Part 2: Acie Lumumba Opens Up On How He Lost Everything When His Business Collapsed

Acie Lumumba

Part 2: Acie Lumumba Opens Up On How He Lost Everything When His Business Collapsed

From Hero To Zero: Acie Lumumba Opens Up On How He Lost Everything When His Business Collapsed-iHarare
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Social media personality and businessman, Acie Lumumba has shared the 2nd part of his life story as an entrepreneur and some of the struggles he encountered along the way as he tried to keep his business afloat.

Acie Lumumba, who is the owner of Platinum Fuels, in the first part of his story, chronicled what caused his booming business to go on the verge of collapse.

Continuing with his story, in a series of posts on his Instagram, Acie Lumumba revealed how he lost everything as his business collapsed.

He claims that he lost all his cars, cash, credibility with funders, and customers.

From Hero To Zero: Acie Lumumba Opens Up On How He Lost Everything When His Business Collapsed

He said after losing it all, things took a turn for the worst after he tested for Covid-19 in July this year.

 

From Hero To Zero: Acie Lumumba Opens Up On How He Lost Everything When His Business Collapsed

 

He claims that due to the fact that he has Type 2 diabetes, his battle with Covid-19 was a difficult one, as a result, his health deteriorated.

Lumumba revealed that while he was battling Covid-19 in July, his business totally collapsed. Since he was now broke, it is at this juncture that his girlfriends started leaving him for other richer guys.

While he was down and out, he claims that people started to mock him. To add salt to the wound, critics came up with humiliating terms as they talked about his downfall.

The famous saying; “when days are dark, friends are few” came into play in Acie Lumumba’s life. When he was down and out, some of his employees whom he treated as family started to desert him one by one.

” Next it was the ones I needed the most. I had helped so many feed their families, the extent I rode for my team is so seed. I starved and they ate.
When I fell….One by one I watched Leave. Lesson here was treat employees as employyes, they are not your family.
Lol. Unonyepaiwe!”

 

He adds👇

 

Before ending his eye-opening story, Acie Lumumba went on to share some words of advice. He penned down a list he termed “10 lessons about munhu”.

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    Businesses Who Use Parallel Market Rates To Lose Licences: Mthuli Ncube Announce Additional Measures

    Mthuli Ncube

    Businesses Who Use Parallel Market Rates To Lose Licences: Mthuli Ncube Announce Additional Measures

    Businesses Who Use Parallel Market Rates To Lose Licences: Mthuli Ncube Announce Additional Measures
    Finance Minister Mthuli Ncube

     

    The government has announced that all businesses which continue using parallel market rates in their pricing will have their licenses revoked. This was revealed by Minister of Finance and Economic Development Mthuli Ncube when he announced new measures to tackle the black market rates which have been soaring of late.

    Simbisa Brands has been in the headlines after the quick-service restaurant was revealed to be using a rate of US$1:Z$200  when the official rate is still at US$1:Z$85.

    Below is the full statement from Finance Minister Mthuli Ncube on the additional measures the government is taking to arrest the soaring parallel market rates.

     

    PUBLIC ADVISORY NOTE ON MEASURES BEING INSTITUTED BY GOVERNMENT TO CURB ILLEGAL FOREIGN CURRENCY DEALINGS AND PARALLEL MARKET PRICE BENCHMARKING
    BACKGROUND

    1. Government, through various agencies is presently seized with instituting various measures to curb illegal trade in foreign currency and its associated twin evil; that of parallel market benchmarking or indexation of prices of goods and services at parallel market exchange rates.

    2. The recent resurgence of these practices, which have been identified as significant contributors to price instability in the economy and are imposing significant downside risks to macro-economic stability, and the erosion of domestic and international competitiveness is, therefore, a cause for serious concern.

    3. Over the past 36 months, the government has instituted numerous initiatives to bring macro-economic stability. These include fiscal consolidation which has resulted in balanced budget performance and the elimination of destabilising fiscal deficits despite major economic shocks such as the 2019-20 droughts, cyclone Idai and the ongoing threat of the Covid-19 pandemic.

    4. Furthermore, the restoration of domestic and export competitiveness through the re-introduction of the Zimbabwe dollar, has seen rapid gains being made in stabilising the current account, which has also been boosted by increased international remittances, enhanced export performance and notable import substitution effects.

    5. These development have also seen the rapid growth of privately-held foreign currency reserves from levels of around USS300 million in 2018, to US$1.8 billion currently held in Zimbabwean banks. Official reserves have also increased from less than US$100 million to over US$1.2 billion currently, which includes, the USS960 million recently availed by the IMF to Zimbabwe.

    6. In the intervening period, government has also improved access to foreign currency by all bona fide businesses and individuals through the auction system.

    7. However, a residual core foreign currency demand, fuelled mainly by speculative, and store of value demand for currency on one hand as well as criminal and money laundering activities on the other, has perpetuated and sustained the parallel market for foreign currency.

    8.The result has been that despite large and small corporates, SMEs and individuals having access to the RBZ auction system, the existence of the parallel market has provided an opportunity for price benchmarking at parallel market rates notwithstanding the fact that some of the businesses are accessing their full requirements for foreign exchange via the official channels. These practices were the intended targets of S1127.

     

    ADDITIONAL MEASURES TO CURB ILLEGAL FOREIGN CURRENCY DEALINGS AND PARALLEL MARKET PRICE BENCHMARKING

    Recently, the central bank, working closely with the FIU have begun a process of identifying and prosecuting perpetrators of parallel market activities.

    The initiatives by the central bank have full government support and my ministry will further strengthen the efforts as follows:-

    The Zimbabwe Revenue Authority will be carrying out impromptu audits of corporate activities with a view of quantifying potential tax liabilities arising out of illegal foreign currency trading.

    The Zimbabwe Revenue Authority will also be carrying out compliance Audits with respect to compliance with the Location Tax introduced during the 2021 fiscal year.

    The FIU will continue to closely monitor and analyse financial transactions to identify, expose and take action against perpetrators of money laundering and other financial crime.

    The capacity of the FIU and other law enforcement agencies to investigate and prosecute violations of the Bank Use Promotion Act, as well as various AMLCFT laws, will be enhanced.

    Regulatory bodies including the Public Accountants and Auditors Board, will also be working on a framework to impose appropriate financial and professional sanctions on members of the accounting, auditing and other professions who may be complicit in superintending over illicit affairs by corporate entities which they are charged with running.

    Business who disregard the law and continue price their goods on the parallel market rates will have their licenses suspended.

    Members of the public are also strongly encouraged to report to the FIU and the National Economic Conduct Inspectorate, all business entities directly or indirectly benchmarking prices at parallel market exchange rates.
    This advisory note is issued in the public interest.

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    Zim’s First Cigar Smokes: Mosi-Oa-Tunya

    Cigar Smokes: Mosi Oa Tunya

    Zim’s First Cigar Smokes: Mosi Oa Tunya

    Cigars

    Mosi Oa Tunya is Zimbabwe’s first-ever cigar manufacturing company. It was launched in May 2020 by Zimbabwean entrepreneur Shep Mafundikwa.

    Mosi Oa Tunya Cigars derives its name from the magnificent Victoria Falls, one of the seven wonders of the world located on the border between Zimbabwe and Zambia.

    ‘Mosi Oa Tunya’ is the indigenous and African name for Victoria Falls which translates to “The Smoke That Thunders”.

    There are large gaps in African and European countries that need to be filled in the marketing and production of cigars.

    The founder of Mosi Oa Tunya, Shep Mafundikwa did intensive market research which inspired him to fill that elusive gap in the market and production of cigars in local and in other African and European countries.

    Zimbabwe is one of the biggest tobacco exporters in the world. However, there was no value addition that was done to this tobacco since most of it was exported in its raw form. 

    In an interview, Mafundikwa told this publication that they saw an opportunity to come in and start up this unique project. He said:

     

    “Why leave it to the Caribbean, South America and Latin America to make cigars , something which can be done locally here in Zimbabwe,”

     

    After living in the United States for 15 years, Shep returned to Zimbabwe to set up the first hand-rolled cigar factory in the country. He learned about the Cigar industry in Cuba and the Dominican Republic where he got an expert with 30 years of experience Elias Lopez to head the project.

     

    Zim’s First Cigar Smokes: Mosi-Oa-Tunya
    Zim’s First Cigar Smokes: Mosi Oa Tunya

     

    Despite facing a number of challenges in setting up the pioneering company,  Mafundikwa persisted and focused on his vision until Mosi Oa Tunya became a reality.

    He revealed that with the Covid-19 induced restrictions finally easing across the world,  they are working on exporting Mosi Oa Tunya cigars to various international markets.

    “Great interest has been generated in the region and internationally. Working with Zimtrade we are exploring different markets and we are excited at getting our products onto the international market.”

    “Setting up a business during a worldwide disaster Covid-19 was a major challenge. Being the pioneers in this industry in this nation, we had no template to use everything that we had to do. We did it from scratch and that is a huge challenge,” 

    Cigar manufacturing factory

    He added,

    “Mosi Oa Tunya has one factory in Harare which employs a maximum of 13 employees at full capacity. However, due to the ongoing pandemic and health concerns, the factory is operating at half capacity.”

     

    Mosi -Oa-Tunya plays an important role in women’s empowerment, skills transfer, and export of energy. Most of the cigar rollers at Mosi -Oa -Tunya are women who are receiving the skills from Elias Lopez.

    Mafundikwa said that Mosi Oa Tunya cigars are naturally an African project which depends on local raw materials.

    “90% that comes in the cigars is local and only 10% which is the wrapper is being imported”, said Mufandikwa.

    “Currently we are working with the Tobacco Research Board to produce the special tobacco that we need for the production of the cigar,” he said.

    “However, the ultimate plan is to start working with local small-scale farmers to grow the tobacco for us,” he added.

     

    For more information you can contact Mosi Oa Tunya Cigars :

    Email: sales@mosioatunyacigars.com

    Mobile: 0779554457

    Twitter: @mosicigars

    Instagram: mosioatunyacigars

    Facebook Mosi Oa Tunya Cigars

    Website:  www.mosioatunyacigars.com

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    Build your investments like building your house.

    Build your investments

    Build your investments like building your house.

    Building a house is not so different to building your investment targets and portfolio. When you build a house you first lay the foundations to hold up the four walls of your house. When investing, consider education to be the foundation holding up the four walls that will be the key to your success. These four walls are:

     

    1. Method
    2. Money
    3. Mind
    4. Map

    In this article, we’ll discuss the four walls that hold up your investment ‘house’. Whether you are self-taught or decide to take more structured training – to develop your talents to the fullest and realise your earning potential it’s necessary that you cover all these four areas.

    Method

    There are different ways to trade the financial markets. You might be an aggressive intraday trader looking to achieve earnings within one day, or you might be an institutional investor and prefer to spread your gains over a longer period of time based on the macroeconomic environment. To develop your ‘method’ you will need to understand the behaviour of the financial markets, know about price action, and be competent in using charts and conducting technical analysis. Once you have a good handle on these basics, you begin to practise trading and begin to define and refine a method that works for you. The aim is to develop a method that you are comfortable and confident with. As your skills and competence grow you’ll come to develop more than one method so you can pick and choose which is best under different market conditions.

    Money

    Learning to manage your trade capital is one of the linchpins to being a successful trader. To protect your funds and limit the amount of potential loss, ensure you use a stop order. Placing a take profit order is also recommended as you will see in the section on ‘map’. Make sure you understand how to calculate both stop loss and take profit orders based on the other parameters of your trade (how much you plan to invest, the volume of your trading). Most traders simply fail as they don’t put good money management into practise. They don’t plan ahead what they are willing to risk, or even work out basic entry and exit points, or if they do, they don’t stick to the plan.

    Mind

    Developing critical thinking and having a broad knowledge is crucial to operate successfully in the markets. One of the most common factors holding investors back from making the money they could truly be making is their own mind. Without the right attitude, mindset and discipline, all the best-laid plans can quickly become meaningless. When fear or greed take hold, bad decisions can quickly take over. Developing the mindset required to trade prudently and successfully is easier said than done. You need to be disciplined and grow your problem-solving skills in the case where your trades don’t go in the direction you anticipated. If you’ve developed your method and put your money management practices into place then trust them. Refine and change them when you have the benefit of hindsight. Learn to think, decide and act using impartial, non-emotional judgement.

     

     Map

    What is the first thing you do when you build a house? You draw up the blueprint or the plans to the house. In fact your draw up more than one plan, you have your building plan, electrical plan, plumbing plan and more. Your trading plan is the map you will follow when you enter the markets. Your map sets out your goals and the route you will take to achieving them and will outline the other three M’s we’ve covered above – method, money, mind. First, decide on your ‘method’ – do your analysis, work out what instrument you will trade on which market, decide on your entry point (the price rate and time) and also plan your exit strategy (at what price you will close the deal). Next, work on the ‘money’ aspect of your plan by ensuring you’ve put your risk management in place with stop loss and take profit orders – setting these in place will particularly help you with the ‘mind’ aspect. Now review your ‘map’, have you set realistic goals and objectively identified your trades? Have you conducted a thorough analysis? If not then you are not trading, you’re gambling. If you’re ready, then go ahead and enter the market and don’t forget the ‘mind’ – trust your plan and stick to it.

     

    The financial markets are impersonal, dynamic, profitable, risky, fun and the master of no man. People are often so excited to get into the markets that they forget to carry out some or any of the steps above. You wouldn’t leave out one of the walls when building your house, why would you miss one of the ‘walls’ integral to your investing?

    For marriage, family, love, job/promotion. Goodluck in your business/lottery, court cases, diseases and other Spells kindly call Kiwanga Doctors on +254 769404965 or >>>> CLICK HERE.

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    How to Improve Your Business’s Financial Position

    Marketing is one of the most important factors for growing a business

    How to Improve Your Business’s Financial Position

    Income in your business depends on many factors: from a clear USP to building a marketing and sales department. In this post, we will take a closer look at the main ways to increase the income of an organization.

    1. Formulation of USP

    Perhaps one of the most common reasons for the lack of profit growth is the lack of a coherent USP. It is very difficult for many entrepreneurs to formulate on their own: 

     

    • WHAT they are selling?
    • WHO needs it?
    • What is their ADVANTAGE over competitors?

     

    Let’s divide this question into three parts:

    Product

    What do you sell? Suppose you have a website, pages on social networks, you spend money on advertising, but there are no results. This may be because you are not describing your product clearly enough. Re-analyze from the customer’s point of view the channels where they first get to know your product.

    The target audience

    The problem may be that the product concept is perfect, but you are offering it to the wrong people. Describe in detail your potential customers: age, gender, location, language, and what problems your product solves. The better you know your target audience, the more likely you are to find a common language with it.

    Your competitive edge

    Study and analyze your competitors. Your customers are always choosing between you and your competitors. Find an answer to the question, “Why should they choose my company?”

    2. Search for New Clients

    The increase in the number of new customers is associated with the simplification of the process of entering your sales funnel. It is necessary to analyze all the available sources of traffic in the business: through which channels do customers learn about you? It can be social networks, targeted and contextual advertising, a profitable place in the city centre, advertising from bloggers.

     

    What customer acquisition channels do you use? Are you using all the possible ways to attract them? If not, then you need to make a decision to test new channels and further analyze their effectiveness. 

     

    Diversification is always handy. Even if you are working in the field of Forex trading, the addition of CFD-trading activity to your portfolio will be beneficial. So, establish partnerships with various companies through which you can promote your product, launch a blog like Forextime, and you will be able to reach new clients.

    3. Increase Conversion Rates

    Once you’ve identified your top traffic sources, it’s worth considering getting a predictable lead-to-buyer conversion. The conversion can be described at several levels:

     

    1. The first level concerns the level of awareness. Your potential clients may not even be aware that they have a problem and that you are the one who can solve it. To do this, you need to transfer them from the state of unconsciousness to the level of awareness of the problem. This can be done by focusing on their pain.
    2. The second level is the transition of those who are aware of their problem into those who are interested in your product to solve it. To increase the rates of this conversion, you need to understand why your product interests or does not interest a potential customer. Analyze the effectiveness of advertising campaigns: creatives, audience, their reactions. 
    3. The third level of conversion is when moving from an interest to a desire to buy your product or service. Why does the client want to buy from you? Perhaps you have faster delivery across Nigeria, have a mobile application, or a profitable loyalty program.
    4. The fourth level is the transition from the desire to buy to the decision to buy. A potential customer came to your site, selected a product, added it to the cart, but did not buy it. Why? The person could forget or was distracted. Consider a further strategy for working with this category of customers through content marketing or, for example, retargeting. Translate them into a messenger and communicate using a chatbot. Your long-term profit depends on the elaboration of this stage. Agree that in a few years you can lose thousands, or even millions of naira, without a system for pushing customers to purchase.

     

    4. Improving sales skills

    Let’s say you have successfully implemented all the above. Your business is steadily receiving new leads, but the conversion rate from requests to purchases is very low. The reason lies in the fact that the sales department is not built.

     

    Analyze how quickly your managers respond to incoming requests, whether all stages of sales are followed, whether they know sales techniques (if not, then train them), work out all the objections of potential and current customers and, based on them, create your unique scripts for working with requests.

    5. Increase in the Margin

    Another way to increase the income of an organization is to increase the margin. It is the difference between the cost of a product and the price of its sale, in other words, it is a markup. There are two ways to increase margins: raising prices and lowering costs.

     

    If you already have a queue of customers, and you are unable to cope with the flow, then a small increase in prices will not harm your business: your product is already in demand. To raise the price and not lose customer loyalty, make your product more valuable in the eyes of the consumer, and also warn about the increase in value in advance.

     

    Cost reduction can be carried out in various ways: searching for new suppliers, saving on electricity, reducing production costs, and much more.

     

    For marriage, family, love, job/promotion. Goodluck in your business/lottery, court cases, diseases and other Spells kindly call Kiwanga Doctors on +254 769404965 or >>>> CLICK HERE.

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    Acie Lumumba Chronicles How His Business Collapsed…. Dishes Out Advice To Start-up Businesses

    Acie Lumumba Chronicles How His Business Collapsed.....Dishes Out Advice To Start-up Businesses-iHarare

    Acie Lumumba Chronicles How His Business Collapsed…..Dishes Out Advice To Start-up Businesses

    Acie Lumumba Chronicles How His Business Collapsed.....Dishes Out Advice To Start-up Businesses-iHarare
    Acie Lumumba(File Image)

    Social media personality, political activist, and businessman Acie Lumumba took to social media to chronicle how his business collapsed and how he had to rebuild his business again.

    Acie Lumumba, real name William Gerald Mutumanje is the owner of Platinum Fuels which supplies fuel to other fuel dealers and service stations around Zimbabwe.

    In a series of posts on his Instagram, Acie Lumumba shared a short story on what happened to his Platinum Fuels company.

    He revealed that when he started selling fuel, he used jerry cans to deliver the commodity to customers who were not keen on standing in long queues.

    Acie Lumumba Chronicles How His Business Collapsed.....Dishes Out Advice To Start-up Businesses-iHarare

    After a year of using jerry cans, he revealed that he moved on to use drums instead.

    After a year in business, he finally got his first investor who chose to invest in his company.

    With a new investor, Acie Lumumba’s business started to boom. He revealed that his fuel business started to attract rich clients.

    He said more money started to trickle in as more rich clients started to buy fuel from his company. He revealed that the life of partying hard began then.

    After enjoying good business for a while, his business started to sink in November 2020. Every time he got investment he blew it and this caused his business to crumble.

    By January 2021, his business had completely collapsed and he had to rebuild his business all over again. Meanwhile, in February it emerged that his business lost money and fuel worth almost US$200,000 to two of its employees: 31-year-old Tatenda Maredza and 26-year-old Malcolm Dodo.

    To end his short story, Acie Lumumba went on to share some of the life lessons he learned after his business collapsed.

     

     

     

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    How to Find the Best Sourcing Partner For Your Business

    Best Sourcing Partner For Your Business

    Product sourcing is the process of locating things that you can sell at a profit. When many individuals think about product sourcing, they envision purchasing a product at the cheapest price.

    Goods sourcing, on the other hand, is more than just getting the cheapest product. Product sourcing entails ensuring that the product meets your requirements in terms of price, quality, and quantity.

    Even though product sourcing may appear to be straightforward, it is one of the most difficult activities for most importers, manufacturers, retailers, and e-commerce firms to complete it efficiently and effectively. A good deal may not necessarily be of the quality that you require. There can be a lack of compatibility with both your firm and the manufacturer.

    To avoid this, follow the tips discussed in this article and ensure great success for your business.

    Source: Unsplash

    Need for Product Sourcing

    Before learning how to choose a partner, it is important to understand the need for one. This can help you determine the importance of product sourcing and make you select it more seriously. A sourcing partner can help you in the following fields:

    Analytics

    In order to make the best purchase decisions, analytics are crucial. A sourcing partner helps you to keep track of your purchase needs and analyses the information to help you make the best decisions. Reliable data and the ability to interpret statistics are the foundations of successful businesses.

    A sourcing partner can also build a systematic purchasing strategy that is in line with your business objectives by understanding your supply demands.

    Savings

    One of the main reasons why so many businesses use a sourcing partner is the quick savings they frequently experience. A procurement partner will benefit from lower prices as a result of bulk purchasing. The analytics ensure that the company is not overstocking or understocking supplies. They can also spot possibilities in the supply chain that might otherwise go unnoticed.

    Planning

    Product sourcing develops the best procurement strategy for your company. A company must understand the importance of strategy and planning. Supplies must be purchased and delivered to the appropriate locations at the appropriate times, at the lowest possible cost, and from the best possible sources. As a result, the company will be able to deliver excellent service to your customers and visitors.

    Source: Unsplash

    Tips For Finding Best Sourcing Partner

    One alternative is to work with a product sourcing firm that has a presence in the local market, product knowledge and can bring value when it comes to managing suppliers from development to shipment. Here are a few qualities that are important for an ideal sourcing partner.

    They Must Be Familiar With Your Field

    An experienced sourcing firm will have experience in a wide variety of fields. If they don’t understand your product line, production procedure, or quality requirements, critical steps could be overlooked. The ability to pool resources and expertise is one of the most significant benefits of working with a sourcing firm.

    Have Effective Communication and Customer Service

    In order to communicate vital production information quickly and effectively, it is important to find a reputable global sourcing firm. This includes the customer, global sourcing firm, and manufacturer. Improvements in project management benefit all parties involved, as they allow the client to make informed decisions about their manufacturing endeavor.

    Well Placed Offices

    When choosing a product sourcing company, take advantage of the company’s presence in the industry. It’s crucial to have offices and people who can support and work closely with these vendors. Because of the increased costs associated with transportation and other factors, this is particularly important for quality control and assurance.

    To make the best decisions, it’s important to know where your products come from and how far they are from your suppliers.

    Have Credibility and Required Certifications

    The product sourcing firm you choose should have a good reputation in the industry. It is recommended to investigate their past clients, social media, professional profile, and individual employees. For example, if a furniture business with storage facilities around the world needs the raw materials to be sourced from different continents, honesty and trustworthiness are essential, as is the ability to obtain client references to aid in due diligence.

    Due to their low priority, many buyers ignore supplier quality certificates. If you are looking for sourcing specialists, we recommend you to check out www.matchsourcing.com.

    Have Excellent Product Quality

    A good firm doesn’t have to be the one that offers the lowest price. For quality assurance, you’ll need to visit the company’s factory or facility. In order to verify the quality of the product, regular quality inspections are required even after an agreement has been signed and sealed.

    Remember that poor product quality affects the entire chain. Returns will be necessary when you receive substandard products, which will consume resources and slow down your manufacturing. Here, it’s best to choose with a company having a track record of delivering quality products. Referrals appear to work best in this situation.

    Conclusion

    Successful collaboration with a product sourcing company is not that tough. You just have to ensure that the organization you use should have a proven track record and years of expertise. Your business relies on getting the things you need at the right price, in the right quality, and on time. This can be achieved by leveraging the experience and expertise of a product-sourcing company.

    For marriage, family, love, job/promotion. Goodluck in your business/lottery, court cases, diseases and other Spells kindly call Kiwanga Doctors on +254 769404965 or >>>> CLICK HERE.

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    5 Core Responsibilities of Customer Service

    customer service

    5 Core Responsibilities of Customer Service

    Customer service is a critical part of any business. The success and profitability of your company depend on how well you respond to the needs of current and potential customers. It’s important to make customer service a top priority, because happy customers will keep coming back for more, and they’ll tell their friends about their positive experiences with your company as well. For instance, Spectrum customer service offered by the Spectrum telecommunication company gained value because of their customer service. 

    Every business is responsible for the quality of the product or service it provides. As a customer, you might not realize that your favourite brands are employing an army of people to make sure you’re satisfied with their products and services. These employees are called customer-service representatives (CSRs).

    Customer service is about more than just answering questions and solving problems. It’s also about providing information to customers, following up with them after they make a purchase, and making sure that the customer feels valued. Here are 5 of the most important responsibilities of customer service personnel. We hope these tips have been helpful! If there is anything else we can do for you, please let us know by visiting our website today.

    Solve customer concerns 

    As a customer, when you are investing in a product or a service and you face issues with it, you expect a positive response from the company or business in which you have invested. The role of customer service is to help customers who are facing issues or problems, it does not necessarily mean that it should be a technical issue, you have to assist the customer even if they have confusion.  

    The main role of customer service is to assist the customer who is in need and wants to be heard. You need to  assist the customer right away when a customer is in trouble with your service.

    Trace customer behavior 

    One of the most important roles of customer service is to note down the behavior of the customers and create an environment that is related to the needs of a customer. When you note the behavior of your customers, you are aware of the expectations of your customers, and you  can meet them in a better manner.

    Create relevant FAQ

    There are many commonly asked questions and queries by customers, you can note the questions that a customer usually asks and update them according to recent changes. One of the core responsibilities of a customer service department is to maintain an elaborated and easy-to-understand FAQ for all their customers. FAQ is important because a customer gets most of his answers by reading it.

    Track customer feedback 

    All the smart businesses around the world adopt a customer-centric approach and pay focus to the needs and requirements of the customers. Customer service needs to track the feedback that is provided by their customers and make necessary amendments according to that. This will make your customer feel heard and valued. You need to give a sense of relief to your customers and they should be able to trust your services. 

    Plan according to customer reviews 

    In the competitive world of customer service, it is important to be as efficient as possible. When you have a team of employees working together to provide good customer service, your customers will feel valued and they will respond positively to your service.

    Conclusion 

    We hope this article has given you a better understanding of the importance of customer service in your business and how to create a great experience for customers. The main pillar of success for any company is its customer service.

    For marriage, family, love, job/promotion. Goodluck in your business/lottery, court cases, diseases and other Spells kindly call Kiwanga Doctors on +254 769404965 or >>>> CLICK HERE.

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    PointPay: Staking will completely replace mining

    Staking will completely replace mining

    PointPay: Staking will completely replace mining

    According to Staked, as of Q2 2021, the market capitalization of all coins locked in stake was $359 billion. The number of cryptocurrencies in the market operating on the algorithm PoS (proof-of-stake) according to PointPay already exceeds 24%. The annual payout for staking in 2021 exceeds $12.5 billion. PointPay believes the market will gravitate more toward the PoS consensus algorithm than cryptocurrency mining. Much of the momentum will be driven by Ethereum 2.0, whose transition to PoS is expected to be completed in 2021. 

    PointPay: Staking will completely replace mining
    PointPay: Staking will completely replace mining

    “Globally, the growing interest in staking as an asset profit and the PoS consensus algorithm as a way to validate transactions has emerged against the backdrop of the mining crisis. Several factors have shaken the usual state of affairs. First, the rise in the cost of mining equipment, its maintenance, transportation and electricity spent on mining, led to a decrease in the profitability of classic mining. The statements of China, relocation of mining farms, huge electricity consumption by miners – all this led to the statements that mining on the equipment is not environmentally friendly. Recall the claim made by Elon Musk, which collapsed bitcoin by 15%, that the way bitcoin is mined is bad for the environment. It was certainly hype, but it fueled interest in staking as a more environmentally friendly way to mine coins and validate,” says PointPay CEO Andrei Svyatov.

    According to PointPay CEO, the locomotive was the Ethereum network, which announced a full transition to the PoS consensus algorithm and rejection of mining. From the end of 2021, validators rather than miners will validate transactions. Theoretically, the higher the validator’s balance, the more chances he has to confirm a block and get rewarded for it. Ordinary investors, on the other hand, who cannot afford to buy the amount of assets necessary for validation, get their benefits from staking. Frozen assets yield stable interest – on average, from 7.5% p.a. on most cryptocurrencies. Today, most DeFi projects are based precisely on the PoS algorithm – such blockchains already occupy more than 24% of the market as of 2021. There are different combinations of technologies that allow users to perform staking – but the main point is the same – they are greener, simpler, the network commission is lower, and the income from owning a cryptocurrency, combined with staking attracts many users.

    All of this has led to the total number of cryptocurrencies in staking in 2021 increasing by more than 30 times compared to 2020. Staking implies that cryptocurrency assets are frozen for a fixed term at a fixed interest rate. As a rule, the interest is paid daily. This gives stability to asset holders and opens up prospects for cryptocurrency growth.

     

    According to PointPay, the average staking yield among the first 30 cryptocurrencies ranges from 7.3% to 7.5% annually. At the same time, there are blockchain projects whose annual yields exceed 30% – these are PXP, KAVA, LPT – but these are rather exceptions to the rule. The annual payout for staking in 2021 will be about $12.5 billion.

    “I would also like to note the trend that cryptocurrencies running on the PoS algorithm have been losing in price more slowly than those that adhere to the PoW consensus. During the last market correction the difference reached 10%,” – says Andrey Svyatov.

    In addition to the green validation process and mining alternatives to deposit – staking is a great way to increase the rate of cryptocurrency. After all, coins in a stake are frozen and do not participate in circulation, a deficit of a certain cryptocurrency is created, which positively affects the rate.

    “We hooked up the staking program immediately after PXP listed on the exchange. This will help give long-term investors the opportunity to earn more. And in doing so, we reduced the interest on the PXP deposit. About 15% of our investors joined the staking program right away,” said Andrei Svyatov.

     

    Top 10 Coins by Capitalization and Staking Volume

    Project Ticker   Market capitalization      Profit % per annum Staking share of the total issuance
    Ethereum                                            ETH 247 billion 6.8 % 5.1 %
    Cardano ADA 42 billion 4.6 % 71.7 %
    Polkadot DOT 15 billion 14 % 62.0 %
    Solana SOL 8 billion 7.4 % 67.7 %
    Polygon MATIC 7 billion 14.9 % 35 %
    Tron TRON 4.6 billion 3.3 % 27.0 %
    EOS EOS 3.7 billion 3.0 % 48.3 %
    Cosmos ATOM 3.1 billion 9.9 % 70.9 %
    Algorand ALGO 2.6 billion 5.8 % 55.8 %
    Terra LUNA 2.5 billion 11.5 % 36.2 %

     

    Source: Staked, PointPay

     

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    Kuda Tagwirei Donates Houses Worth US$300 000 To Dynamos, Highlanders Football Legends

    Jonathan Moyo Exposes Tagwirei

    Kuda Tagwirei Donates Houses Worth US$300 000 To Dynamos, Highlanders Football Legends

    KKuda Tagwirei Donates Houses Worth US$300 000 To Dynamos, Highlanders Football Legends

     

    Businessman Kuda Tagwirei has donated houses worth US$300 000 to three Dynamos and Highlanders football legends: the late George “The Mastermind” Shaya, Moses Chunga and Madinda Ndlovu. Shaya’s family will receive a house worth US$120 000 while Chunga and Ndlovu will receive houses worth US$90 000 each.

    The business tycoon announced the donations at the Meikles Hotel in Harare on Tuesday. Tagwirei was at a function where his company Sakunda Holdings, unveiled a record sponsorship deal for the country’s oldest and most popular clubs worth US$890 000-a-year per club for the next three years.

    The amount will cater for the club’s operational and running costs as follows:

    • $420,000.00 – Salaries and allowances
    • $200,000.00 – Bonus on winning PSL Title
    • $150,000.00 – Bonus on qualifying for Champions League
    • $60,000.00 – Sign – On Fees
    • $60,000.00 – Operational/Admin Expenses

    During the ceremony, Deputy Minister of Youth, Sport, Arts and Recreation, Tino Machakaire implored Tagwirei to do something about the welfare of retired soccer legends. Within 5 minutes, Tagwirei pledged three houses to the three football icons.

     

    KKuda Tagwirei Donates Houses Worth US$300 000 To Dynamos, Highlanders Football Legends
    Kuda Tagwirei and Deputy Minister Machakaire: Kuda Tagwirei Donates Houses Worth US$300 000 To Dynamos, Highlanders Football Legends

     

     

    He said he is going to give the Shaya family a house valued at US$120,000 as a gesture to thank them for how they inspired Zimbabweans during the pre-independence days. Shaya passed away at his home in Glen Norah A last month at the age of 77. The five-time Soccer Star of the Year had been battling illness for some time.

    Tagwirei also said he is going to donate a house worth US$90 000 to a former player from each club: Moses Chunga for Dynamos and Madinda Ndlovu for Highlanders. The businessman explained that soccer players are iconic and should be celebrated in their communities.

    The petroleum tycoon also announced that coaches and captains from the two clubs would receive brand new cars. Ford Rangers for the club captains and Ford Everests for the club coaches.

     

    Sakunda Holdings, through its subsidiaries, engages in energy, logistics and trading businesses in Zimbabwe. It imports and supplies fuels, such as diesel, petrol, renewable biofuel and kerosene, into Zimbabwe, Malawi and Zambia; operates and franchises petrol filling stations in Zimbabwe; distributes commercial fuel products for mining, transport, agriculture and industry; and distributes lubricants and chemicals in Zimbabwe. It engages in trading a range of commodities, from fuels to minerals and agricultural products, and procures fuels and markets it to other oil companies and bulk fuel buyers. It serves government, parastatal and corporate clients.

     


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