WRITTEN BY JACK SLATER

ZB Financial Holdings Limited need little introduction as they have seen a great deal of changes take place in Zimbabwe, have overcome political, economic and cultural tides and have become one of the beacons of the country’s development. We spoke with CEO Ronald Mutandagayi regarding the company’s activities to shed some light on their success.

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Global Shopfitters ZimbabweFor the Perfect Fit Ronald Mutandagayi, a charter accountant by profession, was

appointed Group Chief Executive of ZBFH with effect from

1 June 2013 and previously held the position of Managing

Director of ZB Bank. He has been with the company through a

number of changes, having joined the Group when it was known as

Finhold Group as the Head of Finance and Risk in February 2004,

and accepting the position of Managing Director of ZB Bank in

September 2009.

“Over the years ZBFH has maintained a steady growth through

acquisitions of related companies as well as expansion of existing

services,” he continues, “In 1972, the company changed its name

from The Netherlands Bank of Rhodesia Limited to Rhodesia Banking

Corporation Limited and then to Rhobank in 1979.”

1979, marked an important moment for the company as they

acquired interest in the local insurance firm of brokers, Willis Corroon,

now known as Alexander Forbes Zimbabwe and also the entire

shareholding of Syfrets Trust and Executor Limited. Two years later,

1981, the Government of Zimbabwe acquired 61% shareholding and

the company changed its name to Zimbabwe Banking Corporation

Limited (Zimbank).

“In 1989 Zimbabwe Financial Holdings Limited (FINHOLD) was

formed to bring all subsidiaries and associate companies under one

Holding company which also paved the way for the Group to explore

ZB FINANCIAL HOLDINGS LIMITED

“The history of ZBFH begins in 1951 when the Netherlands Bank of South Africa opened a branch in Harare, known at the time as Salisbury. A second branch was opened in Bulawayo in the same year and by 1967 nine branches were operating countrywide,” Ron opens up, “In August 1967 it was sold to Netherlands Bank of Rhodesia Limited, as ZB Bank was then known and obtained a listing on the Rhodesia Stock Exchange. It was the first locally quoted commercial bank and also the first to provide the local public with the opportunity to participate in its ownership.”

other profitable business activities previously not possible due to

restrictions on investments activities placed on the bank in terms of

the Banking Act,” Ronald tells us, “In 2006 Finhold rebranded to ZB

Financial Holdings Limited and in 2007 the group acquired majority

shareholding in Intermarket Holding Limited, a financial services

group that was involved in the provision of mortgage lending, banking,

life assurance and re-insurance services,”

He continues, “In the same year ZBFH acquired a shareholding in

Cell Insurance Company, a short term insurance service provider.”

In 2008 the company formed ZB Securities, a stock broking

company that is active on the stock Exchange and The Group has

therefore acquired a number of subsidiaries which have allowed it

to offer a diverse range of financial solutions. ZBFH has no physical

presence in foreign markets; however, through its subsidiaries it

participates in the regional and international markets.

The People Of ZBFH“The Group’s staff complement is 1600,” Ron tells us, “And we have

invested in a Group Training Centre in an ongoing effort to improve

staff skills and knowledge.”

Besides internally the Group Training Centre also facilitates

external training and developmental programs carried out regionally,

locally and internationally for selected members.

“Staff development and training is vital in our company as it

motivates individuals, increases knowledge, and fosters brand

engagement required in enhancing loyalty,” he continues, “This

ultimately leads to the delivery of exceptional customer service

required for customer retention, acquisition and business growth.”

What Does ZBFH Offer Clients?ZBFH provide one of the most diverse ranges of financial services

including all of the primary mainstays like banking, insurance,

reinsurance, asset management, securities, transfer secretarial

services and custodial services. It also boasts one of the widest

branch networks in the country with the commercial bank operating

50 branches and a strong presence in the informal markets.

“We engage our customers through customer surveys and we

take the results seriously to implement findings,” Ron tells us, clearly

very animated in this particular area, “We also have a Customer

Service Charter and the ZB Way of doing things that ensure that we

strive to always be customer centric.”

It is very important for ZBFH that they gain repeat business from

the same customers who will in turn act as ambassadors for new

business, Ronald tells us while explain the importance of activities

occurring post sales.

“After sales service also ensures that we listen to our customers

for what they want and in doing so we are able to modify, innovate

and adapt products and services that are relevant and value adding,”

he adds, “We know that a satisfied customer experience enhances our

brand, builds brand loyalty and brand equity and ultimately results in

business growth and profit. Therefore customer tracking is critical.”

Quality and the highest level of satisfaction is the best way to

stay ahead of the competition, and ZBFH’s strategy is to give their

customers just that, an exceptional service and a value that exceeds

expectations. “As they share with others their experiences we have

an upper hand because service is a key pillar that can differentiate us

from the rest of the market players,” Ron says.

To The FutureThe current focus is on riding on technology driven innovation

for growth. The market now wants convenience and this is available

through the different technological platforms and there is a major

drive to invest in that new

technology.

“We offer mobile banking,

internet banking and continue

to explore other products and

services in line with technological

advancements,” he assures

us, “Focus is also in providing

affordable products and services

and technology will allow us to

do so.”

ZBFH has and continues to

invest in the best human and

technical resources to ensure

that they deliver and keep up with

the trends. This is why they have

an established Group training

Centre and a fully-fledged team

of IT experts.

This will give customers

an easy and fast way of doing

business with ZB Financial

Holdings. As a group technology

reduces turn around on certain

processes and enhances

customer service and efficiency

within the system.

“It will also ensure that ZBFH

plays in the Global arena as well

and we will be able to reach and

offer online and efficient services

to anyone and particularly the

Zimbabweans all over the world

who want to invest back home,”

Ron wraps up.

ZB FINANCIAL HOLDINGS LIMITED

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