SMEs urged to leverage mining sector investments for growth
The fast-growing small and medium enterprises (SME) sector has been urged to capitalise on the significant investments made by global conglomerates, particularly in the mining sector, to expand their operations.
In recent years, the mining industry has experienced a surge in investment, with the lithium sector standing out as a key area of growth. Multi-million-dollar plants have been established across various provinces, boosting industrial activity and creating opportunities for downstream businesses.
For instance, in Matabeleland North, Kamativi Lithium Mine has come on board, while Zulu Lithium in Insiza District and Gwanda Lithium Mine Zimbabwe in the Mandihongola area of Matabeleland South province have made strides in the sector.
Kamativi Mine plant
Further afield, projects such as Arcadia Lithium Mine, Prospect Lithium Zimbabwe (PLZ), and Sandawana Mines, a lithium operation in Mberengwa (Midlands Province), have also contributed to the sector’s expansion.
Recognising these developments, the Minister of Women Affairs, Community, Small and Medium Enterprises Development, Monica Mutsvangwa, has encouraged SMEs to strategically position themselves to offer services that support these large-scale investments.
SMEs play a crucial role in job creation, leveraging their agility and adaptability to drive employment in manufacturing, services, and technology. Their contribution to fostering inclusivity and providing entry-level opportunities across different industries cannot be overstated.
Minister Mutsvangwa, who spoke at the inaugural Competitiveness Summit in Bulawayo on Wednesday, emphasised the need for SMEs to take advantage of the mining boom.
“We are seeing SMEs taking advantage of investments that have been brought to the country by President Mnangagwa. These are big investments. Our SMEs should take advantage of this top-notch global funding.
“There are downstream benefits for the SMEs, and we would want them to ride on the huge mining ventures, whether it’s Arcadia, Sabi Stars, Zulu Lithium, Sandawana Mines, Kamativi Lithium Mine, or even the Manhize Steel Plant.
“Accessing locally manufactured steel would improve product quality, enabling it to be exported and compete competitively anywhere in the world,” she said.
She presented on the topic: “Using Novel Financial Architecture to Mobilise Resources for Women and Youth in Business to Enhance Sustainable Industry Productivity and Competitiveness.”
By tapping into these investment opportunities, SMEs can strengthen their market presence and contribute to broader economic growth, she said.-chroncile
