Mamvura’s Market Minute
The Queen of NicozDiamond, Grace Muradzikwa, held what was possibly her last briefing on Tuesday as the managing director of Zimbabwe’s largest short-term insurer. This formidable and likeable personality will be missed.
Her passion for the group is abundantly obvious at her briefings and it is clear that she tried to arrange her succession before the majority share of NicozDiamond was acquired FML, led by an equally dominant personality, who believes the FML brand is king. Certainly it is a whole lot better than “Afre”, and we will reserve remarks on the personality that lorded it over this group.
As indicated in his column of December 8, 2017 the de-listing of NicozDiamond and Colcom would reduce the number of active companies on the ZSE to 57.
However, the comment this week is not about how the ZSE continues to shrink back to 1980s levels, but about brand.
Word is that “FML Insurance” is to replace NicozDiamond, an established brand and you would question this when it happens as it is certainly a big waste of money.
Colcom shares have now been swapped for Innscor, but has Innscor decided to undertake a rebranding exercise and call the company “Innscor Meats”, Colcom is king.
There was a good deal of this nonsense during the hyperinflation period when a number of executives with large egos decided the continent needed to be reconquered and so inserted “Africa” in front of their name.
All but African Sun have reverted back to their name, and as pointed out by Mamvura on so many previously occasions, the core operations of the company are “Zimsun” anyway. The only people who won out of this exercise were the PRs and substandard marketing peeps we have in this country.
Which brings Mamvura to the re-branding of MBCA to Nedbank. Without a doubt his is the most inane and amateurish campaign by a corporate in recent years.
“A new level of banking”? “Money is not your bank balance”? Money is not banked is a more banal and thoughtless campaign? You have to wonder if anyone in Mzansi got to see the adverts.