Knowe Group has fully repaid their loan of £1927.01
Many assume retailing is only about buying and selling, but to Catherine Chipinda it is the reason why her business meet the needs of her community as well as for her family income. She has been in this business for the past two and half years. With the support from her husband who mostly travels to Harare weekly for restocking, she is concentrating on making sales in her grocery shop daily.Catherine is aged 35 and has got 3 children all going to school. She is a tenant; her great hopes are to have her own place of residence in the near future. With this in mind, she is looking ahead to use her savings to buy a stand. Her tuck-shop business is located along a busy road in Knowe area where the Bakeries come and delivery fresh bread daily at her shop. Selling bread and other breakfast necessities has become greatest income source of her business. She started this business as a small stall just before she came to Thrive for her first loan in April 2017. She is a member of the Knowe group. The other group members are Rachel Mudzimu, Fungai Nhawu and Grace Chirisa. They named their group referring to their place of residence in Norton township in Zimbabwe called Knowe. They have known each other through staying in the same neighbourhood. They have been staying in the same location for more than 3 years. Besides this, they also get to know each other through playing part in the savings club. The group loan requested for the members to invest in their income generating activities. Catherine will use her portion of the loan to increase her stock of groceries.
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: 05 December 2017
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