Barmlo Group partners MFIs
RYAN CHIGOCHE
Construction company, Barmlo Group, says it has partnered with various microfinance institutions to help citizens in both rural and urban areas borrow money to build their dream homes.
Barmlo founder Banabasi Marambire (pictured) told Business Times he is confident that the sector will contribute immensely to the projected growth as more employment opportunities are going to be created in the sector.
“We are expanding and venturing into partnerships with microfinance companies so that we may help those who qualify to borrow money towards the construction of their homes,” Marambire said.
He believes the construction sector will contribute immensely to the projected gross domestic product growth of 7.8% as more employment opportunities are going to be created in the sector.
“The construction sector in Zimbabwe is in demand. When an economy is growing there is growth in infrastructure. I believe the construction industry will contribute significantly to the growth of the Zimbabwean economy as it will create employment for a lot of people,” Marambire said.
He hopes Barmlo will soon have opportunities to be granted to large-scale constructions projects.
Currently, the company is only engaged in construction services for residential houses and commercial properties.
In Zimbabwe, the construction industry has the potential to earn foreign currency for the country through exporting its services and promoting the growth of other downstream industries.
Barmlo Investment is a private company that specialises in supplying building materials, timber, steel, and brick moulding.
They started operating in 2011 with two branches in Mberengwa district, Midlands Province.
To date, it has over 500 employees and the company has since expanded regionally into Botswana and Zambia.
Apart from being recognised in different platforms in Africa through its participation in the Jack Ma Foundation and the Africa Netprenuer Initiative Price, in 2016 the company won the first prize in the Global Shapers Initiative under the construction category
