Microfinance Boss Urges Youthful Entrepreneurs to Sharpen Negotiation Skills

MoneyMart Finance chief executive Ethel Mupambwa has called on young business owners to strengthen their negotiating abilities and carefully choose partners who can support their long-term ambitions.

She delivered the advice while addressing women innovators from the Old Mutual Eight2Five Innovation Hub during a luncheon held in Harare last week.

The engagement came after Mupambwa pledged US$500 each to three women who presented their ideas at the Ideas Tank during the In Conversation with Trevor Ideas Festival in Nyanga. The initiative is designed to spotlight new business concepts that can uplift communities.

The beneficiaries — Noreen Musa Mangena of Zela Enterprises, Isabel Mhlandhla, co-founder of Flying Protein, and Jennifer Makusha, CEO of Innofuz Venture — are expected to use the funds to strengthen their operations and improve working capital.

Reflecting on her own entrepreneurial path, Mupambwa said effective negotiation had been central to navigating difficult phases in her business journey.

“The first microfinance venture I started collapsed, and that experience taught me the value of negotiating,” she said. “When I commit to bringing a cheque, I will bring it. I negotiated every step, moving from one credit facility to another to honour my obligations.”

She emphasized that the ability to negotiate smartly often determines whether a business survives.

Mupambwa also urged the budding entrepreneurs to be intentional about the people they bring into their teams, saying supportive employees and partners are crucial.

“As your businesses grow and you begin hiring, some people will stand with you. Learn to identify those who will protect your back. Ask about their passion and invest in them,” she said. “Business has its politics — surround yourself with people who stay loyal.”

She added that the creativity and determination exhibited by the Ideas Tank participants inspired her decision to personally fund the three young women.

Another key message she shared was the importance of authenticity: “Stay true to who you are. I’ve remained myself even as MoneyMart has expanded — those lessons from past failure shaped me.”

The Eight2Five Innovation Hub continues to grow its footprint, supporting more than 8,000 entrepreneurs, incubating 140 start-ups, and cultivating partnerships that promote sustainable development. Female participation at the hub has risen from 15% to 40% this year.