MSMEs Trade Hub to be set up in Bulawayo

Vusumuzi Dube, Online News Editor

A TRADE hub to support Micro, Small, and Medium Enterprises is set to be established in Bulawayo, through the support of the United Nations Development Programme (UNDP).

The hub is expected to align with the strategic objectives of the African Continental Free Trade Area (AfCFTA).

According to a City of Bulawayo report the primary objective of the hub is to provide a facilitatory and enabling role in providing coordination, information/ knowledge, business advisory and support services to the local MSMEs, business enterprises and other local authorities in their regions on the key provisions, opportunities and engaging with the AfCFTA.

AfCFTA is an ambitious undertaking that brings together 1,3 billion people in 55 African countries to create the world’s largest free trade area as measured by the number of participating member States.

Its objective is the creation of an integrated market for the trade in goods and services and the free movement of people and capital.

“Specifically, the hub will see the establishment of an information desk on AfCFTA which would also have online platforms for citizen engagement, establishment of a consolidated database of registered MSMEs that were producing products with 40 percent of raw materials being sourced in Africa and also organising MSMEs and licensed sole traders into industrial clusters for opportunities for pooled procurement under AfCFTA.

“It will also assist by facilitating registration of new sole traders and MSMEs to enable them to benefit from the trading opportunity. The trade hub would be established as a focal point for surrounding urban and rural district councils to refer and register MSMEs and sole traders to build critical mass for aggregation of products for trade under AfCFTA and also equipping surrounding urban and rural district councils with a comprehensive understanding of the objectives, principles, and institutional framework of AfCFTA,” reads the report.

The hub is further expected to develop capacities of local sole traders, MSMEs and local authorities to engage with trade processes on the AfCFTA and the business incubation of start-ups or enterprises for increased production of commodities that would be aggregated earmarked for trade in the region and continent

“Once established the hub will identify opportunities to support and promote trade facilitation, investment, and industrial development in line with AfCFTA objectives, create a supportive environment for the establishment of ready to trade MSMEs to engage in the guided trade initiative and facilitate the participation of the MSMEs in the trade exhibitions, trade shows, knowledge exchange visits to promote visibility of the goods and services available in the country.

“While primarily targeting the southern region, the business hub will also significantly benefit the local authority through its provision of both hardware and software resources. This initiative represents a crucial step towards the digital transformation of the Micro, Small, and Medium Enterprises sector in Bulawayo,” reads the report.

As part of the initial stages of the project the local authority’s Tower Block MSMEs offices will be one of the designated resource centres for the trade hub and will be equipped with the necessary information technology infrastructure to support its operations.