Online Reporter
Judith Phiri [email protected]
FINANCIAL institution, FBC Bank Limited has reaffirmed its commitment to supporting the growth and success of small and medium enterprises (SMEs), who are the backbone of Zimbabwe’s economy.
With approximately 3,4 million entities, SMEs contribute over 60 percent of the country’s gross domestic product (GDP) and employing roughly 4,8 million people full-time.
Speaking at the World SME Day: Commemoration Seminar in Bulawayo on Tuesday, FBC Bank Managing Director, Mr Mubaiwa Mubayiwa said entrepreneurs, innovators and business leaders, were indispensable partners in driving inclusive economic growth, job creation and national development.
“Today, we celebrate your contribution and reaffirm our commitment to supporting the growth and success of SMEs. As FBC Bank, we recognise that a vibrant SME sector is fundamental to driving inclusive socio-economic growth,” he said.
“We have long understood the significance of supporting this critical segment of the economy, which is why we have established a dedicated Business Banking Unit focused on addressing the unique needs of SMEs.”
He said through tailored financial solutions, advisory support and strategic partnerships, they remain committed to empowering entrepreneurs at every stage of their business journey.
Mr Mubayiwa said the gathering reaffirms that commitment and reflects their shared ambition to help Zimbabwean SMEs build resilient, competitive and future-ready enterprises.
He added: “We meet at a time when the global economy is undergoing profound transformation. Technological advancements, changing consumer behaviour, evolving regulatory environments and increasing market interconnectedness are reshaping the way businesses operate. The Fourth Industrial Revolution is no longer a future concept; it is now our present reality.”
Mr Mubayiwa said businesses across the world are embracing digital technologies, data analytics, automation and artificial intelligence (AI) to improve efficiency, enhance customer experience, optimise decision-making and unlock new growth opportunities.
He said AI presents a unique opportunity to leapfrog traditional barriers to growth and improve productivity without requiring significant capital investment.
“For SMEs, these developments represent significant opportunities. The businesses that will thrive in the coming decade will be those that embrace innovation, leverage technology and remain agile in responding to an ever-changing marketplace.
“The SME sector remains one of the most important pillars of Zimbabwe’s economy. The sector is estimated to encompass over 3.4 million enterprises and contributes approximately US$8.6 billion to Zimbabwe’s GDP,” he said.
“SMEs are also the lifeblood of our economy; creating employment, driving innovation, supporting livelihoods and sustaining communities across the country. As FBC Bank, we have a special appreciation of the entrepreneurial journey because our own story reflects the power of enterprise, perseverance and vision.”
Mr Mubayiwa said their institution was established in 1997 as First Banking Corporation with two branches in Harare and Zvishavane.
While, over the years, the FBC brand has evolved into one of Zimbabwe’s leading integrated financial services groups, comprising eight strategic business units.
“Our transformation from a modest banking institution into a diversified financial services powerhouse demonstrates what can be achieved through innovation, customer focus, prudent investment and an unwavering commitment to growth.
“This journey mirrors the aspirations of many SMEs represented here today. It is a reminder that every large enterprise was once a small business. As FBC Bank, our purpose extends beyond providing financial services,” he said.
He said they were committed to empowering SMEs to evolve from small enterprises into sustainable and high-growth businesses that create jobs, drive innovation and contribute meaningfully to national development.
Mr Mubayiwa said their ambition was to support the journey from start-up to scale-up, from informal enterprise to formal business and ultimately from local success stories to companies capable of listing on the Zimbabwe Stock Exchange (ZSE) and competing on regional and global platforms.
The event hosted by FBC Bank ran under the theme: “Future- Ready SMEs: Unlocking Growth Through AI and Inclusive Digital Finance.”
