The World Bank Group has partnered with the Reserve Bank of Zimbabwe and the Zimbabwe Reconstruction Fund to re-ignite the development of small and medium enterprises (SME) in Zimbabwe.
“Small and medium enterprises in Zimbabwe, like in most emerging markets, are the backbone of the economy but they face many difficulties, especially relating to access to finance and skills development. Women entrepreneurs face distinct challenges,” said Alejandro Alvarez de la Campa, Practice Manager for the World Bank Group’s Finance and Markets Global Practice.
The World Bank Group is helping SMEs mitigate these challenges to grow and boost job creation and economic growth in Zimbabwe, as part of the country’s 2016 National Financial Inclusion Strategy.
The Group, including the International Finance Corporation (IFC) has deployed 13 experts to work with the Reserve Bank of Zimbabwe to strengthen the financial sector drive towards SME finance.
Together with the Reserve Bank of Zimbabwe and the Zimbabwe Reconstruction Fund it has commenced a conference on Small and Medium Enterprise Finance in Zimbabwe where experts among them credit guarantee experts from India, Malaysia, Korea and the United States are sharing their experiences in the SME sector.