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A Beacon Of Peace And Macro-Economical Stability For Africa

Zambia is boosting economic transformation in order to fulfil its Vision 2030 target of becoming a middle-income nation.

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Zambia is boosting economic transformation in order to fulfil its Vision 2030 target of becoming a middle-income nation. Through its Seventh National Development Plan, the five-year plan currently underway (2017-2021), it aims at building a strong and diversified economy through the implementation of growth reforms and fiscal consolidation, with an in-depth focus on private sector investment in infrastructure and agricultural development. “The prospects of going forward are huge,” states Dr Denny H.Kalyalya, Governor of the Bank of Zambia. “For an investor looking for good returns, a peaceful and liberal environment, Zambia is the place to be.”

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“By 2030, we want to see a Zambia where every citizen has access to safe clean water, food, decent housing, electricity, quality education and health services and decent jobs. In pursuit of this vision, we need to transform into a smart Zambia.”


President Edgar Chagwa Lungu

Infrastructure and ICT

‘Smart Zambia’ sees ICT as a key driver of socio-economic development and an essential tool to achieving Vision 2030’s goal. In 2018, the government launched a US$280 million project will add 1,009 communication towers to the hundreds already built and boost mobile penetration rates to 94%. “We believe it’s an enabler of business and commerce. We want to make sure that our service provision is on the back of ICT,” clarifies Hon. Brian Mushimba, Minister of Transportation and Communications. Support for technology is also strong in e-government, with an agenda aimed at modernising and automating payment and revenue collection processes. “The government agenda to come up with smart cities is going to help create demand for the ICT sector and is going to transform the culture of the nation in ICT,” declares Hai Telecommunications Managing Director, Samson Longwe.

The Green Revolution

President Lungu’s ‘green revolution’ is key to driving Zambia’s economy, contributing approximately 70% to its GDP and 10% to its economic growth. “This creates a lot of employment for our women and the youth,” affirms Michael Katambo, Minister Of Agriculture. “For production to be enhanced, the government is targeting all farmers and trying to get them to access financial institutions, so that they can access loans and buy small-mechanised equipment.” In an attempt to liberalise production of staple crops, including rice, millet and cassava, Zambia is also offering zero corporate tax for the initial five years from the first year profits that are made in the agricultural sector.

Building Electrical Alternatives

Hydropower constitutes 95% of the nation’s total power supply, however Zambia is intent on increasing the diversification of its energy sources to make its energy markets more competitive. “Ideally, we want to be the net exporter of electricity because as a landlinked country, it’s easy for us to import and export electricity,” claims Hon. Matthew Nkhuwa, Minister of Energy. “We want to build interconnectors for our neighbouring countries, so in the event that there may be a shortage, power can be tapped from alternative grids.” In late 2018, Zambia and Angola signed a US$5 billion deal to construct an oil pipeline that will pass through the two countries.

Geo-Location

On top of all this, Zambia’s breathtakingly beautiful and alluring geo-location has the enormous potential to become, according to Hon. Charles Banda, Minister of Tourism and Arts, “ one of the top five destinations in the world.” Managing Director of Zambia Airports Corporation Limited, Fumu Mondoloka confirms: “We are conveniently positioned to be the aviation and tourism hub we want to be.”

Industrialisation and Diversification

Key to Zambia’s path to macro-economic and peaceful stability is the nation’s industrial agenda. Privatisation and strong mineral prices have boosted the country’s mining activities over the past few years and the government has consequently invested heavily in building its private sector and other industries. “It is vital to structure an effective fiscal regime for the mining sector to ensure that Zambians benefit from the mineral wealth our country is blessed with,” emphasises Zambia’s Minister of Finance, Hon. Margaret Mhango Mwanakatwe. Furthermore, US$21.7 million have been invested in various Multi Facility Economic Zones and Industrial Parks in the country in order to create a platform for Zambia’s economic development by attracting FDI through robust policy and incentives, emphasising industrialisation and diversification. Zambia’s promoter of trade and investment, Zambia Development Agency (ZDA), recorded US$3.9 billion of projected investment in 2018 in a number of sectors of the economy with a focus on diversification. Hon. Dora Siliya,  Minister of Information states: “I think diversification opens up whole new opportunities in tourism, agriculture, ICT and the energy sector.” There is no doubt that Zambia is in the process of unlocking its enormous potential to become a regional hub in a number of sectors. As Vice President, Hon. Inonge Mutukwa Wina affirms: “To business people and investors alike, the certainty of peace, tranquillity and unity in diversity are combinations that make Zambia stand out in the eyes of the commercial world.”

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Nigeria’s Manufacturing Power Couple On The Future Of Manufacturing In Nigeria

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Chief Razak Okoya: Chairman Eleganza Group And Rao Property Investment Company

Chief Razak Okoya is an industrialist who has managed to transform a small trading company into one of the largest conglomerates and indigenous manufacturers of household products in Nigeria.

As founder of Eleganza Group and leading property investment company RAO Property, he employs about 5000 people across Nigeria. In his interview with Forbes Africa, he discusses the trends that will influence the competitive Nigerian Manufacturing sector in the next decade.

Chief Folashade Noimat Okoya: Managing Director, Eleganza Industrial City

Chief Mrs. Folashade Okoya has been at the helm of affairs of the Eleganza Group and RAO Property Investment for the past decade using her strong entrepreneurial drive to further strengthen the goodwill of both organizations and its corporate positioning in Nigeria.

Under her watch, Eleganza Group has risen to new heights strengthening its position as a leading indigenous brand in Nigeria as well as one of the benchmark manufacturing companies in the country.

She talks about the stigma of women in manufacturing and the need for greater automation in the manufacturing process in Nigeria.

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Nigeria’s Biggest Corporations: A Pan-Nigerian View To The World

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At the beginning of the Japanese Economic Miracle, were the likes of
Akio Morita – Co-founder of Sony. In setting a Mission for Sony, Morita had
resolved to set for Sony Corporations the Mission to make Japan known for quality at a time the country was known for cheap-copycat product. It is indeed in this vision, that True Nigerian Experience was founded with a mission to showcase the Best of Nigeria.

According to the International Monetary Fund in 2018, Nigeria is regarded as the biggest economy in Africa with a Gross Domestic Product of about $400 Billion Dollars – Leading the entire 54 African Economies both in Population of over 180 Million people and GDP.

The Nigerian Economy is ranked the 30th largest Economy in the World. To mention a few, Nigeria’s Nominal GDP is bigger than the Republic of Ireland (US $373 Billion), Israel (US $370 Billion), Hong Kong (US $363 Billion), Singapore (US $361 Billion), Malaysia (US $354 Billion), Denmark (US $351 Billion), Colombia (US $333 Billion), Philippines (US $331 Billion), Chile (US $298 Billion), Finland (US $275 Billion), Czech Republic (US $242 Billion), Romania (US $ 240 Billion), Portugal (US $239 Billion, Peru (US $225 Billion), Greece (US $219 Billion), New Zealand (US $203 Billion) and over a hundred other countries’ economies in the World.

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Franchise’s newest target: the flexible workspace revolution

In the midst of what many are calling the flexible workspace revolution, franchisees are looking towards the serviced office market for lucrative new opportunities.

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In the midst of what many are calling the flexible workspace revolution, franchisees are looking towards the serviced office market for lucrative new opportunities. Projections show that three in ten buildings on every high street could offer a new franchise opportunity, with flexible working, or coworking as it’s often called, emerging as a booming industry.

A booming industry
With businesses and individuals increasingly using flexible working spaces, the co-working industry is estimated to be growing by 24% each year. A recent study of 18,000 business leaders in 96 countries by IWG, the parent company of leading workspace providers including Regus and Spaces, revealed that the majority of business leaders (89%) believe flexible working is helping their businesses to grow and stay competitive. In addition, 80% felt that adopting co-working, and enabling their employees to work anywhere, has helped them recruit and retain top talent.

Likewise, with a huge 50% of workers predicted to be working remotely for most of their working week, by 2022, forecasts suggest that the global mobile workforce will reach 1.87 billion people. This presents a unique opportunity for those in the franchise industry to jump on what is a rapidly growing trend.


Partnering with IWG gives business owners the ability to participate in this growth story and take advantage of the huge demand for flexible, contemporary workspaces – one of the most exciting growth markets in the country.

Mo Nanabhay, Franchising Director – Africa


As more people look to work flexibly, the demand for places for them to do so is growing; and as the corporate real estate market continues to grow, global real estate giant JLL estimates that up to 30% of corporate real estate could be flexible workspace by 2030.

The growing franchise opportunity
This makes the serviced office market one of the most exciting growth markets in the world. Simply put, it is the next franchise frontier. And the industry founder, IWG, with its thirty years of experience in the, serviced office market and brands to match every requirement and style like Regus and Spaces, is now offering people a chance to get involved.
In September 2018, the company announced they would be leading the UK’s first serviced office franchise partnership with franchising experts, ACCA Office Ltd. Since then, four more businesses have partnered with IWG, including Kash Office Limited, AMA Workspaces, SME Properties Limited, and Q-Boid Limited. These franchise partnerships will see sites opened across the country over the next couple of years. In Asia, the company has agreed to sell its Japanese business to Tokyo-based TKP Corporation for the whole of Japan.


IWG is present in almost 3,300 locations, 120 countries and 1,100 town and cities across the world – and it’s this experience that makes IWG the ideal franchise partner for those wanting to take advantage of the booming demand for serviced offices worldwide.

“Our years of experience in the industry and our well-established global network has taught us that building a quality flexible workspace offering requires trust and support. We work closely with our franchisees to ensure that they have a framework to find the right location and design, backed by the strength of our operational and marketing support and the best customer service that IWG is known for.”

Mo Nanabhay, Franchising Director – Africa

To find out how you can take advantage of the workspace revolution, contact IWG’s franchise team via [email protected] or visit franchise.iwgplc.com.

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