Old Mutual crowns Value Creation Challenge winners

SAMANTHA MADE

Zimbabwe’s largest financial services group, Old Mutual, through it’s Value Creation Challenge, the flagship program of the Eight2Five Innovation Hub, has crowned the winners of its fifth edition, celebrating some of country’s most promising start-ups and small enterprises.

At a colourful awards ceremony, top performers were honored after completing a rigorous program designed to equip entrepreneurs with critical skills, strategic knowledge, and access to business networks.

This year’s edition drew 724 applications, with 59% coming from outside Harare, underscoring the program’s growing reach into marginalized and remote areas.

The initiative has enjoyed strong support from a wide network of partners, including the British Council, the British Embassy, the Zimbabwe Agricultural Development Trust (ZADT), SNV, Delta Corporation, the Swiss Embassy, and the Embassy of Sweden.

Among the winners, Golden Harvest Honey was awarded the Best Rural Enterprise prize of US$5,000, while Zela Enterprise walked away with the Best Female-Led Enterprise award, also worth US$5,000. The Delta Awards recognized several runners-up across key innovation pillars. Kadelwa Arts won in the Creative Industries Pillar, Innofuzz Ventures took the Sustainability Pillar, Procode Platforms claimed the Technology Pillar, and Ona Natural Oils secured victory in the Emerging Industries Pillar. Each of the runners-up received US$5,000.

The overall winners in each category were also unveiled. Evolve Design emerged at the top of the Creative Industries Pillar, winning US$10,000. Amalgamated Fresh Solutions triumphed in the Sustainability Pillar, also receiving US$10,000.

High Rise Africa Limited came first in the Innovative Tech Pillar, securing US$10,000, while Frying Protein took home US$10,000 for its win in the Emerging Industries Pillar. Amalgamated Fresh Solutions, which had already won in its category, was further crowned the Overall Winner of Value Creation, taking home an additional US$5,000. Organizers said the recognition reflects the competition’s commitment to fostering innovation and entrepreneurship with the potential to transform Zimbabwe’s economy.

Old Mutual Chief Executive Officer, Samuel Matsekete, emphasized the importance of SMEs in driving economic growth. “SMEs contribute over US$8.6 billion to Zimbabwe’s GDP and employ 4.8 million people,” he said. “Initiatives like the Value Creation Challenge are essential in supporting business growth and driving economic progress.”

Matsekete also stressed the need for resilience in entrepreneurship, sharing the story of an entrepreneur who had pivoted across different business ventures. “Sustainability and staying the course and being resilient is very important. We would like to promote resilience because that gives you, that anchors your growth into the future,” he noted.

This year’s program placed a strong emphasis on gender equity and inclusive innovation. Female-led enterprises accounted for 40% of the applicants, with eight of the top 20 finalists being women-led businesses. Matsekete applauded the progress but pushed for more. “I think we should aim to see 50% in the very near future,” he added.

British Ambassador to Zimbabwe, Pete Vowles, described the competition as a launchpad for ideas and innovation. “Whether you win an award or don’t win an award, this is a launchpad. It’s a launchpad for ideas, for impact and for the future of the Zimbabwean economy,” Vowles said. He went further to highlight the central role of young people in shaping the country’s future. “Young people are the now as well as the future. We’re here because we believe in the importance of economic growth. We believe in the importance of young people in driving economic growth here in Zimbabwe, but of course also across the world and in the UK.”

Vowles also stressed the importance of inclusion, noting that the program’s success in reaching rural communities and women entrepreneurs is critical for Zimbabwe’s economic development. He urged participants to continue pursuing their dreams, leveraging the networks built during the challenge, and exploring opportunities for collaboration with UK institutions.

Permanent Secretary of the Ministry of Women Affairs, Community, Small and Medium Enterprises Development, Dr. Mavis Sibanda, underscored the importance of innovation in business. “Every day, we have to innovate,” she said. She pointed out that the government of Zimbabwe recognizes the pivotal role played by entrepreneurs in national development. “As we endeavor to become an upper-middle-income society by 2030, small and medium enterprises lie at the bedrock of this vision. The sector has become a major contributor to economic growth.”

Dr. Sibanda further noted that the 2025 Value Creation Challenge stands as a powerful testament to the impact of collaboration between the public and private sectors.

“This collective effort is a shining example of how we can combine resources, expertise, and a shared vision to drive inclusive economic growth,” she said.