The ManicaPost
The Civil Servants Business Union of Zimbabwe (CSBUZ) plans to meet the Government and the business community to unveil its plans to raise $100 million out of its proposed multi-million dollar business model. In February the union announced plans to rally government workers to contribute to a fund which will be used to invest in various sectors of the economy for their benefit.
The recently established union has three units, namely the Credit Co-operative Society, Association in Finance (Assofin) and a company, Sosolo General Dealers. Contributions from members would be used to invest in businesses in different sectors of the economy while members would also have access to loans through the credit bureau, with plans also afoot to establish a commercial bank.
CSBUZ president Wonder Baudi said the business concept was aimed at encouraging investment for the sake of creating a fund for onward lending to its targeted one million members.
“The CSBUZ realises very well that the majority of Zimbabweans have no money and cash has become a rare commodity in the country and with the intended plans we are encouraging the Government to introduce the bond notes.
“The country has reached a stage where money supply in foreign currency cannot meet demand and that a local component must compliment the cash as a measure to map out the reintroduction of our own currency.
“On the other hand, the CSBUZ has come up with plans that involve every Zimbabwean in the country, the Diaspora, entities and organisations to realise their potential in investment and not to wait for the government to create employment,” he said.
Mr Baudi said negotiations were in progress with the government to strike a deal that would address unemployment.
“The Government has already announced its intentions to introduce bond notes which are being resisted by some quarters due to political posturing but to us it will complement our plans in a big way and we appeal to fellow Zimbabweans to support the move,” he said.
“Some Zimbabweans are failing to appreciate the move to ban importation of certain basic goods. The move shall bear fruits in the long run as it encourages the manufacture of local goods and job creation. Once our program starts functioning these are opportunities that we want to take up and we feel we can complement the government for such a good move though it is painful as people are used to cross border trading. We cannot be a country of vendors and traders without manufacturing our own goods,” he said. – New Ziana.
