Bank for SMEs on cards, says minister

loans and other services, a Cabinet Minister has said.
The Minister of Small and Medium Enterprises, Sithembiso Nyoni, was speaking at a graduation ceremony for National Federation Grassroots Women’s Club in Harare yesterday.

She said the loans would boost the women’s work in their clubs and urge them to work together.
“We want investors to come from within the country,” she said. “Don’t allow foreign investors to invest in local economy.”
Minister Nyoni said Government would soon allocate land for SMEs, particularly women clubs, which had been neglected for a long time.

“You have been liberated in mind, go and identify the types of projects you want to do and the ministry will help you by building sheds to sell your products,” Minister Nyoni said.
She urged project members to take clubs seriously and develop their communities. Minister Nyoni commended the members for their hard work and for practising teamwork.

“The country has been destroyed by negative talk, you should stand up and fight those who say negative things,” she said. “Everybody has a right to development.
“Don’t be violent, but rather be practical. Remember, as individuals you are weak, but as a group you are strong.

“Capitalism has failed even in Western countries. It’s time for us to work and create employment for others. Be owners of businesses and be shareholders.” Minister Nyoni said SMEs were not paying taxes because they were not recognised in the business sector.

“In discussion with Finance Minister, Mr Tendai Biti, we realised that SMEs must be taken seriously and be involved in marketing,” she said.
“SMEs hold 85 percent of the business economy and the process of involving them in marketing is at an advanced stage.

“The Glenview Complex for SMEs and Mupedzanhamo Market need specific infrastructures.
“My ministry will grade them according to their standards and the top 100 entrepreneurs will be moved first.”

Minister Nyoni said larger businesses were taking advantage of SMEs when they go to Glenview complex to buy quality furniture at lower prices and resale it in the CBD for high prices.