Published: 25 November 2013

Funding constraints are hampering the formation of a micro-finance bank that is aimed at enhancing funding of small to medium scale enterprises.

The government gave the Small Enterprise Development Corporation (SEDCO) the green light to set up the bank last year.

SEDCO General Manager, Ms Gladys Kanyongo said that funding is the only impediment to the process, but the setting up of the bank will help the organisation in assisting emerging business people.

Optimism is high that capacitating of SEDCO under the ZIM ASSET economic blue print will set the ball rolling in the creation of the bank.

It is envisaged that a pool of resources will be created once the bank is formed and this will facilitate easy access to funding and loan financing to micro, small to medium scale enterprises.

Statistics show that the SMEs sector has become the largest source of employment in the country, creating 5.7 million jobs and generating $7 billion in revenue.
- zbc

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