President Mnangagwa Positions MSMEs as Engine of Vision 2030 Economy

By Southerton Business Times | Harare

President Emmerson Mnangagwa has reaffirmed that Micro, Small and Medium Enterprises (MSMEs) and cooperatives will play a central role in Zimbabwe's drive to attain upper-middle-income status by 2030, describing the sector as one of the country's most important pillars of economic growth.

Officially opening the inaugural National MSMEs and Cooperatives Indaba in Harare, the President said the sector contributes more than 60 percent of Zimbabwe's Gross Domestic Product (GDP) while providing employment and livelihoods for millions of people across the country.

He challenged entrepreneurs to embrace innovation, industrialisation and technology-driven business models to improve productivity and compete in regional and international markets.

"MSMEs and cooperatives remain at the heart of Zimbabwe's economic transformation and are key to achieving Vision 2030," President Mnangagwa said.

The President urged entrepreneurs to move beyond traditional trading activities by investing in value addition, beneficiation, manufacturing and export-oriented production. He encouraged businesses to leverage digital technologies and innovation to improve competitiveness while taking advantage of opportunities presented by the African Continental Free Trade Area (AfCFTA), which provides access to a market of more than 1.4 billion people across Africa. The Head of State said Zimbabwean enterprises should position themselves to supply regional value chains and expand their presence in continental markets.

President Mnangagwa outlined a broad Government strategy aimed at strengthening the MSME ecosystem through improved access to affordable finance, infrastructure development, regulatory reforms and entrepreneurship support. Among the initiatives highlighted were:

• Increased access to affordable financing for small businesses.

• Recapitalisation of empowerment institutions.

• Establishment of the National Industrialisation Fund.

• Development of the Zimbabwe Entrepreneurship Exchange.

• Modernisation of market infrastructure for informal traders.

• Expansion of digital technologies and skills development programmes.

• Implementation of the National Cooperatives Development Policy.

The President said these interventions are designed to accelerate business growth, promote formalisation and improve the competitiveness of Zimbabwean enterprises.

Mnangagwa reiterated his administration's commitment to creating an enabling environment for entrepreneurship, saying Government reforms are intended to help businesses transition from informal micro-enterprises into sustainable medium and large-scale companies. He urged entrepreneurs to embrace resilience, innovation and productivity as drivers of long-term success.

"Our prosperity will be built by Zimbabweans themselves through hard work, innovation and enterprise," he said.

The inaugural National MSMEs and Cooperatives Indaba brought together government officials, entrepreneurs, financial institutions, development partners and cooperative leaders to discuss strategies for expanding the sector's contribution to economic development. The MSME sector remains one of Zimbabwe's largest employers, particularly in retail, manufacturing, agriculture, mining, services and transport, and is viewed by Government as critical to achieving the objectives of the National Development Strategy 1 (NDS1) and Vision 2030.

President Emmerson Mnangagwa