Minister meets SMEs leaders

Business Reporter
FINANCE and Economic Development Minister Professor Mthuli Ncube yesterday met representatives of Small to Medium Enterprises (SMEs) in Harare as he continues his listening and consulting roadshows.

The meetings are focused on interacting with key stakeholders in the economy. Following the demise of industry in recent years, SMEs have become a strong engine in the Zimbabwe economy although most of them still operate outside the formal systems with little contribution to the fiscus in terms of taxation.

“Today, the minister met with 50 leaders of SMEs from across the country to consult directly and understand their challenges and work together in crafting solutions as the minister paves the way forward in rebuilding a new Zimbabwe and achieving the vision of a middle income Zimbabwe by 2030,” said the Ministry in an update.

It said the 50 members of SMEs were drawn from different sectors of the economy, including representatives from 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.

“SMEs raised some of the main issues they are facing operating in Zimbabwe and requested the intervention of the minister. Some of the key issues raised include difficult access to cheaper finance from banks and lack of resources to expand their enterprises,” said the Ministry.

Prof Ncube initiated the meetings recently when he first engaged with chief executive officers and captains of industry from the top 50 companies in the country.