Online Reporter
Anesu January
Herald Reporter
Small and Medium Enterprises (SMEs) now contribute more than 60 percent of Zimbabwe’s Gross Domestic Product (GDP), cementing their role as a key driver of the economy, Women Affairs, Community, Small and Medium Enterprises Development Minister, Senator Monica Mutsvangwa has said.
Addressing a half-day workshop for SMEs hosted by the Securities and Exchange Commission of Zimbabwe (SECZIM) in Harare, Senator Mutsvangwa said the sector had become central to economic growth.
“Small and Medium Enterprises bring so much money, more than 60 percent of the Gross Domestic Product of this country,” she said. “The Minister of Finance said that it is now about US$46 billion, and mostly it comes from SMEs.”
She said the Government, working with the Reserve Bank of Zimbabwe (RBZ), had rolled out a financial inclusion strategy to improve access to credit for small businesses, most of which operate without collateral.
“Strategies one and two are allowing SMEs, most of whom would not have collateral, to make sure that we give collateral-free loans to the sector,” she said.
“That is where financial inclusion comes in, supported by the credit registry, which has been brought up by the Reserve Bank of Zimbabwe.”
Senator Mutsvangwa added that livestock can now be used to access loans, a policy she has shared at regional, continental, and global platforms.
“All these efforts are to make sure that we increase access to finance for our SMEs. Access to finance is the lifeblood of all businesses. Without affordable and appropriate funding, no business will run smoothly,” she said.
She urged stakeholders to continue working together to strengthen the sector, which employs millions of Zimbabweans and remains a cornerstone of economic resilience.
