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Foundation to invest $3m on SMEs

22 May, 2018 - 00:05 0 Views

The Herald

Business Reporter
A diversified organisation, Fig Tree Foundation, intends to invest $3 million in the next five years on small businesses in Goromonzi District in an effort to uplift people’s livelihoods.

Already, the foundation has disbursed $500 000 towards various rural projects under Goromonzi North area.

Met Bank CEO and Fig Tree founder Ozias Bvute, told The Herald Business that various projects have already taken off with a view to improve rural population’s source of revenue.

“We intend to undertake various projects in Goromonzi North worth $3 million in the next five years and over 25 000 people are expected to benefit from that fund. We are targeting a total of 5 000 people at a time while giving them $300 000 in the process,” said Mr Bvute.

“In line with that vision, the foundation is also spearheading a rural investment fund, Fig Moolah, which has already seen about $500 000 in seed capital for businesses and income generating projects being distributed across Goromonzi North.

“Some 1 700 youths, women and men have already been registered under the fund.

In addition, the foundation is also looking to address the problem of sanitary for rural school girls who struggle to access the products due to high costs.

“One hundred and forty-five sewing machines have already been purchased for the purpose of establishing women’s cooperatives, which will manufacture much needed sanitary wear for girls in the province,” he said.

Mr Bvute said a rural investment and empowerment programme initiated by the Fig Tree Foundation, is helping transform the livelihoods of thousands of families in Goromonzi North.

One of the Foundation’s key interventions has seen some 7 000 locals being trained on how to run a successful chicken business with 68 000 birds having already been distributed across the district to help them get started.

Fig aims to ensure that at least 12 000 successful chicken farmers feeding into national demand are based in Goromonzi North.

Meanwhile, work is also underway to narrow the urban-rural digital divide with some 20 computers set to be acquired for local schools, while a fibre connection has already been established from Harare to Arcturus to address the lack of internet access in the area

Mr Bvute is currently Zanu-PF’s aspiring House of Assembly candidate for Goromonzi North constituency.

He said when elected, he would help “make everyone productive and responsible, not only for themselves and their brother, but their neighbour and the environment as a whole.”

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