Challenges in Zimbabwe
Zimbabwe has been going through a turbulent period of hyperinflation, drought and economic instability. Many companies have closed or downsized, leading to widespread loss of jobs. As a result of unemployment of well over 80%, many people have resorted to running small businesses such as food stands, hair salons and sewing in order to earn a living.
These small businesses cannot access the capital they need to grow from traditional banks. This is because the amount of money they require is too small and they often lack physical items to provide as collateral. Through access to micro-loans, which are small loans that are invested into income-generating activities, small business owners are able to grow their businesses and better provide for their families.
Project Overview
Impact Nations is partnering with One Way Ministries International in a micro-credit program in Zimbabwe. The program is intended for social development and the funds will be managed through a registered financial institution. One Way Ministries International is a Christian Ministry based in Harare, Zimbabwe. Its church network includes over 30 urban and rural centers, and its annual Prayer Networking Conference ministry mobilizes prayer among Christians from various nations.
This partnership connects individuals who want to invest in the lives of others with hard-working entrepreneurs in Zimbabwe. Contributions to the program will be used to fund micro-loans which will be repaid over six months. As each micro-loan is repaid it can be recycled as a new loan, thus multiplying the impact of your donation.
Project Coordinators
Michael Mandiveyi is a businessman with interests in agriculture, distribution and development consultancy. He is a member of One Way Ministries International, and serves as Coordinator of its Prayer Networking Conference series. Michael’s recent work experience involved project management for an International Development Agency operating in Zimbabwe.
Greg Skowronski is serving as an adviser to Impact Nations and One Way Ministries International for the development of the micro-credit program. He recently held the position of National Director of Micro-credit with Paradigm Shift in South Africa. His prior work experience includes private equity and investment banking in Atlanta and on Wall Street in New York City.
Please make a long-lasting investment in lives of these entrepreneurs today!
Michael Mandiveyi and Greg Skowronski
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Permalink Update from Doug Penner on Permalink Update from Doug Penner on Mike Mandiveyi:
Cecilia Katsande got her loan amount on December 1, 2011, and has used same to purchase added stock from the rural areas, meaning that she will not have to make as frequent trips to the rural areas. She has so far sold stock ware worth $171 as of last week, and although she delayed getting her purchase in place, she feels she is well on course to be able to pay her first installment of $25 which is due this December end. A more detailed report should be possible at the next reporting period at the end of January 2012, when her stock is expected to have been exhausted.
Permalink Update from Doug Penner on Permalink Update from Doug Penner on 
Permalink Update from Doug Penner on Mike Mandiveyi:
Kindly note that Caleb Bera should be removed from the list, as reported in earlier communication, and replaced by Fungai Mhindu .
Permalink Update from Doug Penner on Mike Mandiveyi:
4. Fungai Mhindo
We have identified Ms Fungai Mhindo as the fifth candidate for a micro loan effective January 2012. There are details we are still expecting from her so we disburse the remaining $200. We will send confirmation on this particular candidate this early January 2012.
Permalink Update from Doug Penner on Permalink Update from Doug Penner on 
Permalink Update from Doug Penner on Mike Mandiveyi:
Gilbert Magureyi has just sold a batch of 200 broilers at a price of $6.00 per bird. The $200 loan that he received was very useful in that he managed to augment to funds that he had to buy feed and veterinary drugs. Thanks to the loan that he did not run out of feed for the birds. He orders batches of 200 day old chicks every 2 weeks and it takes 6-8 weeks to reach saleable weight. Without the loan, he would have struggled to do only one batch every 2 months. At current levels of costs, it takes about $4.50 to raise a single bird. So the gross profit per bird is about $1.50. At the moment, he is still recovering the costs of erecting the fowl run, a process which he estimates will take between 6-9 months at current performance levels.
The challenges he has faced have had to do with debt collection, since most of the birds he sells are on a credit basis. Some customers default and it may take up to 2 months to recover the money. We suggested to him that he should synchronize the sale period with month ends when most of the customers get their salaries.
Looking forward, there should be no problem in repaying the loan. He in his opinion gets enough to be able to comfortably pay off the loan, only wishes that there could be an additional loan with larger amounts. He has so far paid the first installment of $25, and the second of $40, is due now.
Permalink Update from Mike Mandiveyi on hallo Doug .My name is Pretty Garakara I am from Zimbabwe, I am 34 years old. I would like to improve my income and start my own business. Unfortunatly I would need some financial support for a start . As I heard about Micro credit, I am wondering about what exactly it is and how it works. could get some access. I would be very thankful if you could give me some informations about.
Yours sincerely
Pretty Garakara
Permalink Update from Pretty Garakara on Permalink Update from Doug Penner on Email from Mike....
Shalom
Trusting that we find you well.
Regarding updates on the microcredit scheme in Zimbabwe, we disbursed $600 ($200 each), on October 12, 2011, to three of the candidates, namely Tinashe Mawokomayi, Sekai Simango and Gilbert Magureyi. The fourth candidate, Mrs Cecilia Katsande is yet to return the agreement form, so she can receive her loan. Regarding Caleb Bera, his Pastor, Itayi Chidewu has advised us that he is no longer coming to church and his whereabouts are unknown so far. He recommended that we drop him and look for another candidate. We will be advising you once we have been able to identify one.
We will also be updating you on the three's progress early next month, and also regarding the next batch of prospective candidates.
Kindly advise if there is anything else we should do, especially in terms of procedure etc.
God bless
Mike Mandiveyi
Impact Nations builds bridges of hope, healing and justice between the world's most vulnerable, and people compelled to make a difference
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