A Small to Medium Enterprises programme designed to support and accelerate the growth of the sector had been launched. The Zimbabwe National Gazelles Programme was launched buy Kukura Business Accelerator in partnership with SA partner Mtiya Dynamics.
The programme will run for a period of 3 years and every year, 100 finalists will be chosen.
From that list, the Top 60 will be selected to benefit from a range of support activities and interventions to ensure that they operate as close as possible to their maximum potential. The main objective, is to develop them to become medium sized companies within an agreed period of time.
The impact of the Covid-19 pandemic around the world has highlighted the need for support for high growth SMEs in various jurisdictions. It is SMEs that have put in place risk management systems and growth strategies that will weather this storm!
When this painful period is over, the lower level SMEs will largely depend on high growth SMEs to source their inputs from them. It is thus vital, that this program kicks off in earnest during this Covid-19 period.
Post Covid-19, there will be competition for local and international funding and as a result only companies that have potential to survive post this period will be prioritized! This speaks to high growth entities in our view.
Zimbabwe National Gazelles is inviting Small to Medium Enterprises from the country’s 12 provinces to join the initiative which is targeted at businesses that are 100% Zimbabwe owned, established and in operation for at least 2 years, with an annual turnover of at least ZWL$1.5million.
The program includes intensive business workshops, coaching and mentoring, access to funding and markets, ensuring that the SMEs that are enrolled receive the support they require to evolve and grow.
Judith Kuster, Program Spokesperson said the programme was an adaptation of the tried and tested South African programme. “The government of Zimbabwe through the Ministry of Women’s Affairs, Community, Small and Medium Enterprises Development supports the program as it is in line with Government’s 2030 vision for Zimbabwe to become a middle income country by then.”
Zimbabwe National Gazelles works with partners across sectors to ensure delivery of the total package. ZB Bank is the official Banker to the Zimbabwe National Gazelles Program as the bank is supporting the program budget as well as offering relevant SME advisory services.