‘Invest in agric co-operatives’
Friday, 19 October 2012 00:00
Herald reporter
THE Government has urged smallholder farmers to join savings and credit co-operatives and village banks to assist themselves in raising working capital. Speaking at the World Food Day commemorations in Chivhu on Wednesday, Small and Medium Enterprises and Co-operative Development
Minister Sithembiso Nyoni castigated farmers who squander profits without any savings. “Savings and credit co-operatives help the farmer to easily access inputs, provide loans to fund their farm production. The co-operatives also assist them in identifying markets,” said Minister Nyoni.
Deputy Minister of Agriculture, Mechanisation and Irrigation Development Mr Seiso Moyo also emphasised the need to invest in agricultural co-operatives to mitigate hunger, malnutrition and provide the needed extra food.
“It has become imperative that farming be recognised as a legitimate entrepreneurial line of business to promote food security in the country and the world over,” said Mr Moyo.
The event was hosted by the Food and Agriculture Organisation and farmers received prizes for excelling in the various farming disciplines.
Mr Nyararai and Mrs Sibusisiwe Madyangove of Nharira Dairy Co-operative scooped the dairy farmers of the year prize.
A total of 28 farmers were judged in 12 areas with the judges prioritising herd health records, calf management, milk hygiene and cattle handling facilities.
Also in attendance was World Food Programme country director Mr Felix Bamezon, who applauded Government for implementing seasonal targeted assistance to boost nutrition. FAO director Gaoja Han said his organisation would support co-operatives to enhance food security.
Labels: COOPERATIVES, SITHEMBISO NYONI
Read more...
Zim ready for SMEs stock exchange
Friday, 30 December 2011 00:00
Conditions in Zimbabwe are now ripe for setting up a stock exchange for Small and Medium Enterprises (SMEs) since they are major players in economic development, a Cabinet minister has said. Calls to set up an SMEs stock exchange have been growing since the adoption of multiple foreign currencies and formation of the inclusive Government in 2009. Before that, economists had advised against setting up of the bourse arguing that the Zimbabwe Stock Exchange was facing liquidity challenges.
Recently, economic analysts have indicated that an SMEs stock exchange would strengthen the economy as the country has few formal jobs due to lack of capital to resuscitate local industries which were crippled by sanctions that Western countries imposed.
Small and Medium Enterprises and Co-operative Development Minister Sithembiso Nyoni said SMEs make up 60 percent of the Zimbabwean population thus it was prudent to establish a stock exchange for them.
"We are ready for an SMEs stock exchange but the process is taking too long and further suppressing the growth of the sector," she said.
Minister Nyoni said the economy was growing as a result of the contribution of SMEs.
She said her ministry had entered into partnerships with some private players to fund SMEs projects and enhance skills requisite in the informal trade and manufacturing. Zimbabwe plans to set up a second bourse by 2013, mainly for SMEs.
The bourse is expected to position SMEs well on the local and international market due to regulated marketing and free publicity. - New Ziana.
Labels: SITHEMBISO NYONI, SMEs, STOCKMARKETS
Read more...
Allocate working space to SMEs — Nyoni
By Flaxon Jaha and Dannie Simango
LOCAL authorities have been urged to consider the allocation of working space to small to medium enterprises to enable them to set up factories and expand their operations.
The call was made by Small to Medium Enterprises Minister Sithembiso Nyoni in a speech read on her behalf by her permanent secretary, Mrs Evelyn Ndlovu during the official opening of a new factory belonging to Navidale Textile in Graniteside last Friday.
"The shortage of appropriate and affordable work space is one of the major challenges affecting the development and growth of SMEs throughout the country.
"I would like to encourage local authorities to allocate working space to SMEs so that they can develop their own factories like the one we are witnessing today," she said.
Minister Nyoni also appealed to local financial institutions to enter into synergies with SMEs in order to promote their growth.
"It is important to note the shortage of funds for working capital and purchase of equipment and machinery as one of the major challenges affecting the development and growth of SMEs," she said.
She commended CBZ which assisted Navidale to set up its first factory in Msasa for the relations that it had developed with the company and implored other banks to follow suit.
Minister Nyoni said it was pleasing to note that women were increasingly taking a leading role in the economic development of the country.
"Let me assure you that the Government is fully behind the empowerment of women, as they constitute 52 percent of the population.
"I would like to take this opportunity to encourage Navidale and other SMEs who are in manufacturing, to venture into export markets to enable them to meaningfully contribute to the generation of foreign currency," she said.
Navidale textile factory, which is owned by Mrs Mary Madzima, has eight heavy-duty computerised knitting machines with a capacity to manufacture 1 440 jerseys per day.
The factory will manufacture jerseys for different companies in the corporate world, security companies and the army and school jerseys.
The machines which were sourced from Protti in Italy at a cost of US$200 000 were bought using facilities availed by CBZ and Textilaties of South Africa, with which Navidale has a 15-year-old relationship
Speaking at the same occasion Local Government, Rural and Urban Planning Minister, Ignatius Chombo hailed the investment made by Navidale as historic.
"This development is remarkable because the building that we are standing on belongs to a remarkable women," he said.
Mrs Madzima chronicled her business journey from humble beginnings when she used to knit from the backyard of her yard in 1995 and later moved to premises in Msasa.
She then persuaded her husband to put up title deeds for their house for them to obtain two machines from Helvey Knitwear. She also opened an account with CBZ, which availed her money to buy more machines in South Africa.
The purchase of machines in South Africa was to be the beginning of the partnership with Textilaties and the owner Mr Duncan Johnson. Mrs Madzima is an accountant by profession.
Labels: EVELYN NDLOVU, LOCAL GOVERNMENT, SITHEMBISO NYONI, SMEs
Read more...
