Bulawayo traders association issues loans to members

in September with the aim of giving affordable loans to small businesses.
“The group was joined by about 280 people of which most were vendors paying $2 a week to give them back as a lump sum after a month.
“Our membership has grown so much that we can group our members in groups and 10 members share the money,” he said.
He said each individual was given a loan of $100.
“We gave them this amount because the association has just started and we hope to keep increasing the amount with passage of time as we get more financing,” he said.
“We are focusing on people from Matabeleland and our wish is to grow bigger by working together.”
The secretary of the association, Mr Joseph Muchenje, however said they were concerned that most members were failing to get operating licences to legalise their operations.
He said commercial banks were not keen to advance them loans since they did not have licences.
A member of the association, Mr Tinashe Nyathi, said he was happy because the money will help him order goods for his business.