sithembiso nyoni  min of smes 15.09.10.jpgGovernment is working on coming up with a National Cooperatives Bank in a bid to assist small to medium entrepreneurs to access loans countrywide without the need for stringent collateral requirements currently being demanded by commercial banks.


The Minister of Small to Medium Enterprises Development, Cde Sithembiso Nyoni announced the government’s decision while launching a loan booth facility for small businesses in Lupane.


Cde Nyoni urged rural communities countrywide to form cooperatives in their respective areas if they are to benefit from this initiative saying the facility is meant to upgrade the life of Zimbabweans at large.


“My ministry has set out a plan to have a National Cooperative Bank. Organise yourselves in groups so as to avoid being left out in this noble exercise,” said Cde Nyoni.


Minister Nyoni said rural communities shall work together to develop their areas with local resources, adding that they should do away with the donor dependency syndrome that is turning villagers into beggars.


She urged communities to emulate the Gokwe community which she said has turned Gokwe center from a mere growth point to a town by using proceeds they get from cotton.


The Lupane loan booth facility is a follow-up to the national campaign that was launched by President Robert Mugabe last week in Gokwe and is targeting small to medium entrepreneurs in rural communities that were traditionally marginalised.