Zimbabwean Telecom Tycoon Millionaire Norman Moyo selected in top 40 global executives under the age of 40 in the telecom industry

Zimbabwean born and bred Norman Moyo, who is currently the chief commercial officer of Zantel, Tanzania, was presented with a prestigious award for making it into the top 40 global executives under the age of 40 in the telecom industry.

The award ceremony was held a fortnight ago in London.

The list of award winners was prepared by the leading online and print magazine for the telecom industry Global Telecoms Business, and was compiled by GTS in conjunction with the GSM Association.

The award ceremony was graced by Franco Bernabe, Italia Telecom Chairman and CEO, who personally presented all 40 executives Under-40 with their awards.

“I joined the telecoms industry in the early stages of the mobile industry wave. I feel proud to be part of an industry that has completely revolutionised the continent socially, economically, politically or otherwise,” said Moyo.

“The award was a great honour and I dedicate it to all the people I worked with in Zimbabwe, Zambia, Nigeria and Tanzania. In particular I dedicate this to the ‘Celtel’ people who were and will remain a great and proud part of African telecom history.

“The challenges I faced working in different African markets have helped strengthen my conviction and belief that the next biggest ‘dot com’ is in Africa.

“We are a continent dogged with a lot of misguided and sometimes self inflicted perceptions, but if you scratch one layer down, there is a distinct richness and wealth of entrepreneurial spirit that makes us a great continent to do business with. I was proud to be part of these historic moments of transformation in the continent.”

Candidate selections were made by readers who chose high-performing individuals born on or after July 1 1971.

The selected names were further assessed by an executive panel, including 2009 and 2010 winners some of whom were no longer eligible due to age or had left the industry.

Moyo, a strategic visionary with great understanding of the African market, worked for Econet Wireless Zimbabwe and Cresta Hospitality before moving to Zambia as commercial director for Celtel.

He then moved to Nigeria, as chief marketing officer for Celtel, where he was credited with successfully developing and implementing a breakthrough segmented strategy aimed at young people and the rural population.

Through his leadership the business grew from a customer base of five million to 17 million in 36 months.

In addition he developed a sustainable rural model that overcame the challenging conditions in Nigeria (poor infrastructure, theft, no electricity) as well as provided support to the local community.

In the same region, Tanzania, he worked for Zain (Bahrain) before joining Zantel. Norman masterminded the reinvention and strategic positioning of Zantel as the leading data service provider.

Zimbabwe's US$100 Million Shopping Center in Luxury Borrowdale Harare

Acting President Joice Mujuru yesterday commissioned the construction of a multi-million dollar shopping complex, the Mall of Zimbabwe Millennium Park, in Borrowdale.
The project which is worth US$100 million is a partnership between the City of Harare and three investors - Augur Investments, McCormick Property Development and West Group.

Speaking at the groundbreaking ceremony, VP Mujuru said the shopping mall would decongest the city centre.
She urged foreign investors to grab opportunities presented by Government.
"If contemporary planning and designs are strategically executed, this may proffer a solution to the challenges pertaining to the interaction and interconnection between and among people in their places of residence, workplace, shopping areas, places of relaxation and worship and above all how they access this range of service in a convenient manner."

VP Mujuru said the project was important as it would create more than 1 000 jobs during construction and more as businesses start operations at the mall.
McCormick Property Development managing director Mr Jason McCormick described Zimbabwe as a safe investment destination.

"I have to admit that when we first arrived in Harare last year for the first time in a decade, we were highly skeptical of whether Zimbabwe was ready for a development of the nature that we as a company were looking to develop. I have to admit that we were absolutely dumbstruck with what we found within a kilometre of the airport."

He said the bad image presented by the Western media had painted a bad picture of Zimbabwe.
Augur Investments representative Mr Ken Sharpe said their operations would conform to the country's indigenisation laws.
"Yes, we have indigenisation and it is not land grab. The problem is that we have a media that was putting things out of context. We will comply with the Zimbabwe (laws) as enshrined in the country's Constitution but as we speak the shareholding is 50-50 between Augur Investments and McCormick Property Development," he said.

Several Cabinet ministers, senior Government officials and Harare council officials witnessed the event. The construction of the mall is expected to start in six months time and be completed within 16 months.

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South African Pick 'N Pay to Inject U.S.$21 Million Into TM Supermarkets

PICK 'n Pay can now inject US$21 million to recapitalise TM Supermarkets after Government approved the South African retailer's proposal to raise its stake in TM Supermarkets from 25 percent to about 49 percent.

Former chief executive Mr Brendan Beaumont early this year said the retail chain required US$10 million for capital projects and US$11 million for working capital.

After injecting fresh capital in TM, the SA retailer will announce its increased presence by rebranding selected TM outlets as Pick 'n Pay.

Since dollarisation, the local retail giant has struggled to stock adequately while its refrigeration equipment required replacement or rehabilitation.

Despite managing to maintain a significant portion of the retail market, TM Supermarkets has faced stiff competition from other players.

But all this could be ended after the Ministry of Youth Development, Indigenisation and Empowered approved its proposal to up its stake.

Indigenisation Minister Saviour Kasukuwere confirmed the Meikles-Pick 'n Pay transaction last Friday, adding that fresh capital injection into TM Supermarkets would bring healthy competition.

"They wanted to increase their investment in TM to 49 percent," said the minister. "They had about 25 percent and further investment will get them to 49 percent or thereabouts. They will inject capital for rehabilitation of equipment and working capital, which will lead to enhanced supply."

He said the ultimate winner would be the consumer, as they "will be able to get better service and prices from the retailer".

TM had been desperate to recapitalise after suffering a 2,4 percent shrinkage in 2009 due to serious capital and working capital constraints.

Mr Beaumont had said TM had "point-of-sale technology in only six of its 53 branches and this is a key issue in shrinkage and management of selling prices".

This had resulted in the retail giant losing its pace among the country's leading retailers with the former CEO putting it at number three after OK and Spar.

For well-recapitalised and managed retail businesses Zimbabwe offers good returns, as shown by increased interest in the sector by SA retailers.

At one point South Africa's biggest retail chain showed interest in acquiring a stake in OK Zimbabwe, but for unexplained reasons pulled out.

Zimbabwe makes for a good retail investment, considering incomes are still low as the economy is yet to recover from a decade of instability. Disposable incomes have largely remained low since February 2009.


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Zimbabwe: Musicians Giving Back to Community

Richmore Tera20 October 2011
SULUMAN Chimbetu has confirmed that he will perform at Chitungwiza Central Hospital Benefit Concert to be held in the town on Friday night.

Initial indications had revealed that Sulu might not be able to make it for the fund-raising gala after it emerged that his tight schedule was not allowing him time to perform at the mammoth event.

But it has since been established that the "Dzamutsana" hit-maker will be one of the headliners at the mammoth musical gala whose aim is to raise funds for Chitungwiza Central Hospital.

What this means is that "Mwana Wedangwe" will be joining the list of performers including Alick Macheso, Madzibaba Nicholas Zakaria, Hosiah Chipanga, Baba Mechanic Manyeruke, Mahendere Brothers, Takesure Muronzi and Munyaradzi "Mupositori" Muchetu.

Sulu said he was proud to be part fund-raising gala.

"I am actually happy because this would be my first time to perform at the benefit concert.

"As you know this is the hospital that has been extending a helping hand to people not only from in and outside Chitungwiza but also artistes as well.

"This is one way for musicians to give back to the community that made them into the household names that they are today," Sulu said.

Another musician who will be making his maiden performance at the gig, gospel Amos Mahendere backed by the evergreen Mahendere Brothers outfit said he was glad to perform at the event.

The group - made up of brothers Akim, Amos Misheck and Michael - is one of the most active and prominent ones ever to emerge from the town that has also spawned some, if not most, of Zimbabwe's household artistes like Macheso and Madzibaba Zakaria, among others.

"I felt that we (Mahendere Brothers) should this year join our colleagues in fund-raising for the institution and we promise nothing but fireworks," Amos said.

The late sungura musician, Cephas Mashakada's band, The Sounds of the Muddy Face, is also expected to play at the bash with Shemu "Chibage" Mashonganyika, who also doubles up as a dancer, expected to lead on vocals.

But as has become the norm, music giants Macheso, Madzibaba Zakaria and Baba Mechanic Manyeruke who are part of the pioneers of the gig are billed to make the event a memorable one with their top drawer acts.

"We are also going to use the gala as a way of paying tribute Mashakada who contributed a lot in raising funds for this hospital.

His death was a great loss to the people of Chitungwiza and the nation at large because they rely on this hospital for treatment," Audrey Tasaranarwo, the public relations officer of the hospital, said.

Dr Obadiah Moyo, the chief executive officer of the hospital, said funds to be raised from the concert would go towards the refurbishment of the private wards at the institution.

"The money is going to be used to refurbish the private wards and this is one of the major projects that we are going to be focusing on this year," he said.

Started in 2006, the benefit concert seeks to raise funds to improve the service delivery of the hospital.

In the past years, money which was raised from the event was used in improving the hospital's infrastructure, patients' diet, construction of maternity wards and the purchase of drugs, among others.

Copyright © 2011 The Herald. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com).