In the quiet residential area of North Ridge, a four-acre piece of land is being developed into a 200-unit apartment complex. The development in Accra, Ghana, is part of a trend of new real estate projects springing out from previously abandoned parks.
“This is a very competitive market, there are not many people with a lot of disposable income, so the market for potential buyers is very small with everybody going after the same pot,” says Godwin Ofori, real estate agent at BCD Properties.
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Skyrocketing prices for properties is making people desperate to find bargains, says Ofori. Kelvin Nyame, the Co-Founder of meQasa, is hoping to ease their anguish.
meQasa is an online property listings site connecting buyers to more than 23,000 commercial and residential properties across Ghana.
“There are about 27 million people in Ghana and we look at how many people have the budget to rent the types of houses that are available for rent, or office spaces, then you look at people who have disposable income. We feel that the market is very small, so either you are number one or you are out of the game and to be number one you need to have three times the content that your competitors have,” says Nyame.
Nyame believes content is king.
“In the listings, we are the highest right now, and traffic wise we have closed the gap with our competitors. We are doing about 40,000 serious seekers with over 290,000 page views per month. More than half of the 40,000 are converting and what that means is that they are sending emails to our agents and calling our agents to enquire about our properties and we hope to grow this number by up to 50,000 to 60,000 by December,” he says.
Nyame came up with the idea, along with Rashad Seini and Kofi Amuasi, at the Meltwater Entrepreneurial School of Technology (MEST).
“So the whole idea of MEST is to learn software and online business. The program is structured such that you do capstone projects and in the capstone projects you form teams with everybody. The idea is that by your final capstone project you will want to develop your idea into a business and meQasa was one of the last two projects we were thinking of making into a business. After analysing our expertise and our skill set we decided to go for meQasa.”
Nyame and his team had to adopt a lean strategy from the start.
“The market is very small but there were a lot of big players and we just had $90,000 seed investment from MEST to operate with for two years. So if you do the maths, you can only spend about $3,000 per month and this includes employee salaries, office space, marketing and product development, so we were very limited and everyone was after the same customers, so it was very tough.”
There is, however, a light at the end of the tunnel. At the end of 2015, meQasa secured a much-needed investment of $500,000 from Frontier Digital Ventures, a global venture capital firm headquartered in Kuala Lumpur, Malaysia. Nyame is using that cash injection to streamline the business.
“We started monetizing two months ago and we have what we call subscription for developers, so every developer has a fee they pay for a number of months with different bundles. We also have banner ads and also sell our newsletter. For agents, we have products that are customized as well and by 2017 there will be space for every agent that wants to list on the site.”
In just three years, meQasa gained a significant percentage of the property listings business, according to Nyame.
“The early days were tough. We did a lot of research but we made some assumptions. We tried models. As a business you want to look at how you can make money and some of the models didn’t work. One of the models was that we recruited agents who we called meQasa real estate agents. So basically we would give them some kind of resources and an ID card so they know that they work for us but they also have their own real estate business. The idea was to send them leads so that when they close the deal we share the commission but that didn’t work.”
“We also hired a meQasa agent relationship manager to manage the agents, which also didn’t work. We made a lot of mistakes by also looking at the US market and what will work over there, but again that is a very advanced market so it wouldn’t work here. Now we are looking more at emerging markets in Southeast Asia, who are not too far from us in terms of developments but they managed to find solutions.”
The company plans to expand to other African countries and Nyame hopes he’ll soon be the top player in the continent’s property game.

‘Either You Are Number One  Or You Are Out’

It was as tough as tough could be. From his early years, life loomed like a clenched fist in the face of Teboho Twala. These days he drives a Porsche and is a classy and elegant young entrepreneur a world away from his often tortured childhood.
At the age of 10, he was sleeping under a wheelbarrow in the yard and lived on the streets for more than a year. The reason – a troubled childhood through a mother who turned to drink and violence when Twala’s stepfather left her. His job became protecting his younger brothers and sister while dodging drunken rages by sleeping in the open in Qwaqwa, in South Africa’s Free State province, a 300-kilometer drive from Johannesburg.
Twala was left stranded without a plan, but someone was there to help him.
The first saviour was the mother of a friend, Masabata Sophie Mokome, known as ousie Sophie. She was the only one that stood up for Twala while other neighbors were scared, he says. Soon after, she told his son to fetch Twala to live with them.
“She ran a bath for me and the next day she took us to Edgars and bought us clothes,” he recalls.
Twala was adopted for over a year before moving back with his grandmother after she heard he was homeless.
Sadly, the grandmother died while young Twala was in secondary school. Fortunately, after living alone for a while, he was taken in by his aunt who is a domestic worker.
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He didn’t have an easy childhood, but the hardships steeled him into the man he is now. These days he has a trimmed beard, articulate speech, and is always on the phone.
He is a 35-year-old entrepreneur who makes a hangover drink, which also doubles as an energy drink for those who don’t drink alcohol. It is called Zzero Hangover.
It is a legacy of high school where his second saviour, his principal and biology teacher, believed in him like a father.
“Mr Ntsane; he looked after me. He may not have given me money but pushed me and I pushed myself,” he says.
Twala did so well in school that his fellow pupils collected money to pay his registration fees at the University of the Witwatersrand (Wits).
“The whole school had to donate, R1, R2. Mr Ntsane and I had to go to taxi ranks and government buildings to donate and we raised R1,700 ($120),” he recalls.
Young Twala passed all his subjects and he bought himself a Pentium 1 computer for about R1,000 ($70). It was his first computer and had no idea how to operate it; he had to learn fast. He was doing his first year in a bachelor of science (BSc) degree and needed to do assignments.
Two years later, he dropped the BSc for chemical engineering; he passed and got a bursary with Gold Fields in Virginia, Free State where he was reunited with his land of birth.
Sadly, all didn’t go well. Gold Fields’ share price went down in 2004 and students had to go home. Twala was without registration fees, nor a job.
Stranded without a plan, in stepped another guardian angel.
“A friend of mine assisted me; he had just finished his master’s and started working. He paid for my registration at the University of Johannesburg (UJ). I did well there; I had seven subjects and got five distinctions,” he says.
Post-graduation, Twala worked for Impala Platinum and later got an offer to work for South African Breweries (SAB). Two years later, he got a better offer with a bigger responsibility from Impala Platinum, in Rustenburg, in the North West province. He went back and worked right through to 2011.
The blessings came in abundance. That same year, he got an opportunity to work for a German company looking for a process engineer. Through that, he got an opportunity to work in Nigeria and travel to Germany.
That is when his entrepreneurial interest developed. He was inspired by the young entrepreneurs in Nigeria.
“But also, I had a boss, Sir David Osunde that believed in me. He was an old man; he took me to big meetings. I could then do presentations to ministers. That’s the level I was at because of this man,” he says.
Twala and other engineers from other parts of the world lived in a camp in cluster houses; each owning one. Besides work, they had nothing else to do. So they would spend time at the bar.
One night, they went to a pub and had a little too much to drink. The morning after, one of the engineers had a heavy hangover and didn’t know how to get rid of it, says Twala.
He took that as an opportunity and researched what could kill a hangover.
A European at the camp told him there was a solution for that in their continent. It was in Slovakia, but it was a German product with their head office in Austria. It was confusing for the young man.
In 2013, Twala came back to South Africa for a holiday. He wanted to make the idea work and not go back to Nigeria. He contacted people from Europe and told him they have a person in South Africa with a franchise, he bought it. He started distributing the product.
“It was called Alcohol Kill, but now it’s dead,” he says.
After traveling to and from Europe, Twala lost the R1 million ($70,000) he had invested in the business.
He had to come back and rethink how he was going to make the hangover solution work. During that period, he met a neurologist who said she could make an energy drink.
“I wanted something unique; my mind was on a hangover solution,” he says.
They worked tirelessly together and got a formula after a year.
Before that, Twala’s entrepreneurial instinct had kicked in. He and a friend bought News Café; a cafe-bar and cocktail franchise restaurant founded in South Africa.
He used that as an opportunity for customers to taste his product at the bar. He was getting good responses and decided to start bottling, manufacturing and distributing the product.
Twala came across a company called Boxmore which specializes in packaging. He bought generic bottles and branded them. The next challenge was finding someone who could fill the bottles.
He was satisfied with Inhle Beverages in Heidelberg, south of Johannesburg, which filled for big companies like USN and Clover. Throughout the production phase, all the companies liked the brand and its uniqueness.
Zzero Hangover was now born and had a trial run in April 2016.
“We produced a few units and sent them to the shops. That’s when the story broke in the media which was good for us,” he says.
The product was launched in May. Today, it is found in big retail stores across southern Africa. Zzero Hangover is self-funded and directly employs 10 people and contracts about 300.
Twala went from sleeping under a wheelbarrow to driving a Porsche and looking like a hero in his childhood township in the Free State. The hangover from his tough childhood has gone.

A Tough Hangover

When he talks, people listen; when he moves money, markets react and when he invests, many follow.  He is Christo Wiese, Africa’s third richest man after Aliko Dangote and Nicky Oppenheimer &amp; family, according to FORBES’ list of Africa’s 50 richest, and the creator of Africa’s largest retail store. He is ever busy as he adds to his $6.5 billion fortune, but his last investment raised a few eyebrows.
As we meet, Wiese is dressed in black pants and a black sweater; you may mistake him for an ordinary bloke on the street in Cape Town, South Africa. But, there is nothing ordinary about this man when it comes to business. His creation, Shoprite, earns revenue of $9.9 billion a year, at a time when retail is struggling. Steinhoff, the parent company of Wiese’s retail company PEP, brings in $11.8 billion. Combined, they net almost $2 billion in annual profits, operate more than 9,000 stores in 30 countries and employ over 200,000 people. He made his fortune from smart investments that earned him billions. So, why is he looking to venture into Africa’s glittering, but struggling, diamond industry?
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The family businesses, Cream Magenta 140 Proprietary Ltd. and Metcap 14 Proprietary Ltd., bought close to 50 million shares (23.54% each) in diamond company Trans Hex. This adds up to a dominant stake of just over 47%.
This isn’t entirely new territory for the risk taker. Wiese was in diamond mining in the late 1990s through an investment in Ocean Diamond Mining Holdings (ODM). He sold ODM to Namibian-based diamond miner Namco.
“I used to be in the diamond industry 40 years ago and the opportunity arose to acquire a controlling stake in Trans Hex which is one of the junior diamond mining companies and one I think has potential,” says Wiese.
The cold fact is South Africa’s once thriving diamond industry is suffering atrophy. It has no more than 200 diamond beneficiators remaining from a historical peak of about 4,500 and a decline in investment, according to Mining Weekly.
“Rough-diamond prices are too high for manufacturers, who cannot profitably polish goods at such levels. Polished-diamond prices have declined, in turn, reducing demand for diamonds from South African mines, as well as throughout the world,” it says, quoting World Federation of Diamond Bourses president Ernie Blom.
Trans Hex has not been immune. Their 2016 results suffered heavily from a sharp decline in rough diamond prices.
“The diamond market was severely impacted by excess stocks in the polishing industry and a resultant decline in demand for rough diamond. Average prices received for rough thus decline by 23.5% year-on-year. As a result, the Lower Orange River operations, which are earning the end of their reserves, moved into loss overall,” says Bernard van Rooyen, Trans Hex Chairman in the company financials.
Piet Viljoen, Alternate Director at Trans Hex, says its share price has come under pressure but the business has tried to ride the storm.
“The problem creates value in a very lumpy way. It earns a lot of money one year and then makes big losses the next year… so its share price doesn’t seem to go anywhere ever, that’s why it creates the impression that the business is under pressure,” he says.
Viljoen says it helps to have shareholders like Wiese who have vision.
“The shareholder reference can act as a provider of capital when the business needs it, do acquisitions or to fund projects.”
Trans Hex Group incurred a disappointing loss of R100.8 million ($7.3 million) and Viljoen has called it “a difficult year” but Wiese is optimistic.
“It is going well, except the exchange rate is not in favor of diamond exports because the rand is stagnant. With the diamond industry, you are not running a shop where you always know what your sales are going to be,” says Wiese.
Wiese is known for taking risks and smart investments. More than 60% of his wealth is in Shoprite and Steinhoff, while another 30% or so comes from his shares of investment company, Brait. His stock in Tradehold, a real estate firm, accounts for much of the remaining 10%. He has made investments in the United Kingdom (UK) such as clothing retailer New Look and gym chain Virgin Active. He says there is no secret behind the success.
“In this company, we have always had a philosophy, in terms of which we run our group of companies. These are the five pillars as we call it; faith, positive thinking, enthusiasm, compassion and hard work. Hard work is probably important but you’ve got to be a positive person and able to put teams together and motivate them. I am not a person running the business, I play a different role. The good business leaders like Whitey Basson and Markus Jooste are people who can put teams together, motivate them and steer them in the right direction,” he says.
There have been several enormous setbacks like the currency upset in 1985 when the rand lost about 50% of its value in less than a year, Brexit, which badly affected the share price, and great disappointments in people. It is wealth that hasn’t come easy.
“Oh yes, plenty [of bad investments]. I can’t even remember the worst one but there are many adventurous investments that just didn’t work out. I am heavily invested in wine farming and that’s not a very big lucrative business but it gives other pleasures such as the beauty of it…”
“A man’s true wealth is the good he does in the world,” goes the proverb. According to Wiese, success is more than how much money you have, it is about whether you can look at yourself in the mirror and say maybe it’s very small but my contribution made life or the world a slightly better place. Following this mantra, he is helping the poor gain title deeds to their homes. He is a sponsor of the Free Market Foundation, which is working with First National Bank to give people land tenure, and gave more than 100 title deeds to residents of Ngwathe, a municipality in South Africa’s Free State province.
“The Free Market Foundation looked at South Africa and found that there are between seven and 11 million households where the occupants own the structure on the land by they do not own the land, so they launched an initiative cooperating with the local, provincial governments to give people title to their homes. My family decided to get involved in that to make financial contributions in order to help people to acquire the title deeds to their homes,” he says.
“It is an enormously important thing for people to have a sense of ownership. People that are used to owning things do not realize how much it adds to a person’s dignity if he can say ‘this is my home. It may be a modest little home, but it’s my home and I can leave it to my children and be assured they have a roof over their heads.’”
Wiese says positivity rules his life.
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“If you are positive about life, you ignore the unfair criticism. A lot of the criticism is totally justified but you don’t focus on either the nice things people say to you or about you too much or equally you don’t concern yourself too much about the bad things people say…”
“I don’t remember anything bad people say. I always say to entrepreneurs, ‘if you start rising above the average, you become a target’. People say, ‘but that guy is not cleverer than I am, why does he make a success and I’m so clever and I don’t make the same financial successes?’ You have to know you will have people tear you down; it’s part of the game,” says Wiese.
We leave him preparing to jet off to the UK for meetings. Some may not understand his decision to dive back into diamonds, but Wiese seems to see money where others don’t.  Maybe the smart investor should take a look at the diamond business.

The Billionaire Diving Into The Depths Of The Diamond Business

South Africa’s President Jacob Zuma desperately tried, but failed, to block the release of the public protector’s report that implicated him, several politicians, and state-owned enterprises, in the so-called state capture saga.
In the same week that controversial fraud charges against the Minister of Finance Pravin Gordhan were dropped, the president and two of his ministers were dealt with a sickening blow by the North Gauteng High Court in Pretoria. On November 1, Judge Dunstan Mlambo struck off the roll the application of the Minister of Cooperative Governance and Traditional Affairs, David van Rooyen. Minister of mineral resources, Mosebenzi Zwane, and Zuma also failed to have the report interdicted. Zuma’s lawyers withdrew their application and the judge ordered the office of the Public Protector to release the report in a few hours.
The report implicated Zuma, several ministers, and some businessmen, in colluding in state capture with the Gupta family. Brothers Ajay, Atul, and Rajesh Gupta, from India, have numerous business interests in South Africa.
Former Public Protector, Thuli Madonsela, had planned to release the report on October 14, her last day in office, but Zuma’s lawyers applied for an interdict to prevent the report being released.
In a television interview soon after the state capture report was released, former South African president, Thabo Mbeki, said he believes Zuma will respect the law.
“I would like to imagine the president, like everybody in the country, would take the report seriously, study it as the presidency has suggested. Study it closely with the view to taking whatever action might be necessary. I don’t know what it would be, but it must be based on assessment of what the Public Protector has said and the implication of those statements if they are indeed correct,” said Mbeki.
In 2005, Mbeki suspended Zuma, who was the Deputy President at the time. Zuma was accused of having a corrupt relationship with his former financial advisor, Schabir Shaik. Although the charges against Zuma were dropped, Judge Hilary Squires found the two had a “generally corrupt relationship” and Shaik went to prison.
Zuma dodged serious charges then. Will he be able to repeat the trick after the state capture report? The Public Protector stated that Zuma must appoint a judicial inquiry within 30 days to investigate the allegations. Zuma, however, says he plans to go back to court to challenge the report. He says it is inconclusive and needs to be reviewed by him.
Prince Mashele, a political analyst and senior researcher at the Centre for Politics and Research at the University of Pretoria, says the African National Congress (ANC) missed a golden opportunity to fire Zuma when the Constitutional Court ruled he had misused state funds to upgrade his Nkandla homestead.
“The report is a clear indication that South Africa is run by a corrupt government and people who join politics to enrich themselves at the expense of citizens. This is a simple message to the rest of the world that we are no different from the rest of the continent. This doesn’t put us in a positive light. During the tenure of Presidents Mandela and Mbeki we gave the impression that we were different, but Zuma has confirmed the stereotypes that we cannot run our countries,” he says.
Mashele says he cannot imagine the ANC repairing its dented imagine before the national elections in 2019.
“The ANC is doomed. They can only go down. Come 2019, if they are winning the elections, they can only do that with a small margin. They have been constantly losing the people’s support. I won’t be surprised if the people dump them for the opposition,” says Mashele, is the author of The Death of Our Society and co-author of The Fall of the ANC: What Next?.
Scathingly, Mashele says we must all thank Zuma for revealing our true African character, that the idea of the rule of law is not part who we are, and that the constitution is a concept far ahead of us as a people.
“How else are we to explain the thousands of people who flock to stadiums to clap hands for a president who has violated their country’s constitution?”
“Now that we have reclaimed our place as another African country, we must reflect on, and come to terms with, our real character and imagine what our future portends,” says the despondent Mashele.
Unless a credible and independent investigation into the state capture allegations takes place, that future could be bleak.

Backed Into A Corner But Still Throwing Punches

In the space of few days, just before South Africa’s Finance Minister, Pravin Gordhan, was to appear in court on charges of fraud, the reputations of President Jacob Zuma and the country’s National Director of Public Prosecutions, Shaun Abrahams, were dealt damaging blows.
In an impromptu press conference on October 31, a day of Halloween that might haunt Abrahams for years to come, the National Director of Public Prosecutions announced that he was withdrawing the charges against Gordhan, along with those against two former employees of South African Revenue Services (SARS), Ivan Pillay and Oupa Magashula. From the word go, many suspected the charges were trumped up and politically motivated.
In a long-winded speech at the NPA’s headquarters in Pretoria, Abrahams was nervous as he fielded scathing questions from the media. It was a far cry from the man who seemed self-assured as he announced the charges less than a month before. While Abrahams was confident then, his actions sent shivers down the spines of investors. The markets plunged and the rand fell more than 3% in few minutes. It was just two weeks before Gordhan delivered his mid-term budget speech.
It raised questions about the leadership of Abrahams, who is in charge of National Prosecuting Authority (NPA), and Zuma, who appointed him.
“When you are in a situation like we are in at the moment, you need leadership in government. At the same time, get the timing right. Leadership, in this particular instance, is needed to inspire confidence. Confidence in your country, confidence in a future and confidence in yourself, that you can influence the present to change the future. That is what is missing at the moment. Some of us are trying, some of us are close. I think we can do it,” said Gordhan during an interview with CNBC Africa a week before the trial was to begin.
On November 2, the day Gordhan, Magashula and Pillay were meant to appear in court, the High Court in Pretoria ordered the Public Protector to release the report on state capture, despite attempts to interdict its release by Zuma, Cooperative Governance and Traditional Affairs Minister David van Rooyen, and Mineral Resources Minister Mosebenzi Zwane. All three are implicated in the report which raises questions over the influence of the Gupta family on the president, ministers and state-owned enterprises.
Members of the Economic Freedom Fighters (EFF) marched in Pretoria demanding Zuma and Abrahams resign.
In Pretoria, shops closed their doors for fear of looting. The only people making money were those selling food and EFF merchandise in the streets.
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An EFF branded truck entertained the supporters with music as a group danced and sang revolutionary songs at Church Square. Later, while addressing thousands of his supporters, EFF President, Julius Malema, lashed out at Zuma‚ saying that he’s “the country’s number one thief who sold it to the controversial and well-connected Gupta family.”
“We are putting a very strong argument that Zuma must pay the cost personally. We want to teach Zuma’s Mickey Mouses a lesson because these ministers are doing as they wish and they take matters to the court knowing that they won’t be affected,” says Malema.
“All those who captured the state of our institution must go. The CEO of [national power supplier] Eskom must go because he doesn’t have a place in our institution and that includes everyone else in government-owned companies who are controlled by the Guptas, if you can’t resign from the Guptas now; you’re going to be history. The Guptas must leave South Africa.”
The marchers dispersed while chanting: “Zuma the thief must voetsek (go)” and “Defend the democratic state”. Chaos erupted as they blocked traffic around the central business district. Police attempted to control the crowd after they burned a water tank.
The crowd ran amok and damaged property and looted shops. They assaulted the security who was trying to protect shops. The police used stun grenades, rubber bullets and water cannons to disperse the supporters after they reportedly tried to force their way onto the lawns of the Union Buildings.
In these few days, where chaos erupted in parliament, court and the street, South Africans were assured that the law will always trump political shenanigans. As Gordhan was able to hold his head high, Zuma and his cronies had to take cover and plot their way out of the mess they suddenly find themselves in.

‘Zuma The Thief Must Voetsek’

He doesn’t look much like a multimillionaire but Michiel le Roux has done for banking what Bill Gates did for software and Muhammad Ali for boxing. He wears his net worth lightly, but a very task of creating a bank that in 15 years has forced its way into the top five in South Africa’s competitive industry.
“We said let’s build a bank and we were not going to experiment on a small scale, we always stayed very close to our clients and we knew what we wanted to bring to the industry,” says Le Roux.
Capitec was born in the worst of times. In the days leading up to its launch, Saambou Bank, one of South Africa’s significant players, went bankrupt. It was a very public collapse that did the image of banking no good at all. Lines of people appeared on TV news desperate to get their money out.
“The Reserve Bank closed them on a Saturday to minimize the impact on the markets and we listed Capitec Bank Holdings Ltd on the Johannesburg Stock Exchange on Monday, 18 February, 2002, the week later. That was a terrible time to list a bank and it also meant it was a terrible time to get finance whatsoever. I know I sound like an old man saying you learn from your mistakes but it’s true. Starting a business in good times is always very dangerous because you will think business is easy when the wind is blowing from behind and the sailing is smooth. When you start with wind blowing from ahead, then you know business is tough and you grow,” he says.
To survive, when others failed wasn’t easy.
“It’s a hard slog to create the infrastructure, to network, to decide what you want to do. We take pride in the fact that at that stage, when we were also starting, Old Mutual had a retail banking license and they wanted to start a retail bank. They were looking for systems when we were looking for systems and the rumor mill had that they paid out R800 million ($60 million) for their system and that was when the rand was about R4 to the dollar but they never opened that bank because they couldn’t make it work.”
About a decade ago, few deposited their salaries into Capitec, most had never heard of it. Today, Capitec has over 7.3 million active clients, 792 branches, 11,440 employees and holds R13.7 billion ($1 billion) in shareholders’ funds. For Capitec, simplicity is everything.
At Capitec, they take simple seriously. No suits, the CEO’s office is the same size as everyone else’s, the CEO shares a personal assistant, no personalized parking spots, even the guard at the gate calls him Michiel, while the receptionist jokes freely about his sense of style – or lack thereof.
“Here, there is no distinction between people. Nobody flies business class. How you fly, where you stay, the rental car you drive is the same whether you are the CEO or the junior in the company. Everyone gets the same treatment.”
There is a business reason for this. Everyone is important.
“A bank always determines the value of the client based on their net worth which to this stage in my mind doesn’t make sense because a guy with high net worth might be very frugal with the use of his credit card whereas a guy with a much lower net worth might be exorbitant with his credit card use. The guy that is exorbitant should be much higher in the rankings but banks don’t look at it that way.”
“If you are a factory worker and earn very little, they were not that interested in you and that to me was a failure on banks not accommodating the lower income people,” he says.
This simplicity and business acumen has made Le Roux a rich man; the 38th richest in Africa to be exact, according to FORBES. In just 15 years, this fortune has grown rapidly. It has nearly doubled from around $290 million in 2011.
It has earned him recognition by the publication you are reading.
“Michiel Le Roux has been a bold entrepreneur this year and an example to others in business,” says one of the FORBES AFRICA Person of the Year judges.
You can bank on him.

Simplicity Is Everything

Africa has had its fair share of great leaders, like Nelson Mandela and Kwame Nkrumah. However, political power in Africa is often seen as an easy path to become wealthy. Too often, cronyism and patronage oil the wheels of governments, ensuring that corruption goes unpunished and impunity reigns. Enter Tanzania’s President John Magufuli, who is defying all the purportedly accepted norms of African leadership.
Magufuli wasted no time in implementing his campaign promises, quickly living up to his nickname &#8211; the Bulldozer. Tanzanians first felt the effect of his fresh leadership when he ordered the funds for their extravagant Independence Day celebrations be redirected to buy much-needed beds for public hospitals, immediately gaining him worldwide admiration.
His firm stance on fighting corruption, his introduction of severe austerity measures, and his seemingly aggressive development agenda, have earned him accolades. The United Nations Economic and Social Council recently named him the World’s Best President.
With just one year in office, Magufuli has amalgamated several ministries, downsizing his cabinet from 30 members to 19. He has banned the purchase of first class air tickets for ministers, and government meetings and conferences are now held in state buildings rather than high-end hotels. To the dismay of senior officials, he auctioned off their luxury cars, seen as both a right and a necessity, with the generated income being channeled into public services. He has also banned any future purchase of such vehicles.
“The president’s approach so far has been commendable and his battle with corruption impeccable. I think he will sustain his current style and won’t be putting his guns down anytime soon,” says Nicodemus Minde, a Tanzanian political analyst.
By channeling resources back into Tanzania’s economy, Magufuli’s austerity measures have been lauded and the impact is already being felt. His somewhat autocratic style is facilitated by the powers allocated to the Tanzanian Presidency. These allow him to appoint and dismiss officials, and to leverage state security apparatus to flush out and punish corruption and economic crime. He has pledged to double development spending, funded by cutting government wastage, which may enable economic gains to trickle down.
Although a chemical engineer by profession, Magufuli is not new to politics. He has been an active member of parliament for two decades, heading various ministries throughout his tenure. His radical, yet effective, methods of governance set an example for transparency, good governance and strict control of government spending. Tanzanians have grown to love his style, while citizens of neighboring nations look on enviously, hoping their leaders will take a leaf from his pragmatic book.
Ali Mufuruki, Chairman and CEO at InfoTech Investment Group, describes Magufuli’s style as steadfast.
“He has demonstrated a unique kind of consistency, an undiminishing stamina and an unswerving steadiness in his fight against the vices of corruption, abuse of office and waste of public resources.”
While Magufuli’s first year in office has been impressive, it remains to be seen whether this will translate into more economic growth, given that Tanzania was already growing by 7.9% in the second quarter of 2016. His success so far has been met with skepticism in some quarters, with some pundits warning that celebrations may be premature.
Magufuli has taken up the challenge of transforming his developing nation into a world-class economy and shown a willingness to challenge the long-standing negative views about African leadership. Years from now, Magufuli’s name might be mentioned alongside Mandela and Nkrumah.

The Bulldozer Crushing Corruption

<h4>What the judges said</h4>
&#8220;We feel Thuli Mandonsela is a woman of substance who has inspired many people across Africa with her stand for the rule of law and against corruption. In seven years of hard work, she has spoken truth to power and helped keep the people running her country accountable. A difficult job she carried out with professionalism and integrity.&#8221;
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Her polite, welcoming, voice would make anyone feel at home. It is strange to see Thuli Madonsela – the towering advocate woman who has taken flak from politicians for years – at home, relaxed and flanked by her family. She ushers me into the lounge. We sit next to an open patio door, facing a cluster of colorful trees, with a welcome breeze easing this sweltering summer’s day. Every bit of furniture matches her unpretentious nature. African paintings on the walls; each ornament holds a story about her travels across the continent.
She looks good for a person who has just left office, in her own words, followed by missiles. Her biggest case so far has caused ructions – the so-called state capture report. She was investigating allegations made by South Africa’s Deputy Finance Minister Mcebisi Jonas that he was a offered the job of Finance Minister by the billionaire Gupta family that has opened a can of worms.
The offer came, it is alleged, just before President Jacob Zuma fired the then Finance Minister Nhlanhla Nene in December 2015. When Jonas blew the whistle, former member of parliament Vytjie Mentor also alleged she was offered a cabinet post by brothers Ajay, Atul and Rajesh Gupta. The family has businesses, from coal mines to media companies, and were in partnership with President Zuma’s son. Former Government Communications and Information Systems head Themba Maseko also claimed the family unsuccessfully tried to bully him to put government advertising to their newspaper.
This report was one of the last acts in Madonsela’s seven turbulent years of speaking truth to power that took nerves of steel.
Her office, in the last days, was like a house of madness, she says. There were complaints to be investigated, last-minute interviews and many loose ends from multiple investigations.
On the very last day, she and her team worked through the night in an atmosphere leavened by banter and jokes.
“It was exhilarating, as a result I never really had the opportunity to feel sad about seeing my office for the last time because there was so much adrenaline, so much to be done and it was all done,” she says.
“Then there were curve balls of having being either sued or spending time with the lawyers. On the outside I was pretty calm but on the inside I would be thinking I have three hours to complete this document but these other things were coming, so I did feel some of the pressure. There was a bit of noise on the outside but the team that I worked closely with also stayed calm. I think the only time I saw some cracks was when we were told the president has lodged an application for an interdict and they thought it was the end of the road. I had anticipated these difficulties with some of the seniors, so when the younger ones got panicky about life overtaking the good work done, we didn’t panic. We told them to calm down and continue with the report as if they haven’t heard any news.”
Zuma had applied for a court interdict to stop the report’s release, saying he wasn’t given enough chance to respond. He also accused Madonsela of saying the report was not final, implying he was misled. Zuma withdrew the court challenge on the day of the hearing.
“I’ve never said it was not a final report. All in writing, I have always promised to issue two reports. Phase one would cover whatever we knew then and what should be done to fix it. It was going to look at ministerial appointments, Mentor and Jonas’ allegations. It would look at the president’s liability because of the 30-day requirement. Phase two would be on the Catholic Bishop’s request to look into Gupta-related companies and all licenses and related matter,” explains Madonsela
Madonsela’s report has left a trail of tears and paper leading to murky business dealings that the Gupta family denies.
“I recommended a commission of enquiry because this investigation cuts across ministries, the legislator, the executive and go into state-owned enterprises, it is bigger than the arms deal (South Africa’s arms procurement scandal) and if you’re going to do an investigation like that you obviously need a commission of enquiry.”
Madonsela says she doesn’t understand why the report was being challenged and also “got a sense that if the president wanted this matter to be investigated he would have long done so.”
“This gives a perception that is not in his favor because if somebody makes this allegation about his son and this person is a member of the cabinet, a normal person who has nothing to hide would look into it. That’s a question that people raise which shouldn’t be raised about the president,” she adds.
“We asked him a simple question like why did you fire Mr Nene?”
The president chose not to answer the question, Madonsela says.
Madonsela knows how it feels to field questions about a son. Her son Mbusowabantu took her official car while she was asleep, in 2012, and had an accident.
“It was very awkward because for me, I’ve been asked very difficult questions too, I couldn’t give a different answer to journalist. The issue about my son, I have given a consistent answer whether you’re the media or parliament. I was asked by parliament and I never even got a lawyer to answer those questions, so I don’t understand.”
It’s surprising that this woman, who has worked where few dare to tread, has regrets. She feels she should have encouraged someone to sue the government for depriving her office of resources. Organs of state are compelled by section 181 of the constitution to equip institutions like hers. Madonsela’s office didn’t have electronic data capturing.
“You have to go through the whole system manually to find out where that matter is. You’re also unable spot cases that aren’t moving. I think we should have stood up, it is threatening the functionality of that office,” bemoans Madonsela.
Her biggest regret, she says, was also leaving remuneration problems to the administration. Staff were unhappy with a heavy work and light salaries. Law firms handle four major cases a year while Mandonsela’s staff handled more than 50.
Madonsela says this means low morale, contrary to her successor Busisiwe Mkhwebane’s claim, before Parliament, that hinted at Madonsela’s management style.
“I wrote in the report that staff morale was a problem. I had explained that the main problem with staff morale was finances. People are getting too many cases and it is documented, there are memos at my desk all the time,” Madonsela explains.
“In other words, had it been me I would have explained to them, provided I have evidence. I would have said here is a memo, the provincial managers have taken us to court on some of those issues. She had to say she will improve staff morale. She can’t improve staff morale without being given money.”
Parliament invited Madonsela for her last appearance, on October 12, but this was postponed to October 19. This meant Mkhwebane would sit in parliament to present the 2015/16 Annual Report after a mere six days in office.
“I remember I was with the team when we got the notice. We laughed and said nothing here is surprising. We still wanted to find out why it was postponed, but no answer was given. For me it was about leaving graciously but I think it created a clumsy transition between me and my successor. She now had to find herself presenting a report that was not hers which required prior preparation for her to defend herself.”
She also feels there should have been more quiet conversations with the government around values and processes. Institutions with more or less similar functions of the public protector spend their time doing a lot of education, she says, to the executive around the laws they have passed. Her clashes with government ended up being about processes and powers, but at the core of the disputes was the enforcement of values.
“There’s a common narrative about wrong and right. Take Nkandla [the president’s homestead that received irregular non-security upgrades], it was always about what was the ethical standard that President Zuma should have complied with. What was the responsibility of the president?”
“We’re back to the same problem again with state capture. The essence of it was what was the responsibility of the president of this country when one of his own trusted deputy ministers says I’ve been offered a bribe to take the job of my colleague and pass decisions that favor the person that is offering me a bribe. If you’re a president of the country isn’t it your job to just find out if there this is happening since the person who is saying this is implicating your friend and your child or somebody you call a friend publicly,” says Madonsela.
“It’s just an issue about ethics. Themba Maseko accuses you publicly as the president of the country that you asked him to help those people, don’t say I never did that. Shouldn’t you say I have instituted a commission of enquiry to find out why this young fellow is lying about me.”
“These people may well be lying and if they are lying they should be called to order but you need a process that checks out whether or not they telling the truth. As long as nothing is done about it you will always have this question mark. It is creating a dysfunctional executive, it’s creating fractured relationships but it’s also saying to the world there are improper influences in the state of South Africa but it may well be not true.”
These are conversations she believes would have helped cabinet with its responsibilities as stipulated in the Executive Members Ethic Act under section 195 and 237 of the constitution. Her office was inundated with requests to investigate cases she would rather not, like state capture. There were many reasons. Hands were full, she was on her way out, cases should be dealt with on last in last out basis but this case was brought under the Executive Members Ethics Act. When a case is brought in through this Act it compels the Public Protector to investigate. According to this law, cases are also supposed to be completed in 30 days, which also left her with no time.
Madonsela had to make tough choices in standing up for the truth that won her the admiration of many Africans and won her the title of FORBES AFRICA’s 2016 Person of the Year – a fitting send off for a fearless woman who never backed down even in the face of death threats.
“My children are relieved. My brother is just relieved that I made it out alive. That was his message the day I finished on the 14th, saying “sisi siyabonga ukuthi labantu abaku bulalanga (Sister, we are grateful these people didn’t kill you). I hope we keep it that way because with the state capture report, the missiles are following me. I’m done, this is just revenge, I can’t harm them in any way whatsoever,” she laughs.
Many people want to hear from this elegant and softly-spoken daughter of a domestic worker and taxi driver; she has filled her diary until the end of the year. Thereafter she heads off for either Harvard, where she may study guidance and governance, or lecturing at Oxford University. It’ll be a lot quieter there.
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‘Sister, We Are Grateful These People Didn’t  Kill You’

From the deserts of Rajasthan to the dunes of Dubai and the corporate dens of Africa, Rakesh Wahi has weathered the vagaries of life and business. When only 23, while serving in the Indian Armed Forces, he was electrofied and almost died. That early experience taught him to chase his dreams – and fulfil them, no matter what.
Wahi, founder of the Johannesburg-based ABN Group, including CNBC Africa and FORBES AFRICA, has been a leader in media, IT, telecoms and education. Also based in Dubai as Chairman of CMA Investment Holdings, prior to moving there, Wahi had served in the Indian army for about nine years, and for distinguished services to the country in peacetime, was awarded the Vishisht Seva Medal by the President of India in 1985.
Wahi has built companies in over 22 countries, employing a little over a 1,000 people. “Extremely passionate about education”, it is his vision to set up educational centers of excellence across Africa. His first university was launched in Ghana in 2013. He is also the co-founder of Murdoch University Dubai.
Here, Wahi talks about education, innovation, and his debut book, Be A Lion, which will be unveiled at the finale of the 2016 CNBC Africa All Africa Business Leaders Awards in Johannesburg on November 11.
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<h4>What is Be A Lion about?</h4>
It’s about people and the impact they have had on me. I think this entire journey I have made is about how people have influenced me. First, on your way up, it’s your parents who are your greatest influencers as that’s where you get your identity from; and then, over a period of your lifetime, it’s the people who come into your life and make an impact, some positively, some otherwise. And that is the greatest experience you can talk about.
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<h4>You own multiple businesses; what new innovative industries are you possibly looking at?</h4>
When it comes to innovation, the key is to focus on how the world is changing and how things are going to impact our existing businesses. You have to constantly think about how your consumers are reacting to your products and services, and constantly change and that’s what innovation is about; it’s about reaching your customers in a more efficient manner.
With regard to the education sector, it’s changing rapidly. The way children consume education is very different from our time. The traditional classroom environment is changing.
Now, is learning going to be classroom-based? Are holograms going to be the future of education? Can you superimpose a teacher sitting in New York into classrooms in core campuses across the world, and have concurrent teaching?  A lot is changing.
Online is a very important aspect of where education is going, but I don’t believe that is the answer to it; I think the hybrid kind of education is what is eventually going to come around. Face-time with teachers is critical, the social engagement with peers is critical, so therefore a lot of things are going to remain constant with education, and the rest of it will evolve in terms of where technology and innovation can be used to make it more efficient.
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<h4>What are your continuing goals for education in Africa?</h4>
We are setting up centers of excellence. In West Africa, with Lancaster University, we are going to be setting up an engineering college with strong laboratory-based learning. In East Africa, our focus is energy and a vast part of it will require simulators and modern training equipment, and we will be partnering with industry to make sure we get the best of breed. We will roll out energy programs in the rest of Africa, and encourage students from across Africa, Asia and emerging markets to come to Rwanda for instance, where we are partnering with the University of Aberdeen for our energy programs.
In southern Africa, we are looking to partner with one of the Scottish universities to set up a center of excellence for health sciences, including medical and nursing colleges.
We don’t want to bring in technology from the yesteryears just because it is cheaper, or because we think Africa is still an emerging market, we want to actually leapfrog and bring in the latest technical innovations into these centers.
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<h4>CNBC Africa turns 10 next year; what are the innovations in the media business?</h4>
The entire way in which people are going to view television is changing, so are distribution channels. What remains consistent is there will always be demand for high-quality content. Our focus on creating quality content, which stays with the values of CNBC globally, is going to be one of our core competencies, but how you distribute it is going to actually evolve in the next 10 to 15 years, particularly in Africa.
The viewing habits of consumers are changing, they are no longer watching channels; they are watching programs, and able to customize their own grids. What is relevant is you will be able to watch what you want, at the time you want, in a scheduled manner.
On the one side, we have to make sure we create best and compelling content; on the other side, we partner with distribution platforms able to cater to the needs of the consumers at an affordable price.
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<h4>How welcoming is the African economy today of innovation?</h4>
At conferences and workshops, people talk about innovation, but I am not very sure they are actually geared up for it. The practical elements of bringing innovation into your workplace, whether in government or large corporates, is about a change in mindset, when you have to change processes and the way you look at things. It’s about driving change, and also, the commitment of leadership.
You do find there are some leaders in Africa bringing about that change, and the one that I would single out is President Paul Kagame, which is why Rwanda is making strides the way they are. He has the ability to visualize the future. They also have restrictions in terms of the size of the economy, but when you are hungry, you are able to adapt faster.
Kagame has brought a culture of change in his country, and it is very visible in the way you do business in Rwanda. You can set up a company in six to 24 hours if you have your documents in order. Rwanda gives you the opportunity to adapt quickly.
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<h4>How do you balance profit and philanthropy?</h4>
I think these are closely related. There have been great leaders like Mother Teresa who have devoted their time towards a cause. And she has touched the lives of our family too – she was very close to my mother, and has been to our home. But eventually, even to enable what she was doing, required money.
Over time, our own CSR and philanthropy as a family has changed. When Saloni [Wahi’s wife] and I were starting out in our life, even when we didn’t have much, we were always engaged in making a contribution towards causes.
Over the years, we found we needed to have a cause of our own, and after we set up the ABN Education Trust, we rationalized what made sense to us as a family. We focused on financial journalism, and also, on helping destitute women and the girl child, a cause Saloni is very passionate about.
Money is an important contribution but you also need to make time. Saloni and I work as a team. The heart sits with her, while I become the machinery for generating the income.
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<h4>Your most prized possession is…?</h4>
Family. I am not a material person. If I were to pack my life, I could pack it all into one suitcase.
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– Interviewed by Methil Renuka; for the full text of this interview, visit www.cnbcafrica.com; All net proceeds from the sales of Be A Lion, published by Penguin Random House, will go to charity and  the ABN Education Trust.

The Entrepreneur’s Entrepreneur

Call him unlucky or dodgy, whichever way you look at it, Zimbabwean financier and moneylender, Frank Buyanga, can fight.
He was trapped in his adopted country, South Africa, after Interpol issued him with a so-called ‘red notice’ in February 2012. This is issued to a person subject to an arrest warrant or one who is required to serve a sentence. He fought,  using the law, to clear his name. He is now free to travel and do business at home.
At the root of it all was his money-lending business in Zimbabwe. Buyanga’s borrowers secured their loans with their homes. Every now and again, defaulters refused to give up their houses, leading to litigation and growing disgruntlement. The government called the loans a sham.
“The police made sure I was absent by arresting me. By me being absent, all these complainants were able to go and lie to the courts, police and judges. To some extent, they were successful because I wasn’t around to defend my position because I was busy fighting a criminal case. There was no element of criminality in any of my transactions,” says Buyanga.
His lawyer Nick Kaufman fought tooth and nail for the matter to be resolved.
“Frank is a colorful character. People don’t like success stories, especially from people who show their wealth,” said Kaufman, an international lawyer who has represented Muammar Gaddafi’s children and the Democratic Republic of Congo leader, Jean-Pierre Bemba, against war crimes, when interviewed by FORBES AFRICA in 2012.
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“It’s a serious defamation of character, when you have somebody who is presumed innocent then his photograph appears with the likes of Osama bin Laden and his henchmen, then that in itself has an effect on a legitimate businessman who is trying to conduct activities,” he said.
Kaufman argued that the red notice offends the Interpol constitution in that it was tainted by political motives and offended the rules of Interpol in that it was essentially designed to coerce a resolution to what was effectively a civil case.
They won.
Buyanga says he later received a two-page letter, signed by the chief law officer in the attorney general’s office, Chris Mutangadura, reversing the notice.
“There was a lot of pressure from my side for the issue to be resolved. The National Prosecuting Authority was incorrectly advised in terms of how they came to the decision of putting me on the Interpol red notice. I think they realized that,” says Buyanga.
Able to travel freely, Buyanga continued with business in the country of his father’s birth.
“If I had it my way, I would sell all my businesses in Zimbabwe and go on holiday for the rest of my life. The problem is that, in that country, nobody can afford my businesses&#8230; I wouldn’t be sticking around there for these headaches,” he says.
In a limping economy, short of hard cash, people are reliant on lending; but problems that caused his red notice still persist.
As you read this, Buyanga has an arrest warrant out for him in Zimbabwe. He also has more than 200 cases before the courts brought forward by people who borrowed money from his company, Hamilton Finance. Most of these are him against “squatters”, as he calls them, living in his properties. He has been labeled a “loan shark” by some, yet others defend his business principles.
“We live in Africa which is still developing… whenever you do something that has some sort of relevance; people automatically look at you like a crook…,” says Kaufman.
Buyanga, the son of a former Zimbabwean civil servant, who was born in London, owns a Rolls Royce, Lamborghinis, an Aston Martin DB9 and others. He lives in a luxury flat at the Michelangelo Towers, in the heart of Sandton, near Johannesburg, and rubs shoulders with celebs, like former Liverpool and England footballer John Barnes.
“Four years ago, I was driving to Durban and my friend and I were following each other driving Lamborghinis. Police stopped us on the [highway] and said ‘can you put me in whatever you are doing, I know you are doing drugs’… this is the perception of people. Sometime ago, I was driving to Harare in an Aston Martin and a cop stopped me and said ‘I am not going to search you, tell me what you are carrying because you probably have gold in there. It’s a mental illness among our people,” he says.
Buyanga has been a subject of investigation for the past 25 years but has never been found guilty for any crime. Yet, if you google him, hundreds of articles of fraud pop up, including an arrest warrant for failure to attend court for conspiracy to fraud in the UK.
“I am not wanted in the UK, because my lawyers have been dealing with that issue. I don’t even know what the merits of the case in the UK are… My lawyers have asked for the Crown Prosecution in the UK to provide them with a file for the facts of that matter which they haven’t done. I have problems even here in South Africa. It doesn’t matter where you are… I follow the constitution in every country I am a resident at,” he says.
“I make sure we pay our taxes, we create employment. Persistence, drive, initiative is the only way I survive in Zimbabwe.”
The entrepreneur says he had his first company, in the UK, when he was 18 years old and he is not about to let anything pull him down.
“My dad and I started Summit Trading, a company that traded commodities. In 1999, I started Fercl Trading, an exporting company to the Middle East and Africa from the UK, at 19 years old,” he says.
In 2000, property was cheap in Zimbabwe because of the political unrest and economic downturn; Buyanga took advantage of this.
“I started buying property because it was cheap at the time. I used to go to auctions and buy and now I have hundreds of properties.”
He is also invested in business in South Africa in mining, finance, infrastructure, and consultancy. He also does business across the continent.
Lawsuits are breathing down his neck, but Buyanga lives to fight another day.

‘The Police Made  Sure I Was Absent By  Arresting Me’

In 2001, a man looking to buy a bank in Nigeria created a buzz in the financial world. The news caught everyone’s attention because this individual did not come from a wealthy background but was a 32-year-old banker who, through hard work, had become one of the most respected financial professionals in the country. His name was Aigboje Aig-Imoukhuede and he was on his way to creating a legacy in Africa.
His journey began while still a boy, in 1971, just after the Nigerian Civil War, when an epiphany struck him as he was stranded at an airport in Kaduna, Nigeria.
“I went to the airport to come home from school and I remember vividly that Nigeria Airways was the only airline available, which was a state-owned monopoly, and they had atrocious services. I got to the airport and I was left to go get my ticket at the age of 11. With all the hustle and bustle, I didn’t get on the plane and I remember standing on the tarmac, with the other losers, with my suitcase and I was crying because I wasn’t on it,” says Aig-Imoukhuede.
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“People ask me ‘why were you crying? Did you think you were never going home?’. But that wasn’t why I was crying. I asked myself, ‘how come there were other people on that plane and I was left on the tarmac?’ I said to myself ‘it would never happen to me again and I will never be left on the tarmac’. I surround myself with people who think the same way, people who are not prepared to be left on the tarmac.”
With this newfound philosophy, Aig-Imoukhuede’s path started to take shape. At the age of 12, that path became clearer when another realization dawned on him.
“We didn’t have to be rich to go to good schools, go abroad on a holiday, or for your father to own a Mercedes-Benz. But with the economy in very poor shape by 1983 and the structural adjustment program by 1984, the ability of a civil servant to keep their family in that lifestyle was greatly challenged. So we had to adjust and I noticed that adjustment and that was the first time it dawned on me that some kids came from parents who were wealthy and certainly my parents were not. I observed that my father’s brother, who went into the private sector, did not struggle. So I made a career decision at 12 that I was going to work in the private sector.”
Aig-Imoukhuede looked at the leaders of the top multinationals at the time – they all had a legal background so he decided to study law at the University of Benin. After qualifying as a lawyer, he joined the legal department of Continental Merchant Bank in 1988.
“I wanted to be an executive director of a multinational. Merchant banks recruited the crème de la crème. I remember after applying, one of the guys who interviewed me told me that he saw something in me. I was posted to the legal department and that is where everything changed&#8230; From that point, people will tell you, that in terms of professional output, I wanted to be number one,” he says.
Aig-Imoukhuede stood out among his peers. When some members of the senior management team were leaving to create a new bank, Aig-Imoukhuede was headhunted to join the team as the youngest member of staff.
“One of the assignments I was given, one year after they took me, was to get a commercial license for the owner of the bank. So, at 22, I did just that. I relished the challenge. I didn’t think there was anything I couldn’t take on. I was like ‘bring it on whatever it is’.”
Aig-Imoukhuede had caught the financial bug; he wanted to move from the legal side of business and immerse himself in the banking game.
“My friends in banking were 10 years older than me and most were assistant general managers. But I brought something to the table, so they tolerated me and gave me advice. Some of them broke away from the bank to start Guaranty Trust (GT) Bank and they said I should come over with them. I went to GT Bank and I was given the responsibility of setting up what will later on be called retail banking or commercial banking. I hadn’t done it before, I had four people in this team and we started with me leading these people. Very quickly we became the most profitable unit in the bank and every three to six months we were revising our targets,” says Aig-Imoukhuede.
With a high staff turnover in the Nigerian financial markets and a culture of poaching at the banks, those who showed loyalty were able to climb the corporate ladder. Aig-Imoukhuede used this opportunity to work in many areas of the bank, including the treasury, financial control and strategy departments. By the age of 32 he was an executive director who was responsible for running the bank in the absence of the managing director and deputy managing director.
His rapid rise, he says, is down to self-belief.
“Some people call it arrogance and I say no, it is just simply confidence. I believe if I set my mind on something… I can do it.”
“I also had this sense to prove that Nigerian professionals were as good as banking professionals or financial professionals anywhere in the world. I didn’t want to be held by Nigerian standards. So if I look at something like a product or an event or a team of people, say I was running the investment bank in GT, I would say how does the investment bank in JPMorgan function and I would say this is how my investment bank must function,” he says.
Aig-Imoukhuede enrolled in a three-month management program at Harvard University to figure out his next move but he would find the answers he needed in the pages of a book.
“My late brother-in-law who had just finished an MBA at Harvard had a conversation with me and I told him I was not happy professionally and it was difficult to come to terms with that because I had just been made executive director and I was the youngest at the time and happily married to his sister, so why would I not be happy?”
“He gave me this book called Buyout, by Rick Rickertsen, who had left Harvard Business School a few years before I went in for this program. It’s a book written for professionals and there was a paragraph that says if you are the type of professional that wants to continue working for other people and help them build their worth, where you get your nice salary and bonuses, then this book isn’t for you. But if you are the type who wants to get into the game and you want to work for yourself then this is for you. After reading the book, I said I know what I want to do; I am going to buy my own bank.”
Aig-Imoukhuede looked at how he would do this and decided he was not going to do it alone.
“Very quickly in life, I determined that there are two types of people you meet, people who enable you and people who disable you. People who disable are not bad people; it is just someone who doesn’t impact you in a way that helps you succeed. Somebody who enables you is somebody who, by your interaction with that person, actually gives you leverage to step up. By the time I left university, I didn’t have time for people who disable me. I also began to build a portfolio of enablers,” says Aig-Imoukhuede.
One of those enablers was his business partner Herbert Wigwe. The pair initially met in 1989 when Wigwe was a credit officer and later on in 1991 when they worked together at GT Bank.
“He was my closest friend in the bank and the professional colleague I most respected and I believe vice versa. So in terms of selecting a partner, he was the best person I could choose. I told Herbert, ‘listen we are doing this and we are doing everything we need to run a bank and the only way we can get that reward is if we are risking our own capital. So let’s get out and buy a bank, let’s do it together’. So Herbert’s entrepreneurial juices started running. We didn’t resign immediately, we were still giving GTB 100 percent, and nobody knew and we were talking to owners of banks,” says Aig-Imoukhuede.
Initially, Aig-Imoukhuede was only interested in banks that were doing well but the inflated prices made them rethink their strategy. At the time, a lot of banks were struggling and it didn’t take long for these young Turks to find one that was suitable for them.
“I had never [considered] Access Bank and it was never an institution I had an interest in. Somebody said this bank had done a public offer looking to recapitalize and they had not been doing well therefore 51% of the bank was up for grabs if you could raise the money. We looked at it and, with limited due diligence, we said ‘fine we can do it’. It took everything we had; we borrowed money and put it together and invested it,” says Aig-Imoukhuede.
Now that they owned a bank, the entrepreneurs had to build trust.
“First of all, the acquisition was deemed to be hostile. We were working somewhere and we were young and we were not the children of rich men, we were 34 when we started and in the eyes of the public, when they knew the full story, all hell broke loose and it wasn’t very easy.”
While trying to gain credibility with the public, they also had to win the votes of the board.
“I delivered a presentation I had been practising for one week. We hadn’t slept in maybe four days. We came up with a transformation agenda and we convinced the board. We presented our track record and the fact that we were risking our own money and everything we had on this venture, so there was an alignment of goals between what we wanted to do, our personal aspirations, and what the bank needed.”
With a resolution signed, Aig-Imoukhuede was appointed Managing Director and Wigwe Deputy-Managing Director. They could now start to transform Access Bank into one of the top banks in Nigeria within five years.
The impact of the bank’s new owners was obvious in just one year. According to Access Bank, the bank doubled its balance sheet, with profit before tax more than the cumulative profit made by the bank in the previous 13 years. The bank’s shareholders fund today stands at over N430 billion ($1.4 billion) with an expanded shareholder base of over a million domestic and foreign investors.
Aig-Imoukhuede attributes the success to three things.
First was the vision.
“Initially our vision was to transform the bank into a world-class financial institution. The idea of this horrible institution taking on the renowned banks was mind-blowing and our mission was to go beyond the ordinary and deliver the perceived impossible and quest for excellence.”
The second factor was the people. Between 2002 and 2012 Aig-Imoukhuede interviewed every person the bank recruited, ensuring they hired the best of the best. Then, finally, the timing was perfect.
“I was in GT Bank representing the bank for the interaction with the government. I could see from what President [Olusegun] Obasanjo was doing that Nigeria was going to enjoy an economic renaissance that was going to be phenomenal. I said to myself if I am going to buy a bank, I am going to do it before these changes in government take off, because otherwise the train would have left the station and it is not that you can’t do it, but it would be much more expensive and difficult to do it if you got your timing wrong.”
With his objectives achieved, Aig-Imoukhuede stepped down as CEO of Access Bank in 2012. He wanted to try something new.
“I am so entrepreneurially driven and not just in the sense of making money, but I knew I would get bored eventually. Also from the perspective of managing an institution as CEO, I don’t think anybody can successfully manage a business beyond 15 years; you will begin to make more mistakes than you should. You will begin to experience diminishing returns. I think a CEO owes the responsibility to his stakeholders to leave at the top of his game. And I knew 15 years would be the maximum. The third reason was that there was a requirement that had been put in place by the central bank that, after 10 years as CEO, you had to leave”, he says.
Aig-Imoukhuede needed to figure out what life after the bank would look like. He knew it had to involve helping and transforming people.
His next venture combined his belief that nobody should be left behind with his vision to build something that lasts for generations. This led to him founding Coronation Capital, a Mauritian-based private equity investment management and advisory company.
“I like sustainability and I don’t like one-hit wonders, things that come and go or a shooting star. I believe in generational institutions, it has to be sustainable and something that would last and leave a legacy.”
“In Coronation Capital you have people that we have told ‘this is how we do it, look at the Access Bank story and let’s find out if there are any more opportunities’. So, when we find the opportunity, we see if we can come up with any compelling stories and then we look at the vehicle we invest with and we attract the people to that investment. We call it the Coronation way,” says Aig-Imoukhuede.
One of those opportunities is Wapic, a company that Coronation Capital is trying to turn into an insurance giant. It is currently the second fastest growing insurance company in Nigeria, says Aig-Imoukhuede.
Aig-Imoukhuede believes that efficient management of the capital market is the only way for Nigeria to become an advanced economy. As the current President of the Nigeria Stock Exchange, Aig-Imoukhuede is well placed to develop the country’s capital market.
“If you are worth $1 million, it will be represented by financial assets of some sort which you will keep somewhere. It could be your pensions or your savings account and you earn and continue to build. If I am someone in Kogi State who needs money to build a factory, I am not going to be able to find you and you are not going to be able to find me to get access to that $1 million. So the capital markets create the infrastructure by which the sources and users of these financial resources interact. The more developed the financial markets are, the more developed the economy becomes.”
Having just turned 50, Aig-Imoukhuede is  launching the Africa Initiative for Governance (AIG) to attract talented people to the public sector.
“I have had a front row seat and seen how the public sector works and I know its weakness and what is clear to me is simple, whenever you have gifted people in the public sector, just like you have gifted people in the private sector, transformation takes place. The difference is that in Africa every gifted person is going into the private sector and nobody is going into the public sector. So I am dedicating resources towards a scholarship and a fellowship, which we have signed with Oxford University’s Blavatnik School of Government who have a fantastic one-year post graduate program, called the Master of Public Policy (MPP).”
Those given scholarships for the MPP course are required to work for the public sector in their respective African countries for five years.
Aig-Imoukhuede is humbled by how far he has come. Spending time with his wife and three children is a priority for him but is not ready to relax yet. For Aig-Imoukhuede it is all about building a legacy and creating an advanced economy in Africa.

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‘When We  Started,  All Hell  Broke Loose’

Rakesh Wahi, founder of the Johannesburg-based ABN Group including CNBC Africa, FORBES AFRICA and this magazine you hold in your hands, has been a leader in media, IT, telecoms and education. Also based in Dubai as Chairman of CMA Investment Holdings, prior to moving to the UAE, Wahi served in the Indian Armed Forces for about nine years, and was awarded the Vishisht Seva Medal by the President of India in1985, for distinguished services to the country in peacetime.
Wahi has built companies in over 22 countries, employing a little over 1,000 people. It’s his vision to set up educational institutions in Africa; the first of which he launched in Ghana in 2013.
Here, Wahi tell us about his debut book, Be A Lion, which will be unveiled at the finale of the 2016 CNBC Africa All Africa Business Leaders Awards in Johannesburg on November 11.
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<h3>A few words on the book&#8230;?</h3>
It’s about people and the impact they have had on me. I think this entire journey I have made is about how people have influenced me. First, on your way up, it’s your parents who are your greatest influencers as that’s where you get your identity from; and then, over a period of your lifetime, it’s the people who come into your life and make an impact, some positively, some otherwise. And that is the greatest experience you can talk about.
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<h3>Why the fascination for the lion?</h3>
Every human being is inspired by animals, be it rhinos, elephants or gorillas. For me, the fascination has always been the lion. It’s something that’s inherent and perhaps speaks about my character in many ways. A lot of the conversations in the book are extrapolated towards the king of the jungle, the human jungle.
<h3>Do you often find that business can draw lessons from the military?</h3>
Absolutely! You will find that a number of army officers have made great business leaders; the reason is that the core of any business is people, and the one thing the military teaches you is to look after these assets. And right from the day I joined the forces to when I left, the only thing ingrained in me was how to motivate people towards a common objective. Military officers know it’s important to look after their people, starting with basic things, such as making sure they got hot food, they wrote home, they went to pray&#8230; These are the softer things of life that business sometimes tends to forget. The army teaches you these core values. And that’s the inherent need in business. If somebody is working for you – even if it’s one person on the job – you have to be there with him.
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<h3>While in the army, you once almost stared death in the face. What was that experience like?</h3>
It was a defining moment in my life. I was about 23. We were on a specialized task force in India’s western front. I was electrocuted and they couldn’t revive me quickly; I was clinically dead. And then my second-in-command saw my fingers move. I came to in 24 hours, and although they asked me to go home to rest, I returned to my troops in 72 hours.
But I realized at that young age that life is not something you take forgranted, therefore, whatever you want in this world, you have to set out to achieve it. At the end of the day, you are either there or not there; if you are not there, and if there are unfulfilled dreams, they will always be unfulfilled. You must always set out to do what comes to your heart.
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<h3>Your advice to entrepreneurs in emerging markets…?</h3>
If there is one lesson you will learn in emerging markets, it’s patience. Always remember to look at business for the long-term, make sure you have ticked all the right boxes, do your homework – don’t take short-cuts. When you go into these difficult regulated industries, people will tell you ‘we can fix this and that’. I have never ever gone to Mr Fix-Its. There is no quick-fix solution for setting up sustainable businesses and the reason for that is there are a lot of variables and if you haven’t set your foundations strong, you open yourself up to retroactive actions that result in many issues including corruption. And people talk a lot about corruption in emerging markets. But the businesses that we have been in, for the last 26 years, we have never once had to pay anybody to do anything for us, and the reason is that we have taken our time setting them up and making sure our foundations are strong.
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– Interviewed by Methil Renuka; Read more about Wahi in the November 2016 issue of FORBES AFRICA.

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5 Minutes With Rakesh Wahi

More than 22 million people in Africa have diabetes; equivalent to the population of Angola. It’s a startling enough statistic, and South Africa’s First Lady Bongi Ngema-Zuma is championing the fight against this silent killer, through the Bongi Ngema-Zuma Foundation.
It’s a hot Sunday afternoon in Waterkloof Ridge, east of Pretoria in South Africa, when we meet Ngema-Zuma in her mansion. She settles in her lounge singing a church song and wearing a black dress and beaded necklace.
Diabetes has been close to home for Ngema-Zuma; she lost her mother and aunt to the disease. This led her to start a foundation in her mother’s memory; she had battled with diabetes for nearly three decades.
“I come from a family that is highly affected by this disease. When my mother gave birth to my younger sister, she had gestational diabetes. But it went away. And then in 1973, when I was in grade one, she was diagnosed with type two.
“At the time I did not know what diabetes was or to read the correct glucose levels. But I observed how she changed her lifestyle. She had the disease for so many years, and was never on insulin because she was active and [watched] what she ate,” says Ngema-Zuma.
In 1982, her mother’s condition got worse, she went blind in a way, and the disease also led to a sore between her toes; and the doctors had to amputate a toe.
“They had to cut off her foot as well&#8230; we knew she wasn’t going to make it. She said the day they start cutting her body, we should allow her to rest in peace.”
The Bongi Ngema-Zuma Foundation, a non-profit organization founded in 2010, the same year she took to the spousal office, aims to fight diabetes.
“Before I started the foundation, no one was speaking about diabetes, I had never seen an advert about it which meant there was not much being done about it, so I thought it was the right time,” says Ngema-Zuma.
The foundation encourages people to test early.
“By the time you start seeing symptoms it means that the disease has been in your blood for a long time, now the signs are indicating that your body is deteriorating. And if complications start to show, it might be too late. People should test so that they can prevent it from progressing, and adopt a healthy lifestyle,” she says.
Considering her family history, Ngema-Zuma acknowledges she is not prone to the disease, which is why she is an advocate for it.
Ngema-Zuma is the fourth of five wives married to South African president Jacob Zuma, a role that is not easy.
“As the first lady I had to understand that the public voted for my husband to be president, not me. Thing is, nobody trains you for what people expect from you, and sometimes expectations can be too much. The best is to know who you are, what you want to achieve and just focus.”
She uses her office to empower women and children, and for rural development.
“It is sad that in more than 50 countries, I’m the only first lady who speaks about diabetes.
“I know that while I’m in this office, I have a little amount of influence to say something and make change,” says Ngema-Zuma.
Ngema-Zuma is also a member of the International Diabetes Federation. When not buried under paperwork in her office, she travels overseas, in the United States, to give talks on education and healthcare development.
Her dream is to open a diabetes center of excellence.

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Using Her Good Offices

<h2>Q&amp;A With… Busi Mabuza</h2>
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<h4>IDC Chair Busi Mabuza on diversity and development.</h4>
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<h4>There are many female executives at the top at the IDC; how is the organization driving gender to resolve challenges in the African economy?</h4>
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<li>The pleasing part is that the more we improve, the more we see opportunity to get better. Just over half of our staff complement at the IDC is female. We have focused on nurturing talent in a fair and equitable manner. The CEO [Geoffrey Qhena] pays specific attention to promoting equity in the management and executive levels of the organization. My interest is to also ensure that our professional level, which is our natural leadership pipeline, continues to be representative.</li>
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<h4></h4>
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<li>
<h4>How does the IDC develop female entrepreneurs and ensure they contribute to the economy and nation-building?</h4>
</li>
<li>The funding of women-owned business is one of our specific corporate key performance targets which we monitor and report on. This has focused everybody’s mind and is an integral part of our conversations at board meetings. We recently hosted a conversation session with women entrepreneurs specifically focusing on manufacturing. Management is now synthesizing the very constructive inputs received. We aim to be an accessible funder and to be one of the first ports of call for entrepreneurs requiring funding in our areas of focus.</li>
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<h2>Zama Luthuli</h2>
Past the tight security at the Industrial Development Corporation’s (IDC) stately headquarters in Sandton, Johannesburg, and up a couple of floors, we meet Zama Luthuli as she steps out of one of the glass-enclosed offices. She is slender, in a striped skirt and killer heels; one could have easily passed her off as a model.
Luthuli laughs when you suggest this. She has considered becoming a model and owning her own makeup and clothing line, she admits, so we are not far from the truth.
At 40, this self-confessed fashionista is the IDC’s youngest executive. As Divisional Executive: Corporate Affairs, she holds a critical role. This is evident when she points to the files she has in front of her, of entrepreneurs the IDC has developed. She speaks animatedly about them. This job, clearly, is more than a job for her.
“I see it as a contribution to the continent,” she says, which makes the long hours and lengthy Exco meetings worthwhile.
“It’s something bigger than us, it’s about other people. We work long hours, we get so tired but we look at people’s businesses and see the impact in their lives, and then the long meetings no longer matter.”
The IDC is a 75-year-old national development finance institution in South Africa set up to promote economic growth and industrial development.
Luthuli was only 37 when she assumed an executive role for the first time, in her previous job, at PetroSA. She joined the IDC in July last year, working with four heads in marketing, CRM, CSI and facilities management. Her work is in perfect alignment with her goals.
“A woman’s role is in the kitchen? A woman’s role is in bigger kitchens nowadays, [kitchens] that make stuff, create stuff and create employment,” says Luthuli, referring to the umpteen factories and industries that women lead today.
It’s a far cry from when her mother struggled to send her to university. Born in KwaZulu-Natal, Luthuli worked very hard in order not to disappoint her mother, and graduated in communications.
Thereafter, she says she was always fortunate finding employment.
That’s also because she was willing to take risks. “I always knew I wanted to be in a corporate environment.”
But she has a piece of advice for young people. “If you want a job, make one,” she says.
“With challenges, you learn, you grow, you adjust. There will be a woman who has been there before, so rely on her skills. It’s important to have a mentor. You need to understand the lay of the land, understand the organization.
“And always look for a business opportunity in what you do while you are employed. There are so many creative ideas we encounter on a daily basis. Whilst you are working, work on your dream, work on an idea, have a back-up plan.”
What are some of the most offbeat entrepreneurial ideas Luthuli has seen come her way?
“We find quite a few blueberry farms in South Africa!” she offers.
A single mother, with two girls aged 13 and nine, Luthuli says it’s important to rely on support systems. She took up an MBA degree after the birth of her children. But in the end, it’s about finding what works.
“Balance is something you create that’s relevant to your own situation and environment. Balance is also taking into account your own personal journey at a given time.”
The articulate executive says she has gone through enough pain and loss in her life that she knows it’s teaching her something every day.
“Our challenges may be different but let’s not dim our lights, let’s help each other,” says Luthuli, and you know that’s exactly what she’s doing at the IDC, lending her creative energies and late hours for Africa and its people.
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<h2>Lizeka Matshekga</h2>
<img loading="lazy" decoding="async" class="alignnone wp-image-32014 size-large" src="http://www.forbesafrica.com/app/uploads/2017/05/IDC-046-1024x681.jpg" alt="" width="1024" height="681" srcset="https://cms.forbesafrica.com/wp-content/uploads/2017/05/IDC-046.jpg 1024w, https://cms.forbesafrica.com/wp-content/uploads/2017/05/IDC-046-300x200.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2017/05/IDC-046-600x399.jpg 600w, https://cms.forbesafrica.com/wp-content/uploads/2017/05/IDC-046-768x511.jpg 768w" sizes="(max-width: 1024px) 100vw, 1024px" />
Ten minutes into the interview and it’s easy to tell Lizeka Matshekga is a soft-spoken powerhouse. While that may sound an oxymoron, this is a person with enough years in the financial services industry and multiple accolades in her trophy cabinet.
“I don’t want to call it success,” says Matshekga, with a quiet confidence.
“I am hungry. When you have hunger, you keep growing. I am hungry for information and knowledge. It has nothing to do with success. It’s really about wanting to know more every day.”
Matshekga has been with the IDC for 10 years, and is the Divisional Executive of Agro, Infrastructure &amp; New Industries.
With a master’s degree in Development Finance from the University of Stellenbosch, an honors degree in Financial Analysis and Portfolio Management from the University of Cape Town, and a BCom degree from the University of Western Cape, she has had 22 years in the financial services sector, in areas such as investment banking, treasury, turnaround and restructuring management, BEE financing and post investment management.
Last year in November, at the IDC, Matshekga scooped four awards, the most anyone won that year.
From Gugulethu, a township in the Western Cape, she stumbled into finance studies quite by accident.
“I wanted to be a scientist or doctor. I applied for BCom by mistake. My mother asked me to try it for a week, and I loved it! It was in my destiny.”
Matshekga’s mother, now 68, was a domestic worker who raised the children on her own.
“I had no access to bursaries. It was my twin sister’s biology teacher who helped me get the R1,000 ($73) registration fee for my BCom. It’s people like that I am grateful for today because he saw something in me. That’s the seed I needed.
“I always have this notion that your circumstances do not define your future. Almost every black child has faced poverty in childhood. In Gugulethu, most kids didn’t have hope. I was hungry to make a difference.”
She came to Johannesburg, which further fueled the hunger in her. Matshekga worked with Standard Bank Corporate Merchant Bank, and was with the National Empowerment Fund for three years. She joined the IDC and “has not looked back since”.
“I have been through the entire investment cycle at the IDC,” she says.
In 2011, she was asked to head up forestry within the IDC. She had never been exposed to the sector or been “a deal-maker”, so she thought: ‘how do I start?’
The unit was at its lowest in terms of performance when she took over, going up to “Top 5 in operations in the front office” by the end of the year, remaining that way for a while. Soon, Matshekga was also asked to take over the green industries sector, now called industrial infrastructure. Her mantra?
“I create an environment for my people to feel they are adding value and can be creative. It’s not my way or the highway&#8230; I also don’t limit myself to my focus area, I always look for things beyond my zone.
“I always tell youngsters at the IDC that your mentor needn’t be a senior, your mentor could be a peer. When you have friendships, let it add value. Don’t be shy to ask a team member. There are no stupid questions. You always come out of that engagement empowered.
“I always use the tested approach,” she says. “The IDC has invested so many development tools in ensuring where I am today.”
She is passionate about the new emerging industries of the future, and believes it will be her legacy.
A mother of three children, aged 16, 11 and three, Matshekga puts in enough late nights, knowing the larger purpose of her work. Thankfully, she says she has a supportive husband, which helps as her diary is more hectic than his.

IDC-039

Going Above And Beyond

Regardless of whether Hillary Clinton becomes the next president of the United States (US) or not, women are slowly but steadily taking up political power.
The numbers of women leaders are still relatively low – only one-tenth of all leaders of the United Nation’s 193 member states are women and Clinton would be only the 19th female to currently govern her country. Research shows that over 60 of 142 countries have had women leaders at some point over the past 50 years, although most have held power for less than four years. Recent figures from UN Women also show that only 17% of government ministers are women, with most of their portfolios relating to social issues. And only two countries have a female majority in Parliament – Rwanda and Bolivia – although many countries have reached the one-third mark.
Clearly, there is still a long way to go. But here in the US, findings by the Pew Research Centre show that most women believe that whether Clinton achieves her second run for the presidency or not, a woman will be president at some point in their lifetime. According to one CNN poll, eight of 10 Americans think the country is ready for a woman president, but only one third think it’s a priority. Younger American women, it seems, take for granted the growing role of women in positions of power – both in government and business.
Among Clinton’s many detractors are those who would like to see a woman president but don’t necessarily believe she is the right woman for the job. Others are more appreciative of how much has changed since women first got the vote in 1920 (black women from the South faced voting hurdles until the 1960s), and are impatient to see Clinton in the White House as another important milestone on the path towards gender equality.
“When any barrier falls in America, it clears the way for everyone,” Clinton said when accepting the Democratic nomination for president in Philadelphia in July. A woman in the White House, she said, would be “another step in our journey as a nation”. She also said that her election would give “other women and girls the hope that, whatever their goals, they can achieve them in this country”.
Some political observers believe that when Barack Obama felled the race barrier by becoming the first black president of the US in 2008, the sense of urgency around getting rid of the gender barrier by appointing a woman president dissipated. Clinton has also struggled to overcome deep unpopularity among many voters – both men and women. Her alliance with big business has left many working class voters feeling that she does not have their best interests at heart.
That said, the blatant sexism shown by her rival, Republican nominee Donald Trump, has shined a bright light on the status of women in the country.
When Trump accused Clinton of playing the “woman card”, her quick online reply was seen as a boost for her campaign.
“If fighting for women’s healthcare and paid family leave and equal pay is playing the ‘woman card’, then deal me in,” she said. In no time, a plastic “support Clinton woman card” became another must-have accessory for her supporters.
Trump’s glamorous daughter Ivanka, a powerful businesswoman in her own right, has tried to cast her father’s macho politics in a more woman-friendly light. When she introduced him at the Republican convention in Cleveland, also in July, she listed a host of Democratic-sounding, pro-women policies on childcare and family leave that she said her father would introduce, even though none of these policies are on the Republican agenda.
Clinton’s daughter Chelsea, similarly, has tried to show Clinton’s softer, more human side, describing her as her “wonderful, kind, thoughtful, hilarious mother” when she introduced her at the Democratic convention.
The friendship between Ivanka and Chelsea is much in the media spotlight. Both are powerful, accomplished young women who have made the most of their highly privileged backgrounds. Despite a bitterly-fought election campaign and the obvious rancor between their parents, their friendship supposedly endures. “I’m not running for public office, and neither is she, so of course we’re still friends,” Ivanka said in one interview.
Ivanka is vice president of her father’s real estate empire, the Trump Organization, and Chelsea is vice chair of the multi-million dollar Clinton Foundation. One of them will play a pivotal role in the new presidency. And, whatever the election outcome, both these young mothers are likely to be highly-influential individuals – whether in business or politics – in the years to come. The same could apply to Obama’s two young girls, Malia and Sasha, who will come of age in an era where race and gender won’t be the obstacles they once were.
Elsewhere in the world, progress on narrowing the gender gap in political leadership is being made. Women are at the helm in powerful countries like Germany and the United Kingdom. Although none of the frontrunners for the next United Nations Secretary General are women, it is still possible that a female could land the top diplomatic post. Former New Zealand Prime Minister Helen Clark, who is head of the world’s largest humanitarian agency, the UN Development Program, is a formidable leader who has her hat in the ring.
At the recent Social Good Summit in New York, Clark discussed the role of women in political power with another former woman president, Malawi’s Joyce Banda. Speaking to Barkha Dutt, an award-winning Indian television journalist, the two former state leaders shared their wisdom and advice for other women eying political office. They pointed out that many other countries have made more progress than the US in this regard, with Dutt reminding the audience that in Asian countries like India and Bangladesh women, have held office for years.
Clark, who campaigned in a climate where bumper stickers like “Ditch the Bitch” prevailed, said women in pursuit of political leadership had to brace themselves for many obstacles.
“Don’t accept people are going to roll out the red carpet for you. You have to roll out the red carpet yourself and kick the door down.”
Clark said women had to “turn a deaf ear to all the frankly misogynist things that are said about you. Everyone will have an opinion on how you look, how you dress, whether your teeth are crooked. You just have to look straight ahead, put your earplugs in and say I believe I can do this,” Clark said. On the UN Secretary General position she said she believed she had the right profile for the job. “So I’m standing my ground and saying I’m available.”
Banda, who walked out of an abusive marriage before becoming a leading politician and president of Malawi from 2012-14, said she did so at a time “when you didn’t walk out – especially in Africa”. Banda said she strongly believed that more African women had to become leaders. “Number one, because we have been leaders before. If you look into the history of the world before colonization we were already queens and leaders; we were leading our nations,” she told the audience. She also said it was crucial to support other women in their pursuit of top political jobs and not “dropping the ladder once we’ve arrived”, as former South African First Lady Zanele Mbeki once put it.
While Dutt wondered why so many successful women seem to feel the need to apologize for their ambition, Banda said she believed African women could benefit from a softer, more diplomatic approach or they would lose the battle before it had even begun. “Do I want to be shouting and antagonizing the people who need to open the way for me? That is the decision that we African women have to make.”
Banda, who herself lobbied for gay rights, recalled the time in 1995 when Clinton said that “women’s rights are human rights and human rights are women’s rights”. At the time, Banda said she thought Clinton was “out of her mind”.
“I didn’t think I would see in my lifetime a time when everyone would accept that women’s rights are human rights”, but Clinton was right ahead of her time, and that time has arrived.

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