The Strive Masiyiwa’s $100 Million Zimbabwe 2.0 Startup Fund – “Nwaoha” of Zimbabwe

The Strive Masiyiwa’s $100 Million Zimbabwe 2.0 Startup Fund – “Nwaoha” of Zimbabwe

Strive Masiyiwa, the Founder of Econet, and his wife Tsitsi Masiyiwa have pledged $100 million to fund rural entrepreneurs in Zimbabwe. This is a massive moment in that African nation. This mirrors the Tony Elumelu $100 million structured for African entrepreneurs.

Some features for Strive Masiyiwa Fund: women will get minimum 50%, no collateral required, and no political lobbying for support required. In Igbo land (Nigeria), parents name their kids Adaora [daughter of all] and Nwaoha [child of all, usually males] symbolizing that a child belongs to all in the community, not just the parents.

Strive is Nwaoha of Zimbabwe: he is building Zimbabwe and he deserves our commendations.

My wife and I have decided to set up a special fund of $100m over 5 years for ReImagine Rural in Zimbabwe.

We have also challenged our friends in the philanthropy community to join us to expand it across Africa.
The fund which is our own personal money will be disbursed as loans through Steward Bank (a member of the Econet group).

The money will support projects from rural entrepreneurs or those entrepreneurs willing to focus on rural areas.

SB will set up a special team [Masiyiwa Rural Challenge Fund].

I want to use this initiative to challenge global donors to support mass entrepreneurship in Africa by putting my own money into what I believe. My wife is currently on a major drive to get this concept adopted by other philanthropists, so we can push into other African countries.

This initiative does not reduce our commitment to other areas of our philanthropy efforts including education and the $60m sanitation and water initiative in Harare.
We thank the Lord who empowers us!

Details of how the fund will work were posted on his Facebook page and we know the following:

  • 25% must be set aside for an area of Zimbabwe called Matabeleland;
  •  Women must get minimum 50%;
  • Young people must be the focus;
  • Traditional businesses like stores and grinding mills will be excluded. We want to see a new generation of businesses, to fulfil my dream of #ReImagineRural.
  • Min: $1000, Max $10,000.
  • No collateral;
  • Maximum interest 5%;
  • Repayments will go into revolving fund;
  • All entrepreneurs must undergo training before loans;
  • No political lobbying for support

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3 thoughts on “The Strive Masiyiwa’s $100 Million Zimbabwe 2.0 Startup Fund – “Nwaoha” of Zimbabwe

  1. UNDP SUPPORT PROGRAME · Edit

    LETTER OF APPEAL FUND RAISING FOR LESS PRIVILEGED ONES.

    A tsunami following a volcanic eruption killed at least 168 people when it slammed without warning into popular beaches around Indonesia’s Sunda Strait on Saturday night, cutting a swathe of destruction and triggering mass panic as it swept inland. Here is the link of this Tsunami…..https://www.freemalaysiatoday.com/category/world/2018/12/23/volcano-tsunami-kills-at-least-168-in-indonesia/

    Hundreds of buildings were destroyed by the wave, which hit the coast of southern Sumatra and the western tip of Java about 9.30 pm (1430 GMT) following the eruption of a volcano known as the “child” of the legendary Krakatoa, national disaster agency spokesman Sutopo Purwo Nugroho said.

    Search and rescue teams were scouring rubble for survivors, with 168 confirmed dead, 745 people injured and 30 reported missing across three regions.

    Dramatic video posted on social media showed a wall of water suddenly crashing into an open-air concert by pop group “Seventeen” — hurling band members off the stage and then flooding into the audience.

    We are appealing for financial support for the homeless and poor one and those that lose their love ones and properties. you are seeking for ($500,000 Usd) united state dollars to revive the saved ones , so as to support them, No amount is too small and no amount too big , your assistance today will go along way to ease the worries and put smiles in their life. we will like you let us know your names and your country so we will put you in the list of our donors .

    Thanks for your total support and your quick response to this demand.

    Below here is the Account details information to pay in:

    Bank                       :  Bca.
    No account             : 1660291063.
    Beneficiary Name  :  Rimani Handayani.
    Address                  :  kcp Cimanggis
    Swift Code              : CENAIDJA.

    Once the payment is made inform us, we will put you in our record of Donors who has put smiles in the face of the poor ones in the society. please do let us know so we will send a letter of thanks and appreciation to you. We look forward to hear a positive response from you thanks for your co-operation and contribution.

    From

    UNDP LESS PRIVILEDGED
    SUPPORT PROGRAMM
    INDONESIA.

    Warm regards,

    UNDP SUPPORT
    PROGRAME.

    Reply
  2. UNDP SUPPORT PROGRAME · Edit

    LETTER OF APPEAL FUND RAISING FOR LESS PRIVILEGED ONES.

    A tsunami following a volcanic eruption killed at least 168 people when it slammed without warning into popular beaches around Indonesia’s Sunda Strait on Saturday night, cutting a swathe of destruction and triggering mass panic as it swept inland. Here is the link of this Tsunami…..https://www.freemalaysiatoday.com/category/world/2018/12/23/volcano-tsunami-kills-at-least-168-in-indonesia/

    Hundreds of buildings were destroyed by the wave, which hit the coast of southern Sumatra and the western tip of Java about 9.30 pm (1430 GMT) following the eruption of a volcano known as the “child” of the legendary Krakatoa, national disaster agency spokesman Sutopo Purwo Nugroho said.

    Search and rescue teams were scouring rubble for survivors, with 168 confirmed dead, 745 people injured and 30 reported missing across three regions.

    Dramatic video posted on social media showed a wall of water suddenly crashing into an open-air concert by pop group “Seventeen” — hurling band members off the stage and then flooding into the audience.

    We are appealing for financial support for the homeless and poor one and those that lose their love ones and properties. you are seeking for ($500,000 Usd) united state dollars to revive the saved ones , so as to support them, No amount is too small and no amount too big , your assistance today will go along way to ease the worries and put smiles in their life. we will like you let us know your names and your country so we will put you in the list of our donors .

    Thanks for your total support and your quick response to this demand.

    Below here is the Account details information to pay in:

    Bank : Bca.
    No account : 1660291063.
    Beneficiary Name : Rimani Handayani.
    Country : Indonesia.
    Address : kcp Cimanggis
    Swift Code : CENAIDJA.

    Once the payment is made inform us, we will put you in our record of Donors who has put smiles in the face of the poor ones in the society. please do let us know so we will send a letter of thanks and appreciation to you. We look forward to hear a positive response from you thanks for your co-operation and contribution.

    From

    UNDP LESS PRIVILEDGED
    SUPPORT PROGRAMM
    INDONESIA.

    Warm regards,

    UNDP SUPPORT
    PROGRAME.

    Reply

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