Revolving Fund Spurs Women Traders
A new women’s Revolving Fund, spearheaded by Bulwayo Vendors and Traders Association (BVTA) Ward Seven based members is keeping women off the couch by funding them to start up small businesses that will keep them occupied as well as provide them with income. Ward Seven Chairperson, Edith Ndebele said that their motive was to help uplift each other as women to start businesses and be self-sufficient. “Our objective was to uplift each other so we came together and contributed five rands each which amounted to R130 which we gave to one member to spin/use and then bring it back with R20 interest after a duration of one week,” Edith Ndebele said. The group members organised a set-up whereby they gather every week to each contribute five rands, and give the total amount to one group member who will then go and start a small business with it, to then come back the following week and pass on that amount with twenty per cent interest to someone else while they retain the profit. This means that the following week two people will be receiving the start-up money, one from the weekly contributions and the other from the previous beneficiary. This scheme should see an increasing number of beneficiaries every week.
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