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Oliver Kazunga Senior Business Reporter
DESPITE the closure and relocation of industries from Bulawayo, the city still has the potential to attract investment from different sectors of the economy, says Cephas Murambiwa, owner of Early Ashes Enterprises.

Bulawayo’s industry could be “dead” but opportunities for investment in different sectors are many, he said.

“The closure of some companies in Bulawayo created opportunities for other potential investors as competition among local businesses in the city was reduced,” said Murambiwa.

He acknowledged that liquidity constraints, power challenges and increasing competition from cheap imports were real but believes sound business proposals could bring the desired turnaround.

“I started working in the construction industry in 1997 before establishing Early Ashes Enterprises in 2005. Earlier on I worked for PG Industries and a hardware firm in Botswana for a year and it was through the construction industry experience that I was challenged to form my own company,” he recalled.

“I was inspired by indigenous businessmen such as Chiyangwa (Philip), Masiyiwa (Strive) and Chanakira (Nigel) to say if another black man can set up a company, why can’t I.”

Murambiwa could not be drawn into disclosing how much he invested to start the company which has now expanded to three branches.

The first branch is situated at Zavery Building at corner 14th Avenue and Herbert Chitepo Street, the second is located between 5th Avenue and 6th Avenue along Fife Street while the third branch is situated at Corner 3rd Avenue and Lobengula Street.

The hardware specialises in the supply of a wide range of building material ranging from door frames, window frames, paints, timber and other building material.

Last year, Murambiwa won the young entrepreneur of the year award in the Megafest Business Awards and this year he was the second runner-up in the Businessman of the Year award.

Murambiwa also scooped the Astra Best Seller Award last year.

Today, Early Ashes Enterprises employs 20 workers and has departments that include dispatch, human resources, accounting and administration.

Murambiwa said the departments were led by competent professionals with vast knowledge and technical expertise of the hardware industry.

He said his company was looking forward to expanding its operations to create more jobs in line with the country’s development agenda, Zim-Asset.

Murambiwa commended the government’s indigenisation and economic empowerment policy, which he said was meant to promote the involvement of ordinary Zimbabweans in the mainstream economy.

He, however, said his business was not spared from working capital constraints given the prevailing economic challenges.

“Due to the challenges facing the economy as a company we need about $200,000 working capital with the bulk of it going towards improving our stock levels. We source our stock locally. Liquidity has become one of the challenges limiting our stock volumes,” said Murambiwa.

“We’ve tried to approach local banks for funding but to no avail as we observed that the interest rates are higher than our profit margins thus we decided not to borrow from the banks.”

A holder of a Diploma in Marketing, Murambiwa says team work is the secret to the success of any business.

“Our policy is to work as a team with all the other employees and this has helped this company to remain afloat under the prevailing economic environment. Paying off debts and investing in your business also helps keep a company going,” he said.