News / National
Young business women get windfall
06 Dec 2020 at 02:51hrs | Views
A shot in the arm. This best describes the story of seven Zimbabwean young women entrepreneurs after each received a US$25 000 grant to capitalise their businesses.
This is part of a US$10 million funding by the United States African Development Foundation (USADF) to empower 50 million young women led enterprises in developing countries as part of efforts to enhance their economic emancipation and growth. From manufacturing to borehole drilling and to tax consultancy, the women dared to step up their game and take on the business world by storm.
The first step for these women was applying for training with the Academy for Women Entrepreneurship (AWE) where they were equipped with business skills such as financial management, basic business principles, book keeping and customer care management.
For Mrs Cecilia Sewera, who is into detergents making since 2017, the programme and grant are also a confidence boosters.
"Sometimes you may wonder if you are on the right path. But this has helped my business, it is like an endorsement.
"With this grant we can expand our business, increase our capacity especially with a vehicle for distribution," she said in an interview with The Sunday Mail Business recently.
A fortnight ago, United States Department of State's Bureau of Educational and Cultural Affairs (ECA), the United States African Development Foundation (USADF) announced the inaugural cohort of USADF Academy for Women Entrepreneurs (AWE) grantees.
In support of the White House-led Women's Global Development and Prosperity Initiative (W-GDP), which aims to empower 50 million young women in the developing world by 2025, AWE was created in 2019 and launched by ECA in 26 countries worldwide. AWE is now in 53 countries, including 16 in Africa.
Under its W-GDP partnership with ECA, USADF will provide up to $10 million in catalytic funding and technical support to select African AWE graduates in Africa through 2025. For the inaugural USADF AWE cohort, USADF has awarded 38 grants across eight African countries totalling more than $800 000 in seed funding for African women entrepreneurs to start and scale their enterprises.
"USADF believes women will drive Africa's growth and prosperity," said USADF in a statement.
"USADF has a long history of supporting young women to succeed as entrepreneurs and remains committed to empowering and investing in African women to break barriers, gain economic and financial independence, and create pathways to prosperity for their families, communities, and countries."
Prior to receiving the grants, the budding women entrepreneurs from Zimbabwe went through training from last August to February this year facilitated by a local embassy. On completion, they drew business proposals and out of the estimated 100 participants 20 were shortlisted.
Of the 20 proposals, seven were outstanding enough for the grants.
For Mrs Sewera, the programme goes beyond financial capacitation but includes the skills acquired in running her own business.
Although she is an expert in building brands with 17 years experience in the fast moving consumer goods (FMCG), there are some areas where she lagged when implementing her own business G and C Chemicals, which she founded and is the managing director.
"In terms of putting systems and structures together, we have improved, as well as complying with regulatory requirements such as taxation with the Zimbabwe Revenue Authority (ZIMRA) and local authorities, thanks to the training."
Mrs Sewera's business entails personal hygiene and household cleaning products such as dish washing liquid, toilet and tile cleaners, bleach, antibacterial hand soap, bleach and have expanded into engine cleaners and hand sanitisers during the Covid 19 period.
Ms Chipo Mabota is also one of the seven winners of the grant. Her company, Cooper and Jones Global Logistics is a customs clearing and forwarding company and is upbeat the firm will grow into a leading global logistics firm providing world class services.
Ms Violet Masuku, founder and director of Delcor Drilling, a company that specialises in drilling and installation of boreholes, also received the grant.
She said: "USADF has not helped Delcor grow, but enabled it to help communities without much breakdowns. Our service and standards of drilling will drastically improve with new tools and machinery we will purchase from the grant we have been given."
Another recipient of the grant, Ms Blessing Machiya, founder of Shumbakadzi Investments Private Limited, said the grant will increase her organisation increase production capacity as well as product quality as she eyes the export market. Shumbakadzi is a food manufacturing firm into value addition, producing dried fruits among other products.
Ms Mercy Suka was also among the grantees who founded Wisca Industrial Private Limited in 2016. The programme has helped her improve her entrepreneurial skills, financial literacy and has resulted in the birth of a new unit Solar Hub Technologies.
"This programme has broadened my entrepreneurial knowledge base. It has pushed me to open a new business venture that I have been longing for in a while," she said.
Ms Fundisayi Chigumadzi received the US$25 000 grant, which she will use to capacitate her company TARMO POWER GROUP, which she founded and is the managing director. The company helps the market with access to renewable clean energy for power generation to homes, corporates, farmers and the mining industry.
After receiving the grant, Mrs Penelope Gotora, co-founder of NAIM Tax Consulting said: "This gives me an opportunity to simplify tax issues to women SMEs and will in subsequently lead to business growth."
This is part of a US$10 million funding by the United States African Development Foundation (USADF) to empower 50 million young women led enterprises in developing countries as part of efforts to enhance their economic emancipation and growth. From manufacturing to borehole drilling and to tax consultancy, the women dared to step up their game and take on the business world by storm.
The first step for these women was applying for training with the Academy for Women Entrepreneurship (AWE) where they were equipped with business skills such as financial management, basic business principles, book keeping and customer care management.
For Mrs Cecilia Sewera, who is into detergents making since 2017, the programme and grant are also a confidence boosters.
"Sometimes you may wonder if you are on the right path. But this has helped my business, it is like an endorsement.
"With this grant we can expand our business, increase our capacity especially with a vehicle for distribution," she said in an interview with The Sunday Mail Business recently.
A fortnight ago, United States Department of State's Bureau of Educational and Cultural Affairs (ECA), the United States African Development Foundation (USADF) announced the inaugural cohort of USADF Academy for Women Entrepreneurs (AWE) grantees.
In support of the White House-led Women's Global Development and Prosperity Initiative (W-GDP), which aims to empower 50 million young women in the developing world by 2025, AWE was created in 2019 and launched by ECA in 26 countries worldwide. AWE is now in 53 countries, including 16 in Africa.
Under its W-GDP partnership with ECA, USADF will provide up to $10 million in catalytic funding and technical support to select African AWE graduates in Africa through 2025. For the inaugural USADF AWE cohort, USADF has awarded 38 grants across eight African countries totalling more than $800 000 in seed funding for African women entrepreneurs to start and scale their enterprises.
"USADF believes women will drive Africa's growth and prosperity," said USADF in a statement.
"USADF has a long history of supporting young women to succeed as entrepreneurs and remains committed to empowering and investing in African women to break barriers, gain economic and financial independence, and create pathways to prosperity for their families, communities, and countries."
Prior to receiving the grants, the budding women entrepreneurs from Zimbabwe went through training from last August to February this year facilitated by a local embassy. On completion, they drew business proposals and out of the estimated 100 participants 20 were shortlisted.
Of the 20 proposals, seven were outstanding enough for the grants.
For Mrs Sewera, the programme goes beyond financial capacitation but includes the skills acquired in running her own business.
Although she is an expert in building brands with 17 years experience in the fast moving consumer goods (FMCG), there are some areas where she lagged when implementing her own business G and C Chemicals, which she founded and is the managing director.
"In terms of putting systems and structures together, we have improved, as well as complying with regulatory requirements such as taxation with the Zimbabwe Revenue Authority (ZIMRA) and local authorities, thanks to the training."
Mrs Sewera's business entails personal hygiene and household cleaning products such as dish washing liquid, toilet and tile cleaners, bleach, antibacterial hand soap, bleach and have expanded into engine cleaners and hand sanitisers during the Covid 19 period.
Ms Chipo Mabota is also one of the seven winners of the grant. Her company, Cooper and Jones Global Logistics is a customs clearing and forwarding company and is upbeat the firm will grow into a leading global logistics firm providing world class services.
Ms Violet Masuku, founder and director of Delcor Drilling, a company that specialises in drilling and installation of boreholes, also received the grant.
She said: "USADF has not helped Delcor grow, but enabled it to help communities without much breakdowns. Our service and standards of drilling will drastically improve with new tools and machinery we will purchase from the grant we have been given."
Another recipient of the grant, Ms Blessing Machiya, founder of Shumbakadzi Investments Private Limited, said the grant will increase her organisation increase production capacity as well as product quality as she eyes the export market. Shumbakadzi is a food manufacturing firm into value addition, producing dried fruits among other products.
Ms Mercy Suka was also among the grantees who founded Wisca Industrial Private Limited in 2016. The programme has helped her improve her entrepreneurial skills, financial literacy and has resulted in the birth of a new unit Solar Hub Technologies.
"This programme has broadened my entrepreneurial knowledge base. It has pushed me to open a new business venture that I have been longing for in a while," she said.
Ms Fundisayi Chigumadzi received the US$25 000 grant, which she will use to capacitate her company TARMO POWER GROUP, which she founded and is the managing director. The company helps the market with access to renewable clean energy for power generation to homes, corporates, farmers and the mining industry.
After receiving the grant, Mrs Penelope Gotora, co-founder of NAIM Tax Consulting said: "This gives me an opportunity to simplify tax issues to women SMEs and will in subsequently lead to business growth."
Source - sundaymail
