Prominent businessman Dr Shingi Munyeza has teamed up with pioneering South African business incubator Raizcorp to start operations in Zimbabwe. The incubator will launch in March 2019. Incubators the world over provide support and guidance to start ups in order to reduce failures and ensure start up viability.
Dr Shingi Munyeza is a distinguished business man in his own right. As owner and Chairman of Vinal Investment, Dr Munyeza has acquired Master Franchises in Mugg & Bean, Newscafe, Moyo, Ocean Basket, Rocomamas and others. Apart from running African Sun Limited as its Group Chief Executive, he has interests in franchising, telecommunication and renewable energy. Founder of Raizcorp, Allon Raiz says, “We conducted thorough research before choosing a partner in Zimbabwe and Dr Munyeza’s name came up again and again. His experience as an entrepreneur and at running a large listed group makes him the ideal partner. He has deep understanding of the entrepreneurs’ plight and what is needed in order to succeed in the tough economic environment of Zimbabwe.” In short, Dr Munyeza’s entrepreneurial background is solid.
Zimbabwe’s first “Prosperator”
Raizcorp’s preferred term for incubator is prosperator. For Raizcorp, this refers to the belief that they pick up where traditional incubators stop and they take the process to a new level. In a prosperated environment, the focus shifts from the development of the business to the development of the entrepreneur. On Raizcorp’s reputation, Dr Munyeza says, “When I read that The Economist regards Raizcorp as the only genuine incubator in Africa, my first impression was confirmed that they would be the best partner. When I visited Raizcorp’s flagship operation in Johannesburg, I said to Allon Raiz that I wanted to replicate his model brick by brick in Zimbabwe. Zimbabwe’s small business owners deserve the very best support possible.”
In Raizcorp, Dr Munyeza is partnering with a company which has nurtured over 125 000 start ups to date. Start up founders apply to join the programme and are put through rigorous training on how to start and run a successful business. There are no membership fees for entrepreneurs to join the programme. In South Africa, Raizcorp engages mines, corporates and multinationals to provide bursaries for entrepreneurs. Penny Du Plessis, Communications Officer for Raizcorp says, “Our programmes are designed to progress entrepreneurs from one stage of the continuum to the next. Entrpreneurs can enter a Raizcorp programme at any point along the continuum and then move on to the next stages.” This is exactly the same model that they are likely to follow in Zimbabwe.
Currently, Raizcorp Zimbabwe is recruiting staff. The selected staff members will be sent to Raizcorp head office in Johannesburg for extensive training in preparation for local operations. Entrepreneurs will then be called on to apply once everything is in place. It is important to note that the company believes that the recent changes in the political arena are inspiring as they position Zimbabwe to reclaim its lost place among the economic powerhouses of Africa. Raizcorp Zimbabwe will be located in Borrowdale, Harare.
With start ups taking the world by storm all over, Raizcorp Zimbabwe will certainly go a long way in shaping the new breed of entrepreneurs. Partnering with an established and proven “prosperator” like Raizcorp can only mean Dr Munyeza’s incubator hub will draw on the vast experience that such a business needs. It is a partnership that is likely geared for success.