MEMBER of the House of Assembly for Makokoba Retired Colonel Tshinga Dube has secured a $500 000 loan facility for Small to Medium Enterprises in his constituency.
Rtd Col Dube told Sunday News last week that he had reached an agreement, in principle, with a local bank to provide start up business loans to entrepreneurs in the area.
He could not immediately reveal the name of the financial institution as negotiations to tie up “a few loose ends” of the deal are still on.
Rtd Col Dube said he approached the bank on behalf of entrepreneurs in his constituency who could not access loans because they did not have collateral required by banks.
“This facility does not need collateral, as long as one is coming from our office. If, however, one decides to go to the bank on their own then that is their own story and they would have to provide the needed collateral,” he said.
Members from his constituency recently underwent training in entrepreneurship skills after which they are expected to start small to medium income generating projects.
Rtd Col Dube said after training, the members were enthusiastic to start their own enterprises but lacked funding.
Rtd Col Dube said individuals from his constituency interested in accessing the start-up loans should approach the constituency office to get more details on the loan scheme.
He said everyone was eligible for the loan scheme regardless of their political affiliation.
Rtd Col Dube urged interested individuals to form consortiums and come up with bankable projects.