Finance minister meets SMEs

Business Reporter
FINANCE and Economic Development Minister Professor Mthuli Ncube yesterday continued with his “consulting and listening roadshows” and met 50 leaders of small and medium enterprises (SMEs) from across the country.

Prof Ncube believes SMEs are a strong engine in the country’s economy, hence his decision to consult them directly and understand their challenges, and work together to craft solutions so as to rebuild the country and achieve the vision 2030 middle income economy status by 2030.

Some of the groups that met Prof Ncube include the Zimbabwe Chamber of Small and Medium Enterprises, Zimbabwe Cross Border Trade Association, SME Association Zimbabwe, Employers’ Council of Zimbabwe, Zimbabwe Informal Traders Association, Zimbabwe Miners Federation, Zimbabwe Women Association, Zimbabwe Women in Construction Industry, Zimbabwe Chamber of Informal Economy Associations and Zimbabwe Vendors Association.

The SMEs raised concern over their operating conditions, particularly the lack of affordable finance from local financial institutions.

SME representatives also asked the Finance Minister to explore avenues of availing other resources so that they expand their operations, and possibly play a part in the drive to increase exports which the Reserve Bank of Zimbabwe is pushing.

The RBZ says there is need to ramp up exports so as to generate more foreign currency to meet the growing demand by the manufacturing, mining, agriculture and other sectors of the economy.

Professor Ncube started his ‘consulting and listening roadshows, by meeting chief executive officers of companies and captains of industry from the country’s top 50 firms companies.