amos midzi.jpgZanu PF Harare province says the concept of savings clubs can be a tool to enhance the livelihoods of the urban poor if managed in a transparent manner.

The concept of savings clubs amongst women has been the most common form of cooperatives in Zimbabwe as most people are not employed in the formal sector.

However, with the advent of the multiple currency regime, the concept is now being carried out on a large scale.

Harare Province Chairman, Ambassador Amos Midzi who was speaking at the commissioning of the Kubatana club in the capital noted that the concept can help in sustaining livelihoods but called for transparency and accountability in the handling of the members’ contributions.

The members’ who went through a comprehensive training programme on how to improve the concept as a model for economic empowerment, noted that savings clubs promote self-reliance amongst the members through the implementation of self help schemes.

A savings club is a group of people who gather regularly inorder to save and to put their individual savings in one account.

Most of them generate modest incomes from the informal sector.

The programme which began as a modest venture has since developed into women’s round tables which have seen some women buying cars.