SMEs pin hopes on Bedcon for economic revival

Small and medium enterprises (SMEs) across various sectors in Bulawayo have pinned their hopes on engaging with the local authority and voicing their opinions through the Bulawayo Investment Development Conference (Bedcon25), which commences today.

The inaugural Bedcon is designed to tackle economic challenges facing local businesses and drive sustainable growth.

To be held under the theme: “Promoting Inclusive and Equitable Economic Development,” the conference aims to bring together key stakeholders from various sectors to craft innovative solutions for the city’s economic revival.

Scheduled to run from today to April 11, the event will provide an ideal platform for Government officials, business leaders, academics, researchers, economic think tanks and civil society representatives to dissect issues constraining businesses operating in the city.

Bulawayo City Council

The forum is expected to provide a platform for participants to exchange ideas, share best practices and forge strategic partnerships to drive economic progress.

In an interview, Bulawayo Chamber of SMEs chairperson Mr Coustin Ngwenya, said the platform will give SMEs an opportunity to air their views and grievances to the local authority.

Mr Ngwenya emphasised the critical role SMEs play in Zimbabwe’s economy, stating that if adequately capacitated, they can lead the industrialisation of Bulawayo.

“This platform will help us as SMEs, firstly, through interaction with other stakeholders. It gives us a platform to air our grievances and helps us assess service providers,” said Mr Ngwenya.

“Almost 80 percent of the economy is held by SMEs, but there are certain challenges we face. However, with these platforms, we can interact with other stakeholders who can be of help to us.

“Discussions during the conference are also expected to proffer solutions to Bulawayo’s economic challenges, explore successful development models from other regions, and establish partnerships that promote inclusive and sustainable growth.”

In addition, the forum will also identify key economic hurdles and opportunities, attract investment into the city, advocate for economic reforms, and enhance public-private partnerships for collaborative development.”

Bulawayo Leathers Cluster secretary, Mr Fungai Zvinondiramba, said Bedcon is expected to allow them to engage the local authority regarding workspace, which is critical.

Mr Zvinondiramba emphasised the need for the City of Bulawayo and SMEs to enforce by-laws, to ensure orderly operations.

“Bulawayo is not going to be an industrial hub again, but it is an industrial hub because the industrial infrastructure is already there and the skill set for all sectors is there. The key is the relationship between the local authority and the SMEs,” said Mr Zvinondiramba.

“This conference will allow Bulawayo City Council to engage with SMEs and understand their concerns.
“The major challenge for SMEs is workspace, whether the already available facilities or the land to construct new facilities and to make SMEs understand By-Laws.”

Mr Zvinondiramba clarified that the by-laws were not meant to hinder SMEs but rather to ensure orderly operations.

According to a document shared by City Economic Development Officer, Mr Kholisani Moyo, fostering discussions and collaborations at Bedcon25 would stimulate economic growth and development strategies, ultimately leading to job creation and improved living standards.

“The conference can serve as a platform to attract both local and foreign investments by showcasing opportunities across various sectors,” the document states.

“Insights gained from the conference can inform government policies aimed at economic recovery and growth.”

The conference will focus on critical economic pillars, including strategies to rejuvenate Bulawayo’s industrial sector and enhance its global competitiveness.

It will also highlight the role of digital transformation and technological innovation in economic development.-chronicle