adminGovernment has adopted a comprehensive micro, small and medium-sized enterprises strategy that will see all players in the sector being registered.
Details of the strategy are scheduled to be announced this week.
An official in the Ministry of SMEs and Co-operatives Development said authorities want informal traders to earn a living – but legally.
“The issue is still delicate as the ministry is working on official communication. The idea is to balance the traders’ welfare and regulations.
“The superiors will give that communication, revealing the strategy of formalising informal traders. I cannot provide further details as this should be done by our superiors.”
On Friday, SMEs Minister Sithembiso Nyoni said she was on annual vacation and would comment when she resumes duty tomorrow (Monday).
According to a 2012 FinScope Survey, 46 percent of Zimbabwe’s adult population owns SMEs, which cumulatively employ 5,7 million people.
The report shows that only 15 percent of these businesses are registered with nine percent operating on streets and pavements.
In May 2014, Cabinet approved the Second National MSME Policy Framework (2014-2018) to facilitate support for the sector.
The proposed support includes tax holidays for “business angels” that fund MSMEs, tax breaks and customs and tariff regime reviews.
Online Reporter