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*Two thirds of money loaned out to SME's is not returned: Auditor General* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?au A report by the Auditor General Mrs Mildred Chiri revealed that 67 percent of the money loaned out by the Small and Medium Enterprises Development Corporation (SMEDCO) has not been recovered. The money was loaned out between 2011 and 2016. The report also noted that officials at the ministry of SMEs were reluctant to account for the money. Part of the report reads: ---------- *HOT DEALS:* *itel A70 - (128GB, 3GB RAM) $89,* *itel A70 - (256GB, 4GB RAM) $99* *itel P40 (128GB, 4GB), (6000mAh) $99* *itel P40 (64GB, 4G), (6000mAh) $93* Cash on Delivery in Harare & Bulawayo. Tinotumira kwamuri inosvika. WhatsApp: 0️⃣7️⃣8️⃣3️⃣ 4️⃣5️⃣0️⃣ 7️⃣9️⃣3️⃣ ---------- > The Ministry (of Small and Medium Enterprises and Cooperative Development) disbursed $4,595,000 to Small and Medium Enterprises Development Corporation (SMEDCO) from 2009 to 2016, however, repayments amounting to $3,075,000 were still outstanding. > …There is, however, risk that the ministry may fail to recover both the capital and interest if follow ups are not done on time. Of concern is the absence of an effective follow up system on outstanding loan repayments More: New Zimbabwe _If you found this article useful_ *Please support Pindula by forwarding to friends and groups*
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