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He said most distressed companies set to benefit under Dimaf were failing to offer collateral security as they used to operate from rented premises using rented machinery.
Speaking on the sidelines of the opening of a Nyaradzo Funeral Parlour in Zvishavane recently, Deputy Minister Bimha said the distressed companies needed to provide collateral security first before they could access Dimaf.
“Some of the companies that had been shortlisted to benefit from Dimaf are beyond redemption. Some were operating at rented buildings, using rented machinery.
“What is required for these companies is to provide collateral security to show their commitment before they could be allocated funds,” he said.
Deputy Minister Bimha said it was disappointing to note the companies targeted to benefit under Dimaf had nothing to offer.
He said the Ministry of Finance on the other hand was not being co-operative.
“My ministry is only responsible for facilitating Dimaf as well as identifying distressed companies that are in need of assistance.
“The Ministry of Finance is not updating us whether the funds are there or not. If they are there, when are they likely to be disbursed?” asked Deputy Minister Bimha.
The Deputy Minister said there was no politics surrounding the allocation and disbursement of Dimaf.
Meanwhile, Deputy Minister Bimha paid tribute to Nyaradzo Funeral Assurance Company on the opening of its 12th parlour in Zvishavane recently.
He said Nyaradzo Funeral Parlour was one of the indigenous companies that were growing fast and were serving the interest of the people.
The funeral assurance company also held a golf tournament at Zvishavane Golf Club recently.
Former Midlands Governor Dr Cephas Msipa, Nyaradzo group chief executive officer Mr Philip Mataranyika and Zvishavane-Ngezi Member of Parliament, Cde Obert Matshalaga graced the occasion.
Online Reporter