ZITF boost for SMEs

Judith Phiri, Business Reporter
AS the Covid-19 pandemic slowed economic activities with some companies forced to retrench workers, Zimbabwe witnessed a boom in small-scale retailers.

The retailers were selling products ranging from clothing, groceries, furniture and electronic gadgets, fruits and vegetables as well as phone accessories. The small-scale retailers dominate the Small to Medium Enterprises (SMEs) and informal businesses, which are pinning their hopes on the 62nd edition of the Zimbabwe International Trade Fair (ZITF) to grow their businesses. ZITF kicks off in Bulawayo on Tuesday.

“The ZITF should be a way of advertising ourselves and what we do so that we can get more customers for the growth of our businesses. We will be eyeing investors or potential partners for our businesses that can assist us with capital and upgrading our machinery so that we boost our production,” said Mr Madodana Mpofu, chairman of SMEs at the OK Mart SMEs complex in Bulawayo.

He said as SMEs under the Bulawayo Chamber of SMEs they were continuously engaging the Government in terms of access to foreign currency to import raw materials and they were hoping to be linked with investors to assist them.

 

Mr Mpofu said funding was a crucial component for SMEs to be able to finance construction of operating buildings or renovations of some of the already existing structures as rates and rentals were exorbitant around the CBD.

Another SMEs in the clothing sector owner, Ms Sibongile Mwale said the ZITF period was a platform to market their products to a wider and diverse populace. She said networking and engagement opportunities at the trade showcase will allow the small businesses to broaden their clientele base not only of locals from other provinces but as well as foreigners attending the ZITF this year.

Bulawayo Chamber of SMEs vice-chairperson, Ms Sithabile Bhebhe said for the next ZITF in 2023 they were going to ensure that more SMEs got exhibition space.

“We will make sure that more SMEs get space to exhibit their products and services at the ZITF next year so that they can also get more visibility and opportunities that can contribute to the growth of their businesses,” said Ms Bhebhe.

 

In terms of engagements, she said they were working tirelessly to formalise most SMEs that were not formalised and making sure that they got all the requisite registration documentations such as tax clearance from the Zimbabwe Revenue Authority (Zimra).

Ms Bhebhe said they were also lobbying for more shelter to accommodate most SMEs that are operating on the streets around the CBD.

Meanwhile, Zimbabwe National Chamber of Commerce (ZNCC) has urged businesses to capitalise on the ZITF for business opportunities.

ZNCC Matabeleland Chapter chairman Mr Mackenzie Dongo said: “This year’s trade showcase being officially opened by Kenyan President Uhuru Kenyatta will strengthen the ties between Zimbabwe and Kenya. As a chamber we expect to realise trade memorandums of understanding (MoUs) and memorandums of agreement (MOAs) being signed by companies from both countries.”

He said they were also expecting to see trade negotiations and bilateral agreements which favour trade and investment from both countries. Mr Dongo said there was a need to create partnerships, synergies or any franchise propositions between stakeholders from both countries with key players from the chamber of commerce and industry of Kenya.

“The Covid-19 pandemic has brought about many challenges to most institutions and a new way of doing business for some. We expect ZITF to be an eye opener as we seek to re-orient ourselves for the new normal that will assist companies to find sound footing on local and global markets. Inflation and local currency instability remains a challenge for most institutions to operate smoothly.”