Zionites Group

Loan description:

Winnet Ngwendere is a young woman aged 28 staying in Glen Norah, a suburb in Harare. She is married and has three children of which all are boys.

Winnet sells small items in bulk like phone batteries, chargers, covers and other phone accessories. She and her husband have run this business for seven years. She and her husband take it in turns to restock from South Africa and China. They rent a shop in central Harare. Her business is mostly wholesale to manage the rate of stock turnover despite selling at a small profit. Winnet joined Thrive Microfinance with her business friends in 2015 where they received initial financial training on how to manage their businesses and effectively utilise the loan and named their group Zionites. Since receiving her first loan, she has managed to buy land, build a house and furnish the house during the loan period. She has also managed to send her children to better schools despite the tuition charge. The group recently attended a refresher training course on how to continue growing the business through borrowing. The group received a total group loan of $3000 as additional capital. Winnet will use her loan to extend her business by starting to sell cell phones on top of being a major supplier of phones and accessories. She plans to achieve this by sourcing her stock of cell phones from Dubai.