Fund distribution assessed

The Governor and resident minister of Bulawayo province, Ambassador Cain Mathema, has called for the fair and transparent distribution of the Distressed and Marginalised Firms Funds in a bid to restore the city to the industrial nucleus of Zimbabwe.

Cain Mathema
Cain Mathema

The funds, which were officially launched by the Minister of Finance Tendai Biti, are aimed at resuscitating and alleviating challenges faced by the Bulawayo industries.

Mathema said he was grateful for the gesture by the government.

“As the Governor of the Bulawayo province, I welcome the gesture by the government and hope that these funds will be accessed and distributed in a fair and transparent way,” he said. “I hope the funds will be distributed properly without looking at one’s political affiliation and tribe for the revival of these industries.”

The Governor also challenged residents to apply for the industrial stands and start new companies to restore the city’s industrial status.

“Bulawayo needs more new companies and there are stands available from the United College of Education. Luveve has an export processing zone that we should use to start new companies,” said Mathema.

He urged the youths to identify projects and submit proposals to the banks in order to own their companies and be self-reliant.

“I encourage the youths to utilise this opportunity, identify projects and submit project proposals to the financial institutions so that they can be self-reliant and promote economic development,” he said.

Companies who want to access the $40 million fund for distressed and marginalised firms can apply to CABS Building society in Bulawayo.

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