New investment advisory formed
BUSINESS REPORTER
A local consortium of businesspeople has formed an international banking and finance advisory firm, Bard Santner Markets, to help Zimbabweans unlock value in their assets—most of them constituting dead capital—outside the country and access new lines of credit.
The Harare-based company is led by a local business consortium which includes Senziwani Sikhosana, Tatenda Hungwe, Alfred Mthimkhulu and international finance expert Vinod Bussawah from Mauritius.
It has already started trading and work at its new offices in Harare’s central business district.
Sikhosana and Bussawah worked for various banks in Zimbabwe and Mauritius respectively, while Hungwe and Mthimkhulu are experts in wealth management and economic issues.
Hungwe, Bard Santner Markets executive director, said securitising internationally-held assets is critical as it would allow capital-seeking individuals and corporates to borrow offshore in markets where the macro-economic fundamentals, especially interest rates, are stable and repayment terms favourable.
“Zimbabweans are sitting on a lot of dead capital regionally and abroad, that is assets that are not working mainly in the form of freehold property,” he said.
“Through our network of international banks and financial institutions, we have arrangements in place to securitise and unlock value from those assets.”
Hungwe said his company will offer new products and services which are not available in the local market, while helping clients access cheaper capital in foreign banks, including in neighbouring South Africa.
“Capital is generally scared and timid, but we have found a way to make it feel safe and comfortable in our home market, Zimbabwe. It takes having wide financial networks, the right relationships in place and looking at things differently break new ground in such areas.”
Unlocking lines of credit and facilities for individuals and corporates offshore is key.
“There is a lot of scared capital that wants to participate in Zimbabwe’s opportunities but is hindered by perceived country risks,” he said.
“We can unlock offshore lines of credit for corporates and credit facilities for individuals through our network of international banks and financial institutions.”
Bard Santner Markets was licensed and regulated by the Securities and Exchange Commission of Zimbabwe.
It is an investment advisory with specialised focus on international banking and financing.
Its areas of expertise are: securitising internationally held assets and unlocking lines of credit and facilities for individuals and corporates offshore.
Zimbabwe has a well-developed financial services sector, with banks, micro-finance institutions, and stockbroking firms, among other entities.
