Government to support 70 innovative businesses in the Western Province
At least 70 projects in Districts within the Province that excelled in"Hanga umurimo"campaign to promote an entrepreneurship culture will receive government backing to acquire loans from financial institutions.
Members of selection committee
In the Western Province the selection took place on 28th to 29th of March 2012, at Provincial Headquarters and made by a team of experts from leading financial institutions.
Besides facilitating them to acquire loans by acting as guarantor, the government will continue to assist the successful projects with technical assistance, through the Business Development Fund.
The campaign is part of government's efforts to boost the number of small and Medium Enterprises (SMEs).
Speaking to the media on Monday 26th March 2012, Trade and Industry Minister, Francois Kanimba, said that the programme will support people to start up businesses, become self employed and create jobs for others as a way of steering the country's economic development.
According to Kanimba,most of the project presentations are good and persuasive for financial backing.
On what should be done to foster several other business projects developed by those that may not qualify for support this year, Kanimba said the programme would be ongoing.
"This programme will not end here, it will continue as we urge the rest to approach the Business Development Fund as another altelnative. Banks showed a will to support more business plans,"Kanimba observed.
The campaign called "Hanga umurimo", which means "Create job", was launched, late last year by the Ministry of Trade and Industry, aims at scouting for at least 10 projects in each of the 30 Districts of the country with an emphasis on those that could provide more jobs.