Online Reporter
President Mnangagwa is expected to officially open the inaugural National Micro, Small and Medium Enterprises (MSMEs) and Cooperatives Indaba at the Harare International Conference Centre today.
The two-day indaba, running under the theme “Towards Vision 2030: Building an Enabling Micro, Small and Medium Enterprises and Cooperatives Ecosystem,” brings together Government, financial institutions, the private sector, development partners, cooperatives and entrepreneurs.
Speaking during a media briefing in Harare recently, Women Affairs, Community, Small and Medium Enterprises Development Minister Senator Monica Mutsvangwa said the event marks a major milestone in efforts to unlock the full potential of SMEs and cooperatives.
“This landmark national event will be officially graced by His Excellency, the President of the Republic of Zimbabwe, Dr ED Mnangagwa, underscoring the strategic importance Government attaches to the SME and cooperative sectors as key drivers of economic growth and national development,” she said.
Minister Mutsvangwa said the indaba will facilitate dialogue on policy and regulatory reforms, strengthen collaboration among key stakeholders and promote business formalisation.
“It will also support the establishment of a more responsive ecosystem that provides MSMEs and cooperatives with improved access to finance, markets, technology, innovation and business development services,” she said.
She said MSMEs contribute at least 60 percent of Zimbabwe’s Gross Domestic Product and account for more than 70 percent of enterprises operating in the country, with women owning over 56 percent of the businesses.
Harmony Agere will be providing live updates.
Scenes at the venue
Inside the venue, the hall is almost full as delegates continue to trickle in, while the Zimbabwe
Republic Police Band keeps the audience entertained ahead of the official proceedings.
President Mnangagwa is expected soon.
Exhibitors showcase home-grown products
Micro, small and medium enterprises (MSMEs), alongside major corporations, are showcasing a wide range of innovative home-grown products and services at the National SMEs and Cooperatives
Indaba.
The exhibition features products ranging from metal fabrication, herbal products and processed foods to a variety of business and financial services, highlighting the sector’s growing contribution to Zimbabwe’s economy.
Event partners, including ZB, Innscor, UNDP, NMB Bank, SMEDCO, Schweppes, NSSA, POTRAZ and Zimplats, are also exhibiting their products and services.
Universities have mounted exhibitions showcasing locally developed innovations, with exhibitors expressing excitement ahead of President Mnangagwa’s address.
President Mnangagwa arrives for indaba
President Mnangagwa has arrived at the inaugural National Micro, Small and Medium Enterprises and Cooperatives Indaba, where he is expected to officially preside over the event.
The President was welcomed by senior Government officials and was flanked by the Minister of Women Affairs, Community, Small and Medium Enterprises Development, Senator Monica Mutsvangwa, and Vice President Dr Constantino Chiwenga.
Programme officially begins
President Mnangagwa has entered the venue marking the beginning of the official programme.
This follows a tour of exhibition stands in which he was accompanied by Vice President Chiwenga, Defence Minister Oppah Muchinguri and Minister Monica Mutsvangwa.
The President led the singing of the National Anthem upon entering the venue.
SMEs hail President for reviewing business licenses and fees
The Zimbabwe Chamber of SMEs Secretary General Mr Venancio Kurauone says the sector is grateful for President Mnangagwa’s decision to review licenses and fees, saying it has made business operations easier.
He said the sector is now contributing more towards the country’s Gross Domestic Product.
“We are not just a sector but the engine of the economy and a significant contributor to Vision 2030.
“And as such, we want to thank the President for reviewing licenses and fees. This has greatly made our operations easier.
“We are now moving from informality to a place where we are fully regularised and contributing to the fiscus.”
Zimbabwe Cooperative Federation president Mike Duru said the sector plays an important role in the country’s development.
“Cooperatives will stand shoulder to shoulder with Government to help the country realise Vision 2030 targets,” he said.
“We are critical pillars of human and sustainable development. We have a huge membership of over 10 000 companies and over 3 million people in the sector, showing the impact that we have on the economy.”
‘Zimbabwe can learn from India’s MSME model’
Zimbabwe can draw valuable lessons from India’s experience in developing its Micro, Small and Medium Enterprises (MSME) sector through skills training, access to funding, mentorship and technology adoption, an Indian Government official has said.
Speaking during the National Micro, Small and Medium Enterprises and Cooperatives Indaba, Joint Secretary in India’s Ministry of Micro, Small and Medium Enterprises, Ms Mercy Epao outlined key areas that have helped transform India’s MSME sector into a major pillar of the country’s economy.
She said Zimbabwean officials could benefit from specialised training programmes to strengthen institutional capacity and improve support for entrepreneurs.
“MSMEs are the backbone of the Indian economy,” she said, noting that many of India’s large corporations began as small and medium enterprises before expanding into major businesses.
Ms Epao said creating an enabling environment for small businesses allows them to grow into significant contributors to national development.
She also highlighted India’s policy of mandatory procurement of products and services from MSMEs, saying the approach has enabled small businesses to expand more rapidly by guaranteeing them access to markets.
She further encouraged the formalisation of traditional craftsmen, saying bringing them into the formal economy would increase their contribution to national development.
Stock Exchange for SMEs
Minister of Finance, Economic Development and Investment Promotion Professor Mthuli Ncube has said Government will next month launch the Zimbabwe Small Enterprises Stock Exchange to improve access to capital for the country’s small and medium enterprises.
Speaking at the indaba, Prof Ncube said the initiative forms part of Government’s broader efforts to support and grow the sector.
“Next month, we will be launching the Zimbabwe Small Enterprises Stock Exchange to help fund and raise capital for the SMEs sector,” he said.
Prof Ncube said Government has also introduced measures to create a conducive environment for small businesses.
“Measures such as reviewing licences, tax waivers and rebates are designed to protect and grow this sector,” he said.
He added that currency stability and the more than 8 percent economic growth recorded last year have also contributed to the growth of the SME sector.
Economic transformation incomplete without SMEs: Minister Mutsvangwa
The country’s ongoing economic transformation cannot be fully achieved without a strong and vibrant Small and Medium Enterprises (SMEs) sector, Minister of Women Affairs, Community, Small and Medium Enterprises Development Senator Monica Mutsvangwa has said.
Addressing delegates at the National Micro, Small and Medium Enterprises and Cooperatives Indaba in Harare today, Minister Mutsvangwa said the sector continues to create jobs, generate income and stimulate economic development across the country.
“The backbone of economic transformation cannot be complete without SMEs,” she said, adding that SMEs and cooperatives collectively account for more than 60 percent of the country’s Gross Domestic Product.
The minister said Government has strengthened institutional support for entrepreneurs by deploying dedicated business and cooperative development officers across the country.
Through these officers, entrepreneurs are getting assistance on e-commerce, mobile banking and other modern business practices.
Minister Mutsvangwa said Government has been able to reach millions of entrepreneurs with programmes that improve access to finance, markets, business skills, workspace, infrastructure and technology.
She said many enterprises have grown from micro businesses into sustainable companies through determination, Government support and strategic partnerships, thereby creating employment and contributing to national development.
President assures SMEs of continued support
President Mnangagwa has reaffirmed Government’s commitment to reducing the cost of doing business and eliminating compliance burdens for small and medium enterprises, saying regulatory reforms are critical to accelerating the formalisation and growth of the sector.
Officially opening the indaba, President Mnangagwa said formalisation remains a national priority, with Government implementing comprehensive reforms to create an enabling business environment.
“Government has embarked on a comprehensive regulatory reform programme aimed at easing the cost of doing business and slashing compliance burdens,” he said.
“In return, I urge our entrepreneurs to embrace formalisation and become active participants in building a stronger and more prosperous Zimbabwe.
“Ultimately, enterprises must graduate from micro to small, small to medium, and medium to large-scale enterprises.”
President Mnangagwa praised SMEs for driving entrepreneurship, innovation and industrialisation.
He challenged entrepreneurs to expand beyond domestic markets by producing niche products and exploiting opportunities under the African Continental Free Trade Area, while embracing technology-driven enterprises.
The President also assured SMEs of continued Government support through improved access to finance, digital transformation initiatives, infrastructure development and entrepreneurship training.
He went on to reaffirm Government’s commitment to creating an enabling ecosystem that promotes investment, enhances competitiveness and unlocks opportunities for all Zimbabweans.
