Online Reporter
Kuda Bwititi
Zimpapers Politics Hub
THOUSANDS of vendors across Zimbabwe are set to benefit from a US$200 000 seed capital injection under the Presidential Vendors Empowerment Scheme, an initiative by President Mnangagwa aimed at uplifting informal traders and supporting the formalisation of their enterprises.
The scheme will provide interest-free loans through a pass-on model, with US$20 000 allocated to each of the country’s 10 provinces.
The revolving nature of the fund is expected to create a ripple effect, allowing more vendors to access capital as initial beneficiaries repay and reinvest in others.
Informal traders are a vital part of Zimbabwe’s economy, contributing significantly to employment, local commerce and the distribution of goods and services, particularly in urban and peri-urban areas.
Despite their importance, many vendors lack access to affordable financing and operate in precarious conditions.
The Presidential Vendors Empowerment Scheme seeks to address these gaps by providing accessible funding and promoting sustainable business practices.
President Mnangagwa’s Special Advisor, Dr Paul Tungwarara, recently handed over the funds to the Vendors for Economic Development (Vendors 4ED), the organisation tasked with co-ordinating and distributing the funds nationwide.
In an interview, Vendors 4ED national chairperson Cde Samora Chisvo expressed gratitude to the President for his inclusive economic empowerment policies.
“As vendors, we are very 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.”
Cde Chisvo confirmed that disbursement of the funds has already begun.
“The Presidential Vendors Empowerment Scheme is now operational. We were given an initial capital of US$200,000. We have structures across all the provinces and districts. We are going to be disbursing that money, with each province set to receive US$20 000.”
To ensure transparency, Cde Chisvo said the union is digitising the disbursement of funds.
“We have engaged ICT experts who are going to help us digitalise our manual database so that we can create a system and make follow-ups on every beneficiary of the fund. This is a pass-on scheme, so we expect beneficiaries to pass on the fund to the next person after investing in their operations and making profits.
“Also, the loans are interest-free. It is a revolving fund that should benefit all vendors around Zimbabwe, regardless of where they are in the country. They must benefit.”
He urged vendors to engage the Vendors4ED to access the funds.
“This money is going to be disbursed to all vendors that are registered. ZANU PF members have an added advantage because our organisation is affiliated with the ruling party. However, this is not set in stone.”
War veterans, children of the ex-combatants, youths in mining and agriculture, and women are some of the beneficiaries of the Presidential empowerment schemes.
