As part of FORBES AFRICA’s ongoing eighth anniversary celebrations, we present a CEO Rhetorical Analysis by Anahita Negarandeh, a Harvard University Extension School student, on FORBES AFRICA’s founder and publisher, Rakesh Wahi. The CEO Rhetorical Analysis researches and analyzes the rhetoric — the effective messaging or speech — of a CEO and global business leader. The values chosen to explore in the CEO’s rhetoric are a key part of this article.



This
rhetorical analysis examines the messaging of Rakesh Wahi, Founder of CNBC
Africa and FORBES AFRICA. By consulting with approximately 10 executives from
Wahi’s global team, this rhetoric examines four of his leadership values such
as courage and determination, collaboration, passion for education, and
equality. 



Courage and determination 



Wahi
is a well-respected global businessman based in Dubai and South Africa who has
been involved with approximately 20 corporate development projects. He
continues to grow his establishments in more than 25 offices around the world.
As a leader in media, IT, telecoms, and education, Wahi has built companies in
22 countries, employing over 1,000 employees. Prior to moving to the UAE, Wahi
served in the Indian Armed Forces for approximately nine years and was awarded
the Vishisht Seva Medal by the President of India in 1985 for distinguished
services to the country in peacetime. During his army service, at age 23, he
was part of India’s second base establishment in Antarctica where a near-death
experience changed his life. 



“But I realized at that age that life is not something you take for granted, therefore, whatever you want in this world, you have to set out to achieve it. At the end of the day, you are either there or not there; if you are not there, and if there are unfulfilled dreams, they will always be unfulfilled.” (Wahi) 



READ MORE: <a href="https://www.forbesafrica.com/woman/2016/10/01/5-minutes-rakesh-wahi/">5 Minutes With Rakesh Wahi</a>



Wahi’s
executive team members, who have known him for approximately 20-30 years,
believe this statement. Based on four personal interviews conducted for the
purpose of this analysis with Wahi’s global leadership team, Wahi “lives this
statement in his everyday life” (Martin). Many acknowledged that he is continuously
determined to fulfil his dreams. Lars Jeppesen, Wahi’s Co-Founder of Tech One
Global, states that “Wahi dreams and then puts all efforts to pursue the
dreams… he is still building universities, creating new businesses, and pursues
his dreams” (Jeppesen). Wahi is known to thrive on challenges and never gives
up on achieving his goals even when faced with obstacles and challenges. 



A
leader’s personal life experiences and adversities play a major role in one’s
values and ethics. In Wahi’s case, facing death at a young age motivated him to
pursue his dreams to become realities. This is an admirable value for
entrepreneurs, especially the younger generation. As a role model, Wahi teaches
them to never give up despite challenges. 



Collaboration &amp; Importance of People 



Wahi
has learned valuable business lessons from his experience in the army, most
importantly, the core lesson taught in the military about the importance of people
and looking after them. His 2016 autobiography, Be a Lion, dedicated a section to The Importance of People.
Books have had a great impact on Wahi, specifically the philosophy of reason
from Ayn Rand while he was fighting for his life from the military
life-threatening incident. As an advocate in the influence of others, he
reiterates in his book, “That it is difficult to achieve anything without the
involvement, commitment, loyalty, and assistance of others. When you come
across a person with whom you can see a future, you must grasp the opportunity
and mutually make the most of it.” (Wahi Ch. 1, location 173, par. 4) 



Wahi executes his philosophy in numerous examples throughout his career, especially one with Daniel Adkins who is now CEO of Wahi’s Transnational Academic Group Middle East. When asked to describe a situation reflecting Wahi’s collaboration with and valuing people, this quality has directly been experienced, Adkins states, “I am probably the best possible example of this philosophy.” (Adkins). He describes his hiring experience entering the organization in late 2009 and rise from the most entry level position at one of Wahi’s Dubai-based universities, Murdoch University, to now CEO for the Middle East operations. 



“Throughout
this entire process, Wahi has provided both direct mentorship and mentorship by
example and has made sure that I did the same for my entire team, which has
produced fantastic organisational results including no turnover with regret for
six years.” (Adkins) 



READ MORE: <a href="https://www.forbesafrica.com/focus/2019/03/01/the-most-defining-aspects-of-our-lives/">The Most Defining Aspects Of Our Lives</a>



As
stated in Lancaster University Ghana’s Senior Management biography, Wahi’s
“core focus is on long term corporate and leadership development through
building strong management teams”. Adkins reiterates this statement in an
interview: “Wahi absolutely lives this philosophy and demands it from his
entire management team… the people are the business and there is nothing more
important” (Adkins). 



Wahi
is known to have a special gift and skill to find loyal people and never
hesitates to show appreciation to people’s loyalty. Wahi learned this quality
from his role model parents, a father who was a military, corporate, and family
hero and a mother who was not only Mother Teresa’s friend, but a genuine giver
in life. In other words, Wahi is a “go back to your roots leader” (Al
Abadilah). Wahi was brought up in a giving family and now gives back as a
leader. Because of the people-oriented philosophies followed in his
organizations, employee turnaround rates are phenomenally low. Everyone is
treated like family and the principles presented in Ken Blanchard’s book, Gung-Ho!, are lived by
management. 



Wahi’s
philosophy about collaboration and importance of people is truly refreshing in
a CEO and business leader. In today’s individualistic world, leaders like Wahi
who dedicate a major part of their leadership role to importance of people is a
rare finding. Such values must be celebrated and promoted in all aspects of
business worldwide. 



Passion for education 



As
a sought-after speaker at educational institutions on leadership and
entrepreneurship, Wahi received an Honorary Doctorate Degree of Science from
the International University of Management by the Minister of Education of
Namibia. He was also appointed as an IATF2018 Goodwill Ambassador by The Trade
Finance for Africa. He personally learned and continuously teaches patience to
other entrepreneurs in emerging markets. In an interview with CNBC Africa, The Entrepreneur’s
Entrepreneur: Rakesh Wahi,about his book Be a Lion, Wahi
shares he is “extremely passionate about education”. His vision is to set up
educational centers of excellence across Africa incorporating new innovative
industries such as online and hybrid aspects of education with traditional
classroom environment. He has mentored many people in his leadership journey,
but believes mentorship benefits both parties as he states in an interview with
CNBC Africa: “Within a group, you always learn from each other. Mentorship is
not a one-way journey, you learn every day from your peers, subordinates,
seniors… If you are a student, you will remain a student all your life. You
must be like a sponge, no matter your age.” (Wahi) 



According to Adkins and Martin, executive partners at Wahi’s educational business sectors, Wahi lives his statement daily. Not only does he mentor his staff, he also learns from those on his team whether they are junior level or senior. Wahi has created a business culture amongst all sectors in a way that everyone learns from one another. 



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“There
is no rank in the discussion. It is both intuitively understood and explicitly
expressed that everyone’s ideas deserve equal consideration and we have made
company-altering decisions based on input received from junior team members
when those ideas turned out to be the best… It is absolutely the culture.”
(Adkins) 



Jeppesen,
now Co-Founder of a tech enterprise with Wahi, states in an interview, “Wahi
has been my mentor since we met 17 years back… Later, when we co-founded Tech
One Global, he was leading our board and mentored me personally as the CEO.”
(Jeppesen). 



The
culture of learning and mentorship from one another has saved the business in
an example of a termination deal of one of Dubai’s university partnerships with
a junior member of the team’s approach. This is proof that critical decisions
are made, as a group despite rank levels. An important aspect of Wahi’s work is
helping the leadership team rise to the next level. 



Equality 



Wahi’s
decision to launch FORBES WOMAN AFRICA was to provide a platform for women
entrepreneurs’ stories and the overwhelming waitlist of these stories in FORBES
AFRICA. 



“The
main reason was that as a startup magazine, FORBES AFRICA was overwhelmed with
a waiting list of stories from 49 countries in sub-Saharan Africa; by virtue of
women having a late head start in the business world, the stories were largely
dominated by men who had done great things to transform Africa.” (Wahi) 



In a short period of time, the magazine has risen to be the material of choice for inspirational women stories, with fantastic content being produced. Equality is discussed in an article by FORBES WOMAN AFRICA, Celebrating Five Years with The Founder and Publisher: Rakesh Wahi. 



“We
have discussed the trials and tribulations of women in the workplace and become
a champion for equality. The word ‘equality’ is a living value for us at the
ABN Group and I am so proud that we have been able to personify our values
through affirmative action.” (Wahi) 



READ MORE: <a href="https://www.forbesafrica.com/focus/2019/04/01/equality-as-a-living-value/">Equality As A Living Value</a>



According
to a partner of over 35 years, Rajiv Podar, “Wahi has always respected and
admired hard-working women and a firm believer of equality at workplace and
home… Most of his senior colleagues are women too” (Podar). In an example from
a former female executive at one of Wahi’s first ventures 20 years ago in
Dubai, Maha Al Abadilah discusses the value of equality she experienced as a
woman working with Wahi. “I have never experienced anything that distinguished
a man and a woman, nothing but full respect and treating us with our pure
qualifications and titles.” (Al Abadilah.14:19). 



Wahi
repeatedly demonstrates his firm belief in his statements amongst his team
members. When a decision is to be made for an important matter, all team
members discuss as equals. “It is both intuitively understood and explicitly
expressed that everyone’s ideas deserve equal consideration.” (Adkins).
Evidently, not only the value of equality is present within his ABN Group
amongst women in the workplace, but also amongst all employees. Gender and rank
are clearly not considered in any team discussions and decisions. 



Conclusion 



Wahi’s leadership approach and personality embodies unique values such as a life-changing incident, the collaboration and importance of people, a passion for education, and equality. As he was personally approached for research purposes of this analysis, he promptly welcomed connections with over 10 executives and partners of his global team who were all eager to help. Research results and personal interviews with warm responses from his team members and partners portray all qualities examined in this analysis positively. Wahi lives his statements and is a true people-oriented leader. 



Works
cited: 



Adkins,
Daniel. “Re: Business Paper Inquiry &#8211; Harvard University.” Received by Anahita
Negarandeh, 12 Dec. 2018. 



Africa,
Forbes Woman. “Celebrating Five Years With The Founder &amp; Publisher: Rakesh
Wahi.” Forbes Africa, 27 Sept. 2018,
www.forbesafrica.com/woman/2018/09/27/celebrating-five-years-with-the-founder-publisher-rakesh-wahi/.




Al
Abadilah, Maha. “Phone Interview, Rakesh Wahi Analysis” Voice recorder. 18 Dec.
2018. 



Bandyopadhyay,
Somshankar. “Military Lessons in Entrepreneurship.” GulfNews, 15 Mar.
2017, https://gulfnews.com/entertainment/books/military-lessons-in-entrepreneurship-1.1994221.




Bishop,
Chris. “Re: Chris Bishop CNBC Africa.” Received by Anahita Negarandeh, 12 Dec.
2018. 



CNBC
Africa. “Rakesh Wahi Reflects on CNBC Africa&#8217;s Decade of Broadcasting.” CNBC
Africa, CNBC Africa, 1 June 2017, www.cnbcafrica.com/videos/2017/06/01/rakesh-wahi-reflects-on-cnbc-africas-decade-of-broadcasting/.




CNBC
Africa. “The Entrepreneur&#8217;s Entrepreneur: Rakesh Wahi.” CNBC Africa, 4
Nov. 2016, www.cnbcafrica.com/news/special-report/2016/11/04/be-a-lion/. 



Jeppesen,
Lars. “Re: Business Paper Inquiry &#8211; Harvard University.” Received by Anahita
Negarandeh, 12 Dec. 2018. 



Lancaster
University Ghana. “Rakesh Wahi Chairman.” Lancaster University Ghana,
www.lancaster.edu.gh/our-faculty-details.php?id=45. Accessed 8 Dec. 2018. 



Martin, Gary. “Re: Business Paper Inquiry &#8211;
Harvard University.” Received by Anahita Negarandeh, 12 Dec. 2018. 



Naicker,
Roberta. “Re: Business Paper Inquiry &#8211; Harvard University.” Received by Anahita
Negarandeh, 12 Dec. 2018. 



Podar,
Rajiv. “Re: Business Paper Inquiry &#8211; Harvard University.” Received by Anahita
Negarandeh, 12 Dec. 2018. 



Vettath,
Malavika. “Global Entrepreneur Rakesh Wahi: &#8216;I&#8217;ve Been a Very Bad Personal
Investor&#8217;.” The National, The National, 25 May 2018,
www.thenational.ae/business/money/global-entrepreneur-rakesh-wahi-i-ve-been-a-very-bad-personal-investor-1.733606.




Wahi,
Rakesh. Be A Lion. Penguin Books, 2016. Kindle eBook file. 



Wahi,
Rakesh. “Re: Business Paper Inquiry &#8211; Harvard University.” Received by Anahita
Negarandeh, 12 Dec. 2018.

Rakesh Wahi

Analysis: The Values That Make A CEO

One of the greatest challenges we face today is uncertainty; a simple word that has often been used naively to describe apprehension. It is, however, one of the most complex words of our times and is anything but simple.



Physics,
mathematics and applied mechanics were my passion since 1973. Archimedes,
Einstein and Newton, among others, made the world a better place; add to that,
a topping of economics and finance from Samuelson and Damodaran and management
from Drucker, and I thought I had life and business covered. Until a decade
ago, we were able to use predictive models of the past and apply them with
reasonable surety, within some standard deviation models, for the future. We
applied some risk factors and gave ourselves a pat on the back when we had all bases
covered; and often term our analysis as a base-case scenario. Perfect. 



In 1999, as part of a fund management business, my team and I were advising buy-side transactions of an Islamic Private Equity fund. The internet bubble was growing and was my initiation to the fast-talking breed of entrepreneurs who had sworn to change the world. 



Have you ever had instances in your life when you are so scared of looking foolish that you don’t question fundamentals? Well, that was our time of looking bewildered. At the end of one of the harebrain schemes that was presented, I sheepishly asked a question about the absence of cash flow. 



That was considered sacrilege at a time when the dotcom entrepreneur’s words were taken as gospel. I was given the greatest explanation of all times and something our world has become synonymous with; “you don’t get it – it’s a leap of faith, you are either in or out”. 



Everything I studied was irrelevant. Much to our eventual delight, we were proven right by staying out of some of those misadventures but the transformation moved at the speed of light. Recalibrated by two major meltdowns (the dotcom bubble burst in 2000 and the financial crisis of 2008) and sabre-rattling on governance, we fast forward to 2019.



In
comparison to 1999, I can only summarize that uncertainty is relative. So what
changed? Nothing and everything! Nothing, because sometimes I feel that we
learned nothing, and everything, because the world is no longer the same. 



I will only deal with two issues. The first relates to the future of employability of the human race. In the 20th century, we were assured of a job in whichever vocation we studied. Today, with the pace of change from the Fourth Industrial Revolution, there are serious questions about what humans will do in the future versus the functions performed by machines. 



The fundamentals have changed and we are not asking questions because we are scared once again. We want to ignore that anything which is quantitative and predictive in nature will eventually be done by machines. However, the qualitative aspects or anything requiring a human interface can never be replaced. 



The role of humans will change but their importance in managing the ecosystem will never change. So there is a need to ask questions, understand this profound reality and change the way we educate and learn. This is critical to provide a sense of certainty.



The second uncertainty is caused by disruption. Our lives and businesses are predictive and so shall be disrupted. What we do will not change but how we do it will. You will still need a doctor to give you advice, comfort and hope but almost everything in the medical field will be predictive. 



It takes minutes to conduct pathology tests and scans and simultaneously get reports. Training of nurses is on fifth generation mannequins that are almost human. Since disruption is becoming a way of life, we need to embrace this reality and start planning for the future that we have no idea about. So go back to basics, unlock the status quo and reengineer.



Humans
have evolved from the stone ages; we have the resilience, tenacity and inherent
instinct to survive and succeed. What will help us along the way is educating
ourselves on the challenges of the future. Leadership will play a far greater
role in the future than ever before. Analysing, recognizing, educating and
managing change is an important aspect of dealing with uncertainty. 



As leaders get predictive and quantitative advice, success will come
from taking that information, making sense of it and most importantly acting on
it. At a corporate level, an important change needed is to break the archaic
organization structures so that decision-making is autonomous at the level of
frontline managers, just like field commanders in a battle field. United by a
common vision, mission, values and goals, a well-trained team will deliver like
synchronised swimmers. Uncertainty cannot be conquered as it is dynamic but it
can be harnessed and managed through effective leadership.

Educated, Re-engineer and Lead Through Uncertainty

FORBES WOMAN AFRICA To Be Digital-Only Product



<hr class="wp-block-separator"/>



For our fifth anniversary issue last year, I wrote with pride about the impact made by FORBES WOMAN AFRICA across the continent and while I reflected on the challenges that I had faced while launching the magazine, I also spoke about the value the magazine had created across the continent in showcasing stories of women that would otherwise never have been told. 



From the onset, there was significant scepticism from many quarters about the success of a business magazine focussed on women across Africa. I had thrown caution to the wind as my investment decisions are not only backed by pragmatic business sense but also made through belief and passion.



I quote a paragraph from my note in the September-November issue of FORBES WOMAN AFRICA last year.



READ MORE | <a href="https://www.forbesafrica.com/focus/2019/03/01/the-most-defining-aspects-of-our-lives/" target="_blank" rel="noreferrer noopener" aria-label="The Most Defining Aspects Of Our Lives (opens in a new tab)">The Most Defining Aspects Of Our Lives</a>



“It has been a tumultuous journey as publishing in today’s world is not for the faint-hearted. The content has been simply fantastic and the magazine has risen to be the material of choice for inspirational stories. In the last five years, we have covered stories of exceptional women from all over Africa and showcased their great work in business, entrepreneurship and social development. 



We have discussed the trials and tribulations of women in the workplace and become a champion for equality.



The word ‘equality’ is a living value for us at the ABN Group and I am so proud that we have been able to personify our values through affirmative action.”



What has changed significantly over the last five years is a major transformation in the publishing business. The most radical change has been the complete shift in readership patterns and consequently advertising spend for niche publications. 



READ MORE | <a href="https://www.forbesafrica.com/focus/2019/02/01/staying-with-the-narrative-of-change/" target="_blank" rel="noreferrer noopener" aria-label="Staying With The Narrative Of Change (opens in a new tab)">Staying With The Narrative Of Change</a>



Our generation could not do without the morning newspaper or the pile of monthly must-read magazines. Families would make annual subscriptions to a variety of publications that catered to each member of the family.



Reading was in fashion.Our consumption patterns have changed. The new generation of cord-cutters have done away with the status quo; whether television or print, they want to have the ability to consume content on their own terms. 



This fragmentation is unprecedented and has changed the economic models in the industry. This has given rise to a new generation of web-based media organizations that have the ability to provide content in relevant and efficient capsules.



<blockquote class="wp-block-quote">It is time for us to start adapting to this need. </blockquote>



With the changing paradigms and focussing on the needs of our readers, it gives me great pleasure to announce that FORBES WOMAN AFRICA will be offered as a digital only platform with effect from April 2019. 



We will be bolstering this with a plethora of events, the first of which is the 2019 Leading Women Summit, on March 8, in Durban, South Africa.



We do expect to come out with occasional editions of the magazine to continue showcasing the journey of exceptional and inspirational women on the African continent.



-By Rakesh Wahi, Founder and Publisher of FORBES AFRICA

Adapting To The Times

I was recently invited as the keynote speaker at a business networking event in New Delhi. The format and outcomes were a refreshing change from the run-of-the-mill talk-shops we have become accustomed to. 



The closed group of entrepreneurs from diverse industries had weekly targets of meeting each other and providing contacts to establish meaningful and outcome-driven relationships. In the interactive sessions, they spoke about tangible dollar-based businesses generated from each other. Very refreshing, I thought. 



They asked me to share my own journey, first as a military man and then as an entrepreneur. My life changed 38 years ago after a near-death experience in the military at the age of 22.



<blockquote class="wp-block-quote">I was inspired to become proactive and embrace the philosophy of transformation. </blockquote>



My lifelong quest has been to find answers to what drives people to do what they do; why is human behavior so complex and why do people act differently in similar situations.



I asked the group to note five expressions that to my mind
are the most defining in our lives –Circumstances, Making Choices, People,
Opportunity and Change.



As human beings, we are products of our circumstances. In Objectivist Epistemology, Ayn Rand talked about identity. This is derived from our circumstances. We identify things based on individual circumstances. 



One can’t judge anyone’s decisions without knowing the complete background of the individual. We often make mistakes when we have a one-sided view or are blindsighted, especially when we sit in judgement. 



Societies and/or people have different economic, familial or aspirational considerations on the basis of which they behave in a particular way. Extrapolated, someone living in a developed country will have a very different outlook than someone in a closed or emerging economy. 



Circumstances lead us to priorities and the choices we make. At a crossroad, some choose a path that, at times, seems irrational but in reality is the only option the person may have. It reminds me of the story of a farmer who could not buy a horse for his son when it cost him $100 but bought it 10 years later for $10,000; his son was perplexed. 



The farmer patiently explained that $100 represented 50% of his earning when he turned it down but 10 years later, $10,000 was just 1% of his earning. Choices are made in the ‘now’.



The next important aspect are the people we come across in life. Those that influence us and then those we influence. Every leader at the end of his/her life recounts those that mentored them and then those that shared their vision and journey. We cannot live in isolation and therefore form inter-dependence with people that form our universe and circle of influence. 



<blockquote class="wp-block-quote">Everyone you come across teaches you something, some good and some bad; but it’s the summation of your learning. </blockquote>



My own life has been blessed through some of the greatest interactions with some fantastic human beings. There is no regret as each one added to my life. 



People bring with them opportunities which is how we progress; this is true be it national leaders, business leaders or simple human beings trying to find their way in life. When two creative minds come together, there are strains of music that often lead to an orchestra being formed. 



There are solutions and ideas that get discussed. Sometimes, these go on to become world-renowned home runs, some just survive while some fail. In reality, they all try for the same outcome &#8211; to be successful.



Finally, change is the soul of evolution. There is no growth or progress without change. Our world has been turned on its head as technology has caused disruption to become a way of life. All our processes and activities are being redefined in a world now predicated on what is predictive and what is through emotional intelligence. The real task ahead is to recognize change. This is the first step in introspection as humans live in denial. 



READ MORE | <a href="https://www.forbesafrica.com/focus/2019/02/01/staying-with-the-narrative-of-change/" target="_blank" rel="noreferrer noopener" aria-label="Staying With The Narrative Of Change (opens in a new tab)">Staying With The Narrative Of Change</a>



My son once said; bankruptcy is a Kodak moment. Nothing resonates more than the reality of those that fail to recognize change; destroying value through ego or dogmatic policies is a gong for disaster. 



Once the need is identified, the main challenge is to implement and then manage change. We get so used to a comfort zone and accept the status quo and resist change owing to the fear of the unknown. In today’s world however, it’s a lot better to adapt than to perish. 



This evolution from circumstances to change is now over shorter periods of time. In the final analysis, it does not matter what the path is, the key to success is in adapting to the needs of the future and making the necessary changes to survive. The alternative will be a mantle in a museum that will talk about the past and the dinosaurs that were left behind.



-By Rakesh Wahi, Founder and Publisher of FORBES AFRICA

The Most Defining Aspects Of Our Lives

Introspection through the proverbial rear view mirror is a
great gift for everyone; in particular, for business leaders. Our greatest
lesson through the year 2018 was recognizing that life is a complex maze of
change. This was evident through what we witnessed most predominantly in South
Africa. 



The amplitude of the wave following the change of guard was
weighted around an expected positive economic future for this great country.
There is however no magic wand that can deliver a miracle after almost a decade
of hopelessness. I have always believed that change is inevitable and with it
comes hope and growth.



As humans, we expect results almost overnight or then get
disappointed. However, Africa in general and South Africa in particular are
part of a marathon that by definition requires a long-term strategy and a
strong heart. We need to think about building cathedrals that will long outlive
the generations to come. A long-time friend and fourth generation entrepreneur
articulated this value into Cathedral investing. 



READ MORE | <a href="https://www.forbesafrica.com/woman/2018/09/27/celebrating-five-years-with-the-founder-publisher-rakesh-wahi/" target="_blank" rel="noreferrer noopener" aria-label="Celebrating Five Years With The Founder &amp; Publisher: Rakesh Wahi (opens in a new tab)">Celebrating Five Years With The Founder &amp; Publisher: Rakesh Wahi</a>



But staying with the narrative of change, we witnessed and
will continue to be part of a world that is changing at a pace synonymous with
the changing acronyms of our new generations. The most fundamental of it all is
a changing form of government. 



When I first came to Africa 15 years ago, I saw a continent
that had very little to demonstrate in terms of democracy. South Africa being
the high watermark, was like any evolving democracy run by a single party.



In 2008, I was visited by a few close friends in my Sandton
office in Johannesburg when I talked about the fragmentation of the ruling
party and the evolution to a multi-party democracy. 



Freedom brought about by single party movements evolve
through a splitting of the parent into more forms of itself like an amoeba. I
had few takers who would buy into this divisive prophecy. I had no crystal ball
but going by what we witnessed in India, it was a fair assessment of what was
to be expected. 



To my mind, this remains the greatest change that is going to impact the future of all nations in Africa. 



<blockquote class="wp-block-quote">Transition to accountability is a process in all walks of life but more so at a national level. </blockquote>



There is no ‘one-size-fits-all’ in either the process or in the form of government; it must work in the context of an evolving society. There is a view therefore, that the outcome, where a form of government helps the development of society in general and not personal agendas, is a much better form of governance than having a multi-party democracy for the sake of it. 



The factors that have and will continue to catalyze this process of change is technology that above all had brought about much needed transparency.



As business people, we have been trained to look at risk; high on the list after business-related risks are political risks. There is no template for assessing this risk and most pundits have failed in projecting results, including the elections in the United States. 



Risk analysis is invariably in hindsight through bad experience – “Alas, if only I had paid attention and acted differently”. This is where perhaps a well-formed democracy scores well above others as there is a strong sense of accountability and continuity derived from the voice of the people.



Investments are a derivative of opportunity and perceived
risk; the view ahead for sub-Saharan Africa in 2019 is a mixed bag that will
among other things be dependent on elections in the two top economies of
Nigeria and South Africa this year. 



Stability and continuity in South Africa is of the essence
for the continent. There is a need to regroup, consolidate and then step on the
pedal. The interest in Africa, as the last frontier, continues to grow but the
drivers for converting the “fence-sitters” will be consistency and continuity
of policy. 



I am a born optimist and believe that we will see a brighter and better future through positive improvement and not because we are perceived to be scraping the bottom of the barrel.



-By Rakesh Wahi, Founder and Publisher of FORBES AFRICA

Staying With The Narrative Of Change

Rakesh Wahi recounts a deeply personal journey that culminated in an opportune meeting with the Dalai Lama.



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Life is an interesting journey made up of events, experiences and interactions that collectively teach you some important lessons. All of them consciously or unconsciously have an impact on your life; some more than others. There are some events that impact the inner core of your being. 



One such is the loss of a parent. This is a nightmare for any child irrespective of age. I lost my father, Col SP Wahi, on February 13 2017. He had lived his life to the full and left his mark on everything he touched – a true legend.



Grieving is a process and we all deal with grief in our own way. Going through the Hindu rituals around my father’s cremation took its toll on me. I had been through many such rituals, watching other sons grieve their fathers, but living my own was heart-wrenching. 



The flight to New Delhi from Johannesburg was 16 hours including a stop-over in Dubai that seemed like eternity. 



Even at 58, I was numb, with memories flashing through my mind, but most of all, with the fear of not knowing what to expect. My thoughts were with my mother and two sisters as I know how close we all were to my father.



<figure class="wp-block-image"><img decoding="async" loading="lazy" width="922" height="619" src="https://www.forbesafrica.com/wp-content/uploads/2018/12/wahi1.png" alt="" class="wp-image-38166" srcset="https://cms.forbesafrica.com/wp-content/uploads/2018/12/wahi1.png 922w, https://cms.forbesafrica.com/wp-content/uploads/2018/12/wahi1-300x201.png 300w, https://cms.forbesafrica.com/wp-content/uploads/2018/12/wahi1-600x403.png 600w, https://cms.forbesafrica.com/wp-content/uploads/2018/12/wahi1-768x516.png 768w" sizes="(max-width: 922px) 100vw, 922px" /><figcaption>Saloni Wahi being blessed by the Dalai Lama. Picture: Supplied</figcaption></figure>



The most important lesson from this was how a family comes together dealing with the loss of a father, the head of the family. We rallied around our mother through the personal emotions and yet put on a brave front as we dealt with the thousands of well-wishers who poured in to join us in mourning. 



As we started going through the motions of accepting what had happened, an invisible, remote-controlled switch flipped inside me, rebooting me to become a vegetarian and teetotaler. These were my mother’s choices all her life; but it wasn’t just these choices but my thinking that was rebooted, to go back in her service. 



Was this divine intervention for realigning your relationships, or was there something psychologically more profound with one day having to deal with another loss? I have no answer to this question yet.



What, however, followed from this rebooting was a desire to begin planning a schedule for my mother so she could continue her life as usual whilst coming to terms with the irreparable void. 



My mother has been extremely religious all her life and is a devout Hindu who believes in embracing all rituals. Her faith and philanthropy brought her close to many religious leaders including Mother Teresa. The one place she had visited 19 times on pilgrimage was the Vaishno Devi temple in the Indian state of Jammu and Kashmir. 



This has been her calling, to worship the Indian goddesses Saraswati, Lakshmi and Mahakali, all enshrined in Vaishno Devi. Along with my wife and two sisters, I decided to take her on this pilgrimage, for what would be her 20th visit to Vaishno Devi. I had passed through Jammu many times during my military career but as one seldom swayed by rituals, I never deviated from the path. 



This was perhaps my calling.



Vaishno Devi was, as expected, a blissful experience. There is a message when He chooses to test your faith and endurance, and He did test ours. The weather took a nasty turn and a helicopter charter from Katra (a small town in Jammu and Kashmir) was not to be, on our return. 



<figure class="wp-block-image"><img decoding="async" loading="lazy" width="922" height="615" src="https://www.forbesafrica.com/wp-content/uploads/2018/12/wahi2.png" alt="" class="wp-image-38167" srcset="https://cms.forbesafrica.com/wp-content/uploads/2018/12/wahi2.png 922w, https://cms.forbesafrica.com/wp-content/uploads/2018/12/wahi2-300x200.png 300w, https://cms.forbesafrica.com/wp-content/uploads/2018/12/wahi2-600x400.png 600w, https://cms.forbesafrica.com/wp-content/uploads/2018/12/wahi2-768x512.png 768w" sizes="(max-width: 922px) 100vw, 922px" /><figcaption>The Wahi family with the Dalai Lama. Picture: Supplied</figcaption></figure>



My mother, who turned 80 this year, managed the walk down from the temple to the helipad at Sanjichhat and then to Adhkuwari, from where we got her a palaki (palanquin). The four-hour turnaround took us 10 hours.



This was a highlight, but what followed was even more so – a confirmation that the Dalai Lama was in residence at his monastery in McLeodGanj in Dharamsala (a hill station in the Indian state of Himachal Pradesh),and had agreed to give us an audience on September 28. 



This date has always proven auspicious for me, as,coincidentally, a number of my life’s turning points have happened on or adjacent this date. For instance, on this day, 30 years ago, I had finally stepped out of my military fatigues.



This year, on the same date, we were ushered into His Holiness, the Dalai Lama’s ante-room for a private meeting for the family with him. A stream of monks and visitors before us had been granted an audience, so we waited anxiously for our turn. 







<blockquote class="wp-block-quote"> Meeting the Dalai Lama is no longer easy, owing to his numerous commitments and busy schedule.</blockquote>



As His Holiness entered, a few assistants milled around and a photographer frantically clicked away. As briefed, we each held a white satin shawl in our hands that he placed around our necks and then touched our heads in blessing. 



When it came to my mother, he put the shawl around her neck and placed her hand on his head to seek her blessings, after which he touched her head. 



This departure in protocol showed the mark of a great human who recognized another enriched soul.



In the one hour we got with him, he spoke about his beliefs. His first thoughts were on secularism and the reason he continued to live in India – because of tolerance, and the need for all humans to show tolerance to others. He said religion is a subset of spirituality and being good is more important than being religious – “Follow your faith but do not fail to do good as that helps mankind.” 



He spoke briefly about his views on Buddhism in China, where 300 million Buddhists live. He expressed the hope that someday the intolerance would end and people would embrace this noble way of life.



What he was most disappointed about was how the western world had moved away from the basic norms of family and spirituality into a society entrenched in materialism; the loss of basic human values where ever it occurs is a misfortune, he said. He traveled extensively to remind people of their responsibilities, to restore faith and practise spirituality.



His final words to us were about optimism, and inner peace.He advocated seeing everything through a positive lens to be at peace with oneself. This was the only way to progress and to remain strong.



“Life is not complex if you stay positive, stay at peace and do good,” he said. Simple but profound words that make a difference in our lives; we all know these only too well but in our everyday pursuits overlook what is indeed important.



He blessed us by giving us copies of his book, and obliged us by posing for many photographs. Before we left, my wife, Saloni, spoke to him about Tonglen (something she has been reading and practising) and he was surprised someone knew about this teaching. He blessed her and immediately asked his staff to present two books to her that he personally signed. 



<blockquote class="wp-block-quote"> What resonated most for me was his belief about actions being louder than words. Being good, doing good and helping others are a way of life that should be our religion and not just rituals.</blockquote>



This was the belief of my late father and perhaps this opportune meeting with His Holiness completed a circle in my life for which it was destined. 



I have always said that you meet people for a reason and
that they come into your life for a reason. There is immense pride in me to
have met Madiba (the late Nelson Mandela), in 2006, and now His Holiness, the
Dalai Lama. I take inspiration from these selfless humans who have chosen a
path that has afforded them an opportunity to touch the lives of millions. 



– The writer is Co-Founder of the ABN Group that includes FORBES AFRICA and CNBC Africa.

Wahi

‘Life Is Not Complex If You Stay Positive’

As 2017 gets into full swing I am reminded of the launch of CNBC Africa 10 years ago on June 1, 2007. To say time flies is an enormous understatement. I can only imagine how the Founder and Vice Chairman of the Africa Business News Group, Rakesh Wahi, must feel considering he first arrived in Africa with just a briefcase in hand 12 short years ago. Now he has a business news conglomerate with Africa’s only continent-wide business channel and Africa’s number one monthly business publication, namely and FORBES AFRICA respectively.
Back in 2007, months of rehearsals finally led to the evening of June 1 when CNBC Africa, with a flick of a switch, came to life. Then South African President Thabo Mbeki was the first interviewee on that auspicious occasion. Corporate South Africa was in full attendance. The rehearsals paid off and CNBC Africa’s first broadcast to 48 countries across sub-Saharan Africa went off without a glitch.
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The next morning, broadcast began in earnest with eight hours of African business aired around the channel’s flagship shows: Open Exchange, Power Lunch, Closing Bell and Business Tonight. Ten years ago, the Africa rising story was burning bright but aggregating business content across Africa was still an enormous challenge. CNBC Africa was pioneering territory that no one else had attempted on such a large scale. Businessmen and women across Africa were not well versed in regular, live television interviews and market commentators were still relatively media shy.
Over the last 10 years the channel has played a significant role in unlocking the continent’s business talent and today, as the depth and breadth of African capital markets rapidly improves, African business interviews are happening with regularity at across the continent.
Today, CNBC Africa is taking regional integration to the next level. It’s hard to beat a real-time pan-African conversation with Lagos, Nairobi, Kigali and South Africa all simultaneously on screen exchanging West, East and southern African business news throughout the day.
Those early days also bring to mind some of the many lighter moments that are an inevitable part of any TV channel’s launch phase. One such moment was with my then co-anchor Byron Kennedy, who now heads up corporate affairs for Vodacom. Let me try and talk you through this.
Business Tonight was in full swing, Byron and I were co-anchoring. In the early days we were heavily reliant on the shows production script which detailed which guests were expected at what time during the show. Two guests down and the live show was progressing well. The third guest was seated and, relying on my script, I confidently introduced the guest as Kevin Weeks, Head of the South African Automobile Association. At this point we were on a wide shot – the audience could see Byron, myself and the guest, who was shaking his head violently. Byron immediately jumped in and stated to both the audience and to me “No, it’s definitely not Kevin Weeks…”. But he had no idea either who the guest was and threw me a hospital pass. The director had at this point not established that we were in trouble and instead of cutting to a commercial break – the default if something goes horribly wrong – he maintained the wide camera angle which meant that the audience was not missing a beat. I had no option but to lean over slightly and asked the now bewildered gentlemen the following question “Excuse me sir, what is your name?” followed by “What are we speaking about?”
Needless to say, we have come a long way from then. I felt much better when I was told to google “BBC Taxi Driver” and realized that it happens to the best of us.
But back to the present and the fact that we are now all grown up, in business years that is. Happy 10th birthday CNBC Africa in 2017; it’s been an incredible journey and I look forward to the next decade as we continue to tell the African business story unlike anyone else.

10 Years  Of Magic And  The Odd Mishap

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

The Entrepreneur’s Entrepreneur

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

Rakesh-1

5 Minutes With Rakesh Wahi

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FORBES AFRICA has told many spellbinding business stories in its five years. The story of its own difficult birth is one of the most riveting.
The idea of the pan-African business magazine was born in the heart of a financial crisis which wiped out many investors and left businesses lucky to survive. The media suffered the most.
In the depths of the downturn in 2007, soon after launching CNBC Africa, a business and finance TV channel, the two founders, Rakesh Wahi and Zafar Siddiqi, wanted a magazine. It was the worst time to launch.
“The whole publishing market was collapsing around us. To launch a new title at that time; people externally would have said you are foolish. Some of our other shareholders did not want to invest in the publishing business owing to the economic downturn,” says Wahi.
The pair refused to throw in the towel.
“I had a strong feeling this was going to work. When I told Zafar about it, he only asked if how I felt about it and I told him that the brand would be an instant success and after his thumbs up, we ran with it.”
Towards the end of 2009, a meeting in New York sparked the interest in joining the worldwide FORBES family. The magazine has a string of franchises around the world, from FORBES MEXICO to FORBES INDONESIA.
Wahi followed his gut, in the face of scepticism.
“Every time we spoke about FORBES, people’s eyes would light up,” he says.
It was the right time, he believed. The pair waited for the market to turn around slightly and made their move.
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“We didn’t like that very few African business leaders had made it into the international version of FORBES… people didn’t understand that there is so much entrepreneurship going on in the continent,” says Wahi.
It wasn’t easy. Building a pan-African magazine was expensive and complicated; but the gap in business and finance reporting in the continent was there to be filled.
It took about two years to complete the legal agreements of the franchise. The most difficult challenge was hiring the right people to steer the magazine to the top. Wahi’s 13 years in the Indian army, where he had become one of the youngest to receive the Vishisht Seva Medal (a military decoration in India) in 1986, helped.
“The army teaches you about looking after people. The core of it is that you have to do things together and you have to inspire people.”
He brought these principles with him to the world of entrepreneurship.
“When we were looking at finding an editor for the magazine, I searched around trying to see who would be the right fit… I was impressed by the experience people brought to the table but something was always missing… Chris Bishop’s name came up because he had done a great piece of work for me a couple of years before that, and impressed, so we took him on… He said he would even do this job for free,” recalls Wahi.
Magazines were in trouble everywhere. In the United States, according to MediaFinder, 152 closed in 2011 and 82 in 2012. In South Africa, Heat, Seventeen, FHM, Sports Illustrated and Shape are a few magazines that shut down because of declining advertising, circulation and competition from online.
Despite this, on September 28, 2011, on a night of glitz and glamour in Johannesburg, billionaire Patrice Motsepe unveiled the historic first cover of FORBES AFRICA.
It turned out that Wahi’s decision to hire Bishop was the right one. In just five years, the team has turned FORBES AFRICA into the leading business magazine in Africa against the odds.
The magazine came out ahead of its competitors in the IPSOS Affluent Survey Africa in 2014 and 2016. The independent research study, released on August 4, shows FORBES AFRICA reached 163,000, or 4.7%, of the 3.4 million qualifying adults, aged between 25 and 64, across seven markets.
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“What we have managed to achieve in just five short years is truly remarkable. Our success is attributed to the hard work and dedication of our teams from across the continent,” says Sid Wahi, Executive Director at ABN Publishing (FORBES AFRICA).
The IPSOS 2016 figures show a 7% increase from the 2014 survey.
“As the founding editor of this magazine it gives me immense pride to see our circulation figures increasing; all this at a time when magazine circulation around the world is falling. I think this is a tribute to the hard work and determination of our young band of highly talented journalists,” says Bishop.
FORBES AFRICA’s work has been recognized by various accolades awarded to the journalists and the editor. The hard work is also appreciated by readers. In Zimbabwe, entrepreneur, Blessed Mushamiri, says he drives around the city looking for a copy each month.
“Sometimes I have to drive to five different uptown shops to bump into one but I don’t stop looking. If I can’t find one, I ask people in South Africa to send me some copies. When I read FORBES AFRICA it engages me in an affair of pure pleasure, an exciting brush with business in Africa that shows me, as a young entrepreneur, that I can participate in something rare and thrilling. It is a must-read for every businessperson,” says Mushamiri.
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In West Africa, Emeka Akano, CEO and Co-Founder of Jara Mobile Ltd, says reading about entrepreneurs from different backgrounds who make it to the FORBES lists has inspired and motivated him.
“Features in the prestigious FORBES AFRICA magazine have gone a long way in giving me much more exposure to a credible audience, increased my personal profile beyond measure, opened doors for new business opportunities and business connections,” says Akano.
No matter the praises, Wahi says there is still more work to be done. He wants to grow the magazine to an even bigger success story, as with many of his other businesses.
Wahi is a smart entrepreneur and risk taker. An audacious one, five years ago, put this magazine in your hands.

Behold The Business Bible Of Africa

Saloni Wahi puts down her cup of coffee and shakes her head. The café we are in is buzzing with young TV journalists and executives respectful of her presence. Saloni smiles and exchanges a word with each of them, inquiring about their work, asking about their families, radiating the warmth she is synonymous with.
It is hard to ignore her; and harder to describe her. A few minutes with her and you are convinced no one description would suffice: she is wife, mother, businesswoman, artist, gourmet chef, philanthropist, and above all, a perfectionist.
“Credibility is everything to me,” she says, thumbing through a sheaf of papers. She is organizing a fundraising event for the ABN Education Trust on September 8, and there is much to do, details that need to be ironed out. Yet, you can tell it’s not the event she’s worried about. It’s the beneficiaries that are her real remit: children in need, women in despair, single mothers who are abandoned.
There’s pathos in her voice as she talks about acts of kindness that can change the lives of the less fortunate.
“It doesn’t matter whether you are in India or Africa, children are the same everywhere. To me, giving back is integral to my being,” she says.
Originally from Delhi in India but based in Dubai since 1989, Saloni moved to Johannesburg in 2007 after her husband, Rakesh Wahi, along with Zafar Siddiqi, set up the ABN Group, which includes CNBC Africa and FORBES AFRICA.
In 2011, they began talking about setting up a foundation, the ABN Education Trust, for their charitable activities, and decided on two causes. The first to develop skills in financial journalism by providing bursaries for a few children, drawn from disadvantaged families, each year at the University of the Witwatersrand and University of Johannesburg. During the graduation, they are offered internships and subsequently have the option of fulltime work with the Group.
“I received a bursary from the ABN Trust and the icing on the cake was the life-changing opportunity to work for an internationally-affiliated media company. Today, I get to live my dream every day,” says Leigh-Ann Carey, one of the beneficiaries who is now a trainee producer with CNBC Africa.
The second segment the Trust prioritized was orphans.
“We started working with an orphanage in Alexandra. Most children were abandoned by HIV-infected parents. It is creditable how the founders and caretakers of the orphanage have worked tirelessly to help children that would otherwise have died or ended up on the street,” says Saloni.
<img decoding="async" loading="lazy" class="size-medium wp-image-29507 alignleft" src="http://www.forbesafrica.com/app/uploads/2017/05/Saloni-Wahi_7644-1-300x212.jpg" alt="" width="300" height="212" srcset="https://cms.forbesafrica.com/wp-content/uploads/2017/05/Saloni-Wahi_7644-1-300x212.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2017/05/Saloni-Wahi_7644-1-600x423.jpg 600w, https://cms.forbesafrica.com/wp-content/uploads/2017/05/Saloni-Wahi_7644-1-768x542.jpg 768w, https://cms.forbesafrica.com/wp-content/uploads/2017/05/Saloni-Wahi_7644-1-1024x722.jpg 1024w, https://cms.forbesafrica.com/wp-content/uploads/2017/05/Saloni-Wahi_7644-1.jpg 1023w" sizes="(max-width: 300px) 100vw, 300px" />
Over the years, through the Trust, Saloni has committed her resources towards caring for the children, participating in Christmas parties, gifting them provisions, and buying them a bus to safely commute in.
“None of our efforts would have seen fruition without the efforts of the entire team at the ABN Group, particularly Roberta Naicker, Nola Mashaba and more recently, Sian Schlebusch. We are currently working with the orphanage founders and management to find a permanent shelter for the children. This is a critical requirement,” she says.
Saloni has made a significant financial commitment towards this cause. In addition, the ABN Group has also been blessed with support from partners such as the IDC that has contributed directly to the orphanage.
“Our intention is to help facilitate resources for these causes and take these initiatives to other parts of the continent where we are setting up meaningful businesses. We would be expanding these activities to Ghana, Nigeria and Kenya. Along with Roberta and the team, I will be now looking at how to put a formal structure to the foundation in these countries,” says Saloni.
Philanthropy is not new for the Wahis. Hailing from an illustrious business family in India, Saloni says she has seen acts of kindness from a young age. Marrying into an equally-philanthropic family has allowed her to continue to do social good all through her life which is integral to her existence.
And like most people, Saloni’s journey has not been without significant responsibilities.
“When my husband started out in business after leaving the Indian Army [in 1988], I had a challenging life. Ricki [Rakesh] was traveling to Russia and other parts of the world as he was trying to make a success in a very different world from the Army. Not only did I have the responsibility of bringing up Sidharth and Shweta, but I had to double up to support all the executive functions of the small trading business we had established.”
She continued through thick and thin as the solid anchor for the family making sure the children never missed anything and Rakesh had all the support he needed at work.
“I could never have achieved anything without her indulgence, positivity and perseverance,” says Rakesh, “she has truly been my compass and Rock of Gibraltar.”
With a continued focus on education, the Group has recently set up a university in Ghana with Lancaster University in the UK; it’s their second initiative after the Murdoch University in Dubai; and they offer scholarships to students on both campuses.
Excerpts from the interview with Saloni:
Your philanthropic take on wealth creation?
My great grandfathers had established charitable trusts in India and I have seen the family’s involvement in schools and hospitals in North India that benefitted children from disadvantaged families. Their work has outlived their time on earth. This is true wealth creation. Both my husband’s parents have been involved with setting up institutions to benefit the poor. For me, as a woman, if the work my husband and I are doing is carried forward and built on by our children, I would consider myself blessed. Both children have been involved with the Trust through their own contributions. Sidharth, our son, is a Trustee, while our daughter, Shweta, a young fashion designer, has raised significant funds through her own initiatives and has recently offered fashion school bursaries in Mauritius.
How important is it for African businesses to give back?
Africa occupies a unique position – on the one hand, it is the cradle of mankind and has abundant natural resources. On the other hand, it’s a young continent with respect to its economic development. For all-round inclusive economic growth, it is imperative private business plays an important role along with the state. While a lot is being done by both corporates and individuals, given the magnitude of the continent, and the nascent stage of its development, a lot more needs to be done.
Is enough being done to educate women, especially in areas such as reproductive health?
There are several programs undertaken by developed countries on issues of malnutrition, infant mortality and reproductive and maternal health. I do not believe enough is being done. Providing care in the early years of an infant is crucial for mother and child.
I would also like to highlight the prevalence of ‘single mothers’ across the continent. To my mind, this is what makes the African woman most vulnerable. There is a need to educate both boys and girls about the importance of family values and taking ‘basic responsibility’ for nurturing the infants they bring into this world. Education on the ‘development of a responsible family unit’ will be significant  in solving issues like crime, HIV, unemployment, and will provide protection for the girl child. The approach has to be preventative rather than only curative or crisis-based.
Any advice for juggling work and family?
You need to balance your life and set clear priorities. These must not be compromised either at work or on the family side. The second most important aspect is sharing responsibilities with your partner. This is critical for the right balance. Yet another aspect is developing hobbies. We tend to neglect what we are passionate about. Besides the Trust and my involvement with the family investments, I am passionate about cooking, golf and pottery.
A charity auction and fundraising morning with the theme ‘Heavenly White High Tea’ will be held in aid of the ABN Education Trust on September 8 at 54 on Bath, Rosebank, Johannesburg. To book a table, call +27113840314.

Going  Above & Beyond

A deep horn blast was used in a slice of history at Africa’s biggest stock exchange. It was from the lungs of Rakesh Wahi, Founder and Vice Chairman of Africa Business News (ABN), signaling the opening of the bourse, as CNBC Africa crossed a new frontier in business broadcasting on the continent.
CNBC Africa – the sister of FORBES AFRICA in the ABN stable – became the first African broadcaster to beam shows from the Johannesburg Stock Exchange (JSE). It came on the eve of the company’s seventh anniversary.
“It’s an exciting time; I haven’t stopped smiling since yesterday. It is to the credit of the people around you who have all done a fantastic job,” says Wahi.
CNBC Africa is emulating the example of CNBC in the United States (US), which has broadcast from the New York Stock Exchange since 1995. This move is all part of a bigger plan.
“Our vision is to be in all 48 countries in sub-Saharan Africa. We have to be in all the major exchanges and report from the smaller ones. We need to be able to integrate all these exchanges through information flows. We need to be able to go out and educate people about what markets are,” says Wahi.
The new studio is state of the art. It includes an eight cube video wall, six interview positions and robotic cameras – which will be fully controlled out of the gallery and will minimize additional camera crew. The main anchor desk, resembling a star, is a copy of the one used both in Europe and the US.
It will host Open Exchange, Power Lunch and Closing Bell, with regular crossings to Nigeria, Kenya, South Africa, Mauritius, Uganda, Zambia, Namibia, Rwanda, Mozambique, Botswana, Gabon and Ghana.
Jean Landsberg, the head of technical and operations for the ABN Group, traveled to New York and Singapore to check out the latest technology.
“When I traveled to the SGX in Singapore and New York, I got an idea how they put their infrastructure in place… whereas Singapore still link in to their [stock exchange], from the main studio, we will be actually running everything and all the operations from the JSE studios. So it’s a little more advanced than what Singapore is doing,” says Landsberg.
LED technology will be used to reduce the power consumption by the studio lights and the video wall. Landsberg says, as time goes by, small technological frills will be added.
The new technology is in the interest of keeping business people better informed about what’s happening inside Africa’s biggest bourse.

The First Lady of the road

On The Pulse Of The Markets

Climbing Kilimanjaro is on the bucket list of most people on the African continent. Most of us at the ABN Group have had a personal ambition to make this trek but the opportunity came in the form of a corporate memo from our founder, Rakesh Wahi, who asked for volunteers. All of us that went on this mission enrolled without really understanding the implications of what we had signed up for.
What followed was four months of training and getting ready for our greatest test of physical and mental endurance. We went on several hikes as a team, culminating in the final climb of Sentinel Peak in Drakensburg, South Africa. Through this period we assessed the strengths and weaknesses of team members and came up with a marching order and buddy pairing that in retrospect were the main reasons for our success.
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A few days before we set off for the trip, I was given the responsibility to lead the 15-strong team, including two members joining from Murdoch University Dubai (an affiliate company). Rakesh gave me one task: Do what you need to but make sure that all 15 people make it to the top. Failure was not an option. For a mountain that has a 41% success rate for climbers, this was not an easy goal. Our head guide validated that of the 150 teams he had taken up the mountain over 10 years, only nine had a 100% success rate.
What followed between March 11 and 17 was one of the most exhilarating experiences of self-discovery for each and every one of the team members.
For corporate governance, our travel policy dictated that we set out from Johannesburg in two teams that regrouped in the sleepy town of Moshi in Tanzania. Some of us saw the magnitude of what lay ahead as we saw the majestic Kilimanjaro in the far distance, rising above the clouds at the same altitude at which we were flying. We assembled at the Keys Hotel and shared a memorable dinner of pizzas and beer and a final bath with the understanding that the next seven days would be spent in lesser luxuries.
After a group briefing and an introduction to the team of seven guides, 46 cooks and porters we set out on March 11 for the first day’s hike on the Rongai route. Most of us had packed about 13kg into our backpacks (constituting water and foodstuff) and a 14kg duffel bag was carried by our porters with all our clothing and provisions. We had expected rain on this hike but didn’t realize that it would hit us as soon as we started. Young children walked with us, nonchalantly in the rain, making us forget the discomfort. We ended the first day’s hike after an 11km march that we completed in four hours ending at an altitude of 2,400m. Other than the rain, this was an easy trek. As we walked to our camp site we were greeted by eight yellow tents pitched close together that were to become our home for the next six nights.
Our routine for the first five days was quite consistent; getting ready by 7.30AM, breakfast at 8AM and the daily march from 9AM to 2PM to reach the next base camp. We progressed steadily from 2,400m on day one, to 3,450m on day two, 3,683m on day three, 4,300m on day four and 4,730m on day five. Each day we would acclimatize by walking up about 200m in altitude with the concept of “walk high and sleep low”. We discovered, to our delight, that CNBC Africa presenter, Samantha Loring, is a qualified yoga instructor and she would make the team stretch and do breathing exercises that appeared frivolous when we started out but became our lifeline as we climbed above 4,000m.
Some events became common through our journey: The early breakfast of eggs, porridge and bananas, warm pea or cucumber soup for lunch, welcoming tea and Milo with popcorn at 4PM each day, before acclimatization, and soup with an overdose of starch and protein for dinner. The rule was to finish three liters of water at a bare minimum each day. One thing was clearly evident—organizers were making sure that we packed extra calories for the final assault on the last day.
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The build up for the first five days was gradual and most of the team managed to get by with little or no discomfort. Communications had died with the expended battery life of our cellphones and the solar charging devices were a disappointment. Despite the shortcomings, I did manage to speak with my five-year-old son, who was distraught that daddy was gone for a week; for all of us the contact with families remained comforting and a constant encouragement.
We started the assault on Uhuru Peak at midnight on March 16, with our headlamps providing the much-needed beacon of hope as we progressed slowly, but surely, up a 70 degree gradient. The temperature dipped to approximately -17 degrees and winds picked up as we reached 5,000m. The journey from there to Gilman’s Point, at 5,700m, took us about seven hours. As team leader I was put under the most severe test as I tried to help team members face their individual challenges. We stopped for comfort breaks periodically but stayed together through all that the mountain could throw at us and the whole team made it to Gilman’s Point. This was our first milestone. The journey to Uhuru Peak from Gilman’s Point took approximately two hours and we all finally summited at 9.15AM on March 16.
Reaching Uhuru Peak saw emotions flow from all team members. Tears of joy were the expression of accomplishment and pride that we all felt. Once rested, the team decided to do the Harlem Shake, which was undoubtedly the expression of insanity that overcame everyone for a moment. The team then made its way back to Kibo Hut in three hours to a well-deserved hot lunch and nap before moving down to the next base camp. The ABN team conquered Kilimanjaro to become only the 10th team that our guides had managed to all take up to the top of the mountain.
As team leader, I saw some changes in every one of my team. First and foremost, 15 individuals went up the mountain but one family of 15 came down having accomplished the mission successfully with a priceless bond that will be cherished forever. What did we all learn? Just one lesson: No goal is too great or too small to accomplish if you work slowly and steadily as a team. In addition to this, as a leader I learnt that a leader needs to show genuine concern for his team and be there for them, larger than life, when they need him most.
<h4>Rakesh Wahi—the vice chairman of the ABN360 Group—dreamed up and financed the trip. He is a fit 53-year-old, who spent nine years of active service as an officer in the Indian Army and knows all about rough roads and battles.</h4>
Why Kilimanjaro? 
“The trip was symbolic of where we see ourselves as a business. Climbing Africa’s highest mountain and the highest freestanding mountain in the world resonates with our vision to be Africa’s leading business media conglomerate. The true test of leaders is when you push them over the edge from their comfort zone into a zone of physical and mental hardship, and then observe their ability to think, rationalize, overcome hardship, carry their team members and reach a group goal. The behavior patterns of people change in such grueling conditions and personal survival can sometimes overtake a group goal. But, like in a battlefield, personal matters must become secondary to a bigger cause that everyone must believe in. That cause then defines the success of the team and motivates them to achieve the goal… This kind of physical and mental test cannot be achieved in a beach resort.”
How difficult was the ascent? 
“There were several challenging moments. From a physical point of view, many members developed different ailments from fever, fatigue, insect bites, sunburns and altitude sickness to nausea and stomach-related viruses. On the mental side, the main challenge came on summit night when people had to call for their inner strength to make it to the top.”
How did it feel to stand there proudly at the summit? 
“I could see emotions flowing down each one’s cheeks and the pride on their faces to have made it to the top together. When we started out, there were 15 people with different identities and backgrounds. When we reached the top, I could see that a family was born… On a personal level, it was a great achievement as my son, Sid, was also on the team. It was a great opportunity to spend time with him and see him face his own challenges to make it to the summit, despite getting altitude sickness and severe hypothermia.”
The Harlem Shake? 
“This was indeed a surprise item on the agenda. The average age of the team was under 30 and a lot of their language, music and conversations were foreign to me. I did however, enjoy everything that I heard. I was at a loss when I was asked to join in the Harlem Shake but did it as requested by the team. I rehearsed it with the team at 4,700m and they were overjoyed to see me participate. I think it was a victory lap for the modern generation and could well have been any other form of expression. I thought it was rather cute and unique when I saw the final product on YouTube; after all how many people have behaved like complete lunatics at 6,000m.”
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A Breathing Break And A Harlem Shake  On The Rooftop Of Africa

FORBES AFRICA’s publisher, Rakesh Wahi, is also the co-founder and vice chairman of Africa Business News (ABN), which also owns CNBC Africa.
<div id="attachment_43" style="width: 484px" class="wp-caption alignleft"><img aria-describedby="caption-attachment-43" decoding="async" loading="lazy" class="size-large wp-image-43" src="/wp-content/uploads/2017/04/FORBES_MAG_027-1024x682.jpg" alt="" width="474" height="316" />Deal of a lifetime: Rakesh Wahi signs the FORBES AFRICA franchise agreement with Gary Alfonso, editor-in-chief; Roberta Naidoo, general manager; and Sid Wahi, project manager in attendance.</div>
<h3>As an entrepreneur in the media space in Africa, why did you choose FORBES AFRICA as your next venture?</h3>
Our vision for ABN from the beginning was to create a business media conglomerate that would have a point of presence in all African countries. The intent is to have a mechanism to aggregate real-time information from across the continent and roll it out in different media, namely television, print and online. Both aggregation and exhibition have to be carried out in tandem to make the business model viable.
The television business was set up in June 2007 with CNBC as our partner. CNBC is a global leader in business television. For the print business we evaluated several options, but the FORBES brand is the one that my partner, Zafar Siddiqi, and I pursued as it is, to our minds, the most inspirational business magazine in the world.
<h3>How did it come about?</h3>
My interaction started with the management of FORBES in June 2008. They had tried to enter the African market earlier but were not able to find the right partnership model, and hence were also waiting for the right opportunity.
As in any business relationship, there was a lot of due diligence requirements and submissions of business plans, etcetera. Our vision and our presence in the business media genre were clearly key factors, which went in our favor.
<h3>What did the process entail? Was it complicated or simple?</h3>
The process, by our own requirements, needed us to carry out an in-depth analysis of the print industry in Africa and the gaps that we wanted to fill in a market that was cluttered with a lot of other good quality products. We had to first convince ourselves that there was a demand and secondly, we were well placed to meet that demand. I allocated sufficient resources to making this initial determination.
Our initial findings were positive, with several cautions. We had to work through these red flags to make sure that we had the right answers—firstly, from the perspective of the market, and more importantly, viable commercially, keeping in mind the expectations of FORBES.
I think that in any venture, it’s important to spend a lot of time on getting the fundamentals right. The process, therefore, is not complicated or simple, but is mainly focused on being very thorough. The legal agreements were cumbersome and I had a good team, led by Gary Alfonso and Roberta Naidoo, working with me on the transaction.
While the recession delayed our plans, the real challenges started once we took a decision to launch. My son Sidharth stepped up as the project manager for the business and has worked tirelessly with the team to set the ball in motion. We now have a full team on board, with Chris Bishop leading the charge as managing editor.
<h3>Why did you see FORBES AFRICA particularly as an opportunity? Isn’t print journalism a dying breed in the world of publishing?</h3>
I would not have ventured into this business without having the synergies with our existing business. We have operating synergies in the business news genre and this was the primary consideration. Zafar and I spent a lot of time with our shareholders and management team to analyze issues and came up with a plan that we thought would work.
<div id="attachment_42" style="width: 484px" class="wp-caption alignleft"><img aria-describedby="caption-attachment-42" decoding="async" loading="lazy" class="size-large wp-image-42" src="/wp-content/uploads/2017/04/IMG_5509-2-1024x683.jpg" alt="" width="474" height="316" />Co-founder and Chairman Zafar Siddiqi with publisher and co-founder Rakesh Wahi</div>
Keeping in mind media consumption habits of the future and recognizing that the future lies in hand-held devices, we have a strategy on building the subscription model via the internet. The shape of the final product will be revealed in the not-so-distant future and is being worked on together with our partners in New York.
<h3>What’s your vision for a media group that now owns the Africa distribution rights of two of the most powerful business news brands in the world?</h3>
Our vision remains unchanged on our ambition to be Africa’s most powerful business media conglomerate. We are expanding our geographic network and will have a physical presence in 10 African countries by 2012 and 18 countries by 2014.
We see ourselves looking at distribution as a means to achieve our goals for viewership and will be seeking partnerships on terrestrial networks across Africa, and where possible, acquire networks.
On the print side, we are interested in adding to our stable and will seek other titles that we can bolt into our business to achieve efficiencies and additional economies of scale.
On the internet side, we are building great momentum on ABN Digital (www.abndigital.com) and via YouTube, where more than one million views of our content have been downloaded. Evolution of the telecoms sector will bring about a lot of changes in the delivery of content and we are making all the necessary arrangements to be there when that happens.
<h3>What’s your view on Africa as a marketplace? And the future of the media industry on the African continent?</h3>
Zafar and I are both great believers in the African story. We have been here for seven years now and think that this has been the most incredible learning experience of our lives.
If you analyze Africa without South Africa, you will see the opportunity in every area of economic development. Media is very immature on the continent, from both a reporting and consumption perspective. The revenue drivers are tough; skills are lacking and costs are high. Consequently, there has been limited interest for media companies to push ahead on a pan-African model.
<div id="attachment_44" style="width: 484px" class="wp-caption alignleft"><img aria-describedby="caption-attachment-44" decoding="async" loading="lazy" class="size-large wp-image-44" src="/wp-content/uploads/2017/04/FORBES_MAG_049-1024x683.jpg" alt="" width="474" height="316" />The FORBES AFRICA team</div>
Our shareholders, like the IDC, share our vision to build the African marketplace. It is my belief that the industry needs to rally behind some common objectives of sharing and building capacity on the continent. Governments have to be active participants in the process of deregulation and being active catalysts to growth, and not become impediments to the free flow of information. Transparency is an inevitable part of economic growth and media will play an important role in shaping the opinion of constituents.
I do believe that we are already adding value to this process and hope that we can achieve all our near-term goals on the continent.
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Tag: Rakesh Wahi

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