PREVAIL Group of Companies, which runs a diversified portfolio, has launched a new firm, Talk and Pay Microfinance Services.
Led by business tycoon, Paul Tungwarara, who is also President Emmerson Mnangagwa's investment advisor, the new kid on the block is expected to bring financial services solutions to rural folks, small to medium enterprises (SMEs) and civil servants, among other beneficiaries.
Speaking at the launch event held at the weekend in Harare, Tungwarara said Talk and Pay will empower Village Business Units (VBUs), which will have access to interest-free loans.
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"As CEO of Prevail Group of Companies, I am pleased to announce that we will be providing interest-free loans for all Village Business Units across Zimbabwe. This initiative is inspired by the noble vision of President E. D. Mnangagwa, who emphasised that every village should have business units.
"We launched Talk and Pay Microfinance Services, expanding the TAP super app into direct financial empowerment for Zimbabweans," said Tungwarara.
Also targeted are SMEs and civil servants, who will be offered collateral-based and salary-indexed loans, respectively.
"In addition, our package includes collateral-based loans for SMEs and salary-based loans for civil servants, including members of the uniformed forces."
Minister of Defence Oppah Muchinguri-Kashiri was guest of honour at the colourful launch event held at a Harare hotel. Among guests were Minister of State for Harare Metropolitan Provincial Affairs, Senator Charles Tavengwa, and Information Communications Technology (ICT) Minister Tatenda Mavetera.