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 Small Enterprise Development Corporation (Sedco) has, since 2002, distributed loans amounting to $949 million to over 1,557 borrowers under the Small-to-Medium Enterprise (SME) fund, a company official said.
The Secretary for Industry and International Trade, Mr Stuart Comberbach, has announced that the draft policy on small and medium-scale enterprises is almost ready and will be brought before Cabinet for approval over the next few weeks.
The Zimbabwean Ministry of Industry and International Trade last Monday released US$250 million for disbursement to small and medium scale enterprises.
Although it had a net loss under current cost accounting, ZDB Financial Services saw its net profit increase by 177% in historical terms.
