Diaspora Matters

In my view every company should have an economist in the boardroom. Someone who is able to assist in decision making looking at past economic trends and projecting the future. But is this possible? Budget constraints do come into play and few are able to engage a full time economist.

Only financial institutions have the luxury of employing them and for good reasons, most engage actuarial scientists. Do we find economists in the retail sector, mining sector, agriculture sectors?

Highly unlikely and in a few instances—they engage management firms on a consultancy basis especially during strategic planning and review sessions.

Therefore the role of economists is assumed by accountants. But do accountants have the depth required in a fast changing economic landscape?

How many accountants can unpack the De-dollarization Roadmap? How many can confidently say this is what is likely to happen creating a scenario analysis for decision making?

How many accountants are able to unpack the history of currencies in Zimbabwe and implications on business performance? For instance to say The Bond lasted for so many months—these were the implications, lessons learnt carried over to the ZIG and the likely scenario is this or that?

Truth is, accountants have a lot on their plate. Financial reporting, audits and compliance do take a lot of time leaving little space for analysis. Yes top companies do factor this and have well developed systems. But how about non listed firms, medium sized businesses and small ones?

How many accountants can predict the next Statutory Instrument and likely impact?

Who can confidently advise on economic impact during the run up to elections? Who has time to be following all draft bills tabled in parliament? Who has the luxury of economic indicators trekking, reading the mood and advise management?

What will management say when they see a senior employee sitting in office and browsing through newspapers and listening to business conversations? They will say—this position doesn’t add value!

Do accountants possess enough depth on economic matters?

· At college (Bacc|Bcom)—Economics briefly covered, micro and macro economics.

· At MBA—Economics also covered but still the depth not good enough.

· At Professional Level—Basically a repeat of Honours Degree level. It is worse for foreign qualifications which do not consider the local complexities. Yes they will master micro-economics basis, macro economics too. But will have scant application skills on local economies.

It is only experience that they will add depth to their skills. Solid Continuous Professional Development (CPDs) will help plug the gaps.

As you review your performance results particularly adverse variences, one of the questions you may need to ask yourselves is—What percentage could be attributed to lack of economics depth?

Were you fortunate to have been around in 2005? Ok lets rewind the clock and look at the changes that have taken place over the last 2 decades.

In the year 2005 what was the situation?

1. No Social Media.
2. No official US Dollars circulation.
3. No Chinese buses on our highways.
4. Few ex jap vehicle imports.
5. No Runners existed.
6. There were no buses to Beira, Capetown and East London.
7. Borehole drilling and Solar Products out of reach:
8. Mukuru did not exist:
9. A lot of local banks had been closed.
10. We did not know much about diamonds, Chrome and Lithium
11. NGOs employed thousands of employees.
12. No crypto currencies existed.
13. Smart phones did not exist.
14. Few Zimbabweans sought medical assistance in India.
15. There were technically no Zimbabweans learning at Zambian Universities.

What is the situation now? What were the drivers of change?

The Smart Phone ushered in a lot of new opportunities. Social Media is a big chapter which disrupted every facet of life bringing in new opportunities and also risks.

Massive Demographic Changes took place with millions migrating abroad—also bringing tons of opportunities with the strong emergence of money transfer agencies such as Mukuru—new bus routes also created.

Strong China Emergence a global leader disrupting supply chains and global economies. China’s competition drove prices down in energy products, and machinery.

Minerals & Tech: Most Zimbabweans were unaware of the existence of Marange Diamonds. We  not even care about the location of chrome deposits. And this also applies to gold where a lot of new discoveries were in the pipeline.

Climate Change: A series of droughts drove innovations in Agriculture and this also includes borehole drilling, solar irrigation systems etc

Tech| Demographics| China | Minerals | Economy | Climate Change

It started with an accidental encounter of 3 wild bean plants in my backyard garden in late November 2023. They were vigorously growing and I reached out to forum agronomists for help—are the beans edible? I asked because they pods had thorns and definitely looked wild.

Emmanuel Dube was the first to respond and said the beans were edible. Tsitsi Mubvakure was the second to confirm edibility and said she had a few of them growing at her backyard in Harare.

An interesting journey followed with seed multiplication and sharing within the forum. The seeds are not available for sale from leading seed houses. So if you want to grow them—you have to start from the bottom—a few plants and multiply them till you have enough for meaningful farming.

Our big space farming trials started in January 2025 and there are a lot of lessons;

• Constant watering is crucial and often a challenge.
• Planting early helps develop strong plants—the ideal period is September to December.
• The December period when rains come—is for upscale.
• Avoid having the bean plants growing and expanding on the ground—provide enough trellis.
• Security fence extremely important as the beans are a delicacy for cattle.

How many plants do you need to produce a tonne?

A thousand seeds giving you an average yield of a kg every 3 months is all you need.

However you need to first go through a learning curve of backyard farming and transferring skills to big spaces like plots, farms and rural lands.

• Do a soil test first and get experts advice.
• Do not go for too big farming spaces—rather keep it small and slowly upscale. Too big spaces will give you trellis support challenges. As previously mentioned—Trellis support is hard work and it’s not possible to cover an acre in the first cycle. Keep it most 200 sqm or less.
• Evidence has shown that well watered and manure supported plants can give you 5kgs of beans in 3 months. So it’s about more of quality than quantity.

So let’s give it a try this September and aim to have at least 10 plants and lets grow together. Search around for seeds and you could be fortunate. On ZBIN we distributed many free seeds but this time—if you need some, you have to pay a token fee to support the forum operational costs. You can link up on +263 773 055 063.

I had an interesting discussion with Zbinite Wilson Wizalamu who is the founder of Centi Centi SACCO which has members in Zimbabwe and South Africa. He is also a board member of The National Association of SACCOs.

The history of Savings and Credit Associations in Zimbabwe was tainted by Housing Cooperatives where many lost funds. So mention Cooperatives—and many will shy away, it is synonymous with fraud and mismanagement.

However there are quite a few which are doing well with the Teachers SACCO having 18,000 members and in 2017 they had a balance sheet valued at US$18 million before currency conversion in 2019.

The Biggest Risk ZBIN Crowd funding Projects Faced.

Capture, Capture and Capture of Projects. Registered as companies or simply roundtables.

Solution=SACCOs

And here is how;

1. A SACCO needs a minimum of 10 members for registration purposes.
2. The 10 members will form a (1) management committee, a (2) supervisory committee, a (3) loans committee, and a (4) education committee.
3. The treasurer has to submit a CV for review and reference purposes.
4. In addition, the SACCO has to be part of a National Association of SACCOs.
5. They will be regulated by SACCOs Statutes.
6. Upon registration—they receive a certificate.

With the above steps—it is almost impossible for a single person to override the systems and everyone and convert a Crowd funding Initiative into a personal property. The corporate governance structure is regulated with statutory reporting and compliance.

A registered company can easily be converted into a personal project. One can use political power to systematically remove every shareholder taking advantage of commercial law illiteracy. Start-up companies vulnerable to takeovers by greedy members.

SACCOs government oversight makes it easier to lodge complaints for review.

Unregistered round tables easy for take overs or the founders disappearing from the scene.

So the message from now is SACCOS, SACCOS, SACCOS and SACCOS.

Kenyan  SACCOS

In Kenya SACCOS hold a combined US$14 Billion in assets or 10%of the GDP.

The benchmark for Zimbabwe should therefore be US$4,5 Billion

A benchmark of 1% means at least $450m but we doubt whether  total assets are worth $20 million.

But as the biggest small business forum in Zimbabwe with 180,000 Active Members, ZBIN has an opportunity to tap into the US$4.5 Billion market provided we have well run SACCOs.

The Jangano and Thuthuvaka Crowdfunding Projects currently hold less than US$20k in funds but have huge potential through laying a solid foundation. Convert into SACCOs in future and the sky is the limit.

Formalize Your Crowdfunding Initiatives

In order to grow and tap into the potential US$4.5 Billion market—ensure you formalize your entities. Yes you don’t have to open up to the public, but lay solid foundations for future upscale and growth.

And if not subscribed to ZBIN—you have an opportunity to be a member of the forum and not be left out.

The recent changes in visas by the American Embassy in Harare has adversely impacted thousands of Zimbabweans working on cruise ships.

Some ships have already notified Zimbabwean employees of termination and recruitment from Zimbabwe has been frozen.

At this juncture, cruise ship job recruitment by American Cruiseships of Zimbabweans has been put on ice.

The Zimbabwe Business Ideas and Network (ZBIN) is obviously concerned as we championed the recruitment of cruise ships staff and even had a chartered plane from Carnival Cruise, landing at the Robert Gabriel Mugabe Airport to pick up recruits back in June 2022.

It is difficult to come up with an accurate estimate of the number of Zimbabweans working on cruise ships, but it is important to factor in,

At least 600 recruited directly from Zimbabwe soil at job fairs held in Harare and Bulawayo by Msc Cruise in 2022 and 2023.

Thousands recruited from Job Fairs in South Africa from 2022 to 2024. Recruitments done in Joburg, Durban and Capetown.

Thousands of Zimbabweans also applied online and offered jobs from Botswana, South Africa and Zimbabwe.

From our forum ZBIN, we directly gave free advice to at least 1000 of our members who were successful from online applications and recruitments. A good number of them are still on the forum.

The US Embassy Harare Office was quoted by The Independent to have issued at least 2000 visas for cruise ship job applicants in 2023.

But the majority of visa applicants used the US Embassies in Maputo, Pretoria, Mbabane and Windhoek.

Therefore it’s safe to say up to 10,000 Zimbos impacted by the recent US Embassy Visa changes.

Earning an average annual salary of $10,000 per year. This means the country was earning an average of $100 million per year as most salaries were remitted back home.

We do not have the full facts as to why the visa tenures were reduced, but from social media reports; it seems the issue could be resolved.

We would also like to believe there is concern for the adverse impact, with high level attention given to the issue.

From our forum, most of those working on cruise ships are hard working youngsters with some helping families, raising capital for businesses and self improvement projects.

We therefore appeal for help on behalf of every Zimbabwean national, so that they keep their jobs and help the nation.

By default, collectively; they are also our investors. Some are participating in local projects banking funds in Zimbabwe.

We pray for resolution to the visas impasse as anxiety has gripped 10,000 cruise ship members, their families and dependants.

On behalf of ZBIN and Zimbabweans working on cruise ships.

Our first crowdfund to buy land is called Jangano Crowdfund and was formed last year around July and 65 Zbinites mobilized enough funds to buy land—they are almost done.

• Bank : FBC Amarounds Account
• Terms: Members contributed $30 per month x 9 months
• Membership: 65 Members from USA, UK, SA, Namibia, China and Zimbabwe
• Status: Identified a residential stand to build student hostels and almost a done deal. The project is closed from new entrants.

…………………….

Thuthuvaka Crowdfund.

Formed last month and to follow Jangano Crowdfund footsteps—eyeing land acquisition for commercial purposes.

Bank: ZB Clubs Account

Terms: Members to choose 2 options or both ($30 x 9) and ($50x 9)

Membership: So far 65 Members drawn from USA, UK, SA and Zim

Status: We got a bank account on Friday—15 August with funds deposits expected starting this week. New members welcome provided you are not completely new to ZBIN.

………………………

Where is the benefit?: We are not buying land from urban areas such as Harare where land is expensive—instead targeting small towns and rural councils with high growth potential. Areas with student accommodation deficits, fast developing gold mining areas, new areas with public schools deficits,

Risks?: Working with banks greatly reduce risks—And we witnessed this with Jangano. However currency conversions remain a key risk, and to manage this—our projects are short term. And to identify land for sale and pay deposits.

Spinoff Benefits: This is a lifetime low risks venture—however through solid business relationships built, you can start other projects such as Manufacturing, Savings Clubs or SACCOs as spinoffs. You use verified financial references and have shared land title as surety.

Interested?: If already a subscribed member, this is a benefit and to join the $30 option—it’s a commitment fee of $10, for $30 option its $15. If not subscribed—you subscribe first for $10 per year. Kindly contact on +263773055063.

We have been engaged by one of our members who is selling gold mine claims and other minerals around Zimbabwe and if interested kindly contact us on Whatsapp +263773055063.

• *Gwanda* | _ Gold Mine_ – 50ha | US$2m

• *Gokwe North* | _Gold Mine_ – 10ha | US$350,000

• *Mashava* | _ Gold Mine_ – 35ha | US$7m

• *Nyanga* | _Gold Mine claims_ – 250ha | US$250,000

• *Nkayi* | _ Gold claims_ – 700ha | $1.6m

• *Kadoma* | _ Gold Mine_ – 224ha | US$10.5m

• *Mt Hampden* | _ Granite Prospect_ – 50ha | US$2.3m

• *Gokwe North* | _ Gold claims_ – 130ha | US$180,000

• *Matabeleland South* | _ Gold Mines_ – 2700ha | US$8m

• *Mt Darwin* | _ Gold Mine_ -110ha | US$5.6m

• *Nkayi* | _ copper claims_ – 733ha | US$900,000

• *Kwekwe* | _ Gold Mine_ – 445ha | US$12m

• *Kwekwe* | _ Gold Mine_ – 750ha | US$4m

• *Masvingo* | _ Gold Mine_ – 55ha | US$3.5m

• *Chegutu* | _Gold claims_ – 190ha | US$700,000

• *Lalapanzi* | Copper – 94ha | US$350,000

• *Kwekwe* | Gold claim – 75ha | US$350,000

• *Kwekwe* | Gold Claim – 66ha | US$330,000

• *Shangani* | Lithium claim – 1292ha | US$1.9m

• *Kwekwe* | Gold & claim – 405ha | US$1.5m

• *Kwekwe* | Gold claim – 817ha | US$3.5m

• *Gwanda* | Lithium claim – 600ha | US$2.5m

• *Gwayi* | Gold,Copper,Nickel – 146ha | US$3.5m

• *Kamativi* | Lithium claim – 450ha | US$1.2m

• *Manicaland* | Molybdenum claim | 4571ha | US$200m

• *Uzumba* | Black Granite – 88ha | US$160,000

• *Uzumba* | Black Granite – 50ha | US$120,000

• *Mt Darwin* | Black Granite – 95.5ha | US$300,000

• *Gweru* | Gold Mine – 40ha | US$1.7m

• *Shurugwi* | Gold Mine – 70ha | US$2m

• *Beitbridge* |

Gypsum & Dolomite claim – 150ha | US$250,000

• *Bikita* | Lithium claim – 87ha | US$430,000

• *Shurugwi* | Boterekwa Gold claim – 260ha | US$800,000

• *Esigodini* | Gold heap leach claim – 150ha | US$850,000

• *Shurugwi* | Gold Claim – 300ha | US$3.5m

• *Mutoko* | Lithium claim – 900ha | US$1.3m

• *Beitbridge* | Iron claim – 150ha | US$400,000

• *Bikita* | Lithium claim – 150ha | JV option 35/65

• *Kadoma* | Gold Mine – 40ha | US$3.9m

Access to finance to the informal sector remains a huge challenge in Zimbabwe and the status quo unlikely to change in the near future. First, the numbers are too huge with the informal sector slowly becoming the Real Economy.

Economic sectors where the informal sector has taken over include the Transport Sector, Gold Deliveries, Retail, Tobacco Farming and the list is long and growing every day.

When it comes to banks lending the informal sector, the challenge becomes how when most have no assets that could be used as surety? Location in some cases is not fixed. The high risks profiles makes it difficult to extend loans to the informal sector.

The good news is that we have come up with an innovation which could be used and we provide a case study below;

In November 2024, 90 members from the forum started a crowdfunding project called Jangano Crowdfund to purchase land. All the members paid $30 for 6 months into an FBC Bank Amounds Account. The FBC Amarounds Account is tailor made for the informal sector—easy to open and run.

• Now Jangano Crowdfund has a record of performance with FBC Bank Account.
• Each member’s deposits are captured on a monthly basis—who has been depositing on time and who has been missing deadlines?
• The bank account also shows who has paid up front.

Members of Jangano Crowdfund are dotted across the country and also includes some from the diaspora such as UK, USA, SA and Mozambique.

Could this record be used as a credit score? Well its too short a period—just 6 months. But over 12 months to 36 months, performance could be used to judge how much each member is able to deposit.

The fact that someone is part of a team(First as a registered member of ZBIN) and secondly as a member of a Crowdfunding and lastly with own deposit performance record. The bank can be able to assess the financial risk of loans up to a certain amount. And the good news is that this applies to diasporans.

Message to informal sector: Yes its convenient to have cash in a cash economy—but try and open bank accounts for your crowdfunding projects. Have a performance record for the projects and individual members. This could become your credit scores in future.

Project capture is one of the most complicated areas where seasoned experts can struggle with. Capture science is rarely studied and only a few get to feel it through experience. Project capture happens at many boards, projects within companies, and in the open environment in areas such as start-ups and partnerships and community projects.

Where no legal documentation such as constitutions exist—capture is a breeze. Where new projects with no tried and tested systems exist—again capture is like slicing  cheese with a hot knife.

The first mistake most make is to focus on your project and failing to appreciate who could be interested—outside and within and what their plans could be.

Lets share some shield tactics for community owned projects.

Leadership Committee: Some leaders could be founders who may not have gone through elections. If the projects succeeds beyond expectations—there could be resentment and underhand tactics to join the leadership or expel the whole lot with a new capture team coming in. To curb this—have a constitution with limited tenure and elections. This is easy on paper as some could end up clinging on to power and not creating room for others. And this creates resentment and fuel strategies for capture.

Protecting Leadership: A leadership could be doing a sterling job but someone wants to be part of the leadership. Some of the strategies to barge in includes capturing the treasurer especially where cash is involved. Cash goes missing and chaos is automatic. The whole leadership is booted out creating room for new capture team. The treasurer is the easiest link where cash handling takes place. Innocent parties in the leadership in most cases get caught in the crossfire.

Therefore to protect innocent members of the leadership committee—in cases where the whole lot is booted out—the Risks and Management Committee should automatically come in—and this should be captured in the constitution. They do investigations—present to members with recommendations and if fresh elections are required, they do so. This singles out the guilty parties and not the entire leadership.

Still its complex as the new elected committee member could have done enough canvassing and yet guilty of triggering chaos.

Who moves in after chaos—a tricky and complex matter but at all costs move with caution when kicking out the entire committee.

2 Committees to find before capture: Having a leadership committee running solo makes them sitting ducks for capture. Those interested in turfing them out only have one collective target. Push them out using unorthodox tactics—and come in as Rescue Team. But if there is a constitutionally mandated team, this means capturers have 2 stairs to climb. In capture, they often move with speed and using speed to kick out one committee—and the second committee without detection or raising eyebrows–no stroll in the park.

You could reflect on projects you have been part of and reflecting on tricks and games employed by capture teams—there was a second in charge team that was the missing link, Missiles shot straight to one team and it was over.