The Small Enterprise Development Corporation (Sedco), which is facing serious financial constraints, could be forced to further downsize its operations if it fails to secure more funding.
The corporation's general manager, Mr Joseph Nyamunda, said things were not well at his organisation. The Corporation has reduced its work force by half to about 100 employees and downsized four branches. The affected branches included Bindura, Mutare, Masvingo and Gweru while the Chinhoyi satellite branch had to be closed down.
The latest turn of events has affected Sedco's development programmes countrywide. "We have, however, approached Government to turn some of the money that we are lending out on its behalf into equity which will enable us to be adequately capitalised.
"Another option is for the Government to increase the money that they loan to us for on lending so that returns from that money can adequately meet our needs," he said.
