adminMathew Masinge
MICRO To Small and Medium Enterprises (MSMEs) in Gweru have called for banks to offer more cheaper loans to save them from predatory microfinance institutions.
The call was made at an expo organised by ZB Financial Holdings at Gweru Sports Club at the weekend.
About 32 MSMEs exhibited at the event which ran under the theme “Accelerating MSMEs Growth Through Sustainable Financial Partnership.”
Zimbabwe Chamber of SMEs chairman Bigboy Murenga said:
“I want to advocate, on behalf of all MSMEs, for partnerships and more access to cheaper loans in order to grow our businesses.
“Most MSMEs have nothing outside their business ideas and end up being targeted by loan sharks that are predatory.
“Instead of the partnership growing the business, it crumbles and many times one is left in debt.”
There are about 4,5 million registered MSMEs in Zimbabwe.
Kosheni Mtisi, a director in the Office of the Minister of State for Provincial Affairs and Devolution for the Midlands province said:
“We applaud the efforts by ZB Financial Holdings in opening up to the MSMEs sector and bringing them together at events like we are having today.
“This is where financial partnerships come in, to bridge the gap and empower MSMEs to thrive.”
ZB Financial Holdings is offering funding opportunities through its microfinance company, Qupa Microfinance.
Online Reporter