Barclays Bank Funds Young Zimbabwean Farmers
Barclays Bank Zimbabwe has, since last year, invested over $400 000 into the development of agribusiness entrepreneurs, particularly young people who dropped out of school with the aim of helping them make a fresh start. Under the initiative known as: Fit for Life Programme the bank has partnered the Zimbabwe Farmers Union to help the young farmers overcome some of the challenges they are facing in their businesses and lives.Over 30 000 young people have gone through various financial literacy programmes and included training and coaching in various social and business aspects.
Most young agribusinesses have no access to credit because most financial service providers are reluctant to provide their services- including credit, savings and insurance to rural youth due to lack of collateral and financial literacy, among other reasons.
They have no access to improved technologies that provide them with invaluable knowledge on climate change and developments that can positively impact their levels of production.