SMEs wait for cushion fund

07 May, 2020 - 00:05 0 Views
SMEs wait for cushion fund

The Chronicle

Oliver Kazunga, Senior Business Reporter
SMALL and Medium Enterprises (SMEs) in Bulawayo say they have been hit hard by the adverse impact of Covid-19 and therefore desperately need the cushioning package announced by Government recently.

A total of 1 200 SMEs out of the 2 600 entrepreneurs registered under the Bulawayo Chamber of SMEs have applied for the bailout.

In an interview yesterday, Bulawayo Chamber of SMEs chairman Mr Energy Majazi said none of their members had received the Government bailout.

“Our members are yet to receive the promised bailout and we have been making follow ups with our parent ministry’s provincial offices,” he said.

Zimbabwe went on national lockdown on March 30 as part of emergency measures to curb the spread of Covid-19 pandemic and many businesses were closed except for those offering essential services.

It is against this background that Government has come up with a cushioning package to assist busineeses to recover from the impact of the lockdown.

The cushioning package which is being administered by the Ministry of Public Service, Labour and Social Welfare is meant to provide mainly working capital to SMEs.

Public Service, Labour and Social Welfare Minister Professor Paul Mavima could not be reached for comment yesteday. — @okazunga.

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