Bulawayo, Zimbabwe – 11 July 2025… The People’s Own Savings Bank (POSB) will today host a Small and Medium Enterprises (SMEs) Seminar at Cresta Churchill Hotel in Bulawayo. This event, themed “Driving Inclusive Growth: Unlocking SMEs’ Potential,” underscores POSB’s unwavering commitment to empowering Zimbabwe’s SMEs, which are widely acknowledged as the backbone and lifeblood of the nation’s economy.
Following the success of the Exporters’ Seminar held by the Bank in Harare on 30 May 2025, POSB continues its commitment to supporting economic development by turning its focus to SMEs which are recognised as the backbone and lifeblood of Zimbabwe’s economy. Participants who attended the exporters seminar emphasised the need for dedicated platforms to address the unique challenges and opportunities facing SMEs. In response, POSB has curated this gathering to bring together entrepreneurs, financial experts, policymakers, and development partners for a day of meaningful dialogue and collaboration.
POSB Chief Executive Officer, Mr Garainashe Changunda, highlighted the critical role SMEs play in Zimbabwe’s socio-economic landscape and the need to ensure that SMEs are fully supported throughout their growth journeys.
“Across Zimbabwe, Small and Medium Enterprises (SMEs) represent a dynamic and indispensable pillar of our economy, contributing approximately 60% to the national GDP and employing more than half of the country’s workforce. These enterprises are not only engines of economic activity but also powerful enablers of opportunity and resilience,” said Mr Changunda.
“SMEs provide a vital source of income and empowerment. They are at the forefront of innovation, inclusive participation, and sustainable development, driving youth and women’s entrepreneurship, strengthening local value chains, and anchoring the growth of larger industries through their agility and entrepreneurial spirit. It is therefore critically important to support them,” he added.
The seminar will feature a series of insightful discussions aimed at addressing key areas critical to the growth and sustainability of the SME sector. Participants can expect in-depth conversations on entrepreneurial development, strategies for identifying and accessing both local and regional markets, and opportunities presented by the African Continental Free Trade Area (AfCFTA).
The formalisation of SMEs will also be a central theme, with dialogue around licensing, registration, and regulatory compliance. Financial inclusion will be explored, with emphasis on promoting the use of banking services and expanding access to finance. Additionally, the seminar will delve into taxation, customs procedures, and available incentives designed to support SMEs. Practical guidance will be offered on financial record-keeping and the preparation of compelling bank loan proposals, equipping entrepreneurs with the tools needed to strengthen their financial management and access capital.
“As we celebrate 120 years of transforming livelihoods in Zimbabwe, we remain deeply committed to supporting the growth of SMEs, sharing opportunities and understanding their challenges, including limited access to finance, inadequate training and mentorship, and the growing informalisation of the sector. Overcoming these challenges requires a collective effort from all stakeholders, including government, financial institutions, regulators, suppliers, and the SMEs themselves. Together, we can build a more inclusive, resilient, and prosperous economy,” Mr. Changunda added.
The seminar aims to create a space for open dialogue, where participants can share experiences, ask questions, and contribute to shaping the future of the SME sector in Zimbabwe. POSB will also showcase its suite of tailored financial solutions designed to meet the diverse needs of SMEs, including business accounts, loans, POS machines, and digital payment tools.
POSB invites all entrepreneurs, business owners, and stakeholders to attend this important event and be part of a national movement to unlock the full potential of Zimbabwe’s SMEs.
The seminar will be livestreamed on the Bank’s digital platforms for the benefit of those who are not able to attend the physical event.