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But Abraham never doubted or questioned God's promise. His faith made him strong, and he gave all the credit to God. Romans 4:20 #BeEpic
Chad
@ChadMhako
energy, private enterprise, strategy, advisory | ex consulting partner (global top 10 firm) | Philippians 4:19 🙏🏾
2.8K Following 16K Followers 45K Posts
Latest posts 5
Is TN Cybertech Bank formerly Steward Bank transitioning to a Neobank?
Steward Bank 🏦🏧 now TN CYBERTECH Bank LimitedView quoted post on X
China's advances in energy technology are mind blowing.
Worlds largest battery - beatiful pumped storage.
Last week I visited Anji in central China. Its home to Changlongshan pumped storage plant.
Deep inside the mountains water is pumped 400 meters by solar and wind power from a lower to an upper reservoir. When the sun is not shining or the wind is not blowing or there is peak energy demand, energy from the hydro turbines is released into the grid.
The plant is huge, but fit well into the terrain showing we can build big and respect nature all the same.
It creates a seemless system of solar, wind and hydro 24 hours a day. This is the future of green energy!View quoted post on X
Must read 📌
There are some people who will never accept you. It doesn’t matter how good you are or how brilliant your ideas are. They may even take your brilliant ideas and use them, but still reject you. There are other people ever so genuine, so open minded and willing to give you a chance to prove yourself. The tragedy of life is that you may never know who belongs to the former or the later category until you go all out to prove yourself to them. I am not talking about the choice of the name, TN CyberTech Bank. At least not yet. I am talking about how the NMB Bank of our time lost the bid to be the advisor on the demutualisation of Old Mutual!View quoted post on X
De- mutualisation in Zimbabwe was and is still illegal. After failing to get the law changed when Hebert Murerwa was Minister of Finance, Old Mutual called for Corporate Finance institutions to propose how they could assist Old Mutual to de mutualise in Zimbabwe. The presentations were going to be received by a distinguished team from Old Mutual Zimbabwe and Old Mutual PLC. At NMB, we mounted the most powerful team one could imagine. Dr Julius Makoni, Mr JA Mushore, Mr PF Timba, Mr D Kundishora and Tawanda Nyambirai. That was our team. The first and the last time we did that. We were going to make our presentation. If Dr J T Makoni was convinced that we had got the mandate, he would give me a signal to produce and handover our presentation document.
My solution was simple. But one that only I could come up with at the time. Although the Insurance Act expressly prohibited demutualisation in one section, there was another section that allowed the transfer of insurance business from one insurer to another. My solution was that Old Mutual was to register a new Insurance Company and get it licensed as an Insurance Company. Then apply to the Minister for the transfer of the insurance business from the Mutual Society to the Registered Insurance Company. The transfer of insurance business from the Society to the Registered Insurance Company would effectively achieve the objective of demutualisation without violating the law that prohibited demutualisation. The combined Old Mutual team clapped hands for me. And my team was very proud of me. Dr JT Makoni gave the signal, and I released the document. The Old Mutual team confessed that we were the only team that had given the solution. So we left thinking that we had the mandate in the bag.
A few days later, we learnt that the mandate was given to Barclays Bank. A Bank named after its founder’s son in law, James Barclay. Barclays was to copy and implement our solution without acknowledgment! I was upset. I contacted Beatrice Mtetwa then at K& I. Thorough as she is, Beatrice searched and found out that the Old Mutual advisors had omitted to register the Insurance Company as an insurer. They had transferred insurance business to a Company that was not even registered as an insurer. This always happens when you copy other people’s ideas. If you check, the gazetting of the Insurance company was only done after Beatrice sent our letter of demand in which she pointed out the omission.
Old Mutual sent Lyshon Chipango to negotiate. He negotiated with my bosses, James and Julius. The matter was settled above my head and I was persuaded not to pursue the litigation. I later understood that it was impossible for an indegenous bank to be trusted to handle the demutualisation.
So, the demutualisation of Old Mutual and of the other Insurance Societies that followed was based on my model. I never got paid for it. I never got credit for it. But I understood that I could not be accepted to handle the process even if I was the originator of the innovation on which demutualisation in Zimbabwe was effected.
I never stop trying to convince people. I always hope that they will support my dreams. I get disappointed most of the times. But I also win at times.
Blended finance is the missing critical ingredient to unlock much needed credit to the productive sector. Below is a great example, which needs to be replicated by other banks & mfis. 👏🏾👏🏾
NMB Bank Harnesses DFI Partnerships to Drive 27% Loan Surge in Export-Critical SectorsView quoted post on X
✳️#NMB Bank secured $65M DFI funding in 2024, boosting loans by 27% to ZWG2.8B—91% in forex.
✳️Despite a 97.6% profit dip, #USD revenues cushioned impact; capital adequacy stood firm at 32.36%.
