Chronicle Editor
Judith Phiri, Business Reporter
THE Zimbabwe West Union Conference (ZWUC) of Seventh-day Adventists has unveiled a transformative initiative aimed at empowering its members’ small to medium enterprises (SMEs) through the launch of a US$230 000 revolving fund.
This pioneering move by the Adventist-Laymen’s Services and Industries (ASI) Chapter signifies a major commitment to fostering the growth and development of member-run businesses within the Seventh-day Adventist community.
ASI, is a dynamic membership-based organisation comprising Seventh-day Adventist laypeople dedicated to actively advancing the church’s global mission, encompasses a diverse range of members, from business owners to individual professionals and supporting ministries. This innovative fund is poised to catalyse entrepreneurial endeavours and contribute to the economic empowerment of the community.
Speaking at the launch of the fund in Bulawayo on Friday, ZWUC ASI president, Advocate Dumisani Dube said their wish was to grow the fund to US$1 million or more.
“You can appreciate that not all businesses can get much from this fund which is focusing on SMEs. Some with medium to large scale businesses might require something like US$700 000 to expand their operations, so that is why we need the fund to grow as well. Our wish is that like-minded businesses come together to work with us so that we can grow the fund,” he said.
ZWUC ASI Chapter Finance director, Mr Aleckson Bhebhe said the fund came about as an empowerment initiative.
“We have business people who have brilliant ideas but they are not able to sustain their programmes or projects because of the business environment. So, we have put resources together and came up with a revolving fund, currently it is at US$230 000. This revolving fund is going to be given to our members so that they can use it to boost their businesses. We believe as they boost their businesses and become profitable, then they are going to return back part of that money into supporting mission projects for the church.”
He said the fund was to be rolled out in their Chapter (ZWUC) which stretches from Beitbridge to Victoria Falls, covering most of the Matabeleland region, while also incorporating Mberengwa and Rutenga.
Mr Bhebhe said they were to go down to their districts and local churches to form small chapters where members could submit their project proposals for consideration.
“We will have a committee that is going to assess and evaluate the proposals. Those who would have been selected will be taken through a boot camp to undergo vigorous training to help them to be able to run their projects in a manner that they will be able to repay the fund. For the start-ups, we are also going to start a business incubation project. You come in, we take you through the ropes of starting a business, help you open up a company and set up your project, when you are now ready we can give you the funds to start doing your projects,” he added.
He said the fund will go a long way to empower SMEs and emerging business people to grow in line with the economic activities that are taking place in the country and globally.
Mr Bhebhe, however, said there was need to grow the fund to ensure it accommodates all businesses.
“There are some of our members who run medium-scale to large-scale corporations, from this fund there is very little that we can give them. There are some who want to be aided with US$100 000 or US$200 000 so we will need to grow the fund so that we are able to take care of everyone who is within our economy. We need to form partnerships that benefit all of us,” he added.
Bongani Ndlovu
Online Reporter