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Business Reporter
THERE is a need for Micro, Small to Medium Enterprises (MSMEs) to diversify their enterprises and create multiple revenue streams and hedge against economic shocks, a Bulawayo businessman, Mr Mandlenkosi Sibanda has said.

Mr Sibanda is the director of Cheap Corner, trading as Chip Corner, an emerging enterprise that focuses on catering, farming and transport.

Recently, Cheap Corner came third in the Zimbabwe National Chamber of Commerce (ZNCC) Micro, Small to Medium Enterprises (MSMEs) category.

“We are now diversifying from catering services, which Chip Corner located at corner 9th Avenue and Hebert Chitepo, our main business, has been offering. We are now into farming producing vegetables for the fast-foods outlet thereby cutting out middlemen,” said Mr Sibanda.

On whether they have access to loans from financial institutions, Mr Sibanda said banks are not keen to lend to small traders.
He said they now rely on micro-finance institutions (MFIs). However, there are limits to funding from MFIs.

“I am not sure why banks are not keen to offer loans to us. As of now I want to buy heifers for breeding. I want to supply beef for our catering business instead of buying from middlemen.

“I need about US$30 000 for farming because my target is to have at least 50 beasts at any given time,” he said.