by Fungai Munetsi

In a move aimed at uplifting the status and welfare of informal economy workers and traders, the Zimbabwe Chamber of Informal Economy Associations (ZCIEA) Nyanga Territory has entered into a Memorandum of Understanding (MoU) with the Nyanga Rural District Council. The partnership under the MoU is designed to streamline the registration process for informal economy workers and traders, facilitating the transition to formalized businesses.

Recognizing the importance of organized structures in the informal economy sector, the collaboration between ZCIEA and the Nyanga Rural District Council is set to not only enhance the lives and working conditions of informal economy workers but also contribute to more efficient revenue collection for local authorities, subsequently reducing levels of corruption within the region.

Under the terms of the MoU, both parties have committed to ensuring that the concerns of informal economy workers are promptly addressed. Key initiatives outlined in the partnership include the promotion of ethical business practices among informal traders, equipping them with essential business management knowledge and skills, as well as establishing savings and lending schemes tailored to support their financial needs.

The signing of the MoU signifies a significant step towards fostering a supportive environment for informal economy workers and traders, setting the stage for collaborative efforts to drive sustainable growth and development within this vital sector of Zimbabwe’s economy.

The partnership between ZCIEA and the Nyanga Rural District Council underscores a shared commitment to empowering informal economy workers and traders, paving the way for enhanced livelihoods and economic opportunities within the region.