- President Mnangagwa and Cabinet back strategy to formalize informal sector
- Coordination with private sector and development partners to ensure success
By Shyline Majaji
The government has launched a comprehensive National Formalisation Strategy aimed at supporting small and medium enterprises (SMEs) and formalising the informal sector, officials announced during the Ninth Post-Cabinet Press Briefing on Tuesday.
Chaired by His Excellency President Emmerson Mnangagwa, the Cabinet approved the strategy, presented by Vice President Constantino Chiwenga, which seeks to provide workers and businesses with access to social security, labour rights, and financial services.
The initiative addresses longstanding challenges faced by SMEs, including unsafe working conditions, low incomes, limited representation, and barriers to registration and financing.
Simplifying regulatory processes and opening access to credit, the government hopes to create a more enabling environment for entrepreneurship.
The strategy outlines eight strategic priorities, including:
- Alignment of macroeconomic policies to promote employment
- Comprehensive regulatory review to reduce barriers
- Enterprise development programs
- Expanded access to markets and finance
- Strengthening representation of informal and small businesses
- Targeted support for marginalised groups, particularly youth, women, persons with disabilities, and veterans of the liberation struggle
Implementation will be a coordinated effort involving the government, development partners, the private sector, and social security institutions. Progress will be closely monitored through a detailed evaluation framework.
“This strategy represents a significant step toward economic inclusion and the empowerment of Zimbabwe’s SMEs. By formalising businesses and providing access to social and financial protections, we are opening doors for sustainable growth and wider participation in our economy,” Minister of Information, Soda Zhemu, said.
“We are particularly focused on supporting women, youth, persons with disabilities, and veterans of the liberation struggle. These groups have historically faced barriers to entry, and this strategy is designed to level the playing field,” Zhemu said.
“SMEs are the backbone of our economy. By streamlining registration, facilitating access to finance, and creating safer working conditions, we are ensuring that more businesses can grow, employ more people, and contribute meaningfully to national development.
“The government is committed to working hand-in-hand with development partners, the private sector, and social security institutions. Together, we will monitor progress and ensure that the benefits of this strategy reach every corner of Zimbabwe,” Minister said
For comments, Feedback and Opinions do get in touch with our editor on WhatsApp: +44 7949 297606.
