THE Zimbabwe Independent, the country’s leading business weekly, will next Wednesday launch its 2017 Quoted Companies Survey (QCS) which will gauge the performance of firms listed on the Zimbabwe Stock Exchange.
Running under the theme “Adapting to the New Normal”, the QCS will rate how companies weathered the storm in an environment where several others have either scaled down operations or closed shop.
Zimbabwe’s economy is floundering due to a decline in exports that has exacerbated the liquidity situation in the country.
“The Quoted Companies Survey, this year deviated from the ranking of the past five years, which just looked at performance of the companies regardless of sectors. However, as the economy enters a new normal, euphemistically referred to as Zimbabwe 4.0 (bond note era), we have reverted back to sectors,” said chief adjudicator Ranga Makwata.
“We think this will correctly capture the challenges which managers are facing, which are sectorally unique, and as such more meaningfully recognise the management teams that have, based on financial results, exceeded their counterparts, in the same sector.
The event, expected to attract business executives and other stakeholders, will be graced by Macro-Economic and Financial Management Institute (MEFMI) executive director for Southern and Eastern Africa Caleb Fundanga.
Before joining MEFMI, Fundanga had worked as Bank of Zambia governor between 2002 to 2011. Among the many accolades bestowed upon him during this period were: Central Bank Governor of the Year for Africa and Global Award by the Banker Magazine, a sister publication to the Financial Times of London in January 2007, Emerging Markets Magazine award of African Central Bank Governor of the Year 2007, which he received in Washington DC. In September 2007, he was also awarded the African Central Bank Governor of the Year 2008 by the Annual Meetings Daily of Nigeria.
Prior to joining the Bank of Zambia, he had worked as senior advisor to the president of the African Development Bank (1998-2002) and as executive director of the African Development Bank (1995-1998).
Fundanga obtained his Bachelor’s degree in Economics at the University of Zambia. He got his Masters degree at the University of Manchester in the United Kingdom and his PhD at the University of Konstanz in Germany.