UPDATE

SMEs Minister Mutsvangwa highlights need to address high business costs to foster growth

Nqobile Bhebhe, [email protected]

MINISTER of Women Affairs, Community, Small and Medium Enterprises Development, Monica Mutsvangwa has underscored the need to address the cost of doing business saying the current rates are stifling growth in the sector.

Speaking at the ongoing inaugural summit themed “Building Sustainability Towards Enhanced Productivity and Competitiveness in Zimbabwe,” Minister Mutsvangwa noted that her Ministry is collaborating with stakeholders to reduce business costs.

She said this is part of a whole-government approach strategy.

The Minister pointed out to delegates that challenges such as the high cost of retooling and limited access to finance hinder SMEs, making it difficult for them to hire skilled labour.

This, in turn, affects the quality of their end products.

Minister Mutsvangwa was presenting on “Using Novel Financial Architecture to Mobilize Resources for Women and Youth in Business to Enhance Sustainable Industry Productivity and Competitiveness.”

She stressed the importance of innovation and competitiveness for SMEs, adding:

“The other issue which SMEs are finding in women-owned businesses to employ skilled and qualified labor for SMEs then becomes very expensive. That does not promote formalisation. So the cost of retooling is also a challenge to most SMEs.

“You find that a lot of them are using inappropriate technology and that obviously would affect their competitiveness.,” she said.

She added, “Our country has increasingly been shaped by the micro, small and medium enterprises which contribute approximately 60 percent to the GDP of this country.

“If you look at the number of SMEs, all that they require is to be supported so that they can eventually grow.

“This sector not only generates jobs but also drives investment. It fosters innovation, enhances exports and strengthens economic resilience.”

                                             UPDATE

 Minister Ndlovu urges industry to follow President Mnangagwa’s call to remove trade barriers”

Nqobile Bhebhe, [email protected]

Minister of Industry and Commerce, Nqobizitha Mangaliso Ndlovu, has urged industry players to heed President Mnangagwa’s call to remove all trade barriers.

Speaking at the inaugural National Competitiveness Commission Competitiveness Summit in Bulawayo on Wednesday, Minister Ndlovu emphasised the importance of competitiveness in driving Zimbabwe’s economic growth.

His remarks echoed President Mnangagwa’s address at the First Meeting of the 2025 Cabinet Year last week, where the President directed all ministries to ensure that businesses are not burdened by prohibitive regulations, excessive administrative fees and restrictive licensing requirements.

Instead, he stressed that fees, licenses, permits and regulations should serve as catalysts for economic development.
“President Mnangagwa gave a clear rallying call for us to follow—that is, removing all barriers that hinder trade facilitation,” said Minister Ndlovu.

He urged delegates to engage in meaningful discussions that would contribute to strong, actionable outcomes.

“The outcomes will assist in crafting sound policies to drive Zimbabwe’s growth,” he said.

“I look forward to robust discussions so that, as policymakers, we can emerge from this platform empowered and clear on what needs to be done. The President has given us instructions—we have no choice but to follow that.”

The summit ends on Thursday.

 

                                         UPDATE

“Competitiveness key to business viability and innovation” – NCC Chair

Nqobile Bhebhe, [email protected]

National Competitiveness Commission (NCC) board chair, , has emphasised that competitiveness is crucial for business viability, driving innovation, and ensuring the production of high-quality, affordable products.
She said this enables industries to compete effectively in both local and global markets.
Speaking at the inaugural Competitiveness Summit in Bulawayo, Mrs Chimuka said the commission organised the summit as a platform for in-depth discussions on addressing barriers that hinder Zimbabwe’s global competitiveness.

 

The summit, themed “Building Sustainability Towards Enhanced Productivity and Competitiveness in Zimbabwe,” aims to align industry strategies with national economic goals.
She said President Mnangagwa’s scheduled attendance tomorrow underscores the significance of competitiveness in the country’s economic development.
“Competitiveness is a key pillar in sustaining business viability, fostering innovation, and ensuring the production of quality, affordable products. This allows our industries to compete more effectively,” she said.
Mrs Chimuka said the summit’s objectives align with the Zimbabwe Industrial Reconstruction and Growth Plan and the National Development Strategy 1 (NDS1), both of which focus on enhancing productivity and competitiveness.
“As NDS1 concludes in December 2025, the outcomes of this summit will provide crucial input for shaping NDS-2,” she said.
The Ministry of Industry and Commerce recently unveiled the Zimbabwe Industrial Reconstruction and Growth Plan for the period 2024-2025.
This initiative aims to enhance the domestic economy by promoting the procurement of locally produced goods.
She added that the discussions will help refine government strategies for improving competitiveness, identify policy gaps that hinder industrial growth, and provide insights from a private-sector perspective.
“The summit will also serve as a benchmarking platform, allowing Zimbabwe to assess its performance against other countries and formulate recommendations for a more competitive business environment,” she said.

                                           UPDATE

NCC Summit to tackle Zimbabwe’s competitiveness and industrial growth

Nqobile Bhebhe, [email protected]

DELEGATES to the inaugural two-day National Competitiveness Commission (NCC) Competitiveness Summit are trickling in at the Zimbabwe International Exhibition Centre in Bulawayo.

The high-level summit is being held under the theme “Building Sustainability Towards Enhanced Productivity and Competitiveness in Zimbabwe.”

President Mnangagwa is expected to officially open the summit on Thursday.

Several captains of industry, top government officials, and representatives from academia are already at the venue.

National Competitiveness refers to a country’s ability to create a competitive and conducive business environment through the development and implementation of key policy improvements to achieve economic growth and development.

This supports business viability and innovation, the production of quality and affordable products, thereby allowing the country to compete effectively in the global market.

The ultimate objective is the creation of a supportive business environment that encourages innovation and investments, enhanced productivity, efficient markets, economic growth, and improved living standards for the population.

According to the programme, some of the key presentations today will be by the Minister of Finance, Economic Development, and Investment, Professor Mthuli Ncube, who is scheduled to present on “Fiscal Policy Measures to Promote Competitiveness and Ease of Doing Business in Zimbabwe,” while the Reserve Bank of Zimbabwe governor, Dr John Mushayavanhu, will tackle “Monetary Policy Measures in Enhancing Competitiveness in Zimbabwe.”

Captains of industry are also expected to share their perspectives on competitiveness.

Infrastructure development, a cornerstone of competitiveness, will be addressed by the Infrastructure Development Bank of Zimbabwe (IDBZ).

Its presentation, focusing on “Infrastructure Development and Competitiveness,” will be followed by a panel discussion involving both public and private sector players.

The summit will also examine the crucial link between labour productivity and competitiveness.

Established under Chapter 14:36, the NCC operates under the Ministry of Industry and Commerce, driving policy reforms to enhance Zimbabwe’s domestic, regional, and global competitiveness, aligning with Vision 2030.

The summit provides a platform for policymakers, industry leaders, and experts to shape a more competitive and business-friendly Zimbabwe.

The resolutions are expected to anchor competitiveness policy interventions by the Government towards transforming our economy to withstand global shocks.