Online Reporter
Zvamaida Murwira, Harare Bureau
SMALL to Medium Enterprises (SMEs) are a key driver of economic growth, broad-based empowerment, job and wealth creation, contributing significantly to the country’s Gross Domestic Product, President Mnangagwa has said.
Commissioning the Mbare Musika Traders Market Phase 1, a state-of-the-art facility that is set to benchmark the modern SMEs trading environment, President Mnangagwa said the importance of the Small and Medium Enterprises sector to the growth of the economy cannot be over-emphasised.
Completion of the first phase of the market paved the way for 1 628 traders to begin operations and comes as a timely relief for traders who lost their stalls and stock last year in a fire outbreak.
The President said the SMEs sector stands as one of the critical pillars of the economy, contributing significantly to the total Gross Domestic Product.
“My Government, thus, recognises that SMEs are a key driver of economic growth, job creation, wealth creation and broad-based empowerment,” he said.
President Mnangagwa said his just-ended visit to the 11th Session of the Africa Regional Forum on Sustainable Development in Uganda, as Chairman of SADC, discussed the importance of driving job creation and economic growth, mainly through young people and women.
“I, therefore, challenge the entrepreneurs of our country to scale up the establishment of small businesses and start-ups in line with emerging trends and digital technologies.
“As a Government, we are ready to support solutions and new products related to agriculture, financial and climate technologies among others that must propel the industrialisation of our country,” he said.
President Mnangagwa said the facilitation of more opportunities and windows of support such as low-interest financing, business development services, transfer of skills and technologies as well as market access for the sector, will be availed.
He directed all partners to the Mbare Musika Traders Market and future projects to ensure that levies and rentals are pegged at competitive and affordable levels.
Occupants and customers of the markets were also called upon to be responsible custodians of the modern facilities.
The President called for collaborative synergies between SMEs and relevant ministries, departments and agencies, saying such collaboration was important towards the formalisation of small businesses and start-ups.
“As we continue to diversify our economy, the formalisation of this sector must never be viewed as a direct threat to the survival and sustainability of your respective businesses.
“On its part, my Government will continue to improve the ease of doing business, through reducing barriers to entry, as well as streamlining business registration, licensing and compliance levies.
“Dialogue with the SMEs sector is an essential building block for enhanced business productivity. There should not be ‘a them and us’ mentality,” said President Mnangagwa.
He added that the Government and SMEs sector must act as one for the good of the country.
The Ministry of SMEs was challenged to deploy innovative initiatives that will see more SMEs becoming fully fledged business entities with footprints beyond Zimbabwe and the SADC region.
Government is determined to see the realisation of the “Urban Transformation Agenda” designed to primarily focus on addressing rapid urbanisation by prioritising safe, inclusive, resilient and sustainable cities and human settlements, in line with Sustainable Development Goal (SDG) Number 11.
President Mnangagwa said Phase 2 of the New Mbare Musika is designed to be a multi-storey complex with improved sanitation, fire safety features and organised trading spaces, thus resonating with Vision 2030 and the SDGs.
He applauded Masimba Construction and Mkambo Misika Hubs, who partnered the Government in the project, for their professionalism and work ethic, which have ensured the completion of Phase 1 of the Market.
Earlier on, President Mnangagwa commended Mbare residents for their consistent support of Zanu PF that saw the revolutionary party winning in that constituency in the 2023 harmonised elections.
“Be assured that the interests of the people of our great motherland, Zimbabwe, remain at the core of my Administration. Two weeks ago, I was pleased to receive, at State House, representatives of Vendors and Tuckshops Associations from across the country.
“That engagement, among many others I have had in the recent past, gave me general insights into matters that concern you and the broader Micro, Small and Medium Enterprises sector. “Government is seized with facilitating an environment where your businesses can thrive for an improved standard of living for all,” he said.
Defence Minister Oppah Muchinguri-Kashiri said the construction of the market resonated with President Mnangagwa’s national vision spelt out in the National Development Strategy 1 and Government’s ultimate goal of elevating Zimbabweans to a prosperous and empowered upper-middle-income society by 2030.
“This bustling market has been a cornerstone of Zimbabwe’s SMEs and a vital source of livelihood for traders and their families.
“This initiative has not only restored the market’s infrastructure but also upgraded it to a cutting-edge facility, demonstrating Government’s commitment to creating an enabling environment for businesses to thrive,” she said.
Local Government and Public Works Minister, Daniel Garwe, said the commissioning of the market was a precursor to the second phase of another market to accommodate more people.
“This event also marks the ground-breaking ceremony of the main market, which is going to accommodate 10 000 traders,” he said.
Minister Garwe said following the fire disaster that destroyed stock and stalls, President Mnangagwa directed the engagement of domestic investor, Masimba Holdings, in terms of the urban transformation policy to undertake reconstruction works.
“The infrastructure, as you have witnessed, Your Excellency, is augmented by social amenities such as banks, Zimbabwe Republic Police Post, advanced security services, CCTV, advanced ablution facilities, advanced fire suppression systems, and availability of water infrastructure, among others,” he said.
Women Affairs, Community, Small and Medium Enterprises Development Minister, Senator Monica Mutsvangwa, said the new market was set to transform the SMEs sector that has been looked down upon over the years.
Minister of State for Provincial Affairs and Devolution for Harare Metropolitan, Charles Tawengwa, commended President Mnangagwa for restoring the livelihood of traders following the fire outbreak.
Yesterday’s event was attended by Cabinet Ministers, permanent secretaries, Harare City councillors, captains of industry, Zanu PF leadership, and traders, among others.
