Revolutionising Zim economy: Boost for women and y...

Revolutionising Zim economy: Boost for women and youth in trade sectors

**Women Affairs, Community Small and Medium Enterprises Development Minister, Monica Mutsvangwa**

Michael Mashiri

The government will ensure there’s an enabling business and trade environment that will help in wealth creation by women and the youth, Minister of Women Affairs, Community Small and Medium Enterprises Development, Monica Mutsvangwa has said.

In her address at the Open Market Day and Exhibition, Mutsvangwa said the event was an important opportunity for Zimbabwean women to show up and be counted, for them to show their skill, innovation and unparalleled business intelligence at the regional and global levels.

The event was running under the theme, “Leaving no one and no place behind”.

“The Open Market Day is going to position women to benefit from available opportunities in-country, within the region and at global level and this event will consolidate efforts to empowering women in business,” she said.

She highlighted that women played a crucial part in national development as evidenced by their huge presence in business.

“Our population is made up of 52% women who play multiple roles in the economy of Zimbabwe as traders, workers, producers, caregivers and taxpayers.

“There are 3.4 million MSMES in Zimbabwe and 56% of them are women. You are aware that MSMES are the engine of growth in Zimbabwe and they contribute over 60% to GDP,” she said.

She added that, women owned MSMES were, however largely informal and they were going push for their formality and make them competitive in light of the African Continental Free Trade Area.

Zimbabwe is one of the first countries to ratify the African Continental Free Trade Area.

Mutsvangwa said AfCFTA, had many trade opportunities for women they would benefit from explore if they explored them.

“I also note how the Organisation of Women in International Trade -Zimbabwe Chapter spearheaded the sensitisation of the AfCFTA amongst its members and continues the call through interventions such as the Open Market Day we have today,” she added.

The Minister also expressed her desire in seeing women being gainfully employed, empowered and enabled to participate freely and effectively in the development process, in line with the Ministry's mandate, NDS 1 and Vision 2030.

“One of the most effective initiatives to empower women is the establishment of the Women Development Fund and the Zimbabwe Community Development Fund. Both are Loan Schemes that provide affordable loans to groups of women in the case of Women Development Fund, and to women and men in the case of the Zimbabwe Community Development Fund, without collateral security,” she said.

The open market day was designed to be a platform where women from in trade get good opportunity to network, share experiences, and exchange ideas on how to move ahead in business and be export competitive.