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Vendors Voice
Call for SMEs insurance
Zimbabwe’s insurance companies should come up with schemes for small and medium enterprises (SMEs) that protect their businesses, the Bulawayo Vendors and Traders Association (BVTA) has said. The call came after some informal traders in Bulawayo’s Mpopoma high density suburb recently lost their property worth thousands of US dollars when their goods caught fire. According to the Bulawayo Fire Brigade preliminary investigations, the fire that gutted the Mpopoma Outspan factory was caused by carelessly discarded lit material. The factory, also known as eSprampekini, burnt down on Wednesday morning last week, rendering over 700 people jobless. BVTA executive director, Michael Ndiweni said insurance schemes should be tailor made for SMEs. “This is a call to the insurers to ensure that there are insurance schemes that are tailor made to cover all businesses. As an organisation we have been talking about the need to ensure that there is an insurance mechanism that covers all businesses, “Ndiweni said. He added: “(The problem is) the insurances in place today only covers the big companies but small businesses do not. People lose goods in times like these. It’s an urgent call to make sure that providers put in place schemes for SMEs. Meanwhile, the Minister of Women Affairs, Community, Small and Medium Enterprises Development, Sithembiso Nyoni on Monday this week visited eSpamperekini. Nyoni said most SME centres were white elephants because responsible authorities plan for them without them giving input. “This kind of crowding of SMEs that are doing such quality work is unacceptable and last year we had an all-stakeholders meeting which agreed to decongest such places. I am happy that we have engaged the local authority to provide the land. “In a lot of cases, SME centres are white elephants because we plan for them without them giving us input. They are the ones that use them and they know what they want, “she said. She added: “What we need is cooperation from local authorities and our funders so that by the end of this year, SMEs should be working in comfortable places.”
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BVTA traders make losses due to power outages
Informal traders have decried unannounced power cuts which have led to loss of revenue and livelihoods, from last month. “The incessant power outages will surely collapse SMEs / informal economy who rely on electricity power to run their engines to produce will be on their knees if it continues like this, said Bulawayo Vendors and Traders Association (BVTA) Executive Director, Michael Ndiweni. With formal jobs being scarce, unemployment is over 80%, the informal sector and small businesses are the backbone of Zimbabwe’s economy, contributing 70% of the country’s gross domestic product, according to the International Monetary Fund. While large companies can resort to fuel-driven generators to power their businesses, many small traders are struggling in a country where inflation soared high, eroding incomes and savings. “Load shedding has given us a hard time to work on our businesses. We used to sell cold water and freezits and we were also doing photocopying and printing,” said Stella Fumayi. “My customers come during the day for haircuts, but most of the time there is no electricity. The other day there was no electricity from 6am up to 10pm so I will be out of business very soon if this continues,” said Tapiwa Moyo. “Load shedding has really affected me badly, I conduct my business online, it has become hard for me to contact my customers as I’m always offline, I have lost many clients,” said Sithabile Dube. “We can’t talk of business and development if we can’t have stable and constant power because all is interlinked to drive each other, and for us to claim space in the modern world,” Goefrey Gumbo told The Vendors Voice. “The situation is really bad, I had slaughtered 120 broilers and all have been affected by power cuts,” Ndodana Moyo a poultry farmer told the Vendors Voice. “Our children who are writing exams have also been affected as they are failing to access internet, most of the things in the new curriculum require internet, without electricity, they cannot access anything,” said Lizzy Mnkandla. “Due to power cuts, I have had misunderstandings with customers who had already paid deposit for their garments to be made, as it has taken me two months to finish up their products, I have failed to even assist my mother in paying off my young brother’s school so that he’s able to collect his grade 7 results,” said Primrose Shava, a young entrepreneur. “We hope that the government will look into this issue, otherwise our businesses will perish,” said Snini Masuku
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Traders commend RBZ for Collateral Registry
Bulawayo Vendors and Traders’ Association director, Mr Michael Ndiweni said this is a positive development for all workers in the informal economy. “Over time, traders have been raising concerns over stringent requirements for one to access a loan. “With this new development, it’s a step in the right direction. “It is now the duty of the RBZ and Government through the Ministry of Information to ensure that this information reaches everyone who may want to access loans.
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Informal traders request access to social security facilities
Bulawayo Vendors and Traders Trust Association (BVTA) has urged the Government to craft a national budget that would establish subsidised insurance, medical aid and pension schemes for players in the informal sector. The schemes would be targeted at cushioning traders in the informal sector from social and economic vulnerabilities as the sector has unique characteristics that need to be attended to. Speaking during the 2023 national budget consultation meeting organised by the Parliamentary Portfolio Committee on Finance and Economic Development in Bulawayo on Wednesday, BVTA executive director, Mr Michael Ndiweni said most of their members are vulnerable when they retire and there is a need to be cushioned. He said informal traders are willing to make monthly contributions of between $3 and $5. “We are requesting various social security schemes for people in the informal economy. If they do not sell various wares and fall ill, they won’t be able to access money to seek treatment. “Those who are formally employed contribute to various medical aid schemes, but those in the informal sector don’t have medical aid. We are asking the Government to ensure that the 2023 national budget, provides social security. “That should also happen with pensions. Players in the informal sector don’t have pensions, so we appeal to the Government to also budget around access to social security facilities for people in the informal economy,” said Mr Ndiweni. Mr Ndiweni said the informal sector has a majority of the country’s workforce and there is a need for a unique social security scheme and the proposal has huge backing from traders. Early this year, the National Social Security Authority (Nssa) prepared similar recommendations to the Government for a social security scheme for the informal sector. The proposed scheme is in line with Vision 2030 and the National Development Strategy 1 and is part of Nssa’s contribution to a prosperous upper-middle-income economy by 2030. National Social Security Authority Nssa says access to social security is a basic human right enshrined in the Universal Declaration of Human Rights, UN Protocols, the International Labour Organisation accords and Zimbabwe’s Constitution.
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