Zim Chamber of SMEs lauds Government on ZiG

George Maponga in Masvingo

The Zimbabwe Chamber of SMEs has hailed the Second Republic for introducing the ZiG saying the move will arrest inflationary pressures, restore savings and stimulate investment as the nation works towards attaining Vision 2030.

In his presentation before the Parliamentary Portfolio Committee on Budget, Finance and Investment Promotion, Zimbabwe Chamber of SMEs secretary general, Mr Venancio Kurauone, who was represented by the Director at Alinial Chartered Accountants, Mr Last Matema praised the Government for walking the talk on the quest to transform Zimbabwe into an upper middle-income economy.

Mr Kurauone said the SME sector is optimistic that the ZiG will add impetus to the growth of the sector which eyes to formalise operations of over 5 million of its players by the year 2030.

”The potential of the ZiG to fight inflation, restore savings and increase trust in the Zimbabwean economy by both local and international investors is why we are supporting the currency.

“The Zim Chamber of SMEs and its broader membership constitute more than 75% of the businesses in Zimbabwe and accounts for more than USD8 billion of the country’s GDP,” he said.

The chamber also made a cocktail of recommendations to ensure ZiG remains a strong and stable currency.

They called upon authorities to ensure fiscal discipline, transparency and interest rates management.

The chamber also highlighted that the nation should be kept informed regularly on the status of the new currency.

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