WOMENOMICS: Destined to move mountains

She is a managing director of one of the top financial services provider, author, philanthropist, mother, wife, pastor and innovator. Mrs Edna Mukurazhizha’s faith in the Lord and passion for the growth of women in business has seen her establish non-profit organisation, Woman Excel, to inspire women to break the “glass ceiling” through education and entrepreneurship. Woman Excel is now planning to set up a financial services firm to assist women, particularly those in rural areas, with cheap funding. Our business reporter Enacy Mapakame (Q) caught up with Mrs Mukurazhizha (A) where they talked about women entrepreneurship and access to funding. Below is an extract of the interview.
Q: Who is Ednah Mukurazhizha?
A: I was born in a family of eight. My father was a policeman and he passed on in 1985, so I was raised by my mother. I am a Pastor, married to a Pastor and we are blessed with five children. I am the managing director at BancEasy.
On the academic front, I have an Economics Degree with the University of Zimbabwe and did my MBA in 2013. I went for management and leadership development programme at the University of Stellenbosch.
I am also an athlete. Our former boss at BancABC Mr Doug Munatsi encouraged me to be a runner and I have participated in marathons and won awards. But in everything I do, my family always comes first. My children are very important to me. I will not miss any events at their school. I also make sure I have time for my husband. Every Friday night we go on a date.
Q: How did your family upbringing influence your lifestyle?
A: I had a very good relationship with my father. His death really affected me but it helped me get closer to God, because I have always said one day I want to meet my dad. My mother has been a pillar of strength in my life. One thing I have been grateful for is that she has witnessed us grow, she has been there to see us graduate and wed. I am a better person today because of the way I grew up. I always say she is my role model, she taught me to be the woman I am today, to be a woman of prayer, and it’s not something I take lightly.
Q: What is the inspiration behind Woman Excel?
A: We launched Women Excel in 2011, it is a platform for women to grow. We believe every woman has what it takes to excel in everything as long as she has been given a chance to do so. At the launch we had women leaders like Professor Hope Sadza, Dr Charity Jinya, Lyn Mukonoweshuro, Devine Ndhlukula and Tsitsi Masiiwa as the guest speaker. The whole idea behind this to inspire each other, if Devine Dhlukula could start a security company in her kitchen, then you and I can also do it, we have what it takes to be successful.
Q: How wide is the Woman Excel membership?
A: We started off with about 250 women and we have grown to 5 000, drawn from all sectors of the economy. Mostly we are looking at women entrepreneurs and those who are already working. But we are going to universities to talk to young women to cultivate a mindset of entrepreneurship before they leave university. We want to catch them young.
Q: This seems like an elitist club. How about those women entrepreneurs in rural areas, or those aspiring to start up businesses, where do they fit in?
A: We believe in empowering all women for the growth of the nation. Because of this, we want to start a financial service and get to the rural areas to offer resources to women. What we want is to see women everywhere grow in their projects. We also believe when you empower a woman, you have empowered the whole nation.
Q: How soon can we expect to see your planned financial institution come into operation?
A: We are planning to launch it in 2016. We have submitted our papers to the Reserve Bank of Zimbabwe. Right now we cannot talk much about it as it is still in its infancy, awaiting regulatory approvals.
Q: Financial institutions have been accused of side lining small to medium enterprises because they do not have collateral. If granted a licence how do you intend to deal with security issues vis-a-vis non performing loans?
A: We believe in women. From my 18 years experience in the banking sector, if you give a woman a facility, they will fight to service that loan yet there are only a few who are bold enough to come and ask for funding. That is why we want to tap into this market because we know there is potential, women can do it.
Q: So are you basically saying women will access funding without security, but just your trust and believing in them?
A: If a woman asks for funding to buy a car or a house, we will use that as our collateral. We want to come up with solutions to grow the economy. We cannot expect politicians to continue giving us solutions. We have to be the ones providing those solutions needed for our country.
Q: Who is funding this financial institution?
A: There is a women’s conference we attend in Dallas Texas every year. This year I attended a session where I met a lady who told me that as we start the financial services, there are two things to overcome, the first one is fear and the other is starting a business with nothing. We are starting this with nothing but I believe God is going to order my steps, he has already done so. There are people that he has connected me with who are going to help, this is through relationships. In Zimbabwe there are people we are partnering but we are also looking abroad.
Q: You are also a writer, how many books have you penned and what inspires you?
A: I have written two books, ‘Woman Excel — You Have What it Takes’ and ‘In His Presence’. When we launched Woman Excel (the organisation), I realised there is a seed of greatness in every woman. But because of the things we go through in our lives as women, there are limitations, there is that invisible glass ceiling. But when you have a revelation of that seed of greatness in you, nothing can stop you.
As for ‘In His Presence’, it’s the secret or key to everything I have achieved in my life. I have realised that when you dwell in the fullness of God, there is joy.
Q: What words of encouragement do you have, not only for women but for all Zimbabweans?
A: Given my experiences in the banking sector, I always encourage people to have more than one source of income. If you lose your job today, what will you do next?