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Precious Masakara and Kimberley Kazungu
GOVERNMENT has helped in addressing challenges being faced by Small and Medium Enterprises (SMEs) to guarantee that the sector takes an important role in the development of the country, a senior Government official has said.
The remarks were made by the Minister of Defence and War Veterans Affairs, Hon Oppah Muchinguri-Kashiri, while officiating at the 9th SME International Expo which kicked off in Harare on Wednesday.
The expo has become a premier platform where SMEs showcase their products and services to the markets as well as offering an opportunity to network.
“While it is encouraging to note that the sector is growing, SMEs are, however, still faced with a number of challenges which affect their capacity to meaningfully contribute to the economic development of the country. Some of the challenges include appropriate policies and regulations, access to capital, technical skills and business management training, appropriate technologies, workspace, products, standardisation and access to the markets among many others,” said Cde Muchinguri-Kashiri.
She added: “Cognisant of the constraints of the sector is facing, Government guided by the Transitional Stabilisation Program (TSP), is implementing various programmes to address the challenges to ensure that the sector takes a leading role in the development of the country”.
Cde Muchinguri-Kashiri said the Reserve Bank of Zimbabwe, as a part of implementing the Financial Inclusion Strategy, unveiled funding facilities to support SME development which include the Cross-border Facility, Women Empowerment Fund, Gold Support Facility, Horticulture Facility and Business Linkages Facility.
‘This expo being hosted here, therefore, complements Government efforts to support the SMEs by bringing together industrialists, traders and potential investors from within Zimbabwe, across Africa and the rest of the world for business networking and exploration of trade and trade investment opportunities.”
Online Reporter