December 2022 - January 2023

Forbes Africa

Africa's most influential business magazine

Forbes Africa1 min read
Forbes Africa
AFRICA Forbes DECEMBER 2022 | JANUARY 2023 • VOLUME 12 NUMBER 6 Chairman: Zafar Siddiqi Founder & Publisher: Rakesh Wahi Managing Director: Roberta Naicker Executive Director: Sid Wahi Non-Executive Director: Sam Bhembe MANAGING EDITOR Renuka Methil
Forbes Africa6 min readInternational Relations
‘Desperate Times Need Desperate Measures Or Then Let's Accept Our Fate’
IT WAS WONDERFUL TO SEE THE revival of the Forbes Global CEO conference that was held post Covid in Singapore in October this year. It was great to reconnect with global leaders as well as meet Forbes’ extended family from different parts of the worl
Forbes Africa3 min read
The Trials And Triumphs Of Being A Pioneer
BEING THE FIRST OF anything may always feel like an honor but there is a different sort of pressure that comes with that label. Just ask Nonkululeko Gobodo, who in 1987, became the first black female chartered accountant in South Africa. “When I comp
Forbes Africa2 min read
Tech It Or Leave It, It's Coming
AND 2022, A YEAR OF DISPARATE challenges, is also on its way out! Almost three years into this decade and it has been one of the most unforgettable in human history. 2022, the year the world stooped to war and the planet rose to climate chaos; the ye
Forbes Africa2 min read
World Population Hits 8 Billion: What It Means For Africa
On November 15, as per the United Nations (UN), the world's population reached 8 billion, a milestone in human development. “While it took the global population 12 years to grow from 7 to 8 billion, it will take approximately 15 years — until 2037 —
Forbes Africa1 min read
Ghana's Economic Woes
Ghana's Finance Minister Ken Ofori-Atta faced a vote of censure in November for his handling of the country's economy as annual inflation rate hit 40.4% for October. BBC Africa reported that the cost of essential commodities like staple food, fuel an
Forbes Africa2 min read
Key Events In Africa 2022
In January, a deadly tropical cyclone affected Madagascar, Malawi and Mozambique, killing over 115 people, injuring hundreds more and displacing over 200,000. The disaster was named the third-deadliest tropical cyclone in 2022. According to AllAfrica
Forbes Africa3 min read
10 African Soccer Stars To Watch In 2023
TAIWO AWONIYI: The Nigerian got his dream move back to England's Premier League with newly promoted Nottingham Forest after his previous spell as a teenager at Liverpool did not see him achieve the breakthrough he craved. Now mentally tougher after a
Forbes Africa3 min read
WATER AND POWER: Solutions To Greater Johannesburg's Infrastructure Challenges
Inefficiencies to the operations of water and electricity can lead to various issues, such as reduced productivity, employment and business opportunities, and disrupted health and economic growth. Without this infrastructure, economies would be at a
Forbes Africa7 min readSmall Business & Entrepreneurs
Ventures And Valuations: Africa's Billion-dollar Startups
IN POPULAR IMAGINATION, UNICORNS CONJURE up the picture of a rare but beautiful mythical creature described by the ancients as resembling a horse, with a single horn emanating from the center of its forehead. A timeless symbol of purity and uniquenes
Forbes Africa4 min readSmall Business & Entrepreneurs
A Chip Off The Old Block
THE UGANDAN-BORN CEO OF FINTECH unicorn, Chipper Cash, Ham Serunjogi, grew up watching his parents solve problems. Today, overcoming challenges is a daily routine and forms a culture of thought inherited from his upbringing “As an African, you're in
Forbes Africa5 min read
‘Keep Solving Problems And Getting Joy’
FOR MITCHELL ELEGBE, THE JOURNEY TO building one of Nigeria's most respected businesses, Interswitch, was driven by the passion to solve a social problem. He encountered it years ago in his youth when he tried to withdraw money from an ATM while abro
Forbes Africa2 min read
‘Education Can Move The World’
IN 2021, JUST SIX YEARS AFTER ITS FOUNDING, elearning platform Go1 became South Africa's first tech scaleup to be valued at more than $1 billion. This was thanks to the tenacity of its co-founders, South African Melvyn Lubega and Australian Andrew Ba
Forbes Africa2 min readFinance & Money Management
‘Able To Build The Company To Over 200,000 Companies’
Backed by strong global partners including Stripe, Visa and Y Combinator, Paystack with over 80,000 customers is on a mission to digitize transactions and solve the payments problem in Africa The company currently processes over $200 million worth of
Forbes Africa1 min readFinance & Money Management
Expanding Africa's E-commerce Sector
FLUTTERWAVE IS A NIGERIAN FINTECH COMPANY with headquarters in the US, providing payment infrastructure for global merchants and payment service providers across Africa. It was founded in 2016 by Adeleke Adekoya and Olugbenga Agboola It accepts 30+ c
Forbes Africa2 min readSmall Business & Entrepreneurs
Backed By Tech Legends
AFTER GRADUTING FROM WATERLOO University, in Canada, Iyinoluwa Aboyeji, spotted an opportunity in the Nigerian massive open online courses (MOOCs) market and relocated back home to start Fora.com, a startup with a focus on incorporating MOOCs into th
Forbes Africa4 min readFinance & Money Management
Digitizing African Economies In A New Era
WEMIMO ABBEY, CO-FOUNDER OF ESUSU, A company which reports rent payments to major credit bureaus helping renters establish their credit scores and owners maximize returns, says the company was born out of personal struggles. Abbey grew up in the slum
Forbes Africa3 min readFinance & Money Management
Other Unicorns Operating In Africa
OPay is a mobile payment service platform, allowing users to send and receive money, as well as pay bills in Nigeria and beyond. OPay was founded in 2018 by Zhou Yahui, a Chinese billionaire entrepreneur. OPay has 18 million registered app users and
Forbes Africa2 min read
Nothing Should Get In The Way Of Getting Business Done
More and more, clients are looking for ways to keep their staff productive in a dynamically changing business environment. Whether your people are working from home, the office or abroad, there is a growing recognition that digitizing your operations
Forbes Africa5 min read
A Country At Its Watt's End
LOAD SHEDDING, UNSURPRISINGLY, IS THE 2022 South African ‘word of the year’ announced by the Pan South African Language Board in collaboration with Focal Points, a media research company. Load shedding, a term for rolling blackouts, has been a regula
Forbes Africa1 min read
Alternative Power Sources
• The mobile power bank market is expected to reach $28.5 billion by 2030, according to a report by Market Research Future. Power banks charge electronics, and the best power bank has a milliampere/hour (mAh) higher than the device you need charged.
Forbes Africa4 min read
When Information Is Power
THE PHONE GOES PING! AND THEN THE customary alert, that the country is going in to Stage 3 or Stage 4 or even Stage 6 ‘load shedding’ – the infamous word to describe rotating power cuts in South Africa. Every South African, every single South Afiican
Forbes Africa2 min read
A 100 Years Encapsulated In Every Sip
In business, it's always about the ‘Three Ps’ – profit, people and planet And for this experience, here's another – Proud Mary. Nestled in the heart of Rosebank's foodie district, it's a modern mid-century-inspired all-day eatery and wine bar that's
Forbes Africa3 min read
Plant Power
DIDINTLE MOREKFS ENTREPRENEURIAL story literally took root in her past. In Botswana's vast semi-arid shrub, grass and tree landscape, Mowana, Morula and Moringa grow naturally in the wild. The images of her grandmother and mother tending to them – as
Forbes Africa3 min read
Art For Advocacy
THE TINY EAST AFRICAN COUNTRY OF RWANDA is known for its rolling hills, verdant valleys and immaculate green spaces. Now there is art too, complementing the cotmtry's incredible visual appeal, thanks to the efforts of multidisciplinary artist Jemima
Forbes Africa3 min read
Beyond Safaris: Digitalizing Travel
CHARLES SHIMA WAS 16 YEARS OLD WHEN HE had a gun pointed at him at the height of the genocide against the Tutsis in Rwanda in 1994. Luckily, he survived and was able to leave the country, which he loved, to tell his tale. Destiny made him cross the h
Forbes Africa5 min read
‘Intentional About Collaborating Through Meaningful Partnerships’
Q. On 28 & 29 September 2022, Mastercard hosted the second edition of'Collaborate to Innovate’, a virtual event that enjoyed huge success last year. What was new this time and tell us more about why you chose ‘Future Ready’ as the theme? Every day, t
Forbes Africa3 min readIntelligence (AI) & Semantics
ARTIFICIAL INTELLIGENCE Enabled Exploration Takes The Guesswork Out Of Gas
According to a recent report by the National Business Institute on the role of gas in South Africa, liquefied natural gas (LNG) is an important part of our transition away from emissions-heavy fossil fuels-only if it's affordably supplied. The report
Forbes Africa6 min read
Lord Of The Landlines
“GOOD FUN, GOOD FUN!” BELLOWS ROB Hale on a recent Friday morning. It's 6:30 a.m., and two dozen employees of Granite Telecommunications have gathered for one of their CEO's favorite rituals: hourlong morning workouts, a grueling grind of pushups, sq
Forbes Africa2 min read
Beyond STEM
PROVIDING ALTERNATIVE CAREER OPTIONS TO professionals, first generation Nigerian-American Eno Oduok has broken the norm herself. She is the founder of Naija Comm, an online platform catering to Nigerians in the creative industries looking for career
Forbes Africa3 min read
Climate Change And Investment Advocate Of Zimbabwe
The award-winning Zimbabwean entrepreneur and philanthropist Edd Branson is leading a green investment drive that currently operates in three continents. Edd Branson has used his international business and political network to attract green investmen
Forbes Africa4 min read
Let's Collectively Shape A Sustainable Future
Sustainability has risen to the top of the economic agenda globally as consumers become more focused on reducing their carbon footprint. According to a global consumer survey commissioned by Mastercard, consumers demand that brands be more sustainabl
Forbes Africa4 min readIntelligence (AI) & Semantics
The Rise Of AI Art
WHAT IS AN ARTIST? IN THE AGE OF artificial intelligence, machine learning and text-to-image tools, it's questionable. Anyone with a computer can generate stunning images in seconds thanks to tools like Midjourney, DALL-E, Stable Diffusion and Craiyo
Forbes Africa4 min readIntelligence (AI) & Semantics
When Seeing Is No Longer Believing
IN THE BEGINNING, IT WAS A LOT OF FUN. Anyone could create a deepfake video to merge their face with that of a celebrity. At first, these videos were shared across social media as a parody and everyone laughed. What could be better than becoming the
Forbes Africa4 min read
‘It's A Diamond Mine!’
YOU FEEL A DEEPLY INSPIRING AND IMMERSIVE connection with Africa every time you speak with Arunma Oteh. And when the reason for this conversation is the 120th anniversary of the Royal African Society, which this Nigerian trailblazer now chairs, it's
Forbes Africa4 min read
Building Better Futures On The Continent
“This is our report to society. It is how we hold ourselves accountable and show how we're building better futures on the African continent. We are proud of the impact we have made over the past year,” says Ruwayda Redfearn, Deloitte Africa CEO. Redf
Forbes Africa8 min read
Beg, Borrow or Style
IT DOES NOT TAKE A LOT OF CASH TO SASHAY stylishly on the streets of South Africa, the continent's second biggest economy. The pantsula style, inspired by the gardener uniforms worn during the Apartheid, are popular, and so also the lavish skhothane-
Forbes Africa3 min read
Leveraging Meaningful Partnerships To Drive Social Change
The African Development Bank has acknowledged the impact of climate change on Africa and has pointedly reported that African economies have taken a hit of between 5% and 15% to their economies because of the effects of the rapid rise of climate chang
Forbes Africa5 min read
Rags, Not Riches
AT OXFORD CIRCUS IN THE HEART OF London, Rebecca Mossop, a store manager for George at ASDA, is getting ready to deliver October's haul of clothing — that didn't quite meet the exacting standards of the British consumer — to a delivery truck parked b
Forbes Africa4 min read
Bridging The Health Financing Gap In Africa
We are living in an era of unacceptable juxtapositions. In 2015, a report about the frontiers of longevity postulated that a child born then could live to 142 years. On the other hand, life expectancy in the lowest ranked 10 countries in the world ra
Forbes Africa1 min read
Feathers With Flair
STOCKISTS: Farfetch, www.farfetch.com • Rene Caovilla, www.renecaovilla.com • Jimmy Choo, row.jimmychoo.com • Valentino Garavani, www.valentino.com • Yves Saint Laurent, www.ysl.com • Net-A-Porter, www.net-a-porter.com • Woolworths, www.woolworths.co
Forbes Africa1 min read
To Tie For
STOCKISTS: Alexander McQueen, www.alexandermcqueen.com • Ball Watch, www.ballwatch.com • Paul Smith, www.paulsmith.com • Salvatore Ferragamo, www.ferragamo.com • Giorgio Armani, www.armani.com • Sunglass Hut, www.sunglasshut.com • Woolworths, www.woo
Forbes Africa1 min read
Arts Décoratifs
STOCKISTS: Sound & Image, www.soundimage.co.za • Skins Cosmetics, www.skins.co.za • Luxdeco, www.luxdeco.com • Jenny Robert Exclusive Decor, www.jennyrobert.co.za • Block and Chisel, www.blockandchisel.co.za • Carrol Boyes, carrolboyes.com • Everard
Forbes Africa4 min read
The Luxe Life
The Tambour Horizon Light Up connected watch by Louis Vuitton draws design inspiration from the original Tambour watch. It has a 1.2-inch AMOLED display with 390×390 resolution in 44mm size. It features 24 LED lights that animate the face like a danc
Forbes Africa3 min read
Come Alive In Mauritius
The newly launched Come Alive Collection is a part of the transformation introducing a range of special experiences available across all the Sunlife resorts with clear messages around the core values of Sunlife. The project has also worked across all
Forbes Africa3 min read
Tall Talent
AFRICA HAS A DEEP-ROOTED LEGACY IN THE NBA and provided star names in the past such as Hakeem Olajuwon, Dikembe Mutombo, Manute Bol and Luol Deng. This year, we got to see a new crop of players with ties to the continent, who have set their sights on
Forbes Africa3 min read
Crucial Not Only For The ANC But Also The Country
THE POWER struggle for who will be South Africa's next president is in full swing. In December, the country's ruling party's all-important African National Congress (ANC) conference elects a new national executive committee. Set to be the most widely
Forbes Africa3 min read
Reflections And Resolutions: Towards A Just Society
Awhile ago I watched a conversation between US Senator Bernie Sanders and Ambassador Mikko Hautala. The Senator asks why Finland is the happiest society on Earth. The Ambassador said, “I think that we have seen is that there's high degree of trust in
Forbes Africa3 min read
Bringing African Luxury To Skincare
As beauty ideals begin to shift around the world, the demand for brands that understand the plight of African skin continues to grow. Tapping into a billion-dollar industry that is dominated by international companies is no easy feat Yet, Faria Ichol
Forbes Africa3 min read
Why WFH Has Become A Pantomime Of Productivity For Some
– The writer is the Chief Executive Officer of the Australian Institute of Management WA USING THE words “work” and “home” in the same sentence usually stirs up a mixture of delight and disapproval – in almost equal parts. On the one hand, those luck
Forbes Africa3 min read
Free Trade Necessary To Increase Africa's Economic Development
– The writer is the outgoing Vice-Chancellor and Principal of the University of Johannesburg and on March 1,2023, will become Rector of the United Nations University AS THE AFRICAN continent, we find ourselves somewhat in an economic depression. Desp
Forbes Africa3 min read
‘Crypto Is Not The Future, It's Very Much The Now’
For the past two years, the theme in the financial services sector has been the evolution of digital payment systems. Cryptocurrency exchange company, Yellow Card Financial, is a part of this growing sector with Chris Maurice as the company's CEO and
Forbes Africa3 min read
Capital Charm
IT NEVER CEASES TO AMAZE ME WHEN I TRAVEL abroad and tell people I'm from South Africa that there is always someone who asks: “Where is that?” I can't help, slightly arrogantly, thinking to myself that if there's one country in the world with a clue

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