There is not a single startup in the world that needs telling that raising capital challenge, more so the Zimbabwean startup. So, whenever there is something or someone that wants to help startups solve for this critical resource, we get excited.
Some may be familiar with Global Shapers, the network of city-based Hubs. Well, there is a Harare Hub which was founded by Nigel Chanakira. This Harare Hub has a project called Mukana that “aims to assist entrepreneurs with identifying and applying for funding opportunities to help grow and support their businesses.”
The question then becomes, how do they do this? Here is what they say about Mukana,
Mukana is a pioneering initiative aimed at bridging the funding and support gap faced by
micro-entrepreneurs in Zimbabwe. Leveraging innovative use of technology, particularly
WhatsApp platforms, Mukana provides access to essential resources such as financial
opportunities, business development services, mentorship, and peer learning.
I think it’s refreshing to see a project that targets micro-entrepreneurs. Most Zimbabwean entrepreneurs fall in this category and there aren’t many projects catering to them. Global Shapers say as much, talking about how they are often overlooked by traditional financial systems.
Mukana is already active and has achieved the following to date:
- Engaged over 300 micro-entrepreneurs through WhatsApp platforms, providing crucial financial literacy insights.
- Shared over 30 funding opportunities, with around 10% of participants actively applying for them.
- Conducted successful engagement sessions, including the inaugural WhatsApp School Session, with a satisfaction rating of 4.7/5.
- Developed financial literacy modules and plans for future initiatives, including an incubation program and micro-funding scheme to support micro-entrepreneurs
I gotta say, I love this use of WhatsApp. This is the best way to reach the micro-entrepreneur. If you’re not on WhatsApp in Zimbabwe, you can’t ever hope to reach the masses.
Anyway, under this Mukana project is an event called the Big Mukana that’s coming up.
Big Mukana – Unlocking funding for Zimbabwean Entrepreneurs
What
“Big Mukana is an event designed to empower entrepreneurs seeking funding by providing invaluable insights and guidance from key stakeholders in the funding ecosystem. The event will serve as a platform for entrepreneurs to have a dialogue with funders, enablers of the funding ecosystem and other successful entrepreneurs.
Big Mukana will feature a keynote speech from an authoritative perspective on the state of the
current system and a panel discussion with different stakeholders in the ecosystem.”
Why
To provide practical guidance for entrepreneurs seeking funding. They want to “help entrepreneurs looking for funding with tangible steps on how to get funding, manage funding after you’ve gotten it and identify funding sources currently available by having a dialogue with leaders in the space.”
I imagine this should mean:
- Practical Steps to Secure Funding: Offering clear, step-by-step instructions on how to navigate the funding process, from preparation to securing investment.
- Funding Management Strategies: Sharing insights on effective fund utilisation, budgeting, and financial management for sustainable growth.
- Identifying Current Funding Sources: Providing an up-to-date overview of available funding options, including grants, loans, venture capital, and alternative financing.
- Engaging with Industry Leaders: Facilitating discussions with experienced entrepreneurs and investors to gain firsthand knowledge and advice.
Who will be speaking?
Speakers will include:
- Aluwaine Tanaka Manyonga – Founder and lead innovator at Ark Technologies
- Tatenda Magetsi – Policy and fundraising professional
- Kumbirai Chimupekete – Co-founder UmojaLands
- Dr Ethel Mupambwa – CEO of MoneyMart Finance
Who should attend?
Entrepreneurs looking for various types of funding, including grants, equity investments, and loans.
Where?
It will be held virtually and I think owing to WhatsApp’s limitations on video calls, Zoom was the choice. You can click here to register here and the link will be shared with you.
When?
26 June 2024, from 10am to about 12:15pm. The programme goes like this:
That’s about it. If you know any entrepreneur who could benefit from this kind of discussion, do share with them.
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What’s your take?