NEW: US$7 million loans disbursed in the first half of the year

Online Reporter

At least US$7 million worth of loans were disbursed by the Government in the first half of this year to finance the development of micro, small and medium enterprises (MSMEs) that have been struggling due to lack of funding.

To close the support gap experienced by women, communities and MSMEs, the Government, through the Ministry of Women Affairs, Community, Small and Medium Enterprises Development, is implementing a wide range of initiatives.

A total of 65 MSMEs benefited through the Small and Medium Enterprises Development Corporation (SMEDCO), while 3 450 beneficiaries were assisted by the Zimbabwe Women Micro-Finance Bank (ZWMB).

The funds have been extended through the Women’s Development Fund (WDF), the Zimbabwe Community Development Fund (ZCDF), ZWMB and SMEDCO.

Speaking after Tuesday’s Cabinet meeting, Information, Publicity and Broadcasting Services Minister, Dr Jenfan Muswere, said Cabinet received a progress report on the implementation of the Government programmes under the Ministry of Women Affairs, Community, Small and Medium Enterprises Development.

Dr Muswere said ZCDF and WDF were targeting to fund 200 projects by the end of the year.

“Other initiatives being rolled out by the Government include capacity building for women, MSMEs, and cooperatives to enable them to take advantage of the emerging livelihood and business opportunities presented by the Second Republic,” Dr Muswere said.

Through the Ministry of Women Affairs, the Government continues to facilitate the formation and growth of innovative and impactful structures for women in key sectors, including housing, finance, agriculture, manufacturing, health, fisheries and arts and crafts.

The ministry is coordinating access to social services such as health provision, sanitary wear for women and girls, education and agricultural inputs.

Plans are also in motion to accelerate the implementation of gender equality provisions as provided for in the Constitution to increase the participation of women in key positions across all sectors.