Yesterday I found myself 150 kilometres away from Harare! What a fabulous journey, this reminded me of my first journey to Tete last during the Easter Holidays. Looks like every year around this time I look East!
So what was the business in Mutoko?
I was involved in a swap deal with a relative of mine who wanted one of my small tucks in exchange for land. I was initially sceptical of this deal because I honestly have no business in Mutoko. The little knowledge that I have of this place is when last year we stopped in Mutoko to refill fuel at the Total Service Station, the stopover lasted 10 minutes. So yesterday witnessed me and my wife in this beautiful place and I was there for more than 3 hours. We were fortunate to have someone with inside information about this place.
General Economic Conditions
The area is affected by the current liquidity challenges that are affecting the rest of the country. There is evidence of business struggling with a number of closed shops. Commercial banks such as CBZ closed shop and the only commercial bank at the centre is Agribank.
Real Estate Sector
More land is being serviced for residential stands and this has resulted in massive expansion which defies the performance of the economy. Will need more information and research on what is driving this expansion. The number of new homes constructed over the past few years is very high. I also had a chance to visit one of the newest residential area called Mutandihwa where stands range from 800-2000 square metres. Iam not sure about the price ranges but I took the following phone numbers for the benefit of our members:+263773994686 and +263772237460.
The increased activity in the real estate sector has led to the growth in the Hardware Shops where business is brisk. We also witnessed 2 churches constructing massive church buildings.
And the Opportunities?
This town would suit someone who is looking into the future, someone who can look beyond the current challenges. The first question you may need to answer is what attracted commercial banks to set up in this area in the first place. It is obvious that at one time it made sense to set up shop in the area. At one time business was so brisk that one commercial bank was not enough for this area.
So they came because there was massive potential but later on business became unprofitable. So if you are patient and got a positive mind set then this area presents a lot of opportunities in many sectors. The real estate is the obvious one, we do not have population figures but estimate that since 2009 the area has grown by 100% with new houses being built every year. Opportunities abound for construction companies and hardware shops in this area.
Vehicles Servicing
We did not see a main shop selling vehicle parts, maybe we need to research more in future but we did not see visibility of this sector in the town. Chance for ‘makava eku Harare’ to research and invest lol because the population of vehicles in high and the only area we witnessed that has auto related products is the Total Service Station that was selling vehicle tyres. It is easy to overlook this area on paper but connect this area with the massive residential area expansion. A new service station is being constructed along the Mutoko-Harare Highway at the centre and this shows that someone has seen the potential presented by vehicles in this town.
Outdoor Leisure Centre
Witnessed an outdoor centre near the town which is in a ramshackle state, perhaps related to the general economic situation currently prevailing in the country? We feel that Yes the Economy plays a huge part BUT what is required is innovation. Wanted is someone who can bring a Megga 2 concept, A Paramount Signature concept to this centre and target 2 clients-travelling motorists along the highway and the locals. Mix the 2 clients and not have to worry about localised economic conditions.
Micro Finance Institutions
The gap created by the exit of the commercial banks means that micro finance institutions should consolidate market presence. ZBIN to carry out more researches in this area.
More Opportunities?
More opportunities to be shared with our registered members. Remember to register next week and access more opportunities. In future we will be providing detailed information so that you can make informed investment decisions.
Our Star
Our investment star has to be firstpack, they have invested in a business sector that is expanding-books, stationery and IT related products.
Getting Ready
So this is what is happening 150 kilometres to the East of Harare, massive real estate expansion which is going on quietly and not being featured. Our source told us that the Council is looking for more investors especially those interested in setting up manufacturing industries. The Toko People are also asking why Hararians take granite stones and transport it to the Capital? Why not set up stone processing plants in Mutoko and transport finished products? Chances for Diasporans to look at innovative ways of solving this area and help create employment for people living in this area. Application is simple, go directly to the council and inquire, no need for middlemen!
So whilst current opportunities are limited it is the future that some of us are interested. I do not even have money to develop the area that I acquired but got my eyes firmly fixed on the future. The future of this area is unlimited and so should be put on your investment radar.
Do not forget to register as a ZBIN Member next on Monday.
