Revolving Fund: A ray of Hope for Spencer Marufu
THE Hand in Hand Zimbabwe Revolving Fund has come as a ray of hope for 26-Year-Old-Spencer Marufu, a member of the Vimbanayi Self Help Group in Ward 10 Chirumanzu District. Since he received the fund in March 2019, the young business man has managed to impressively expand his buying and selling business.
The young business man joined Hand in Hand Zimbabwe in April 2018 after which he went through the business modular trainings and started his business.
Marufu who resales household groceries to his community members says before receiving the revolving fund, He could barely manage his business venture and it was bound to collapse.
“I could barely make any tangible profit from my monthly sales but to date I makes up to 600 per month.
“When I received the Revolving Fund I purchased green bar soap, cobra, termite poisons, maize, beans, finger millet, sugar and salt to my stock. I managed to sell all of these and I got more money to buy more stock,” Marufu said.
From the profit he made, the youthful businesssman managed to buy one cattle, seven chickens and a bicycle to assist with transportation of goods to his clients. He has also managed to buy a residential stand where he built a beautiful home.
“I benefited three fold from the money, my business has greatly expanded and through the many sells I made after received the fund I managed to repay the loan
Narrating his background, Spencer says his is a rags to riches trope as he grew up in a very poor family
“Growing up I never dreamt of ever escaping the poverty trap, but thanks to the Motivated and Entrepreneurial Youth Project, I now have an established business, I now have property that’s in my name and I am assured I will be able to take care of my children in future.
“I failed to attend school and I struggles to read and write but Hand in Hand Zimbabwe through MEY has encouraged me given me hope that despite all odds one can achieve their dreams.
Spencer is also proud of the fact that his Self Help Group Vimbanayi is one of the groups that piloted the Revolving Fund (RF) in Chirumanzu district after undergoing health, life motivation and entrepreneurial trainings.
Each group member applied for the fund and received $600 which has gone a long way in the expansion of their individual enterprises.
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