By Staff Reporter
GOVERNMENT will soon establish a second tier stock exchange for Small to Medium Enterprises (SME) in the country, President Emmerson Mnangagwa has said.
In a recent speech delivered at parliament, Mnangagwa said the alternative stock exchange will unlock value for the SME sector.
“To further support the development of the financial services sector, Government has revived the issuance of treasury bills and bonds through the Auction system. In this vein, the RBZ has established Savings Bond instruments to facilitate safe and secure investment for the public. In addition, measures will be put in place to establish the SMEs Stock Exchange, with a view to unlocking resources for SMEs,” he said.
The president said government recently secured a 2.7mln grant to capacitate the SME sector through the upgrading of existing technology and common facility centers.
“Our SMEs continue to face challenges of inappropriate technology and unsuitable work spaces. Government has since secured a US$2,7 million grant from the Government of India for the upgrading of eleven existing Technology and Common Facility Centres, located in the country’s ten provinces. Additional state-of-the-art machinery for use in manufacturing activities of SMEs, are currently being installed. Going forward, Government is committed to support programmes to build appropriate work spaces for SMEs businesses,” he said.