As a nation currently facing daunting economic turmoil it can be easy to think that venturing into business is a non-starter. However, even in such times, there are numerous prospects in entrepreneurship. Elementarily entrepreneurship is anchored on the existence of problems that need to be solved. In essence, tough times present exciting opportunities for business initiatives. Never be swayed by naysayers who will always downplay any mention of business ventures. Zimbabwe’s economy is ailing but upon closer analysis, you’ll see that there are a number of investment prospects available. In this article, I’ll discuss 9 of those investment opportunities.
If you’re looking to make some smart investments then look no further; transportation can be the way to go. This is a broadly constituted field that provides room for anyone to carve out a niche for themselves. Transportation is a major part of virtually all walks of life. Some of the strategic examples are taxi services, haulage and logistics, public service vehicles (PSVs), vehicle sales (importation also key), vehicle hire or rentals, just to mention a few. Then there are also value-added services in transportation such as vehicle repair and maintenance, tyre services, towing services, insurance, and vehicle breaking, and so on. Then there is also the retail of other related goods and services. Every aspect in this category is in-demand so you’re set to get a significant return on investment by investing in transportation.
Despite the challenging times, events are still a major occurrence across the country. From weddings, church conferences, corporate events, entertainment events such as show business, sporting events, to parties; the list is endless. You can invest in putting together an events management business. You ensure you have key inventory such as PA systems, outdoors gear such as tents, chairs, tables, décor and the like. Such services are always being sought after on a weekly basis so there is money to be made here.
You need only get into a CBD, a growth point or any shopping centre to see how huge this is. Fast food outlets such as Chicken Inn and Chicken Slice are still growing strong. For as long as human beings hustle to make a living they’ll always make time to grab a bite. So investing in catering services such as fast foods is very wise. You strategically niche by providing your services in catchment areas where people congregate a lot. Examples are industrial areas, campuses, transport terminals and so on. I mention food services to broaden the spectrum because you can also invest in wholesale or retail of basic foods commodities. So this is definitely one area to invest in and get a definite return on investment.
There has been a very interesting trend over the years; the construction boom. There are now huge expanses of residential houses in places where there was virtually nothing a decade ago. The rate at which buildings are being built across the country is mind-blowing (especially given the state of the economy). So this presents several investment opportunities some of which are sales of building material, putting together a contractor business where you’re hired for building projects or any other related value-added services.
Several animals can be reared for milk, eggs, meat or a wide range of products. Poultry, piggery or cattle ranching are some of the most common types of business ventures under this cluster. Then there are other fields such as raising rabbits, crocodiles, goats, sheep; the list is so vast. This is one area of investment opportunities that one can get into without any hesitation. You just have to check out what’s appropriate for your area with respect to landscape, weather and location.
Mining is highly capital-intensive but can involve some very lucrative business activities. One of the most viable precious mineral to focus on is gold due to its high value encapsulated in small quantities. Most other minerals only appreciate the value when put together in large amounts. That’s why I recommend gold as an area of investment opportunity either with regards to mining it or the buying and selling of it.
I recently did an article on horticulture business opportunities in Zimbabwe. I discussed in detail 10 areas one can focus on in this domain. There are definitely very solid business prospects in investing horticulture. Your investment here will be well worth your time and effort. The remarkable thing for some of the areas here is that return on investment come in very short periods of time.
It’s commonly known that the informal sector is the most active area of business activity in Zimbabwe. However, there is a general scepticism of informal sector players’ ability to borrow capital and pay it back accordingly. That’s why at times most interested entrepreneurs struggle financially because they can’t afford the high rates charged for loans. You can provide reasonable rates and provide funding for many people who have business initiatives that wield the ability to generate revenue. You’ll, of course, have to exercise caution in choosing who to give capital. There are plenty of business types that thrive even in this type of economy. You could even think outside the box and become not just a micro-financier but become a venture capitalist. A secret: instead of focusing on monetary repayments think differently (e.g. getting equity).
Clothing design (such as tailor-making clothing items upon request) and clothing retail will never go out of fashion. No pun intended. This is one area that so many Zimbabweans are making a living out of. Thus you can never go wrong with an investment in this domain.
So there you have it, my list of 9 viable investment opportunities in Zimbabwe. I like a portion in the bible that mentions that Isaac sowed in the land (during a time of famine) and reaped a 100-fold. So never mind the economy, if you play your cards well you’ll score big in these investments.