The Iron Lady of Corporate Zimbabwe

WOMEN are still trying to find a voice and a footing in the male-dominated business universe, but they are still lagging behind. Though accounting for more than half of the country’s population, according to the Zimbabwe National Statistics Agency, women are still not proportionally represented in industry and commerce.

Of all the listed companies on the Zimbabwe Stock Exchange, only one – NicozDiamond, which is headed by Mrs Grace Muradzikwa – is led by a woman MD or CEO. One woman who has made a mark in the corporate world is Dr Eve Gadzikwa, the director-general of the Standards Association of Zimbabwe. She is also the chairperson of both the ZSE and the Institute of Directors Zimbabwe. Last week, our business reporter Enacy Mapakame engaged Dr Gadzikwa on the challenges women face in the corporate sector and the role of SAZ in improving competitiveness of local manufacturing.

Q: I take it being the director-general of SAZ is an exacting and demanding role. As a woman how do you think you are faring in that role?

A: I am faring well and this has been my seventh year. I wouldn’t want to say I am a failure, I think I have been a success. I believe it has been a learning curve and I have the benefit of experience. It has been an exciting journey for me, every day is different with its own challenges. You wake up with a rich source of experience from the challenges you face operating in an environment like ours.

I see myself as a mentor, teacher, a coach, a business leader and captain of industry. If I am to be fair to myself, I have done very well.

The major driving force has been being a leader of integrity, making sure that I uphold excellence, quality standards and good corporate governance.

Q: You hold three key influential posts as director-general at SAZ, and chairperson at both IoD and the ZSE. Obviously, these are demanding roles. How did you land the three posts, and how do you manage them all?

A: I did not set out to become a director or chairperson of these organisations.

It came with the territory; there is always succession in an organisation which I embraced when the time came. For instance, at IoD I was the deputy chairperson and took over the role when the chairperson stepped down.

My role at IoD has been fundamental at equipping me for my appointment at the ZSE.

During my first meeting at the ZSE, there was no chairperson and (I) had to be appointed that day, and the post landed on me. It’s important to note all these three are intertwined with emphasis on upholding business ethics, standards, transparency and accountability.

To sum it all, they are about business excellence and upholding good corporate governance, ethical standards and transparency.

At SAZ, companies come to be assisted so that they can be competitive and have quality standards. We guarantee that when a company is certified, it will produce good quality products and services.

At ZSE, which is the barometer for our economy, investors want fairness and transparency, protection of minority shareholders. And if a company is listed, it is required to comply with certain listing rules. While at IoD it is about good governance.

Q: What’s the secret to your success in business?

A: I am determined to participate in the Zimbabwean economy, not only as a woman but as a leader. What’s been driving me is how I can make Zimbabwe participate in the global economy. Zimbabwe gives you so many options for learning different business skills.

You learn how to be a business leader through practice and by solving problems. I believe the country needs problem solvers, decision makers and people with courage to say things that may be difficult to talk about, like corruption.

As Zimbabweans, we need to accept where we are to be able to move forward or correct the mishaps. We have to do this ourselves as Zimbabweans, the world will do no favours for us.

Investors need assurance their money is safe and therefore it should motivate you to ensure quality is adhered to and that the ills in the economy are corrected. That is the way we can improve even in attracting FDI, because investors want to put their money where there is security and guarantee (of) good returns.

Q: With the exception of NicozDiamond, none of the listed companies are led by a woman MD or CEO. As ZSE chairperson, do you think Zimbabwe has done enough to create systems that allow the elevation of women into leading business, economic and political positions? If not, what needs to be done?

A: Our Constitution talks of the rights of women and their empowerment. But I think each of us needs to understand the value that has been placed on women through the provisions of the Constitution.

The education of women needs to also focus on empowering them and improve their ability to take leadership roles. This should be done holistically, not just at corporate level.

Women need to be taught how to lobby, to advocate for what they want. There should be programmes that help women put ideas in a structured manner, enable them to package their ideas and sell them. I think we need to do more to help uplift each other.

At the ZSE, for instance, we have investor programmes where we are training local investors so that they can be able to participate. That is why we established the Zimbabwe Emerging Enterprise Market, which is the alternative market to the big bourse.

I believe in inclusive business by creating room for SMEs, given their participation in the economy.

Q: What can you say are the greatest challenges for women in leadership positions? Have you ever encountered resistance based on gender from your subordinates? How do you handle such situations?

A: The biggest challenge for women is lack of self-esteem, which is a problem for many. A lot of women in positions of high authority suffer this problem. They are good, have great ideas, but lack the confidence. I am running a mentorship for success programme to help young leaders because leaders are not giving up their time to train the young leaders.

Q: Many women have spoken of the sensitive challenges of being a mother, wife and leader at work. Now, I already know you are a leader at work, if the mother and wife description suits your profile also, can you share with us how you manage those roles without neglecting the other?

A: For me there is need to balance being a wife, a mother, businessperson and church duties. In all these areas, everyone would want a piece of me.

The secret is to be honest with yourself and having support from work and family because they are ideal in balancing between all the roles.

The other thing is to have good support in the work place. I have an excellent PA.

You also need to surround yourself with good managers, whom you will share ideas with. Remember, it’s not all about you as the leader, listening to others is crucial; that way you unlock value through the different ideas that come out of them.

The hardest part will be to weed out the bad apples, but it has to be done.

Q: What is the most difficult decision that you have had to make and implement as a leader in business?

A: Stakeholder management at the ZSE is one tall task. You need to deal with management, stock brokers, regulators and the ZSE is a regulator in itself. There is need to understand all these stakeholders.

There is also need to understand that ZSE as a regulator has requirements it should meet as well as create confidence in investors. The general public also has expectations which we should meet. They need to know what is going on; once an institution loses integrity then people lose confidence in it. Right now Zimbabwe suffers confidence issues with world rankings not pleasing.

So, as a country, we must work towards improving our products, ease of doing business and competitiveness so that we can restore confidence both locally and internationally.

Q: What is the role of SAZ?

A: Its role is to assist companies improve competitiveness and comply with international standards and protect consumers.

We set standards, we provide certification, testing and also provide training for consumers.

Q: The SME sector is making a huge contribution to the economy. What has been the uptake of certification by SMEs?

A: This is quite an interesting area. It has been a challenge to make them work towards certification, but there is an improvement especially with those into bottling water, security companies and honey and peanut butter producers.