Sunday World

Phakathi-rambau identifies gap for black women in insurance

Serial entreprene­ur creates and leads Splendid Cover

- By Mbalenhle Zuma Mbalenhle@sundayworl­

The founder and CEO of Splendid Cover, Zama Phakathi-rambau, is an astute businesswo­man boldly navigating the business world in an endeavour to reach the top of business success.

Phakathi-rambau is now one of the few black women to get into the insurance business sector and currently holds ownership and leadership positions in various entities.

“I’m humbled to be one of a few black women to get into the insurance space. I am inspired to do more and work hard.”

She wants to ensure her latest venture takes off in a big way and makes an impact by educating people about all matters related to insurance.

“I’ve played in different sectors over the 15 years that I have been in business, from marketing, public relations, health, IT, etc. In all I’ve done, I discovered the financial services sector is a niche market, and not many black women play in it,” said Phakathi-rambau.

She started doing research around financial services and how she could get into the sector by speaking to stakeholde­rs. That is when she discovered a gap in the insurance business.

“I’m a serial entreprene­ur and I’m always looking for different banking business solutions, and the insurance business has always been on my mind. I’ve been working on it for a while, doing my own research and setting up the ground for Splendid Cover.” Phakathi-rambau believes in the mantra: “If you want to get into business, you should start with what you know, learn the tricks of the trade, then in time you will start to see gaps.”

“By doing this you can plug and close the gaps in the broader market.

“There will be opportunit­ies and challenges needing you to find solutions and you must be prepared to possibly provide those solutions.

“You can then partner with the right people with the necessary skills and knowledge in a particular sector.”

She has roped in several partners to try and educate artists about medical insurance and funeral cover plans.

“It has been a difficult period in which the industry had to deal with a crippling global pandemic, but we have come this far.

“It is through the collaborat­ions of business and the arts fraternity that life became bearable in difficult times and brought the nation together,” she said.

Born and bred in Hammersdal­e in the outer west of Durban, she has spent most of her career working in marketing and public relations.

She was inspired to start Splendid Market

ing by her colleagues she worked with while she was a marketing and communicat­ions manager at the Durban Chamber of Commerce and Industry.

“I used to interact with a lot of entreprene­urs and many of them would encourage me to go into my business because of the profession­alism and commitment I had for my job.”

Some of her achievemen­ts

If you want to get into business, learn the tricks of the trade

include the Standard Bank Top Women Achiever Award, Fast Growth Women-owned SMME Award, and she was a finalist under the category Top Young Female Entreprene­ur.

In 2018, she won the Top Young Executive of the Year at the Top Company National Business Awards.

 ?? ?? Splendid Cover owner Zama Phakathi-rambau
Splendid Cover owner Zama Phakathi-rambau

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