DIMAF

DIMAF

Distressed Industries and Marginalised Fund (DIMAF) was set up as an acknowledgement of the difficulties that businesses are presently facing accessing capital for operation and expansion programmes owing limited availability of many on the domestic market. The US$ 40million fund was launched in October 2011 with the objective of resuscitating ailing companies from Bulawayo and other areas.

Bulawayo was known as the country’s hub of industry and at one point was responsible for 75% of the country’s manufacturing activities however; sixty companies in Bulawayo are in the verge of collapse and urgently require $73 million capital according to a report   by the Ministry of Industry and Commerce. Government continuesto struggle to avail funds to revive industry in Bulawayo.

Last week state media reported that only US$13million had been disbursed to companies across the country from the US$40million Distressed Industry and Marginalised Fund.

In Bulawayo,13 companies are reported to have received funds amounting to US$6.5million from DIMAF while 5 more are yet to receive US$2.9million