News / Local
Outsiders apply for Bulawayo's US$40 million
25 Nov 2011 at 08:44hrs | Views
BUSINESS sharks from outside Bulawayo have submitted applications to get money under the US$40 million meant for the city's distressed companies.
According to Ntombenhle Moyo, the chairperson the Zimbabwe National Chamber of Commerce, businesses in the city were no longer sure if the Distressed Industries and Marginalised Areas Fund at the Central African Building Society (CABS) was the same one which Professor Welshman Ncube has been talking about for the past month.
She said, "The bank is inviting people from throughout the country but we thought the fund was for Bulawayo firms.
"We are not sure if this is a new fund or the same fund that has evolved into national fund," she said.
Many companies have either closed or relocated to Harare leaving the city barren of any business and thus increasing the numbers of un-employed people in the region.
Government has through the ministry of Industry and Commerce, after consultations with relevant stakeholders, come up with a fund to rescue the appalling situation.
The fund has been dogged by many constrains.
Cabinet has thrice failed to sit and discuss the serious matter.
Where it managed to sit, MDC' s secretary general, Priscilla Musihairabwi-Mushonga has told the press that some ministers refused to have the fund coming to the city of Kings and Queens.
She has not named them to date.
Prof Ncube's Deputy in the ministry has openly declared that the fund is "not" for Bulawayo alone.
According to Ntombenhle Moyo, the chairperson the Zimbabwe National Chamber of Commerce, businesses in the city were no longer sure if the Distressed Industries and Marginalised Areas Fund at the Central African Building Society (CABS) was the same one which Professor Welshman Ncube has been talking about for the past month.
She said, "The bank is inviting people from throughout the country but we thought the fund was for Bulawayo firms.
"We are not sure if this is a new fund or the same fund that has evolved into national fund," she said.
Many companies have either closed or relocated to Harare leaving the city barren of any business and thus increasing the numbers of un-employed people in the region.
Government has through the ministry of Industry and Commerce, after consultations with relevant stakeholders, come up with a fund to rescue the appalling situation.
The fund has been dogged by many constrains.
Cabinet has thrice failed to sit and discuss the serious matter.
Where it managed to sit, MDC' s secretary general, Priscilla Musihairabwi-Mushonga has told the press that some ministers refused to have the fund coming to the city of Kings and Queens.
She has not named them to date.
Prof Ncube's Deputy in the ministry has openly declared that the fund is "not" for Bulawayo alone.
Source - Byo24News
