Karimapondo Mall to support SME growth
STAFF WRITER
Madrugada (Private) Limited has officially launched Karimapondo Mall in Harare, creating new opportunities for small and medium-sized enterprises (SMEs) to grow from informal vending operations into established retail businesses, Business Times can report.
Speaking on the sidelines of the launch on Friday, Madrugada executive assistant Michael Cowper said the mall was designed to provide SMEs with clean, secure and affordable retail space as they expand their operations.
“It allows a great space for SMEs to start building their businesses and for people wanting to move from being vendors to having small stores, and eventually medium to larger retail outlets. That provides an opportunity for us to support those businesses by giving them clean and secure space,” Cowper said.
He said the company had identified changing consumer and business patterns in Harare’s central business district (CBD), particularly growing demand for retail space.
“We noticed that the trend in the CBD has changed and there is now a lot of demand for retail space, especially given its proximity to Mbare and the downtown CBD,” Cowper said.
He said Madrugada had transformed the existing property, which previously comprised several buildings, into an integrated retail complex.
“We took what was here, which is a nice open space. It was actually multiple buildings that were once here, and we have now converted it into one big mall. It consists of just over 100 metres of street frontage,” he said.
The development comes as Harare grapples with the need to modernise its urban infrastructure while creating opportunities for informal traders and small businesses to transition into the formal economy.
Harare deputy mayor Rosemary Muronda said urban renewal required collaboration between the local authority, government, private sector and communities.
“Urban renewal cannot be achieved by council alone. Government has a role, the private sector has a role and communities have a role. When these responsibilities come together, we can transform our city,” she said.
