Entreprenuerial support

The present generation has a different mindset compared to the usual norm of working life-long for a firm or organization. In my previous blog on “The Genius in every child”, I suggested that the system needs to embrace the changes, accepting the fact that every child (individual) is unique and the process of testing people based on the same criterion should stop.

The entrepreneurial mindset is required to create value used to uplift society, which is one that is most needed now than ever. This can be utilized both in a firm or organization level and on a personal growth level.

To achieve an impactful growth level, funds are necessary to put ideas into reality in order to solve problems. This is what most funding organizations, Angel funders or investors, and VCs (Venture Capitals) do.

In Zimbabwe, Strive Masiyiwa, the founder of Econet global and his spouse Tsitsi Masiyiwa are launching a $100M entrepreneurial rural fund to boost the development of the ReImagine area in Zimbabwe which will run for a period of five years.

Strive Masiyiwa and his spouse Tsitsi Masiyiwa

Strive is an example worth emulating as he follows the steps of the Tony Elumelu Foundation to support the entrepreneurial spirit of people with ideas that lead to development.

Capture - Econet

How the funding works are explained on his Facebook page, and below are a few of the insights

– 25% must be set aside for an area of Zimbabwe called Matabeleland;

– Women must get minimum 50%;

– Young people must be the focus;

– Traditional businesses like stores and grinding mills will be excluded. We want to see a new generation of businesses, to fulfill my dream of #ReImagineRural.

– Min: $1000, Max $10,000.

– No collateral;

– Maximum interest 5%;

– Repayments will go into revolving fund;

– All entrepreneurs must undergo training before loans;

– No political lobbying for support

I hereby call on more funding partners to support the different ideas from different African countries and Afroprenuers aiming to develop and solve the issues in their various countries while adding value to mankind.

#Entreprenuers #Tonyelumelufoundation #startups #Afrolynk #Africantide #Zimbabwe #Econet

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