In the wake of a devastating fire that swept through Mbare’s informal market, the Zimbabwe Chamber of SMEs (ZCSMEs) and the Indigenous Advisory Practitioners Association of Zimbabwe (IAPAZ) have extended their deepest sympathy to the Micro, Small, and Medium Enterprises (MSMEs) who lost their stock and livelihoods in the blaze.
The fire which broke out on Tuesday left many small business owners struggling with their wares and goods completely destroyed.
"This tragic event is a wake-up call," said Venencio Kurauone, Secretary General of the Zimbabwe Chamber of SMEs.
"While this fire is devastating, it highlights broader risks MSMEs face daily, including death, illness, theft, and natural disasters. As a Chamber, we are actively engaging stakeholders to fast-track our ongoing efforts to formalize MSMEs, focusing on creating safe, decent workspaces and building partnerships with large corporates in the insurance value chain."
Kurauone emphasized the Chamber's ongoing work to support MSMEs in mitigating such risks.
"We recently partnered with Generation Health to offer affordable, tailored health insurance products to MSMEs. Today it’s a fire, but the challenges extend far beyond that, and we need stronger systems in place." The Chamber is calling on development partners, the Harare City Council, and large corporates to work together in helping affected MSMEs restock their goods and secure safe, reliable workspaces.
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Kurauone added, "This incident reminds us why formalization is so crucial. A structured business environment, supported by insurance and disaster preparedness, is key to protecting the livelihoods of MSMEs."
The Chamber, in collaboration with IAPAZ, is already pushing forward its formalization drive of 5 million MSMEs by the year 2030.
Nyasha Gonese, President of IAPAZ and official advisory partner to the Chamber, shared his views on the incident.
"While we express our deep sympathies for the affected traders, this event underscores the need for swift action."
"IAPAZ is working with the Chamber to drive formalization, which includes building disaster resilience for MSMEs. Whether it’s fire, theft, or illness, MSMEs need protection systems to ensure business continuity."
"Through these efforts, we aim to strengthen the ties between various stakeholders, ensuring that MSMEs not only recover from crises like this fire but also develop sustainable business models," he said.
Gonese further pointed out that the operationalization of the African Continental Free Trade Area (AfCFTA) presents even greater opportunities for MSMEs, but only if they are formalized and equipped with the right tools to navigate risks.
"The call for formalization is growing louder as AfCFTA becomes a reality. We must ensure that MSMEs are well-prepared, and that begins with formalizing their operations."
IAPAZ and the Chamber are hosting monthly SME networking breakfasts in partnership with Rural District Councils (RDCs), a platform aimed at fostering collaboration between RDCs, MSMEs, and large corporates.
In the short term, both the Chamber and IAPAZ are encouraging stakeholders to come together for immediate relief efforts. The provision of financial support for restocking, rebuilding market infrastructure, and securing temporary spaces for affected businesses is critical.
The long-term strategy, however, is to create sustainable safety nets for MSMEs, including improved fire safety measures, business insurance schemes, and disaster preparedness.