Nyachi is on her first loan with Thrive Zimbabwe. Her loan group is among the first two groups in Chibvuti to take loans from Thrive. With her loan of 500 Zimbabwean dollars (Approximately $50 USD, depending on prevailing exchange rates), she bought 75 broiler chickens and 2 bags of poultry feed. With the rapidly escalating inflation in Zimbabwe, the price of chickens and feed had increased since the time she first applied for the loan, so she added 250 Zimdollars of her own money to make this purchase. In September 2018, she would sell a chicken for about 10-12 Zimdollars, and on a good day she could sell 20 chickens. Now Zimbabwe’s economy is volatile, and prices have been rising rapidly while salaries and incomes have not kept up. Now Nyachi sells a chicken for 30 ZimDollars, and sells about 8 chickens on a good day. I asked her why in these uncertain times she decided to take a microloan and keep growing her business. She said, “it’s what I do, I have to be kept in business.”
Microfinance Partner: Thrive Zimbabwe
Thrive’s mission is to provide training and credit to women excluded from the mainstream financial sector in a manner that is both socially responsible and financially sustainable. Thrive is not a charity – It is run for profit with all surpluses retained in the business for the benefit of its borrowers. Thrive has a pro-poor focus and limits the initial loan to $500. There is no lower limit. We do not provide salary based loans. Our borrowers run small business such as tuck-shops or chicken farms or work as cross-border traders or stallholders.