Business / Economy
Support SMEs: Mujuru
07 Jul 2011 at 03:21hrs | Views
Zimbabwean Vice President Joyce Mujuru says African governments should craft policies that stimulate the growth of cooperatives which are hamstrung by the prevailing liquidity crunch.
Speaking during commemorations for International Day of Cooperatives on Wednesday, Mujuru said policies that African governments formulated did not cater for cooperatives, reports New Ziana.
WIN YOUR TICKET FOR THE BOSSO versus CELTIC Match
"Engines of economic growth, such as SMEs and cooperatives are sidelined," New Ziana quoted Mujuru as saying.
"Access to financing, industry standards and infrastructure needs are often crafted and implemented with the interest of those sectors considered to be the main players in the economy in mind," she said.
Mujuru said cooperatives have emerged as self help groups that contribute towards poverty alleviation, economic growth and social development.
"Cooperatives help create, improve and protect income, as well as employment opportunities of their members by pooling the limited resources to create a business enterprise," she said.
She said illegal sanctions imposed on the country and introduction of the multiple currencies left some cooperatives with nothing to fall back on.
"I wish to commend efforts made by the Ministry of the Small and Medium Enterprises and Cooperative Development (SMED) to resuscitate cooperatives that had been adversely affected by the harsh economic climate over the past decade," she said.
Mujuru said the people with disabilities and the youth should be encouraged to join cooperatives since they were the future leaders.
"Through cooperatives, we can create space for youths and also the disabled to participate in economic activities," she said.
Speaking at the same function president of cooperatives Mike Duru said the associations were playing a pivotal role in employment creation as well as poverty reduction.
"Due to lack of credit lines in the country, some cooperatives suffered immensely. Despite challenges we are recording favorable turnover," said Duru.
There are 4,670 registered cooperatives in the country.
Speaking during commemorations for International Day of Cooperatives on Wednesday, Mujuru said policies that African governments formulated did not cater for cooperatives, reports New Ziana.
WIN YOUR TICKET FOR THE BOSSO versus CELTIC Match
"Engines of economic growth, such as SMEs and cooperatives are sidelined," New Ziana quoted Mujuru as saying.
"Access to financing, industry standards and infrastructure needs are often crafted and implemented with the interest of those sectors considered to be the main players in the economy in mind," she said.
Mujuru said cooperatives have emerged as self help groups that contribute towards poverty alleviation, economic growth and social development.
"Cooperatives help create, improve and protect income, as well as employment opportunities of their members by pooling the limited resources to create a business enterprise," she said.
She said illegal sanctions imposed on the country and introduction of the multiple currencies left some cooperatives with nothing to fall back on.
"I wish to commend efforts made by the Ministry of the Small and Medium Enterprises and Cooperative Development (SMED) to resuscitate cooperatives that had been adversely affected by the harsh economic climate over the past decade," she said.
Mujuru said the people with disabilities and the youth should be encouraged to join cooperatives since they were the future leaders.
"Through cooperatives, we can create space for youths and also the disabled to participate in economic activities," she said.
Speaking at the same function president of cooperatives Mike Duru said the associations were playing a pivotal role in employment creation as well as poverty reduction.
"Due to lack of credit lines in the country, some cooperatives suffered immensely. Despite challenges we are recording favorable turnover," said Duru.
There are 4,670 registered cooperatives in the country.
Source - The New Ziana
