Online Reporter
Kuda Bwititi, Zimpapers Politics Hub
THOUSANDS of vendors across Zimbabwe are poised 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 offer interest-free loans through a pass-on model, with US$20 000 allocated to each of the country’s ten provinces.
The revolving nature of the fund is expected to generate a ripple effect, enabling more vendors to access capital as initial beneficiaries repay and reinvest in others.
Informal traders play a vital role in 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 under precarious conditions.
The Presidential Vendors Empowerment Scheme seeks to bridge these gaps by providing accessible funding and encouraging 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 responsible for 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 for President Mnangagwa’s policy of leaving no one and no place behind. This fund demonstrates that the President is a man of his word and delivers tangible results. We are also appreciative of Dr Tungwarara, who was assigned by the President to ensure the scheme’s success. This is the direct empowerment we needed to uplift our lives.
“The President has shown that he understands our role in the economic chain and the critical part we play in the distribution of goods and services. The plight of vendors is set to be significantly transformed through this initiative.”
Cde Chisvo confirmed that disbursement of the funds has already commenced.
“The Presidential Vendors Empowerment Scheme is now operational. We received an initial capital of US$200 000.
We have structures in place across all provinces and districts. Each province is set to receive US$20 000.”
To ensure transparency, Cde Chisvo noted that the union is digitising the disbursement process.
“We have engaged ICT experts to help us digitise our manual database, enabling us to create a system for tracking every beneficiary of the fund. This is a pass-on scheme, so we expect beneficiaries to reinvest the funds after growing their operations and generating profits. The loans are interest-free. It is a revolving fund designed to benefit all vendors across Zimbabwe, regardless of location. Everyone must benefit.”
He encouraged vendors to engage with Vendors 4ED to access the funds.
“This money will be disbursed to all registered vendors. Zanu-PF members have an added advantage, as our organisation is affiliated with the ruling party. However, this is not a strict requirement.”
The Presidential Vendors Empowerment Scheme forms part of a broader series of grassroots economic upliftment programmes being rolled out under the direction of Dr Tungwarara, who was appointed by President Mnangagwa as his Special Advisor.
War veterans, children of ex-combatants, youths in mining and agriculture, and women are among the other beneficiaries of the Presidential empowerment schemes.
