adminBrighton Gumbo Business Reporter
WHEN he failed to travel to Paris for the Africa Rethink Awards this month, Nkosana Mazibisa was not as depressed as most people would have been under similar circumstances.
For the Bulawayo-based entrepreneur, the awards —which gave African start-ups an opportunity to present their ideas before international political and economic decision-makers – were less about the chance to hog the limelight but more about being recognised for his contribution to Zimbabwean society.
The 27-year-old told Business Chronicle: “I was nominated for the Africa Rethink awards which were held in Paris. Unfortunately I didn’t make it. But for me it wasn’t about making it to the stage, but what was important is that people were starting to recognise me.”
This is not the only international recognition Mazibisa has received.
He has been invited to apply for a 2016 United Nations entrepreneurship and leadership award.
“I haven’t got the feedback but I’m certain very soon they will get back to me,” he said.
Mazibisa, who owns a consultancy company named Mazibisa Inc, and Swad taste of India, a fastfood outlet, is driven by the desire to control his destiny and create a legacy for himself in Zimbabwe by contributing to the economy and helping underprivileged children.
He is the school development committee (SDC) chairperson for Mawaba Primary School, where he is pioneering a $34,000 computer laboratory.
The computer lab has become a model for Bulawayo City Council (BCC) schools and is benefiting pupils in the Early Childhood Development (ECD) programme, as well as the community.
He said in his journey to become a successful entrepreneur, it was imperative to create his own frontiers.
“You don’t have to wait for someone to come into your territory and you start defending it,” Mazibisa said.
“You need to be always on the offensive. That is one of the strategies I learnt from my high school.”
Born in 1988 in Bulawayo, Mazibisa lives with his parents and siblings in Lobengula.
He is the third of four children, two brothers and a younger sister.
He did his primary education at Mawaba and in 2002, he enrolled at Bulawayo Adventist High School for his secondary education.
While in high school, Mazibisa was involved in public debate, poetry and public speaking clubs.
“During my high school, the country’s economy was beginning to collapse and we felt the need to deliberate and debate on the issue at school,” said Mazibisa.
“As the debates and deliberations continued, I eventually gained some interest on issues to do with the state of the economy in the country. I started reading and researching around the subject of the economy.”
He said that is when he realised his future as a businessperson with “a desire not only to be financially stable, but to have financial freedom” through maximising on every opportunity which came along in his life.
Mazibisa said he had not always known success as an entrepreneur, and had failed a number of times in his businesses.
This has taught him to “incorporate failure as a successful part” of his success.
Before establishing Mazibisa Inc, he was involved in mining, where he failed.
“But I’ve realised that I didn’t fail, instead it was a learning process for me,” he said.
“I’ve learnt patience, consistency and courage.”
He said things were not easy for him as he began his business, but was resilient enough to keep on.
Mazibisa recalled: “I remember when I started my fast food business; I had to cough out money from my pockets and sell my personal belongings just to recapitalise with hopes that the business would be a success.”
He said his business has not been spared the liquidity crisis, as most of his customers are failing to stick to their payment plans.
The liquidity crisis has hit hard on both businesses and their customers.
Local companies are facing challenges covering operational expenses as customers delay paying for services.
“The fact that money isn’t circulating affects us; we offer our customers a payment plan of seven days, but they no longer own up to their promise, they now even exceed to even close to a month,” Mazibisa said.
He said the impact of the liquidity crunch was worsened by the fact that banks had developed “a wrong approach” to handling SMEs in need of loans.
“When I approached a local bank to apply for a loan they asked me my age. I said 26 and they said I can’t run a business. It was so painful,” he said.
“Instead of at least sitting down with me or assigning a consultant to talk to me and understand my business proposal, they didn’t entertain me at all.”
Mazibisa said banks also needed to review their interest rates depending on the sizes of businesses applying for loans. This, he said would help SMEs to be more competitive.
He added that it was crucial for the government to have a centre that catered for Small and Medium Enterprises (SMEs) by helping them to achieve financial literacy.
“Commitment, perseverance, adaptability and the right attitude are key for one to be a successful upcoming entrepreneur,” said Mazibisa.
“SMEs need to adapt to a culture of learning and networking, getting to know how others make it and accepting failure as a necessary part of their success.”
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