Latest News Editor's Choice


News / National

SMEs 4ED launched

by Staff reporter
03 Jul 2023 at 07:04hrs | Views
The Small and Medium Enterprises for Economic Development (SMEs for ED) Harare Chapter has been launched, and immediately pledged to mobilise voters for Zanu-PF Presidential candidate President Mnangagwa for the upcoming harmonised elections.

Speaking during the launch in Glen View, Harare, on Friday, Politburo member and Chitepo School of Ideology principal Munyaradzi Machacha said the empowerment lobby group's main goal was to persuade the Government to promote SMEs and to mobilise for Zanu-PF.

"The purpose of today's event is to bring together all of our affiliates in the economic sector so that we can discuss with them the needs they have for expansion," said Machacha.

"We want to persuade the Government to support these SMEs so that they can develop from small businesses into medium and large businesses.

"Additionally, the group serves as a tool for party mobilisation, and as election day draws near, they represent a crucial constituency that we want to engage in order to secure their support for our presidential, parliamentary, and local government candidates."

Machacha said the launch of the group marks the start of the campaign in the small and medium-sized business sector, with the goal of bringing them on board so they move with others towards a resounding Zanu-PF victory on August 23.

SMEs for ED president Mr Lloyd Bahera committed to support President Mnangagwa for a great victory.

"We, the SMEs, pledge our support for President Emmerson Mnangagwa as we move closer to the elections. In order for him to win, we will mobilise at least 1 000 SMEs in each ward," said Mr Bahera.

Chairperson of Harare Chamber of SMEs Mr Lucky Moyo said they will voluntarily come together to show their appreciation for President Mnangagwa's efforts to improve the operations of SMEs through various forms of support, including provision of funds.

"In Zimbabwe, SMEs are well-funded because they have access to the financial sector, which is strongly supported by our Government through providing sufficient funding for the development and growth of SMEs," he said.

SMEs play a critical role in Zimbabwe's economy, with a sizable number of people employed there.

According to the 2022 Finscope SMEs Survey, micro-small and medium enterprises contributed US$8,2 billion to the national Gross Domestic Product.

Source - The Herald