ZB unlocks SMEs full potential

Bulawayo Chamber of SMEs chairperson Coustine Ngwenya

THE ZB Financial Holdings Limited on Saturday held the inaugural Small Medium Enterprises (SMEs) Expo aimed at demonstrating the financial institution’s full commitment towards supporting the growth and development of SMEs in Bulawayo.

The event, which attracted a total of 60 exhibitors, was held at the Zimbabwe International Trade Fair (ZITF) under the theme 'Accelerating  growth of SMEs through financial partnerships'. 

Speaking during the workshop, ZB Financial Holdings Limited non-executive director Tenjiwe Sibanda said SMEs would receive financial impartation from the invited experts.

"Our aim is to equip SMEs with financial literacy, funding options, and account opening opportunities; today, you will have the chance to engage with our experts, industry specialists and like-minded entrepreneurs, gaining valuable insights and knowledge to help your businesses thrive," Sibanda said. 

In his remarks, Bulawayo Chamber of SMEs (BCSMEs) chairperson Coustine Ngwenya challenged the SMEs to formalise their businesses for development.

"As SMEs there is an urgent need to formalize our businesses. There is a need to register our organizations with the Deeds and Companies office, ZIMRA, PRAZ, NSSA and Bulawayo City Council," Ngwenya said.

He further advised that this would make it easier to deal with development partners which are banks as  it is also a growth strategy.

Ngwenya further revealed that the chamber was in the process of setting up a facility for women to international markets.

"As we speak, the Chamber is setting up a facility for women in textiles and clothing called Maker Space, it will house state of the art textile and clothing machinery. These collaborations will provide our members with access to expertise, best practices, and potential international market opportunities." 

Meanwhile, the BCSMEs is building strong local alliances with the Bulawayo City Council (BCC),private companies in construction, insurance, banks, and other financial institutions, both locally and abroad to enable the sector to contribute 60% of the  GDP.


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