Latest News Editor's Choice

Opinion / Columnist

Entrepreneurship, the new spirit of Zimbabwe

21 Dec 2018 at 13:53hrs | Views
The turn of the 21st century was not good for Zimbabwe as the country was slapped with illegal sanctions by the west which led to the closure of many industries. Despite going for nearly two decades with no meaningful capital investments coming our way, Zimbabwe did not go down owing to the resilience of its citizens.

The above scenario gave way to the spirit of entrepreneurship which saw the establishment of self jobs where the owners were employing one or two people. Now in cities, towns and growth points we have this new crop of business people.

While presenting the 2019 national budget, Minister of Finance and Economic Development, Professor Mthuli Ncube showed his support for the Small, Medium Enterprises (SMEs) as a basis for future large companies and hubs of employment creation.

"In addition to macroeconomic consolidation, the TSP gives emphasis to investment and support to the SMEs sector, which absorbs a growing number of our people as entrepreneurs and workers. Investment includes infrastructure for use by SMEs. This Budget seeks to contribute towards the establishment of Venture Funds, targeting the game changing SMEs sectors. The Venture Funds will augment the role of the Empower bank and Women's bank," said Prof Ncube.

Reports across mainstream media estimated that SMEs contribute over 50 percent of gross domestic product (GDP) and employing 60 percent of the population. This piece of statistics shows that SMEs are equally important in the country's economic revival strategy.

Soon after independence, the Ministry of Education promoted the learning of practical subjects even at primary school. Those were the years when focus was on the "education with production" mantra.

A stroll around the Magaba and Siyaso areas in Mbare as well as Area 8 in Glen View shows the potential these entrepreneurs have if given proper operating places with solid infrastructure, funding and the right tools.

The property giant, Old Mutual has also caught the wave of promoting SMEs when it constructed its Eastgate SME Centre in Harare. The centre offers modern facilities for vendors who can keep their fresh produce under a 2 000 square metres of refrigeration facilities. This in turn will provide value for money for the vendors and their clients.

The country's economy is anchored on agriculture, therefore those who are into farming at a low scale needs financial and material support to improve on their venture. Fresh produce which is consumed in many cities and towns are produced in rural areas such as Domboshava, Chihota, Seke, Mutoko and Murehwa, among other areas.

In the same vein the financial package should be extended to artisanal miners who this year alone contributed more gold than established gold mining companies. With such a cocktail of measures, the entrepreneurs are bound to turn around the fortunes of the Zimbabwean economy.

Source - Elijah Chihota
All articles and letters published on Bulawayo24 have been independently written by members of Bulawayo24's community. The views of users published on Bulawayo24 are therefore their own and do not necessarily represent the views of Bulawayo24. Bulawayo24 editors also reserve the right to edit or delete any and all comments received.