Cross border traders, micro-finance company enter into partnership

The Zimbabwe Cross Border Traders Association and First Mutual Micro-Finance have entered into a partnership under which the traders will access loans at concessional rates.

In a presentation last week, the president of the association, Mr Killer Zivhu said they
have added First Mutual Micro-Finance to the list of financial institutions that assist
members of his organisation.

He said cross border traders contribute to national revenue that funds Government
projects.

“We welcome the First Mutual initiative to give cross border traders loans at affordable
rates, which range from four to eight percent and their requirements are affordable.

“To those who might not have collateral, First Mutual is willing to have the association
guarantee on behalf of traders, which will see our members across the country
benefiting,” he said.

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Also speaking at the launch of the partnership, Bulawayo Provincial Affairs and
Devolution Minister Judith Ncube said the partnership will assist women grow their
businesses.
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“I would like to further express my sincere appreciation to First Mutual Micro-Finance
for assisting women, men and youths to grow their businesses. However, I would like to
appeal to you First Mutual to issue more loans to enable more households to benefit.”
Minister Ncube encouraged traders to repay the loans so that the revolving fund can also
assist more members.

She said cross border traders should play an important role through supporting
Government initiatives to provide the nation with affordable products through
reasonable pricing of their products. – The Chronicle