US$200bn facility set up for SMEs


Small-and medium-sized enterprises (SMEs) can benefit from a US$200bn facility provided by the government.

SMEs in the productive and value-added sectors have an access to these funds through the Small Enterprises Development Corporation (Sedco) and the Zimbabwe Development Bank (ZDB).

"The funds are meant for SMEs that are facing serious cashflow problems, particularly those facing possible closure, or operating below 30 per cent capacity, under-capitalised, recently closed and under judiciary management," said Sedco's business development manager Mr Wilson Fifteen.

According to Mr. Fifteen the fund is intended to provide money for working capital. To access the fund, SMEs have to apply to Sedco or ZDB attaching project proposals stating reasons why the company ended up distressed and how do the they plan to solve problems with the loan.



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