Time to ‘reignite’ SME development, says Zim governor
Mangudya notes importance of SMEs but acknowledges access to banking sector is currently poor
The governor of the Reserve Bank of Zimbabwe has said there is a need to “reignite” small and medium-sized enterprise development given its importance as a source of income for the African nation.
Speaking on July 5, John Mangudya said the SME sector played a “critical role” in fostering job creation while contributing more than 60% of Zimbabwe’s GDP. At the same time, only 14% of SMEs are banked – and 43% do not have access to any financial services.
“As of March 31, a total of $135.83
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