TRADERS at Mbare Musika Market last week suffered huge losses after an uncontrolled fire destroyed most of their wares.
Although the cause of Tuesday’s inferno is yet to be established, traders are counting their losses due to the blaze that run into thousands of dollars.
The ramifications of the inferno will be felt for the next coming days and weeks as thousands of families have lost their source of livelihood.
Mbare Musika Market is a major source of income for thousands that are eking a living selling various wares.
The country’s tough economic environment has spawned informal traders as they battle for survival. Some have made it in the trade, investing in other ventures.
There are unconfirmed reports that some cash was destroyed by the fire as the market is strictly on cash basis and the traders shun formal banking channels.
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Tuesday’s event is a stark reminder of the hurdles the informal sector faces in this tough economic environment which has resulted in some companies closing shop.
This is not the first time that informal traders have lost their wares to fire accidents. And it will not be the last.
Across town in Glen View, fire outbreaks at the furniture market have been a yearly occurrence with no firm measures put in place to stop the recurrence of the problem.
It’s not only in Mbare where the environment is not conducive for informal market players. All informal markets throughout the country are accidents-in-waiting as authorities there are more concerned about collecting fees. Some space barons have also entered the fray, collecting money daily from the traders.
The inferno at Mbare Musika Market left dreams and livelihoods shattered. Years of investments were reduced to ashes.
While some will dust themselves up after the catastrophe, others will never recover from the loss as there are no supporting systems to cushion them from the looses.
In an economy in which formal employment opportunities are coming in dribs and drabs, the informal sector has been the go-to means of putting food on the table for many families.
These traders pay rentals monthly to the local authority or space barons and expect a better service delivery which has been elusive.
According to Venencio Kurauone, the Zimbabwe Chamber of SMEs secretary general, the fire incident at Mbare's informal market is a wake-up call and must jolt government into action and accelerate its drive to formalise the MSMEs sector, "focusing on creating safe, decent workspaces and building partnerships with large corporates in the insurance value chain".
Government has promised to give the affected traders non-collateral loans for them to reboot after appeals of a bailout by the constituency to reboot.
While this is a good idea, we believe the traders need a safer place to operate from.
The Indigenous Advisory Practitioners Association of Zimbabwe (IAPAZ), which is working with the Chamber in the push to formalise 5 million MSMEs by 2030, said the fire incident underscored the need for swift action.
“IAPAZ is working with the Chamber to drive formalisation, which includes building disaster resilience for MSMEs. Whether it’s fire, theft, or illness, MSMEs need protection systems to ensure business continuity,” said Nyasha Gonese, IAPAZ president. We couldn’t agree more.