African Perspective: Recent Episodes
Africa Business Radio
Wikipedia describes him as a Nigerian blogger, author, public speaker, socio-economic, political commentator, and social media expert, Japheth Joshua Omojuwa is all these and much more. On this intimate chat, Soji Akinlabi, and Japheth Joshua Omojua discuss everything from the J.J. Omojuwa that most Nigerians do not know, Capitalism, War in Afghanistan/Iraq, Helping People, and President Joe Biden in the Whitehouse. Sit back and enjoy the conversation.
Timilehin Olaiwola is currently an Mba candidate at the Lagos Business School ( LBS), haven worked as an investment banker for 3 years at former Gt Assets Management now Investment One.She is passionate about Sme advisory.Highly analytical and inclined towards problem solving , negotiation and data analytics.
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Oladipo Idowu-Agida and recently added 'Pius' to his name, he's the CEO and Founder of DRADROCK Properties; a yound, ambitious and very creative real estate development company operating from Lagos, Nigeria. He describe himself as a rare blend of focus, drive and creativity; with remarkable passion for People/Organizational Development, Business, Sales and marketing. An outstanding Salesperson he calls himself, well organized, hardworking, thoroughly prepared, positive, enthusiastic, and intensely focused on serving my customers better than anyone else can
Prior to DRADROCK in April, 2017, he was the Sales Manager at Grenadines Homes Limited, Lagos (a member of the Paltonmorgarn Holdings), where he led a team responsible for the business development and pre-launch sales of the $300million Atlantic Resort project.
Before his time at Grenadines Homes, he worked for other subsidiary of Paltonmorgarn Holdings, such as Paltonloitte & Associates, Propertymart Real Estate Investment Ltd, and PM Oil Marketing & Sales Solutions respectively.
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Tofunmi Akinseye serves as the Ceo and Publisher of Savvy Magazine Africa, in addition to the overall editorial direction for Savvy, this role is responsible for maintaining the tonal and aesthetic consistency of the Savvy brand across all platforms. The 27 year old entrepreneur has the desire to shape new sets of mentally independent and self-condent leaders by creating a link between young minds, their potential and audience. Her unwavering belief is that every individual has a potential to be manifested if well invested in, fuelled her thirst do more, for the budding generation.
As the editor in Chief, Tofunmi has been able to attract clientele extending across the telecommunication company and banking industry; some of Savvy’s partners includes MTNNG, Zenith Bank, UBA Bank, Gtbank, Durex NG, Afrione and other small businesses. She successful leads a team of 5 whom together push and bring the vision into fruition; in strategizing about what Savvy needs.
On this feature, Tofunmi shares her perspective of the current state of Africa as well as the future she sees.
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On the last show of 2018, we have an incredibly powerful conversation with speaker extraordinaire and young entrepreneur, Sibusiso Molimi of AYEYE consulting. We have an honest conversation about the role of motivational speakers in improving society & transforming the way people perceive themselves. Mr. Molimi also challenges us to ask ourselves “What are you willing to sacrifice to get to the next level” in a spirit to take accountability of your future and success. You would be doing yourself a disservice if you don’t tune into this show.
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The Mandela Institute of Development Studies Programme Director, Ian Mashingaidze and the Graca Machel trust Nutrition Programme Manager Rachel Toku-Appiah set the stage for the Regional High Policy Dialogue on Transforming Agriculture held in Maputo Mozambique from the 19th to the 23rd of November. They give us insight into why Agriculture & Nutrition is an integral conversation every African should take part in and why this dialogue is necessary to the development of a sector that provides so much opportunity for economic empowerment for Africa’s large youth population. Join the conversation on social media using the hashtag #TransformingAgriculture and listen to the live broadcast on Africa Business Radio.
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INNOVATIONS BROUGHT A STEP CLOSER TO FRUITION AS THE INNOVATION HUB ANNOUNCES GAP INNOVATION COMPETITION 2018 WINNERS
Tshwane, 15 November 2018– A treasure trove of ideas have been added to the Gauteng province’s arsenal to boost the economy and find new solutions as The Innovation Hub – a subsidiary of the Gauteng Growth and Development Agency (GGDA) - annouced the winners of the Gauteng Accelerator Programme (GAP) Innovation Competition 2018.
Winners comprise innovators, researchers and entrepreneurs that are working on novel ideas that will improve the efficiency of government service delivery, increase the competitiveness of the local economy and enhance the quality of life of ordinary citizens.
From enviro-friendly ablution and sanitation solutions, to recyclable sanitary wear; improved access to dental care and what promises to be a sure winner for our consumption driven economy – a technological solution that alerts shoppers to the best sales and deals.
The next generation of entrepreneurs will receive commercialisation support and seed funding, and a year-long incubation at of The Innovation Hub’s Business Incubators.
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The Fundi Education Forum #FEF2018 gathered the greatest minds in Politics and Business to discuss the state of Education on the African continent. Nqobani Mzizi, host of "Business Today in Africa" had a chat with His Excellency My Raila Odinga, and they spoke about the deployment of technology for education, access to the internet in Africa for accelerated learning and his personal contribution towards Education in Kenya, amongst other important topics.
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ITU Telecom World 2018 took place in Durban, the third largest city in South Africa, a growing urban setting rich in diversity, cultural amenities, economic growth, history, and natural beauty.
As the official host of the conference, the minister in the Department of Telecommunications and Post of the Republic of South Africa chats to Adetunji Omotola about the key takeaways, he emphasized on the need for partnership on every point, from infrastructure to delivery
South Africa’s flagship initiatives to support ICT and SME development throughout both country and continent position it as the ideal host nation for ITU Telecom World 2018.
The South African government’s national Digital Society SA strategy aims to position the country as a significant player in the development of ICTs throughout the value chain, accelerate uptake in all socio-economic sectors, increase inclusion, and transform the country into a fully digital society.
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In the wake of the VBS Bank scandal which was revealed in "The Great Bank Heist" report by Advocate Terry Mudau and Werksman Attorneys, the seems to be blurred lines that existed on the functions of each of the role players, who separately had different functions and were charged with governance and responsibility. We attempt to unpack these roles with the Ms. Kantha Naiker, and Accountant and Executive in her own right.
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The Brics Future Skills Challenge gave an opportunity for women to showcase their skills in welding. For women looking for a new career or considering switching fields, welding is an especially promising industry. When it comes to “non-traditional” occupations for women, welding can be one of the most vital, in-demand, and rewarding of the skilled trades.
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The entrepreneurs main objective is to get their business off the ground and run operations. Do they focus on the important issue of insurance on their lives as entrepreneurs, where if things would go bad on their lives, what cover is there? We get into that conversation to educate entrepreneurs and partners.
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The BRICS Skills Challenge will be focused on smart factories with Industry 4.0 as a key theme through both the EXPO and the challenge. The expo will have a more detailed focus showcasing the " 4th Industrial revolution and future skills". It will, however, be a very focused event with specific stands allocated to each of the BRICS countries. There will also be meeting areas to encourage Business to Business conversations. Three main areas will be looked at during the challenge: first will be digital which will include Cyber Security, Internet of Things, Data Analytics and High-Performance Computing.
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Lebo Lestoalo chairperson of MERSETA shares the purpose of having the Brics Futures Skills Challenge in South Africa.
In 2018, Chairmanship of BRICS moves to South Africa, and with South Africa hosting the Government summit and the BRICS Business Council Meetings the South African Skills Development Working Group (SDWG) has agreed to host the second BRICS Skills Challenge at Gallagher estate in Gauteng, During October 2018. During the challenge, participants are given specific tasks and deadlines in which to complete them. Participants are judged by panels of specialists from participating countries. The objectives of the Skills Development Working Group are:
· increase bilateral and multilateral cooperation in skills development for Industry 4.0 and other future skills that will facilitate economic growth,
· collaborate for innovation and development of cost-effective learning tools and
· development of a standard qualification framework and new curricula in emerging technologies, to facilitate skills development and raise skills standards.
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The Constitutional Court of South Africa handed down the Marijuana ruling that has been termed historical on the 18th of September 2018. Gavin Smith and Gavin Stansfield chat about some of the implications to watch out for in the workplace. The judgment deal with the constitutionality of the prohibition and criminalization of the use of cannabis by adult persons in their private dwellings. The Drugs and Drug Trafficking Act 140 of 1992 (Drugs Act) read together with the Medicines and Related Substances Control Act 101 of 1965 (Medicines Act), prohibits and criminalizes the use, possession, purchase, and cultivation of cannabis by any individual in South Africa. The relevant provisions of the legislation are:
1. Drug Act
•Section 4(b) and 5(b)
•Part III of Schedule 2
2. Medicines Act
•Section 22A(9)(a)(i)
•Schedule 7
The Cannabis judgment undoubtedly has implications for South African society.
Since the initial challenges launched by Prince (as far back as 2002 and 1998), there are now 33 countries (including Australia, Canada, Spain, and Switzerland) around the world that have decriminalized and legalized the use of cannabis. Attitudes towards cannabis have changed, and continue to change, in many countries. These were facts that the High Courts used in support of its ruling and this was mentioned by the Constitutional Court in the Cannabis judgment.
For certain religious groups and persons who make use of cannabis for medicinal reasons, the Cannabis judgment will be seen as a victory for various constitutional rights (including, the right to freedom of religion and the right to privacy).
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Dr. Chaesub Lee joins Adetunji Omotola on the sideline of the ITU conference 2018 in the city of Durban South Africa. They discuss the different roles of telecommunication in the global development.
Chaesub Lee is the Director of ITU’s Telecommunication Standardization Bureau, following his election at the 2014 Plenipotentiary Conference in Busan, Republic of Korea. He took office on 1st January 2015.
Dr. Lee has been involved in the telecommunication and ICT standardization field for 30 years, specializing in areas such as integrated services digital networks (ISDN), global information infrastructure (GII), Internet protocol, next-generation networks (NGN), Internet protocol television (IPTV) and cloud computing.
He started his professional life in 1986 as a researcher at Korea Telecom. After 17 years he took up a role at the country's Electronic and Telecommunications Research Institute (ETRI), where he stayed for the next eight years.
Most recently he worked at the Korea Advanced
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Dr. Chaesub Lee joins Adetunji Omotola on the sideline of the ITU conference 2018 in the city of Durban South Africa. They discuss the different roles of telecommunication in the global development.
Chaesub Lee is the Director of ITU’s Telecommunication Standardization Bureau, following his election at the 2014 Plenipotentiary Conference in Busan, Republic of Korea. He took office on 1st January 2015.
Dr. Lee has been involved in the telecommunication and ICT standardization field for 30 years, specializing in areas such as integrated services digital networks (ISDN), global information infrastructure (GII), Internet protocol, next-generation networks (NGN), Internet protocol television (IPTV) and cloud computing.
He started his professional life in 1986 as a researcher at Korea Telecom. After 17 years he took up a role at the country's Electronic and Telecommunications Research Institute (ETRI), where he stayed for the next eight years.
Most recently he worked at the Korea Advanced Institute of Science and Technology (KAIST), and as a senior advisor to the Koreans Ministry, ICT and Future Planning (MSIP).
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Bret Rogers and Gavin discuss ill-fitting executive in an organization and how do you handle a situation like this.
Having been “raised” in companies with healthy talent planning processes, one can easily take for granted the benefits of having a bench of strong internal candidates and few talent crises. We make the case for onboarding or a situation whereby you have a consultant working with the internal team just on a particular project, how do you make sure that you are still able to maintain a healthy organizational culture. Bret highlights what must be avoided and major red lights that could serve as a signal for trouble.
Injecting external talent, nevertheless, is an important aspect in maintaining a healthy and vibrant organization. However, the same processes that help prevent a poor internal selection are not as effective in the case of that occasional external hire. An external hire, unless handled by an experienced professional, is exposed to fewer quality controls to ensure organizational fit.
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Michelle Baron-Williamson, CEO of Managed Integrity Evaluation, joins us to discuss what to do if you think your criminal record is hindering you professionally.
Securing a job in South Africa today is tough for many. Latest figures from Stats SA indicate that unemployment has increased to 27.2% for the second quarter of the year (from 26.7%) – where hiring organizations are more cautious than optimistic about growth in the economy, their markets, and their businesses. Hiring someone with a criminal record is often just not an option.
According to Michelle Baron-Williamson, CEO of Managed Integrity Evaluation (MIE), “In times of instability and evolving change, such as we are experiencing now, businesses particularly tend to become more risk adverse to their gainful investment, including in their people, and take a more inspective and discretionary approach to hire. As a result, we are seeing increasing investment into comprehensive background screening solutions to assist businesses in mitigating against the potential risk of an inappropriate candidate being hired. And if a candidate is found to have a criminal record, his or her job application may not be viewed favorably.”
MIE research shows that uptake of background screening services has grown by 6.77% in the last five years and criminal record screening remains the most frequently requested check by our clients in South Africa. In 2017 alone, the company conducted over seven-hundred-thousand criminal checks, of which 9.91% were found to have a criminal or pending criminal record; from violent crimes to theft and narcotics offenses, crimes against the state, white collar, and other crimes.
“The fact is, having a criminal record – no matter how small or ‘insignificant’ the offense may seem – will haunt a candidate professionally. Just like being ‘blacklisted’ or being recorded as a bad creditor can severely lessen a consumer’s chances of securing credit; having a criminal record could significantly impact
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Quentyn Taylor chats to us about how to reduce the current digital skills' gap in Africa.
Plugging the gap – how businesses can resolve Europe’s digital skills shortage
Digital transformation is revolutionizing the European workplace, with its ability to streamline processes, reduce expenditure and enhance the service offering. Rapidly advancing digital technologies are already being used in hundreds of sectors, including farming, healthcare, transport, education, retail, home automation and logistics. The demand for information and communications technology specialists is growing fast – so much so that according to the European Commission, 9 out of 10 jobs in the future will require digital skills.
At the same time though, 169 million Europeans between 16 and 74 years – 44% – do not have basic digital skills. This means that the benefits that digitization can drive are quite literally under threat as Europe is failing to produce enough IT graduates. What’s worse is that as the pace of technological development snowballs, this gulf is widening. The prospect of 500,000 unfilled jobs in the European IT sector by 2020 is very real and looming.
Businesses cannot expect governments to tackle this crisis on their own. Firstly, disruptive and revolutionary innovations will always affect private companies before they affect the state – because businesses tend to try out new technologies before governments do. As a result, nobody understands the implications of and reasons for the digital skills gap better than the businesses that are directly suffering the consequences.
Secondly, with a capable and trained workforce, businesses stand to benefit enormously from digitization. Any organization, large or small, can contribute to tackling the growing digital skills gap, either by addressing it within their own function or by providing skills training more widely.
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The South Africa Portugues Chamber of commerce celebrated its 5th year anniversary and also held its annual Business Excellence Awards (with Standard Bank as the headline sponsor). Africa Business Radio is delighted to continue our partnership with SAPCC in covering this special event.
The SAPCC Standard Bank Business Excellence Awards are held annually to celebrate the Luso-South African business community’s contribution to the economic vitality and social fabric of South Africa. The Awards recognize excellence in business, personal achievements, innovative practices and outstanding contributions to the community. The format of the Awards has changed this year. The Chamber has increased the award categories from 3 to 8. The categories are 1. Professional of the Year, 2. Small Business of the Year, 3. Large Business of the Year, 4. Franchisor of the Year, 5. Business Person of the Year, 6. Business Innovation Award,7. Entrepreneur of the Year and 8. Mandela Tribute Award.
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Rui is a lawyer and Tony is a psychologist, together they call themselves 'The Law of Psychology'. Rui and Tony chat to us about some of the work that SAPCC has been doing over the past 5 years.
The South Africa Portugues Chamber of commerce celebrated its 5th year anniversary and also held its annual Business Excellence Awards (with Standard Bank as the headline sponsor). Africa Business Radio is delighted to continue our partnership with SAPCC in covering this special event.
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The South Africa Portugues Chamber of commerce celebrated its 5th year anniversary and also held its annual Business Excellence Awards (with Standard Bank as the headline sponsor). Africa Business Radio is delighted to continue our partnership with SAPCC in covering this special event. Thokozani and Rui of GrowthMap, both members of the chamber join us to share their experiences of the chamber.
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Pan African Climate Justice Alliance (PACJA) is a continental coalition of Civil Society Organizations whose goal is to mobilize and empower African civil society to ensure the realization of environmental and climate justice for all people in Africa.
We are the largest alliance of Civil Society Organizations (CSO) with over 1000 members in over 45 countries in Africa, embodying one African voice on climate and environmental justice.
The formation of ACCER (Africa Climate Change Environmental Reporting) is to allow Africans to report on environmental issues and the theme this year is “changing the African narrative on climate change”. This call is to all journalist who is passionate about the report on the such as a table. The application link is accerawards@pacja.org
PACJA has a vision of a global environment free from the threat of climate change with sustainable development, equity and justice for all; also to develop and promote pro-poor development and equity-based positions relevant for Africa in the International climate change dialogue and related processes.
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Rudi Kruger, General Manager of LexisNexis Data Services joins us to discuss the importance of reference verifications on job applications. On the show, we tackle the following:
•Why is it important for employers and recruitment agencies to do reference checks
•Is there a way employers can verify that what the employee is saying is true?
•It has become a trend to have employees asking friends to act as references on their resume or leave out the reference of employers who could possibly damage their chances- can employers find those employers?
•What are some of the disadvantages and advantages of reference checks?
•realistically speaking how many candidates get reference checks?
•are there specific reference check question employers should be asking?
•How can employers conduct effective reference checks?
•Falsifying credentials are on the rise - can reference checks curb this?
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Saurabh Kumar, CEO at In2IT Technologies joins Gavin Smith to talk about Technology in the workplace and how it can influence and affect productivity and profitability. Here are some of the questions that were examined:
•How can employers use technology to improve productivity and profitability?
•Why is technology important in a business?
•How can ICT help in business?
•How can technology help with employee engagement?
•What is the true impact of technology on workplace productivity?
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Anthropology speaks about the study of historical facts, an attempt to understanding the many different aspects of the human experience through the eyes of history and another element; archeology is considered by some as a branch of anthropology. There are other different branches of anthropology such as cultural anthropology, biological anthropology, and linguistic anthropology. Economic anthropology came about as a result of the juxtaposition of two disciplines in the 20th century. Historically, entrepreneurship is in our DNA as African and to further unpack this, Dr. Lulu joins us in the studio.
Dr. Lulu Gwagwa is a multifaceted woman: an accomplished development planner; business leader; and philanthropist. She is a keen writer and photographer who is currently studying philosophy.
Four times a year, she hosts a ‘Girls Lunch’ where she engages young African women on issues facing women in modern society. She motivates them to dream big. “Read widely. Travelling broadens your mind, and it is not as expensive as we think. Build and sustain your networks. Get involved in your community, and in empowering others. But most importantly, invest in knowing yourself,” she says.
Dr. Lulu’s passion for spatial equity has driven her philanthropic work. Two decades ago she founded the Mhakazi Trust to empower the young people of Umzimkulu, some of whom have even graduated from tertiary institutions.
Dr. Lulu is currently the Chief Executive Officer of Lereko Investments, a black-owned investment company, and one of the principals in the Lereko Metier Capital Growth Fund. Dr. Lulu also serves as non-executive director of FirstRand, Massmart and Sun International. She is also the Chairperson of Aurecon Africa and a fellow of the African Leadership Initiative (ALI).
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We shine the spotlight on the most important aspect of business and that is the talent because a well-run hr department improves productivity and aids in maintaining the organizations brand image. It also plays a huge role in developing the organizations' strategy as well as how the employee-centered activities are handled.
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With great power comes great responsibility and professional accountability.
Africa is aligning itself with the rest of the international community’s legal inclination and becoming an ever more litigious country. With attorneys doing work on a contingency, or a “no win, no fee” basis, it is becoming easier and easier to sue and hold a wrongdoer liable.
According to Legal Risk Advisor, Samantha Baleson of Aon South Africa, the working professional faces many challenges and obstacles when executing their job or mandate. “Primary to that is the duty and responsibility that they hold towards their clients, regardless of whether or not they have a contract with those clients and regardless of a fee being charged.”
It is imperative for all professionals across the board, including the financial advisory sector, to consider their risk exposure and embark on a proactive and sound risk management strategy with a professional insurance broker by their side, to advise of any exclusions and build a well-rounded insurance solution for themselves and for their business
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Gavin chats to the National spokesperson of LIMUSA Mr. Dlozi Matooane. At the 2018 Mining Indaba kicks in Cape Town issues of health and safety in the mining industry were prioritized. With increasing reports of mining incidents, one wonders what needs to be done to avoid or prevent all the safety issues crippling the mining industry. Mr. Dlozi narrates the current situation of Health, Safety and Environmental Quality in the South African Mining industry, highlighting what is lacking and what should be done. He also accuses some mining companies such as Sibanye Gold etc of neglecting and downplaying the issue of workers' safety in the mine sites. We also spoke about the National Health Insurance Insurance Framework that's currently in the implementation stage.
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Ethiopia is treating Saturday explosion that killed 2 people and wounded many others as an assassination attempt on PM #AbiyAhmed 30 Gov. officials reported to have been arrested already. The Prime Minister of Algeria disclosed that the country's foreign reserves fell by $7.3 billion already in 2018 and a further decline of $5 billion by the end of 2018. According to the oil ministers from the two countries, South Sudan and Sudan to begin production and exportation of crude oil.
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When examining how technology is impacting HR, it’s useful to break down the HR lifecycle into its key components. This can be done in many ways but we like to break it down into three simple stages:
•GET THE JOB- Recruitment, and onboarding
•DO THE JOB- Training, culture, and productivity
•GET REWARDED- recognition and performance management
New tech solutions are starting to permeate all three stages of the HR lifecycle. Below are the top 5 emerging trends that we have identified:
•TREND #1: Increasing use of AI-powered candidate matching tools
•TREND #2: Tech-enabled employee referrals as a recruitment channel
•TREND #3: Replacing tedious generic corporate training with personalized online learning
•TREND #4: The rise of free/ low-cost HR management tools that aggregate health insurance
•TREND #5: Crowdsourcing employee feedback to inform culture, recognition and performance management
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Nurses make up the largest number of healthcare professionals in Africa and this will also put a spotlight on the industry and bring in a different narrative during this timely trend this month.
We had a chat with Nadine Nunan | Scientific Affairs & Education Manager at 3M about the Internation Nurses day 2018, we discussed some of the following:
- Importance of having access, investment and growth as being key elements in health as a human right
- Investment and Economic growth
- Investment in human development is key to the sustainable development of Africa's Nursing sector
- Challenges facing the sector
We also Unpack role of nurses as being key to people-centered approach health care; Core elements of an effective health system based on the right to health.
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Grant Wilkinson, Executive, Global Business Solutions joins us to unpack the dynamics of employees' questionable social media remarks and how businesses can manage it.
Social media is an extremely powerful tool. No longer is being published on a platform - that the entire world can see - the sole domain of print media and limited to a selected few. Anyone can become a published author thanks to the Internet and social media.
This is an incredibly powerful tool; however, some may abuse this power and, in the process, bring their employers into disrepute. The case of Hanniker v One and Only Cape Town (Pty) Ltd – 26 CCMA 8.37.9 illustrates this point:
•An employee published a comment on Facebook which allegedly brought his employer (a hotel) and the hotel’s security manager into disrepute.
•She – the employee – claimed that her comments were valid and were posted in reaction to an incident that the security manager was negligent.
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Johan Botes joins us to discuss the different dynamics to managing human resources during mergers and acquisition taking note that what's most important is the capacity needs for the new operation. It is important also for employees to be protected while also taking note that the business survival is of great priority.
Johan Botes heads Baker McKenzie’s Employment Practice Group in Johannesburg. Johan is experienced in employment law and labor relations, focusing on South African and sub-Saharan African employment law and employee relations. He regularly advises multinational clients on industrial relations, employment negotiations, labor dispute resolution, changes management, and organizational restructuring.
Johan's practice spans a range of industries including financial services, consulting, fast-moving consumer goods, aviation, pension funds, media, retail, manufacturing, and mining. He also focuses on corporate restructuring, employment litigation, advising and assisting with collective bargaining and trade union recognition, managing relations with trade unions, acting as a negotiator for management teams, managing industrial action, employment disputes, transfers of undertakings and employment law implications of such transfers, and optimizing contracting models.
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At least 80 new delegates from different countries were sworn in as Members of the Pan African Parliament following elections in a number of African States and rotation within delegations. Out of this 80, about four or more were fro South Africa including Julius Malema, Thoko Didiza, Mandla Mandela etc.
Mudzithe had a chat with Hon. Thoko Didiza and Mandla Mandel and thier views of the parliament just few hours after being sworned in and also disuss some of their concerns with regards to the agenda and roles of the parliament in the development of Africa as a continent.
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The Sixth Ordinary Session of the fourth Parliament of the Pan African Parliament (PAP) will take place from 7 to 18 May 2018 at the PAP precincts in Midrand, South Africa. Deliberations of this Session will be guided by the overall theme: “Winning the Fight against Corruption: A Sustainable Path to Africa’s Transformation.’’
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Sam is the founder and Managing Director of Lisacars formerly known as Lisabank. He's been an entrepreneur in the automotive and retail industry for more than 30 years. Sam had a sitdown with Mudzithe, give his best advice as the lesson from his 30 years entrepreneurship journey.
Lisacars was Established in 2010 with the realization that many people would love to own a car. We began with 2 staff members and one branch. Today in 2017 we have five branches in Gauteng, a diverse and strong team of 150 and a management team that has over 150 years’ experience in the motor industry.
LisaCars gives car buyers the benefit of test driving and examining vehicles. Most repossessed automobiles are available through the auction process. By visiting LisaCars Repossession Warehouse, you are assured of a professional, quality purchase. We pride ourselves, in offering wholesale cars at rock bottom prices. We offer over 300 quality affordable cars, you as a client are able to purchase by paying cash or obtaining finance through all major financial institutions.
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The Embassy of the United Arab Emirates, Pretoria in conjunction with South African government agencies, is planning to convene a trade and investment workshop on 24 April 2018.
Objectives:
To introduce South African stakeholders to the UAE’s 2018 trade and investment strategy.
To examine current investment trends and climates in both countries.
To discuss trade and investment opportunities within various sectors.
To identify trade and investment gaps/niches in the market.
Long term:
To promote trade and investment between South Africa and the UAE.
To foster outbound trade and investment to the UAE.
To enhance existing economic relations and increase trade and investment volumes between South Africa and the UAE.
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Allon Raiz is regarded both locally and globally as a pioneer and maverick in the business-incubation
industry. He is the founder and CEO of Raizcorp which, according to The Economist, is the only genuine
incubator in Africa and which currently supports over 500 businesses.
Allon is the author of two best-selling entrepreneurial books – Lose the Business Plan and What to Do
When You Want to Give Up. He hosted the first national radio show on entrepreneurship in South Africa
in 2004; wrote and hosted the first South African prime-time entrepreneurship reality television show;
and created and published an ongoing entrepreneurial cartoon strip. Allon is currently hosting his sixth
season of the popular The Big Small Business Show on Business Day TV and is a regular columnist for
Entrepreneur Magazine.
Allon is a co-founder of the Entrepreneurs’ Organisation South Africa and Rural Roots and is on the
advisory and judging boards of numerous local and international NGOs and entrepreneurial awards.
His passion for and focus on the development of entrepreneurs attracted the attention of the World
Economic Forum (WEF) which, in 2008, recognized Allon as a Young Global Leader.
As an accomplished international speaker, Allon was invited to speak at the 2011 WEF Annual Meeting
held in Davos, Switzerland. In 2011, he was also invited to become a member of the WEF’s Global
Agenda Council on Fostering Entrepreneurship, making him one of 15 recognized global experts in
the field. More recently, he became a member of the WEF’s Global Future Council.
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Organized by The South African Portuguese Chamber of Commerce, three international legends in the fields of Mind Power, Change, Growth, and Entrepreneurship came together in one venue to share their best advice ever in business and life generally.
Allon Raiz is regarded both locally and globally as a pioneer and maverick in the business incubation industry. He is the founder and CEO of Raizcorp which, according to The Economist, is the only genuine incubator in Africa and which currently supports over 500 businesses.
Robin Banks is one of the world’s leading authorities on the subject of Mind Power and Personal Mastery. He is a highly sought-after international speaker and has spoken to CEOs
and Senior Management from global Fortune 500 companies.
Michael Jackson has over 30 years of strategic business, marketing, and communications experience. Born in Britain, then London educated and trained in business strategy development and communication, he has worked personally for business leaders such as Richard Branson and Bill Gates, as well many other
leading global businesses such as Qatar Airways, HP, Goodyear, and Barclays.
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You cannot be the best “you” if you are do not know who you are and what you have. This book contains tips that you need on the journey of self-discovery. Having discovered yourself you need to tune in to your God-given purpose as it gives meaning to life. There are chapters dedicated to motivation and encouragement which is the fuel you need on your success journey.
It provides nuggets on how to be organized and effective. Not only does this book help you to plan but it also gives you an urge to implement what you plan. May you be inspired to go to another level of performance in order to achieve superior results. Excellence in execution is a differentiator between those who live successful lives and those who fail to maximize their existence. Having this book in your hands is critically important having read it, implement what you have read and seen your life change.
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15 – 17 May 2018 hosted in Lagos, Nigeria Radisson Hotel
The time has come for African leaders and coaches to come together and accept that coaching belongs on the continent as one of the levers that can enhance leadership capability in all forms of organization existence.
For the African continent to prosper, it should have prosperous regions. For African regions to prosper, they have to have successful member countries, and these countries should not only have great leaders, they should have great coaches.
Leadership greatness begins with leadership coaching, in one form or another. In the African tradition, the healing profession and traditional authority are one such good examples of how coaching has made it possible to pass on, from one generation to another, the art and practice of same.
Coaching is one of the cornerstones of indigenous knowledge systems. Modern schools of thought on coaching, borrow a lot from how our ancestors have always passed on the practice of any of their crafts through coaching and mentoring.
If you are a coaching executive in a corporation, public or private, or in government and even in the non-governmental sector, you ought to be here. If you are a highly respected professional in any discipline, or just a C-Suite or other executives, you may want to join us, and you will come out richer as we shape the malleable role of coaching in leadership development for Africa’s growth.
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Africa Innovation Summit (AIS) under the patronage of President Paul Kagame of Rwanda and President Pedro Pires of Cabo Verde, taking place from 6th to 8th June 2018 in Kigali, Rwanda. The Summit will include an Exhibition by up to 50 African firms (start-ups and SMEs) to showcase innovations taking place on the continent.
The AIS has partnered with Enterprise room, a transformation consultancy specializing in starting, sustaining, and accelerating businesses, to drive the sourcing and selection of up to 50 Innovations across the continent, to be showcased at the Summit. The CEO of Enterprise room, Tracey Webster, said “We are delighted to partner with the AIS and believe the innovations selected to be showcased at the Summit will have a unique opportunity to engage the right stakeholders when it comes to discussing and unlocking blockages in the eco-system that are preventing solutions from going to scale, or ideas being commercialized.” AIS firmly believes that the solutions are in Africa and innovators need to be at the table architecting a conducive environment for Innovation to thrive in Africa.
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As African Union members state gathers in the city of Kigali, Rwanda to sign a pact(AfCFTA) that will form the largest single market in the world.
As far back as January 2012, Heads of state and the principals of the African Union adopted a decision to establish a Continental Free Trade Area by an indicative date of 2017. The Summit also endorsed the Action Plan on Boosting Intra-Africa Trade (BIAT) which identifies seven priority action clusters: trade policy, trade facilitation, productive capacity, trade-related infrastructure, trade finance, trade information, and factor market integration.
With about 35 countries signing this agreement form the beginning excluding the most populous country in Sub-Saharan Africa; this will create the largest single market globally, what does this mean for African businesses and the concept of 'Doing Business in Africa'
African Continental Free Trade Area - What Does This Mean For 'Doing Business in Africa'?
African Continental Free Trade Area - What Does This Mean For Doing Business in Africa?
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Oil prices fall this Monday morning as the US added Four new drilling points leading to higher output which is said to drive oversupply of the commodity in the coming days.
U.S. West Texas Intermediate (WTI) crude futures were at $62.14 a barrel at 0739 GMT, down 20 cents, or 0.3 percent, from their previous close.
Brent crude futures were at $65.99 per barrel, down 22 cents, or 0.3 percent.
Egypt which has become the prime territory for risk-hungry debt traders for the past 15 months, could be upstaged by other emerging markets as it begins to cut rates to spur the economy.
Exxon Mobil Corporation is working in partnership Pakistan’s large businesses on a proposal to build and supply the country’s third import terminal for liquefied natural gas, according to the nation’s minister for maritime affairs.
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The African Development Bank (AfDB) has said it is in talks with its Governors to unravel strategies that are effective and efficient in closing Africa’s $170 billion infrastructure investment gap.
Nigeria’s External Reserves are steadily heading towards the $50 billion mark.
About N658.56 billion was received by the Federal Government of Nigeria from oil and non-oil sectors, according to the Central Bank of Nigeria (CBN) Economic report.
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About Three decades the concept of single aviation market was first proposed by the then 54-member African countries.
Earlier this year 2018, during the first AU General Assembly in 2018, 23 African states, including South Africa, Nigeria, and Kenya, have launched a single aviation market in a bid to boost connectivity, reduce fares and stimulate economic growth on a continent widely considered the most expensive and inconvenient to fly around.
The first phase of the Single African Air Transport Market which officials hope it will eventually replicate the European or Asian Common Aviation Area, which allows airlines from member states to fly between any member state. Airline executives, as well as industry analysts, welcomed this move as a “seismic event” but cautioned that much more work was needed to create genuinely open skies in Africa.
David hosted Mr. Miya, a Senior Manager: Government Strategy, Corporate Compliance, Consular Services and Document Procurement at Fragomen’s Johannesburg office, to discuss the implication of the recent announcement of 23 African countries signing Africa's Single Aviation Market.
This is one of the major moves towards achieving the ambitious Agenda 2064 which is tagged ‘The Africa We want; A Shared Strategic Framework for Inclusive Growth and Sustainable Development.
In its implementation, Agenda 2063 is leveraging on past and current initiatives which include: the Lagos Plan of Action, The Abuja Treaty, The Minimum Integration Programme, the Programme for Infrastructural Development in Africa (PIDA), the Comprehensive Africa Agricultural Development Programme (CAADP), The New Partnership for Africa’s Development (NEPAD), Regional Plans and Programmes and National Plans. It is also built on national, regional, continental best practices in its formulation.
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The role of mentorship (it takes a village to raise an entrepreneur)
Entrepreneurship (and entrepreneurship education) has long been lauded as a solution to economic marginalization – a way to get disenfranchised young people in particular into the economy.
African continent is rich in diversity – in language, culture, and perspectives – which has fostered innovation and creativity across a broad spectrum of categories – TechCrunch
This modern-day scramble for Africa also has nothing to do with the colonization of African territory by European powers between 1881 and 1914 but is rather about the hunt for the Next Big Thing. From Cairo to Kigali, Cape Town to Lagos, Nairobi to Accra and Kampala to Dakar, tech hubs are rising faster than the cities that contain them. – Forbes Africa
According to CEO Sundar Pichai, Google is committed to supporting African entrepreneurs; Google announced the Google Developers Launchpad Africa, a new hands-on comprehensive mentorship program tailored exclusively to startups based in Africa, which will provide African startups with over $3-million in equity-free support.
Several incubators are currently springing up across Africa hosting accelerator as well as incubation programs, these two terms often overlap.
When it comes to funding, we are now talking about Angel Investing, Seed Capital, as well as Private Equity Firms, Focusing mainly on SMEs segment.
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In the spirit of celebration, we join Africa Leadership Academy as they celebrate 10 years of developing and educating the new breed of young leaders in Africa.
We are speaking to Amjab Bashir who is a member of the European Parliament and Tijani Babatunde Folawiyo is a Nigerian businessman. He is the managing director of Yinka Folawiyo Group; our conversation is about the current trends in Leadership across Africa from the perspective of a businessman and a politician.
The Decennial Indaba brought together ALA alumni, staffulty, and alumni staffulty to the African Leadership Academy (ALA) campus to celebrate the community that has been built over the last 10 years and chart the course for ALA's future. ALA’s Indabas are gatherings for ALA community; they provide the perfect opportunity for members of the network to reconnect with old friends, meet other members of our community who share their passions, and renew our focus on the African continent. As 2018 marks ALA's decennial year, we are hosting the biggest Indaba in ALA's history. The Decennial Indaba will be held on ALA's campus and will feature special guests and speakers.
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The Democratic Republic of Congo joins Chad in negotiation for debt relief with trading partners; with the appointment of investment bank Lazard as an advisor. IMF has stopped Kenya from accessing a $1.5 billion standby credit facility last June after failing to agree with the government on a reduction of the fiscal deficit. Qatar injected roughly $43 billion into banks in 2017 after a Saudi Arabia-led boycott resulted in a drop in deposits.
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The Nigerian National Assembly has requested the National Executive to submit an N800bn($2.208bn), the supplementary budget which it said to owe marketers in an attempt to end the lingering fuel scarcity across the country.
World Bank to support Nigeria’s power recovery with $2.6bn. Nigeria external reserves to hit 54 months high of $45bn.
Nigerian Stock Market Records 0.08% Gain as Market Breadth Closes Negative; Down by -1.13% Week on Week.
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Salum Awadh is a renowned strategy and financial consultant based in Tanzania, covering the East African region, with about seven (7) years of experience in providing advisory services in the areas of business development, management, finance, investment, transactional advises, private equity and venture capital services, deal structuring, project management, risk management, socio-economic development, research and training.
He is the Founder and CEO of SSC Capital, a Finance and Investment advisory firm offering solutions in funds management, private equity transactions, Crowdfunding corporate advisory, corporate restructuring, and M&A.
The firm has recently launched an intermediary fund called EA Export Fund
He has served a diversity of clients from the government institutions, corporate, international investors, SMEs and not-for-profit institutions in a variety of sectors in Tanzania. Salum also works as a transaction advisor helping Tanzanian companies to raise both equity and debt from regional and global private equity and venture capital firms, advice on divestments, deal structuring, and M&A.
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The petroleum retail industry has evolved over the past three decades – in terms of structure, layout, ownership, and technologies. Processes are more streamlined through integrated process and systems, from mechanical DU, tank gauges, to electronic, automated Desktop Underwriter (DU) /Automatic Tank Gauging (ATG) and Fluid Catalytic Cracking (FCC), and integrated Point of Sale (POS), Back Office System (BOS) and Hours of Service (HOS).
But the traditional forecourt model where the processes are manual is, once again, ripe for disruption. Take for example the process of filling up your tank and purchasing goods at the convenience stores. With technologies such as the Internet of Things (IoT), Artificial Intelligence (AI) and analytics, the possibilities are endless.
If we have a look at macro-trends in the Retail Energy sector – including environmental concerns, new forms of biofuels, price pressures, and the advent of driverless cars – they are changing the game for fuel retailers. Our classic petrol forecourt scene may not be around for much longer, as forward-thinking energy players use advanced technologies to redefine the forecourt experience.
Petrol stations are under pressure from a number of retailers as they look to adapt to changing demographics (digital natives, millennials), and new technologies like e-commerce, robotics, mobility, and the Internet of Things (IoT). All these trends are upending site operations and customer service.
Here are a few ways to deliver new offerings and value propositions, enabling forecourts to evolve in the future – enhancing customer engagement, marketing efficiency, business capability:
- A shift to format fewer forecourts
- Smart Payments
- Loyalty on steroids
- On-demand, drone delivery
- Electric charging
- Integration into connected cars
- Beyond energy for autonomous cars
- New business models to complement or supersede
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Pete da Silva – CEO of the Jasco Group- joins us to discuss why the time is right for companies to take proactive action and consider alternate energy solutions in order to lessen the company’s impact on the environment and importantly, save some money.
Jasco has recently very successfully implemented a solution which has reduced their carbon footprint by 50% - So Pete offers useful advice in this discussion.
The approval of the Carbon Tax Bill has been in the making for a while, with the most recent development being South Africa’s cabinet approval of the release to parliament. It may be finalized and gazetted sooner than we think. It is not only the ever-increasing cost of electricity that is driving companies in South Africa to rethink their energy consumption and strategies, but the imminence tax imposed on an organization’s carbon footprint is driving a greener thought process too. South African companies are going to have to adopt a new approach to energy conservation with the ultimate impact on climate change by reducing the emission of greenhouse gasses.
Photovoltaic (solar) energy as an alternative energy source is now gaining traction in the South African market and as the cost of hardware decreases, the solution becomes financially more viable. Further driving this is the impact of Eskom’s proposed 19.9% increase. It becomes even more apparent that a long-term alternative energy solution is the solution to preventing a hefty carbon footprint tax whilst reducing the ever-increasing cost of energy.
One very effective (consumption and cost wise) solution is to look towards photovoltaic projects that leverage an area of a company’s real estate that is costly and doesn’t generate any benefit in terms of revenue – a company’s car park.
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- Augmented/Virtual Reality, Artificial Intelligence, IoT, and Chatbots take center stage
- They’ll combine to radically change the ways in which we interact with the world
- Business leaders must prepare for a very different reality in 3-4 years
2018 will see the continued advancement of some key technology realms: most notably in the areas of Virtual and Augmented Reality, Artificial Intelligence (AI), the Internet of Things (IoT), and voice-enabled chat and Chatbot interactions.
Each of these technology themes is at different levels of maturity on Gartner’s hallowed Hypercycle, with some poised to fall into the trough of disillusionment this year, while others already start their steady ascent upwards on the slope of enlightenment.
Trying to analyze each technology theme on its own, however, is the wrong approach. These are evolutionary, not revolutionary changes – they coalesce into one another, feeding off each other’s developments, creating something entirely new.
At those points where they converge, the magic happens. They will fuse together to reshape the ways in which we interact with the world around us, with each other, and completely alter the nature of the business.
MPUMI NHLAPO is a recognized thought leader, writer and public speaker on Digital Transformation. He spent over 10 years building Intervate Solutions, a start-up business in the Technology sector, with his partners, which they grew to become the leading Microsoft Solutions Provider in Africa.
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In 2017, The Nigerian Stock Exchange emerged as the world's 3rd best-performing stock market following the 43% year-to-date return recorded by the All Share Index during the year.
The Stock Exchange on the 9th January 2018 maintained its impressive performance as the All Share Index rose above the 40,000 mark for the first time in three years, Specifically, the Index rose to 40,362.97 points yesterday from 39,849.65 points on Monday, the highest since October 2014. Market capitalization which opened at N14.181 trillion inched by N182 billion to close at N14.363 trillion.
The volume of shares transacted rose by 27.52%, with 770.89 million shares valued at N7.89 billion traded in 7,395 deals as against the 604.53 million shares worth N16.17 billion exchanged in 5,769 deals previously.
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Nigerian Equities market closed on monday on a positive note, as NSEASI appreciated by +2.38% to close at 39,849.65 basis points as against +0.64% appreciation recorded previously.
The Bond market traded on a relatively quiet note, with slight sell at the close of market offsetting some initial buy interests on the long end of the curve. Average bond yields consequently inched up by 3bps to 13.57%.
Stanbic IBTC Stockbrokers Limited led the top 10 stockbrokers on the Nigerian bourse for the year ended December 29, 2017.
The appointments of Mr. Balogun and James Ilori to the Board of Legacy Pension Managers (“Legacy Pensions”) come in the wake of the acquisition by FCMB Group of 60 percent of the company, raising its interest to 88%.
The Nigerian equity market set off the New Year on a laudable note as most indicators across board closed in the green during the period under review.
In line with post-listing requirements of the Nigerian Stock Exchange for quoted companies, Zenith Bank Plc hereby informs you of the scheduled commencement of the closed period for trading in the bank's shares on January 8, 2018, in respect of the Audited Accounts and Financial Statements for the financial year ended December 31, 2017.
The Federal Government of Nigeria Savings Bond offer for January opens today the 8th of January 2018 and will remain open for five days until the 12th of January 2018.
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African Perspective - Ryan Hogart
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Food subsidies at work should not be “added benefits”. In fact they may be a way to attract and retain staff (especially Millennials).
That's according to 60% of Fortune 500 companies, including the likes of Facebook, Google, Microsoft, Deloitte and Goldman Sachs, who offer some form of food benefit to staff.
The cost to company however is high - but technology and the rise of food delivery apps in SA combined with favourable tax laws provide an answer.
OrderIn, local food delivery app has worked with SARS to incorporate tax-deductible meals into its app offering a virtual canteen of cuisines to businesses.
Companies can register and offer employees an 18% to 45% tax break on all food ordered with OrderIn during office hours. There are only a handful of countries in the world that have such favourable tax laws.
Want to attract and retain millennials? Food subsidies are not “added benefits”, they’re a business imperative. That's according to 60% of Fortune 500 companies, including the likes of Facebook, Google, Microsoft, Deloitte and Goldman Sachs, who offer some form of food benefit to staff. The cost to company however is high, or at least it used to be, until OrderIn, a food delivery app, which offers a virtual canteen of cuisines and an instant tax back benefit to employees.
“We want to change the way people order in by using technology to create more value for all our customers – from the time conscious corporate to the cash-strapped consumer,” says OrderIn founder and CEO, Dinesh Patel.
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Africa’s early stage investor community came together from 15th to 16th Nov. 2017, for the 4th annual African Early Stage Investor Summit – #AAIS2017. This exclusive investor-only event, hosted at Workshop17 in Cape Town, South Africa, unites key stakeholders in the ecosystem from across the continent to exchange best practices, share lessons learned and plot the roadmap for the future.
This theme ‘START-SCALE-EXIT' F(o)unding Great Startup Teams Poised For Global Success’ focuses on the role investors play in working with startup teams to scale internationally and ultimately exit. Topics key to this year’s event will for example be:
expanding from Africa to the world;
building international syndicates;
taking startup teams from idea to exit;
angels exiting to VC’s.
The World bank Digital Accelerator, XL Africa, Showcase 5 out of 20 entrepreneurs.
We are in conversation with Benjamin Meltze, Natalie mend, Abubakr Abdullah, Joan Mneney.
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World Bank’s Digital Acceleration Program, XL Africa was at the Africa Angel Investor Summit 2017, through which top 20 African start-ups showcased their business models. These businesses have traction with digital services and products on the market now, and are seeking Series A capital between $250,000 to $1.5 million.
XL Africa (https://www.xl-africa.com); is a five-month acceleration program designed to support the scale-up of top 20 startups from Sub-Saharan Africa (SSA), selected from some 900 applicants.
Innovation and Entrepreneurship At The Centre of World Bank's Agenda For Africa - XL-Africa
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We are what we think. What we think is determined by our ability to learn; and the basis for learning is established in our first 1,000 days of life. It is during those early years that we lay the foundation for endless possibilities.
Erika is a Portfolio Manager at Innovation Edge, a key part of her role is challenging investees to apply their skills to a space that is often unfamiliar to them. This involves helping them to re- imagine their ideas to solve challenges that they did not necessarily set out to solve. This is frequently where the real innovation happens.
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We're introducing news things on the show and I'm proud to announce that we will have a Personal Finance feature.
The contributor to this segment is Adam Helper who is an accredited Financial Advisor. We first get to find out who he is, then we're discussing how to maximise your retirement savings. You don't wanna retire poor, right?
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“Today’s investment in Enterprise Development is Tomorrow’s Security of Supply”
The ABSA Enterprise Supplier Development provides both the public and private sector with the opportunity to showcase their leading verified Black Owned Suppliers.
HOSTED BLACK OWNED SMME’s Over 400 verified black owned business from across sectors.
PROCUREMENT PROFESSIONALS / BUYERS Procurement professionals have the opportunity to SOURCE from over 400 of these highly rated SMME’s in order to meet your preferential procurement and supplier development needs!
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As we know that the way we conduct business today is ever changing, you see this change frequently through the term coined as digital transformation or in essence the digitalisation of business. Sarah is taking to the stage during the Smart Procurement conference to distil what this digitalisation means today and how procurement processes can be simplified to drive business forward. Cloud technology is proving to be a key catalyst towards driving business growth; addressing the need to streamline business process, increase rapid time to innovation, gaining operational improvements and saving on costs.
We understand that with this technological innovation and development, comes much uncertainty- not knowing how this software-as- a- service solution works, or what potential it offers business, what it looks like and how it works.
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The Kenya supreme court ruling overturning the election and calling for new ones, the official verification of results in Angola, continuing troubles resulting from Lesotho and Zambia elections -- calls for an examination on what can be done to improve the electoral process.
On this show, we have conversation about the following:
. How do we Make Election Commissions truly independent.
. How do we Remove political party and incumbent administration advantages by ensuring full access to state media by opposition parties (quota system of air time) and resources.
. Giving actual power to the decisions of international election observers.
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In this episode, we will be focusing in Lagos, Nigeria. Sub-Saharan African tourism has grown by an average of 4.3% per year since 2008, outpacing the global average of 3.2%, this growth is expected to continue reaching over 45 million arrivals by 2018. The Increased Foreign Direct Investment (FDI), new trade partnerships, access to international capital and rise of the middle classes will help the continent live up to its tourism potential. However, governments and stakeholders need to develop the right strategies and regulations to maximise the benefits of tourism. Huge opportunities for tourism development exist in sub-Saharan Africa, with international arrivals expected to reach over 45 million visitors by 2018, this will be driven by strong economic growth and increased flight capacity.
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Dipolelo Moime of Lerato Advisory Group join the host of Business Today in Africa for his weekly Africa Business Report.
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China’s economy maintained its momentum last quarter, as global trade and domestic demand spurred a pickup at the nation’s factories.
Yuan Set for Longest Run of Gains Since 2015 on Fixing, GDP Data.
South Korea to Boost Minimum Wage by 16%.
Oil Holds Gain Above $46 as Demand Seen Helping Drain Stockpiles.
Saudis Seek Bids for First Utility-Scale Plant for Wind Power.
Foreign participation in Egypt's T-bill auction at $223 mln
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Equities market closed friday on a negative note, as NSE ASI depreciated by -2.45% to close at 32,122.14 basis points, as against -1.64% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at +19.53%
CBN Forex Supply Hits $7.136bn in Four Months.
Interbank rate drops on N152.6b T-Bills, forex refund.
Rising Nigeria oil output double-edged sword for economy.
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Multichoice launches the new ARRIS HD PVR which is known as the EXPLORA 2. We speak to the Regional Vice President of Sales at ARRIS, Mr Darren Granger. Arris are the makers of this new decoder and we get to learn a bit more about it.
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Business Headlines daily from across Africa.
Live on Africa Business Radio Monday to Friday 8:00cat.
www.africabusinessradio.com
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Uganda: Government Acquires Shs6 Billion Weather-Reading Machine, Ethiopia: Nation Preparing Higher Education Roadmap, Uganda to Import Chinese Teachers, Rwanda: Entrepreneurs Showcase Products in U.S. etc
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MTN seeks to raise billions through IPO, Manufacturing PMI Declines to 42.1% in August from 44.1% in July 2016 - CBN, Power companies to clear future debts with corporate bonds- Trekker, Kenya, Rwanda sign free trade pact with Europe, Global currency trading shows first contraction since 2001, says BIS, Manufacturing PMI shocks with a sharp fall into contraction territory, MARKET WRAP: JSE closes weaker as retailers lose ground, NSE-ASI records 3-day gain, hits above 28,000bpts as bellwethers end bullish, Oil and gas production schedules for East Africa
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Business denies asking Zuma to act unconstitutionally in Gordhan case, Stocks fall further as pressure on Big CAPs gains tempo in Nigeria, Trade, financing top Japan-Africa forum’s agenda, Banks say awaiting guidelines on existing borrowers after rate cap, FEC approves 2017-2019 MTEF, targets 3% economic growth in 2017, MARKETS WRAP: JSE ends weaker in cautious trade ahead of Yellen speech, Rand weakens again as Gordhan’s possible prosecution looms, Oil prices up nearly 1% on soft dollar, Opec speculation, MAN seeks reduction of interest rates, review of export scheme, Banking stocks fall after lending rate cap, Bonds are stable, but higher yields are expected
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JSE jumps 1.3% as risk-on sentiment boosts banks, Consumers Are Resisting Price Increases in the Retail Market - FDC, MPs rescind move to throw out Sh5bn core capital cap for banks, Banks say rate cap to lock out 40pc of new borrowers, Rand holds still as US jobless claims steadies dollar, High lending rate rattles manufacturers, cripples biz growth in Nigeria, Brexit decision hits diaspora remittances to Nigeria, others, Retail sales growth hits low gear in tight times
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South Africa, Nigeria, Kenya.
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Zambia re-elect President Lungu, KPMG disagrees with South Africa's economy overtaking Nigeria, Safaricom recorded Sh13.1b Inflow of Money from Kenyans in the Diaspora via mesa, Nigerian Security Exchange Commission says Crowdfunding won't work in Nigeria for now because of lack of appropriate regulatory policy, Nema ignores Treasury cap directive, sets risk-based audit fees, Oil extends gains above $44 on output freeze hopes, MARKET WRAP: JSE dragged to weak close by platinum and gold stocks, South African Bonds little changed as traders await US data
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How do African films tap into the box office network and gain more returns on their investment. (due to technical problems, interviews for this episode where disrupted and have been moved to next week)
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Multinationals, tea pickers lock in fight that threatens the industry, Value Of Trading On NSE Rises By 49% To N78bn In June, Fitch expects Brexit to have limited effect on SA, Manufacturers Lose N348.6bn To New Forex Policy, CBK now moves to Appeal Court in bid to stop Sh5bn claim, Forex reserves dip by Sh28bn as CBK fights to stabilise shilling after Brexit, Oando Announces N4.1bn Profit For Q1, Confusion reigns for banks on new decision to tax fees in Tanzania, Oil Slump: Taxation Is Nigeria’s Future – LIRS Boss
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10 Brokers Traded N98.430billion Shares In June, Kenya banks on saccos to lift growth of coffee, cotton, Tshwane meter case back in court, Gas Investment Deficit Denies Nigeria 40,000MW Of Electricity, Famous Brands spots gap, buys ‘practically unused’ tomato paste factory, Insurance fraud costing Kenyans dearly, says firm, JSE looks set for gains as global Brexit recovery continues, FG Earns N724bn From Oil In Three Months, Rwanda multiplies import duties on used items, Rotich’s taxes on locally made cars put 10,000 jobs at risk
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Russian firm pulls out of Uganda’s $4 billion oil refinery, FG To Borrow N395bn Via Bonds, Barclays Africa appoints Peter Matlare as its deputy CEO, Power: FG Eyes Offshore, Inland Basin Gas Reserves, African Bank offers to buy back $500m of bonds, Vodacom CFO to replace Safaricom's finance chief, Taxi-hailing app Taxify sets up operations in Nairobi, New Code Will Separate Roles Of Chairman And CEO – NCC
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Old Mutual to retain ‘strategic minority stake’ in Nedbank, Stocks: Analysts Expect Cautious Trading This Week, Fish firm denies owing fallen Imperial Bank Sh10bn, British shares bounce back a little from Brexit dive, NSE facilitates N11tn securities investment in 10 years, Royal Bafokeng and Liquid Telecom to buy stake in Neotel, Small-scale farmers to start paying income tax, President Jacob Zuma arriving in Botswana last night, ahead of the SADC Double Troika scheduled for 28 June 2016
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Energy investors’ big plans for Africa, Shareholders block transfer of Imperial Bank assets to NIC, Nigerian firm cuts gas supply to Ghana, M Oriental Bank cuts out ATMs as it sets sights on family businesses, CIS endorses CBN’s floating exchange rate policy, SABMiller is seen as a cut above its proposed parent company, NPA boss foresees 2016 revenue rising as naira floats, German airline launches second Mombasa flight
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Level of violence in Tshwane ‘not anticipated’ says David Mahlobo, FG To Raise Foreign Borrowing To 40%, Liquidation looms with NIC set to take over Imperial Bank, Vodacom recruit a dilemma for MTN, Rising inflation may sink JSE, NNPC targets profitability by end of 2016, IMF wants interbank interest rate controlled
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Financial Institutions Key To SDGs Attainment – Minister, How piling debt is taxing economy, Relief for Imperial Bank depositors as NIC takes charge, Nigeria’s economy attracts $77bn foreign investments in six years, Treasury calls for carbon tax comment in South Africa, CAP Plc records improved results, pays N1.645bn dividend, Airtel wins Sh531m tax demand case
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Investors braced for Brexit referendum, Stock Market Maintains Upward Streak, Rallies 8% In 3 Days, US urged to take lead from SA in dealing with brewers’ merger, Uchumi set to shut down over debts, EU Woos Nigeria With N1.4tn EPA Offer, 600,000 face hunger as drought hits West Pokot, British firms could relocate here, Davies quips, NNPC Unpaid Bills Hit $1.8bn, New KCC sponsors 88 farmers for tour to boost production
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Government working hard to promote confidence in the economy – Zuma, Ghana's purchasing power among the lowest in Africa, CBN Empowers Entrepreneurs, Commences Training For YEDP Applicants, Andela Raises $24 Million From Mark Zuckerberg And Priscilla Chan's Fund To Train African, Senate constitutes committee to probe non-remittance of N1tn by NNPC, Five airlines express interest in buying majority stake in KQ, Malema says EFF is not fighting against white people, Trade ministry drafts rules for commodities exchange, Stocks gain as CBN says market will determine naira rate
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Rwanda economy grows by 7.3pc in first quarter, Sliding economy puts brakes on retail sales, FG of Nigeria secures N90bn conditional loan for states, Oil prices drop further on supply, Britain EU exit fears, Germany, China eye joint business efforts in Africa, Asia, SA has huge wind energy potential, says Nordex, Nigeria allows naira to float against US dollar
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Constitutional Court clears the way for August 3 elections, World Bank releases $39m for Madama projects, Table motion on poll reform, MPs told, Nkandla architect and top public works officials to escape prosecution, No respite for capital market this week – Analysts, Armscor charter aims to boost market access, Lufthansa steps up focus on Nairobi route, Big malls eye SMEs as competition for tenants hots up
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E-tolls may be fairer but World Bank has doubts about future, Local Firms Pay More For Gas Than Foreign Buyers, Stocks plunge further amidst bleak economic outlook, Longhorn acquires majority stake in Law Africa Publishing, NCIC to summon Moses Kuria, Kimani Ngunjiri, FG generates N586.17bn from taxes in 90 days, Ireland exports to Kenya increase to Sh10bn, Nonexecutive directors paying double tax: your troubles may soon be over
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Safaricom to launch Uber rival taxi app service, Nigeria can earn $100bn annually from non-oil sector – Awolowo, Easing inflation gives Lesetja Kganyago a little more wiggle room, Govt scraps porting fees for mobile phone users, US, Indian refiners shun Nigeria’s oil amid outages, Poor economy fuelling protests and criticism, says ANC, Tiger says exit from Ethiopia does not signal a retreat from the rest of Africa, NNPC lost N19.43bn in April – Report
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Rotich waited for an hour to read the budget speech, BoI disburses N83.5bn to 776 enterprises in 2015, posts N44.7bn profit, World Bank Cuts 2016 Global Growth Forecast To 2.4%, Oil Hits 2016 High On Nigeria Supply Disruptions, Africa needs a skills revolution, says Dlamini-Zuma, Ramaphosa urges action as GDP shrinks, Inflation bites into house price increases, No more cuts during network maintenance, says Kenya Power, Al-Shabaab raids Ethiopian army base, South Africa terror alerts spark diplomatic tensions, Without a Cabinet, Museveni reads own budget as opposition protests
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Zambia shortlists bidders to build two large-scale solar plants
Low Cost Private School Firm Bridge International Keen On Liberia Despite Opposition
Brainworks Takes Over Nettcash Zimbabwe
Funds transfer: WorldRemit partners with MTN in Ivory Coast
KFC closes all shops in Botswana – press statement
Letshego sets up Sh16bn mortgage for low-income housing in Kenya
Chemelil Sugar Company Kenya is insolvent, says Ouko in audit report
IATA calls on Venezuela, Nigeria to release foreign airline revenues
Trade Union Congress (TUC) to acquire 57% stake in Unity Bank Nigeria
GSK Nigeria seeks shareholders approval to sell Lucozade, Ribena
Access Bank Partners Wapic, Ghana Life For Bancassurance
Ghana’s ADB Confirms Investor Refund After Rejected Share Sale
Ghana Cocobod to Start $2b Syndicated Loan Roadshow This Month
U.S. Blockchain App To Launch Public Ledger For Real Estate In Ghana
Ghana Military obtains license to operate Savings & Loans company
Mahindra mulls local assembly in South Africa
Naspers invests $60 million in online-learning company Udemy to expand global reach
Uber Starts in Uganda to Add Fourth Sub-Saharan Africa Market
Uber gets $3.5bn investment
Kibo, Lake Victoria to consolidate Tanzania projects
Angola President Appoints Daughter as Head of State Oil Firm
Majority stake sought in Moz limestone project
Germany’s DEA May Sell its Stake in Egypt Oil Fields: Mal
Helio Resource Corp and Damara Merge Namibian Interests into Osino Resources Corp
African airlines set to lose $500m in 2016
Tourists around the world spend estimated $1.2b in 2015
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We do a round up of major business stories that came from across Africa during the week between Monday 23rd to Friday 27th May 2016.
With fuel price hike, food prices go haywire in Nigeria
MMI Holdings Limited increases its stake in United Metropolitan Nigeria Life Insurance Limited to 100%
Nigeria Sees Growth of 4% in 2017 After Reforms
Lagos Consortium Agree to Construct N844 Billion 4th Mainland Bridge
Alexandria Cement ,Egypt obtains LE150m loan from HSBC
CIB,Egypt extends SPA period for CI Capital deal till June 9
Kenyan Investors Urge President, Opposition Talk on Elections
Texton buys two property portfolios in South Africa and UK
BTG Said to Seek Sale of Stake in Petrobras, SA Joint Venture
Orange, SA Said to Mull Bid for Some Millicom Assets in Africa
The South Africa Foschini Group Paid 4.4m Pounds for U.K. Chain Whistles
Botswana Government to Sell BCL Mine to Strategic Partner
Ugandan Power Distributor Umeme Seeking Funds To Invest On Network
£2bn set aside for solar energy in Africa
Banks in Ghana struggle to mobilise deposits
Development Bank says continent far from debt crisis
Relief for Kenya's Uchumi Supermarket as six suppliers agree to withdraw
KCB, Kenya Q1 net profit up 6pc as bad debts jump
AfDB Urges African Economies to Rapidly Diversify Exports
Angola Trade Balance Remains Vulnerable to Oil Prices, BMI Says
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Ghana businesses asked to take advantage of tax reforms to maximize returns, Junior workers bleed KRA as probe targets managers, After Ebola outbreak, World Bank creates 'pandemic insurance plan', FG to set deadline for NNPC, refineries’ privatization, Government to limit farm sizes to speed up land reform, CBN disburses N55bn to 24 power firms as FG seeks improved supply
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Bank of Ghana stays policy rate at 26%, says economy turning the corner, Nigeria: Fuel Price Hike - Reps Ask NLC to Suspend Planned Strike, to Meet Labour Leaders, Rwanda opens pioneering methane electricity plant - will also reduce of natural disaster, Gauteng begins licensing Uber driver partners as company plans for new jobs from food to parcel deliveries, Organisations seek Nema approval to grow GMO crops,
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Moody’s downgrades Nigeria’s Sovereign Issuer Rating to ‘B1’, US urges Ghana not to miss out on $500m MCC compact, Gordhan confident of meeting fiscal targets, DTB raises stake in Uganda unit with Sh1.1bn injection, Kenyan MPs to vote afresh for gender Bill, Nigeria’s Manufacturing Index declines in April, South Africa's PIC to invest $4.7 billion and stimulate jobs, growth, C. African Republic’s capital exposed to severe power outage
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Nigerian Interbank rate falls on budget, treasury bill funds, Kenyan Banking industry growth stagnates as lenders go down, South Africa relaxes visa rules for Kenyan travelers, third African Islamic Finance Summit in Dar es Salam - Tanzania on May 19-20, 2016, Chase Bank clients take out Sh1.6bn in three days, Rand worst performer as commodities slump, Investment Opportunity: Ivory Coast Electricity, Water Monopoly Could Be Ending
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Ethiopia close to kick-starting $150b green economy, Mauritania gold rush: Diggers require official authorization, South Africa delegation poised for economic forum in Rwanda, Panama Papers: Liberia Defends Its Record As A Tax Haven, UN Security Council to visit Somalia, Loans window opens for Chase Bank clients, Aviation passenger traffic in Nigeria dipped by 0.4% in Q4 2015, Solar energy could earn Ghana $38m yearly
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South Sudan asks Nairobi court to release frozen funds, African Revenue Service (SARS) to exempt foreign e-commerce form value added tax (Vat), Nigerian Federal Government commenced Preparation for 2017 budget, Business mogul founds party to challenge Bongo rule in Gabon, Mall of Africa quiets down after launch madness, Two institutions sign $50m credit agreement to finance trade between Arab and African countries, Further rise in inflation in Nigeria imminent as economy hurts
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Remittances to Ghana estimated at $2b in 2015, Zimbabwe to probe 7 companies over looted diamonds, Ethiopia secures $98m for transmission project, President Uhuru announces Sh6bn Pan Paper revival plan, World Bank gives Kachikwu thumbs up on NNPC reforms, Barclays Tanzania picks new chief executive, Oil hits 2016 high due to falling output, weaker dollar
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Mixed bag of fortunes as Chase Bank opens doors to customers, World Bank raises 2016 oil price forecast to $41 per barrel, Coffee price drops 17 per cent as crop season ends, 33.7 million Nigerians can’t access telecoms services – NCC, S/Africa still Botswana’s main goods supplier, Swaziland’s fruits, vegetable prices up by 80 percent, Atlas Mara says it is considering bid for Barclays' Africa unit, France seeks to re-establish business footprints in Ivory Coast, Is Mozambique The Greece Of Africa? A Fishy Tale Of $1B Hidden Debt, Banks record lower impairment charges as risk management improves.
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World Bank President arrives Nigeria, South Africa celebrates 22nd Freedom day anniversary, Kenya's former first lady Lucy Kibaki dies in London, Mall of Africa’s opening adds to SA’s oversupply of shopping centre space, Ghana has third highest interest rates in the world, NTV reality show to help Kenyan start-ups attract funding, Chinese company to build R11bn motor plant in Port Elizabeth
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Kenya reviews tea taxes to boost main foreign exchange earner, FG failure to issue infrabond holds back N500b pension fund, President Mahama swears-in Bank of Ghana Governor, National Bank of Kenya on the spot over failure to reveal sacking of CEO, DRC eyes membership of E/African railway project, Jordan's exports to Africa account for 2.2% of total exports: Minister, More than $80 billion leaves Africa illicitly – Mbeki
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EAC states seek common policy to run pension schemes, Poultry farmer accuses retailers of ‘economic racism’, Malaria vaccine to be introduced in Africa soon, CBN provides rice farmers with N4.9bn loan, Kenya’s Cabinet gives nod to new mining policy, Uganda: Proposal for return of graduated tax opposed, CAR President wants arms embargo lifted, Forex scarcity encouraging local production —CBN gov etc
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Ghana falls in press freedom index as situation of journalists worsens, Clarke Energy to supply Tanzanian milling Co with natural gas, Open Gupta accounts or we will lose our jobs: Oakbay staff, Infrastructure is critical to AgriBusiness in Africa, Kenya Airways set to fly to Cape Town, German investors eyeing Namibian, Kenya Woos German Investors, Botswana to sensitize nation on AGOA opportunities etc
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Municipalities to increase electricity tariff by 7.5%, Dangote Cement excites shareholder by performance, China helps Ghana legislature with security upgrade etc
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South Africa warns tax dodgers saying no more amnesty, East Africa benefits from famine in Malawi, Stalled Mombasa-Nairobi Pipeline set to overshoot budget, Real Estate investment on the Outskirt of Nairobi becomes more lucrative as land prices soar, Nigeria reject IMF proposed solution to economic challenges, Allan Gray banking on Former Finance Minister Nene's experience etc
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Malawi declares National disaster as food shortage looms, President Kabila's future uncertain as DRC MPs requested court ruling, AfDB President visits South Africa, Petrol price drops to six-year low in Kenya, Ghana inflation rate for March 2016 is 19.2%, IMF Christine Lagarde requested that Nigeria should seek help from IMF, Nigeria loses $700 Million Monthly on Crude oil shipment.
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SADC moves on industrialisation of the region, South African Consumer confidence recovers slightly, AGRA draw up a $31m business plan for Ghana, East African Community's Vision of a single currency, News vessels expected as fuel scarcity lingers in Nigeria, Barclays Africa to Negotiate for name after parent's exit, IMF lowers SA's growth outlook for 2016 etc
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World Bank implicated in the Panama Papers leak said to be investing in companies linked to tax havens as reported by Oxfam, Ghana offers Nigeria $6bn infrastructure loan, Nedbank and CIPC team up for online service, World Bank reports that Low commodity prices will continue to negatively impact growth in Africa, Former Governor of The Central Bank of Kenya to be problem over banking crisis, South Sudan rebel deputy arrives in Juba, Bank of Ghana to fight inflation and boost growth, Kenya to fight fraud within the Insurance sector etc
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World Bank lowers 2016 growth projections for Sub-Saharan Africa, Chief urges the Government of Ghana to invest in cotton, President Mbeki hails court judgement against President Jacob Zuma,Nigerian Government eyes N1tn JV funds to finance budget deficit, New rules on capital to see more mergers within the insurance sector in Kenya, Credibility of Darfur referendum in doubt.
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Africa's richest man denies link to four shell companies as revealed by leaked Panama papers, Nigerian refineries lose N14bn in one month, Tanzania to export electricity to Kenya, Ghana's President denies loosing investment to Cote de voire , Major SA banks drop Gupta owned Oakbay investment group, Africa Union order probe into tax havens following the Panama leak
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SA Business Confidence continues to rise, 800 Boko-Haram surrender to the Nigeria Military, Momentum gathers to remove President Jacob Zuma, Angola/Japan to build first Africa-South America under sea fibre cable, AngloGold Ashanti to shut down operation in Ghana, Benin sworn in new President - Patrice Talon, Rep to send budget details to President Buhari this week etc
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Franc Minister to meeting in Yaounde, SA Minister orders probe into panama leak, Canadian mining company evaded taxes in Tanzania, Ghana issued first onshore license, MPs want cartels off coffee chain in Kenya, Market sheds N1.1tn in three months on bleeding banking sector in Nigeria.....
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SA Apex Bank to raise interest rate, African Public Officials implicated in Panama papers, EAC has the highest integration index in Africa, Nigerian airpots are 96% safe from terrorist attacks, SA revenue agency collect more than $600 million in 2015/16. etc
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Topical business headlines from across Africa this morning; a closer look at the panama leaks and African millionaires that have been implicated, South African Corporate turns their back on Guptas and more.
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Business headlines across Africa.
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Business Headlines from all across Africa
Friday 01/04/2016.
www.africabusinessradio.com
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