A new generation of writers, directors and technical crew is leading the charge to reshape how we tell and consume our own African stories across the MultiChoice Group platforms – and the storytelling charge is being led by women.



“The desire for homegrown content is increasing exponentially, audience consumption patterns are evolving and viewership behavior is changing,” says Nomsa Philiso, CEO: General Entertainment for MultiChoice Group. “Through our various initiatives, including the MultiChoice Talent Factory, we’re working hard to develop talent and meet the needs of our pan-African audiences”.



Philiso herself has extensive broadcast and media experience, spanning nearly three decades in media sales, channel and content management, technology project implementation and general management. Having worked her way to the top of the industry, empowering other women is an imperative for her. “Whether we’re working with MultiChoice Talent Factory graduates, young creatives or women who have been in the industry for years, the priority needs to be, at the very least, equality,” she says. “We have a powerful network of female producers, directors, commissioning editors, creators and technical people across the continent which is constantly growing – and it’s imperative to make sure that their voices are heard, because they have important things to say that deserve a space on the global stage”.



In her current role as the Executive Head of Content &amp; Channels, West Africa, at MultiChoice, Dr Busola Tejumola plays a pivotal role in shaping the storytelling and content deployment direction of the Africa Magic channels in Nigeria and Akwaaba Magic channel in Ghana. “I love bringing concepts, ideas and stories to life through collaborations, working with creatives with vast lived experiences and diverse perspectives,” she says. “I am passionate about creating content because it allows me to tell stories that resonate with audiences and have a meaningful impact. The opportunity to engage with viewers, spark conversations, and drive positive change through storytelling is what excites me the most.”



Encouraged by how MultiChoice’s work with producers across the continent continues to improve the quality and diversity of content, her wish for the African broadcasting industry is to see continued growth and innovation, with a focus on producing high-quality, diverse, and culturally relevant content that not only entertains, but also educates and inspires. “I hope to see a thriving ecosystem of African filmmakers, writers, directors, and actors creating high-quality content that continues to compete on a global scale. I hope to see more collaboration and investment in local talent and the expansion of African stories to the world,” she says.



In a career packed with highlights, Dr Tejumola names some recent achievements as wins. “Leading content strategy for acclaimed editions of Big Brother Naija, revitalizing the Africa Magic Brand (including the AMVCAs) with a strategic approach to content and channel development and the relaunch of Showmax – a pivotal project that set the stage for a new era of streaming in Nigeria are highlights for me,” she says. “What sets these projects apart is their impact on subscriber growth, ad revenue, audience engagement – and setting standards for impactful content in our African entertainment landscape. Being recognized among the Top 50 Women in Management by Forbes Afrique was also a great honor!”



Dr Tejumola believes that women in the film and television industry are not just breaking barriers. “We are leading the charge – in producing, directing, marketing and distribution – shaping narratives that resonate across cultures and generations. By embracing collaboration over competition, we foster a spirit of coopetition, where we elevate one another, creating a stronger, more representative industry,” she says.



Nicola van Niekerk, Head of Premium Content &amp; Co-Productions at M-Net, still gets a thrill out of creating ‘something from nothing’ when it comes to content. “From pitch concept to scripts, to posters to merchandise, to seeing people relating to characters as though they know them, it’s an incredibly



heartwarming process about the value chain and how we create content and capture the hearts of our people across Africa,” she says.



Van Niekerk cites true crime documentary Devilsdorp, Cape Flats-located drama series Spinners and murder mystery White Lies as her most-recent career highlights. “Devilsdorp is currently being seen around the world and it really put us at the top of the true crime drama list and has started a strong pipeline of documentaries,” she says. “Taking a story like Spinners, set in the Cape Flats in a South African dialect that nobody overseas has heard before – and winning all these accolades – is truly amazing. Seeing White Lies at number three on Stan in Australia is thrilling because it shows that people are enjoying seeing our local stories on a global stage”.



She says that there’s a misconception amongst women in film and television that there are less spaces for them at the top of the industry – but that’s not true. “The women who are there need to know that women need to be prioritized and that women need to help each other get there. Women in the industry are their own value chain and we need to work hard to help them every step of the way.”



Flavia Motsisi, Senior Manager: Scripted Series at MultiChoice, plays a major role in steering commissioning teams towards strategic business objectives and fostering innovation, helping shape the series’ portfolio across linear and streaming platforms. She is also a co-founder and former board member of Sisters Working in Film and Television (SWIFT), a non-profit organization that advocates for gender and race parity and intersectionality in the sector.



“Words cannot describe how fulfilling it is to follow a concept from inception to seeing it on a screen and watching the impact it can make on an audience – or an entire culture,” she says. “It is one of the most thrilling, challenging, exciting and satisfying journeys. What excites me the most about making content is being able to evoke emotions from the viewers, getting them invested in the stories and characters and connecting with the content pieces we work so hard to deliver.”



Speaking on her career highlights so far, she says that being part of the The River set the bar high because it received the International Emmy nomination early in her career. “We launched the first season of Gomora on the first Monday after President Cyril Ramaphosa announced the initial 21-day COVID lockdown. The show found its way into millions of South African households and became a source of entertainment and escape for the country.” Motsisi says that The Wife marked a monumental moment in the unveiling of Showmax’s scripted content slate as the most-watched show and captivated the nation, achieving record-breaking viewership and sparking endless conversations on social media.



Motsisi’s wish for our African broadcasting industry is for platforms to be open to hearing – and then telling – different types of stories and finding fresh voices to tell these stories. “African storytelling has a rich and vibrant tradition that holds immense cultural significance. There are many stories that are yet to be told and we have not even scraped the surface. The more voices are given opportunities; the more stories will be told; the more authentic stories are told; the better the industry becomes. This will inevitably create an affinity for and appreciation of our content for viewers locally and globally”.

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The Queens Of Local Content

As a firm that invests in African startup founders at the earliest stages of their entrepreneurship journey, we believe working with high-potential, tech-enabled ventures that are designed to serve real needs at scale can drive generational progress and prosperity across the continent. Doing so means supporting African founders in ways that recognize their needs and context, including the market dynamics shaping their approach to entrepreneurship.



Recognizing this unique need, and reflecting our pan-African ambitions, we improved our operating model to become 54 Collective &#8211; a venture capital firm that supports transformative technology ventures across the continent with catalytic capital and robust support through its Venture Success Platform.



<h4 class="wp-block-heading" id="h-a-new-chapter-for-54-collective"><a></a>A New Chapter for 54 Collective</h4>



54 Collective is building on an exceptional track record of investing in and scaling early-stage ventures in Africa, encapsulating our ambitious vision of helping entrepreneurs grow their businesses to serve all 54 African countries.



As a commercial-first investor embedding impact in every facet of its operations, 54 Collective offers equity and non-dilutive capital up to a total of $500,000, with an additional $150,000 in non-dilutive capital for female founders. This strategic move ensures a level playing field for youth and women founders, enhancing their opportunities to scale.



This catalytic capital and value-add support to founders, through our Venture Success Platform, signifies our ongoing mission to support entrepreneurs across Africa and enable them to build without boundaries to drive commercial and impact returns in ways that recognizes their unique needs. This offering has been shaped on insights from the continent’s founders and our own experiences in the ecosystem.



<h4 class="wp-block-heading" id="h-empowering-ventures-with-catalytic-capital-and-support"><a></a>Empowering Ventures with Catalytic Capital and Support</h4>



On occasion, African founders spend precious capital identifying a business model, while others move too quickly in adding staff or other costs before truly reaching product-market fit. As 54 Collective, we offer side-by-side support to help the continent’s founders navigate these challenges, anchored in our innovative Venture Success Platform.



The platform is a team of highly-experienced venture specialists that provide tailored support in product development, growth, commercial relationships, business strategy, talent acquisition, technology, and data. This comprehensive support prepares founders for investor readiness, access to funding, and strategies for fundraising, debt, and impact capital, empowering them to succeed globally and head off challenges that could undermine their growth.



This combination of significant funding and comprehensive support distinguishes 54 Collective as the only venture capital firm in Africa offering early-stage founders the highest amount of catalytic capital and support from the largest Africa-based venture capital team, comprising over 70 staff members in Kenya, South Africa, Nigeria, and the United Kingdom.



<h4 class="wp-block-heading" id="h-sector-agnostic-investment-strategy"><a></a>Sector-Agnostic Investment Strategy</h4>



We want to work with the best African founders and they are solving problems in not just fintech but other verticals too.



As a sector-agnostic investor, 54 Collective is ready to support innovation across all sectors. This broader approach helps entrepreneurs navigate complex challenges, achieve commercial success, and make a significant impact through economic growth and job creation.



So far, 54 Collective has supported more than 70 ventures and helped its portfolio startups raise over $140 million in follow-on capital. We recognize that, at different points in a founder’s journey, they need varying types and amounts of funding.



<h4 class="wp-block-heading" id="h-the-future-of-african-venture-capital"><a></a>The Future of African Venture Capital</h4>



Despite considerable growth over the last decade, Africa represents less than 1% of global venture funding, indicating a significant unmet need for smart capital. 54 Collective aims to bridge this gap by investing in 105 startups across Africa in the next five years, enabling entrepreneurs to address the continent&#8217;s biggest challenges and transform lives and industries.



We are targeting a portfolio where 50% or more of our startups are founded by women. Currently, 45% of the investments made up to July 2024 are women-led. The firm’s investments are also creating socio-economic impact, exemplified by Asaak, a vehicle asset financing company that has improved financial inclusion for over 11,000 boda boda drivers, significantly enhancing their quality of life and income.



<h3 class="wp-block-heading" id="h-conclusion"><a></a>Conclusion</h3>



54 Collective’s approach to funding African tech startups redefines investing for the venture capital ecosystem in Africa. With our catalytic capital, value-add Venture Success Platform, and commitment to empowering entrepreneurs, 54 Collective is redefining investing across the continent. By enabling founders to build without boundaries and solve some of Africa’s biggest challenges, 54 Collective is poised to drive transformative change and enable entrepreneurs to build without boundaries across Africa.



For more information about 54 Collective and their mission to support African startups, visit <a href="https://54collective.vc/">https://54collective.vc/</a>.

Bongani Sithole, CEO, 54CO

Africa’s Entrepreneurs Need Catalytic Capital, Side-by-Side Support To Build

Risk in investing is a feature, not a bug. It is, in fact, the reason we expect to earn higher long-term returns than provided by risk-free assets. When thinking about risk, investors should think equally about the investment term, too. The longer we remain invested, the lower the risk generally becomes – a principle that the most successful investors have well understood.



There are many sources of risk that might concern investors currently – making the case for diversification as strong today as it ever was. Below we highlight some of these risks and the opportunities they present.



When Will the Rates Abate?



Investors have been anticipating rate cuts from central banks as inflation has subsided. However, inflation can be challenging to control, and central banks have remained cautious longer than expected. When rates are eventually cut, it should be positive for fixed income bonds and equities, as borrowing costs for leveraged companies will decrease, and the risk-free rate used to value companies will reduce.



Impact of Middle Eastern Conflict on Equities



Oil is a crucial commodity, influenced by many factors, including OPEC’s coordinated supply, which represents almost 80% of the world’s proven oil reserves and about 40% of its production. Oil&#8217;s price significantly affects transportation costs and overall inflation, given its widespread use and role as a base ingredient in many products. However, new oil discoveries, such as those off the coast of Namibia, diversify supply and make the market more resilient to regional or geopolitical disruptions.



Global Diversification: Africa and India



Global diversification is crucial for South Africans as our market represents a small portion of global investment opportunities. Emerging markets generally offer higher economic growth potential, often reflected in their equity markets and offset by typically higher interest rates. The U.S. has benefited from low interest rates for over a decade, with its market led primarily by the innovative technology sector.



India, the fastest-growing large economy, has a substantial technology services industry and is priced at a significantly higher Price/Earnings multiple compared to the broad MSCI Emerging Markets Index. It is even marginally higher than the MSCI USA Index as it prices in future growth prospects. It’s an exciting investment market, but it should be part of a broader portfolio that also includes undervalued segments offering potential upside.



The Tech Bubble Question



Nico Katzke, Head of Portfolio Solutions at <a>Satrix</a><a href="#_msocom_1">[MS1]</a>&nbsp;,* believes that valuations across the global tech sector, although seemingly stretched at present, are largely on the back of more solid fundamentals and real opportunities than was the case in previous tech rallies. Tech index proxies, like the Nasdaq, are dominated by large corporations with strong cash-flows investing in their capacity to service tomorrow’s applications in AI. Growth opportunities remain in this sector, and it is unlikely to wane in its importance in the economy of tomorrow. Building diversified exposure to global tech through time, and not timing entry, seems the best approach at present.



Benefits of Offshore Diversification



At Satrix, we advocate investing primarily through well-diversified asset class exposures, tracking broad market indices. We review asset classes for medium- to long-term performance to inform a strategically-diversified asset allocation for our multi-asset balanced funds. We also target long-term drivers of excess returns within equities by tilting our portfolios towards well-recognized performance drivers, avoiding the temptation to profit from short-term market movements and noise.



Local Investments in South Africa



South Africa stands at a critical point 30 years after democracy. The new Government of National Unity, led by President Cyril Ramaphosa, aims to revive economic growth through policy reforms and restructuring. As these efforts take hold, investor confidence could lead to a re-rating in our equity market, currently trading at a discount (13.3x) to its long-term average (15.4x). Against this backdrop, the rand is likely to re-rate, posing a headwind to offshore investments as they devalue in rand terms. A stronger currency would give the South African Reserve Bank more freedom to cut interest rates, supporting local bonds.



While uncertainties remain, excluding the home market from investments may not be wise. Balancing global and local investments offers a robust strategy to achieve financial goals amidst uncertainty.



Approaches to Robust Diversification



Investors can ensure a diversified portfolio through several approaches:



<ol start="1" class="wp-block-list">
<li>Outsourcing to a Financial Adviser: A financial adviser can construct an appropriately diversified portfolio.</li>



<li>Investing in Multi-Asset Funds: Investment managers can diversify optimally across different asset classes and geographies.</li>



<li>Constructing a Multi-Asset Portfolio: Building a diversified portfolio by investing in different specialist asset class funds yourself.</li>
</ol>



Each option should be weighed against one’s life stage, investment expertise, and the time and information available to make informed decisions.



*Satrix is a division of Sanlam Investment Management



Disclaimer Satrix Investments (Pty) Ltd is an approved FSP in terms of the Financial Advisory and Intermediary Services Act (FAIS). The information does not constitute advice as contemplated in FAIS. Use or rely on this information at your own risk. Consult your Financial Adviser before making an investment decision. Satrix Managers is a registered Manager in terms of the Collective Investment Schemes Control Act, 2002. While every effort has been made to ensure the reasonableness and accuracy of the information contained in this document (“the information”), the FSPs, their shareholders, subsidiaries, clients, agents, officers and employees do not make any representations or warranties regarding the accuracy or suitability of the information and shall not be held responsible and disclaim all liability for any loss, liability and damage whatsoever suffered as a result of or which may be attributable, directly or indirectly, to any use of or reliance upon the information.       



<a id="_msocom_1"></a>

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Navigating Global Waters: Unlocking Offshore Diversification

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Manuel Moses commenced his role as the Chief Executive Officer of The African Trade and Investment Development Insurance’s (ATIDI) on December 1, 2020. He has over 25 years of experience in finance, banking, insurance, and investment at the international level.



Q. The African Trade and Investment Development Insurance’s 24th Annual General Meetings (AGM) was held in Zambia this year. Please share the highlights of this Pan-African event in line with the theme, “Empowering tomorrow, Enabling investment”.



A. Our AGM validated our results for 2023 and allowed us to bring together key government representatives, policy makers and investors to reflect on the event’s theme, which is aligned with Africa’s main development constraint: accessing capital to fund our continent’s development. In 2021, Africa received only 3.5% of global Foreign Direct Investment (FDI) flows, the lowest among the six continents, despite ample investment opportunities. Through extremely rich panels, deliberations identified ways and opportunities of addressing this challenge. Leveraging ATIDI’s unique de-risking solutions was one of them.



Q. Tell us more about ATIDI’s 2023 results, highlighting the positives despite significant geopolitical and economic challenges globally and in Africa.



A. 2023 was ATIDI’s best year since inception. Here are a few highlights:



<ul class="wp-block-list">
<li>Our profit for the year increased by 205% to US$69.1 million;</li>



<li>Our insurance revenue grew by 14% to US$155.7 million;</li>



<li>Our gross exposures grew by 19% to US$9.6 billion;</li>



<li>Our total assets grew by 27% to US$837.1 million;</li>



<li>Our equity grew by 25% to US$699 million; and</li>



<li>We declared a US$17.3 million dividend.</li>
</ul>



Our record performance is all the more outstanding as it comes in a period marked by uncertainties, slow global economic recovery, tight financial conditions and geopolitical tensions.



Q. Briefly describe the corporate strategic plan for the 2023-2027 period, which seems to be geared at optimizing the organization’s governance processes and performance to strengthen its developmental impact for ATIDI.



A. Our 2023-2027 corporate strategic plan is indeed ambitious. Its core pillars are product innovation, increasing our equity, our capital and our number of member states and institutional shareholders, optimizing our internal processes and corporate governance to optimize our efficiency, and strengthening our strategic partnerships and our stakeholder engagement. These are set to strengthen our status as the premier Pan-African risk mitigation institution, catalyzing the transformation of Africa into a prime destination for trade and investment.



Q. Has the re-branding of ATIDI in Africa increased your footprint on the continent? What is the current membership in numbers and are there any new countries in this period?



A. Our new brand better reflects our stature as one of Africa’s highest-rated financial institutions and most important multilaterals. As for our membership, ATIDI has grown from seven member states in 2001 at its creation, to 24 member states and 13 institutional shareholders today.&nbsp; In 2023, Angola and Mali became member states in the organization, while Japan’s Export Credit Agency, the Nippon Export and Investment Insurance (NEXI), joined ATIDI as an institutional shareholder. More recently, in early 2024, Burkina Faso and Chad became the latest joining member states in the organization.



Q. ATIDI’s net profit for the financial year ended December 2023 tripled on an increased uptake of the insurer’s political and credit risk products on the continent. Describe this success.



A. ATIDI notably achieved a net profit of US$69.1 million in 2023, representing a 205% year-on-year increase. This growth was driven by a strong deal flow, which resulted in significant new deals and renewals from ATIDI member states. Consequently, gross exposure grew by 18.6% to US$9.6 billion, up from US$8.1 billion the previous year.



Insurance revenue rose by 14% to US$155.7 million, with new deals contributing US$95.4 million. This success underscores ATIDI&#8217;s commitment to promoting trade and investment across its member states.



The more we grow our membership, the more we can engage and have impact. Our goal is to one day count each African country as a member of ATIDI. Imagine how much more of an impact we can have then.

CEO Pic

East African Insurer Prioritizing Innovation And Strategic Partnerships On The Road To Growth

The last two decades have seen a global narrowing of the gender wealth gap, with recent statistics indicating that 33% of the world’s wealth is held by women.


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With the Great Wealth Transfer on the horizon, it is anticipated that the next decade will see a $30 trillion transfer of wealth from male Baby Boomers to their wives and female children.



Despite having a third of the world’s wealth under their control, women continue to face challenges in the wealth management arena. Lucratia Mathe, Head of Client Value Proposition at Standard Bank Wealth and Investment SA, says that many of these challenges are based on a lack of understanding by others of women’s motivations and objectives for building wealth.



“As women, we see wealth in more than just material terms. To us, wealth involves a combination of financial freedom, personal fulfilment and emotional and physical wellbeing,” says Mathe. “At the same time, we have to overcome hurdles that differ from those of our male counterparts, which can negatively impact our wealth growth potential.”



“In addition to the gender pay gap, major life events like childbirth, divorce, widowhood and caregiving responsibilities can lead to fluctuating career patterns which affect both our time and financial resources,” Mathe continues. “Women also live longer than men, and this means that their wealth needs to last longer too.”



Taking a holistic approach



Mathe explains that there is a need for a holistic wealth advisory approach that takes these factors into account.



“At Standard Bank Wealth and Investment, we recognize that women do not want or need products that are different to the ones offered to men; instead, they want integrated solutions that are tailored to their personal goals and objectives,” she says.



“The solutions we offer have been created following in-depth consultations and engagements with women from all sectors of society, and are based on an understanding of what motivates and drives them; the challenges they face; and what their plans are for the future. Whether this involves short- and long-term liquidity planning, starting or expanding a business, pursuing philanthropic endeavors, or leaving a legacy for future generations, our aim is to support and empower our women clients on their wealth journeys.”



A platform for mutual support



Another important component of Standard Bank Wealth and Investment’s value proposition is their Women’s Wealth Academy. Designed to empower and equip high-net-worth women with the tools they need to build their individual, business and family legacies, it also provides a platform for discussion, interaction and mutual support.



“We believe that by sharing their personal experiences, challenges and motivations, women can inspire one another and truly make an impact, not just on a personal level, but in society as a whole,” Mathe says.



“South Africa is home to some of the top female thought leaders and custodians of our key social and economic development areas. With an abundance of courageous role models to choose from across different sectors, South Africa’s women are not only leaving a legacy for their younger peers, but their insights and resilience are truly inspiring.”



“They have continued to build on the legacy of the 20,000 fearless women who marched to the Union Buildings on the 9th of August 1956 to advocate for freedom of movement,” Mathe continues.



“Their actions paved the way for our constitutional democracy, and the quote, ‘You strike a woman, you strike a rock’, continues to inspire and strengthen women from all walks of life today.”



Paving the way for future generations



“At Standard Bank Wealth and Investment, we recognize the immeasurable influence and transformative impact that women have in society, and we are committed to delivering relevant, innovative solutions that elevate their wealth ambitions,” Mathe says.



“This will ensure that the legacies they leave behind will not only inspire and empower the next generation, but also provide them with a firm foundation upon which they can build and create future wealth.”

IMG_9938

Women’s Wealth: Redefining The Future

Africa has a young and diverse population, spanning 54 countries, with over 3,000 languages and even more ethnic tribes, serving as a great source of inspiration for rich storytelling. Local audiences want to see themselves on screen. It’s something we’ve seen play out again and again, all around the world, and it’s certainly true here on our home continent.



MultiChoice remains the largest producer of original content on the African continent.



“In the last year, we produced 6,502 hours of local content, taking our collective local content library total to 84,871 hours. The MultiChoice platform hosts over 30 proprietary, dedicated local content channels across 10 markets,” explains Nomsa Philiso, CEO: General Entertainment at MultiChoice Group, speaking at the opening of MIP Africa, hosted in Cape Town from September 1-7, 2024.



The MultiChoice Group has 39 years – and counting – of video entertainment industry experience and market leadership; a unique understanding of the African continent, customers’ entertainment preferences in different markets, as well as their broader consumer needs and deep experience in critical operational fields such as content licensing, production, packaging and distribution, advertising sales, as well as in regulation and administrative fields such as taxation.



“Africa is a challenging market because of those differences. We’ve faced every challenge you can imagine, and a few more you probably can’t, and have had to be creative innovators at every hurdle,” says Philiso.



“We have had to be as tenacious as the people we serve, who get up every day to make ends meet amid very challenging macroeconomic conditions. Their commitment inspires us to remain deeply committed to unearthing opportunities in Africa”.



Philiso says that the differences between us also make it near-impossible to speak about a unified Africa market – nor should we.



“Our stats show clearly that Nigerians are watching Nigerian content, Kenyans Kenyan content, and South Africans their own content, with little overlap. That said, there are exceptions, like Big Brother Naija and The Real Housewives of Lagos and Nairobi, but they’re few and far between – and that’s evidence that our hyper-local focus on content is working. MultiChoice is deeply rooted in the communities in which we operate. Our entertainment speaks to people in their own languages and tells stories in which their own lives are reflected.”



“It’s important to us to never forget that our reason for being is to make beautiful stories for very different Africans, in our indigenous languages and set in our diverse communities,” says Philiso.



“When we start by looking for what is most personal, we find the things that are most universal, but it doesn’t work as well the other way around. When we start asking, ‘How do we make a show for the whole world?’ it’s easy to start to over-explain, or over-simplify, or start to cheat geography and casting and accents.”



Philiso believes that the more content is made for communities, the greater the increase in investment interest and better-quality content &#8211; which will inevitably travel further and further around the world.



“Expanding our focus on local channels, we launched Afia TV in the Nigerian Igbo language and Maningue Magic in Mozambique, along with Maaddii Abol in East Africa featuring content in the Oromo language, the fourth most widely spoken African language,” she says.



Nigeria is the country of honor at MIP Africa this year, and Africa Magic has played a significant role in MultiChoice’s transformation, producing over 25,000 hours of authentic Nigerian content. As Africa Magic celebrates its 21st anniversary, its impact is evident in how African storytelling continues to inspire, connect, and drive progress across the continent.



“We’ve had arguably our best year ever for content &#8211; the heart of what we do. We&#8217;ve seen shows like Shaka iLembe, Sibongile &amp; The Dlaminis, Outlaws, The Mommy Club and Adulting set viewing records on their respective launch platforms &#8211; with Shaka iLembe seeing more than four million views on its premiere episode and becoming the most searched TV series on Google in South Africa,” says Philiso.



“We’ve also seen increased international recognition, with productions like Spinners, surpassing our expectation and becoming the first African series at Canneseries and winning at the Shanghai TV Festival’s Magnolia Awards, amongst a growing list of awards it continues to win. Catch Me A Killer became the first African series to feature at Series Mania, Rise: The Siya Kolisi Story won at Tribeca, Two Sides was nominated at the International Emmys and Wyfie was nominated for ‘Best TV Series’ at Seoul and the Global Production Awards, presented by Screen International in Cannes.”



MultiChoice aired three successful co-productions on linear, namely Reyka season 2, Devil’s Peak and White Lies, which were produced in collaboration with international partners at Fremantle, Canal +, and Abacus Distribution and BBC Studios-owned Lookout Point. Devil&#8217;s Peak, the crime thriller based on the best-selling 2004 novel by Deon Meyer, continues to garner international attention. The series was sold to Fox’s Tubi video-on-demand platform for exclusive streaming in the U.S. and Canada in January 2024. White Lies is an eight-part drama co-produced by M-Net, Quizzical Pictures and Fremantle, starring award-winning actress Natalie Dormer (Game of Thrones, The Hunger Games, Picnic at Hanging Rock) and Brendon Daniels (Four Corners, Skemerdans, Trackers).



MultiChoice continues to work alongside international partners including Fremantle to STUDIOCANAL to take African stories to the world, and co-producing with the likes of Banijay, the BBC, CANAL+, HBO and NBCUniversal.



“You can now see MultiChoice content all around the world,” says Philiso.



“Spinners made it to #6 on the CANAL+ charts in France during its primetime run there. Reyka is licensed to over 150 territories; Recipes for Love and Murder to over 90; Whites Lies to the likes of Sundance Now; Catch Me A Killer to the likes of Britbox; and The Real Housewives of Durban to the likes of Hayu, Bravo and Peacock,” Philiso adds. “As it stands, as MultiChoice, we have over 84,000 hours of local content to showcase on the world stage.”



Through initiatives like the Africa Magic Viewers’ Choice Awards (AMVCAs), the African film industry has seen significant growth, investing ₦9 billion in the sector over the past decade. The AMVCAs have elevated African film standards, gained international recognition, and fostered talent.



The MultiChoice Talent Factory is a continent-wide skills-development initiative that has also helped foster talent. We have academies in Lagos, Johannesburg and Nairobi offering training, masterclasses and industry network sessions. We are upskilling young filmmakers and empowering them to direct their love for production and filmmaking into our industry. Talent Factory graduates are now playing key roles across the industry &#8211; like Nandisa Mkhize, the head writer on Showmax’s hit teen telenovela Youngins.&nbsp;



“Where others dip a toe, white label a platform, test a business case, make a splash and then disappear without a trace, MultiChoice has always been &#8211; and we will remain,” says Philiso. “Africa is not our side hustle.”

Nomsa-Philiso NEW

Africa’s Greatest Storyteller Doubles Down On African Content

<div class="wp-block-image">
<figure class="aligncenter size-full"><img loading="lazy" decoding="async" width="395" height="181" src="https://cms.forbesafrica.com/wp-content/uploads/2024/08/Outlook-cxkpgodw.png" alt="" class="wp-image-62951" srcset="https://cms.forbesafrica.com/wp-content/uploads/2024/08/Outlook-cxkpgodw.png 395w, https://cms.forbesafrica.com/wp-content/uploads/2024/08/Outlook-cxkpgodw-300x137.png 300w" sizes="(max-width: 395px) 100vw, 395px" /></figure></div>


ATFX, a globally-regulated and award-winning fintech broker, has set its sights on Africa.&nbsp;&nbsp;



To expand its operations on the continent, ATFX acquired Khwezi Financial Services (FS), a South African forex and CFDs broker based in Cape Town. With an established clientele and a commitment to customer service, Khwezi FS was one of the first non-bank, financial services provider in the country to be licensed as an over-the-counter derivatives provider (ODP).&nbsp;&nbsp;



Now operating as ATFX Africa, the local brokerage forms part of ATFX’s global business led by Linton White, ATFX’s new regional head, and Monty Barnard, ATFX Africa’s COO.&nbsp;&nbsp;



Local expertise, global knowledge&nbsp;



“We’re driving ATFX in South Africa. We have a big task ahead of us but we’re very excited,” says White.&nbsp;&nbsp;



ATFX started in 2017 and currently has 23 locations around the world in countries such Australia, the U.K., Cyprus, Malaysia, Jordan and Dubai. It has also been ranked the fourth largest broker of its kind in terms of the total volume of contracts for difference (CFDs) and derivatives traded on the MetaTrader 5 trading platform.&nbsp;&nbsp;



“We’ve got good coverage on most of the continents and a key eye on expansion,” says White.&nbsp;&nbsp;



Tasked with establishing ATFX’s footprint in South Africa and with a goal of moving further up the continent by 2025, White explains that ATFX was particular about what they were after when making the South African acquisition. Being fully-licensed was the first step, but ATFX also required local knowledge and expertise from the people who were part of those companies.&nbsp;&nbsp;



“That’s what sets ATFX apart from a lot of the other global brokers,” says White, adding, “They’ve focused on maintaining the local presence, knowledge and expertise instead of bringing in an international template and applying that to a local business.”&nbsp;&nbsp;



White believes that the autonomy ATFX has given to their Africa-based team will be paramount to the success of the business.&nbsp;&nbsp;



“It’s not a straightforward process. When you’re a key part of South Africa’s financial infrastructure, you need the regulator’s approval on anything that you do,” says Barnard. “That said, it was and still is a very exciting process. The team is growing and we’re expanding quickly.”&nbsp;&nbsp;



Unlike other acquisitions where a business is bought out and the staff let go, the entire Khwezi team moved across to ATFX, which was an important part of the deal.&nbsp;&nbsp;



“We’ve simply built on from the great team that we originally had,” says Barnard, who also shares that one of the highlights of being a part of ATFX was the annual dinner in Vietnam earlier in the year.&nbsp;&nbsp;&nbsp;



With over 700 employees worldwide, seeing the global team together was not only an unforgettable experience but a reminder of what makes ATFX different from its competitors.&nbsp;&nbsp;



“There’s a lot of copy-and-paste-style businesses and brokers in our space and they all tend to focus on what the competition is doing in order to present themselves as a competitor,” says White.&nbsp;&nbsp;



“But ATFX is a completely different business and we’re approaching the industry with a unique perspective because we don’t just want to be seen as another competitor.”&nbsp;&nbsp;



The perfect match&nbsp;



From ATFX’s client-centric approach to maintaining the highest standards of regulatory compliance, White likens their customer service to what you would receive from a personal banker – professional, personalized and respectful.&nbsp;&nbsp;



“… [to] not immediately go for the jugular and get deposits and force transactions, it’s more about taking care of the clients and making sure that their needs are met rather than trying to force them to meet ours,” says White.&nbsp;&nbsp;



“It’s one of the reasons the two brands, Khwezi and ATFX, came together. The focus is the client. It’s all about treating them fairly,” adds Barnard. “This industry can be cutthroat and sometimes the consumer comes second. We want to change that; we want people to trust us while we accommodate all of their requests quickly.”&nbsp;&nbsp;



Being one of the first non-bank financial services providers in South Africa with an ODP license, ATFX could also be assured that Khwezi FS aligned with the global standards of regulatory compliance and security that the company upholds.&nbsp;&nbsp;



Acting as an agent of one of the five major banks in South Africa, ATFX Africa is allowed to open segregated bank accounts for clients which means, from an administrative point of view, the funds are kept completely separate from the fintech broker’s day-to-day accounts.&nbsp;&nbsp;



“Investors want to know that their money is going to be safe and this gives our clients an extra layer of security,” says Barnard.&nbsp;&nbsp;



“We also work quite closely with the banks, sharing FICA processes and they conduct annual checks to make sure we’re doing things the right way.”&nbsp;



As for the services ATFX offers, they provide a comprehensive range of financial services in Africa such as trading in currencies and commodities like gold and oil, and indices like the S&amp;P 500, Dow Jones and NASDAQ. In South Africa, ATFX uses MetaTrader 5 which is one of the most popular trading platforms among brokers worldwide.&nbsp;&nbsp;



“The ODP license is fairly new as there are only 11 of these licenses locally which have been awarded to non-banks. These licenses determine what we can sell and are determined on aspects like capital adequacy and manpower,” adds Barnard.&nbsp;&nbsp;



“But with the ATFX acquisition, there are big plans for Q3 and Q4 of this year regarding what we can add to those products such as shares or crypto. The sky’s the limit.”&nbsp;&nbsp;



Being the fourth largest brokerage, globally, comes with other benefits like a big liquidity pool which means competitive trading fees – an advantage in a high-risk trading environment.&nbsp;&nbsp;



Giving back, moving forward&nbsp;



Handling billions of dollars in transactions every day, it’s easy to assume that ATFX would be purely focused on maximizing revenue but the fintech broker’s extensive educational resources demonstrate its commitment to prioritizing clients&#8217; needs and long-term success over short-term profits.&nbsp;&nbsp;



“In Africa, there is major opportunity for a broker who is legitimate, trustworthy and focused on educating those who need access to these kinds of resources,” says White, who adds that they’re also in talks with some of the larger institutions across South Africa about scholarships and internships going into 2025.&nbsp;&nbsp;



Globally, ATFX is also the official partner to the Duke of Edinburgh Cup, an international event that raises funds for children in need.&nbsp;&nbsp;



“It&#8217;s not just about making money for the business, but it&#8217;s about how you provide and give back to the community,” says White. “Personally, and professionally, you need to treat everyone with the same level of respect.”&nbsp;&nbsp;



For both White and Barnard, this is only the beginning. With all the noise around regulations, they believe that ATFX is the broker that everyone has been waiting for.&nbsp;&nbsp;



“Being able to represent ATFX in Africa is not only exciting, we feel privileged to work for them,” says Barnard. “There’s definitely a need for growth in the South African brokerage space and we’re poised to be that entity going forward.”&nbsp;

PNG image

Customer-Centric And Growth-Focused, This Fintech Is Moving Onwards And Upwards 

Meet <a href="https://www.linkedin.com/in/elizabeth-rossiello-589b8b1/" target="_blank" rel="noreferrer noopener">Elizabeth Rossiello</a>, CEO and founder of the global b2b fintech, <a href="http://www.azafinance.com/" target="_blank" rel="noreferrer noopener">AZA Finance</a>. Founded in Nairobi in 2013, the company’s mission is to power African trade and accelerate the growth of businesses across the continent. The last decade has seen AZA Finance serve more than 1.5 million customers, making them the most experienced fintech for businesses operating in frontier markets and currencies.&nbsp;



In 2021, Rossiello was in the inaugural class of Bloomberg’s New Economy Catalysts, and AZA’s progress under her purview has led her to be named as one of the Standout 45 in the Women in FinTech Powerlist by Innovate Finance every year since 2022. Under her leadership, AZA was recently named a Top 50 Inspiring Workplace in the Middle East and Africa, and was shortlisted for FinTech Future’s PayTech Awards for the Best Use of Tech in the Business Payments category. In 2021, AZA Finance was also named as one of the global top 10 Most Innovative Companies by Fast Company.&nbsp;



Journey and global footprint&nbsp;



In 2009, Rossiello was working in Nairobi, Kenya, as a ratings analyst for financial institutions. Frustrated by the low ratings and mistrust Western institutions had in African currencies, she set out to understand why they chronically underserved African economies in this way. The answer, at the time, was currency connections. When abroad, it was impossible to send money back to Kenya as Kenyan shillings. Millions of people, including AZA’s founding team, traveled across Africa for work, but could not top-up or send payments to their home networks when out of the country. It was possible to use a country’s currency for everything while physically there, but as soon as you left its borders, access evaporated. The reason for this lack of access was that many financial institutions didn’t offer African currency pairs. The only currency pair was with a G20 currency, like the US dollar, meaning that every African-to-African currency transaction was slower and more expensive. The financial infrastructure to connect currencies and markets directly was starting to be explored by fintechs like AZA Finance, but also by digital currency enthusiasts – and it would be key to realizing Africa’s predicted trillion-dollar growth.&nbsp;&nbsp;



AZA Finance was born with the aim to bridge the currency and financial services gap for African businesses, using fintech as the solution for better and cheaper FX, payments, and treasury.&nbsp; Even to this day, major financial institutions in London, New York and Frankfurt, among others, still offer very high prices for African currencies because they don&#8217;t have much data about the market. AZA does, which is why they can be competitive in their pricing, speed, and access.&nbsp;



Today, AZA’s offices in Ghana, Kenya, Nigeria, Senegal, South Africa, Spain, Uganda and the United Kingdom (UK) allow the company to be active across Africa, Europe, and North America (with payments coverage throughout Latin America, the Caribbean, and Asia).&nbsp;&nbsp;



Now, African businesses (as well as multinational companies operating in Africa, or other enterprises and NGOs expanding in Africa) can operate in more markets more efficiently. By providing the tech layer that syncs all of the financial players – banks, mobile money, payments services providers, money transmitter organizations, cash networks, fintechs – AZA has found a way to provide licensed, secure, stable and reliable business payments, FX, and treasury. When a customer comes to AZA, they can reach the continent.&nbsp;&nbsp;&nbsp;



Additionally, AZA Finance is fully regulated and licensed by the Bank of Uganda, the Central Bank of Nigeria, The South African Reserve Bank, Bank of Spain, and the UK’s Financial Conduct Authority. It is also certified by world-class security standards including PCI-DSS, ISO27001 and SOCII.&nbsp;

Corporate Photographer London

Fintech Finesse: How a Founder in Nairobi Bridged the African Currency Gap 

Gugulethu Siso, Chief Executive Officer, Thumeza, on inclusive development and unleashing the economic power of the African woman. 



In the dynamic world of African entrepreneurship, Gugulethu Siso stands out for her resolve and resilience. As the Chief Executive Officer of Thumeza, a fintech company serving the logistics industry, expanding its footprint across Africa through strategic partnerships such as the one with Lori Systems, Siso exemplifies the challenges and triumphs of navigating business as an African woman. Her journey is marked by a fearless approach to problem-solving, a keen eye for overlooked opportunities, and a relentless drive to uplift others. In a continent where identity and access to financial services often limit women’s participation in economic growth, Siso is not just breaking barriers — she&#8217;s creating new pathways for women to thrive in the entrepreneurial landscape.&nbsp;



<ol start="1" class="wp-block-list">
<li>As a serial entrepreneur passionate about sustainable and inclusive development, what strikes you about the realities of founding and successfully running a business as an African woman? </li>
</ol>



A unique blend of audacity and resilience marks the African entrepreneurship journey. It takes audacity to challenge the status quo and navigate spaces where representation is limited. The key is to embrace failure, not as a setback but as a learning opportunity — don’t take it personally as hard as it may seem. Every venture should be treated as an experiment; start small, test in a controlled environment, and then scale up when proven successful. Also, don’t shy away from investing in opportunities. While prudence is important, sometimes you must take financial risks to unlock growth even though it may be uncomfortable.&nbsp;



<ol start="2" class="wp-block-list">
<li>What inspired you to become an entrepreneur, and what hurdles along your journey taught you the most profound lessons about entrepreneurship? </li>
</ol>



My journey into entrepreneurship was inspired by a desire to solve everyday problems that have a significant impact on the daily lives of Africans. My first venture involved providing retail management solutions by servicing shopping trolleys for retail companies. This idea came from a personal frustration —walking into a store only to find malfunctioning or dirty trolleys. The trolley industry is part of the much-larger retail industry that in 2018 alone, had ZAR500 billion ($27 billion) in sales. This experience has shaped my approach to new ventures: identifying what impacts people’s daily lives but is often overlooked. This mindset has consistently led to solid, sustainable business models.&nbsp;



<ol start="3" class="wp-block-list">
<li>An estimated 500 million Africans, many of them girls and women, lack proof of identity. Further, one billion women across the world, many of them in Africa, do not have access to formal financial services. What connections do you see between this and the limitations to women’s full participation in entrepreneurship and economic growth? </li>
</ol>



Lack of proof of identification and limited access to financial services are interconnected with the barriers to women&#8217;s participation in entrepreneurship and economic growth. Identification is the cornerstone of a citizen&#8217;s ability to contribute to economic activity, both within their home country and across borders. Without it, access to education, civic engagement, let alone participation in economic activities becomes even more difficult stifling the woman&#8217;s potential to contribute to their community and the greater economy. As a result, women without identification are more likely to face significant hurdles in accessing essential services like banking and formal employment opportunities excluding them from financial activities.&nbsp;&nbsp;



<ol start="4" class="wp-block-list">
<li>Studies have shown that Digital Public Infrastructure (DPI) can unleash women’s economic power by including them in the formal financial system. How can DPI be applied in the African context to empower more women, especially as entrepreneurs? </li>
</ol>



Digital Public Infrastructure can empower African women, especially entrepreneurs, by integrating them into the formal financial system. In contexts where many lack formal identity documents, community leaders like village headmen can verify identities at the grassroots level, enabling access to essential services. This process can be enhanced by digital blockchain-based identity systems, providing secure, decentralized identities for those excluded from banking due to lack of documentation. Combining community-led verification with blockchain technology can help bridge gaps in financial inclusion, empowering women to fully participate in entrepreneurship and economic growth.&nbsp;



<ol start="5" class="wp-block-list">
<li>What systems do you think countries need to urgently put in place to advance efforts to empower women through business, and what would you say to young African women striving to succeed in business in the (temporary) absence of these systems? </li>
</ol>



Key to the need to empower women in business is through enforcing gender-based policies, particularly in procurement. Many countries already have policies that mandate a certain percentage of government contracts be awarded to women-owned businesses, but these need to be rigorously enforced and expanded.&nbsp;&nbsp;



For young African women striving to succeed in business, I would say, be resilient and resourceful. Network as much as you can as goodwill is what makes the world go round in business and that can only be leveraged from relationships. These relationships will then open doors in the form of new business opportunities, funding etc that may seem difficult to attain.&nbsp;

Gugulethu Siso, Chief Executive Officer, Thumeza

Creating New Pathways For Women To Thrive 

The University of Johannesburg (UJ) has consolidated its position among the leading institutions of higher learning in the world, soaring to its highest-ever position in the global rankings.



The educational institution secured the #36 position in the <a href="https://www.timeshighereducation.com/world-university-rankings/university-johannesburg">Times Higher Education (THE) Impact Rankings</a> released in June this year. This is quite a feat for a university, considering that this year’s rankings included 1,963 institutions, an increase of 372 from the previous year.&nbsp;Its &nbsp;standing in these global rankings marks a significant rise of 10 places from its previous position of #46 in the 2023 edition.


<div class="wp-block-image">
<figure class="aligncenter size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="682" src="https://cms.forbesafrica.com/wp-content/uploads/2024/08/Professor-Letlhokwa-Mpedi-–-Vice-Chancellor-and-Principal-of-the-University-of-Johannesburg.-Photo-UJ--1024x682.jpg" alt="" class="wp-image-62833" style="width:726px;height:auto" srcset="https://cms.forbesafrica.com/wp-content/uploads/2024/08/Professor-Letlhokwa-Mpedi-–-Vice-Chancellor-and-Principal-of-the-University-of-Johannesburg.-Photo-UJ--1024x682.jpg 1024w, https://cms.forbesafrica.com/wp-content/uploads/2024/08/Professor-Letlhokwa-Mpedi-–-Vice-Chancellor-and-Principal-of-the-University-of-Johannesburg.-Photo-UJ--300x200.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2024/08/Professor-Letlhokwa-Mpedi-–-Vice-Chancellor-and-Principal-of-the-University-of-Johannesburg.-Photo-UJ--768x511.jpg 768w, https://cms.forbesafrica.com/wp-content/uploads/2024/08/Professor-Letlhokwa-Mpedi-–-Vice-Chancellor-and-Principal-of-the-University-of-Johannesburg.-Photo-UJ--1536x1022.jpg 1536w, https://cms.forbesafrica.com/wp-content/uploads/2024/08/Professor-Letlhokwa-Mpedi-–-Vice-Chancellor-and-Principal-of-the-University-of-Johannesburg.-Photo-UJ--2048x1363.jpg 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Professor Letlhokwa Mpedi – Vice-Chancellor and Principal of the University of Johannesburg. (Photo, UJ)</figcaption></figure></div>


Consistently leading as the top university in Africa and South Africa, UJ has also maintained its #1 spot in both these regions.



This achievement is for its exceptional contribution to poverty alleviation, securing the top position in Sustainable Development Goal (SDG) 1: No Poverty. UJ now ranks #3 globally in this SDG category, highlighting its firm commitment to research and support initiatives aimed at assisting impoverished students and local communities.



It also highlights UJ&#8217;s dedication to addressing some of the world’s most critical challenges, including environmental sustainability, social inclusion, economic growth, and collaborative partnerships.



UJ’s performance across individual SDGs is commendable, achieving top 100 rankings in six SDGs:



#3 for SDG 1: No Poverty



#6 for SDG 8: Decent Work and Economic Growth



#13 for SDG 5: Gender Equality



#46 for SDG 10: Reduced Inequalities



#53 for SDG 4: Quality Education



#93 for SDG 2: Zero Hunger



The univrsity’s rankings for other SDGs are as follows:



101-200 for SDG 7: Affordable and Clean Energy



101-200 for SDG 12: Responsible Consumption and Production



201-300 for SDG 9: Industry, Innovation and Infrastructure



201-300 for SDG 17: Partnerships for the Goals



301-400 for SDG 6: Clean Water and Sanitation



301-400 for SDG 16: Peace, Justice and Strong Institutions



401-600 for SDG 11: Sustainable Cities and Communities



401-600 for SDG 3: Good Health and Well-being



401-600 for SDG 13: Climate Action



Apart from its showing in the THE Impact Ranking, UJ continues its strong performance in the QS World University Rankings, maintaining its position among the top 350, globally. UJ is also recognized as the most improved African institution over the past five years. Previously, the THE Young University Rankings named UJ as the leading university in South Africa and Africa among institutions under 50 years old.



“This recognition of UJ in the various global rankings&nbsp;highlights the university’s rapid growth and outstanding potential in the global academic arena. Despite its relatively short history of 20 years of existence, UJ has demonstrated exceptional progress, challenging well-established institutions, some of which have more than a century of legacy,” says Letlhokwa George Mpedi, UJ Vice-Chancellor and Principal.



“The university remains steadfast in its commitment to addressing societal challenges through research and knowledge production. Our progress is not just about numbers and figures; it’s all about the positive and lasting impact we have on our students and the broader society.”

Auckland Park Kingsway Campus. Photo, UJ

South African University Achieves Its Highest-ever Position In Global Rankings

At the 2nd National Presidential SMME and Cooperative Awards, President Cyril Ramaphosa stated that “focusing on Small, Medium and Micro Enterprises and cooperatives can trigger growth, create jobs and build a more inclusive economy”.



According to the International Finance Corporation, Small, Medium and Micro Enterprises (SMMEs) in South Africa provide an estimated 50-60% of all employment opportunities and contribute approximately 34% to the GDP.



SMMEs have played a crucial role in democratizing the labor market and driving inclusive economic growth. However, South African SMMEs have faced significant economic challenges since the onset of Covid-19, struggling to expand and grow. With an estimated 2.4 million SMMEs in South Africa, these enterprises often need help to secure the necessary funding to achieve their business objectives.



In this context, private debt funds could play a significant role in stimulating economic growth by bridging the funding gap experienced by SMMEs.



Private debt (or direct lending) funds are non-bank lenders that provide loans to support the financing needs of businesses that traditional banks typically would not fund. Like banks, private debt funds extend loans and borrowers are obligated to fulfil certain terms and conditions over the debt term. However, unlike banks, these funds can offer flexibility, shorter lead times, and niche expertise that SMMEs need when accessing debt to support their unique business requirements.



The question then arises: why are our banks not funding SMMEs? The reluctance of banks to lend to SMMEs can be attributed to cost-benefit considerations. For example, if an entrepreneur seeks a business loan ranging from ZAR1 million to ZAR20 million ($54,848 to $1.09 million), the costs and time involved in processing such loans render them relatively unprofitable for banks.



According to recent Bloomberg data, the global private debt market has grown by over 12% annually, reaching approximately $1.6 trillion in assets under management. There are several reasons for this trend.



A significant driver behind the proliferation of private debt was the introduction of Basel banking rules in 2008. These ‘regulation-imposed constraints’ on banks make it less economically viable for them to lend to SMMEs.



This growth reflects a broader trend towards alternative lending solutions that can offer more flexible and tailored financing options for businesses.



Private debt funds can help bridge the funding gap by channeling much-needed credit to the mid-market, which serves as the engine of growth in South Africa. Addressing this funding gap will create employment opportunities and contribute significantly to the broader economy.



The Sasfin RBN Enhanced Jobs Fund exemplifies the significant impact private debt funds can have. By financing a new packing line for an agricultural business, the fund enabled the company to meet both current and future production demands. This expansion is projected to create 200 seasonal jobs, showcasing the positive ripple effects that such investments can have on our economy.



Stories like these highlight the vital role private debt funds play in driving growth and creating employment opportunities.



Additionally, private debt funds benefit investors. South African investors’ appetite for private debt and equity is increasing, which can be partly due to the lack of opportunities on the Johannesburg Stock Exchange (JSE), which has seen over 400 companies delist in the past two decades.



Private debt offers the potential for higher current income and returns compared to below investment-grade fixed-income alternatives, leveraging the illiquidity premium or the excess return potential from investing in assets that cannot be easily converted to cash.



Looking ahead, the future of private debt in South Africa appears promising. With ongoing regulatory support and growing success stories, private debt funds are well-positioned to play a pivotal role in fostering economic resilience and growth.

MPHATHI YENGWA, ANALYST CREDIT RISK, SASFIN

A Solution To South African Unemployment And Economic Growth

Federal Express Corporation (FedEx), the world&#8217;s largest express transportation company, has celebrated a decade driving growth and sustainability in Africa.



Since entering the African market, FedEx has strategically expanded its footprint. The acquisitions of SupaSwift in 2014, and TNT in 2016, solidified FedEx’s position as one of Africa&#8217;s leading domestic and international transportation solutions providers.



FedEx has always been conscious of its social and environmental impact, aiming to deliver responsibly and resourcefully for communities worldwide. To mark ten years of operations, Taarek Hinedi, Vice-President of FedEx Middle East and Africa Operations speaks about the company’s commitment to Environmental, Social, and Governance (ESG) principles, its evolving impact in Africa, and progress in Sub-Saharan Africa.



Q. Can you share some key FedEx sustainability goals for the coming years?



A. We are focused on optimizing our network to meet the evolving needs of customers and to, ultimately, build a more intelligent enterprise that can deliver a sustainable future and smarter supply chains for all. By investing in network efficiency and resilience, we work to reduce our environmental footprint, while growing responsibly and creating a simplified customer experience.



Our enterprise-wide sustainability goal is to achieve carbon-neutral global operations by 2040, guided by strategic principles that also support the transition of the transportation and logistics industry. To decarbonize our operations, we have interim goals for electric pickup and delivery vehicle purchases and sustainable fuel procurement.



Q. How does FedEx balance business objectives with its commitment to environmental stewardship?



A. Our philosophy of practical sustainability drives us toward responsible business stewardship while innovative solutions improve efficiency. We match technology to operating environments, to ensure reliability and help us deliver the superior service our customers expect.



Business objectives and environmental stewardship aren’t always in competition: improving energy efficiency can reduce fuel and energy costs.



Q. What impact has the introduction of electric vehicles had so far in Africa?



A. Introducing electric vehicles is a promising recent initiative that commenced in June 2023, with the deployment of ten electric vehicles in South Africa. While it is still early to gauge the full extent of the initiative&#8217;s impact, swapping traditional internal combustion engine vehicles for zero-emissions electric models does contribute to cleaner air, and aligns with our global sustainability goals.



Initial trials assessed the MAXUS eDeliver 3 model’s performance on standard routes. It has a 240km range on a single charge, which has proven sufficient for typical delivery routes, ensuring our technology can cater to network demands and customer expectations.



Q. Please highlight some impactful charitable FedEx initiatives in Africa.



A. Under the FedEx Cares umbrella, we have partnered with various non-profit organizations to deliver resources that improve the lives of those we serve.



In FY24, through a collaboration with The Wana Johnson Development Project, we donated a new container classroom, which serves as a Montessori Center for children in Taweni in Eastern Cape, South Africa.



We also donated two boreholes to Kanana, an underserved town in South Africa’s Gauteng province, to alleviate the area’s water shortage and help residents access clean drinking water.



Q. How does FedEx support local businesses and entrepreneurs in Africa?



A. FedEx enables SMEs to reach their full potential by connecting them to a world of possibilities through the strength of our global network, tailored services, and digital solutions.



In South Africa’s thriving wine industry, for example, we sponsor the FedEx Next Generation Awards, which recognizes start-up wine producers. This is in line with our specialized export solutions, where we offer free packaging designed specifically for shipping wine internationally. This has broadened our customer network and allows high-speed transit times through the world’s largest cargo airline.



We also support our customers’ sustainability goals and help them make informed supply-chain decisions with digital solutions. Our direct-access emissions reporting tool, FedEx® Sustainability Insights, is available in 34 languages and provides emissions estimates at package and account level for eligible shipments.



Such offerings can benefit business partners as well as the planet at large.

20170912_MK_09499_11963053 1

Marking A Decade Of Business And Social Impact In Africa

In the dynamic world of street dance, passion and perseverance pave the way for success. Living out this ethos is South African born B-girl turned businesswoman, Courtnaé Paul.



At the age of 21 and with just ZAR600 ($33) in her pocket, Courtnaé Paul pursued her dream of dancing on bigger and better stages and set out to carve her own path in the world. It is this determination that propelled her to turn her passions into paychecks.



Paul has found a way to combine her passion for dance, sport and culture, and has progressed in leaps and bounds, from practicing breaking (Breakdancing) in her bedroom in Durban in South Africa’s KwaZulu-Natal province, to flipping the business world on its head, through her company, CP Entertainment (CPE), by collaborating with world renowned brands on various projects around the globe.



This includes her role as the entertainment sponsor at the 2024 FORBES WOMAN AFRICA Leading Women Summit.



CPE has become a home for local dancers to explore the world of dance-business, whilst playing a role in creating sustainable careers for an industry that is often not well-supported.



Recognizing the limited opportunities and resources available for street dancers, Paul sought to create platforms that would empower and support the community she cherished.



Her first foray into business was the establishment of dance workshops and training programs. These initiatives aimed to nurture young talent, providing them with the skills and confidence to excel both on and off the dance floor.



Her talent quickly garnered attention, and she became a prominent figure in the South African music and dance scene. As a B-girl, Paul has competed in numerous national and international competitions, earning accolades and respect from her peers.



Her unique style, characterized by fluidity, precision, and flair, set her apart in a male-dominated arena. With breaking now added as an Olympic sport, Paul has pushed boundaries for male and female African breakers alike, by ranking top of the continent at the inaugural Olympic Qualifier Series held recently in Shanghai and Budapest, respectively.



As a speaker at the FORBES WOMAN AFRICA summit, Paul shared her story about being the middle child of three girls and copying everything her male cousins did, to the loss of her dad at a young age and having to navigate life without the only person who made her feel like she belonged.



This moment, Paul said, completely changed her life. It was what propelled her into the trailblazer the world knows her as today.



Beyond dance, the award winning 4x SA breaking champ and Red Bull BC One Ambassador has also ventured into music and bagged her first South African Hip Hop Award nomination for DJ of the Year.



She has played on notable stages like Back To The City and Rocking the Daisies, and has also shared the stage and opened for some of the biggest names in the entertainment industry, the likes of Lil Wayne, Pitbull, Rae Sremmurd and Nigerian singer, songwriter and producer, Burna Boy.



Paul has also demonstrated her skills in campaigns for Halls, Shield, vivo and L’Oreal, and graced platforms like the BBC, CNN, Olympics.com and France24.



Throughout her career, Paul has remained steadfast in her mission to make the world a better place, whilst showing the world what Africa has to offer. She embodies love, patience, and empathy, always striving to create opportunities for her community.



Her journey is a testament to the power of staying true to oneself and the impact one can have when driven by passion and purpose.



Courtnaé Paul&#8217;s story is one of triumph over adversity, a celebration of individuality, and a powerful reminder that true success comes from embracing who you are and using your talents to uplift others.

COURTNAÉ PAUL

The Business Of Dance: Embracing One’s Individuality And Style

From growth and transformation to economic inclusion, these leaders from within the Property Point team are doing their part to champion change.



Bringing out the best in entrepreneurs



Carmine Fritz, the Senior Program Manager at Property Point, the leading small business accelerator program in South Africa, says leadership is being true to who you are and mentoring others in a way that leaves a lasting impact.



“It’s about creating an environment that encourages and fosters great ideas, bringing out the best in people without them even realizing it,” she adds.



Fritz has earned the reputation of being a problem solver. Over her two-year tenure, she has tackled some of the most challenging programs, transforming them into success stories.



One of her most notable achievements is transforming a challenging cohort of small and medium business enterprises known for their disruptive methods.



“I quickly realized that to help this group grow and transform, I had to unlearn my preconceptions and see them through a lens that believed in their entrepreneurial capabilities,” she recounts.



Fritz’s strategy involved extensive personal development for the business founders and rigorous business development milestones. The results were nothing short of transformative.



“The entrepreneurs started with no clear business strategy other than demanding 30% of community projects. Now, they are securing new clients and leading major construction projects as main contractors, with contracts ranging from ZAR4 million to ZAR6 million,” she says.



Championing research for developmental impact



“Leadership is such a crucial part of our everyday lives. It’s a combination of being born with the skill and nurturing the responsibility that comes with it,” says Maphefo Sipula, Head of Research and Impact at Property Point.



Sipula’s journey is deeply influenced by her socially-entrepreneurial parents – her father, a medical doctor and her social worker mother – who instilled in her the values of education, hard work, and dedication.



After joining Property Point in 2018 as a Monitoring, Evaluation, and Reporting (MER) Analyst, Sipula became Head of Research and Impact, overseeing research and MER functions and leading an all-women team of economists and MER analysts.



“Through our research, we can continuously shape our understanding of entrepreneurs&#8217; challenges and identify the most effective solutions through a practitioner-driven approach,” she says.



This is evident in the group’s women-only intake program, She Builds, and the recently launched sustainability specialization program, Greenpreneur. Both programs aim to increase the number of underrepresented groups in their respective sectors.



Despite the challenges of women’s representation in the property industry, Sipula is optimistic about the future.



“It’s exciting to see female entrepreneurs breaking barriers, building sustainable businesses, and driving innovation,” she says. “Although we still have a long way to go, our progress is encouraging.”



Driving economic inclusion through local engagement



As an expert in fostering economic inclusion in previously-disadvantaged communities, Ntsako Ngomane’s strategic approach to addressing inequality has proven pivotal in breaking down barriers and creating sustainable growth.



Ngomane, the Head of Local Economic Development (LED) and Stakeholder Management at Property Point, takes a pragmatic and visionary approach.



“The construction sector is close-knit and fragmented, with contractors preferring to work with subcontractors they trust. This has, unfortunately, led to the exclusion of many SMMEs from previously disadvantaged backgrounds,” she explains.



“By positioning Property Point as a catalyst with the skillset to manage LED expectations, we have successfully integrated economic inclusion into development projects, transforming potential societal risks into strategic community relationships.”



Ngomane’s impact extends beyond the confines of individual projects. Her work reshapes how the construction sector views economic inclusion and stakeholder engagement. By highlighting the strategic benefits of proactive LED implementation, she challenges traditional perceptions and paves the way for a more inclusive industry.



“We aim to show that economic inclusion is not just about mitigating risk but about building strategic relationships in the communities where projects are located,” she emphasizes.

Maphefo Sipula is the Head of Research and Impact at Property Point

The Women On A Mission To Empower The Next Generation Of Leader

Across Africa, a revolution is brewing, one of empowerment, driven by a simple transformative force: financial inclusion. By ensuring that more Africans have access to essential financial services, I believe we can not only accelerate economic growth, but also begin to solve some of the continent’s most pressing issues.&nbsp;



Africa has always been a continent of immense potential, with abundant resources, a young and growing population, and a vibrant entrepreneurial spirit. But financial inclusion has been a key missing piece, with only 43% of sub-Saharan Africa’s population having a traditional bank account, according to the International Monetary Fund (IMF).&nbsp;&nbsp;



Traditional banking systems, often reliant on brick-and-mortar access, have failed to reach vast swathes of the population. This has left millions trapped in a cycle of poverty – unable&nbsp; to save for emergencies, invest in businesses, or weather financial shocks.&nbsp;



The tide is turning, however, thanks to the rise of mobile money and other digital financial technologies, as well as the use of alternative data for credit scoring. These tools are by-passing traditional limitations, reaching even the most remote corners of the continent.&nbsp;



For TransUnion, financial inclusion is about so much more than giving consumers access to financial products and services. It’s about giving them access to hope, to a better life for their families. It’s about giving small businesses the chance they need to scale, to create new jobs, to contribute to economic growth. It’s about solving problems that matter.&nbsp;



Of course, the journey is not without challenges: infrastructure gaps, regulatory hurdles and digital illiteracy all need to be addressed. But we cannot deny the potential benefits.&nbsp;



The role of our youth cannot be underestimated, given that the reported average population age across Africa’s 54 countries is 18.8 years. Given this breathtaking statistic, we must focus on providing key services such as education, family planning and healthcare, and combine that with employment opportunities. If we do that, the IMF predicts that Africa’s demographic dividend will lead to quickly expanding economic growth – as much as 1.5% per year.&nbsp;



In addition, Africa’s young population represents a significant part of the future global consumer market. The span of the demand globally and across the continent will lead to greater integration and collaboration across the continent, and greater regional demand of services and products.&nbsp;



Finally, Africa’s youth are key to driving innovation and challenging existing business models and will create up to 80% of employment across the continent – we need to tap into&nbsp;



that significant potential for the continent’s future prosperity.&nbsp;



Alternative data a key ingredient to greater financial inclusion&nbsp;&nbsp;



In a very competitive global market, businesses, both large and small, will need to use technologies and alternate data-sets to understand and grow their customer base and those customers’ loyalty.&nbsp;



These datasets are also vital for financial institutions. Credit scoring, for instance, is more challenging in cash-dependent markets – we need to be able to assess the individual and their business potential where applicable, and we can do that by integrating alternative data from mobile money and other non-traditional data sources. For example, through TransUnion Africa’s strategic partnership with Chenosis, alternative telcos data can now be included in credit scores, expanding access to financial services for Rwandan and Zambian consumers.&nbsp;



Alternative data makes those who were once credit-invisible visible – and thus scorable. Telcos data can bridge the information gap between traditional credit information and the data generated by consumers and entrepreneurs when they use their mobile phone. This gives lenders a record of their ability to make regular or semi-regular payments and can help&nbsp;



demonstrate the ability to afford monthly credit repayments.&nbsp;



Collaboration is the name of the game – if governments, financial institutions, fintech companies and civil society work together, we can overcome these challenges, unlock the power of financial inclusion and usher in a new era of prosperity and progress for Africa for generations to come.&nbsp;

Lee-Naik,-CEO-of-TransUnion-Africa

Financial Inclusion: The Key To Accelerating Africa’s Growth

Africa is the world’s second most populated continent, accounting for just under 18% of the global population. Despite this, the continent is accountable for at least 25% of the world’s disease burden.&nbsp;&nbsp;



With more than its fair share of diseases, the World Economic Forum estimates that the total demand for packaged medicines in Africa is around $18 billion per year. Interestingly, 61% of that is serviced through imported products, with only 36% being locally produced.&nbsp;



For Africa to effectively service the medical requirements of its 1.4 billion people, countries on the continent acknowledge the need to enhance their pharmaceutical and medical production capabilities.&nbsp;&nbsp;



In recognition of this, the OR Tambo International Airport Special Economic Zone (SEZ) has designed, and is in the process of developing, a globally competitive medical manufacturing cluster that will enhance the production and export of medical products from South Africa.&nbsp;&nbsp;



OR Tambo SEZ’s Bold Ambitions&nbsp;&nbsp;



Comprised of 265,000m² of developable space, the OR Tambo SEZ Precinct 2 development is well-positioned to support the production and export of time-sensitive products such as medicines.&nbsp;&nbsp;



Located on the doorstep of OR Tambo International, the SEZ is an ideal location for the production and export of high-value, light-weight products that utilize air freight as a mode of transport.&nbsp;&nbsp;



In support of its competitive value proposition, the OR Tambo SEZ completed industry-specific research that identified different elements essential for the establishment of a globally competitive medical manufacturing cluster. The result of this research is a bold plan that aims to secure continental as well as international buy-in, thereby ensuring that the cluster is well-positioned to support the manufacturing of different elements that form part of the broader pharmaceutical and medical product value chain in Africa.&nbsp;&nbsp;



The Competitization of the OR Tambo SEZ Pharma and Medical Cluster&nbsp;&nbsp;



The cluster-based approach is globally acknowledged as an effective approach to enhance economic growth and development.&nbsp;&nbsp;



For it to be competitive, any cluster must pursue and ensure the existence of linkages between different elements that form part of the production process; these include basic inputs, manufacturers, role players that approve the products for consumption and those that move the goods to market. Equally important are the research, development and innovation institutions. The OR Tambo SEZ’s planned pharma and medical manufacturing precinct will have all the above inclusive of a variety of medical production processes such as pharmaceutical mixing, medical device component manufacturing, sub-assembling, labelling and packaging, warehousing and storage, training, standard testing, patent compliance and regulatory approval institutions.&nbsp;&nbsp;



Through this approach, the SEZ, which already boasts of a competitive location, is destined to become a world class pharma and medical products manufacturing destination.&nbsp;&nbsp;



Available Incentives&nbsp;&nbsp;



As a designated Special Economic Zone, the OR Tambo SEZ will also provide manufacturers that are looking to set up operations with the opportunity to access incentives that reduce the cost of production; this is particularly key, given that manufacturing costs remain a major impediment in the enhancement of manufacturing in Africa.&nbsp;&nbsp;



Available incentives include duty-free importation of production-related materials and assets as well as VAT exemption on exports.&nbsp;&nbsp;



OR Tambo SEZ: The Competitive Choice&nbsp;&nbsp;



Underpinned by factors such as a skilled labor force, South Africa has long been a location of choice for multinationals looking at Africa. The country also has an established supply chain to foster the medical manufacturing expansion.&nbsp;&nbsp;



All the above, coupled with Gauteng City-Region’s competitive positioning serving as a gateway to sub-Saharan Africa, make the OR Tambo SEZ an ideal location for the production, export and trade of pharmaceutical and medical products within Africa.&nbsp;&nbsp;



FOR MORE INFORMATION ON THE PHARMACEUTICAL AND MEDICAL CLUSTER BEING DEVELOPED AT OR TAMBO INTERNATIONAL AIRPORT SEZ, VISIT: WWW.ORTAMBOSEZ.CO.ZA&nbsp;

Work in progress at a pharmaceutical facility (1)

Establishing A Globally Competitive Pharma and Medical Manufacturing Cluster 

Top female leaders in finance share their thoughts on the moving goalposts of a ‘work-life balance’.


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With the hybrid working model catapulting to popularity after Covid-19, the notion of work-life balance, and pressure to achieve it, has increasingly become synonymous with success for many women, globally. Yet, women continue to take on the majority of caregiving and domestic tasks – placing further hurdles in the way of achieving the elusive work-life balance equilibrium.



According to <a href="https://www.deloitte.com/content/dam/assets-shared/docs/collections/2024/deloitte-women-at-work-2024-a-global-outlook.pdf?dl=1">Deloitte’s Women @ Work 2024: A Global Outlook annual report</a>, women are experiencing the mounting pressures of ‘misbalanced caregiving and domestic responsibilities’, with 50% of women globally who live with a partner and have children saying they take the most responsibility for childcare. This is up from 46% in 2023, with only 12% saying this falls to their partner.



In addition to this, 57% of women are also taking the greatest responsibility for caring for another adult, while only 6% report this being done by a partner. Interestingly, the imbalance exists even for women who are the primary earners in the household.



These pressures, in addition to career responsibilities and aspirations, make achieving the mirage of “work-life” balance a seemingly unachievable task. CEO of PSG Asset Management, Anet Ahern believes that society must move away from women having to do the heavy lifting to find ‘balance’.



“It is not a female problem. I think the idyllic balanced life is a fantasy for the most part, but there are things you can do to manage your energy, which is more important than managing your time,” she says.



For Ahern, managing one’s energy removes the excessive pressure to achieve the rigid, unrealistic goal of balance in all spheres of one’s life. Instead, it provides the fluidity to adapt to life’s ever-changing seasons where the goal posts are always moving and the priorities shifting.



Instead, Ahern suggests focusing on three pillars – simplicity, efficiency and presence. These can then be applied to make room for whichever season is taking priority at the time.



“Simplifying your life is the first step, otherwise complexity and decision fatigue will overwhelm you. Especially important is simplifying your finances and admin – use a financial adviser to take some of these worries off your mind,” says Ahern.



Next, she believes that efficiency and organization are key.



“Building a support system will help you to be more efficient in your day. Pay for services when you need to, and can afford it, and negotiate a fair split with your partner on the rest,” she says.



Ahern adds that being organized is a large part of setting yourself up for success.&nbsp;



Lastly, she emphasizes the importance of being present wherever you are. According to the same Deloitte study, less than two in five women say they feel able to switch off from their work, and nearly one in five regularly work more than their contracted hours every week.



“If you are at work, focus and be effective &#8211; be ‘at’ work.&nbsp; At home, try your best to leave after-hours work for later when you have spent quality time with your loved ones, not when you are having dinner with your family.’’



For Wendy Myers, Head of Securities at PSG Wealth, the most effective strategy to achieve a sense of equilibrium in the spheres of her life, is to harness the collective when embarking on an initiative.



“I purposefully leverage talent in the organization to get the job done. So much can be achieved with an inspired, directed team as opposed to one person ‘fighting the good fight’ on their own,” says Myers.



A critical part of this, however, is effective management as a high functioning team creates efficiencies and opens space for personal time.



“Ineffective managers have ineffective teams,” says Myers. “Make sure you harness your teams to work together and put the right managers and staff in the right roles. This professional support structure is the key to securing time for yourself and your family.” &nbsp;



Myers also highlights the need for support structures to extend upwards to leadership and employment policies.



“Women are most vulnerable in scenarios where there is no support structure. This is why leaders need to be understanding and empathetic &#8211; offering flexible working hours and working from home within reason,” she says.



This means that women want flexibility in how their hours are structured. The latest Working Women report from top recruiter, <a href="https://www.iol.co.za/business/jobs/almost-half-of-south-africas-female-workforce-is-unsatisfied-with-their-current-positions-study-finds-04b45bc0-6dda-42b5-96ad-31a51b2c7e11">RecruitMyMom,</a> found that 55% of South African women respondents, regardless of age, choose to work full-time hours, showing the appetite for career trajectory and financial independence.



Of those who wanted to work full-time, 32% wanted a full week, while 23% wanted full-time with a shorter week, and the rest chose fewer workdays and hours.



“Women who operate in a supportive working environment tend to be more loyal to the organization and are prepared to go the extra mile,” says Myers.



She explains that given these flexible parameters, she has embraced the rigorous demands and high pressure of the industry as she believes this is what drives the industry forward.



Karen Rimmer, Head of Distribution at PSG Insure agrees that the notion of work-life balance is not black and white.



“Everything in life has a price tag – success too. You determine what you are willing to pay for and where your limits are,” she says.



For Rimmer, mentorship is an extremely useful tool to help with methods and strategies for balance – especially since the guidance is extremely personal.



“For your survival, you need a safe space – away from work and home; a place where you can vent, but also receive objective feedback. I got that through formal coaching and a few trusted colleagues who made the time to listen, empathize and help me to re-balance and face another day. Industry networks are important to do more than you would have been able to do on your own,” she explains.



Unfortunately, mentors are few and far between – especially in a male-dominated sector like financial services. According to global leadership consultancy<a href="https://www.ddiworld.com/blog/women-leadership-statistics#:~:text=On%20average%2C%20only%2024%25%20of,compared%20to%2038%25%20of%20men."> DDI</a>, only 27% of women in senior leadership roles have had a formal mentor, compared to 38% of men.



Rimmer proactively started a female empowerment group with six junior females at PSG 10 years ago.



“We meet monthly and have healthy debates on topical issues, but only after having an informal catch-up on our personal and professional lives,” she explains. &nbsp;



Rimmer says that her engagement with other female colleagues demonstrates that ideas of success and balance differ and there is not a one size fits all.



“If you have a family that includes a partner and children, your priorities must be a family decision. Your employer will expect you to do the maximum and you need to determine the boundaries. There will be exceptions and then you need to manage expectations – both that of your family and employer. This is not always an easy choice, but it is possible,” she concludes.

Forbes – headline image

Unpacking The Work-Life Balance Conundrum

A leader in South Africa&#8217;s telecommunications sector, Telkom has redefined the role of mobile telecommunication companies by driving economic growth and community empowerment in the country. 



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“Our focus has always been to deliver the best value to our customers through various innovations.” 
</blockquote>



The growth of telecommunications has revamped how we interact on the continent, and this ease of communication is an aspect of the industry that Gugu Mthembu, Telkom’s Chief Marketing Officer, appreciates.&nbsp;



The volume of data circulating correlates with the growth of the telecommunications industry. Telecoms has cemented itself as one of the main pillars of South Africa’s economy and, along with pay-TV service revenue, generated $9.4 billion in 2023, as stated by Global Data.&nbsp;



Introduced to the mobile telecommunications industry through her interest in information technology and problem-solving, Mthembu quickly developed a passion for marketing, viewing it as a pivotal aspect of a company’s success.&nbsp;



With over a decade of experience in marketing leadership, primarily within the telecommunications sector, Mthembu has identified marketing as a strategic function to deliver value to customers, the business, and shareholders.&nbsp;



She’s found that Telkom provides an ideal environment for her to effectively execute these strategies.&nbsp;



The power of connectivity&nbsp;



In a saturated and price-sensitive market, it becomes a company’s top priority to both build and maintain a resilient brand that will not only contribute to the telecommunications market but also lead it.&nbsp;



“Competitiveness for Telkom is driven by the well-differentiated and disruptive products we have launched in the market,” explains Mthembu.&nbsp;



“Our focus has always been to deliver the best value to our customers through various innovations.”&nbsp;



With this, Telkom&#8217;s main investments include fibre optic networks, mobile networks, data centers and technological advancements, to ensure reliable and high-speed connectivity.&nbsp;



In addition to its innovative prowess is the brand’s strong adaptiveness, particuarly with market changes and customer preferences, which Mthembu identifies as one of the traits needed to build a sustainable and resilient business.&nbsp;



That said, there’s another aspect that sets Telkom apart from its competitors.&nbsp;



“Establishing a strong brand purpose that resonates with customers and maintaining a positive reputation is vital,” she says.&nbsp;



For instance, the consumer brand’s latest campaign slogan, “Possible begins here”, speaks to the company’s values of driving transformation to unlock progress in the lives of its customers.&nbsp;



“Our new brand expression is a representation of how the power of being connected through Telkom helps consumers push the boundaries and move beyond good, to great,” comments Mthembu.&nbsp;



Consistently on call&nbsp;



For many mobile network companies, their innovations often involve advancements in technology generation, such as the introduction of 5G. Telkom has gone beyond that by using its innovative competence to improve customer satisfaction.&nbsp;



“By addressing changing consumer behaviors, we ensure continued relevance and enhance customer satisfaction and loyalty,” says Mthembu.&nbsp;



For instance, Telkom’s investment and continuous improvement of its marketing technology (MarTech) suite has led to an improvement in responsiveness.&nbsp;



Mthembu adds that the brand’s quest to improve its customer relations now also includes in-store experiences, thanks to the introduction of the ‘Store of the Future’.&nbsp;



“It has revolutionized the retail landscape, offering our customers a unique, unforgettable and immersive experience that combines cutting-edge technology with unparalleled convenience and entertainment.”&nbsp;



Telkom also works to enhance entertainment options for customers, offering access to streaming platforms and online gaming.&nbsp;



“We partner with various organizations, such as Amazon, to give our customers more value so they can benefit from being connected,” she says.&nbsp;



“We also understand the ability of gaming to develop cognitive, critical thinking and problem-solving skills, and its contribution to relaxation and leisure, hence our continuous&nbsp;



investment in the Telkom vs Gaming platform.”&nbsp;



Beyond communication&nbsp;



Despite being a telecommunications company, Telkom does more than improve communication lines.&nbsp;



The company also leverages connectivity to significantly enhance customer experiences and improve their quality of life.&nbsp;



As we know, information is the biggest commodity that we possess and access to it can improve our lives.&nbsp;



With that understanding, Telkom allows customers to access a wealth of information and online services, which includes the TelkomLearn platform – an educational resource where Telkom accelerates digital inclusion and improves access to quality education.&nbsp;



“One of the few initiatives we have embarked on that brings collaborative partnerships to life for the broader benefit of society, is the Innovation Labs we have with higher education institutions in South Africa,” explains Mthembu, who adds that innovation that benefits business and society is crucial.&nbsp;



The company understands the role that small businesses play in growing the economy, which is why they work to facilitate smooth operations, collaboration among teams, and customer interactions.&nbsp;



“We also enable businesses to leverage the power of online presence through digital marketing solutions and our Yep! Digital marketplace” says Mthembu, who describes Yep! As a thriving small business fraternity that contributes to economic growth and job creation, benefiting communities and the society at large.&nbsp;



Furthermore, according to Mthembu, the Telkom Future-makers program, which has benefited 2,500 SMEs to date, ensures that SMEs operating in the technology field are able to participate in the economy through skills development, mentorship, funding, and access to markets.&nbsp;



Technology, gender equality and the power of sport&nbsp;



With a background in the South African information and communications technology (ICT) sector, Mthembu is well aware of the gender equality imbalance that exists within the industry.&nbsp;



Coupled with the lack of investment identified in female sports, Telkom has chosen to address both of these important issues.&nbsp;



“Unless brands and investors boldly involve themselves in initiatives that redress these imbalances, nothing will change,” states Mthembu.&nbsp;



Shedding light on the brand’s corporate social responsibility (CSR) goals, Mthembu explains that the purpose is to contribute to the transformation of disenfranchised communities through meaningful and sustainable development programs, one of which is focused on netball.&nbsp;



“We believe that we need to throw our weight behind this sport which gives young girls and women the possibility of a career in sports, and at a global scale,” says Mthembu.&nbsp;



Telkom also sponsors the Wired4Women Awards, an act that reflects the company&#8217;s commitment to diversity in the technology sector.&nbsp;



“By supporting these awards, we aim to champion female excellence and promote gender diversity, ensuring that women’s contributions are celebrated and acknowledged,” explains Mthembu, who views the awards as a holistic approach to ensuring a sustainable pipeline for women in technology fields and a platform to provide role models for future generations.&nbsp;



With their commitment to innovation, customer satisfaction, and societal improvement, Telkom has set a new standard for telecommunications and paved the way for a more connected and empowered future.&nbsp;



As the world continues to find new ways to communicate, Telkom is working to ensure that no words are left unsaid and that no one is left behind.&nbsp;

Chief Marketing Officer at Telkom, Gugu Mthembu

The Journey From Customer Connectivity to Consumer Empowerment

Glory Art First, under the direction of Serge Hié, is dedicated to the preservation and promotion of classical African art. By creating cultural bridges between Africa and the West, the brand highlights the richness and diversity of this unique heritage. 


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Glory Art First’s mission is to promote and preserve African primitive art, creating a strong link between African and Western cultures. Founded by Serge Hié, a passionate collector and businessman from Côte d&#8217;Ivoire, Glory Art First is distinguished by its commitment to making African primitive art accessible, while respecting and honoring the cultural traditions from which it originates.&nbsp;&nbsp;



Hié, a former soldier in the French army, inherited a passion for primitive art from his family.&nbsp;



His collection, developed over more than 20 years, is much more than a collection of rare pieces: it embodies a mission of transmission, education and awareness of the importance of this cultural heritage.&nbsp;



VALUES AND COMMITMENTS&nbsp;



Authenticity and cultural respect&nbsp;



Glory Art First strives to present primitive art in its most authentic form, respecting the cultures and traditions from which the works originate. Each piece in its collection is a window to the soul of a civilization.&nbsp;



Innovation and preservation&nbsp;



Glory Art First uses innovative approaches to enhance and preserve primitive art. It collaborates with experts and institutions to ensure the longevity of this unique heritage.&nbsp;



Education and awareness&nbsp;



The brand firmly believes that education is essential to the preservation of our cultural heritage. It has set up educational programs to raise awareness among younger generations of the richness of African primitive art.&nbsp;


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<figure class="alignleft size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="768" src="https://cms.forbesafrica.com/wp-content/uploads/2024/08/Statue-Fétiche-Kongo-RDC-Collection-Hie-©-Valentin-Clavairolles-2-1024x768.jpg" alt="" class="wp-image-62742" style="width:457px;height:auto" srcset="https://cms.forbesafrica.com/wp-content/uploads/2024/08/Statue-Fétiche-Kongo-RDC-Collection-Hie-©-Valentin-Clavairolles-2-1024x768.jpg 1024w, https://cms.forbesafrica.com/wp-content/uploads/2024/08/Statue-Fétiche-Kongo-RDC-Collection-Hie-©-Valentin-Clavairolles-2-300x225.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2024/08/Statue-Fétiche-Kongo-RDC-Collection-Hie-©-Valentin-Clavairolles-2-768x576.jpg 768w, https://cms.forbesafrica.com/wp-content/uploads/2024/08/Statue-Fétiche-Kongo-RDC-Collection-Hie-©-Valentin-Clavairolles-2-1536x1152.jpg 1536w, https://cms.forbesafrica.com/wp-content/uploads/2024/08/Statue-Fétiche-Kongo-RDC-Collection-Hie-©-Valentin-Clavairolles-2-2048x1537.jpg 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Statue Fétiche Kongo (RDC), Collection Hie © Valentin Clavairolles </figcaption></figure></div>


International collaboration&nbsp;



To strengthen cultural ties and ensure a better global understanding of African art, Glory Art First has also established partnerships with museums, universities and cultural institutions around the world. 



KEY INITIATIVES&nbsp;



Provenance and indemnity work&nbsp;



Glory Art First is exploring different approaches and regulations concerning compensation for the countries the works of art have originated from. Its aim is to establish fair standards to ensure that the communities and cultures from which these pieces originate are properly recognized and compensated.&nbsp;



Reflection on the decree of October 20, 2021&nbsp;



Glory Art First is conducting a thorough review of the decree of October 20, 2021, which sets out the terms and conditions for the application of droit de suite. This decree is crucial for artists and their heirs, and they are striving to maximize its positive impact on the protection of the rights of African artists.&nbsp;



Social commitment&nbsp;



The brand actively supports humanitarian initiatives, notably Madame Dominique Ouattara&#8217;s Children of Africa Foundation. At the foundation&#8217;s Charity Gala Dinner, one of the pieces from the Hié Collection was auctioned off and sold for over 140,000 euros, contributing directly to projects for the disadvantaged children of Côte d&#8217;Ivoire. 



A visionary who inspires&nbsp;



Serge Hié, the founding member of Résidence Abidjan and founding president of Glory Art First, is determined to give voice to the true and authentic interpretation of African primitive art. His network and expertise are put to good use in promoting the ancient arts of Africa, making his pieces accessible to the public through worldwide exhibitions. By combining tradition and modernity, Glory Art First has positioned itself as a key player in the preservation and promotion of African primitive art, building a cultural bridge between Africa and the West.&nbsp;



PRESS CONTACTS: CLAUDIA@GLORYARTFIRST.COM | WWW.GLORYARTFIRST.COM | @GLORYARTFIRST

Serge Hié, Président Glory Art First, Paysage ©Nader Fahkry 1

Redefining The Heritage of Classical African Art

McDonald’s South Africa demonstrated a special “Together Mzansi” community initiative that underscores its commitment to giving back and making a positive impact. 


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<figure class="aligncenter size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="206" src="https://cms.forbesafrica.com/wp-content/uploads/2024/08/Together-Mzansi-Logo-Mwith-Box-2-1024x206.png" alt="" class="wp-image-62714" style="width:638px;height:auto" srcset="https://cms.forbesafrica.com/wp-content/uploads/2024/08/Together-Mzansi-Logo-Mwith-Box-2-1024x206.png 1024w, https://cms.forbesafrica.com/wp-content/uploads/2024/08/Together-Mzansi-Logo-Mwith-Box-2-300x60.png 300w, https://cms.forbesafrica.com/wp-content/uploads/2024/08/Together-Mzansi-Logo-Mwith-Box-2-768x155.png 768w, https://cms.forbesafrica.com/wp-content/uploads/2024/08/Together-Mzansi-Logo-Mwith-Box-2-1536x309.png 1536w, https://cms.forbesafrica.com/wp-content/uploads/2024/08/Together-Mzansi-Logo-Mwith-Box-2.png 1764w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure></div>


The McDonald’s team visited the Andries Meyer Old Age Home in Eldorado Park in Soweto, South Africa, to provide free haircuts to the residents as part of the “Mobile Barber” service. This initiative reflects the company’s belief in supporting and empowering local communities through meaningful and impactful actions.&nbsp;



“At McDonald&#8217;s South Africa, we are dedicated to supporting and empowering our communities through initiatives focused on literacy, education, sustainability and social impact,” says Sechaba Motsieloa Marketing Director, McDonald’s South Africa.&nbsp;



“Providing free haircuts, through our Mobile Barber initiatives, to the residents of Andries Meyer Old Age Home is a way for us to show respect, dignity, and care to those who are often overlooked. This is one way where we acknowledge that there is no us without you.”&nbsp;



McDonald’s South Africa is committed to creating positive social impact and enriching the lives of the communities it serves. Through various initiatives, it strives to support literacy, education, sustainability, and social well-being. Their mission goes beyond serving delicious food; they aim to make meaningful contributions that empower and uplift individuals across the nation.&nbsp;



The Mobile Barber forms part of McDonald’s nation-building initiative, Together Mzansi, which is a call to action for communities to come together in finding solutions to the challenges we face in society.&nbsp;



Together Mzansi is the unique result of using its influence and reach to partner with McDonald’s customers, company staff, franchisees, suppliers and other stakeholders to drive impact by coming together with communities to foster positive change, one initiative at a time.&nbsp;



Drawing inspiration from 28 years of changing lives through various charitable initiatives in the country, Together Mzansi is a collective effort of all levels of society, to make a positive difference to the lives of people and communities.&nbsp;



Founded by Elizabeth Harriesunker, the Mobile Barber team uses their hair-cutting and barber skills in the best way, offering free haircuts to people in orphanages, disability homes, old age homes, skill centers, and schools.&nbsp;



“The concept of Mobile Barber Co was born in 2019. It was inspired from the love for people, creating connections and value in society,” she says.&nbsp;



With her two vans, she services around 90 organizations and travels around Joburg and Pretoria on amonthly basis.&nbsp;



“We go to places like Soshanguve and Mamelodi and we service the areas there,” she says.&nbsp;



Running the Mobile Barber has not always been easy for Harriesunker. Choosing the right vehicle is of the utmost importance because not any ordinary vehicle will do. It has to have a high roof because barbers need to be comfortable in there and people need to walk in, so they can also stand in there.&nbsp;



The right furniture and equipment is equally important so that the vehicle would work for the intended function.&nbsp;



&nbsp;“The partnership with McDonald’s SA is a synergy that is truly a blessing. It results in bringing a unique contribution to communities which is dearly heartfelt,” says Harriesunker.&nbsp;



“The project brings everyone involved immense joy, especially when seeing the happiness on our clients’ faces. Who doesn’t love the feeling of having their hair done? For many, this is a luxury that is now looked forward to on a regular basis. The mobile barber team are changing lives, one haircut at a time and we are loving it.”&nbsp;

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“Together Mzansi” Mobile Barber – A Community Initiative In Action

Meaza Ashenafi is the Founding Board Chair of Enat Bank, Ethiopia’s first women-focused bank, and the former Chief Justice of Ethiopia&#8217;s Supreme Court. A lawyer by training, she is no stranger to breaking barriers.  Her pioneering efforts have been instrumental in providing women with financial access and opportunities, and amplifying the contributions of women to society.



Q. As a prominent advocate for gender equality and women’s rights in Ethiopia, how do you think African countries can increase women’s access to finance and ensure their economies work for women?&nbsp;



A. Given the enterprising spirit of African women and the challenge they face in accessing finance, national governments and policymakers must design and implement inclusive policies that make structural and sustained changes to ensure women’s meaningful participation in the economy. While African governments have taken some measures to address financial inclusion for women and other underserved communities, the existing gap demands greater effort.



Innovative financial institutions, like the one we established in Ethiopia,<a href="https://www.enatbanksc.com/"> Enat Bank</a>, can inspire mainstream financial institutions to meet the unmet financial needs of women. Banks established to cater to the needs of women are rare, not just in Africa, but globally. However, following inclusive government policy directives or under the guidance of visionary leaders, mainstream banks can become powerful vehicles for women’s economic empowerment. The Ugandan Development Bank is reported to be one such example.



Q. As a legal expert, can you share examples of how you’ve leveraged the law to advance financial opportunities for women in Ethiopia? Are there any existing legal barriers that prevent women from participating in and influencing the economy?



A. The law serves as a vital tool for promoting the economic, social, and political rights of women. I have been fortunate to work towards women’s rights and gender equality from various perspectives.



The 1994 Ethiopian Constitution includes affirmative action in both public and private sectors to rectify past and present injustices. Such legal guarantees have enabled advocacy groups like the Ethiopian Women Lawyers Association (EWLA) to demand law enforcement through advocacy and litigation.



Recognizing the challenges in fully realizing women’s rights, we initiated the establishment of financial institutions to support and facilitate women’s economic power. This proved to be an exemplary model for harnessing women’s potential incrementally. Yet, despite legal reforms, discriminatory laws in many African countries still affect women’s economic rights. Affirmative action is needed for equality.



Q. What are some of the biggest challenges you have encountered in promoting access to finance and women’s financial inclusion? How have you addressed these obstacles?



A. Together with businesswomen and professionals, we founded a bank for women’s financial needs. Initially, our vision, to go beyond microfinance and focus on universal service with an emphasis on women, was challenging to articulate. Over time, our proposition gained momentum and our vision was realized.



We succeeded in establishing a bank that has opened 200 branches across the country over a decade. As the first female Board Chair of a commercial bank with mostly female shareholders, board members, and staff, I inspired other banks to recognize women’s market potential and launch targeted products. Our bank’s women’s financial solutions department innovatively provides both financial and non-financial services to more women. Despite challenges, we strive to maintain profitability and satisfy the growing number of women needing loans.



Q. Women business owners in sub-Saharan Africa receive only 15% of loans issued to small and medium-sized businesses. What advice would you give policymakers and young women entrepreneurs to address this gap?



A. The gender gap data is alarming across legal equality, access to finance, and other social and economic areas. However, we should also recognize progress in girls’ education, women’s employment, and their political representation.



Unfortunately, during conflict and political instability, these gains can be quickly eroded. Women lose their livelihoods, are subjected to sexual violence, and become exposed to harmful traditional practices once again. It’s disheartening that the financial gap facing African women is estimated at US$42 billion and that women receive only 15% of available loans, considering that a quarter of African women are engaged in some form of business activity.



Bold and consistent action is required to address this gap. Women’s economic justice is a key element and driver of the Sustainable Development Goals. My advice to businesswomen is to champion their interests, be confident, know their rights, believe in their success, and share their unique stories.



Q. What has motivated your work and engagement around women’s access to finance and what do you see as the most critical steps needed to further enhance women&#8217;s economic power in Ethiopia and across Africa?&nbsp;



A. My work as an activist, an international civil servant, the founder of a women-focused financial institution, and the first female Chief Justice, is consistently driven by the promotion of the rule of law, equality, and human rights.



My journey has taught me that women’s activism is crucial to initiating and catalyzing legal and policy reform. We must occupy leadership positions and be in the decision-making rooms to achieve what we want, and once we’re there, we must deliver for women. Building institutions, especially innovative startups by women, should be supported through finance and training. Those with resources should invest in this area to reap the rewards with a multiplier effect on families and communities.



African governments and national and international financial institutions can go beyond token policy or resource allocation gestures. National and international entities for women’s empowerment need to be more visible, forceful and inspiring.



About This Series



This article is part of a five-part series celebrating&nbsp;trailblazing&nbsp;African women who are&nbsp;strengthening the economic power&nbsp;of women across the continent.&nbsp;At the root of&nbsp;this&nbsp;power lies the&nbsp;need to build&nbsp;inclusive&nbsp;systems designed to benefit all. This means moving beyond&nbsp;just providing&nbsp;financial resources to women,&nbsp;and building the systems that empower women with the financial literacy and&nbsp;autonomy&nbsp;they need to&nbsp;make their own&nbsp;financial&nbsp;decisions.



This series will feature African women who are leading the charge in core areas of development,&nbsp;including financial inclusion, digital public infrastructure, women’s health,&nbsp;care&nbsp;and agriculture development,&nbsp;all of which are essential&nbsp;to advancing&nbsp;women’s economic power in Africa.

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The Keys To Promoting Economic Empowerment For Women

Federal Express Corporation (FedEx), the world’s largest express transportation company, has celebrated a decade of driving growth and social impact in Africa.



Since entering the African market, FedEx has strategically expanded its footprint through acquisitions. The 2014 acquisition of SupaSwift and the subsequent acquisition of TNT in 2016 solidified FedEx’s position as one of Africa&#8217;s leading domestic and international transportation solutions providers.



FedEx has always been conscious of its global operations’ social and environmental impact, aiming to deliver responsibly and resourcefully for the communities it serves worldwide. To mark ten years of operations, Taarek Hinedi, Vice-President of FedEx Middle East and Africa Operations, shares more about the FedEx commitment to Environmental, Social, and Governance (ESG) principles, their evolving impact on the African continent, and the progress made in sub-Saharan Africa.



Q. Can you share some key FedEx sustainability goals for the coming years?



A. We are focused on optimizing our network to meet the evolving needs of customers and ultimately build a more intelligent enterprise that can deliver a sustainable future and smarter supply chains for all. By investing in the efficiency and resiliency of our network, we can work to reduce our environmental footprint, while growing responsibly and creating a simplified experience for our customers.



Our enterprise-wide sustainability goal is to achieve carbon-neutral global operations by 2040, guided by strategic principles that cover the comprehensive actions needed to not only achieve carbon neutrality, but also to support the transition of the transportation and logistics industry. To decarbonize in our own operations, we have interim goals for pickup and delivery electric vehicle purchases and sustainable fuel procurement to reduce our environmental impact.



Q. How does FedEx balance business objectives with its commitment to environmental stewardship?



A. Our philosophy of practical sustainability drives us toward responsible business stewardship while innovative solutions improve efficiency. We take great care to match the right technology with the right operating environment, knowing that any technology in our network must be reliable and help us deliver the superior service that our customers expect.



But, contrary to what some might assume, business objectives and environmental stewardship aren’t always in competition: improving energy efficiency can reduce fuel and energy consumption costs.



Q. What impact has the introduction of electric vehicles in Africa had so far?



A. Introducing electric vehicles is a recent and promising initiative which commenced in June 2023 with the deployment of ten electric vehicles in South Africa’s vehicle fleet. While it is still early to gauge the full extent of the initiative&#8217;s impact, swapping traditional internal combustion engine vehicles with zero-tailpipe emissions electric models reduces carbon emissions and contributes to cleaner air quality, aligning with our global sustainability goals.



The initial trials assessed the MAXUS eDeliver 3 model’s performance on standard routes. It has zero tailpipe emissions and a 240km range on a single charge, which has proven to be sufficient for typical delivery routes, making sure our technology can hold up to network demands and customers’ expectations.



Q. Please highlight some impactful charitable FedEx initiatives executed in Africa.



A. Under the FedEx Cares umbrella, we have partnered with various non-profit organizations to deliver resources that improve the lives of those we serve.



In FY24, through a collaboration with The Wana Johnson Development Project, we donated a new container classroom which serves as a Montessori Center for children in Taweni in Eastern Cape, South Africa.



We also donated two boreholes to Kanana, an underserved town in the rural Gauteng province of South Africa, to alleviate the effects of the area’s water shortage and help residents access clean drinking water.



Q. How does FedEx support local businesses and entrepreneurs in Africa?



A. FedEx enables SMEs to reach their full potential by connecting them to a world of possibilities through the strength of our global network, tailored services, and digital solutions.



In the thriving wine industry of South Africa, for example, FedEx has tapped into the wine market to sponsor the FedEx Next Generation Awards, which recognize start-up wine producers in the country. This is in line with our specialized wine shipping solutions for exporters where we offer free customized FedEx packaging designed specifically for shipping wine internationally. This has broadened our customers’ networks and allows high-speed transit times through the world’s largest cargo airline.



We’re also supporting our customers’ sustainability goals and helping them make informed supply chain decisions with digital solutions. Our direct-access emissions reporting tool, FedEx® Sustainability Insights, is available in 34 languages and provides emissions estimates at the package and account level for eligible shipments.&nbsp;



Such offerings can benefit business partners as well as the planet at large.

Taarek-Hinedi_Vice-President_Middle-East-and-Africa-Operations_FedEx

The Road To Sustainability And Development On The Continent

As Africa grapples with the severe impacts of climate change, the need for innovative solutions and proactive initiatives has never been greater.



The continent is witnessing unprecedented changes: rising temperatures, extreme weather events, and socio-economic disruptions. These challenges are exacerbated by power outages, economic disparities, and political uncertainties, creating a complex landscape for sustainability efforts.



Recognizing this urgency, African companies like the MultiChoice Group, are responding with transformative initiatives that not only address these pressing issues but also foster sustainable development across Africa.



Climate Change and Africa: A Stark Reality



Climate change poses a significant threat to Africa, where many communities rely on climate-sensitive sectors such as agriculture, forestry, and fisheries. According to the Intergovernmental Panel on Climate Change (IPCC), the continent is particularly vulnerable to the adverse effects of climate change, including prolonged droughts, severe floods, and dwindling water resources.



These events threaten food security, displace populations, and disrupt economic activities. In South Africa, the energy crisis exacerbates these issues, highlighting the urgent need for sustainable energy solutions.



MultiChoice Group acknowledges these challenges and is committed to being part of the solution.



The MultiChoice Group Environmental, Social, and Governance (ESG) report outlines a comprehensive approach to sustainability, aligned with the United Nations’ Sustainable Development Goals (SDGs). By integrating these goals into our business strategy, MultiChoice aims to meet current needs while safeguarding future generations.



A Holistic Approach to Environmental Sustainability



MultiChoice’s environmental strategy is built on four core pillars: strategic partnerships, conserving natural resources, enhancing environmental performance, and limiting direct environmental impact. This integrated approach ensures that sustainability is woven into every facet of business operations.



Strategic Partnerships: The Earthshot Prize



In the face of these challenges, strategic partnerships and innovative practices are essential. The Earthshot Prize, a global initiative dedicated to finding and accelerating groundbreaking solutions to repair the planet, plays a pivotal role in this regard.



By amplifying messages, encouraging African innovators, supporting local finalists, and mobilizing communities, significant progress can be made in tackling sustainability challenges.



The Earthshot Prize annually awards five winners with £1 million (approximately $1.2 million) grants to scale their innovative projects. African innovators have already made their mark with winners from across the diaspora. These projects underscore the ingenuity and ambition of African innovators, driving significant change and highlighting the continent’s potential on the global stage.



In November 2024, Cape Town will host the annual Earthshot Prize celebration, marking the first time the event is held in Africa, spotlighting innovative solutions and fostering community engagement across the continent.



Since its inception, five African organizations have been selected as finalists namely, Reeddi Capsules (from Nigeria), Pole Pole Foundation (from the Democratic Republic of the Congo), Roam, Sanergy and Mukuru Clean Stoves (from Kenya).



In 2022 Mukuru Clean Stoves won the Clean Our Air Earthshot. It is a start-up providing cleaner-burning stoves to women in Kenya to reduce unhealthy indoor pollution and provide a safer way to cook.



In addition to the £1 million prize, winners also benefit from a global network of professional and technical support to scale their work. This includes access to resources across numerous professions and sectors including manufacturing, retail, supply chains, legal advice, digital technology, business strategy and government relations via The Earthshot Prize Global Alliance.



Conserving Natural Resources



Promoting sustainable practices through optimizing energy use, reducing water consumption, and minimizing waste are critical components of a sustainable future. For instance, the MultiChoice offices in Randburg, South Africa, boast a five-star green rating from the Green Building Council South Africa. Solar photovoltaic solutions at these facilities further reduce reliance on non-renewable energy sources, while water conservation measures such as dual flush systems, drip-piping sprinkler systems, and grey water systems address the critical issue of water scarcity.



Innovation is key to enhancing our environmental performance. This includes developing energy-efficient products and implementing eco-friendly processes. Our technology arm, Irdeto, collaborates with Fruitful Office and NGO Ripple Africa to combat deforestation in Malawi through a fruit tree-planting campaign, providing a sustainable solution to offset CO2 emissions.



A Commitment to Carbon Neutrality



MultiChoice is committed to achieving carbon neutrality in greenhouse gas emissions by 2050. Conducting annual climate risk assessments, evaluating the impact of climate-related matters on the business, and integrating the findings into their management processes are proactive steps addressing the climate crisis. By measuring scope 1 and 2 greenhouse gas emissions and setting reduction targets, MultiChoice is proactively addressing the climate crisis.



Driving Sustainable Development



MultiChoice’s commitment to sustainability is not just about mitigating environmental impact; it&#8217;s about enriching lives. By fostering innovation, supporting local communities, and partnering with global initiatives like The Earthshot Prize, MultiChoice is driving sustainable development across Africa. Our annual ESG report details these initiatives and provides a roadmap for a greener, more sustainable future.



In a world facing significant environmental challenges, MultiChoice Group exemplifies leadership and innovation. Through strategic partnerships, innovative practices, and a steadfast commitment to sustainability, MultiChoice Group is charting a course toward a more sustainable future for Africa and beyond.



For more details on MultiChoice’s ESG initiatives, visit <a href="https://www.multichoice.com/">www.multichoice.com.</a>

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Africa’s Green Revolution: Championing Climate-Conscious Africans For A Sustainable Future

Africa has made significant progress in terms of infrastructure development, committing billions of dollars to improve its transportation, energy, water, and digital networks. This infrastructure boom is crucial for boosting economic growth, creating jobs, and reducing poverty across the continent. With the right investments and reforms, Africa can build the modern infrastructure needed to boost trade, create jobs, and transform the continent&#8217;s economic prospects.



Yet current investment still falls far short of demand. According to the African Development Bank, the continent has a $100 billion annual shortfall in infrastructure financing. This infrastructure gap is not only impacting lives today, but also significantly curtailing the continent’s potential for economic, entrepreneurial, and developmental progress. The African Union estimates that inadequate infrastructure has led to the reduction of national economic growth by 2% annually in most African countries and as much as 40% reduction in industrial productivity.



If we manage to close this gap, we unlock the immense potential of infrastructure – and especially sustainable infrastructure – to drive growth and development on the continent. There is a real desire amongst state-owned companies (SOCs) to do so, and an increasing awareness amongst investors of the alignment of interests that opportunities in African infrastructure represent.



We have noticed, in particular that Gulf Cooperation Council (GCC) countries have stepped up their investments in Africa as they look to diversify their own economies. The GCC&#8217;s strategic policy priorities and economic diversification interests align perfectly with the opportunity to support Africa&#8217;s development agenda, and the GCC is equipped with the technical expertise and financial resources necessary to bridge Africa’s investment gap through innovative public-private partnerships (PPPs).



Over the past decade, the GCC has emerged as a major investor across Africa, with a growing number of trade deals finalized that significantly benefit both regions. Dubai is increasingly establishing itself as the gateway to African investment. Investing in Africa, and developing relationships with SOCs and financial institutions, allows GCC nations to access new markets, expand business operations, and secure access to abundant natural resources. The GCC states generally have superb relationships with many of the 20 countries in which our group has a universal presence, which is an important foundation for the development of effective PPPs and direct investment projects.



Iconic transactions of late include the acquisition of Imperial Logistics, a South African logistics operator, by DP World, the global infrastructure-led supply chain solutions provider based in Dubai. As a result of this transaction, DP World gained a stronger foothold in Africa and Imperial Logistics benefitted from DP World&#8217;s leading technology, global networks, and key trade-lane volumes. It’s a win for DP World and Imperial Logistics – the two are clients of the bank.



Another success has been our partnership with DP World to offer trade finance solutions to African SMEs, which will help in closing the gap in unmet demand for working capital on the continent. This partnership reflects our strategic vision of driving Africa’s growth, and is a demonstration of our commitment, as Africa’s largest bank, to the transition of financial services to platform-based ecosystems and to the improvement of client experiences.



ESG and the broad-scale sustainable impact of our work is a key focus area for Standard Bank, and this aligns with the appetitive for sustainability that we’ve seen from the UAE. UAE investors are sophisticated supporters of the vision of more circular economies and are making a demonstrable impact in enabling a just transition for the continent.



Spurred by the benefits of economic diversification, GCC countries are actively investing in high-growth sectors such as clean energy, manufacturing, and logistics, while also committing to sustainable development projects, including food and water security. Against this backdrop, the opportunities in African infrastructure align seamlessly with the GCC states&#8217; multi-sectoral investment appetite.



We have, for the past four years, facilitated the State-Owned Company Investment Summit, which introduces large sovereign-owned companies to investors from the MENA region. Each year we record tangible, significant successes as a result of the summit.



It was as a result of last year’s Investment Summit that Standard Bank was able to facilitate a unique syndication facility for the Development Bank of Southern Africa in the UAE. The US$255 million facility was the first of its kind to be successfully accessed by a South African state-owned entity in the UAE and broader Middle East/North Africa (MENA) markets, representing a milestone for both DBSA and for South African fundraising initiatives in the UAE.



Standard Bank and UAE-based, Mashreq were joint lead mandated arrangers in a deal which was oversubscribed, demonstrating significant market interest from UAE investors and the MENA broader region. The DBSA mandated Standard Bank to act as the mandated lead arranger to anchor and raise U.S. dollar liquidity to diversify its global investor base.



Standard Bank is actively involved in supporting effective PPPs by demonstrating the economic value that derives from these projects, and through the rigorous governance structures that we’ve optimized. Risk is managed through an end-to-end process that takes deep cognisance of the value chains that are required for doing business in Africa, and which gives our partners comfort and security and the confidence to engage in these beneficial transactions. There is nothing exceptional in terms of the risk proj

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Unlocking Continental Potential: The Importance Of Local Knowledge In African Infrastructure Investment

Less than two years ago, we were all enthralled by the emergence of a technology that promised to disrupt all facets of our lives. What started as a live social experiment of opening large Natural Language Processing (NLP) algorithms, in the form of ChatGPT, to answer the public’s unscripted questions, soon proved so effective that most see it as a technology with the potential for major disruption.


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However, over time, many observers’ enthusiasm was curbed by the realization that physical limitations exist in building larger, more capable training models. When we ask ChatGPT a question online, a machine is crunching numbers – consuming more than 10 times the power of a Google search. It is not magic. Nor is it a tireless sentient being answering our questions – it is machines doing complex math. The more we ask of it, the bigger it needs to be.



Despite physical challenges, many believe that the future domination of Artificial Intelligence (AI) through Large Language Models (LLMs) is inevitable. Others are more skeptical. Setting aside the enormous cost (currency and environment) associated with building, training and maintaining these models – which proponents will argue are fixable; mere eggs broken in the pursuit of a sentient omelet – how the technology itself will mature and the societal role it will fulfil is debatable.



The problem might lurk in its current design: the lack of Intelligence, or the “I” in AI. People are mesmerized by Generative AI’s output and the illusion of understanding that it possesses. But at its core, the generative AI models are algorithms trained on human-supplied information: publicly available webpages fed into a computer with contextual patterns mapped out.



After fitting the parameters, it is then able to take text prompts and produce the statistically most likely combination of words (or combination of pixels in a picture) to satisfy the questioner’s request. It is ultra-efficient predictive text strung together in a way that is unsurprisingly (given its vast library of human-supplied training data) very human-like.



When generative AI draws a realistic horse, it produces a combination of pixels statistically most likely to succeed in its prompt. It doesn’t rely on reasoning, draw outside the confines of its objective, or dream up an aesthetic rendering. The horse likeness is the outcome of a likelihood distribution based on human supplied training information. Nothing more, but (profoundly too) nothing less.



The groundbreaking improvement posited by Google engineers to past versions of predictive text was to allow for deeper contextual considerations to be accounted for during training – and much, much larger datasets to train on.



At its core, AI remains a parrot, not a mind… a remarkable achievement in mimicry and information collation, but certainly not sentient. But if given more time, data and computing power, will we ever see the emergence of super-human intelligent algorithms at our disposal – the so-called AGI revolution?



So far, no one has been able to convincingly argue why an algorithm, trained on human input data, will somehow be able to transcend its training set and supersede human intelligence.



A curious problem is that generative AI has always been portrayed by its progenitors and proponents as a force that will either be a panacea to all our ills or a real existential threat – a temperate middle from insiders has mostly been lacking. This has succeeded in capturing the public’s imagination, but with an unrealistic base assumption of its capabilities.



What we lack is a clear and universally-accepted use case.



We’ve seen its capability of improving productivity in repetitive tasks, its speedy (albeit not always trustworthy) information collation and its astounding replication of human generative capabilities in art, film and music by mimicking human creativity. But can AI ever exceed humans’ capabilities and cause us to be indefinitely dependent on its wisdom and guidance? That may stay science fiction.



A more realistic take on AI currently is that it will likely prove to be a useful productivity tool in many industries, not a grand source of displacement. The automobile made many horse trainers’ past vocations irrelevant, but not the person. An industry soon formed to maintain the disruptor – and we are all grateful for its invention. We should be more realistic and pragmatic about generative AI and its possible applications.



Finally, how should one go about investing in this technological revolution? When it comes to securing the rights to raw inputs for chip manufacturing, access to the top minds and use of expensive computing equipment to develop the technology further – size and scale matters.



Mark Twain said that when everyone is looking for gold, it’s good to be in the picks and shovels business. Investing in the companies owning the rights to picks and shovels used for tomorrow’s application may very well be the best course of action at this point – and few indices encapsulate this better than the Nasdaq 100. From what we know today, it certainly seems like a sensible horse to back.



*Satrix is a division of Sanlam Investment Management



Disclaimer 



Satrix Investments (Pty) Ltd is an approved FSP in terms of the Financial Advisory and Intermediary Services Act (FAIS). The information does not constitute advice as contemplated in FAIS. Use or rely on this information at your own risk. Consult your Financial Adviser before making an investment decision. Satrix Managers is a registered Manager in terms of the Collective Investment Schemes Control Act, 2002.&nbsp;



While every effort has been made to ensure the reasonableness and accuracy of the information contained in this document (“the information”), the FSPs, their shareholders, subsidiaries, clients, agents, officers and employees do not make any representations or warranties regarding the accuracy or suitability of the information and shall not be held responsible and disclaim all liability for any loss, liability and damage whatsoever suffered as a result of or which may be attributable, directly or indirectly, to any use of or reliance upon the information. &nbsp;

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AI: Whence It Came And Wither It Goes

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<ol class="wp-block-list">
<li>A brief introduction to Kenneth Mbae.</li>
</ol>



As the Managing Director for Centum Real Estate (Centum RE), I oversee the company’s operations, investments, as well as ESG, financial and strategic goals in both Kenya and Uganda. I joined Centum in 2010 and am an alumnus of the Harvard GSD Advanced Management Development Program and the University of Cambridge JBS Senior Management Programme.



2. How was this vision born and what is the current holding and future outlook?



Centum RE was established as a subsidiary of the Centum Investment Company and has established itself as East Africa’s largest real estate development and investment firm that focuses on delivering award-winning integrated live-work-play projects located in attractive urban hubs, to address the market’s need for affordable and contemporary housing. Our portfolio includes a solid asset base of over $307 million, a land bank of 8,045 acres and a pipeline of 10,000 residential units. We aim to continue placemaking the next urban nodes, with strong emphasis on integrating sustainable, green and modern features as well as to expand our economic and social impact across the continent.



3. In the year 2023, we saw some huge awards for Centum RE. Please take us through this and tell us about their impact and significance.



Yes, our portfolio received five (5) notable awards,



<ul class="wp-block-list">
<li>Centum RE was recognized as the 2023 EDGE Champion (Africa) by the International Finance Corporation (IFC).</li>



<li>The Vipingo Development Limited received the Circularity Initiative of the Year Award from the Big 5 Global Impact Awards.</li>



<li>Centum RE received the 2023 Most Sustainable Real Estate Development Award (Kenya), from the International Business Magazine.</li>



<li>Centum RE received the Real Estate Developer of the Year (2023), from the International Business Magazine.</li>



<li>Centum RE received the 2023 Residential Project of the Year (Kenya), from the International Business Magazine.</li>
</ul>



Notably, a majority of the awards affirmed our commitment and excellence in sustainability as well as greening the real estate sector.



4. If a pan-African reader is interested in investing money in real estate in Centum, how does your company assist them?



We offer comprehensive assistance to foreign investors seeking to make real estate investments through our portfolio projects. This is coordinated in collaboration with our project, sales, and legal teams, who engage the investor to understand their homeownership needs and/or investment appetite, in order to assist them in identifying suitable properties. In addition, we inform foreign investors on applicable laws and guide them to ensure compliance with all legal and statutory obligations. The process facilitates them to complete the transaction, pay taxes as well as obtain title documentation.



5. How do you ensure that all your community housing is resilient in the face of climate change?



Centum RE’s development process is guided by robust Environmental and Social Management System (ESMS) as well as ESG (Environmental, Social, and Governance) frameworks that outline provisions to build resilience against climate change through the adoption of green building standards in portfolio projects.



5. Which are your three biggest projects in Kenya and Uganda in terms of Capitalization and Sales?



Our three biggest projects are:



<ul class="wp-block-list">
<li>26 Mzizi Court – Mzizi is an affordable housing project that comprises of a total of 1,940 units currently under construction at the Two Rivers Social City in Nairobi, Kenya. The project is valued at $76 million.</li>



<li>256 Bella Vista Apartments – Bellavista offers stylish, yet affordable units located within Pearl Marina Estate in Entebbe, Uganda. The project is valued at $21.2 million.</li>



<li>1255 Palm Ridge Apartments – Palm Ridge is a uniquely crafted affordable housing project nestled within Vipingo City, Kenya. The project is valued at $8 million.</li>
</ul>


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6. You are encouraging Africans to invest and buy homes from you, which countries/nationalities have shown most interest and why?



A majority of our clients in Africa come from the East African Community, since that is where our operations are based.



To create tangible wealth with Centum Real estate, scan the code below:

MD Centum RE profile

Spotlight On Kenya’s Trailblazing Real Estate Developer

Few people could have anticipated the scope of the Covid-19 pandemic and its dire effects on health systems and beyond throughout the world. Fewer people even could have predicted how Covid-19 would change our perception of health sovereignty.



This pandemic was a sober reminder of how Africa is vulnerable to large-scale public health crises due to its heavy reliance on external sources for critical medical supplies, including vaccines.



As we look toward the future, it is imperative that Africa takes decisive steps to bolster its local vaccine manufacturing capacity and invest in creating a robust pharmaceutical business ecosystem capable of meeting its needs.



It is not only a health priority but a strategic necessity for the continent’s sovereignty and self-sufficiency.



Where do we stand? And what should we do?



Currently, Africa imports more than 99% of its vaccines for its more than 1 billion citizens, relying heavily on global supply chains. At the height of the Covid-19 pandemic, Africans faced severe delays in accessing life-saving countermeasures. This shortage highlighted Africa’s imperative for the scaling up of local manufacturing capabilities.



Despite initiatives like the COVAX facility coordinated by GAVI, the Vaccine Alliance, with the support of key partners like CEPI, WHO, and UNICEF, global procurement, and delivery of vaccines in Africa was an uphill battle.



I was the Deputy Global Coordinator for Covid-19 Vaccine Delivery Partnership and led the COVAX Facility delivery team. This first-hand experience has shaped my outlook on what I think should be done differently to build healthier African healthcare delivery systems.



We should build a local vaccine manufacturing ecosystem (and for other medical products as well) in a holistic manner by fostering partnerships between governments, private sectors, and international organizations. Taking into consideration all the issues we are facing currently, our efforts should go toward a dedicated approach to strengthening the required infrastructure and important investment, and developing robust regulatory bodies to ensure the safety and efficacy of locally-produced vaccines. Thus, we would ensure the appropriate training and retention of a skilled workforce including collaboration with educational institutions to develop relevant training programs.



Already, countries like Rwanda, Senegal and South Africa are making great strides in this direction. For instance, Rwanda is setting up a manufacturing plant together with the German company BioNTech, which will focus on the production of mRNA vaccines and other medical products.



Similarly, Senegal&#8217;s Institut Pasteur de Dakar will become a key player in vaccine production with recent investments; it is set to expand its manufacturing capacity significantly.



In addition, there is a strong need to attract financial investment to ramp up existing production volumes and R&amp;D for African pharma industries. Public-private partnerships will be key to achieving this; vaccines and medical products in general should be considered public goods requiring public investments on the same level as roads or bridges.



International financial institutions and foreign pharmaceutical firms must play their part in supporting these initiatives and tap into this emerging market.



What’s next for African health?



As a candidate for the position of Regional Director of WHO in the African Region, my vision for the future of the vaccine manufacturing industry in Africa is clear. As a continent we must become self-reliant and capable of meeting our own needs, and in time even becoming a global supplier of quality medical products. We can no longer afford to wait to be saved, Africans must do the needful for ourselves.



Local vaccine manufacturing is pivotal for Africa’s health security, economic growth, and equitable access to vaccines. In a very dynamic and promising continent like Africa, where 70% of the population are under 30 years old, health should be at the forefront of all development efforts. It should also be at the center of our efforts in reaching the Sustainable Development Goals (SDGs).



I will make it my priority, should I be appointed, to speak for all Africans at the WHO working right away on advocacy and developing country-tailored programs. Boosting the local manufacture of vaccines and other medical products will be one of my priorities with the aim to improve our self-reliance but also boosting our economies and creating jobs for our youths.



The journey to self-sufficiency will be long and challenging. However, by leveraging the lessons learned from previous pandemics and investing in African-made pharmaceutical solutions, we can build better healthcare for better lives, here in Africa.

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Building A Healthier Future In Africa: The Need For Local Vaccine Manufacturing

“I knew the African market was ripe for a Home transformation,” says Ewaen Sorae, a visionary entrepreneur from Nigeria, who is on a mission to transform Africa&#8217;s Home hospitality and home decor industry. As the founder and CEO of E’sorae Home, Sorae is redefining the standards of comfort, quality, and elegance across the continent.



A Bold Decision



In 2010, just short of qualifying for British citizenship, Sorae made a bold and unconventional decision. For many Africans, the opportunity to extend their stay in the U.K. as a path to citizenship is an important generational decision, offering stability and improved prospects for future generations. However, for Sorae, the call to entrepreneurship was stronger. Recognizing the immense potential in an underdeveloped market, he chose to return to Nigeria from the U.K. &#8220;The U.K. offered better prospects at the time, but I saw an opportunity in Nigeria that couldn’t wait,&#8221; Sorae recalls. This decision marked the beginning of E’sorae Home, a brand that would grow to rival global giants and redefine Home in Africa.



Building the Brand



E’sorae Home started with a focus on high-quality beddings and towels in Lagos. The company quickly expanded to include a wide range of home and lifestyle products, establishing a strong market presence across Nigeria. Today, E’sorae Home serves over 94,000 customers and 736 hotels, producing up to 856 duvets and numerous premium mattresses daily.



Innovation and Quality



At the heart of E’sorae Home&#8217;s success is its commitment to innovation and quality. The company employs a dedicated research and development team to create products that enhance sleep quality. Their flagship products, including high-breed massage beds and pocket spring mattresses, are designed to provide unparalleled comfort and support. Additionally, E’sorae offers a range of sleep-related products, such as fragrances and scented candles, and provides in-house sleep doctor consultations.



Expanding Horizons



Sorae’s vision extends beyond Nigeria. E’sorae Home is embarking on an Africa-wide expansion, targeting markets in Accra, Dakar, and Abidjan. The company is also exploring opportunities in the United States and the United Kingdom, leveraging trade agreements like the African Growth and Opportunity Act (AGOA) and the US-Africa Trade Relations Act.



Overcoming Challenges



The journey has not been without challenges. Sorae faced significant hurdles in navigating regulatory environments and economic volatility in Nigeria. However, his resilience and ability to leverage his experience and network have been instrumental in overcoming these obstacles. &#8220;Building strong relationships with all partners in the value chain and focusing on local production have been key to our success,&#8221; Sorae explains.



Social Impact



E’sorae Home&#8217;s impact extends beyond its commercial success. The company has created numerous jobs and contributed to the local economy by supporting local production and reducing the need for imported goods. Sorae and his wife, Iyobosa, also established the OpesVenit Family Office to create generational wealth for their family. This initiative has led to projects in retail, hospitality, education, and technology, including the acquisition of one of their businesses, WhiteTree Gourmet, a Home retail groceries supermarket.


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<figure class="aligncenter size-large"><img loading="lazy" decoding="async" width="1024" height="819" src="https://cms.forbesafrica.com/wp-content/uploads/2024/07/Iyobosa-Sorae-CEO-of-OpesVenit-Family-Office-with-Ewaen-Sorae-CEO-of-ESorae-Luxury-Bedding-Homeware-for-Hospitality-Homes-1024x819.png" alt="" class="wp-image-62435" srcset="https://cms.forbesafrica.com/wp-content/uploads/2024/07/Iyobosa-Sorae-CEO-of-OpesVenit-Family-Office-with-Ewaen-Sorae-CEO-of-ESorae-Luxury-Bedding-Homeware-for-Hospitality-Homes-1024x819.png 1024w, https://cms.forbesafrica.com/wp-content/uploads/2024/07/Iyobosa-Sorae-CEO-of-OpesVenit-Family-Office-with-Ewaen-Sorae-CEO-of-ESorae-Luxury-Bedding-Homeware-for-Hospitality-Homes-300x240.png 300w, https://cms.forbesafrica.com/wp-content/uploads/2024/07/Iyobosa-Sorae-CEO-of-OpesVenit-Family-Office-with-Ewaen-Sorae-CEO-of-ESorae-Luxury-Bedding-Homeware-for-Hospitality-Homes-768x614.png 768w, https://cms.forbesafrica.com/wp-content/uploads/2024/07/Iyobosa-Sorae-CEO-of-OpesVenit-Family-Office-with-Ewaen-Sorae-CEO-of-ESorae-Luxury-Bedding-Homeware-for-Hospitality-Homes-1536x1229.png 1536w, https://cms.forbesafrica.com/wp-content/uploads/2024/07/Iyobosa-Sorae-CEO-of-OpesVenit-Family-Office-with-Ewaen-Sorae-CEO-of-ESorae-Luxury-Bedding-Homeware-for-Hospitality-Homes.png 2000w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Iyobosa Sorae, CEO of OpesVenit Family Office, with Ewaen Sorae, CEO of E’Sorae Luxury Bedding &amp; Homeware for Hospitality &amp; Homes</figcaption></figure></div>


The E’sorae Foundation, a non-profit organization focused on various community initiatives, has recognized that education is the foundation of any society. In light of the impact of COVID-19, there was an urgent need to delve into a reformative strategy within the education sector. To address this gap, the foundation introduced experiential learning to early childhood education. The school established under this initiative is currently one of the best experiential Montessori institutions in the region. Here, children learn by transitioning from concrete experiences to abstract concepts, with a strong emphasis on extracurricular activities, moving away from traditional rote memorization methods.



The Future



Looking ahead, Sorae envisions E’sorae Home becoming a leading brand in the global hospitality and furniture industry. The company&#8217;s long-term vision includes expanding its product offerings, entering new markets, and maintaining its innovative edge. &#8220;We aim to set new standards in the hospitality sleep industry and create opportunities that improve the quality of life for people across the continent,&#8221; Sorae states.



Sorae&#8217;s journey is a powerful example of how visionary leadership can transform industries and drive economic growth. His story is a testament to the power of resilience, creativity, and a commitment to excellence. As E’sorae Home continues to grow and expand, it is poised to become a global leader, setting new benchmarks for quality and innovation.

Ewaen Sorae, CEO of E’Sorae Luxury Bedding & Homeware for Hospitality & Homes

From Nigeria To The World: How This Entrepreneur Is Building Africa’s Premier Luxury Hospitality And Home Decor Brand

For nearly three decades, I&#8217;ve been fortunate to be part of MultiChoice&#8217;s journey, one that has been as intertwined with the development of African storytelling as it has been with the continent&#8217;s evolution itself. Looking back, the path has been filled with triumphs and challenges, each one a valuable lesson that echoes in MultiChoice&#8217;s unwavering commitment to Africa.


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In this piece, I want to share some of these key takeaways, hoping they become guiding lights for future undertakings on the continent.



The power of stories from our backyards



From the outset, MultiChoice understood the strength of local narratives. We weren&#8217;t just distributors of foreign content; we were committed to fostering African stories, created by Africans, for Africans. This wasn&#8217;t just about showcasing our cultures on screen; it was about nurturing a sense of identity and community across a continent brimming with diverse voices.



Investing in local productions wasn&#8217;t without its difficulties. We had to navigate unfamiliar territory, from identifying and developing local talent to understanding the storytelling nuances across borders. But the rewards were far greater. Local content resonated with audiences in a way foreign productions never could. It sparked conversations, challenged perspectives, and fostered a sense of unity and pride.



This focus on local content remains a cornerstone of MultiChoice&#8217;s success. It&#8217;s a testament to the fact that audiences crave authenticity, and that stories that reflect their lived experiences have the power to connect on a deeper level.



Building bridges through innovation



Africa is a land of vast potential, but it also presents logistical hurdles. From remote locations to underdeveloped infrastructure, being able to reach every corner of the continent with traditional broadcast methods proved challenging. This is where innovation became our guide.



MultiChoice embraced technological advancements to bridge these gaps. The introduction of DStv, a satellite pay-TV service, was a game-changer. It allowed us to deliver high-quality content directly to homes, bypassing geographical limitations. As technology evolved, we continued to adapt, from offering mobile streaming services to exploring possibilities in the ever-expanding realm of digital entertainment.



The lesson here is clear: innovation is not just about staying ahead; it&#8217;s about finding solutions that address the specific needs of the people. By embracing technological advancements, we were able to not only expand our reach but also empower African audiences to consume content in new and exciting ways.



Stronger together rings true



Our continent is a tapestry of cultures, languages, and traditions. To truly succeed, we needed to foster a spirit of collaboration, working not just within Multichoice but also with partners across the continent. This meant forging relationships with local content creators, distributors, and regulators.



Collaboration wasn&#8217;t always easy. There were differences in perspectives, and navigating cultural sensitivities was essential. But through open communication and a shared vision of empowering African storytelling, we were able to build bridges and create an ecosystem that thrived on collective effort. The message here is that success in Africa is rarely a solitary venture. By working together, sharing resources and expertise, we can create a more robust and sustainable broadcasting and video entertainment industry that benefits all stakeholders.



The power of investing in people



At the heart of any successful organization is its people. Throughout my time at MultiChoice, I&#8217;ve always believed in the importance of investing in our talent. We strived to create a work environment that nurtured creativity, encouraged professional development, and celebrated diversity.



This investment paid off in immense growth. We built a team of passionate individuals who were not only skilled professionals but also deeply invested in the vision of a thriving African broadcast industry. Their dedication, resilience, and understanding of the local context were instrumental in overcoming challenges and achieving success.



The takeaway? Africa&#8217;s potential lies not just in its resources but also in its people. By empowering and nurturing local talent, businesses can build a strong foundation for long-term success.



The audacity to dream big



There&#8217;s one more lesson that stands out for me: the audacity to dream big. When MultiChoice began its journey, the African broadcast media landscape was vastly different. Satellite technology was in its early stages, and the continent&#8217;s infrastructure presented formidable challenges. Yet, we dared to dream of a future where African stories would be heard across the continent and beyond.



This audacity to dream big fueled our innovation and perseverance. It allowed us to see past the limitations of the present and chart a course for a brighter future. It&#8217;s a reminder that even the most ambitious goals can be achieved with a healthy dose of optimism, a willingness to take risks, and a relentless determination to succeed.



MultiChoice&#8217;s enduring commitment to Africa is a story of perseverance, adaptation, and a deep belief in the continent&#8217;s potential. The lessons we&#8217;ve learned along the way are not merely reflections of the past; they are guiding principles for the future. As the African broadcast industry continues to evolve, these lessons will serve as a compass, helping us navigate the exciting opportunities and challenges that lie ahead. Together, we can continue to unlock the power of African storytelling and ensure that the continent claims its rightful space on the global stage.



About Nolo Letele:



Nolo Letele&#8217;s journey is a testament to persistence. After facing limited opportunities in apartheid South Africa, he built his skills in Lesotho before joining M-Net. There, his expertise was instrumental in turning DStv into a continental giant. His leadership extended beyond South Africa&#8217;s borders as he pioneered MultiChoice&#8217;s expansion across Africa, ensuring African voices were heard. This dedication to the continent&#8217;s media development was recognized through numerous awards, solidifying his legacy as a champion for African storytelling.

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An Enduring Commitment To Africa

We often read the statistics around unemployment in South Africa and the challenges we face with regard to creating sufficient jobs. Although large corporations have a significant impact due to their scale, it is local businesses that are key to the success of our economy, providing 60% to 70% of the available jobs in South Africa.&nbsp;



“Given how important local businesses are in terms of job creation, it is vital to support the individuals who establish and run these businesses,” says Alan Wellburn, Head of Wealth at Standard Bank Wealth and Investment SA. “This includes enabling them to build and preserve their personal wealth.” 


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Risk versus reward&nbsp;



Wellburn says that it is useful to distinguish between building wealth and preserving wealth, as they are very different but equally necessary.&nbsp;



“Starting a business would be considered as building wealth,” says Wellburn. “It is typically subjective, requiring one’s time and energy, and is quite often concentrated in one sector, region, or industry. It often comes with a high level of risk, but with the opportunity to generate excess returns and build one’s wealth.”&nbsp;



“When preserving wealth, one tries to be more objective, making use of asset managers or index funds to allocate capital,” Wellburn continues. “It doesn’t require your time or energy and should ‘grow while you are sleeping’. These investments should also be less concentrated and well-diversified over regions, sectors and asset classes. They should provide a return at a lower level of risk.”&nbsp;



When running a business, one’s focus is typically on building the business and building wealth, but it is equally important to find opportunities to allocate funds to preserving wealth. “This can be done monthly, or as lump sums when dividends are declared and distributed,” says Wellburn. “It is also essential to consider doing this when there is a liquidity event, such as when a business, or a portion of a business, is sold.”&nbsp;



Hope for the best, prepare for the worst&nbsp;



According to Wellburn, it is essential to ensure that the appropriate structures are put in place with regard to the ownership of a business. “This is important for a number of reasons, such as separating personal assets from business risk to ensure that business ventures do not destroy personal wealth.”&nbsp;



“Not paying appropriate attention to succession planning and estate planning can have unintended consequences which can sometimes be very undesirable,” he continues. “An example of this is an entrepreneur who held the shares of his very successful business in his personal capacity. When he passed away, his family was forced to sell the business to settle debt, and pay capital gains tax (CGT) and Estate Duty.”&nbsp;



“Starting and growing a successful business is often the result of individuals with different and complementary skills coming together,” adds Wellburn. “However, if your business partner leaves their share of the business to a spouse who does not have the same skill set, it can be a challenge to continue to run a business with them. It is therefore important to put measures in place to mitigate this risk.”&nbsp;



This may be a simple ‘Buy and Sell’ agreement with the appropriate risk solutions to provide the financial resources for the surviving business partner to buy out the deceased business partner’s interest. This also provides the spouse of the deceased business partner with the financial resources to support their lifestyle without having to suddenly become an expert in a business they may not be interested in.&nbsp;



A commitment to the future&nbsp;



“At Wealth and Investment, we recognize that while local businesses are very important, the real heroes are the people who start and run them,” says Wellburn. “We are committed to supporting them with bespoke solutions and quality advice that will enable them to build and preserve their personal wealth, and leave a lasting legacy for future generations.”&nbsp;

Category: Brand Voice