‘SMEs need knowledge empowerment’
A MAJORITY of small to medium enterprises (SMEs) are unable to access key markets due to lack of knowledge on requirements that enable them to tap into those markets, a Cabinet minister has said.
Although the SMEs sector has been lauded for creating a huge opportunity base for many people, the Minister of Women Affairs, Community, Small and Medium Enterprise Development, Dr Sithembiso Nyoni, says more knowledge empowerment is required to upscale the sector’s economic impact.
She was speaking during an SMEs Workshop organised on the sidelines of the just ended Zimbabwe International Trade Fair (ZITF) in Bulawayo.
Dr Nyoni said the Government will continue to provide support for the sector and helping it tap into the huge market opportunities at home and abroad.
“Government, through its line ministries and agencies, provides a huge market opportunity for various MSME products and services.
However, the majority of SMEs are unable to access this market due to lack of knowledge on requirements enabling them to tap into the market,” she said.
“Therefore, one of the key purposes of this workshop is to build the capacity of SMEs and impart information on how they can actively participate in public procurement.” As a Government agency, Dr Nyoni said the Procurement Regulatory Authority of Zimbabwe (PRAZ) was also there to help SMEs with necessary information on how to access the big tenders.
She also said wholesale and retail outlets in the country provide market opportunities for a variety of SME products and services.
“As SMEs, let us take this opportunity to market products though retail and wholesale outlets to ensure that our products reach out to many clients spread through the country, said Dr Nyoni.
She urged SMEs to adopt digital technologies to promote growth of their businesses operating in line with the global trends.
“The use of digital platforms has the potential to significantly reduce costs as they can attract customers at much lower costs than conventional marketing methods,” said Dr Nyoni.
“They are also important in enabling SMEs business support services such as payment of bills, loan applications, cash transfers, access to maintenance and repair service providers, business advisory among others.”
In this regard, the minister said the Government continues to come up with intervention strategies to support adoption of digital technologies by small women owned businesses.
She said one of the digital platforms, which supports women with real time business information in the Common Market for Eastern and Southern Africa (Comesa) region is the 50 Million Women Speak (50 MWS) platform launched on the 3 September 2020.
“Women have access to information on markets, credit lines, available products and trade regulations, which facilitate cross border exchanges,” she said.
“The facility is a welcome development especially during this Covid-19 period as women have been able to conduct online business in the comfort of their homes.” The 50MWS is a three-year project funded by the African Development Bank (AfDB), jointly implemented by Comesa, East African Community (EAC) and Economic Commission for West African States (Ecowas) in 38 countries.
Deputy Minister of Women Affairs, Jennifer Mhlanga
Deputy Minister of Women Affairs, Jennifer Mhlanga, also attended the event and stressed the importance of embracing standards in order to meet market expectation.
– The Chronicle
