Well,
Bullish Thoughts can now say he is a SOCIALITE... Why, you may be wondering.
Bullish Thoughts was a nominee at the just ended inaugural ZB Oscars Awards!
It
was all glamour...you know red carpet and all. The ladies were looking drop
dead gorgeous donning 29 inch stilettos
and some outfits that Bullish Thoughts had only seen on Tinker Bell. It was
lovely to say the least.
The
event started off with a display by the capable ladies and girls from the
National Ballet Centre...if only we could make their outfits the National Dress
Code.
Bullish
Thoughts loves ballet…and or ballroom dancing! It teaches you to be at peace
with yourself, it gives vision…it makes you feel you can be anything you want!
Only
if all men could handle every woman the way a ballroom dancer does…with
dignity!
Anywhere,
enough about ballet…That’s for Miss Little Bullish Thoughts during holidays at Reps Theatre
Ballet…Spiritual
dance it is
Bullish
Thoughts was taken aback by the level of talent that local and upcoming
musicians have and the development that they have undergone.
Many
will probably remember Prudence Mbofana
of the BP Yangu Yakwira fame...what
a long way she has come and boy, didn't she bring the house down with
contemporary jazz (if there is something like that). Talented young lady she
is.
We
shall not talk about the affable Tuku "Oliver Mtukudzi". World class
performance is what he always delvers and he did just that.
Bullish
Thoughts was left wondering if he could engineer some corporate finance deal
that would result in the merger of Tuku & Prudence’s bands and list it potentially on Tyson’s
Indigenisation Exchange… Bullish Thoughts is quite sure Josh Hozheri of
Jazz 105 would appreciate such a deal instead of penny stock Jah Prayzah that
he is crying over.
Live
music is where money is at currently and is worthwhile becoming musicpreneur!
While
Bullish Thoughts did not get to take Oscar home, he presents to you some snapshots of the Oscar Awards for you appreciation.
Bullish
Thoughts (left) with World Bank Zimbabwe Country Manager Nginya Mungai Lenneiye at the Oscar Awards
Oscar
at the Oscars Awards
Customer is the King!
Oscars
aside, Bullish Thoughts got taken aback by this ZB event. For a very long time
Bullish Thoughts has been complaining by the quality of service that customers
(who are holding the $s) have been getting from many of the service and product
providers around.
While Bullish Thoughts is not a banker at ZB, he was pleasantly surprised by the treat that was given to ZB's loyal customers. At least someone out there does really care about the customers who have stuck to the bank through the various transformations.
However, Bullish Thoughts wishes the bank would be like the former self (Zimbank) that had much more brand equity.
Perhaps it's time for leadership renewal at the Group level.
30 years is a hell long time at the top especially in corporate world unless it's a family run business!
While Bullish Thoughts is not a banker at ZB, he was pleasantly surprised by the treat that was given to ZB's loyal customers. At least someone out there does really care about the customers who have stuck to the bank through the various transformations.
However, Bullish Thoughts wishes the bank would be like the former self (Zimbank) that had much more brand equity.
Perhaps it's time for leadership renewal at the Group level.
30 years is a hell long time at the top especially in corporate world unless it's a family run business!
Tuku…
the musician at the Oscars
Minimum Capital up in the
insurance sector
The Commissioner of Insurance, Madam Mpofu has
now released the proposed new capital requirements which should in a way bring
sanity to a sector where many insurance companies were in practice brokers.
IPEC is proposing the levels in the tables
below:
Class of Business
|
Current ($)
|
Proposed ($)
|
Life assurance company
|
500 000
|
3 million
|
Non-life insurance company
|
300 000
|
2 million
|
Composite insurance company
|
800 000
|
5 million
|
Non Life reinsurance company
|
400 000
|
3 million
|
Life reinsurance company
|
400 000
|
3 million
|
Funeral
assurance company
|
400 000
|
2.5 million
|
For
broking companies, the following levels will apply:
Current
|
Proposed
|
|||
Class of Business
|
PS ($)
|
PI ($)
|
PS ($)
|
PI ($)
|
Insurance Broker
|
100 000
|
100 000
|
100 000
|
200 000
|
Reinsurance Broker
|
100 000
|
100 000
|
100
000
|
250 000
|
(PS)
Minimum Prescribed Securities and Professional Indemnity (PI)
All Pension Fund Administrators are required
to raise capital of US$250 000. In addition, fund administrators will be
required to possess professional indemnity cover of US$100 000 and to be
incorporated as companies.
All
institutions are required to have complied with 50% of the capital requirements
by 31st December 2012. Full compliance is expected by 31st
December 2013.
Bullish
Thoughts however doesn’t foresee any failure to comply by the players in the
sector given that most of them already had capital levels way above the
required minimums.
He
however felt the regulator should have done something about the rate
undercutting which is the main threat to stability of the sector.
In
Botswana, if laid down rules are violated by particularly insurance brokers,
there is immediate action…loss of licence and a deterrent fine.
Perhaps
in the fullness of time, it will come to pass.
SPAR…a cancer eating away
shareholder cash for dividends
By
the way, can someone tell Bullish Thoughts why Innscor just doesn’t get rid of
SPAR business…it’s a cancer eating away money that could have gone towards
rewarding shareholders but is instead just going down the abyss!
The
SPAR blight has been around too long on the Innscor numbers starting with
Zambian operations. SPAR has also since fallen behind TM & OK Zim in the
retail space perking order as well and some franchises are evidently struggling
as well.
Bullish Thoughts is just wondering who this SPAR baby is...with such losses by now such an operation would probably have been sold off.
It is no secret that performance-wise Zimbabwe SPAR is worse off than South African SPAR!
Don't get Bullish Thoughts wrong...he loves SPAR brand and the merchandise range and The Bridge, Athienitis & Montagu are his favourite outlets.
It's just that as a potential Innscor shareholder, ching-ching is more preferable!
