Zimbabwe
Loan description:
They say wisdom comes with age but I can say wise decisions can be made even at a tender age. About a 100 km North west of Harare lies a small mining town called Bindura. In this small town lives a young, hard-working and enterprising lady called Rufaro Mucheche.
She is 23 years old and started her Flea market business in 2013 when she was just 19 years old. She now specialises in selling baby clothes and is used to the long bus rides she need to take to other countries in the SADC (South African Development Community) to buy her stock. Running her own business has come with its challenges. For instance she said that when she first got into this business she took a long bus ride to South Africa only to discover that the commodities she brought back for sale were not popular in her local market. During the first months of her running her own business her turnover was low but she said her entrepreneurial spirit kept her going. She said that she is now market oriented as she learnt that the hard way. Even though her business took its knocks during this early stages, she was quick to learn and has adapted her approach so that she can meet the demands of her customers and enable her business to grow. She said she chose baby wear because it is not seasonal and hence there is demand for it all year round. In addition to running her business, she is also studying towards a Bachelor of Social Work through UNISA and her business has allowed her to cover her tuition fees. With the profits she generates from her business she also takes care of her 4-year-old son and her parents. She joined hands with four other entrepreneurial ladies and named their group ‘Strawberry’. They applied for a group loan and Rufaro will use her portion of the loan to buy more stocks of baby wear from South Africa.
Please note that Zimbabwe is at present going through a severe economic recession and that there is an additional risk that some of the loans might be delayed or defaulted. You can find more information here.
Loan added: 8 January 2018
Strawberry Group's loan repayment schedule
| Date | Expected repayments | Actual repayments |
|---|---|---|
| £123.19 | ||
| £205.31 | ||
| £205.31 | ||
| £205.31 | ||
| £205.31 | ||
| £205.31 | ||
| £205.33 |
The above amounts are indicative, based on the exchange rate the day this loan was added to the website. The actual amounts you will receive will be based on an exchange rate at the time the repayment is returned to your account. See our Help Centre for more information.
