Small Businesses Thrive under Second Republic’s Sound Policies  

by | Jun 15, 2023 | Business, Local News | 0 comments

Brian Rungano Temba

Small businesses are thriving despite sabotage by established companies who are working in connivance with shadowy agents to manipulate the exchange rate and trading exclusively in hard currency.

Cabinet heard on Wednesday that a huge number of Micro Small and Medium Enterprises (MSMEs) businesses were doing well and graduating across all the ten provinces – further proof of the conducive business environment and sound policies by the second administration.

Acting Minister of Information Publicity and Broadcasting Services, Hon Dr Jenfen Muswere told the press yesterday that to date, a total of 391 Micro, Small and Medium Enterprises (MSMEs) have so far graduated in Harare, Midlands and Manicaland Provinces, which collectively made a turnover of USD$120 million and created employment for 7 155 people.

The graduands were drawn from the furniture, chemicals and detergents, clothing; services, manufacturing, agro-processing; leather industry, construction, retail, tourism, arts and culture, agriculture and metal fabrication sectors.

“The nation is informed that a graduation programme has been initiated across the country’s ten provinces in order to encourage formalisation within the Small and Medium Enterprises sector and honour enterprises which have grown from one level to another, including those that have graduated to large enterprises.

“The Midlands MSME Graduation Ceremony was held in December 2022 and was officiated by His Excellency the President, Dr. E.D. Mnangagwa with a total of 112 enterprises graduating from one level to another.

“71 enterprises graduated from micro to small, 26 from small to medium and 15 from medium to large enterprises,” he said.

He said the enterprises had a total annual turnover of US$43 million and were providing employment to a total of 3 063 people.

Meanwhile, Harare Metropolitan Province saw 166 MSMEs graduating in March 2023.

“A total of 122 MSMEs graduated from micro to small, 38 from small to medium and 6 from medium to large enterprises. The enterprises had a total annual turnover of over US$35 million and were providing employment to 2 040 people.

A total of 17 MSMEs were awarded special awards for exceptional performance.

“The Manicaland Province saw 113 MSMEs graduating with 89 from micro to small, 17 from small to medium and 7 from medium to large scale enterprises. The enterprises were in sectors that include animal husbandry, fisheries, metal fabrication, tourism and hospitality, dairy and timber processing among others.

He also said through the programme Government also appreciated the improved access to markets by MSMEs and increased MSMEs’ contribution to fiscal revenue as more enterprises are coming forward to pay taxes.

“In turn, Government will continue to support the programme in order to accelerate the movement of more micro-enterprises from informal to formal and enhance productivity and competitiveness in the sector as we demonstrate that Nyika Inovakwa Nevene Vayo/Ilizwe Lakhiwa Nabanikazi Balo,” he said.