The anticipated passing into law of the Small to Medium Scale Enterprises Bill is expected to pave way for infrastructure development for SMEs which is crucial for the growth of the sector.
For years, SMEs have been marginalised from the mainstream economy thus failing to take off.
However, the expected passing into law of an SMEs bill during the current session of the seventh parliament is excepted to usher in growth for the sector through provisions for capital financing, infrastructure development and sector specific policies.
Speaking during a tour of the Gulf Complex in downtown Harare, Small and Medium Enterprises and Co-operative Development Minister, Cde Sithembiso Nyoni expressed optimism that when the SME bill becomes law it will enable the Ministry to roll out infrastructure development programmes to boost the sectors operations.
The bill has sailed through the first and second reading in the house of assembly.
In line with its infrastructure development programme, the Ministry of SMEs is already assessing the operational challenges of SMEs in the provinces to come up with a scheme which will alleviate the challenges.
Local authorities and the business sector will also be roped in as partners in the infrastructure development programme.
The informal sector is considered the unofficial backbone of the economy due to the high number of people who depend on it since illegal sanctions imposed on the country have wrecked havoc on formal employment.Â