By Elia Ntali
Old Mutual Zimbabwe has celebrated the fifth anniversary of its flagship entrepreneurship programme, the Value Creation Challenge (VCC) with calls for greater innovation, resilience and gender equity in the country’s business landscape.
Speaking at the award ceremony in Harare, Old Mutual CEO Sam Matsekete praised the 724 entrepreneurs who applied for this year’s edition noting that their determination showed vibrant entrepreneurial spirit.
He highlighted that only 20 finalists less than 3% of applicants reached the final stage making them leaders and role models in their own right.
“This programme is about creating models for society, because there are many alternative pursuits out there, and some are value-destroying rather than value-creating. What we are celebrating here are entrepreneurs determined to build something lasting,” Matsekete said.
The VCC, run through the Eight2Five Innovation Hub provides startups with training, mentorship, access to finance and networking opportunities.
Since its inception in 2020, the programme has expanded nationwide reaching innovators in remote and underserved areas.
Matsekete also welcomed new partners, including SNV, Delta Corporation, the Embassy of Sweden and the Zimbabwe Agricultural Development Trust joining existing backers such as the British Council and the British Embassy.
“Partnerships like these are vital because they allow us to scale up interventions and extend opportunities to more communities,” he said.
This year, women-led enterprises made up 40% of the finalists up from 15% in 2021.
Matsekete said he expects the programme will soon reach gender parity.
Permanent Secretary in the Ministry of Women’s Affairs, Community, Small and Medium Enterprises Development, Dr. Mavis Sibanda also addressed the event.
She urged participants to stay resilient, innovate constantly and formalise their businesses to strengthen the SME sector which contributes significantly to Zimbabwe’s GDP and employment.
“Every day we must innovate if we don’t, we die. SMEs are the backbone of our economy. They are at the forefront of producing quality products, creating jobs and driving growth.” she said
She emphasised that women’s empowerment should not come at the expense of men but rather as an effort to bring women to the same level creating a fairer and more inclusive entrepreneurial ecosystem.
The Value Creation Challenge has so far reached over 19 locations across Zimbabwe and partnered with five universities ensuring young innovators are not left behind.
According to Old Mutual, the initiative has already touched thousands of lives, launched new businesses and provided vital skills to entrepreneurs across the country.
“Five years on, this is not just a marker of time. It is a testament to what is possible when vision meets the right interventions, support and resilience. The real journey for these finalists begins now.” Matsekete said.
