RBZ to give students loans


By Mashudu Netsianda

The Reserve Bank of Zimbabwe (RBZ) has announced that students in higher and tertiary learning institutions will in the next six months start getting educational loans to help parents and guardians who are struggling to pay fees.

Reserve Bank of Zimbabwe governor Jonathan Moyo
Reserve Bank of Zimbabwe governor John Mangudya

RBZ Governor Dr John Mangudya, in his 2017 Monetary Policy statement released on Wednesday, said students pursuing studies at the higher and tertiary institutions will benefit from the educational support facility.

He said the loans, to be distributed through banks, will help capacitate students from underprivileged families to pursue their studies.

“We’re resuscitating the educational support facility for students pursing studies at the higher education and tertiary institutions. The resuscitation of this facility which used to be granted through banks is necessary to ensure that educational institutions are sustainable and that students are capacitated to pursue their studies,” said Dr Mangudya.

The RBZ Governor said although modalities were still under discussion, the programme would start operating in August this year.

“The modalities of this (educational support) facility are still under discussion with the relevant stakeholders. The facility is expected to become operational in August 2017,” he said.

Higher and Tertiary Education, Science and Technology Development Minister Professor Jonathan Moyo told delegates at the Zanu-PF Annual National People’s Conference in Masvingo in December last year, that his ministry had already engaged the RBZ to structure the new student loan scheme.

Student grants were discontinued around 2006 due to cash flow challenges and replaced by a cadetship programme in 2010.

However, the latter did not yield desired results as it was also dogged by funding challenges and failed to pay fees for hundreds of students, leading to failure by some to sit for examinations.

The grant and loans scheme paid full fees for students and gave them allowances to cater for other expenses such as accommodation and food.

The cadetship scheme only paid three quarters of the fees.

Prof Moyo said the interventions were part of a raft of measures by the ministry to ensure universities were relevant to national policy challenges and met the training and research needs of society and industry.

He said after extensive consultations, his ministry had concluded that Zimbabwe’s quest for industrialisation and modernisation could not be achieved without a new human capital base driven by technological and engineering skills across the economy, in the public and private sectors. The Chronicle

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  • ko vanenge vasingashandi vabereki loan vaiwanasei vagodzorera nei

  • Zimbabwe!wake up mi country,yes!wear headn there……kip on pushng….

  • Vote buying gimmicks. This time trick yr fucken mother

  • Hehehe coz ma elections asvebera ka,,, its just a campaign strategy hapana iripo apa

    • We are delivering on electoral promises

    • Why deliver now cloz to 2018 ? By “we” I suppose u are ZANU PF,,,,, what’s your reason to be in that party anywhere?

    • Ndechenhamo ichi

  • ways of campaigning beware

  • Haihwawo , makumbo enyoka!
    Just the beginning of quasi-fiscal activities-the second coming of Gideon Gono

  • Get away apo nxaaa

  • Election propaganda bullshit….getting people excited with your pathetic lies. You cant fix roads pay salaries etc you talk of loans?

  • Yooooooooh saphela.all lies its a plan to bail out and feed their pockets. Tapera ne mbavha idzi vanhu weeee .these muggers creates passages of stealing everyday.here we suffer aga

  • Bond rakuita

  • Chikiti

    F*ck this Zanu pf tricks to get votes, there’s no money

  • bewere

  • $200 million backed facility from Afremex

  • Ibvaipo ma elections akusvika makuuya nema tricks.mabasa acho anomawana kupi ekuzodzosera mari iyoyo

  • succuba

    Why not now instead of waiting six months?

    This will never happen, its just election speak…

  • Sehlanyiswa ngama bond note akhe. Same as Gono. Always making headlines for no reason, no result.

  • Anything is possible when we print our own money. Printing manager needs to be always on speed-dial

  • the regime has started making promises it will never meet!

  • Mabasa nemishonga muzvipatara mobvisa chiruzevha chapinda murokesheni chekukwatanuka tara nezvibhorani vakapedza kudzidza kusina mabasa woita sei wakawandisa vakadzidza vakagarira mapepa nekushaya mabasa zvimwe zvoda kufungawo

  • Good idea. Just make sure you dont get Moyo, Kasukuwere, Chombo and Chipanga near that money. They will recruit green bombers!

  • Is it part of campaigning for the upcoming elections ?

  • We are going towards elections..This is what happens.You are failing to pay civil servants & now you have cheap money to throw away.Tipeiwo maserious.

  • Totenda dzamwa dzaswera nebenzi

  • With the government failed to bonuses for civil servants and now opting for residential stands. Where the treasury got the money , if they have got then let civil servants smile first then we know Mangundya is serious.

  • And u say zim no money ukuhleleki so shame

  • Sean D

    whether its a campaign strategy or not, mukana wavhurwa uyu …wake up people, am definitely going to apply come Aug

  • I don’t see how feasible that will be.Mngudya you are now talking rhetoric like a philosopher gone astray.A lot of programmes have been shelved due to the cash crunch and was just wondering where all of a sudden you have gotten the money from.Maybe the funds came via cyclone denio

  • NOT for us all

  • totenda dzanwa mombe dzaswera namangudya

  • Kkkk

  • I like that that good way to go as before

  • Might be sensible if it’s fulfilled

  • Kkkkk maelections anopinza tsoko idzi busy

  • 2018 Election here we come .good idea

  • ZBC TV News @ 2000hr “This Cyclone Dineo is a Western sponsored project to sabotage the country’s people oriented “Contract Command Agriculture” and our efforts to revive the economy through the use of Bond Notes.We are very much aware that there is a third force behind Dineo and this a regime change agenda. As the ruling party led by the visionary leadership of Cde Robert Mugabe we will not allow western sponsored parties to take down the drain our hard fought Independence.The Western sponsored political parties are targeting us , whilst the nation is celebrating Cde Robert Gabriel Mugabe’s birthday. Our revolutionary people’s army is well prepared for such and are on high alert to defend our hard won independence. Cyclone Dineo will be defeated as we did against Ian Smith’s Rhodesian colonial oppressive army.! Its 3 days before the nation celebrate the 21 February Movement Cde President H.E.Robert Gabriel Mugabe, the First Secretary and President of ZanuPF and the Commander in Chief of all the Defense Forces ‘s birthday. Here is the news read by Musorowegomo Mukosi: The First Secretary and President of ZanuPF, The President of The Republic of Zimbabwe and Commander in Chief of the Defences Forces has said Zimbabwe will never be a colony again. Cde Robert Mugabe was addressing children of the Warvets in Harare today. ……………”

  • Where is the money going to come from when poverty level of people has reached alarming levels, Create jobs for parents to work for their families. That was a huge contribution to economy downfall by offering funds which will come to nothing e.g empowerment packages and where are those funded businesses?

  • Kkkk we know all the plans of zanu pf people, coz we towards elections time more promises kkkk fake promises, after elections everything is finished

  • It is not about struggling parents, it is their right to be funded and pay back when they are working. Government has failed to carry out its obligation WELFARE OF STUDENTS.

  • This is a joke for sure

  • Campaign

  • Hermish Dunga

    the funny part of is that yu will be surprised to hear a minister is benefiting ,and start to wonder kuti ari underpriviledged here

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