BULAWAYO, Jun 29 (NewsDay Live) -Government has reaffirmed its commitment to strengthening micro, small and medium enterprises (MSMEs), describing the sector as the backbone of the national economy.
The commitment was made during the provincial commemoration of International MSME Day held at the Small City Hall in Bulawayo recently.
The event, organised by the Ministry of Women Affairs, Community, Small and Medium Enterprises Development in partnership with the City of Bulawayo and other stakeholders, was held under the theme; “Empowering Bulawayo MSMEs for Innovation, Job Resilience and Sustainable Growth in Line with Vision 2030 and Global Trade.”
Speaking at the event, Women Affairs, Community, Small and Medium Enterprises Development secretary Mavis Sibanda said the theme for this year's comemmoration called for entrepreneurs to embrace innovation, create jobs and build resilient businesses capable of competing in regional and international markets.
“The theme tells us to innovate, create jobs and work hard regardless of how difficult the environment may be. Let us ensure our city flourishes and that our children have employment opportunities,” she said.
Sibanda said MSMEs remain the engine of Zimbabwe's economy, contributing more than 60% of the country's Gross Domestic Product (GDP) and accounting for over 70% of national employment.
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“We cannot talk about the country's progress without talking about SMEs. Today, Zimbabwe joins the rest of the world in celebrating the contribution of MSMEs to economic growth and sustainable development,” she said.
The commemorations brought together entrepreneurs, financial institutions, government departments and business support organisations, providing MSMEs with a platform to network, exhibit their products and access information on business development.
Among the participating organisations were the Standards Association of Zimbabwe, Zimbabwe Revenue Authority, Procurement Regulatory Authority of Zimbabwe, and National Social Security Authority.
Other stakeholders also made presentation on quality standards, taxation, public procurement opportunities, compliance requirements and business support services.
Mayor David Coltart, who was represented by the city’s health, housing and education committee chairman and ward 23 councillor Ntombizodwa Khumalo, said the city appreciated the growing partnership between government and the private sector in promoting the growth of MSMEs.
“I am pleased to see stakeholders in the MSME sector organising themselves and working with the City and Government as we plan to integrate MSMEs into the main levers of the economy,” he said.
Coltart said Bulawayo values the contribution of MSMEs to local economic development and was encouraged by the quality of products exhibited during the celebrations.
“I was impressed by some of the exhibitions displayed today. It is encouraging that players in the informal sector have scaled up their operations and are producing goods of high quality that can compete with established industries,” he said.
Bulawayo town clerk Christopher Dube said the local authority remained committed to working closely with central and provincial government in creating an enabling environment for small businesses.
“Although we are the City of Bulawayo, we are like a mini-government. We work with central government, provincial government and the ministry in all that we do,” he said.
Dube said the city had established lettable shops for entrepreneurs and was pursuing the decentralisation of business infrastructure and services to improve access for MSMEs across Bulawayo.
The event also featured exhibitions by local entrepreneurs, showcasing products ranging from clothing and furniture to processed foods and other value-added goods, demonstrating the growing capacity of Bulawayo's small businesses to contribute to industrialisation and economic transformation.
Stakeholders called on entrepreneurs to take advantage of support programmes offered by government and regulatory institutions to improve compliance, access new markets and position their enterprises for sustainable growth in Zimbabwe.