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Presidential scheme disburses US$200 000 for vendors
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Thousands of informal traders across Zimbabwe have received a major financial boost following the launch of the Presidential Vendors Empowerment Scheme, which has availed US$200,000 in seed capital to support and formalise vendor enterprises.
The empowerment scheme, launched under President Emmerson Mnangagwa's "leave no one and no place behind" mantra, aims to enhance the livelihoods of vendors by providing interest-free loans through a pass-on mechanism. Each of Zimbabwe's 10 provinces will receive US$20,000 to kickstart the initiative.
The funds were handed over by President Mnangagwa's Special Advisor, Dr. Paul Tungwarara, to the Vendors for Economic Development (Vendors 4ED) during a recent ceremony.
Speaking to Zimpapers Politics Hub, Vendors 4ED national chairperson Mr. Samora Chisvo expressed gratitude for the government's support, saying the scheme was a clear demonstration of the President's commitment to grassroots empowerment.
"As vendors, we are grateful to President Mnangagwa's policy of leaving no one and no place behind. This fund shows that the President is a man of his word, and he delivers results," said Chisvo.
He hailed the involvement of Dr. Tungwarara in operationalising the scheme, noting that the intervention was a direct form of empowerment for informal traders, many of whom have long been excluded from formal financial services.
"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 going to be transformed significantly through this initiative," added Chisvo.
He confirmed that distribution of the funds has already begun, with the initial disbursements being made to selected vendor groups around the country.
The scheme is expected to not only improve the working capital of thousands of traders but also lay the groundwork for greater financial inclusion and formalisation of the informal sector — a major contributor to Zimbabwe's economy.
Government and Vendors 4ED officials are expected to monitor the rollout of the loans to ensure transparency, accountability, and long-term sustainability of the programme.
The empowerment scheme, launched under President Emmerson Mnangagwa's "leave no one and no place behind" mantra, aims to enhance the livelihoods of vendors by providing interest-free loans through a pass-on mechanism. Each of Zimbabwe's 10 provinces will receive US$20,000 to kickstart the initiative.
The funds were handed over by President Mnangagwa's Special Advisor, Dr. Paul Tungwarara, to the Vendors for Economic Development (Vendors 4ED) during a recent ceremony.
Speaking to Zimpapers Politics Hub, Vendors 4ED national chairperson Mr. Samora Chisvo expressed gratitude for the government's support, saying the scheme was a clear demonstration of the President's commitment to grassroots empowerment.
"As vendors, we are grateful to President Mnangagwa's policy of leaving no one and no place behind. This fund shows that the President is a man of his word, and he delivers results," said Chisvo.
"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 going to be transformed significantly through this initiative," added Chisvo.
He confirmed that distribution of the funds has already begun, with the initial disbursements being made to selected vendor groups around the country.
The scheme is expected to not only improve the working capital of thousands of traders but also lay the groundwork for greater financial inclusion and formalisation of the informal sector — a major contributor to Zimbabwe's economy.
Government and Vendors 4ED officials are expected to monitor the rollout of the loans to ensure transparency, accountability, and long-term sustainability of the programme.
Source - The Herald
