Econet Wireless' mobile money service Ecocash has launched a Mastercard debit card linked to subscriber's Ecocash wallets. This will allow subscribers to make international payments more easily. The debit card aims to reduce cash dependency and increase financial inclusion through electronic payments in Zimbabwe and beyond. Rival operator Telecel also recently launched its own debit card linked to its Telecash mobile money service. Speakers at the Ecocash debit card launch highlighted how the card will increase transaction speeds and convenience by allowing money to be moved between accounts digitally using the card. The Ecocash and Telecel debit cards indicate Zimbabwe is moving towards becoming a cashless economy.
UMFCCI-NCRA Monthly Business Report Written by UMFCCI Administrator // July...MYO AUNG Myanmar
- Myanmar's telecommunications sector has grown rapidly since 2013 when foreign operators Ooredoo and Telenor entered the market, bringing prices for SIM cards and mobile access down significantly.
- This has enabled a new generation of young tech entrepreneurs in Myanmar to develop over 100 mobile applications locally, including social networks, messaging, and games.
- One example is Nex, a startup founded by 24-year-old Ye Myat Min that has created an anonymous social media app for university students called Hush, which has over 7,000 active users despite infrastructure and internet speed challenges.
- Other popular local apps include chat apps that allow users to communicate in local languages with Myanmar characters and stickers,
This document discusses the customer journey toward regular mobile money usage based on a presentation given by Phil Levin of GSMA. It finds that while industry is good at generating awareness and registering users, it struggles to drive regular activity. Using data from one mobile money operator, it shows it can take a new user around 10 months to complete their 6th transaction. However, it also provides encouragement, noting the time between subsequent transactions decreases rapidly, revenue from customers increases over time, and customers adopt new uses cases. It concludes by offering five ideas for shortening the journey to regular usage, such as shifting incentives to activity and understanding barriers through customer conversations and data analysis.
A new era for Mobile Financial Services in french speaking africaLandry DJIMPE
This document, focusing on french-speaking Africa, shows an overview of regulatory updates on mobile financial services that resulted from a shift in customers' demands from mere P2P to more added-value services like loans, savings, insurance, wealth management, etc. This also brought up a shift in the business model of mobile money service providers, redefining the role of different stakeholders in the value chain : banks, mobile network operators, fintech, MFIs, etc.
This document discusses optimizing mobile electronic signatures. It describes the GSMA's mIdentity program which aims to promote the development of identity solutions on mobile. The program identifies opportunities for mobile identity and stimulates industry activity and scaling of services. The document also discusses Moldcell's launch of a mobile ID program in Moldova in partnership with the GSMA and government. It outlines best practices for maximizing the opportunity of mobile identity by developing diverse services, facilitating access, and driving adoption among both users and service providers.
A digital copy of the Business News 24 (24 June edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 1530hrs to give a summary of the day's business news.
A digital copy of the Business News 24 (18 July edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 1530hrs to give a summary of the day's business news.
The document discusses Zimbabwe's efforts to digitize its border agencies like ZIMRA in line with establishing "Smart Corridors" within the SADC region. This is aimed at reducing time spent clearing customs and boosting regional and international trade. Ambassador Bimha notes that electronic document submission and pre-clearance at borders can significantly reduce trade costs and impact competitiveness. Equipment donated by ACBF is expected to help automate border management systems and simplify customs procedures. Experts believe this can lead to single-window applications and the development of Smart Corridors with most clearance done electronically.
Indo Africa Times, a weekly newspaper has its key intend to create extensive awareness amongst people about Africa and India concerning different sectors like economy, politics, culture, fashion, sports and many more. It is our sincere endeavor to bridge the information gap between Africa and India by endowing our readers with updated and latest developments occurring in both the countries.
UMFCCI-NCRA Monthly Business Report Written by UMFCCI Administrator // July...MYO AUNG Myanmar
- Myanmar's telecommunications sector has grown rapidly since 2013 when foreign operators Ooredoo and Telenor entered the market, bringing prices for SIM cards and mobile access down significantly.
- This has enabled a new generation of young tech entrepreneurs in Myanmar to develop over 100 mobile applications locally, including social networks, messaging, and games.
- One example is Nex, a startup founded by 24-year-old Ye Myat Min that has created an anonymous social media app for university students called Hush, which has over 7,000 active users despite infrastructure and internet speed challenges.
- Other popular local apps include chat apps that allow users to communicate in local languages with Myanmar characters and stickers,
This document discusses the customer journey toward regular mobile money usage based on a presentation given by Phil Levin of GSMA. It finds that while industry is good at generating awareness and registering users, it struggles to drive regular activity. Using data from one mobile money operator, it shows it can take a new user around 10 months to complete their 6th transaction. However, it also provides encouragement, noting the time between subsequent transactions decreases rapidly, revenue from customers increases over time, and customers adopt new uses cases. It concludes by offering five ideas for shortening the journey to regular usage, such as shifting incentives to activity and understanding barriers through customer conversations and data analysis.
A new era for Mobile Financial Services in french speaking africaLandry DJIMPE
This document, focusing on french-speaking Africa, shows an overview of regulatory updates on mobile financial services that resulted from a shift in customers' demands from mere P2P to more added-value services like loans, savings, insurance, wealth management, etc. This also brought up a shift in the business model of mobile money service providers, redefining the role of different stakeholders in the value chain : banks, mobile network operators, fintech, MFIs, etc.
This document discusses optimizing mobile electronic signatures. It describes the GSMA's mIdentity program which aims to promote the development of identity solutions on mobile. The program identifies opportunities for mobile identity and stimulates industry activity and scaling of services. The document also discusses Moldcell's launch of a mobile ID program in Moldova in partnership with the GSMA and government. It outlines best practices for maximizing the opportunity of mobile identity by developing diverse services, facilitating access, and driving adoption among both users and service providers.
A digital copy of the Business News 24 (24 June edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 1530hrs to give a summary of the day's business news.
A digital copy of the Business News 24 (18 July edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 1530hrs to give a summary of the day's business news.
The document discusses Zimbabwe's efforts to digitize its border agencies like ZIMRA in line with establishing "Smart Corridors" within the SADC region. This is aimed at reducing time spent clearing customs and boosting regional and international trade. Ambassador Bimha notes that electronic document submission and pre-clearance at borders can significantly reduce trade costs and impact competitiveness. Equipment donated by ACBF is expected to help automate border management systems and simplify customs procedures. Experts believe this can lead to single-window applications and the development of Smart Corridors with most clearance done electronically.
Indo Africa Times, a weekly newspaper has its key intend to create extensive awareness amongst people about Africa and India concerning different sectors like economy, politics, culture, fashion, sports and many more. It is our sincere endeavor to bridge the information gap between Africa and India by endowing our readers with updated and latest developments occurring in both the countries.
Telecel has launched Zimbabwe's first mobile debit card called the Telecash Gold Card which allows subscribers to make transactions at POS terminals and withdraw cash from ATMs. The card offers direct integration between mobile money and retail services and aims to improve financial inclusion by extending the reach of mobile financial services to rural areas without agents. Telecel plans to expand its mobile financial services into the diaspora market and has started discussions with money transfer agents in major corridors like South Africa, the UK, Australia and the USA.
The World Bank says Zimbabwe can use the Rapid Results Approach (RRA) to help expedite solutions to its current cash shortage problems. The RRA is a method used to accelerate organizational change through 100-day goal-setting. The government has completed two phases of an RRA program focused on improving ease of doing business. The World Bank country manager says Zimbabwe can transition more quickly to e-commerce by applying the RRA methodology to address cash shortages and encourage electronic payments. The article provides details on Zimbabwe's cash shortage challenges and measures already taken by the central bank to address the problem and incentivize electronic payments and exports.
A digital copy of the BH24 (12 January 2016 edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 15:30hrs to give a summary of the day's business news.
A digital copy of the Business News 24 (12 June edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 1530hrs to give a summary of the day's business news.
MFIs loaned $187m in 2015, but fell into consumptive lending trap Zimpapers Group (1980)
- Microfinance institutions (MFIs) in Zimbabwe have largely failed to improve small businesses as a large portion of their loans have gone towards consumption rather than productive sectors.
- Statistics from the Reserve Bank of Zimbabwe show that between 2013-2015, MFI loans were dominated by consumptive lending rather than productive sector funding as was expected.
- In 2015, MFIs loaned a total of $187.1 million but only $85.6 million (45.7%) went to productive sectors while the remaining $101.5 million (54.2%) were consumptive loans.
The National Bakers Association of Zimbabwe (NBAZ) has lobbied the Ministry of Finance and Ministry of Industry and Commerce for better terms on the second phase of the Distressed Marginalized Areas Fund (DIMAF 2), specifically an interest rate lower than 10% and a loan term of at least 5 years. NBAZ president Mr. Givemore Mesoemvura said that many bakeries defaulted on loans from the initial DIMAF due to the high interest rates and short terms. He is requesting a 7% interest rate and 5 year term for bakeries accessing DIMAF 2 funds.
A digital copy of the Business News 24 (25 July edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 1530hrs to give a summary of the day's business news.
A digital copy of the BH24 Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 15:30hrs to give a summary of the day's business news.
A digital copy of the Business News 24 (18 June edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 1530hrs to give a summary of the day's business news.
Standard Chartered Bank plans to launch mobile and online banking platforms in 8 African countries including Zimbabwe in the first half of 2016. The bank aims to grow long-term retail banking revenues in Africa 3-4 times faster than regional economic growth. This strategy contrasts with European rivals retreating from Africa due to falling commodity prices and weak currencies. StanChart is expanding its physical presence as well by adding branches in Nigeria, as it seeks to protect and grow its market share on the continent.
A digital copy of the Business News 24 (11 June edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 1530hrs to give a summary of the day's business news
A digital copy of the Business News 24 (09 September edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 1530hrs to give a summary of the day's business news.
We are up to date with licence fee payments, says Telecel ZimbabweZimpapers Group (1980)
A digital copy of the Business News 24 (05 May 2015 edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 1530hrs to give a summary of the day's business news.
A digital copy of the Business News 24 (22 July edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 1530hrs to give a summary of the day's business news.
The document discusses how displaced diamond mining companies in Zimbabwe still owe former employees salaries ranging from six to 14 months, despite the companies still being operational at the time and producing diamonds. The mining union representative reported many issues of unpaid salaries and discrepancies in pay between companies. The failure of the companies to pay salaries while operational could indicate financial issues or misappropriation of funds.
The document discusses Mastercard's HomeSend network, which connects telecom partners, money transfer operators, and over 24,000 financial institutions to provide domestic and international money transfers via cards, mobile, and web. It enables transfers between banks, mobile wallets, and other payment providers in real-time through a single connection on an open network. The document also provides two case studies on how the HomeSend network has enabled a national ID program in Nigeria to promote financial inclusion, and allowed cross-border money transfers between MTN and Airtel customers in Ivory Coast and Burkina Faso.
The document discusses Mastercard's HomeSend network, which connects telecom partners, money transfer operators, and over 24,000 financial institutions to provide domestic and international money transfers via cards, mobile, and web. It enables transfers between banks, mobile wallets, and other payment providers in real-time through a single connection on an open network. The document also provides two case studies on how the HomeSend network has enabled a national ID program in Nigeria to promote financial inclusion, and allowed cross-border money transfers between MTN and Airtel customers in Ivory Coast and Burkina Faso.
Greetings,
Attached FYI ( NewBase Special 16 March 2015 ) , from Hawk Energy Services Dubai . Daily energy news covering the MENA area and related worldwide energy news. In todays’ issue you will find news about:-
• Qatar: Energy exports term sales to help Qatar ‘partially shield’ its budget from price fall, says IIF
• UAE :DEWA announces Shams Dubai to regulate generation of solar energy in buildings and connection to its grid Iraq: Egyptian General Petroleum Corporation Farms Into Block 9
• Iraq: Oil majors companies offer to cut 2015 spending
• China’s plan to grow cleaner, but economical difficulties a head
• Oil prices drop again and countries build up inventories
• Oil Falls to 6-Year Low as Dollar Holds Gain; China Shares Rally
• U.S. Seeks More Crude for Strategic Reserve After 2014 Sale
• IEA Sees China, India Filling Strategic Reserves With Cheap Oil
As this daily news periodical is free for you, we would appreciate your actions to send to all interested parties that you may wish. Also note that if you or your organization wish to include your own article or advert in our circulations, please send it to :-
khdmohd@hotmail.com or khdmohd@hawkenergy.net
Best Regards.
Khaled Al Awadi
Energy Consultant & NewBase Chairman - Senior Chief Editor
MS & BS Mechanical Engineering (HON), USA
Emarat member since 1990
ASME meme since 1995
Hawk Energy since 2010
Air Namibia is advertising new flight routes from Harare, Zimbabwe to Accra, Ghana and Lagos, Nigeria starting on June 29, 2018. Customers are encouraged to book flights soon to avoid disappointment as seats are selling out. Contact information is provided for booking individual flights or group fares by telephone, email, online, or through a travel agent.
In this edition, you will be enlightened on the cornerstone of international aviation which is the Bilateral Air Service Agreement, commonly referred to as BASA, Africa’s plan for a common airspace and taken on a tour of the Eastern Highlands and the new sky
More Related Content
Similar to Ecocash subscribers get access to Mastercard payment platform
Telecel has launched Zimbabwe's first mobile debit card called the Telecash Gold Card which allows subscribers to make transactions at POS terminals and withdraw cash from ATMs. The card offers direct integration between mobile money and retail services and aims to improve financial inclusion by extending the reach of mobile financial services to rural areas without agents. Telecel plans to expand its mobile financial services into the diaspora market and has started discussions with money transfer agents in major corridors like South Africa, the UK, Australia and the USA.
The World Bank says Zimbabwe can use the Rapid Results Approach (RRA) to help expedite solutions to its current cash shortage problems. The RRA is a method used to accelerate organizational change through 100-day goal-setting. The government has completed two phases of an RRA program focused on improving ease of doing business. The World Bank country manager says Zimbabwe can transition more quickly to e-commerce by applying the RRA methodology to address cash shortages and encourage electronic payments. The article provides details on Zimbabwe's cash shortage challenges and measures already taken by the central bank to address the problem and incentivize electronic payments and exports.
A digital copy of the BH24 (12 January 2016 edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 15:30hrs to give a summary of the day's business news.
A digital copy of the Business News 24 (12 June edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 1530hrs to give a summary of the day's business news.
MFIs loaned $187m in 2015, but fell into consumptive lending trap Zimpapers Group (1980)
- Microfinance institutions (MFIs) in Zimbabwe have largely failed to improve small businesses as a large portion of their loans have gone towards consumption rather than productive sectors.
- Statistics from the Reserve Bank of Zimbabwe show that between 2013-2015, MFI loans were dominated by consumptive lending rather than productive sector funding as was expected.
- In 2015, MFIs loaned a total of $187.1 million but only $85.6 million (45.7%) went to productive sectors while the remaining $101.5 million (54.2%) were consumptive loans.
The National Bakers Association of Zimbabwe (NBAZ) has lobbied the Ministry of Finance and Ministry of Industry and Commerce for better terms on the second phase of the Distressed Marginalized Areas Fund (DIMAF 2), specifically an interest rate lower than 10% and a loan term of at least 5 years. NBAZ president Mr. Givemore Mesoemvura said that many bakeries defaulted on loans from the initial DIMAF due to the high interest rates and short terms. He is requesting a 7% interest rate and 5 year term for bakeries accessing DIMAF 2 funds.
A digital copy of the Business News 24 (25 July edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 1530hrs to give a summary of the day's business news.
A digital copy of the BH24 Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 15:30hrs to give a summary of the day's business news.
A digital copy of the Business News 24 (18 June edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 1530hrs to give a summary of the day's business news.
Standard Chartered Bank plans to launch mobile and online banking platforms in 8 African countries including Zimbabwe in the first half of 2016. The bank aims to grow long-term retail banking revenues in Africa 3-4 times faster than regional economic growth. This strategy contrasts with European rivals retreating from Africa due to falling commodity prices and weak currencies. StanChart is expanding its physical presence as well by adding branches in Nigeria, as it seeks to protect and grow its market share on the continent.
A digital copy of the Business News 24 (11 June edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 1530hrs to give a summary of the day's business news
A digital copy of the Business News 24 (09 September edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 1530hrs to give a summary of the day's business news.
We are up to date with licence fee payments, says Telecel ZimbabweZimpapers Group (1980)
A digital copy of the Business News 24 (05 May 2015 edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 1530hrs to give a summary of the day's business news.
A digital copy of the Business News 24 (22 July edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 1530hrs to give a summary of the day's business news.
The document discusses how displaced diamond mining companies in Zimbabwe still owe former employees salaries ranging from six to 14 months, despite the companies still being operational at the time and producing diamonds. The mining union representative reported many issues of unpaid salaries and discrepancies in pay between companies. The failure of the companies to pay salaries while operational could indicate financial issues or misappropriation of funds.
The document discusses Mastercard's HomeSend network, which connects telecom partners, money transfer operators, and over 24,000 financial institutions to provide domestic and international money transfers via cards, mobile, and web. It enables transfers between banks, mobile wallets, and other payment providers in real-time through a single connection on an open network. The document also provides two case studies on how the HomeSend network has enabled a national ID program in Nigeria to promote financial inclusion, and allowed cross-border money transfers between MTN and Airtel customers in Ivory Coast and Burkina Faso.
The document discusses Mastercard's HomeSend network, which connects telecom partners, money transfer operators, and over 24,000 financial institutions to provide domestic and international money transfers via cards, mobile, and web. It enables transfers between banks, mobile wallets, and other payment providers in real-time through a single connection on an open network. The document also provides two case studies on how the HomeSend network has enabled a national ID program in Nigeria to promote financial inclusion, and allowed cross-border money transfers between MTN and Airtel customers in Ivory Coast and Burkina Faso.
Greetings,
Attached FYI ( NewBase Special 16 March 2015 ) , from Hawk Energy Services Dubai . Daily energy news covering the MENA area and related worldwide energy news. In todays’ issue you will find news about:-
• Qatar: Energy exports term sales to help Qatar ‘partially shield’ its budget from price fall, says IIF
• UAE :DEWA announces Shams Dubai to regulate generation of solar energy in buildings and connection to its grid Iraq: Egyptian General Petroleum Corporation Farms Into Block 9
• Iraq: Oil majors companies offer to cut 2015 spending
• China’s plan to grow cleaner, but economical difficulties a head
• Oil prices drop again and countries build up inventories
• Oil Falls to 6-Year Low as Dollar Holds Gain; China Shares Rally
• U.S. Seeks More Crude for Strategic Reserve After 2014 Sale
• IEA Sees China, India Filling Strategic Reserves With Cheap Oil
As this daily news periodical is free for you, we would appreciate your actions to send to all interested parties that you may wish. Also note that if you or your organization wish to include your own article or advert in our circulations, please send it to :-
khdmohd@hotmail.com or khdmohd@hawkenergy.net
Best Regards.
Khaled Al Awadi
Energy Consultant & NewBase Chairman - Senior Chief Editor
MS & BS Mechanical Engineering (HON), USA
Emarat member since 1990
ASME meme since 1995
Hawk Energy since 2010
Air Namibia is advertising new flight routes from Harare, Zimbabwe to Accra, Ghana and Lagos, Nigeria starting on June 29, 2018. Customers are encouraged to book flights soon to avoid disappointment as seats are selling out. Contact information is provided for booking individual flights or group fares by telephone, email, online, or through a travel agent.
In this edition, you will be enlightened on the cornerstone of international aviation which is the Bilateral Air Service Agreement, commonly referred to as BASA, Africa’s plan for a common airspace and taken on a tour of the Eastern Highlands and the new sky
Treasury directs ZINARA to disburse 70pc of funds for rehabilitationZimpapers Group (1980)
- The Zimbabwean equities market extended gains from the previous day, with the industrial index rising 1.32% to 95.28.
- Major stocks like Delta Beverages, Innscor, Econet, Colcom, CFI and Nampak saw share price increases, helping drive the overall market upward.
- Only Barclays and Old Mutual saw share price declines on the day.
- The mining index remained flat at 26.24 as several mining stocks stayed unchanged from their previous closing prices.
The article discusses the Zimbabwe Consolidated Diamond Company (ZCDC), which has been operating without a proper legal framework. The permanent secretary in the Ministry of Mines admitted that unlike other state entities, no act of parliament established the ZCDC. It was instead registered as a company under the Companies Act. There are also concerns about the improperly constituted board of the ZCDC and some controversial decisions that have been made. The parliamentary committee questioned the legitimacy of the board's actions in firing employees and replacing them.
Nigeria's central bank announced it will abandon its 16-month peg of the naira to the U.S. dollar and move to a "purely market-driven" system of foreign exchange trading starting next week. Economists estimate the naira's fair value under a float would be between 280 to 300 naira per dollar, compared to the current black market rate of around 370, and the change aims to ease severe dollar shortages caused by lower oil revenues. The central bank will still be able to inject dollars and influence the exchange rate within its foreign reserves, but will no longer target a specific
Nigeria's central bank announced it will abandon its 16-month peg of the naira to the U.S. dollar and move to a "purely market-driven" system of foreign exchange trading starting next week. Economists estimate the naira's fair value under a float is between 280 to 300 naira per dollar, compared to the current black market rate of around 370, and the change aims to ease severe dollar shortages caused by low oil prices. The central bank will still be able to inject dollars and influence the exchange rate within reserves, but no longer has an explicit target rate for the
The Credit Reference Bureau of Zimbabwe is set to be fully operational by July 31st, with a Czech firm having made significant progress in setting up the necessary soft infrastructure at a cost of $1.8 million to the Reserve Bank of Zimbabwe. The CRB will enhance borrower verification and help banks assess credit risk and reduce non-performing loans. A number of consultative meetings have been held with banks to define the necessary data to be collected and reports generated by the new system.
The National Railways of Zimbabwe (NRZ) requires $400 million in short-term funding for recapitalization. This funding will go toward acquiring new machinery and rehabilitating existing infrastructure to increase the railway's carrying capacity from the current 3.4 million tonnes to 7.6 million tonnes. The funding will also be used to procure 15 new locomotives and 1000 new wagons, as securing this funding would allow NRZ to improve services, increase revenues, and return to profitability.
SeedCo, a listed seed producer in Zimbabwe, reported a 3% increase in profit after tax for the fiscal year ending March 31, 2016 compared to the previous year, despite challenges from drought, low commodity prices, and reduced government programs. The company's turnover remained unchanged at $96 million year-over-year. SeedCo was able to increase efficiency and offer competitive pricing, which helped increase its gross margin by 7% during the period. The company plans to focus on growing its ultra-early maize seed varieties to meet increasing demand given changing weather patterns.
Zimbabwe's corporate governance weaknesses have contributed to its poor ratings in international surveys, according to an official. Improving corporate governance could significantly boost Zimbabwe's rankings. The official noted that past governance failures have resulted in the current negative perceptions, and that while some methodology reservations exist, the ratings still factor into potential investors' considerations. The government is working to enhance corporate governance in the public sector through various initiatives.
The Confederation of Zimbabwe Industries has urged the government to introduce Local Content Regulation for all sectors of the economy in order to boost local production. The regulation would give preference to local producers over imports for some goods and services. It would also require manufacturers to include a minimum percentage of local inputs in their production. A CZI economist said the regulation could increase competitiveness by promoting local products first and supporting local employment and procurement.
Isabel dos Santos, the billionaire daughter of Angola's President, has been appointed as the new CEO of state energy firm Sonangol and has pledged to overhaul the company to improve efficiency and margins amid low oil prices. She plans to split Sonangol into three units and increase transparency to international standards in order to generate more revenue for Angola, which relies heavily on oil exports. Dos Santos aims to offset the "huge" economic impact of depressed oil prices through the reforms at Sonangol.
The Zimbabwe Flight Crews Association said that the government is not adequately protecting Air Zimbabwe and is instead licensing competitors to service the same routes as Air Zimbabwe, hurting its ability to compete; they argue the national airline should have first right of refusal on routes. Captain Ottis Shonai stated that new airlines have been given licenses to fly the same routes as Air Zimbabwe, which does not happen elsewhere, and that Air Zimbabwe needs route protection from the government as other national airlines receive.
Government has released $500,000 in funding to support the hosting of this year's Sanganai/Hlanganani World Tourism Expo in Bulawayo after the Zimbabwe Tourism Authority faced financial challenges and was contemplating postponing or cancelling the event. The acting ZTA chief executive said the funds will ensure the expo is a success. Over 160 local tourism companies and 28 international exhibitors from countries like Botswana, South Africa and India have registered to participate. International buyers from Europe, Asia, Africa, the Americas and the Middle East are also expected to attend the expo from June 16-18, 2016.
Fastjet Zimbabwe recorded $0.3 million in revenue since commencing operations in October 2015, with an operating loss of $4 million, as the new airline began flights between Harare, Victoria Falls, and Johannesburg. The performance in the first few months of operations was described as "encouraging" by Fastjet, with 91% of flights arriving on time. However, the Zimbabwe operation was not included in Fastjet's key performance indicators for 2015 as it only became operational in October.
- The Beitbridge Hotel in Zimbabwe, owned 40% by the National Social Security Authority (NSSA), has incurred over $2 million in losses since opening in 2014 and has now been closed by majority owner Rainbow Tourism Group.
- An audit before construction found the hotel would be loss-making, but NSSA insisted it proceed anyway. NSSA's investments are under scrutiny as costs for the Beitbridge Hotel ballooned from an initial $3 million budget to over $49 million.
- The closure puts focus again on NSSA's investment strategies that have put pensioners' funds at risk through apparent non-viable projects like the Beitbridge Hotel.
Tongaat Hulett's sugar production in Zimbabwe declined 7.4% to 412,000 tonnes for the year ending March 31, 2016. Sales also declined, falling to 403,000 tonnes compared to 491,000 tonnes the previous year. The company reported its Zimbabwe division's financial performance was negatively impacted by lower sugar production and export underperformance. Looking ahead, Tongaat Hulett forecast sugar production could rise up to 12% to 1.15 million tonnes in the new financial year depending on rainfall.
Industry, Finance ministries working on Zimbabwe tariff order for EPA Zimpapers Group (1980)
The Zimbabwean government is working to establish the necessary legal framework to fully implement an Economic Partnership Agreement (EPA) signed with the European Union in 2009, which establishes a free trade area between the EU and Zimbabwe. The EPA grants duty-free access for trade between the EU and Zimbabwe, and Zimbabwe is expected to progressively liberalize 80% of imports from the EU by 2022. Government officials are working with the Ministry of Finance to gazette a Zimbabwe tariff order to pave the way for implementing the trade agreement.
Proplastics, a plastics manufacturer in Zimbabwe, expects to benefit from improved operational efficiencies after commissioning a new plant in the second half of 2016. The new plant is part of the company's broader modernization program, which has already seen a new injection moulding factory and HDPE line commissioned. The CEO said the new plant will improve margins and reduce costs for consumers. For the first four months of 2016, Proplastics' volumes were up 9% and exports contributed 14% to turnover, though overall turnover was flat compared to the prior year due to weaker regional currencies.
The Zimbabwe Mining Development Corporation has commenced efforts to revive the Golden Kopje Mine by seeking a firm to conduct a feasibility study. The study will develop a business plan and work schedule for reopening the mine. Golden Kopje Mine, located in Chinhoyi, stopped operations in 2006 due to financial constraints but reopened in 2009 before shutting down again in 2014 due to operational challenges. Reopening the mine could boost Zimbabwe's gold production, which increased 34% last year.
The Genesis of BriansClub.cm Famous Dark WEb PlatformSabaaSudozai
BriansClub.cm, a famous platform on the dark web, has become one of the most infamous carding marketplaces, specializing in the sale of stolen credit card data.
Building Your Employer Brand with Social MediaLuanWise
Presented at The Global HR Summit, 6th June 2024
In this keynote, Luan Wise will provide invaluable insights to elevate your employer brand on social media platforms including LinkedIn, Facebook, Instagram, X (formerly Twitter) and TikTok. You'll learn how compelling content can authentically showcase your company culture, values, and employee experiences to support your talent acquisition and retention objectives. Additionally, you'll understand the power of employee advocacy to amplify reach and engagement – helping to position your organization as an employer of choice in today's competitive talent landscape.
IMPACT Silver is a pure silver zinc producer with over $260 million in revenue since 2008 and a large 100% owned 210km Mexico land package - 2024 catalysts includes new 14% grade zinc Plomosas mine and 20,000m of fully funded exploration drilling.
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Best practices for project execution and deliveryCLIVE MINCHIN
A select set of project management best practices to keep your project on-track, on-cost and aligned to scope. Many firms have don't have the necessary skills, diligence, methods and oversight of their projects; this leads to slippage, higher costs and longer timeframes. Often firms have a history of projects that simply failed to move the needle. These best practices will help your firm avoid these pitfalls but they require fortitude to apply.
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Ecocash subscribers get access to Mastercard payment platform
1. News Update as @ 1530 hours, Wednesday 30 July 2014
Feedback: bh24admin@zimpapers.co.zwEmail: bh24feedback@zimpapers.co.zw
By Rumbidzayi Zinyuke
Econet Wireless’ mobile money service,
Ecocash has launched a debit card that
is linked to the Ecocash wallet, a move
which will enable subscribers to make
international payments with ease.
The debit card, a result of an agree-
ment with MasterCard, is set to reduce
the dependence on cash and increase
financialinclusionthroughelectronicpay-
mentsinZimbabweandbeyondthebor-
ders. The move comes hardly a month
after rival operator, Telecel, launched its
owndebitcardthatislinkedtoZimswitch
for its Telecash subscribers. Speaking at
the launch of the Ecocash Debit card,
Econet chief executive Douglas Mboweni
said the debit card would do away with
the need to carry around physical cash.
“The adoption of electronic payments is
critical to Zimbabwe’s economic devel-
opment. Reducing dependency on cash
while increasing financial inclusion bene-
fits the whole country including the gov-
ernment, industry sectors like tourism
and retail, merchants and citizens,” he
said. He said the debit card would also
increase the velocity of transactions.
“We are saying let geography not limit
the convenience that our subscribers
should have. We want to do away with
problems of geography and access to
physical cash. We are saying let the
money be kept in a bank and let the
money be moved from one account to
another while we use this convenient
piece of plastic to do transactions,” he
said. Ecocash chief executive Cuthbert
Tembedza also said the debit card pro-
vides an additional choice of transacting
for people who did not want to use cash
or mobile money. “We look forward to
offering Zimbabweans even more ways
to benefit from the security and con-
venience of electronic payments as they
engage with, and contribute to, the for-
mal economy,” he said. He said the debit
card will create interoperability between
everyone in different parts of the world.
MasterCard representative Charlton
Goredema said the debit card would
address Zimbabwe’s market realities,
particularly the impact of mobile money.
“As EcoCash enables its customers to
benefit from MasterCard’s global pay-
ments network, we are assisting Zimba-
bwe to integrate its economy with those
elsewhere in the world. Importantly, we
arealsocontributingtothefinancialfree-
domofindividuals,”saysGoredema.The
card will cost users about $2 to access
and transaction fees range between 30
cents and $2.45. Users of the card can
also withdraw money from MasterCard
licensed ATMs and the card uses an EMV
Chip and PIN technology, which is much
more secure than magnetic stripe cards
that most of the local banks still use. •
Ecocash subscribers get access to Mastercard payment platform
3. BH24 Reporter
The Cimas Medical Laboratories Harare
laboratoryhasbecomethefirstmedical
laboratory in Zimbabwe to attain ISO
15189 Accreditation, the international
standard for medical laboratories.
The standard is based on ISO/IEC
17025 and ISO 9001 but takes into
consideration the specific Medical Lab-
oratories requirements for quality and
competence and the importance of the
medical laboratories to patients’ care.
Cimas Medical Laboratories received
ISO accreditation from the South-
ern African Development Community
Accreditation Services (SADCAS), an
accreditation body whose mission is
to provide internationally recognised
accreditation services for SADC mem-
ber states
Cimas Medical Laboratories Harare
laboratory manager Roselin Maga-
ramombe said the accreditation
confirmed that the Cimas Medical
Laboratories operated according to
international standards and that results
of tests done at the Cimas Medical
Laboratories would be accepted inter-
nationally.
“We are very excited about the accred-
itation. We are happy to attain this
accreditation first time around on appli-
cation and we have attained it despite
numerous challenges facing the health
delivery industry in general and the
medical laboratory services in particu-
lar.
“This accreditation means we are inter-
nationally recognised. If, for example,
a patient has a test done at our labora-
tory, he or she can take the test results
anywhere regionally and internation-
ally and the results will be accept-
ed,”she said.
The ISO 15189accreditation pro-
cess for Cimas Medical Laboratories
began in 2011 and involved training,
strengthening of laboratory manage-
ment, comparing observed practice
with the standard and implementing
changes to conform to the standard.
SADCAS chief executive Maureen
Mutasa said Cimas been granted the
accreditation following a meeting of the
joint SADCAS/South African National
Accreditation Services (SANAS)
accreditation approvals committee. •
3 NEWS
Cimas Medical Laboratories attains ISO 15189 Accreditation
5. By Funny Hudzerema
Government has embarked on stake-
holder consultations to speed the draft-
ing of the National Quality Standards
Authority Bill and give room for the
Zimbabwe Quality Standards Regula-
tory Authority.
Addressing delegates at the Standards
Association of Zimbabwe workshop on
the role of standards in national tech-
nical regulatory framework, Deputy
Minister of Industry and Commerce
Chiratidzo Mabuwa said the consulta-
tions had already begun.
“It is envisaged that the passing of the
National Quality Standards Authority
Bill will culminate into the formation of
the Zimbabwe Quality Standards Reg-
ulatory Authority.
“ZQSRA is expected to hold the
responsibility of ensuring that local
and imported products that are sold in
Zimbabwe do meet the quality, safety,
health and environmental standards,”
she said.
She also said the standardisation of
local goods and services will protect
public health and safety and can eco-
nomically establish efficient markets
locally and internationally.
“Standards and conformity assess-
ment can also assist in the develop-
ment of better regulatory practice and
national quality infrastructures facilitate
markets and allow societies to have
confidence in technical,” he said.
Deputy Minister Mabuwa added that
the establishment of the Standards
Regulatory Authority will align Zimba-
bwe to its World Trade Organization
obligations (WTO).
“The setting up of the monitoring
mechanism will not only ensure com-
pliance with quality, health, safety
and environmental standards, but the
Authority will set Zimbabwe in line with
the WTO agreements to which we are
a signatory,” she said.
Speaking at the same event, Interna-
tional Standards Organization expert
Graeme Drake said Zimbabwe must
work in line with the African Organi-
zation for Standards with guidelines to
standards for the nation to benefit at
continental level and this will develop
to international.
“Standardization of local goods and
services protect public health and
safety and can economically establish
efficient markets locally and interna-
tionally.
“Standards and conformity assess-
ment can also assist in the develop-
ment of better regulatory practice and
national quality infrastructures facilitate
markets and allow societies to have
confidence in technical,” he said.
The objective of the workshop was to
raise awareness among national reg-
ulatory authorities in Zimbabwe on
approaches and benefits of using vol-
untary standards in regulations. •
5 NEWS
Government engages stakeholders on National Standards Regulatory Authority
Deputy Minister Mabuwa
7. 7 NEWS
By Lynn Murahwa
French-based energy company, Sch-
neider Electric has signed an exclusive
distribution agreement with a local
energy company, Samansco for the
supply of solar powered LED lamps
that is expected to generate $10 mil-
lion.
Speaking at the signing ceremony
which took place at the Residence of
the French Ambassador Laurent Dela-
housse yesterday, Samansco manag-
ing director Jangez Gangat said the
targeted revenue from the deal would
be realised over the next three years.
"We currently have over 170 dealers
over the country and we are looking to
expand that. Through Schneider Elec-
tric we have begun to train entrepre-
neurs from rural areas in partnership
withNGOstobecomeenergyentrepre-
neurs."The investment from Schneider
is a commitment from them through-
out Africa to train over 10 000 people
on the Access to Energy programme.
In Zimbabwe we are targeting over 2
500 people to train over the next three
years," said Gangat.
HesaidSamanscohadsupplied22000
systems in 14 countries in the region
to date. The portable bulb, also known
as The Mobiya TS120S, is an energy
efficient, eco-friendly and robust port-
able lamp producing 120-lumen light
output, [perfectly suited for demanding
rural environments.
The lamp is equipped with a mobile
phone charger that includes a USB
port. Schneider Electric head of sus-
tainable development for southern
Africa Zanelle Dalglish said the com-
pany is pleased to partner with Zim-
babwe and the development within the
country. It has been set at a retail price
of $99 by Samansco.
"In terms of revenue, we had about
20 billion Euros revenue in 2013 so
Schneider Electric is a well-established
international organisation.
It makes me very proud to be in Zim-
babwe to say that an organisation of
this size has a keen interest in Zimba-
bwe and looking at the development
within your country," she said.
Shesaid55percentoftheZimbabwean
population is not connected to the grid
and 11,5 percent is underserviced in
remote areas making the Mobiya an
ideal solution for development.
Also speaking at the Launch the Minis-
ter of Environment, Water and Climate
Saviour Kasukuwere said the sup-
port brought in by Schneider Electric
through Samansco will go a long way
in providing electricity to the country.
"As a ministry we are excited that this
falls within our space, that is the intro-
duction of solar gadgets and power.
Itisalsosupportingourschools,adding
electricity to our schools so it is a very
welcome investment and we look for-
ward to working very closely with Sch-
neider Electric and their local agents,"
he said. •
Schneider Electric in $10 million deal with local firm
9. The equities markets maintained its
bull run for the second day after gain-
ing 1,18 percent as no counters in the
industrials registered any loses.
The industrial index gained 2.17
points to close trade at 186.54 points.
Hippo was up 4.90 cents to 60 cents,
Old Mutual rose 3.01 cents to close
at 263.01 cents and Colcom added
3 cents to 25 cents. TSL picked up 2
cents to 27 cents and beverages giant
Delta traded 1.1 cents firmer at 126.1
cents.
The mining index however shed 1.8
points to close trade at 95.65 points,
as Bindura eased 0.27 cents to settle
at 8.73 cents. Falgold was unchanged
at the previous trading level, while
Hwange and Riozim were bid higher
at 5 cents and 22 cents respectively.
― BH24 Reporter •
9 ZSE REVIEW
ZSE in second day gains
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AND SERVICE EXCHANGE FOR COMPLETE AXLES, ENGINES AND GEARBOXES.
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No. 17033 CEDORA ROAD, P.O. BOX GT 1244,
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Website: www.propshaftscenter.co.zw
TEL: 770638-43, 086 4406 8386
CELL: 0772 470665, 0712 204396,
086 44068386, 0712 749578
Email: sales@nationalpropshafts.co.zw
MUTARE PROPSHAFTS CENTRE
12 A RIVERSIDE DRIVE
P.O.BOX 1869, MUTARE, ZIMBABWE
Website: www.propshaftscenter.co.zw
Tel: 66084, 086 4406 8385, Fax: 68597
Cell: 0712 204396,
0772 715388, 0773 782502
Email: sales@mpc.co.zw, mpc@mweb.co.zw
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TA 1919 PUMPS, WATER PLATES &
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PROPSHAFTS & DRIVE SHAFTS
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BH24
11. We feel we should applaud the effort
being made by Telecomms companies
in making sure that all Zimbabweans
have access to banking services.
Despite the fact that the major-
ity of people in the country are still
unbanked, mobile network service
providers have changed the sphere
of late.
Not only have they increased acces-
sibility to banking services, they have
made the same services easier and
cheaper.
The fact that Zimbabweans have been
slowly adopting the culture of using
plastic money to make payments
shows how these services come in
handy.
What the traditional banks failed to do
in a century, the mobile network oper-
ators have done in under a decade.
Not to take anything from the banks,
but we feel mobile companies have
changed the banking services arena.
The launch of mobile money ser-
vices by Econet, Telecel and NetOne
increased the number of people with
access to banking services signifi-
cantly. Banking was made reachable.
People no longer had to carry physi-
cal money but could just pay using
the various platforms and trips to the
banks got fewer and fewer.
And now Telecel and Econet have
introduced debit cards which are con-
nected to a subscriber’s wallet.
Looking at the Telecash Gold Card,
its greatest strength is undenia-
bly the convenience it will create for
retail payments made through mobile
money. The Gold Card is bringing
the simplicity of swiped payments to
mobile money.
And Ecocash now has the Mastercard
debit card. The huge convenience is
that the EcoCash wallet is also a Mas-
terCard wallet. This means you can
use it to pay for anything from pay-
ing for stuff in a shop or doing your
shopping across the borders to buying
things on the internet.
Informal traders who used to carry
around large sums of money can now
just use the debit card.
Between having a telecash debit card
and Ecocash mastercard, Zimbabwe-
ans will almost always never need to
use cash, unless retailers and informal
traders shun these convenient meth-
ods of payments. We do not know
how people will receive these cards,
but the reception that mobile money
services enjoyed might be something
to go by. In short, Zimbabwe is surely
moving towards being a cashless
economy! •
11 BH24 COMMENT
Zim moving towards cashless economy
13. Following the successful buyout of
three Shoprite Tanzania stores two
months ago, Kenya’s largest super-
market chain, Nakumatt Holdings has
officially opened one of the stores at
Mlimani City Mall in capital city, Dar es
Salam.
The Sh4 billion ($46 million) acquisition
of the three stores from South Africa
retail giant gave Nakumatt leverage
to re-establish its presence in the Tan-
zanian retail market after it opened its
first outlet in 2011. The three stores
acquired by Nakumatt are located in
Mlimani City mall, Puga Road in Dar es
Salam and in Arusha. Nakumatt Hold-
ings Managing Director, Atul Shah said
the launching of its store in Tanzania
fulfils the company’s “long held dream”
of establishing its presence in Tanzania.
“This opening also sets the stage for
our 50th branch opening by mid-Au-
gust which will be a key milestone as
we’ll have achieved our Nakumatt 2.0
Strategy goal a clear six months ahead
of the February 2015 target,” Shah
said. The Nakumatt Pungu Road in Dar
es Salaam will be home to its Tanzania
Headquarters, Nakumatt said. Shop-
rite closed its Tanzania business after
a 12-year spell in the country. It was
forced out when the host government
accused it of flooding its market with
South African products.
Nakumatt made an offer to acquire
Shoprite’s local assets but such move
was slowed when Shoprite employees
moved to court over fears of losing
their terminal benefits once the Kenyan
retailer took over.
The Fair Competition Commission
(FCC) of Tanzania later cleared the
Nakumatt-Shoprite deal in May after
Shoprite employees withdrew their
case from the High Court.
However, it gave the retailer strict
conditions on operating in its market
including hiring a certain quota of locals
as well as patronizing domestic manu-
facturers.
The Regional Retailer already has 34
stores in Kenya and hopes to add three
more before the end of the year. Aside
the stores in Tanzania, Nakumatt also
10othersubsidiariesareinUgandaand
Rwanda.― VENTURES AFRICA •
Ten months after opening its first local
factory in Egypt, Samsung Electronics
says it will invest $20 million over the
next four years to develop a new tele-
vision factory in Dube TradePort, South
Africa.Located in the KwaZulu-Natal
province, Dube TradePort is one of the
special economic zones the South Afri-
can government is setting up to boost
investment.Thebusinesshubissched-
uled to launch before the end of the
year. Samsung intends to begin con-
struction of the factory in line with the
hub launch to cash in on the increasing
demands for consumer goods in the
country.
According to research, an average
South African spends about $940 per
year on electronics. Statistics South
Africa (Stats SA) also revealed that
consumer spending in the country
reached an all time high of R1.3tril-
lion ($127 billion) in the first quarter of
2014.
Deputy Managing Director of Sam-
sung Electronics South Africa, Matthew
Thackrah says the new plant is in line
with the company’s goal to create
new business opportunities, products
and technology. The company said
the manufacturing facility will encour-
age the development of skilled and
unskilled labour in the region.
Samsung, like other technology prod-
uct manufacturers is seeking new
grounds in developing markets like
Africa, with the continent moving from
being a “dumping ground” to a high
consumer rate market given its boom-
ing population and spending power. ―
VENTURES AFRICA •
13 REGIONAL News
Samsung to build $20m TV factory in South Africa
Nakumatt regional expansion boosted with Tanzania store opening
15. 15 DIARY OF EVENTS
The black arrow indicate level of load shedding across the country.
POWER GENERATION STATS
Gen Station
30 July 2014
Energy
(Megawatts)
Hwange 531 MW
Kariba 750 MW
Harare 20 MW
Munyati 26 MW
Bulawayo 28 MW
Imports 0 MW
Total 1355 MW
1 August - Sixteenth Annual General Meeting
of the members of Econet Wireless Zimbabwe
Limited, Place: Econet Park, 2 Old Mutare Road,
Msasa, Harare, Time; 10.00am
Seed Co Limited 19th Annual General Meet-
ing Venue: Seed Co Administration Block at Sta-
pleford Date: Wednesday 20 August Time: 12:00
hours
National Tyre Services Limited 52nd Annual
General Meeting Venue : Boardroom, Stand
4608, Corner Cripps/Seke Roads, Granite-
side, Harare Date: 20 August 2014 Time: 14:30
hours
THE BH24 DIARY
21. European stocks retreated as inves-
tors weighed corporate earnings, and
as the U.S. joined Europe in imposing
new sanctions on Russia for its role in
the insurgency in Ukraine. U.S. stock
futures were little changed, while Asian
shares rose.
Schneider Electric SE declined 2.7 per-
cent after first-half adjusted earnings
missed analysts’ estimates. Airbus
Group NV climbed 3.6 percent after
posting a 10 percent increase in first-
half earnings.
The Stoxx Europe 600 Index dropped
0.3 percent to 341.36 at 8:41 a.m. in
London.
The equity benchmark rose 0.3 per-
cent yesterday as companies from
Ferrovial SA to Next Plc reported bet-
ter-than-projected results. Standard
& Poor’s 500 Index futures gained 0.2
percent today, while the MSCI Asia
Pacific Index advanced 0.3 percent.
The Stoxx 600 yesterday pared gains
in the final half hour of trading as the
European Union agreed to new sanc-
tions on Russia that curb its access to
bank financing, arms, and equipment
to modernize its oil industry.
The U.S. Treasury Department
announced late yesterday penalties for
American citizens dealing with equity
or bonds of VTB Bank OAO, Bank of
Moscow and Russian Agricultural Bank.
United Shipbuilding Corp., which has
contracts with the Russian military, was
also sanctioned.
The Federal Reserve will reduce its
monthly purchases for the sixth time to
$25 billion from $35 billion as it ends a
two-day meeting after European mar-
kets close today, according to econo-
mists. ― Bloomberg •
21 INTERNATIONAL NEWS
Europe stocks fall as investors weigh earnings, sanctions
22. A few days ago the Minister of ICT,
Postal and Courier Services, Webster
Shamu, announced the new directors
for local postal agency Zimpost and
the two state owned telecoms outfits
Netone and TelOne.
The appointments are effective from
1 August 2014. The NetOne board
chairman is Mr Alex Marufu and the
vice chairman is Mr Sydney Nyanungo.
The new Zimpost chairman is Mr Clem-
ence Mabaso and the vice chairman is
Retired Air Marshal Henry Muchena.
TelOne’s new board chairman is Mr
Charles Shamu and Retired Briga-
dier-General Charles Wekwete is the
deputy chair.
Judging from figures released by
POTRAZ, the industry regulator, this
new leadership has a lot to take care
of to ensure a competitive standing in
communications.
Each of these organisations is fighting
for relevance in aggressive markets
and it will take a lot of level headed
decision making to ensure that they
come out on top.
NetOne, one of the country’s three
mobile network operators seems to
have its head above water despite
being the last in a class of three.
Its new board is faced with charging
forward in a telecoms industry seized
by challenges of declining voice reve-
nue(the cash cow and family favour-
ite), a wheezing economy and market
share battles for anything from OTT
services to brand recognition.
TelOne, in the perpetual sweet spot
of being the only fixed line and ADSL
service provider has managed to expe-
rience, for the first time, a growth in
its fixed line subscriber base. However
this victory is challenged by the strong
positioning of mobile services that have
challenged the relevance of a fixed line
service which has experienced a resur-
gence thanks to the benefit of ADSL
services. The decisions being made
at board level will most likely need to
include a strategy to capitalise on the
huge demand for stable, affordable
internet services.
Postal services champion Zimpost, is
also fighting technological aftershock
and its board has to craft a progres-
sive plan for a brand synonymous with
a service that most would say is not a
priority in the digital age.
With the decline of postal traffic, the
role of ZIMPOST as a courier services
leader will likely be part of a the new
vision and strategy that the new board
has to roll out.
Its implementation is however not so
simple especially in a market that has
several options. (Just ask the guys
from Zimboshopper)
In any case we will all be watching
to see how well these new directors
handle the challenges that lay before
them once they assume their duties. ―
Techzim •
22 Analysis
Lots of homework for new directors at NetOne, TelOne
Minister Shamu