ZWL$500 million SMEs facility to boost productivity

By Business Editor
PLAYERS in the Micro, Small and Medium Enterprises sector are expecting improved productivity following government’s announcement of a 500 million Zimbabwe dollar facility.
The relaxation of lockdown measures have seen SMEs reopening with restored business confidence.
Players in the sector, who met in Harare this Friday, spoke on their expectations of the Reserve Bank of Zimbabwe (RBZ) facility unveiled this Tuesday.
“It is a major boost towards our operations, It will only boost our production capacity,” echoed one player.
Central bank authorities also revealed their commitment to the growth of emerging industries.
“We shall do our best to make sure the facility is critical in addressing the needs of the SMEs,” said Mr Khumbulani Shirichena, Reserve Bank of Zimbabwe spokesperson.
SMEs are rendered critical to Zimbabwe in terms of job creation, value addition, self-sustenance and economic development.