Harare – A Chinese owned microfinance institution operating in Zimbabwe which is called ZimLoan is operating in a shadowy way has been questioned by its workers and ordinary people in the southern African country.
The microfinance institution operates under the website www.zimloan.com and offers loans through mobile telephone money transfer applications, Ecocash and One money.
Ecocash is owned by the largest mobile telephone network Econet in Zimbabwe while OneMoney is run by Net One mobile telephone network.
On it’s website, ZimLoan advertises that a person can get a loan of up to US$100.
”Apply for US$30 repay US$36 in 14 days,” ZimLoan says on it’s website.
The microfinance institution says it is “fully registered” in Zimbabwe.
It goes on to say that a person does not require paperwork to get a loan within five minutes.
”No paper work. Apply 100% via mobile.
Receive money within 5 minutes,” ZimLoan says on it’s website.
Despite having online presence, ZimLoan does not include it’s physical address on it’s website and to it’s customers.
Timely News however was told by a source that the microfinance is based in Mt Pleasant suburb.
”We work overtime here at ZimLoan but we are not being paid our allowances,” one worker who works at ZimLoan said.
”Our employers who are Chinese deduct National Social Security Authority (NSSA) but we have heard that the money does not go to NSSA and we don’t know why?.”
Another ZimLoan employee said they are not being given contracts of employment.
”We are being abused here at ZimLoan. The management refuse to give our contract of employment, we just work,” said the worker who requested anonymity.
They have been unsubstantiated reports that ZimLoan licence expired and Timely News is making efforts to contact authorities to establish the truth.
In February, ZimLoan workers staged a strike against the company’s management after salaries were delayed to be paid.
The ZimLoan workers also complained about harsh working conditions at the company.
Chinese owned businesses in Zimbabwe have been accused of breaching regulations. In some cases the Chinese have been taken to court for assaulting or shooting black Zimbabweans at the work places.