TENDAI BHEBE IN BULAWAYO
Sithembiso Nyoni, the minister responsible for the development of women’s affairs, small and medium-sized businesses, has urged government agencies, the private sector, and development organisations to assist the micro, small to medium enterprises (MSMEs) sector.
Speaking at a recent meeting for MSMEs in Bulawayo, Nyoni said the sector has grown to be a significant economic pillar.
“As the ministry and other stakeholders, we are determined to recognise the sector’s contribution to the nation’s gross domestic product, economic growth, poverty reduction and sustainable livelihoods, “Nyoni said.
Nyoni said the informal sector should share knowledge and skills with other entrepreneurs in different communities.
The recent MSMEs Survey revealed that there were about 3.4m businesses in the sector and provided full time employment to over 4.8m people.
She said the sector has managed to create employment opportunities in the country.
“Let me point out that of the more than 4m full time employees in the sector, women constituted the majority at 52.1%. This position dovetails with the government’s thrust of delivering broad based transformation, new wealth creation and expanding horizons of economic opportunities for all Zimbabweans in line with the mantra of President Mnangagwa of ‘leaving no one and no place behind, “she said.
She added: “To address the challenge of access to appropriate and affordable workspace for MSMEs, the ministry is working closely with local authorities, development partners and the private sector in workspace development and provision for MSMEs under various models.”
Under the National Financial Inclusion Strategy, the Ministry in collaboration with Reserve Bank of Zimbabwe has implemented a number of initiatives aimed at improving MSMEs financial inclusion.
This has seen a huge decrease in the financially excluded MSMEs from 43% in 2012 to 3 % in 2022.
Bulawayo Provincial Affairs and Devolution Minister Judith Ncube weighed in saying it was critical to assist MSMEs, as they have become the backbone of the economy.
