Microfinancier targets SMEs sector

Microfinancier Microcred Zimbabwe is targeting the unbanked and those in the small to medium enterprises (SMEs) offering loans ranging between $150 and $50 000.

Currently, 70% of the adult population is unbanked while there are 5,7 million SMEs in the country, according to a 2014 Finscope survey.

Microcred Zimbabwe acting chief executive officer, Lloyd Borerwe told NewsDay on Tuesday that any business that has operated for at least a 12-month period qualified for financing.

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