SME funding seminar on cards

provide an opportunity for small business owners to directly engage with the various players in the financial services sector.
“Financial institutions will also have their representatives highlighting the products that are available for SMEs therefore giving insight into the available opportunities for them to fund their businesses” he said.
He added that the seminar would also include a panel question-and-answer section to address delegates’ issues.
“It will give SME owners an opportunity to discuss funding requirements one-on-one with officials from banks, microfinance and other funding agents.”
Discussants at the seminar include Zimbabwe Association of Microfinance  Institutions (chairman and Utho Capital chief executive Mr Clive Msipha and Zimbabwe Stock Exchange listings executive Ms Lina Mushanguri.
Brainworks Capital Management chairman Mr Richard Muirimi, Nachamba Associates chief executive Mr George Nachamba and Takura Capital executive director Mr Tafadzwa Nyamayi are some of the speakers at the seminar.
Topics to be discussed include the microfinance industry’s contribution to SME growth, SME bourse, what benefits SMEs can expect, Pension funds: Funding options for the SME community, SMEs and the financial sector.
Bridging the gap, accessing venture capital and private equity funding, the banking sector’s role in SME growth, international development partners and from poverty alleviation to sustainable capacity building are some of the topics to be covered. SMEs have generally found it difficult to access financing from the large financial institutions due to lack of collateral. However, microfinance institutions have been playing their role somewhat effectively.
For example, earlier this month, AfrasiaKingdom Bank in partnership with the PTA Bank launched a US$48 million facility for            SMEs.
The money will be disbursed through AfrasiaKingdom’s micro-finance division, MicroKing. SMEs in the country have, however, not done enough in terms of repayment generally to boost possible financiers’ confidence in them.
Recently, the Small Enterprises Development Corporation announced that it would be carrying out an auction of several immovable properties that were used as collateral after borrowers defaulted on loan repayments.
Sedco is a public enterprise established to promote and support small enterprises in the country.