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Zimbabwe to seek India investors

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SMALL and Medium Enterprises and Cooperation Development minister Sithembiso Nyoni will this month lead a business delegation to India to look for potential investors. Speaking at a Press briefing in Harare yesterday, Nyoni said the delegation would be in India between March 8 and 13.

Tarisai Mandizha
Business Reporter

“I am leading a delegation to India. Going to India is not only to buy goods, but also to look for potential business partners in India,” she said.

“We have some who have already connected with some Indian investors who want to partner in production of cooking oil and fabrics.”

She said this partnership for cooking oil production and fabric should not be exported to India, but production would be done in Zimbabwe and SMEs will be going to India to conclude on their partnership. She, however, said the ministry will be rolling out the SMEs Act this month to each province in Zimbabwe to educate SMEs on the benefits derived from the law.

“The SMEs Act which has been on the cards for a long time has gone through Cabinet and Parliament. It was gazetted on December 23rd and President Robert Mugabe assented to it,” she said.

“We are rolling it out to the SMEs and we will be going province by province meeting with the SMEs, explaining the Act and how they can benefit from it.”

Nyoni said SMEs should take this initiative seriously as they are the engines of economic growth and to overcome poverty in Zimbabwe. I want every SME to know there is a SMEs Act which directs them, supports them and also governs them,” Nyoni said.

She said the SMEs Act provides for the establishment of various schemes and training.

“The SMEs Act insures that we tender out control to supply the State for not less than 25% of value of goods and services to be given to SMEs.

“SMEs now have to be very alert. SMEs should stand up and claim their position of 25% on procurements of goods,” she added.

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