Nov-2020 Publication Entrepreneurial quality content you cant afford missing A start-Up Top 10 Industries Conversation with voids entrepreneurs with Terrence need to fill up Mugova The Rise Of Start-Ups In Zimbabwe Keys For Establishing A The Gifts Business With A 03 Amid The 2006-2008 Economic 12 Successful Agribusiness Venture 15 Technological Twist: The Birth Of Giftyze Crunch www.entremag.co.zw The Entrepreneurial Magazine CONTENTS 1 THE RISE OF START-UPS IN ZIMBABWE AMID THE 2006-2008 ECONOMIC CRUNCH .........................page 3 2 THE BIRTH AND RISE OF MPALA CAR RENTALS SINCE 2007 .................................................................Page 4 3 THE BIRTH AND THE RISE OF NASH PAINTS IN 2007 ......page 6 4 BUHALI ROCKS THE BOAT IN THE MEAT INDUSTRY ....page 9 5 A JOURNEY OF A THOUSAND MILES STARTS WITH A SINGLE STEP: NEVER HESITATE TO START SMALL AND EXERCISE PATIENCE .................page 11 6 KEYS FOR ESTABLISHING A SUCCESSFUL AGRIBUSINESS VENTURE .....................................................page 12 7 THE GIFTS BUSINESS WITH A TECHNOLOGICAL TWIST: THE BIRTH OF GIFTYZE ..........................................Page 15 8 A START-UP CONVERSATION WITH TERENCE MUGOVA & HIS ASPIRATIONS TO BUILD COOPERATIVE COMMUNITIES ............................................page 17 9 YOUNG MINERS FOUNDATION: THE YOUNG MINERS’ ORACLE .....................................................page 21 10 TOP 10 INDUSTRIES WITH VOIDS ENTREPRENEURS NEED TO FILL UP................................. page 24 The Entrepreneurial Magazine Nov-2020 Publication EDITOR'S NOTE Entrepreneurial quality content you cant afford missing Top 10 Industries with voids entrepreneurs need to fill up A start-Up Conversation OIN us in this with Terrence Mugova proudest moment as The Rise Of Start-Ups In Zimbabwe Keys For Establishing A The Gifts Business With A EntreVision Media 01 Amid The 2006-2008 Economic 02 Successful Agribusiness Venture 03 Technological Twist: The Birth Of Giftyze Crunch www.entremag.co.zw J as we present to you our pioneer magazine, the very OUR TEAM first issue of The Managing Director Entrepreneurial Magazine full of entrepreneurial Denzel T Chimene content meant to equip BEST! Riveting Journalism and Editing Start-Ups, SMEs and Officer information that will change aspiring Entrepreneurs with your life. Caroline Chiimba strategic talent development Contributors and professional knowledge. Above all, the EntreVision Takudzwa Gondo team expresses its gratitude In an effort to make to its readers who have Precious Marecha self-education easier for you shown their unwavering Magazine Designing and to serve you with support in the month of Team entertaining constructive October. Kingsley Chikumbirike content, The 0777985486 Entrepreneurial Magazine We were so overwhelmed Web Designing is premised on with our target audience’s Team acknowledging the stellar support recording 3 157 web Ads Only work accomplished by viewers in our first month of operation (October), an Blessed Chakubva start-ups amid a harsh economic trajectory in the average of 102 site visitors Publisher country. per day and a 7.8% growth EntreVision Bulawayo rate. Metropolitan Focus is on emerging ©EntreVision Media Inc. start-up and aspiring Enjoy the launch Social Media Pages Entrepreneurs who are copy, crafted with willing to take a step of faith Facebook | Instagram | love. Don’t forget to Twitter | YouTube | and discover the fruits of share with your loved Entrepreneurship at the LinkedIn ones and send us a The Entrepreneurial same time giving you an Magazine in-depth analysis of a feedback on WhatsApp successful entrepreneurial [email protected]. journey. +263 779 105 424 zw Join us in this journey and Caroline Chiimba be rest assured that we will deliver nothing but the The Entrepreneurial Magazine Editor 2 The Entrepreneurial Magazine THE RISE OF START-UPS IN ZIMBABWE AMID THE 2006-2008 ECONOMIC CRUNCH HILE the investor confidence and date with the past and reveal country was domination of the black how two start-ups which reeling in market for foreign currency were founded during the crisis around and basic commodities. economic turbulence 2006 until However, as bleak as the (2006-2009) managed to W2008 when hyper-inflation future seemed, it did not survive in such conditions screeched its peek, some deter the determined and became house hold enterprising individuals entrepreneurs to set up names. were observing and companies that later turned identifying gaps and saw the out to be game changers in moment as richer ground to this current era. establish their start-ups. Going down the memory While today we are faced lane one can reminiscence with almost the same how the year 2008 was the conditions, in addition to worst for the country's the global pandemic economic outlook to the (Covid-19) that has affected extent of government business, resulting in the suspending the filing of shutdown of some big official inflation statistics. companies and disrupted powerful economies, some The period was entrepreneurs have characterised with highest managed to whither the annual inflation rate in the storm and still finding their world, price controls, balance in the chaos. closing up of manufacturing firms due to huge losses, A local entrepreneur who prize freezes, overvaluation faced various challenges in of the Zimbabwean Dollar starting up once said by the interbank rate, loss of challenges are opportunities in disguise. Let us make a 3 The Entrepreneurial Magazine THE BIRTH AND RISE OF IMPALA CAR Humble Beginnings RENTALS SINCE Having started as an idea in 2007 Middleborough, UK in 2006 and officially incorporated on the 5th of April in 2007 in the midst of an Economic Crisis, the company was founded to serve the Tourism and Hospitality Sector with car rental services, ringing true to the adage that necessity is the mother of all inventions. The company started with three employees and just four vehicles which comprised of Mitsubishi rate was very high and this Expansion Delica, Toyota Lucida, affected the buying power of Nissan Sunny and the Zimbabwean dollar. The Mitsubishi RVR. value of the Zimbabwean dollar fell sharply, which made it difficult to set fixed charges for our car rental Survival Strategy services. This had a negative impact on the business, a start-up to make it worse. To In 2008, due to high costs of survive we decided to sell Though founded in the renting a vehicle and an tyres which were imported midst of an economic crisis, unfriendly operating from South Africa. We did it now offers a full range of environment they resorted not abandon the car rental services including self-drive, to selling tyres so as to stay business, operations were chauffeur drive as well as in the game under the still on, but not effective shuttle services. From the brand: Impala Tyres. On because the environment Harare Branch, it now has their Facebook page they wasn’t so friendly. The tyre other branches in Bulawayo once posted, “The year 2008 business was there to keep and Victoria Falls. It also was quite a challenging year. us in the game.” now has footprints in Globally, economies were Zambia, Botswana and shaken and the environment South Africa having wans favorable for business. branches in Durban, In Zimbabwe the inflation Johannesburg and Cape 4 The Entrepreneurial Magazine Town, making it a regional recognized brand. Awards 2014 Platinum Partner Award | Institute of Directors 2016 Best service Provider of the year Award | Megafest Business Awards 2017 Super brand best car rental 2017 Best car rental customer choice award 2017 Best CSR (Corporate Social Responsibility) Awards 2018 Most Trusted Brand CICRM 2018 Zimbabwe Tourism Authority Best (Car Rental Sector) 2019 Excellence in Community Award Corporate Responsibilities Alfred Dondo Foundation (Named after the Founder) Significant sponsor in the Zimbabwe Arts Industry Charity Events Organizer 5 The Entrepreneurial Magazine THE BIRTH AND THE RISE OF NASH PAINTS IN 2007 Founded in 2006 by Mr Tinashe Mutarisi and officially registered on 27th of March 2007, Nash Paints was formed as a company that will manufacture and distribute automotive, decorative, wood paints to a variety of customers and painting accessories. Challenges faced and Survival Humble Beginnings Strategy ash Paints In the early years Nash Paints faced started with only one challenges in Brand acceptance. This branch at Chikwanha was however overcame by producing shopping centre in quality products and marketing efforts. Chitungwiza with only Procurement of raw materials also three employees. Start-Up came as another challenge and capital came from Mr establishing relationships with Mutarisi's personal savings suppliers of raw materials came as a Nand later on, he obtained financial support from solution. Nash Paints also faced financial institutions for expansion and growth distribution challenges and this was in the later years. curbed by establishing own retail outlets. 6 The Entrepreneurial Magazine ZIMBABWE INSTITUTE OF MANAGEMENT LEADERSHIP EXCELLENCE AWARDS o National Leadership Excellence Award 2016 o Leadership Excellence Award (Northern Region) 2016 Around 2017, Nash Paints o Businessman of the o Leadership reported that it had around Year 2016 Excellence Award 220 employees, 20 branches (Nationals) (Regional) 2016 throughout Zimbabwe, a US$3 million worth plant o Businessman of the ZIMBABWE that manufactures 50,000 Year 2016 (Northern NATIONAL litres of paint a day. Nash Region) CHAMBER OF Pints has grown to