AT a press conference held in Harare today, Zimbabwe’s minister of finance, Mthuli Ncube, announced that the government is planning to establish a venture capital fund to help startups.
A VC fund is a sum of money investors commit for investment in early-stage companies and small- to medium-sized enterprises with strong growth potential. Such investments are generally characterized as high-risk/high-return opportunities.
“The modalities are being put in place to create a VC Fund. We are also trying to cajole the private sector to join us” the minister said.
Some of the areas the government is focusing on:
- To promote e-government
- To launch a presidential entrepreneurship programme