Stanbic Bank Zimbabwe has launched an initiative aimed at bolstering the growth and resilience of Small and Medium-sized Enterprises (SMEs) through a series of targeted business clinics.
The “Level-Up Business Clinics” follow the bank’s previous “Starter-Up Incubation Programme” and are designed to equip selected entrepreneurs with the necessary tools and knowledge to overcome challenges and enhance their business prospects.
The incubator hub at Stanbic Bank Zimbabwe will host these clinics, focusing on critical areas identified as key to SME success. These include financial management, human resources, branding and marketing, funding avenues, and mentorship.
Each clinic will consist of six sessions, allowing for in-depth engagement and tailored advice to the participating entrepreneurs. Approximately 40 entrepreneurs who were part of the initial incubation program are expected to benefit from this new phase of support.
Auxilia Kambasha, Head of Enterprise Banking at Stanbic, emphasized the bank’s commitment to understanding and addressing the unique obstacles faced by SMEs in Zimbabwe. Issues such as tax compliance, limited access to markets, and funding constraints are significant hurdles that the clinics aim to tackle.
Kambasha highlighted that the program will not only focus on financial solutions but also on providing crucial guidance in areas like business registration, bookkeeping, governance in family-run enterprises, and succession planning.
The “Level-Up Business Clinics” are scheduled to run until May, culminating in participants presenting their progress and outlining future implementation plans, including potential funding requirements. Businesses demonstrating readiness for growth may also be considered for financial support from the bank.
Follow-up sessions are planned to monitor the ongoing development of the participating SMEs, ensuring the long-term impact of the program. This initiative by Stanbic Bank Zimbabwe underscores the vital role of SMEs in the nation’s economic development and the importance of providing tailored support to unlock their full potential.
