By Archford Chirimudombo
Harare, (New Ziana) – President Emmerson Mnangagwa said on Friday micro, small and medium enterprises (MSMEs) and cooperatives are critical contributors to employment creation, industrial development and the march towards the national vision to attain upper middle income status by 2030.
Speaking at the official opening of the inaugural National Micro, Small and Medium Enterprises (MSMEs) and Cooperatives Indaba in Harare, President Mnangagwa said the conference reflects the Whole-of-Government and Whole-of-Society approach to accelerating national development through broad-based stakeholder participation.
“You are part of the strategic players that have helped the Second Republic realise unprecedented economic growth and social transformation. My administration, therefore, recognises and salutes the role you play in driving entrepreneurship, innovation, industrialisation, employment creation and inclusive economic growth.
“A vibrant and thriving micro, small and medium enterprises and cooperatives sector remains essential for the attainment of Vision 2030 and the goals set out in the National Development Strategy 2. Undoubtedly, this sector is no longer peripheral to our economy; it is now one of the principal pillars,” he said.
He noted that the MSME sector has become one of the country’s major economic pillars, with official figures showing that it contributes more than 60 percent of the Gross Domestic Product, while providing livelihoods and employment opportunities for millions of people.
President Mnangagwa added that the sector continues to strengthen the Local Content Policy and reduce imports through increased production of quality locally manufactured goods.
He said MSMEs and cooperatives have demonstrated resilience by sustaining businesses and maintaining the supply of essential products and services, challenging operators to broaden their horizons by targeting export markets and investing in specialised products within emerging industries, particularly those driven by technology and innovation.
“In agriculture, my government stands ready to scale up support for the growth of enterprises engaged in value addition, processing, packaging and marketing of agricultural products.
“In this regard, rural communities should not be mere producers of raw materials. Across all our provinces, communities and SMEs must be organised to take advantage of opportunities in areas such as processing of oils, milk and milk products, tobacco, leather and leather products as well as in horticulture value chains,” he said.
Turning to the mining sector, President Mnangagwa acknowledged the significant role played by small-scale miners, saying the sub-sector now accounts for about 65 percent of Zimbabwe’s total gold production, making it a key contributor to the country’s mining industry.
“Going forward, I urge our small businesses in the mining sector to gradually move beyond the extraction of minerals towards beneficiation, processing and participation in higher-value segments of the mining value chain,” President Mnangagwa said.
He encouraged entrepreneurs and cooperative societies to seize opportunities in downstream industries by establishing foundries, engineering workshops, fabrication facilities, component manufacturing businesses and other enterprises that support strategic productive sectors.
President Mnangagwa also commended the Ministry of Women Affairs, Community, Small and Medium Enterprises Development for spearheading the review of legislation governing the operations of SMEs and cooperatives, describing the exercise as an important step towards strengthening the sector’s regulatory framework.
“The National Cooperatives Development Policy being unveiled today provides a comprehensive framework for the growth, modernisation and strengthening of the cooperative sector in Zimbabwe. Under the Financial Inclusion Strategy 2, financing mechanisms to support enterprise growth through access to affordable finance will be consolidated.
The inaugural Indaba is being held under the theme, “Towards Vision 2030: Building an Enabling Micro, Small and Medium Enterprises and Cooperatives Ecosystem,” bringing together policymakers, financial institutions, development partners, entrepreneurs and cooperative leaders to explore strategies for strengthening the sector’s contribution to national economic development.
New Ziana
