adminsmall and medium enterprises.
According to Sedco acting general manager Mr Stansilus Makusha, the amount is in addition to the US$500 000 disbursed in the first quarter of this year to 350 micro, small and medium enterprises.
“The US$1 million is in addition to the US$5 000 disbursed in the first quarter,
“The disbursement of first US$500 000 resulted in the creation of about 137 jobs as well as sustainability of another 430 jobs.
“The corporation is grateful for the efforts being made towards meeting the ever-rising demand for capital by SMEs. We are looking forward to the early release of the remaining US$1 000 000 from the 2011 Budget for on-lending purposes,” he said
Mr Makusha added that several SMEs would benefit from the Sedco financing, including sectors such as manufacturing, retail, agro-business, cross-border, clothing, chemical engineering and general dealership.
He also noted that the interest rate was 15 percent per annum. Sedco disburses up to a maximum of US$5 000 to the SMEs.
“We are encouraging small entrepreneurs to apply for loans at Sedco. The maximum limit that can be disbursed to any one project is US$5 000 at a low interest rate of 15 percent per annum,” said Mr Makusha.
Online Reporter
- Bmetro , Chronicle , SundayNews
- June 5, 2026
- 1 views
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