By Tendai Matunhu
Financial Securities Exchange Limited, C-TRADE mobile in partnership with United Nations Capital Development Fund (UNCDF) and Insulation Expo USA (IEXUSA), has launched the Ministry of Small and Medium Enterprises (MSME) Exchange Listing Platform.
Addressing delegates at the launch, Finance and Economic Development Minister, Mthuli Ncube said, "Zimbabwe has over 3 million SMEs of which only 15% are registered, however these SMEs have several challenges. This innovation is designed to specifically deal with this challenge.”
Minister Ncube went on to encourage the youth to participate in SME programmes to create a better future.
“Let’s ensure that there is a fair amount of participation by the youth, the youth element is very critical. Let us look beyond what is available today, let us focus on creating the future that we want. This event is a culmination of relentless work by a number of participants. What we are witnessing today is a direct response to the government’s call for the participation of SMEs," he said.
Speaking at the same event, Minister of Women Affairs, Community, Small and Medium Enterprises Development, Sithembiso Nyoni said, "This innovation will be combining advisory and funding services to clients to increase the contributions SMEs can make to the economy. In emerging markets, most formal jobs are created by SMEs, however access to sustainable capital is a major constraint to SME growth.”
Minister Nyoni went on to say, "This initiative will indeed succeed because the SMEs are educated and ready to engage. I assure you of my Ministry’s full support of this innovation. It is crucial that we all come together and pull our various expertise into capacitating players in this critical sector."
She also said, "There is indisputable evidence that most if not all economies are anchored on the robust coordinated and well supported SME sector."
Escrow Consulting Group Chief Executive Officer (CEO), Colleen Tapfumaneyi went on to say that the platform is a simplified yet sophisticated platform saying they use quantitative efforts, and qualitative efforts to engage the capabilities of these MSMEs.
Securities and Exchange Commission of Zimbabwe (SECZIM) CEO Tafadzwa Chinamo also spoke at the event saying it is a first of its kind across the world. He said as a regulator, they protected the investor, but in this case the investee also needs protection.
