Harare – The Zimbabwe Chamber of SMEs, representing over 4.5 million micro, small, and medium enterprises (MSMEs), is set to assert its influence in shaping policies through the upcoming 2025 SMEs Post-Budget Review Seminar. The event, co-hosted with the Indigenous Advisory Practitioners Association of Zimbabwe (IAPAZ) and Harare Institute of Technology (HIT), will take place on December 4, 2024, at HIT’s Innovation Hub.
Speaking ahead of the seminar, Last Matema, National Advisor to the Chamber, emphasized the importance of this initiative in aligning the national budget with Zimbabwe’s broader economic vision. “Our review will be comprehensive and focused on ensuring that the budget supports sustainable MSME development,” Matema stated. “We will assess whether it aligns with the Vision 2030 agenda and whether the allocation to key institutions, like SMEDCO, is sufficient to support SMEs as we prepare for the operationalization of the African Continental Free Trade Area (AfCFTA).”
Matema noted the critical need to avoid pitfalls that could undermine progress. “If AfCFTA becomes fully operational without adequate and focused support for our SMEs, all the efforts we’ve made in building the sector could be in vain,” he warned.
Key areas of focus for the seminar include streamlining and synchronized government initiatives on SMEs development, leveraging ICT to formalize MSMEs, and ensuring adequate funding for skills development. “We need to address the costly duplication of SME development programs within government and propose ways to streamline these efforts,” Matema said. “Digital transformation is another priority. We want to see ICT being used to formalize MSMEs and sustainably expand the tax base, which is essential for national development.”
The seminar will also delve into legal reforms. “One of our major concerns is the outdated SMEs Act which is not just out dated buy not synchronized with the other legal instruments incidental to MSMEs operations. We’ll be examining whether the budget provides sufficient support for the Ministry of Justice and the Attorney General’s Office to update and synchronize the key laws to SMEs development,” Matema added.
The event will feature a distinguished panel of experts from various sectors, including monetary policy, taxation, MSME development, and business coaching. Their insights will be pivotal in guiding discussions and formulating actionable recommendations. “We have brought together some of the best minds in finance, policy, and entrepreneurship to ensure a robust and informed discussion,” Matema emphasized.
Hon. Senator Monica Mutsvangwa, Minister of Women Affairs, Community, Small and Medium Enterprises Development, will deliver the keynote address. Matema highlighted the significance of this high-level engagement, noting that it signals the government’s commitment to constructive dialogue with stakeholders. “The presence of Minister Mutsvangwa underscores the government’s dedication to working with us in driving national progress,” he said.
Matema underscored the need to shift perceptions about the MSME sector, emphasizing its critical role in the economy. “There’s a misconception that MSMEs are merely hawkers and vendors, but in reality, they are the backbone of our economy,” Matema explained. “Any business employing up to 75 people, generating annual revenue of up to $3 million, or holding assets worth $2 million qualifies as an MSME. This seminar will not only clarify the definition of MSMEs for stakeholders but also evaluate whether the budget was crafted with this shared understanding in mind.”
Following the seminar, the Chamber will compile a comprehensive report and submit it to key stakeholders, including the Ministry of women affairs , Ministry of Finance, Parliament, and the Office of the President. “We are committed to leveraging the Second Republic’s openness to constructive engagement. This is about building our nation together, in line with the mantra Nyika inovakwa nevene vayo,” Matema concluded.
