SMES FUND WILL DRIVE ECONOMIC DEVELOPMENT

SMES FUND WILL DRIVE ECONOMIC DEVELOPMENT

By Tendai Moyo

Youth and women in the Small to Medium Enterprises industry are set to benefit from a fund meant to cushion and boost their businesses.

This was revealed by President and First Secretary of ZANU PF Cde E.D Mnangagwa during a Political Actors Dialogue meeting held in Harare.

"Small and Medium Enterprises will play a key role in development and servicing of a thriving development economic zone. Cognizant of the role played by small and medium enterprises and the need to stimulate long term economic growth and higher levels of productivity, the government established a ZW$500 million National Venture Capital Fund," President Mnangagwa said.

"The Fund aims to encourage sound entrepreneurship and innovation by Small to Medium Enterprises and help start up business as to grow.

"The fund will support all commercially viable projects across all economic sectors based on the following attributes: job creation, import substitution, forex generation and export growth, promotion of women and youth entrepreurship and the promotion of investments and projects outside big cities."

Many economies that have supported SMEs have reaped huge benefits from it through their immense contribution to economic growth.

SMEs in other countries contribute significantly to the economic growth of their country.

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