CIMA India part qualified salary survey 2010

CIMA salary survey 2010 – India

Foreword 1

Executive summary 2

Main findings 4

Salaries and bonuses 4

Size of business 4

Sector 5

CIMA level 5

Future 6

Recruitment and retention 7

Satisfaction with salary 7

Satisfaction with benefits 7

Benefits received 8

Importance of benefits 9

Working hours 10

Skill set requirements 11

Geographical mobility 12

Extent of movement 12

Top destinations 13

One word to describe CIMA difference 14

Country specific salary information 14

Technical information 15

Further information 15

Global contacts 16

1

Foreword

On behalf of the Chartered Institute of Management Accountants

(CIMA), I would like to welcome you to our second global part qualified

salary survey. The results in this report will provide you with an insight

into the current employment experiences and career aspirations of the

business leaders of tomorrow – CIMA’s Indian student base.

Despite ongoing economic instability in many regions around the world,

our report shows a strong relationship between our students and their

employers. Businesses are looking to their professionally-qualified

management accountants to help guide them through the recession

and on to sustainable success. This gives our students a greater sense of job security than those

studying for many other professional qualifications.

Our global survey clearly shows that most of our students believe they are recession-proof. 92%

do not anticipate being affected by redundancy in 2010. This response could also reflect an

increasingly optimistic view of the general economic conditions: this percentage is even higher

than the level of confidence felt by students in last year’s survey (83%). Moreover, nearly two

thirds are feeling positive enough to make a job move in the next two years, although, with this

feeling of security comes higher expectations. This year, just 51% of students are happy with

their current salary compared with 58% in 2009. The drop could indicate a greater sense of

professional value as the downturn lifts.

This report which focuses on CIMA students in India, identifies a number of important trends.

In India, the average annual earnings package is Rs.8.8 lakhs. Although the number of students

satisfied with their salary is down on last year’s figure from 60% to 50%, satisfaction with

benefits has increased slightly from 56% to 61%. However, job security and satisfaction is good

in India with just 2% worrying about redundancy and 82% expecting to receive a bonus this

year.

Our Indian students’ confidence in their professional value is demonstrated by the fact that

79% are planning to change jobs over the next two years and 36% hope to find work abroad.

Moreover, they also show a greater appetite for continuing professional development than

students in any other country. On average, Indian students expressed an interest in seven new

skill areas.

Overall, the global survey reinforces the fact that a growing number of students are finding that

CIMA’s professional accountancy qualification is the best way to develop their career potential.

In 2009 we saw a second year of record student growth and, for the first time, a majority of our

new students (56% of the total) were based outside the UK.

Please read through the following pages to find further snapshots of our students’ working lives.

I hope you find it informative reading.

Charles Tilley

Chief Executive

CIMA

2

Executive summary

Until the recent global downturn the Indian economy had seen an impressive period of

strong growth. Between 2005 and 2008 GDP grew by more than 9% each year according to

the Reserve Bank of India estimates. However, global turmoil has nevertheless had an impact

on India with growth slowing to 6.7% during the first three quarters of 2009.

Of course, given the fact that other major world economies in North America and Europe

have experienced actual recession, the performance of the Indian economy has held up well.

Nevertheless, until the global economy is more fully recovered, growth is likely to remain

limited to well below the 9%+ rates experienced prior to 2008.

The second annual global salary survey of CIMA students was carried out in February 2010. A

total of 2,563 employed students (who had sat an exam within the last two years under the

2005 CIMA qualification structure) contributed to the survey of which 154 responses were

from India. This report summarises the results of this survey with a particular focus on India,

looking at how recent economic events are impacting on salary levels and benefit packages

experienced by CIMA students working there.

Salaries and bonuses

• The average basic annual salary for CIMA students in India is Rs.8.1 lakhs.

• The average bonus received is Rs.0.7 lakhs, which when combined with the basic salary

provides an overall remuneration package of Rs.8.8 lakhs.

• 82% of students anticipate receiving a bonus in 2010; the average bonus expected for

these students is Rs.0.8 lakhs.

• 50% of CIMA students in India are satisfied with their salary compared with 60% in 2009.

• Satisfaction with benefits has increased to 61% for students; up from 56% in 2009.

• Only 12% of Indian students worry that they might experience a pay freeze this year and

2% worry about possible redundancy.

3

Recruitment and retention

• The benefits most commonly provided by employers in India are healthcare (43%), bonus

(36%), mobile phone/Blackberry/PDA (34%), life assurance (29%), and daily subsidised

food (25%).

• The benefits that CIMA students place the greatest value on are healthcare, bonus, life

assurance, and pension.

• Students typically work a 48 hour week, with only 11% working less than 40 hours per

week.

• In terms of future skill requirements, leadership (66%), personal development

(58%), decision making (57%), strategic planning and implementation (56%), and

communication (55%) are the most sought after.

Geographical mobility

• Only 21% of CIMA students in India plan to stay with their current employer over the

next two years. 44% plan to move to another employer in India, and as many as 36%

plan to find work overseas.

• Those students looking to work overseas often favour other English speaking countries, in

particular the UK, the USA, Australia and Canada.

4

Main findings

Salaries and bonuses

The average basic annual salary for CIMA students in India is Rs.8.1 lakhs, plus a bonus of

Rs.0.7 lakhs, producing a total average annual package of Rs.8.8 lakhs in 2010.

There is a broad range of salaries in India; at the higher end, nearly 30% are earning a basic

salary in excess of Rs.10 lakhs, while at the lower end 24% are earning less than Rs.5 lakhs.

This perhaps reflects the spread of experience held by respondents since joining CIMA (25%

have less than one year’s experience, while 20% have more than four).

Less than one-fifth felt they were unlikely to receive an on target earnings bonus this year,

indicating that bonuses are common in India. Those expecting a bonus are expecting to

receive an average of Rs.0.8 lakhs, which equates to 11% of their salary.

Size of business

The majority (65%) of CIMA students in India are employed in large organisations (500+

staff). 13% work in mid-sized organisations (50-499 staff) and 22% in small organisations

(under 50 staff). The largest organisations typically pay the higher salaries and bonuses. A

student working in an organisation with more than 500 staff can expect an average salary

of Rs.8.6 lakhs and bonus of Rs.0.8 lakhs. In smaller organisations the average salary falls to

Rs.6.9 lakhs supplemented by an average bonus of Rs.0.4 lakhs.

Average salary and bonus by size of business

Rs.8.1lakhs Rs.8.8lakhs

More than 500 staff

Less than 500 staff

India overall

Rs.9.4lakhsRs.8.6lakhs

Rs.6.9lakhs

Rs.8.1lakhs

Rs.7.3lakhs

Rs.8.8lakhs

Salary Bonus Total

TOPCIMA/Passed finalist

Strategic

Managerial

India overall

Rs.10.9lakhsRs.10.1lakhs

Rs.7.9lakhs

Rs.7.4lakhs

Rs.8.6lakhs

Rs.8.0lakhs

Salary Bonus Total

5

Sector

CIMA is important to the broad base of international industry with the accountancy sector

employing the highest proportion of CIMA students (31%), followed by the banking, finance

and insurance sector (12%), ICT, technology and telecoms sector (11%), and manufacturing

and engineering sector (10%).

CIMA level

A higher than average number of students in India (25%) have less than one year’s

experience since enrolling with CIMA compared to the global average of 8%. Meanwhile

26% have one to two years’ experience against a global average of 20%. This, in turn, helps

explain the CIMA level of study1 distribution of students in India.

In terms of level of study, 44% of Indian CIMA students are at managerial level, 38% at

strategic level, 10% are TOPCIMA, and 8% are passed finalists, with salary and bonuses

increasing as a student progresses with their studies.

• Managerial level students earn an average salary of Rs.7.4 lakhs and receive an average

bonus of Rs.0.6 lakhs.

• Strategic level students earn an average salary of Rs.7.9 lakhs and receive an average

bonus of Rs.0.7 lakhs. The overall package is therefore, typically, 8% more than that

received by managerial students.

• TOPCIMA students and passed finalists earn an average salary of Rs.10.1 lakhs and receive

an average bonus of Rs.0.8 lakhs. The overall package is therefore, typically, 40% more

than that received by managerial level students.

Average salary and bonus by CIMA level

1 For the purposes of this survey, CIMA level data was collected under the 2005 CIMA qualification structure and refers to those at managerial level, strategic level, TOPCIMA and passed finalists. For comparison under the 2010 qualification structure, these levels are respectively now known as operational/management level, strategic level, T4 Part B Case Study and exams complete.

Rs.8.1lakhs Rs.8.8lakhs

More than 500 staff

Less than 500 staff

India overall

Rs.9.4lakhsRs.8.6lakhs

Rs.6.9lakhs

Rs.8.1lakhs

Rs.7.3lakhs

Rs.8.8lakhs

Salary Bonus Total

TOPCIMA/Passed finalist

Strategic

Managerial

India overall

Rs.10.9lakhsRs.10.1lakhs

Rs.7.9lakhs

Rs.7.4lakhs

Rs.8.6lakhs

Rs.8.0lakhs

Salary Bonus Total

The overall package typically received by those studying TOPCIMA and passed finalists is 40% more than that received by managerial level students.

6

Future

There is some evidence to suggest that the tough global trading conditions are only having

a limited impact on India, with 86% of students not anticipating their salary or job to be

affected as a result of the global recession in 2010. Along with Sri Lanka and South Africa,

India is one of the most optimistic. Only 12% of Indian students worry that they might

experience a pay freeze this year (compared to 39% globally), and 2% worry about possible

redundancy (8% globally). Such concerns are clearly limited to a small minority and are far

less significant than in countries that have been harder hit by global conditions such as the

UK, where 45% fear a pay freeze and 9% worry about redundancy.

Anticipated impacts in 2010

• On average CIMA students annual salary is Rs.8.1 lakhs

• The average bonus is Rs.0.7 lakhs across all respondents

• 18% don’t expect to receive a bonus in 2010

• For the 82% expecting a bonus the average bonus is Rs.0.8 lakhs

86%

12%

2%

0%

0%

None of the below

Pay freeze

Redundancy

Salary reduction

Shorter working week

7

Recruitment and retention

Satisfaction with salary

Overall 50% of students are satisfied with their current salary, down from 60% last year.

This level of satisfaction remains fairly constant across different levels of students but does

appear to increase slightly amongst TOPCIMA students and passed finalists where salary

levels are higher.

Salary satisfaction 2009-2010

Satisfaction with benefits

61% of CIMA students in India said they were either extremely satisfied or satisfied with

the benefits they receive, up from 56% in 2009, but slightly lower than the 2010 global

satisfaction score of 67%.

Satisfaction with benefits 2009-2010

1%1%

59%49%

29%41%

11%9%

Extremely satisfied

Satisfied

Dissatisfied

Very satisfied

2009 2010

4%1%

52%60%

36%32%

8%7%

Extremely satisfied

Satisfied

Dissatisfied

Very satisfied

2009 2010

1%1%

59%49%

29%41%

11%9%

Extremely satisfied

Satisfied

Dissatisfied

Very satisfied

2009 2010

4%1%

52%60%

36%32%

8%7%

Extremely satisfied

Satisfied

Dissatisfied

Very satisfied

2009 2010

8

Benefits received

Healthcare, bonus, mobile phone/Blackberry/PDA, life assurance, daily subsidised food, and

travel benefits/allowance are all additional benefits that employers commonly offer in India.

The table below shows the most common types of additional benefits that Indian students

receive, and highlights the decrease in study leave, flexible hours and pension benefits being

received this year.

Common benefits offered to Indian CIMA students

Benefit Received in 2010 Received in 2009

Healthcare 43% 45%

Bonus 36% 37%

Mobile phone/Blackberry/PDA 34% 36%

Life assurance 29% 31%

Daily subsidised food 25% n/a

Travel benefits/allowances 22% n/a

Company car/allowance 18% 13%

Study leave 18% 31%

Flexible hours 16% 23%

Pension 14% 26%

9

Importance of benefits

The most important benefits identified by CIMA students in India are healthcare, bonus, life

assurance, pension and study leave, with the top two (healthcare and bonus) being the most

widely received by CIMA students; 43% and 36% respectively. While pension and study leave

are fourth and fifth in terms of importance, they are only being received by 14% and 18%

of students respectively. Globally 55% of students receive a pension and 61% receive study

leave.

Both pay rise and bonus as an incentive for passing exams were identified as important

benefits for CIMA students in India, but as it stands only 2% and 1% currently receive these

incentives; and highlights an area where employers could expand their benefits scheme.

Students in India place a great importance upon receiving benefits – it is the only country

surveyed where the mean score for the importance of every benefit is three or higher. This

could be due to a lower proportion of students receiving benefits and because they work

some of the longest hours.

Importance of benefits (mean score) by benefits received 5 = extremely important, 1 = not at all important

4.5 4.4 4.2 4.2 4.2 4.1 4 4 3.9 3.8 3.7 3.7 3.7 3.6 3.6 3.5 3.5 3.4 3.3 3.2 3.2 3

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32.5

21.5

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20%

10%

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Employers could improve satisfaction levels by offering pay rises or bonuses as an incentive for passing exams.

10

Working hours

Indian CIMA students typically work 48 hours per week at present with only 11% working

less than 40 hours per week. Such a long working week is typical of other Asia Pacific

Countries (APAC) as well, such as Pakistan and Hong Kong, but India itself has the second

longest working week. The global average is 42 hours.

Very few people think that their working hours will decrease in 2010 (only 3%). Instead, 46%

believe that their working hours will increase over the coming year – higher than the global

expectation of 35%, but less pessimistic than in 2009 (63%).

Requirement to work outside normal hours

62% of those who expect their working hours to increase cite the fact that they are taking

on more responsibility and more pressure as the cause. Understaffing (52%) and company

growth (45% of Indian students, compared to only 28% globally) were also identified as

factors for increasing hours.

Reasons for increasing hours

46%

3%

Increasing

Decreasing

Staying the same51%

76%62%

47%52%

40%45%

37%28%

23%25%

22%13%

Taken on more responsibility/more pressure

Understaffing/lack of resources

Company growth

Company culture

My role has changed

Current financial climate

2009 2010

46% believe their working hours will increase over the coming year with nearly half identifying company growth as a contributing factor.

11

Skill set requirements

The skills that Indian CIMA students are keenest to acquire during the coming year include

leadership (66%), personal development (58%), and decision making (57%).

Skill sets required

Indian students show greater enthusiasm to learn skills across a wider range of areas than

students globally. The typical Indian CIMA student expresses interest in an average of around

seven different new skill sets. Globally the average is in the order of around five or six

different areas.

66%

58%

57%

56%

55%

52%

44%

44%

43%

42%

42%

38%

34%

32%

25%

23%

7%

Leadership

Personal development (e.g. career planning, time management)

Decision making

Strategic planning and implementation

Communication (e.g. negotiating, writing, presenting)

Reporting and analysis

Project management

Risk management

Problem solving

Time management

Team building

Budgeting

Skills for developing others (e.g. assessing performance, coaching)

Persuading and influencing

Internal audit and control

IT software (MS Excel, Word, Powerpoint, etc.)

IT (hardware systems)

Indian students show greater enthusiasm to learn skills across a wider range of areas than students globally.

12

Geographical mobility

Extent of movement

Currently CIMA students are living and working in the following locations across India:

Bangalore (22%), Mumbai (16%), Chennai (14%), Delhi (14%) and elsewhere in India (35%).

79% of Indian students anticipate that they will change jobs during the next two years

(compared to only 64% globally). Indeed, as many as 42% would like to change jobs in the

next six months.

Timescale to job move

Just under half (45%) of the students that plan to change jobs would like to find work

overseas. As a result, just over one-third of all Indian CIMA students are planning to find new

jobs overseas in the next two years.

Career plans for the next two years

The desire for an improved salary, new and better career opportunities and an improved

quality of life are the driving forces behind a move to a different country (at 78%, 65% and

60% respectively), closely followed by the desire to experience a different culture and gain

improved employment conditions.

21%

16%

19%

23%

21%

1-2 years

7-11 months

4-6 months

0-3 months

Not currently seeking

21%

36% Stay in current job

Find a new job in India

Find a new job abroad44%

13

Relocation reasons of those likely to move abroad

Top destinations

Those students considering working overseas are most likely to consider the UK (84%, up

from 72% in 2009) or the USA (56%, up from 22% in 2009), and, to a lesser extent, the

UAE (27%, up from 23% in 2009). There is a general interest in working in English speaking

overseas locations (with Canada and Australia also likely to be seriously considered by

many).

Mobility of CIMA qualification

85%78%

64%65%

83%65%

82%60%

54%55%

50%51%

42%31%

32%22%

18%16%

6%9%

0%5%

Improved salary

New career opportunity

Better employment opportunities

Improved quality of life

Experience a different culture

Improved employment conditions

Work promotion

Stronger economy

Take time out/travel

Friends and family

Internal company transfer

2009 2010

UK84%

Australia16%

Singapore24%

UAE27%

USA56%

Canada20%

14

One word used to describe how CIMA is different from other accountancy qualifications...

The size of the font reflects the number of times the word was spontaneously mentioned.

Country specific salary information

This section provides a breakdown of country specific salary information by key indicators

(where the sample base is large enough to provide reliable information).

India

Base: 154 Salary Bonus Package

Total Rs.8.1 lakhs Rs.0.7 lakhs Rs.8.8 lakhs

Age

25-34 Rs.7.6 lakhs Rs.0.5 lakhs Rs.8.1 lakhs

35-44 Rs.11.0 lakhs Rs.1.3 lakhs Rs.12.3 lakhs

Level

Managerial Rs.7.4 lakhs Rs.0.6 lakhs Rs.8.0 lakhs

Strategic Rs.7.9 lakhs Rs.0.7 lakhs Rs.8.8 lakhs

TOPCIMA/Passed finalist Rs.10.1 lakhs Rs.0.8 lakhs Rs.10.9lakhs

Size of organisation

Less than 500 employees Rs.6.9 lakhs Rs.0.4 lakhs Rs.7.3 lakhs

More than 500 employees Rs.8.6 lakhs Rs.0.8 lakhs Rs.9.4 lakhs

Experience since enrolling

Less than 1 year Rs.7.1 lakhs Rs.0.6 lakhs Rs.7.7 lakhs

1-2 years Rs.7.4 lakhs Rs.0.5 lakhs Rs.7.9 lakhs

2-3 years Rs.8.0 lakhs Rs.0.5 lakhs Rs.8.5 lakhs

3-4 years Rs.8.3 lakhs Rs.0.8 lakhs Rs.9.1 lakhs

4-5 years Rs.9.0 lakhs Rs.0.5 lakhs Rs.9.8 lakhs

5 years+ Rs.11.0 lakhs Rs.1.3 lakhs Rs.12.3 lakhs

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15

Technical information

Data collection for the CIMA Global Part Qualified Salary Survey 2010 was carried out

by CIMA itself online during the period 28 January to 14 February 2010. The data was

subsequently rim weighted (by Redshift Research) by country to ensure the profile of the

survey sample accurately represents all CIMA markets.

13,980 CIMA students globally were selected and invited to participate (UK, Ireland, South

Africa, Sri Lanka, Malaysia, India, Hong Kong, Australia, Mainland China, UAE, Botswana,

Pakistan, Russia, Poland and Zambia). A total of 2,563 completed the study globally (18%

response rate), with 154 responses from India. Basic responses were as follows:

The survey represents a re-run of the annual student salary survey, the previous iteration of

which was conducted during January/February 2009. In order to improve the quality of the

data collected, more detailed salary bands were used on the questionnaire to record details

of student salaries. This means that averages previously published (in the 2009 report) will

not compare directly with 2010 figures. Where comparisons with 2009 data appear in this

report, we have used an identical banding system to compare changes year on year (which

are expressed as a percentage) in order to ensure that the changes shown reflect a genuine

shift in the economic picture rather than a difference created artificially by using different

banding systems in each period.

For the purposes of this survey CIMA level data was collected under the 2005 CIMA

qualification structure and refers to those at managerial level, strategic level, TOPCIMA

and passed finalists. For comparison under the 2010 qualification structure these levels are

respectively now known as operational/management level, strategic level, T4 Part B Case

Study and exams complete.

Further information

For further information on technical matters relating to this survey, contact

yourvoice@cimaglobal.com

For further country specific analysis and reports, visit CIMA MY JOBS at

http://myjobs.cimaglobal.com/

Both the Chartered Institute of Management Accountants and Redshift Research are Market

Research Society Company Partners. The organisations abide by the Market Research

Society’s Code of Conduct and the Data Protection Act.

 

Table of responses by age band

Under 25 10

25-34 108

35-44 33

45 and over 3

Total 154

Table of responses by CIMA level

Managerial 67

Strategic 59

TOPCIMA 15

Passed finalist 13

Total 154

Table of responses by gender

Male 134

Female 20

Total 154

16

Global contacts

CIMA UK – Head Office26 Chapter StreetLondonSW1P 4NPUnited KingdomT. +44 (0)20 8849 2287F. +44 (0)20 8849 2450E. cima.contact@cimaglobal.comwww.cimaglobal.com

CIMA AustraliaSuite 1305109 Pitt StreetSydney NSW 2000AustraliaT. +61 (0)2 9376 9900F. +61 (0)2 9376 9905E. sydney@cimaglobal.comwww.cimaglobal.com/australia

CIMA BotswanaPlot 50676, 2nd Floor, Block BBIFM Building, Fairgrounds Office ParkGaborone, BotswanaPostal address:PO Box 403475Gaborone, BotswanaTelefax. +267 395 2362F. +267 395 2362/397 2982E. gaborone@cimaglobal.comwww.cimaglobal.com/botswana

CIMA ChinaUnit 1508AAZIA Center, 15th floor1233 Lujiazui Ring RoadPudongShanghai 200120P.R.ChinaT. +86 400 820 4080 +86 (0)21 5528 5119F. +86 (0)21 5228 5120E. infochina@cimaglobal.comwww.cimaglobal.com/chinawww.cncima.com

CIMA Hong KongSuites 1414 – 141514th Floor Jardine HouseCentral, Hong KongT. +852 2511 2003F. +852 2507 4701E. hongkong@cimaglobal.comwww.cimahongkong.com

CIMA IndiaUnit 1-A-1, 3rd FloorVibgyor Towers C-62, G Block,Bandra Kurla Complex,Bandra (East),Mumbai - 400 051T. +91 (0)22 4237 0100F. +91 (0)22 4237 0109E. india@cimaglobal.comwww.cimaglobal.com/india

CIMA Ireland45-47 Pembroke RoadBallsbridge, Dublin 4T. +353 (0)1 643 0400F. +353 (0)1 643 0401E. dublin@cimaglobal.comwww.cima.ie

CIMA MalaysiaLots 1.03b and 1.05, Level 1KPMG TOWER8 First Avenue, Bandar Utama47800 Petaling JayaSelangor Darul EhsanMalaysiaT. +60 (0)3 7723 0230F. +60 (0)3 7723 0231E. kualalumpur@cimaglobal.comwww.cimaglobal.com/malaysia

CIMA Middle EastOffice E01, 1st Foor, Block 3PO Box 502221Dubai Knowledge VillageAl Sofouh RoadDubai, UAET. +971 4434 7370F. +971 4434 1998E. middleeast@cimaglobal.comwww.cimaglobal.com/middleeast

CIMA PakistanNo. 201, 2nd floor Business ArcadePlot No. 27 A, Block 6, P.E.C.H.S.Shahra-e-FaisalKarachi, PakistanT. +92 21 3432 2387/88/89F. +92 21 3432 2390E. pakistan@cimaglobal.comwww.cimaglobal.com/pakistan

CIMA Singapore51 Goldhill Plaza, #08-02Singapore 308900T. +65 6535 6822F. +65 6534 3992E. singapore@cimaglobal.comwww.cimaglobal.com/singapore

CIMA South Africa1st Floor, 198 Oxford RoadIllovo, JohannesburgSouth AfricaPostal address:PO Box 745, Northlands 2116, South AfricaT. +27 (0)11 788 8723/0861 CIMA SAF. +27 (0)11 788 8724E. johannesburg@cimaglobal.comwww.cimaglobal.com/southafrica

CIMA Sri Lanka356 Elvitigala MawathaColombo 5Sri LankaT. +94 (0)11 250 3880F. +94 (0)11 250 3881E. colombo@cimaglobal.comwww.cimaglobal.com/srilanka

CIMA Zambia6053, Sibweni RoadNorthmead, LusakaZambiaPostal address:PO Box 30640, Lusaka, ZambiaT. +260 21 1 290 219/291 708F. +260 21 1 290 548E. lusaka@cimaglobal.comwww.cimaglobal.com/zambia

CIMA Zimbabwe6th Floor, Michael House62 Nelson Mandela Avenue,HarareZimbabwePostal address:PO Box 3831, Harare, ZimbabweTelefax. +263 (0) 4 708600/702617F. +263 (0) 4 708600/702617E. harare@cimaglobal.comwww.cimaglobal.com/zimbabwe

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