Zimbabwe: The SMEAZ is looking to raise funds to implement an SME development project

Aug 08, 2013

A lack of funds is hampering the progress of a business linkages programme meant to promote higher levels of business between SMEs and large corporations in Zimbabwe, an association has revealed.

A lack of funds is hampering the progress of a business linkages programme meant to promote higher levels of business between SMEs and large corporations in Zimbabwe, an association has revealed.

The Small to Medium-Sized Enterprises Association of Zimbabwe (SMEAZ) has said in a statement published by the Herald that it is struggling to implement the project due to a lack of financial resources.

"We have since secured funding from an NGO to carry out an initial feasibility study and fund a pilot project. The only catch is that we need to raise 25 percent of the initial amount required for that initial feasibility study. The association currently does not have that money, and therefore the project is stalled," SMEAZ said.

This programme has been launched in January this year in a bid to contribute to SME development in Zimbabwe.

Small companies are often struggling to access credit from financial institutions because they are not able to provide the required guaranties.

The programme is looking at increasing cooperation between small businesses and larger corporations in a bid to increase
SMEs'
activities thus improving their
chances of
accessing credit.

The linkages are expected to cover a wide range of areas such as procurement, distribution and sales, contract farming, franchising and leasing, sale of financial services and ICT.ADNFCR-2976-ID-801622362-ADNFCR