Devastating fire at Mbare Market

STAFF WRITER

In the wake of a devastating fire that swept through Mbare’s informal market last night, the Zimbabwe Chamber of SMEs (ZCSMEs) and the Indigenous Advisory Practitioners Association of Zimbabwe (IAPAZ) have extended their deepest sympathy to the Micro, Small, and Medium Enterprises (MSMEs) that lost their stock and livelihoods in the blaze.

The fire has left many small business owners struggling, their wares and goods completely destroyed.

“This tragic event is a wake-up call,” said Mr. Venencio Kurauone, Secretary General of the Zimbabwe Chamber of SMEs.

“While this fire is devastating, it highlights broader risks MSMEs face daily, including death, illness, theft, and natural disasters.

“As a Chamber, we are actively engaging stakeholders to fast-track our ongoing efforts to formalize MSMEs, focusing on creating safe, decent workspaces and building partnerships with large corporates in the insurance value chain.”

Mr. Kurauone emphasized the Chamber’s ongoing work to support MSMEs in mitigating such risks.

“We recently partnered with Generation Health  Medical Fund to offer affordable, tailored health insurance products to MSMEs.

“Today it’s a fire, but the challenges extend far beyond that, and we need stronger systems in place.”

The Chamber is calling on development partners, the Harare City Council, and large corporates to work together in helping affected MSMEs restock their goods and secure safe, reliable workspaces.

The Chamber, in collaboration with IAPAZ, is already pushing forward its formalization drive, aiming to formalize 5 million MSMEs by 2030.

“This incident reminds us why formalization is so crucial. A structured business environment, supported by insurance and disaster preparedness, is key to protecting the livelihoods of MSMEs,” Mr. Kurauone added.

Mr. Nyasha Gonese, President of IAPAZ and official advisory partner to the Chamber, shared his views on the incident.

“While we express our deep sympathies for the affected traders, this event underscores the need for swift action,” he said.

“IAPAZ is working with the Chamber to drive formalization, which includes building disaster resilience for MSMEs. Whether it’s fire, theft, or illness, MSMEs need protection systems to ensure business continuity.”

IAPAZ and the Chamber are hosting monthly SME networking breakfasts in partnership with Rural District Councils (RDCs), a platform aimed at fostering collaboration between RDCs, MSMEs, and large corporates.

“Through these efforts, we aim to strengthen the ties between various stakeholders, ensuring that MSMEs not only recover from crises like this fire but also develop sustainable business models,” Mr. Gonese added.

He further pointed out that the operationalization of the African Continental Free Trade Area (AfCFTA) presents even greater opportunities for MSMEs, but only if they are formalized and equipped with the right tools to navigate risks.

“The call for formalization is growing louder as AfCFTA becomes a reality. We must ensure that MSMEs are well-prepared, and that begins with formalizing their operations,” Mr. Gonese emphasized.

In the short term, both the Chamber and IAPAZ are urging stakeholders to come together for immediate relief efforts.

The provision of financial support for restocking, rebuilding market infrastructure, and securing temporary spaces for affected businesses is critical. The long-term strategy, however, is to create sustainable safety nets for MSMEs, including improved fire safety measures, business insurance schemes, and disaster preparedness.

“We need to address the immediate needs of these businesses while laying the foundation for future resilience,” said Mr. Kurauone.

“We call on large corporates, development partners, and the Harare City Council to join hands with us in securing a brighter future for MSMEs.”

The tragic fire serves as a poignant reminder that MSMEs, which form the backbone of Zimbabwe’s economy, are vulnerable to disasters. Immediate action to rebuild, along with long-term strategies for formalization and risk mitigation, are essential steps to safeguard their future.