Vice President Munangagwa has unveiled a $90 million package to help emerging trades and enterprises which should formalize their operations. The major factors leading to this was the gradual realization that the modern day Zimbabwe is hinged on many informal operations which range from small to medium businesses. Of the $90 million facility, $10 million will go to horticulture, $15 million to cross border traders, $40 million for the gold facility, $15 million for women empowerment, while $10 million has been earmarked for business linkages. The RBZ deputy governor has echoed the sentiments that we cannot give money to people of no fixed abode in the reference to the informal sector which now being encouraged to formalize their business operations so that they can join the mainstream of the economy. Operating an informal unregistered business is considered risky and makes it hard to get funding.
A note from StartupBiz Zimbabwe: Everyday we send business updates via Whatsapp. Click the link to join: https://chat.whatsapp.com/G86MWYFiXvD7HfFjGuBJzh or send the word join via Whatsapp to +263778798072 (Whatsapp us by clicking the link https://wa.me/263778798072).