Government engages banks over SMEs fund

By ZBC Reporter
THE government says it is working with various stakeholders including banks to cushion small to medium enterprises from the effects of COVID-19.

Small to medium enterprises have not been spared from the effects of the COVID-19 pandemic in light f strict lockdown measures which have been put in place to contain the pandemic.

The Minister of Women Affairs, Community, Small and Medium Enterprises Development, Dr Sithembso Nyoni has since revealed two separate funds for the sector to remain afloat.

“As government, we are making frantic efforts to try and help SMEs and as we speak there has been an increased uptake of our to separate funds that the government introduced. the funds are being managed by the women’s bank and the ministry of public works,” she said.

Meanwhile, Small to Medium Enterprises representatives have called on the widening of the stimulus package, given the impact of the pandemic on the sector.

“While we welcome the efforts by the government it is also imperative that we look at other immediate measures to cushion small businesses.

“I think small businesses have suffered and we are ready to operate under strict covid 19 guidelines to try and resuscitate our businesses. We would also want government to chip in helping us in growing our businesses,” they said

Government has set up an economic stimulus package to cushion SMEs and vulnerable groups against the disruptive impact of the global pandemic.

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