Chronicle Editor
Canditar Chapanduka, Features Reporter
YEAR after year, institutions of higher learning churn out graduates, and among them, are vibrant entrepreneurs who are unleashed into society.
At the beginning of each semester, some students find it prudent to look for products to buy and sell to other students as a means of generating more pocket money.
However, for some, this goes beyond having a few extra dollars in their pockets during the course of the semester.
They keep at it and grow to become industrious businesspeople.
Many of them work hard to build a name for themselves while still on campus so that they’re well established by the time they graduate.
Often, they earn enough to pay their tuition fees through the buying and selling of various commodities to other students.
Mr Gerald Ndlovu (26), a former Lupane State University (LSU) student, is now a businessman who runs a ladies’ apparel shop in Bulawayo after starting off with a few random items he would sell to other students on campus.
He said during his days at the university, the money he would get from his guardians wasn’t enough to cater for all his needs so he decided to start selling ladies’ clothes and accessories because women tend to have a higher purchasing power.
“I sold different types of fashion trends for girls. The first time around, all the products I had were sold out and I had to look for some more. I gained a lot of profit because university students don’t follow a budget. Although the products were more expensive than those in other places, the students would still buy them. Some would feel the need to buy my products just to keep with the trends,” said Mr Ndlovu.
He continued: “They would be forced to buy stuff from me instead of going to look for the items outside the school premises. It would seem like a mammoth task for them to travel to Bulawayo and other places for shopping so they would buy from me.”
Mr Ndlovu said during his days at university, he realised the market potential which grew his zeal to continue with the business even after completing his studies.
His stint at LSU gave him the edge and necessary experience he needed for the business to thrive.
“I started off with a clothing shop but I later thought of expanding the business by venturing into mining. I partnered with a friend and we’re running a mine at Inyathi,” said Mr Ndlovu.
He encouraged students to identify other interests beyond their academic studies while in university.
“There are many life skills that one can acquire and they can teach you a lot to a point where you can establish something profitable from them.”
Mr Mirirai Charinda (24), a student at Midlands State University (MSU) has established a thriving cosmetics business which started off on campus.
Following a handsome capital injection, he opened a beauty spa shop in Kwekwe.
“I realised that a lot of ladies who wear make-up would make it a point that they keep their make-up kits complete. People readily buy cosmetics because they’re affordable. They cost little but have huge profit margins,” said Mr Charinda.
He is still a student at MSU but he has already managed to open a cosmetics shop.
Mr Charinda said university was a starting point to achieving his dream of becoming a businessperson who owns and runs his own cosmetics company.
Tertiary institutions have the propensity to transform dreams and aspirations of students into reality.
According to research, student entrepreneurialism is booming.
University education is increasingly becoming more diverse, with a greater emphasis on the whole experience, not just the actual academics. Entrepreneurship education is becoming more prominent, with many students seeking out extra-curricular activities and taking on additional classes in order to learn more about how to succeed in business. Collaboration and multi-disciplinary working is becoming more the norm, increasing the average student’s exposure to entrepreneurial activities and thinking.
Zimbabwe is registering growth in youth-led entrepreneurship, which is assisting the country in creating more job opportunities and diversifying the economy.
The growth in youth entrepreneurship has seen demand for business support from Empower Bank rising significantly as more youths seek to realise their economic potential.
Speaking during a meeting between youth business leaders and the Parliamentary Portfolio Committee on Youth, Sport, Art and Recreation in Bulawayo recently, Empower Bank retail manager, Mrs Betty Sibanda, said by the first-half of the year, they had approved 1 319 loans amounting to $57,2 million since 2018 for Bulawayo province alone.
However, 52 loan applications failed to attract funding mainly due to lack of collateral, she said, citing the need for the youth entrepreneurs to cultivate the culture of paying back their loans.
“A total of 1 371 loans were applied for in Bulawayo province since the opening of the bank in 2018 and 1 319 were approved and benefitted an amount of $57,2 million,” said Mrs Sibanda.
“For one to be able to qualify for a loan, there’s a need for collateral and as youths, anything movable is considered as collateral including cattle, television sets and laptops.”
The growth in youth entrepreneurship has reportedly seen demand for business support from Empower Bank rising significantly as more youths seek to realise their economic potential.
Empower Bank was established as a micro-banking unit by the Government in 2018 to specifically support different youth initiatives in order to revive the economy. — @NomqheleC
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