Descent Group

Zvimba, Zimbabwe

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35263
35263
35263 - thumbnail
35263 - thumbnail

Descent Group needed £744.36 for their business.

Amount Requested

Amount requested:

£744.36

Repayment term

Repayment term:

6 Months

Activity type

Activity type:

Retail - food

MFI Partner

MFI partner:

Thrive

Tracy Timba is a member of the Descent Group, she is a 35-year-old living with her family in Granary Township in Zvimba. she has 2 children all of them attend local schools. Her husband is a self-employed technician; he contracts are done mainly from locals who intend to be building their homes and sometimes from local churches. The family is currently using a 3-roomed cottage, but their desire and hope is that they will build a bigger house.

Tracy owns a mini Grocery shop which is located at a street corner. She has been doing this business for about 10 years now. This business is one of her family’s main income streams. She no longer must depend upon her husband because she is financially dependent through her business.  She takes 2 to 3 trips every week traveling to Harare to buy stock in bulk. She usually uses $200 to $300 per week for restocking her store.  The group members came to Thrive in April this year and are applying for a combined loan to help in financing their income generating projects. Tracy plans to reduce the costs of multiple traveling by purchasing stocks in bulk. It usually costs her $10 per trip in traveling to Harare for restocking her store, with her share of the loan she will reduced her traveling costs around $20 per week by traveling once a week and buy all the goods for her store in bulk.

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: 09 July 2018

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Descent Group's loan Repayment schedule

Date Expected repayments Actual repayments
July 2018 £67.67 --
August 2018 £112.78 --
September 2018 £112.78 --
October 2018 £112.78 --
November 2018 £112.78 --
December 2018 £112.78 --


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