Without wanting to stimulate undue concern, businesses should seriously consider the potential of future pandemic outbreaks and build up their operational resilience. This is a strong message from Carla Jordan, CEO of corporate underwriter, Emerald, an underwriting managing agent within Santam Specialist Solutions.



Through its alliance with Munich Re and its AA-rated security, Emerald is launching a stand-alone non-damage business interruption solution covering disease outbreaks for the South African (SA) corporate sector.



Recent statistics produced by independent data modelers, such as Airfinity, substantiated the reason for the launch of Emerald’s first-to-market pandemic product domestically in August 2023.



“What this data tells us is there is an approximately 25-30% chance of another pandemic of the same or greater magnitude than Covid-19 within the next 10 years. That percentage jumps to over 50% within 25 years,” says Jordan.



International Health Regulations empower the World Health Organization (WHO) to act as the pre-eminent global body for surveillance of disease outbreaks and their potential implications on public health. Should a disease outbreak develop into an extraordinary event, which is considered a public health risk internationally, the WHO will declare a Public Health Emergency of International Concern (PHEIC), prompting member states to initiate their public health response. This framework forms the basis for the policy’s triggers.



Jordan explains that factors such as climate change, deforestation, urbanization and greater global mobility are all increasing the frequency of disease outbreaks that may develop into a significant global threat.



“As was revealed during the Covid19 pandemic, the economic impact is devastating, which exacerbates the already vulnerable South African society.”



The need for a risk transfer solution to mitigate a future pandemic outbreak has, therefore, never been more crucial. After the peak of the Covid-19 pandemic passed, a vast number of global court cases debated whether loss claims constituted a direct physical loss under a commercial insurance policy.



The courts’ rulings went against the insurance industry resulting in insurers excluding, from their policies, any cover related to pandemic-induced nonphysical damage, to ensure their risk appetite is not curtailed or impaired.



“This decision has left corporate SA without cover against the next pandemic,” says Jordan, “and, as the research and history shows, there will definitely be more such outbreaks in the future.”



With that in mind, the Pandemic Protection cover is a facilitator for insurers and clients to better forward manage risk in the next pandemic. Hans Schollenberger, Executive Head: Underwriting and Risk for Emerald, says that corporate SA’s survival through such an event will depend on such a policy.



“Business SA should be asking itself whether, without such a policy, it can manage the negative economic impacts, which include loss of gross profits or earnings; the wage roll; debt obligations; employee benefits; cash flow; and contingent loss from suppliers and customers. The likely answer is no!”



This is where the ‘parametric’ part of the policy comes in. Parametric solutions are popular because they respond to variables, be it how much cover an organization wants or can afford, and their planned strategic response to mitigate risk.



“We are very strong on risk benefits,” says Schollenberger. “This includes companies doing everything they can to slow the spread of a pandemic, such as encouraging vaccinations and abiding by regulations.



“The period of the insurance policy is typically 12 months, paid annually, and claims must be submitted as a sworn a davit by two company directors. Once approved, the claim pays out within 30 days, providing the insured with much needed liquidity to ensure the business can remain a going concern, and thereby avoiding long claims adjustment processes.”



“How much cover to buy is, therefore, of key importance,” says Schollenberger. “In terms of pricing, it may make sense, for example, to have 10% self-retention as a company and buy 90% cover. However, Emerald recognizes that each organization is unique unto itself, which is why our offering accommodates the extent and will of an organization’s capacity to invest in their resilience against a future pandemic.”

0008_Carla-Jordan-Edit (3) (1) (1)

Unique Business Interruption Policy Covers Corporates’ Future Pandemic Losses

One of the first words that spring to mind when people think of Africa is ‘sun’. No wonder. Africa is blessed with more sunshine than any other continent on earth.



The future, however, could be much brighter. That’s because the sun is set to become one of the biggest energy sources for the world. The power of the sun is indisputable. If we could harvest just one day of the sun’s energy, it would power the earth for a year.



And Africa is the solar power center of the world. According to the International Energy Agency (IEA), the continent is home to 60% of the best solar resources globally, but houses only 1% of installed solar PV capacity.



The African Development Bank has published estimates suggesting Africa has a potential capacity of 10TW of solar power. But it’s not just the sun. The IEA estimates the sub-Saharan region of Africa alone has 1,300GW wind energy potential and the continent has the capacity to produce 5,000 megatonnes of hydrogen per year.



Despite the wealth of resources at Africa’s disposal, almost 570 million people on the continent live without power. So how does Africa realize its untapped potential to help fuel the continent’s – and the earth’s – future energy needs?



The benefits of achieving that goal are enormous. Renewable energy offers Africa a central role in the new model for cleaner industrialization and economic growth. Investing in renewable energy reduces the continent’s dependence on fossil fuel imports, ensuring a more secure and stable energy supply for economic activities.



As renewable energy technologies like solar and wind become increasingly cost-competitive, they help to lower energy costs and stimulate economic competitiveness. For perspective, in 2006 the cost of a kilowatt hour of solar energy was over$2. Today it is less than two cents.



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<iframe loading="lazy" title="Masdar: The largest renewable energy company in Africa" width="500" height="281" src="https://www.youtube.com/embed/ilEa0tChLOU?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
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The transition to renewables also presents a vast opportunity for job creation, particularly in manufacturing, installation, operation, and maintenance of renewable energy infrastructure, benefiting the economy and local communities.



But while the fruits of a successful transition are clear, the question remains, how does Africa get there?



One of the clouds casting a shadow over Africa’s sunny future is the lack of available finance. In its World Energy Transitions Outlook 2023 report, the International Renewable Energy Agency noted the widening investment gap between the Global North and South, pointing out that Africa accounted for only 1% of additional renewable energy capacity in 2022.



That message was reinforced in June by COP28 President-Designate and Masdar Chairman, Dr Sultan Al Jaber at a roundtable discussion at the Summit for a New Global Financing Pact in Paris, when he remarked: “Climate finance is nowhere near available enough, accessible enough and affordable enough – especially for countries in the Global South.”



To appreciate the scale of the issue, it’s worth noting that clean energy investment in Africa represents only 2% of the global total. According to the IEA, to achieve its energy and climate goals, Africa would need investment of $190 billion each year from 2026 to 2030, with two-thirds going to clean energy. That would take the share of energy investment in Africa’s GDP to 6.1% in the 2026-30 period, but Africa’s energy investment would still be only around 5% of the global total.



The IEA has called on multilateral development banks to make increasing financial flows to Africa “an absolute priority”, arguing the banks should increase concessional finance to Africa and use it more strategically “to better leverage private capital. This includes domestic financial markets, which need to more than double in size by the second-half of this decade”. It conceded, however, that high debt burdens remain a challenge to investments.



As a nation, the UAE has sought to raise public and private sector funds to invest in the development of Africa’s renewable energy sector with the Etihad 7 initiative, which has set a target of 20GW of capacity to supply 100 million people across the continent with clean electricity by 2035.



The UAE’s flagship renewable energy company, Masdar, is heavily involved in the initiative, with agreements for projects that have a combined generation capacity of 7GW in Uganda, Angola, Zambia and Tanzania.



A first mover in pioneering energy projects in Africa for over a decade, Masdar, through its Infinity Power platform, holds more than 2GW of clean energy projects across the continent including Egypt, Morocco, Senegal, Mauritania, and South Africa. Masdar has already deployed $2 billion of capital to Africa and is on track to deliver 10GW of renewable energy projects across the continent by 2030.



In September this year, Masdar announced it was mobilizing $10 billion of investment to accelerate 10GW of clean energy projects in Africa, as part of the UAE’s investment initiative announced at Africa Climate Week.



Masdar’s Chief Executive Officer, Mohamed Jameel Al Ramahi, said: <a>“</a>As the largest renewable energy company in Africa, it is fitting that Masdar, with its Infinity Power platform, should take this bold step forward which will unlock much needed investment for the energy transition. Africa is a key strategic market for Masdar and we are proud of our history of clean energy projects there.”



Positive actions like these that help accelerate the delivery of finance to the development of clean energy projects in Africa are needed more than ever if the continent is to achieve its full potential as one of the world’s leading renewable energy providers.



Africa deserves a future where its name is synonymous with words like ‘energy’ and ‘power’. The UAE and Masdar are doing their part to make it happen.

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Accelerating The Deployment Of Clean Energy Projects Across Africa

It’s a new world out there, and businesses are looking for ways to create value and enable growth. That’s where Google Cloud comes in.



Geopolitical uncertainty, high inflation and low economic growth are shifting corporate priorities, and with them, business’ expectations with regard to the cloud: cost optimization, the ability to scale and all the other rationales for moving to the cloud are no longer relevant.



“Nowadays, companies are looking to the cloud for ways to do business more smartly, to create value for them in an incredibly difficult environment. And the focus on value creation is acting like a pressure test on cloud implementations, showing up the inadequacies that mostly derive from the ‘lift-and- shift’ approach so many companies followed,” says Gregory MacLennan, CEO, Digicloud Africa, Google’s enablement partner on the continent.


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<figure class="alignleft size-large is-resized"><img loading="lazy" decoding="async" src="https://cms.forbesafrica.com/wp-content/uploads/2023/09/Gregory-MacLennan-2-1024x557.jpg" alt="" class="wp-image-59581" style="width:422px;height:230px" width="422" height="230" srcset="https://cms.forbesafrica.com/wp-content/uploads/2023/09/Gregory-MacLennan-2-1024x557.jpg 1024w, https://cms.forbesafrica.com/wp-content/uploads/2023/09/Gregory-MacLennan-2-300x163.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2023/09/Gregory-MacLennan-2-768x418.jpg 768w, https://cms.forbesafrica.com/wp-content/uploads/2023/09/Gregory-MacLennan-2-1536x836.jpg 1536w, https://cms.forbesafrica.com/wp-content/uploads/2023/09/Gregory-MacLennan-2-2048x1115.jpg 2048w" sizes="(max-width: 422px) 100vw, 422px" /></figure></div>


Too often, companies simply transferred their existing on-premise IT infrastructure into the cloud, without undertaking the necessary work to modernize their systems to take advantage of what the cloud offers, he adds.



“Even if a company’s business processes are performing brilliantly, to get the benefit of moving to the cloud, the underlying IT needs to be optimized for the new environment. If that doesn’t happen, the company finds it has a sprawling IT estate and is exposed to rapidly-increasing dollar costs thanks to the declining rand.”



MacLennan says that companies are looking at five levers to accelerate business growth:



Do business smarter via digitalization



Companies have realized that their data is a treasure trove that can be mined to gain valuable insights into their customers, supply chains and products. The current hype around <a href="https://www.digicloud.africa/machine-learning/">artificial intelligence (AI) and machine learning (ML)</a> has led many companies to believe that a “data dividend” can be realized simply by hooking up to these capabilities in the cloud. Not so, argues MacLennan. First, it’s important to modernize the IT systems in order to facilitate the processing of data.



Move to an open architecture



“Nobody enjoys being locked into a relationship with a vendor and its crazy pricing,” observes MacLennan. “Google is the poster child for open source, not least because it avoids the lock-in trap—users can shift their applications easily between platforms as needs dictate.” He highlights the high levels of support and development rigor that underpins open source.



Enable better collaboration to enhance productivity and creativity



There’s a reason that digital natives tend to use Google Workspace as a platform, MacLennan says. Because it’s completely cloud-based, it offers a way for teams to work simultaneously on a document or other asset with none of the challenges of version control.



“You cannot underestimate the power of collaboration, but making it happen is hard, especially as the hybrid, anywhere/anytime workplace becomes more popular,” he notes. “Google Cloud has the solution.”



Security remains a key concern



IT systems and the data they contain now constitute the crown jewels of any company, and they are under attack as never before by highly sophisticated cybercriminals. Google has eight products that have more than a billion users live at any one time—security is core to its business. “There’s a reason people talk about <a href="https://www.digicloud.africa/security-with-google-cloud/">‘Google-level security</a>’, and that same level of protection is baked into Google Cloud,” MacLennan points out. “No individual company has the capital or expertise to provide that kind of protection.”



Sustainability has become a business issue for CFOs



Regulators continue to drive the integration of environmental, social and governance (ESG) issues into the reporting framework, with CFOs now under pressure to quantify the organization’s ESG performance in the financial statements. Google Cloud is currently the most sustainable cloud, so switching to it should improve a company’s ESG score.



Over and above, Google Cloud is also launching products all the time designed to help companies report on ESG more accurately and easily. An example would be Google Earth Engine, which can be used to measure the change in carbon footprints.



“Google Cloud has solutions that speak to all these levers, making it the platform best suited to today’s companies wanting to do business better and smarter,” says MacLennan. “But you can’t just shift into the cloud and expect that to work; you have to get the basics right. If you do, the rewards can be stunning: we have clients that have seen processes taking 48 hours reduced to 38 seconds, all at the cost of $100. “That’s the power of Google Cloud, done properly with the help of one of our certified partners.”



About Digicloud Africa



<a></a>Digicloud Africa is Google’s chosen enablement partner in Africa. Through Digicloud, Google is creating an ecosystem of Google Cloud partners across the continent. Digicloud supports its partner network by providing the necessary training, tools and resources needed to implement cloud solutions and support to their customers successfully. As customer demands for technology intensify, Digicloud is increasing its investment in supporting its partners to achieve sustainable growth. Digicloud’s partner enablement helps organizations build skills around open, advanced technologies to go to market with outcome-based solutions.



<a></a>Find Digicloud Africa on <a href="https://www.linkedin.com/company/digicloudafrica/?viewAsMember=true">LinkedIn</a>.

5g,Or,6g,Dot,Line,Mobile,Technology.,Wireless,Data,Network

How To Get Business Value From The Cloud

In a world where women continue to make their mark across diverse fields, Nutun’s recent Women’s event served as a powerful reminder that empowerment is not just a concept but a way of life.



By embracing challenges, supporting one another, and nurturing our innate potential, women are propelling themselves and society toward a brighter future. In this celebration of empowerment, Nutun was proud to share our message – together, we foster progress for all.



Empowering Women Every Day



On August 29, 2023 in South Africa, Nutun brought together a diverse group of individuals, ranging from call center employees to executive leaders, to celebrate the immense potential that women hold.



During this gathering, Nutun also introduced a transformative educational and empowerment initiative aptly named NEW – Nutun Empowered Women. NEW stands as a remarkable effort geared towards propelling the careers of female employees across the organization.



Introducing Nutun’s Women’s Day Event



The event began with a address by Dineo Sekwele, Nutun&#8217;s Group HR Executive. Sekwele urged attendees to embrace challenges as avenues for personal growth, emphasizing that individual backgrounds do not limit future possibilities.



Launching the NEW Program



Sekwele explained that this new initiative was born out of Nutun&#8217;s workforce demographic, which is 75% women, and the company&#8217;s commitment to gender equality.



She captured the driving force behind the NEW program: “By investing in the professional growth of our female talent, we aim to empower women within Nutun and inspire other organizations to do the same. Elevating women ultimately fosters progress for all.&#8221;



The program will provide skills-building, group coaching, networking, and other resources to help Nutun&#8217;s women expand their capabilities and advance. Sekwele stressed that achieving gender equity starts internally, and Nutun is dedicated to turning ideals into action.



Fifty women were selected for the inaugural cohort, hailing from areas ranging from junior staff across all areas of the business to middle management. The curriculum was designed with input from partners like Duke Corporate University, recently rated number one worldwide in Custom Executive Education by the Financial Times.


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Words of Encouragement from Nutun’s CEO



John Watling, Nutun&#8217;s CEO, took to the stage to amplify the resounding voices of women. He underscored their profound impact as bearers of strength, intelligence, pioneers in breaking glass ceilings, challengers of stereotypes, natural leaders, and agents of change.



In his eyes, diversity, and inclusion (particularly a women&#8217;s ascent to leadership roles) form cornerstones for organizational prosperity. He encouraged listeners to contribute to the cause of diversity, support, and uplift women to help them realize their boundless potential.



Highlights from the Speakers:



Karen Muller



The event featured keynote speaker Karen Muller, Client Success Advisor from Top Employer. Drawing an analogy between life&#8217;s journey and refueling, Muller encouraged attendees to embrace the belief that they possess the capacity to achieve any aspiration. She emphasized the power of solidarity among women and underscored the essence of mutual support.



Peta Mashinini



Peta Mashinini, a keynote speaker from the International Women’s Forum South Africa (IWFSA), delivered a resonant address, calling for attendees to uplift and support one another. She stressed the importance of intent in everything that one does to achieve your goals and objectives. Mashinini also stressed the importance of gender equality and how we need to ensure we do not leave behind the men while we strengthen the women of tomorrow. The event showcased IWFSA’s achievements, with a special focus on their mentorship program dedicated to empowering women leaders.



Sharing Our Narratives of Success


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<figure class="alignleft size-large is-resized"><img loading="lazy" decoding="async" src="https://cms.forbesafrica.com/wp-content/uploads/2023/09/IMG-20230830-WA0010-1024x682.jpg" alt="" class="wp-image-59522" style="width:473px;height:314px" width="473" height="314" srcset="https://cms.forbesafrica.com/wp-content/uploads/2023/09/IMG-20230830-WA0010-1024x682.jpg 1024w, https://cms.forbesafrica.com/wp-content/uploads/2023/09/IMG-20230830-WA0010-300x200.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2023/09/IMG-20230830-WA0010-768x512.jpg 768w, https://cms.forbesafrica.com/wp-content/uploads/2023/09/IMG-20230830-WA0010.jpg 1280w" sizes="(max-width: 473px) 100vw, 473px" /></figure></div>


A captivating panel discussion united Aline Kruger, COO of Nutun’s Transact Division, Tanya Grota, the Nutun Group CFO and Sekwele, each one sharing their unique journey to success. The panel was facilitated by Nutun’s Special Projects Executive, Mmule Sapula.



The golden thread highlighted from this panel is that each woman has her own journey and it&#8217;s so important to recognize the hard work, dedication, sacrifice and motivation one must make to achieve success. Another theme that arose is the importance of holistic well-being – physical, mental, and emotional health are all linked and are factors that can keep you strong and motivated in life. Sekwele&#8217;s unyielding resolve to surmount obstacles resonated deeply, reminding everyone that resilience, determination, and seeking help when needed are the keys to triumph.



The second panel, facilitated by Elizabeth Govender, Executive Talent, and Learning &amp; Development, looked at the importance of investing in yourself and others and how this paves your pathway to success. Stories of development and success were heard from some of the up-and-coming female leaders at Nutun.



Final Words



The event concluded with a reflection from Winsome Manson, Executive in Business Development, who highlighted the significance of empowerment.



Winsome noted that the participants were surrounded by intelligent and phenomenal individuals, setting the stage for future leaders. Her closing remarks resonated deeply, reinforcing the notion that success is a product of personal actions, continuous learning, and resourcefulness.

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Empowering Women Through Transformational Education And Elevation

Over the past two decades, Nigeria’s banking sector has undergone a remarkable transformation, with technological advancements reshaping customer interactions and touchpoints. Today, the number of youths visiting bank branches can be counted on a single hand, as social media platforms have become more accessible and convenient channels for communication. This digital era has made social media an integral part of people’s lives, presenting an opportunity for Nigerian institutions to adapt to this paradigm shift. Embracing personalized banking solutions on social media is crucial for maintaining relevance and enhancing productivity.



The Evolving Landscape



Physical bank branches are witnessing a footfall decline as customers prefer the convenience of interacting with banks through social media platforms. To keep up with these changes, Nigerian institutions have begun leveraging social media handles on platforms such as Facebook, Instagram, and Twitter. This presence allows them to promote their brand, enhance visibility, cater to customers’ needs, offer real-time banking services, and keep customers informed about the latest developments.



Embracing Technological Advancement



With the rise of cryptocurrencies and alternative financial solutions, banks must act as financial facilitators to promote generational wealth and progress. This entails realigning their goals and objectives to embrace the inevitable transformation of the banking system.



Personalized Banking Via Social Media



Direct engagement with customers and potential clients on social media has the potential to revolutionize the banking industry’s approach. Participating in events like fashion shows, sports and athletic competitions, art exhibitions, concerts, and more can foster strong connections and enhance brand loyalty.



Effective Social Media Marketing Strategies



To excel in social media marketing, banks must focus on these key areas:



<ol type="1">
<li>Understanding the Market:</li>
</ol>



Markets are constantly evolving and never remain the same. Staying abreast of market trends, consumer preferences, and insights is crucial for banks to modify and develop their offerings accordingly. One can accomplish higher sales or give sales a major boost by promoting the services and products offered to prospective customers, however, permanent growth requires continuous refinement based on insights.



2) Leveraging Influencers:



Building a brand from scratch demands time and consumer trust. A key strategy for expanding the brand’s reach is to find influential personalities who have a large and active social media base. These may include fashion icons, film actors, athletes, celebrities, journalists,&nbsp; artists, and more. Leveraging their influence, these individuals can act as brand ambassadors, effectively marketing the brand to their followers and potentially changing their opinions which can further amplify the bank’s brand reach and credibility.



3) Competitor Analysis:



Monitoring competitors’ online activities offers insights for innovation and refining marketing strategies. Monitoring online conversations about competitors’ products, campaigns, and more offers invaluable insights. Analyzing competitor activities on social media can provide valuable insights to develop innovative marketing strategies. As the business landscape evolves, staying ahead necessitates constant monitoring of the digital sphere and utilizing the data to refine our approach and engage with customers more effectively.



4) Promoting Engagement:



Creating engagement platforms like fashion shows, sports events, mentorship/empowerment and talent programs encourages audience interaction and dynamic marketing approaches. These initiatives encourage active audience involvement and interaction, fostering a more dynamic and effective marketing approach.



Customer-Centric Approach



Customer feedback and reviews on social media informs content tailored to specific segments, enhancing digital outreach and customer engagement. To thrive in this environment, businesses must be attentive to what consumers are saying about them. Conducting customer satisfaction surveys and seeking feedback are crucial practices in this regard. The views and sentiments expressed on social media about a company play a significant role in its growth and can be used to improve existing products or design new ones to cater to specific needs.



Understanding customer requirements is paramount. Banks must target key audiences with relevant content at every stage of their customer journey. Digital channels offer cost-effective means to approach potential customers with precision. Customers can now create accounts and apply for loans using their mobile devices while at work, making digital outreach essential.



Social media plays a crucial function in marketing banking services. With improved advertising and compliance support, banks have ample opportunities to establish meaningful connections and attract targeted audiences, thus achieving their business objectives. Given the ubiquity of social media, it should be an integral part of a bank’s overall marketing strategy as it allows for the establishment and cultivation of valuable relationships with customers. Embracing social media’s potential can lead to enhanced engagement and long-term customer loyalty.



In Conclusion



Amid globalization and competition, allocating a budget for social media marketing or establishing one is imperative. Adopting a long-term approach to building a strong and engaged customer base makes social media a mutually beneficial strategy for all parties involved. As consumer behaviors evolve, a robust social media presence is vital for relevance and competitiveness.



In the current landscape, social media offers protection against various forms of misuse by providing privacy policies, terms of service, and technical functionalities that cover everything from safeguarding confidential content to tackling illegal activity and offensive behavior. To ensure further protection, these rules can be prominently displayed in designated sections of the bank’s social media profiles and on their official website.



By embracing social media with a well-structured approach and adhering to best practices, banks can enhance their outreach, engage customers more effectively, and build a positive brand reputation in the digital space. As consumer behaviors continue to evolve, maintaining a strong social media presence becomes increasingly vital for staying relevant and competitive in the banking industry. Embracing personalized banking solutions through social media is imperative for Nigerian institutions to enhance productivity and retain relevance in an ever-changing world.



By investing in social media marketing and engaging with customers effectively, banks can establish strong relationships, cultivate loyalty, and foster long-term growth. As the digital landscape evolves, social media will continue to be a critical component of a successful bank’s marketing strategy.



Nnenna Kayode-Lawal is an accomplished Head of Corporate Bank with diverse experience in Corporate Finance, Investment Banking, Commercial/Retail Banking, Banking Operations, Business Strategy, Financial Analysis and Marine Financing.



She graduated from University of Nigeria Nsukka, Alumna of University of Cambridge, University of Leicester and University of California, Berkeley HAAS School of Business. &nbsp;She is a Transformation and Executive Coach with 24 years experience in the Banking Industry.



She is passionate about empowering the youth and women. As a wife and mother of two lovely daughters, she is committed to driving positive change in the banking sector.

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The Need For Nigerian Banks To Operate A Personalized Banking System Through The Use Of Social Media

Ongoing volatility in global financial markets, primarily driven by the lingering effects of the Covid-19 pandemic, as well as geopolitical events and sustained turbulence, has intensified market instability. As a result, a growing number of ultra-high net worth (UHNW) families are reassessing their investment strategies, risk management approaches, and portfolio allocations to ensure long-term financial stability for current and future generations.



First conceived in the mid to late 1800s by the Morgan and Rockefeller families to manage, grow, and preserve their wealth, family offices today have an increasingly vital role to play in helping UHNW families navigate this turbulent and complex global financial landscape.



In South Africa, increasing numbers of UHNW families are turning to family offices to reassess their investment strategies, risk management approaches, and portfolio allocations as they look to develop strategies to protect assets and mitigate risks, and ensure the long-term financial stability of the family unit –both current and future generations.



Among the most valuable aspects of family offices is their ability to stay up-to-date on the latest trends. A report by UBS and Campden Wealth Research revealed that 62% of family offices are using Artificial Intelligence (AI) currently, or are planning to at some point in the future. AI has enormous potential to augment their operations in a rapidly changing world. Additionally, there is a growing interest in alternative asset classes like biotech.



In South Africa, UHNW families are also turning to private equity to diversify their investment portfolios, preferring direct investment into Private Equity (PE) opportunities rather than PE-related funds, especially when they want to have control or influence over the business. Family offices play a vital role in identifying suitable PE opportunities by scouting different markets and sectors.



Environmental, Social &amp; Governance (ESG) is another noteworthy asset class that is well-established in the wealth management sector in the USA and Europe. Its adoption is still in the early stages in South Africa, and family offices have the potential to contribute to the acceptance of ESG and promote its application.



Looking to digital assets, the collapse of FTX and the sharp decline in Bitcoin’s price have reinforced skepticism towards crypto assets due to their volatility. Family offices focused on wealth preservation may still con- sider investing in cryptocurrencies too risky. However, crypto assets are now classified as financial products, and regulated by South Africa’s Financial Sector Conduct Authority, which may contribute to increased acceptance of digital assets in the country. By assessing the suitability of crypto assets within the risk parameters and investment strategies of the families they represent, family offices have a key advisory role to play.



In the aftermath of the pandemic, many UHNW families are increasingly motivated to make a difference, whether through direct involvement or indirect means. One notable trend among families operating family offices is their desire to witness tangible impact and engage personally, rather than simply making monetary donations to charitable causes. Philanthropy can manifest in various ways, and the role of family offices in suggesting the most appropriate structures or avenues for engagement remains crucial.



Following local unrest, instability, power outages, and South Africa’s grey-listing by the Financial Action Task Force (FATF), many ultra-wealthy families in South Africa are choosing to externalize their family wealth, primarily to the UK and Europe, as they prepare for potential offshore relocation or formal emigration. The role of family offices is to help families make informed decisions. They also have the expertise to design multi-jurisdictional strategies for wealth and asset distribution, ensuring that legal and tax considerations are thoroughly addressed to minimize potential risks and vulnerabilities.



For family offices, the adoption of hybrid working models has increased willingness to conduct virtual meetings, resulting in shorter response times and improved participation. Conferences and seminars now often offer both in-person and virtual attendance options, allowing family offices to connect with counterparts and service providers more easily. Greater opportunity for participation in local and international events also increases their exposure to global trends.



These trends point to the increasingly-important role financial offices play today and into the future, in preserving wealth, facilitating multigenerational wealth transfer, promoting family governance, and providing strategic guidance. By staying abreast of the latest trends and leveraging their resources, family offices continue to support the long- term success, growth, and legacy of wealthy families around the world.


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<figure class="aligncenter size-large is-resized"><img loading="lazy" decoding="async" src="https://cms.forbesafrica.com/wp-content/uploads/2023/08/Standard-Bank_Logo_Horizontal_Full-Colour_CMYK-horizontal_Standard-Bank_Logo_Horizontal_Full-Colour_CMYK-1024x323.png" alt="" class="wp-image-59341" style="width:562px;height:177px" width="562" height="177" srcset="https://cms.forbesafrica.com/wp-content/uploads/2023/08/Standard-Bank_Logo_Horizontal_Full-Colour_CMYK-horizontal_Standard-Bank_Logo_Horizontal_Full-Colour_CMYK-1024x323.png 1024w, https://cms.forbesafrica.com/wp-content/uploads/2023/08/Standard-Bank_Logo_Horizontal_Full-Colour_CMYK-horizontal_Standard-Bank_Logo_Horizontal_Full-Colour_CMYK-300x95.png 300w, https://cms.forbesafrica.com/wp-content/uploads/2023/08/Standard-Bank_Logo_Horizontal_Full-Colour_CMYK-horizontal_Standard-Bank_Logo_Horizontal_Full-Colour_CMYK-768x242.png 768w, https://cms.forbesafrica.com/wp-content/uploads/2023/08/Standard-Bank_Logo_Horizontal_Full-Colour_CMYK-horizontal_Standard-Bank_Logo_Horizontal_Full-Colour_CMYK-1536x484.png 1536w, https://cms.forbesafrica.com/wp-content/uploads/2023/08/Standard-Bank_Logo_Horizontal_Full-Colour_CMYK-horizontal_Standard-Bank_Logo_Horizontal_Full-Colour_CMYK-2048x645.png 2048w" sizes="(max-width: 562px) 100vw, 562px" /></figure></div>

11276 STB WI Forbes_ Header Banner_V06_FA

Navigating Post-Pandemic Trends In The Family Office Industry

Over the centuries, the existence of billionaires and business moguls is proof that real estate is a surefire way of achieving the kind of success that puts one in the comity of billionaires. Yet, few understand the dynamics of dabbling in real estate for investment purposes. Those who do know are also not willing to share that knowledge for a myriad of reasons. This is one of the many attributes that stand out with Dr Stephen Akintayo, Chairman, Gtext Holdings and founder of the Stephen Akintayo Foundation.



Seemingly young for his mammoth achievements, a recent award has garnered him renewed appeal in the global real estate and investment circles, but also, it has warranted a cursory look into his background and how he became the global real estate mogul he is today.



In shining a light on his life’s journey so far, one must spotlight his humble beginnings in Maiduguri, Nigeria where he had no access to the basic amenities of modern existence. This however did not restrict his ability to dream big, neither did it belay his personal achievements or the giant strides of his conglomerate, Gtext Holdings.



Blessed with a unique vision and insight, Akintayo started his company 15 years ago with approximately $1. Unlike the average entrepreneur, he did not enter business with the mindset of simply making money. Instead, like a humanitarian, he went into business with the idea to revolutionize the real estate market and grow his Nigerian business into a global business model.



Today, he has achieved all this and more with a visible impact on countries around the world.



Not only does Gtext Holdings do business in West Africa, its operations range across Europe, North America, and the Middle East.



In the last five years, his vision has become even more structured with his ‘Vision 2035’ – an initiative that would see Gtext Homes, a subsidiary of Gtext Holdings, successfully build 25,000 green and smart homes by 2035. Already, the company has launched its 1,000 homes drive, with part of the proceeds channeled towards the support of SMEs through diverse initiatives.



In line with ‘Vision 2035’ is the launch of the Jasper Estates in Lagos and Abuja last year, at the double event, realtors, young developers, marketers, clients, and those merely curious about the activities of Gtext Homes were taken on a tour of the two estates in Abuja and Ibeju-Lekki, Lagos.



Of course, for many in Nigeria, it was an opportunity to see the green and smart housing promised by Akintayo. Currently selling the available sets of two-bedroom luxury terrace duplexes, Gtext has started the journey into the future of real estate in Africa, and the world is watching.



Unlike the myriad of real estate companies that litter the country with advertorial billboards and fliers with the promise of affordable housing in exchange for pittance and piecemeal payments, Akintayo keeps it real with his customers.



In an interview with journalists who embarked on a private tour at the open house event held at the Jasper Smart City Housing Scheme in Ibeju-Lekki, Lagos, Akintayo stated that what Gtext brings to the global real estate market is accessible and sustainable housing as opposed to unachievable affordability. He revealed that affordability has nothing to do with private developers but everything to do with the government and the policies of the government.



In several investment classes held over the years for budding investors and entrants into the real estate market, he has repeatedly shared his wealth of knowledge to ensure that others do not make avoidable business mistakes because of a lack of knowledge.



Today, Africans and others in the diaspora are getting a taste of the real estate market in the motherland, while those residents in Africa can also legally own property through legitimate means, all because of the functional business model Gtext operates.



Already a leading voice in the African real estate sector, he has begun to push for better systems that allow for promising entrants into the sector, including a recent call on government to initiate a first-time buyer policy in the real estate sector in Nigeria to bridge the country’s housing deficit, which is currently estimated to be about 20 million.



According to him, such a policy will allow both the Central Bank of Nigeria (CBN) and the Federal Government to stand as guarantors for anybody that requires a house, and developers can then provide between five to 10% on lenders’ first housing; the government would bring in 20%, and the lenders can bring in the remaining 70%.



In many interviews granted in the last two years in African media, Akintayo’s Gtext has been described as the ‘future of sustainable housing’, and the African face of real estate investment.



As an investment coach, he repeatedly puts his money where his mouth is. Through one of Gtext Holdings&#8217; subsidiaries, Gvest, he has rolled out a fractional investment opportunity in African real estate. A first of its kind in Africa, the plan is to raise $100 million through a digital cooperative model to build green and smart housing in some African countries, all in line with ‘Vision 2035’.



One of Dr Akintayo’s more popular quotes over the years is, “Money is always there to be made. The problem is the risk level, and the best way to overcome the risk factor is having a mentor in that field of business and a partner.”



For many of his mentees, these are words on marble that they have run with, and a sizeable number of them have returned with testimonials of excellence, testimonials that have become a plinth for the ‘Forbes Best of Africa Leading Investment Coach and Real Estate Mogul’ award to rest on.



Forbes Best of Africa nominated and awarded him as a ‘Forbes Best of Africa Leading Investment Coach and Real Estate Mogul’ at an event which took place in July in London, after which he embarked on his Africa book signing tour for his ‘Billionaire Habits’ book series.

IMG-20220413-WA0082

Creating Sustainable Real Estate Investment in Africa

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https://native-ads-two.vercel.app/standard-bank-woman-in-tech

Why She Leads

The country is making its mark in the field of IT, positioning itself as a significant player on the African continent. With an estimated GDP growth of <a href="https://www.afdb.org/en/countries-east-africa-tanzania/tanzania-economic-outlook">6.3% in 2024</a>, the country is undergoing an ICT digital transformation that promises to drive further economic growth.



The expansion of network coverage, the introduction of high-speed internet services, and the establishment of a <a href="http://www.nictbb.co.tz/">National ICT Broadband Backbone </a>have laid a solid foundation for the country’s digital future. This interview with Nape Moses Nnauye, the <a href="https://www.mawasiliano.go.tz/">Minister of Information and Technology in Tanzania</a>, offers insights into his visionary leadership and his determination to make Tanzania a technological powerhouse in Africa.



<ol type="1" start="1">
<li>Can you introduce yourself and tell us about your role as the Minister of Information and Technology in Tanzania?</li>
</ol>



My name is Nape Moses Nnauye. I’m a Member of Parliament for the Mtama constituency in Lindi region, Tanzania, bordering Mozambique. With more than 21 years of experience in national and international politics, I serve as the Minister for Information, Communication, and Information Technology. In my role, I oversee policy formulation and implementation in various areas, including information, telecommunications, IT and postal services, mass media coordination and regulation, research development and innovation in ICT, ICT professional development, establishment of post codes and addressing system, national ICT broadband backbone, and safety and ICT security.



<ol type="1" start="2">
<li>What motivated you to pursue a career in information and technology, and how did you get started in this field?</li>
</ol>



As a politician, I embraced the social capital of social media, igniting my interest in information technology. Despite lacking a professional IT background, I was inspired by its contagiousness and future prospects, fueling my passion. Now as the Minister of ICT, I drive the widespread adoption of ICT, contributing to Tanzania&#8217;s digital economy.



<ol type="1" start="3">
<li>How do you think advancements in technology can drive economic growth and social development in Tanzania?</li>
</ol>



ICT fuels Tanzania&#8217;s economic growth through expanded network coverage, enabling high-speed internet, mobile broadband, e-commerce, and e-government, creating economic opportunities for enhanced communication, information access, and cultural exchange.



<ol type="1" start="4">
<li>What are some of the major challenges facing the information and technology sector in Tanzania currently, and how do you plan to address them?</li>
</ol>



A dedicated content committee raises awareness on issues on false information and limited broadband access. Acts like the Cybercrimes Act, E-Transactions Act, and the recent Personal Data Protection Act of 2022 address technology challenges. Our National Cybersecurity Strategy and ongoing ICT awareness initiatives combat cybercrimes and bridge the digital divide, while soft centers under the Digital Tanzania Programme reduce foreign technology dependency and foster skilled labor.



<ol type="1" start="5">
<li>What are some of the key initiatives or policies you have implemented to promote the adoption and use of technology in Tanzania?</li>
</ol>



These are the National ICT Policy 2016, National Broadband Strategy, National Digital Economy Framework, National Cybersecurity Strategy, Enactment of the Personal Data Protection Act of 2022, and Development of the National Guideline to Regulatory Sandbox Framework.



<ol type="1" start="6">
<li>How do you ensure that access to technology is equitable and inclusive, particularly for marginalized communities?</li>
</ol>



We prioritize inclusivity, considering diverse groups such as gender, people with special needs, and fair treatment across ethnic categories. Our Universal Communication Services Access Fund (UCSAF) ensures technology access for underserved areas, while bridging the digital divide.



<ol type="1" start="7">
<li>Can you share a specific example of a successful technology project or program that you have implemented in Tanzania?</li>
</ol>



Video conference systems that enable remote participation in meetings for regional commissioners and central ministries. Also, the National Physical Addressing (NaPA) system ensures accurate navigation and robust e-commerce infrastructure.



<ol type="1" start="8">
<li>How do you balance the need for innovation and progress with concerns around data privacy and cybersecurity?</li>
</ol>



Tanzania&#8217;s cybersecurity legislations, including the Cybercrimes Act, E-Transactions Act and Personal Data Protection Act protect data privacy and [promote] cybersecurity, while the Digital Economy Framework focuses on innovation and human capital development, addressing data privacy and cybersecurity concerns.



<ol type="1" start="9">
<li>What is your vision for the future of the information and technology sector in Tanzania?</li>
</ol>



It is to build an ICT-enabled knowledge society and a highly developed digitally-enabled economy in a secure and trusted cyberspace, which would make Tanzania an attractive destination for investment and innovation.



<ol type="1" start="10">
<li>How do you collaborate with other government officials, stakeholders, and international partners to achieve your goals?</li>
</ol>



Holistic stakeholder involvement is crucial for the ICT sector&#8217;s effectiveness. We prioritize extensive consultations with diverse stakeholders, including government agencies, private sector, civil society, NGOs, donor partners, and the international community.



<ol type="1" start="11">
<li>How do you support and encourage the growth of the local tech industry in Tanzania?</li>
</ol>



Our National ICT Policy focuses on nurturing Tanzania&#8217;s tech industry. We collaborate with the Tanzania Start-up Association to support startups and address their challenges through targeted policy interventions. The Regulatory Sandbox Framework guideline fosters the growth of ICT solutions with sector-specific regulatory sandboxes.



<ol type="1" start="12">
<li>What are some of the latest technology trends that you believe will have a significant impact on Tanzania&#8217;s economy and society?</li>
</ol>



Our National Digital Economy Framework embraces key technologies of the Fourth Industrial Revolution: cybersecurity, cloud computing, and AI. They yield significant benefits in healthcare, energy, education. We also focus on research and investment in emerging technologies like 3D printing, augmented reality, IoT, and blockchain.



<ol type="1" start="13">
<li>How do you ensure that Tanzania keeps up with the pace of technological change and remains competitive globally?</li>
</ol>



I coordinate continuous training of my staff and the local workforce in digital technology skills. We actively seek partnerships with Regional Economic Communities, international organizations and technologically-advanced countries.



<ol type="1" start="14">
<li>What are some of the key lessons you have learned during your time as the Minister of Information and Technology?</li>
</ol>



I focus on grasping public sentiment and industry needs to drive digital economy growth, while countering misconceptions and safeguarding the government&#8217;s image through active public engagement.



<ol type="1" start="15">
<li>How do you engage with the public to gather feedback and ensure that your policies are meeting their needs and expectations?</li>
</ol>



I advocate an open-door policy, encouraging input from staff, constituents, and citizens via multiple channels. Suggestion boxes in ministry offices gather feedback on services and staff interactions, while regular evaluations and quarterly reports ensure projects meet public and stakeholder needs.



To sum up, Nape Moses Nnauye reveals his unwavering commitment to driving Tanzania&#8217;s digital future by focusing on technology and its transformative capabilities. Guided by comprehensive government policies, strategies and strong collaborations, Tanzania has set ambitious goals for technology adoption and digital transformation. By striking a balance between innovation and protection, Tanzania creates a conducive ecosystem for technology-driven growth, setting the potential for further development of the African continent.

WhatsApp Image 2023-08-08 at 10.18.31 AM

Driving Tanzania’s Digital Future

The Radisson Blu Hotel &amp; Convention Center in Kigali is just 5km from the bustling city center and Kigali International Airport (KGL). Our contemporary hotel offers you all the comforts and amenities that you’ve come to enjoy and expect from a world-class hotel.



Chic Accommodation, Excellent Amenities And Flexible Event Spaces


<div class="wp-block-image">
<figure class="alignleft size-large is-resized"><img loading="lazy" decoding="async" src="https://cms.forbesafrica.com/wp-content/uploads/2023/08/2019-05-rhg-kglzh-062542-1024x748.jpg" alt="" class="wp-image-59169" style="width:490px;height:358px" width="490" height="358" srcset="https://cms.forbesafrica.com/wp-content/uploads/2023/08/2019-05-rhg-kglzh-062542-1024x748.jpg 1024w, https://cms.forbesafrica.com/wp-content/uploads/2023/08/2019-05-rhg-kglzh-062542-300x219.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2023/08/2019-05-rhg-kglzh-062542-768x561.jpg 768w, https://cms.forbesafrica.com/wp-content/uploads/2023/08/2019-05-rhg-kglzh-062542-1536x1123.jpg 1536w, https://cms.forbesafrica.com/wp-content/uploads/2023/08/2019-05-rhg-kglzh-062542-2048x1497.jpg 2048w" sizes="(max-width: 490px) 100vw, 490px" /></figure></div>


Our hotel in Kigali, which is located only 2km away from various government embassies, the Parliament, and the Supreme Court of Rwanda, has 291 rooms and suites, each with a private balcony and free high-speed Wi-Fi. You can enjoy continental and Rwandan dishes, as well as the super breakfast buffet, at our two on-site restaurants, one of which offers all-day dining.



If you’re looking for a light snack or a refreshing drink, the Lounge Bar is the perfect spot. We also have 650 parking spaces available. After a busy day exploring Kigali, you can keep up with your fitness routine in our fitness center and wellness spa, or unwind in the outdoor swimming pool.



Meetings And Events


<div class="wp-block-image">
<figure class="aligncenter size-large is-resized"><img loading="lazy" decoding="async" src="https://cms.forbesafrica.com/wp-content/uploads/2023/08/2019-05-rhg-kglzh-065179-1024x768.jpg" alt="" class="wp-image-59168" style="width:530px;height:398px" width="530" height="398" srcset="https://cms.forbesafrica.com/wp-content/uploads/2023/08/2019-05-rhg-kglzh-065179-1024x768.jpg 1024w, https://cms.forbesafrica.com/wp-content/uploads/2023/08/2019-05-rhg-kglzh-065179-300x225.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2023/08/2019-05-rhg-kglzh-065179-768x576.jpg 768w, https://cms.forbesafrica.com/wp-content/uploads/2023/08/2019-05-rhg-kglzh-065179-1536x1152.jpg 1536w, https://cms.forbesafrica.com/wp-content/uploads/2023/08/2019-05-rhg-kglzh-065179-2048x1536.jpg 2048w" sizes="(max-width: 530px) 100vw, 530px" /></figure></div>


Located next to the Radisson Blu Hotel &amp; Convention Centre, the Kigali Convention Centre (KCC) offers a spacious area of 32,200 square meters for various business, leisure, and event activities. With 20 meeting spaces equipped with the latest technology and AV equipment, including a state-of-the-art auditorium that can accommodate up to 2,600 guests for weddings or professional business meetings, KCC is the perfect venue for a successful event.



Restaurants And Bars


<div class="wp-block-image">
<figure class="alignright size-large is-resized"><img loading="lazy" decoding="async" src="https://cms.forbesafrica.com/wp-content/uploads/2023/08/2019-05-rhg-kglzh-064182-1024x614.jpg" alt="" class="wp-image-59167" style="width:502px;height:301px" width="502" height="301" srcset="https://cms.forbesafrica.com/wp-content/uploads/2023/08/2019-05-rhg-kglzh-064182-1024x614.jpg 1024w, https://cms.forbesafrica.com/wp-content/uploads/2023/08/2019-05-rhg-kglzh-064182-300x180.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2023/08/2019-05-rhg-kglzh-064182-768x461.jpg 768w, https://cms.forbesafrica.com/wp-content/uploads/2023/08/2019-05-rhg-kglzh-064182-1536x921.jpg 1536w, https://cms.forbesafrica.com/wp-content/uploads/2023/08/2019-05-rhg-kglzh-064182-2048x1228.jpg 2048w" sizes="(max-width: 502px) 100vw, 502px" /></figure></div>


Our hotel has a wide array of dining options, with two bars and two restaurants to choose from. To start your day off right, enjoy a delectable breakfast buffet at the Larder. After exploring the city, end your day with an authentic Italian meal at Filini. If you’re in the mood for traditional Rwandan cuisine or continental favorites, the Larder has got you covered.



The Lounge is the perfect place to unwind with a drink, and features a cozy atmosphere with extensive operating hours. For those looking to meet up with friends and enjoy some delicious pub fare and cocktails, check out Piazza Bar, a stylish spot.

raddisnblu& kcc

A Stylish And Accessible Conference Hotel In Rwanda’s Capital

Considered the most entrepreneurial continent in the world, Africa is also home to the highest proportion of women entrepreneurs globally, with 58% of the continent’s self-employed population being women, who contribute some 13% of Africa&#8217;s total GDP.



According to the 2022 Mastercard Index of Women Entrepreneurs, South Africa is one of only 12 economies across the globe where women&#8217;s entrepreneurial activity rates increased during the previous year, despite the impact of Covid-19. “The growth of this sector and its potential has not gone unnoticed by Access Bank, and we are committed to advancing entrepreneurship – especially ‘Womenpreneurs’ – to continue encouraging what Access Bank South Africa sees as the country’s economic backbone,” says Sugendhree Reddy, CEO of Access Bank South Africa.



It was with this in mind that two large and well-loved local brands &#8211; Jacaranda FM and Access Bank South Africa, came together to provide a broad platform to businesswomen in South Africa in the form of a competition called ‘Womenpreneur – Her Perfect Pitch’, offering prizes to the value of approximately R2 million (approximately $107,000) in business assistance during Women’s Month, August 2023.



Deirdre King, Managing Director at Jacaranda FM emphasizes the importance of women supporting and learning from one another. Deirdre encourages businesswomen to uplift and inspire their peers while confidently claiming their rightful space in the entrepreneurial space. “This campaign drives tangible business and marketing assistance, layered with access to mentorship for the finalists. Last year, our finalists shared that the transfer of knowledge and experience from women leaders within Jacaranda FM and Access Bank was the most coveted part of this magnificent prize,” says King.



This high-profile event shows both brands’ commitment to women in the entrepreneurial space in South Africa, with ‘Womenpreneur &#8211; Her Perfect Pitch’ offering priceless and life-changing business experience for the winners.



The entrants’ experience will encourage other women to reach for the stars, while enabling Access Bank to tap into a diverse pool of talented and driven female entrepreneurs, potentially identifying promising investment opportunities or forging long-term business relationships.



Crossing the great divide



The bank&#8217;s commitment to nurturing the growth of local businesses and contributing to economic development in South Africa is seated in the knowledge that the country is “talent-rich but fiscally needful”, according to Sugendhree.



The World Economic Forum (WEF’s) 2022 Gender Gap Report noted that it would take a shocking 151 years to close global economic gender gaps without a massive and speedy change.



“Solutions must come from the corporate and private sectors who have the wherewithal to advance female employment, and we believe that creating opportunities like ‘Womenpreneur – Her Perfect Pitch’ are important stepping stones to generating enthusiasm among entrepreneurs and providing a platform for finance and business knowledge,” says Reddy. 



&nbsp;HOW TO ENTER



<ol type="1">
<li>Head on over to <a href="https://southafrica.accessbankplc.com/womenpreneur/" target="_blank" rel="noreferrer noopener">JacarandaFM.com</a> to enter electronically from 1 to 31 August 2023.</li>



<li>Complete the form and upload your documents.</li>



<li>If you are successful, you will be notified that you are in the Top 30 Womenpreneurs and invited to a breakfast networking event with a special guest speaker.</li>



<li>The Top 10 successful women will be invited to the judging event that will take place on 19 October in the pitching den.</li>
</ol>



Winners will be announced at a gala event to be held in November. Jacaranda FM and Access Bank South Africa are looking forward to seeing the pitches of the special and vital part of the South African economy, Womenpreneurs.

Womenpreneur Her Perfect Pitch 2023_PR-02

Women Get Opportunity To Pitch Their Plan And Close The Pay Gap

Africa is young, vibrant and full of potential for rapid economic growth. All it requires is increased and sustainable investment in human capital.



Africa’s young people are energetic and ambitious. As the most connected generation of Africans in history, they hold the key to unleashing greater productivity and propelling the economic trajectory of the continent – if they are healthy, educated, and skilled. The African Human Capital Heads of State Summit that took place last week brings this timely opportunity to the forefront. Here’s why we must act now.



By 2075, one out of three people of working age will be African. Africa is the only region in the world where the workforce will continue to grow in the coming decades – with the working-age population expected to grow by 450 million by 2035. With quality education and relevant skills, this growth in human potential gives Africa an enormous opportunity to supercharge economic growth and achieve greater prosperity for billions of people in the continent.



To realize this accelerated and sustained growth, as seen in prior decades in regions such as East Asia, countries must invest in their human capital – the knowledge, skills, and health that people accumulate over the course of their lives. Today, African countries must make concerted and sustained efforts in an integrated and collaborative way to overcome steep challenges – exacerbated by the impact of conflict, Covid-19, and climate change.



The continent continues to battle a learning crisis. Sub-Saharan Africa has over 100 million out-of-school children, the highest rate in the world. Many of those in school are falling behind on key learning indicators: reading, writing, and basic math. The percentage of 10-year-olds that are unable to read and understand a simple text is projected to be approaching 89% following the Covid pandemic.



As leaders, we have a window of opportunity to invest in Africa’s young people through better health, nutrition, and education – and working closely with the continent’s growing private sector to connect them with more and better jobs – so youth can become an engine for inclusive and sustained economic growth. Rallying more resources and making timely investments to strengthen education and health systems will help improve services and increase opportunities and productivity. This is key for breaking cycles of poverty, achieving a demographic dividend, and unlocking the region’s enormous economic potential.



There are many promising examples of countries in the region making efforts that are seeing promising results. In Tanzania, the BOOST Primary Education Learning Program is improving the quality of education and teaching for 12 million students, with a focus on girls – as well as the marginalized and vulnerable. Nigeria’s Edo State has enhanced its digital education system, creating 7,000 virtual classrooms and training more than 11,000 teachers. Africa Centers of Excellence Project (ACEs) is delivering quality higher education training that fulfills skills requirements in demand by employers on the continent and abroad. These efforts can and must be scaled up and replicated, tailoring them to the unique needs of the different contexts.



Accelerating progress requires sound policies and coordination, supported by robust funding. To accelerate productivity and incomes, governments should quickly implement effective strategies for learning recovery – with greater investments in education, skills, and job creation. The funding must also be used effectively and efficiently – measured by stronger services and a healthier, and more skilled population that can create and take on jobs of today and the future.



However, much more remains to be done. Addressing these challenges and accelerating human capital progress will require strong country and regional commitment, combined with close collaboration with development partners and catalyzing the private sector&#8217;s potential.



The <a href="https://www.worldbank.org/en/events/2023/07/25/africa-human-capital-heads-of-state-summit">Africa Human Capital Summit</a>, which took place from July 25 to 26 in Dar es Salaam, Tanzania, convened leaders from 43 African countries to make commitments on this pressing priority. As signatories of the <a href="https://documents1.worldbank.org/curated/en/099437408012323869/pdf/IDU00fcd4a900d09e0425a0af8c02a2df6c51237.pdf">Dar es Salaam Declaration</a> – born out of the summit – leaders from across the continent agreed to step up efforts to strengthen the quantity, efficiency, and impact of investments in their people. Sub-Saharan Africa scores the lowest of all the world’s regions on the World Bank’s <a href="https://dataviz.worldbank.org/t/DECDG/views/HCPdashboard/HCI2020?%3Aembed_code_version=3&amp;%3Aembed=y&amp;%3AloadOrderID=0&amp;%3Adisplay_spinner=no&amp;%3AshowAppBanner=false&amp;%3Adisplay_count=n&amp;%3AshowVizHome=n&amp;%3Aorigin=viz_share_link">Human Capital Index (HCI),</a> yet faces a youth bulge that could be leveraged to supercharge African economies if the right policies and investments are implemented today.



The Dar es Salaam Declaration constitutes tangible financial and policy commitments made by African leaders to prioritize investing in people with a focus on reaping a demographic dividend.



Accelerating action together in building Africa’s human capital is an urgent priority. The continent’s future depends on it.



Let&#8217;s invest today in the next generation to transform Africa towards greater prosperity on a livable planet.



By President Samia Suluhu Hassan, United Republic of Tanzania; Victoria Kwakwa, World Bank Vice President for Eastern and Southern Africa and Mamta Murthi, World Bank Vice President for Human Development

20110802-Tanzania-Hoel-0577 (1)

‘Invest in Youth, Transform Africa’

Suit Luxe is a suit business specializing in bespoke suits, shirts and shoes. It was founded by Xolisa Mgqubeni, who is originally from a town called Mthatha in the Eastern Cape, South Africa. Mgqubeni then moved to a small township called Khutsong located in Carletonville, in the West Rand during his junior school years, where he lived with his grandmother. This is his story, in his own words.



Growing up I’ve always had an eye for fashion and when I look back today, I’d say it runs in my blood. My late grandfather had his own tailoring operation, my grandmother is a retired seamstress and my mother is a seamstress. I was brought up in a family that has a special relationship with cloth construction; hence I say I believe it’s in my bloodstream.



I have always been obsessed with garments, well-fitted ones to be specific, and I used to despise defective/poorly-constructed clothes. At the tender age of 13, I had already taught myself how to alter clothes and I would alter my school uniform to my desired fit. All the alterations I did were handmade because, unfortunately, I was not allowed to use sewing machines. Both my mother and grandmother are very sentimental when it comes to their sewing machines, so I resorted to handwork.



Fast forward to my tertiary education days, and my love for fashion grew stronger. At this point in my life, I realized that my love for fashion was specific to bespoke suits. Bespoke/custom-made suits are known to be expensive, and because I was still in varsity, I couldn’t afford one so I resorted to ready-made suits. I would stock up on these ready-to-wear suits and alter them to my best fit. A lot of students noticed and loved my suits. I would get approached by a lot of graduation students and because I am a business-minded guy, I decided to start my own suit business instead of telling them where I sourced my suits.



I was the intermediary guy in this case. Graduation students would pay me to source ready-made suits on their behalf and alter them to perfectly fit them. I was obsessed with how a suit should fit, my favorite tagline was: “If you can’t invest in a good quality suit, then invest in a perfect fit”, and that’s how I executed my business back in university.



Now I run my own suit brand, Suit Luxe, specializing in bespoke suits. We are based in Johannesburg, South Africa, and we pride ourselves on our luxury craftsmanship and high-end material from domestic and international textile suppliers.



My brand is making waves, I have dressed some well-known South African stars, the likes of Cassper Nyovest, Zakes Bantwini, Robert Marawa, Happy Jele, Boity Thulo, Nandi Madida and many more.



Suit Luxe has also been receiving amazing traffic from neighboring African countries, which is why we are now launching the brand in Namibia.



We believe that a well-crafted suit from Suit Luxe will give you that ego boost, whether it&#8217;s for showing up at business meetings to secure business deals in style, showing up on your wedding day to complement your beautiful bride or for your day-to-day elegant office/work suits, made of breathable, natural stretch luxurious fabrics.



Our team – from our tailors to our stylists and consultants – is passionate about style and great craftsmanship.

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A Bespoke Suit Business In South Africa’s Luxury Fashion Industry

The scent of home is a comforting one. With Yerwa Secrets, these fragrances become a fusion of select smells that leaves you emanating success.



What is your favourite smell? The earth’s soil after a rainy day? Freshly baked bread? Or maybe it’s the scent of home?



One that leaves you warm and reminds you that you’re safe.



For Fatima Babakura, the aroma of home is what inspired her to launch Yerwa Secrets, a range of incense, body fragrances, and hair mists.



Yerwa is the local name given to the capital city of Babakura’s home state, Maiduguri, located in Borno, North Eastern Nigeria. The name of her brand directly translates to ‘secrets from home’.



“I started the brand to share my culture with the world in a way that people will easily understand, which is through scent because everybody knows what smells good.”


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A MODERN SENSE OF SMELL



Launching a business that plays on the sense of smell was not part of Babakura’s initial plans, as she was originally focused on growing her handbag and shoe business. However, the COVID-19 pandemic forced her to place these plans on hold. During her forced sabbatical, Babakura would spend her time engaging in her family’s tradition of burning incense. Over time, visitors to her home would remark on the aromatic scents.



These remarks soon encouraged Babakura to launch a business that would tantalize our strongest sense, and so in 2021, Yerwa Secrets was born.



A FRESH SCENT



We all know what smells good, but how Babakura selects the scents of Yerwa Secrets all comes down to one thing: curiosity.



“A lot of my inspiration comes from how I feel and my curiosity is what inspires me to play with different scents before creating a specific fragrance.”



The brand only provides products that have been heavily researched and tested to not only smell good, but to also be safe on the skin and hair.



Unlike other local perfume, popularly known as Khumrah, that are packaged in dropper bottles, Yerwa Secrets packages their perfumes in spray bottles, making the act of smelling great that much more convenient.



Additionally, Yerwa Secrets has set out to revolutionize the way incense smells, with their products having scents that go beyond the traditional woody scents associated with incense.



“We’ve made incense that smells like vanilla” shares Babakura.



While there may not be a set method when it comes to incense production in Northern Nigeria, Babakura has faced push-back on production and manufacturing,



“I work with local people and they’re used to doing things a certain way, so it takes a while for them to adapt and understand what you’re trying to achieve.”



While this back and forth has often result- ed in a few mistakes, Babakura has managed to convince the locals about how adapting and evolving can facilitate both personal and professional growth.



COMMUNITY 



Yerwa Secrets isn’t only focused on platforming local scents, but they also believe in using products to protect and build up the community.



In regards to packaging, Babakura and her humble team stay clear of plastic, and rather opt for glass, with consumers receiving discounts when they return the bottles for refills.



This is only part of Yerwa Secrets’ sustainable efforts, as choosing to do everything in-house, sans shipping, allows for them to also pour back into the community.



“Sustainability for us is about how we build our community, as one sale means there’s food on the table for families.”



For instance, Babakura took in a 17-year-old boy to help at the store and the boy grew from handling package deliveries to DHL to being part of the production process and even watching over the business in his employer’s absence.



With plans to launch a physical store in Abuja, Nigeria, where consumers can come and enjoy the different scents that Yerwa Secrets offers, it’s clear the success of the brand will linger just as long as the savoury fragrances that it offers the world.

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The Scent of Success

Thami Nkadimeng continues to use her background in communications to make positive change and contribute towards the United Nations’ Sustainable Development Goals. She continues to work with presidents, leaders, executives, corporates and organizations worldwide and has recently been selected as one of 2023’s Top 100 Most Influential People of African Descent Under 40.



The quote that Albert Einstein is widely credited for is: “The definition of insanity is doing the same thing over and over again, but expecting different results.”



How did Thami Nkadimeng get to be The Message Architect? Rather than spending the next few sentences writing about it, she suggests it would be better for all those reading this article to also watch her TEDx Talk I Used My Mind’s Theatre To Become on YouTube.



She says she would rather write about her gift, her purpose and calling and the method she uses to differentiate herself. Walking in her Message Architect shoes is a decision she consistently makes with intention. She speaks on topical matters concerning society at various meetings, conferences and events but says her ultimate duty is distinguished by how she treats these global platforms with respect to humanity and for the greater purpose of serving mankind. What does it take for her to achieve this? Well, step into her mind for a few minutes to understand, The Message Architect way:



S – SIMPLICITY



She has come to learn that if something is intentionally complicated it is not for her to share. She is wired to make messages understandable by the majority. Often the more complicated matters are, the more sugar-coated the truth is too. The words used need to be understandable by all genders, races, age groups, especially on topics pertaining to consistency, fairness and justice of people across the board.



E – ECOSYSTEM



Everything is interconnected and in her preparation process, the consideration of the ecosystem alignment is imperative. Her role is to foster collaboration through her thought-processing and suggestions, playing the golden thread.



R – RESEARCH &amp; INTENTION 



Research of the topic is absolutely and obviously imperative. However, research of the environment, its history including the culture, religion and other aspects that may contribute towards information consumption in that geographical area is of utmost importance. This has to be done with intention.



V – VISIONARY &amp; CLARITY



Understanding the objective of the gathering is key. Once the objective is defined, she uses her imagination and role play, visualizing the impact creation the stakeholders of that gathering could attain – that often allows the creativity side to join the scripting process.



E – ENDURANCE



The vocabulary used in the delivery of the communication through moderating, program-directing or hosting must allow the message to stand the test of time. Refrain from catch phrases that will last a season only – unless absolutely necessary. History dictates that change on matters that count for society happen steadily and she wants her contribution to be a baton that she can hand over to the next generation, not one that requires recreation.



If you pay particular attention to the first letters of each point you will begin to spell out ‘serve’. The biggest ask about being The Message Architect is to make certain that the manner in which she creates messages is not just for consumption for those in the selected audience but also for everyone else who will also hear it – often the ones who are not intentionally considered.



Did the waiter in the room understand? What about the person at the technical booth and the child doing their research from the recording of the event? Why? Because if all humanity begins to understand what we are working towards, then moving the needle will become simpler&#8230; not effortless, just simpler. She understands that education can help remedy many of the other issues and education never takes place in the classroom alone. Her calling ultimately is to serve through communications and architecting messages that educate people.



Visit www.thaminkadimeng.com

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