Flamingo Marondera Group needed £774.65 for their business.
Tabeth is a hard-working woman who sells clothes, shoes and kitchenware that she buys from South Africa. She buys her goods at the beginning of the month and supplies her customers on credit. At the end of the month she collects her payments and the cycle continues. During the week, Tabeth goes to rural areas and farms to sell second hand clothes. At times she exchanges her goods for maize and livestock when her customers do not have cash, and in turn sells the livestock in Marondera to recover her capital. This has been her means of survival for the past 5 years. Tabeth is a 44-year-old mother of 3 children. She is married, her husband works for the local Municipality in Marondera. His income is not enough to cover all the expenses for the household, so Tabeth helps her husband by raising income to cover some of their family expenses. During the holidays and weekends, her children help by selling homemade floor polish in their community of Cherutombo. Tabeth is part of a group called Flamingo which received a loan of $1000 from Thrive Microfinance. Tabeth will use her $300 portion of the loan to buy clothes and shoes to resell.
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: 08 February 2018
|Date||Expected repayments||Actual repayments|
Rotary Club of Shrewsbury