Story by Farirai Mutumburanzou
The Minister of Women Affairs, Small and Medium Enterprises Development Hon Monica Mutsvangwa has said SMEs are the pulse of this economy as they employ more than 3.4 million people in the country.
She said this at the launch of the Small Medium Enterprises and Insurance products in partnership with the Champions Insurance company recently at Chishawasha grounds in Mbare.
Hon Mutsvangwa in a statement said they are supporting the growth of SMEs and they have collaborated with Champions Insurance to assist the SMEs to get affordable insurance.
“As you are aware, we are the Ministry which is responsible for supporting the growth of SMEs.
“We have elaborated with the private sector company called Champions Insurance; this is to help our SMEs because we have realised the challenges they go through.
“So many times we have heard that fire has destroyed businesses at Magaba, Glen view and we are very much concerned about it and we want to ensure a safe workspace for them,” she said.
Hon Mutsvangwa highlighted that SMEs have a history of not taking insurance policies seriously.
However, with Champions Insurance, small business can pay 5usd a month and can be insured.
“Traditionally our small businesses have not been really taking insurance seriously.
“We have come into a collaboration with Champions Insurance, and they came to us because they are seeing the work we are doing.
“So today we are happy, and this shows financial inclusion and showing that noone is more important, as a Ministry we want to support them,” she said.
‘Bata Chamu’, a chatbox which has since been introduced by Champion Insurance is a 24-hour self-service platform where clients can access the system anytime and pay for their insurances.
“The good thing about this product is it is affordable, and it actually promotes financial protection. SMEs are the pulse of this economy, they employ more than 3.4 million people in the country,” Hon Mutsvangwa said.
Meanwhile, Mr Obert Ngwenya the CEO of SMEDCO said, “We have got a a mandate to promote the development of SMEs in the country by providing affordable loans, providing workspaces for small businesses,” he said.
The Ministry of Women’s Affairs, Small and Medium Enterprises Development is working with Women’s Bank, MicroFinance Bank and SMEDCO in ensuring that every small business is incorporated in the development of the economy of Zimbabwe and have access to loans to grow their businesses.
Story by Farirai Mutumburanzou
