THE Presidential Vendors' Empowerment Scheme was launched yesterday in Bindura with a pledge of interest-free seed capital aimed at uplifting informal traders and steering them towards formalisation.
The scheme, unveiled by the Presidential Investment adviser Paul Tungwarara, will see US$200 000 being distributed across the country’s 10 provinces, with each province getting US$20 000.
Tungwarara said the funding targeted market traders, vendors and other informal business operators who often lack access to conventional financial services.
He said the initiative was part of a broader strategy to “recognise the resilience of Zimbabwe’s informal economy and support it with tangible, interest-free financial resources”.
“This is not just about money. It is about transforming vendors into entrepreneurs and empowering families through sustainable income streams,” Tungwarara said.
He said the funds would be administered in co-ordination with local authorities and vendor associations to ensure transparency and equitable distribution.
The scheme adds to a series of presidential empowerment programmes that have been unveiled in recent months targeting various interest groups, including war veterans.
Some of the programmes spearheaded by Tungwarara include Presidential War Veterans Borehole Scheme, Presidential War Veterans Housing Scheme, Presidential War Veterans Fund and Presidential Solar Programme.
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Coming 45 years after the end of the liberation war, the timing of the presidential war veterans empowerment programme has, however, raised eyebrows.
Many veterans are now elderly and financially destitute, casting doubt on their ability to build homes even if they receive stands.
Critics say the initiative may be politically-motivated to appease disgruntled war veterans who have voiced frustration over living in poverty and called for President Emmerson Mnangagwa’s resignation.
Zanu PF adopted a controversial resolution at its annual conference last year to have Mnangagwa’s term of office extended from 2028 to 2030.
But Mnangagwa insists that he is a constitutionalist and will step aside in 2028 when his current term comes to an end.
