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#Finance

CBZ To Invest $12 million In A Mall For SME’s

CBZ bank Zimbabwe
   

CBZ Holdings is in advanced talks with the Harare City Council to construct a mall in Graniteside.  After completion, CBZ’s mall is said to house retailers, manufacturers and Small to Medium Enterprises (SMEs).

“We have budgeted $8 million and $12 million for the center, which will include a supermarket and factories and offices for SMEs”

The most outstanding users to be accommodated in the proposed mall are SMEs. CBZ’s initiative could have arisen as a result of their commitment to support SMEs highlighted by their hosting of this year’s SMEs Indaba.

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Zimbabwe is witnessing a sudden surge of interest in SMEs and this is attributed to the fact that they require relatively small amounts compared to large companies hence lending to SMEs reduces the magnitude of their loan default exposure.

CBZ, Zimbabwe’s largest financial services provider will be competing with companies like Cyrex and B2C Coworking in sheltering SMEs and it’s a competition they will probably lose.

Who are CBZ’ s competitors in providing workspaces for SMEs?

Cyrex and B2C Coworking are hubs in Harare that are providing workspaces for SMEs and Start-ups in a single building but at very low rental rates. Apart from low rentals, the major selling point of these hubs is that they own an atmosphere which is conducive for emerging companies to thrive. Different kinds of people with a single goal to grow big mingle together in these hubs.

CBZ could match the rentals offered by hubs like Cyrex but they may struggle to foster an atmosphere that these hubs possess simply because organizations like CBZ are run by rigid bureaucracies that do not serve well the flexible nature of SMEs and Start-ups.

In spite of that, CBZ can attract SMEs that require factories and are failing to secure convenient places where to set up their factories given Zimbabwe’s lack of necessary infrastructure like roads in some areas.


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