Minister: Zimbabwe hosts 3.6 million small enterprises that bring in more than $8.6 billion annually
Abu Dhabi, 7 May / WAM / Her Excellency Monica Mutsvangwa, Minister of Women, Community and Small Enterprise Affairs of the Republic of Zimbabwe, stressed the importance of enhancing investments in emerging and medium-sized companies, explaining that these companies play a leading role in driving economic growth in the country as they are an effective contributor to the gross domestic product. Total for Zimbabwe.
She added in statements to the Emirates News Agency, WAM, on the sidelines of the launch of the AIM Investment Summit today in Abu Dhabi, that Zimbabwe embraces more than 3.6 million small and medium enterprises working in various fields such as mining, agriculture and gold, explaining that these institutions bring in more than 8.6 billion dollars. Annually for a small country like Zimbabwe.
Her Excellency confirmed that women represent about 56% of these institutions and projects, explaining that this reflects the extent of the importance that Zimbabwean women have in empowering them in various sectors.
She said that 90% of Zimbabwe’s population are entrepreneurs, emphasizing their role in supporting these small and medium-sized companies as they contribute to enhancing the country’s investments, which benefits Zimbabwe’s gross domestic product and creates quality job opportunities for young people, explaining that about 4.7 million Zimbabweans are currently working. In these institutions.
She added in this context: “When we talk about how much they bring… Zimbabwe is proud to have the best gold mines in the world, and we export a lot of them, even to the UAE, and these small and medium-sized companies bring more than 60% of what we produce in our country, and we confirm However, supporting our small and medium enterprises in the field of gold mining will make Zimbabwe a greater country in this sector.”
Regarding participation in the AIM Investment Summit, Her Excellency said that the summit is the appropriate place to achieve cooperation and partnerships that will contribute significantly to accelerating the wheel of development in the country, and she expressed their aspiration to meet more companies specialized in innovation as it is the catalyst for increasing industrialization.
She said that the UAE is Zimbabwe’s second largest trading partner after South Africa, which reflects the strength of bilateral relations between the two countries, pointing out that Zimbabwe is always keen to be present in these global events held by the country to benefit from its experiences and exchange ideas to achieve a more successful partnership.
In this context, she pointed out that Zimbabwe embraces more than 28 Emirati companies investing in various sectors in the country, as Her Excellency called on Emirati and international companies to invest more in Zimbabwe and benefit from existing resources.
Her Excellency explained that Zimbabwean companies are expanding in the UAE market by exporting many horticultural products, gold and diamonds.
She said: Zimbabwe aims to enhance investments in agricultural infrastructure, as last year it lost about 80% of its agricultural crops due to the severe drought it was exposed to caused by the El Nino phenomenon, stressing that Zimbabwe is making more efforts to increase irrigation area, as it explained that the crops that It was grown under irrigation, was not affected by the phenomenon, and produced positive yields.
She expressed their aspiration to train more businessmen and youth, as well as women, in the field of information and communications technology and smart cities, saying: “Artificial intelligence is the path we must take, and we want our women and small and medium-sized companies to move towards this direction as well.”
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