adminGovernment’s policy on small enterprises had opened opportunities for them.
“When we received training on how to improve our lives and the lives of other people by forming these savings and credit co-operatives, we realised why our President was always calling for people to be self-reliant,” he said.
The grant is part of a three-year project to support peace building and increase access to sustainable livelihoods being conducted by different Government organs with assistance from the UNDP.
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In a speech read on her behalf by her permanent secretary, Mrs Evelyn Ndlovu, Small and Medium Enterprises and Co-operative Development Minister Sithembiso Nyoni said the ministry had already opened six business centres that offer business advisory services, train and dissemminate business information to entrepreneurs.
“The ministry is spearheading formation of savings and credit co-operative societies among rural women and youth groups to facilitate business loans,” she said.
Minister Nyoni said the grant would be used for income generating projects so as to enable beneficiaries to pay back the money and grow the fund.
UNDP country director Ms Verity Nyagah hailed Zimbabwe’s acknowledgement of the important role co-operatives play in social integration, job creation and poverty reduction.
“Livelihood initiatives such as savings and credit co-operative societies can go a long way in facilitating increased access to capital finance by women and youth in rural areas.
“The initiatives also create opportunities for women and youth to emerge from poverty and enjoy self-reliant lives,” she said.
Online Reporter