Edwin Moyo
Gweru-The city of progress on Saturday hosted the ZB Midlands MSMEs Expo under the theme “Accelerating SMEs Growth through Financial Partnerships.”
The event highlighted the crucial role of Micro, Small, and Medium Enterprises (MSMEs) in the region’s economic landscape.
Speaking at the event, the Minister of State for Midlands Provincial Affairs and Devolution, Owen Ncube revealed the vital contributions of MSMEs to economic development, job creation, and innovation.
Minister Ncube also acknowledged the challenges MSMEs face, particularly in accessing financial resources.
“Innovation and job creation are driven by MSMEs, yet many face barriers to accessing finance. Financial partnerships are essential in bridging these gaps and empowering MSMEs to thrive.
“The government has introduced various measures, including the construction of new workspaces and the introduction of the ZiG currency, to create a stable and predictable operating environment for MSMEs.
“Additional government support for MSMEs includes the establishment of several institutions and policy frameworks, such as the Ministry of Women Affairs, Community, Small and Medium Enterprise Development, SMEDCO, and the Women’s Micro Finance Bank. These initiatives align with the National Development Strategy 1 (NDS1), designed to promote sector growth.” He said
Meanwhile, Zimbabwe Chamber of SMEs chairperson, Bigboy Murenga has called upon financial institutions to avail financial packages tailor made for the informal sector.
“Small to Medium businesses access to financial capital remains a challenge as many do not meet the requirements for loan financing.
“Women constitute the biggest number of SMEs, hence if accessible packages are sorted for them, we can easily do business and pay our debts on time.
“We are saying accessing of loans should start even at grassroots levels, so that even those without collateral can access. No conditions should be attached to the loans, or allow them to use livestock as collateral in the worst case scenario so that they sustain their businesses,” Murenga said.
The Expo however showcased the potential of local MSMEs on innovation, quality, and competitiveness in national growth.
