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Oliver Kazunga, Senior Business Reporter
BULAWAYO Upcoming Traders’ Association (BUTA) is courting local banks to avail point of sale machines (POS) to its members so as to address challenges posed by the prevailing cash shortage in the economy.

The association draws its membership from street vendors and flea market traders in the city.

BUTA secretary-general Mr Dumisani Ncube told Business Chronicle yesterday that their members’ business has of late been subdued due to delays in adoption of electronic payment systems such as POS machines.

“In light of the prevailing cash crisis, the association is negotiating with local banks to see if they can avail their POS facility to our members.

“If we can reach an agreement, we are also looking at a scenario where our members can have the facility at affordable charges of between $5 and $10 per month,” he said.

“According to a survey that we have carried out, there are some banks who are charging $70 monthly for POS machine service and that figure to us is very high considering that we are upcoming entrepreneurs.”

Mr Ncube said in the next two weeks they would be checking on their proposal with financial institutions.

He said BUTA has over 4 000 members who are licensed by the Bulawayo City Council.

“As an association, we are also working with relevant authorities in the city to ensure that each and every one of our members has trading space to operate from.

“This also explains why Bulawayo is regarded as the most organised city when it comes to vending and flea market trading,” he said.

In an interview after touring Small and Medium Enterprises (SMEs), and vendors trading sites in Bulawayo last week, Small to Medium Enterprises and Co-operative Development Minister Sithembiso Nyoni said: “Vending can be a very dignified enterprise . . . Bulawayo City Council has started well and doing a good job, keep this up, let’s not have people that just go and pack themselves and really take the shine of vendors that are organised.”

She said local authorities across the country should start planning for SMEs growth and development taking into account the role played by the sector in economic development.

“Local authorities must also reckon that most of the revenues they collect come from these people and they must starting planning for them,” said Minister Nyoni.

@okazunga