Story by Memory Chamisa
A delegation from the Zambian Ministry of Small and Medium Enterprises Development is in Zimbabwe for a benchmarking visit.
The delegation, led by its Permanent Secretary in the Ministry of Small and Medium Enterprises Development, is on a four-day working visit during which they will engage various stakeholders and entities in Zimbabwe.
Through the Ministry of Women Affairs, Community, Small and Medium Enterprises Development, the delegation will visit somes SMEs including the Small and Medium Enterprises Development Corporation (SMEDCO) and the Zimbabwe Women’s Micro Finance Bank.
The visit is also expected to further strengthen bilateral relations between Zimbabwe and Zambia with focus on promoting cooperation in micro, small and medium enterprises development.
Mrs Subeta Mutelo, Permanent Secretary for Zambia’s Ministry of Small Medium Enterprises Development told the ZBC News, “The government is nurturing the SME sector as a pillar of Zambia’s economic transformation, hence our visit here in Zimbabwe is to see how the government here is doing. We share notes and improve on areas of cooperation and partnership. There is need to bolster the skills and resources of SMEs to foster self-sustaining, scalable businesses that can contribute more significantly to both Zimbabwe and Zambia’s Gross Domestic Product.
“We have heard of how the government of Zimbabwe has had companies to invest in training programmes, advisory services and technical assistance for SMEs, with these initiatives yielding a significant impact in the long term and we want to implement that also in Zambia.”
The Minister of Women Affairs, Community, Small and Medium Enterprises Development, Senator Monica Mutsvangwa underscored the critical role of SMEs in economic development.
“As we continue to promote the sector’s growth, it is important that we enhance cooperation in the region and share best practices in MSME policy implementation. This will go a long way in positioning the sector to take advantage of the emerging industrial and trade opportunities in the region, especially the AfCFTA which opens MSMEs to a market of 1.3 billion people. This visit is thus a testament of the importance of cooperation in promoting MSMEs growth in the region,” she stated.
The SMEs sector remains a critical pillar for economic transformation and growth in Zimbabwe and Zambia contributing over 60 percent to the Gross Domestic Product.
