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Sikhulekelani Moyo, Business Reporter
GOVERNMENT has begun a consultative process with key stakeholders leading to the formulation of a comprehensive Small to Medium Enterprises (SMEs) Formalisation Strategy.

Under the National Development Strategy 1 (NDS1), the blue-print that guides the country’s development between 2021 to 2025, unlocking the potential of SMEs is one of the critical steps towards fostering inclusive economic transformation.

SMEs have become dominant economic players in Zimbabwe but a majority of them still operate informally. It is for this reason that the Government has sought to prioritise the development of SMEs and facilitating their formalisation.

This would be achieved partly through provision of decent workplaces, facilitating access to finance, skills training and information sharing, among others.

The interventions, which are coordinated by the Ministry of Women Affairs, Community, Small and Medium Enterprises Development, are expected to increase both incomes and productivity of the informal sector workers.

“The Government of Zimbabwe through the Ministry of Women Affairs, Community, Small and Medium Enterprise will be conducting public consultative meetings with all stakeholders in the informal sector on the development of the formalisation strategy and the consultations will be held in all provinces from 22 to 26 November 2021,” reads the ministry statement shared with different stakeholders.

Government says it is committed to the effective promotion and protection of human rights and providing decent workplaces to all those operating in the informal sector.

“It is with this view that the Government has committed itself to facilitate the transition of the informal sector to the formal economy.”

The consultative processes began yesterday in Gutu in Masvingo province and Hwange in Matabeleland North.

Today the teams will be in Masvingo Central followed by Lupane tomorrow and Bulawayo on Thursday.

Nyanga in Manicaland and Plumtree in Matabeleland South will be covered on Friday. Input from these platforms will be used to guide the formalisation process.

The formalisation drive also speaks to the broader ideals of building a prosperous and empowered upper-middle income society by 2030, with small businesses contributing to the growth of the economy through paying taxes and increasing exports. — @SikhulekelaniM1