Staff Writer 
THE inaugural micro, small, and medium enterprises (MSMEs) survey and awards ceremony, slated for next week, is set to uncover crucial data from the burgeoning sector, highlighting its complex array of operational challenges and opportunities.
Small and Medium Enterprises Development minister, Monica Mutsvangwa, is expected to headline the event, which is set to unearth rich insights from this burgeoning sector, facing a plethora of operational challenges and opportunities.
The project is being spearheaded by The Financial Gazette and the Small and Medium Enterprise Development Corporation (SMEDCO), while Consumer Feedback Consultancy conducted nationwide research to feed into the report and the awards for top performers.
The event, described by organisers as a milestone for Zimbabwe’s entrepreneurial ecosystem, will bring together business leaders, policy makers, financiers, and SME beneficiaries from across the nation.
“The ceremony will mark the culmination of months of research and outreach intended to identify outstanding SMEs and to gather critical data on the sector’s challenges, opportunities, and needs. We are happy to play our part in this important project for the nation,” Jester Media Services group chief commercial officer, Lewis Chikurunhe, said.
SMEDCO chief executive Obert Ngwenya underscored the importance of data-driven decision-making in economic development.
“The MSMEs are the backbone of the country’s economy, contributing significantly to employment creation, innovation, and socio-economic development… To that end, it is only prudent for the corporation to notice and acknowledge the achievements and milestones being registered in the MSME sector,” Ngwenya said.
“The survey and awards will enable the corporation, stakeholders and related interested partners to obtain rich insights into the MSME sector, enhanced visibility of its contribution and strengthened partnerships. It also seeks to motivate and recognise MSME excellence as well as providing policy recommendations for sector development.”
The growth of the sector has been impeded by lack of access to cheaper capital, formalisation bottlenecks, high taxation, inadequate working spaces and infrastructure challenges, among others.
To celebrate the achievements of this sector, there will be 10 categories and three respective winners for each category, with platinum, diamond and gold winners for each award following adjudication.
The award categories will include environmental compliance, social impact and responsibility, governance practices, food security, infrastructure, housing/commercial, digital and innovation category, medical and healthcare, export and cross-border trade, inclusivity (gender/disability/youth) and community development.
The MSMEs sector has grown to become the biggest contributor to Zimbabwe’s approximately US$44 billion GDP, with experts arguing its contribution could be larger due to a lack of tangible data to sum up its actual output.
As such, this inaugural survey into the sector will inform government policies, financial institutions, and development agencies, enabling targeted support for MSMEs.
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