Mukuwe Moyo, Founder and Brand Manager of Mukuwe Moyo Holdings Limited, Zimbabwe
Apr 24, 2024
Please tell us your name, where your business is located and what is it that you do?
My name is Mukuwe Moyo the Founder and Brand Manager of unlisted Public Holdings Company (PHC); MUKUWE MOYO HOLDINGS LIMITED based in Harare, Zimbabwe.
We specialize in Structured Trade & Commodity Finance of Export Import (EXIM) transactions for Agricultural and Mining products; we are a registered Exporter with the Reserve Bank of Zimbabwe (RBZ) as well as registered Non Resident Exporter/ Importer with : Great Britain, Northern Ireland, United States and Canada.
Tell us about how you got started.
My business journey and interest started in April 2014, when I became an EcoCash and OneMoney Agent in Bulawayo, Zimbabwe where I learnt a lot about entrepreneurship as a sole trader. I later got a job at Zimbabwe Schools Examinations Council (ZIMSEC) and I used my salary to start my first company MUKUWE MOYO INVESTMENTS (PVT) LTD6 in February of 2016.
I signed my first major contract which focused on the Sale & Installation of Econet Home and Car products (including Kwese TV) in 2017. I was later subcontracted in a Telone Msasa Factory tender for the Manufacturing & Assembly of ICT gadgets in 2018 and this was a big step in my growth. Late in 2019 we ventured into commodity Brokerage but unfortunately due to the COVID-19 pandemic we had to temporarily halt all our cross-border trading business for 2 years and resumed operations in 2022.
What makes your company unique?
There are 4 major reasons that make our company unique and able to stand strong and these are;
It is a Public Limited Liability company; it can handle debt/ liabilities effectively.
It is domiciled in two jurisdictions namely Republic of Zimbabwe and Republic of South Africa, which spreads the risk and economic volatility across the two.
Can enjoy the benefits of Transfer Pricing policies between Zimbabwe and South Africa.
Shares can be publicly traded to raise further capital.
No business is without setbacks, can you tell us about a time when you faced a significant setback and how you recovered from it?
I have had numerous setbacks, however will only site the top 3 (three) :-
Raising start-up capital to incorporate and formalise my ideas was a struggle. However I managed to Kick-start using my salary as borrowing from friends and relatives was not easy because to them it seemed like a waste of money investing in a business idea that’s wasn’t tested yet..
After I was established now came the challenge of funding my experiments, which out of the 5 (five) ideas I had invested in only 1(one) idea barely survived. Funding these experiments was done through Debt-Equity transactions with friends and relatives.
Now armed with a tried and tested Proof of concept (POC), I had to finance day to day operations of the start-up. To succeed at this stage I had to rely on legal smart/strategic partnerships with established companies in the industry and use online platforms more often, operating virtually.
How do you define success and to what do you attribute your success?
Success is the accumulated achievements of daily goals set and the lessons leant.
My success is a combination of a lot of ingredients just like a good soup. None more important that the other, with the harsh economic conditions being the main fire that cooked and simmered my ideas into a soup I incorporated as MUKUWE MOYO HOLDINGS LIMITED (MMH).
What's next for your business, what will it look like in 5 years?
Public listing on the stock exchange either via Initial Public Offering (IPO) or Reverse merger (RTO), in Zimbabwe or South Africa; and cross listing in Rwanda.
I surely hope it will bring rise stock value to shareholders that have stuck with me these past decades, and bring me closer to my childhood dream.
What do you think the future holds for Africa-focused entrepreneurs and advice do you have for entrepreneurs who are just starting out?
Africa-focused entrepreneurs will flourish, the future is bright.
Firstly: Make sure your business model is adaptive, I recommend implementing an Adaptive Project Framework (APF) approach. Secondly, make sure to utilise Network Corporate structure, it reduces start-up costs and working capital as well as extend your runway. Lastly, aim to grow your business organically, it will take time but it’s sustainable.
Owning a business while balancing a personal life can be challenging; how do you take care of yourself?
For me it took almost 5 (five) years to find the balance. I neglected my health and relationships, lost friends and family. Business can erode your social life if left unchecked, especially during the start-up/ bootstrapping phase. I believe in setting aside at least 2 (two) hours per day to socialise and network. I also take at least 2 (two) days per week to pursue outdoor activities. Your health is your wealth.
What is your favorite quote or mantra? What keeps you going?
“The best time to plant a tree was 20 (twenty) years ago, the best time is now”
I’m motivated by my childhood dream of building, owning and operating a factory like Zimbabwe Iron Steel Company (ZISCO), where I grew-up and becoming Zimbabwe’s largest Exporter/ Foreign currency earner and industrialist.
What is your favorite app or a business tool that you can't live without
Microsoft Excel