AN electronic membership platform for small and medium-sized enterprises (SMEs) has been launched to quicken the formalisation of the sector.
The platform was launched on Monday by Masvingo Provincial Affairs and Devolution minister Ezra Chadzamira at the inaugural three-day Zimbabwe Chamber of SMEs Strategic Conference in Chiredzi.
The platform is the culmination of a partnership between Alinial Chartered Accountants and the Chamber of Small and Medium Enterprises.
The platform is expected to capture key membership details for the estimated 4,5 million members of the SME sector in Zimbabwe.
Alinial Chartered Accountants business development director Last Matema said the electronic membership platform would improve SME policy development.
“We have launched a digital platform, where we want all SMEs to come on board. The platform will double as the live national database of SMEs. One of the greatest challenges with the government, with all stakeholders, is information about the SMEs. So, the policies are not targeted because they do not have the information,” he said.
“So, we will be collecting critical information and you will find that we have invited all stakeholders because we also want their input to make this platform functional. We have invited the likes of Zimra [Zimbabwe Revenue Authority], banks, the Office of the President and Cabinet and local authorities, among others, and we know we will make this platform very useful to improve all SMEs.”
Matema said the platform would encompass all the needs of SMEs such as business training, financial reporting training, loan facilitation and linkages to suppliers.
- Need for transparency on The fears of the Hlengwe-Xangani ethnic group commonly referred to as the Chilonga community are not unfounded issue
- Need for transparency on The fears of the Hlengwe-Xangani ethnic group commonly referred to as the Chilonga community are not unfounded issue
- EU project brings relief to Mwenezi cattle farmers
- Mnangagwa loyalists suffer major blow
Keep Reading
“What we are going to do is that, we are going to be guarantors to banks on behalf of the SMEs for them to get loans and it will be easy to make follow-ups on those loans because we will have all the details on the SMEs and it is us who will know how to get that money back,” Matema said.
“This platform will act as an incubator for SMEs. We would know who needs what services, technical business training, loan facilitation, and linkage to suppliers and staff. So, it would be a serious thing.”
He said the platform would also act as a revenue-collection platform which would facilitate payments from the SMEs.
This comes as the Zimbabwe National Chamber of Commerce estimates the informal sector to be valued at US$42 billion.
Meanwhile, research from the central bank estimates the informal sector to be valued at US$8,6 billion, based on an annual estimated revenue generation of US$14,2 billion.
SMEs are a huge untapped revenue source for the government.
Zimbabwe Chamber of SMEs national secretary-general Valencio Kurauone said the platform would capture critical information and data about micro, small-to-medium enterprises to make policy interventions easy.
