UNIVERSITY OF ZIMBABWE
FACULTY OF COMMERCE
INDUSTRIAL ATTACHMENT LOG-BOOK
Name of Company
Central Africa Building Society (CABS)
Name of Student
Michael Bernard Ndakumareye
Student Reg Number
R175175L
Degree Program
Finance and Banking
Attachment Period
March 2019 – February 2020
Supervisor
Mr T Funani
TRAINEE SIGNATURE:
WORK SUPERVISOR’S SIGNATURE:
TRAINEE SIGNATURE:
WORK SUPERVISOR’S SIGNATURE:
CABS EXCHANGE CONTROL
Short summary
The Exchange Control department has delegated authority from the Central bank (RBZ) to facilitate and regulate all cross border transactions,
that is Capital and Current account transactions. The main objective of this function is to manage foreign exchange resources and to maintain
balance of payment so that the Zimbabwe economy benefits from its resources.
Critical Exchange control terms:
1.
CEPECS- Computerised Export Payments Exchange Control System, generally it is a system for processing all export documentation and it
is administered by RBZ. The export document types are explained in the table below:
Form Type/Name
SECTOR
PURPOSE
Form CD1
Real Sector-goods
For declaration of export of goods in CEPECS prior to Export
Shipment.
Form CD3
Transport Services
For declaration of road transport/ freight charges. Manual Forms
issued by authorized dealers prior to rendering services
Form TR1
Tourism Services
For declaration of non-consumptive tourism earnings. Consolidation of
cash receipts and deposits on monthly bases.
Form TR2
Tourism Services
For declaration of consumptive tourism (hunting) earnings,
Declaration of receipts for every hunting safari.
TRAINEE SIGNATURE:
WORK SUPERVISOR’S SIGNATURE:
Form GSD
2.
General Services
For declaration of earnings arising from rendering any other service
not specified above.
Acquittal – This is the discharge of export documentation upon receiving evidence of repatriation of export proceeds into Zimbabwe. The
export proceeds can be received through normal banking channels (Telegraphic Transfer) or as cash. The Authorised Dealer(CABS) is
required to pre-acquit the relevant Forms and submit to RBZ for final acquittal.
3.
Exchange Control Returns – These are reports submitted to RBZ in prescribed format and timelines advising the regulator of the
transactions processed by the Authorised Dealer. There are various types of returns that include, but not limited to, EC Form1, EC Form
Exporter Retention and EC Form State Revenue.
4. Exporter – Any person or company in Zimbabwe who takes or causes goods to be taken out of Zimbabwe. The goods vary from
manufactured goods, agricultural products or mining products.
5. Taxidermy – The process of preserving animal skin and processing them into lifelike appearances.
6. Dealing – This refers to the buying and selling of foreign currency
7. Nostro – This is an account held by an individual, company or authorised dealer with funds domiciled outside Zimbabwe.
TRAINEE SIGNATURE:
WORK SUPERVISOR’S SIGNATURE:
KEY
CEPECS…………………… Computerised Export Payments Exchange Control System
DMS……………………… Documents Management System
T24…………………………. Temenos 24
INCOTERMS…………….. International Commercial Terms
CRM……………………….. Client Relationship Manager
MMCZ…………………….. Minerals Marketing Commission of Zimbabwe
RBZ……………………….. Reserve Bank of Zimbabwe
Form CD1/CD3…………… Customs Declaration Form number 1 and 3
TRAS1/ TRAS2 …………… Tourism Receipts Accounting System form number 1 and 2.
Form GSD…………………..General Services Declaration Form
TT…………………………. Telegraphic Transfer
EC Form………………….
Exchange Control Form
FCA………………………. Foreign Currency Account
TRAINEE SIGNATURE:
WORK SUPERVISOR’S SIGNATURE:
DATE
MARCH
WEEK 1
WEEK 2
WEEK 3
TRAINEE SIGNATURE:
DESCRIPTION OF WORK DONE
 Orientation and introduction to all departments as
well as the induction training.

Familiarisation with staff and the complex

Training on how to operate the RBZ CEPECS and
DMS system

Training on how to use T24 application(Core
banking application)

Processing of normal sale Forms CD1 for
corporates
TRAINEE COMMENTS& RECOMMENDATIONS
 No duties were initiated during this period since the
introduction to all departments took place.
 No problems were encountered during this period.
CHALLENGES FACED
 Difficulty in grasping some of the process flows, firm’s
activities and customs
MEASURE IMPLEMENTED
 Noted down the process flows as I was being told so
that I could remember how to do it when I was
practicing on my own,
WHAT I LEARNT
 The training to operate RBZ systems made me have the
initial feel of being part of the team as I was now aware
of the processes and what the department is all about
CHALLENGES FACED

When processing the Forms CD1, there were specific
input Formats required as per each Form CD1
WORK SUPERVISOR’S SIGNATURE:
application with various contract terms eg. Incoterms,
according to the nature of the client which made it
difficult to process the FORM CD1 timeously.
MEASURE IMPLEMENTED

Referred to the system user manual and also previously
processed Forms CD1 to check on how they were
captured.
WHAT I LEARNT
All exports of goods require to be accounted for
through processing of Export documentation.
 There are various INCO terms to exports which parties
can agree to eg Free on Board(FOB), Cost and
Freight(C&F)
CHALLENGES FACED

WEEK 4

Communicating with clients as a reminder
concerning overdue/outstanding Forms CD1 which
would be due for acquittal.

Some of the clients had not updated their contact details
which they had changed which led to us sending emails
to inactive email addresses.
MEASURE IMPLEMENTED

We called the client to give us their active email
address and also inquired from the client’s CRMs or
branches for updated contact details.
WHAT I LEARNT
TRAINEE SIGNATURE:
WORK SUPERVISOR’S SIGNATURE:
All export proceeds should be received within 90 days
after export unless an extension is applied for.
 Some clients would have already got payment for their
export and the reminders we send ultimately serves the
purpose of initiating the clients press their customers
for outstanding funds so that they acquit their export
documentations
TRAINEE COMMENTS& RECOMMENDATIONS
CHALLENGES FACED
 The registration process required about 3-5 working
days and some clients needed the export
documentations urgently which resulted in the client
pressuring us to get them registered.
MEASURE IMPLEMENTED
 I had to call RBZ making an urgent follow up on the
registration application submitted in the DMS
WHAT I LEARNT
 To register a company as an exporter, the client have to
submit a completed RBZ Registration Form, copy of
Form CR14, Form CR6 and tax Clearance Certificate
CHALLENGES FACED

DATE
APRIL
WEEK 1
WEEK 2
DESCRIPTION OF WORK DONE
 Registering clients as Exporters of Goods and
Transport services
 Stamping, printing and issuing of Forms CD3



Preparing Weekly Form CD3 Return
Pre acquitting Forms CD3 in CEPECS
Processing Forms CD1

Some Form CD3 were not submitted in the RBZ
CEPECS system and the Form CD3 AD copies be
missing or hardly visible
MEASURE IMPLEMENTED
TRAINEE SIGNATURE:
WORK SUPERVISOR’S SIGNATURE:

I had to capture the Forms CD3 manually and in cases
were the Forms were not visible I had to call the client
or pattern after the available visible Forms CD3 that
was used for the same journey.

Requested clients to complete the RBZ Form CD3
Capturing template.
WHAT I LEARNT

WEEK 3


The process of capturing the Forms CD3 manually in
the system made me familiar with all the sections on
the FORM CD3 and put me in a better position to even
tale through some clients which were new to accessing
Forms CD3
Answering incoming calls and assisting clients over CHALLENGES FACED
the phone.
 Clients called in with various issues pertaining to the
Attending to customer queries on Form CD1s and
new directives which turned out to be difficult to
other export documents.
explain their queries and questions
MEASURE IMPLEMENTED
 Got assistance from my supervisor on how to present
myself to the new area and the choice of words to use
when communicating with senior management and
clients.
WHAT I LEARNT
 Having to handle various inquiries and questions from
clients and other colleagues helped me to be more
TRAINEE SIGNATURE:
WORK SUPERVISOR’S SIGNATURE:
WEEK 4

Filing and archiving documents updating the
departmental filing and in addition, retrieving
documents to resolve queries
knowledgeable about the process flows and the
directives issued by RBZ. Also learnt how to handle
clients even under pressure
CHALLENGES FACED

Filing took most of the time since documents were
mixed up.
MEASURE IMPLEMENTED

Dedicated a third of the day to filing.
WHAT I LEARNT

DATE
MAY
WEEK 1
DESCRIPTION OF WORK DONE



TRAINEE SIGNATURE:
Compiling, deduction of MMCZ Commissions and
Government Royalties.
Submission of statutory return to the RBZ
Acquittal of Forms CD1 and Forms CD3
Filing is the most critical and fundamental objective
that every organization should handle with great care.
TRAINEE COMMENTS& RECOMMENDATIONS
 No challenges were faced
WHAT I LEARNT
 Currently there are three deductions made on gross
invoice values for a mineral export as per current
government Acts and Statutes , that is, VAT on exports
in terms of the VAT (tax acts), Royalties on production
according to the Royalties Act and MMCZ statutory
commission in terms of the MMCZ Act. The quantum
WORK SUPERVISOR’S SIGNATURE:
WEEK 2



Submission of Form CD3 Weekly return
Processing Forms CD1
Acquittal of Forms CD1 and Forms CD3
WEEK 3

Collecting charges for Forms CD3 and Forms CD1
that were issued to the clients
Processing Form CD1 for exporting samples.

of royalties depends on the type of mineral.
CHALLENGES FACED
 Client requesting to amend the Form CD1 after it had
already been approved and they were urgently needing
it
MEASURE IMPLEMENTED
 I sent an email to RBZ for referral of the Form CD1
and also called RBZ to attend to the request urgently
WHAT I LEARNT
 To do due diligence when processing Forms CD1 and
to always confirm with client if they would not have
specified inFormation on application Forms.
CHALLENGES FACED


The Form CD1 for samples was different from the one
for a normal sale which was a new type of Form CD1 I
had to process.
MEASURE IMPLEMENTED
Referred to previous Forms CD1 for samples that was
processed before in the system and processed it
according to the same pattern.
WHAT I LEARNT

TRAINEE SIGNATURE:
Another condition to raise a Form CD1 is to export
samples which is acquitted when sample results return
or if they are consumable samples when and when it is
processed.
WORK SUPERVISOR’S SIGNATURE:
WEEK 4
CHALLENGES FACED



I was invited for an overtime project in the Back
Office Operations Department
Processing Forms CD1
Acquittal of Forms CD1 and Forms CD3

I had to go through another training to operate Sybrin
System within a short period of time.
MEASURE IMPLEMENTED

I was assisted with a fellow colleague on the basic
modalities of using the Sybrin System
WHAT I LEARNT

DATE
JUNE
WEEK 1
DESCRIPTION OF WORK DONE
 Compiling, deduction of MMCZ Commissions and
Government Royalties.
 Submission of statutory returns to the RBZ
 Processing Forms CD1
 Acquittal of Forms CD1 and Forms CD3
How to operate a new system called Sybrin which is
used for documrnt management and updating customer
inFormation base
TRAINEE COMMENTS& RECOMMENDATIONS
CHALLENGES FACED

We failed to deduct the MMCZ commissions and
government royalties due to the variance in the
exchange rate between USD and Bond note, the
account to be debited was USD and account to be
credited was RTGS
MEASURE IMPLEMENTED

TRAINEE SIGNATURE:
We inquired with MMCZ for guidance and sent the
return without any deductions for the month of May.
WORK SUPERVISOR’S SIGNATURE:
WHAT I LEARNT

WEEK 2




Submission Forms CD3 Weekly return
Processing Forms GSD
Acquittal of Forms CD1 and Forms CD3
I assisted the imports team with the Legacy debts
exercise
CHALLENGES FACED
 During the legacy debt exercise, we had to send a lot of
emails to clients which required for us to access email
addresses for each individual client in the system.
MEASURE IMPLEMENTED
 Designated time sorely for retrieving and accessing
email addresses from T24 as well as sybrin client
system.
WHAT I LEARNT
 More insight on the new directive concerning legacy
debts
CHALLENGES FACED
WEEK 3



TRAINEE SIGNATURE:
Currently there are three deductions made on gross
invoice values for a mineral export as per current
government Acts and Statutes , that is, VAT on exports
in terms of the VAT (tax acts), Royalties on production
according to the Royalties Act and MMCZ statutory
commission in terms of the MMCZ Act. The quantum
of royalties depends on the type of mineral.
Processing Form CD1 for individual exporter
emigrating from Zimbabwe
Acquittal of Forms CD1 and Forms CD3
Registration of individual exporters
A client wanted to emigrate from Zimbabwe and
required a Form CD1 urgently and having to explain
the registration processes made him to fume due to the
anticipated delays
MEASURE IMPLEMENTED

WORK SUPERVISOR’S SIGNATURE:

I had to escalate to my supervisor who handled the
agitated client

We registered the client in the system through email to
RBZ and had to call them to speed up the registration.
WHAT I LEARNT
WEEK 4
TRAINEE SIGNATURE:




Submission Form CD3 Weekly return
Processing Form CD1s
Acquittal of Form CD1 and Forms CD3
Issuing Forms CD3

How to deal with different type of people and to know
the right kind of communication skill to implement in
various situations.

To know when to escalate a situation to a senior
colleague.
CHALLENGES FACED
 Client coming in needing an urgent Form CD3 while
they were not yet registered in the RBZ CEPECS
System.
MEASURE IMPLEMENTED
 I had to issue the client a few Form CD3 with a
temporary pre-stamped authority while I went on to
register them in the system.
WHAT I LEARNT
 There is a temporary pre stamped authority under SI
132/2003 issued to clients requesting for Forms CD3
while they don’t have their own pre stamped authority.
WORK SUPERVISOR’S SIGNATURE:
DATE
JULY
WEEK 1
WEEK 2
WEEK 3
DESCRIPTION OF WORK DONE
 Submission of statutory returns to the RBZ
 Processing TRAS 2 Acquittals
 Acquittal of Forms CD1 and Forms CD3


Visited the RBZ to collect Form CD3 pads
Processing Forms CD1for exporting Live Animals
which was a temporary export
Acquittal of Form CD1 and FORMS FORM CD3
Issuing Forms FORM CD3



Submission Form CD3 Weekly return
Processing Forms CD1s
Acquittal of Form CD1 and Forms CD3


TRAINEE COMMENTS& RECOMMENDATIONS
CHALLENGES FACED
 We Contacted hunting operators for the regularization
of the TRAS2 documents and some were not
responding
MEASURE IMPLEMENTED
 Processed for those who had submitted their documents
and flagged those that had not done so so as to send
reminders for compliance.
WHAT I LEARNT
 Processing TRAS 2 which are Tourism Declaration
Forms for Hunting operators.
 No challenges were faced this week but enjoyed the
experience of visiting the RBZ for collection ofForm
CD3 Pads which are recorded and accounted for per
each receiving bank
CHALLENGES FACED

A client sent an acquittal instruction with a subject on
email stating about a payment to be done, therefore I
did not notice the acquittal instruction. The client then
filed in a complaint on the delay of the acquittal
MEASURE IMPLEMENTED

TRAINEE SIGNATURE:
We immediately acquitted the FORM CD1 and
escalated the case to my supervisor with valid reasons
WORK SUPERVISOR’S SIGNATURE:
why we could not acquit in time
WHAT I LEARNT

WEEK 4


Sending overdue/outstanding FORM CD1 and
Form CD3 reminders to clients.
Filling of files and documents
To always check all emails that come through my inbox
even if it might seem unrelated to me
CHALLENGES FACED

Retrieving responses from the DMS was slow due to
lagging of the system and some documents were
missing
MEASURE IMPLEMENTED

Continued on with what information I had and marked
all the spaces that I would need to revisit and furnish
with the relevant documents after the DMS system
revives
WHAT I LEARNT

DATE
AUGUST
TRAINEE SIGNATURE:
DESCRIPTION OF WORK DONE
 Resolving Form CD3 overdue acquittals
Sending reminders to clients is a good exercise as some
clients would overlooked submission of acquittal
schedules which will really make customers happy due
to our diligent service.
TRAINEE COMMENTS& RECOMMENDATIONS
CHALLENGES FACED
WORK SUPERVISOR’S SIGNATURE:
WEEK 1


WEEK 2



Submission of statutory returns to the RBZ
Submission of Forms FORM CD3 return
Accessing proof of payments for some Forms CD3 to
be acquitted which were submitted but not actioned.
MEASURE IMPLEMENTED
 Retrieving copies of telegraphic transfers from archived
files dating back to 2012 and also confirming with
client when they received their exports proceeds
WHAT I LEARNT
 Filing is very important and if we don’t file documents
there is a time we will need them and missing them will
bring fatal consequences
Calling and emailing clients to inquire on the nature CHALLENGES FACED
of incoming receipts.
 Some clients had not updated their active contact
details and contacting clients relating to their incoming
Endorsing appropriate coding on incoming receipts.
funds became a challenge
Registering exporters with the RBZ.
MEASURES IMPLEMENTED


Referred to previous mails, contacted relative CRMs or
branches and also utilising company websites through
google
WHAT I LEARNT
 How to manage clients and the choice of words to use
when explaining concepts.
 How to put appropriate coding on incoming receipts
which vary due to the nature and purpose of the funds
for example export proceeds(sales of services offered)
and free funds(donations or local payments)
WEEK 3
TRAINEE SIGNATURE:

Calling clients to inquire on the nature of incoming
CHALLENGES FACED
WORK SUPERVISOR’S SIGNATURE:


receipts.
Endorsing appropriate coding on incoming receipts.
Registering exporters with the RBZ.

Some clients were first time receivers of export
proceeds which meant I had to explain the 80/20 %
retention according to Directive RU128 which resulted
in some clients fuming or just not agreeing with it.
MEASURES IMPLEMENTED

Explained and referred the client to the related
Directives for their information.
WHAT I LEARNT
 How to manage various clients and the choice of words
to use when explaining concepts which increased my
interpersonal and communication skills.
WEEK 4





Preparation of EC Form 1 and Exporter retention
CHALLENGES FACED
Calling clients to inquire on the nature of incoming
receipts.
 Clients responding late for the confirmation of purpose
Endorsing appropriate coding on incoming receipts.
of funds yet requiring their accounts to be credited the
Registering exporters with the RBZ.
very same day which disrupts the internal process flow
Forms CD1 and GSD Acquittals
deadlines
MEASURES IMPLEMENTED

TRAINEE SIGNATURE:
Contacted treasury department to give special
consideration for retention rate and had to scan
Telegraphic Transfer to international payments for
crediting
WORK SUPERVISOR’S SIGNATURE:
WHAT I LEARNT
 The Treasury department obtains a rate from RBZ for
the day to facilitate the 20% retention of export
proceeds which are then utilised to fund and promote
the interbank market.
DATE
SEPTEMBER
WEEK 1
WEEK 2
DESCRIPTION OF WORK DONE
 Attended the ‘On the money’ training on money
management by Old Mutual.
 Submission of statutory returns to the RBZ
 Preparation of EC Form 1, EC Form Exporter
retention and Form CD3 Weekly Return



Preparation of EC Form 1, EC Form Exporter
retention and FORM CD3 Weekly Return
Calling clients to inquire on the nature of incoming
receipts and endorsing appropriate coding on
incoming receipts.
Registering exporters with the RBZ.
TRAINEE COMMENTS& RECOMMENDATIONS
WHAT I LEARNT

Essentials money management skills through ‘On the
money’ training
CHALLENGES FACED

Clients bringing documents with incomplete documents
for processing of FORM CD1s

.20% retention of client’s funds were credited in the
wrong account
MEASURES IMPLEMENTED
TRAINEE SIGNATURE:

Requesting for more relevant documents from client
and explaining them what is required for registration

Communicating with International payments to reverse
WORK SUPERVISOR’S SIGNATURE:
the transfer and credit the client’s zwl account.

We further resolved to request for client’s preferred zwl
account before crediting funds
WHAT I LEARNT

WEEK 3



Liquidation of funds that had reached the 30day
retention period.
Preparation of EC Form 1, EC Form Exporter
retention and FORM CD3 Weekly Return
FORM CD1 and GSD Acquittals
A delay in crediting funds can actually diminish the
value of client’s money due to the always fluctuating
exchange rate, therefore it should be avoided to avoid
complications with clients
CHALLENGES FACED
 Client requesting the funds to be liquidated ahead of the
normal process flow of liquidating funds because they
claimed that if they don’t liquidate funds now they just
might be inflated.
MEASURE IMPLEMENTED
 Requested the treasury to facilitate an exceptional
liquidation and thereafter pushed for a preparation for a
new process flow which will urgently cater for all
mandatory liquidations.
WHAT I LEARNT
 All export proceeds are mandated to have been utilised
within 30 days and 180 days for tobacco export
proceeds according to Directive RU128 which
encourages production and circulation of forex in the
TRAINEE SIGNATURE:
WORK SUPERVISOR’S SIGNATURE:
WEEK 4


DATE
OCTOBER
WEEK 1
WEEK 2
DESCRIPTION OF WORK DONE
 Submission of applications for procument of goods
locally in forex
 Submission of daily Returns and weekly FORM
CD3 Return
 Submission of state revenue return
 Mandatory 30 day Liquidation of unutilised export
proceeds



TRAINEE SIGNATURE:
Deducting MMCZ Commissions and Government
Royalties
Preparation of EC Form 1, EC Form Exporter
retention and FORM CD3 Weekly Return
Submission of daily Returns and weekly FORM
CD3 Return
FORM CD1 processing and acquittal
Mandatory 30 day Liquidation of unutilised export
country.
CHALLENGES FACED
 Clients in mining sector requesting for us to deduct
MMCZ commissions and government royalties which
were due because of different account denominations
for the Clients(USD) and MMCZ(ZWL)
MEASURE IMPLEMENTED
 Engaged treasury back office with a check requisition
which they actioned all overdue statutory deductions
and I debited the clients’ accounts to furnish back the
sundry USN account
WHAT I LEARNT
 Deductions in USD could not be made due to the issued
SI 142which stated that local payments to be done in
local currency
TRAINEE COMMENTS& RECOMMENDATIONS
WHAT I LEARNT


Played a pivotal role for the process flow to be issued
and implemented
Process flows are very essential in the running and
functioning of any organisation, failure to implement
one can be very disruptive in the running of business
CHALLENGES FACED

After getting confirmation of purpose of funds from
client, they expected us to credit the funds right away
WORK SUPERVISOR’S SIGNATURE:

proceeds and reminders
Calling clients to inquire on the nature of incoming
receipts and endorsing appropriate coding on
incoming receipts
which is not the case for we have to wait for rate from
RBZ and International payments they do the crediting,
therefore the client ended up fuming without
understanding the procedure and process flow.
MEASURE IMPLEMENTED

I managed to calm down the client and explain the
process flow and how it is RBZ requirements to do so.
The client understood and requested to be notified
when the funds get credited
WHAT I LEARNT
Application of communication skills courses learnt in
college on how to handle different peoples and moods.
Applying theory to practice
CHALLENGES FACED

WEEK 3




Facilitating drawdown payments from the
transitory accounts
Submission of daily Returns and weekly FORM
CD3 Return
FORM CD1 applications, processing and acquittal
Mandatory 30 day Liquidation of unutilised export
proceeds and reminders

Flooding emails which caused me to miss some emails
relating to the exports desk

Low familiarization from clients and branches on how
to handle and facilitate transitory accounts
MEASURE IMPLEMENTED

TRAINEE SIGNATURE:
Scheduled the last 15 minutes of the day to go through
all emails that I might have missed during the day and
note them down for auctioning the following day.
WORK SUPERVISOR’S SIGNATURE:

Assisted the branches and clients on the modalities to
facilitate the transitory account and invited some
branch personnel for a meeting.
WHAT I LEARNT


WEEK 4





Submission of daily Returns and weekly FORM
CD3 Return
FORM CD1 applications, processing and acquittal
Mandatory 30 day Liquidation of unutilised export
proceeds and reminders
Calling clients to inquire on the nature of incoming
receipts and endorsing appropriate coding on
incoming receipts
Facilitating and championing a team building
outing for the Exchange control department
Management of emails is very critical for missing as
little as one email can have heavy consequences on the
bank.
Increased knowledge on the modalities of transitory
accounts
CHALLENGES FACED

Some branches and CRMs were not responding to the
email reminders and liquidation instructions sent to
them which led to some clients not being notified of
imminent liquidations and also leading to some
accounts not being liquidated at all
MEASURE IMPLEMENTED

Got in touch with related branches and CRMs and
notified them on the process flows and how they ought
to respond and action the mandatory liquidations.
WHAT I LEARNT

TRAINEE SIGNATURE:
Implementations of a new process flow is not always
smooth, following up is very crucial so that the
procedures are done well and timeously.
WORK SUPERVISOR’S SIGNATURE:
DATE
NOVEMBER
WEEK 1
DESCRIPTION OF WORK DONE
 Championing and Organising for a team building
and Staff update session for the Exchange Control
Department
 Submission of daily Returns and weekly Form CD3
Return
 Form CD1 applications, processing and acquittal
 Mandatory 30 day Liquidation of unutilised export
proceeds and reminders
TRAINEE COMMENTS& RECOMMENDATIONS
CHALLENGES FACED

Scouting and searching for a suitable venue to hold the
team building session under a specific budget which
met the required team building objectives of the
department.
MEASURE IMPLEMENTED

Utilised Google and consulted some colleagues who
had firsthand experience with some of the possible
venues and compared it all against the drafted budget
and team expectations
WHAT I LEARNT
Budgeting, organising and implementing skills for
corporate events
WHAT I LEARNT
 The team building and staff updated made us aware of
the importance of a team and the dynamics of
managing a team as an individual.
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WEEK 2
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WEEK 3
TRAINEE SIGNATURE:

Attended a team building and staff update session
at Chengeta for International Payments and
Exchange Control
Mandatory 30 day Liquidation of unutilised export
proceeds and reminders
Calling clients to inquire on the nature of incoming
receipts and endorsing appropriate coding on
incoming receipts
Mandatory 30 day Liquidation of unutilised export
CHALLENGES FACED
WORK SUPERVISOR’S SIGNATURE:


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proceeds and reminders
Form CD1 processing and acquittal
Mandatory 30 day Liquidation of unutilised export
proceeds and reminders
Calling clients to inquire on the nature of incoming
receipts and endorsing appropriate coding on
incoming receipts


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WEEK 4


Attending to a schedule sent by RBZ for acquittal
of Forms CD1 and CD3 which were pre-acquitted
in the CEPECS system
Submission of daily Returns and weekly FORM
CD3 Return
Attended a Farewell Luncheon for our Head of
Department who was retiring from the company.
MEASURE IMPLEMENTED
Made a follow up to the respective CRMs to action the
liquidation and revert with the liquidation forms for us
to update the liquidation diary
WHAT I LEARNT
Following up on emails is always essential to ensure
that certain instructions are actioned.
CHALLENGES FACED
 Tracking some applications for acquittal that were done
and submitted in DMS but were not effected in the
CEPECS System.
MEASURE IMPLEMENTED
 Drafted applications for acquittal with DMS Reference
numbers and when we had submitted the application for
acquittal

TRAINEE SIGNATURE:
After sending liquidation reminders to respective
CRMs, there were some funds which were not
liquidated which resulted in the funds exceeding 30 day
period.
WHAT I LEARNT
RBZ as the regulator makes follow ups on export
proceeds that would not have yet been declared. It is
always essential to check on all applications submitted
if they have been noted and acquitted in the CEPECS
System.
WORK SUPERVISOR’S SIGNATURE: