Vendors urged to form co-operatives

THE Bulawayo Vendors and Traders’ Association (BVTA) has encouraged members to form savings and credit co-operative societies (SACCOS) because they continue to be shunned by the formal banking sector.

BVTA executive director Michael Ndiweni said the vendors’ representative body has also rolled out financial literary training programmes for its members to help them form SACCOS.

A SACCOS is created by a group of people with a common interest such as churches and vendors with the objective of saving money collectively, then make loans available to the group’s members.

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