Kiyapili Sibanda, Business Reporter
ONE of Bulawayo’s oldest clothing retailing shop, Esats, has invested about $250 000 in setting up its new mini-shopping complex that will accommodate at least seven other shops.
Esats director, Mr Mohamed Esats said the whole project was set to create more space for the local community to conduct business.
“The whole investment put up here was at a tune of $250 000. We want this project to benefit the local people even though we are experiencing economic challenges. I know it will take time to recover the money but we are happy to be supporting the Zim Asset in terms of job creation in the city,” said Mr Esats.
He said although there were some people who were sceptical about investing in such projects especially at a time when the country is experiencing economic challenges, there were still some sectors that needed buildings to operate from while projections also point to recovery of the economy in the future.
Mr Esats also said at least 140 applicants intending to occupy space in the mini-complex have been interviewed, a sign that some businesses were still alive.
“Some may think it is bad timing investing an amount like $250 000 in this kind of economy we are operating in. But there are sectors that when you invest that kind of amount you will never go wrong. For example, people need jobs, they need space to operate from so I think the future is bright.
“We also managed to interview more than 140 applicants who wanted to rent the premises and now one thing I can tell you is that the entire shopping complex has been taken up,” he said.
Mr Esats added that although there were challenges in the economy that was affecting every business, the way people have embraced the use of plastic money has helped stimulate growth.
He however, said procurement of Point of Sale machines was still expensive and in some cases businesses were taking up to six months to acquire the machines.
Esats clothing mainly deals in school wear, kitchen ware, linen, ladies’ hair and luggage. -@Kiyaz_Cool