The Diaspora and Philanthropy

by Victor Muchemwa on March 10, 2017

ZBIN is at the forefront of championing diaspora engagement so that the nation can benefit from the hard working sons and daughters who are living and working on foreign soil. We are championing this so that there can be a win-win relationship between Zimbabwe and the ‘Second Zimbabwe’, the ‘Second Zimbabwe’ has more than 4 million citizens and the number keeps growing. The current scenario is that of the Diasporas remitting close to $1 Billion annually, money remitted to assist relatives back home and small investment projects. We believe that there is room for improvement if a Policy Framework is in place to encourage investment by our brothers and sisters in the Diaspora. Some have already finished building homes in Zimbabwe and the Diaspora and are now looking for investment opportunities in Zimbabwe. Some want to invest in farming, mining, tourism, retail sectors and transport sectors. For them to do so and contribute to the growth of our country, they need formal acknowledgement. They would like to see Policies that helps to protect their investments; they would like to see an enabling environment for them. We currently have the developments of Special Economic Zones (SEZs) under consideration-how about Diaspora Economic Zones (DEZs)?

Last time we shared with you innovative ways of transforming the diaspora remittance sector such as Diaspora Bonds, we also covered the involvement of Micro Finance Institutions and gave you an example of an organisation called Kiva which links diaspora remittances with micro-finance. We also shared with you developments in India where there are formal Government mechanisms to engage the Diaspora such as the existence of a Ministry that deals with Diaspora Issues.

Today we will look at an interesting angle of the Diaspora and Philanthropy which should help us in assessing whether this is something we can try in Zimbabwe. We have provided you with 2 examples of organisations that have been set up in other countries to support Philanthropy work. The bottom line is that there is more that the Diaspora can do to contribute to the development of their countries-there is more beyond remittances!

‘Diaspora philanthropy can be said to represent the essence of the power of diaspora engagement. What greater privilege is there in life than giving back to your family – whether it’s one’s immediate or transnational family? Philanthropy is often equated to money, but its true deﬁnition of ‘caring for humankind’ extends far beyond this and the legacy generated by diaspora philanthropy will ensure that the diasporas engagement will have a lasting effect on the future of the homeland. Indeed, ‘Real generosity toward the future lies in giving all to the present.’ Albert Camus

The diaspora can help the development of philanthropy in the homeland in a number of ways:

By making outright gifts of cash, stock or property and visiting projects.
By making wills and bequests and other ‘planned giving’ products.
By adopting speciﬁc philanthropic projects in the homeland and acting as mentors to them.
By encouraging the Government in the homeland to create more conducive conditions for giving, particularly in relation to the taxation environment.
By investing in capacity building in homeland nonproﬁt organisations. One practical example of that would be offering to facilitate internships and exchanges of key personnel in the nonproﬁt organisations they support in their own country.
By helping the non-proﬁt sector develop best practice in new emerging areas such as venture philanthropy, social entrepreneurship, philanthrocapitalism, etc.

Relief and aid from diaspora members Diaspora members often engage with the homeland through relief and aid efforts in the aftermaths of natural disasters in the homeland. To harness the generosity of the diaspora in relation to relief efforts, a number of organizations have been established:

Fund for Armenian Relief: The Fund for Armenian Relief (FAR) was founded in 1988 in response to a devastating earthquake. FAR provides short-term emergency relief and implements long-term programs for the economic growth and social development of Armenia. It helps the most vulnerable segments of the population – children and the elderly – and prepares the youth and professionals to drive the country’s new democratic state. FAR implements a wide range of programs in Armenia and Karabagh: from emergency relief to construction to education, medical aid, and economic development. Since its inception, FAR has channelled more than $265 million in humanitarian assistance to Armenia. Headquartered in New York City, it also has ofﬁces in Armenia and in the Nagorno-Karabakh region of Azerbaijan. Its diverse programs include a Homeless Children’s Center, an Information Technology Centre, educational scholarship programs, a Medical Education Program, soup kitchens, and senior centers.

The Haitian Diaspora Federation: The mission of the Haitian Diaspora Federation (HDF) is to help create a stronger and more prosperous and equitable Haiti by mobilizing the Haitian diaspora resources to address the reconstruction, and sustained economic growth and development of Haiti. The Haitian Diaspora Federation (HDF) is a broad-based alliance of Nonproﬁt Organizations (NPOs) under one umbrella to amplify the voice of the Haitian Diaspora. In partnership with the international community, the Government of Haiti and other sectors, HDF will focus the Diaspora’s energy and resources on the ongoing relief and the longer term reconstruction efforts to rebuild a stronger, more vibrant and socially just Haiti. The Federation seeks to harness resources for the Haitian Diaspora organizations and ensure their active integration and participation, along with the international donors’ aid, in the delivery of an integrated plan of relief, restoration and local capacity building for the short and long-term welfare of the victims within Haiti’s long-term comprehensive reconstruction and sustainable development. The sense of duty to assist in the rebuilding efforts, to reach out to those in the homeland, to connect as a global community are often major catalysts in the diaspora becoming fundamental players in relief efforts.

Diaspora Matters

Tax and Customs Requirements For New Businesses

by Victor Muchemwa on March 9, 2017

We are always encouraging our members to be formally registered entities that comply with all national and local laws and regulations. One area that we really encourage our members to comply with is the payment of taxes. Others see the payment of taxes as an expense but to us we see it as an investment! Paying taxes and being compliant means that you can qualify for many tenders, many government programmes and also access credit. A bank is likely to give loan to someone who is tax compliant than one who is running away from tax authorities. Running away from tax authorities shows that you are ‘suspect’ and therefore your risk profile is very high!

So be tax compliant and the trick from most people entering the business sector is that make sure you pay tax from day 1. Do not wait to operate for a long period of time before deciding to be tax compliant because if you delay then its going to be difficult to adjust-so adjust from day 1. When we introduce the Diaspora Linkages Partnership programme, the first requirement is are you formally registered? If Yes then here is the bonus question, are you tax compliant? If you answer yes to the bonus question then you automatically qualify to be on our database. Paying tax is the first stage in showing that you are trust worthy but when you are operating below the radar, hiding operations and evidence of your income-then who can trust you with funds that do not belong to you? Chances are very high that you will just run away with investors funds.

Anyway this evening allow us to share with you Tax and Customs Requirements for New Businesses.You can find this information on www.zimra.co.zw.

One of the best ways of ensuring success and continuity in any business is to ensure that all statutory obligations are met in time. This article seeks to alert our valued clients who are about to start new business ventures on some of the basic requirements relating to tax and customs legislation.

Income Tax

All clients, including individuals, companies, partnerships and cooperatives who want to venture into any business venture are required to register with ZIMRA and comply with all obligations as stipulated in the legislation. To register, you are required to have a bank account among other requirements.
Once you have a bank account, you can then approach ZIMRA for registration. You will be required to complete registration forms depending on the nature of your business operations. All clients will be required to complete the REV 1 form, which can be obtained from ZIMRA offices or can be downloaded from this website. Once registered, you will be issued with a Business Partner Number (BP) which acts as the business’ identification number and is used for all transactions with ZIMRA, including remittances of tax. • After commencing operations, you are required to keep records of all your business operations and pay Provisional Tax on the stipulated dates (as shown below). The dates are referred to as Quarterly Payment Dates (QPDs). The Provisional Tax payable is based on the respective percentage of estimated annual tax due. The annual estimated tax due should be revised to update the estimate every quarter. • The form ITF 12B, which is a return for provisional tax payments, has to be completed in respect of these payments. • The payment dates and the percentage of tax due for each tax year are listed below:

QPD	Due Date (on or before)	Installment Due (as a % of the annual tax payable)
1st QPD	25^th March	10%
2nd QPD	25^th June	25%
3rd QPD	25^th September	30%
4th QPD	20^th December	35%

• Some businesses, operators are required to pay Presumptive Taxes and this includes operators of omnibuses, taxi-cabs, driving schools, goods vehicles, hairdressing salons, informal traders, operators of restaurants or bottle stores, small scale miners, cottage industry operators ,operators of commercial waterborne vessels used for the carriage of passengers for profit and fishing rigs.

• A tax return is required after the end of each tax year. The tax year runs from 1 January to 31 December of each year. Clients who have been specified in terms of Section 37A of the Income Tax Act [Chapter 23:06] as being on Self-Assessment are required to furnish Self-Assessment Returns in duplicate by 30th April of the following year. • Operators will also require a Tax Clearance Certificate – form ITF 263 which is issued by ZIMRA once you have met all the stipulated obligations which include submission of tax returns and remittances of tax due. If you do not have this clearance, anyone who pays you any amounts in excess of US$250.00 are required to withhold and remit to ZIMRA 10% of the amounts paid. • There is need to strictly observe the requirements in Section 80 of the Income Tax Act [Chapter 23:06]. It requires that all registered business taxpayers who enter into any contracts which result in an obligation to pay any amounts whose total or aggregate is US$250.00 or more to withhold 10% of each amount payable to payees who fail to furnish valid tax clearance certificates. Value Added Tax (VAT)

Any person who carries on trade in taxable supplies and whose annual taxable turnover exceeds or is likely to exceed US$60 000.00 must apply to register for VAT on Form VAT1. Responsibilities upon registration include:
Keeping accounting records for a period of at least six (6) years after the tax period to which the period relates.
Completing and submitting VAT returns even if you do not owe ZIMRA. ZIMRA will advise you of the frequency of submitting the returns though most clients submit returns either monthly or after every two months.
Calculating and remitting the VAT due to the Commissioner on or before the due date.
With effect from 1st January 2012, the due date for the submission of VAT returns and payment has been extended from the 20th to the 25^th of the month following the end of the tax period.
Issuing tax invoices for any taxable supply whose value is more than US$10.00.
Record transactions electronically. With effect from 1^st of October 2011, all registered operators are also expected to comply with fiscalisation regulations .This is a requirement where registered operators under category “C” and whose annual turnover exceed US$240 000.00 are expected to record transactions electronically.
Advising ZIMRA of any change in business details, including address, addition of/or change of partner, cessation of trade, etc.
Allowing ZIMRA officials to enter your business premises and examine goods and all business records.

PAYE

Every business person who becomes an employer is required to apply to the Commissioner General for registration within 14 days of becoming an employer.
The employer will be given the relevant tax deduction tables and informed of his/her obligations as an employer. Some of the obligations include:
Calculation and deduction of PAYE in accordance with the tax deduction tables
Remittance of PAYE to ZIMRA within 10 days after the end of the month during which the amount was withheld. Please note that with effect from 1st September 2010, the remittance of PAYE was moved from within 10 days after the end of the month during which the amount was withheld.
Keeping accounting records for a period of at least six (6) years.
Submission of the ITF 16 return which contains details on annual earnings, deductions, credits and PAYE for each employee within 30 days after the end of the year.
You will note that failure to withhold any amounts which you are required to withhold renders you liable to the amounts due as well as penalties and interest. Observing these basic requirements will assist you in running your business professionally and helps avoid the anxiety and stress associated with noncompliance and having to pay arrears, interest, fines and penalties.

PAYE tables are available on this website

Customs and Excise • In the event that you intend to import goods, you are still required to have registered with ZIMRA so that you have the BP number that will identify you as an importer. You will need a clearing agent approved and registered with ZIMRA to handle your importations or you may register with ZIMRA to do your own clearances. • For exports, you will also need an agent to handle the exports or register on your own with ZIMRA. • You are required to keep reasonable and proper records and books of accounts for all transactions and maintain records of all the bills of entry, bills of lading, rail notes, invoices and all other documents required to be accounted for in terms of the Customs and Excise Act. Retain all records for at least six (6) years.

Diaspora Matters

ZBIN Forum Failures : Learning from mistakes

by Victor Muchemwa on March 8, 2017

ZBIN is an innovation driven business forum which supports all forms of innovations from our community. We are always brainstorming on new ways of solving our business problems especially in the areas of Access to Markets( Objective 2) and Access to Capital (Objective 3). Now there is a downside to innovation and it is failure! Innovation and failure goes hand in hand and at ZBIN we do not celebrate failure -we also do not hide it! After every failure of an innovation or initiative, we go to the drawing board and find out why we failed and then put the initiative on hold and retry at a later time. Sometimes enterprising youngsters from the forum do take up the failed projects and introduce amazing innovations such as the recent App on Poultry Marketing.

The good thing about these innovations is that they do no cost money, we are not sinking anyone’s funds into these projects. So what are the failures that have been recorded by ZBIN to date?

Poultry Website: In March the forum created the first ZBIN website whose address was www.zbinchickens.co.zw. What a wonderful site-the site was supposed to help our community with access to markets by hosting free poultry adverts. We also had a Market Linkage section that allowed farmers and buyers to register and negotiate prices. We profiled farmers on a weekly basis so that they could help inspire others with their success stories and tips. The site had an excellent resources center with a lot of downloadable materials and resources such as Poultry Diseases, Poultry Business Plans and other resources. We had included a Price Tracker of all Poultry Products so as to help farmers track latest prices across the country and make informed decisions. We had included a Discussion forum to help members in discussing poultry issues. We also had plans to open a Poultry Online Shop to help in marketing poultry products. Then one day the unthinkable happened-our wonderful forum disappeared! We tried to get in touch with the website developer but he was not reachable…What a Shocker! Disappointed, we discarded the concept of resuscitating the forum because we had exhausted all energy in developing the site. There simply was no energy to redo the job and up to now we have no interest in developing another poultry site. We had developed what we feel was probably the best poultry site on earth because we had done extensive researches of all the sites in the world and also took into consideration the needs of our community.

Portuguese Learning on WhatsApp Group: We formed a group so as to equip members interested in touring Mozambique with Portuguese Speaking and Writing skills. Teaching members on the forum did not work as anticipated. We realized that the best way for members to learn was through engaging paid experts of use of Portuguese Learning Apps.

Buyers and Sellers Linkage: An initiative meant to help members struggling to sell goods or services, we linked up sellers and buyers-created a group for the members but it never worked. Credit goes to the developer of the Poultry App and we hope that he will extend the app to general products and services

Car hire linkage: launched in December 2016, this initiative modelled along the Uber service was meant to help locals with cars for hire to link up with tourists and Diasporans. This would eliminate car rental firms who are often expensive. The innovation had no takers, We will relaunch this initiative in June 2017 after carrying out detailed surveys and studies.

Online Forex Trading: It started on a promising note with a lot of members showing interest. We provided free training and resources on online forex trading. Where there are profits, Fraudsters are bound to be found. The founding Admin of the group decided to open a separate account where he started trading on behalf of members which was against the Forum Policy. The scheme never worked as had his own interests of quick riches despite repeated warnings. As advertised, we will be relaunching Online Forex Trading and this time we will work with members who know the basics. We will equip our members with simple online trading tips for free and members are supposed to invest their time in researching and practice. We will weed out those who try to create separate groups that promises quick returns or online forex traders who stay in hotels. Members will start with very low sums of startup capital where they will make a $1 profit or $1 loss but learning during the process. So the initial failure has not distracted us, we will relaunch on 1 May 2017.

Mozambique Business Tours: We realized that Mozambique has a lot of untapped business opportunities and decided to tap into these opportunities. The first activity in taking advantage of these opportunities was to visit the country. In March 2016, we carried out our first tour of the city of Tete which is located about 350 kilometers from Harare. This was a successful trip that opened our eyes to a lot of opportunities that abound in Mozambique. We discovered the presence of foreign nationals such as Filipinos, Mexicans and South Africans. It did not make sense why Zimbabweans were not benefiting by setting up businesses there. Two more trips were carried out with one in April and another in November 2016. We did not want mere trips but setting up of businesses by our members in Mozambique, establishment of partnerships by Zimbabweans and Mozambicans. To date only a few have benefited and for the rest there is little to show for the investment in the 3 tours in 2016. As a follow up, we hope to create a database of opportunities and also provide information such as registrations, rentals and local bye laws. Our members should go to Mozambique with ready information on investment, ready to register, open bank accounts and start operations. This is a more efficient and effective way of using resources than just visiting Mozambique for sight-seeing. We hope to have this database by June 2017.

So we are not hiding our failures, we are not celebrating either but are highlighting them so that we can learn and improve. We are going to keep on innovating and promote innovations from our members. We are not going to be afraid of failure but will learn from them rather than hide or stopping new initiatives because ZBIN is an innovation driven organization. They say Failure is Success if you can learn from it.

Diaspora Matters

Relaunching the ZBIN Online Forex Trading Group

by Victor Muchemwa on March 7, 2017

ZBIN is the pioneer business group in Zim in terms of OnlineForex Trading. We started on a good note before one of the founding admin decided to trade on behalf of members. The scheme never succeeded because the objective of the group was for members to get information about online forex trading and trade on their own. You get elementary information and then try on your own. A lot of practice required on a dummy account where you are supposed to master the basics.

We have had a lot of dubious trainers who train people and after training they then ask members if they are interested in having funds invested on their behalf-this never works as Online Forex Trading is a high risk area. There are no success stories of people who benefited from such arrangements. In forex trading, the rule is that you have to carry your own cross-trade on your own!

So what are we proposing this time around?

We will be relaunching Online Forex Trading on 1 May 2017 which is 2 months away. We will develop a strong and closely knit family of online forex traders, who can share information and resources. Everythin being conducted in a transparent manner. We would like to have a closely knit family that regularly meets and discuss on strategies, what is working and what is not.

So who can join?

We have learnt in the past, if you are not good with Mathematics then you are going to struggle, so allow me to exclude this group for now. We are inviting folks who are very good with their Maths, fast learners and willing to research and learn from others. We currently have 2 groups- the first one for Online Forex Traders in Zimbabwe and the other one for SA citizens.

Quick Riches?

People will learn slowly on their own-we hope to take advantage of the presence of seasoned traders on the forum in terms of resource sharing. This is not a get rich quick scheme-you have to put in a lot of hours trading small amount such as $5, making profits of say 50 cents till you are comfortable. If you are looking forward to making instant riches, then this programme is not for you.

What to do between now and May 2017?

Make this website your favourite site www.babypips.com. All the resources you need are found there. We also urge you to open a dummy Meta Trader Account and familiarise yourself with the tool. You can access a lot of videos on Online Forex Trading from Youtube.

Wishing you the best

Diaspora Matters

Real Estate Matters: Low Density Residential Stands in Harare

by Victor Muchemwa on March 7, 2017

Did you know that in 2003 a houses in High Density Suburbs in Harare had a price range of US$8,000-10,000? Houses in Mabelreign $30,000-$40,000. A 1 bedroomed flat in the City Centre had a price range of $6,000-$12,000. A 2000 square metres residential stand in Ruwa was going for US$2,000. This is the time where those who had emigrated to UK simply took loans or montages of 10,000 Pounds and buy a home in the medium density surbubs. Fourteen years down the line the situation is totally different with $8,000 only buying you a 240 square metres residential stand in Glenview 7!

Anyway today we are not comparing prices but just giving you information for decision making. If you are thinking of buying a residential stand in the low density areas, the leafy surbubs of Harare-how much do you need for budgeting purposes?

Rolf Valley $135k for a 4,000 sqm stand

Gletwin $45k for a 2,000 sqm stand

Shawasha $85k for a 4,230 sqm stand

Glenlorne $75k for a 2,100 sqm stand

Glenlorne $53k for a 2,000 sqm stand

Borrowdale Brook $140k for a 4,000 sqm stand

Borrowdale $60k for a 1,000 sqm stand

Borrowdale $140k for a 1,384 sqm stand

Philadelphia $60k for a 2,000 sqm stand

Mt Pleasant $100k for a 4,000 sqm stand

Mt Pleasant $50k for a 2,000 sqm stand

Mt Pleasant Height $25k for a 1,000 sqm stand

We obtained the above information from newspaper adverts and the site www.classifieds.co.zw. So on average one needs at least $50k to obtain a residential stand in the leafy suburbs of Harare. Prices can be negotiated downwards if you have cash-we urge our followers to be careful of cash purchases though as chances of getting duped are extremely high when cash is involved. Another caution to our community is to avoid infill stands at all costs-200% of them are dubious properties.

In future we hope to give you more trends such as the cost of building homes, new residential projects, real estate fraud trends and many more. We are also looking forward to covering Melfort in the next instalment.

Diaspora Matters

App to help market chickens developed

by Victor Muchemwa on March 6, 2017

Objective Number 2 of ZBIN is Access to Markets. We would like our members to have easy access to markets so that they can concentrate on what they do best-farming! Our farmers should spend more time running around trying to ensure that they produce the best agricultural produce and not worry about who will buy their products. Access to Markets is our biggest challenge and this is why 2 weeks ago I had to spend the greater part of my day with a team from ZBIN Poutry Members trying to brainstorm on how to solve the Access to Markets Puzzle. One solution we came up with is having a Poultry Company that buys poultry from our members and sell in bulk to retailers. Some time back we had initiated a programme called Market Linkages of linking Poultry Farmers and Buyers-the scheme never took off because our Poultry website, www.zbinchickens.co.zw was mysteriously pulled down. So one of our members has revived the dream of market linkages and we are extremely proud of this development.

This is fabulous news for the ZBIN community-we have an innovative solution to the Markets Hurdle. A new App has been developed that links farmers and buyers. Developed by Mathew Rhuhwaya, the App is called Poultry Market Room (PMR). Details of the new app are listed below:

POULTRY MARKET ROOM’ (PMR) is a mobile marketing business tool designed to revolutionise the poultry market.
PMR deals with all types of poultry from chickens and quail to guinea fowl and turkeys so all niche markets are included. Registration on the platform is a simple process where all one needs is an internet connection and a registered mobile number.
PMR brings ease of access, scalability and efficiency by establishing a self regulating poultry market that benefits all parties involved. PMR has an easy to use interface and takes a minimalist approach in its design.
By offering a platform where buyers and sellers in poultry can meet in a single dedicated poultry marketplace PMR provides a unique competitive advantage to its users:
• Secure, mobile and on demand
• Run customized searches
• Exponentially increased market accessibility
• Creative and innovative ecosystems of poultry dealers
• Provide real time interface with an active market
• Simultaneous negotiations with multiple dealers
• Electronic payment options
• Peer to peer rating system
• Scale and growth in the volume of poultry trade
Buyers and Sellers post customizable deals and negotiate anonymously with each other. They assess each other through the use of a ‘peer to peer’ rating system thus ensuring a self regulating platform that automatically maintains high standards. Thus buyers can maximize their ratings by making reliable and prompt payments, while sellers can ensure high ratings by supplying superior quality produce on time. This all encourages a healthy scalable and competitive marketing ecosystem.
Access the poultry market at your convenience anytime, anywhere through your smart phone device.

You can access the App on the link below:

https://play.google.com/store/apps/details?id=com.pmr.poultrymarketroom

Diaspora Matters

How do companies compete?

by Victor Muchemwa on March 5, 2017

Imagine yourself helping a friend who has found commercial space at Makoni Shopping Centre. This friend would like to open a new pub at this popular business centre in Chitungwiza.

There are more than 30 bottle stores and pubs at this busy centre. So the question to ask is how are you going to compete with 30 or more competitors selling the same product? Is he going to reduce the price of beer? This is not feasible as the price of beer from the major beer price, Delta is the same. Selling at a lower price in order to attract customers is not feasible at all. So what are the options available to him? In the past a few club owners had DSTV sports that helped them to attract revellers interested in watching their favourite soccer teams in action. This competitive advantage over rivals did not last long as everyone soon followed. So given the few options available to gain a competitive advantage over competitors, what can this friend do to compete against others?

He can spruce up the place so that it looks fresh-one strategy to compete against others maybe service-the quality of service that he gives to clients.

He may consider hosting sporting tournaments such as Pool at his bar, this may help attract

Introduce Mbira Concerts, few pubs host Mbira Music and yet it is popular and does not require a lot of capital to attract bands. A case in mind is that of the hugely Mbira dze Dzimbahwe in Budiriro or the former Beer Engineer Mbira group-Samaita who used to fill the venue before relocation to USA.

If you ask me to go and open a pub at Makoni Shopping Centre, I would think again because there are just too many pubs/bottlestores at the place making profitability a challenge. This has led business people to look elsewhere for entertainment business and one such place is Tanza Centre.

The example above was just giving you an example of the decision making that an Entrepreneur goes through when deciding to set up a business-competition analysis! How you are going to compete will either break or make your business.

In 1985, Harvard Business School professor Michael Porter wrote Competitive Advantage. He outlined the three primary ways companies achieve a sustainable advantage. They are cost leadership, differentiation, and focus.

Cost leadership means you provide reasonable value at a lower price. Companies do this by continuously improving operational efficiency. That means usually pay their workers less. Some compensate by offering intangible benefits such as stock options, benefits, or promotional opportunities. Others take advantage of unskilled labour surpluses.

Differentiation means you deliver benefits better than anyone else. A company can achieve differentiation by providing a unique or high-quality product. Another method is to deliver it faster. A third is to market in a way that reaches customers better. A company with a differentiation strategy can charge a premium price. That means it usually has a higher profit margin.

Focus means you understand and service your target market better than anyone else. You can use either a cost leadership or differentiation strategy. The key is to focus it on one specific target market. Often it’s a tiny niche that larger companies don’t serve. For example, community banks use a focus strategy to gain sustainable competitive advantage. They target local small or high net worth individuals. Their target audience enjoys the personal touch that big banks may not be able to give. They are willing to pay a little more in fees for this service. These banks are using a differentiation form of the focus strategy.

So we have given you 3 strategies for competing, going back to my friend at Makoni Centre, he cannot use the cost strategy because of the reasons I explained before. This leaves him with differentiation or focus. Focus remains a viable option if he focuses on Mbira Music Lovers.

We can also analyse how ZBIN was formed. We realised there was no platform for business discussions on Social Media especially Facebook. All Zimbabwean business pages were formed for adverts. A total of 10 groups existed at the time when we formed ZBIN. We decided to focus on business discussions and business exchange of ideas. This became our focus and identity. We do host a couple of limited adverts but this area is not our key strength, we have concentrated on what we do best-business discussions!

So you too can analyse your current business set up. Remember that you cannot do everything-rather concentrate on what you are good at, what provides you with a competitive advantage sustainably.

Diaspora Matters

Funds Available to SMEs in South Africa

by Victor Muchemwa on March 5, 2017

One of our key objectives as ZBIN is the provision of information related to Access to Capital. This morning we do share with our members in South Africa, important information on accessing funding.

The information was previously compiled by GAA Accounting.

By Afzal Khan

Afzal Khan attempts to address the lack of awareness of some governmental sources of soft capital.

Small medium entities (SMEs) are the building blocks of an economy. According to research performed in 2010,1 91% of the entities in South Africa are SMEs, of which 61% contribute to the country’s employment statistics. Of the 91%, 52–57% contributes to the country’s GDP. This study emphasises the importance of SMEs to any country’s growth. The economic boom in many countries has been due to their SME market.

Mind-set

Entrepreneurship in South Africa is sometimes defined as unique ideas, inventions and technologies. This definition is terrifying to the average entrepreneur. Consider China where entrepreneurship is simple … make anything as long as you are cheaper than the next guy.

The South African government has benchmarked against the global economy and understands the importance of providing fertile ground for all types of SMEs to spawn and grow. Many government initiatives are under way but perhaps we are not aware of them.

Our government has attempted to provide such support via a few mechanisms, namely:

Preferential procurement and BEE codes
Tax incentives for entrepreneurs and big business who work with entrepreneurs
Provision of grant funding and soft loans

In this article I will deal with the last of the three and highlight some of the sources of capital so that you may further investigate them. However, be aware of the tax benefits for small business and those that partner with small business.

Also note that an offshoot funding structure has emerged due to the Enterprise Development requirement in the BEE codes. Private organisations provide soft funding for BEE companies in order to obtain their Enterprise Development points.

Cash flow

One of the four main ingredients required for an SME to spawn is cash flow. In our country as with other countries there exist entrepreneurs in our wider population. Unfortunately most tend to lack capital or the awareness of the sources of soft capital. Our history has exacerbated the lack of capital within a community. Hence the private sector invisible hand of Adam Smith cannot work to support entrepreneurs as there is no soft capital in the community.

However, there is a lack of awareness of some governmental sources of soft capital. These are discussed below.

Department of Trade and Industry (DTI)

Various grants are available to SMEs in various different sectors. The DTI has various programmes and grants in place to encourage new SMEs and to create employment in our country. These are summarised below.

The Black Business Supplier Development Programme (BBSDP)

This is a grant that encourages black businesses to grow by acquiring assets and operational capacity. The BBSDP allows for a maximum of R1 million investment to a 51% black-owned entity of which 50% of management must be black, as defined. Of the R1 million:

R800 000, of which R400 000 is contributed by the DTI and the remaining amount is to be contributed by the entity, is to be used for machinery and equipment
The remaining R200 000 is to be used to develop the business contributed in the ratio 80:20 between DTI and the recipient.

Co-operative Incentive Scheme (CIS)

This scheme is for co-operatives formed with five or more black members. A co-operative is a body of people who come together for mutual benefit either in a social, economic or cultural way. This scheme aims to promote co-operatives on a 90:10 cash basis grant by assisting co-operatives to meet their start-up requirements. The maximum amount that this scheme offers is R350 000.

This scheme is offered to co-operatives incorporated and registered in the Republic of South Africa (RSA) that are operating in emerging sectors within rural and semi-urban areas whilst abiding by the principles of co-operatives. This scheme is biased towards woman, youth and disabled individuals. Significant emphasis has been placed on this area by DTI.

Technology and Human Resources for Industry Programme (THRIP)

THRIP is a project between DTI and the NRF (National Research Foundation).This scheme was implemented to increase the high level technical skills for the industry and improve South Africa’s competitive edge through the development of technology. This grant is primarily aimed at engineering graduates. The THRIP fund capacity is R150 million. THRIP aims to develop these SMEs into large companies, expanding the networks and allowing these SMEs access to scientific expertise, equipment and facilities at partner research entities.

Incubation Support Programme (ISP)

This grant is aimed at initiating entities to allow them to develop incubator programmes and thereby create employment within the communities and in turn strengthen the economy. The programme is aimed at encouraging partnerships between the private sector, SMEs and Government in order to create sustainable growth within the economy by creating these incubator programmes. The ISP is available on a 50:50 cost-sharing basis between the government and the private sector. The ISP must offer the SME a cost-sharing ratio of 60:40. This is capped at R10 million a year for three years. The ISP also provides mentorship to develop the necessary services and grow the entity. The ISP lasts for two to three years in which time the incubator should become self-sustainable.

The costs that the ISP will cover include the business development services, market access, machinery, equipment as well as tools, the infrastructure of the entity that has to do with the creation of the incubators, feasibility studies, product or service development, as well as operational costs.

Capital Projects Feasibility Programme (CPFP)

This project is aimed at RSA enterprises in the capital goods sector that have the potential to boost expansion and employment within the country by attracting foreign investment. Feasibility studies in the capital goods sector play an important role in opening contract and project opportunities. This project is a cost-sharing (55:45) programme and includes the costs of the feasibility (50:50) that will increase local exports and stimulate the market for RSA goods and services. The grant is capped at R8 million.

The objectives of the CPFP are to:

Increase domestic and foreign investment
Create employment
Create demand for RSA goods and services
Create upstream and downstream links between SMEs and BEE firms

The criteria for the projects are:

New projects, expansion of existing projects and stimulating existing projects
Feasibility study fulfils the objectives of the CPFP
Minimum local content (50% for goods and 70% for services)
Project must have a chance of success

The scheme pays the full cost of the feasibility study and the rest will be paid as per milestone achieved.

Clothing and Textile Competitiveness Improvement Programme (CTCIP)

This is a grant designed for the clothing and textile manufacturing industry. It is directed at the international market for quality and affordable clothing. This grant is aimed at individual companies or clusters (a group of manufacturing companies).

The programme cost-sharing grant ratio entails that investment is given to RSA ordinary clusters in the ratio of incentives given of 75:25. The grant cannot be used for machinery, equipment, commercial vehicles, land or buildings. The grant is capped at R25 million over the period of the programme implementation.
The cost sharing ratio for national clusters is:
Year 1: 100% Investment grant
Year 2: 95% Investment grant
Year 3: 90% Investment grant
Year 4: 80% Investment grant
Year 5: 70% Investment grant

Manufacturing Competitiveness Enhancement Programme (MCEP)

The purpose of this grant is to improve manufacturing competitiveness in the South African manufacturing and services support market. The feasibility study is done on a cost-sharing ratio of 50% for applicants with total assets with a historical cost of at least R30 million and for applicants with less than R30 million in historical cost of total assets is 70%. To get this grant applicants need to submit a pre-feasibility study that shows projections of a minimum of R30 million. The feasibility cost is capped at R7,5 million.

The tax benefit of this grant is as follows:

7% of manufacturing value added (MVA) (enterprises + R200 million in assets)
10% of MVA for enterprises with an asset value of R30 million to R200 million
12% of MVA for enterprises with an asset value of R5 million to R30 million
15% of MVA for enterprises 100% BEE with an asset value of below R5 million

MVA is calculated as follows: sales/turnover – sales value of imported goods – sales value of other bought-in finished goods – material input costs used in the manufacturing process.

Enterprise Investment Programme (EIP)

This programme is for the manufacturing sector. This investment grant is between 15% and 30% towards machinery, equipment, plant, and customised vehicles. The incentive is capped at R200 million per application. For less than R5 million of investment, the benefit is up to 30% payable over three years. If the investment is between R5 million to R200 million, the benefit will be 15% over two years. Foreign investment projects include the cost of transporting the qualifying machinery and equipment to RSA as part of the grant.

Qualifying expenditure includes machinery and equipment, land and buildings acquired as part of the investment projects and commercial vehicles.
This programme has two parts to it:

Manufacturing investment programme (MIP): This grant is for the promotion of manufacturing in metal fabrication, chemicals, plastic fabrication, pharmaceuticals, furniture, automotive and components.
Tourism support programme (TSP): This is for the creation of jobs outside the main tourism destinations (Cape Town, Durban and Johannesburg). The government understands the importance of this sector in its economy. The TSP offers grants of +30% of qualifying capital investment by enterprises investing less than R200 million.

Foreign Investment Grant (FIG)

The objective of this grant is to provide support for the actual cost of transport of qualifying new machinery and equipment. This is to attract foreign direct investors to set up operations in RSA. The grant covers 15% of the value of the imported machinery and equipment to a maximum of R10 million.

Product Incentive (PI)

This grant is also for the clothing, footwear, textiles and leather goods industries. The benefits are limited to a maximum of 10% of MVA (sales-materials input costs). The grant is payable on proof of qualifying expenditure.

Sector Specific Assistance Scheme (SASS)

This grant is a re-imbursable grant and is re-imbursed in the ratio of 80:20. The grant comprises two parts:

SSAS generic funding: Funding of a non-profit organisation that grants R50,000 for establishment of an export council. There is a matching grant of up to R1 million based on membership income of 2:1 for operational costs.
SSAS project funding: This is a re-imbursable grant that is given in an 80:20 cost sharing to export councils, joint action groups (JAGS). It is for SMEs, woman, youth and disabled persons.
SSAS: Project funding for emerging exporters: This project compensates an entity in respect of activities aimed at the development of South African exporters. This fund benefits a person by paying for a return fare economy class as well as accommodation and transport as well as exhibition costs and marketing materials. The amount per project is capped at R1,5 million.

Seda Technology Programme (STP)

This programme provides for a maximum grant of R1 million. Of this R1 million, R800 000 is to be used for tools, machinery and equipment of which 35% is contributed by the DTI. The remaining R200 000 is to be used in the business development programme on a 50:50 basis.

Bavumile

The object of this grant is to empower South African women in the arts and crafts sector. This fund is to ensure the quality production of commercially viable products by women with the relevant skills.

Isivande Women’s Fund

This fund is managed by the DTI. Its purpose is to promote the economic empowerment of women. The grant is allocated to a company owned and managed by women (60%) which has existed for two years. The loan is from R30 000 up to R2 million.

Critical Infrastructure Programme (CIP)

The grant covers the development costs from 10% to a maximum of 30% towards the improvement of the critical infrastructure. This amount is capped at R30 million.

Export Marketing and Investment Assistance (EMIA)

The DTI assists South African exporters by organising events in which local products can be showcased to international traders. The DTI bears all costs of these exhibitions.

Group outward-selling missions: This is aimed at foreign buyers wanting to conclude orders with South African exporters.
Group outward-investment missions: This is aimed at foreign investors wanting to invest in the South Africa.

Both of these grants assist with investment/export seminars and conferences, market research missions and lobbying missions. Exporters are compensated for the following: return economy airfare, subsistence allowance per day, transport of samples, and marketing materials to a maximum of R100 000 a year. Under this grant, 50% of patent registration costs in a foreign jurisdiction are covered.

Film and television incentives

The South African government offers incentives to promote this industry.

Foreign film and television production and post-production incentive:

-Foreign films and television productions shot in South Africa on location has an incentive of 20% of the qualifying South African production expenditure (QSAPE).
-Shooting in South Africa on location and conducting post-production with a qualifying South African post-production expenditure (QSAPPE) of R1,5 million attracts an incentive of 22,5% of QSAPE and a cumulative 2,5% is added on for the QSAPPE.
-Shooting in the RSA and conducting post-production of R3 million will result in an incentive of 25% of QSAPE and 30% of QSAPPE (a cumulative 25% added to the additional 5%).
-Foreign post-production with QSAPPE of R1,5 million will attract an incentive of 22,5% of QSAPPE.
-Foreign post-production of QSAPPE of R3 million will attract an incentive of 25% of QSAPPE.

SA film and TV production and co-production:

The incentive is available to qualifying South African productions with a total budget of R2,5 million.
The rebate is calculated at 35% of the first R6 million of QSAPE and 25% of the QSAPE on amounts above R6 million.

SIZWE/FABCOS

This loan funding is provided to BEE SMEs that are incorporated and working within South Africa. The funding offered can be from R10 000 to R3 million. SIZWE/FABCOS will contribute 90% and the remaining 10% is the entity’s contribution. This is repayable over a period of five years at a rate of prime +3%. This fund is operated in conjunction with SIFA/Khula.

Business Partners

Loans and equity investments are available to the public on researched and tested products.

Business Partners offer two options:

• They obtain a shareholding and retain it for five years whilst participating in shareholder and director meetings. They also offer guidance in management matters. During these five years if surplus cash is available they advise to pay the other shareholders loans. After five years they either sell to a third party or to the existing shareholder.
• This option is a normal loan in which they provide a term loan, usually five years. Depending on the risk and business model it will be prime +?. Loans can be from R500 000 up to R10 million.

Red Door Funds

Nedbank/Khula

Nedbank in conjunction with Khula offer SMEs loans.

Khula-Akwandze Fund

This is an agricultural loan for the crop establishment and re-plantation of crops. For this loan, a cane delivery agreement needs to be in place. The entity needs authority to occupy the land. The loan starts from R1 300 and goes as high as R15 500 per hectare.

Anglo Khula Mining Fund

The equity stake taken cannot exceed 49% of the issued share capital. The amount offered is between R1 million and R20 million.

Small Business Development Fund

Godisa Supplier Development Fund

The focus of this fund is the development of BEE-owned companies (SMEs) in Transnet’s procurement chain with focus on rail and port business. The fund amounts to approximately R165 million of which an average of R5 million will be granted per project.

SEFA

The funding amount starts at R500 000 and is capped at R5 million. The fund will contribute 90% and the remaining 10% must be contributed by the entity. The entity must be owner-managed. The loan must repaid within five years.

Umsobomvu Youth Fund

Franchise Fund

This fund is managed by Business Partners. The SME would require an amount of R150 000 to R3 million to purchase a new or existing franchise which is viable or has the potential to be viable. A 30% shareholding needs to be held by a black South African youth who must be operationally involved.

Micro Finance

This fund is managed by the Nations Trust and Micro Enterprises.

Micro Enterprises:

− This loan is available to a South African black youth aged between 18 and 35 years requiring a loan capped at R20 000.
− The business must operate in the Eastern Cape, Free State, Limpopo or Mpumalanga.
− The South African black youth must be operationally involved in the entity.

Nations Trust Youth Enterprise Finance:

− Applicant needs to be an 18–35-year-old black South African youth requiring a loan of not more than R50 000 to operate an existing business in affixed place or expand an existing business.

Youth co-operative finance

The registered co-operative must have a shareholding of at least 50% black youth with a stable and credible management team requiring a loan of not more than R500 000. All members of the co-operative need to be operationally involved. The funds must be used to start up a business or expand an existing one.

Diaspora Matters

Opportunities at Business Centres in Rural Areas

by Victor Muchemwa on March 5, 2017

Here is an interesting observation from the 2012 Zimbabwe Census- ‘In 2002, 65 percent of people lived in rural areas whilst 35 percent lived in urban areas. However, the 2012 Census shows that 67 percent now live in the rural areas whilst 33 percent live in the urban areas’

The trend in urban to rural migration should have continued from the 2012 and am sure when another census is done, results should confirm this. So today we cover Rural Area Business Centre Opportunities because this is an area overlooked by many. Most people view rural areas as places that offer little or no opportunities at all. Its even worse for the Diaspora when you are so far away and you are not aware of recent changes that have happened in terms of urban to rural migration. Let me start by telling you a short story of my journey to a rural area called Musana Bindura.

In 2006 I visited relatives in this rural area which is located 60km to the North East of Harare. My car had mechanical problems which were being attended to by a mechanic and this prompted me use public transport. I boarded a kombi from the Fourth Street Bus Terminus and within an hour I had reached my destination. I expected my return journey to be smooth sailing. After finishing my business, I decided to come back and at 2:00pm I was at the bus stop waiting for a kombi going to the city. I waited for close to 30 minutes without seeing any kombi going to the city and decided to inquire from locals when I could expect to board the next kombi. Imagine my shock when I was told that the last kombi had left at 1:30pm and I had to wait for private cars or possibly walk a 15 kilometre journey to Shamva Road!

I decided to wait for private cars but none came. I eventually phoned my mechanic to check whether he had finished fixing my car, luckily he had done so and my wife had to drive and pick me up at 6:00pm-what a relief! Now imagine 2:00pm and you are already late for transport back to the city on a Saturday afternoon?

Anyway this was in 2006 and is the situation still the same in 2017? Dear reader, the situation has improved drastically as more than 30 kombis go to this area on a daily basis. The last kombi leaves around 8:00pm. There is so much traffic such that iam tempted to say this rural area is a new suburb for Harare. Locals in the area can be forgiven for calling the area ‘Glen Lorne Extension’ because every 30-45 minutes there is public transport going to the city or to Nyava Business Centre.

I do not really know what happened in the past 11 years but from general observations, it seems that the population size has increased tremendously. More people have relocated to rural areas especially areas that are near Harare-the peri urban areas. One can include Domboshava,Seke,Goromonzi,Chihota and Zvimba.

A look at Domboshava Showgrounds Business Centre shows an increase in shops at the business centre- they now have a Service Station and Pharmacy-business ventures previously unheard of in rural centres. Business is not bad for those who have set up business ventures at rural business centres although almost everyone is doing the same business with hardly any new and innovative business ideas being introduced. Munhu wese general shop,bottlestore,chigayo or butchery.

Some retailers in rural areas should be competing pound for pound with their counterparts in Harare when it comes to daily sales. We are therefore urging ZBIN members to relook at the opportunities that exist in rural areas because apart from the Rural Urban Centres, some are making a living through various farming projects such as raising Poultry, Piggery Projects and various other Agro-Processing projects.

We will carry out detailed studies on opportunities in the peri-urban and share with you. For now we urge you to look to look at these areas as new new surbubs for all cities. If you are in Harare then you should consider Domboshava, Zvimba, Seke, Goromonzi, Musana and Chihota as ‘new surbubs’ with opportunities that need to be tapped into.

Diaspora Matters

Why you should join ZBIN

by Victor Muchemwa on March 4, 2017

We only have 3 forum objectives and they are (1) Access to investment and business information (2) Access to Markets and (3) Access to Capital for our members. Three simple objectives for all of our members who are mostly based in Southern Africa and beyond.

We have done well in Objective 1 –Access to investment and business information. We have been giving you information on business trends, new investment ideas and general business information for the past 2 years. Our Facebook page has a lot of useful business discussions, our Whatsapp groups have active business discussions from our members. In terms of information provision, we believe that we have done fairly well. There is room for improvement in terms of quality and we hope to recruit interns who will assist with market researches so that our members can make informed investment decisions using information that is evidence based. We also hope to improve in terms of coverage because we have concentrated on Harare only and not covered the rest of Zimbabwe and the region.

Objective 2–Access to Markets. This is an area of weakness because we have not done enough to enable our members to sell their goods and services. The good thing is that we are aware of this area of weakness and are taking corrective measures with a number of initiatives lined up for the rest of the year.

I did spend the greater part of Saturday last week talking to some of our members during a meeting that we held in Harare. We brainstormed on the Poultry Market Challenges, as you may be aware-access to markets for our poultry members is a big challenge which is hampering the growth of the sector by our members. We came up with various business models that should help solve the challenge. One of the model is the formation of a company that buys poultry from members and sell in bulk to retailers. So one company that specialises in market identification and selling chickens. Farmers would concentrate on what they do best and that is producing chickens and not have to worry about the marketing side.

We also have an Online Car Boot Sale which is looking at the creation of one regional market for goods and services in Southern Africa. This should help members in selling goods and services beyond the borders. We are initially targetting Malawi, Zambia, Namibia, Botswana and Zambia because these are the countries that follow ZBIN closely. We are going to invest a lot of resources inorder to tap into the opportunities that abound in the region.

Objective No 3: Access to Capital: Perhaps the bigggest hurdle in the ZBIN community-Money an other resources inorder to start businesses. Where is the Money ZBIN? We have not done much in terms of enabling our members to access capital. On objective 1-Access to Information, we have covered business plans, crowdfunding and listed ZBIN members looking for investment partners. This is not enough because we have few success stories of members who managed to access funding through the forum.

We are aware of this greatest weakness to date and the good thing is that we have a number of initiatives and innovations that are coming up. The first one is the development of an investors database where our members will list their business plans. A typical business plan should contain the name of the organisation, history,capital structure,detail of goods and services,name of industry and level of competition, competitive edge, current and proposed financial information and the proposed investment that require funding. You can refer to our post on business plans for reference. So we hope to ensure that all members requiring capital have this information in our database. This should help potential investors to invest if they are interested. Last week, we did share a list of members looking for investors-this is not enough as it barely covered the basics described above.

So we will prepare our members for investment with ready business plans to submit to banks or any other lenders. We are also going to carry out some test cases where we will choose the best business plans for partnerships with Diasporans. Your company will have to under go some tests such as verification of your company existence, verification whether you are registered and comply with all local laws and regulations. We will also check whether you have a clean Police Record because we would not like to put our reputation at risk by asking investors to partner with someone who has high risk of default. You should provide evidence of handling funds from others such as banks before we shortlist you. We should be done by June 2017 so that we can publish the database for the benefit of our members.

We will be sharing more information on funds availability and this includes researches on loans that are available to the Small to Medium Scale (SME) sector. We will advise you on which funders to approach and why. We will do advocacy in this area so as to help push for favourable terms for our members. We will explore innovative solutions in the area of funding such Crowdfunding.

More work

As you can see, there is more work to be done by your favourite forum.We are going to require more people to achieve the 3 objectives listed above. We will invite volunteers from across the region and the Diaspora community. Volunteers to compile lists, volunteers to write business articles and contribute to objective 1. We are going to require volunteers to come forward and share their success stories so that they can inspire others. The objective being to see the success of our members because a ZBIN member should be well informed in terms of business. A ZBIN member should have access to Markets and Capital. Together lets work together to make it a success!

ZBIN Board composition

We have set up a team of board members to drive forward our 3 objectives. We happy with the impressive skills they possess. These are people who are already successful in their respective fields and simply volunteered because they believe in the vision of the organisation. A gender balanced organisation, ZBIN is chaired by Sis Martha, a leading NGO field personality who has won several international awards in the field of HIV and Aids. She also holds various board membership in Zimbabwe and the region. She will be leading a team composed of the following board members.

2.Farai, MBA, CPA,CGMA- a qualified Accountant who is based in USA. Currently working as a Finance Manager, He will bring in business leadership and management skills to the board. Farai will be the Deputy Chairperson of the ZBIN board.

3.Laureen– Based in USA, Laureen has a strong background in the medical field and brings a lot of networking expertise to the board.

4.Tavaziva, CA- a qualified Accountant (Chartered Accountants South Africa) Tavaziva brings to the board leadership,financial and risk management expertise to the group. He is based in the United Kingdom where he works as an Internal Audit Manager. He is currently pursuing Chartered Financial Analysts (CFA) studies.

5.Rudo-Rudo is based in the United Kingdom, a former teacher in Zimbabwe and a medical field professional, she brings a lot of networking and capacity building skills to the group.

6.Farai– Farai based in South Africa is from the Engineering field and holds a Bachelor of Engineering (B.Eng.), Civil and Water Engineering (Hons) a Master’s degree, Water Resources Management and a Masters in Business Administration. She brings to the board a lot of engineering,innovation and business management skills.

7.Polite– MBA-Polite brings in a lot of capacity building, enterpreneurship and consulting skills to the board. He is currently based in Plumtree.

8.Victor– ACMA,CGMA, Based in Harare, He brings a lot of experience and skills in Entreprenership, Innovation, Capacity Building, Risk and Financial Management.

9.Rutendo-Rutendo is a lawyer by profession and is currently based in Harare. She brings in entrepreneurship and legal skills.

10.Maggie-Maggie comes from the Marketing and Human Resources Management field, a holder of a Marketing Degree, she is finalising MBA studies with the National University of Science and Technology. Currently employed as a civil servant, Maggie is the secretary of the board.

Board Statistics

Total members:10	Maximum term limits:2 terms
Gender Analysis: (60% women-40% men)	Location : 60% Diaspora-40 % local
Location : 2 USA, 2 UK, 1 SA, 4 Zimbabwe	Professional background: 3 Qualified Accounts, 1 Lawyer, 2 Medical Field, 1 Engineering, 1 Business Consulting, 1 Marketing and 1 NGO Management.
Zimbabwe location: Harare 3, Plumtree 1	Members all Zimbabwean

Term Limits and Handover

The team has been in existence from the start of the forum in February 2015. Our official term begins in March 2017 and ends in March 2027. Serving a maximum term limit of 2 terms, we have to develop one of the best regional business forum that helps in business and investment in Southern Africa. Starting with a capital of less than $1,000-we hope to leave a balancesheet with 7 digit figures in value when we leave. Hope to have assisted hundreds of thousands of Southern Africa citizens with information, access to markets and capital. We will handover a thriving business forum to the next generation of business leaders who will carry on with founding vision.

We will distribute the constitution of the forum to our members in future. Please note that a bigger council is going to be in place that has a total of 30 members. This will ensure that we cover some of the regions that have not been covered on the board such as Australia, Namibia, Mozambique, Malawi and Cape Town.

Formal membership Registration

The board is not going to be responsible for member registration, we will recruit a secretariat in the next 3 months. The secretariat will be responsible for formal registration and we are looking at recruiting an initial 5,000 members and most members to come from those already on our Facebook and Whatsapp forums.

So in summary, your forum is here for Business and Investment Information, Access to Markets and Capital. Your forum as already demonstrated during the past 2 years, will be anchored on transparency, innovation and intergrity.

Please note that we are not an investment authority, so do not approach us with money for investment.

Wishing you a Blessed Weekend