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April, 2014

Facts on making money on the internet

POLITICAL

Diaspora key to progress

Chinese Yuan’ growing importance

ZIMBABWE

Marcus Garvey, the African Union

MORE CURRENCIES

won’t revive economy THE addition of several currencies, to those already in use will not do much to alleviate the economic crisis.

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World CEO coaching is throwing on USA Eric Schmidt, authority and CEO of Google, when asked what was a best recommendation he was ever given, has been reported to have replied, “Hire a coach.” He continued to supplement that his evident greeting was not favourable, that happens to be a many common greeting to such suggestion. “The normal separator to seeking coaching has been a faith that if I, that is a CEO, being a consultant in my field, can’t have a answers, how can a relations non-expert, a coach, have them,” explains Pratap Nambiar, CEO coach, and executive of The Leadership Circle, an outfit specialising in providing care growth tools. However, a good thing is, somemore and some-more CEOs are removing over this mental block. They know that a manager is there to yield them with another set of eyes, a uninformed viewpoint on matters, he adds.

Brief News

Cultural Coaching: Knowing When to Shut Up AUSTRALIA Anyone who’s spent time in another enlightenment will be wakeful that a norms and assumptions around conducting meetings are a minefield. But while we can simply accept that in theory, we might have to blow yourself adult to unequivocally get a point. Bo Chen, a Chinese nation consultant aiding me, arrived early. A 36-year-old Paris-based publisher from Wuhan, Chen was articulate, extroverted, and really knowledgeable. His pursuit was to ready dual to 3 petrify business examples to illustrate any informative emanate we would be covering. I began a event by surveying on a flipchart a informative issues that a Bernards indispensable to grasp to make their time in China a success, delicately gripping an eye on Chen.

Strive Masiyiwa

Masiyiwa to deliver Africa’s cashless economy MALAYSIA Zimbabwean telecom tycoon (and the country’s only billionaire) Strive Masiyiwa has been called a “global business influential,” a “face of New Africa,” and the “Bill Gates of Africa.” He continues to live up to the reputation with a new venture that’s as bold as they come. The founder and chairman of Econet Wireless, Zimbabwe’s biggest wireless network operator, wants to turn the company’s mobile wallet technology, known as EcoCash, into Zimbabwe’s primary method of payment. It’s no small task: Masiyiwa essentially wants to replace printed currency with digital money, transforming his native country into Africa’s first paperless economy. Can it be done? It’s not as far-fetched as you might think. Zimbabwe — ruled for decades by the iron-fisted dictator Robert Mugabe and, accordingly, subject to

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economic sanctions from the U.S. and EU — needs an alternative to cash more badly than perhaps any other country in Africa. In the late 2000s, it suffered from such mind-boggling hyperinflation — at its height in 2008, a can of Coca-Cola that cost ZIM$50 billion in the morning would cost ZIM$150 billion at the close of business on the same day — that it abandoned its own currency in 2009 in favor of currency from other, more stable countries. Today, Zimbabwe’s economy relies almost exclusively on the U.S. dollar. But the “dollarization” of its economy has created a new set of problems. The limited number of bills in circulation are old and tatty, and shopkeepers are unable to make change due to a shortage of coins. That means shoppers are forced to accept change in the form of chewing gum.

America Drops Out of the Top 10 Economically Freest Countries USA Are you economically free? If you live in Hong Kong, Singapore, Australia or Switzerland, the answer is yes. If you live in Zimbabwe, Cuba or North Korea, then no. And if you live in the United States, your economic freedom is slipping away—with dire consequences. This, at least, is the warning sounded by Terry Miller, director of the Center for International Trade and Economics at the Heritage Foundation, which has teamed up with The Wall Street Journal to produce the “2014 Index of Economic Freedom.” The Index evaluates the commitment to free enterprise using 10 categories, including fiscal soundness, government size and property rights. “Countries achieving higher levels of economic freedom consistently and measurably outperform others in economic growth, long-term prosperity and social progress,” Miller writes. “Those losing freedom, on the other hand, risk economic stagnation, high unemployment and deteriorating social conditions.” April, 2014


The Chinese Yuan’s Importance Is Growing in Africa CHINA The Chinese Yuan is growing in importance as a global currency, and this trend has been especially apparent since the 2008 financial crisis. Several countries including Japan, Australia, and Brazil have set up bilateral trade agreements that stipulate that more trade between China and these countries will take place in their local currencies (the Yen, the Australian Dollar, and the Real), as well as in the Chinese Yuan. A consequence of this is that the U. S. Dollar will be used less frequently.

Great Tips For Better Business Leadership Solutions AUSTRALIA Strong leadership is an enviable quality. Many are born with it just in them, while other people need to really work hard at it. Leadership comes in many forms and implicates a wide range of talents. If enhancing your leadership skills is what you are looking to do, read on for effective ways to do this. Honesty is a crucial element of great leadership. You cannot be an effective leader if you cannot be trusted. When you work on your leadership skills, try to set a standard of trustworthiness and honesty. Show people that you are there to help and support them.

Caledonia Mining receives payment under new export arrangement AUSTRALIA Blanket received today the full amount for US$3.8 mln worth of gold sold to the smelter on Tuesday, Caledonia said, adding the payment was in US dollars. Caledonia Mining’s (LON:CMCL TSX:CAL) 49% owned Blanket Mine has been paid for the first batch of its gold sold to Fidelity.

Important Facts About Making Money On The Internet

AUSTRALIA It’s easier than ever to earn money online. Indeed, increasing numbers of folks are paying their bills through online income. Whether you want to make a living or just some supplemental income, the Internet is a great way to go. These tips will help you begin. Figure out what you’re good at. Is writing one of your passions? Market your talents as a writer of online content. Are you good at graphic design? Many people may be willing to hire you to design or work on their documents or websites. Introspection can help with this.

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Money & Finance

AfriAsia Zimbabwe profits decline AfriAsia Zimbabwe Holdings posted a profit of $174 862 for the half year ended 31 December 2013.

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his was a 91 percent decline from the prior comparable profit of $1,9 million. The figures in the statement show that the decline was as a result of a decline in the income level from interest and similar incomes. Net interest income declined by 31 percent from last year’s similar period of $9, 4 million to $6,4 million this year. In terms of operating costs, the bank’s strategic cost containment measures were implemented resulting in operating costs decreasing by 16 percent when compared to prior period. However this year the bank is optimistic about its growth based on a private placement that is anticipated to be concluded tomorrow. “The conclusion of the private placement by 28 February 2014 will result in the group underwriting more business in order to achieve better results by the end of the financial year ending 30 June 2014. The bank is expected to operate profitably in the next 6 months after the injection of the new capital from the private placement” said the bank in a statement. The statement also highlighted that the bank will engage in a rebranding exercise and these changes will

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‘Through the major share holder and partner, the bank will be offering seamless offshore and wealth management products and solutions’ – AFRIASIA

introduce new products and solutions for their customers. “Through the major share holder and partner, the bank will be offering seamless offshore and wealth management products

and solutions, while offering an investment and funding gateway to and from Asia and the international markets for its valued customers,” said AfriAsia. - bh24 April, 2014


Magazine Section

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Australia People

Two African Australians to receive 2013 Governor’s Awards

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wo African Australians South Australia’s multicultural opportunity to make a differwere amongst the sector. ence in other people’s lives 11 recipients of The SALT Magazine spoke to the and in my community” said Dr 2013 Governor’s two winners about how it feels Sumbo who was recognised for Multicultural Awards, held on to be recognised for their con- her relentless work in supportTuesday 18 February, 2014 at tribution to SA’s multicultural ing South Australia’s diverse Government House in Adelaide community landscape. communities and her passionSouth Australia. They were “I’m very grateful for the ate advocacy for women’s both recognised for their rights. outstanding contribution to Finda Moyima South Australia’s diverse impressed the judges multicultural society. with her charming initiaDr Sumbo Ndi from tive Smile at a Stranger Nigeria won the Individual Day which encourages the Community Sector Award people of Adelaide to stop and Finda Moyima from for just one moment and Sierra Leone won the smile to help young peoIndividual Youth Award. ple who come to Australia The Governor of South feel welcome. Australia, His Excellency Though it was nerve Rear Admiral Kevin Scarce wracking to go up on stage AC CSC RANR, presentDr Sumbo Ndi, Finda said it is inspiring ed the awards in front of Finda Moyima Government House, to be in the midst of such Adelaide achieving people. “It’s over 300 guests from across with her award

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‘I’m very grateful for the opportunity to make a difference in other people’s lives and in my community. ’ – Dr Sumbo

really great to be amongst them and win” SALT Magazine wishes the winners all the best and hopes that their win will serve as a source of inspiration for others in the community to participate in community building initiatives. April, 2014


Zimbabwe Economy

National Foods reopens

Mutare maize mill National Foods is scheduled to reopen today (Monday) its Mutare maize mill, which has been inactive for the past six years.

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ational Foods chief executive Jeremy Brooke said the company was delighted to be bringing back into service its Mutare mill, which has been under care and maintenance for most of the time since Zimbabwe introduced multi-currency trading in 2009. He said the reopening of the mill would help meet the demand there is for Red Seal roller meal and Red Seal Pearlenta and create employment. The plant in Mutare will complement operations at the Harare and Bulawayo plants to ensure nationwide availability of Red Seal roller meal and Pearlenta. Mr Brooke said the company had secured maize from Mozambique that would be milled in Mutare to help ensure there was adequate roller meal and Pearlenta between now and http://thebusinessstar.com

the harvesting of locally produced maize. He said Zambia had resumed maize sales to Zimbabwe, which would also help ensure there was adequate food prior to the harvest. “We are delighted to get the mills running again in Mutare. We are hopeful that there will be sufficient crop planted in the Mutare area to enable the mill to continue running and never have to close again,” he said. The National Foods chief executive emphasised that it was crucial for every person who could do so to plant maize. “Every available square inch of the country should be used for planting so that we can guarantee our own food security as a nation and the food security of our own people,” he said. “We are grateful to our transporters and particularly the National Railways of Zimbabwe for their help

in moving grain around the country. “I have no doubt we will have sufficient roller meal and Pearlenta to see us through until the next harvest,” he said. He said the company had been continuously retooling, reequipping and rehabilitating its plants and equipment. Emphasising the company’s commitment to helping meet

the nation’s food requirements, Mr Brooke said two of the company’s millers, William Kapfupi and Nqgabutho Moyo, were currently on advanced milling training courses at Buhler in Switzerland. He said Buhler was the world’s leading miller. It was not easy to be accepted for training with Buhler. He said the two millers were due back in Zimbabwe in May.

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Cover Story

Zim loses billions to SA g Zimbabwe is losing billions of dollars worth of gold to South African buyers who are offering local small scale miners high prices for the yellow metal, Parliament heard on Monday.

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fficials from the Zimbabwe Miners Federation (ZMF) and the Zimbabwe Artisanal Small Scale Miners Council (ZASMC) told the Parliamentary Portfolio Committee on Mines and Energy that no amount of harassment and arrests by the police would make them sell their gold through official channels. Gold production by small scale miners has slumped from a peak of 17 tonnes in 2004 to

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about 959 kilogrammes in 2013 although the number of miners continues to grow. The figures suggest the bulk of the yellow metal is finding its way into the black market where prices are lucrative. There are over 30 000 registered small scale miners and an estimated 1,5 million artisanal miners (commonly referred to as Makorokoza) in the country. ZAMSC board member responsible for legal affairs Mr Paul Mangwana told the com-

mittee that the government was not doing anything to assist the miners but came at the end of the production cycle demanding to buy the bullion at low prices. “The reality we must address is to ask Fidelity Printers for competitive prices and all the gold will go to Fidelity,” Mangwana said. “No amount of arrests or policing will cure this issue.” Fidelity Printers is a subsidiary of the Reserve Bank of Zimbabwe which is the only

institution allowed to buy and process gold in the country. Mr Mangwana said miners faced too much red tape, punitive fees from a number of government Ministries and departments due to the uncoordinated approach in which the sector was governed. “There are 22 Acts of Parliament affecting a single miner. You actually need a lawyer to comply,” he said, adding that most miners did not understand the laws which resulted in April, 2014


Cover Story

old buyers them fighting unending battles with law enforcers. Ministries and departments charging miners various fees include those of Water Development and Mines and Mining Development, the Environmental Management Agency, the Parks and Wildlife Management Authority of Zimbabwe and Rural District Councils. ZASMC member Mr Johnson Mudzingwa said given the hurdles which miners faced to raise funding to register, buy equipment and eventually commence operations without government support, it was unfair for the government to direct them to sell the bullion to Fidelity at uncompetitive prices. “It does not make sense for us to sell to Fidelity. We are losing tonnes and tonnes going to South Africa where dealers buy at five percent above the prevailhttp://thebusinessstar.com

ing world prices. Local miners take the risks to go and sell there as a result we are building South African instead of building Zimbabwe,” he said. ZMF president Mr Trynos Nkomo said it was critical that Fidelity Printers opened many gold buying centres closer to where the mineral was mined as travel costs promoted the black market. Mr Nkomo said it was high time the government demystified gold as the secretiveness around its production encouraged leakages. “When gold leaks, it does not leak in grammes, it is externalised in huge quantities,” he said. The miners said the government should partner them in gold production through offering loans or coming up with other schemes which encourage productivity. - New Ziana

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Australia Trade

Leadership Tips Direct From The Pros You want to find out how to be the right type of leader, and this also includes knowing what you shouldn’t do as well.

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eing a leader can be quite challenging at times when you have hard choices that must be made. The advice below will help you turn your leadership skills into something special. Good leaders show honesty and good morals at all times. As a leader, you should be trying to lead people in a good direction. Your team will appreciate your honesty and reward you with respect. You need to remain honest, because that will encourage them to stay honest with others, too.

TIP! A great leader inspires creativity. Creative thinking and the risk taking that it entails can mean great success in the future.

Do everything you can to simplify things in your role as leader. Focus on the important things and let the small stuff slide. Once that’s been accomplished, you’ll be able to set priorities. Make the project as simple as possible. Allow time just to brainstorm, for yourself and for your team. A good leader brings creativity out of their team. Creative thinking along with the right risks put you in good positions. Try branching out and exploring where your curiosity takes you. Believe in new ideas, no matter if it does not seem to fit right at this moment. Use the ideas of those around you to improve your plans. Keep one eye on the future. You need to be able to look ahead, see what is coming, and plan accordingly. While you can’t make predictions, you can build up the skills for it. Always think about where you’d like to be at various intervals in the future and take the steps needed to get there.

team. You could invite a few people to join in during these sessions. You can discuss changes, consider suggestions, and even make friends. TIP! Excellent leaders use honest, self- evalu ation to pinpoint strengths and weaknesses. If you are showing off thinking that you can do more than you really can, you may end up failing quite a bit.

Do what you can to make sure your workers are comfortable with approaching you. Some leaders believe that intimidation and bullying is the best way to establish who’s in charge. It isn’t good, and you won’t have the respect of others. While you don’t want to make the mistake of letting others walk on you, show others you’re there for them and care about their job, too. Provide incentives for a job well done.

Though everyone is already paid for their work, incentives can better the quality of it. If an employee goes above and beyond, show them that you see it and encourage it with some sort of bonus or gift. True leaders don’t pinch pennies with things like this. One thing that can help you to be an effective leader is to start learning how to listen to the people that you lead. They might have some insight or foresight about the project that can help the entire team. When you see that they have processed your ideas, keep an open mind for their input to maximize your potential for success. TIP! Become an effective writer. Leadership is more than just attitude and foresight.

Setting high goals for the team is a good thing as long as you make sure the goals are not unreachable. This will only lead to failure. That’s a good way to show that you aren’t the good leader you thought you were. Do not obsess over winning. With all the technology out there, it is not hard to make everything a game of spreadsheets, stats and goals. These things help to set up goals and measure success. If you take the time to look things over properly, you’ll be less inclined to fail and more inclined to breed success. Use the role you have in a leadership position so you can create a team that’s strong and works well with whatever they’re given. Be open to talk to anyone who has a question or a problem. Your employees should be able to handle their day-to-day positions without too much interference from you.

TIP! Own up to the mistakes you make. Even the best leaders will make mistakes.

TIP! Always make sure you’re communicating with people. It is important to notify your team of any alteration of plans so that they always know where they are headed.

Look for talents that others have. When you look for assistance, it needs to be easy for you to pick who would benefit you most. This also carries over to hiring contractors for individual jobs. Take care of people and productivity will soar. Inspire them and encourage them to be motivated. Instead of monitoring every solitary task, make your most fervent work the motivation of your team. It pays to dedicate a specific amount of time daily to assessing progress of the

Use your role as leader to build a group of loyal people who are strong and can work together well. Always be open to your team members regarding questions and concerns. Your workers ought to be able to work without too much pressure and hand-holding from you. It is important to be able to communicate well with your team. Try to make sure that you give your team the right information they need to do their tasks, especially deadlines.

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April, 2014


Zimbabwe Political

Marcus Garvey, the African Diaspora

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n the year 2014, as we recognize this as the centennial year of the Jamaican, Caribbean born Honorable Marcus Mosiah Garvey’s (born Aug. 17, 1887, died June 10, 1940) founding of the Universal Negro Improvement Association and African Communities League in 1914, Pan Africanists need to hold conferences to discuss the conditions of over 1,200,000,000 Africans and people of African descent. Marcus Garvey in feathered helmut, webWe need to be discussing what leaders are proposing to save our race, and especially the goals of the African Union (AU) to work with the African Diaspora. We need to look at what a Pan Africanist like Marcus Garvey’s thoughts were on the role of Africans at home and abroad in the development and protection of Africa. In learning of United States President Barack Obama’s plans to invite African leaders to a U.S.-Africa economic summit on Aug. 5-6 of 2014, I hope it does not resemble the “scramble for Africa” that kicked off with the Berlin Conference of 1884-1885, where America with 14 other

nations sat down for three months and carved up and parceled out African territory. Obama, an African, has proposed this invitation to the heads of state that seems innocent enough. However, we should consider that big business and the bankers may attempt to weaken the AU and to prevent the AU from becoming a political power that will pursue social justice on the continent of Africa and unity with the African Diaspora. The rich do not want social programs to bring about fair wages for labor and equality in Africa but would be happy to see African citizens and the African Diaspora disappointed in the AU. The corporations could then use the media of the West to talk about corruption among the members in the AU.

‘When the African Diaspora decides to return home, Africa could become uninhabitable.’

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Zimbabwe Industry

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Caledonia Mining in

new marketing arrangement for gold exports

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ew rules introduced by the Zimbabwean Ministry of Finance mean all gold must now be sold to state-controlled Fidelity Printers and Refiners, which is now responsible for the final refining and marketing of all gold produced in Zimbabwe. Accordingly, all of Blanket’s production will be sold to Fidelity with immediate effect, Caledonia said. The sale of gold

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to Fidelity replaces the mine’s previous refining and marketing arrangements. Blanket’s terms of trade will result in the receipt of 98.5% of the value of the gold within a maximum of 7 days of sale to Fidelity. Caledonia added that Blanket today sold gold to Fidelity with a value in excess of US$3.8mln and expects to receive the proceeds on 29 January. April, 2014


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