Staff Writer
HARARE: Stanbic Bank Zimbabwe has launched a series of Level Up Business Clinics at its Incubator Hub, aimed at equipping small and medium sized enterprises (SMEs) with the tools to address their business challenges and enhance their growth prospects.
The clinics, which follow the success of the bank’s Starter Up Incubation programme inaugurated last year, will support 63 entrepreneurs who were selected for their potential to benefit from targeted, expert interventions. These business clinics are designed to address key pain points often encountered by SMEs, from financial management to human resources challenges.
Auxilia Kambasha, the Head of Enterprise Banking at Stanbic Bank, underscored the significance of the Incubator Hub in fostering an ecosystem where businesses can thrive. She emphasized that understanding the unique obstacles SMEs face such as tax compliance, market access, and limited funding opportunities was essential for crafting solutions that deliver long term results.
“For Stanbic Bank to identify the best interventions for entrepreneurs, we need to appreciate their challenges and their realities. Issues such as tax compliance, access to markets, and limited access to finance are some of the hurdles that hold back SME growth,” Kambasha said.
She pointed out that businesses often struggle to obtain financing if they lack proper registration and bookkeeping practices. Moreover, family run enterprises face additional complexities around governance, succession planning, and role distribution. Kambasha stressed that the bank’s focus is not only on providing financial solutions but also on offering critical guidance to entrepreneurs to help them address these gaps and build sustainable business models.
Since its inception, the Starter Up programme has yielded tangible outcomes, with several participating entrepreneurs reporting increased revenues and an expansion of their workforce. These successes have laid a solid foundation for the bank’s new initiative, which aims to provide further support through the Level Up clinics.
The programme, which is set to run until May, consists of five distinct clinic sessions: Financial Management, Human Resources Management, Branding and Marketing, Funding, and Mentorship. Each clinic will host six sessions, with participants assigned to two or, at most, three areas that align with their specific business needs.
In the final stages of the programme, entrepreneurs will present their progress, outlining how they plan to implement the lessons learned and, for those seeking capital, the amount of funding they require. Those deemed ready for growth may be considered for financial support from the bank to help scale their businesses.
Kambasha highlighted that the clinics will also include follow-up sessions to assess the ongoing development of participants, ensuring that their businesses continue on an upward trajectory.
“The goal is to continue building capacity for SMEs and ensure that they are equipped with the knowledge and resources to succeed in a challenging business environment,” she said.
Stanbic Bank’s business clinics are part of a broader strategy to strengthen Zimbabwe’s SME sector, which plays a pivotal role in the nation’s economic development. By offering tailored support and critical business insights, the bank is helping to address the systemic challenges that often stymie SME growth, while simultaneously contributing to Zimbabwe’s wider economic recovery.
As the programme unfolds, stakeholders are hopeful that such initiatives will play an integral part in unlocking the potential of Zimbabwe’s vibrant entrepreneurial community, providing them with the tools to succeed in an increasingly competitive global market.
