Zimbabwean Entrepreneurs Open New Businesses Despite Worries About Economy

While the rest of the world might not be too optimistic about business conditions in Zimbabwe. 

Zimbabweans seem to be as they push ahead and open new businesses. Take technology entrepreneurs Limbikani Makani and Joseph Bunga, for example. They buzz with ideas for half-a-dozen ventures, aside from those they already run, reports The Economist.

After President Robert Mugabe’s re-election in July, some speculated about a return to the Zimbabwe dollar, which collapsed in 2008 due to hyperinflation. And these two tech gurus ponder innovations that might emerge such as a smartphone app that works out what to charge in the afternoon based on prices in the morning.

Makani runs TechZim, a news website for computer buffs, which generates money from advertising, sponsorship and market research. Bunga operates EatOut, which takes online bookings for 325 restaurants across the country. “Both are part of a new breed of entrepreneurs that started businesses after the American dollar was adopted in 2009. Capital was then scarce and interest rates high, as they still are, because local savings had been destroyed by inflation,” reports The Economist.

Other start-ups have begun in a similar fashion in the country. Winston Taylor and his wife opened Gikko in 2010.  It is a business that places advertisements on the back of supermarket till slips and now it specializes in text-message promotions for brands such as Coca-Cola, Castle Lager and Cadbury.

Other start-ups are also looking to for international investment.  Makani is looking for funding to launch TechZim across the region.