Using the words “work” and “home” in the same sentence usually stirs up a mixture of delight and disapproval – in almost equal parts.&nbsp;



On the one hand, those lucky enough to work from home tend to experience the sense of euphoria that comes from escaping the watchful gaze or sometimes intense glare of those in charge.&nbsp;



In sharp contrast, a mere mention of the concept of remote work plunges an increasing number of bosses into a sense of “productivity paranoia”.&nbsp;



Productivity paranoia refers to a boss’ heightened suspicion, scepticism or speculation that their employees are not being as productive while working from home, a local coffee shop or a co-working space.&nbsp;&nbsp;&nbsp;



The trending phenomenon, which sits alongside a bundle of other buzzwords generated by our workplace behaviors so far this year (think: quiet quitting, quiet firing, loud leadership), was revealed in Microsoft’s latest Work Trend Index.&nbsp;



The index declared that 87% of workers thought they were just as productive – if not more so – when working from home.&nbsp;



At the same time, only 12% of bosses felt fully confident that those working remotely were as productive as those sitting behind their desks in the office.&nbsp;



While employees work harder than ever, bosses simply do not believe them. In fact, some bosses label the practice of working from home as nothing short of a pantomime of productivity.&nbsp;



While the huge gulf between what managers and workers feel might come as a shock, the truth is some bosses have never truly embraced remote work practices.&nbsp;



At the heart of the kerfuffle between managers and remote-operating staff is the questionable assumption that workers are more productive when they are under the watchful eye of their supervisor.&nbsp;&nbsp;



Yet being in the office does not guarantee productivity.&nbsp;&nbsp;



Some workers fake productivity by appearing busy online, staying back late to keep up appearances, participating in endless purposeless meetings, engaging in superficial conversations with colleagues or making mountains out of molehills to portray an essence of efficiency.&nbsp;



Bosses’ productivity paranoia prevails despite remote workers claiming they tend to get more done from their loungerooms without the daily distractions of chatty colleagues and the frustrations of a time-sucking daily commute.&nbsp;



You will realize your boss has a bad case of productivity paranoia when you work from home and are asked to account for how you spent a day away from the workplace, when additional “supervisory” type meetings suddenly drop into your calendar or when you receive a high volume of calls or texts to “check in” on your progress on specific work tasks.&nbsp;



Perhaps worse, you will know your boss has an extreme case of productivity paranoia when they have some form of “bossware” installed on technology used in remote settings. It is a form of software that allows managers to spy on their employees’ online activity – or lack of it.&nbsp;



It is hard to explain why productivity paranoia has risen to such highs among managers.&nbsp;&nbsp;



A number of theories are emerging including that bosses feel they lack control when their employees are out of sight or miss the feeling of having team members running after them, looking up to them and paying them compliments.&nbsp;



It is also a firm possibility that well-meaning bosses have not been given adequate training to be able to manage in a remote-working office environment.&nbsp;&nbsp;&nbsp;



Organizations afflicted with productivity paranoia are likely to suffer the consequences.&nbsp;



Fear around the lack of productivity of those working remotely might lead to valued and highly capable employees quitting, cause those working at home to engage in productivity theatrics to prove a point or contribute to the emergence of workplace cultures that are characterized by mistrust, disrespect and inequality.&nbsp;



There will always be those who take full advantage of a lack of direct supervision while working remotely.&nbsp;&nbsp;&nbsp;



Regardless of whether an employee is working in the office or virtually, we will never fully know exactly what every employee is doing 100% of the time.&nbsp;



What every boss needs to realize is employees have fully embraced flexible work and that means remote work is here to stay.&nbsp;&nbsp;



It will require those with productivity paranoia to shift their mindset from one locked into “I can’t see you so I don’t know what you are up to” to a different way of thinking which asks remote workers “if you have everything you need to get your job done”.&nbsp;



Gary Martin- The writer and professor is Chief Executive Officer of the Australian Institute of Management WA

Closeup shot of an unrecognizable woman using a laptop while working from home

Why WFH Has Become A Pantomime Of Productivity For Some

The National Basketball Association (NBA) draft is always an exciting time of the year when teams in the greatest league on earth get to refresh their squads with the best young talent available. FORBES AFRICA takes a look at the eight players who were part of this season’s draft, some of who have gone straight to their new franchises, while others will earn experience elsewhere with the long-term goal in mind. 



By Nick Said 



Africa has a deep-rooted legacy in the NBA and provided star names in the past such as Hakeem Olajuwon, Dikembe Mutombo, Manute Bol and Luol Deng. This year, we got to see a new crop of players with ties to the continent, who have set their sights on fame and glory on the court. Here they are: 



Christian Koloko  Draft: Selected 33rd overall by the Toronto Raptors 


<div class="wp-block-image">
<figure class="aligncenter size-full is-resized"><img decoding="async" loading="lazy" src="https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1246238247.jpg" alt="" class="wp-image-57344" width="647" height="431" srcset="https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1246238247.jpg 1024w, https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1246238247-300x200.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1246238247-768x512.jpg 768w" sizes="(max-width: 647px) 100vw, 647px" /><figcaption> (Photo by Cole Burston/Getty Images)</figcaption></figure></div>


Koloko became the first Cameroonian selected in the NBA draft since Toronto’s Pascal Siakam in 2016 and is the third highest drafted player from the Central African country of all time behind the latter and Joel Embiid, who was third in 2014.  Born in Douala, the 22-year-old was spotted at the Basketball Without Borders (BWB) Africa talent scouting camp in Senegal in 2017, and was taken to the United States where he played for Birmingham High School, despite speaking no English.  The center later featured for the University of Arizona before being drafted by Toronto.  



Yannick Nzosa  Draft: Selected 54th overall by the Washington Wizards 


<div class="wp-block-image">
<figure class="aligncenter size-full is-resized"><img decoding="async" loading="lazy" src="https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1239215594.jpg" alt="" class="wp-image-57343" width="625" height="417" srcset="https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1239215594.jpg 1024w, https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1239215594-300x200.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1239215594-768x512.jpg 768w" sizes="(max-width: 625px) 100vw, 625px" /><figcaption> (Photo by Flaviu Buboi/NurPhoto via Getty Images)</figcaption></figure></div>


Nzosa was only 18 when he was drafted by Washington Wizards, who have sent him to Spanish side Real Betis to get experience in the 2022/23 season. Soccer was his first love and he started as a goalkeeper given his tremendous height, before being spotted by the coach of a local basketball club in Kinshasa.  He attempted to go to an academy in Spain as a 13-year-old, but was denied a visa, and instead went to Stella Azzurra Roma, though he later was controversially taken to Spain by his mentor Joe Lolonga without the Italian club’s permission.   He made his debut for his new side Unicaja at the age of 16 and was an instant hit, even if injury has slowed his progress recently. 



  Ousmane Dieng  Draft: Selected 11th overall by the New York Knicks 


<div class="wp-block-image">
<figure class="aligncenter size-full is-resized"><img decoding="async" loading="lazy" src="https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1446348654.jpg" alt="" class="wp-image-57347" width="556" height="371" srcset="https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1446348654.jpg 1024w, https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1446348654-300x200.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1446348654-768x512.jpg 768w" sizes="(max-width: 556px) 100vw, 556px" /><figcaption>(Photo by Jonathan Bachman/Getty Images)</figcaption></figure></div>


Dieng’s family are from Senegal, though the shooting guard was born in France and has had a circular route to the NBA.  He moved to New Zealand Breakers in 2021 and competed in the National Basketball League (NBL). While there he joined the league’s Next Stars program which specifically looks to develop NBA draft prospects. It worked as he was snapped by the New York Knicks ahead of the 2022/23 season, though he was immediately traded to the Oklahoma City Thunder. He is still only 19. 



 &nbsp;



Khalifa Diop  Draft: Selected 39th overall by the Cleveland Cavaliers 


<div class="wp-block-image">
<figure class="aligncenter size-full is-resized"><img decoding="async" loading="lazy" src="https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1246319180.jpg" alt="" class="wp-image-57345" width="508" height="338" srcset="https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1246319180.jpg 1024w, https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1246319180-300x200.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1246319180-768x512.jpg 768w" sizes="(max-width: 508px) 100vw, 508px" /><figcaption>Photo by Alberto Gardin/NurPhoto via Getty Images)</figcaption></figure></div>


The 20-year-old from Guereo, Senegal, is another who has been making a name in Spain, where he plays for Gran Canaria. He was drafted for the Cleveland Cavaliers but has been sent back to Gran Canaria to gain experience during the 2022/23 season. The center, who stands at an impressive 2.11 meters tall, first rose to prominence in the Basketball Without Borders (BWB) game at the NBA All-Star match in 2019.    Ochai Agbaji  Draft: Selected 14th overall by the Washington Wizards 


<div class="wp-block-image">
<figure class="aligncenter size-full is-resized"><img decoding="async" loading="lazy" src="https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1454282748.jpg" alt="" class="wp-image-57348" width="582" height="386" srcset="https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1454282748.jpg 1024w, https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1454282748-300x200.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1454282748-768x511.jpg 768w" sizes="(max-width: 582px) 100vw, 582px" /><figcaption> (Photo by Alex Goodlett/Getty Images)</figcaption></figure></div>


Agbaji&#8217;s father, Olofu, moved from Nigeria to the United States when he was 17 in order to play basketball for the University of Wisconsin-Milwaukee, though initially he encouraged his son to play soccer.  But when Ochai grew nine inches in a single year it became clear he had all the attributes to be a top baller and was a star for the University of Kansas.  The shooting guard was selected in the draft by the Washington Wizards, but they traded him to Utah Jazz in September before the season started. There he plays alongside fellow Nigerian Udoka Azubuike.     Mark Williams  Draft: Selected 15th overall by the Charlotte Hornets 



Center Williams was selected by Charlotte Hornets in the draft but is spending the season with their affiliate side Greensboro Swarm. He is an alumnus of Duke University and starred for them, catching the eye of a number of teams around the country. Williams’ older sister Elizabeth is a star of the Women’s NBA and his parents are both doctors who emigrated from Nigeria. 



  Moussa Diabate  Draft: Selected 43rd overall by the Los Angeles Clippers 


<div class="wp-block-image">
<figure class="aligncenter size-full is-resized"><img decoding="async" loading="lazy" src="https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1428443282.jpg" alt="" class="wp-image-57346" width="641" height="427" srcset="https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1428443282.jpg 1024w, https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1428443282-300x200.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1428443282-768x512.jpg 768w" sizes="(max-width: 641px) 100vw, 641px" /><figcaption>(Photo by Harry How/Getty Images)</figcaption></figure></div>


Diabate’s parents are from Mali and Guinea, and he was snapped by Los Angeles Clippers in the draft after shining for the University of Michigan. He has been sent to affiliate club Ontario Clippers, where he will spend the 2022/23 season as he makes his way in the game. Diabate was part of the Basketball Without Borders (BWB) game at the NBA All-Star match in 2020. 



  Ismaël Kamagate  Draft: Selected 46th overall by the Detroit Pistons 



Kamagate will play the 2022/23 season with Paris Basketball having been loaned back to them by his new NBA employers Denver Nuggets.  In a snapshot of how complex things can get in the NBA, Detroit Pistons selected the 21-year-old in the draft having scouted him in the French league, where he has been a star. But they immediately traded him to Portland Trail Blazers, who then traded Kamagate again to the Denver Nuggets, who have now sent him to Paris. Born to Ivorian parents, he was named best defender in the French competition in 2022.

Basketball dribble

Tall Talent: Africa’s Basketball Stars

<blockquote class="wp-block-quote">“Very little has been committed to climate adaptation finance in Africa…” – Dr Agnes Kalibata</blockquote>



By Ridhima Shukla



The small, snow-capped town of Davos, Switzerland, witnessed freezing temperatures and heated debates this past week.



At this year’s World Economic Forum (WEF) in Davos, themed Cooperation in a Fragmented World, more than 500 CEOs of the world’s biggest firms attended alongside A-list celebrities such as Idris Elba with his wife Sabrina, and social media influencers, promoting a diverse mix of thought-leaders and thinkers.



Climate change, aptly, took center-stage in discussions this year, as energy companies turned up in greater numbers as also financial institutions playing a critical role in just energy transition around the world.



The triple threat of conflict, climate and cost, to which Africa has made little contribution but has been disproportionately impacted by, was also a central theme of the discussions at WEF.



Organizations like AGRA, IFAD, UNAIDS and several others were in attendance to promote the needs of the African continent in the context of global inflation leading to higher costs of living for ordinary Africans.



Alvaro Lario, the President of IFAD, stressed on the need to act now: “Farmers in Africa are having to choose between planting and eating – this needs to be addressed more urgently than before.”



While urgency is the need of the hour, the investments that have come through in the last decade for agro industries fall short of what is required, shared Lario. “The G7 could only commit to $5 billion to build food security globally leaving a deficit of $2 billion.”



This deficit is not isolated to food security funds but also climate adaptation in Africa, an issue AGRA President Dr Agnes Kalibata was at Davos for: “Very little has been committed to climate adaptation finance in Africa…. even though that is what our farmers need. I am also here to discuss how the world’s emission plans are turning out and their impact on Africa.”



Despite global pressures, Africa’s investment landscape is gaining attention, shared the CEO of ABSA Bank, Arrie Rautenbach, at WEF: “There is renewed interest in Africa, especially with African Continental Free Trade Area; it poses a big opportunity for Africa.”



Additionally, Africa has everything going for it to claim the biggest slice of the world’s trade pie, as mentioned by Patrick Njoroge, Governor of the Central Bank of Kenya: “Twenty five percent of the world’s workers will be African by 2050; we must think long-term growth, we have all the resources.”



Keeping long-term issues in mind, the forum’s discussions were about sustainable solutions, ranging from energy transition, reimagining globalization, inclusion and diversity, as well as the space economy, to prepare the world to collaborate and share equally in all future crises.

Activists in Davos stage a protest against World Economic Forum

From The Alps To Africa: The Triple Threats Of Cost, Climate And Conflict

The misuse of artificial intelligence and the cost of deepfakes in a post-truth era. 



By Tiana Cline



In the beginning, it was a lot of fun. Anyone could create a deepfake video to merge their face with that of a celebrity. At first, these videos were shared across social media as a parody and everyone laughed. What could be better than becoming the star of your favorite streaming series? But now the technology has evolved. It has become more sophisticated to the point where it’s not as easy to tell what is real or not. From misinformation to identity theft, deepfake porn and copyright infringements, the misuse of artificial intelligence (AI) is far from entertaining – it’s an epidemic.  



“As technology&#8217;s power increases, so the ability to cause harm increases exponentially,” says Professor Johan Steyn, a Research Fellow at the School of Data Science and Computational Thinking at Stellenbosch University in South Africa and Adjunct Professor at the School of Business at Woxsen University in India.&nbsp;&nbsp;



“From both a legal and a government ethics point of view, it’s a massive problem and I don’t know how it is going to be regulated. How do you present evidence to a court of law when you cannot confirm if a video or voice is authentic? There’s almost no way of proving deepfakes are authentic.”&nbsp;&nbsp;



There are currently over 80 different deepfake software apps, many of which are free and allow anyone to take advantage of the advancement of AI. Deepfakes use artificial neural networks – data pattern-recognition systems that are trained to identify (and reconstruct) patterns. The technology is mind-blowing.&nbsp;&nbsp;



It gained Miles Fisher – a Tom Cruise lookalike and AI entrepreneur – nearly four million followers on social media. His TikTok account, ‘deeptomcruise’, has unofficially made him the poster child of the deepfake movement. The person behind the videos, Chris Ume, is a Belgian visual effects artist and the co-founder of an AI-generated content company called Metaphysic.ai.&nbsp;&nbsp;



“There’s a big philosophical, ethical and societal lens to deepfakes,” adds Steyn. “We&#8217;re living in a world where we cannot trust almost anything. There are limited ways in verifying the authenticity of something and the technology that should have brought us together and empowered us with knowledge is doing the exact opposite.”&nbsp;



One of the most interesting deepfake use cases is happening in the advertising sector. Where actors were once paid undisclosed sums for appearing in TV advertisements, some agencies are resorting to using deepfakes instead – with or without their consent. An advert for a Russian telecoms company starring Bruce Willis went viral and it was reported that the actor sold his image rights. It turned out that Willis was a deepfake and the agency that made the advert (called Deepcake) simply mapped a digital version of his appearance onto another actor. If images and videos of Willis are readily available to do this, it questions how anyone can protect their own identity.&nbsp;&nbsp;



“In the future of AI, people will not be quantum physicists or machine learning engineers but philosophers and ethicists. We’re now in a post-truth era and thanks to the power of technology. You can no longer trust anything or anyone,” warns Steyn. “If you’re a critical thinker, fake news should be relatively easy to pick up. Deepfakes are more serious. What happens when a bank, for example, accepts voice as a proof of identity?”&nbsp;



The link between deepfakes and cybercrime is inevitable. Throughout Africa, phishing remains one of the continent’s biggest threats and by using deepfake technology, cybercriminals will be able to increase the effectiveness of their attacks exponentially. “Any new technology, development or technology will inevitably be exploited by criminals to target the vulnerable or unwary,” says Carl Wearn, Mimecast’s Head of Threat Intelligence Analysis and Future Ops. “The quicker they can utilize a new technology, before it is properly understood or awareness of it is raised, the more likely they are able to monetize some form of it.”&nbsp;



With deepfakes, cybercrime can be socially engineered because threat actors (posing as friends, family, or colleagues) exploit the inherent trust that comes with interpersonal relationships. “Deepfakes are at their core seeking to exploit key relationships to compel action,” adds Wearn. “As the technology matures – aided by machine learning and AI – this will almost certainly become indistinguishable to the real thing for ordinary humans when undertaking virtual or telephony-communication medium reliant interactions.”&nbsp;&nbsp;



Deepfakes scams are increasing. They’re not only being used in cyberbullying and smear campaigns to harass and silence individuals; synthetic identity fraud can cost businesses and government millions. “People are, for example, edited into a humiliating video that is then spread on social media highlights the risk for public figures and activists,” says Vladislav Tushkanov, a Lead Data Scientist at Kaspersky. Scammers recently used a deepfake interview with Elon Musk to promote a cryptocurrency scam called BitVex. The CEO of a British energy firm was tricked out of $243,000 by a voice deepfake from the head of his parent company requesting an emergency transfer of funds. And in the United Arab Emirates, bank robbers deepfaked the voice of a company executive to an unsuspecting bank manager – it was reported that he recognized the voice and then authorized a transfer of $35 million.&nbsp;&nbsp;



“Deepfakes can significantly undermine trust in audio and video content,” adds Tushkanov. “Deepfakes, and mis- and disinformation, is a rising concern around the globe. It is particularly worrying that deepfakes can be used to incite violence and stoke civil unrest. This places high importance on public education and raising awareness about this technology, as well as furthering digital literacy.”  



<h2 id="h-how-to-spot-a-deepfake">How to spot a deepfake?&nbsp;</h2>



“It all starts by having good cybersecurity procedures and practices in place – not only in the form of antivirus software, but also in the form of developed IT skills and cybersecurity awareness of the employees,” says Tushkanov. “The following are key characteristics of deepfake videos to be aware of and look out for, to avoid becoming a victim: jerky movement; shifts in lighting from one frame to the next; shifts in skin tone; strange blinking or no blinking at all; lips poorly synched with speech; digital artifacts in the image; and video is intentionally encoded down in quality with poor lighting.”

3D virtual reality space and people

When Seeing Is No Longer Believing: An African Take On The Cost Of Deepfakes

When award-winning artwork can be generated by algorithms, where does that leave artists?



By Tiana Cline 



What is an artist? In the age of artificial intelligence, machine learning and text-to-image tools, it’s questionable. Anyone with a computer can generate stunning images in seconds thanks to tools like Midjourney, DALL-E, Stable Diffusion and Craiyon. These algorithmic programs, which work with text prompts and data sets, are already starting to shift the creative economy. In August 2022, an American game designer named Jason Allen won first place at the Colorado State Fair Fine Arts Competition. His award-winning work – which has been described as ‘Renaissance meets steampunk’ – was created using Midjourney. And even though the category in which Allen came first was ‘digital arts/digitally-manipulated photography’, it left a lot of people in the creative world angry, questioning whether this kind of AI-generated art could replace human artists.&nbsp;&nbsp;



“There&#8217;s no doubt that the whole visual world is totally oversaturated with imagery. I know a lot of people who do AI art. I see it on Instagram or Facebook and some of the images have stuck in my head,” says Roger Ballen, an American artist who lives in Johannesburg, South Africa. “So, I think they’re successful from the point of view of conveying an aesthetic message from one person to another. And how they were able to achieve this, is this important or not important?”&nbsp;&nbsp;



For some industries, AI-generated art is simply a natural progression of where we’re heading – it’s a key part of Web3, the metaverse and how AI algorithms can be integrated into different industries. According to Midjourney founder David Holz, business owners, game designers and people in the movie industry use the tool for storyboarding, strategy and content development. But that’s not where AI-art ends. The Economist used Midjourney to produce one of its 2022 covers and The Atlantic chose AI-generated art for an editorial in lieu of hiring an illustrator – going so far as to credit Midjourney as the artist.&nbsp;&nbsp;



For Ballen, AI-generated art is similar to a computer beating a world chess champion – it’s inevitable. “You look at the work that&#8217;s been done and some of it is amazing. This is where we&#8217;re going – going into a world where our lives and viewpoints and experiences are more virtual rather than physical and it’s happening at an accelerating pace, he says. “I’ve been doing photography for 54 years now. When I started, you needed to go to university and there was a lot of training that took place to get there. Now anyone can do photography. For one photograph that was produced 30 years ago, there may be 50,000 now.”&nbsp;



Plagiarism by machine&nbsp;



There are many ethical considerations around creating (and selling) AI-generated art. AI often reflects human bias which means that the images contained in online datasets are subjective to what is available online.&nbsp;&nbsp;



Ballen questions being able to put a price on an artwork when the material comes from endless sources. He also asks if there is a difference between using an image of a tree (as one example) or from a well-known artist. “Some of these people are trying to produce works of art but actually, the work itself isn&#8217;t necessarily theirs – it&#8217;s an amalgamation of other people&#8217;s work compiled by a computer. So, the issue then is can that person sell it as their own when it&#8217;s ultimately other people&#8217;s work?”&nbsp;



Joh Del, a Cape Town-based artist and illustrator’s understanding that that all artists learn from other pieces of art – both human and AI. “Every time you put something out into the world, someone else can see it, and learn from it. I think almost all species of animals on earth learn from each other,” says Del.&nbsp;&nbsp;



Mikhael Subotzky, an award-winning artist based in South Africa, doesn’t see AI-generated art as something fundamentally new or different. “I think that the power and relevance of art is that its boundaries are always expanding – there should be space for every kind of art,” he says. For Subotzky, the trickiest issue is copyright. “There really should be a way for artists to opt in or out of the algorithms learning from their work. Or even a royalty system where they get a cent or whatever for every time their work is used in this way. Of course, this would require a fundamental change in how images circulate. I wish that the blockchain crowd would focus on this type of thing rather than the latest NFT prices.”&nbsp;



For now, the law is yet to catch up with the advances in AI technology. Under copyright law, copyright depends on human input and AI-generated art is made by machine. In order to avoid future legal issues, Getty Images has banned the sale of AI generative artwork created using image synthesis models. “In one way, it’s an image that somebody initiated to put on a wall and show other people and on the other hand, it’s a mixture of other people’s property. In the commercial world you have copyrights, you have patents, you have rights of property and with this, it’s not as clear because it’s a mishmash of thousands of things that are put together into an artwork,” says Ballen. “You have to look at the image itself. You have to deal with the aesthetics in the image, the message in the image, the type of artwork, where the information came from, how it was put together – there&#8217;s all sorts of things that make it almost impossible to come up with a clear answer… where this ends and where it begins, I don’t know.” 



But Is It Art?&nbsp;



“I’m the type of person who believes in the autonomy of the work, that you don’t necessarily need to know anything about the artist, the place, the time – anything,” says Roger Ballen. “It doesn&#8217;t matter whether you know anything about anything. Art should be like coming into contact with a flower. All of a sudden, you smell it, you feel it, the color leaves an imprint on you and you don’t necessarily need to be a botanist, all that matters is the experience of the art itself.”&nbsp;&nbsp;

Screenshot 2023-01-13 at 19.07.53

The Rise Of AI Art: An African Perspective

BY MARK GLEESON


<div class="wp-block-image">
<figure class="aligncenter size-large is-resized"><img decoding="async" loading="lazy" src="https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1244513639-1024x683.jpg" alt="" class="wp-image-57259" width="511" height="340" srcset="https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1244513639-1024x683.jpg 1024w, https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1244513639-300x200.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1244513639-768x512.jpg 768w, https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1244513639-1536x1024.jpg 1536w, https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1244513639-2048x1365.jpg 2048w" sizes="(max-width: 511px) 100vw, 511px" /><figcaption>(Photo by Jon Hobley/MI News/NurPhoto via Getty Images)</figcaption></figure></div>


Taiwo Awoniyi: The Nigerian got his dream move back to England’s Premier League with newly promoted Nottingham Forest after his previous spell as a teenager at Liverpool did not see him achieve the breakthrough he craved. Now mentally tougher after a spell in the Bundesliga with Union Berlin, Awoniyi is expected to become the lead striker in the Super Eagles line-up.&nbsp;


<div class="wp-block-image">
<figure class="aligncenter size-large is-resized"><img decoding="async" loading="lazy" src="https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1244021892-768x1024.jpg" alt="" class="wp-image-57258" width="317" height="423" srcset="https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1244021892-768x1024.jpg 768w, https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1244021892-225x300.jpg 225w, https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1244021892-1152x1536.jpg 1152w, https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1244021892-1536x2048.jpg 1536w, https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1244021892-scaled.jpg 1920w" sizes="(max-width: 317px) 100vw, 317px" /><figcaption> (Photo by Rico Brouwer/Soccrates/Getty Images)</figcaption></figure></div>


Calvin Bassey: Despite growing up in London, the Nigerian fullback has had to take a roundabout route in his career in a bid to try and play in the world’s richest league. He hails from a troubled neighborhood and says football was his way out, making a breakthrough first at Scotland’s Glasgow Rangers and now catching the eye at Ajax Amsterdam, putting him on course for a return to England.&nbsp;


<div class="wp-block-image">
<figure class="aligncenter size-large is-resized"><img decoding="async" loading="lazy" src="https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1243044805-1024x900.jpg" alt="" class="wp-image-57256" width="488" height="429" srcset="https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1243044805-1024x900.jpg 1024w, https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1243044805-300x264.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1243044805-768x675.jpg 768w, https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1243044805-1536x1350.jpg 1536w, https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1243044805-2048x1800.jpg 2048w" sizes="(max-width: 488px) 100vw, 488px" /><figcaption>(Photo by David Horton &#8211; CameraSport via Getty Images)</figcaption></figure></div>


Patson Daka: At club level, Daka is already playing among the best in the world in the Premier League but it is now with the Zambian national team that he is set to prove his ability. Zambia are in desperate need of revival and Daka is the man to lead them back to past glories as they will have qualifying for the next Africa Cup of Nations finals top of their agenda for 2023.&nbsp;


<div class="wp-block-image">
<figure class="aligncenter size-large is-resized"><img decoding="async" loading="lazy" src="https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1379130229-761x1024.jpg" alt="" class="wp-image-57261" width="376" height="506" srcset="https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1379130229-761x1024.jpg 761w, https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1379130229-223x300.jpg 223w, https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1379130229-768x1033.jpg 768w, https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1379130229-1142x1536.jpg 1142w, https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1379130229-1522x2048.jpg 1522w, https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1379130229-scaled.jpg 1903w" sizes="(max-width: 376px) 100vw, 376px" /><figcaption>(Photo by MB Media/Getty Images)</figcaption></figure></div>


Ibrahima Koné: The imposing center forward from Mali has already drawn comparisons with Belgium’s goalscoring ace Romelu Lukaku, given his muscular frame and strength on the ball. He has played a leading role in helping unfashionable Lorient emerge among the French league frontrunners this season and caught the eye of the bigger clubs.&nbsp;


<div class="wp-block-image">
<figure class="aligncenter size-large is-resized"><img decoding="async" loading="lazy" src="https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1433139412-683x1024.jpg" alt="" class="wp-image-57263" width="362" height="543" srcset="https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1433139412-683x1024.jpg 683w, https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1433139412-200x300.jpg 200w, https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1433139412-768x1151.jpg 768w, https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1433139412-1024x1536.jpg 1024w, https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1433139412-1366x2048.jpg 1366w, https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1433139412.jpg 1388w" sizes="(max-width: 362px) 100vw, 362px" /><figcaption> (Photo by Ben Gal/Orange Pictures/BSR Agency/Getty Images)</figcaption></figure></div>


Mohammed Kudus: The Ghanaian has overcome serious injury to bed down a place at Ajax Amsterdam, where this season he has been successfully converted into a center forward on occasion and scored in the Champions League. His versatility marks him out for a transfer to one of the clubs in the big five European leagues as his Dutch team are famous for selling their most exciting players.&nbsp;


<div class="wp-block-image">
<figure class="aligncenter size-large is-resized"><img decoding="async" loading="lazy" src="https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1431872453-768x1024.jpg" alt="" class="wp-image-57262" width="385" height="513" srcset="https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1431872453-768x1024.jpg 768w, https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1431872453-225x300.jpg 225w, https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1431872453-1152x1536.jpg 1152w, https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1431872453-1536x2048.jpg 1536w, https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1431872453-scaled.jpg 1920w" sizes="(max-width: 385px) 100vw, 385px" /><figcaption> (Photo by Joris Verwijst/Orange Pictures/BSR Agency/Getty Images)</figcaption></figure></div>


Reinildo: Mozambique is the country that produced African greats like Eusebio and Mario Coluna but it has been generations since they have given the game another superstar. Fullback Reinildo might just be that man, having already won France’s Ligue 1 with Lille and now chasing Champions League glory with Atletico Madrid of Spain, who bought him last season in an expensive move.&nbsp;


<div class="wp-block-image">
<figure class="aligncenter size-large is-resized"><img decoding="async" loading="lazy" src="https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1243091479-1024x683.jpg" alt="" class="wp-image-57257" width="585" height="390" srcset="https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1243091479-1024x683.jpg 1024w, https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1243091479-300x200.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1243091479-768x512.jpg 768w, https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1243091479-1536x1024.jpg 1536w, https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1243091479-2048x1365.jpg 2048w" sizes="(max-width: 585px) 100vw, 585px" /><figcaption>(Photo by Photo Prestige/Soccrates/Getty Images)</figcaption></figure></div>


Ibrahim Sangaré: There is always a market for a powerful midfield general, with a never-tiring engine, running, tackling and playing the role of enforcer in the middle of the park and it is only a matter of time before the Ivory Coast international hardman makes a move from Dutch club PSV Eindhoven to a club in either England, Spain or Germany.&nbsp;


<div class="wp-block-image">
<figure class="aligncenter size-large is-resized"><img decoding="async" loading="lazy" src="https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1238143674-683x1024.jpg" alt="" class="wp-image-57255" width="354" height="531" srcset="https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1238143674-683x1024.jpg 683w, https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1238143674-200x300.jpg 200w, https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1238143674-768x1152.jpg 768w, https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1238143674-1024x1536.jpg 1024w, https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1238143674-1365x2048.jpg 1365w, https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1238143674-scaled.jpg 1707w" sizes="(max-width: 354px) 100vw, 354px" /><figcaption>(Photo by Haykel Hmima/Anadolu Agency via Getty Images)</figcaption></figure></div>


Edmond Tapsoba: The Burkinabe defender has among the best figures in the German Bundesliga – pass rate, tackles and intercepts but also fouls committed and a harsh reputation for indiscipline. But it is his commitment that sees him often on the wrong end of the referee’s whistle, a characteristic that has ironically endeared him to the Bayer Leverkusen fans.&nbsp;


<div class="wp-block-image">
<figure class="aligncenter size-large is-resized"><img decoding="async" loading="lazy" src="https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1348682495-768x1024.jpg" alt="" class="wp-image-57260" width="445" height="593" srcset="https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1348682495-768x1024.jpg 768w, https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1348682495-225x300.jpg 225w, https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1348682495-1152x1536.jpg 1152w, https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1348682495-1536x2048.jpg 1536w, https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1348682495-scaled.jpg 1920w" sizes="(max-width: 445px) 100vw, 445px" /><figcaption>(Photo by Jeroen Meuwsen/BSR Agency/Getty Images)</figcaption></figure></div>


Tarik Tissoudali: A horror knee injury robbed the striker of a chance to lead the attack for Morocco at the World Cup in Qatar but he is expected to bounce back in 2023 and continue his scoring form, both at club level in Belgium, and for his country. An opportunist striker, he is also expecting to be a transfer target at the end of the season.&nbsp;


<div class="wp-block-image">
<figure class="aligncenter size-large is-resized"><img decoding="async" loading="lazy" src="https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1436792831-1024x683.jpg" alt="" class="wp-image-57264" width="627" height="418" srcset="https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1436792831-1024x683.jpg 1024w, https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1436792831-300x200.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1436792831-768x512.jpg 768w, https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1436792831-1536x1024.jpg 1536w, https://cms.forbesafrica.com/wp-content/uploads/2023/01/GettyImages-1436792831-2048x1366.jpg 2048w" sizes="(max-width: 627px) 100vw, 627px" /><figcaption> (Photo by Joris Verwijst/Orange Pictures/BSR Agency/Getty Images)</figcaption></figure></div>


Abakar Sylla: The Ivorian fullback made a huge impact in the Champions League group stage from September to November as his unfashionable Belgian side Club Brugge won through to this year’s knockout stages, confounding expectations with some shock victories, and at the age of 19 he is sure to be on his way to a much more glamorous destination in mid-year.&nbsp;

Screenshot 2023-01-10 at 10.57.55

10 African Soccer Stars To Watch In 2023

Blue and Pink Gradient Motivational Quote Twitter Post (1)

Part 2: Ventures And Valuations: Africa’s Billion-Dollar Startups￼

Jemima Kakizi Akimanizanye is adding to Rwanda’s aesthetic appeal with her transformative art and addressing the country’s youth population on the cusp of change.



By Caissy Christine Nakure



The tiny East African country of Rwanda is known for its rolling hills, verdant valleys and immaculate green spaces.



Now there is art too complementing the country’s incredible visual appeal, thanks to the efforts of multidisciplinary artist Jemima Kakizi Akimanizanye.



Hired by UNICEF Rwanda for a project to create items that encourage young children to learn about climate change through art, Akimanizanye was inspired to start her own journey making a difference with the paintbrush.



Her experience with UNICEF challenged her to think beyond her art, to use her talent to also address issues in her community.



“When I was introduced to environment issues, and that there are things we can do to fight climate change, I saw a huge contribution that I could make, which is when I started art installations using plastic and waste,” says Akimanizanye to FORBES AFRICA.



The 30-year-old, who likes painting early in the morning, was destined for the art world. At a young age, she would create interesting objects from anything she could lay her hands on. These included handmade jewelry and pieces of clothing she would later offer to friends and family.



Growing up, she went to an art school in Rwanda’s Western Province three and half hours from her home in the city of Kigali. She always wanted to become an artist but didn’t know where and how to start.



She started with people’s portraits, and when she sold her first work, realized it could become her full-time occupation. Word about her work spread.



Today, she has espoused serious causes and is using art for advocacy.



“There are a lot of things still considered taboo in our society, like reproductive health, sexual harassment, gender-based violence, mental health and for our society to change, we need education as a new generation; children are exposed to the internet and they might come across the wrong information, that is why I use art to communicate about these things,” says Akimanizanye, addressing the country’s burgeoning youth population.



“I want to start these conversations because I want to see change in my community. Children will not come to you [when] you are not open to those conversations, which is why you see a lot of early pregnancies and sexual violence.”



Over the last couple of years, Akimanizanye has taken the lead to become the voice of female artists wanting the visibility they deserve, compared to their male counterparts.



Akimanizanye has been organizing exhibitions to showcase art speaking to social issues. She has also brought female visual artists together to create a collective platform.



“We need to wake up, take up space and stop complaining, that is why I started creating exhibitions for female artists. Ever since, we are seeing a huge difference and the sales have increased. It was something I had thought of for years but was afraid to do, but now, I am happy I took that initiative.”



Sourcing quality materials to enable her work has also been a challenge, as they need to be imported from abroad.



Opportunities abound for investors in the growing sector though, as Rwanda only has one art school, Ecole d’Arts de Nyundo, located in Rubavu District in the Northern Province. The creative industry has been evolving in the country. The government’s ‘Made in Rwanda’ policy has encouraged the public and private sectors to support local artists, and promote their products in the local and international markets.



“You can heal through art, you can learn. A lot is happening and we shouldn’t be left behind,” says Akimanizanye. “Because I had people who supported me, I love supporting others and see them grow; it makes me happy and though we appreciate what has been done, we need more support to grow further.”

Using art for social change, Akimanizanye with her artists’ collective

Art For Advocacy And Adding To Rwanda’s Aesthetic Appeal

Everywhere you go, the smell of woodfire reminds you that you&#8217;re deep in Africa. But signs of progress are slowly emerging in the Central African Republic, as this writer found. 



By Paula Slier



It never ceases to amaze me when I travel abroad and tell people I’m from South Africa that there is always someone who asks: “Where is that?” I can’t help, slightly arrogantly, thinking to myself that if there’s one country in the world with a clue in its name, surely it’s South Africa?&nbsp;



Turns out no. I was left red-faced after I was informed I’d be going to the Central African Republic for a work trip and my exclamation of “I’d love to” was followed with a frantic googling of where CAR, as it’s affectionately known, is. This country of almost six million people is landlocked by Chad, Sudan, the Democratic Republic of the Congo and Cameroon in…. the center of Africa!&nbsp;



Despite – or perhaps because of – its significant mineral wealth, it’s among the 10 poorest countries in the world with the lowest GDP per capita. For generations, foreign powers have fought over its natural reserves. France ruled the country as a colony from the late 19th century until its independence in 1960. Today Russia is a significant player after helping government forces repel rebels from the capital, Bangui, in 2019. There’s a statue in the middle of the city showing Russian soldiers standing guard while women and children cower behind them. It’s not uncommon to hear the Russian word “sbasiba” (thank you) on the streets, so much so that Russia has been declared the third official language and will soon be taught in schools.&nbsp;



I quickly learned that I’m not the only one who’d never heard of this country. After asking my travel agent to organize a trip to CAR from South Africa, she sent me details of border control hours, car registration licences, visas and a warning of how long it would take to travel by road.&nbsp;



But that was just the beginning. Flying to CAR can be a frustrating experience of luggage getting lost somewhere between Kenya and Cameroon – both on the way there and back – and it seemingly happens more often than not. There aren’t many hotels in the country and so most visitors find themselves staying at the Ledger Plaza Bangui where the porter, thrilled to see a foreigner, sprinted his baggage trolley towards me, only to do a complete turnaround without missing a step when he saw the expression on my face. A knowing glance crossed between us.&nbsp;



Passport control is much the same. I handed in my little green book at the airport arrivals so my visa could be checked – and received it back the day before departing. If I hadn’t called on a little brick-faced building in a muddy side street every single day of my stay, it’s likely my passport would still be there buried in a pile of papers.  &nbsp;



From the airport to the Central Business District, which is a patchwork of flooded dirt roads crisscrossing a bustling marketplace, you can buy anything from plastic buckets to dry worms or a fake Louis Vuitton T-shirt. Everywhere, the smell of woodfire reminds you that you&#8217;re deep in Africa. &nbsp;



A never-ending row of trucks carrying one of the country’s most valuable resources, iroko and sapelli trees, rumble their way to the border, destined for western markets. &nbsp;



So much of the country is still recovering from years of civil war and unrest but signs of progress are slowly emerging. In a dilapidated building, a five-star restaurant offers everything from select cuts of beef to seafood paired with French champagne. The capital’s top grocery store, which can be reached after dodging potholes and erratic motorcycle drivers, sells shampoos and deodorants from Dubai and snacks from South Africa. Bangui has a charm all of its own. &nbsp;



CAR is the first African country to introduce crypto-currency as an official trading platform. Despite many parts of the country suffering from poor connectivity, the government has prioritized boosting internet signals that also help children in rural areas to learn online. It’s a testament to the optimism and tenacity of a population that, well aware of the challenges, is facing them head on. &nbsp;

Screenshot 2022-12-13 at 21.31.56

Capital Charm: In The Central African Republic

By Paula Slier



As predicted, South African president Cyril Ramaphosa has won the presidency of the ruling African National Congress (ANC) for a second term. Even the markets appreciated the news with the South African rand strengthening against the dollar.



But judging from how ANC delegates behaved at the party’s 55th elective conference that wrapped up this week, it’s clear the political culture within the party is still the same. The division between Ramaphosa’s allies and the aggrieved and aspirant who are part of a loosely-defined group called the ‘Radical Economic Transformation’ (RET) is as obvious as it is concerning.



Despite its vagueness, the RET is destined to remain a central and powerful bloc within the ANC and a constant constraint on Ramaphosa’s leadership and any of his efforts to reform the economy and promote clean governance.



Still, the ANC made history when delegates voted three women to the top seven party positions. A first in the organization’s 110-year history, or as the newly elected Gwen Ramaphosa put it, “I am embarrassed to be the first woman to be elected as the ANC’s Treasurer-General”.



Seeking a second term as party President, Ramaphosa was described by many commentators as “a shoo-in for re-election” – the only question was who would surround him? But doubt seeped in following revelations of a robbery at his private game farm in 2020. It was less the robbery than the contents which sowed uncertainty about his presidential prospects. More than $500,000 was alleged to have been stuffed in his sofas when the alleged robbery took place.



True to character, Ramaphosa has been hiding for the better part of the past week, following a parliamentary panel report that found preliminary evidence of improper conduct by the President and recommended he face impeachment inquiry.



The question is what happens now? Will unity prevail among the two divided groups which are meant to be one within the ANC? And more urgent, what will be Ramaphosa’s priorities going forward?



South Africa needs him to govern on behalf of the country, not only the ANC. Party members have clearly given him the benefit of the doubt regarding the scandal at his game farm, the details of which he has still to fully explain. Not only is he expected now to heal the divisions within his party, but he should not repeat the mistake he made during his first term when he spent way too much time trying to unite the ANC and bringing in some of those members who wanted to get rid of him.



South Africa’s economy is hobbling along. The energy crisis has reached crisis levels as South Africans prepare for a bleak, load-shedding (power cuts) ‘festive’ season as the country’s electricity public utility, Eskom, generates output plummeting to completely new lows.



And then there’s the crime. More people die in South Africa each day than in the Russia-Ukraine conflict. This crime &#8216;capital&#8217; of the world continues to impact businesses and scare away investors. Many young South Africans, especially graduates, believe they live in a hopeless economy that does not create job opportunities for them. One of the main recommendations at the conference was to give the ANC leadership a new look by including young people in leading positions.



As for Africa, what does Ramaphosa’s re-election mean for the continent?



The South African president seemingly still has the interest of Africa at heart. In February this year he spoke highly about the developmental challenges the continent faces. He noted that building a better Africa and a better world was the cornerstone of South Africa&#8217;s foreign policy and that for Africa to



play a full and equal role in global affairs “we must first attend to the developmental challenges of the people of Africa,” he said.



“We must develop our own economies through the African Continental Free Trade Area (AfCFTA), promoting investment and tourism within Africa, accelerating industrialization and driving green growth and low-carbon development. We must end all conflict and entrench democracy and good governance.



“Africa has found a new voice. It is bold and unapologetic in its expectations of our partners. At the same time, we are determined that Africa&#8217;s challenges must be, are being, and will be, solved by Africans themselves,” said Ramaphosa.

ANC 55th National Conference Day 05 At Nasrec

What Does Ramaphosa’s Re-Election Mean For Africa?

By Ross Holland



’Tis the season to be jolly, but that does not mean the festivities should result in the bathroom scale swinging the wrong way. FORBES AFRICA reached out to two professionals to find out how to keep the holiday weight off, whilst partaking of every joyful activity.



Persuade Makore Kudenga, a public health nutritionist and freelance nutrition consultant, and Chandre Engelbrecht, a sports scientist and personal trainer, both from South Africa, weigh in:



<h2>1. Never go to parties hungry or thirsty</h2>



Try and eat at home before you leave for that Thanksgiving meal, Christmas lunch or dinner. Also drink plenty of water. This will ensure you are already half-full and will end up eating less.



<h2>2. Practice mindful eating</h2>



Watch your portion sizes when eating sweets and/or cakes and servings and try not to have more than 1 piece/1 serving. Avoid eating all your favorite foods at the same time and try and be mindful of what you consume.



<h2>3. Avoid overeating</h2>



Food is readily available during this season, it&#8217;s easy to continue eating even after one is full or have reached your recommended calorie intake for the day. Download a calorie counter app and keep track of calories to avoid overeating. An alternative can be increasing your protein intake so one can feel fuller for longer periods of time as protein is more difficult to digest. This will also allow you to stay fuller for longer and that you are less hungry for your next meal.



<h2>4. Don’t skip meals</h2>



During the festive period, most people skip meals like breakfast to eat a bigger lunch and/or buffet. Skipping meals slows down one’s metabolism and also when one skips a meal, the body stores the previous meal as fat to fuel the body and instead of food being used as energy, it&#8217;s stored as fat as one&#8217;s body goes into starvation mode. Skipping meals also makes you crave more junk food and you are left with less energy, which means less energy to train and stay active.



<h2>5. Stay active/don&#8217;t stop training</h2>



Most people don&#8217;t train during the holiday period due to lack of motivation, time and not being in their hometowns or close to their respective gyms. When away, one can try home workouts as well as hikes, runs or walks with the family. Staying active will help fend off any weight gain and not have one starting the new year with guilt.



<h2>6. Don’t skip meals</h2>



During this time most people will skip meals like breakfast to eat a bigger lunch and/or buffet and skipping meals slows down your metabolism and when one skips a meal, the body stores the previous meal as fat to fuel the body and instead of food being used as energy. Stored fat will cause the body to go into starvation mode and will result in weight gain as the body thinks that it’s not getting enough food. Skipping meals also makes one crave more junk food and leave you with less energy which results in less energy to train and stay active.



<h2>7. Control the alcohol intake</h2>



When one drinks alcohol, the alcohol becomes the body&#8217;s first source of fuel and stores the carbohydrates as one&#8217;s body is trying to get rid of the alcohol (toxin); try opting for a lower carbohydrate meal if you plan on having alcohol and try drinking alcohol with less calories such as gin or silver tequila.



<h2 id="h-8-drink-plenty-of-water">8. Drink plenty of water</h2>



Not only do people ditch their daily water intake during the festive season, but they also replace it with alcohol. Drinking water flushes the toxins out of the body and boosts your metabolic rate;



drinking a glass between alcoholic drinks can also help reduce a hangover. Having a glass of water before a meal can make one fuller and less likely to overeat.

Photo by Vitalii Pavlyshynets on unsplash

Partying In South Africa: 8 Ways To Keep The Weight Off This Festive Season

Compiled by: Nafisa Akabor 



Jura Z10 


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The Jura Z10 coffee machine is a must for any smart home. This top-of-the-range model makes a slew of specialty drinks at the touch of a button, or using a smartphone app. Expect espressos, flat whites, cortados and macchiatos on tap, but additionally, specialty cold brews for all-year round. It features Jura’s unique 3D brewing and artificial intelligence technologies, a cold extraction process, and a product recognition grinder that is precise to a fraction of a second. The Z10 has a 2.4L water tank capacity, offers 20 servings from its coffee grinder, and a 15-bar pump pressure. The Jura Operating Experience (J.O.E) app is available on the Play Store and App Store. Price: $3,799. 



Asus Zenbook 17 Fold&nbsp;


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<figure class="alignright size-large is-resized"><img decoding="async" loading="lazy" src="https://cms.forbesafrica.com/wp-content/uploads/2022/12/Asus-Fold-17-1024x723.jpg" alt="" class="wp-image-57113" width="419" height="296" srcset="https://cms.forbesafrica.com/wp-content/uploads/2022/12/Asus-Fold-17-1024x723.jpg 1024w, https://cms.forbesafrica.com/wp-content/uploads/2022/12/Asus-Fold-17-300x212.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2022/12/Asus-Fold-17-768x542.jpg 768w, https://cms.forbesafrica.com/wp-content/uploads/2022/12/Asus-Fold-17-1536x1084.jpg 1536w, https://cms.forbesafrica.com/wp-content/uploads/2022/12/Asus-Fold-17-2048x1445.jpg 2048w" sizes="(max-width: 419px) 100vw, 419px" /></figure></div>


Given the success of foldable smartphones, folding screen laptops were inevitable. Asus has come out with the world’s first foldable 17.3-inch OLED laptop with a stepless 180° hinge that weighs 1.5kgs. It folds halfway with a keyboard attachment to transform into a 12.5-inch laptop. The six modes that it can be used are as an on-screen keyboard, PC, laptop, tablet, book, and extend mode. It comes with a Bluetooth ErgoSense keyboard with touchpad, a carry case, and a 65W fast charger. The Zenbook Fold has everything you’d want to Work From Anywhere: Intel Iris Xe graphics, a 2.5K display, Harmon Kardon speakers, a webcam with noise reduction, 16GB of RAM and a whopping 1TB of storage. This is one laptop you want to take on holiday. Price: $3,500. 



LV Tambour Horizon Light Up Connected Watch 


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The Tambour Horizon Light Up connected watch by Louis Vuitton draws design inspiration from the original Tambour watch. It has a 1.2-inch AMOLED display with 390&#215;390 resolution in 44mm size. It features 24 LED lights that animate the face like a dancing kaleidoscope, which lights up when the watch is activated. It features a custom operating system that supports swipes and gestures to control daily functions like weather, agenda, heart rate, camera, calls, music, etc. It lets you easily access travel plans, boarding passes, hotel reservations and explore LV’s iconic City Guides directly from the watch. It is water-resistant up to 30m and features 1GB of RAM and 8GB of storage. The watch pairs with the LV Connect app available on the Google Play Store, Apple App Store and Huawei App Gallery. Price: $3,405. 



Oura Ring x Gucci 


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The Gucci x Oura Ring collab is the luxury tech you didn’t know you wanted. The highly-rated tracker is equipped with seven sensors and meant to be worn on the index finger for most accurate readings. The Gucci version is available in black with an 18ct gold trim and logo to indicate which side it should be worn. It offers accurate sleep-tracking, heart-rate monitoring, body temperature readings, and evaluation of physical activity. If the look of a smartwatch or fitness tracker never appealed to you, a ring is a more discreet solution, though Gucci takes it to another level. This intelligent piece of jewelry takes a holistic approach to well-being, offering guided audio sessions and videos, sleep analyses and a better understanding of your body’s changes due to temperature. Available in various size at Gucci. Price: $950. 



Arlo Skye The Frame Carry-On 


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The Frame is a lightweight smart carry-on luggage that features a robust frame and corners made from aluminium and an impact-resistant polycarbonate exterior. What makes it smart is its 10,050mAh large built-in, removable battery to charge laptops, tablets, and smartphones on-the-go. It supports up to 18W fast charging speeds and has both USB-C and USB-A ports. The carry-on has an anti-microbial lining, comes with two shoe bags, one laundry bag, a cotton storage cover, and a full grain leather name tag. Instead of a zipper, it sports two integrated TSA-approved clasp locks that you can set different combination codes on. The Frame is available in navy, champagne, or black. Price: $475.&nbsp;



DRx Spectralite Faceware Pro 


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When NASA created a way for plants to grow in outer space using light therapy, it had an accidental effect – it improved the skin of the astronauts. Since then, LED face masks have grown in popularity, regarded as safe by doctors due to the lack of significant side effects. The DRx Spectralite Faceware Pro is an LED mask developed by dermatologist Dr Dennis Gross to firm the skin, smooth lines or wrinkles, reduce the appearance of sunspots, prevent flare-ups, and reduce redness and irritation. It uses a combination of 100 LEDs in red mode and 62 LEDs in blue mode with different treatment settings for a pre-programmed time of three minutes. Price: $435. 



Apple AirPods Pro 2 


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<figure class="alignright size-large is-resized"><img decoding="async" loading="lazy" src="https://cms.forbesafrica.com/wp-content/uploads/2022/12/AirPods-Pro-2-910x1024.jpg" alt="" class="wp-image-57112" width="246" height="276" srcset="https://cms.forbesafrica.com/wp-content/uploads/2022/12/AirPods-Pro-2-910x1024.jpg 910w, https://cms.forbesafrica.com/wp-content/uploads/2022/12/AirPods-Pro-2-267x300.jpg 267w, https://cms.forbesafrica.com/wp-content/uploads/2022/12/AirPods-Pro-2-768x864.jpg 768w, https://cms.forbesafrica.com/wp-content/uploads/2022/12/AirPods-Pro-2-1365x1536.jpg 1365w, https://cms.forbesafrica.com/wp-content/uploads/2022/12/AirPods-Pro-2-1820x2048.jpg 1820w" sizes="(max-width: 246px) 100vw, 246px" /></figure></div>


Apple knows how to keep customers happy even with minimal design changes. Despite the updated AirPods Pro 2 looking nearly identical to its predecessor, it is powered by an H2 chip that has better noise cancellation, improved sound quality, and new touch controls for volume. Thanks to its IPX4 rating, it is now sweat-resistant, too. The battery case has a built-in speaker that chimes when connected to a charger, during pairing, placed back in the case or when the battery is low. Improved battery life is six hours or up to 30 with the charging case. It appeals to a wider audience due to four ear tip sizes included. Price: $249. 



Under Armour Flow Velociti Wind 2 


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<figure class="alignleft size-large is-resized"><img decoding="async" loading="lazy" src="https://cms.forbesafrica.com/wp-content/uploads/2022/12/Flow-Velociti-Wind-2-1024x746.jpg" alt="" class="wp-image-57115" width="419" height="304" srcset="https://cms.forbesafrica.com/wp-content/uploads/2022/12/Flow-Velociti-Wind-2-1024x746.jpg 1024w, https://cms.forbesafrica.com/wp-content/uploads/2022/12/Flow-Velociti-Wind-2-300x218.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2022/12/Flow-Velociti-Wind-2-768x559.jpg 768w, https://cms.forbesafrica.com/wp-content/uploads/2022/12/Flow-Velociti-Wind-2-1536x1118.jpg 1536w, https://cms.forbesafrica.com/wp-content/uploads/2022/12/Flow-Velociti-Wind-2-2048x1491.jpg 2048w" sizes="(max-width: 419px) 100vw, 419px" /></figure></div>


When it comes to connected sneakers, Under Armour is miles ahead of the competition. The Flow Velociti Wind 2 unisex running shoe comes in a jet grey/penta pink shade and has Bluetooth connectivity built in. The sneakers pair with the Map My Run app for Android and iOS and will track and analyse your running metrics to help make you a better runner. It includes real-time coaching to help reduce risk of injury, adaptive training plans, and comprehensive stats. Sync your sneakers, smartwatch, and headphones to stay focused while tracking and measuring your achievements over time. Price: $160.

Merry Christmas: a n Anonymous Smiling Elegant African American Woman Holding a Pile of Presents in her Hands, a Close Up

The Luxe Life: Nifty Somethings Worth The Holiday Spend In Africa

<blockquote class="wp-block-quote has-text-align-center">“I hope it will serve to show others that this is actually a really big opportunity. I think we’re still in the early innings.”</blockquote>



<h2 class="has-text-align-center" id="h-ham-serunjogi-and-maijid-moujaledceo-and-president-respectively-chippercash">Ham Serunjogi and Maijid Moujaled CEO and President (respectively), ChipperCash</h2>



By Marie Shabaya



THE UGANDAN-BORN CEO OF FINTECH unicorn, Chipper Cash, Ham Serunjogi, grew up watching his parents solve problems. Today, overcoming challenges is a daily routine and forms a culture of thought inherited from his upbringing.



“As an African, you’re in problem-solving mode all the time. For me, it was [multiplied] by ten, my parents were both self-employed, solo entrepreneurs, and [they had] a continuous problem-solving mindset,” recalls Serunjogi, speaking with FORBES AFRICA from San Francisco, California. 



Serunjogi fondly recalls the early memories that shaped his own entrepreneurial stature.



“We grew up on a farm so initially [my parents] were trying to figure out how to get the farm going. Eventually, they had a dairy business and they had to figure out how to get that going. My dad is a computer scientist by training and he had an IT firm as well and he had to figure out how to get that going and how to manage a small team…it left such a strong mark on me. I always wanted to do something of my own when I grew up.”



After completing high school in Kenya, Serunjogi made his way to the US to study at Grinnell College, a private liberal arts institution in Iowa State. It was here that he would meet his long-time friend and co-founder, Maijid Moujaled, from Ghana.



Moujaled who is now President of Chipper Cash was, like Serunjogi’s father, a computer scientist and had started a popular coding club at Grinnell. The two struck it off immediately noticing that they both saw the world from a similar vantage point.



“When I met Maijid, he was of a very similar mindset around the fact that there were so many opportunities in Africa for us to make a positive impact. We happened to be among the few [Africans] who got to go on and get educated in the US and we saw that as a privilege and an opportunity to learn in a new place and see how people solve problems in that area. For us, payments [in Africa] was [where] we felt that we could make a positive contribution,” he explains. 



“When I met Maijid, he was of a very similar mindset around the fact that there were so many opportunities in Africa for us to make a positive impact. We happened to be among the few [Africans] who got to go on and get educated in the US and we saw that as a privilege and an opportunity to learn in a new place and see how people solve problems in that area. For us, payments [in Africa] was [where] we felt that we could make a positive contribution,” he explains.



During their time at Grinnell, the two men began conversations around building a money transfer app that would enable Africans to easily make cross-border financial transactions; a gap which the antiquated continental banking system struggled to address for decades. They went on to establish ChipperCash in 2018, with combined savings of $30,000, launching a Beta version of the app in July that year. The service was simple but revolutionary, initially allowing users to send money between Uganda and Ghana, for free. It was a game-changer, not only was it easy-to-use it also overcame the cost hurdles presented by other alternatives available on the continent. In November 2018, they received their first injection of investor capital after 500 Startups, the San Francisco-based early-stage venture fund, agreed to put in $150,000.



Raising funds wasn&#8217;t easy. The founders had pitched to 50 VC outfits before the 500 Startups investment and many of the investors they had been in contact with were wary of an African prospect. Serunjogi, in an interview with Forbes earlier this year, notes that some of them were not just apprehensive but even averse to the idea of investing in an African startup with one investor reportedly telling Serunjogi, “regardless of what the metrics are, I have to apply a discount to this business because it’s in Africa”.



“With the pain we’ve gone through trying to raise money in a space where there has historically been no one [from the continent] raising money and the trauma of being overlooked that comes with going against those odds, I hope it will serve to show others that this is actually a really big opportunity. I think we’re still in the early innings,” he now reflects.



Today, ChipperCash is imbued with the spirit of its founders and has more than overcome initial hurdles. The company is highly-rated among investors, riding high with a $2.2 billion valuation after raising a total of $300 million to date with backing from noteworthy titans like Amazon’s Jeff Bezos and a roster of blue chip VCs. Their most recent funding round closed in late 2021.



ChipperCash employs 350 people spread across their San Francisco headquarters and Africa offices in Nigeria, Kenya and South Africa. Their impressive growth, over the last four years, has enabled them to support a growing client base of 5 million in seven African countries. In addition to low-cost money transfers, they have also expanded their product stable with a crypto-trading service and a platform where their continental customers can purchase US stocks. Last year, the company’s revenues were well over $75 million up from $18 million in 2020.



However, for ChipperCash, reaching unicorn status was never the objective. While it remains a great vote of confidence from the market, signaling early success, the founders’ sights remain fixed on their initial motivations for founding the business, insists Serunjogi.



“Our task is to provide a platform that can help people move their money easily, invest in assets across the world easily, [and] interact with the online economy easily. Essentially, meet people at the fabric of their financial lives in Africa.”



Nevertheless, surpassing the $1 billion valuation mark is a feat for any business, African or otherwise, and very few from the continent have managed to scale such heights. The fact remains that Serunjogi and Moujaled have shifted the needle on what is possible for Africa’s innovators and entrepreneurs, establishing themselves as trailblazers in the fintech arena.



“If nothing else, I hope that ChipperCash can serve to show that there is a massive opportunity in Africa and maybe even pave the way for others who are more talented, more capable than Maijid and myself to come and do even more important work,” says Serunjogi.



“Africa offers the last great opportunity for exciting innovation in the world today.”


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Ham Serunjogi and Maijid Moujaled by Ethan Pines for Forbes 130L-03-0027

UNICORNS-Chipper Cash: A Chip Off The Old Block

Venturing into the world of entrepreneurship is often strenuous and risky business. But the rewards far outweigh the costs. Since 2013, the added prize of being lauded as a ‘unicorn’, that is a business valued at $1 billion or more, has become highly coveted among the entrepreneurial class. On the continent, very few can claim this status. FORBES AFRICA spotlights African founders who have scaled these heights, making their mark on the world at large and redefining the African story of success. 



By: Marie Shabaya, Chanel Retief, Lillian Roberts, and Peace Hyde



IN POPULAR IMAGINATION, UNICORNS CONJURE up the picture of a rare but beautiful mythical creature described by the ancients as resembling a horse, with a single horn emanating from the center of its forehead. A timeless symbol of purity and uniqueness, this rich symbolism also translates to the world of business. In the startup lexicon, a unicorn is also a rarity and defined as a relatively young company, usually less than 10 years old valued at $1 billion or more by public or private investors.



According to CBInsights, a New York City-based market intelligence company, as of October 2022, there were over 1,200 unicorns in the world. Popular unicorns include the artificial intelligence (AI) company, ByteDance, from China that is valued at $140 billion; Elon Musk’s spacecraft engineering firm, SpaceX, valued at $127 billion and Chinese online fashion retailer, Shein, valued at $100 billion. Some former unicorns include Airbnb, Facebook and Google. Furthermore, according to the report, the total cumulative valuation of these rarified businesses is $3,871 billion.



In Africa, the rise of these mythical commerce creatures is not different.



A few years ago, the continent saw the emergence of its first unicorn with the pan-African online retailer, Jumia Group. The company had capitalized on a major gap in the virtual market building a customized platform where consumers in 14 African countries can order their groceries, shop the latest fashion or order takeaway from their favorite restaurants online. In 2019, Jumia became the first brand from the continent to list on the New York Stock Exchange (NYSE), after commanding a valuation of $1.6 billion the previous year. Since then, six more businesses have entered this very elite club, illustrating that the rate of unicorns forming on the continent is fast accelerating.



“I suppose the rise of African unicorns is starting to validate the potential of African companies,” says Ian Lessem, Managing Partner at HAVAÍC, a company in South Africa that invests in early-stage, high-growth technology businesses.



“So, it’s one thing to say ‘I want to invest in African businesses’, and then someone will say, ‘well, what’s the potential, how is my investment to make money’…as a continent, [we’re] an emerging market or frontier market.”



While continental startup ecosystems are relatively young compared to more developed markets such as the United States (US), Israel, or the United Kingdom (UK), they are growing at around 15% faster than these more mature markets each year, according to Lessem.



“And in 2022, the African venture capital (VC) market is set to be the only region in the world to have grown year-on-year,” Lessem tells FORBES AFRICA.



“So, while on a relative basis Africa is a small part of the global startup and VC sector, it is growing, and growing quickly, and with a maturing ecosystem and the continued influx of capital, its place on the global venture stage is set to continue, with many more unicorns to follow as a result.”



According to a study by Mastercard, the global payments giant, on the state of fintech in African markets, startups within this sector boasted exponential growth in 2021. In terms of funding, the study showed that the continent’s fintech startups recorded 894% year-on-year growth in 2021.



“[What] Africa has to do as a continent is figure out [how] we overcome some of [the] barriers that make it difficult to build big enterprises and can we make it easier to do business across the continent?” Sarah Dusek, an Investor and Co-founder of Enygma Ventures and Co-founder of Under Canvas Inc. says to FORBES AFRICA. “Money movement across the continent is still very challenging. And that’s where we’re seeing most of the unicorn space happen right now, in fintech.”



Nigeria emerged as a leading fintech hub across the Middle East and Africa as startups there accounted for a third of all funding deployed into fintech in 2021.



The African Private Equity and Venture Capital Association (AVCA) noted in October that, within the first half of this year, African startups captured $3.5 billion in venture capital investment. The industry group further stated that the funding, raised by 300 different companies, represented a total growth of 133% compared to the same period last year.



“I think we have the potential for having a lot of unicorns on the continent. But equally, this ecosystem is really young,” says Dusek. “So if you think about how old the sort of Silicon Valley model of investing in the US is, it [is] 50 years old. [In Africa] we are under a decade in the venture capital model. Only $4 billion was invested in 2021 on the whole continent into businesses. So there&#8217;s no way we can have a lot of billion-dollar companies, when we&#8217;ve only invested $4 billion a year.”



However, there is a reason for the low investment volumes. Investor perceptions have long been marred with challenges and stereotypes that have been difficult to eradicate. However, Lessem believes that this is mostly due to lack of data.



“Africa is still a pretty new market&#8230;so investors will always be quite wary. The other challenge is when anything is new, there are very few data points,” Lessem explains. “So as a foreigner to go and say, ‘okay, well, I want to invest in Uganda’, what data do they have to draw from? In researching, you would see that it is probably hard for you to find some of the data you were looking for. ”



“I think it&#8217;s a bit of a chicken and egg [scenario],” Dusek adds. “Because I don&#8217;t think we can break those stereotypes without going to these places in the first place. If you look at most of the unicorns&#8230; how many of them are out of Nigeria? Most of them [are]&#8230; and that is just about building companies in big markets with big opportunities. And that&#8217;s actually one of the biggest challenges for Africa, we are a continent, not one country.”



Starting a business on the continent is not easy and is one that is riddled with a multiplicity of issues.



“Whereas I think in Africa, there is a perception that if you fail, it&#8217;s almost built for life, which I think is true, in terms of the stigma that comes with it. People almost don&#8217;t want to embrace failure. So I like to fail quietly. The only concern and a chance of failing quietly, is [that] for you to get assessed for business, you have to put yourself out there.”



Lessem further notes that one needs to remember that without meaning for it to happen, legislation and regulatory frameworks will always play a role in what businesses you invest in, particularly in Africa.



“Each country is different [and] we have very different legal systems. In southern Africa, we are very English and Dutch-law based. The same would be for Nigeria and Kenya. But then you look at Mozambique and Angola, and that will be Luciferians, which would be very kind of your Portuguese type of law, which is a little bit different.



“And then Francophone Africa; the DRC, Senegal, that would be French Civil Code. When you make an investment, you have to sign a subscription agreement and [understand] what you are actually signing in for [particularly if] you don&#8217;t have experience in the various kinds of laws [of] the country.”



Moreover, there is a reason why most of the continent’s unicorns are in West Africa or have founders from the region.



“Nigeria is a powerhouse economy in Africa with access to hundreds of millions of tech-savvy consumers who have access to mobile phones,” Lessem adds. “It stands to reason that it will attract VC funding and produce powerhouse startups. But taking a step back, and looking at what defines a unicorn, which loosely is a VC-backed early-stage business that has raised capital at $1 billion or more valuation.”



Lessem further compares Nigeria to South Africa. In terms of consumer numbers, Nigeria is far larger. However, from a capital markets perspective, South Africa has much more depth. What this means is traditional venture investors may lean towards markets such as Nigeria where their funding could play a more meaningful role, and potentially impact more people in the process.



“South Africa, on the other hand, has many other capital options besides venture capital funding and depending on the type of business can look to venture capital or to other capital pools as appropriate,” Lessem says. “That being said, venture capital funding plays an important role in South Africa, as well, especially for businesses looking to scale internationally and this is where we are going to see many unicorns emerging from South Africa in the coming years.”



And now that we are seeing growth happening in the unicorn space for Africans, the next barrier is breaking what could easily turn into a boys&#8217; club if more women are not welcomed into the space, as one can intimate from the unicorns profiled within these pages. But that, according to Dusek, can only happen with more investment.



Women make up 58% of Africa’s self-employed population and businesses founded by women ultimately deliver higher revenue—more than twice as much per dollar invested—than those founded by men. This should make women-owned companies more attractive to investors. However, with all the data and research available, we are yet to see a female-founded and led unicorn from the continent.



“Women have shown that they are capable of accelerating the economy but this is only possible through the provision of equal opportunities. With decades of gender disparity issues, women are not asking for preferential treatment but for the same opportunities as men,” says Dusek.



“To tackle Africa’s socio-economic challenges, we need to invest in women-led businesses, because when women work, they drive impactful changes in society. We already know that women-led businesses are statistically more profitable than male-led ones, [they are] more likely to repay debt, and more likely to continue to operate after the first five years in business.”



The story of African unicorns has been two years in the making for FORBES AFRICA. We’ve been watching the markets for the growth of these billion-dollar outfits and those behind them. The founders within these pages have not only grown and scaled their businesses, despite the odds, but have been thinking beyond reaching unicorn status, because for them, the work has just begun!  



<a href="https://shop.forbesafrica.com/product/single-digital-issue-dec-jan-2023/">For full list of unicorns, get your digital copy here</a>


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financial technology flowchart and basic income mining cryptocurrency with blockchain startup unicorn crypto money virtual diagram.businessman hand working with new modern computer.

Part 1: Ventures And Valuations: Africa’s Billion-Dollar Startups

<figure class="wp-block-pullquote has-border-color has-vivid-red-border-color" style="border-radius:100px"><blockquote>“Make 2023 Your Year!”</blockquote></figure>



It’s that time of the year again! FORBES AFRICA is calling on Africa’s brightest visionaries, risk-takers, change-makers and pioneers to take their place on the continent’s sought-after 30 Under 30 list.



For 2023, we are now on the quest for 30 of Africa’s most ingenious innovators under the age of 30 for the categories of Business, Technology, Creatives, Sport and Science/Health.



The <a href="https://www.forbesafrica.com/cover-story/2022/07/15/the-class-of-2022-money-and-meaning/" target="_blank" rel="noreferrer noopener">Class of 2022 </a>proved to the world that Africa’s Under 30s care about making money as well as meaning. For these young trailblazers, it was not just about commerce and clout but about ensuring they represent well their countries and the diverse, heterogeneous Africa they want to serve.



“Every year, the list keeps getting better and 2022 was also historic in that the cover shoot for this issue was in Botswana, for the first time outside of Johannesburg; and the finalists shone in every sense,” says Renuka Methil, Editor of FORBES AFRICA.



As we prepare for the ninth installment of the 30 Under 30 list, we also announce a few changes. Our process is extremely rigorous, and as the nominees progress through the stages, it gets more intense. As in the past, we will require a police clearance certificate (PCC) or report from your country verifying that you have no criminal record, no ongoing or upcoming court cases and that you are a citizen of that country. As an extra layer of verification, the FORBES AFRICA Under 30 team of curators now also need a recommendation/reference letter from your financial institution (like your bank), ensuring that you are a legitimate business/brand employing your funds responsibly. We recommend that you contact your financial institution or advisor to prepare for this part of the process.



In the end, it will all be worth it as you join these past honorees who are now illustrious Under 30 alumni; like Elsa Majimbo, Mr. Eazi, Lasizwe, Musa Keys, Lloyd Harris, Sho Madjozi, Bruce Diale, Antonio Depina, Karabo Poppy, Thuso Mbedu, Dr. Esperance Luvindao, Nomzamo Mbatha, Kabza De Small, Burna Boy, Nthabiseng Mosia, Davido, Shamim Nabuuma Kaliisa, Sikander Kalla, Nasty C, Chad le Clos, and WizKid.



“These are the shining stars who will be leading our future and deciding what’s best. What we are looking for in 2023? Even more committed young people pivoting the continent to progress, profits, and prosperity,” adds Methil. 



<h2 class="has-text-align-center" id="h-nominations-and-applications-criteria">NOMINATIONS AND APPLICATIONS CRITERIA:&nbsp;</h2>



Please read and take careful note of the following before applying. APPLICATIONS CLOSE 20 January 2023 17:00 (SAST)



Business and Technology categories&nbsp;



<ol><li>Must be an entrepreneur/founder aged 29 or younger on 31 March 2023&nbsp;</li><li>Should have a legitimate REGISTERED business on the continent&nbsp;</li><li>Business/businesses should be two years or older (please ensure you have your audited financial documents for at least two years as well as your company&#8217;s registration documents; should you make the second stage, this will be required)&nbsp;</li><li>The more innovative the business the better (as it contributes to Africa’s growth story!)&nbsp;</li><li>Have you/your company created social impact on the African continent?&nbsp;</li><li>The company must be profit-generating&nbsp;</li><li>Must employ people in Africa&nbsp;</li><li>All applications must be in English&nbsp;</li></ol>



Sports category



<ol><li>Must be a sports person aged 29 or younger on 31 March 2023</li><li>Must be representing an African team</li><li>Should have a proven track-record of no less than two years</li><li>Should be making significant earnings</li><li>Endorsement deals and/or awards of any kind would be a bonus</li><li>Entrepreneurship and social impact are a plus, especially if applying under the Business/Technology category. However, the business must oblige by the same rules as under Business/Technology.</li><li>All applications must be in English</li></ol>



Creatives category&nbsp;



<ol><li>Must be a creative aged 29 or younger on 31 March 2023&nbsp;</li><li>Must be from or based in Africa&nbsp;</li><li>Should be making significant earnings&nbsp;</li><li>Should have a proven creative record of no less than two years&nbsp;</li><li>Awards of any kind would be a bonus&nbsp;&nbsp;</li><li>Social media presence will be taken into consideration.&nbsp;</li><li>Entrepreneurship and social impact are a plus, especially if applying under the Business/Technology category. However, the business must be legitimate, registered and also two years or older.&nbsp;</li><li>All applications must be in English&nbsp;</li></ol>



Health/Science category&nbsp;



<ol><li>Must be a creative aged 29 or younger on 31 March 2023 </li><li>Must be from or based in Africa </li><li>Should have a proven track record in the field of health and/or science for no less than two years. </li><li>Must have social influence and impact. </li><li>If the nominee is a doctor/professor, please provide us with documentation and a reference letter from the institution where the applicant received a doctorate or Ph.D.   </li><li>Entrepreneurship and social impact are a plus, especially if applying under the Business/Technology category. However, the business must be legitimate, registered, and also two years or older. </li><li>All applications must be in English</li></ol>



APPLICATIONS ARE NOW CLOSED!

Author: Forbes Africa

FORBES AFRICA SOCIAL MEDIA

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Part 1: Ventures And Valuations: Africa’s Billion-Dollar Startups

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Part 2: Ventures And Valuations: Africa’s Billion-Dollar Startups