Staff Writer
Applications for the 2022 Zimbabwean National Gazelles intake has now started and the application window will be closed by 20th December 2021.
The Zimbabwe National Gazelles, which was launched in April 2020, is a flagship programme that aims at identifying and accelerating high growth SMEs selected from all the country’s 10 Provinces.
It is Zimbabwe’s premier SME development programme, The Zimbabwe National Gazelles Programme (www.zimbabwenationalgazelles.co.zw), recently held its annual business day and Awards ceremony Cresta Lodge, Msasa in Harare.
The programme is in line with the international trend of identifying the top entities in various sectors that have the potential to scale up and create large scale employment both upstream and downstream.
Applied economic research shows that net job creation comes from a small batch of successful fast-growing firms, rather than from a large majority of averagely performing SMEs.
The evidence for different countries suggests that around 4-6 percent of high-growth firms produce half to three/quarters of all new jobs.
Two common features to high-growth firms are that they are prevalently young and small, with age being a stronger determinant of rapid growth than size.
Each business in this programme has the potential to build world-class, competitive businesses, to create new sustainable employment opportunities, to innovate and to revitalise specific industries from the ground up.
This Gazelles programme offers a unique blend of support interventions and activities, ranging from strategic thinking to branding, access to funding and market, business skills and to productivity enhancement.
Although the entrepreneurs within the programme are given the support necessary to improve performance of their businesses, they are still expected to run their businesses themselves and make all the decisions necessary to scale up the enterprises.
By ensuring that each business operates on the basis of a sound growth strategy, and has access to specialist advisory support and funding, sustainable growth becomes more likely and the risk of failure is reduced.
Being a Gazelles assures both client and funders that the company meets the regulatory and operating standards and that’s the best of the best in its industry.
The Top 50 entities were selected out of more than 300 applicants thorough a rigorous process that ensured that only the cream of the crop made it to final selection.
Each year will see a new group of National Gazelles selected to begin their journey on the programme, as the existing National Gazelles progress towards final graduation.
Ultimately, the National Gazelles alumni will be able to play a mentorship role for their new counterparts, at the same time forming a national network of business owners sharing the same goals of business success, job creation, innovation and business excellence — showing that Zimbabwean entrepreneurs can compete as equals in the competitive global world of business.
The programme will succeed because of the cooperation between the public and private sector.
The Permanent Secretary in the Ministry of Women Affairs, Community, Small and Medium Enterprise Development, Mr. Mhike, who was the keynote speaker, commended the Programmer initiator and Manager, Kukura Business Accelerator (KBA) for coming up with programme.
He advised that the programme is line with the approved National Small and Medium Enterprises Development Policy (2020 -2024) which prioritises formal collaborative partnerships in providing various support services to MSMEs in Zimbabwe.
He went on to commend ZB Bank for not only providing the business funding to those SMEs that met the requirements as well as for kick starting the program for the Gazelles.
The Permanent Secretary is encouraging more corporate sponsors/partners to come on board and support both the program as the SMEs need this support from corporates.
The corporate world were represented by Truworths’ Director, Mr. Lawrence Mabhiza, Mr. N. Richards Director, Mr. Archie Dongo and Zimnat Group CEO Mr. Mustafa Sachak who all emphasized that they support the SMEs as this contributes to the revamping of the Zimbabwe economy.
The business executives promote the “Buy Zimbabwean products first”.
Mrs Monica Mureriwa from the Catholic University highlighted the importance of reviewing the business operating environment and adapting and adjusting strategies to ensure business continuity.
KBA is undertook a 2021 Research on Zimbabwe SMEs. The Research is now available to interested parties. The Research was undertaken in partnership with a local University.
ZB Bank was well represented by the Group Head of Marketing, Mrs Emilia Mabika and the entire marketing team and Mrs Patience Makura, Senior Manager, Corporate. Both ladies advised that the bank supported the programme from its inception “because as a bank, we are a major supporter of the SME initiatives. It is important that SMEs be supported so that they become tomorrow’s corporates.”
All the Gazelles are required to open bank accounts with ZB Bank and their performance is being tracked and they are getting the maximum support possible.
The Winner of the Gazelle of the year award is Masvingo based Proper Engineering Services, run by Winnet Musorosekwa.
The company offers the following engineering services- machining, plant maintenance, steel structures, labour hire, steel fabrication and steel supplies. Well done to Zimbabwe leading SME.
The top 5 performers are: Wozani Lodge, Millenium Footwear, Green Tech Ventures, Kusi Chemicals and Dhaka Logistics and Watchman security.
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