Cabinet approves $2m SMEs facility

CABINET has approved a $2 million facility to capacitate small to medium enterprises (SMEs) through linkages with bigger businesses, Women’s Affairs, Community, Small to Medium Enterprises Development Minister, Sithembiso Nyoni, has said.

She told scores of representatives of cooperatives, small businesses, women and youth at a business linkages meeting organised by the ministry in Lupane last Thursday that the money was readily available. Minister Nyoni said the fund was part of her ministry’s 100-day programme to deliver on community projects in line with vision 2030.

She said at least 100 SMEs countrywide, making 10 per province were earmarked to access the fund if they establish linkages with bigger businesses and submit proposals to Government.

“I bring you a new message from the new dispensation where the President is working on 100-day chunks, which businesses and companies should participate in. If you are not impacted in any way by the 100 days, then you are outside the country’s vision,” said Minister Nyoni.

“The idea is that you bring your small businesses or go and identify community projects and have linkages with bigger companies or businesses. All ministries must deliver and my ministry’s focus is on people driven community development projects.”

Minister Nyoni said under the new dispensation, all Government departments and officers will be evaluated based on 100-day projects. She said Matabeleland North was the first to benefit from the facility as she has embarked on a countrywide tour of provinces meeting SMEs.

“All projects that are put on 100-day programme will be funded. We need to leave the mentality of being beggars and think business because we have a $2 million fund that is ready for access to fund SMEs so they are capacitated to supply the market.

“We want to grow 100 SMEs in 100 days and the funding has been approved by Cabinet. All you need to do is start a business linkage programme because research has shown that no SME can grow in silo,” added Minister Nyoni.

Participants at the meeting appealed to Government to review the Public Procurement Act saying the demand for some compliance terms by bidders was unattainable for SMEs, to which the Minister said the SMEs Act provides for a 25 percent quota for them.

Minister of State for Matabeleland North Provincial Affairs Richard Moyo, who was represented by a deputy director in his office, Mr Tapera Mugoriya, challenged all Government officers and SMEs to acquaint themselves with vision 2030 so as to grow the economy.

“All women should be ready to engage in business opportunities and participate in all sectors of the economy. Devolution has come and as women we should be involved in growing the country’s GDP,” he said.

Acting Matabeleland North Provincial Administrator Mrs Ennerty Sithole challenged SMEs to identify and make maximum use of locally available resources. — @ncubeleon