Presidential scheme disburses US$200 000 for vendors

Zimpapers Politics Hub

VENDORS have received seed capital of US$200 000 under the Presidential Vendors Empowerment Scheme in a move that will empower thousands of traders across Zimbabwe to grow and formalise their enterprises.

The scheme will provide interest-free loans under a pass-on scheme, with an initial US$20 000 for each of the country’s 10 provinces.

President Mnangagwa’s Special Advisor, Dr Paul Tungwarara, handed over the funds to the Vendors for Economic Development (Vendors 4ED) recently.

In an interview with Zimpapers Politics Hub yesterday, Vendors 4ED national chairperson Mr Samora Chisvo thanked President Mnangagwa for deploying Dr Tungwarara to spearhead the capacity-building of vendors.

“As vendors, we are grateful to President Mnangagwa’s policy of leaving no one and no place behind. This fund shows that the President is a man of his word, and he delivers results.

“We are also appreciative to Dr Tungwarara, who was assigned by the President to ensure that this scheme comes to fruition. This is the direct empowerment that we needed to uplift our lives.

“The President has shown that he understands our role in the economic chain and the critical role we play in the distribution of goods and services. The plight of vendors is going to be transformed significantly through this initiative.”

Distribution of the funds has commenced, Mr Chisvo said.