Muchinguri-Kashiri backs Prevail’s Talk and Pay Microfinance as firm donates food to Defence Forces

Muchinguri-Kashiri backs Prevail’s Talk and Pay Microfinance as firm donates food to Defence Forces
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Defence Minister Oppah Muchinguri-Kashiri has commended Prevail Group of Companies for launching Talk and Pay (TAP) Microfinance, saying the facility supports financial inclusion for people who remain outside mainstream banking.

She was speaking in Harare on Friday night while officiating at the launch, where she described the product as a practical contribution towards Zimbabwe’s Vision 2030 agenda.

“Your decision to launch and introduce this product is a very strong statement of the confidence that you place in Zimbabwe’s economy and Vision 2030 in particular,” Muchinguri-Kashiri said.

Muchinguri-Kashiri also linked the initiative to national policy priorities under the National Development Strategy 2 (NDS2), which directs the financial sector to close gaps affecting unbanked Zimbabweans. She said TAP Microfinance’s approach was notable for being accessible, with loans starting from as little as US$50, and for targeting micro, small and medium enterprises (MSMEs), civil servants, private sector employees and uniformed forces.

“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 time, this special sector is excluded from mainstream financial products,” she said.

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Separately, Prevail Group officials also used the event to make a donation for the Defence Forces. According to reports from the launch, Prevail provided 30 tonnes of rice and 30 tonnes of cooking oil to be handed over through Muchinguri-Kashiri. Express Mail Zim reported that the donation was handed to the minister during the programme and said the group described it as recognition of the role of the uniformed forces in national stability.

Muchinguri-Kashiri said payroll-based lending could help improve welfare for workers, while also cautioning that financial products should not expose citizens to distress and debt traps as the country pursues Vision 2030.

Prevail Group chairperson Dr Paul Tungwarara said the microfinance concept was developed in line with President Emmerson Mnangagwa’s development approach. “When we came up with this idea, we were inspired by the President’s mantra of leaving no one and no place behind,” he said, adding that the facility was intended to support a wide range of people including small-scale farmers, vendors and civil servants.

At the same event, Express Mail Zim reported that the TAP Microfinance scheme will provide payroll-based loans and that it is targeting women-led businesses and rural-based entities among its priorities.

Dignitaries in attendance, according to the Sunday Mail report, included ICT Minister Tatenda Mavetera, Harare Metropolitan Minister Charles Tavengwa and Deputy Minister of Public Service, Labour and Social Welfare Mercy Dinha.

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