• Old Mutual Zimbabwe’s Eight2Five Innovation Hub collaborates with DHL GoTrade to support SMEs
  • The initiative aims to enhance local businesses' competitiveness in the global market
  • Aims to combat unemployment and poverty while enhancing Zimbabwe's entrepreneurial ecosystem

Harare-Old Mutual Zimbabwe, a leading financial services group through its Old Mutual Zimbabwe’s Eight2Five Innovation Hub has joined forces with DHL GoTrade to bolster small and medium-sized enterprises (SMEs) and start-ups with aspirations for export opportunities.

This collaboration aims to empower local businesses, enhancing their ability to compete in the global market.

DHL GoTrade, a social impact initiative from DHL Group, is focused on increasing cross-border trade by assisting SMEs in developing countries to expand internationally while the Eight2Five Innovation Hub is a space in Zimbabwe that helps entrepreneurs use technology to solve business problems.

Last week, the "Trade and Grow Beyond Borders" program was launched, targeting the empowerment of 300 businesses with essential resources and knowledge needed to thrive globally.

This initiative not only aims to combat unemployment and poverty but also seeks to enhance the entrepreneurial ecosystem in Zimbabwe, increasing the global competitiveness of local enterprises.

“Through the Trade and Grow Beyond Borders Program, we are making a purposeful and impactful effort to elevate the global competitiveness of local businesses.” Old Mutual head of group marketing, public affairs, and sustainability Lillian Mbayiwa said at the launch.

This initiative is seen as a strategic investment in both the future of SMEs and the broader Zimbabwean economy, aligning with Old Mutual’s mission of fostering mutually beneficial futures.

The Eight2Five Innovation Hub, part of Old Mutual’s commitment, is dedicated to helping entrepreneurs navigate business challenges through innovative technology.

The hub provides office space, business development programs, and invaluable networking opportunities, fostering collaboration and creativity among start-ups.

This collaboration is particularly relevant for the Zimbabwean economy, which has faced numerous challenges, including high unemployment rates and a struggling formal sector.

By empowering SMEs and start-ups, the Trade and Grow Beyond Borders program will  create jobs, stimulate economic activity, and support sustainable growth.

SMEs are crucial for economic development, as they often drive innovation and contribute to job creation.

Through facilitating access to international markets, this initiative can help diversify Zimbabwe's economy, reducing reliance on traditional sectors and promoting a more resilient economic landscape.

Increased exports can lead to improved foreign exchange earnings, assisting in stabilizing the country’s economy.

Equity Axis News