Harare - The government is set to announce a recovery package in the wake of the coronavirus disease. The funds will help avert mass job ...
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Harare - The government is set to announce a recovery package in the wake of the coronavirus disease.
The funds will help avert mass job losses and save livelihoods, Finance minister Professor Mthuli Ncube said.
“What you will see during this Covid-19 response generally is a stronger shift towards supporting our social action programmes and that is very critical,” he said.
“Another leg of saving livelihoods is to support companies so that we can retain jobs as we don’t want our people to lose jobs.
“We want to create more jobs, which is precisely why we want to support companies to retain, expand and access working capital. You will see us in the next few weeks announcing the recovery package to deal with those issues and watch the space for that.”
Prof Ncube said a $500 million national venture fund was already available and would provide affordable loans to young entrepreneurs and institutions.
“Now, coming to the $500 million, this pertains to the venture fund resources we launched as a Government,” he said. “The reason behind is that we are looking for ideas for viable projects that we will invest in that will turn ideas into goods and services.”
Prof Ncube said the idea revolved around creating an entrepreneurial culture among Zimbabweans.
Government recently came up with a $600 million package to support the informal sector and vulnerable households. About one million people who lost their incomes are being supported through cash transfers and food hampers.
“We already have another cash transfer of $180 a month to cover the roller meal subsidy because if you can’t find roller meal, the option is that you then get cash in lieu of roller meal,” said Prof Ncube.
He said Government was working with the private sector to fight Covid-19, adding that emphasis was on saving lives and livelihoods.
“Those from outside the country will be quarantined and some of you need to self-quarantine at home and all of this is designed to deal with our Covid-19 strategy, including social distancing and lockdown is all part of that,” he said.
Elsewhere, South Africa unveiled a R500 billion war chest to cover social services, as the country battles the virus that has claimed thousands worldwide.
“Another leg of saving livelihoods is to support companies so that we can retain jobs as we don’t want our people to lose jobs.
“We want to create more jobs, which is precisely why we want to support companies to retain, expand and access working capital. You will see us in the next few weeks announcing the recovery package to deal with those issues and watch the space for that.”
Prof Ncube said a $500 million national venture fund was already available and would provide affordable loans to young entrepreneurs and institutions.
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| Rescue Package on the Cards |
“Now, coming to the $500 million, this pertains to the venture fund resources we launched as a Government,” he said. “The reason behind is that we are looking for ideas for viable projects that we will invest in that will turn ideas into goods and services.”
Prof Ncube said the idea revolved around creating an entrepreneurial culture among Zimbabweans.
Government recently came up with a $600 million package to support the informal sector and vulnerable households. About one million people who lost their incomes are being supported through cash transfers and food hampers.
“We already have another cash transfer of $180 a month to cover the roller meal subsidy because if you can’t find roller meal, the option is that you then get cash in lieu of roller meal,” said Prof Ncube.
He said Government was working with the private sector to fight Covid-19, adding that emphasis was on saving lives and livelihoods.
“Those from outside the country will be quarantined and some of you need to self-quarantine at home and all of this is designed to deal with our Covid-19 strategy, including social distancing and lockdown is all part of that,” he said.
Elsewhere, South Africa unveiled a R500 billion war chest to cover social services, as the country battles the virus that has claimed thousands worldwide.
It comes as Spain's prime minister said the country was close to passing the worst of its coronavirus outbreak. - Online Sources
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