Ulpine Group

Harare, Zimbabwe

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Ulpine Group needed £1364.34 for their business.

Amount Requested

Amount requested:

£1364.34

Repayment term

Repayment term:

6 Months

Activity type

Activity type:

Farming

MFI Partner

MFI partner:

Thrive

The Ulpine group consists of four self-employed ladies who run different businesses.  Vimbayinashe Nyabadza is in the business of rearing chickens and market gardening.  She is a 41 year old widow with three children staying in Borrowdale, Harare. 
She started her business 3 years ago and it has been sustaining her family ever since then. The group learnt about Thrive Microfinance at a church conference and formed a group.  The group consists of Agnes Moyo who is into farming, Getrude Gwenhamo who sells second hand clothes and Chipo Mamvura who runs a tuck shop.  The group was interested after learning of the low interest rates Thrive provides as well as its vision and mission statement, this drove their eagerness to apply for a loan.
Place is a determinant factor when one is setting up their business. If the business is wrongly located it will barely make it and when it is located correctly then the owner will definitely enjoy high returns. Vimbayinashe has located her market gardening in Domboshava. The location is a hub of activity which is a great advantage as her business is frequented regularly. She sells products such as maize meal and other products. 
Vimbayinashe is planning to invest her share of the loan to restock 100 broilers and to purchase seedlings and green house plastics for her farm. As a group the ladies requested a combined loan to invest in their businesses.

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: 12 June 2017

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Ulpine Group's loan Repayment schedule

Date Expected repayments Actual repayments
June 2017 £124.03 --
July 2017 £206.72 --
August 2017 £206.72 --
September 2017 £206.72 --
October 2017 £206.72 --
November 2017 £206.72 --


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