30,000 SMEs targeted for registration in Byo

Charity Ruzvidzo Business Reporter
THE registration of small to medium enterprises and co-operatives has begun in Bulawayo with 30,000 operators targeted for formalisation in the city, an official said yesterday.

The move is part of the government’s initiative to support small businesses and increase their contribution in the national economy. Bulawayo Chamber of Small to Medium Enterprises chairman Energy Majazi told Business Chronicle that five registration centres have been set up in the city following the directive by Small to Medium Enterprises (SMEs) and Co-operative Development Minister Sithembiso Nyoni last week.

Players in the sector have up to end of this month to comply.

Minister Nyoni said the registration process should be done in liaison with the city council and Zimbabwe Revenue Authority (Zimra) to ensure effective growth of the sector.

“We’ve set up registration centres for SMEs. At the centres we’re going to have Zimra officials and city council officials to inform SMEs in detail on the registration process,” said Majazi.

“The main centre is at St Georges building at the intersection of 10th avenue and Joshua Mqabuko Street. The centre is open to every SME in the city.”

Majazi said his association was working on engaging councillors to get the green light to set up more registration centres with the aim of having at least one centre in all the 29 wards.

“In the mean time we will be registering at Sekusile Hall on January 7, at Mupedzanhamo in Emganwini on January 9 and Presbyterian Church in the city centre on 5th avenue on January 14. On January 16 registration will take place at Cold Storage Centre old complex while on January 27 we will be at Beverly business centre at Hope Centre,” he said.

“For one to register they’ve to pay $2. A fee of $1 will be paid monthly. The $1 per month payment will be shared by Zimra and the city council.”

Majazi said the registration process was open to all players in the sector including airtime vendors.

“We want to create an organised business system so that when city council avails stands we know the number of traders who are in need of such stands. We’re targeting to register about 30,000 SMEs,” he said.

It is estimated that more than five million Zimbabwean are employed in the SMEs sector but most of them are not formalised.

Minister Nyoni has said the informal sector was contributing 67 percent of Bulawayo’s revenue.

The increase of informal activities in the country has resulted in a shortage of working space for SMEs.

The ministry has adopted a linkage programme between SMEs and companies to boost local trade and skills.