eBusiness Weekly
Stive Masiyiwa
I have a vision. I call them Rural Entrepreneurship Centres. Each one would be located at a business centre in rural Africa, powered by a solar “mini-grid” providing enough electricity for any small business activity, plus Internet cafes, and eventually, clean water and sanitation. Last week we launched a new company to roll out these “mini-grids”! It is called Ugesi Energy. Here’s the link: www.ugesienergy.com Let me know what you think!
My wife suggested and I agreed that we should start out in the Matabeleland provinces of Zimbabwe, where we will roll out the first 10 “mini-grids” over the next six months! Teams have already arrived in Bulawayo, the regional capital, and will start work within two weeks.
I want each Ugesi Energy-powered Rural Entrepreneurship Centre (REC) to attract entrepreneurs and innovators of all kinds!
We know entrepreneurs need financial support to get started, so a couple of weeks ago we launched the $100 million Masiyiwa Rural Challenge Fund in my home country of Zimbabwe.
Through Steward Bank, loans of up to $10 000 will be disbursed at 5 percent interest, to entrepreneurs who show they can set up and scale their ventures in rural areas.
The Masiyiwa Fund is an “impact investment” supported by our family foundation.
Anyone from Zimbabwe with an interesting business that can be based in or within a 5k radius of these RECs will be able to apply for a loan, without having to put up collateral. Applications will be processed using our AI platform called Kwenga.
At each REC, I want to see shared economy businesses like KariGo and HelloTractor offering contract ploughing services to local farmers. I want to see agritech and agrifood ventures. I want to see young people with their own visions launching amazing new #ReImagineRural businesses!
#AgripreneurAlert: What businesses might you set up in a REC, if you had access to electricity, Internet, and a loan of up to $10 000?
Already we have people planning to set up businesses such as poultry, cottage dairies, welding and sewing shops. Others are talking about food products such as tomatoes and fresh vegetables. Others have new innovations in mind.
What about the rest of Africa? If the Zimbabwe pilot is successful, I will encourage other African countries also to adopt this model. Already I have targeted Rwanda, Burundi, Lesotho and Botswana as potential countries for similar projects. Are you in? Success for me is not just rural Zimbabwe. I want to scale this vision across Africa!
I have spoken to several global philanthropists about #ReImagineRural. The response has been remarkable, principally because I have “skin in the game” — an African philanthropist putting his own money on the table.
But we cannot do it alone. I need you to succeed once an opportunity like this is opened. Don’t allow fraudsters and others to ruin it. Be vigilant even if you are not benefiting immediately. Help me to help you!
For instance, if people who get these loans from Steward Bank don’t pay them back on time, it will hurt the community’s ability to get future loans. When they do repay as promised, it will grow the fund for the community!
