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Standard Chartered CEO’S Message

Award ceremony in pictures

AMH CEO Mr Raphael Khumalo

BAZ President Mr George Guvamatanga

part of our focus to improve access to cutting edge banking technology. • Our Customer Charter is our Consumer Banking promise to our customers to be treated fairly, receive excellent service, appropriate financing solutions and an enduring relationship. To deliver on our promise, 401 employees completed Complaints Handling training in 2013. • We continue to improve our month on month Net Promoter Score (NPS) which has averaged 80% in 2013. Our goal is to become the Bank our customers recommend to their friends and colleagues and this is becoming a reality. Through our high service standards we are gaining our customers’ loyalty and recommendation.

Leading as a responsible company

“I am delighted that Standard Chartered Zimbabwe has won this prestigious award for the third year running. Whilst the economic environment has been challenging, we have been the fabric of the community in Zimbabwe for over 120 years. Standard Chartered has a unique brand – we combine our international expertise and capabilities with deep-rooted local knowledge and experience, enabling the Bank to deliver on superior financial performance and customer service. This award is testimony that the Bank is living up to its brand promise to be Here for good. We will continue to support and build our franchise in the country going forward and remain committed to our customers and the people of Zimbabwe.

Axel Schimmelpfennig Guest Speaker IMF

Guest at the function

About the Group

Our strategic intent is to be the best international Bank leading the way in Asia, Africa and the Middle East. We’re one of the world’s most international banks having been in existence for over 150 years and now boasting of a network with over 1,700 branches in 70 markets across the globe. The Bank’s Sustainability approach to business ensures that it delivers benefits through its Economic, Environmental, Governance and Social contributions to the communities where staff live and work.

Contributing to the real economy

The Bank’s economic contribution to the economy of Zimbabwe has been the culmination of significant support in key sectors such as agricultural sector, trade, commodities and SMEs. Using our wide network, we also link Zimbabwe to Asia, Middle East and the rest of Africa. Supporting SMEs • We serve over 7,200 SME clients in the country by placing our expertise gained from across our footprints at their disposal; helping them develop their capacity and grow their business. • We have delivered US$30 million worth of credit in support of SMEs in 2013 up from US$24 million in 2012. • We received an award at the SMEs International Expo in 2012 for “the working together, we can make a difference” initiative for SMEs. Wholesale Banking and Sector Support

• Through our wholesale banking busi-

ness, we have delivered US$360 million worth of support to key sectors like agri-

Standard Charted Bank CEO Ralph Watungwa (Left) receiving the Top Bank Award from the Zimbabwe Independent Editor Dumisani Muleya

culture, trade, commodities and others in 2013. A 20% increase from 2012

• The agricultural and commodities sector re-

mains key to the Zimbabwe economy. In 2013, over US$230 million in credit support was offered to the sector. • The manufacturing and commerce sectors received US$ 105 million worth of support. • US$25 million worth of support went into the trade sector.

Agricultural investment in Zimbabwe

In 2013, Standard Chartered, through its relationships with key commodity processors and players in Zimbabwe, entered into strategically tailored funding arrangements that facilitate


Approximate number of growers

Individuals Benefiting

Tobacco Cotton Sugar Tea General

7,700 100,000 282 2,000 21,500

38,500 700,000 1,400 10,000 105,000




support for the farming sector from production through to sales. Facilities exceeding USD 230 million, supporting over 275 000 growers / households, have been provided to merchants, processors and other intermediaries in the agro sector over the past year. We finance growers in tobacco, sugar, cottons, tea and grains.

Market Support

• Standard Chartered, together with its corporate partners, identified the need for rural based growers to have ready access to inputs and ready access to markets for their produce. • The identified processors and suppliers have leveraged off the funding provided by the Bank to provide / resuscitate a network of depots and outreach sites. Consumer Banking

• Through our total branch network of 25

branches , 2 agencies and 36 ATMs across Zimbabwe, we have remained at the forefront of providing access to financial services to over 90,000 customers. • An increasing number of our clients are using our Mobile and Internet Banking platforms as

Good Governance • To guard against the risk of financial crime within our business, we focus on training our employees, strengthening our screening systems and ensuring that our policies and procedures are effective and up to date. • We endeavour to ensure our staffs meet customers’ needs in line with the dictates of Basel II accord, the Customer Due Diligence (CDD) process and the Anti-Money Laundering (AML) law. • We provide mandatory training to all our employees on fighting financial crime and bribery. In 2011 we aligned our existing anti-bribery controls with the requirements of the new UK Bribery Act. • We maintain a high standard of compliance with local regulations in Zimbabwe. • We remain an apolitical institution committed to engendering good governance , socio economic development and a better future for all in Zimbabwe in line with our Here for good brand promise. • Our new refreshed Group Code of conduct which builds on our values and our brand promise, guiding us to the standards required to help us prove that we are here for good has been rolled out to all our staff in Zimbabwe and staff are also in the process of recommitting to the new code. Total Tax Contribution • The Bank contributed US$ 7.6million in corporate taxes and US$3.2m personal taxes to the economy in 2012. • The Bank received an award in 2013 from Zimbabwe Revenue Authority for consistently and timeously meeting its tax obligations Developing human capital

• Our operation in Zimbabwe has as-

sumed the position of the training ground for professionals in the Zimbabwean financial sector. Approximately 20 Standard Chartered alumni hold key positions in the country’s banking sector, with five being CEOs. • We have 52 Zimbabwean staff working in SCB offices across the globe some in CEO, regional and Group positions. • Standard Chartered Zimbabwe currently employs 780 people with 51% being females. • In partnership with local universities, Standard Chartered runs Graduate Trainee and Internship programmes which see over 20 students receiving training from the bank on an annual basis. Standard Chartered Bank remains committed to the long-term interests of staff . To page B4



Investing in Communities

Our brand promise to be here for good in Zimbabwe means sustainable, long term commitment to the people of Zimbabwe. Employee Volunteering • In addition to their annual leave, every staff member at Standard Chartered, globally, is entitled to three (3) days of volunteering in the community. The Bank’s objective is to encourage employees to commit their time and unique skills to help meet the needs of their local communities. • In 2012, SCB Zimbabwe staff achieved 962 Employee Volunteering days translating into an achievement of 157% of the target in support of community investment programmes. Areas of focus included the environment, financial literacy, health and education. To date over 835 days have been volunteered by staff. Community Month Programme

• Our community programme has been running

for the past eight years. This year 44 charitable organisations benefitted from a budget of $40 000. Staff took the time to go and spend time with the less privileged in our society. Beneficiaries of Community Month Activities

• Ruwa Rehabilitation & Danai Children;s Home • Mbuya Nehanda Children’s Home • Voice of Peace • Matthew Rusike Children’s Home • Montgomery Heights • Lovemore Children’s Home • Ark Of God Children’s Home • Isheanesu Children’s Home • Bindura Hospital • Chinhoyi Hospital • Chingele Orphanage • Mustard Seed Orphanage • Tose Respite Centre • Mother of Hope Orphanage • Kwekwe General Hospital • Mushawevana Children’s Home • Robert Mugabe Orphanage

• Mutemwa Leprosy Centre • Mvurwi Hospital • Mbebi Primary School • Just Children Foundation • Chitenderano Children’s Home • Cheshire Home • Vic Falls Old People’s Home Seeing is Believing:

• Since 2003, we have reached over 100 000

people in Zimbabwe with essential eye care through Seeing is Believing. • In 2012, in partnership with Eyes for Africa we provided eye care services through the development of primary and secondary eye care services in Rusape. Over 300 people were screened and 83 people received free cataract operations and regained their sight during an eye camp held at Rusape General Hospital. • In 2013, we partnered with Morgenster Mission Hospital Eye Unit to provide eye care services in the Masvingo Region. An eye camp, where disadvantaged people were screened and cata-

ract operations conducted fro free, was run in Chikombedzi area in Chiredzi. Over 180 people were screened and 60 people had their sight restored through cataract operations. • A state-of-the-art eye machine valued at $20 000 was donated to Morgenster Mission Hospital Eye unit to assist in efficient eye operations at the hospital Living with HIV and AIDS:

• Standard Chartered is a key member of the

Zimbabwe Business Council on AIDS which provides valuable leadership in the fight against the disease. The Bank’s former CEO was the founding Chairman of the Council. • Since the inception of the Bank’s Living with HIV initiative in 2006, over 4282 people have benefitted through training including customers, the Bank’s staff and students. Additionally the Bank has initiated its groundbreaking training in schools and social organisations. To page B5

Social Responsibility First Pack understands the concept of social corporate responsibilty and therefore has been taking part in various community projects in a bid to plough back to the society.

Besides several donations made to our Police force and learning institutions, we have also taken an active part in cleaning the environment that we operate in.

The Management and staff of First Pack would like to congratulate Standard Chartered Bank for being awarded the Top Bank of the Year (2013) accolade.


First Pack in collaboration with Girls high School spent a day cleaning the streets of Harare as part of the society, First Pack saw it fit to show the world that it should learn to be responsible with the environment. A clean environment is a hygienic environment. This is the second time First Pack has participated in environmental campaigns. Last year it also donated to the environmental campaign that was held at Mukuvisi Woodlands in Harare which had the theme ‘I care for my country’.Various schools, organizations, police forces (e.g. Kwekwe and Harare) have benefited in First Pack’’s social responsibility activities.

Technology improves service!!

127 Masotsha Ndlovu, Cnr Seke Rd.Hatfield. Harare: Tel 581950-6

We have also taken an active part in cleaning our environment


Nets for Life: • Through our anti-malarial partnership with Nets for Life, we have brought benefit to over 1.2 million people across the country since 2007. • Over 66,000 treated nets have been distributed under the Nets for Life initiative across 5 out of 10 regions in Zimbabwe. • To strengthen the educational awareness aspect of the Nets for Life initiative, 976 Malaria Control Agents (MCAs) have been trained since inception of the program in Zimbabwe. • There is a 45% reduction in malaria morbidity across the board in areas covered by Nets for Life. Education •The education sector is key to any nation. Eight students whom the Bank sponsored through high school are now at various universities in the country and continue to benefit from the Bank’s bursaries. Beneficiaries of the Tertiary Bursaries Environment • We continue to look for ways to minimize our



Tadini Masawi

BSc Chemical Engineering


Moyo Relax

Bachelor of Commerce Accounting


Ndlovu Chenjerai

BSc Environmental Science


Miriam Ndlovu

BSc Quantity Surveying


Loice Takaidza

BSc Environmental Science

Bindura University

Amanda Dube

Bachelor of Commerce


Edna Ranganai Bhosvo

BSc Local Governance


Blessing Chikwenjere

BSc Pharmacy


direct impact on the environment. In partnership with Friends of the Environment, we have sponsored an awareness campaign over the last four years in four regions of Zimbabwe. • Twenty of our staff participated in the Friends of the Environment 2013 walkathon to Mt.Darwin. • In 2013 The Bank sponsored the creation of a nursery situated at Madziwa High School in Mt. Darwin that will see the production of 500 000 tree seedlings per year. The saplings will have direct benefit to the school and the surrounding communities. • In 2013, in partnership with the City Council, Standard Chartered installed branded bins around the Bank’s Head Office and Robert Mugabe Road branch as a way of driving the message of a clean environment. • During the UNWTO General Assembly in August 2013, the Bank planted 1200 trees on both sides of the border (Zimbabwe and Zambia) in a bid to make the General Assembly a greener one. This was the first initiative of its kind and included high level Government representation from both countries.


• We continue to ensure all our financing is aligned to the relevant position statements and the Equator principles.

2013 Awards of Excellence • Best Bank in Zimbabwe 2012 & 2013 – EMEA Africa Finance Awards • Best Bank in Zimbabwe 2012 & 2013 – The Banker • Best Emerging Markets Bank in Zimbabwe 2013- Global Finance magazine • Best Bank in Zimbabwe 2011, 2012 & 2013 –The Zimbabwe Banks and Banking Survey Magazine • Service Champion of the Year- Megafest Business Magazine • Financial – Lifetime sector award- Rec ognising contribution to development of the financial sector over the years- Zimbabwe Investment Authority

TSL Divisions TSL Limited is a conglomerate with interest in the following sectors:

The board, management and staff of TSL Limited would like to congratulate

27 x 5 TSL

For being voted the best bank in Zimbabwe in the banks and banking survey 2013 . . We are proud to be associated with you

Please visit our website at



Banks & Banking History Alpha Media Holdings, the publishers of NewsDay, Zimbabwe Independent, the Standard and Southern Eye annually produce an independent survey of the financial sector of Zimbabwe. The Banks & Banking Survey is a Zimbabwe Independent product and the country’s premier financial services sector publication. This annual survey is designed to meet a clear need on the market for a comprehensive assessment of financial institutions in Zimbabwe. In conducting the evaluation of the financial institutions, the survey considers, among others, the quality of the balance sheet, management profile, the competitive profile of banks, longterm business philosophy, the ability to sustain operations going forward and the environment in which the financial institutions surveyed operated.

Banks and Banking: A brief history The Banks & Banking Survey was first conducted 12 years ago and published as a16-page supplement in the Zimbabwe Independent. It has grown into a major business survey presented annually to provide expert analysis and comparative studies of the financial sector using international benchmarks. The survey has become an authoritative measure of sector performance and a barometer of the economy’s general state of health. The results of the survey are presented at a breakfast which brings together key players in the banking sector, industrialists, political leaders, officials from the Reserve Banks of Zimbabwe and civic society. The pinnacle of the breakfast is a key note address from a prominent sector player from the region.

Research A dedicated team of market analysts, stockbrokers and economists are engaged annually to compile the editorial content for the magazine. This content is complemented by specialist articles and analyses from gurus in Zimbabwe’s financial services sector to produce a muchsought-after publication which has been cited in many business publications and business schools on the continent. Each year, the publication dedicates substantial space to recognise the sterling work of a prominent financial sector player. The outstanding individual is presented with an Award at the Banks & Bank breakfast. Past business leaders to receive this honour include RBZ Governor Gideon Gono, former FBC Bank CE Livingstone Gwata, and CBZ’s Dr John Mangundya.

Survey Format and selection criteria A scorecard was developed for the examination and ranking the strength of Zimbabwean banking institutions. The Strongest Bank Ranking Scorecard is based on the premise that the strongest banks in the country are those that have a clearly strong domestic business franchise, reasonable profit levels, good asset quality and low risks to earnings and liquidity. The model considered the following metrics in evaluation: 1. Size of the bank balance relative to the country’s gross domestic product (GDP). 2. Balance sheet growth as represented by growth in loans and deposits. 3. Risk profile metrics namely loans-to-deposit, capital adequacy and operating profits total income. 4. Profitability, ROE, ROA, Cost-to-income and non-funded to total income ratio. To page B7

The main business of African Distillers is to manufacture, import and market branded wines and spirits for distribution in Zimbabwe and for export. African Distillers began in April, 1944 as P J Joubert (Bulawayo) Limited. Later in 19 4 6, the

company changed its name to African Distillers (Rhodesia) Limited. The company’s main business was the sale of imported spirits, liquors and wines, but with the purchase of a distillery in Mutare, it began production of its own ra nge of spirits in November 1946. In 1974 African Distillers moved to its present headquarters, the former Gilberts Distilleries, at Stapleford and in the same year the company became directly involved in the production of wine.

Six fully stocked depots around the country at Bulawayo, Harare, Kwekwe, Masvingo, Mutare and Victoria Falls ensure first -class distribution and customer service. The three Cash & Carry Outlets in Harare, Mutare and Bulawayo cater for the c ash cus tomers.


5. Domestic franchise as represented by market share of total banking deposits. 6. Asset quality as represented by non-performing loans to total loans and advances. 7. Funding liquidity; liquid assets to total deposits and borrowings.

1. Standard Chartered Zim. 2. Stanbic Zimbabwe Limited 3. MBCA Bank 4. BancABC 5. CBZ Bank CABS was ranked the best building society 2011

Presentation of results The survey is presented in magazine format and is printed on gloss art. Copies are sent to banks, key stakeholders and listed companies on the Zimbabwe Stock Exchange.This prestigious survey is certain to be retained by our readers for a longtime, as it provides useful information of the banking industry products to the advertiser and investors.

1. Standard Chartered Zim. 2. ZB Bank 3. Met Bank 4. BancABC 5. CBZ FBC was ranked the best building society

Past Winners List of the top five financial institutions for the years 2011 and 2012.

Sponsorship The survey is sponsored annually by AMH and a partner from the banking sector. This year’s survey is being sponsored by Steward Bank. In the past FBC bank and CBZ bank (formally known as the Jewel Bank) have sponsored the survey.

BAZ President Mr George Guvamatanga receiving a gift



2013 YEAR


Property Management




Bard Real Estate

69 Samora Machel Ave, Harare, Email:, Tel: +263 4 755 338/ 748 785/ 781 856/ 749 993 Fax: +263 4 749 507


1st Floor Forestry Commission Building 71 Fife Street Bulawayo, Tel: +263 9 606 47/8, Website:




Axel Schimmelpfennig receiving a gift

From Left: FBCH Group CEO Mr John Mushayavanhu, AMH CEO Mr Raphael Khumalo and Standard Charted Bank CEO Ralph Watungwa

AMH Commercial Director Rita Chinyoka and Axel Schimmelpfennig


Office Ingredients & Cleaning Materials

Industrial & Commercial Food Service Equipment



Standard Chartered’s good environmental governance Protecting the environment has been, for long, a key sustainability agenda for Standard Chartered Bank. Resource scarcity and rising energy prices are just some of the indicators adding urgency to the necessity of creating energy efficiency. The Bank’s sustainability approach to business ensures that it delivers benefits through economic, environmental, governance and social contributions to the communities where it operates. Our brand promise to be ‘Here for good’ means sustainable, long term commitment to the communities in which it operates and in this case the people of Zimbabwe. We continue to look for ways to minimize our direct impact on the environment. In partnership with friends of the Environment (FOTE), we have sponsored an awareness campaign over the last four years in four regions of Zimbabwe. In 2013 the Bank sponsored the setting up of a tree nursery at Madziwa High School to the tune of USD 30,000. This is indeed testament to our commitment to the Zimbabwe environment. The nursery will have the following benefits for both the school and local community: 1. It will create education with production for the school children as they get practical lessons on tree planting and national reforestation 2. It will produce a minimum five hundred thousand (500 000) seedlings every 12 months which will have a direct benefit to the school as proceeds from the sales will go towards various needs of the school. 3. It will provide saplings for the community in pursuit of the reforestation efforts to be undertaken by local communities in Mashonaland central. 4. It will serve as a referral centre for all tree, garden plants and herbs requirements in the province both in terms of the supply of seedlings and knowledge dissemination to communities. As a build up to the official opening of the nursery on the 7th December 2013, twenty of our staff members participated in the 170km walkathon to Mt. Darwin held over 4 days. As a way of going the extra mile, the Bank’s staff raised some funds through the ‘sponsored walk concept’ of which the Bank matched dollar for dollar. The total amount collected will be donated to Madziwa High School for fees for the underprivileged in the first term in 2014. Education can never be separated from the environment and it is an area of focus for the bank, hence this initiative. The Madziwa High School tree nursery was officially opened by the Minister of Environment, Water and Climate, Honourable Saviour Kasukuwere.

Standard Chartered Bank 2013 Walkathon participants

Tree Planting at Madziwa High School Other activities on environment In 2013, in partnership with the City Council and the Bin-It programme, Standard Chartered installed branded bins around the Bank’s Head Office and our Robert Mugabe Road branch as a way of driving the message of a clean environment. Standard Chartered Zimbabwe and Standard Chartered Zambia entered into a partnership with the United

Legal Practitioners 10 Selous Ave Harare

The Kantor & Immerman Team congratulates

Ralph Watungwa, CEO planting his tree

Nations World Tourism Organisation (UNWTO) in a bid to make their General Assembly, held in Victoria Falls, Zimbabwe and Livingstone, Zambia on August 24 to 29, a greener one. With the aim of reducing the carbon footprint of the Assembly, Standard Chartered, together with UNWTO local liaison office and Zimbabwe’s Environmental Management Authority, planted 1200 trees representing the 1200 delegates at the event. The trees were planted on either side of the two borders between Zimbabwe and Zambia. In what was months of preparation, we built partnerships with the relevant government ministries in both countries (Ministry of Tourism and Hospitality and the Forestry Commission in Zimbabwe and Forestry Commission and Ministry of Tourism in Zambia); community members; traditional leaders; business leaders; school children; religious representatives and the UN in order to effect the initiative. The trees were planted in and around Victoria Falls with a special focus on the Mpisi Village.

For their outstanding performance in the year 2013 We are proud to be associated with you and we wish you continued success.

Tel. 793626-9, 704438, 704351/2 Fax. 704436, 707141 Website Address:

Mpisi Village

Mpisi is a traditional satellite village, which was set up as a UNWTO site under its STEP programme (Sustainable Tourism for the Elimination of Poverty). The venue will be a tourist attraction, affording tourists a “local experience” with traditional cuisine, arts and crafts and accommodation. In addition to planting the trees at Mpisi, Standard Chartered’s sponsorship also enabled the setting up of Mpisi with its necessary features in time for the assembly which included sprucing up the votels (village hotels) to hold the board meeting of UNWTO Sustainability Tourism for Elimination of Poverty (STEP). Ralph Watungwa, CEO of Standard Chartered Zimbabwe, commenting on the project said: “We believe in achieving business ambitions while minimizing our footprint and direct impact on the environment through the continuous strengthening of key environmental measurements and waste reduction programmes. As such our partnership with the UNWTO General Assembly amplifies our belief and ensures that as a country we are environmentally conscious. Our colleagues in Zambia will be planting trees along with us, ensuring that the two host countries will have minimal environmental impact and help reduce the carbon footprint of the assembly.”

Congratulations to Standard Chartered Bank for once again being awarded Top Bank of the Year.

Winning is a state of mind Or more precisely, an approach which provides a structure to tackling the challenges in the business environment. Our Winning framework highlights key objectives and actionable business responses to help you achieve superior performance. Take the lead at © 2013 Deloitte Touche Tohmatsu Limited



Make banking personal again Digital technologies are influencing every part of our lives, including the way we bank. As banks shift to a more digital approach, it is important that they remember the ‘personal’ in personal banking, says Steve Bertamini, Group Executive Director and CEO, Consumer Banking, Standard Chartered Bank.

How often do you visit a bank branch? Or speak to someone from your bank on the phone? Chances are, not very often. Banking is migrating to digital channels, which raises the question of what’s going to happen to the personal relationship between banks and their customers. In an increasingly digitised world, how do we keep the ‘personal’ in personal banking? Arguably, banks have some catching up to do. At the heart of it all, banks need to think experiences, not channels. They need to become fundamentally useful and relevant to customers again, and bring everything together in a way that works for people. Banking is, and has always been, a service, and speed and convenience are of the essence. To customers, it’s all banking, whether they are in the branch, on the Internet or on mobile – whether they need a loan, or to pay somebody, or to take out a credit card. So finding that different parts of the bank don’t talk to each other, or that different channels don’t offer the same functionality, or that basic tasks such as opening an account takes too long, can be frustrating. Disjointed service is not just impersonal; it’s also at odds with the great retail experiences customers now enjoy outside the banking industry. To emulate these, banks must first of all think of banking like customers do. This means integrating IT systems and tearing down product and channel silos, so customers get seamless and consistently great service at each touch point through a holistic ecosystem. At the most basic level, customers should be able to navigate the bank’s website as easily on their mobiles or tablets, as they do on their desktops. Digital now trumps physical channels in many countries around the world, according to Bain & Company, with online exceeding the sum of branch and ATM interactions in the US. And, not surprisingly, the preference for digital is greatest among Generation Y, the banking customers of the future. By 2017, some one billion people will be using mobile banking, up from 590 million today, according to Juniper Research. Generally, when adapting their strategies, banks have been focusing on making products, transactions and channels work for the digital environment. What’s missing is the ‘human’ part – the part that has to do with the needs, sentiments and preferences of individual customers. Person-to-person contact may become a rarity, but customers don’t want to be treated as ‘one of the crowd’. In fact, with digitisation, they expect more personalisation than before. Banks must invest more time in understanding the total relation-

ship the customer has with them, and how behaviours are changing. In which contexts might a customer look at taking out a loan, or pay somebody or apply for a new credit card? How can the bank make its services available in a way that is more convenient, more timely, and most importantly, more relevant for the customer? Digitisation offers great opportunities to personalise service for hundreds of thousands of customers, cost-efficiently, but banks are only just beginning to explore these – integrating online banking with call centres, for example, or using video conferencing and social media to let customers connect with relationship managers. Another area where banks could undoubtedly do better is on the use of data to serve customers in more helpful and proactive ways. This is both about making banking available in the context where people need it, and about using analytics to make pre-emptive offers to customers. Quite rightly, people expect the banks they have trusted with their money to know them and to shape their services accordingly. For example, banks can use database tools to keep an eye out for ‘events’ that indicate a change in the customer’s needs or sentiment towards the bank – such as a significant account movement, change of address, addition of a new family member or the loss of a credit card. Many banks are now looking at including customers in innovation and testing, to engage them more around the bank’s brand and create a dialogue about what ‘excellence’ in banking should stand for. Using social media to talk to customers about products, facilitate social sharing and to deal with problems openly is a crucial part of this. Customer advocacy has come to the fore, as customers increasingly turn to their peers or other independent sources for financial information and advice. At Standard Chartered, for example, our standard for our banking websites now includes integration with social media to allow customers to share offers and stories about the bank. Personal relationships don’t happen automatically, and as interaction goes virtual it becomes easy to focus and get lost in technology. But technology is just an enabler. The core of banking is, and always will be, the customer. Get it wrong and the rush to digitise banking could see customers getting lost and turning to other providers who offer the personal touch. But get it right, and digitisation offers a way back to the basics of what banking should be all about – meeting people’s needs, whether it’s to buy their own home, go on holiday, do the shopping or save up for the future.


The Tanganda Tea Company has its origins in farming in the Chipinge district of Zimbabwe as far back as 1910, over 100 years ago. The name ‘Tanganda’ itself comes from the name of a river that runs through one of the Company plantations, but to most Zimbabweans, it is now synonymous with tea. Tea was first planted commercially in Zimbabwe in 1924, when two Assam planters, Arthur Ward and Grafton Phillips, using seeds carried back from Assam by Mrs Florence Phillips, established a small tea plantation on New Year’s Gift estate in the Chipinge district of the Eastern Highlands of Zimbabwe. From this small beginning, Tanganda has developed the country’s largest tea company in Zimbabwe.

1925 - A bold decision was made in 1925 to attempt to grow tea on an experimental scale, for the cultivation of tea was considered to require at least 1270 mm of rain per year and no rainfall records had previously been kept at New Year’s Gift. It was not until the nursery of tea seedlings produced from seed specially imported from Assam was established, that it became evident that the rainfall was much below requirements. Undefeated by this adverse factor, however, one of the many early setbacks, it was decided to experiment with irrigation from the Tanganda River which flows through the estate. This unique experiment in tea cultivation proved successful and the irrigated garden flourished.

1928 - During 1928, a few grammes of tea from the first plantings were plucked and manufactured in the homestead kitchen by Mrs Florence Phillips and samples were sent to London and Calcutta for tasting and approval by professional Tea Tasters.

1930 - Together with a few

friends in the tea industry in the United Kingdom and India, Messrs Ward and Phillips established a company which was later expanded into the Rhodesia Tea Estates Limited, which started with just 3.5 hectares of tea. From these humble beginnings, the Tanganda Tea Company now comprises six estates; New Year’s Gift, Ratelshoek (established 1932), Jersey and Zona (established 1944) and Avontuur/Petronella (established 1990) with a combined yield of 10,000 tonnes of tea per annum. The Meikles family got involved with Tanganda Tea Estates in the early 1930s and has overseen the development of the Company ever since then. The name Tanganda, so intimately connected with the prosperity of the original estate at New Year’s Gift, is now known for its quality, strength, freshness and full flavor qualities which are constantly being improved as a result of continuous care and research. The Tanganda Tea Company (Beverage Division) now consists of a blending and packaging plant in Mutare with sales and distribution depots in Harare, Bulawayo and Mutare. Products are distributed to wholesale and retail outlets on both the domestic and export markets. The administration and financial controls for the division are located in Harare. Major company brands include the following: Stella, Tanganda, Silver, Joko, Special Blend Teabags, Tanganda Tips, Classic Gifts, Fresh Leaves and Rooibos. Tanganda opened its mineral water bottling plant in August 2006, initially producing over 7,123 cases of ‘ tingamira’ water. By year end 2010, the Company produced almost 267,000 cases and with the installation of the new bottle blowing machine, by working three shifts a day, the Company is able to produce 25,000 bottles (500 mls) of water daily.


Lift off with Tanganda From the moment you wake up, there’s nothing like Tanganda Tea to lift you up and make every day a great day! Be good to yourself! Drink bright, fresh Tanganda everyday!



Nyaradzo Funeral Assurance providing real value We have tailor made our products to suit your pocket size, cultural beliefs and practices, family values and individual tastes. They range from Group policies, family cover and individual plans

Nyaradzo is a dynamic organisation, led by an experienced and energetic management team, whose collective passion is service. We are here to serve and have been doing this for a decade. We strongly believe that the provision of service is easier done when the tools of trade are all lined up under one roof, this is why we have over the years endevoured to create a one stop shop. We help our customers plan for the inevitable through our funeral assurance division. Through Nyaradzo Funeral Assurance, clients can effect funeral policies that are in keeping with their preferences and pocket size.

ment solutions. The synergies within the Group have proved to be a major competitive advantage in the provision of efficient and quality service to current and potential clients. Nyaradzo is a wholly owned Zimbabwean company that is keen to play an active, significant and positive role in the country’s economic turnaround programme.

On a day they stop breathing we will be there to give them decency through our services arm, Nyaradzo Funeral Services. In Calundike Exports, we have a supplier of quality coffins. By having a manufacturer of coffins and caskets in-house, we can control both quality and price and keep our promise to customers. Eureka, our Insurance Broking arm completes the group’s one-stop shop concept. The Nyaradzo Group is made up of three strategic business units namely; Nyaradzo Funeral Assurance Company, Calundike Exports, and Eureka Insurance Brokers. Nyaradzo Funeral Assurance Company operates through two divisions namely Nyaradzo Funeral Assurance and Nyaradzo Funeral Services . The Group offers a onestop-shop by providing a comprehensive range of funeral assurance, services products and risk manage-

the pain of loss. However, a little forward planning with Nyaradzo can help ease the financial burden and pain. We do not claim to take away the pain, but we promise to stand by you in your hour of need. For over a decade, we have helped families cope with the loss of loved ones. We know that death always comes unexpectedly and when it does happen we hold your hand, walk with and help you stand on your feet again. This is why we are called SahwiraMukuru. Funeral Assurance policies are the best tool to manage the financial burden of a funeral. We have the Executive, Classic and Budget plans under the individual range, all designed to allow you to choose a package of benefits to suit your needs and pocket size. All of them will cover the spouse and children under twenty three years of age are covered free of charge.

Individual Policies

The passing on of a loved one is a sad and traumatic experience. For most people the cost of a coffin or casket, transport, food and others can be overwhelming and burdensome, let alone


This has brought relief to the DELL market in Zimbabwe where service and supply have not been up to standard leaving DELL clients with little or no competitive options. The DELL Direct Partner status which Frolgate achieved in 2012 means the company has skills in proposing, implementing and supporting all DELL technologies across all market segments in Zimbabwe. The certification brings serious relief to DELL clients in Zimbabwe as it comes with entitlement to price discounts from the vendor, which the company then passes to end users in Zimbabwe. Frolgate Technolo-

Our innovative solutions have seen clients moving away from spending their IT budget on keeping lights on. Instead, we have helped our clients spend more on technology innovation. Our vision from inception 10 years ago has been to transform lives and unify the business space. We provide enterprise infrastructure and business offerings that span from handheld devices to some of the world’s most powerful, virtualized and consolidated Server installations. We offer customers a wide range of products and services from digital photography to digital entertainment and from computing to printing.

gy’s certified Engineers and Sales team will also offer free proposals and technical leadership to clients and prospective clients in the region with the help of the vendor. In the past and present, Frolgate Technology has been known for over 10 years as a leading supplier of HP Products and Solutions, a CISCO Technology Partner in Net-

This comprehensive portfolio helps us match the right products, services and solutions to our customers’ specific computing needs. The CEO of Frolgate technology Mr Tongesai Chingwena said he attributes this to doing business differently and in a better way, working as a team, always exceeding customer expectations, always communicating with

works and network Security, Unified Communications and Software. We are the onlyNETAPP Gold partner in Zimbabwe offering our clients a truly Unified Storage Architecture, there by allowing them to offer IT as a Service to their constituencies. With Frolgate Technology, NETAPP, CISCO, ORACLE and VMware, the path to Cloud Computing has never been that simple and straight.

our customers and with each other directly, concisely and effectively as the basis for the company’s success to date. “We are always friendly, courteous and respectful to our business partners and everyone we deal with. We are fair and honest in our operations and we will always be dynamic, innovative and creative”, said Mr Chingwena DELL: we DIGG IT


Frolgate Technology-Leading Dell Certified Partner In Zimbabwe One of Zimbabwe’s top Information Communication Technology integrators has invaded the DELL market.



Tendo Electronics supporting banking infrastructure and power backup solutions One of the most significant trends in the banking industry is the move towards electronic and internet banking. In addition for Banks to offer the highest level of service they increasingly rely on very high performance software banking applications, ICT infrastructure, networking and Data centres. These systems need to have guaranteed availability and uptime 24 hours a day 365 days a year. Even in the face of unreliable utility power or if unexpected faults occur, these financial institutions need to be guaranteed that service providers will respond within set times and be able to resolve any issue so that service may be restored swiftly with minimal downtime. Since customers access Banking services and products using various mediums such as mobile phones, PC’s, smart phones and the physical branch networks then it is essential that each channel of service delivery is available on demand regardless of customer location or time. In order to guarantee the highest level of service, one local company Tendo Electronics and Power Engineering provides integrated solutions for service and turnkey solutions for network critical physical infrastructure, renewable energy, energy efficiency, back up power and facilities management. Tendo Electronics designs installs and maintains Data Centres, UPS, generators, Electrical infrastructure, inverters, hybrid solar solutions, CCTV , Access control, fire suppression and air conditioning systems. Given the interdependence of these systems the most efficient solution is one service provider that can service all the above systems, especially for those institutions that have a wide branch network Given the increasingly longer duration and

higher frequency of power outages, it has become necessary for customers to reassess their UPS and generator backup support strategy. The extent to which a branch remains up during extended power outages to a large extent depends on the business requirements from the client and on customer expectations. The best solution should provide a balance between what is good for the business and the need to meet customer expectations. For a branch that offers ATM services in an area that experiences high ATM traffic even throughout the night it may be necessary to ensure that at least the ATM and the branch server remain up throughout all power outages. However for some branches it may not be practical or even economical to keep the branch running during power cuts that occur after hours. Business Critical Branches: For business critical branches which are required to operate 24/7 (24 hours for all seven days of the week). The customer has the option to let the generator run continuously and thus keep the UPS, IT equipment and lights on. In this case huge savings in fuel consumption may be achieved by switching off as much as possible all unnecessary lights and PC’s. For example a 16.5KVA generator operating at less than 50% capacity uses less than 2 litres per hour of diesel. For new branches at the design stage it becomes even more critical that institutions place energy conservation as the highest priority when new designs are implemented. Gone are the days when customers demanded that everything be placed on generator power. For example a branch with 20 PC users requires less than 15KVA of generator power to keep all PC’s, servers, ATM, essential lighting and limited air conditioning running in

order to provide full services to customers. Where fuel consumption still is an issue even when providing 24/7 operation, extra savings may be achieved by allowing the UPS (or where applicable an inverter charger) to use its internal batteries to run the ATM, selected security lights and server through most power cuts and then sending a signal to start the generator when the internal batteries approach discharge. In this case the trade off may be the cost of extra battery changes as opposed to the cost of diesel. For example if the run hours in a year are 500hrs which would cost less than US$1000, this has to be compared with the cost of battery replacement which may be required annually. Non Business Critical Branches: For such branches it may be more economical to operate the generator in manual mode without seriously compromising customer service levels. In this case it is important that the customer makes adequate arrangements to ensure that the server and UPS are properly shut down after close of business each day even if utility power may be available when they close. This prevents the UPS from completely running down the batteries in case power fails later on in the night and also prevents the server from improper shutdown. All these may require increased service calls to the branch. Unfortunately it is difficult to predict when utility power will fail so this option may end up inconveniencing customers by keeping the ATM off even when utility power is available. The other draw back may be that branch personnel are given extra responsibilities regarding UPS and generator shutdown and restart. In particular some of the older UPS may not be user friendly enough to assure effective shutdown and restart by branch personnel.

Advanced Power Management Solutions: utilising UPS and other remote monitoring software to alert and keep users updated on all power events will enhance all the options mentioned above. For example even if all the branch equipment is left on and power fails resulting in the generator starting an SMS message may be sent to the appropriate custodian who then makes the decision whether to leave the generator running or arrange for shutdown based on availability of fuel and other business related factors. In addition the current power challenges facing Zimbabwe make a Service Level Agreement (SLA) an absolute necessity. Only by engaging dedicated professionals whose core business is high availability power solutions, can customers be guaranteed of getting the best out of their business critical network, IT and electrical power infrastructure. Even where customers may employ in-house technicians or engineers to take care of some of the power challenges, experience has shown that the best results are achieved when these internal resources team up with the best service providers, especially where the business network is nationwide. Energy saving shall continue to be a major priority whether utility power (ZESA) is available or not. Therefore users need to develop and implement procedures to ensure that all unnecessary equipment is always turned off at all times. For example when closing all lights except security lights and all air conditioners except those feeding the IT network should be turned off. Tendo Electronics help desk may be contacted on



Zimbabwe through provision of unique innovative ICT solutions. Africom’s network destination code is 08644. With Africom voice services you can enjoy unique services like: Infinite voice at $10 per months on any africom network • 6cents to Africom numbers • 12cents across networks (Econet, Telecel, Netone, Telone) • Cheapest international calls and per second billing applies. • Talk, surf or do both with the wide range of CDMA enabled devices available at Africom. • Voice service is available on both fixed and mobile voice services. • Affordable fixed and mobile handsets available on credit facilities. • You can roam with your Africom services. Africom introduced a unique voice application which allows customers to roam with their number anywhere in the world and still enjoy the cheapest voice services at local rates. Africom have covered most major highway towns and cities across the country with its services which means customers can enjoy the most affordable services from a trusted service provider Africom. “You will see that when it comes to major highways, most towns and cities you are assured to our services. For example, if you are travelling to Bulawayo you can’t miss a town without Africom’s voice service” said Prosper Mutswiri. Africom’s services are available through all Africom dealers and partners: Africom shops, OK Zimbabwe, Zimpost outlets, Easi, MDS 2 and Airtime outlets, But why would you want to move to Africom. - For only $10 per month you get unlimited calls per month - You can make calls, surf on internet or do both on africom network with the wide range of devices available. From as little as $.50c. - Cost saving half your normal bill - Get rewarded for receiving calls from other networks - Coverage is internet driven as such local and beyond 100% coverage internet - You do not need expensive roaming service, remain on a local voice charge as you travel. - You can have all your relatives and family calling each other on a fixed monthly rate. • Plus a 24 hour 365 dedicated national call centre 08644 400. “Making a smart move is as easy as walking into any Africom shop, selected Zimpost and OK outlets and get your phone plus SIM card today. Here is an opportunity to refresh your phone! it’s hard to ague with the facts and the fact is –its time to make a smart move to africom network”. said Mr Mutswiri.

Africom voice the cheapest on the market Africom is a leading converged communication service provider. A licensed telecommunications operator Africom is the first company in Zimbabwe to challenge all convention by offering converged communication solutions. With all other telecommunications operators offering traditional products, Africom is the first company to integrate data, voice and video over broadband as well mobility into a single solution.

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I have always wondered why the most affordable voice calling platform in Zimbabwe by Africom which is actually the cheapest mobile phone service, is not that popular or at least reflect the same market position. Africom for years has been the cheapest mobile solution to make phone calls on, at only 6 cents per minute, or $10 per month for unlimited calls within their network, a priviledge currently enjoyed by a few Zimbabwean subscribers. After probably years strategic planning, Africom has finally promised to roll out a new nationwide plan which is likely going to consolidate their market position as a real force to reckon with as they unleash a much more vigorous marketing plan around all towns and cities in Zimbabwe. Africom has called this next phase “National Light Up” where they will unveil both their high end and low end smartphone handsets with HTC brands leading the campaign to support their network across all towns and cities in Zimbabwe which they already have network coverage yet most subscribers are not aware of. These new smartphone devices can deliver both voice and data services at the same time and are going to be pushed to the market on fairly attractive terms. Although they took long time to complete their interconnection with all the mobile phone operators, this time around they bring so much excitement to the subscribers as they have completed the puzzle by interconnecting all networks in Zimbabwe. “We know that customers are looking for affordable services and convenience and this we have just done”. We also have services available on credit terms and customers can approach any of our outlets countrywide and access this service’ said Africom Marketing Manager Prosper Mutswiri. As the first company in Zimbabwe to challenge convention by offering a converged communication solution, they have set themselves apart from traditional operators mainly taking advantaged of their affordable CDMA platform to offer internet based calls to General System Mobiles (GSM) networks ie Telecel, Econet and Netone. Africom were the first company to integrate data, voice and video over broadband as well as mobility into a single unified solution with the sole aim of connecting customers to success. Since its inception in 1995, Africom has made great strides and earned many achievements in the ICT and telecommunications industry. Growing from a premise wiring enterprise into a fully fledged converged communications provider that it is today, Africom continues to redefine communications in

A Toast To Success Africom would like to congratulate Standard Chartered Bank for consistently winning the Best Bank in Zimbabwe for the second time in the Banks and Banking Survey 2013.

We wish you success in your exceptional banking services. HEAD OFFICE: Block 3, Tendeseka Office Park, Samora Machel Avenue, Eastlea, Harare | Call Centre: 08644 400 08644 000 096 | Toll Free No. 400 (Using Africom number) | Free URL: https: //



Zimbabwe independent banks and banking 2013 supplement  
Zimbabwe independent banks and banking 2013 supplement