Zimbabwe welcomes Zambian delegation for MSME development mission

Source: The Herald – Breaking news.

 

Minister Monica Mutsvangwa

Mutsawashe Mashandure

Herald Correspondent

In a significant move to strengthen bilateral relations and promote economic cooperation, Zimbabwe and Zambia have embarked on a joint mission to develop the Micro, Small and Medium Enterprises (MSMEs) sector.

The delegation is in the country on a four-day mission aimed at strengthening bilateral relations and enhancing cooperation in the MSMEs sector.

Speaking during a press conference, Women Affairs, Community, Small and Medium Enterprises Development Minister Monica Mutsvangwa emphasised the importance of the visit.

“We are deeply excited to have you in Zimbabwe at a time when our two nations are working to solidify the long-standing and excellent relations that have culminated in numerous agreements over the years,” she said.

The minister highlighted that MSMEs are the backbone of African economies, accounting for 90 percent of the continent’s economic activity.

“The sector has untapped and immense potential to drive structural transformation,” she added.

The minister also pointed out that a significant portion of these enterprises, about 56.4 percent, are owned and operated by women.

“This makes them crucial for promoting gender equality and economic inclusion,” she said.

Minister Mutsvangwa highlighted that the Government has prioritised MSME growth through the National Development Strategy and the National Micro, Small and Medium Enterprises Policy Framework.

She also said the Zimbabwean Government is reviewing the SME Act to improve the operating environment for MSMEs.

“We aim to enhance digitalization, access to finance, and overall capacity for MSMEs.

“We are committed to creating a conducive environment that empowers MSMEs to become formalised, competitive, and export-oriented,” she stated.

The Zambian delegation will receive a detailed presentation on the operations of the ministry and engage with successful entrepreneurs to learn about effective business practices.

As part of the visit, the two nations will discuss revisiting their Memoranda of Understanding on Small and Medium Enterprises and Cooperatives Development, with a signing ceremony scheduled for Thursday.