Economic development is a pressing need in Zimbabwe. Inconsistent and uncoordinated economic policies along with a difficult business environment have undermined business, investment, and economic growth. Although recent macroeconomic and other reforms have helped stabilize the economy, the benefits have not translated into widespread economic opportunities for average citizens. Unemployment remains high, particularly for marginalized groups such as youth, who often lack practical experience and marketable skills. USAID seeks to strengthen Zimbabwe’s economic recovery by promoting sound economic policies while strengthening skills and resilience.
To create positive economic development, USAID supports research and analysis to improve national policy formulation; promote effective poverty reduction; encourage employment creation; expand investment; and increase transparency and accountability in fiscal management. USAID provides technical assistance and training to economists. USAID’s economic growth programs help improve policy clarity and consistency in implementation, which are crucial to rebuilding Zimbabwe’s status as a destination for business and investment.
USAID also focuses on encouraging job creation for thousands of unemployed youth in Zimbabwe. People younger than 25 constitute approximately two-thirds of the country’s population, and almost 80 percent lack formal employment. During the first 12 months, USAID programs placed more than 1,149 job seekers in internships and mentorships with non-governmental organizations, corporations, and small and medium-sized enterprises, helping them gain valuable job experience and build professional networks. USAID also trains entrepreneurs and facilitates loans to build small and medium sized companies with potential to be the engines of economic growth and job creation.
Ultimately, USAID’s economic growth portfolio contributes to positive economic change and effective poverty reduction in Zimbabwe.
Last updated: December 02, 2014