Mi­cro­cred takes over Mi­croking own­er­ship

Chronicle (Zimbabwe) - - Business Chronicle - Busi­ness Re­porter

GLOBAL mi­cro-finance gi­ant Mi­cro­cred has taken over the own­er­ship of Mi­croking Pri­vate Lim­ited, a de­funct unit of the AfrAsia King­dom Bank, which ceased op­er­a­tions in 2015 after the cen­tral bank can­celled its li­cence.

The move is set to re­vive the for­tunes of mi­cro-finance in­sti­tu­tion by broad­en­ing and adapt­ing its ser­vices and tak­ing busi­ness to the next level.

“What was Mi­croking Finance (Pvt) Lim­ited is now Mi­cro­cred Zim­babwe (Pvt) Lim­ited. We have rein­vented our self and grown bet­ter to serve you at the high­est in­ter­na­tional level whilst re­main­ing highly ac­ces­si­ble and ap­proach­able. One thing that we won’t change, but rather am­plify, is our be­lief in the peo­ple that we serve and their dreams,” said Mi­cro­cred Zim­babwe.

Mi­cro­cred Group jointly owns the new op­er­a­tion with AfricIn­vest Fi­nan­cial Sec­tor Fund. In terms of the deal, Mi­cro­cred will own 70 per­cent of the lo­cal busi­ness while AfricIn­vest owns the re­main­der.

The two firms re­port­edly plan to pump in more than $20 mil­lion into the Zim­bab­wean mi­cro-lender in the next two years as well as up­grade it into a mi­cro­fi­nance bank.

Mi­cro­Cred has op­er­a­tions in China and in six other African coun­tries, namely Cote d’Ivoire, Mada­gas­car, Mali, Nige­ria, Sene­gal and Tu­nisia. — @Bian­caMlilo. games and oth­ers.

“The re­sponse has been over­whelm­ing, a lot of peo­ple are ex­cited about our open­ing. We did not want to rush the up­grades that have been made to the op­er­a­tional build­ing so that we re­ally have a good struc­ture as you are wit­ness­ing,” he said.

Mr Makuro said the firm had chal­lenges sourc­ing ma­te­rial for up­grades as some of it was not avail­able lo­cally and had to be sourced from Bu­l­awayo and Harare re­sult­ing in de­lays.

“We will def­i­nitely be driven by value for money, gen­eros­ity and re­spect for the cus­tomer. We realise that to grow our busi­ness by the day we need happy cus­tomers at our tills.

“If the busi­ness de­mands more labour we will con­tinue re­cruit­ing, cur­rently we have an ad­di­tional six peo­ple we have trained to be read­ily avail­able as and when busi­ness will re­quire their ex­per­tise,” said Mr Makuro.

On com­mit­ment to qual­ity ser­vice, he said sup­pli­ers have been given stan­dards and re­quire­ments in or­der to con­trol in­puts adding that only short­listed lo­cal sup­pli­ers that meet stan­dards would be con­sid­ered be­fore en­gag­ing ex­ter­nal sup­pli­ers where pos­si­ble.

Also speak­ing to Busi­ness Chron­i­cle, Jo­han­nes­burg based Spur In­ter­na­tional De­vel­op­ment man­ager, Mr Ranesh Sew­parsad, said Cap­tain DoRe­gos in Hwange will fol­low in the foot­steps of Spur In­ter­na­tional as a lead­ing African fast food brand.

“Spur In­ter­na­tional is the num­ber one brand in African fast foods and Cap­tain DoRe­gos will fol­low in its foot­steps through of­fer­ing qual­ity food and high stan­dards of train­ing. We will con­tin­u­ally of­fer our sup­port, any­thing we do for Spur we will def­i­nitely do in Hwange,” said Mr Sew­parsad.

New kid on the block, fast-food chain, Cap­tain DoRe­gos in Hwange, and insets (top) Mr Bless­ing Makuro and (bot­tom) fi­nal touches be­ing car­ried out at the new site

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