Chronicle Editor
Judith Phiri, Business Reporter
MORE than 30 small to medium enterprises (SMEs) from different parts of Matabeleland have started reaping benefits after receiving funds from a US$250 000 revolving fund meant to empower them.
The SMEs that received funds in May have been able to repay it to allow other SMEs to also benefit.
The US$250 000 revolving fund is being rolled out by the Zimbabwe West Union Conference (ZWUC) Adventist-Laymen’s Services and Industries (ASI)’s Chapter of Seventh Day Adventists.
The innovative revolving fund launched in February is poised to catalyse entrepreneurial endeavours and contribute to the economic empowerment of the community.
Giving an update on the rollout of the fund, ZWUC ASI Chapter finance director, Mr Alson Bhebe said they have visited different places the SMEs are at including Bulawayo, Bubi, Beitbridge, Maphisa and Victoria Falls to assess developments of the projects.
“We have visited 27 out of 30 fund recipients. Two out of the 27 had to change their business strategies after realising that their initial strategies were not going to help them realise a good return that would allow them to repay the fund in 90 days and both are in cattle pen feeding,” he said.
“One in Beitbridge has opted to buy and sell cattle and the other one in Bulawayo is now trading stock feed for cattle. They buy feed directly from the factory and deliver to farmers.”
He said three recipients had to move venues, while the other two working together had to move to a location closer to their residency to reduce operational costs.
Mr Bhebe said these are doing eggs and bought a combined 500 birds.
He added: “The other one doing broiler chickens moved their project from a family farm to their residential property.”
“There’s only one project that left the team of consultants concerned where the fund recipient seems to be having contractual challenges with their business partner, threatening the viability of the very business the fund was sought for.”
“Otherwise, all recipients seem to be running their projects well and are on the right path to remain empowered even after repaying back the fund.”
Mr Bhebe said those who were meant to repay funds by the end of June all honoured their obligations.
He said there was going to be another round of evaluations for these current projects, while they have started receiving new applications in anticipation of another rollout in August.
In a previous interview, one of the beneficiaries, Mrs Nokuthula Ngwenya who runs Croc Foods in Beitbridge, said her goal was to venture into layer chicks production.
“As Croc Foods we have been in business for the past 15 years so we are already established as we have a restaurant, butchery and cattle fattening project. Our main thrust is on the layer chicks production, we want a fund that will empower us to buy 8 000 layer chicks,” she said.
“The reason why we chose this one was to address the gap that we have witnessed, most people when they are into egg production prefer to get the chickens at egg laying stage to avoid costs associated with starting scratch with the day-old chicks.”
Using the funds she received, small-scale farmer, Mrs Given Sikhosana of Charlet area in Bubi District, is utilising two hectares on her plot where she has embarked on a thriving horticultural venture.
She managed to solarise her borehole for drip irrigation and increased her hectarage for produce such as cabbages, tomatoes, butternuts, carrots, beetroot, onions, rape as well as broccoli.
This pioneering move by the ASI Chapter signifies a major commitment to fostering the growth and development of member-run businesses within the SDA community.
An estimated 39 percent of Zimbabwe’s 4,5 million SMEs operate within the agricultural value chain and these businesses play a vital role in driving food production, creating employment opportunities, and fostering economic diversification.
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