daniel chigunwe
Remember Deketeke
Herald Correspondent
Forging partnerships with the private sector and tertiary education institutions remains at the core of Government efforts to nurture innovation, foster economic growth and facilitate the success of local businesses.
Women Affairs, Community, Small and Medium Enterprises Development Minister Monica Mutsvangwa yesterday toured Old Mutual’s Eight2Five Innovation Hub for Small and Medium Enterprises, where she acknowledged strides made by private companies in complementing President Mnangagwa’s development agenda.
Speaking during the tour, Minister Mutsvangwa said the Eight2Five Innovation Hub had contributed immensely to addressing workplace challenges in the retail sector.
“The construction of the centre has contributed greatly to the alleviation of workspace challenges, especially for the SMEs in the retail sector in Harare,” she said.
“Access to finance is one of the biggest challenges facing SMEs and the ministry is appreciative of the role being played by financial institutions, including Old Mutual in augmenting Government’s efforts to increase access to funding for SMEs”.
Minister Mutsvangwa said the innovation hub was evidence of Old Mutual’s backing of SMEs.
“The Eight2Five Innovation Hub we have toured today is clear evidence of Old Mutual’s commitment to supporting innovative entrepreneurs in our society.
Old Mutual’s managing director Life Assurance Rutendo Magorimbo said the only thing stopping Old Mutual from doing more is funding.
“Since most people are not saving their money, it becomes hard for us to have money to fund most of our projects that will help in alleviating poverty,” she said.
“We are seeking to expand to all the 10 provinces in Zimbabwe, and we are hoping that with adequate funding, we will be able to complete it.”
Online Reporter