eBusiness Weekly
Business Writer
Zimbabwe’s microfinance institution, MoneyMart Finance, is among 20 finalists in Jack Ma’s “Africa’s Business Heroes” initiative, and its founder and chief executive Ethel Mupambwa say it’s an honour “to have gone this far” in a tight competition that attracted thousands of participants.
Africa’s Business Heroes (ABH), is a competition set up by Alibaba Group co-founder Jack Ma under his African Netpreneur Prize Initiative (ANPI).
The competition is meant to identify entrepreneurs making an impact in their communities and to build an inclusive economy for the future.
Zimbabwe’s MoneyMart Finance was among 22 000 other entrepreneurs that applied for the 2020 edition.
That list has now been narrowed to 20 including Mupambwa’s MoneyMart Finance, which has its head office in Harare, but also has branches in Mbare, Mutare, Bindura, Gweru, and Mhondoro.
The Top 10 finalists this year will get a chance to pitch their business in front of business luminaries (Including Jack Ma) and stand chance to win a share of the US$1,5 million prize pool.
The Alibaba Group co-founder tweeted on Wednesday and said:
“Congrats to the top 20 Africa’s Business Heroes finalists! Selected from 22 000 (plus) applications across all 54 African countries, these entrepreneurs are from 14 countries and 11 industries, and more than 50 percent are women.
“I can’t wait to meet them.”
While Mupambwa acknowledges that the competition is still on, she believes just being part of the top 20 is a privilege and honour.
“It feels great and gives a lot of confidence at a time you are wondering am l doing the right thing? Is this environment going to spare us? Are we going to survive yet another tomorrow?”
Mupambwa noted that entrepreneurship is no easy journey therefore ‘such recognition breathes a fresh new breath into you which is refreshing.”
Of her company Mupambwa had this to say:
“The future of MoneyMart Finance is set. The pressure to make an impact as she creates wealth and change the lives of each stakeholder of hers is being felt everywhere. The mission is yet to be accomplished and the journey is still there. She will redefine the Microfinance Industry first in Zimbabwe and in Africa.”
