Business / Local
SMEs get $240 000 revolving fund
25 Nov 2012 at 21:39hrs | Views
Small and medium scale entrepreneurs operating along major highways on Thursday received a $240 000 revolving fund to embark on various income generating projects.
The fund, known as the Corridor Economic Empowerment Fund (CEEF), would benefit small and medium entrepreneurs situated along the Beitbridge to Chirundu and Beitbridge to Nyamapanda highways.
The International Labour Organisation (ILO) and the Small Enterprises Development Corporation (Sedco) contributed $140 000 and $100 000 respectively to the fund.
Speaking at the handover and signing ceremony Labour and Social Welfare Minister Paurina Mpariwa said the fund was meant to benefit workers and vulnerable populations along transport corridors.
"The transport sector is one of the most vulnerable and communities along transport routes have to live with the negative effects and impact of HIV and Aids," she said.
"While it is essential to target workers directly in the transport sector through, for example education and awareness, it is critical to economically empower communities along transport corridors. An individual assured of income is better positioned to avoid HIV infection."
Minister Mpariwa said the CEEF would ensure commercial sex workers, their families and communities were equipped and empowered economically.
"Through cooperatives, beneficiaries will have access to finance, project ideas and expert advice administered through Sedco. This promotes individual capacity and thereby arm the vulnerable against HIV and Aids," she said.
ILO country director Tabi Abodo said the cooperation formed between his organisation, the Government and Sedco was critical to fight HIV and poverty.
"The partnership of the three parties will help communities in Beitbridge, Gundu and Chirundu among others to sustain themselves better and avoid engaging in risky behaviour," he said.
Sedco general manager Ms Gladys Kanyongo said the corporation would assist beneficiaries with ideas and project proposals.
"We will recommend projects for funding to CEEF Project Advisory Committee for approval. Once approved we will then disburse the money," she said.
"Individuals and cooperatives are free to apply for funding," she said.
HIV infection rates in Zimbabwe have gone down to about 15 percent although they are still not sustainable economically.
The fund, known as the Corridor Economic Empowerment Fund (CEEF), would benefit small and medium entrepreneurs situated along the Beitbridge to Chirundu and Beitbridge to Nyamapanda highways.
The International Labour Organisation (ILO) and the Small Enterprises Development Corporation (Sedco) contributed $140 000 and $100 000 respectively to the fund.
Speaking at the handover and signing ceremony Labour and Social Welfare Minister Paurina Mpariwa said the fund was meant to benefit workers and vulnerable populations along transport corridors.
"The transport sector is one of the most vulnerable and communities along transport routes have to live with the negative effects and impact of HIV and Aids," she said.
"While it is essential to target workers directly in the transport sector through, for example education and awareness, it is critical to economically empower communities along transport corridors. An individual assured of income is better positioned to avoid HIV infection."
Minister Mpariwa said the CEEF would ensure commercial sex workers, their families and communities were equipped and empowered economically.
ILO country director Tabi Abodo said the cooperation formed between his organisation, the Government and Sedco was critical to fight HIV and poverty.
"The partnership of the three parties will help communities in Beitbridge, Gundu and Chirundu among others to sustain themselves better and avoid engaging in risky behaviour," he said.
Sedco general manager Ms Gladys Kanyongo said the corporation would assist beneficiaries with ideas and project proposals.
"We will recommend projects for funding to CEEF Project Advisory Committee for approval. Once approved we will then disburse the money," she said.
"Individuals and cooperatives are free to apply for funding," she said.
HIV infection rates in Zimbabwe have gone down to about 15 percent although they are still not sustainable economically.
Source - New Ziana
