News / National
Revolving fund for Gutu Central vendors launched
6 hrs ago | Views
A new revolving fund aimed at empowering informal traders and transforming livelihoods was officially launched on Monday in Gutu Central Constituency, offering hope to many small business owners struggling to access affordable capital.
The fund, unveiled by Gutu Central legislator Winston Chitando at the Gutu Rural District Council offices, operates on a borrow-and-repay model with low interest rates. It is designed to uplift informal traders, enabling them to start or expand income-generating ventures.
Speaking at the launch, Chitando said the fund was part of ongoing efforts to foster self-reliance and economic growth at the grassroots level.
"This initiative reflects our commitment to inclusive development. By equipping citizens with affordable financing, we are unlocking economic potential across Gutu," he said.
Beneficiaries welcomed the initiative with enthusiasm. Grace Hamadziripi, one of the recipients, said the fund would allow her to grow her business and improve her family's wellbeing.
"This support changes lives. I will now be able to boost my business and take better care of my family," she said.
Admire Muchinepayi, another informal trader, noted that the fund offered a timely alternative to predatory lending practices.
"This fund has come at the right time. The terms are affordable and we believe it will help us grow our businesses without worrying about falling into debt traps," he said.
Zanu-PF district women affairs representative Babra Mugabe highlighted the fund's potential to economically uplift women, who are often at the centre of household and community welfare.
"This initiative will enable more women to venture into small projects like poultry, gardening and vending. When women are empowered, the entire household and community benefit," she said.
Local leaders echoed similar sentiments. Ward 34 Councillor Proud Chifamba said access to capital had inspired new energy among residents.
"People are now motivated to work harder because they have access to capital. Some have already started poultry projects while others are expanding tuckshops," Chifamba said.
Ward 37 Councillor Getmore Chipika praised the government's grassroots development agenda, crediting President Emmerson Mnangagwa for appointing leaders focused on rural empowerment.
"This programme is evidence that government development policies are reaching people in rural areas like Gutu," he said.
The revolving fund is expected to play a key role in supporting sustainable livelihoods and stimulating economic growth in Gutu Central, particularly among informal traders who make up a significant portion of the constituency's economy.
The fund, unveiled by Gutu Central legislator Winston Chitando at the Gutu Rural District Council offices, operates on a borrow-and-repay model with low interest rates. It is designed to uplift informal traders, enabling them to start or expand income-generating ventures.
Speaking at the launch, Chitando said the fund was part of ongoing efforts to foster self-reliance and economic growth at the grassroots level.
"This initiative reflects our commitment to inclusive development. By equipping citizens with affordable financing, we are unlocking economic potential across Gutu," he said.
Beneficiaries welcomed the initiative with enthusiasm. Grace Hamadziripi, one of the recipients, said the fund would allow her to grow her business and improve her family's wellbeing.
"This support changes lives. I will now be able to boost my business and take better care of my family," she said.
Admire Muchinepayi, another informal trader, noted that the fund offered a timely alternative to predatory lending practices.
"This fund has come at the right time. The terms are affordable and we believe it will help us grow our businesses without worrying about falling into debt traps," he said.
Zanu-PF district women affairs representative Babra Mugabe highlighted the fund's potential to economically uplift women, who are often at the centre of household and community welfare.
"This initiative will enable more women to venture into small projects like poultry, gardening and vending. When women are empowered, the entire household and community benefit," she said.
Local leaders echoed similar sentiments. Ward 34 Councillor Proud Chifamba said access to capital had inspired new energy among residents.
"People are now motivated to work harder because they have access to capital. Some have already started poultry projects while others are expanding tuckshops," Chifamba said.
Ward 37 Councillor Getmore Chipika praised the government's grassroots development agenda, crediting President Emmerson Mnangagwa for appointing leaders focused on rural empowerment.
"This programme is evidence that government development policies are reaching people in rural areas like Gutu," he said.
The revolving fund is expected to play a key role in supporting sustainable livelihoods and stimulating economic growth in Gutu Central, particularly among informal traders who make up a significant portion of the constituency's economy.
Source - Southern Eye
