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George Maponga in CHIREDZI

More than 200 informal traders in Chiredzi will soon be operating from a state-of-the-art new US$600 000 complex that is being built in the sugar cane-growing town by the Chamber of Small to Medium Enterprises.

Construction of the complex, which will house both informal traders operating small shops and spacious stalls for vendors, is expected to be completed by year-end opening another avenue for more informal traders in Chiredzi to legally participate in the growth and expansion of the town.

Masvingo SMEs Chamber provincial chairperson Mr Venancio Kurauone says the building of the new edifice for informal traders was a boon for the town’s economy.

Mr Kurauone, who is Chiredzi-based Tradecode director and founding chairperson of the Lowveld Development Association, said the new complex is being funded by informal traders who want to participate in the Chiredzi town economic mainstream.

“We are scheduling to commission this complex in December this year and we have budgeted US$600 000 to complete it and expect to house over 200 informal traders from around Chiredzi Town. We think this will be a boon for the Chiredzi economy,” said Mr Kurauone.

He noted that the relocation of informal traders to the new complex will make it easy for the council to collect rates and tariffs thereby improving the revenue collection base while the development will mean more revenue into Government coffers through taxes.

“Almost all the materials that we are using to build this structure are being supplied by Chiredzi town informal traders and we feel this is good in terms of enhancing their businesses and by the time we commission this new structure we would have pumped over US$500 000 into the pockets of informal traders.”

Mr Kurauone said the new complex to be christened “Chiredzi SMEs Centre” is the first in a series of similar projects that the Masvingo SMEs Chamber hopes to replicate in other parts of the province.

“Every district should have its own SMEs centre where informal traders will be operating from as we intensify to make sure they formalise their businesses and contribute to the growth of the national economy in line with President Mnangagwa’s Vision 2030 targets,” he said.

The Masvingo SMEs Chamber chair hailed President Mnangagwa’s administration for supporting SMEs with cheap lines of credit to enable them to grow their business to stem the scourge of unemployment and grow the national economy.