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Zimbabwe civil servants begin registering for cheap Government loans

The deductions of 2,5 percent of gross salary are being done on a voluntary basis. Members will begin accessing short- to medium-term loans at a nominal rate of 10 percent per annum after contributing for three months. Public Service Commission Secretary Jonathan Wutawunashe said members will now register first as opposed to the initial option which advocated deductions first. “We have directed ministries to have their members fill in the forms and the SSB will then deduct the funds after the list has been compiled. Initially, we had proposed to have the money deducted and opt out later. data-full-width= >“However, we are now saying they should register by filling in forms, which we think will take time. So we have given members until the end of February and early March, with deductions set to begin in March.”

Govt housing scheme a rip-off: PTUZ - Zimbabwe Situation

Govt housing scheme a rip-off: PTUZ BY TATENDA CHITAGU THE Progressive Teachers’ Union in Zimbabwe (PTUZ) has described the government’s housing scheme launched last year as a rip-off equivalent to a money-lending scheme. The housing scheme is part of the Government Employees Mutual Savings (Gems) project mooted in February last year. Treasury has allegedly provided $75 million as seed capital for Gems, of which $13,7m has been allocated for teacher housing scheme projects. But PTUZ said the housing scheme was a scam meant to fleece civil servants of their hard-earned money. The Gems loans allegedly cover a broad spectrum such as home improvement, solar electrification, borehole installation, property acquisition, livestock rearing, among many other things.

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