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MASHAYINKONJANE’S E350 LOAN FACILITY FOR ELDERLY

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MANDONSA – The continuous suffering of elderly people from Fairview who receive grants from government will partly come to an end.

This is because they will be able to access loans to keep them going if government delays releasing their grants or if they have a pressing need. Businessman Sifiso Nhlengetfwa of Mashayinkonjane Investments has introduced a short loan programme where the elderly can borrow money to a maximum of E350 while awaiting their grants from government. This was revealed by Nhlengetfwa, who is the company’s Managing Director, during an event where the enterprise was commemorating its achievement of winning the 2019 Entrepreneur of the Year Award (EYA).  The event was held at Global Village Guest House situated at Mandonsa on Saturday at around 6pm.

Speaking during the event, which was graced by Manzini South Member of Parliament, Macford Sibandze, Eswatini Water and Agriculture Development Enterprise (ESWADE) Chief Executive Officer Silwayiphi Sithole among others,  Nhlengetfwa said what propelled his company to embark on the programme of offering the short loan services to the elderly people was the  impediment they faced of having to wait for a lengthy period of time before receiving their grants from government. Some elderly receive their grant quarterly, except for those who get it through the banks as they receive it monthly. “We want to rectify the elderly people’s plight by offering them the short loans because we realised that the waiting period of receiving their grants from government was lengthy and unbearable for them,” he said.

Structured

Nhlengetfwa said the terms of the loan was structured in a way that they (elderly) people were bound to reimburse the company after receiving their grants from government. He also mentioned that the loans were interest-free and that the elderly people could access it at the company offices situated at Mandonsa. “All that is required from the senior citizens is their national identity card, which is necessary for creating an account for them where the money will be deposited once their loan has been approved,” he explained. He said in terms of payments, they could repay any amount of money to reduce their debt and then apply for another loan even before they could settle an outstanding debt.

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