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Zimbabwe Report

Marcopolis presents the Zimbabwe Report focused on topics such as economy, investments and doing business, featuring interviews with Zimbabwe's leaders. The sectors under review in this issue are agriculture & agribusiness, banking & financial services, construction & real estate, hospitality & tourism, industry, services, telecom & IT, and many more. 

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InterviewsMarch 26, 2024

Munyaradzi Nyamuda on ABSP: Data-Driven Solutions for Digital Transformation in Zimbabwe

Munyaradzi Nyamuda, Business Development Manager at ABSP
Munyaradzi Nyamuda, Business Development Manager at ABSP (African Business Solutions Provider)
Written by Sandra Francisco
Published: March 26, 2024

Interview with Munyaradzi Nyamuda, Business Development Manager at ABSP (African Business Solutions Provider)

Could you give us a quick summary of ABSP's background?

Our company, founded around five years ago, emerged from a convergence of like-minded individuals passionate about the potential of digitalization. Back then, the discourse surrounding digital transformation was robust, yet there seemed to be a gap in understanding among many. Recognizing this, we set out on a mission to demystify digitalization and its implications for businesses.

Our journey began with earnest discussions within our circles, where we realized that actions spoke louder than words. Hence, we made the bold decision to leave our conventional roles behind and actively engage with potential clients, articulating our vision of digitizing their operations. Although met with skepticism initially, our perseverance paid off, as some forward-thinking organizations opened their doors to us, marking the inception of our enterprise.

Central to our offerings are software development services, tailored to meet the unique needs of our clients. Over time, certain projects blossomed into full-fledged products, prompting us to explore avenues for market expansion. Moreover, our commitment to facilitating digital transformation extends to providing comprehensive strategies aimed at optimizing business processes through technology integration.

In addition to software development, we specialize in website development, taking a holistic approach that emphasizes not only aesthetics but also functionality and analytics. We believe in harnessing the power of data to drive decision-making and enhance user experience.

Furthermore, our suite of professional services encompasses ICT audits, leveraging our internal expertise to offer valuable insights and recommendations to our clients. Whether it is developing proprietary products or assisting clients in realizing their innovative concepts, we pride ourselves on being at the forefront of technological innovation.

Our journey in digital marketing has equipped us with a deep understanding of content creation, analytics, and campaign optimization. Be it through email marketing, leveraging social media platforms, or other digital channels, we have implemented strategies that resonate with our target audience, fostering meaningful engagement and driving growth. In essence, our company is dedicated to providing holistic technological solutions, driven by innovation and client collaboration.

What about your competitive advantage?

When we started, we recognized that understanding would be our competitive advantage, and we still hold firm to that belief. We strive to remain ahead of the curve, positioning ourselves as influencers guiding companies towards leveraging technologies effectively. Our approach is grounded in objectivity and purpose, ensuring that every technological endeavor serves a clear and meaningful objective.

For example, while many may have websites, we challenge the status quo by asking crucial questions. What purpose does the website serve? Who is engaging with it? By reframing the conversation, we emphasize that a website can be more than just a digital presence—it can be a revenue-generating asset. We advocate for strategic planning that envisions the website as a significant contributor to the business' bottom line, aligning with evolving digital trends and market demands.

Our strength lies in our ability to communicate this vision effectively to industry leaders, urging them to adopt a purpose-driven approach to technological investments. We understand that the responsibility rests on us to champion this perspective, driving the market towards a more strategic and future-oriented mindset.

In essence, our competitive advantage stems from our unwavering commitment to purposeful innovation and our ability to articulate the value of technology in line with broader industry trends and goals.

Could you discuss some of the projects you have worked on, either in the past, or one you are currently involved in?

We have had the opportunity to collaborate on numerous compelling projects. One notable endeavor involved partnering with one of the largest hotels in Harare, Zimbabwe, where we implemented a comprehensive quality management system tailored to their specific needs. Additionally, we collaborated with a prominent financial services conglomerate, where we spearheaded the automation of their entire procurement process across various sectors, including banking, asset management, and insurance.

From these initiatives, we derived a flagship product called "Trade Data," an innovative procurement automation system. Currently, we are in the process of refining and expanding this product into a multi-tenancy platform, transitioning it into a fully-fledged Cloud-based service offering. Trade Data facilitates seamless collaboration between businesses and their suppliers, fostering a symbiotic relationship where information exchange is streamlined and mutually beneficial.

For instance, imagine a scenario where a company like Delta specifies its procurement needs for a particular quarter. With Trade Data, this information is instantly accessible to relevant stakeholders, including banks and suppliers, enabling proactive planning and coordination across the entire supply chain. Our goal is to create a dynamic ecosystem where finance, logistics, and support seamlessly converge to drive operational efficiency and value creation.

Currently, our focus lies on rolling out an initial iteration of Trade Data, prioritizing key functionalities such as supplier onboarding, management, and integration. We anticipate this phase to be completed within the next two months, marking a significant milestone in our ongoing journey of innovation and collaboration.

Are you actively seeking investors, and if so, what message would you convey to potential investors? Could you also elaborate on what you have to offer investors and your openness to different types of investments, such as debt, equity, or market shares?

As we engage with potential investors, our focus centers on two primary aspects. Firstly, we are open to offering a share of our business to investors. However, what is equally important to us is finding investors who bring more than just capital to the table. We are interested in investors who possess an established ecosystem, whether it is in telecommunications or finance, with a network that complements our objectives. For instance, if they have a branch network or an international presence, it aligns perfectly with our vision for facilitating payments on our platform and drives the growth trajectory we envision for our product.

Internationally, particularly within the African context, we see immense value in our system. By onboarding businesses onto our ecosystem, we gain valuable data insights into spending patterns, financial behaviors, and market trends. This data can revolutionize financial products, enabling innovative solutions such as credit offerings based on robust track records and metrics. We believe this not only benefits investors but also contributes significantly to the economy, not only in Zimbabwe but across the region.

Furthermore, we recognize the potential for consolidation within fragmented markets. While developed economies often thrive on integration with major corporations like Amazon, our focus is on consolidating various players onto a single platform, enabling comprehensive data analytics and insights. This approach appeals to investors who understand the value of harnessing data and fostering synergies across multiple sectors.

In summary, our pitch to potential investors revolves around unlocking immense potential and driving growth through strategic partnerships and data-driven insights. We are seeking investors who share our vision and are enthusiastic about the transformative impact our platform can have on businesses and economies alike.

What are your aspirations for the next three years? What are your medium-term goals and what do you hope to achieve during that time frame?

In three years, we envision a future where Africa embraces digital transformation uniquely tailored to address the continent's distinct challenges and opportunities. With Africa's diverse economic landscape, both macro and micro, there lies immense potential to develop solutions that optimize and leverage these circumstances.

Our vision is to create a digital ecosystem that facilitates trade in a manner that mirrors the speed, convenience, and efficiency seen in developed economies. We aim to unlock the full potential of African businesses by bridging the gap between technological advancements and the existing operational constraints. This entails addressing issues related to transaction speed, accessibility, reach, and efficiency, which may currently hinder businesses' growth.

By leveraging technology and innovation, we seek to transcend the isolated pockets of operations prevalent across African markets. Our goal is to unlock the untapped value inherent in intra-regional trade and economic interactions. For instance, while neighboring countries may engage in substantial trade with distant partners, there remains significant untapped potential for internal trade and transactions within the region.

We believe that by facilitating smoother and more efficient business operations internally, we can unlock new opportunities and markets for businesses while fostering innovation and adaptation. While this shift may necessitate changes and adjustments for some businesses, we view it as the necessary cost of progress and innovation in ushering in a new era of business practices and social dynamics.

In essence, our vision is to serve as the catalyst for transformative change in how business is conducted in Africa, unlocking new avenues for growth, collaboration, and prosperity across the continent.

ABOUT ABSP: African Business Solutions Provider is an IT and business professional services company that offers digital platforms, products and services, aimed at transforming the business models of its clients into digital, data-driven enterprises. ABSP operates as a private limited company and has offices in Botswana and Zimbabwe.

 

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