President Emmerson Mnangagwa is currently in Gweru where he is officiating at the Small to Medium Enterprises (SMEs) Recognition Awards and Graduation Ceremony.
President Mnangagwa, who is expected to address exhibitors later on, is currently touring SME stands, and he is accompanied by Ministers Larry Mavima and Sthembiso Nyoni.
Apparently, SMEs play a major role in the economy given that they account for the majority of businesses worldwide and are important contributors to job creation and global economic development.
They represent about 90% of businesses and more than 50% of employment worldwide.
Meanwhile, according to the World Bank (WB) formal SMEs contribute up to 40% of national income (GDP) in emerging economies.
These numbers are significantly higher when informal SMEs are included.
The WB says 600 million jobs will be needed by 2030 to absorb the growing global workforce, which makes SME development a high priority for many governments around the world.
-Zwnews
