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Diaspora Matters

Diaspora Matters

20 Biggest Risks on Earth

risk

So what are the biggest risks under the sun? In what way will they affect you? For entrepreneurs risks also means opportunities. For risk managers however it means you need to be on the look out. If your risk register does not include the 20 risks noted below, then you are missing out. Your organisation will soon be affected and just dont be caught unaware.

Some of the risks are already playing out in various regions across the globe and most of you can relate to them. The risks are compiled by the World Economic forum and we feature them below in ascending order;

  1. Unemployment or underemployment
  2. Fiscal crises
  3. Failure of national governance
  4. Energy price shock
  5. Profound social instability
  6. Failure of financial mechanism or institution
  7. Failure of critical infrastructure
  8. Cyberattacks
  9. Interstate conflict
  10. Terrorist attacks
  11. Unmanageable inflation
  12. State collapse or crisis
  13. Failure of urban planning
  14. Asset bubble
  15. Large-scale involuntary migration
  16. Illicit trade
  17. Data fraud or theft
  18. Extreme weather events
  19. Natural catastrophes
  20. Water crisis

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Diaspora Matters

Great News from Angola

flagu

Some opportunities are hidden in language and with most of our members being English speakers, the risk is losing out on opportunities from Franch and Portuguese speaking countries.

Whenever a country undertakes privatisation, this is a big move which should not be ignored. Privatisation unlocks value with most entities doing well thereafter. We have witnessed this even in countries such as Zambia and Zimbabwe.

Now the second richest country in SADC is going through a privatisation programme and below we feature an article which may be of interest to you especially locals, foreigners and the diaspora.

Most companies to be privatised in Angola will be sold in 2020

14 August 2019| Angola

Angola’s Privatisation Programme (ProPriv) predicts that most of the 195 state-owned or partially state-owned companies will be divested by 2020, the Secretary of State for Finance and Treasury Vera Daves de Sousa, said on Tuesday in Luanda.

The coordinator of the technical group of the inter-ministerial national commission for the implementation of the Privatisation Programme, said that by the end of this year 80 companies would be covered, in 2020 it will be 91, 20 companies will be added in 2021 and the remaining four in 2022.

The outlined schedule shows that of the 32 national reference companies four will be sold in 2019, 18 in 2020, seven in 2021 and the final three in 2022.

The most well-known companies involved in this process are state oil company Sonangol, diamond company Endiama and airline TAAG, the BCI, BAI, BCGA and Banco Económico banks, as well as financial companies ENSA Seguros and the Angola Debt and Securities Exchange (Bodiva).

The programme also includes agro-industrial units Aldeia Nova and Biocom, textiles companies, Textang II, Satec and África Têxtil, cement plants Nova Cimangola and Secil do Lobito, as well as the Cuca, Eka and Ngola breweries and construction company Mota-Engil Angola.

The telecommunication companies that will be included in the Privatisation Programme are Unitel (in which MSTelecom has a 20% stake), MS Telecom itself, Net One, Multitel, Angola Telecom, TV Cabo Angola, Angola Cables, Angolan postal company ENCTA, Angola Comunicações e Sistemas (ACS) and telephone directory company ELTA.

Other companies listed for privatisation are Sonangol’s airline, Sonair, airport management company Sociedade de Gestão de Aeroportos and Sonangalp, a fuel distribution company that is 51% owned by Sonangol. (Macauhub)

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Diaspora Matters

Reasons To Blog

blok

For youngsters finishing college one of the areas you need to explore is blogging and below we feature some of the reasons.

  1. Show Your Expertise

We have a lot of talent in Zimbabwe or the world at large that has gone untapped or showcased. We also have a lot of people going up their academic ladders even to PHD levels but most of these people still aren’t sharing with the world what they know best. The only thing they have to show is just a gown and a certificate hung up on a wall. I still find some other experts and educated guys who have spent so much time trying to submit their articles in the private media, but most of the times they get rejected or are told to revise their work. Then I ask myself if it is really worth it if I can build my platform then capitalize on it.  This does not apply to the educated ones only but also to anyone who is an expert in a certain field, or passionate about a certain area that you want to share the expertise with the world. The internet gives you unlimited opportunity to get your message right there into the world.

Maybe you so much interested in a certain area, be it cars, fashion, fitness, health, money, blogging, politics, technology etc. then what are you waiting for? Go for it now and start blogging about it. In fact blogging has been made very easy today you can get access to various Youtube tutorials or even blog posts or even ask some blogging experts to take you through the journey.

  • Bulid Your Network

There is a common adage that says, ‘Your network is your net worth’ and believe you me we living in a world where who you know matters most. Through blogging I have managed to connect with some great men and women from all over the world. I have connected with some great international musicians and creative from all Africa and beyond and did some projects and interviews together. One of them we met last year when he came for the Zim Hip Hop Summit 2018, that was way after we had talked before over the phone and had done some works together online. Some of them I’m still to meet them and everyday my network is expanding. I occasionally get emails from international bloggers and content creators asking to have their articles featured on one of my other blogs

So let’s say you blog about finance, then it means you get to network with other finance bloggers and also your audience of which most of the times they would be people in your niche. To expand your network you can also read, share and comment on other blogs in your industry. The greatest hack to build a great network is to give without expecting anything in return, in fact to give more than you receive. Remember people are just attracted to people who give them something, so things like free e-books, great blog posts and even free giveaways will act like a magnet and expand your network.

  • Distinguish Yourself & Build Your Brand

As a blogger, you generally have an added advantage over non-bloggers mainly because sometimes you appear to know more stuff than none bloggers. Most bloggers also are influencers in their own niches and people tend to follow their advice, analyses, reports, trends etc and many a time they even quoted by other bloggers. For business, there is a general inclination towards those that blog than those that don’t. Consumers view those that blog as more knowledgeable than those that don’t, so what are you waiting for? If there is one thing that can distinguish you from another person, that is the amount and quality of information you know and the easiest way to let the world know that you know something is definitely through blogging. This is mainly because blogging is very cheap and comes with immense opportunities. I want you to know that blogging is not an over-night success game and if you really looking for microwave success then please I beg you, ‘Don’t try it please’. If you’re going to blog about a subject, you need to KNOW YOUR STUFF.

This means you sometimes have to go out of your lane, researching and gathering content plus the immense effort and time required to put up a quality post. I remember my first times blogging, spending sleepless nights trying to put up one single post but that was worth it. I managed to develop myself, work under pressure, manage my time, articulate my thoughts and message. Remember practice makes perfect and I’m still working on my 10 000 hours. Again a look at some great brands like Jeff Bullas who specializes in Content and Digital Marketing,

Joel Brown of Addicted 2 Success that specializes in Motivational content, Janet Machuka specializes in Digital Marketing, Fitness Bae specializing in Fitness. All these guys have built great brands that extend beyond their personalities and they are capitalizing and monetizing on that.

  • Increase Your Market & Reach

According to Hubspot, “53% of marketers say blogging is their top content marketing priority.”53% is a huge number, and the question could be, are you part of that large group, if not then what are you waiting for? The underlying reason is basically that they have seen its immense benefits and I don’t want you to miss these too. When you generate good content, search .come to your blog and pages and this means more leads which you can then covert to customers. Also when the content is good, people tend to share it reaching more and more unimaginable numbers. 94% of people share blog content because they think it might be useful to other people. (Source: nymarketing.com) To enjoy these matrices, you have to optimize on quality content. A blog being an online presence is there on the web 24/7 meaning someone is broadcasting your message all the time. Even when you asleep or on holiday people can still go view your site and read your posts, like and share them or even participate in some Call to Actions (CTA) thereby harvesting prospects and increasing your database.Companies that published 16 or more blog posts per month got 4.5X the leads than companies that published 4 or lessmonthly posts. (Source: Hubspot)

  • Make money

Now I come to the area that I’m often asked by most people, ‘Zvinemari here?’ and I always calmly respond, “Try it”. Believe you me, this thing is a multi-billion dollar one, but as highlighted before it is not an over-night success and always the game, the world always rewards the best. There are many ways of making money online from sponsored posts, selling adverts, affiliate links, speaking engagements, selling books and courses etc. I will have to dedicate a whole blog post or series of posts dedicated to how you can make money online especially through blogging. Another quick way to make money through blogging for your business is to include your products and put up an e-commerce platform on your blog and website pages. If it is a services industry, you can also include some of your services on separate pages and also include booking or contact pages to let prospects get in touch and place orders.

By Tinashe Bonde and article originally published on blog www.coachtinashe.co.zw

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Diaspora Matters

Interesting Crowdfarming Initiative launched

crew 3

Africans just love farming! Give them land and support and they will do wonders- after all farming is the oldest entrepreneurship sector on the continent. Of course there are challenges in terms of access to latest technology and others such as access to capital, markets and other resources. So from our 50,000 strong online community, we advertised for those interested in crowdfunding and the response was overwhelming!

Crowdfarming is the future of farming on the continent as it involves members interested in pooling resources together to enjoy economies of scale and other benefits. One of our forum admins offered the use of his farm to the ZBIN community and technically the forum members now own a piece of land.

Last Suturday witnessed a small group of our members touring the farm located in Beatrice about 37 kilometres from Harare and what an eye opener!

Our proposal for the initiative is the formation of a company wholly owned by interested members and the next proposal is brainstorming on a horticulture business idea which will be conducted by an independent business consultant.

Once this is done we will review the business plan and then contribute funds for the project. Shared resources means we reduce the risk of failure and the pooling of resources means that capital will nolonger be a hurdle in farming! So this is the biggest buzz on our forums and we believe only the sky is the limit.

We are not recruiting too many new members for logistical purposes. We will come and invite more once the project becomes a success and then we will scale it up across the country.

Talk of the power of unity!

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Diaspora Matters

Foreign Truck Drivers in SA in trouble

kubvira

Its not looking good in South Africa for foreign truck drivers as they are facing daily harassment and attacks on the roads. Locals especially in KwaZulu Natal are pushing their leaders to take drastic actions of banning all foreign drivers and replacing them with locals.

Only a daily basis, truck drivers are being targeted with a number of deaths recorded and unrecorded by reported on a weekly basis. Matters are coming to a head next week on 2nd September 2019 when an industrial action has been called by locals giving all foreign drivers to stay off the road. This has a huge impact on the transportation of goods in South Africa and the region.

In response, foreign drivers have also come up with a counter move by participating on an industrial action starting on Friday this week and there is a high possibility of border or major high way blockades. If you are travelling this week and the next week one, take into consideration possible disruptions on the high ways.

Advocacy pleas from the foreign truck drivers.

SADC governments to conduct high level negotiations to safeguard the security of drivers and their cargo.

The Zambia High Commission in South Africa has already issued a warning to their citizens on the issue, more governments should do the same.

The issue has the potential to spark xenophobic violence and cause more harm to citizens and regional trade. There is need for high level intervention to this fast deteriorating situation or the opportunity cost will be high.

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Diaspora Matters

Of Lorraine Guyo, Startups and Contracts

thoq

Lorraine Guyo is one of the most influential ladies in Zimbabwe in 2019. A beautiful young lady who was propelled to stardom through Social Media. Her profile has been on the rise thanks to skits produced and directed by her former boyfriend Thomas Chizhange who is the founder of Zimbabwe’s Facebook Page of the year, Thomas Chizhanje and Friends.

Grey Contract

Thomas Chizhanje carried out a lot of work for Lorraine in sponsoring her startups and both parties agreed that he was going to recoup his costs once her career took off. Typical of most startups, trouble started when they received close to US$700.00 from the monetised Youtube channel and sponsors.

Then the couple split leading to controversies regarding the share of funds. Thom then took his money back without agreement and now Lorraine is crying foul. She wants her monies back in full and is claiming her ex boyfriend stole his money.

Sounds familiar?

This is a common story of startups, you have financial and other resources challenges at the first and enter into informal relationships or partnerships and trouble starts when your business starts to take off. All sorts of messy legal stuff start to crop up and some can be costly or leave your brand in tatters.

Who is putting funds into your project? Get a formal contract.

Who is volunteering? Get a formal contract for the contribution.

Someone partnering with you? Get a formal contract to protect yourself in future.

Falling in love with a business partner? Disaster in the making, when the relationship turns sour, you will have huge bills to pay.

Our forum legal contributor, Namatirai Ruzvidzo has posted a number of legal advice on the forum with some of them already on this site. Do look forward to more useful legal advice on the forum.

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Diaspora Matters

Youngster makes good monies from Beekeeping

beekeeper

Did you read our last book titled Business Opportunities for Zimbabweans? We covered plenty of opportunities including some researches and interviews. One of the opportunities we covered in the agriculture chapter was beekeeping. Look for the book and read on page 35. Below we feature one of the viral posts in our forums concerning beekeeping;

Yesterday l met a 24 year old guy at WINPAT in Harare opposite Gain Cash and Carry. He is from Buhera and graduated from Harare Polytechnic with a diploma in boiler making.

He was driving a fancy Lexus vehicle and he was buying turkey feed whilst I was buying de-worming tablets for my goats. In Harare he stays in Tynwald South where he built a house. Now here is a shocker…the youngster is only 24!

The transformation

It dawned upon the youngster that he had no relatives in the capital to offer him accommodation or financial support. He was on his own in the capital! Some of his peers were job hunting and some having turned to vending on the streets of Harare. Some had trekked to the diaspora.

What next?                                                                                     

The only last thing that came to his mind mashoko ababa vake ekuti simba rehove ririmumvura ( the power of a fish is in the water) meaning our roots kumusha, if we think fast ndokunobva financial freedom!

Tried to do fish farming but faced water challenges due to low rainfalls. Tried a hand on cattle rearing but there were no sufficient pastures. End of the road? Not really…

Then he attended a 1 day workshop on beekeeping costing US$5.00 and was empowered for life.

 So he headed to his rural home,  kwakucheka miti and mapuranga kwakugadzira mikoko 50 and kwakuuya kuHarare kwakutenga maold pallets kwakunogadzira mikoko.

He now has 300 beehives and all he did was to buy wax or namo yekuisa mumikoko  and as we speak he literally has thousands! Hold on- thousands? Yes he has bees working for him lol

Harvesting

Harvesting takes place every 2,5 months or 4 times per year.

Each beehive gives him 40 litres of honey but he can only harvest half and leaving the remainder.

Each beehive therefore gives him 80 litres of honey.

Wholesale price of honey ranges from US$2-US$5.00.

Do the maths

His revenue is a minimum of US$160 per beehive to a maximum of US$400 per year.

Now do the rest of the maths on how much revenue he gets per annum!

Future Plans

Does it now maketh business sense why he managed to build a home in the capital at such a tender age? At what age did you build your first home?

The business does not require much labour unlike other business ventures and the youngster has plans to go fully commercial and increase the number of beehives to 1000. Who says rural areas are outposts of poverty?

We end by quoting a leading entrepreneur from Kadoma, Mr Low who says;

Financial freedom haineyi nekuita degree it’s just basic education and common sense!

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How to get your products sold in leading supermarkets

pp

So how do you move huge volumes of your products through leading retail shops? Dont you think this question should have been part of your high school topics? Getting an assignment to approach local shops and engaging them in pushing your products?

Worry not if you missed this at high school and college. Our forum recently tackled this important area and we had brilliant responses which we feature below;

Frank Mzondiwa What I know is you need to have

A registered company with tax clearance

Barcode your products

Quality packaging

And also your products should have a huge probability of being bought.

So it’s best to start with small supermarkets until you have a huge clientele so as to convince the buyer that your products will move than just to waste space on the shelves

Harry Nyakatonje Good rapport with the buyers, products should be of good quality,if u need licensing or registration do so,be tax compliant,have capacity to replicate the orders they want in as many branches….be able to be consistent….don’t push for cash,hear out their terms….some prefer that u leave a product then they pay u later to reduce risk on their side….to reduce risk on your side employ merchandisers and brand ambassadors,run promos so that the shop sells more and u have good turnover …. repeat until u no longer have to introduce yourself……don’t be greedy if let’s say u supply oranges ,u run out of stock,take your friend’s orange if they make the cut for consistency

Above all be good with people,it doesn’t matter u own a farm,a company ,the latest SUV ,neat suits…… Be humble ,wear the perfume of the buyer to fall in their favor….you don’t have to bribe but be accommodating , professional and friendly

On large chain store remember they are big ,head office centralises buying power so be ready for beaurcracy and redtape, patience is needed .You may be lucky to be given cash,they may ask for your last price ,don’t lower your price at once,flinch a little ,hold your ground,tell them to make an offer and top something on that offer knowing it’s in your comfort zone, effective negotiation skill.I know most things are going paperless but at least have a name ,a receipt book, invoice book etc

Know your numbers and product.. .do not be like a fly by night… people will undervalue you….know in figures how much u can produce and supply….if there is a possibility of venture capital or franchise….we all have seen OK Pot “o”gold products…. sometimes they want it to carry their name coming from your factory….if u sell strawberries know what strawberries do,how to best preserve etc…..carry samples …hapana anoda kunzi mastrawberry ekwa OK haana taste.

Mohamed Adam You need to be prepared to give credit unless its a product that they see does well for them, they then pay you on delivery. In today’s economic system, i would not advise one to start with trying to get their products in these shops, buy the time they pay you, your money would have halved in real money.

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Who was auditing NSSA?

nssa

The initial inquiry on state capture in South Africa claimed the scalp of an unlikely suspect-KPMG! So as the nation reviews the damning audit reports by the Auditor General, one of the questions we should be asking is ‘Who audited NSSA? What role did they play in the plunder of public resources? We fully appreciate the critical role of auditors and the limitations on fraud detection and reporting. But how far are they liable in cases where rampant corruption would have been unearthed and yet their opinions could be at variance with what would be on the ground?

Looking at NSSA, the public may be interested in knowing the composition of the audit committees at the institution. What was their role? Who were the internal audit members? Were they getting salaries? How was the corporate governance culture at the institution?

Zeroing in on the finance department-who are or were the finance directors? What are their qualifications and experience? Which accounting and auditing bodies do they belong to? Did they follow their professional ethical standards? Are professional accounting and auditing bodies going to sanction their members implicated in various fraud cases perpetrated at various entities across the country?

Around this time last year, 3 local NGOs had their funding cut by a leading humanitarian organisation. One of the directors of the organisation publicly defended her organisation saying they had recently conducted an external audit where their books were determined to be clean or unqualified. Who were the auditors of these organisations? Critically, who were managing the finances?

Are audit clerks remunerated enough? How are auditing firms handling the undue pressure on their staff to be corrupt? Do they have reporting mechanisms for stakeholders to report and bring evidence of corruption?

The Institute of Chartered Accountants in Zimbabwe is responsible for the training of local auditors, they also register auditing firms. How far is the institute going in terms of professional development and protecting the integrity of the profession?

Are they aware of the challenges and limitations in the profession? How are they responding to some of their members implicated in corruption? Do they ever solicit for input from members of the public?

The same applies to all finance professional bodies such as the Institute of Internal Auditors, ACCA, CIMA and CIS. Are they following developments in the country? Are they aware that some of their members could be facilitating fraud? Are they taking disciplinary action?

The accounting profession is well known for integrity..it is responsible for the stewardship of resources for shareholders, the government and tax payers. To what extend should the public rely on their work? How genuine are audit reports from Zimbabwe?

We expect all finance professionals to self introspect and review ethical guidelines. We hope to see action from all auditing firms reviewing how they conduct business and protecting the image of the profession.

We look forward to seeing ICAZ being hauled before the parliamentary committee and answering various questions pertaining to their members and audit firms. If the auditors of NSSA issued clean audits despite the rot at the organisation, then they too are liable. They should be penalised and forced to return back all audit fees plus a hefty fine. Some may need to be deregistered in order to send a clear warning!

A discussion within our forum on the issue showed that the rot in the auditing profession has reached alarming levels. Auditors in the country are easy to bribe with some offered free air tickets or jobs for sweeping corruption under the carpet and issuing clean audit reports. One wonders what would have happened had the Auditor General Office not carried out second audits?

How many have mechanisms to review -audits? Just how reliable are audited statements from Zimbabwe? As the country fights corruption, we need all those found guilty caged plus restoration of integrity of the accounting and auditing profession.

This is a sensitive area but South Africa did it and all audit firms are now wary of the risks associated with unprofessional behaviour. We need to start talking loudly about the rot in the sector in order to restore confidence.

We go back to our initial question-who signed off the financial statements at NSSA? Which accounting or auditing professional bodies do they belong to? Who audited them? Is the audit  firm fit to remain operational? What steps is ICAZ going to take?

Food for thought.

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