{"id":35114,"date":"2021-02-18T23:42:42","date_gmt":"2021-02-18T21:42:42","guid":{"rendered":"https:\/\/www.africa-press.net\/zimbabwe\/?p=35114"},"modified":"2021-02-18T18:37:18","modified_gmt":"2021-02-18T16:37:18","slug":"civil-servants-to-contribute-towards-govt-loan-fund","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/civil-servants-to-contribute-towards-govt-loan-fund","title":{"rendered":"Civil Servants To Contribute Towards Govt Loan Fund"},"content":{"rendered":"

Africa-Press<\/a> – Zimbabwe<\/a>. <\/strong><\/span>By Robert Tapfumaneyi<\/b> – GOVERNMENT has introduced a 2.5% deduction from all members of the public service\u2019s wages with the funds set to be directed towards a loan fund referred to as Government Employee Mutual Savings (GEMS) Fund.<\/p>\n

This was announced Tuesday by the Public Service Commission.<\/p>\n

The $75 million GMES was launched last weeks with government saying the move is set to improve the financial welfare of underpaid civil servants who will be eligible for flexible personal loans for their needs.<\/p>\n

These include home improvements, property acquisition, livestock rearing, and school fees, among other benefits.<\/p>\n

A nominal lending rate of 10 percent per annum has been set, with lending thresholds set to range from 10 to 15% per annum.<\/p>\n

This would depend on the actual amount applied for and the desired repayment period.<\/p>\n

\u201cAll members of the Public Service regardless of their category are going to receive a 2.5% deduction on their salary during the month of February 2021 and subsequently every month as admission to membership,\u201d read the circular to government employees.<\/p>\n

\u201cAfter 3 months accrual of contribution, members desiring to access short term to medium term loans will apply through their Head Ministry.\u201d<\/p>\n

Short term lending rate is 10% per annum and medium term will range between 10 to 15% per annum.<\/p>\n

Civil servants who do not wish to join GEMS will be refunded.<\/p>\n

\u201cMembers who do not wish to join the scheme are free to advise the head of ministry in writing,\u201d read the circular.<\/p>\n

Ambassador Jonathan Wutawunashe, the PSC secretary said the revolving fund, was meant to cushion willing government employees.<\/p>\n

\u201cIn cognisance of the need to cushion its workers and in preparation for a rainy day which can come for any one of us at any unexpected time, government has set up the Government Employees Mutual Savings (GEMS) Fund,\u201d he said last week.<\/p>\n

\u201cThis resource-pooling scheme is aimed at creating a revolving fund which civil servants, who voluntarily choose to participate in it, can access at their time of need at concessionary rates far below the prevailing market rates and way better than loan shark rates.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Zimbabwe. By Robert Tapfumaneyi – GOVERNMENT has introduced a 2.5% deduction from all members of the public service\u2019s wages with the funds set to be directed towards a loan fund referred to as Government Employee Mutual Savings (GEMS) Fund. This was announced Tuesday by the Public Service Commission. The $75 million GMES was […]<\/p>\n","protected":false},"author":84,"featured_media":35113,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,35,12,15],"tags":[1493,2189,19],"class_list":["post-35114","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-homepage-english","category-policy","category-twitter","tag-africa-press","tag-africa-press-zimbabwe-2","tag-zimbabwe"],"yoast_head":"\nCivil Servants To Contribute Towards Govt Loan Fund - zimbabwe<\/title>\n<meta name=\"description\" content=\"By Robert Tapfumaneyi - GOVERNMENT has introduced a 2.5% deduction from all members of the public service\u2019s wages ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/civil-servants-to-contribute-towards-govt-loan-fund\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Civil Servants To Contribute Towards Govt Loan Fund\" \/>\n<meta property=\"og:description\" content=\"By Robert Tapfumaneyi - GOVERNMENT has introduced a 2.5% deduction from all members of the public service\u2019s wages ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/civil-servants-to-contribute-towards-govt-loan-fund\" \/>\n<meta property=\"og:site_name\" content=\"zimbabwe\" \/>\n<meta property=\"article:published_time\" content=\"2021-02-18T21:42:42+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2021\/02\/img-602e977dc1d33.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1320\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/civil-servants-to-contribute-towards-govt-loan-fund#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/civil-servants-to-contribute-towards-govt-loan-fund\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Civil Servants To Contribute Towards Govt Loan Fund\",\"datePublished\":\"2021-02-18T21:42:42+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/civil-servants-to-contribute-towards-govt-loan-fund\"},\"wordCount\":353,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/civil-servants-to-contribute-towards-govt-loan-fund#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2021\/02\/img-602e977dc1d33.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Zimbabwe\",\"Zimbabwe\"],\"articleSection\":[\"all news\",\"homepage-english\",\"policy\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/civil-servants-to-contribute-towards-govt-loan-fund#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/civil-servants-to-contribute-towards-govt-loan-fund\",\"url\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/civil-servants-to-contribute-towards-govt-loan-fund\",\"name\":\"Civil Servants To Contribute Towards Govt Loan Fund - zimbabwe\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/civil-servants-to-contribute-towards-govt-loan-fund#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/civil-servants-to-contribute-towards-govt-loan-fund#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2021\/02\/img-602e977dc1d33.jpg\",\"datePublished\":\"2021-02-18T21:42:42+00:00\",\"author\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"description\":\"By Robert Tapfumaneyi - GOVERNMENT has introduced a 2.5% deduction from all members of the public service\u2019s wages ...\",\"breadcrumb\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/civil-servants-to-contribute-towards-govt-loan-fund#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/civil-servants-to-contribute-towards-govt-loan-fund\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/civil-servants-to-contribute-towards-govt-loan-fund#primaryimage\",\"url\":\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2021\/02\/img-602e977dc1d33.jpg\",\"contentUrl\":\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2021\/02\/img-602e977dc1d33.jpg\",\"width\":1920,\"height\":1320,\"caption\":\"Civil Servants To Contribute Towards Govt Loan Fund\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/civil-servants-to-contribute-towards-govt-loan-fund#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.africa-press.net\/zimbabwe\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Civil Servants To Contribute Towards Govt Loan Fund\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/#website\",\"url\":\"https:\/\/www.africa-press.net\/zimbabwe\/\",\"name\":\"zimbabwe\",\"description\":\"\u0623\u062e\u0628\u0627\u0631 \u064a\u0648\u0645\u064a\u0629 \u0639\u0644\u0649 \u0645\u062f\u0627\u0631 \u0627\u0644\u0633\u0627\u0639\u0629\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.africa-press.net\/zimbabwe\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\",\"name\":\"cfeditoren\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Civil Servants To Contribute Towards Govt Loan Fund - zimbabwe","description":"By Robert Tapfumaneyi - GOVERNMENT has introduced a 2.5% deduction from all members of the public service\u2019s wages ...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/civil-servants-to-contribute-towards-govt-loan-fund","og_locale":"en_US","og_type":"article","og_title":"Civil Servants To Contribute Towards Govt Loan Fund","og_description":"By Robert Tapfumaneyi - GOVERNMENT has introduced a 2.5% deduction from all members of the public service\u2019s wages ...","og_url":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/civil-servants-to-contribute-towards-govt-loan-fund","og_site_name":"zimbabwe","article_published_time":"2021-02-18T21:42:42+00:00","og_image":[{"width":1920,"height":1320,"url":"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2021\/02\/img-602e977dc1d33.jpg","type":"image\/jpeg"}],"author":"cfeditoren","twitter_card":"summary_large_image","twitter_misc":{"Written by":"cfeditoren","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/civil-servants-to-contribute-towards-govt-loan-fund#article","isPartOf":{"@id":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/civil-servants-to-contribute-towards-govt-loan-fund"},"author":{"name":"cfeditoren","@id":"https:\/\/www.africa-press.net\/zimbabwe\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"headline":"Civil Servants To Contribute Towards Govt Loan Fund","datePublished":"2021-02-18T21:42:42+00:00","mainEntityOfPage":{"@id":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/civil-servants-to-contribute-towards-govt-loan-fund"},"wordCount":353,"commentCount":0,"image":{"@id":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/civil-servants-to-contribute-towards-govt-loan-fund#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2021\/02\/img-602e977dc1d33.jpg","keywords":["Africa Press","Africa Press-Zimbabwe","Zimbabwe"],"articleSection":["all news","homepage-english","policy","twitter"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.africa-press.net\/zimbabwe\/all-news\/civil-servants-to-contribute-towards-govt-loan-fund#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/civil-servants-to-contribute-towards-govt-loan-fund","url":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/civil-servants-to-contribute-towards-govt-loan-fund","name":"Civil Servants To Contribute Towards Govt Loan Fund - zimbabwe","isPartOf":{"@id":"https:\/\/www.africa-press.net\/zimbabwe\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/civil-servants-to-contribute-towards-govt-loan-fund#primaryimage"},"image":{"@id":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/civil-servants-to-contribute-towards-govt-loan-fund#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2021\/02\/img-602e977dc1d33.jpg","datePublished":"2021-02-18T21:42:42+00:00","author":{"@id":"https:\/\/www.africa-press.net\/zimbabwe\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"description":"By Robert Tapfumaneyi - GOVERNMENT has introduced a 2.5% deduction from all members of the public service\u2019s wages ...","breadcrumb":{"@id":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/civil-servants-to-contribute-towards-govt-loan-fund#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.africa-press.net\/zimbabwe\/all-news\/civil-servants-to-contribute-towards-govt-loan-fund"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/civil-servants-to-contribute-towards-govt-loan-fund#primaryimage","url":"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2021\/02\/img-602e977dc1d33.jpg","contentUrl":"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2021\/02\/img-602e977dc1d33.jpg","width":1920,"height":1320,"caption":"Civil Servants To Contribute Towards Govt Loan Fund"},{"@type":"BreadcrumbList","@id":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/civil-servants-to-contribute-towards-govt-loan-fund#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.africa-press.net\/zimbabwe\/"},{"@type":"ListItem","position":2,"name":"Civil Servants To Contribute Towards Govt Loan Fund"}]},{"@type":"WebSite","@id":"https:\/\/www.africa-press.net\/zimbabwe\/#website","url":"https:\/\/www.africa-press.net\/zimbabwe\/","name":"zimbabwe","description":"\u0623\u062e\u0628\u0627\u0631 \u064a\u0648\u0645\u064a\u0629 \u0639\u0644\u0649 \u0645\u062f\u0627\u0631 \u0627\u0644\u0633\u0627\u0639\u0629","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.africa-press.net\/zimbabwe\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.africa-press.net\/zimbabwe\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb","name":"cfeditoren"}]}},"_links":{"self":[{"href":"https:\/\/www.africa-press.net\/zimbabwe\/wp-json\/wp\/v2\/posts\/35114","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.africa-press.net\/zimbabwe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.africa-press.net\/zimbabwe\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/zimbabwe\/wp-json\/wp\/v2\/users\/84"}],"replies":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/zimbabwe\/wp-json\/wp\/v2\/comments?post=35114"}],"version-history":[{"count":0,"href":"https:\/\/www.africa-press.net\/zimbabwe\/wp-json\/wp\/v2\/posts\/35114\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/zimbabwe\/wp-json\/wp\/v2\/media\/35113"}],"wp:attachment":[{"href":"https:\/\/www.africa-press.net\/zimbabwe\/wp-json\/wp\/v2\/media?parent=35114"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.africa-press.net\/zimbabwe\/wp-json\/wp\/v2\/categories?post=35114"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.africa-press.net\/zimbabwe\/wp-json\/wp\/v2\/tags?post=35114"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}