InterSec Pioneers Cash in TransitService
Experience, Discipline and Innovation Define its Cutting Edge
InterSec Security Company Ltd, the longest serving private security firm in Rwanda will soon introduce a new and exciting service to the financial market in Rwanda entitled Cash in Transit (CIT).
Pundits have rightly observed that this service could not have come at a better moment than now, when Rwanda is experiencing fast growth in her financial sector.
Cash in Transit (CIT) is a common service in developed financial sectors across the world—a service that is normally offered by reputable private security firms to financial institutions, big companies and at times some public institutions. It involves movement of cash between places for specific purposes; say from bank headquarters to branches or from bank to central bank or from company or public institution to bank, etc.
Rwanda’s financial sector is growing so fast and players are increasingly demanding innovative services in order to serve their clients better.
Traditionally, the movement of cash among financial institutions in Rwanda is internally arranged. What is common here is that banks invest in own cash transit vehicles and only hire a private security firm to drive and escort cash.
Incidentally, InterSec happens to be the most preferred security firm in Rwanda (by all banks) to provide this service—based on its rich experience in providing guarding services in the country.
InterSec enjoys over 95% market share in terms of guarding services to banks in Rwanda. Reasons why banks prefer InterSec to a multitude of other private security firms in the market is quite an exciting story for Hope Magazinereaders.
Banks have a statutory obligation to keep your money and mine safely. Whereas their (banks) core business is banking—mainly characterized by managing deposits and withdraws, they hire security firms to assure clients of safety of their money.
In a bid to satisfy its clients better, InterSec will very soon start offering CIT services. Being the first time in the country, InterSec has taken no chances whatsoever and a lot of groundwork has gone into this.
Firstly, Karl Wucherpfennig an expert in CIT service with rich experience—served for seven years in Tanzania, joined InterSec just a couple of months ago. He joins the team as CIT Manager. “My job here is not to run CIT Service. My job is to empower Rwandans so we can see a Rwandan Karl in the near future”, he said in a recent interview with Hope Magazine.
In his explanation, Karl defines this as venturing into “Cash Market”, whereby much as the core thing will be about moving cash, there are quite a number of other related services that will come along with it.
“Cash Market will have a number of runs, including; CIT—involving movement and protection of cash for banks, private companies and even individuals, and Cash Processing—involving collection and sorting of cash to three categories: to be redistributed into the market, to be fed into the ATM (Automatic Teller Machine) system, and the damaged notes/coins to be sent to National Bank for destruction,” he explains.
He adds that this will augment banking, “as banks will get to save energy, money and time to concentrate to other internal roles other than moving and counting cash”.
InterSec Ready for CIT
CIT is a specialized service that not only requires heavy capital investment but also more efficient and tailor-made systems, operations and procedures.
A total of 25 InterSec guards were recently passed out at a ceremony that was presided over by the company’s Managing Director Charles Lwanga Gakwaya after a 1-week intensive training in CIT. Armed and properly dressed and protected for the purpose, the CIT Guards displayed formations to guests on how they will be executing their duties. They were also awarded certificates of (CIT Guard) Course completion.
Three specialized CIT vehicles have been imported direct from Toyota Land Cruiser Company; with special features—only for this service. Back to base (InterSec headquarters), a new CIT department has been established. Karl confirms that all the necessary equipment, standard operating procedures, rules and regulation and internal controls are in place, ready to serve. In the short run, in a likely scenario that InterSec gets overwhelmed with demand for the service, Karl says that, as a back-up, some banks can still continue working with the company using own vehicles.
Additionally, although InterSec is insured, moving in for this more risky and new service will require a separate cover. “We are soon closing negotiations with our Insurer—Sonarwa. It is correct this may require re-assurance because it is a bigger risk that necessitates bigger cover”. Also, InterSec will ensure that the CIT service is affordable and a service of choice—most preferred by banks to the traditional way of moving cash.
Intersec Competitive Edge
Intersec is the oldest private security firm, established in 1994 after the Genocide against the Tutsis. Mr. Celestin Kayitankore the Sales and Marketing Manager at InterSec says initially the founders of InterSec aimed at only providing guarding services to their own businesses and properties. The company has evolved to grow into multifaceted security firm. Now it offers the following services; armed and unarmed guard services, sells security equipment like automatic gates, automatic alarm systems, CCTV Services, Electric Security Fences, Access Control Systems. It also offers Security Consultancy, home and office security services and guarding of VIPs.
For now many years, until today, InterSec is the only private security firm whose guards the Ministry of Internal Security (MINITER) allowed to carry guns. Not any other, because the ministry decided to withdraw them after rampant misuse(of guns). However, the new law may allow even other private security firms’ guards to start carrying guns. InterSec shares between 50-60% of the guarding services market in Rwanda—both armed an unarmed. With the force of over 2,000 guards, the company dominates competitors in terms of countrywide deployment. “We are the only security firm in Rwanda with guards in all districts.
We aim at more recruitment to extend our deployments down to sector and cell levels”, the Marketing Manager said. As a result, most of the institutions in Rwanda, both private and public prefer InterSec to most of other private security firms. They guard all banks, they guard all MTN masts in the country, they guard all embassies except the American, British and Kenyan Embassies; they guard most public institutions and NGOs and civil society organizations. InterSec plans to extend beyond borders to neighboring countries; Tanzania, Eastern DR Congo and Burundi, in the near future.
In terms of facilities and logistics required to do a good job, InterSec has invested extensively to ensure that it offers a good service. It now has many patrolling vehicles and motorbikes to do effective field supervision and inspections. It has its own Mast to ensure efficient radio communication…which is backed-up by a 24/7 control room at the headquarters.
InterSec does a lot of training to ensure a disciplined and competitive guarding force. Training is demand-driven and tailored to the needs of the customers. The Marketing Manager confirmed that InterSec has obtained land where it is going to put a training centre to enhance the company’s training program. The facility would also benefit other security institutions that may need to use it.
InterSec upholds the wellbeing of its staff, guided by the national labour law. Beyond that, the company has an insurance cover for all its guards based on the nature of risks (high) involved. Besides, each security guard and four members of his family are entitled to Mitualle de Santé (national health insurance scheme). Some other members of staff are subscribed to RAMA.
Corporate Social Responsibility
InterSec is indeed a good corporate citizen. Mr. Celestin explains that based on the company’s financial capacity, a number of social development initiatives have been supported. He highlights a few to include, but not limited to; support to Twelve Year Basis Education Programme (12YBE), One-cow-per-poor family (Girinka) programme, One-Dollar Campaign—where each staff at InterSec contributed. He adds that InterSec has sponsored a number of initiatives including Miss Rwanda, and other young local artists. Soon, InterSec will be sponsoring the Rwanda National Police football club.
Bye and large, the success of InterSec, 17 years in security business, is best summarized as the ability to offer a disciplined guarding force, quality service delivery, regular training and capacity building of staff, especially guards and adequate facilities equipment and logistical support. As though other competing security firms provide almost similar services, the innovation that comes with InterSec service packages beats them all. Moreover, as the adage goes: “experience is the best teacher”, the company has comparatively been around longer than competitors and thus more experienced in this market.