SMEs equipped with capital mobilization,
digital penetration skills

A select group of small to medium entrepreneurs drawn from diverse industries and
trade in Bulawayo were recently equipped with capital mobilization skills, digital
penetration and advantages of brand position.

Over 90 SMEs attended a one-day panel discussion organized by Diamond Berry
Enterprises.

Diamond Berry is a business development company that provides end to end business
solutions with a biased focus on SMEs.

Diamond Berry managing director, Mr Nhlanhla Dabengwa said “The SME Indaba is an
annual breakfast meeting to discuss industry sustainability practices.

“The Indaba hosts corporate Zimbabwe, SMEs and stakeholders of the sector. Sentiments
of the event are that it was impact led and very informative on the part of panel
discussions.
“The event provided a ripe space for networking and shared knowledge, ” said Mr
Dabengwa.

This year’s edition was held under the theme “Reset Realign and Reposition the SME
sector for success”
Mr Dabengwa said 92 SMEs attended with three speakers leading the panel discussion.
Entrepreneur, Providence Moyo of Divine Pro-Skincare spoke on turning obstacles into
opportunities as an entrepreneur and how to navigate tough times as an entrepreneur.
Mr Tawanda Mpoperi from Zimnat presented on Capital Mobilization for SMEs while
Farai Hove discussion centred on digital penetration for SMEs

“Hove spoke about challenges faced by SMEs in accessing funding and what they need to
do to present bankable projects proposals.”

The SMEs provided a major source of employment and generated significant domestic
and export earnings.

However, they face a more uncertain competitive environment than larger companies as
they experience more variable rates of return and higher rates of failures and are
comparatively less equipped in terms of both human and capital resources to withstand
economic adversities.
They also face the problem of inadequate accounting systems, which undermines the
accessibility and reliability of information concerning profitability and repayment
capacity.
SMEs usually have insufficient personal savings, resulting in low initial promoters’
equity.
There is also lack of reliable information on the operations of the majority of them and
inability of entrepreneurs to articulate business plans due to lack of sophistication and
skills.-The Chronicle