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that will make great leaders in the future.
The story of Blessing Sakupwanya, the 30-something founder and executive director of the Centre for Economic and Social Policy Analysis is yet to be told. The recently set-up CESPA is a multi-sector focused information and research firm that is incorporated in Zimbabwe.
The firm collects, standardises and disseminates relevant corporate financial and market data, as well as news and analysis for industries, non-governmental organisations and the Zimbabwean Government.
What drove the young man to push the bar and enter such a risky venture, at least compared to the supposed security of a job? The answer is simple: Ambition.
“We are starting small, obviously, but our long-term ambition is to become Zimbabwe’s top consulting and advisory services firm, especially with regard to the financial services sector,” says Mr Sakupwanya.
That might well be because his views on the country’s financial services sector seemingly break rank with the contentions of many economists.
“I have heard it often said that the local financial services environment is bloated; for me it is hardly over-banked. An over-banked system means that cash is awash in that economy, and in Zimbabwe at the moment we are suffering from an illiquid market,” he said. “It is to this extent that players in our banking sector should adapt to the environment and the prevailing macro-economic fundamentals. Note for instance that presently around eight million people of the total Zimbabwean population have the potential to save money, and of that figure around 65 percent are currently not utilising banks for savings due to high unemployment levels.
“The remainder, although employed are constrained by low disposable incomes, which means the banking sector has an inherently weak deposit base.
“It is therefore incumbent that banks review their product and service offering. For me micro-lending is where the money is at the moment. People want money. The bank that is going to extend loans at low interest and simultaneously effectively manage risk will fair best,” said Mr Sakupwanya.
He has indicated that CESPA could soon take the micro-finance route, taking inspiration from Mr Nigel Chanakira’s Kingdom Bank, which essentially began as a micro-finance institution.
He comes into the role of executive director of CESPA emerging from considerable banking experience in a number of the country’s financial institutions.
Blessing began his career in financial services at CFX Bank Limited in October 2003 where he remained until February 2007, after which he moved to Metropolitan Bank Ltd in March 2007 until August of the same year. In September 2007, he moved to MBCA Bank Ltd where he was engaged as a bank economist until August last year.
He then moved to TN Holdings in October where he stayed until January. Mr Sakupwanya is affiliated to a number of organisations namely: the Risk Flow Institute South Africa as a patron board member, the Zimbabwe Economic Society, and the Trade Advocacy and Economic Affairs in the Zimbabwe National Chamber of Commerce.
He is also the vice-chairman of Economic Affairs, Taxation and Trade Development in the Confederation of Zimbabwe Industries.
Mr Sakupwanya has extensive academic and research, consulting and corporate experience acquired at some of the leading academic institutions and many companies in Zimbabwe and in the region.
Together with his partner Professor Fungisai Nota they have published in leading journals such as the China-USA Business Review Journal, American Journal of Economics and Sociology; Economics of Peace and Security Journal; Journal of International and Comparative Education and the Encyclopedia of Economic Geography to mention a few.
He is grateful for the opportunities that God granted him during the course of his life and his career development.
“I remember in my economics class I was not the brightest individual, but I thank God for all the opportunities that have come into my path and the way that I have managed to utilise them.
“I grew up in the rural areas and I believe I have come a long way up to this point. What I have also learnt is that if you want to develop as a person and in your career, it is important to value everyone,” he said.
Blessing attended primary school at Domborutinhira Primary School in Honde Valley between 1987 and 1993.
He then went to Murewa High School for his secondary education between 1994 and 1999, and proceeded to the University of Zimbabwe where he completed his studies in economics in 2003.
“Growing up I never imagined I would become an economist, however in college my professor then Tony Hawkins encouraged me to take up economic analysis because he said I was a very analytical person,” said Blessing.
Born in a family of three and he is the first born and still very single but attached, he says.
He considers himself a religious person and attends the Faith Ministries church in Zimbabwe.
His taste is for simple traditional Zimbabwean delicacy. He enjoys playing golf during the weekends, if only he could find the time for it.
“I have learnt a lot from Mr Tawanda Nyambirai, which is that if you want to establish something really big there are things you need to forego especially in terms of social life.
“I however, have to make sure that I always make time for my family,” he said.