HARARE– PREVAIL Group International on Friday officially launched Talk and Pay (TAP) Microfinance Company with the event marking the donation of two 30-tonne truck loads of rice and cooking oil to the Defence Forces in recognition of their service, reports Express Mail Zim.
The donation was conveyed through official channels by Prevail Group and handed over to the Minister of Defence Oppah Muchinguri-Kashiri by Prevail Group chief executive Tendai Sithole during the gift presentation slot of the programme.
Prevail said the gesture acknowledged the contribution of the uniformed forces to national stability.
Defence and War Veterans Minister Hon Oppah Muchinguri-Kashiri received the donation and welcomed TAP’s focus on the security sector and rural communities.
“Your inclusion of our hard-working labour force in your customer segment is consistent with the Second Republic’s commitment in safeguarding the welfare and dignity of our labour force. The tailored payroll-based loan facility will indeed provide another avenue to improve the welfare of our labour force,” she said.
“As the Minister of Defence, I was glad to learn that men and women in the security sector are set to benefit from this loan facility. Many a times, this special sector is excluded from the mainstream financial products. I was also equally delighted to note that Talk and Pay Microfinance is specifically targeting women-led businesses and rural-based entities as priority areas. Studies consistently confirm that capital availed to women circulates faster in the local economy.
“When women are extended with loans, you are investing in the whole household, and also in the community as a whole,” she added.
Hon Muchinguri-Kashiri said TAP’s products are aligned with national development policy.
“Your financial products are carefully thought out and align with our President’s profound development principles of leaving no one and no place behind. Once again, we applaud Prevail Group for being international, creative and bold to go where the mainstream financial sector has been unwilling to go. The Second Republic, under the sound leadership of His Excellency Dr E.D. Mnangagwa, remains committed to facilitating a conducive environment for the financial service sector to thrive.
The current ease of doing business reforms we extended to the sector with several licenses and fees reviewed downwards. Equally important is the need to protect our citizens from distress and debt traps. As we move into Vision 2030, financial products should serve as pathways to self-actualisation and prosperity.”
Prevail Group International Chairman Dr Paul Tungwarara said TAP was developed in line with the President’s vision for rural transformation.
“Before I go into my speech, I just want to say, for this TAP to be here today, these are the brains of the President. After we had done a lot of initiatives, I sat with him and he said, we must do something especially for the village businesses units that we are doing for our rural communities. Then we came up with this idea. Obviously he is involved, obviously he wants to see things happening as the President who has people at heart. That’s why there is TAP Microfinance which is offering interest at low cost and some of these people are close to us,” said Dr Tungwarara.
TAP Microfinance scheme will provide payroll-based loans and targeted support to women-led and rural-based enterprises, with distribution of the donated consignment to defence forces units set to begin soonest.
Express Mail Zim