Vusumuzi Dube
Judith Phiri , Business Reporter
PRESIDENT Mnangagwa has called on micro, small to medium enterprises (MSMEs) in Matabeleland to value-add resources in their provinces, a development that contributes meaningfully to the provincial economies leading to national economic development.
According to the MSME 2021 Survey, the sector is made up of 3.4 million businesses countrywide and provided full-time employment to over 4.8 million people. The 2022 Finscope SME Survey, highlighted that MSMEs contributed US$ 8,2 billion to national GDP.
In a speech read on his behalf by the Minister of Women Affairs, Community, Small and Medium Enterprises Development, Dr Sithembiso Nyoni at the MSMEs Recognition and Graduation Awards Ceremony in Bulawayo on Friday, the President said the Government recognises the important role played by MSMEs.
“I strongly believe that enterprise development is one of the most effective ways of delivering sustainable, broad-based economic development.
It is the best way of empowering people by providing them with the necessary environment to utilise the abundant local endowments and flourish.
Therefore, under the current decentralisation and devolution thrust enunciated in the National Development Strategy 1 (NDS1), SMEs are expected to play a vital role through creating employment opportunities, rural industrialisation and better usage of local resources thereby enabling them to contribute meaningfully to the provincial economies leading to nationwide economic development.
I would like to urge SMEs from the three provinces to value-add resource endowments in their provinces which include among others minerals, baobab, timber, leather, marula, macimbi and tourist sites among many others.”
President Mnangagwa said by adding value to commodities grown and processed locally, both rural and urban communities will benefit in numerous ways through job creation, improved livelihoods and new markets for agricultural commodities and manufactured products ultimately leading to more vibrant district and provincial economies.
He said it was pleasing to note that of the 4.8 million full time employees in the sector, women constituted the majority at 52.1 percent.
“This position dovetails with the Government’s thrust of delivering broad based transformation, new wealth creation and expanding horizons of economic opportunities for all Zimbabweans in line with my mantra of Leaving No One and No Place Behind.”
President Mnangagwa said it was encouraging to note that some SMEs have embraced Government’s call for import substitution as witnessed through increased availability of locally produced products such as confectioneries, detergents, beverages, school uniforms and corporate wear.
Among them being furniture, small-scale machines, implements and hardware among others on the shelves of wholesalers and supermarkets chain stores.
He emphasised that formalisation was critical for the growth of the MSMEs businesses as it creates opportunities for fostering linkages with their peer, business support service providers, big corporates and financial institutions.
Various MSMEs in different categories from Bulawayo, Matabeleland North and Matabeleland South were recognised and awarded for their achievements in various areas of their business operations.
Online Reporter