Small and medium-sized enterprises account for 60% of Zimbabwe's GDP

The small and medium-sized enterprise (SMEs) sector remains the main employer in Zimbabwe and accounts for about 60 per cent of the country's gross domestic product (GDP). This was stated by Zimbabwe's Minister of Women Affairs, Community, Small and Medium Enterprises Development Monica Mutsvangwa, as reported by ZBC News, a partner of TV BRICS. 

“In Zimbabwe, the SMEs and MSME sector remains the dominant employer. The SMEs sector contributes around 60 per cent of Gross Domestic Product and employs millions of Zimbabweans," Mutsvangwa stated. According to the minister, women make up the majority of those employed in this sector, accounting for 56 per cent of the workforce.

Mutsvangwa stressed that job creation in the country will depend directly on the growth, structuring and industrialisation of the SME sector. This is necessary to achieve the goals of the Vision 2030 strategy, which envisages Zimbabwe joining the group of countries with above-average income levels.

The government is implementing measures to support entrepreneurs, including infrastructure development and access to retail space. As an example, the minister cited the Mbare Musika fruit and vegetable market in Harare, where entrepreneurs have been given the opportunity to work in safe and regulated conditions. She also noted that similar projects have already been implemented in Chiredzi, and the government is negotiating with local authorities to allocate additional space for small businesses.

Experts emphasised that the course chosen by the government takes into account the labour-intensive nature of small and medium-sized businesses and their ability to adapt to market changes. The special attention paid to female entrepreneurship is in line with the objectives of ensuring gender-inclusive economic growth.