Nevanji Munyaradzi Chiondegwa
Government has disbursed more than ZWL$90 million and US$411 000 to women run projects and small to medium enterprises, creating 68 jobs and sustaining 589 others, cabinet has learnt.
This was shared by the Minister of Women Affairs, Community, Small and Medium Enterprises at yesterday`s cabinet meeting.
Addressing the press afterwards, Information, Publicity and Broadcasting Services Minister Monica Mutsvangwa said the uptake for the funds has been healthy.
“The Minister of Women Affairs, Community, Small and Medium Enterprises Development, Hon S.G.G. Nyoni advised Cabinet that funding of 20 Women’s Projects is at 90% with funds having been disbursed to 17 projects by POSB. A total of 163 women from three provinces were trained in Business Management. Each project got ZWL$300 000.00 amounting to a total of ZWL$6 000 000.00,” said Minister Mutsvangwa.
As part of the Ministry of Women Affairs, Community, Small and Medium Enterprises Development’s 100 day cycle progress report, it was revealed that 100 Women Empowerment Clubs will be established in all provinces of the country.
“On small to medium enterprises, 84% of the SMEs targeted for funding under the Post COVID-19 Recovery of 50 SMEs have received funding. Forty-six projects were identified and visited under the OPEC Fund for International Development (OFID), and 66 projects were identified and visited under Small and Medium Enterprises Development Corporation (SMEDCO),” said Minister Mutsvangwa.
“A total of ZW$89 600 000 was disbursed to 42 projects under SMEDCO SME Fund creating 68 new jobs and 589 jobs were sustained. Under the OFID Programme, ten (10) projects were approved for funding to the tune of US$411 000,” Minister Mutsvangwa added.
Zimbabwe set aside funds for small businesses to allow them to be able to sustain shocks brought forward by the Covid-19 pandemic.
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