Home > Money Matters, Zimbabwe > SEDCO offering loans

SEDCO offering loans

 SEDCO, (Small enterprise development Cooperation) has received  US$250 000a for small loans for entrepreneurs. These loans are for an amount not exceeding $2000 and are payable at 15% interest per Annum. However these loans are to be paid of in three months. To qualify for this loan an entrepreneur should have collateral and generally fulfill the requirements for a normal loan. Most entrepreneurs will not qualify for these loans, and even if they did, the loans would put  a yoke on their back . A third of the world’s population remains outside the credit of traditional banking. In Zimbabwe this percentage is more than double. How then, can we encourage entrepreneurs when entrepreneurs do not have access to finance?

Around the world SME loans are usually not as stringent as bank loans. In some cases, entrepreneurs are given a window period of about a year before they need to begin paying back these loans. Longer period of repayment, low-interest rate. These SEDCO loans are the total opposite. I am not a banking expert, but to me, these loans expose them to higher risk.

Professor Yunus has been quoted regularly saying, “The ‘rich’ aren’t paying their loans back at the moment,” he said. “The poor are … every time … 99.6% of our loans are paid back. So who’s a bigger risk?”

While businesses had fantastic technology at their disposal with which to tackle the world’s problems, the drive to make profits prevented them from using these technologies to help people. Prof Yunus of the Grameen Bank

I do not recommend these loans to entrepreneurs, unless they are positive beyond reasonable doubt that they can pay them back. In a nutshell, the economy is still working on a cash basis. This is good start. Things will get better and their loan requirements will loosen.

Womens Bank

On  a positive note, a women’s bank is set to open by the end of the year.  This will bring finance to the marginalised women of our nation. PBA is also working on offering long-term, low interest micro  loans, such as those popularized by the Grameen bank. Access finance will assist the poor to get out of poverty.

Categories: Money Matters, Zimbabwe
  1. mlamleli
    March 17, 2011 at 2:03 pm

    i am a 30 years old guy who is looking for USD5 000 BUSINESS LOAN .PLEASE ASSIST .

    • March 18, 2011 at 10:37 am

      Where are you? Give me a bit more details aboutwhere you are and we can see if we have information for you. All the best.

  2. Taurai Mhokore
    May 12, 2011 at 5:24 am

    Im a registered company but havent started operating since I was looking at the opportunities based on our economic trend.

    We need funding to support the development of this business case, we hope to find all answers or pointing us to right direction(s) where we can be able to be assisted. We are an SME but we will grow with business and our people at large, hence making Zimbabwe proud of an innovative state of art ever in the world.

  3. Chianike S
    September 27, 2011 at 1:43 pm

    I was appointed as one of the Consultant to assist in training and development of your customers. I would be glad to work on some of your assignments if there are any. Thank you

  4. crispen filimon
    October 4, 2011 at 4:59 pm

    hi my name is crispen filimon am 32yrs old ,am based in kariba.am currently working as a branch manager for a retail supermarket .but am supposed to leave end of october am serving my notice period .i have left left because the salary is low and the condition not good am looking for assistance to start up a new project for chicken feed sales and coarse salt sales for drying kapenta as you know kariba for kapenta .the demand for chicken feed and coarse salt is very good but the only shop this side is failing to meet consistency and demand the project requires about $10000 to purchases and expenses with a projected net profit of $3600 for the first month.my contact details:home address stnd 944 nyamhunga ,Kariba ,email: crispen.filimoni@gmail.com cell#0779160777 or 0774430640

  5. tinashe
    October 27, 2011 at 1:45 pm

    i need a loan of US4500 to finance a business that my father left for me it was in great debt, but i wish to start it on a new page

    • October 27, 2011 at 2:02 pm

      Hello Tina
      A great man leaves an inheritance for his children. Your dad left you a businessand you are blessed. With a little bit of focus and determination you will be able to turn it around. You are already one step ahead of a lot of poeple, you have intellectual propoerty, you have an established name and that is a lot going for you. With regards to finance, we can direct you to where loans are being given. Sedco is offering loans at the moment. As always I recommend loans from friends and family, savings, or just starting small. I wish you all the best. Also consider attending one of our Micro Mba courses. You will learn a great deal that is not taught in Business School. The practical side of business is so different from the theory you learn in uni. All the best.

  6. tinashe
    October 28, 2011 at 3:36 pm

    thanx so much zimdev, i will try and i will come to you when everything is inorder

  7. Dadirai
    March 16, 2012 at 11:46 am

    I and my partners started a business in the fibreglass industry. We are facing financial challenges and would want a loan so that we will be able to meet the demand and develop our products to match international standards and import quality goods so as to give value for money

  8. kudakwashe mahachi
    November 8, 2013 at 12:18 pm

    I am a man aged twenty seven , looking for a loan to start poultry production in hwange.

  9. May 30, 2014 at 5:05 pm

    That is a very good tip especially to those fresh to the blogosphere.
    Simple but very accurate info… Many thanks for sharing this one.
    A must read article!

  10. Fortunate
    October 18, 2014 at 2:18 pm

    Can someone access a loan bt is not a civil servant employed in retail & earn through the bank,

    • October 21, 2014 at 7:59 am

      SEDCO loans are for anyone. I think…

  11. tirivokure mutumwa
    October 21, 2014 at 1:54 pm

    may i have a loan of up to $1000.00 for mushroom production

  12. August 19, 2015 at 4:22 am

    What loans are easily accessible I intend to start a maize production venture starting with 5 hectares

    • August 26, 2015 at 11:10 am

      Hello Mr Gwirambira. I am not sure about loans available right now considering the current economic situation. I am not sure if the banks are still giving loans, but it is worth discussing with your bank, but bank loans have been primarily for those in full time employment. I do not advise taking a loan to start a business, rather scale up you business, start with one hectare then grow from there. Don’t let funds stop you from starting. Start where you are with what you have.

  13. August 19, 2015 at 4:29 am

    I am looking fr a 6000 to start a 5 hectares maize project..I have a pick up truck and a stand bt they are not in my name can I stand a chance of accessing a loan.

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