ZW$ 50m disbursed in support of SMEs

By ZBC Reporter

The Government continues on its drive to capacitate women in small and medium businesses with processing equipment as part of interventions to resuscitate SMEs which were negatively affected by COVID-19.

Most economic sectors were badly affected by COVID-19 and SMEs owned by women were not spared.

According to the Deputy Minister of Women Affairs, Community, Small and Medium Enterprises Development, Honourable Jennifer Mhlanga, the ministry through the Zimbabwe Women’s Microfinance Bank is running with an asset project which is meant to assist women to venture into production through supplying timber processing and bakery equipment.

She was addressing the media during the recent Tugwi Mukosi inter-ministerial tour.

“We have disbursed close to 50 million Zimbabwe dollars now. The bank is also running with an asset project post-COVID-19 to assist our women to go into production. We would want our women to abandon the issue of going out of our borders dumping finished products. We now want to emphasize for our women the productive importance of our business aspect.”

Deputy Minister Mhlanga emphasised that the ministry is working towards ensuring that conducive working spaces which have the requisite amenities are built for Small and Medium Enterprise owners(SMEs) across the country.

“The most important thing that we are also running with is to build better decent working spaces for women.”

Meanwhile, the government recently came up with a support fund of 500 million Zimbabwe Dollars being administered through the Zimbabwe Women’s Bank and Small and Medium Enterprises Development Corporation (SMEDCO) to resuscitate SMEs affected by COVID-19.

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