During her time away from Malawi, Joyce Banda served as a distinguished fellow at the Woodrow Wilson Center in the United States, and has just finished writing a book, From Day One, on the issues around women and the girl child.
What are you looking forward to and how does it feel?
I am so happy I have done all I wanted to do and am going home. There’s much excitement in Malawi… I guess I am the only one not excited… It has been a week of hype and I am totally surprised and humbled because I didn’t know just how much Malawians love me.
We don’t have any female presidents on the continent at the moment… why are there so few women in politics?
Women’s leadership is under attack globally. Start from Australia, look at what happened to Julia Gillard. And you go to Thailand and look at what happened to the former Prime Minister…
I’ve been speaking a lot in the US and the question I always ask is ‘tell me why [as] the oldest democracy for 200 years, [why] you have not managed to have one woman in state house’?
Coming back to Africa, we haven’t done badly, at least we had four women. We went to Beijing in 1995; we agreed that it was part of the work plan that we are going to come back and get into leadership. I remember asking Mrs Gertrude Mongella, who was the Secretary-General of the UN Fourth World Conference on Women, ‘because men are already sitting in the seats, how can we go to parliament?’ They said ‘go and push them if you have to’. And we went home, tried our level best and got into leadership.
In Africa, go one by one, and check how they left, go and see what Catherine Samba-Panza is going through in Central African Republic; see what is happening in Mauritius to our friend who just left a few weeks ago. So at the end of the day, you ask, why is it we don’t have any more female leaders in Africa? My answer is we have done well as a continent, we have found ways of getting our women into state house, but perhaps what we have to do is learn how to keep them there. And Africa hasn’t done badly.
Somebody asked me, what can I say about feminism? I said ‘no, Africa shall have it all; it shall design its own because we can’t copy what’s happening elsewhere unless we are convinced it’s working there’. But how can we copy other models where women are still not getting equal pay, where women can’t even go on maternity leave, where for 200 years, there’s no female president? The continent with the highest number of women in parliament is Africa – three countries have 40% women in cabinet. And the time I was head of state, I took advantage of that position to appoint my fellow women… The advantage of us cutting into state house is we focus on social issues; we want people to have electricity, clean water and fuel every day. We want hospitals to have medicines, we want schools to have school materials but the challenge is how do we keep women in state house?
Is the patriarchal mind-set to blame?
It is. In fact I think the death of Mama Winnie Mandela and all that has been revealed these past weeks has opened the debate and women are sitting down and saying, ‘how could we not have seen?’ Because we never did… That’s what her daughter said when she spoke at the funeral: ‘why did you people wait until my mother is gone, to vindicate her?’ That is the kind of pain women are going through and nobody seems to care. I don’t know why the media doesn’t seem to dig more into this misogyny, and abuse to women leaders…
Do you have presidential ambitions again?
No. It is not up to me. I don’t care about going to state house… I am just going back home.
Are you returning to politics?
I am not planning anything. From this far, I don’t know the political landscape on the ground. I am highly experienced in politics. And I was very fortunate. When my husband retired [as chief justice], I decided I can enter politics. So I did at age 54, I was late… the president didn’t allow me to join the national executive committee so he sent me down to the grass roots. So I came from the grass roots as a treasurer in the village. I had the opportunity to study and I was fortunate when elected head of women in 2003 in my party…
What have you been up to in the last four years?
…In the time I have been away from home, I’ve spoken 37 times, received 12 international awards, written two papers, written a book, been appointed to five international awards and received an honorary doctorate. Everybody who has been with me in the US know I’ve run non-stop. It’s been time well spent. At the Woodrow Wilson Centre, they even assisted me to draw up a tool kit. I can now go into any country and speak with authority about how I feel women should be treated, how the space should be created at the table for women to participate in leadership.
In Malawi, what are your plans for women and children, through your foundation?
The Joyce Banda Foundation is bigger than Joyce Banda. I established it in 1997 when I received the Africa Prize so it cuts across all parties. It has 500,000 women beneficiaries in micro finance, it has sent to school 6,500 girls, it has a sponsorship program, and a youth program. We have five pillars in the Joyce Banda foundation: one is income, we believe that in the rural household if there is income the woman is in control and can provide better health and nutrition and even send girls to school and will also make decisions about her life; she can make choices to stay or leave an abusive place.
The second pillar is education for the girl child, because if she doesn’t go to school, then she is exposed to all harmful traditions. The third is maternal health. My research has shown that those that have died giving birth are between the ages of 11 to 19. So there is a connection with education. This girl child should go to secondary school. The four years in secondary school is not just about her future, it is also about her health.
The fourth pillar is leadership. I believe we must find ways; hence my research, find ways of allowing more and more women to enter politics and participate in leadership. And the last one is human rights which is a cross-cutting pillar.
What is the current investment climate in Malawi?
I believed the day I left office, I needed to step aside and look the other way. And provide an opportunity for the sitting president to freely show his capabilities. He is my president because I conceded and I accepted that he can become president, so the last thing that I want to is poke my nose into what he is doing right and not.
I just feel sad and surprised when they say people are going 36 hours without electricity… I don’t understand some of the hardships my Malawians are facing because I say this boat is connected when you ask about the investment climate. There is nobody who is going to invest in a country that has 170MW of electricity. That doesn’t happen.
– Interviewed by Methil Renuka; for the full interview, visit www.cnbcafrica.com
Quote Of The Day
“We have grown past the stage of fairy-tale. As women, we have one common front and that is to succeed. We have to take the bull by the horn and make the change happen by ourselves.– Folorunso Alakija, Billionaire Businesswoman
From The Arab World To Africa
In this exclusive interview with FORBES AFRICA, successful Dubai-based Emirati businesswoman, author and artist, Sheikha Hend Faisal Al Qassimi, shares some interesting insights on fashion, the future, and feminism in a shared world.
Sheikha Hend Faisal Al Qassimi wears many hats, as an artist, architect, author, entrepreneur and philanthropist based in the United Arab Emirates (UAE). She currently serves as the CEO of Paris London New York Events & Publishing (PLNY), that includes a magazine and a fashion house.
She runs Velvet Magazine, a luxury lifestyle publication in the Gulf founded in 2010 that showcases the diversity of the region home to several nationalities from around the world.
In this recent FORBES AFRICA interview, Hend, as she would want us to call her, speaks about the future of publishing, investing in intelligent content, and learning to be a part of the disruption around you.
As an entrepreneur too and the designer behind House of Hend, a luxury ready-to-wear line that showcases exquisite abayas, evening gowns and contemporary wear, her designs have been showcased in fashion shows across the world.
The Middle East is known for retail, but not typically, as a fashion hub in the same league as Paris, New York or Milan. Yet, she has changed the narrative of fashion in the region. “I have approached the world of fashion with what the customer wants,” says Hend. In this interview, she also extols African fashion talent and dwells on her own sartorial plans for the African continent.
In September, in Downtown Dubai, she is scheduled to open The Flower Café. Also an artist using creative expression meaningfully, she says it’s important to be “a role model of realism”.
She is also the author of The Black Book of Arabia, described as a collection of true stories from the Arab community offering a real glimpse into the lives of men and women across the Gulf Cooperation Council region.
In this interview, she also expounds on her home, Sharjah, one of the seven emirates in the UAE and the region’s educational hub. “A number of successful entrepreneurs have started in this culturally-rich emirate that’s home to 30 museums,” she concludes.
Kim Kardashian West Is Worth $900 Million After Agreeing To Sell A Stake In Her Cosmetics Firm To Coty
In what will be the second major Kardashian cashout in a year, Kim Kardashian West is selling a 20% stake in her cosmetics company KKW Beauty to beauty giant Coty COTY for $200 million. The deal—announced today—values KKW Beauty at $1 billion, making Kardashian West worth about $900 million, according to Forbes’estimates.
The acquisition, which is set to close in early 2021, will leave Kardashian West the majority owner of KKW Beauty, with an estimated 72% stake in the company, which is known for its color cosmetics like contouring creams and highlighters. Forbes estimates that her mother, Kris Jenner, owns 8% of the business. (Neither Kardashian West nor Kris Jenner have responded to a request for comment about their stakes.) According to Coty, she’ll remain responsible for creative efforts while Coty will focus on expanding product development outside the realm of color cosmetics.
Earlier this year, Kardashian West’s half-sister, Kylie Jenner, also inked a big deal with Coty, when she sold it 51% of her Kylie Cosmetics at a valuation of $1.2 billion. The deal left Jenner with a net worth of just under $900 million. Both Kylie Cosmetics and KKW Beauty are among a number of brands, including Anastasia Beverly Hills, Huda Beauty and Glossier, that have received sky-high valuations thanks to their social-media-friendly marketing.
“Kim is a true modern-day global icon,” said Coty chairman and CEO Peter Harf in a statement. “This influence, combined with Coty’s leadership and deep expertise in prestige beauty will allow us to achieve the full potential of her brands.”
The deal comes just days after Seed Beauty, which develops, manufactures and ships both KKW Beauty and Kylie Cosmetics, won a temporary injunction against KKW Beauty, hoping to prevent it from sharing trade secrets with Coty, which also owns brands like CoverGirl, Sally Hansen and Rimmel. On June 19, Seed filed a lawsuit against KKW Beauty seeking protection of its trade secrets ahead of an expected deal between Coty and KKW Beauty. The temporary order, granted on June 26, lasts until August 21 and forbids KKW Beauty from disclosing details related to the Seed-KKW relationship, including “the terms of those agreements, information about license use, marketing obligations, product launch and distribution, revenue sharing, intellectual property ownership, specifications, ingredients, formulas, plans and other information about Seed products.”
Coty has struggled in recent years, with Wall Street insisting it routinely overpays for acquisitions and has failed to keep up with contemporary beauty trends. The coronavirus pandemic has also hit the 116-year-old company hard. Since the beginning of the year, Coty’s stock price has fallen nearly 60%. The company, which had $8.6 billion in revenues in the year through June 2019, now sports a $3.3 billion market capitalization. By striking deals with companies like KKW Beauty and Kylie Cosmetics, Coty is hoping to refresh its image and appeal to younger consumers.
Kardashian West founded KKW Beauty in 2017, after successfully collaborating with Kylie Cosmetics on a set of lip kits. Like her half-sister, Kardashian West first launched online only, but later moved into Ulta stores in October 2019, helping her generate estimated revenues of $100 million last year. KKW Beauty is one of several business ventures for Kardashian West: She continues to appear on her family’s reality show, Keeping Up with the Kardashians, sells her own line of shapewear called Skims and promotes her mobile game, Kim Kardashian Hollywood. Her husband, Kanye West, recently announced a deal to sell a line of his Yeezy apparel in Gap stores.
“This is fun for me. Now I’m coming up with Kimojis and the app and all these other ideas,” Kardashian West told Forbesof her various business ventures in 2016. “I don’t see myself stopping.”
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