The First Factoring Company of Zimbabwe (FFCZ) has entered into a partnership with the Venture Capital Company of Zimbabwe (VCCZ) in a move expected to inject new financial products into the market. Under the deal VCCZ injected equity capital into FFCZ and is now a major shareholder.
FFCZ managing director Collen Magurah said the partnership with VCCZ is expected to bolster the company's chances of expanding its business and open avenues for greater networking among the wide array of contacts established over the years by VCCZ. "We see greater growth for the company from here onwards, more so given that we are now able to tap into the vast experience earned over the years by our partner," said Magurah.
VCCZ is an investment company set up specifically to provide equity finance to new and expanding business ventures in exchange for shareholding. It invests in viable business projects that exhibit great potential for wealth and employment creation.
