New Castle Group

Harare, Zimbabwe

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New Castle Group needed £930.77 for their business.

Amount Requested

Amount requested:

£930.77

Repayment term

Repayment term:

6 Months

Activity type

Activity type:

Retail - food

MFI Partner

MFI partner:

Thrive

The New Castle group consists of two ladies who have been Thrive’s clients since 2016.  The group members know each other from their neighbourhood.  They are very supportive of each other’s businesses to the extent that they source markets for each other. Bonezi Padare is a 33 year old single mother of one child. Bonezi runs a tuck shop selling a variety of groceries and clothes. When she approached Thrive, she used to sell outside her house but thanks to the loan she managed to open a mini shop. Even when the economy is difficult and sales are low in most businesses, it is a different story for her in the grocery business. She is able to meet the school fees needs of her son at primary level.  With the profits from the business, she is able to cover some family needs as her ex-husband does not assist her in raising their child. Her group member Bodishia Mutero sells clothing wear, and she has managed to improve her sales.  Thrive training helped them to understand the importance of continuous business cycles in order to maintain customer rate and smooth running of their business and diversification of products to suit customers’ needs. The group has managed to repay their previous loan very well and they have approached the company to apply for a third loan. A loan amounting to $600 will help Bonezi increase her clothing and grocery products.  She hopes to purchase a residential stand in the future through the profits she would have attained.
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: 15 June 2017

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New Castle Group's loan Repayment schedule

Date Expected repayments Actual repayments
June 2017 £84.62 --
July 2017 £141.03 --
August 2017 £141.03 --
September 2017 £141.03 --
October 2017 £141.03 --
November 2017 £141.03 --


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