(2 Minutes read)
MSMEs are expected to have access to affordable, decent, and modernized workspace as well as access to affordable loans, and technical advisory towards initiation of formalization into established formal sustainable entities.
The Zimbabwe Chamber of Small & Medium Enterprises (ZCSME), which serves as the umbrella body of MSMEs Business Associations in Zimbabwe, has partnered with Alinial Chartered Accountants to accelerate the implementation of MSMEs Policy 2020-2024. This initiative aims to ensure the early realization of Vision 2030.
Alinial Chartered Accountants is a diversified group that is involved in Advisory services, investment promotion, commodity broking, and general trading & supply.
It is anticipated that more than 4.5 million micro small and medium enterprises will benefit from the collaborative agreement. Under the agreement, MSMEs are expected to have access to affordable, decent, and modernized workspace as well as access to affordable loans, and technical advisory towards initiation of formalization into established formal sustainable entities.
According to Mr. Samuel Makuvire, Managing Director of Alinial Chattered Accountants, a pilot project has already been carried out in the Chiredzi district, where 220 MSMEs have benefited from reasonably priced and modernized work premises. He said the project will be expanded to other districts across the country.
This development comes at a time when, according to a 2021 MSMEs study, approximately 70% of the 4.1 million MSMEs’ owners reported that they had not received any form of training on how to manage their businesses. Additionally, it’s estimated that 56% of the 4.1 million MSMEs had their primary source of funding was “savings. Less than 1% of businesses received funding from MSMEs associations, and 1.3% were sponsored by both banks and microfinance organizations.
Read Also:
https://trendsnafrica.com/eib-to-focus-on-zimbabwe-to-kick-start-growth/
Of the 4.1 million businesses, over 2,9 million operated without any kind of registration, and 40.9 percent of those businesses were run by individuals who claimed not to know.
