Deputy Minister Jennifer Mhlanga was present at the ZB Holdings MSMEs business expo on Friday, June 28. The event featured exhibits and a business workshop that persisted into Saturday. With the theme “Accelerating SME growth through financial partnerships,” the event offered a significant chance for those involved in the Micro, Small, and Medium Enterprises (MSMEs) sector to enhance their connectivity to financial and business development services.
Permit me to take this opportunity to thank ZB Holdings for putting together this important event once more. Deputy Minister Mhlanga urged other interested parties in attendance to “follow ZB Holdings’ lead and implement strategies to support the development and growth of the MSME sector so that Vision 2030 becomes a reality.”
The deputy minister poses for a photo with some of the exhibitors
The speaker proceeded to state that the Micro, Small, and Medium-Sized Enterprises (MSMEs) industry remains a vital component of Zimbabwe’s economy, making up more than 60% of the nation’s economic activity. With 4.8 million people working full-time (MSME Survey 2021), MSMEs greatly contribute to employment in the nation and generate USD 7.8 billion in GDP (Finscope MSME Survey 2022). SMEs are involved in a wide range of industries, including mining, retail, manufacturing, energy, construction, and services.
Cynthia Muzira delivering welcome remarks at the ZB Holdings Expo
Emilia Mabika ZB Holdings Brand Executive
However, the sector’s business operations are hampered by a number of factors, including a lack of business management skills, mentorship, coaching, market access, workspace, and affordable financing. Some lenders regard SMEs as high-risk due to a lack of collateral security, making it difficult for them to obtain the capital they require to invest, expand, or compete. This limits their potential and hinders their contribution to the economy.
“It is encouraging to note that we have institutions such as ZB that continue to support MSMEs through the provision of funding and other business development support services to promote the development and growth of the sector,” she went on.
The Econet Robot Dog that attracted attention at the ZB Holdings expo
Several guest speakers attended the workshop, educating delegates on business operations and sharing their experiences breaking into the market.
In an interview Emilia Mabika the ZB Holdings brand executive also confirmed that they have a nationwide strategy whereby as ZB they are educating and supporting MSMEs nationwide.
Econet was one of the exhibition’s main attractions after showcasing an AI robot dog, which they claimed could be a man’s best friend just like any other dog.
The camera-equipped dog can also function as a guard dog, and it can be controlled remotely or programmed. Their display of modern technology demonstrated that AI is gradually infiltrating various parts of the world, and the business fraternity should prepare to join this new global trend.
All MSMEs who attended the exhibition joined the deputy minister in thanking ZB Holdings for the services they provide that benefit their businesses, as well as the training that allows them to operate more professionally.
