Women Empowerment Fund tests creditworthiness
THE Women Empowerment Fund ( WEF) will soon conduct a trial run to assess the creditworthiness of its members before disbursing money under the $500 000 loan facility it launched in April.
WEF, which has more than 300 members in Bulawayo is a subsidiary of the Affirmative Action Group (AAG).
The empowerment fund seeks to deepen the integration of women in economic activities through provision of loans to initiate or improve their businesses.
Fund coordinator Mrs Sally Njolomole, who is also the secretary for women’s portfolio in the AAG told Business Chronicle that the trial was initially slated to begin on August 5.
It had, however, been deferred due to some “few” technicalities that needed to be ironed out before the trial run is rolled out.
“The reason why there haven’t been any beneficiaries to date is because we still need to address security issues and I’m glad to say we’ve found partners in security,” she said.
“The trial period will give out loans of $100 to $200 at zero percent interest payable over a month. Besides the fund, we’ve had some investors adopting women to help them with their businesses.”
She said one of the investors was involved in mining and had adopted women in the smallscale mining sector and empowered them through mechanisation.
Mrs Njolomole said they had also secured an investor from Rwanda and would be travelling to that country at the end of September for meetings.
She said the investor would provide funding aimed at supporting soya bean farmers, goat breeders and free range poultry producers.
WEF is on record saying they were hoping to attract corporate and Government support to ensure that women from all walks of life get the necessary support for the betterment of the community and nation at large.—@BiancaMlilo