On the significant date of Saturday, November 4th, 2023, the residents of Bulawayo witnessed a momentous event with the official launch of the Institute Of Entrepreneurs Zimbabwe. This event garnered attention, particularly from individuals inclined towards entrepreneurship and business. Although Hon. Judith Ncube, the Minister of State for Devolution and Provincial Affairs for Bulawayo Metropolitan, was unable to attend due to her presence in Egypt, Madam Thabane Ntando and Tapiwa Chikomo ably represented her. Additionally, officials from the Ministry of Youth and Women Affairs graced the occasion.
The establishment of the Institute Of Entrepreneurs Zimbabwe heralds a new era for Bulawayo in terms of business and entrepreneurship. The institute aims to cater to a wide range of individuals, including those passionate about starting a business, existing business owners, primary, secondary, college, and university students. Recognizing the importance of introducing entrepreneurship at an early age, the institute believes it empowers students to embark on their entrepreneurial journey and make unique contributions to the local, national, and global economy.
During the launch event, Hon. Ncube commended the Institute for aligning its mission and vision with the Africa Agenda 2063, Vision 2030, SDGs, and NDS1. The institute’s focus on entrepreneurship development is expected to foster sustainable economies, eradicate poverty, and address issues of substance abuse in youth, as idleness often contributes to drug and substance abuse.
Dr. Kudzanai Vere, the Chief Executive Officer of the Institute, delivered a powerful and impassioned speech. He outlined the Entrepreneurship SYRINGE framework, emphasizing the importance of the key “Ss” in the word “BUSINESS,” the valuable four Es, and the Six Pack approach to becoming an impactful entrepreneur. Dr. Vere also invited all businesses to join his innovative marketing and business application PBNI. This platform facilitates easy location of businesses by potential clients, providing a powerful tool for marketing in the business landscape.
Dr. Vere highlighted the ease of starting a business in recent times, leading to a proliferation of small businesses across the country. However, he emphasized that the challenges lie in the other three Ss: Support, Sustain, and Succeed in business. Conventional institutions, even after the declaration of Education 5.0 by Professor Murwira, have struggled to provide the necessary knowledge in these areas.
To bridge this gap, the Institute Of Entrepreneurs Zimbabwe plans to reach every town in Zimbabwe with economic activity. Their aim is to equip individuals who may have started their businesses outside the economic environment, those driven by passion, and those with technical skills but lacking understanding of sustainable business practices.
The institute has established partnerships with almost all banks in Zimbabwe as well as numerous corporate entities. By training fail-proof entrepreneurs, the institute aims to create a fertile ground for lending financial institutions, exemplifying the relevance of banks in the overall ecosystem. Established corporations such as Delta Beverages, Varun, Dendairy, Metro Peach, N Richards, and Dairibord are expected to witness business growth as the capacity of their customers improves. For instance, SMEs that previously purchased two trucks of sparkling drinks may double their orders after undergoing entrepreneurship training, thereby contributing to the growth of wholesalers and manufacturers.
While the Institute initially started in Bulawayo, its expansion plans include establishing chapters in every town in Zimbabwe. This decentralized approach ensures accessibility to entrepreneurial learning throughout the country. Dr. Nothando Moyo, the new Bulawayo Chapter Chairperson, expressed a commitment to upholding the institution’s ethos and vowed to equip the Bulawayo community with practical entrepreneurship skills.
Nashua Zimbabwe, an Automated Business Solutions company, was well-represented by their Director, Oscar Fredricks, and team who provided valuable assistance during the event. The Ministry of Women Affairs and Youth pledged to mobilize the broader Bulawayo community for an upcoming Annual Entrepreneurship Event for the Institute. This effort reflects their recognition of the importance of providing training to enable Bulawayo to reclaim its Industrial City Status.