Zimbabwe To Create National Database Of All Small And Medium Enterprises

The government of Zimbabwe has announced plans to establish a national database of all Micro, Small and Medium Enterprises (MSMEs) in a bid to strengthen the digital payment ecosystem and formalise the informal sector. The move was confirmed by Information, Publicity and Broadcasting Services Minister Dr Jenfan Muswere during a post-Cabinet briefing held on 17 September 2025.

Digital payment reforms

Speaking to the media, Dr Muswere explained that the Cabinet had adopted several measures following a study visit to India by the Ministry of Finance, Economic Development, and Investment Promotion, along with other Government bodies, including the Reserve Bank of Zimbabwe.

He said:

“Based on insights drawn from the Indian payment system and broader financial inclusion strategies, Cabinet adopted policy measures to strengthen the Government’s digital payment ecosystem and facilitate the formalisation of the informal sector. This includes establishing a digital system to register all MSMEs in order to create a National Database and reviewing the current payment system limits regime across all payment streams to increase transactional limits and accommodate MSME activities.”

The Minister added that simplified Know Your Customer norms, zero-deposit basic savings accounts, and free digital wallets tailored for micro-enterprises would be rolled out to reduce reliance on cash.

Support for informal businesses

According to the Herald, the Cabinet also approved plans to lower barriers for businesses looking to formalise. These include streamlined registration processes, simplified tax filing, and digitised licensing for MSMEs.

Dr Muswere said:

“Other measures include creating incentives for registered businesses to voluntarily enter the formal economy, rolling out national campaigns to promote digital financial literacy, enhancing the benefits of formalisation, increasing trust in the payment ecosystem, and strengthening collaboration with private sector players to invest in low-cost payment infrastructure, especially in rural and underserved areas.”

The measures are expected to encourage small operators to join the formal economy while reducing the dominance of cash-based transactions.