INHLANYELO FUND GIV­ING SMES LIFE­LINE

Swazi Observer - - BUSINESS - By Mh­lengi Ma­gango

IN pro­mot­ing the Small and Medium En­ter­prises (SME) sec­tor in the coun­try, Inhlanyelo Fund is sup­port­ing over 50 ven­dors who are bring­ing food to the ta­ble for their fam­i­lies and send­ing their chil­dren to school.

This was con­firmed by Inhlanyelo Fund Chief Ex­ec­u­tive Of­fi­cer Wandile Kunene, who said the or­gan­i­sa­tion an­nu­ally funds more than 50 mar­ket ven­dors based in Lobamba and Mba­bane mostly.

At the be­gin­ning of the year, mar­ket ven­dors visit the or­gan­i­sa­tion to bor­row money, which is to be used as work­ing cap­i­tal payable with an an­nual fixed in­ter­est of 15 per cent. The in­ter­est is the low­est com­pared to what other fi­nan­cial in­sti­tu­tions charge.

Funds

May­bel Mndze­bele, one of the mar­ket ven­dors sell­ing fruit and veg­eta­bles at Lobamba bus rank, said the funds they re­ceive from the or­gan­i­sa­tion are able to as­sist them to bal­ance busi­ness from per­sonal needs. She said with the funds, the work­ing en­vi­ron­ment be­comes friend­lier.

“When we re­ceive the money, we are able to buy high qual­ity stock for our mar­kets, the in­ter­est is not high and also we are able to pay the money in in­stal­ments, which makes it easy to pay it back” she said.

Mndze­bele said after re­ceiv­ing the work­ing cap­i­tal loan, they are able to use the prof­its they made the pre­vi­ous year to fi­nan­cially pre­pare for the open­ing of schools in Jan­uary.

She added that they are able to buy school uni­forms, as well as pay for school fees.

The ven­dor has been us­ing funds from the or­gan­i­sa­tion for more than two years. She first re­ceived a loan of E4 000 in 2017 then E8 000 in 2018.

Mndze­bele said work­ing as a ven­dor sell­ing fruit and veg­eta­bles at a bus rank is very com­pet­i­tive. She said one re­quires hav­ing fresh qual­ity stock on a daily ba­sis in or­der to at­tract cus­tomers.

“Work­ing as a mar­ket ven­dor re­quires one to be vig­i­lant, and most im­por­tantly, make sure that the cus­tomer is sat­is­fied at all times so that they can come back.

‘There are more than 10 peo­ple sell­ing sim­i­lar prod­ucts at sim­i­lar prices, so you have to make sure you have qual­ity stock” she said.

(Pics Mh­lengi Magongo)

POSE: Ven­dors funded by Inhlanyelo Fund pos­ing for a pic­ture with Nathan Kirsh (mid­dle), Lobamba Bu­copho Vusi Mavuso (4th l) andInd­vuna Pau­los Malaza (l). LEFT - MY SHOP: May­bel Mndze­bele seated next to her mar­ket.

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