...No: Valid passport CN583368 (Zimbabwean) with a valid SA work permit. Waiting for issuance of permanent residence permit. Driver’s licence: Valid driver’s licence SUMMARY OF EXPERIENCE A competent Business/Technical Consultant with vast technical and business knowledge in Temenos Banking product (T24), extensive experience in the full life cycle of the software design process (SDLC), customized developments for T24 including requirements definition, design, Interface Implementation, testing and maintenance. Agile, good analytical skills, quick to learn and a hard working team player. bUSINESS AREAS OF COMPETENCE * Business requirement analysis and documentation * Data migration * Interface development * Functional Specifications Analysis * Jbase programming * ICT Strategy Planning and Management * User Acceptance testing * Disaster Recovery Management * Project management EDUCATIONAL QUALIFICATIONS * MBA * HND Computer Studies * Diploma in Computer Studies * Cambridge - GCE Advanced Level (Certificate) at Harare High School, Harare, Zimbabwe. 1992 * Cambridge - 8 Ordinary Level pass, Harare High School, Harare, Zimbabwe. 1990 CURRENT EMPLOYER 45 Degrees consulting (South Africa) - PERIOD April 2009 – TODATE PERIOD | ROLE | PROJECT | RESPONSIBILITIES | | | | 1. | Sept 2012 | Credit Consultant | samba, saudi arabia | 2. Setup of corporate limits 3. Allocation of limits 4. Setup...
Words: 1373 - Pages: 6
...encouragement during the research project. Special mention also goes to Michael my fellow student for his support. ABSTRACT The issue of bank capitalisation as it relates to profitability and the overall soundness of the financial services sector has generated a lot of debate in industry and commerce, academics and scholars propounding several pieces of literature to put to the fore their heads of arguments and possible influence the thinking of policy makers, monetary authorities in particular. The pronouncements by RBZ that banks have to have threshold of one hundred million dollars ($100,000,000) as capitalisation did not help the situation either, instead it created anxiety in the banking fraternity with other banks falling by the way side (Time bank, Royal bank and recently Metbank.) and others desperately looking for new credit lines and avenues for mergers in order to comply with the RBZ capitalisation requirements. It is upon this background that the research seeks to establish whether there exist a relationship between bank capitalisation and profitability. However, in an endeavor to provide answers to the research question,...
Words: 14030 - Pages: 57
...2015 Business Business Editor WITH the Zimbabwe Agenda for Sustainable Socio-Economic Transformation (Zim-Asset) now due for mid-term review, keen interest surrounds its implementation and possible outcomes. Anchored on four strategic clusters — value addition and beneficiation, infrastructure and utilities, food security and nutrition, social services and poverty eradication — the five-year development policy is premised on leveraging the country’s natural resources to achieve economic growth through empowerment of ordinary Zimbabweans. An average of 7,3 percent growth target and creation of about two million jobs is to be achieved within the period. Zimbabweans are pinning their hopes on the anticipated turn around, seeking answers on progress made so far. Finance and Economic Development Minister Patrick Chinamasa shares some of the achievements made towards meeting the ideals of the national blue-print. While insisting the economy is on the right path towards recovery, he also captures highlights on progress from mega deals signed between Zimbabwe, China and Russia recently. “As you may all be aware, the Zim-Asset framework covers a number of issues across well defined clusters. We need reliable infrastructure and a strong production base in order to achieve sustainable development,” he told Parliament last week. “Further, confidence in the financial services sector is central to the achievement of Zim-Asset goals. The financial system plays an important intermediary...
Words: 1914 - Pages: 8
...Assignment 1. The Case Study 01 article described Zimbabwe as experiencing “galloping hyperinflation “. According to your textbook, what is the definition of hyperinflation? |No |Author |Textbook |Definition | | | | | | |1. |Mishkin, Frederic S. |The Economics Of Money, Banking & Financial|Whenever a country’s inflation rate is extremely high | | | |Markets, ninth edition - Pearson |for a sustained period of time, its rate of money supply| | | | |growth is also extremely high. Indeed, this is exactly | | | | |which show that the countries with the highest inflation| | | | |rates have also had the highest rats of money growth. | | | | | | |2. |Ben S Bernanke |Inflation Targeting: Lessons from the |That high inflation is detrimental to the economy...
Words: 665 - Pages: 3
...Chapter 5 Exchange Rate Systems questions 1. How can you quantify currency risk in a floating exchange rate system? Answer: To characterize the risk of a currency position, you must try to characterize the conditional distribution of the future exchange rate changes. With floating exchange rates, historical information provides useful information about this distribution. For example, you can use data to measure the average historical dispersion (standard deviation or volatility) of the distribution. The higher this volatility, the riskier are positions in this currency. It is also possible to rely on more forward-looking information using the options markets (see Chapter 20). Finally, we should point out that volatility is an adequate indicator of risk when exchange rate changes are approximately normally distributed. In reality, the distribution of exchange rate changes displays fat tails, even in floating exchange rate systems, and this increases the risk of currency positions. 2. Why might it be hard to quantify currency risk in a target zone system or a pegged exchange rate system? Answer: If the peg or target zone holds for a long time, historical volatility appears to be zero or very limited, but this may not accurately reflect underlying tensions that may ultimately result in a devaluation or revaluation of the currency. Hence, the true currency risk does not show up in day-to-day fluctuations of the exchange rate. It is hard to quantify this...
Words: 3857 - Pages: 16
...Question: Peter Drucker observes, the purpose of the business is to create a customer. Leveraging on your understanding of the concepts of market, marketing orientation and customer orientation critically examine the applicability of the Drucker’s observation to a financial service firm. [25] According to Drucker, there is only one valid purpose for a business, and that is to create a customer. This is because as Drucker wrote, “The customer is the foundation of a business and keeps it in existence. He alone gives employment. To supply the wants and needs of a consumer, society entrusts wealth-producing resources to the business enterprise. Creating a customer has two main functions that is marketing and innovation. Drucker Peter (1964, P94) makes the importance of the customers and marketing and customer orientation concept clear when he said that “it is the customer who determines what a business is. The nature of services such as intangibility, perishability, inconsistent and heterogeneous forces a financial firm to focus on marketing and innovation in order to retain and attract customers. Due to ever changing needs and wants of customers financial firm is forced to engage in market orientation strategies to retain and attract customer through the following strategies such as building customer trust, bond creation, shared value and management of quality services. Managing the quality of the service Involves delivering consistently higher quality that meets customer...
Words: 1937 - Pages: 8
...1.0 INTRODUCTION Rural areas of Zimbabwe continue to be sparsely covered and are not considered as a viable business case by mobile telecommunication operators. Recent growth of tele density in urban areas, fueled by mobile technology, has meant that the digital gap between rural and urban areas has widened. Rural populations will need to be provided with mobile telephony and wireless broadband access, by connecting remote areas to the broadband core networks. Choosing efficient, cost-effective and fast-deployment technologies – whether wired or wireless networks – will improve accessibility. The key challenges for the provision of telecommunication services in rural areas are driven by both technological and economic considerations. Setting up backhaul connectivity remains a high-cost exercise. Erratic power supply or complete lack of energy sources is a major barrier, and photovoltaic power supply is increasingly becoming a viable alternative. The requirement to maintain sufficient backup systems raises operational costs substantially. In the 1990s, the term digital divide was introduced as a way to describe the gap between those who have access to computers and the internet and those who do not. Mobile technology is now being sold as the bridge across the digital divide. The last decade has seen advances in digital electronics devices such as computers smaller, cheaper and faster. These significant changes have promoted the rapid development and market growth of small computers...
Words: 1617 - Pages: 7
...Chapter 1 1.1 HISTORICAL DEVELOPMENT Peoples Own savings bank of Zimbabwe (POSB) is a statutory, national savings bank, wholly owned by the government of Zimbabwe. The People’s Own Savings Bank was established on the 1st of January 1905 and has a proud history of achievement and service provision to every Zimbabwean. The former Post and Telecommunications (PTC) unbundled into three separate entities namely; The People’s Own Savings Bank replacing the Post Office Savings Bank, Zimpost replacing the former Post Office and Telone and Net One replacing Telecoms. In 2001, the POSB bank Act (chapter 24:22) was promolgumated, establishing POSB as a corporate entity. This Act widened the scope of the bank to enable it to offer a wide range of financial products. The bank's core mandate is to promote a culture of saving amongst Zimbabweans, especially in the previously unbanked outlying communities. POSB deals with clients from the lower market. POSB is directly supervised by the ministry of finance and Reserve Bank of Zimbabwe. 1.2 THE BUSINESS STATEMENT 1.2.1 Vision To be a world class Savings Bank catering for all. 1.2.2 Mission To be a Savings bank which provides a broad range of quality, accessible and affordable financial services. 1.2.3 Values Innovation Ability to change for the better. KUNDAI KAMANGA Page 1 N0110841B Excellence Exceeding set standards and expectations. Integrity Being trustworthy, dependable and honest in all our...
Words: 11258 - Pages: 46
...Municipal Bond Market Development Edited and with an introduction by: Priscilla Phelps, Senior Finance Advisor, Research Triangle Institute November 1997 Environmental and Urban Programs Support Project Project No. 940-1008 Contract No. PCE-1008-I-00-6005-00 Contract Task Order No. 06 Conducted by Research Triangle Institute Sponsored by the United States Agency for International Development Office of Environment and Urban Programs (G/ENV/UP) COTR Sarah Wines Finance Working Papers Table of Contents Tables . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . v Figures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . v Part I: Municipal Bond Market Development in Developing Countries: The Experience of the U.S. Agency for International Development . . . . . . . . . . 1 Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 The Changing Situation of Local Governments and Their Financing Options . . . . . 4 Defining Municipal Financial Market Development . . . . . . . . . . . . . . . . . . . . . . . . . . 5 Strategic Context for Municipal Bond Market Development at USAID . . . . . . . . . . . 8 Technical Summary of Municipal Bond Projects . . . . . . . . . . . . . . . . . . . . . . . . . . 10 USAID Experience...
Words: 43244 - Pages: 173
...Financial management report Submitted by : vaibhav goel(13117074) Shubham Gupta(13117066) Vipul arora(13117076) Shakti rana(13117064) DEFINITION of 'Inflation' Inflation is the rate at which the general level of prices for goods and services is rising and, consequently, the purchasing power of currency is falling. Central banks attempt to limit inflation, and avoid deflation, in order to keep the economy running smoothly. BREAKING DOWN 'Inflation' As a result of inflation, the purchasing power of a unit of currency falls. For example, if the inflation rate is 2%, then a pack of gum that costs $1 in a given year will cost $1.02 the next year. As goods and services require more money to purchase, the implicit value of that money falls. Monetarism theorizes that inflation is related to the money supply of an economy. For example, following the Spanish conquest of the Aztec and Inca empires, massive amounts of gold and especially silver flowed into the Spanish and other European economies. Since the money supply had rapidly increased, prices spiked and the value of money fell, contributing to economic collapse What Causes Inflation? We can define inflation with relative ease, but the question of what causes inflation is significantly more complex. Although numerous theories exist, arguably the two most influential schools of thought on inflation are those of Keynesian and monetarist economics. ------------------------------------------------- ...
Words: 4390 - Pages: 18
...ZIMBABWE THE 2012 MID-YEAR FISCAL POLICY REVIEW “From Crisis to Austerity: Getting Back to Basics” Presented to the Parliament of Zimbabwe By Hon. T. Biti M.P. Minister of Finance 18 July 2012 1 2 Table of Contents INTRODUCTION .............................................................................. 9 THE 2012 BUDGET OVERVIEW .................................................... 12 STATE OF THE ECONOMY AND PROPOSED INTERVENTIONS . 16 GDP Growth Slowdown ........................................................ 16 The 2012 Mid-Year Fiscal Policy Review Thrust ................... 19 AGRICULTURE .......................................................................... 20 Productivity ........................................................................... 22 SADC Food Situation ............................................................ 25 Tobacco Marketing ............................................................... 26 Cotton Marketing .................................................................. 27 Livestock ............................................................................... 28 Outlook ................................................................................. 29 Financing .............................................................................. 29 Leases and Surveying ........................................................... 31 Access to Inputs ................................................................... 32 Irrigation .....
Words: 20733 - Pages: 83
...SERVICES (MMRK812) [pic] LECTURE NOTES CHAPTER 1: AN OVERVIEW OF THE FINANCIAL SERVICES SECTOR IN ZIMBABWE 1. Introduction Zimbabwe’s financial sector is relatively sophisticated and consists of the Reserve Bank of Zimbabwe (RBZ) at the apex of banking institutions, commercial banks (e.g. CBZ, NMB, FBC, ZB, MBCA, Kingdom, Trust, Stanbic, Barclays, Chanchart), merchant banks, building societies (e.g. CABS, CBZ building society, FBC building Society etc), the People’s Own Savings Bank (POSB), insurance companies (e.g ZIMNAT, NICOZ DIAMOND, Old Mutual, First Mutual, Nyaradzo), pension funds (e.g Allied workers pension fund, NRZ pension fund), asset management companies (Imara and Edwards), developmental financial institutions, the Zimbabwe Stock Exchange (ZSE), microfinance institutions (e.g MicroKing) and money transfer agencies (e.g Western Union, Moneygram, Homelink). Discount and finance houses have closed and their functions taken by commercial and merchant banks. The growth of the financial services sector is largely attributed to the financial liberalization of the early 1990s, through the Economic Structural Adjustment Programme (ESAP). 2. Structure of the banking sector Number of operating banking institutions (including POSB) declined to 25 from 26 following the voluntary surrender of a banking license by Genesis Investment Bank whilst one merchant bank (Renaissance) converted into a commercial bank. |TYPE OF INSTITUTION ...
Words: 14699 - Pages: 59
...data-driven organization. Using the Taylor rule to set its federal funds rate will remove any second guessing. 1. What is the current economic situation and how did we get here? Give your policy recommendation with some detail, including ideas on the timing and details of normalizing policy, including exit tools. The U.S. economy is recovering from the deepest recession since the Great Depression in the 1930s. The financial crisis which started in 2007 was triggered by mismanagement of financial securities involving sub-prime residential mortgages and the bursting of a housing price bubble. The crisis spread globally with substantial deterioration in banks’ and other financial institutions’ balance sheets, a run on the shadow banking system, and the failure of many high-profile...
Words: 1562 - Pages: 7
...The Federal Reserve Term Paper The Federal Reserve After several periods of economic and banking problems, the United States of America was searching for a fix. In December of 1913, the American Congress approved the Federal Reserve, which President Woodrow Wilson signed into law. By 16 November 1914, a working Federal Reserve was set up in 12 cities chosen as regional Reserve Bank sites. These reserve banks were privately owned banks. The Federal Reserve wielded unprecedented power, which was noticed during the beginning of World War I (WW-I) when the Federal Reserve set interest rates for American banks and helped finance Europe’s war efforts until 1917, when the U.S. declared war on Germany and financing America’s war efforts became paramount (Education, 2013). “I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world no longer a government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small dominate men.” Woodrow Wilson (History of the Federal Reserve, 2013). As you can decipher from President Woodrow Wilson’s quote about the Federal Reserve...
Words: 3118 - Pages: 13
...currency) must be willing to supply the world with an extra supply of its currency to fulfill world demand for this 'reserve' currency (foreign exchange reserves) and thus cause a trade deficit. The use of a national currency (i.e. the U.S. dollar) as global reserve currency leads to a tension between national monetary policy and global monetary policy. This is reflected in fundamental imbalances in the balance of payments, specifically the current account: some goals require an overall flow of dollars out of the United States, while others require an overall flow of dollars in to the United States. The Triffin dilemma is usually used to articulate the problems with the U.S. dollar's role as the reserve currency under the Bretton Woods system, or more generally of using any national currency as an international reserve currency. There was a solution to the Triffin dilemma for the U.S.: reduce the number of dollars in circulation by cutting the deficit and raising interest rates to attract dollars back into the country. Some economists believe both these tactics, however, would drag the U.S. economy into recession (!!! NO WAY, OF COURSE). Source: Wiki Suny Lewin Institute – Google Img Cache / Federal Reserve Bank of St. Louis. (2012). HOW TO EARN ON THIS? Seigniorage is the difference...
Words: 2396 - Pages: 10
