Executive Management

Zambias premier business magazine

magazine

inside this issue

business minds
Sonny Zulu shares his story, how he made the switch from engineering to banking and so much more.

eyes on the middle

Why the newly empowered middle class wields the power to change or destroy Zambia and Africa.

true leadership
In order to be more effective the majority of managers have to have some leadership skills. How can you improve yours?

Standard Chartered
Edition

Local Business Routes*

DESTINATION FLIGHT
DEPARTURE (D) ARRIVAL (A)

SUN

MON TUE

WED

THU

FRI

SAT

* Estimated Departure and Arrival time for local flights as scheduled by Proflight via KK international

400 CHIPATA 404 KASAMA MANSA 202 308/103

VIA NDOLA

D A D A D A D A D A D A D A D A D A D A D A D A D A D A 11:15 12:00 17:00 17:45 09:00 09:45 11:15 12:00 13:50 15:00 18:00 17:10 08:00 09:10 12:00 13:10 16:10 17:20 08:00 09:10 12:00 13:10 16:10 17:20 11:15 12:00 07:00 09:40 11:15 13:40 07:00 07:45 11:15 12:00 17:00 17:45

07:45 09:35 13:45 15:35 13:45 15:35 07:00 09:40 11:15 13:40 07:00 07:45 11:15 12:00 17:00 17:45 07:00 07:45 11:15 12:00 17:00 17:45 07:00 07:45 11:15 12:00 17:00 17:45

07:45 09:35

300 NDOLA 308 306 310 912 SOLWEZI 916 918 702 LIVINGSTONE 704 708

07:00 07:45 11:15 12:00 17:00 17:45

07:00 07:45 11:15 12:00 17:00 17:45

11:15 12:00

11:15 12:00

11:15 12:00

11:15 12:00

11:15 12:00

18:00 17:10 08:00 09:10 12:00 13:10 16:10 17:20 08:00 09:10 12:00 13:10 16:10 17:20 08:00 09:10 12:00 13:10 16:10 17:20

18:00 17:10 08:00 09:10 12:00 13:10 16:10 17:20 08:00 09:10 12:00 13:10 16:10 17:20

bon voyage
wherever your journey takes you...
2

Executive Management
Zambias premier business magazine

contents

magazine

British Airways is rolling out a new business class configuration on some of its international long haul flights. The revolutionary design and layout has some features that are pretty mind boggling. This has been fitted to specific Airbus A321

18

aircraft, so if you ever find yourself in Club World...

14
We live in an increasingly inter connected world, a global society of communication and interactions that have inspired a number of cultural transformations. The global village, coined in the 1960's, has

10

come to represent...

When spoken about in Western media particularly, Africa has often been presented as a continent ravaged by wars and blessed with vast natural

26

23

resources yet barely able to feed its people and compete with the rest of the world economically...

Customer Service

Standard Chartered

Not just good business its a smart partnership

The customer is the center of everything we do, few things are more important than ensuring customer satisfaction. All customers must be accorded efficient services and treated with equal respect and dignity. A constant commitment to providing exceptional customer service is the first step to improving customer satisfaction.

Here for good

Executive Management
Zambias premium business magazine

magazine

editors note September/October 2013

2013 is swiftly drawing to a close, Standard Chartered Bank was recognised for its efforts in the previous year and no doubt you will all be aiming for more accolades. As we are hurtling towards the end of the year, no doubt all eyes will be on the profit and loss statements in the coming months. I know that we are not alone in monitoring the ever rising costs of commodities, this is making it harder to plan for expenditure and costs. If like us you are still in the red, there is still time to make adjustments to those plans and close the year profitably. This edition touches on the issues of leadership, performance management and quality improvement, both on an individual and at organisational level. I believe these are fundamental to extracting the most value out of any

large or small business venture and your employees as well. A topic that has received a bit of coverage in the local tabloid newspapers is succession planning. Which got me thinking about how that would apply in business as well. Many businesses find it difficult to replace key staff because those that held those posts did not spend enough time grooming those below. In this country I think its more of a cultural issue more than anything and its that aspect that needs addressing. Globalisation and the idea of increasing world trade has its own benefits and pitfalls to navigate. There is talk of a level playing field but the way I see it, one countrys gain is another ones loss. The paradigm of winwin is not possible due to the micro and macro economic differences in each country. In this months feature we dissect

this phenomenon in an attempt to analyse some of the implications, of this complex and highly emotive subject on business. Zambia has a ballooning middle class with the numbers increasing steadily over the last decade. This new middle class wields alot of economic, social and spending

power. But have they neglected their social responsibilities towards those in the classes below? Chipo Muwowo tackles this in a provocative piece. The general public has a love hate relationship with the banking industry, the sector has gotten a lot of bad press in recent years. But wether we like it or not, nothing can take place in this global economy without the banks. The are an integral part of our economy as they facilitate trade and economic growth through the provision of much needed finance. I wish you all a pleasant and profitable Q4. editor

contributors

Mwiya Musokotwane
Financial Analyst
Editorial Business management Photography Design & Layout

Chipo Muwowo
Economist

Chiteke Kapepula
Communication Architect

Alice Kalufyanya
Public Relations Executive

+260 963 239 110 Vivid Blue Publishing That lazy Boy Photography Vivid Blue Publishing
EMM supports the global initiative to replant and sustain our forests. EMM is printed on FSC certified paper. This indicates that the wood pulp is obtained from well-managed forests, which adhere to strict environmental, social and economic standards. FSC is the only eco label endorsed by WWF, Friends of the Earth, Greenpeace and the Woodland Trust.

BUSINESS
B.O.Z Policy rate
At its August 2013 meeting, the Monetary Policy Committee decided to maintain the Bank of Zambia Policy Rate at 9.75% for September 2013. The Committee noted the continued presence of upside risks to the inflation objective arising from continued cost push pressures largely associated with pass-through effects of the depreciation of the Kwacha. The Committee also anticipates that further inflationary pressures may arise from demand pull factors in the coming months. Notwithstanding the above, the Committee observed that inflationary pressures may moderate on account of lower food prices due to seasonal improvement in supply and the waning effects of the recent upward adjustment in fuel prices following the removal of subsidies. Accordingly, the Committee decided to maintain the policy rate at 9.75%. The next m e e t i n g of t h e M o n e t a r y Po l i c y Committee to review the Bank of Zambia Policy Rate will be held at the end of September 2013.
Treasury bills
Tenure TBs 91 Days Tbs 182 Days Tbs 273 Days Tbs 364 Days Yield 8 13.2099 13.5 13.45 Discount 7.8436 12.3936
Lusaka Stock Exchange

Stock Exchange Snapshot

African Explosives Bata British American Tobacco Cavmont Capital Celtel Zambia Copperbelt Energy First Quantum Investrust Bank Lafarge Cement Zambia National Breweries Pamodzi Puma Energy Reiz Shoprite Zambeef Zambia Sugar Zambian breweries Zamefa Zanaco ZCCM-IH 6.90 0.74 3.50 2.00 28.00 0.70 4.30 13.50 10.70 10.00 0.55 1.35 3.24 63.00 3.99 7.00 4.01 5.00 0.28 17.08

Currencies
US Dollar Britsh Pound Euro Rand 5.29 / 5.31 8.44 / 8.48 7.06 / 7.09 0.54 / 0.54

Commodities
Aluminium /mt Copper /mt Diesel /Litre Petrol /Litre Cement/ 50kg
$ 1,885 $ 7,124 Kr 9.20 Kr 9.91 Kr 64 /80

Food Basket
Mealie-Meal 25kg Cooking Oil 2.5L Chicken (large) Bread Salt 1Kg Tomatoes (1kg) Potatoes (1kg) Rice (1kg) 42 / 65 30 / 40 27 / 30 4.50 / 6 3/4 7.25 9.27 8.28

12.2619 11.8593

Economic overview
Zambias economy extended its growth momentum in 2012. Growth was driven by expansion in agriculture, construction, manufacturing, transport and finance. Economic prospects for the future appear bright if growth can be sustained and broadened to accelerate job creation and poverty reduction. After a successive slump in output, copper mining is expected to rebound in 2013, and is projected to reach 1.5 million tonnes by 2015. This is largely due to investment in new mines and the expansion of capacity at existing plants. Robust international copper prices will provide additional stimulus to mining.Ultimately, manufacturing activity, driven by the private sector, and directly or indirectly linked to these natural resources, will be critical to the countrys long-term prosperity.
African Economic Outlook (AEO) 2013

Government Bonds
Period 2 Years 3 Years 5 Years 7 Years 10 Years 15 Years
Bank of zambia

Yield 13.5 15.25 16.48 15.5 17.25 17.25

C oupon 9 10 11 12 13 14

NB. Market prices fluctuate, please consult your financial advisor for recent data before making decisions . T/Bills, Bonds and stats expressed in %. All stocks & commodities are in ZMW unless stated and reflect the market price on a low/high or average basis.

NEWS
World stocks rally after Fed keeps stimulus intact
Gobal stock markets have soared especially in emerging economies, as investors welcomed the US Federal Reserve's surprise decision to keep its vast stimulus policy unchanged.The Fed confounded market expectations overnight with its decision to refrain from tapering its $85-billion-a-month bond-buying programme, unleashing a worldwide equities rally led by emerging markets."With tapering seen as all but certain, frenzy ensued last night when... the Fed held back, causing markets to soar," said Spreadex trader Alex Conroy. "This move by the Fed comes as a shock to investors who had positioned themselves and effectively accepted that Chairman (Ben) Bernanke would start the reduction."European stock markets joined the global rally Thursday after the Fed decision fuelled a buying spree on Wall Street that sent the Dow Jones Industrial Average up 0.95 percent and the S&P 500 up 1.22 percent -- with both closing at record highs. London's benchmark FTSE 100 index of top companies climbed 1.44 percent, Frankfurt's DAX 30 gained 1.16 percent to push further into record territory and the CAC 40 in Paris rose 1.15 percent to levels last seen only before the global financial crisis began. The European single currency raced to $1.3569 -- the highest level since early February. It later stood at $1.3561 in late-morning trade, up from $1.3516 late in New York on Wednesday. The stock market gains in Europe followed an Asian rally led by underpressure developing economies, which breathed a sigh of relief after suffering a heavy sell-off in August as investors bet on the Fed tightening its monetary policy.After news the Fed would hold off scaling back quantitative easing, or QE, Manila jumped 2.81 percent, Jakarta 5.05 percent, Mumbai 3.33 percent and Bangkok 3.66 percent in value.In Tokyo, the Nikkei rose 1.80 percent. Hong Kong added 1.67 percent and Sydney rallied 1.10 percent to finish at a five-year high. Emerging economies have suffered a huge outflow of cash since Bernanke hinted in May that the Fed would begin tapering its bond-buying scheme, which had led to a spurt of investment abroad in search of higher returns than in the United States. The Fed decision sent the South African rand climbing to 9.62 to the dollar, up about 8 percent from a low point set last month.South Africa's JSE Top 40 index rose 2.45 percent to 39,782.3 points in midday trade."So we got a temporary improvement but I am not convinced that this is going to be a silver bullet for the rand or emerging markets" said currency strategist Mike Keenan at ABSA Bank in Johannesburg. Investors cheered the prospect of continued easy money injections into the world's biggest economy.In an eagerly awaited announcement, the Fed said it would keep the stimulus in place as it wanted to further gauge the economic impact of public spending.

Roland Jackson (AFP)

Back in the Red: Can Zambia Manage More Borrowing?

Zambias current debt to GDP ratio is 27% of the countrys $20 billion GDP, according to Ministry of Finance Permanent Secretary Felix Nkulukusa, speaking to Think Africa Press, 10% of which comes from external lenders. He says 2014 projections of the debt burden are in development, and quashed fears of other public bodies issuing bonds, saying none of them have been rated and they do not have the technocratic capacity to engage the market. Current debt levels are widely considered sustainable, at least in the shor t term, all the more so if government successfully rebases its GDP this October, a move observers say could increase GDP by 20%. Still, there are those who are reticent. Speaking as a private economist and not a member of ActionAid, Kryticous Patrick Nshindano, Economic Justice Program officer stresses that a prudent future based on a transparent borrowing regime with plenty of oversight. He argues that If we are able to put in place mechanisms that will ensure first of all theres accountability, theres transparency, theres the issue of monitoring the kind of money we are borrowing, and its utilised for intended purposes, and this has to be capital projects, it is a welcome move. He presented a number of policy options following the formation of a Tripartite Free Trade Area and urged the adoption of trade facilitation measures, in addition to the Tripartite FTA and CFTA reforms.These, he said, "would be critical to ensure large benefits in terms of both real income and trade to all tripartite countries as well as for boosting intra-Tripartite trade and its industrialization." In addition a full elimination of tariff barriers on goods within Africa accompanied by procedures to ease trade across borders would offer new market opportunities as the tripartite exports towards other African partners would substantially increase. "Most of this additional trade creation would take place in industrial sectors," he said.

thinkafricapress.com

innovation

Standard Chartered

Your ideas are important they drive our growth

Our clients needs are rapidly changing, We have to stay one step ahead of them by providing them with solutions that meet their expectations. You are an important part of that process, you are able to suggest new products, services, technology and ideas that can improve our services to the clients. Your ideas can also help make our bank a better place to work.

Here for good

blog-spot

Continuous Improvement
The whole point of business is being able to develop products that people will buy, but can you do this with every new product that you develop? Surprisingly the answer is yes, think continuous improvement but with the customer "helping" you develop the products that they want, its a no brainier. The popularity of the iphone, ipad and many of Apple Computers' products is down to its uncanny ability to integrate its customers into product development. The "continuous feedback focus group" approach of Apples' quality management program is one of its greatest assets as it has become an important tool for gauging what the response of the market will be to products and services under development. The integration of the views and opinions generated by the participants of these focus groups, into the overall design and creative process is another important aspect of the quality program by Apple. It illustrates how the organisation has the interests of its consumers at heart during the development of new gadgets and gizmos. Apple Computers' focus on creating consumer driven products and services is one of the most important aspects of its novel Customer Quality Feedback (CQF) program because it allows the organisation the ability to garner fresh ideas from the responses and feedback. This also means they are able to tap into a specialised niche market, usually made up of owners of older versions of the products. Many of these users are interested in having a say in the design of the latest products due on the market. The business is able to control the flow of information through strictly enforced terms and conditions, that are applicable to all participants of the quality improvement and design program. The participants are proud to be part of the feedback program because this allows them to have a role in development of the new product, through their views and comments. This system also allows them to add a personal touch through addition, that they believe, will be beneficial to making the product more user friendly and functional for fellow buyers. Their role in this improvement program also helps cut down the number of problems that arise once the product is officially launched, adding to the products overall quality. As a result there is alot of user pride as the products are of a high quality and have the functionality and durability that few other manufacturers can boast of. This also ensures that the next generation of Apple products always has a ready market. This of course is a vital advantage over its competitors, as the organisation always has a steady supply of consumer driven information that is generated from the opinions of the participants, which it can use to add to the quality, usability and viability of the products it is releasing to the general public. Your organisation should pair its quality improvement or product design and development initiatives, with a human

resource centred implementation. Any quality improvement initiative, requires buy in from all of the organisations internal stakeholders. This helps roll-out the quality assurance program quickly, it also ensures that it will quickly be implemented and put into practice. Employees are the driving force for the success of any program and are part and parcel of the processes that are involved in achieving the organisations plans and goals. Buy in from the employees can be achieved through making the organisational culture more open and less formal or putting in place a performance rewards system.

feature

Globalisation
and the underlying dimensions to this megatrend.
We live in an increasingly inter connected world, a global society of communication and interactions that have inspired a number of cultural transformations. The global village, coined in the 1960's, has come to represent technological progress with better global human relations, that in turn has revealed newer technologies that have changed the face of communication forever. In essence, the changing global landscape was heralded with the arrival of a powerful global media driven culture, which in turn is shaping the socialisation processes. By this we mean the values and beliefs of people, this is achieved by influencing their decision making on a number of issues. This is evident in areas such as education choices, employment, leisure, technology, politics and life in general. There is no denying the fact that new technologies such as the internet and twenty-four hour news and television have had a huge influence on society. Globalisation can be defined as the movement or the consequence of shifts in technology, economy, knowledge, people, values, political ideals and ideas across borders. Globalisation as a process itself is not a recent development, evolving from the cross border and continental trade of early civilisations as people sought to explore the world and exchange goods and knowledge. The rapid pace of development and the technological advances associated with consumerism began in the early 80's and is the period we find ourselves in today. The integration and interdependence of our national economies, means that countries across the world are sourcing raw materials and producing products and services in various localities in Africa and around the world but also countries. This has lead to the rise of regional economic integration blocs such as OPEC, SADAC and the AU which seek to collectively determine how best to harmonise the economic activities of member states. This is done through the reduction or removal of various trade barriers and the introduction of trade agreements, pricing strategies and various tariffs, that help or share the benefits

10

among each member state, or as a group. The growth of global investment and financial flows has seen the creation of international capital markets and banks with a global presence that make it easier to access finance and trade in multiple countries in various currencies. This has been aided in part by the technological advances in the information and technology sector. Additionally the convergence of consumer lifestyles and preferences, means that products and services can be tailored to mass markets as consumers have similar tastes in products and services. It also ensures that raw materials and other factors in the manufacturing processes of products are standardised or similar . The globalisation of production has helped to ensure that most organisations are able to maintain their competitive edge through economies of scale. They also have the option of choosing to locate their production facilities, headquarters

and business units

in countries with

employers want, especially in areas like information technology, medicine and also engineering. They may seek the employees from wherever they are available. This may cause an influx of skilled or cheaper migrant labour into that country (at times to the dismay of locals). The damage to the environment, tax evasion and decimation of local market players are some of the many challenges globalisation presents. To cope with the effects of globalization, many organisations have had to re-orient their structures and functions to meet the challenges of the global marketplace. This re-orientation or progression is what is now called internationalisation. There is now a need to develop and refine their strategic planning and implementation processes to take into account market fundamentals, fluctuations, legislation and government policies in more than one country. The business unit model is often used to overcome these concerns, but we shall deal with that in another issue.

favorable labour polices, tax breaks and/or investment incentives will be awarded to them. Additionally Globalisation provides many opportunities and even greater challenges on people, business and society as a whole. Bigger markets can mean bigger profits which leads to greater wealth for those developing capacity. It also helps reduce poverty in many countries through the creation of jobs, increased tax revenue and through various corporate social responsibility initiatives. Nevertheless having many weak domestic policies, poor infrastructure and restrictive domestic or international trade barriers, can restrict a country's ability to take advantage of the global marketplace. Each country makes decisions and policies that position them to maximise the benefits and minimise the many varying challenges presented by globalisation. If for example a particular country cannot produce the graduates with the skills that

11

Human Resources

Standard Chartered

We are the best because because you give your best

Our bank is only as strong as its human capital. We will endeavor to provide you with an enabling environment that nurtures your talents and maximizes your potential. Your ambition and opportunities for growth are just as important, we want you to have a fulfilling career with us.

Here for good

Vashisht Bhatnagar

best practice

performance management and appraisal

Performance management and appraisal are a fundamental construction of total quality administration of organisations. Historically, organisations have always measured performance through financial performance, be it success by profit or failure through liquidation. The meaning of performance management has evolved and continues to evolve. During most of the sixties and seventies, performance management was often equated to some form of merit-rating, in the eighties and nineties, it was linked to many of the new management paradigms that were intrduced such as management by objectives, performance appraisal and performance related pay. The concept of performance management can be applied to many disciplines, from sports to companies, government institutions, students, individuals and other areas. Most organisations today need to improve their performance to survive and prosper in todays competitive world. Increasing individual and organisational performance is the key to economic advantage. The overall basis of introducing performance management is to have agreement between the organisation, management and the individual employees on Zambia both in the public and private expectations, through a formally agreed s e c t o r s . F o r e x a m p l e i n m a n y framework of planned goals, standards organisations a budget is a reflection of an and competence requirements that will be activity based financial plan for all achieved over a given period of time. Performance management and related activities are essential in communicating the vision and objectives of an organisation to all employees, Only by setting departments in the organisation. This suggests that every activity to be undertaken should follow the financial guidelines that have been approved over a given period of time.

departmental, unit, team and individual Performance appraisal and feedback assist performance goals that are related to wider employees to understand what work they objectives, can an organisation achieve do well and how they can improve their strategic targets. Conducting a regular and output in other areas. Managers can clarify formal review of the progress made what they expect individuals and teams to towards achieving these targets is the do. Likewise, individuals and teams can second ingredient necessary as this helps communicate their expectations of how the organisation to identify training, they should be managed and what they development and reward needs and need to do their jobs better. It follows that outcomes. Performance management also helps define a managerial and corporate structure to look after all the characteristics performance management is about interrelationships and improving the quality of relationships between managers and individual employees in the organisation.

listed above, this entails that individual staff Performance management and apprisal and line managers are each assigned are vital organisational and management specific responsibilities to manage and tools. While it may take the lead, it is not monitor. These characteristics are true just a Human Resource departments reflections of most organisations today. responsibility. Neither organisational nor Performance management has been individual performance can be measured embraced by many organisations in by itself the two must be linked for success.

13

conversations
The head of Consumer Banking at Standard Chartered is not your average business leader. His team describe him as the best in the business. An open door policy means he is also one of the most accessible Managers in the industry. Sonny Zulu shares his story and his curiosity or is it a passion for space science.
I am late for my interview, we had arranged to meet at eight am but by the time I have been cleared by security its eight thirty. As I take the elevator up to the second floor I am slightly nervous, after all first impressions do count. I am greeted warmly by his Personal Assistant and two other employees. As I wait many other employees come and go, while the phone rings every few minutes. He is a busy man. His P.A finally ushers me in just after eight forty. He is hunched over at his desk, typing away furiously, a look of deep concentration on his face. Sonny Zulu gets up to shake my hand and points to the seat opposite his. I apologise for the delay (traffic is a nightmare) but he waves it off, it's not a problem, he says. I ask about work and the pressure that comes with it. I have a fantastic PA who helps me to manage my diary but sometimes I think I do too many things at the same time. Every time I do something very well, I get more responsibilities. It works and I like it but it definitely puts a lot of pressure on my time Sonny was born in at Lusaka's Chelstone Clinic and he started school in Ndola at Suburbs Primary School in the middle of the year in 1983. When asked why in the middle of the year, he responds. Well, it's a long story but suffice to say, I took myself to school following my brother and sister for a magic show which never took place, hence I ended up in my brother's Grade 1 class. He moved to Itawa Primary School about six months later and in 1985, the family moved back to Lusaka where he continued his education at Chelstone Primary School. He points out that his family was relatively mobile during his youth, with the family moving to Chipata in 1988 when his father was relocated and continued part of Grade 6 and the whole of Grade 7 at Kanjala Primary school in Chipata. From there Sonny went to Hillside Secondary School from 1990 to 1994 where he completed his secondary education. My Grade 12 results came out in 1995 and I was blessed to be the only student in that year to qualify to the University of Zambia. In those days, we used to wait a year before going to the University so I started my first year at UNZA in 1996. In those days, we used to stay 7 years at the University of Zambia for a 5year programme,he says with a smile. After graduating with a Bachelor in Mineral Sciences with a focus on Metallurgy and Mineral Processing under the School of Mines, Sonny went on to obtain a Masters in Business Administration in the United Kingdom at Manchester University in 2011.While completing his education, he did some work with Konkola Copper Mines in Chililabombwe, with his final year project being based on optimizing hydro cyclones at the Konkola plant. After finishing his first degree, Sonny joined Catholic Relief Services (CRS) where he worked as Tracking and Reporting Officer. I joined as an intern and it also another long story on how within 6 months I changed two jobs within the same organization and was promoted to be the Tracking and Reporting officer for the C-SAFE programme. His mandate involved three international orgainsations, CRS, Care International and what was World Vision at that time. When asked how an engineer ended up in the banking sector, he says, In August 2003, I joined Standard Chartered Bank as a Management Trainee in the Consumer banking business. I have had a very interesting career in the Bank and I am very thankful to God for the opportunity to explore my potential and for his blessings which have seen me through every step. Due to some relatively exceptional performance while on the Graduates Programme, Sonny was promoted to be Head of Corporate Affairs within 18 months of joining the bank. He also became part of the Country Management Committee which is the Top Management team of the Bank. During that time, he had opportunities to work in London and South Africa on short term assignments. He moved back into the main business stream in 2007 as the

14

General Manager in charge of all the banks distribution networks. In March 2011, Sonny was appointed as the Southern Africa regional General Manager for Distribution, managing a team of over 1000 people in the region. To his delight in February last year, he was officially appointed as the Head of Consumer Banking for Zambia. With all these achievements under his belt and much more to achieve, I ask if he has time for a private life. I am married to the most beautiful lady in the entire world. Her name is Ngosa Musonda Zulu. We have two sons. Joshua is 7 years old and Josiah is 3 years old. He also adds that he learnt a lot from his brothers and sisters as they were growing up. I come from a big dynamic family and I learnt from each one of them. When asked to define what keeps him going and pursuing new and exciting challenges he quickly responds with a smile it's mostly my wife and my two sons. My wife gives me very honest feedback and I appreciate every word she tells me. I work hard for my sons. Every time, I look at them, I am motivated to carry on, he goes on. His spacious office is a testament to the devotion he has to his family large portraits adorn one side of the wall and a few more are on his desk. I ask him to sum up some of the challenges he faces in the banking industry as a whole and in his job specifically. Well there are quite a number of challenges. First of all, as you know, there have been a number of regulatory changes in the recent past. All banks have had to ensure that they comply with no exceptions or obtain necessary

dispensations. He also points out that some of these changes have huge cost impacts and require additional capabilities for implementation. However, I am fully supportive of the changes and they all mean well in my opinion but we could probably do better on the implementation side of things. He adds that there is still a lot of work still to be done on improving the credit culture. In as much as there has been a huge improvement with the introduction of the Credit Reference Bureau, the industry is still experiencing individuals and businesses who borrow with no intension to pay back. Unfortunately such individuals and businesses can continue to operate without servicing their debt and the foreclosure process can take very long. One of the biggest challenges he notes about the banking sector in general in Zambia, is that the population is small and those in formal employment are also very few. Return on investment is therefore very low and this high cost of importing both hardware and software is not helping much, he points out. With the high costs and a small customer base, many banks are slow to invest in latest technology. I notice some of the awards on display in his office, they are evidence of his dedication, hard work and sheer determination to excel. With a list of achievements that stretch a mile, I ask which of them stand out to him. He pauses for a moment before replying. There are many! But probably just to mention one. Working together with my the southern region. We now have a bank opening up to 10 pm doing normal banking. We also have a bank open on a Sunday! This will go down in my books as an achievement I will always remain very, very proud of. There is a huge deference between a manager and a leader and so I ask what kind of a leader is he? I am actually not a consensus leader. However, I get enough views from my team but I strongly believe a leader has the responsibility to make decisions. Having said that, you have to be smart enough to make enough consultation I am glad to have led the team that introduced extended banking hours in Zambia and in the southern region. we now have a bank opening on a Sunday! This will go down in my books as an achievement I will remain proud of.

On the record
Describe yourself in a few words.
I am a very positive person, this helps me get over setbacks quickly and utilise the lessons learnt to better myself.

Describe the best business decision youve made or project youve worked on.

Who or what has been your biggest influence?

My Family! I learnt a lot from my brothers and sisters when I was growing up. I come from a big dynamic family and I learnt from each and every one of them. Today, its mostly my wife and my two sons. My wife gives me honest feedback and I appreciate every word she tells me. I work hard for my sons.

team, I am glad to have led the introduction of extended banking hours in Zambia and in

16

and involve your team as much as possible, but an effective leader must bear the responsibility of making the right decision, even if it's not popular. The key is engagement, communication and proper implementation. I consider stakeholder management to be very critical. The way we relate and the way you mange relationships with people can close or open doors. This applies to our colleagues, superiors, subordinates and every person we come in contact with in the day to day routines of life. He also points out that working hard is a sacrifice and people need a good balance between work, family, self-development and your faith. It is also very important to balance between your gift and your character. Many people who are hardworking and promising have been brought down due to poor character. I ask him if he has any words of advice to those that aspire and hope achieve what he has. First of all, I would not encourage anyone to aspire to achieve what I have achieved. Instead I would encourage them to aspire to achieve beyond what I have achieved, he answers. If anyone has achieved what Sonny has achieved, it will be no news. It has already been done before that record is already broken. Aspire to raise the standard. I am a very competitive individual and I always aspire to go higher than the current standard set by others or even by myself. He encourages people to write their own story. They should not give up because somebody else failed or because somebody else did not make it. We are all different and we all have a unique opportunity to write a New story. It is choosing to fail if we predetermine our fate based on someone else's story. If you want to be distinguished, you must always detest the 'chintu bwingi' mentality. Let me end there because I feel like opening People must be able to stand out from the crowd and write their own unique story. This he adds may come at a cost because many times you may have to hold unique opinions which may be different from the majority. However, you need to be smart enough in the way you introduce or implement your unique ideas to ensure you still have people around you, but do not be shy to be different. People who strive to achieve greatness he continues, must be able to, or at least seek to understand human behaviour. Lastly, it is extremely important not to believe is something beyond you. There are many times when you may have no answers and the only one with an answer is the Supreme Maker. I always have fellowship with my creator and that keeps me going. I ask him about his hobbies, what on earth Sonny Zulu does in his spare time. His eyes light up as he answers, Oh! I love astronomy and space science and I love following latest discoveries. I can speak to you the whole day on stars, planets, black The important questions for all of us to answer are, what is my mission? What is the purpose of my life? If we do not know the answer to those questions, we may just end up being irrelevant jewels or a master piece that cannot find its place on the wall. His P.A reappears, his nine Oclock meeting is about to begin. I ask if he wants to see a preview. He laughs, pauses for a moment then replies send it through.He extends his hand and thanks me for coming. another chapter all together. But allow me to say that the more I get deeper into science, the more I appreciate the greatness of God. Many things that God has created are simply beyond any human understanding no matter how much we try. I guess that is the whole point because that makes God, God. holes, dark energy and anti-matter. Or maybe the Universe or the Multiverse as some of us now believe.

pearl of wisdom
You should not give up because somebody else failed or because somebody else did not make it. We are all different and we all have a unique opportunity to write a new story.

17

innovation
introducing a new dimension to business class

British Airways
CLUB WORLD

The airline has added a touch button privacy screen in Club World, which makes you fee like you are in your own personal space. Many business class travellers often find themselves working during much of these flights. The addition of a desk,a phone and personal power socket ,will help you get any extra work done before you arrive. Your own personal locker helps clear out the space when you wish to recline or dine. Yes I said dine.

British Airways is rolling out a new business class configuration on some of its international long haul flights. The revolutionary design and layout has some features that are pretty mind boggling. This has been fitted to specific Airbus A321 aircraft, so if you ever find yourself in Business Class (Club World) you will be in for a surprise. The unconventional approach to seating has added a delightful or adventurous element to business class travel.

Travelling by British Airways Club World is an essential for the jet setting business executive. Before you board, you get access to BA's dedicated Club counters across the globe. These save you from queues if you haven't already checked in online. Bas Club lounges offer you complimentary Wi-Fi, allowing you to catch up on a few last minute e-mails, or if you'd prefer, just take it easy with a drink or two and a snack.
19

I mentioned dinning, and if you have a look and the meal options, you would feel like you are dinning at a restaurant. Gourmet is the word they use in the culinary arts. Whether its breakfast or something light for those who snack between meals, a member of the distinguished British Airways flight crew will be happy to oblige.

You also get a complimentary wash bag that contains everything you need to feel totally invigorated. on the flight. Your sleep will be undisturbed until breakfast, which is served to you in bed before you land. If you prefer, you can sleep for even longer then enjoy a hot breakfast and refreshing shower in BAs London Heathrow Terminal 5 arrivals Galleries Lounge.

millennials rising

Mwiya Musokotwane
I studied Business Administration for my Bachelor of Arts in the U.K at Richmond University, an American University based there. I a majored in Finance and did a minor in Economics. My Senior Project for my BA was the role of micro-finance in the reduction of poverty. At Masters Level I opted to study International Business Management; my dissertation was based on the role of venture capital in the Internationalisation of new companies. I completed this at the University of Surrey which is also in the U.K. I chose these areas of study because I have an interest in Finance, Economics and Business Internationalisation. I returned from the property and private equity; this is in addition to macroeconomic research. I am also responsible for helping develop investment strategies, forecasting likely financial performance of the various companies we invest in. I also help set the house view on likely economic direction. I work on these things together with another analyst and we report to the Chief Investment Officer. Some of my other responsibilities at work include business development and client relationship management i.e. meeting with the trustees of the funds we manage. As far as achievements are concerned, I U.K last year and thus far I am finding work very engaging, I learn a lot and enjoy it. I get to meet a lot of people and as such I get to widen my perspective on Zambia and Africa in general. Currently I'm working as an Analyst at a large Financial Services Company that specialises in Pension Fund Investment and Management. Our organisation manages just under US$400 million in Assets for various workplace pension schemes in the country. My responsibilities at the moment include investment research on equities, bonds, fixed income,

would like to work towards being a constructive member of the team I belong to and the private sector in general. Being an analyst, I get to be part of many exciting developments and contribute towards them. That in itself is both an achievement and a reward. Career development I believe is something any young person professional thinks of. I would certainly like to grow in my areas of expertise and to do that one needs to learn a lot by doing a lot. Where do I hope to see myself in the future? Well a long time passion of mine has been private equity. I think I would like to be actively working in that space within

the next five to ten years, particularly in the property development sector. With regards to giving my generation a word of encouragement I think one can't overstate the importance of developing your chosen career, also the importance of life learning. That starts with school and university of course but extends further into ones career. By taking ownership over it and continuing to learn how to be the best person you can be in your chosen field. So simply put, take ownership over what you want to do in your life and do it to the best of your ability. Besides that I can't underscore the importance of networking either.

The next generation of business leaders has began to enter the workforce. But who are these millennials and what kind of impact will they have? Each issue will profile a voice from this generation.

definition
Defined as children born in the mid-1980's and later, Generation Y professionals are in their 20s and are just entering the workforce. The millennials, also known as Generation Y is the fastest growing segment of todays workforce.

How you can Identify & Develop your successors

For many, after a long-spanning career in a particular position, one can look back on the role as one we have become emotionally attached to. We may know the job, and indeed the office like the back of our hand. When the time comes when we move on from such a job, the process of choosing
www.leadership-expert.co.uk

succession will safeguard the $ billions of shareholder interest in the company. However, your succession doesnt need to move markets for it to be important enough to plan early. Beginning to think about potential replacements as you give fixed notice to your employer is simply not sufficient, as you should always be evaluating employees from a potential leadership perspective on a continual basis. In cases where you have identified potential successors, you may still see improvement areas that youd like to see worked on well before a hand over can occur. You will want to ensure that they develop these skills as part of their

annual plan/continuing professional development if possible, but dont be afraid of assuming a mentor role in one on one workshops that are built around developing those skills. With a counsellor/counsellee relationship, you can share some of your insights, which they will probably been keen to lap up when put in the context of a future promotion. Choosing a successor based on their merits, or skills, is a modern, reasoned and effective way of selecting the next leader. Using skills as the key criteria ensures that the leader who follows you is capable of meeting your expectations and continue the good work you have begun.

and grooming a successor is one filled with emotion. The biggest mistake many business leaders make in succession planning is to leave it too late. To take the Ohama Oracle Warren Buffet as a good example, in this case he has been planning his own succession for over a decade. In the case of Buffetts Berkshire Hathaway Corp, a smooth

22

perspecvtive

Zambia's middle class: well and truly on the move

When spoken about in Western media particularly, Africa has often been presented as a continent ravaged by wars and blessed with vast natural resources yet barely able to feed its people and compete with the rest of the world economically. To present the African continent in this way is not entirely untrue though in the words of the celebrated Nigerian writer, Chimamanda Adichie, it presents only one side of the story - a single story. The Africa of today is still plagued by many of these problems yet a great deal of change is taking place; the so-called 'African middle class is well and truly on the move. By 'middle class', I refer to individuals and households that are seeing their incomes rise at a rate that provides them with sufficient disposable income to consume on what in economics we call 'a higher indifference curve.' They are able to spend their 'income excess on more, higher value non-food items such as foreign holidays, property, company shares, other financial securities, and more. These households and individuals are generally well-educated, to university degree level at least. Several have been educated abroad at some point in their lives and the majority of them can be considered to be in professional employment, as accountants, lawyers, engineers, doctors, IT consultants, educationists, or business people. According to McKinsey, the global management consulting firm "many Africans are joining the ranks of the worlds consumers. In the year 2000 alone, roughly 59 million households on the continent had $5,000 or more in income, above which they start spending roughly half of it on non-food items. By 2014, the number of such households could reach 106 million." McKinsey

Quarterly, June 2010 Report: What's Driving Africa's Growth?

23

I am entirely in favour of economic progress. Private-sector led economic progress that is. But economic progress that supports the few over the masses is nothing to boast about.
thin line in my mind between immense optimism for the continent and grave concern. As an African, I have become fed up of seeing images of poverty-stricken Africans become the defining feature of my continent abroad. We Africans detest that and so anything that reflects our continent in a more positive light is welcome. News of consistent economic growth is often presented as one of those positives. But I raise the question: are we at grave risk of becoming increasingly-divided societies in the process? I am entirely in favour of economic progress, private-sector led economic progress that is, but economic progress that supports the few over the masses is nothing to write home about. The progress being achieved at present is not as widespread as it should be. Consider urban township dwellers exposed to poor sanitation and at risk (year in and year out!) of waterborne diseases such as cholera? Or the children unable to learn at their rural government school because of teachers striking in protest of better working conditions? Or the father grossly underpaid by his employers on one of the country's several mines because Labour Ministry officials fail to enforce minimum wage laws? If GDP (Gross Domestic Product) figures are impressive, do these other issues become unimportant? When governments fail to honour their obligations to the masses, those with a stronger voice must speak out for those unable to speak for themselves. Governments need to know their responsibilities and must be held accountable. And if the middle class become too comfortable and too preoccupied with the things that occupy middle class people, then they will soon be rendered passive and ineffective; a community side-stepping economic injustices that exist right on their door steps. I believe that educated and professional Africans (the 'middle class') have a responsibility to hold their governments accountable on behalf of those with a weaker voice. Seeing the suffering in your brother's or sister's eyes should lead you not to shut the windows of your Lexus as you drive passed, but it should instead push you to fight for their well-being too. And I do not mean just charity ("Hey, here's a T-shirt!") though that certainly will be a part of it. I mean fighting for the authorities to take seriously their responsibilities of creating fair opportunities for all. To take seriously their responsibilities towards not only those already on the ladder of economic progress, but especially towards those that are barely able to get a grip of the first rung. Without this and more, we risk blindly entering an era plagued by gross inequalities and materialistic obsession, if we have not already. Economic aspirations must be met but economic injustices must also be fought.

Chipo Muwowo
Chipo Muwowo is a BA (Hons) Economics and International Relations graduate. He is a budding writer and political journalist.

24

Naturally there will be many other households and individuals earning way above this level. When we look at the education of their children, many are opting for private education over state education systems which in countries such as Zambia, are just about coping due to numerous solvable challenges. In the minds of virtually all respected commentators, the economic progress being experienced by the continent's middle class is all good news for the continent's populace. They often cite the benefits of strong local demand for local products, a widening tax revenue base and job creation undertaken by entrepreneurs. It is worth pointing out however that rising living standards and increased consumption often lead to the middle classes in many countries (not just developing countries) consuming more imported products and not local products necessarily. Many African countries, including our own, did away with the socialist economic model that was synonymous with the one-party state 2025 years ago. Many of our Independence leaders had held on to that model unswervingly since Independence in the 1960s and 70s. By the late 1980s and early 1990s, it became clear that the model was just not working. Strikes and protests became the order of the day. But with a new generation of African leaders came widespread change and the arrival of democracy and economic liberalisation. Some of Zambia's stateowned enterprises, most famously its mining giant ZCCM (Zambia It became an era where you did not have to wait to be employed, but you could start your own business and be an employer. An Consolidated Copper Mines), moved from public to private hands. The mines were now going to be run not directly in the interests of the people of Zambia but primarily for profit for their new private shareholders. As the 20th century drew to a close, it became more obvious to people that they were living in a new economic era. I speak about Zambia particularly here but about the continent more generally. Government policies encouraged investment, primarily foreign but increasingly domestic too. era where you did not have to rent a house all your life, but you could actually buy or build one and pass it on to your children as part of their inheritance. It was now an era where you did not have to feel bad about becoming financially successful, you just went ahead and did it. The American Dream, or something akin to it, was well and truly alive...in Africa! And this is what all those protests in the 1980s and 90s we about right? These are the sort of societies we have been desiring to build all along, right? When we speak of lifting people out of poverty, this is the point we want them to get to, surely? Amidst talk of economic progress, however, exists a

25

bookshelf

One simple idea can set you free: Don't take on a problem if it isn't yours! One of the most liberating books in the extraordinary One Minute Manager Library teaches managers an unforgettable lesson: how to have time to do what they want and need to do. The authors tell why managers who accept every problem given them by their staffs become hopeless bottlenecks. With a vivid, humorous, and too-familar scenario they show a manager loaded down by all the monkeys that have jumped from their rightful owners onto his back. Then step by step they show how managers can free themselves from doing everyone else's job and ensure that every problem is handled by the proper staff person. Not only will you get better at managing your time, but it will also give you credibility as you coach your employees to solve their problems on their own. They will find the work to be more rewarding and in turn it boosts their morale.Highlly recommended if you are looking to become a better manager, and the book itself is short and a quick read. This book is in no way dated, despite being nearly 20 years old, and the advice it offers is still completely applicable in 2013.
books.google.co.zm

Authors : Ken Blanchard, William Oncken Jr. Hal Burrows Publisher: HarperCollins

In Dinner With Mugabe author and journalist Heidi Holland, a former Rhodesian herself, is not primarily concerned with the historical narrative, what went on and so on and so forth. Instead her preoccupation is with trying to understand Robert Mugabe the man. Behind the pomp and show of his public appearances hides the boy from Kutama who has been deeply insecure all his life; the star pupil who preferred books to playing outside; the dutiful son who carried the weight of his mothers lofty expectations as Gods special child. Despite reaching the end of the book unconvinced that Holland shows us clearly where his moral climb down began (and thats assuming he was on a higher moral plain in 1975), I still think the book triumphs in two particular ways. Firstly, the author takes what is still a highly emotive subject and by applying courageous commentary and analysis, sets it within its right historical context. The book challenged my view of history and how I interpret it. To what extent do my own preconceived ideas shape how I look at the past? What influence do media coverage and my own cultural heritage Author: Heidi Holland Publisher: Penguin have in this? We seem to put little effort into sober, objective reflection of the past because it is much easier to make sweeping, comfortable statements. Holland presents lessons for us all. Secondly, the book shines a bright light on human nature in a way that cannot be ignored. There is more that unites than divides us.
Chipo Muwowo

26

insights

Sometimes life hits you in the head with a brick. Don't lose faith. I'm convinced that the only thing that kept me going was that I loved what I did. You've got to find what you love. And that is as true for your work as it is for your lovers. Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do. If you haven't found it yet, keep looking. Don't settle. As with all matters of the heart, you'll know when you find it. And, like any great relationship, it just gets better and better as the years roll on. So keep looking until you find it. Steve Jobs

Wellbeing

How to identify work related anxiety & stress.

Stress is something that affects any manager. Whether it's meeting a tight deadline or just dealing with the daily grind of your job. Although most times stress is considered a bad thing, in some instances it helps us build our capacity to handle increasingly difficult and complicated tasks. It also helps increase performance by keeping us alert and creating a balance in our lives, when it manifests in small doses. In certain industries and workplaces, stress is a part of the job or work culture. Areas such as manufacturing, customer services, healthcare, public order and safety jobs such as policing and fire services are some of the most stressful. Stress is not just limited to the workplace, the time you spend commuting to and from your workplace and family pressure at home can also contribute to higher stress levels.A study carried out by the United States National Institute for Occupational Safety and Health (NIOSH) states that job stress, now more than ever, poses a threat to the health of workers and the health of organisations. NIOSH defines job stress as the harmful physical and emotional responses that occur when the requirements of the job do not match the capabilities, resources, or needs of the worker. Stress also occurs when the situation has high demands and the worker has little or no control over it. Job stress can lead to poor health and injury. Some of the early warning signs that you can watch for include; Apathy, Negativism/cynicism, Low morale, Boredom Anxiety, Frustration, Fatigue, Depression, Alienation, Anger/irritability and Absenteeism. It is important to note these may also be caused by other problems or factors. Lastly it is essential to monitor your stress levels as high levels can negatively impact your performance and in severe cases, your health (missing meals to meet that deadline?). If you feel unwell, consult your physician. Remember a healthy body and mind will boost your productivity. Ensure you take short breaks or leave every so often, it can work wonders on your performance and concentration levels.

28

the last word

True Leadership
From my experience leadership is often confused with management, many managers consider themselves to be leaders by virtue of their positions and titles. Let us try and define the two first, before we proceed to analyse what it is, that makes a truly great leader? Management involves administrative processes, tasks and the day to day operations of a business or organisation. Whereas leadership is about inspiring people, so that they want to follow your vision and help you achieve whatever it is that you wish to accomplish. With that out of the way, let us proceed; the ability to inspire people is central to true leadership. A leader fosters or creates an environment that is conducive for the various members of their team to actively participate in achieving the desired goal. Respect is the second hallmark of a true leader, a manager will push and boss his team around to get a job done, a leader causes his team to rally behind him and help support the various objectives and contribute enthusiastically to getting the tasks accomplished. Respect is earned, it cannot be forced. A leader who respects his team often finds that they reciprocate that respect naturally. With both the leader and his team on mutual ground, it allows them to reach the desired level of performance or accomplish goals quickly. No one likes to admit making mistakes, a true leader does. This goes a long way in helping the members of the team realise that it is human to make them. When the team realise that they can speak up, it also reduces misunderstandings or problems, that in most cases are often associated with mistakes that are covered up. A few examples of problems that can be avoided when people can admit mistakes without fear include, production of faulty products, bad service, negative press and reputation decline. Good listening skills and an open mind helps members of the team feel valued and helps the leader find new ways to achieve goals. Leadership is about what you hope to achieve and why, getting people to understand this vision and want to help execute it. This is aided by being the best at what you do. You have to be an example to those around you, after all actions speak louder than words. This can be in small things such as being on time for work, being organised and prepared for meetings but also by being professional and courteous to others. This can often motivate people to emulate these characteristics. Lastly a leader is the king of delegation; they are constantly monitoring and assessing the members of their team who show potential leadership skills. This means trusting your people with the responsibilities delegated.

29

Work smarter live better

Standard Chartered
www.standardchartered.com/zm

Here for good