Only 58 Bulawayo companies to benefit from the $48 million fund

THE Government has shortlisted 58 Bulawayo companies to benefit from the $40 million under the Distressed Industries and Marginalised Areas Fund (Dimaf), an official said yesterday.

In a telephone interview from Harare, the director of Enterprise Development in the Ministry of Industry and Commerce, Mr Stanslaus Mangoma, said the companies were selected last year by the  taskforce team on the "Let Bulawayo Survive" campaign.

He, however, could not give the names of the companies, saying that information was confidential.

"We have submitted the names of 58 companies from different sectors of industry to CABS for them to access funding. These companies were identified last year by the taskforce team," said Mr Mangoma.

Last week Industry and Commerce Minister Professor Welshman Ncube announced that the Government had approved the disbursement of Dimaf and his office had already submitted the list of companies to CABS.

CABS is the Government's agent in the disbursement of the fund.

Prof Ncube said the revival of the city's ailing companies was certain. He quashed sentiments that the fund had been thrown into doubt.

Prof Ncube said his ministry communicated the development to the beneficiaries adding that the issue was now between the companies and the bank.