Zimbabwean company opens credit facility to help civil servants cope with soaring basic commodity prices

Zimbabwe's economy is fragile and it does not have its own currency

A Zimbabwean private company has partnered with a top meat supplier and a financial institution to come up with a credit facility for basic commodities, initially targeting hard-pressed civil servants.

Many Zimbabweans are used to getting some items such as household furniture and clothes on credit, but having food included in such an arrangement is new.

Operating under the name SPT Nyama and Groceries, the company started operating during the second week of January and, according to chief executive officer Fungai Tsikira, has been warmly welcomed by civil servants who are visiting its offices in the Harare central business district to apply for the facility.

Tsikira said that his company is in the process of partnering with other suppliers so that the facility would also cover other basic commodities such as maize meal, rice, spaghetti, peanut butter and cooking oil.

Tsikira said he hoped the facility would be extended to cover other parts of the country as more partners came on board.

“We’re projecting that by mid-year we should be offering the facility to private companies and we’re also looking for partners so that we can operate countrywide.

He said suppliers would gain an added advantage by selling more of their products instead of getting stuck with them because people would not be able to afford them.

However, Progressive Teachers Union of Zimbabwe secretary-general Raymond Majongwe did not seem amused by the gesture and posted on Twitter one Shana word translated in English as “Have pity on us.”

“Tiregerereiwo,” he said in a post accompanying the company’s flyer advertizing the facility. Enditem

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