MARTIN MAWAYA
GWERU – More than 300 exhibitors showcased their products and services at the ZB Financial Holdings Midlands Micro, Small and Medium Enterprises (MSME) Expo held in Gweru over the weekend.
The expo, themed “Accelerating SMEs Growth through Financial Partnerships,” aimed to unlock the vast potential of the Midlands’ entrepreneurial spirit and drive the country’s economic transformation.
According to Cynthia Muzira, ZB Bank’s Executive Head of Marketing, the expo was designed to accelerate growth through financial partnerships, reflecting the bank’s vision of fostering collaborative growth in the MSME sector.
“The driving force behind this collaboration is the recognition that our economy is predominantly informal,” Muzira explained.
“By bringing the MSMEs together with the bank, we aim to ‘co-create solutions’ that address their specific needs and empower them to thrive,” she added.
The Midlands expo was the third in a series launched by ZB Bank, following successful events in Bulawayo and Harare.
The bank plans to hold another expo in Chiredzi, with the overarching goal of partnering with SMEs to alleviate poverty and drive economic development.
In a speech read on his behalf by provincial director of economic affairs and investment, Kosheni Mutisi, Provincial Affairs Minister, Owen Ncube, commended ZB Financial Holdings for its commitment to the MSME sector, noting that the expo reflects the bank’s dedication to empowering the backbone of Zimbabwe’s economy.
“This partnership is crucial in bridging the gap between MSMEs and financial institutions,” Ncube said. “It empowers these enterprises to access the tailored financial solutions they need to thrive in today’s fast-paced business environment.”
Ncube emphasized the significance of the MSME sector in driving innovation, job creation, and economic development, while acknowledging the challenges of limited access to funding for the sector.
The minister urged the participating MSMEs to embrace the financial partnerships, leverage technology, and stay adaptable in the face of ongoing changes.
He also highlighted the importance of formalizing business operations to facilitate growth, access formal credit channels, and reduce reliance on informal lenders.
The Midlands MSME Expo underscores the vital role that the sector plays in Zimbabwe’s economy.
According to recent surveys, MSMEs account for over 60% of the country’s economic activity, employing 4.8 million people on a full-time basis and contributing US$7.8 billion to the GDP.
