‘Lots of opportunity for women, SMEs under AfCFTA’

Business Reporter
WOMEN and youth-led businesses should utilise funding sources availed by the Government and tap into trade opportunities being offered under the Africa Continental Free Trade Area (AfCFTA) to grow their earnings and contribute to transforming the country’s economy, a Cabinet minister has said.

Zimbabwe has embraced the AfCFTA deal, which came into force last year in January and presents preferential trade provisions for 55 member countries, which is set to promote inclusive and sustainable development of the entire continent.

In her remarks during the “Zimbabwe Women Do Dubai Business Conference” hosted yesterday on the sidelines of on-going Expo 2020 Dubai in the United Arab Emirates (UAE), Women Affairs, Community, Small and Medium Enterprises Development Minister, Dr Sithembiso Nyoni said women empowerment was at the heart of transformative efforts towards realising an upper middle-income economy status by 2030.

“The Government of Zimbabwe under my ministry offers a lot of opportunities for women and SMEs, which this group can take advantage of.

In terms of funding, there are four funding avenues – the Zimbabwe Community Development Fund, the Women’s Development Fund, SMEDCO and the Women’s Microfinance Bank,” she said.

“My ministry’s mandate is to empower women, communities, SMEs and cooperatives in a holistic and inclusive way in order for His Excellency, Dr E.D Mnangagwa’s vision 2030 to be realized. We can’t do it alone, we need each other.

“Government also facilitates various business groups and individuals to participate in Africa Continental Tree Trade Area through our capacity building and linkage programs.”

The minister implored budding businesses including women and youth to exploit the 25 percent Government tender allocation that is provided for under the SMEs Act.

Dr Nyoni also encouraged women to inspire each other by leaving remarkable footprint in their business journey.

She, however, stressed the need to do more towards provision of decent SMEs workspace and urged private sector players to come on board for partnerships.

The conference was organised by the Red Lipstick Revolution under theme: “It can be done” and sought to build bridges, connect communities by business sector, ignite ideas by encouraging creativity and innovation as well as build business through training mentorship and networking.