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Friday, May 24, 2024

Government hailed for supporting SMEsStory by Gay Matambo

SMALL to Medium Enterprises (SMEs) in Chiredzi town have applauded the second republic for rolling out programmes that support and accelerate the growth of the sector across the country.

Since 2021, close to 500 SMEs in the Chiredzi district have benefitted from the government’s financial empowerment programmes that include the Empower Bank, Women’s Bank and the Small and Medium Enterprises Development Cooperation.

The empowerment programmes have ensured that these SMEs operate as close as possible to their maximum potential.

Beneficiaries of the empowerment programmes testify they are now able to make a significant impact on the country’s mainstream economy.

The Zimbabwe Chamber of SME’s National Secretary General, Mr Venancio Kurauone also noted efforts by the government to create a conducive environment for SMEs to thrive.

“We are grateful because the new dispensation has availed a conducive environment for SMEs to operate in. So many empowerment programmes have been rolled out by the government in terms of working spaces, there is a huge development and we are truly grateful.

“Undercapitalisation, difficulties in accessing funds due to lack of collateral are affecting the SMEs in Zimbabwe hence the government has made several efforts to support the sector,” he said.

Statistics show that SMEs in Zimbabwe contribute close to 50 percent of the country’s gross domestic product and account for over 60 percent of the country’s employment statistics.

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