Staff Writer
A total of 99 leading Indian SMEs are seeking joint ventures and partnerships with local SMEs, Chairperson Bulawayo Chamber of SMEs, Mr Coustine Ngwenya has said.
Speaking at inaugural ZB Financial Holdings SME Expo recently, Mr Ngwenya said the UN Women and ILO were currently supporting the Bulawayo Chamber of SMEs.
“As we speak the Chamber is setting up a facility for women in textiles and clothing called Maker Space. The Maker Space will house state of the art textile and clothing machinery.
“These collaborations will provide our members with access to expertise, best practices, and potential international market opportunities,” he said.
“Beyond international partnerships, we are building strong local alliances with local authority (BCC), private companies in construction, insurance, banks, and other financial institutions, both locally and abroad. We would want to applaud BCC for creating a MSMEs unit and we implore council to ensure that this unit develops into a fully-fledged department in the near future.”
He said the chamber established a dynamic electronic platform that served as a live national SME database.
The platform provides valuable services and resources to our members.
“The data collected through our database presents a unique opportunity for ZB Bank. By collaborating with ZCSMEs, ZB Bank can gain valuable insights into the needs and challenges faced by SMEs.
“This data can be used to develop innovative financial products and services that directly address the pain points of SMEs, including access to cheaper credit, social protection programs, decent workspace solutions, business training, and wider market access through business linkages,” Mr Ngwenya said.
He implored ZB bank to develop more social protection and pension-oriented products that could assist members at retirement stage or during other needs.
“We urge ZB Bank to continue developing innovative products tailored to the specific needs of SMEs. As SMEs there is urgent need to formalize our businesses. There is need to register our organizations with the Deeds and Companies office, ZIMRA, PRAZ, NSSA, and Bulawayo City Council,” he said.
ZB Financial Holdings Limited Non-Executive Director, Tenjiwe Sibanda said SMEs were the backbone of the economy, driving innovation, job creation, and economic progress.
“At ZB, we recognize the critical role you play and are dedicated to empowering you with the necessary tools and resources to succeed.
“In line with our vision to improve lives through service, our aim is to equip SMEs with financial literacy, funding options, and account opening opportunities,” Sibanda said.
The Expo offers unique platform for networking and exchanging business ideas, allowing members to showcase products and services to a wider audience. It was to foster collaboration, learning, and growth.
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