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Charity Ruzvidzo Business Reporter
CREATING synergies and developing vibrant marketing skills will take centre stage at this year’s annual small to medium enterprises’ international expo set for end of this month in Harare, a cabinet minister said yesterday.
Small to Medium Enterprises and Cooperative Development Minister Sithembiso Nyoni told Business Chronicle that more than 150 local and foreign SMEs have so far registered for the exhibition scheduled for October 22 to 25.
She said the growing SMEs sector was contributing above 60 percent of employment in the country hence the platform would be used to reinforce the sector’s growth, taping from experiences of other countries’ successes.
“We’re hopeful that this year’s edition will be bigger and better. This is an opportunity for SMEs to link and create business connections with other SMEs. SMEs are contributing 60 percent to employment in the country,” said Nyoni.
“SMEs from all over the country are going to participate at the Expo. We also have SMEs from Zambia, Kenya, South Africa, Mozambique and Malawi who will showcase their wares at the Expo. The main objective is to lift the market for our own SMEs by exposing them to what other SMEs in other countries are doing.”
Minister Nyoni urged the business community to ride on the renewed interest in the country by foreign investors to showcase quality products and meet potential business partners at the expo. “Not only will SMEs be showcasing their wares but we’re going to host seminars. We want to create a platform whereby SMEs can interact, share and exchange ideas on different products.
“Formalising SMEs and helping them to be part of the main stream is still one of our major objectives. The process of ensuring that is achieved is going on very well,” she said.
The government has said it was taking formalisation of SMEs seriously after realising that the contribution by close to 3,8 million players in the informal sector was not accounted for and difficult to measure as the players were not registered.
Upgrading informal businesses into vibrant formal companies has also been part of the government’s agenda over the years.
Last year, the government announced plans to classify SMEs under Special Economic Zones based on the comparative advantage each region has in the economy.
This year in July, the Zimbabwe Stock Exchange indicated that it has plans to establish a revolving facility that will be used by small to medium enterprises wishing to undertake a primary listing on the impending SMEs bourse.
Online Reporter