admin(CBTAZ) to facilitate smooth travel for cross-border traders.
Under the scheme, FBC will pay in advance for travel fares ranging from US$500 to US$3 000 depending on destination, with beneficiaries repaying over two months after selling their wares. The scheme was launched in Gweru at the weekend where CBTAZ members from across the country roundly welcomed the initiative as boosting their business.
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CBTAZ president Mr Killer Zivhu said the facility would help his members venture into markets that had remained unexplored due to limitations in raising air fares.
“Some of our members have not been able to go to countries beyond the region because they could not afford the airfares, after raising funds to purchase their goods.
“Therefore, FBC has come in a way that will enable cross border traders to simply raise capital to purchase goods while the issue of tickets will be taken care of under this facility. We commend the bank for assisting us in this manner,” said Mr Zivhu.
Unveiling the new product, FBC Bank general manager-Microfinance Mr Patrick Mugwendeza said his bank was keen on the economic empowerment of the majority and would do everything in its powers to ensure it played its part.
“For us at FBC, empowerment issues are critical. Tinoda kuti vanhu vedu vabudirire. (We want to ensure the majority of our people are economically empowered).
He said the bank was ready to go beyond the fly now pay later scheme with CBTAZ and pursue more ways to assist the traders. A new product launched last month, the FBC mastercard, would also enable crossborder traders and other travellers to deposit cash which they could then access when they travel, reducing the need to move about with large sums of cash.
“The card is tried and tested. As crossborder traders you can simply deposit your money into the card and use it wherever you go worldwide. It is very convenient and hassle-free,” said FBC manager- convenience banking Ms Tabitha Madzikanda.
Gweru deputy Mayor Mr Taurai Demo applauded the deal between FBC Bank and CBTAZ as something that would empower cross border traders in their quest to grow their businesses.
“This is a good facility that will go a long way in assisting the cross border traders. We appreciate the importance assigned to the City of Gweru in hosting this event,” he said.
However, Mr Zivhu lamented challenges such as high import duties and ill-treatment of his constituency at border posts, saying this frustrated their efforts.
He awaited feedback from the Joint Monitoring and Implementation Committee (JOMIC) where his organisation had forwarded their grievances.
The launch ceremony observed a minute’s silence in honour of the late Retired General Solomon Mujuru who perished in an inferno last Tuesday.
Online Reporter