The Sunday News
Rutendo Nyeve, Sunday News Reporter
A total of 391 Micro, Small and Medium Enterprises (MSMEs) have so far been graduated is various courses as Government moves towards formalising the sector to large enterprises.
Speaking during a Post Cabinet briefing on Wednesday, Acting Minister of Information, Broadcasting and Publicity Services Dr Jenfan Muswere said the MSMEs graduated in various sectors that include furniture; chemicals and detergents; clothing; services; manufacturing; agro-processing; leather industry; construction; retail; tourism; arts and culture; agriculture and metal fabrication.
“To date a total of 391 Micro, Small and Medium Enterprises (MSMEs) have so far graduated in Harare, Midlands and Manicaland Provinces. The Midlands MSME Graduation Ceremony was held in December 2022 and was officiated by President Mnangagwa with a total of 112 enterprises graduating from one level to another. 71 enterprises graduated from micro to small, 26 from small to medium and 15 from medium to large enterprises. These enterprises had a total annual turnover of US$43 million and were providing employment to a total of 3 063 people.
“The Harare Metropolitan Province saw 166 MSMEs graduating in March 2023. A total of 122 MSMEs graduated from micro to small, 38 from small to medium and 6 from medium to large enterprises. The enterprises had a total annual turnover of over US$35 million and were providing employment to 2 040 people. A total of 17 MSMEs were awarded special awards for exceptional performance,” said Dr Muswere.
He said that the graduation programme was initiated across the country’s ten provinces in order to encourage formalisation within the Small and Medium Enterprises sector and honour enterprises which have grown from one level to another, including those that have graduated to large enterprises.
“The Manicaland Province saw 113 MSMEs graduating with 89 from micro to small, 17 from small to medium and 7 from medium to large scale enterprises. The enterprises were in sectors that include animal husbandry, fisheries, metal fabrication, tourism and hospitality, dairy and timber processing among others. The enterprises had a total annual turnover of US$42 million and provided employment to 2 052 people,” said Dr Muswere.
He said the major outcomes of the graduation programme include the recognition of the role and contribution of MSMEs in the growth of the economy; improved access to markets by MSMEs; and increased MSMEs contribution to fiscal revenue as more enterprises are coming forward to pay taxes.
Cognisant of these achievements, Dr Muswere said the Government will continue to support the programme in order to accelerate the movement of more micro enterprises from informal to formal and enhance productivity and competitiveness in the sector as we demonstrate that Nyika Inovakwa Nevene Vayo/Ilizwe Lakhiwa Nabanikazi Balo.
@nyeve14
