100 Indian SMEs eye partnership with locals

THE Zimbabwe Chamber of SMEs is close to sealing a landmark partnership agreement with the World Association for Small and Medium Enterprises (WSME) that is expected to open new avenues for growth and expansion.

This comes as the sector continues to consolidate its position as one of the key anchors of the country’s economic growth in line with Vision 2030.

The development has already seen nearly 100 SMEs from India expressing readiness to collaborate with their Zimbabwean counterparts in a move that will create opportunities for locals to participate in trade fairs in the Asian economic giant where the SME sector is a major pillar of the national economy.

Zimbabwe Chamber of SMEs national secretary Mr Venancio Kurauone yesterday revealed that plans to ink a partnership between his organisation and WSME were advanced.

Mr Kurauone said the partnership adds impetus to ongoing efforts to position the local SME sector as a pillar of the Zimbabwe economy, especially with its contribution to the Gross Domestic Product billed to surpass US$10 billion before 2030.

‘’We are happy that WSME has already invited Zimbabwean MSMEs to participate in international trade fairs held in India. This presents a unique opportunity for local businesses to showcase their products and services to a wider audience, explore new markets, and forge valuable connections with potential customers and investors. This partnership with WASME is a significant development for Zimbabwean MSMEs,” said Mr Kurauone.

“It provides them with the tools and access they need to compete on a global stage and contribute meaningfully to our national economic development goals.”

According to Ms Archana Sharma, the WASME director responsible for planning and development, her organisation will soon sign a Memorandum of Understanding with the Zimbabwe Chamber of SMEs.

She disclosed that Indian SMEs were ready to collaborate with their counterparts from Zimbabwe.

‘’About 99 leading Indian MSMEs have shown their interest in jointly setting up the enterprises with local MSMEs in your country. However, as per their mutual interest they can initially begin with dealers and distributorship and eventually start manufacturing the products in Zimbabwe. This technical and financial collaboration will be a great opportunity for your local MSMEs to upscale their production and manufacturing techniques by leveraging on world class latest technology, skills, resources and products provided by the Indian MSMEs leading to employment generation and growth in economic development of your country,’’ she said.