ZCSMEs and IAPAZ call for immediate action and long-term solutions for MSMEs – Newsday Zimbabwe

The fire that broke out on Tuesday left many small business owners with complete destruction of their goods and goods.

The Zimbabwe Chamber of SMEs (ZCSMEs) and the Indigenous Advisory Practitioners Association of Zimbabwe (IAPAZ) have expressed their deepest condolences to Micro, Small and Medium Enterprises (MSMEs) following a devastating fire that hit the Mbare informal market. who lost their livestock and their livelihoods in the flames.

The fire that broke out on Tuesday left many small business owners with complete destruction of their goods and goods.

“This tragic event is a wake-up call,” said Venencio Kurauone, Secretary General of the Zimbabwe Chamber of SMEs.

“While this fire is devastating, it highlights the broader risks MSMEs face on a daily basis, including death, illness, theft and natural disasters. As a chamber, we are actively engaging stakeholders to accelerate our ongoing efforts to formalize MSMEs with a focus on creating security, decent jobs and building partnerships with large companies in the insurance value chain.”

Kurauone highlighted the Chamber’s ongoing work to support MSMEs in mitigating such risks.

“We recently partnered with Generation Health to offer affordable, customized health insurance products to MSMEs. Today it is fireworks, but the challenges go far beyond that and we need stronger systems.” The Chamber is calling on development partners, the Harare City Council and large companies to work together to help affected MSMEs replenish their goods and secure, to ensure reliable jobs.

Kurauone added: “This incident reminds us why formalization is so important. A structured business environment, supported by insurance and disaster preparedness, is key to protecting the livelihoods of MSMEs.”

The Chamber, in collaboration with IAPAZ, is already advancing its formalization initiative of 5 million MSMEs by 2030.

Nyasha Gonese, President of IAPAZ and official advisor to the Chamber, commented on the incident.

“While we express our deep sympathy for the affected retailers, this event highlights the need for swift action.”

“IAPAZ is working with the Chamber to advance formalization, including building disaster resilience for MSMEs. Whether it’s fire, theft or illness, MSMEs need protection systems to ensure business continuity.”

“Through these efforts, we aim to strengthen connections between various stakeholders and ensure that MSMEs not only recover from crises like this fire but also develop sustainable business models,” he said.

Gonese further noted that the operationalization of the African Continental Free Trade Area (AfCFTA) offers even greater opportunities for MSMEs, but only if they are formalized and equipped with the right tools to manage risks.

“The call for formalization is getting louder as AfCFTA becomes a reality. We need to ensure that MSMEs are well prepared and that starts with formalizing their operations.”

IAPAZ and the Chamber host monthly SME networking breakfasts in collaboration with Rural District Councils (RDCs), a platform to promote collaboration between RDCs, MSMEs and large companies.

In the short term, both the Chamber and IAPAZ encourage those involved to come together for immediate relief efforts. Providing financial support to replenish inventories, rebuild market infrastructure and secure temporary spaces for affected businesses is crucial.

However, the long-term strategy is to create sustainable safety nets for MSMEs, including improved fire safety measures, business insurance plans and disaster preparedness.

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