Harare moves to formalise SMEs

HARARE City Council has stated formalising all businesses in the informal sector as part of efforts to increase its revenue base and bring them into the mainstream business sector.

Deputy mayor Kudzai Kadzombe revealed this yesterday during a Vendors Initiative for Social and Economic Transformation (Viset) symposium on leadership and formalisation.

This comes as the informal sector has become the backbone of Zimbabwe’s economy, contributing at least 80% of the gross domestic product (GDP).

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