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Business Reporter
THE Zimbabwe National Chamber of Commerce (ZNCC) has urged women entrepreneurs to support each other in their business initiatives as this is critical to enhance chances of success in business due the potential positive impact of collaboration.
This was said by ZNCC president Mike Kamungeremu at the ZNCC Women in Enterprise Conference and Awards (WECA), which ran under the theme, “Igniting Innovative Business Resilience in Challenging Times”
The awards are spearheaded by ZNCC’s Women’s Desk, which is one of the Sub-committees of the ZNCC. M
Mr Kamungeremu said the women’s desk, which was established in 2013, is meant to promote women to actively work together in strength, tenacity and courage to overcome obstacles and achieve joyful accomplishments.
Through the desk, ZNCC has a mentorship in practice programme, under the buy from women campaign, look-learn-and share initiative and the annual conference, which are all designed to promote women entrepreneurship and strengthen collaborative frameworks.
“I urge all women entrepreneurs to support each other. Women constitute 52 percent of Zimbabwe’s population and what would be the effect of this status quo if women were effectively supporting each other in every aspect of life. This surely requires self-reflection and a deep thought,” the ZNCC president said.
The absence of women-owned businesses from main business member organizations remains a cause for concern and the chamber’s leadership has vowed to reach out in the near future to find ways to collaborate more and support an inclusive industry.
Mr Kamungeremu said the country needed all industry players to come to the party and help the attainment of Vision 2030 through production and provision of services of the highest quality.
However, current power challenges have been negatively affecting business activities but this situation is expected to improve soon following revelations that Hwange Power Station’s new units 7 and 8 plants are now nearing commissioning.
“My appeal to you as business people is for you to invest in power backup solutions and generate your own power and have service level agreements for your critical sites. This will guarantee business continuity, survival and ensure that we support Vision 2030,” Mr Kamungeremu said.
The country has seen economic stability ever since the Treasury and the central bank instituted fiscal and monetary reforms, as this mopped up most of the excess local currency in the market, leaving some companies holding more foreign than local currency.
“I am aware of the current liquidity crunch in the economy and I urge you to practice sound cash flow management techniques. Those that had borrowed and are highly geared should immediately consider repaying those loans.”
According to the ZNCC president, an interest rate of 200 percent in the current stability posed significant threats to businesses. The central bank hiked the interest rates to record levels earlier this year to deal with factors that continued to undermine exchange rate and inflation stability.
“I would also wish to appeal to the Reserve bank of Zimbabwe to reconsider their stance and reduce interest rates specifically for those that had borrowed already before the 200 percent was introduced,” he said.
In his parting shot, the ZNCC president said everyone must do their part to break the glass ceilings and open the doors of opportunity thereby aiding economic growth.
Online Reporter