THE Ministry of Small and Medium Enterprises and Cooperative Development has signed a Memorandum of Understanding with the National Small Industries Corporation (NSIC) of India for the establishment of an incubation centre worth $2 million.
By Tarisai Mandizha Business Reporter
The India–Zimbabwe incubation centre project is expected to be operational in the next four months.
Speaking at the signing ceremony in Harare yesterday, Small and Medium Enterprises and Co-operative Development minister Sithembiso Nyoni said the establishment of an India-Zimbabwe incubation centre would promote technology transfer in 27 technologies or projects and would enhance employment creation in Zimbabwe.
“India is bringing in $1 million and Zimbabwe will bring in close to $1 million as well. So far, we have bought the vocational site for $650 000 in Waterfalls and we are now going to renovate, drill boreholes and connect electricity,” Nyoni said. “We are proud to have the India-Zimbabwe Africa Incubation Centre in Zimbabwe, which is the first regional centre established by the Indian government in Southern Africa to provide institutional support for the incubation of SME.”
She said the centre would accelerate the development of new small enterprises, especially in the manufacturing sector, by facilitating access to appropriate technology and mentorship programmes.
Nyoni said the entrepreneurship business skills would also be enhanced through provision of hands-on training on working projects which are expected to facilitate the growth of investment, joint ventures and initiatives in the Southern Africa Development Community region, facilitate skills transfer, create new industries and contribute to economic empowerment of the people.
“We are grateful that the project will go a long way in contributing to the achievement of the ZimAsset goals. ZimAsset has set targets for the production of fruit juice, honey, and soya milk, among others,” Nyoni said.
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“It is pleasing to note that the equipment for the processing of these products will be housed under this project.”
She, however, said the other projects to be housed in the India–Zimbabwe Incubation Centre project would include wire nails, paper and staple pin manufacturing, tomato canning, solar light panel assembling, vegetable drying, plastic bottle manufacturing, honey processing, water filtration, bottle cap manufacturing and toilet roll manufacturing among many others.
Speaking at the same event, Indian ambassador to Zimbabwe Jeitedra Tripathi said India was investing $1 million in machinery for the India–Zimbabwe Incubation Centre project and would train 20 Zimbabwean SMEs who would become trainers at the centres.
“There are 16 centres to be established and so far eight have been established and are now already running and are making a profit,” Tripathi said.
Zimbabwe, Tripathi said, had many natural resources and many were wondering why it was not in the business of producing toilet paper and honey processing, among many others.
