Ministry embarks on co-operatives empowerment

14 Feb, 2018 - 00:02 0 Views
Ministry embarks on co-operatives empowerment Minister Sithembiso Nyoni

The Chronicle

 Minister Sithembiso Nyoni

Minister Sithembiso Nyoni

Leonard Ncube in Victoria Falls
THE Ministry of Women and Youth Affairs has organised a training workshop for co-operatives in Victoria Falls to equip them with skills to start and develop their businesses.

Government came with a number of funding models for Small to Medium Enterprises (SMEs) and co-operatives who are into various businesses.

Last year, the Government secured funding from two development partners — Organisation of the Petroleum Exporting Countries (OPEC) and the United Nations Development Programme to be channelled towards supporting growth of micro-small to medium enterprises and co-operatives.

Last month, Women and Youth Affairs Minister Sithembiso Nyoni availed $8 million for Savings and Credit Co-operatives (Saccos) to empower women to venture into different income-generating projects.

She encouraged entrepreneurs to formalise their businesses to enhance their chances of accessing funding to grow their businesses.

Minister Nyoni also highlighted that a majority of budding businesses were not benefiting from the country’s indigenisation and economic empowerment policies and funding programmes as they were not registered.

One of the organisers of the Victoria Falls workshop scheduled for Friday, Mrs Mercy Mushangwe-Ncube, said the training targets any individual above the age of 18.

“The Ministry of Women Affairs and Youth is offering Sacco training here in Victoria Falls on the 16th of February at the Chinotimba Hall from 10am to 2pm,” she said.

Mrs Mushangwe-Ncube said their parent ministry was working in conjunction with the Affirmative Action Group women’s desk to offer the training for free.

A Sacco should have a minimum of 10 members who should be involved in income generating projects as individuals or as a group.

Women and youths in the resort town have an opportunity to redeem their chances in business as the Reserve Bank of Zimbabwe and the Zimbabwe Association of Micro Finance Institutions will also hold a consultative meeting on Collateral Registry and Credit Registry Operations at a local hotel tomorrow.

This will be an opportunity for small businesses to ask pertinent questions related to issues of business and the meeting will address financial inclusion and various empowerment facilities by the Central Bank.

The consultative meeting seeks to provide guidance to SMEs on credit information sharing and the legal framework for the collateral registry being implemented by RBZ.


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