Nobleman Runyanga

The announcement of a $100 million rural revolving loan fund by the Econet Wireless Holdings founder, Strive Masiyiwa and his wife, Tsitsi last week, has rattled the opposition, its supporters and sympathisers, the Harare Post has established.

This came out of a snap survey which this publication carried out last week.

"My wife and I have decided to set up a special fund of $100 million over five years for Re-Imagine Rural in Zimbabwe. We have also challenged our friends in the philanthropy community to join us to expand it across Africa. The fund, which is our own personal money, will be disbursed as loans through Steward Bank,” said Strive Masiyiwa last week.

Despite the initiative being a personal one, some opposition supporters feel that it will strengthen ZANU PF’s hand in rural constituencies ahead of the 2023 harmonised elections to their party’s detriment.  

“We’re no longer sure what Masiyiwa’s intentions are. During the (former President, Robert) Mugabe era, we thought that he was one of us but it seems we were wrong. He has been supporting (President Emmerson) Mnangagwa since he came into office – donating millions towards cholera and so on. Achatidirira jecha uyu (he seems bent on spoiling our efforts),” said Samson Kafesu in Mabelreign.

Other sympathisers felt that the Masiyiwas’ initiative had the huge potential of upsetting the MDC Alliance leader, Nelson Chamisa’s political fortunes in the rural areas where he made some inroads during last year’s election period thanks to President Mnangagwa’s opening up of the democratic space.

“It’s also a statement (of fact) that if you (Chamisa) don’t play with Strive hauitonge (you won’t win) because he is going to the base of the revolutionary party (ZANU PF). For those in the know, keep an eye on Kanyemba. Development yatanga (has begun). Umm!” said one twitter user, who only identified himself as Wisdom, with a tinge of despair. 

Others felt that by targeting the areas, the Masiyiwas had excluded most unemployed urban youths. Urban youths are, however, covered by financial institutions such as the Empowerment Bank and the Zimbabwe Women’s Microfinance Bank among others.

Dai vangopawo mari kumaghetto youths because ndokunemajority yevanhu vasina mabasa, (The initiative should have covered the urban youths as well because most of them are unemployed),” said Fradreck Kawanzaruwa, a youth who operates a tyre mending service in Mufakose.

Those who either disagreed with the Masiyiwas or did not understand the initiative or were angered by it chose to make false accusations against them and their Econet Wireless operations and disparaged the fund.

 “(Strive) Masiyiwa has an uncanny habit of subterfuge. When he intended to shut down Kwese operations, he applauded (President) ED (Mnangagwa) and he was treated with kid gloves. Now he wants to escape scrutiny of his ties to the junta by a false philanthropy? We will not buy it. He wants to milk us for money....period,” rumbled one Ceaphasi Mutubuki on twitter. ‏ 

An anti-President Mnangagwa element, Kerina Mujati, who seemed not to have read and understood the loan fund’s terms and conditions, slated the Masiyiwas and accused them of being thieves.

“(There is) nothing to celebrate on a microfinance (scheme). They are targeting the poor as they will milk them .....loan shark. Pasi nemari iyi (Down with this fund) which will further impoverish our people. Vachasara vasina kana mombe vatorerwa (They will be dispossessed of their cattle through the fund).  (Strive) Masiwa is a thief,” said Mujati in a response to an announcement of the fund on the Facebook platform by an Econet Wireless official, Lovemore Nyatsine.

Some pro-opposition online news portals responded to the initiative by imposing a blackout on the news item.