Diversified financial services group, Old Mutual Zimbabwe and British Council, have collaborated on an entity called Eight2five Value Creation Challenge, which focuses on supporting businesses and ideas that provide innovative and sustainable solutions to socio-economic challenges in the country.
Speaking at the launch OLD Mutual group chief executive officer Jonas Mushosho said the engagement of youths in such an initiative will see the beginning of ideas that will address loopholes of the economy.
“The new entity focuses on driving innovation in existing industry and creating new enterprises. Eight2Five will run innovation challenges, incubate new ideas accelerate and grow new businesses provide co-working spaces,” he said.
The initiative is deemed valuable following various successful initiatives progressed in the year 2016.
“An exciting one started 10 years ago when as an organisation we decided to tap into the ideas of our young employees in creating value for business.
We found the initiative very valuable in the year 2016, the group partnered with Udugu Institute to create B2C, a co-working space and incubator at one of Old Mutual’s properties.
“There have been successful stories from the space including Golix (a bit-coin trading platform) and 263 chat a social media company,” said Mr Mushosho.
The initiative is focused on bringing innovative ideas that will address challenges in data analytics, emerging technologies and climate change.
Value creation is the reason why organisations exist and it is also probably the single driving force for economic growth and prosperity.
The African continent has the fastest growing generation of young people and Old Mutual has stepped in to nurture the upcoming generation.