Cross border traders to explore export markets Zimbabwe Cross Border Traders Association president Dr Killer Zivhu addresses traders at the launch of the $15 million facility for the traders in Bulawayo, while Minister of State for Matabeleland North Provincial Affairs Cain Mathema (third from left) and other officials follow proceedings yesterday
Zimbabwe Cross Border Traders Association president Dr Killer Zivhu addresses traders at the launch of the $15 million facility for the traders in Bulawayo, while Minister of State for Matabeleland North Provincial Affairs Cain Mathema (third from left) and other officials follow proceedings yesterday

Zimbabwe Cross Border Traders Association president Dr Killer Zivhu addresses traders at the launch of the $15 million facility for the traders in Bulawayo, while Minister of State for Matabeleland North Provincial Affairs Cain Mathema (third from left) and other officials follow proceedings yesterday

The Zimbabwe Cross Border Traders Association (ZCBTA) will soon dispatch some of its members to Equatorial Guinea and South Sudan to explore export opportunities, as the organisation readies to start exploiting the $15 million facility recently availed for cross border traders by the Reserve Bank of Zimbabwe.

ZCBTA president Dr Killer Zivhu said there were vast opportunities for cross border traders in countries such as Equatorial Guinea, South Sudan and Angola, which could boost the country’s exports and earn foreign currency.

Speaking during the official launch of the $15 million facility for cross border traders in Masvingo on Friday, Dr Zivhu urged people in the province to fully exploit the fund to help generate foreign currency.

He said countries such as Equatorial Guinea, South Sudan, Malawi and Angola had lucrative markets for products such as beef, chicken and eggs.

“We will soon dispatch several delegations of cross border traders to countries such as Equatorial Guinea and South Sudan, among others, so that they can explore markets for products such as beef, eggs etc, that we can sell in those countries and generate foreign currency using the $15 million facility,’’ said Dr Zivhu.

“In Masvingo, we want as many people as possible to benefit from this foreign currency facility, but that can only happen if many people are members, so I encourage the people of Masvingo to become members of the (Zimbabwe) Cross Border Traders Association for them to benefit.’’

Dr Zivhu said his association had the potential to generate millions of dollars in foreign currency per month if Zimbabweans took advantage of lucrative markets across the African continent and beyond for various locally available products.

Speaking at the same occasion, Masvingo Provincial Affairs Minister Senator Shuvai Mahofa urged people in the province to work closely with Dr Zivhu, saying cross border trading had the potential to root out rampant poverty in most communities.

“Government decided to join hands with the Zimbabwe Cross Border Traders Association to avail affordable loans to those who are ready to venture into cross border trading and I can assure you that if we can fully utilise this facility ($15 million), we will greatly reduce poverty in our communities,’’ she said.

Sen Mahofa urged people in Masvingo to become members of the association for them to benefit from the $15 million facility availed by Government through the central bank.

The facility was also launched in Bulawayo yesterday and cross border traders have started accessing it.

Speaking at the launch in Bulawayo, Dr Zivhu said the facility provided an opportunity for members to easily access foreign currency for their businesses.

“Modalities have already been put in place to ensure that you can access as much as you want to access when travelling out of the country on business,” he said.

“There is a limit that the Reserve Bank has set when travelling outside the country, but if you are a cross border trader, let’s say you want 200 000 South African rand, you can be allowed to take it out for business as long as you have a letter from the Reserve Bank to confirm that it is not about money laundering and externalisation.”

The $15 million facility unveiled for cross border traders is expected to stimulate growth in the cross border trading business that has the potential to help in the turnaround of the economy through increased exports.

The cross border traders would have to open accounts with Agribank, which they will take to the ZCBTA for recommendation to Homelink, where they will receive the funds. — Masvingo Bureau/Bulawayo Bureau.

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