CGAIZ pledges to support SMEs

CLOUDINE MATOLA IN VICTORIA FALLS

The Chartered Governance and Accountancy Institute in Zimbabwe (CGAIZ) says it would help small to medium enterprises (SMEs) by offering them advise on best management practices in an effort to promote business growth and bolster Zimbabwe’s economy, Business times can report.

Speaking at the institute’s annual conference in the resort city of Victoria Falls, CGAIZ president Judith Buzuzi said:“…..(CGAIZ)  will endeavour to promote the SME agenda that helps SMEs to have better management practices, structure the effective oversight and control mechanisms which will lead to opportunities for growth, financing and full contribution to economic growth.”

It comes at a time when SMEs in Zimbabwe lack the necessary best management practices, a situation which  is detrimental to the expansion of  SME sector in the country.

It is estimated that the SME sector accounts for 40% of Zimbabwe’s GDP.

Analysts assert that with best management practices, the SME sector could contribute more to the country’s GDP.