By Tinaani Nyabereka
Gweru — The ZB Financial Holdings hosted a successful Small and Medium Enterprises (SMEs) Expo at Gweru Sports Club last Saturday July 27.
The Midlands SMEs Expo was held under the theme; ‘Accelerating SME Growth through Financial Partnerships,’ with an objective to enhance collaboration and support to Zimbabwe’s Micro, Small, and Medium Enterprises (MSMEs).
Speaking at the event, Minister of State for Midlands Provincial Affairs and Devolution, Owen Ncube applauded ZB Financial Holdings for its leadership and commitment to advancing the MSME sector.
“Zimbabwe’s economy, noting that they account for over 60% of economic activities, provide 4.8 million full-time jobs, and contribute USD 7.8 billion to the GDP. Despite this significant impact, MSMEs face challenges such as inadequate business management skills, limited mentorship, and poor access to markets, workspace, and affordable finance.
“The government’s efforts, guided by the MSMEs Policy Framework (2020-2024), include promoting access to finance through various funds and Savings and Credit Cooperatives (SACCOS), facilitating market access in partnership with ZimTrade, offering business and technical skills training, and encouraging the adoption of standards and product certification. Additionally, efforts to formalize MSMEs through business registration are ongoing,” said Ncube.
“Participants at the Expo are set to benefit from financial literacy training, opportunities to explore diverse funding avenues, and interactions with financial institutions to identify tailored financial products. The event also highlights sustainability practices through the Grow a Tree Foundation and provides insights into public procurement opportunities.” He added.
Speaking at the same event, Standard Association of Zimbabwe (SAZ) representative, Nyasha Mutseyekwa said they were there to work with SMEs in coming up with fine standards.
“So as Standard Association, we are not responsible for making standards, rather we invite other important stakeholders – be it academia, retailers, researchers, etc, so that they assist you. We want you to bring your products for testing before taking them to the market,” said Mutseyekwa.
“The benefit of us testing your products as MSMEs is, you get the market value and quality of your product. Even if you want to get a loan, once your products are certified, it brings in confidence to the lenders,” Mutseyekwa added.
