MSMEs fight global shocks brought by Covid-19

Paidamoyo Bore

WOMEN’S Affairs Community and Small and Medium Enterprises Development Permanent Secretary, Moses Mhike, reckons micro-small and medium enterprises (MSMEs) require huge support to fight global shocks brought by Covid-19.

In a speech, read on his behalf, during the launch of a two-project workshop in the capital, Mhike acknowledged that Covid-19 had a negative impact on small-to-medium enterprises.

He, however, said the Government, with support of other institutions, had come up with measures to help small-to-medium enterprises recover from the massive shock.

The projects, which are aimed at enhancing and strengthening resilience among MSMEs in Africa and Asia, will also act as a measure to help SMEs to lift themselves from the challenges they have been facing.

“The two projects have come at an opportune time as they are aimed at enhancing national capacities to strengthen the resilience of MSMEs as well as strengthening the enterprises themselves, to respond to the shocks,” Mhike said.

He said several interventions have been brought forward to capacitate institutions which support MSME development.

The projects, which have been supported by the Division for Sustainable Development Goals, under United Nations Department of Economic And Social Affairs (UNDESA), will go a long way to support the development and growth of small-to-medium enterprises.

During the launch, Amson Sibanda, the Chief at UNDESA, said the projects will complement each other and jointly contribute in building capacities of MSMEs and policymakers in Zimbabwe.

He said this was needed to strengthen MSME resilience and ensure that MSMEs in Zimbabwe not only survive, from the shock of the pandemic, but thrive by better positioning themselves to capture high-value market opportunities.

“More importantly, these two projects will be implemented under the ‘Prosperity’ pillar of the Zimbabwe UN Sustainable Development Cooperation Framework (2022-2026),” Sibanda said.

He acknowledged that small enterprises play a critical role in economic growth and structural transformation in Africa, including Zimbabwe.

“To get back on track, and recover from the social dislocations and economic contraction caused by the Covid-19 pandemic, it is imperative that countries focus on rebuilding by pursuing policy choices that enhance sustained, inclusive and equitable growth,” Sibanda said.