2 Zim women shine in regional competition
TWO Zimbabwean women reached the finals of the top Southern Africa business and innovation competition being run under the FemBioBiz Acceleration Programme aimed at empowering women through innovations in science and technology.
Jessica Dzvore, a student from Chinhoyi University of Technology won the first prize in the student category for producing a herbal ointment that can be used as a soothing rub for joint and muscle pains with little or no side effects.
She won a trophy at the FemBioBiz Grand Finale competition held recently in Cape Town, South Africa.
Theresa Nyava, a businesswoman, came third in the entrepreneurs’ category of the FemBioBiz regional competition for her innovations of low-cost and highly durable reusable sanitary pads.
She won R15 000 and qualified for the AWIEF Pitch N Grow competition.
The Southern Africa Network for Biosciences (SANBio) holds the competition to help develop leadership, technological and business skills in female-owned bio-businesses in 13 Sadc countries.
The programme aims to empower women-run enterprises in bio-sciences, targeting health and nutrition innovation.
Under the project initiative dubbed: “SANBio FemBioBiz Acceleration Programme Season 3,” more than 250 women were being supported in the four targeted areas that cover — innovative business, business growth,social enterprise and student entrepreneurship.
Dzvore is in the process of establishing Nakai Botanicals to produce alternative herbal ointments that soothe and ease joint, muscle and back pains.
Her focus is mainly on product development using indigenous plant species. The product has a market potential with the elderly and the general public who need soothing rubs for injuries and sprains.
Nakai Botanicals is still in the process of being registered as a company
Nyava runs the Sanitary Aid Zimbabwe, a social enterprise that produces low-cost and reusable sanitary pads that aim to support women and girls in rural communities to access them and enhance their menstrual hygiene.
“I developed this as a response to the high cost of disposable pads and tampons and the negative environmental impact they cause, worsened by poor sanitary waste disposal facilities in Zimbabwe,” she said.
“Our reusable pad is traded innovatively both on cash basis and through barter trade to allow women and girls in rural communities who are financially excluded to still access them.
“We also donate one pad for every purchase of 10 pads, which are then distributed to underprivileged girls and women through our charity wing called Sanitary Aid Zimbabwe Trust.”
FemBioBiz Acceleration Programme has since 2017 supported women in the SADC region to nurture their scientific ideas into viable businesses that contribute to economic growth of their respective countries.
“To me, these awards mean everything. They are equally crucial as they can open more doors in my entrepreneurial journey.
“They have added value to my business and they are a constant reminder that I need not to relax, but to work even harder.
“They are a challenge in a way,” said Nyava.
The SANBio initiative is supported by the governments of South Africa and Finland. Hivos is also a supporting partner.
In Zimbabwe, the programme is implemented in collaboration with the National Biotechnology Authority.
LEGISLATORS have called for the adequate funding of the Auditor- General’s Office, saying failure to do so would undermine Government’s thrust to fight corruption and promote good corporate governance in State entities.
They said the Auditor-General’s Office had been reduced to a training ground as experienced auditors were leaving for greener pastures.
Reports from the AG’s Office, led by Ms Mildred Chiri, have exposed a lot of financial impropriety, mismanagement, failure to follow laid down tender procedures in Government ministries, parastatals and local authorities.
Members of Parliament urged Treasury to reserve at least five percent of the total
Herald Reporter
THE Reserve Bank of Zimbabwe (RBZ) has said coins under $1 being rejected by some sectors of the economy can be exchanged for larger denominations at all registered banks.
The coins have not been demonitised although they are being rejected in the informal sector.
Some major shops have specific queues for coins below 50 cents which usually move slowly.
RBZ Governor Dr John Mangudya said there was no need to panic as all coins were still legal tender.
“It is common cause throughout the world that high levels of inflation make small denominations uneconomic to use. It is in this context that some businesses now find it bulky to transact in small value coins,” Dr Mangudya said.
Zimbabwe has coins amounting to $80 million in circulation, $42,7 million of which is in 1 cent, 5 cents, 10 cents, 25 cents and 50 cents.
“To ensure that the public does not lose value for their money, we are encouraging all businesses and the public to bank their coins so that they do not encounter the inconvenience that they may be facing from conducting business with bulky small denomination coins.
“The coins can also be exchanged for bigger denominations at banks,” said Dr Mangudya.
Asked why banks were still giving out money which depositors were finding hard to use, Dr Mangudya said: “Banks should serve their customers in line with their customers’ national budget for the AG, saying the $151 million allocated for the 2020 National Budget was not enough.
They said this last week in the National Assembly during debate on the Finance Bill which seeks to give legal effect on the various fiscal measures announced by Finance and Economic Development Minister Professor Mthuli Ncube in the 2020 National Budget.
Chegutu West MP Cde Dexter Nduna (Zanu-PF) said: “It is my proposal that five percent of revenue generated in all Government departments be allocated to the Auditor-General. They can use that five percent coming from those departments that are going to be audited as a vehicle, pedestal and platform for carrying out their mandate.”
Norton MP Mr Temba Mliswa (indepreferences as opposed to forcing them. Banks should deposit any cash, including soiled notes, that they have at the Reserve Bank. This is the standard practice throughout the world. The Reserve Bank is banker to banks and, therefore, no one, including banks, should ever feel that they will lose value for their money.”
Zimbabweans, especially those who commute have been ambushed repeatedly by kombi operators who have been rejecting various “small coins” under $1, although $1 and $2 coins are still being accepted.
This has triggered widespread rejection of the coins in the country’s informal sector where a larger percentage of daily transactions occur.
Kombi operators deny being architects of the confusion. Greater Harare Association of Commuter Operators secretary-general (GHACO) Mr Ngoni Katsvairo said service providers they rely on were refusing the coins.
“For us to stay in business, there are things we consistently buy. People who sell us diesel and spares are refusing coins from 50 cents and below, there is nothing we can do. We used to pay our workers in coins, but they reject the money as well saying it is not being accepted where they usually buy,” Mr Katsvairo said.
Zimbabwe has been battling protracted cash shortages which have seen people selling cash at premiums. Coins are cheaper than notes, but when buying foreign currency on the black market, the premiums are higher when using coins. The RBZ is in the process of increasing the amount of notes and coins in circulation. pendent) said the office was spending resources in sub-contracting audit firms owing to a staff shortage.
“If you read the ( AG’s) report, they require 380 staff (members) and they have got 305,” he said
“There is a shortfall of 75, yet there is so much money spent in terms of sub-contracting work to other companies.
“I would like the minister to consider how much money is spent sub-contracting companies vis-à-vis putting it into the office.
“It really does not make any sense for you to give the money to sub-contractors.”
Gutu East MP Cde Berita Chikwama (Zanu-PF) said there was need to provide the office with adequate resources to efficiently discharge its duties.
“Some of the ministries are not audited for years because of lack of funds,” she said.
“We went to Zambia and visited the Auditor-General’s Office and we saw that the office was well-staffed and they were doing their job efficiently, even going to the lowest levels of society where you could also meet their staff in rural areas doing their job.
“Here in Zimbabwe, external firms are engaged, such as Ernst and Young.”
In response, Minister Ncube said Treasury increased the budget vote from $20 million this year to $151 million next year.
“We budgeted $20 million for the Auditor-General’s Office in 2019 and so far as of September, they had used $8 million, but I am sure they have used more now,” he said.
“I can assure you that in terms of budget, they have not run out of money.
“If they have run out of budget, then no one has briefed me about it. So we have been very diligent in making sure that they get their budget on time and stay within their budget. There is no issue around their budget.”
Marondera Central MP Mr Caston Matewu ( MDC- Alliance) said the reason why the AG used less money was that Treasury was in the habit of disbursing the money late.
“They ended up not doing all the audits that they wanted to do.
“The problem is within the Treasury, that of not dispensing money on time.
“I implore the minister to give them the money that they need and if we can agree on $300 million as a starting point today, that would be good,” said Mr Matewu, who is a member of the Public Accounts Committee in which the Auditor-General sits.