Womens' loan club launched
Women’s loan club launched in Gweru
Flots Women’s Club, a loan facility meant for women to access affordable, short term loans at low interest rates has been launched in Gweru.
The club is a brain child of Flora Bhuka, the minister of State in the President’s Office and Senator for Gweru-Chirumanzi, Tsitsi Muzenda.
At least $20 000 has been injected into the Club to help finance women projects.
One has to be a member in order to access the loans, which are payable within a period of one year.
The projects will be assessed and administered by the CBZ and Bank ABC.
Projects targeted for funding include sack potato farming, flea market businesses, poultry businesses and agro business which generate income in a short period of time.
Muzenda told The Zimbabwe Mail: “The FLOTS Women Club is a little thank you we are giving to women in the Midlands’s province and as a compliment to women to participate in the economy. We strongly believe that if you empower a woman the whole family is empowered.
The projects and funds are being administered through commercial banks which are CBZ and Bank ABC. It is currently small but in the long run we want it to be big. We want women to do away with begging and engaging in other illicit practices such as prostitution.”
She said she looked forward to spreading the club across the province and ensure that all women, youths and men are also incorporated and benefit from thew club.”
The club was unveiled during the ZANU PF Women’s League ZimAsset conference in Gweru recently.