By Shadreck Gurenje

President Mnangagwa has said his administration under the Second Republic recognises that SMEs are a key driver of economic growth and broad-based empowerment.

Giving his keynote address at the Official opening of the Mbare market Phase 1 and commissioning of the second phase, President Emmerson Mnangagwa said the importance of Small and Medium Enterprises Sector to the growth of the economy cannot be over-emphasised as it stands as one of the critical pillars of the economy in Zimbabwe towards the realisation of vision 2030.

“The importance of Small and Medium Enterprises Sector to the growth of our economy cannot be over-emphasised. It stands as one of the critical pillars of the economy, contributing significantly to the total Gross Domestic Product.

“My Government, thus, recognises that SMEs are a key driver of economic growth, job creation, wealth creation and broad-based empowerment. Earlier this week, I attended the 11th Session of the Africa Regional Forum on Sustainable Development in Uganda, as Chairman of SADC. As leaders of Africa, we discussed the importance of driving job creation and economic growth, particularly through our young people and women.

“I, therefore, challenge the entrepreneurs of our country to scale up the establishment of small businesses and start-ups in line with emerging trends and digital technologies,” said President Mnangagwa.

The Head of State and Government also said government is ready to play a pivotal role in supporting solutions and new products related to agriculture and climate technologies that propel the industrialisation agenda.

“As a Government, we are ready to support solutions and new products related to agriculture, financial and climate technologies among others that must propel the industrialisation of our country.

“The facilitation of more opportunities and windows of support such as low interest financing, business development services, transfer of skills and technologies as well as market access for the sector, will be availed. Collaborative synergies between those in the SMEs sector and relevant Ministries, Departments and Agencies are of critical importance towards the formalisation of small businesses and start-ups.

“As we continue to diversify our economy, the formalisation of this sector must never be viewed as a direct threat to the survival and sustainability of your respective businesses,” said President Mnangagwa.

President Mnangagwa also reiterated that government will continue to improve the ease of doing business through reducing barriers to entry as well as streamlining business registration and compliance levies.

“On its part, my Government will continue to improve the ease of doing business, through reducing barriers to entry, as well as streamlining business registration, licencing and compliance levies.

“Dialogue with the SMEs sector is an essential building block for enhanced business productivity. There should not be ‘a them and us’ mentality. Government and the sector must act as one, for the good of our motherland, Zimbabwe.

The Ministry of SMEs is challenged to deploy innovative initiatives that will see more SMEs become fully fledged business entities with footprints beyond our country and the SADC region,” said President Mnangagwa.

Meanwhile, President Mnangagwa’s administration is determined to see the realisation of the ‘Urban Transformation Agenda’ and the programme is designed to primarily focus on addressing rapid urbanisation by prioritising safe, inclusive, resilient and sustainable cities and human settlements, in line with Sustainable Development Goal Number 11.