Rwandan firm courts local SMEs

Columbus Mabika Herald Reporter
Leading Rwandan investment company, Crystal Ventures, yesterday expressed interest in partnering small businesses in Zimbabwe to assist in the country’s economic turnaround.

This was said by the company’s chief operations officer Mr Elias Bangani during a tour of the Siyaso SMEs complex in Magaba, Harare.

“The SMEs that are here are basically the same as those in my country, we are here to see how best we can help to formalise the informal sector in this country,” he said.

Speaking during the tour, Women’s Affairs, Community, Small and Medium Enterprises Development Minister Sithembiso Nyoni said Government will follow the model taken by Rwanda to formalise its SMEs.

“Rwanda is a good example of a country that is using the informal sector to develop its economy,” she said.

“We are trying to find partners who will help us put up infrastructure for our SME so that they can move to the next level.”

Minister Nyoni revealed that plans were afoot to make Siyaso complex the business hub of Harare. “We are on course to make this area a modern business centre for the City of Harare,” she said.

“We are planning to put up proper structures that can accommodate all traders.”

Minister Nyoni said the country needed more players in the manufacturing sector than before to ensure that the few manufacturers doing business now do not take advantage of the market. “The demand for commodities has created more space and opportunities which SME’s need to take up,” she said.

“SMEs can be capacitated to contribute meaningfully to the production of various commodities which are in short supply.”

Harare Chamber of Small and Medium Enterprises chairman Mr Taurai Marembo welcomed the visit by Crystal Ventures delegation, saying SMEs have the capacity to contribute to the economy. “We are raring to go despite working with limited capital and inadequate equipment,” he said.

“We have the capacity to produce different commodities and goods.”

Crystal Ventures specialises in investing unexplored, high risk sectors that yield high returns, but also present opportunities to have a high socio-economic impact.

The company has in excess of 12 000 employees in various industry within Rwanda and other markets.