On a warm Johannesburg afternoon, in stoops the millionaire African author who wears his eminence, as well as his shoes, lightly. The laces on his shoes are undone as he walks in with his fourth wife Mokhiniso Rakhimova, 39 years his junior, at his side.
This is Wilbur Smith, one of the world’s best known novelists, who writes about Africa’s elephants, poachers, soldiers, mercenaries and leaders. He says the most treasured advice he got from his publisher was “write only about those things that you know well” and since then he has been writing about Africa where he was born and bred.
Readers have devoured his 38 books in aeroplanes, hotel rooms and trains, from New York to London. He has sold more than 120 million copies; that is the equivalent of eight copies each for every man, woman and child in the country of his birth – Zambia. Half a century of prolific writing, but it could have been one of the shortest stories told.
<div id="attachment_4464" style="width: 222px" class="wp-caption alignleft"><img loading="lazy" decoding="async" aria-describedby="caption-attachment-4464" class="size-medium wp-image-4464" src="/wp-content/uploads/2017/04/GettyImages-80747058-212x300.jpg" alt="" width="212" height="300" />Literature, Personalities, pic: February 1964, Rhodesian born author Wilbur Smith pictured with his first book &#8220;When The Lion Feeds&#8221; (Photo by Bentley Archive/Popperfoto/Getty Images)</div>
In his first few months of life in Zambia, where he was born to his metalworker father, in Kabwe in Zambia’s copper belt, the doctor told his parents that the small child would be better off dead. Smith was diagnosed with cerebral malaria. The doctor warned that if the child survived he would be brain damaged.
Smith made a miraculous recovery to be a prolific novelist. He married four times and divorced twice. The third wife died from brain cancer in 1999.
His stepson from a previous marriage dragged him to court for his assets and they’ve been foes ever since. Even worse, three of his own children have abandoned him after quarrels.
His novels are divided into three series: The Courtney; The Ballantyne and The Ancient Egypt.
The 84-year-old Smith returned to his Ancient Egypt series with his new novel, Pharaoh, transporting you to a time of threat, blood and glory.
Smith’s breakthrough was 54 years ago, after the success of his first book, When the Lion Feeds, which saw him receive a film contract. But it was banned in apartheid South Africa on the grounds of ‘obscenity’ for mixed-race relationships and blasphemy.
Smith was schooled in Michaelhouse, in the South African province of KwaZulu-Natal, where he started the school’s newspaper.
In 1954, he graduated with a Bachelor of Commerce from Rhodes University before working for his father’s cattle ranch as a chartered accountant. But his real love was reading and writing books.
He credits his mother for reading him bedtime stories every night.
“Before I could read she taught me to revere books and the written word. Through her influence I became a reader at a precociously young age. I started with ‘Biggles’ and ‘Just William’. Pretty soon I moved on to the novels of C.S. Forester, Rider Haggard and John Buchan. From then onwards I always had a well-thumbed book in my pocket,” he says in his biography.
His father, as well as the mosquitos, was against him being an author.
“He felt that my obsession with books was unnatural and unhealthy. I was forced to become a secret reader. I spent so much time in the outhouse long-drop latrine, where I kept a cache of my favorite books, that my father ordered my mother to administer regular and copious doses of castor oil.”
Pharaoh is part of a six-book deal, worth £15 million ($18.6 million), signed in 2012. Unusually, they will all be written with the help of co-authors.

The Multi-Million-Dollar Author Who Defied Death

<h2>Q&amp;A With… Busi Mabuza</h2>
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<h4>IDC Chair Busi Mabuza on diversity and development.</h4>
<ol>
<li>
<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>
</li>
<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>
</ol>
<h4></h4>
<ol>
<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>
</ol>
<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.
&nbsp;
<h2>Lizeka Matshekga</h2>
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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

German Chancellor Angela Merkel invited one of the greatest collections of women leaders ever for a G7 meeting inside her vast concrete-and-glass Chancellery last September. You could find the director of the World Health Organization (Margaret Chan) and the CEO of General Motors (Mary Barra). The prime minister of Norway (Erna Sold berg) and the former prime minister of Denmark (Helle Thorning-Schmidt). A Nobel Peace Prize winner (Liberian President Ellen Johnson Sirleaf) and a queen (Rania of Jordan).
And at a circular table set for about two dozen, sitting directly across from Merkel: a former Microsoft manager turned philanthropist, Melinda Gates.
After Merkel danke schöns her guests and listens to reports on women’s political participation, health and economic empowerment, she opens up the floor. Gates, wearing a fitted inky-blue suit and reading glasses, speaks first, giving a precise, impassioned four-minute address.
“When you get women in roles of leadership, we make things happen,” Gates says. “It takes us using our voice, and it also takes us making investments, huge investments, in women and girls.”
Alone in this room of world leaders, Gates can single-handedly make that happen. Prime ministers have parliaments; CEOs have boards; Melinda Gates has a $41.3 billion endowment, and she can deploy it in pretty much any manner that she and husband Bill, the world’s richest person, see fit.
This represents a personal transformation. For the first decade and a half of its existence, the Bill &amp; Melinda Gates Foundation deployed its remarkable scale toward eradicating polio and malaria, and experimentation in education issues. But over the past few years, Melinda Gates has embraced having her name on the letterhead of the largest-ever charitable foundation, along with the influence that comes with that. She has become the most powerful person on the planet whose singular focus is women and girls.
“I kept looking for the advocate who would champion these issues,” she says over lunch at the iconic Hotel Adlon Kempinski, during a break from Merkel’s forum.
Gates, 51, has the air of a down-to-earth technocrat, traveling without an entourage but rather with reams of data and determination.
“I knew it had to be a woman. We would talk inside the foundation, ‘Could we get this person or that person?’ I considered other women leaders. But I couldn’t find the one who embodied to me the voice of women around the world. And so I thought, ‘If I’m the one, then I just need to do it. I have to have courage and not worry’.”
Women account for six out of 10 of the world’s poorest and two-thirds of the illiterate. “Excessive female mortality” in the developing world, in the parlance of the International Monetary Fund, means some 3.9 million women and girls are “missing” annually: about two-fifths are never born, one-sixth die in early childhood and more than one-third die during their reproductive years.
“What’s the most pressing issue of our time?” asks Gates. “It really is ending poverty in the world. And we know to do that you have to put women and girls at the center.” Poverty is sexist, and Gates is betting billions that it can be stemmed through the gender historically ignored.
Melinda French Gates was born and bred in Dallas, the daughter of an aerospace-engineer father and a homemaker mother who helped run a family rental property business on the side.
“That was literally how they were going to put us through college, and we all knew it,” she says referencing her sister and two younger brothers. On weekends, the kids cleaned and fixed up the rental properties and kept books on the family’s Apple III.
The valedictorian of her all-girls Catholic school and captain of her high school’s drill team, Gates earned a bachelor’s in computer science and economics and an M.B.A. from Duke in five years, consciously shaving a year so she could get into the workforce faster.
“She always knew what she wanted,” says her sister, Susan French. “She just has this confidence within her. Once she sets her eyes on the next project, her next goal, then it’s all out.”
That next project, in 1987, was Microsoft, as a product manager, where the founder famously asked her out in the company parking lot.
“I worked around a lot of really intelligent guys in college because there were very few women,” she says, describing her initial attraction.
“When I look back, Bill was the same kind of guy I was hanging out with in college. I had a lot of respect for them, and they had respect for me. I was definitely attracted to his brilliant mind, but beyond that, his curiosity. And he has a huge sense of fun. I love that wry side of him.”
The couple dated for seven years before marrying in 1994 in Hawaii. In 1996, Gates, now a general manager at Microsoft, became pregnant with their first child, Jennifer, and chose to stay home.
“That was completely her decision,” says Bill Gates. “I was a little surprised, but that really made sense for her. Then came kids two and three.”
Fast-forward two decades: Jennifer is now 19 and a sophomore at Stanford, with Rory, 16, and Phoebe, 13, leaning on Mom increasingly less. Like many mothers staring down an empty nest, Gates went through a period of intense soul-searching. Now what?
And so she began digging ever deeper into the work at the Gates Foundation, which is concentrated primarily on global health and development, and making stunning progress in eradicating polio, malaria and HIV, and promoting vaccines and sanitation. It should be noted, though, that the foundation “has not been a pioneer when it comes to advocating for women’s health,” says Linsey McGoey, author of No Such Thing as a Free Gift: The Gates Foundation and the Price of Philanthropy.
Increasingly, Gates started focusing less on the foundation’s vertical efforts but rather on how to approach what it was already doing horizontally. Specifically, to fund initiatives in these areas that take the world’s most vulnerable women and girls into account. Yes, there was an empathetic component, but Gates looked through the lens of ROI.
Muhammad Yunus won a Nobel Peace Prize for microloan practices that targeted women in the developing world, recognizing they’re more likely to steward money effectively and channel it into the family. Bill Gates has saved tens of thousands of lives through immunization efforts; Melinda Gates began to encourage grants that took into account that women are more likely than men to take their kids to get immunized.
<div id="attachment_31859" style="width: 1034px" class="wp-caption alignnone"><img loading="lazy" decoding="async" aria-describedby="caption-attachment-31859" class="wp-image-31859 size-large" src="http://www.forbesafrica.com/app/uploads/2017/05/FO121415_062-1024x683.jpg" alt="" width="1024" height="683" srcset="https://cms.forbesafrica.com/wp-content/uploads/2017/05/FO121415_062.jpg 1024w, https://cms.forbesafrica.com/wp-content/uploads/2017/05/FO121415_062-300x200.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2017/05/FO121415_062-600x400.jpg 600w, https://cms.forbesafrica.com/wp-content/uploads/2017/05/FO121415_062-768x512.jpg 768w" sizes="auto, (max-width: 1024px) 100vw, 1024px" />&#8221;Women’s issues are the hard issues.”</div>
“When I was first at the foundation I thought of women’s issues as the ‘soft issues,’ and I didn’t want to be seen as soft,” says Gates. “In fact, it’s just the opposite. Women’s issues are the hard issues. You want to get at violence or child marriage? Those are hard. Warren [Buffett] always says you have to swing for the fences.”
Melinda Gates’ public coming out also traces to Berlin. For years, even as she worked at the foundation, she guarded her privacy. (“Bill was already a public figure, so I knew what that half looked like.”) But eventually she decided that advocacy for a cause means putting your face out there.
“I tell my daughters to have their voice in this world, and it became clear I needed to role-model that.”
So three years ago, she came to Germany to give a TedX talk focusing on family planning and universal birth control access. Her original $70-million-a-year commitment was doubled three months later, and she just announced an additional $120 million.
Welcome to the limelight, Melinda. The Vatican’s office newspaper, under Pope Benedict XVI, published a front page headline, “Birth Control and Disinformation: The Risks of Philanthropy”, that accused her of spreading lies. A tough rebuke for a Catholic who says she prays or meditates daily (“whatever you want to call it”).
“It’s a really uncomfortable place to go,” says Gates. “To talk about sex, reproduction, tools. But these were things we were talking about inside the foundation.”
And Gates learned two valuable lessons. First, that when she speaks, by dint of her conviction and resources, the world listens.
“In giving voice to family planning, once I saw we could actually move resources on the global stage, I thought, ‘There are other women’s issues I have to take on’.”
Second, she could take a punch. “They say how mistaken Mrs. Gates was, and she must have been misled by the people who wanted to make money selling reproductive health tools,” says Bill Gates. In response he gave her the newspaper as a gift, which she keeps framed in her office at the foundation’s Seattle headquarters. “I gave her a copy because she decided she would speak up and deal with the controversy. It’s a complex area, but she took it on.”
Those who watch the foundation reject the idea that Melinda operates as a number two to Bill’s number one. “Anyone who’s paying attention understands that she’s playing a leading role,” says Aaron Dorfman of the National Committee for Responsive Philanthropy, a watchdog for the sector.
“We certainly weren’t working as equals when we started together,” says Melinda Gates. “I was down several levels at Microsoft, and he was the CEO. We’ve had to change to really be coequals. It’s not something that immediately happens overnight, but we’re both committed to it. We needed to talk behind the scenes when it wasn’t working. But I think that’s come now.
“We literally hand meetings and issues to one another, and we’re very comfortable about when to make a decision without the other one and when we should do it together. And the together isn’t always because of a dollar issue. It’s more about, ‘Will the other person care about this decision as much as I do?’ ”
“Everything I’ve ever done, I’ve always had a partner,” says Bill Gates. “In the early days of Microsoft it was Paul Allen who helped come up with the ideas and build the early things. Then it became Steve Ballmer, who I met at college and came in and helped run the company and made it super successful. Now it’s Melinda at the foundation.”
She carries the same title as her husband: cofounder and cochair. (Bill’s dad is another cochair and Warren Buffett, who is funnelling his fortune into the foundation, serves as cotrustee.)
“She and Bill are the final deciders,” adds Susan Desmond-Hellmann, the foundation’s CEO, who started in 2014. “The approval process that starts with annual budgets and strategies involves the two of them as equal partners.”
Gates’ family planning initiatives quickly segued to those who got pregnant, specifically maternal and prenatal health. Once you spend time there, infant health is a natural extension. Then a commitment to expand educational opportunities for girls. And what are these young women supposed to do when they get out of school? Gates understands most aren’t going to get paid to work in developing countries. So she’s green-lit numerous programs that encourage micro-entrepreneurship, such as small-plot farming and mobile banking.
The result is a cradle-to-motherhood suite of initiatives for women and girls. The foundation doesn’t break out how much it spends in this area, mostly because it was so woven into its $3.9 billion in outlays in 2014. And it measures how each program specifically helps women and girls.
For example, the foundation backs M-KOPA, a Kenya-based organization that manufactures solar-powered lamps. On paper it’s a gender-neutral program providing the kind of personal power supply that relieves off-the-grid families of the costs and dangers of kerosene lamps. But it disproportionately helps girls, who often do homework at night after a day of chores.
Another partner, GSMA, brings mobile money accounts to the underbanked. Again, a bigger deal for women – just 37% in developing countries hold bank accounts, and many are intentionally excluded from formal financial systems.
“When you go on the ground, in places in India or inner Bangladesh, you kind of don’t want to hear what the women tell you,” she says. “But when you really sit and take it all in, you later go, ‘Oh my God, they’re right’. And this group of women helped me realize that all these other issues I see in the developing world, those issues need to be addressed, too. They’re all part and parcel of the same thing.”
The Gates Foundation is also keen on funding pilots in this area: Successes are rewarded with more money; failures are learning opportunities. Megan White Mukuria is typical. She founded Kenya-based ZanaAfrica Group, an initiative focused on sanitary pads. Girls in many low-income countries stay away from school during their period or even drop out, with numbers as high as one in 10 in Africa.
ZanaAfrica’s grant timeline neatly follows the arc of the foundation’s gender focus. After a $100,000 test phase grant in 2011 to develop sanitary pads from local materials such as bamboo or jute, Mukuria was turned down for a Phase 2 proposal to test distribution strategies and approaches to health education. That “no” went to “maybe yes” two months later and turned into a definite $1 million three months after that. Late 2015, ZanaAfrica received a $2.6 million grant.
“They [the Gates Foundation] initially couldn’t fund the scale-up because sanitary pads are outside their mandate in sanitation, which is all about the toilet,” Mukuria says. “But they literally just winked at each other and said, ‘We have to do this’. And if they didn’t do it, nobody would.”
Expect more such grants in 2016 through a loquaciously named program: the Putting Women and Girls at the Center of Development Challenge. Some 20 awardees will net more than $20 million in grants aimed at gender-specific projects. Small money for Gates but a signal that she’s opening up to groups that see women and girls as the primary goal rather than a beneficial by-product, and a first step toward what Gates hopes might be a clearinghouse for those looking to help in this area.
“Everyone tries to read the tea leaves to understand what’s going to be in favor or out of favor,” says Dorfman, the philanthropy watchdog, “and many groups adjust their work plans accordingly.” That dovetails with a consistent criticism of the Gates Foundation—that it wields too much power and makes too many decisions in an echo chamber.
“Whether Mr. and Mrs. Gates prefer it that way or not,” says the author McGoey, “there’s this perception that the strong directional influence played by the executives is something to be celebrated rather than seen potentially as a cause for problems.”
“My experience has been that she [Melinda] likes to get [others’] views,” says Desmond-Hellmann. “We have people at the foundation who have spent their entire careers on a technical area, say, somebody’s done tuberculosis their whole life.” Asked if anyone says no to Melinda Gates, she laughs. “People do say, ‘Yes, that’s not possible.’ That’s more likely than no.”
“[We are accountable] to the people of the world, honestly,” adds Gates. “I do hope that at the end of our lives somebody will look back and say, ‘Melinda and Bill set out to change the world on behalf of poor people. Did they? Are more kids alive because of the work they did? Are fewer people getting malaria? Are more women getting contraceptives?’ That’s who we are accountable to.”
Back in Berlin, after a state dinner at the Chancellery, Gates heads off to her private jet. Across town from the airport and a world apart from the halls of power she just left is a government complex where thousands of Syrians and other refugees are waiting to register for asylum.
It’s impossible to ignore all the women tending to overstretched strollers filled with little ones and a life’s detritus sagging in plastic bags. They have their own tent for privacy, including nursing. Men stand in overcrowded lines, anxious to be called to sign up for IDs, funds and services. Having trekked all the way to Berlin, the refugees have nothing to do now but wait.
“When you see a picture of a child washed up on the beach — or a mother — so many of the faces you see are women,” she says. “And even if they get across the border, they’re put into camps, which are especially horrible for women in terms of the violence and rape. They’re disproportionately affected. So my heart breaks. It’s not a small heartbreak, it’s a huge heartbreak.”
The Gates Foundation is engineered to move quickly — the couple has dictated that all assets must be put to work and the organization wound down within 20 years of the last cofounder’s passing. So Gates is investing some $17.5 million around the Middle East refugee crisis — an investment that the world sees as alleviating suffering, and that Melinda Gates sees as another step in improving the lives of poor women.
The article first appeared in the December 14, 2015 issue of FORBES. The year references have been accordingly changed.

FO121415_001

THE FIRST WOMAN OF Women

Finally, Nigeria’s ministerial list is out. The four-month-long search for the country’s “impeccable characters” with outstanding records of achievements in business, politics and society came to a quiet end at the end of September.
Senate President Bukola Saraki read out the names of President Muhammadu Buhari’s 21 nominees, the first batch of nominations, for the Senate’s consideration, on October 6.
Constitutionally, the president could end up making more than 2,000 appointments over the next four years of his administration, all things being equal. Every decision, every appointment a Nigerian president makes is subjected to constitutional, political, religious and ethnic scrutiny.
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After a year-long season of political campaigns and elections that left the economy largely unattended to by the Goodluck Jonathan administration, Buhari’s decision not to appoint cabinet ministers in the early days of his administration was a hugely unpopular move.
Nigerians therefore realized very early on that this was going to be a new kind of president.
“Nigeria must first put new rules of conduct and good governance in place,” Buhari told Nigeria’s Guardian newspaper in July.
“Integrity and experience will be central to President Buhari’s actions and decisions,” Babatunde Kwame Ogala, a lawyer and chieftain of the ruling All Progressives Congress (APC) party told FORBES AFRICA. “Beyond the need for a few political compromises here and there, you can see that the president is not someone that can be tele-guided by anyone or any interest group. He’s got a totally independent mindset.”
By delaying and downplaying appointments, the Nigerian leader was not only consolidating his hold on power, he was clearly hoping to replace the profligate culture of the past with a new political ethos. Previous presidents had used these appointments to settle political IOUs, compensating cronies, party chieftains and political sponsors. Consequently, the onerous task of nation building wasn’t always left in the hands of the most capable citizens.
This time around, the Abuja rumor mill was abuzz right after Buhari’s inauguration in May with tales of ministerial nominees failing the president’s integrity test. A glimpse of the first batch of ministerial nominees for Team Buhari reveals what political scientists always said about politics – a game of constantly shifting interests and horse trading.
On the Nigerian leader’s ministerial list were five former state governors, namely, Rotimi Amaechi, Babatunde Fashola, Chris Ngige, Kayode Fayemi and Ogbonnaya Onu; a former national chairman of the opposition Peoples Democratic Party (PDP); former state commissioners; seasoned technocrats and the current head of the national oil company. The president didn’t assign portfolios to his list.
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Also on Buhari’s list is Chief Audu Ogbeh, 68, chairman of the PDP between 2001 and 2005. Appointed Minister of Communications in 1982, and later Minister of Steel Development, his term of office was truncated by Buhari’s military coup in 1983.
Another nominee, Emmanuel Kachikwu, was in August appointed group managing director of state oil company, the Nigerian National Petroleum Corporation (NNPC). He is a former executive vice-chairman of ExxonMobil Africa. Within 24 hours of his appointment, Kachikwu received the president’s permission to sack all the divisional heads of the NNPC. His place in Buhari’s economic management team is assured.
Oil exports account for 70% of government revenue. With oil prices dropping below $50 and likely to drop even further when Iran resumes supplies, continuous adjustments in budget benchmarks look certain. The Central Bank has announced a temporary ban on local transactions in dollars. Devalued first in November 2014, and again in February 2015, the Nigerian currency, the naira, still remains under immense pressure as the World Bank continues to counsel for more devaluation. An import dependent economy, a weaker naira will certainly make life more expensive for Nigerians. Analysts say Nigeria is likely to record its poorest fiscal performance in decades this year.
Other folks on Buhari’s list are: Lai Mohammed, a lawyer, businessman and stalwart of the APC; Udoma Udo Udoma, a lawyer, two-term senator between 1999 and 2007 and chairman of several entities, including UAC of Nigeria, Union Bank of Nigeria, Corporate Affairs Commission (CAC) and the Securities and Exchange Commission (SEC); Amina J. Mohammed, the United Nations Secretary-General’s Special Adviser on Post-2015 Development Planning; Kemi Adeosun, a former Commissioner for Finance in Ogun State, western Nigeria; Abubakar Malami; Abdurahman Bello Dambazzau; Aisha Jumai Al Hassan;  Adebayo Shittu;  Solomon Dalong; Dr. Osagie  Ehaneri; Suleiman Adamu; Ahmed Musa Bello; Ibrahim Usman Jubrin and Senator Hadi Serika.
Was the wait for this list worth it? Will this group of ministers, when and if eventually confirmed by the Nigerian Senate, bring a new kind of thinking to the Buhari administration?
Expectedly, the opposition party, the PDP has lampooned the list, saying the president’s proposed cabinet were “a bunch of failed politicians and loyalists who lacked integrity to move the country forward”.
Only time will tell.
<h3>The Faces Of Business</h3>
Babatunde Fashola: The former Govenor of Lagos State did a remarkable job in transforming Lagos over the past eight years. During his tenure, Fashola, a lawyer, boosted infrastructure and made Lagos safer. Based on his track record, Fashola could head the Ministry of Works or the Federal Capital Territory.
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Rotimi Amaechi: The former Govenor of Rivers State was instrumental in getting Port Harcourt back on track during the Niger Delta crisis by securing the city, attracting foreign direct investment (FDI) and developing infrastructure. While in Rivers State, he made education a priority. The Ministry of Education could be a good fit.
Kayode Fayemi: The former Governor of Ekiti State is considered an expert in policy formulation and will be seen as a great asset regarding policy direction and implementation. Fayemi, who has a doctorate in war studies, has also been seen next to Buhari in recent diplomatic visits. He may be chosen for the Ministry of Foreign Affairs.
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Amina Mohammed: She led the Millennium Development Goals (MDG) office in Nigeria. The UN later appointed her in a development capacity role. The Ministry of Health may suit her.
Kemi Adeosun: The former Ogun State Commissioner of Finance made a significant contribution to the development of the region over the past four years. With her background as a banker, she could get a financial position in the next cabinet.
Emmanuel Kachikwu: He was just appointed the Group Managing Director of the Nigerian National Petroleum Corporation. There is speculation that he will be named as a junior minister for petroleum resources, since Buhari made it clear he will manage the oil and gas sector himself.
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A President’s  Search For Political Saints

Winning the 2015 presidential and parliamentary elections will turn out to be the easiest task for Nigeria’s new leaders. Governing Africa’s most populous country will prove more arduous.
Now that the polls have come and gone, Nigerians and the newly inaugurated government of President Muhammadu Buhari must now turn their sights on the hard, serious work ahead: fixing their economy, and the ethical fibers of their multi-cultural society.
This will be no easy task, considering that all eyes (local and global) will be on the retired army general as he seeks to resolve the country’s innumerable social, economic and cultural dilemmas.
“This country has to be fixed&#8230; with the engine running,” Buhari’s Vice President, Yemi Osinbajo, told a gathering of media and business folks in Lagos last April.
No doubt the Nigerian nation continues to be a “disappointing case” despite its crowning as Africa’s leading economy, and despite its abundant resources.
Now, when I say “disappointing case” I do not mean to belittle this GDP badge of honor. I merely want to remind you that (most) Nigerians lack access to potable water, electricity, internet access, affordable housing, quality healthcare, quality education and efficient public transportation, just to list a few things on the development agenda.
“We are actually bleeding on many fronts,” a friend working in the Office of the Chief Economic Adviser to President Jonathan admitted to FORBES AFRICA. “Yet we keep behaving as if we are a Saudi Arabia, which has a bigger economy several times the size of Nigeria’s.”
Nigeria is a classic case of the Dutch Disease syndrome, a term coined in 1977 by The Economist to describe the decline of the manufacturing sector in the Netherlands after the discovery of the large Groningen natural gas field in 1959. This was around the same time Nigeria also began to export oil from its Oloibiri oil fields, in the creeks of the Niger Delta. Sadly, instead of growing in significance and wealth, Nigeria’s Niger Delta communities have become desolate and impoverished.
In recent times, declining oil prices have had a debilitating effect on the country’s earnings. Nigeria however continues to behave like a wealthy czar, overspending, undersaving and underinvesting.
Revamping the ethos of business and governance should be top priority for Nigeria’s new economic and political managers. Under the previous administration of President Goodluck Jonathan, the country’s petroleum sector became synonymous with corruption and murky corporate governance.
Crude oil prices ($115 per barrel in June 2014) now stand around $60. National revenues have declined by 29% over the last nine months. Decades of not saving enough and not investing enough in the economy have now caught up with the nation.
The IMF has called for a further devaluation of the naira, the national currency, which had already depreciated by 23% between November and March. Citizens at the bottom of the pyramid and small business owners across the country disagreed with this advice. Nigerians would prefer a peaceful nation; productive refineries and infrastructure; reforms that restore the professional dignity of the civil service, the police and other public service providers; pragmatic housing programs; deeper financial and economic inclusion and a drastic reduction in the size of government.
In a nutshell, this is the broad agenda for Nigeria’s new government. Nigerians can however be impatient. It will certainly take more than one election cycle (four years) to fix all of the nation’s economic and social woes. A few months is all we need to gauge if the change Nigerians desire will begin to happen under the old general.
Known as a frugal man with little penchant for frivolities and material acquisitions, it will be interesting to see how he attenuates Nigeria’s widespread culture of nepotism. Which brings me to another matter: state sponsorship of religious activities, events and pilgrimages.
Saudi Arabia made $18.6 billion and $213 billion from pilgrimages and oil exports, respectively, in 2014. Israel recorded 3.54 million tourist arrivals in 2013. The statistics for Nigeria’s tourism sector are nowhere near these levels. Which begs the question: who benefits more from religious tourism – is it the citizen, the state or religious institutions?
The agenda for Buhari’s team is certainly not a boring one.

the general must stop  The bleeding

The state memorial service held in the driving rain for Nelson Mandela at the FNB Stadium in Johannesburg drew the eyes of the world. There were thousands of South Africans and more than 91 heads of state. It also drew droves of journalists, with superzoom lenses, all vying for the picture of the day.
It was an odd image that attracted headlines; three world leaders messing around on a smartphone. I believe the saying, the camera never lies, is misconstrued and this image shows how pictures are all about perception.
The moment revolved around a selfie taken by United States president Barack Obama with Danish prime minister Helle Thorning-Schmidt and British prime minister David Cameron. On the social media side, people thought Michelle Obama, in the background, looked jealous of the Danish head of state; there was even talk of a split.
AFP’s Roberto Schmidt, the man who took the picture, has a different story to tell.
“I later read on social media that Michelle Obama seemed to be rather peeved on seeing the Danish prime minister take the picture. But photos can lie. In reality, just a few seconds earlier the first lady was herself joking with those around her, Cameron and Schmidt included. Her stern look was captured by chance,” Schmidt writes on his blog.
My view is the context is just as important as the image. People at home read far too much into Michelle’s face. In the picture, she comes across as a distant wife, cold towards the fun. It is an easy assumption to make from the comfort of a couch.
Most of the time, wire photographers write generic captions and send through their photos in bulk to put on mass-media sites. Editors, hundreds of kilometers away, then choose a photo from the event. Sometimes, this leads to people losing the essence and taking the image on face value.
The caption for this image does not explain what Schmidt thinks Michelle is doing, leaving it for the reader to guess. This leaves the picture open to interpretation. For all the reader knows, Michelle could have merely been cold and wet in the rain.
The reality was, as the photographer bears, that Michelle was not distant at all; though the image alluded to this.
This is a classic case of how a photograph can mislead and also shows the importance to gathering the context of the image.   FL

000_DV1590969

That Split Second Selfie

This generation of young African women is the most ambitious yet. They are eager to build industries, reform societies, save lives, rewrite history, and transform the continent.
Our annual “20 Young Power African Women” list illuminates the brightest stars and Africa’s most outstanding female game changers. We enlisted a group of young, professional African women to help identify the most innovative, courageous, daring and successful young women aged 45 and under. It is a subjective list, no doubt, but it is the closest you will get to a definitive list.
Meet the 2013 class of 20 Young Power Women in Africa: the continent’s emerging power brokers, the Amazons to watch, and the custodians of tomorrow.
<h5>Isabel Dos Santos</h5>
<h5>Angolan. Investor</h5>
The daughter of Angola’s President, Jose Eduardo Dos Santos is Africa’s richest woman. She is also one of the continent’s most powerful businesswomen. Through her various holding companies, she controls a 25% stake in Angolan mobile telecom operator Unitel, a 25% stake in Angola’s Banco BIC, 25% of ZON Optimus, a listed Portuguese cable TV company, and just under 20% of Banco BPI, one of Portugal’s largest publicly traded banks. She is also partnering with Sonae, Portugal’s largest retailer, to launch 5 new food hypermarkets in Angola in 2014.
<h5>Mimi Alemayehou</h5>
<h5>Ethiopian. Executive Vice</h5>
<h5>President of the Overseas Private Investment Corporation (OPIC)</h5>
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In 2010 U.S. President Barack Obama nominated Ethiopia-born Mimi Alemayehou as the Executive Vice President of the Overseas Private Investment Corporation (OPIC), the U.S. government’s development finance institution. She helps manage OPIC’s $16 billion war chest, channeling American capital to fund investment opportunities in emerging markets. Prior to her OPIC appointment, Alemayehou served as the United States Executive Director at the African Development Bank.
<h5>Lupita Nyong’o</h5>
<h5>Kenyan. Actress and Filmmaker</h5>
Nyong’o is a Kenyan actress and filmmaker who made her Hollywood debut in acclaimed film director Steve McQueen’s “12 Years a Slave” as Patsey. Nyong’o was born in Mexico, raised in Kenya and educated in the U.S. She is a graduate of Yale University’s School of Drama. In 2009, the breakout actress was also the lead in MTV’s award-winning drama series, Shuga. Nyong’o’s cousin, Isis Nyong’o was named one of Forbes 20 Youngest Power Women in Africa in 2011. Another cousin, Tavia Nyong’o, is a professor at NYU’s Tisch School of the Arts.
<h5>Hadeel Ibrahim</h5>
<h5>Sudanese. Mo Ibrahim Foundation</h5>
Hadeel Ibrahim is the daughter of Sudanese-born British mobile telecoms billionaire Mo Ibrahim. She is the founding Executive Director of the Mo Ibrahim Foundation, which was established in 2006 to support leadership and good governance in Africa. She also serves on the Boards of the Mary Robinson Foundation for Climate Justice and the African Governance Institute (AGI).
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<h5>Minoush Abdel-Meguid</h5>
<h5>Egyptian. Private Equity Investor, Entrepreneur, Investment Banker</h5>
The Egyptian-born investment banker is the cofounder of Union Capital, an Egyptian investment firm primarily focused on small and medium-sized enterprises. Abdel-Meguid is also founding president of the Egyptian Young Bankers Association, an organization that mentors young banking professionals.
<h5>Monica Musonda</h5>
<h5>Zambian. Chief Executive Officer and Founder of Java Foods</h5>
Musonda is the founder of Java Foods, a Zambia-based food processing company that manufactures the eeZee brand of Instant Noodles. Musonda previously worked with Africa’s richest man, Aliko Dangote, as the director of legal and corporate affairs at Dangote Group, where she led a project to build a cement plant in Zambia. She currently serves on the Boards of Dangote Industries Zambia Limited and the Central Bank of Zambia. Musonda is also the Chairperson of Kwacha Pension Trust Fund, Zambia’s largest single employer pension fund. She is an Archbishop Desmond Tutu Leadership Fellow and was named a 2013 Young Global Leader by the World Economic Forum.
<h5>Lindiwe Mazibuko</h5>
<h5>South African. Politician &amp; Parliamentary Leader for Democratic Alliance (DA)</h5>
Mazibuko, 33, is a Parliamentary Leader for the Democratic Alliance (MP for North Durban) and Leader of the Opposition in the National Assembly in South Africa. As the country’s fourth youngest parliamentarian, Mazibuko is already being touted as a future leader of the Democratic Alliance. Mazibuko was named South Africa’s Most Influential Woman in 2012 and a Young Global Leader by the World Economic Forum in 2013.
<h5>Tara Fela-Durotoye</h5>
<h5>Nigerian. Founder, House Of Tara</h5>
The Nigerian-born entrepreneur and lawyer is the founder of House Of Tara, Nigeria’s leading beauty and cosmetics company. House of Tara develops a wide range of African-themed beauty products and perfumes and also operates Nigeria’s foremost beauty academy. In 2013, Fela-Durotoye was nominated as a Young Global Leader by the World Economic Forum (WEF).
<h5>Claire Akamanzi</h5>
<h5>Rwandan. Chief Operating Officer, Rwanda Development Board</h5>
Akamanzi, 34, is the Chief Operating Officer of the Rwandan Development Board (RDB), a government institution tasked with accelerating economic growth and development in Rwanda by enabling private sector growth. Akamanzi has had a successful career in public service, serving as Rwanda’s commercial diplomat in London and as a trade negotiator in Geneva for the Rwandan government at the World Trade Organization. She was also previously the Deputy Director-General of the Rwanda Investment and Export Promotion Agency (RIEPA).
<h5>PROSCOVIA Alengot Oromait</h5>
<h5>Ugandan. Member Of Parliament</h5>
Proscovia Oromait, 20, is the youngest parliamentarian in Africa. In 2012 she was elected Member of Parliament for Usuk County, Katakwi District in Uganda. Her father, Michael Oromait, served as the MP for the same Parliamentary seat before his death in July 2012. She is a member of Uganda’s ruling National Resistance Movement party.
<h5>Sibongile Sambo</h5>
<h5>South African. Chief Executive Officer and Founder of SRS Aviation</h5>
Sambo is the founder and Managing Director of SRS (Sibongile Rejoice Sambo) Aviation – the first black female owned aviation company in South Africa. SRS is an integrated provider of private aviation services offering South African and international clients VIP Charter, tourist charter and helicopter services. The company also provides maintenance, sales and fleet management services to private jet owners.
<h5>Vera Songwe</h5>
<h5>Cameroonian. Country Director, World Bank, Senegal</h5>
Vera Songwe, a Cameroonian national, serves as the World Bank’s Country Director for Senegal, Cape Verde, Gambia, Mauritania and Guinea-Bissau. She is also a non-resident senior fellow at the Brookings Institute with the Global Economy and Development and Africa Growth Initiative.
<h5>Angellah Kariuki</h5>
<h5>Tanzanian. Politician</h5>
Kariuki, 37, is a Special seat Member of Tanzania’s Parliament and the country’s Deputy Minister for Justice and Constitutional Affairs.
<div id="attachment_5969" style="width: 209px" class="wp-caption alignleft"><img loading="lazy" decoding="async" aria-describedby="caption-attachment-5969" class="size-medium wp-image-5969" src="/wp-content/uploads/2017/05/83362281-199x300.jpg" alt="" width="199" height="300" />Artist Wangechi Mutu attends the 2008 Whitney Museum of American Art&#8217;s gala</div>
<h5>Wangechi Mutu</h5>
<h5>Kenyan. Artist and Sculptor</h5>
Considered one of the most important contemporary African artists of recent years, Mutu’s first major solo exhibition in the U.S., Wangechi Mutu: A Fantastic Journey, opened at the Nasher Museum of Art at Duke University in Durham, North Carolina in March 2013. Mutu’s work has achieved much global acclaim with exhibitions at museums and galleries worldwide including the San Francisco Museum of Modern Art, the Miami Art Museum, Tate Modern in London, the Studio Museum in Harlem in New York, Museum Kunstpalast in Düsseldorf, Germany the Centre Georges Pompidou in Paris. Her first solo exhibition at a major North American museum opened at the Art Gallery of Ontario in March 2010.
<h5>Ola Orekunrin</h5>
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<h5>Nigerian. Medical Doctor &amp; Founder, The Flying Doctors</h5>
Orekunrin, 25, is founder and Managing Director of Flying Doctors Nigeria Ltd., an air ambulance service based in Lagos, Nigeria. Orekunrin’s company is the first air ambulance service in West Africa to provide urgent helicopter, airplane ambulance and evacuation services for critically injured people. She is a 2013 New Voices Fellow at the Aspen Institute and was named a Young Global Leader in 2013 by the World Economic Forum.
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<h5>Rapelang Rabana</h5>
<h5>South African. Entrepreneur</h5>
One of Africa’s most recognizable young entrepreneurs, Rabana, 29, is the CEO and founder of Cape Town-based Yeigo Communications, which develops software for telecoms-related services including Voice over IP, instant messaging, SMS messaging and push email services. In 2008, Telfree, a Swiss mobile telecommunications firm, acquired a 51% stake in Yeigo. In December 2012 she founded Rekindle Learning, a company that provides adaptive mobile learning solutions.
<h5>Folake Folarin-Coker</h5>
<h5>Nigerian. Fashion Designer</h5>
Coker is the founder of Tiffany Amber, one of Africa’s leading fashion labels. She is the first African-based designer to showcase for two consecutive seasons at New York Fashion Week. In 2009, she won Designer of the Year at African Fashion International in Johannesburg, South Africa followed by Fashion Brand of the Year in 2011 at the Arise Fashion Week in Lagos, Nigeria.
<h5>Valentina da Luz Guebuza</h5>
<h5>Mozambiquan. Investor</h5>
The 33 year-old daughter of Mozambique’s President Armando Guebuza heads Focus 21 Management &amp; Development, a large family-owned investment holding company with interests in banking, telecommunications, fisheries, transport, mining and property. Focus 21 owns significant stakes in Beira Grain Terminal and Chinese Pay TV Company StarTimes’ operations in Mozambique.
<img loading="lazy" decoding="async" class="alignleft size-medium wp-image-5971" src="/wp-content/uploads/2017/05/valentina_guebuza_20120505_32-Edit-200x300.jpg" alt="" width="200" height="300" />
<h5>NoViolet Bulawayo</h5>
<h5>Zimbabwean. Author</h5>
Zimbabwean-born author NoViolet Bulawayo is the first Black African female and the first Zimbabwean to be shortlisted for the prestigious Man Booker prize for her debut novel “We Need New Names”. She is the author of the short story Hitting Budapest (2010), which won the 2011 Caine Prize for African Writing. NoViolet Bulawayo is currently a Stegner Fellow at Stanford University in California.
<h5>Amini Kajunju</h5>
<h5>Democratic Republic of Congo. President &amp; CEO,</h5>
<h5>Africa-America Institute</h5>
<div id="attachment_5967" style="width: 226px" class="wp-caption alignleft"><img loading="lazy" decoding="async" aria-describedby="caption-attachment-5967" class="size-medium wp-image-5967" src="/wp-content/uploads/2017/05/181837445-216x300.jpg" alt="" width="216" height="300" />Amini Kajunju speaks during the Africa-America Institute 60th Anniversary Awards Gala at New York Hilton on September 25, 2013 in New York City.</div>
A native of the Democratic Republic of Congo, Amini Kajunju is the President &amp; CEO of the Africa-America Institute, and the first African woman to serve at the helm of the oldest non-profit organization of its kind in the United States. Kajunju joined the Africa-America Institute in October 2012 from the New York-based Workshop in Business Opportunities (WIBO) where she had served as Executive Director for 10 years. Under her leadership, Kajunju has bolstered the organization’s programming and served more entrepreneurs than any other institution of a similar size in New York City.
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20 Young Power Women In Africa 2013

Not surprised? Me neither; I’ve been thinking, talking and writing about this for years. But lately there seems to be something of a groundswell of recognition within organizations that good leaders are a critical component of success – and that we don’t have enough of them, especially when it comes to the leaders of the future.
A Right Management survey conducted in December of 2012 found that 32% of HR executives in the US, and 25% globally, put “lack of high-potential leaders in the organization” as their most pressing concern for 2013. Only 4% of US HR leaders said, “We have an ample leadership pipeline that will cover most of our needs.”
Why are employers feeling this need so strongly? I suspect it’s a function of the way business is changing. Even 20 or 30 years ago, if someone was a reasonably good manager of processes and relatively savvy politically, that person could go far in most organizations.
Now the leadership stakes are much higher. Everything runs flatter and faster: most organizations have fewer levels of management and fewer built-in hierarchical controls; there is much more information to make sense of on a daily basis; the rate of change in almost every industry has increased significantly (in some cases exponentially).
In addition, younger workers are less likely to stay in a company with bad leaders: they’re looking for (as Dan Pink points out in Drive) opportunities for mastery, autonomy and purpose in their work – and leaders who don’t even recognize those as legitimate needs, let alone work to fulfill them, are having a hard time attracting and keeping the best young talent.
In other words, if you can demonstrate to your organization that you have real leadership potential, there’s almost certainly a job with your name on it out there. Showing others that you’re a leader is very different, though, than simply saying, “I want to be a vice president.” (In fact, I’ve heard lots of senior people in organizations express frustration about junior folks who seem to expect to be promoted into executive positions within months of getting hired.)
So here are some things you can start doing right now to show the key people in your organization that you’re capable of leading:
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Build influence: Because most organizations are flatter and more matrixed than they used to be, leaders need to accomplish more through the power of persuasion than by relying solely on position power. For instance, if I work in marketing and I want to create a strong social media identity and community for one of our products, I may need to partner with someone in digital who doesn’t report to me to get that effort off the ground. In other words, I’ll need to influence him or her to support my goals. Being able to build that kind of influence, even in an entry-level job, is a great demonstration of your leadership potential.
A few years ago, I watched as the assistant of a client of ours influenced the staff at a resort where her boss was doing an off-site to solve a variety of logistical problems that arose – and that were the fault of the resort – all without alienating them or having the problems negatively impact the event.  She was recently promoted to coordinator, and I suspect there are more promotions in her future.
Think outside your own job: One of the frustrations I hear most often from senior people is that their employees focus too narrowly on their own needs and constraints. Junior employees will often complain about organizational decisions, for example, without understanding the enterprise-wide factors that may have led to those decisions. If you want to be seen as a leader, make it your business to understand the larger organization:
How does you business work? What are the factors, in your organization, that lead to growth, and what gets in the way? What other functions does your part of the business interact with most, and how do you support each other? Take a step back from your particular job and look at how everything fits together.
Then the conversations you have with your boss and other leaders are more likely to demonstrate your broader understanding of the business, and build their sense that you could succeed, and support the organization’s success, in a broader role.
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Learn from others. Great leaders don’t operate in a vacuum. If you come to work, do your job (even do it very well) and go home, having only minimal interactions with your colleagues, those in power are unlikely to see you as a potential leader. However, if you demonstrate interest in your colleagues’ opinions and ask them to tell you about things they’re interested in and know about, all kinds of good things will happen: 1) your colleagues will think you’re smart and interesting (it’s true – when others are interested in us, we tend to think better of them) and will be even more likely to share their wisdom and insight, 2) you’ll learn important and useful stuff that will help you grow as a professional, and 3) your boss and others will see you as hungry to learn and grow – vs. just hungry to get a promotion.
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Make things happen: During the recession, I watched as two middle managers in a client organization went down two very different paths.  One of them focused on how difficult things were, and used the tough economic times as a excuse for why he was unable to do many of the things his boss asked of him. “You don’t understand,” he’d say.  ”People are freaking out; it’s hard to get them motivated.” “We don’t have the resources; we can barely keep things going.” Etc. etc.
Meanwhile his colleague, a woman at the same level and with roughly the same budget and number of employees, pulled her group together and worked with them to figure out how to overcome the obstacles. She wasn’t able to do everything she was asked – I’m not sure anyone really knocked it out of the park in 2009 – but she was able to accomplish most of it with the support and creativity of her team. The next year she was promoted, and her I-can’t-do-it colleague was let go.
It was a pretty stark example: The ability to figure out how to work with others to get things done, especially when there are obstacles, is probably the key thing bosses and HR folks look for when deciding whether someone has greater leadership potential.
If you consistently show up in these ways, your boss and other decision-makers in your organization will take notice. And the next time you ask for a bigger job or a promotion, you’re much more likely to get the answer you want.

Want to lead?

Is the experience of coaching women different to coaching men? I posed this question at my coaching book club, which meets regularly for two hours of zesty discussion. We are all women.
The question sparked a lively exchange. Some of us had recently read Barsh and Cranston’s How Remarkable Women Lead. Some argued that the points made could equally apply to men.
I thought about the clients I have coached. Certainly men and women bring common issues to their sessions: self-esteem, presence, being grounded under stress, delegating, networking, managing upwards, etc.
So what have I noticed that is different?
Some women clients of mine want to get out of what is called the ‘velvet ghetto’, the ‘pink collar’ jobs for women in areas considered to be gendered: human resources, public relations and marketing. They want core business jobs that show their delivery on the bottom line. I have only had one male client trying to make this switch.
Recently, I attended a briefing in the financial services industry. The Manco was indeed a MAN-committee! Fourteen of the 15 members were men; the lone woman was the director of human resources.
But progress is being made. Career guidance at my convent school proposed social work and teaching prior to our becoming stay-at-home mothers.
Most of my women clients (with or without children) take on more household responsibility and struggle more with the work-life balance. In her keynote address at the launch of FORBES WOMAN AFRICA, Cheryl Carolus said: “Superman for women is a con job. Superman has a mother and never worries about matching socks both coming out of the washing machine, or what’s for dinner and whether there’s enough cat food.”
One of my black women clients sits on a board that has only two women members. One of her challenges was how to engage with the men during the breaks. She was angry: “The chairperson could only think of saying, ‘I like your shoes’. I realized that none of the men on the board have wives that work; they have ‘charity wives’. They can’t relate to us.”
I am not saying that all men are like this, and there certainly are ‘charity wives’ who are hard-working philanthropists. But our history of patriarchy leaves all of us, women and men, with a legacy that needs to be addressed alongside the legacy of race.
One black woman COO arrived at her new job. Her welcome from the CEO (a black man) included a description of how the previous incumbent (a woman) had failed. He had given her two days’ notice to prepare an important document for submission to the board. He had approved six weeks’ leave for her most senior direct report (a black man) at a critical time when compliance reporting was due. That same report had been on the shortlist for the COO position and was rumored to be the CEO’s preferred candidate. No wonder she felt that she was being set up to fail.
In her chapter, ‘Gender Issues in Business Coaching’ (Passmore, 2013), Sunny Stout-Rostron reviews Lerato Motsoaledi’s 2009 doctoral thesis, Executive Coaching in Diversity.
“Motsoaledi studied issues of male insubordination to female authority, finding that in several instances males refused to accept it, projecting in-adequacies on to women leaders and using aggression as a tool to dominate them. Although the women managers wielded power as individuals, they still had to deal with being a member of a subordinate group expected to comply with traditional patriarchal roles,” Stout-Rostron notes. Motsoaledi argues that being black as well as being a woman adds another layer of challenge that white women do not experience.
Research indicates that companies with more women in senior management have better results; others note that better, more forward-thinking firms hire more women.
In 1973, Samora Machel, the late president of Mozambique, said: “The emancipation of women is not an act of charity, or humanitarianism. The liberation of women is a fundamental necessity.”
Carolus, at the launch of this publication, noted, “Let us be there for our men folk – to help them on their way to the joys of freedom from sexism. For in the same manner that racism dehumanized black and white, sexism diminishes the potential of both men and women. Let us break the culture of silence we sometimes impose on ourselves.”
It is not easy. I have known of women executives who assert their authority so fiercely that when I have coached their male direct reports, loss of self-esteem is identified as an issue.
Moving forward requires commitment and compassion. I will share with you what has worked with my clients. Send me your experiences and concerns: helena.dolny@gmail.com

Should coaching be gendered?

Have you ever wondered why it is that men who are happy to question everything about women, including their ability to think rationally and lead organizations intelligently and profitably, say nothing about multitasking?
I have a theory. I admit it is no science or divinely revealed knowledge, but it is a theory nevertheless.
You see, growing up in my grandmother’s house in Soweto, South Africa, I did not know that as a male child I was not inherently able to multitask.
From an early age, I was responsible for certain chores. For example, it was my responsibility to pick up litter around the yard. Later, I also became responsible for cleaning the toilet, which in the original township houses was always in a corner at the end of the yard.
With my cousins, boys and girls, we were all responsible for more than one task. We had to juggle these with playing, doing schoolwork and keeping up with the latest hits on the radio. I had to pick up my younger siblings from crèche, do my father’s dry cleaning and whatever other extra chores my mother had commanded.
While playing street soccer with my friends, I remember watching the length of the shadows to determine when my grandmother was about to arrive home, which meant that I had to run home to boil water for her tea.
My point: I had to read books to learn that as a man, I was not a natural at multitasking. This, according to mass media, happens to be a woman thing.
At first it was a disappointment. You see, I grew up in a South Africa obsessed with emphasizing how inherently different human beings were. As a result of my political consciousness, I questioned anything that suggested some people were lucky to be born with certain genes and those who were not just had to grin and bear it.
Then it dawned on me: If I had a partner whom I could praise for being a natural multitasker, my life would be so much easier.
I could get away with doing very little around the house. I would do only one thing at a time and if, for argument’s sake, it coincided with my favorite sport on TV, it would have to wait.
After all, it was not my fault. I was a mere man and therefore deprived of that which enabled women to multitask.
My partner, on the other hand, would have to do all the housework and help the kids with their homework. Even as we switched off the lights at night, her amazing ability to multitask would continue, as she worried about what to wear the next day and how to find ways of pleasing me.
Again, it was not my fault that she had been blessed with the multitasking gene, which somehow enabled her to fit so much into the finite time she had.
That was the plan.
Now that I have sons and a daughter I know it would be remiss of me to perpetuate the nonsense that men or women have special abilities that members of the opposite sex do not have.
I cannot imagine my daughter being the partner of my younger self.
My sons will be adults in the 21st century and must shed the mentality that they have a one-track mind that renders them unable to walk and chew gum at the same time. They certainly will be multitasking in my house, just like their sister.
Women have an equal responsibility to revisit the idea that multitasking is in their blood. It might mean they can take on a lot simultaneously, but as leaders and managers it also diminishes their ability to delegate. These women often end up being surrounded by people who do not trust them.
In an ever-changing world, we have to think on our feet and think laterally. I cannot imagine any organization that hopes to thrive by accepting that only certain people can be trusted with doing more than one task at a time. And not because they are lousy at their work, but because the dice simply rolled unfortunately for them.
Of course, women can choose to believe that multitasking is their divinely given privilege. From where I sit, the beneficiaries of such a belief will be lazy and inept men, while women become superwomen.
I cannot speak for women, but in my experience, women of whom a lot is demanded become increasingly resentful and grumpy. And eventually, the quality of their work or their family life suffers.
You do not need a degree in medicine to know that unhappiness is infectious. And you certainly do not need an MBA to know that any organ-ization made up of sourpusses does not make for a great workplace.

The multitasking gene

African leaders have highlighted the need to mobilize domestic savings to support investment that will drive economic growth. However, as is often the case in Africa, progress in realizing many government initiatives has been slow. The increasing development and penetration of financial services provides hope that a few lofty ambitions can be accomplished. After several rounds of recapitalizing and consolidating the banking sector, the central bank reports that Nigeria now has almost 29 million bank accounts.
The regulator last April introduced a policy that effectively raised the minimum savings rate to 3.6% to increase savings in the country. It’s a move that hurt banks because it raises their funding cost. But are savers really winners?
From an early age, my parents communicated the value of saving for a rainy day but I think every African should question the wisdom of that statement. A savings culture certainly provided small opportunities to improve the quality of my life but in the school of wealth-making, the impact can be compared to drizzle and not rain on a cloudy day. The discipline of setting money aside gave me the opportunity to spoil myself with little things such as a special pair of shoes or an ice cream treat. The rewards were not life changing.
Apart from cases of inherited wealth, the richest people in the world got wealthy by either investing their savings in assets or in a business idea.
Savings do not make people rich because the returns on savings are almost always lower than the inflation rate. In most African countries, this gap is very significant. In Nigeria, where the bank savings rate is around 3.6% but the 3-year average for inflation is in double digits, many will argue that it makes more sense to spend savings as quickly as possible because the purchasing power of a saver is stronger today than in the future.
Investments offer a different wisdom. Over the last decade, Nigeria has generated mouth-watering returns to investors. From telcos to consumer goods companies, Africa’s second largest economy has made many rich. The financial markets have also provided some joy. Over the last decade, Nigeria’s stock market has provided an annual average return of 17.2%. Those that used debt wisely as leverage over this period, made even more returns.
However, many of these investments are out of reach for the typical middle class saver. This reflects the level of sophistication of the Nigerian financial market. Financial institutions must improve the product offering for investors because despite the level of poverty in the country, the potential to attract savers is huge.
The stock market only has around 5 million investors but according to a 2012 report by Enhancing Financial Innovation and Access, an independent financial sector development organization, 56.3 million people, representing 64% of Nigeria’s adult population, do not even have a bank account.
Financial institutions that create a model to encourage and mobilize savings from small scale farmers, who represent the largest group of working people in the country, and others in the informal sector will be big winners. It is estimated that over $7.6 billion is currently outside Nigeria’s banking sector. That is a figure that should capture the imagination of bankers, asset managers and financial planners.
The tough task will be finding a way to rake in the funds for investments.

Invest for a rainy day

When South Africa marks 20 years of democracy next year, it will not be alone in celebrating. Wiphold, Women Investment Portfolio Holdings, will also mark 20 years of existence as the country’s first women-owned investment company.
In the early 1990s, after winning the political battle to ensure all South Africans had equal rights, the country’s leaders had to deal with an important challenge: how to include black South Africans meaningfully in the economy.
Louisa Mojela, Wendy Luhabe, Nomhle Canca and myself founded Wiphold to make sure that the women of South Africa were not excluded from this life-changing conversation.
Our women political leaders had done their best to ensure that gender rights featured in the Constitution. However, as a worldwide phenomenon, big business does not seem to be comfortable including women in executive discussions.
When we founded Wiphold, my colleagues and I were well aware of the challenges involved in including women in the mainstream economy.
Using our rare, privileged position, championed by the South African government’s policies, we deliberately tried to rearrange boardroom conversations all over the world.
Over the past two decades, I think it is fair to say that Wiphold has met its ambition of being a force to be reckoned with. The company is fully entrenched in its chosen industries: financial services (Old Mutual and Nedbank); coal mining (Sasol) and infrastructure (the construction of a cement plant). Wiphold has also left its mark on consumer goods and services, and on tourism and leisure. While there were many highlights during this 20-year journey, some experiences stand out as particularly memorable.
When we started out, we needed seed capital of $50,000. For young professionals from not-so-rich backgrounds, this was a lot of money, and family and friends came on board to help us. I remember that my young brother-in-law, Lazzy, who had just started his law articles, delayed buying himself a car in order to loan me $500.
Early on, when the South African government introduced Black Economic Empowerment (BEE) legislation to include black South Africans in the white-dominated economy, Wiphold approached a gold company. We offered ourselves as a unique BEE partner, trading on the fact that women are known consumers of gold. The CEO was impressed with our presentation and kindly offered us a rose garden project, which the company had undertaken as a corporate social initiative. We have never forgiven him.
Another BEE company was so impressed with Wiphold, that it offered us a merger. This was very flattering, except that the company had an Net Asset Value of almost $500 million, while Wiphold’s was a mere $3.5 million in comparison. It would seem that we were a nuisance that needed to be removed from the BEE playing field.
Perhaps the highest point in my career is when Wiphold listed on the Johannesburg Stock Exchange in 1999. It was the first women-owned company to do so; further proof that we were pushing the boundaries.
Another high point was Wiphold’s decision to build a cement plant. Construction is traditionally a man’s domain – it is no rose garden – and I am proud that our company is comfortable enough to enter the sector.
Over the years, there have also been disappointments. A continuous frustration is what I see as women’s lackluster efforts to carve out a space, to coexist alongside men, in the world of business. I see it happen time and again here in South Africa and elsewhere in the world. We are not getting the traction we believe we deserve – and there are plenty of reasons why not.
It is not enough to complain that our male counterparts are not taking us seriously. In the end, this is a fight for survival, for women’s economic and financial independence. When it is successful, it translates into more harmonious relationships with men, free of financial dependency.
In the South African context, women have battled long and hard for emancipation – some have even given their lives in the fight for equal rights. The next phase is economic emancipation – and it is impossible to argue that there are no opportunities or a lack of economic platforms on which to do so.
As a pioneer in South Africa, Wiphold did not have the luxury of failing. The burden of the next generation of women entrepreneurs was on our shoulders. Success and excellence were not optional, but necessary.

How Gloria cracked the

Our annual snapshot of the 100 women with the most impact are top politicians and CEOs, activist billionaires and celebrities who matter. In roughly equal measure you’ll find next gen entrepreneurs and media mavens, technologists and leaders in philanthropy – all ranked by dollars, media momentum and impact.
We’ve selected women that go beyond the traditional taxonomy of the power elite (political and economic might). These change-agents are actually shifting our very idea of clout and authority and, in the process, transforming the world in fresh and exhilarating ways.
This year the list features nine heads of state who run nations with a combined GDP of $11.8 trillion –including the No. 1 Power Woman, German Chancellor Angela Merkel. The 24 corporate CEOs control $893 billion in annual revenues, and 16 of the women here founded their own companies, including two of the three new billionaires to the list, Tory Burch and Spanx’s Sara Blakely. Speaking of, this year’s class has 14 billionaires valued in excess of $82 billion.
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<h4>Here, a quick peek at Power Women 2013:</h4>
Newcomers: Among the 15 newcomers on this year’s list are South Korean President Park Geun-hye (No. 11); Lockheed Martin LMT +0.52% CEO Marillyn Hewson (No. 34); CEO Tory Burch (No. 69);  Spanx founder Sara Blakely (No. 90) and Baidu BIDU -1.28% CFO Jennifer Li (No. 98).
Old friends: At this 10th edition, attention must be paid to the 15 who appeared on the inaugural list in 2004 and are still here today:  Oprah Winfrey(No. 13), of course. Ditto for Hillary Clinton (No. 5). But there’s also  Christine Lagarde (No. 7),  Sonia Gandhi (No. 9), Indra Nooyi (No. 10), Helen Clark(No. 21), Nancy Pelosi (No. 22), Anne Sweeney (No. 24), Amy Pascal (No. 36), Queen Elizabeth II (No. 40), Abigail Johnson (No. 60),  Ho Ching (No. 64),Diane Sawyer (No. 73), J.K. Rowling (No. 93) andGreta Van Susteren (No. 97).
She’s No. 1: Chancellor Merkel has made the list eight times out of the past 10 years – seven times as No. 1.
She’s the first: Forty percent  of the women on the list are “female firsts,” such as African head of state (Liberia’s Ellen Johnson Sirleaf), billionaire to sign The Giving Pledge (Sara Blakeley), and CEO at IBM (Ginni Rometty). Even more impressive are a the women who are multiple “firsts”, such as Judith Rodin, first president of an Ivy League and of the Rockefeller Foundation  and Hillary Clinton.
Hillary stays on: Clinton’s CV is chock full of firsts: The only first lady to become a U.S. senator turned viable presidential candidate turned secretary of state. Now a private citizen, she continues to be one of the most watched and listened-to women on the planet. All bets on that she will be the 2016 Democratic presidential candidate and the free world’s presumptive next leader. She’s done little to quiet the chatter, including hitting the speaking circuit last month at an estimated $200,000 fee per event and inking a reported $14 million book deal.
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Tech takes a second turn as a category on the Power Women list. Five tech women made the top 25 this year, including Facebook’s Sheryl Sandberg (No. 6), Rometty (No. 12) and HP’s Meg Whitman (No. 15). There are 16 tech women in total, including also Susan Wojcicki, SVP of ads at Google (No. 30) and Sun Yafang, chair of Huawei Technologies (No. 77).
in South Africa. Joining the efforts of the U.N. are Angelina Jolie (No. 37), Shakira (No. 52), and Gisele Bundchen (No. 95). Beyonce (No. 17) rules the House of Dereon and Sofia Vergara (No. 38) co-owns LatinWE.
Businesswomen are booming in Asia: The whole region makes a strong showing, from China and Singapore to New Zealand and Thailand. Entrepreneurship is on the rise: see Zhang Xin (No. 50), The rising tide of female entrepreneurs:
A remarkable number of women are founders or owners of their own enterprises, not a few of whose eponymous companies are synonymous with high fashion. Consider Miuccia Prada (No. 58), Zara founder Rosalia Mera (No. 66), Tory Burch (No. 69) andDiane von Furstenberg (No. 74). Other self-made self-starters include Oprah Winfrey (No. 13), Arianna Huffington (No. 56), Chinese real estate tycoonZhang Xin (No. 50), and Kiran Mazumdar-Shaw, India’s first biotech entrepreneur (No. 85).
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The new celebrity role models: Sure, they’re famous but they deserve special attention for their outside work, be it ambassadors for meaningful causes or as business owners.
Oprah founded both Harpo Productions and The Oprah Winfrey Leadership Academy for Girls Sun Yafang (No. 77) and Solina Chau (No. 80). And Asian region women are showing their political might, from newcomer Park Geun-hye, the South Korean president (No. 11) and Burmese dissident and parliamentarian Aung San Suu Kyi (No. 29) to Australian PM Julia Gillard (No. 28) and Thai Prime Minister Yingluck Shinawatra (No. 31).
Healing, feeding and educating the world: If they’re not topping corporations or state, the women on our list are heads of major nonprofits and NGOs and they wield as large budgets and impact millions, from Melinda Gates (No. 3) and IMF chief Christine Lagarde (No. 7) to Director-General of World Health Organization Margaret Chan (No. 33), World Food ProgrammeExecutive Director Ertharin Cousin (No. 49) and Harvard University’s Drew Gilpin Faust (No. 43).
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<h4>Joyce Banda</h4>
Malawi’s first female president (and second on the African continent) spent her initial year in office pushing for rapprochement with the international donor community while grappling with spiraling inflation and an angry populace at home. With foreign aid accounting for nearly 40% of Malawi’s revenue, Banda urged global financial institutions to restore the dollars and Euros frozen during the autocratic regime of her predecessor. But her decision to devalue Malawi’s currency by 50% – to meet IMF conditions – has resulted in soaring costs for food and fuel and widespread protests. Her first 12 months were also marked by progress in decriminalizing homosexuality and major public health initiatives such as the $15 billion Global Fund to Fight Aids, TB and Malaria.
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<h4>Sri Mulyani Indrawati</h4>
When Sri Mulyani Indrawati addressed the Association of Southeast Asian Nations (ASEAN) in April, the Indonesian economist shared a curious insight: while high-income countries continue to suffer in the wake of the financial crisis, developing countries have come out relatively unscathed. The World Bank projects average global GDP growth of just 2.5% in 2013. Indrawati has served as managing director and the most senior woman at the World Bank since May 2010; as managing director, she oversees the World Bank’s operations in Asia and Africa, Europe, Latin America and the Middle East. After a series of deadly accidents in Bangladesh, the World Bank and the International Labor Organization have put pressure on the country to overhaul its labor laws.
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<h4>Liyuan Peng</h4>
China&#8217;s most public first lady since Madame Mao, Peng is the stylish second wife of new leader Xi Jinping. She toured with her husband during Xi&#8217;s first presidential trip abroad to Russia and Africa in March and was credited with putting a human face on the Communist regime; not for nothing, Peng is a member of the Public Diplomacy Association, an organized tasked to make China more appealing abroad. The former superstar folk singer is often joked about for being more famous than her husband: &#8220;Who is Xi Jinping? He is Peng Liyuan&#8217;s husband.&#8221; Fashion editors watch her for her (mostly) made-in-China style, but she&#8217;s also a U.N. ambassador for health and a Goodwill Ambassador for the World Health Organization focusing on TB and HIV/AIDS.
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<h4>Ngozi Okonjo-Iweala</h4>
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One year in office after a failed bid to for the World Bank presidency, Nigeria&#8217;s Harvard-educated finance minister produced a 6.5% increase in GDP from 2011 to 2012. Nigeria is the third largest economy in Africa with nearly $50 billion in foreign reserves.
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<h4>Ellen Johnson-Sirleaf</h4>
Johnson-Sirleaf is an African icon. She is the  continent&#8217;s first female head of state, a 2011 Nobel Prize winner for her work  n the global women&#8217;s empowerment circuit.
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The world’s 100 most powerful women

Widely regarded as one of the best business leaders to have emerged from Africa over the past 20 years, there is not the slightest embarrassment on the face of this self-taught entrepreneur as he admits to having no investments—none whatsoever—other than the shares he has in Discovery Holdings, the company he formed over 21 years ago and built into a global diversified financial services group with an annual income of more than $4 billion (R40 billion).
With glee, he says he doesn’t subscribe to the conventional investment caveat of not putting your eggs in one basket. So, he is invested to the hilt in Discovery, now the largest health insurer in South Africa, of which he owns about 9%, part of a personal fortune of close to $300 million (R3 billion).
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Welcome to the world of, the sometimes maverick, Adrian Gore.
It is a day after Gore released more than respectable annual results for the year that ended on June 30. The results showed that the group had achieved a 20% increase in normalized headline earnings, to almost $281 million (R2,8 billion), while cash generated from operations was up by 45% to over $201 million (R2 billion). All this with a 15% rise in new business to $1 billion (R10 billion), mainly in Britain, China and the United States.
An ebullient Gore intimates that taking on the rest of the African continent could be in the offing in another three to five years.
“You don’t have to be first. I see a massive opportunity. Health insurance requires private health systems not yet present in Africa.”
Not that he hadn’t tried before; the company had to reassess its strategy following a couple of dud acquisitions.
“Ours is about building a product—not buy a business and bring costs down to make a profit. We create value for customers,” he says.
Gore’s contemporary, Barry Swartzberg, with whom he left Liberty to start Discovery and remains an executive director, was asked recently how the two complemented one another.
“He’s more thoughtful, works on aspects, takes a long time to mull over ideas.”
An actuary by training, Gore has spent the past 21 years changing the world of medical insurance in South Africa. Today, the company is a fully-fledged financial services entity after adding insurance and life asset management to its portfolio.
Gore now wants to change the world, and looks like he’s very much on the way—one country at a time.
In China, Discovery has a 25% stake in Ping An Health Insurance, the country’s largest private health insurer. It does business with companies like Volvo, Unilever and Goldman Sachs. In Britain, the company has created the fourth largest insurer in an alliance with old stager Prudential. It also has ties to Humana Inc in the United States, and the AIA Group in Singapore.
“China remains a huge growth market, with the estimated total healthcare spend expected to rise by over 90% by 2020. Private healthcare spend is expected to grow even stronger over this period. Ping An has established itself as the leader in Critical Illness Insurance and related spend, a strong position to be in given that approximately 65% of deaths are classified as non-communicable diseases. By increasing their stake, Discovery has identified this opportunity,” says Nick Crail, a portfolio manager at RMB Private Bank.
“Getting into these markets is brutal,” Gore says.
“There’s no easy way or short cut. Each market takes time.”
The market appears to approve of the AIA deal in Singapore. On the day it was signed, Discovery shares shot up 6.6%.
“The AIA deal entrenches Discovery’s footprint across the growth markets of Asia, excluding Japan, giving them access to 17 markets in the region with total assets of approximately $147 billion. Discovery has entered this market through their offering in Vitality. This will therefore be a cost exercise for them for the first few years, but should realise profits into the future,” says Crail.
“I think, judging by the rally in the share price, that the market has already priced in much of these ‘blue-sky’ ventures. Their recent trading update unsettled markets somewhat and we would expect investors to be more cautious in driving up the share price too strongly. Therefore we wouldn’t expect much more in the share price to year-end. Having said that, we like Discovery and believe in their long-term outlook.”
In Britain and the United States, Discovery entered markets that were already established, with a great deal of certainty, facing a myriad of competitors and very tight regulations. It made it difficult for Discovery to innovate as much, or as well, as it would have wanted. A developing market like China, on the other hand, while posing lots of possibilities, is a frontier that still calls for a fair amount of learning and cautious optimism.
Tenacity from the pioneering years of their South African operations has made Discovery able to withstand pressure and adapt.
“South Africa is a small but more sophisticated market than we are getting credit for,” says Gore.
Paul Theron, CEO of asset managers Vestact, says Gore’s character has been one of the key factors behind Discovery’s success.
“His growth has been amazing. It wasn’t a completely unique product that he was selling, coming out of Investec to start Discovery. But to go from that tiny firm to span into a global expansion has been brilliant.”
“They had some problems in the US. But in the UK they have been able to offer a good product around Vitality. The intellectual property is certainly something that will do well there. Incentivizing people with a healthy lifestyle will certainly take off. Along with the operational expertize having been around for a good number of years. Many people can come up with a good idea, but to actually make it work and have it run successfully over a number of years is an entirely different matter,” he says.
Discovery’s latest foray is into Singapore. It was announced in July, but Gore has little to say months later.
“We haven’t divulged the details of the transaction,” he says.
It is a trait of Gore that he has little to say about his missions until they are accomplished. This has been since the day he left Liberty Life, after developing the itch to start a small medical insurance unit within financial services group FirstRand, through the listing on the Johannesburg Stock Exchange to unbundling from the parent company. It led to Discovery claiming more than half of the South African health insurance market. A story of more bite, less bark from the man who keeps to himself.
Laurie Dippenaar, who is 23rd on the FORBES list of the 40 Richest Africans and the father of FirstRand, was the man who gave Gore his shot. He has a clear memory of their first meeting.
“You could immediately see this guy was different. He was not the typical chartered accountant nerdy smart. You could see he had intelligence but he also had business sense, all the qualities that make you a success. I think he is actually one of the smartest business people I have ever met.”
According to Dippenaar, Gore’s first pitch didn’t go as well as he planned. The life insurance scheme was too much like others.
“To this day he says I got it wrong. A year later he comes up and says he’s got something completely different. From life insurance he had gone to a health insurance. He started to describe what he had in mind and I could immediately see he was onto something.”
This something was Discovery.
“When he described that medical savings account, it was a pioneer move in South Africa. I remembered when I was a bachelor and paying all these premiums for health insurance. You are young and healthy you don’t need to claim. All you do is pay premiums. Here was a product where you could carry forward some of the premiums if you were not claiming. In theory you could get into a situation where you didn’t have any premiums to pay,” says Dippenaar.
Gore left his job and Dippenaar gave him three months to draw up a business plan, in Dippenaar’s own offices.
“He never had any hesitation. He came up with the numbers. We liked it. So we backed him,” he says.
Gore is undoubtedly a darling of his shareholders, as well as share speculators, but that’s not to say he is liked by all. He has made enemies and detractors. He stands accused, for example, of squeezing competitors out at every opportunity, a charge Gore denies vehemently.
“I don’t think that is fair. We are strong competitors and more competition is good for society. We do nothing unfairly.”
It’s not only competitors who are unhappy. Doctors have taken issue with Discovery’s payment rates, where practitioners are forced to cap their rates and accept smaller fees. Gore’s defence? Nothing wrong with the practice.
“After all, we are the paymaster.”
What about the hundreds of thousands of people covered by Discovery Health? Some of them think Discovery is making huge profits on the back of above-inflation medical rate increases, while bombarding them with peripheral benefits like gym contracts.
Furious customers, writing on a business news website on the day of Gore’s announcement of financial results, complained bitterly about forever shrinking benefits, while others used words like “robbery”, “rip off” and “gimmicks” to describe Vitality, Discovery’s rewards-for-healthy-living scheme.
“These are natural issues,” Gore says, “they see the money we make.”
It doesn’t bother him much, though, as experience shows that customers stick with Discovery.
“The customer satisfaction rate is very high,” he says proudly.
Honesty and optimism have been driving forces at Discovery from the day it was established, says the man who prides himself for being, in his own words: innovative and prudent.
“Building insurance around making people healthy may be quite soppy”, he says, but it has been the key to success in international markets.
“We know where to be bold, and when to be reticent. We are pushing hard on the ground, taking no prisoners. We are ruthless.”
Gore’s steely, and ruthless, determination is often likened to that of Steve Jobs, the late genius who founded Apple and who was liked and hated in equal measure; depending, of course, who was telling the story.
There are two framed pictures of Steve Jobs in Gore’s office. One is from a business leadership article and the other is from a cover of the Economist magazine.
Gore is at pains to explain that Jobs graced the cover in the same edition that carried a story about Discovery. In the piece, the Economist hails the innovation of Discovery’s Vitality program as an example of how quickly new ideas are starting to flow out of emerging markets to challenge the world.
As for Jobs, Gore finds him very inspiring—especially for his obsession with one product.
“The obsession with a solution for society,” says Gore, who says he uses this belief at Discovery.
“Every organization must be started by someone,” Gore says, “owner-manager culture has a certain drive to it, a certain authenticity.”
Discovery’s success owes much to its founding team, most of whom are still with the company.
“But what’s most exciting about Discovery is that the future is ahead of us,” Gore says.
That future, though, may be under threat. At least, according to analysts.
The private health care industry is nervous about the announcement by the South African government—the continent’s biggest economy and a huge contributor to Discovery’s profits—that it is planning to introduce National Health Insurance (NHI). It will be funded through taxes and administered by the state; the NHI will strive to give health care to all.
Some analysts believe it will make a huge dent in medical insurance industry profits, big enough to send a few of them under. They single out Discovery as one company on the risk list because of high administration and managed care charges.
“We will have to adapt in some way, but I don’t think it’s threatening at all,” says Gore.
Gore says while NHI was excellent and rational and could strengthen the public system dramatically, it won’t supplant the country’s private health system and will take much longer to introduce than the 12-13 years the government has given itself.
If history is anything to go by, there can be no doubt Gore and his team—called the best brains in the industry—are busy preparing, which probably explains Discovery’s involvement in at least one NHI pilot project.
“Status quo is undesirable. You can’t have huge portions of the population with no access to proper health care. It’s not good for the country. I don’t think a great business exists on the back of dysfunctionality. You can’t exist at the expense of society. You’ve got to be part of society,” says Gore.
But what is he doing for that society? That is, when not ensuring that everyone is covered, or spending time with his wife, his two university student daughters, and the son he takes to school every day.
Driven by a philosophy that only entrepreneurs create jobs, Gore chairs Endeavor South Africa, the local chapter of a global non-profit organization that seeks to identify and nurture young entrepreneurial talent. It’s where he hopes to find, mentor and offer a break to future Gores – perhaps in pretty much the same way Dippenaar did for him 21 years ago. First lesson, don’t take prisoners.

Tag: Leaders

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