Customer satisfaction improves in Zim services sector

ZIMBABWE’s services sector is witnessing significant improvements in customer satisfaction, as highlighted by the 2024 State of Service Economy Survey (SOSES).

This annual survey, now in its second year, is a collaborative effort between ZB Financial Holdings, Consumer Feedback Consultancy, Tatu Advertising, and The Financial Gazette.
This year, the survey evaluated 12 essential industries, 10 of which have been recognised by the World Bank as pivotal to service economies in developing countries. The industries are utilities, health, education, telecommunications, banking, retail, tourism, transport, insurance, energy, real estate, and agriculture.

ZNCC CEO Chris Mugaga

The results from the latest SOSES were unveiled at a glamorous event in Harare on Tuesday evening, revealing that the National SOSES Services Index (NSSI) for 2024 has risen to 72 percent, up from 69 percent the previous year. This index represents an average of sector-specific service indices.

“We notice that we included the real estate sector and agriculture which were excluded in the last exercise and these two sectors’ performance was quite high, driving the national index up,” Consumer Feedback Consultancy research analyst Leroy Gonyora said.

“In a nutshell this is where we are as a country. There were some lows in some aspects and improvements in others especially when it comes to customer satisfaction and customer experience.”

The survey identified real estate, agriculture, tourism, insurance, and banking as the top-performing sectors that met or exceeded customer expectations. Many customers expressed satisfaction with the innovation and technological adoption among service providers. This trend reflects a growing recognition of the need for enhanced services in a competitive marketplace.

However, the survey also highlighted some critical gaps, notably the failure of service providers to develop tailor-made products that align with customer expectations.
This disconnect indicates a need for more personalised approaches to service delivery, ensuring that offerings resonate with the diverse needs of the customer base.
Running under the theme, “Going beyond for you”, the 2024 service economy survey is a call to action for private, public, and development sector players in Zimbabwe to go beyond normal in pursuit of service excellence to their local, regional, and international customers.

The services sector has become a driving force of the global economy in the wake of a sharp shift from primary productive sectors that conventionally anchored most economies.
According to the Organisation for Economic Cooperation and Development (OECD), service contributes 60 percent of the global gross domestic product (GDP).