Time to ‘reignite’ SME development, says Zim governor

Mangudya outlines strategy aimed at boosting financing for the “crucial” small and medium-sized enterprise sector

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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