Facebook Africa Year in Review

Imagine a secluded getaway, with breathtaking panoramic views of crystal clear waters and white sandy beaches. Rediscover Maldives &#8211; a safe haven where the unique geography lends itself naturally to social and physical distancing. With 1,190 islands scattered across the Indian Ocean, this factor alone makes for a wonderful reason as to why you should pack your bags and head to the island nation.



Adding to this is the one-island-one-resort concept, which Maldives is famous for. This simply means that resorts are established on one island, ensuring privacy for the guests. Besides staff and tourists, there are no extra guests living at these resorts.&nbsp;



The World Travel and Tourism Council (WTTC) awarded the Maldives with the Safe Travels Stamp in September 2020 for the enhanced health and safety measures in line with global safety protocols. It is the world’s first ever global safety and hygiene stamp for Travel &amp; Tourism endorsed by the World Tourism Organization and more than 200 travel companies.&nbsp;



On 27 November 2020, the Maldives was awarded the World’s Leading Destination in 2020 by the World Travel Awards &#8211; a historic win for the island nation.



<figure class="wp-block-image alignfull size-large"><img loading="lazy" decoding="async" width="1110" height="741" src="https://cms.cnbcafrica.com/wp-content/uploads/2020/12/2-1110x741.jpg" alt="" class="wp-image-393912" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/12/2-1110x741.jpg 1110w, https://cms.cnbcafrica.com/wp-content/uploads/2020/12/2-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2020/12/2-768x513.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2020/12/2-1536x1025.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2020/12/2-scaled.jpg 2048w" sizes="auto, (max-width: 1110px) 100vw, 1110px" /></figure>



<h2 class="wp-block-heading" id="h-remember-to-check-the-travel-guidelines-before-you-travel-to-the-maldives">Remember to check the travel guidelines before you travel to the Maldives</h2>



On 15 July 2020, the Maldives reopened its borders to all international tourists where all nationalities can enjoy 30 days with a free visa upon arrival.&nbsp;



To enter the country, make sure a confirmed booking from a tourist establishment registered with the Ministry of Tourism in the Maldives is in place as this is mandatory. A complete list of opened tourist establishments along with other tentative reopening dates are available on the <a href="https://visitmaldives.com/en/covid19-updates">Visit Maldives</a> website.&nbsp;



An online Health Declaration form is required to be submitted by all tourists 24 hours prior to departure. This is available through the<a href="https://imuga.immigration.gov.mv/"> IMUGA portal</a>. All tourists are also required to have a negative PCR test taken 96 hrs prior to the departure to Maldives. The result should also be submitted through the <a href="https://imuga.immigration.gov.mv/">IMUGA portal</a> within 24 hrs prior to the departure from the first port of embarkation en route to the Maldives.



<figure class="wp-block-image alignwide size-large"><img loading="lazy" decoding="async" width="680" height="1024" src="https://cms.cnbcafrica.com/wp-content/uploads/2020/12/5-680x1024.jpg" alt="" class="wp-image-393915" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/12/5-680x1024.jpg 680w, https://cms.cnbcafrica.com/wp-content/uploads/2020/12/5-199x300.jpg 199w, https://cms.cnbcafrica.com/wp-content/uploads/2020/12/5-768x1156.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2020/12/5-1020x1536.jpg 1020w, https://cms.cnbcafrica.com/wp-content/uploads/2020/12/5-scaled.jpg 1360w" sizes="auto, (max-width: 680px) 100vw, 680px" /></figure>



In addition, local authorities encourage travelers to install the TraceEkee app (available on Google Play and AppStore) on their smartphones upon arrival. This is an online app introduced by the Health Protection Authority of the Maldives to mitigate community spread of covid19 by using bluetooth signals to detect encounters with other users. It helps to proactively identify positive cases faster and provide guidance and necessary measures at the earliest.



For more information: <a href="https://visitmaldives.s3.amazonaws.com/Gw16xrYE/ybitcuhe.pdf">Visit Maldives</a>



<h2 class="wp-block-heading" id="h-travel-from-one-island-to-another-easily-hop-onto-a-liveaboard">Travel from one island to another easily, hop onto a liveaboard!</h2>



The Maldives Split Stays are now available for all types of tourist accommodations &#8211; from resorts and guesthouses to liveaboards! There are many options to choose from since the country is not solely dedicated to resort-goers; it offers a number of options catering to a diverse range of preferences.&nbsp;



What is a ‘Split Stay’ you may ask? This allows tourists to experience their stay at more than one tourist accommodation in the Maldives and enable them to have a longer vacation. ‘Split Stays’ are permitted only between all tourist establishments that meet all the compulsory requirements under the split stay guideline by the Health Protection Authority (HPA) of the Maldives. Requests for approval of ‘split stays’ should be submitted to the Ministry of Tourism two days prior to the travelling date.&nbsp;



For the approved of list of tourist facilities: <a href="https://visitmaldives.com/en/covid19-updates">Visit Maldives Covid19 updates</a>



<figure class="wp-block-image alignwide size-large"><img loading="lazy" decoding="async" width="767" height="1024" src="https://cms.cnbcafrica.com/wp-content/uploads/2020/12/4-767x1024.jpg" alt="" class="wp-image-393914" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/12/4-767x1024.jpg 767w, https://cms.cnbcafrica.com/wp-content/uploads/2020/12/4-225x300.jpg 225w, https://cms.cnbcafrica.com/wp-content/uploads/2020/12/4-768x1025.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2020/12/4-1151x1536.jpg 1151w, https://cms.cnbcafrica.com/wp-content/uploads/2020/12/4-scaled.jpg 1535w" sizes="auto, (max-width: 767px) 100vw, 767px" /></figure>



<h2 class="wp-block-heading" id="h-get-enrolled-and-earn-points-through-maldives-border-miles">Get enrolled and earn points through Maldives Border Miles</h2>



The first of its kind loyalty programme for tourists, the Maldives Border Miles is an initiative by the Maldives Immigration together with the Ministry of Tourism, Maldives Marketing and Public Relations Corporation (MMPRC) and Maldives Airports Company Limited (MACL). The program will be launched in December 2020.



The three-tier loyalty programme is based on a point system for the number of visits, duration of stay and the occasion of visit. If you are traveling to Maldives as a tourist, you can enroll as a member of Maldives Border Miles. Points will be rewarded if you stay in a registered tourist facility and if you stay at least 3 nights in Maldives



For more information: <a href="https://visitmaldives.com/en/news/a-brief-introduction-to-maldives-border-miles#:~:text=The%20Maldives%20Border%20Miles%20is,be%20launched%20in%20December%202020.">Maldives Border Miles</a>



<h2 class="wp-block-heading" id="h-allied-inbound-maldives-first-covid-19-insurance-for-tourists">Allied Inbound: Maldives’ First COVID-19 Insurance for Tourists</h2>



The Ministry of Tourism, in collaboration with Allied Insurance, has also introduced the first COVID-19 Travel Insurance in Maldives. This policy covers charges for services including isolation costs, medical treatment and transportation costs to isolation/medical facilities and consists of two plans; “Allied Inbound” and “Allied Inbound Plus.” The package covers 7 or more days and can be purchased before arriving in Maldives through the <a href="https://myallied.mv/type/inbound-allied/new">&nbsp;Allied Insurance website</a>.



Choose this plan prior to your journey and enjoy your holiday in the Maldives with assurance of safety and peace of mind.



<figure class="wp-block-image alignwide size-large"><img loading="lazy" decoding="async" width="683" height="1024" src="https://cms.cnbcafrica.com/wp-content/uploads/2020/12/1-683x1024.jpg" alt="" class="wp-image-393911" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/12/1-683x1024.jpg 683w, https://cms.cnbcafrica.com/wp-content/uploads/2020/12/1-200x300.jpg 200w, https://cms.cnbcafrica.com/wp-content/uploads/2020/12/1-768x1152.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2020/12/1-1024x1536.jpg 1024w, https://cms.cnbcafrica.com/wp-content/uploads/2020/12/1-scaled.jpg 1365w" sizes="auto, (max-width: 683px) 100vw, 683px" /></figure>

Maldives: The perfect island getaway

By Murray Gardiner, MD, Bluecode Africa



As retailers gear up for the busy holiday shopping season, they’re facing a multitude of risks. On the one hand, there’s the resurgence of COVID-19 in South Africa and Nigeria while Europe has reinstated lockdown restrictions. With the acceleration of e-commerce during this period, in-person shopping with cards is consequently an unattractive option (even more so than it already was). On the other hand, with increased demand for online payments, comes the rising tide of <a href="https://www.iol.co.za/ios/news/experts-warn-of-cyber-crime-surge-this-festive-season-084ccfe2-e285-41b7-815c-c203636bdb7a">cybercrime and</a> card fraud.



The solution, on both sides of the spectrum, is for businesses to embrace digital payments (off the card rails) that can be secured with anonymity and do not require encrypted customer information and card authentication processes. Merchant-centric payments that provide digital transparency without compromising privacy, while driving sales and empowering businesses of all sizes are needed. It has never been more important to push financial inclusion for businesses and drive market momentum.



<h2 class="wp-block-heading" id="h-the-trouble-with-cash">The trouble with cash</h2>



At present, cash is still king in Africa. According to <a href="https://www.cashmatters.org/blog/african-cash-report-2018/">one report</a>, cash accounts for over 50% of transaction value in South Africa. This is despite South Africa having one of the most mature banking and payment spaces and the deepest card penetration rates on the continent. <a href="https://mofep.gov.gh/sites/default/files/acts/Ghana_Cashlite_Roadmap.pdf">Another study, by Ghana’s Ministry of Finance</a>, indicated that 99% of all payments in that country are made in cash.



Despite the growth of digital payments, cash isn’t going away. In fact, a report from <a href="https://www.currencyassociation.org/userfiles/files/7_%20Future%20of%20Cash%20Africa%202018-V4-sml(1).pdf">The Currency Association</a> shows that the value of cash in circulation grew steadily in six major African countries between 2008 and 2017.



That’s understandable. Cash is easy to understand. Cash is trusted. You hand over a set amount and get the goods or services you desire. It’s also so culturally entrenched that it doesn’t require learning new behaviours or merchants learning to “trust” that somehow their valuable goods are being exchanged for money in an account somewhere.



Despite its ubiquity and standing as the most deeply entrenched incumbent payment mechanism, there are serious downsides to cash. Aside from the cost implications and security considerations, cash doesn’t provide transparency to the bank for access to better financial services nor does it facilitate access to relevant value-added services which can provide business-growth incentives.



Cash is opaque by nature, which makes it difficult for a bank to understand a business. That opacity effectively ‘locks out’ small businesses from most of the benefits of the formal economy.&nbsp; Although many businesses are considered to be “included” for having a transaction account, cash-based businesses present too much cost and risk to be banked with higher value financial services and credit.



Digital transparency is essential to reduce transaction costs for the business and for the banker to understand how to invest and support their merchant client-base with financial products and services.



<h2 class="wp-block-heading" id="h-securing-e-commerce">Securing e-commerce</h2>



Physical merchants aren’t the only ones facing threats this festive season. While 2020 may have accelerated e-commerce sales, especially in emerging markets, it also made it ‘target-rich’ for cybercriminals. Imperva’s <a href="https://www.imperva.com/resources/resource-library/white-papers/the-state-of-security-within-e-commerce/">State of Security Within e-Commerce report</a> found that e-commerce websites experienced much higher levels of cyber-attacks than other businesses. Retailers and app providers have also become vulnerable to losing sales to cumbersome card security processes and consumers have become vulnerable to phishing scams and other fraudulent activity.



Most cyber-attacks are conducted with the aim of getting hold of sensitive customer data. And while the website itself might not hold that data, there’s every chance that its payment provider does. In the event of a breach, however, that will likely make little difference as far as the customer is concerned.



Any online business associated with a data breach will suffer major reputational damage, which can be incredibly difficult to come back from. Breaches are also expensive, with the average breach costing in excess of 40 million in SA Rand value.



But while it’s impossible to completely avoid cybercrime, there are steps that online retailers can take. The right digital payment provider will, for example, give businesses a secure anonymous token-based, hassle-free click and pay solution, where no customer data is associated with the payment. Where there is no data there is nothing to steal.



<h2 class="wp-block-heading" id="h-secure-transparent-inclusive">Secure, transparent, inclusive</h2>



Given that digital payments can provide such levels of security both to traditionally cash-based smaller businesses and to online retailers, it would make sense for them to adopt the technology en-masse. After all, with so much at stake this year, the imperative for merchants to reduce risk on all fronts has never been higher.



But it shouldn’t just be merchants trying to understand, and find, the right digital payment provider. Financial institutions should also encourage and incentivise merchants to adopt these technologies and find for themselves an off-ramp from legacy card-based payment schemes.



Doing so won’t just make consumers and businesses more secure at a time when they both need it most, it will also empower businesses to be more efficient and profitable in the long run. That’s the most important form of security there is.



About Bluecode:



Bluecode is a mobile payment solution that combines cashless payments via smartphones with value-added services and enables payments with merchant and banking apps. Founded in Europe, Bluecode has now expanded into Africa. Bluecode Africa is taking mobile payments into markets where its value as a technology payment service and scheme can make a significant difference for retailers, SMMEs and in the everyday lives of consumers. Bluecode Africa is focused on driving economic growth in the productive economy by unlocking opportunity and business potential with digital transparency. For more information: <a href="http://www.bluecodeafrica.com">www.bluecodeafrica.com</a>&nbsp;

Native Article 1 Hearder Bluecode

Why digital payments are the more secure alternative

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Harlequin Group Set Out The Path To Profitable Joint Ventures in Ghana’s Energy Sector

<h2 class="wp-block-heading" id="h-new-year-new-opportunities">New year, new opportunities</h2>



To describe 2020 as a challenging year feels like an understatement, to say the least. While US companies began the year with uncertainty over continuing tensions between China and the United States, by March a new, wholly unexpected series of challenges emerged as a result of COVID-19. As we look ahead to a new year, the question on many businesses’ minds will be how to build greater resilience and where to look for growth opportunities that position them strongly for the future.&nbsp;&nbsp;



A <a href="https://ideas-and-action.foleon.com/sc/borderlessbanking/borderless-business/" target="_blank" rel="noreferrer noopener">recent survey</a> of CFOs and senior finance leaders in Europe and Americas by Standard Chartered highlighted that growth outside of the home market is a key focus for companies right now. However, entering a new market is never an easy undertaking. Cultural differences, contrasting operational styles, and mismatched regulatory expectations often present significant challenges. These may be some of the reasons why US businesses do not rank Africa as highly as other regions. Just 13% of those surveyed listed Africa as a top three potential growth market and only 2% ranked it as their first choice. 



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="918" height="1024" src="https://cms.cnbcafrica.com/wp-content/uploads/2020/12/Jeremy-Amias--918x1024.png" alt="" class="wp-image-393043" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/12/Jeremy-Amias--918x1024.png 918w, https://cms.cnbcafrica.com/wp-content/uploads/2020/12/Jeremy-Amias--269x300.png 269w, https://cms.cnbcafrica.com/wp-content/uploads/2020/12/Jeremy-Amias--768x857.png 768w, https://cms.cnbcafrica.com/wp-content/uploads/2020/12/Jeremy-Amias--1377x1536.png 1377w, https://cms.cnbcafrica.com/wp-content/uploads/2020/12/Jeremy-Amias-.png 1513w" sizes="auto, (max-width: 918px) 100vw, 918px" /><figcaption>Jeremy Amias, Vice Chairman, Americas, Standard Chartered </figcaption></figure>



<h2 class="wp-block-heading" id="h-moving-in-the-right-direction">Moving in the right direction</h2>



Investors are cautious, despite the potential upside of investing in Africa. The ‘Africa Rising’ rhetoric is well known and the demographics speak for themselves: a young, dynamic workforce comprising over 20% of the world’s youth population, and a combined population predicted to reach 1.5 billion people by 2025. But alongside this, Africa also has a reputation as somewhere it is difficult to do business &#8211; indeed, only two African markets, Mauritius and Rwanda, currently feature in the Top 50 in the World Bank’s 2020 Ease of Doing Business rankings (although it is worth recognising that no Latin American nations feature in this group at all).



“Currently” is an important word to note here. We are on the cusp of large-scale change that could make accessing Africa a much more compelling proposition for US companies. Chief among them is the upcoming implementation of the African Continental Free Trade Area (AfCFTA). Launching in January 2021, the AfCFTA will be a single market with a population of 1.2 billion people and a combined GDP of over USD2 trillion according to the United Nations (although other sources estimate it could be as high as USD3.4 trillion). While its core focus is greater intra-Africa collaboration, the creation of this bloc will make the region as a whole more competitive and accessible to outside investors by ushering in wide-ranging reforms that improve transparency, reduce red tape, and simplify customs procedures.



Reforms in these areas should facilitate greater trade and investment opportunities between Africa and the rest of the world. Even before the AfCFTA comes into force, we have already seen the positive impact that greater transparency can deliver, and the trade corridors that can be opened up when higher standards are adopted. In February 2020, Namibia became the first country in Africa to export red meat to the United States, the result of more than fifteen years of negotiations over safety and logistics. Thanks to this landmark agreement &#8211; part of the African Growth and Opportunity Act (AGOA) &#8211; Namibia can now tap into the substantial and lucrative US export market, and can expect to see export volumes of beef climb from 860 tonnes this year to around 5,000 tonnes by 2025.



When bilateral arrangements of any kind are successful, they lay the groundwork for greater cooperation in the future. As formal negotiations continue between Kenya and the United States to create a bilateral Free Trade Area (in what would be the first such arrangement between the US and a country in sub-Saharan Africa), there are opportunities for the United States to build closer ties directly with particular African nations as well as the AfCFTA bloc as a whole.&nbsp;



As the saying goes, a rising tide lifts all boats. If the hoped-for reforms &#8211; whether they stem from the AfCFTA or bilateral agreements &#8211; can be implemented as planned in the coming months and years, the resulting improvements to ease of doing business should help endear the region to potential investors and create opportunities for African exporters and American importers alike.



<h2 class="wp-block-heading" id="h-from-mining-minerals-to-mining-data">From mining minerals to mining data</h2>



Trade corridors are only part of the story. Foreign Direct Investment also offers mutually beneficial opportunities for investors and industry looking to expand. Despite the pandemic, we have just seen the largest FDI investment into Africa to date when in July, Total SA announced USD14.9 billion of project financing for Mozambique LNG, the country’s first onshore liquified natural gas project. This deal included USD5 billion of financing from the Export Import Bank of the United States, alongside other Export Credit Agencies, 19 commercial banks, and the African Development Bank, and represents a resurgence in FDI flows into Africa which have remained largely muted since 2014.&nbsp;



Oil and gas, natural resources, and precious minerals have long been synonymous with Africa, but the continent represents much more than a supply of raw materials to be extracted. In recent years, many international corporates have recognised the value Africa has to offer when it comes to technology and innovation, from its young, tech-savvy population to its ability to leapfrog outdated infrastructure by moving straight to digital, as we have seen with mobile payments solutions such as M-PESA.&nbsp;



As Africa’s population soars in the coming decades, its emerging middle class will grow as well &#8211; an audience of consumers who will want and expect the same access to online services and connectivity enjoyed elsewhere in the world. The big players in global tech are already investing to capitalise on this growing audience and demand. On the infrastructure side, in South Africa, Microsoft has opened hyper-scale datacenters with a focus on cloud-based business innovation. Google is currently in the process of branching its Equiano underwater cable to extend connectivity to more countries across the West of Africa, while Facebook is building a 37,000km cable around Africa which aims to deliver almost three times the current subsea network capacity.



And investing in talent is also a key focus. Google’s Grow with Google and Digital Skills for Africa programmes aim to help young people develop skills in areas like data science and cloud computing. Microsoft has launched the Africa Development Center in Kenya and Nigeria which will see local engineering talent using data science, AI, and machine learning to drive innovation in sectors including FinTech and AgriTech. Facebook also has its sights set on Nigeria, with a new office planned to open in Lagos in 2021 to foster home-grown engineering talent and boost the company’s presence across sub-Saharan Africa.



<h2 class="wp-block-heading" id="h-building-for-the-future">Building for the future</h2>



The challenges we have seen in 2020 have demonstrated that companies need to become more resilient and take steps to better insulate themselves against potential shocks. A key part of that is ensuring that supply chains are more robust. The early stages of the coronavirus outbreak brought into sharp relief the need for a tangible alternative to China in particular as a supply base link and Africa is well-positioned to fill that gap, as well as being an area with a growing talent pool that will appeal to investors.



Although the improvements that we hope to see as a result of the AfCFTA and other reforms will not be realised overnight, it is worth noting that it also takes time to diversify a value chain, to establish a pipeline of talent, or to meet the needs of a new audience. If these things converge in the coming years, that may well give investors the reassurance they need to reconsider Africa as a growth market if not for today, then perhaps for the not too distant future.

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Reconsidering Africa as a potential growth market for US businesses

Improve financial controls and reduce the opportunities for fraud with Absa’s cash management team



Financial control is a critical business function. With corporate fraud increasing and difficulties introduced by remote working, it becomes even more important. “Financial control is a mechanism businesses can use to detect and prevent fraud,” says John Molanda, head of product innovation at Absa Transactional Banking’s&nbsp;cash management&nbsp;team.



Molanda says more than 60% of SA businesses have been victims of fraud over the past two years, according to the&nbsp;<a href="https://www.pwc.com/gx/en/services/forensics/economic-crime-survey.html" target="_blank" rel="noreferrer noopener">PwC 2020 Global Economic Crime and Fraud Survey</a>. “In most cases, fraud is committed by internal staff,” he says.



After fraud has been detected, companies need to investigate to identify and apprehend the criminal, litigate and try to recover stolen funds. But Molanda says this can cost as much as 10 times the amount of the original fraud, which for some businesses is prohibitive. Prevention is a better option.



Integrate and prevent fraud



One of the best ways to prevent fraud is to improve financial controls by integrating business accounting and banking systems. This can eliminate the weaknesses in traditional banking processes and remove opportunities for fraud.



Richard Stocken, head of cash management product at Absa Transactional Banking, says that as banks invest heavily in providing secure banking systems, the weakness remains at the point when payments are introduced to the banking system. Here, there are opportunities to manipulate supplier bank details so that money is paid into a fraudster’s account.



Stocken says while companies often respond to the risk of fraud by adding more controls, integrating the business’s banking system into their accounting system is a better option.



He gives the example of account verification, which is a quick way to make sure the bank account on an invoice belongs to the issuer of the invoice.



“We find this service is not used often because it sits outside the company’s system in the banking system,” Stocken says. This means staff have to log into the banking system to perform the account verification, and it’s difficult for a finance director to ensure that this is done for all account changes.



“Our advice would be to integrate the verification service directly into your accounting system so that at the time you are changing supplier details, incorrect banking details are automatically identified and fraudulent payments prevented.”



Molanda says business can also mitigate the risk of fraud by integrating payment functionality.



“There is a transition period between staff downloading payment files from their accounting system and uploading them into the banking system. Banking details can be changed in this transition period. If you integrate this functionality you remove the window of opportunity for fraud.”



Integration does more than prevent fraud



“Integrating and automating processes not only reduces vulnerabilities to fraud, it dramatically increases efficiency within a finance department,” Stocken says.



Absa’s cash management team recently worked with a client where the number of employee hours used to make about 1,000 payments each month was reduced from 180 to 30.



“We integrated their banking directly into their accounting system, reducing the number of hours needed and freeing up four of the five employees previously used in the payments process to focus on higher value-adding activities in the business.”



Importantly, Molanda says integration is not just for big businesses.



“Integration used to be difficult and costly, something only large companies with large IT departments could do. Through the evolution of technology such as APIs, the process has become a lot simpler and cheaper. We have invested significantly in API technology and can now offer our clients many integration opportunities.”



“<a href="https://www.absa.africa/media-centre/media-statements/2020/absa-collaborates-with-epic-erp-and-ajs-to-offer-digital-solutions/" target="_blank" rel="noreferrer noopener">Absa has also partnered</a>&nbsp;with different accounting systems and enterprise resource planning systems such as epic ERP and AJS to do the work of integrating so that we are able to offer the benefit to our clients without them investing as much time and capital as would previously have been necessary.”



This article was paid for by Absa CIB.

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Reduce fraud and improve efficiency with Absa’s digital cash management solutions

After generating US$32 billion in trade and investment deals in 2018, the Intra African Trade Fair (IATF) is back, with more unrivalled opportunities for businesses looking to reach new markets in Africa.



Now in its second edition, the IATF is the only pan-African, business-to-business, cross-sector trade fair. It serves as an ideal place for buyers and sellers to meet, make valuable business connections, and explore trade opportunities. As well as this, industry experts from across the continent will lead conference discussions to help guide your business to success.



The trade fair will be happening from 6 to 12 September 2021, in Kigali, Rwanda – a city known for its creative start-ups, tech hubs, and growing investment climate. For visitors who are unable to attend the event in person, there is also a year-round virtual marketplace that provides a convenient and cost-efficient way to source or showcase goods and services.



<h2 class="wp-block-heading" id="h-will-attending-benefit-you-and-your-business">Will attending benefit you and your business?</h2>



With a projected US$40 billion in trade and investment deals, over 1,100 exhibitors and 10,000 visitors from over 55 countries, the IATF2021 will be the biggest gathering of buyers and sellers on the continent.



The IATF facilitates meetings and networking opportunities with major African stakeholders (whether your clients are businesses, consumers or in government) – with many of them actively looking for the right business partnerships. With face-to-face networking sessions, a hosted buyers programme, and an online business match-making programme, the opportunity for meaningful networking can expand your reach into African markets.



The IATF also offers support to help finalise deals, so buyers, investors, entrepreneurs, and product manufacturers are more likely to meet the partners they need to expand.



As well as trade opportunities, attendees have the chance the learn. A rich and varied events programme at IATF2021 will feature leading African and international speakers to address the challenges affecting intra-African trade and offer practical and effective solutions. There will also be dedicated sessions and training workshops covering everything from exporting and standards to marketing.



<h2 class="wp-block-heading" id="h-what-to-expect-from-the-exhibition">What to expect from the exhibition</h2>



The fair gives exhibitors a direct route into a single African market of 1.2 billion people, giving you a chance to present your ideas, products or services to thousands of buyers and stakeholders from all over the African continent and beyond. There’s a lot of value on offer for exhibitors; they also get access to participant and press lists, with the option of contacting attendees (who have opted into communication) or scheduling meetings with journalists.



<h2 class="wp-block-heading" id="h-can-t-attend-or-exhibit-with-the-virtual-trade-fair-you-can">Can’t attend or exhibit? With the virtual trade fair, you can</h2>



For those who can’t travel to Rwanda, there’s a virtual space to exhibit and browse all year round. In an increasingly digital age, it’s important to provide a platform for businesses to connect with African markets without the need to travel. This innovative and cost-efficient platform allows you to promote, educate, and sell to a larger audience through virtual booths. Exhibitors and attendees can also engage via live text, audio, group, and one-on-one chat. The ‘networking lounge’ can be used to reach out to relevant business contacts, initiate private conversations, and join special interest groups.



The integrated online features of the fair really help to bring the physical experience into a virtual environment.



<h2 class="wp-block-heading" id="h-learn-more-at-the-conference">Learn more at the conference</h2>



Want to know how different sectors approach regulation challenges or what options to explore for funding your business growth?



This year, the focus of the conference is ‘Building Bridges for a Successful AfCFTA’, and discussions will centre around growth opportunities for intra-African cross-border trade and investments. Attendees will have a chance to gain industry knowledge and keep their businesses on the cutting edge. You can expect practical and reliable guidance on overcoming African trade challenges, no matter what stage your business is at or how big it is.



With investment at the core of the continent&#8217;s future growth, the conference aims to bring business owners and investors together to learn, share, and find collective solutions.



<h2 class="wp-block-heading" id="h-get-inspired-with-creative-africa">Get inspired with creative Africa</h2>



Of course, creativity is an important part of business and Africa is renowned for its creative minds. The IATF will host art and craft exhibitions that will inspire and excite you when you see how African art is changing cultural industries. There will be screenings of the latest blockbusters and independent gems, as well as filmmakers, artists, and craftspeople talking about their triumphs and challenges. Fashion designers (like Lilly Alfonso) will be showcasing their latest works at IATF2021, accompanied by daily catwalks in the exhibition area. Africa’s booming music industry will also take centre stage, with concerts featuring the most exciting performers from across the continent, plus Q&amp;A and signing sessions.



<h2 class="wp-block-heading" id="h-why-wait">Why wait?</h2>



In the wake of the COVID-19 health and economic crisis, there’s no better time for African businesses to connect and form strategic partnerships to build prosperity. The IATF is a unique and unmatched opportunity for your business to explore the vibrant and varied African business sector. Why wait when you can sign up today as an exhibitor or an attendee? <a href="https://www.intrafricantradefair.com/en">https://www.intrafricantradefair.com/en</a>

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Reach new African markets and grow your business with the IATF

Top things to look out for at AfricaCom and AfricaTech in 2020



The virtual Africa Tech Festival is fast approaching (09-12 November 2020) and with an exceptional line-up of speakers, content and discussion points like never before.&nbsp;



In advance of the events, the organisers have also opened up the platform to allow registered delegates, speakers and exhibitors the opportunity to familiarise themselves with the virtual real estate.&nbsp; This also affords those attending and participating, the prospect of pre-arranging meetings and setting up their viewing agendas.&nbsp;&nbsp;



Here are some of the key highlights to expect:



<h2 class="wp-block-heading">AfricaTech Festival</h2>



<p id="h-africa-tech-festival-is-the-new-name-for-a-week-of-world-class-tech-events-that-includes-africacom-the-home-of-connectivity-and-communications-africatech-the-home-of-it-and-enterprise-digital-transformation-the-ahub-unleashing-the-power-of-africa-s-tech-start-up-ecosystem-accelerateher-africa-addressing-the-underrepresentation-of-women-in-technology-and-video-exchange-africa-being-virtual-has-afforded-organisers-the-ability-to-arrange-a-superb-line-up-as-well-as-making-the-event-infinitely-more-accessible-to-participants-and-delegates-within-africa-and-beyond"><a href="https://bit.ly/3oPnb0t">Africa Tech Festival</a> is the new name for a week of world-class tech events that includes AfricaCom the Home of Connectivity and Communications),&nbsp;AfricaTech (the home of IT and Enterprise Digital Transformation); the AHUB (unleashing the power of Africa&#8217;s Tech Start-Up Ecosystem; accelerateHER Africa&nbsp;(addressing the underrepresentation of women in technology) and&nbsp;Video Exchange Africa.&nbsp;Being virtual, has afforded organisers the ability to arrange a superb line-up, as well as making the event infinitely more accessible to participants and delegates within Africa and beyond.



<h2 class="wp-block-heading" id="h-the-africa-tech-festival-headliners">The Africa Tech Festival Headliners</h2>



Featuring Africa&#8217;s most prominent digital thought-leaders from organisations including&nbsp;Safaricom,&nbsp;MTN, International Trade Centre, United Nations Economic Commission for Africaand more, the&nbsp;<a href="https://tmt.knect365.com/africa-tech-festival/speakers/">Africa Tech Festival Headliners</a>&nbsp;will share their insights on the most important topics in African technology, telecommunications and innovation.&nbsp;



<ul class="wp-block-list"><li>Siya Kolisi, co-Founder, Kolisi Foundation</li><li>Stella Ndabeni-Abrahams, Minister of Communications and Digital Technologies, Republic of South Africa</li><li>Shameel Joosub, Group CEO, Vodacom</li><li>Lillian Barnard, Managing Director, Microsoft South Africa</li><li>Charles Molapisi, Group Chief Technology &amp; Information Officer, MTN</li><li>Alioune Ndiaye, CEO, Middle East and Africa, Orange</li><li>Pinky Kekana, Deputy Minister of Communications and Digital Technologies, Republic of South Africa</li><li>Peter Ndegwa, Chief Executive Officer, Safaricom</li><li>Yolanda Cuba, Group Chief Digital and Fintech Officer, MTN</li><li>Professor Tshilidzi Marwala, Deputy Chair, Presidential 4IR Commission</li><li>Alice Munyua, Director, Africa Innovation and Public Policy, Mozilla</li><li>Nenzeni Babs Duma, CIO, WesBank</li><li>Nitin Gajria, Director &#8211; Sub-Saharan Africa, Google</li><li>Izabela Milewska, Digital Skills Global Leader, Amazon Web Services</li><li>Bob Skinstad, Former Springbok Captain and World Cup Winner, Partner, Knife Capital</li><li>Sandra La Bella, Group CIO, Alexandre Forbes</li><li>Emmanuel Lubanzadio, Head of Public Policy for Sub-Saharan Africa, Twitter</li><li>Kojo Boakye, Director, Africa Public Policy, Facebook</li><li>Pamela Coke-Hamilton, Executive Director at International Trade Centre</li><li>Dejan Kastelic, Group Chief Technology Officer, Vodacom.</li></ul>



AI-Powered Networking



Registered delegates will have access to the platform, whose AI networking tool matches them with other attendees and sessions most relevant to their interests &#8211; making it even easier to make valuable connections. Delegates, exhibitors and speakers can be contacted using live chat or video calls as well as in-app messaging.



<ul class="wp-block-list"><li>Own Agenda Design</li></ul>



There are over 20 different tracks and features, which can be accessed, allowing delegates to shape an agenda that matches their specific&nbsp;content needs and deep dive into the particular topics that are of the most interest.



<ul class="wp-block-list"><li>Virtual Exhibitions</li></ul>



The Virtual Exhibition Areas are the place to find out what&#8217;s hot in digital Africa. &nbsp;Global solution providers can be visited at their stands and the latest tech can be discovered in the product gallery, or even attend live demos.



<ul class="wp-block-list"><li>Video Exchange Africa</li></ul>



<a href="http://mail2.knect365.com/c/1YlvRJbCRxQ6zvTerb2D0bgKrRzq">Video Exchange Africa</a>&nbsp;is at the heart of video distribution and content strategy in Africa, gathering the most influential players across telco, broadcast and OTT to develop commercial models for monetising content across digital Africa.



<ul class="wp-block-list"><li>On-Demand Content</li></ul>



Registered delegates can also access the event platform for&nbsp;90 days post event, meaning they can watch all the event content on-demand at a time that suits them, allowing even more time to network during the actual live event.



<ul class="wp-block-list"><li>Virtual Boardroom Sessions</li></ul>



Sn all-access pass gives entry to virtual boardroom sessions, allowing premium delegates the ability to discuss key technologies and topics in smaller group settings.



<ul class="wp-block-list"><li>Mission Critical Technologies</li></ul>



<a href="http://mail2.knect365.com/c/1YlvSXa2DV9yFuUSEve78l41o1Ph">Mission Critical Technologies Africa</a>&nbsp;is co-located with AfricaCom. Expect a dedicated conference track, control room site visits and dedicated networking for anyone involved in public safety, transportation, utilities and defence.



<ol class="wp-block-list" type="1"><li>Deep Dives into Healthcare as well as Banking and Financial Services are on offer along with a series of key tracks that include:</li><li>5G Africa</li><li>Data Centres Africa</li><li>Artificial Intelligence Africa</li><li>AfricaTech Centre Stage</li><li>Fintech Africa</li><li>Future of Work</li><li>Africa 50 Innovation Challenge</li><li>Blockchain Africa, and</li><li>IoT Africa</li></ol>



Although this is a digitally driven event, some of the world’s best organisations involved in connecting Africa’s next billion, will also be setting up shop in online exhibition booths, and which, due to the sophistication of the conferencing platform, will engage in AI-powered networking, to ensure that progress on the continent, in terms of its digital migration, along with demos and product launches, can continue despite global lockdowns. &nbsp;To discover the full line-up and plan your agenda, visit the <a href="https://bit.ly/3oPnb0t">Africa Tech Festival website.</a>



To register for a FREE virtual pass to the Africa Tech Festival – click <a href="https://bit.ly/34hqmVn">HERE</a>



For further information please visit the 2020 <a href="https://bit.ly/3oPnb0t">website</a>



About virtual Africa Tech Festival:



Virtual Africa Tech Festival, including AfricaCom and AfricaTech, is part of the Informa Tech Connecting Africa event series, now in its 24th year. A vibrant celebration of Africa’s diverse community of tech champions, Africa Tech Festival is the largest tech and digital connectivity conference and exhibition in Africa, attracting 450 exhibitors and 15,000 attendees in 2019. Key themes for 2020 include 4IR for Africa, Connecting the Next Billion, Digital Infrastructure Investment, Tech for Good, ICT Policy and Regulation, the Future of Work and Talent and Skills Development. Africa Tech Festival also incorporates the AHUB, accelerateHER Africa and the AfricaCom Awards.

Collage – tech

Africa Tech Festival 2020

By Kennedy Mubita, Africa Head, SC Ventures.



Imagine a bank whose customers can tap on a wearable device to make a payment, regularly receive updates on changes they could make to their investment portfolio through AI-generated insights. A bank that enables its customer to own their data through the application of blockchain technology and share it with lenders as a validated credit history when applying for a loan anywhere; that bank is likely to remain fully operational for the long term.



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1053" height="1024" src="https://www.cnbcafrica.com/wp-content/uploads/2020/10/Mubita_StanChart_-1053x1024.jpg" alt="" class="wp-image-384243" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/10/Mubita_StanChart_-1053x1024.jpg 1053w, https://cms.cnbcafrica.com/wp-content/uploads/2020/10/Mubita_StanChart_-300x292.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2020/10/Mubita_StanChart_-768x747.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2020/10/Mubita_StanChart_-1536x1494.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2020/10/Mubita_StanChart_-scaled.jpg 2048w, https://cms.cnbcafrica.com/wp-content/uploads/2020/10/Mubita_StanChart_-150x146.jpg 150w, https://cms.cnbcafrica.com/wp-content/uploads/2020/10/Mubita_StanChart_-696x677.jpg 696w, https://cms.cnbcafrica.com/wp-content/uploads/2020/10/Mubita_StanChart_-1068x1039.jpg 1068w, https://cms.cnbcafrica.com/wp-content/uploads/2020/10/Mubita_StanChart_-1920x1868.jpg 1920w" sizes="auto, (max-width: 1053px) 100vw, 1053px" /></figure>



According to a PWC global CEO survey, 70% of financial services leaders stated that the speed of technological change is one of their biggest concerns. Clients demand more convenience and customization from their banks, delivered through technology-driven innovation. This trend will accelerate as other industries digitize, allowing microservices to be monetized. New technologies are tooling up non-traditional players such as Neobanks, mobile network operators, e-commerce platforms, and supermarkets with the means to tokenize exchange and intermediate supply chains exclusive of traditional banks. These new entrants in the financial sector are a competitive threat to conventional regulated players. For banks to survive and win in this new paradigm, they will need to adopt technology-driven business models; they must develop an internal culture that is tech-minded, encourage idea generation and execution across all departments. But change doesn&#8217;t happen in a vacuum. For impactful transformation, banks will need to involve their clients, employees, and communities to build solutions that meet evolving needs across a broad social spectrum.



<h2 class="wp-block-heading" id="block-d9e40c66-0eb2-4045-87e9-681a4dc39903">Collaboration is a crucial ingredient</h2>



Digital transformation can only be optimal through a collaborative effort by partnerships with the clients, the Fintech community, regulators, service providers, and other financial services providers applying digital tools to meet their financial goals. Hence, we see traditional banks partnering with FinTechs, MNO&#8217;s, and digital marketplaces by design or necessary survival. These alliances are symbiotic in that the Fintechs see three evolving challenges. First, as they build new digital business models, their activities are becoming economically significant; hence the Central Bank, other regulators, and Governments are getting concerned about potential downside credit and systemic risks. Their days of minimal or no regulatory oversight are coming to an end. Secondly, traditional banks are not sitting back and are beginning to incorporate digital solutions in their processes and strategies. Thirdly, at scale, traditional banks still dominate the sovereign, corporate finance, and long-term lending markets.



On the other hand, while banks lack agility and sufficient qualified and digitally literate managers, they have trusted compliance capabilities. They are accustomed to the regulatory minefield and can help FinTechs navigate that space. Partnerships with banks lend credibility to the Ventures they participate, and in so doing, there is a reverse transfer of skills from the banks to FinTechs. Banks can &#8220;stand in the gap&#8221; between Regulators and FinTechs interpreting the use of new technologies to address regulatory concerns. For instance, Financial institutions can address the issue around authenticating a person&#8217;s human identity when opening an account through the internet of things (IoT) and artificial intelligence (AI). These technologies use various metrics, including location services, user image movement, facial recognition, and temperature checks, to determine whether the person operating the device is an actual human.



Standard Chartered recognizes that technology-driven enablement and partnerships can facilitate the resolution of challenges facing various sectors. For example, small and medium-sized enterprises require access to finance, markets, and simple digital business efficiency tools. Guided by this, SC Ventures, a Standard Chartered business unit, was set up to promote innovation, invest in disruptive financial technology, and explore alternative business models. The business unit provides a platform for collaboration with Fintech, clients, and partners across our markets, connecting them to staff and SCB departments as appropriate.



In Africa, we leverage digital capabilities to resolve social challenges and accelerate economic growth for different market segments. For instance, in Kenya, SC Ventures is currently piloting a digitized and automated water infrastructure system for a water and sanitation company. The Internet of Things-enabled smart water meter solution will reduce leakages, improve revenue collection, provide a platform for remote connections management while aiding in reducing operations and maintenance costs.



SC Ventures at Standard chartered is committed to working with local and global financial technology players who are innovating and developing curated products for these underserved or unbanked market segments that were erstwhile, not reachable due to lack of infrastructure and digital platform.



The community of stakeholders in financial services sectors and other industry verticals enabled by the 3rd and 4th industrial revolution technologies creates a global data lake that will be a massive enabler of innovation in the financial services sector. By gaining API access to various data sources, banks can create customized solutions for different clients across the region. Digital access will minimize direct contact with banks. Soon, data portability, possibly using distributed ledger technology (DLT) through data banks, will allow customers to use their data as an asset by being part of a community or use it to receive bespoke services.



The future of finance is commoditized services on a network of data connected to value; this enabled by ever-increasing research and technology advancements such as 5G and quantum computing. These tools will vastly change the financial ecosystem, and banks that evolve quickly will be better positioned not only to survive but to thrive.

Disruptive digital solutions is rewiring the DNA of Banking

By Kariuki Ngari, CEO &amp; Managing Director, Standard Chartered, Kenya &amp; East Africa



COVID-19 has upended the social and economic systems and many sectors have experienced major operational and tactical shifts. The pandemic has accelerated digital integration in many sectors; Financial Services and Banking wasn’t left behind with clients demanding to see a level of technological integration that will allow them to continue operating by accessing their accounts uninterrupted. This shift is likely to drive expectations going forward. The change, though rapid, has been easier on agile Organisations that had already incorporated technology in their processes; allowing them to quickly scale up to meet client demand for tech led solutions.<a> </a>Conversely, institutions that were slow adopters of technology have had their digitization process accelerated in the past year. In the banking sector for example, the traditional legacy banking model status quo has been challenged by consumer bias towards digital solutions coupled with the safety measures imposed by the government. This has led to an increase in clients transacting digitally as opposed to transactions in traditional platforms like the branch.



Feeding into this digital shift, is the upsurge of Fintechs in the Kenyan market, on the back of increased adoption of mobile money services.&nbsp; The Fintech revolution in the country has challenged and transformed the banking ecosystem allowing for greater innovation in payments, credit and savings products. Further grounded by an enabling environment, Fintechs have found a fertile environment for growth, supported by a growing digitally savvy and financially literate middleclass. It is clear that Fintechs will play a significant role in advancing economic growth and enhancing financial inclusion in the region.



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="683" height="1024" src="https://www.cnbcafrica.com/wp-content/uploads/2020/10/MSM6202-683x1024.jpg" alt="" class="wp-image-384244" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/10/MSM6202-683x1024.jpg 683w, https://cms.cnbcafrica.com/wp-content/uploads/2020/10/MSM6202-200x300.jpg 200w, https://cms.cnbcafrica.com/wp-content/uploads/2020/10/MSM6202-768x1152.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2020/10/MSM6202-1024x1536.jpg 1024w, https://cms.cnbcafrica.com/wp-content/uploads/2020/10/MSM6202-scaled.jpg 1365w, https://cms.cnbcafrica.com/wp-content/uploads/2020/10/MSM6202-150x225.jpg 150w, https://cms.cnbcafrica.com/wp-content/uploads/2020/10/MSM6202-300x450.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2020/10/MSM6202-696x1044.jpg 696w, https://cms.cnbcafrica.com/wp-content/uploads/2020/10/MSM6202-1068x1602.jpg 1068w, https://cms.cnbcafrica.com/wp-content/uploads/2020/10/MSM6202-1920x2880.jpg 1920w" sizes="auto, (max-width: 683px) 100vw, 683px" /></figure>



Many arguments have been made regarding the role of Fintechs and Banks; whether they are competing or collaborating. At Standard Chartered we believe collaboration is the only way to go. SC Ventures &#8211; an innovation hub that serves as a platform to collaborate with Fintechs in Kenya and the broader African region, has helped us develop new business models and services that meet the needs of our current and future clients. By allowing FinTech’s to undertake a Proof of concept( POC) in a controlled environment, we can be able to test ideas before launching to the wider consumers – This platform has allowed the Fintechs with good ideas to compete and have a platform to test them and also importantly for the Bank to learn more about innovation.



It is clear that tech innovation in the Financial Sector has numerous advantages; we also need to be cognizant of the challenges it poses. Tech provides transactional ease but also carries the risk of depleting the human touch and increased cyber in-security. To mitigate this, we in the Financial Sector need to utilize technology to optimize customer engagement and satisfaction. We should also use the most up to date security technologies to protect client and users of digital services for it is only when clients and customers are confident on the security of their funds or access will they continue adopting technology for everyday use.



By leveraging tech to gather data and derive insights, banks are better placed to provide a customized experience that caters to specific client’s need. When clients feel that we understand them, they are less likely to demand a human interaction all the time but only for the most complex of financial matters.



<h2 class="wp-block-heading" id="h-the-future-of-work">The future of work</h2>



As Financial institutions build agile systems for digital innovation, transitioning into new ways of working will be an integral part of the digital transformation journey. &nbsp;COVID-19 has seen most banks transition their employees to remote working &#8211; a move that has unearthed the need for effective collaboration tools, improved network capacity and strong security solutions.



A critical part of this being data security. In the age of big data, brand trust is hedged upon high data privacy and security. With large amounts of client data, Financial Institutions must invest in the right infrastructure to protect the organization’s assets. With internet fraud on the rise, strict monitoring systems are a non-negotiable. This will have to be complemented with absorption of the right talent and implementation of strict security protocols to ensure ongoing cyber security.



<h2 class="wp-block-heading" id="h-the-future-of-banking">The future of banking</h2>



As economies gradually open up, it is expected that the number of transactions will increase, albeit slowly. More than ever there will be increased demand for convenient and efficient banking solutions. To meet this demand, organizations that invest in digital technologies will be better positioned for growth.



Further, innovation will be central to growth and strategic collaborations and partnerships in the sector will help advance an integrated digital banking ecosystem.



At Standard Chartered, we’ve seen an increased appetite for banks with diversified and integrated networks backed by efficient digital platforms. Since 2018, the Bank has heavily invested digital solutions a cross Retail, Commercial and Corporate Banking. Our award winning fully digital retail bank, now operational in 9 countries across the Africa continent, allow our clients to open an account, transact, invest and protect their wealth. With over 70 services available on the platform, our clients are also able to buy insurance, trade in government bonds and invest in some of the most competitive mutual funds across the globe. By continuously incorporating client feedback in product development and aligning with different partners to solve for client needs, we have seen a huge uptake and utilization of our digital platforms, a clear indication that integration is fundamental for consumers across the continent.



COVID-19 brought about an unprecedented crisis and shook up most business continuity plans. Banks that will thrive will be those that will set up new systems and structures that are consumer led. Local banks have the capacity and resources to build innovative and sustainable economies- all we have to do is adapt and disrupt.

Double exposure man working on laptop computer using smart phone and smart city, internet application on phone and computer devices, start up business, software development, internet of things concept

The future of banking; digitization and collaboration as growth accelerants

<h1 class="wp-block-heading" id="h-springbok-captain-siya-kolisi-to-join-industry-luminaries-at-africacom-and-africatech">Springbok Captain, <a href="https://tmt.knect365.com/africa-tech-festival/speakers/siya-kolisi/">Siya Kolisi</a> to join industry luminaries at AfricaCom and AfricaTech</h1>



London, 14 October 2020 – AfricaCom and AfricaTech are anchor events of the new <a href="https://bit.ly/3iYlcTm">Africa Tech Festival,</a> which will take place – online – from 10-12 November this year.&nbsp; Acknowledged as the world’s largest Africa-focused digital infrastructure and emerging tech event, the Africa Tech Festival has always attracted a stellar line-up of critical thinkers, analysts, futurists, keynote and inspirational speakers. 2020 will more than deliver on that reputation, with a stimulating array of visionary industry presenters, raconteurs and even some sporting greats.



<a href="https://bit.ly/3iYlcTm">Register here to attend the event.</a>



Below are just some of the more than 200 speakers who will be at this year’s not to be missed, virtual event.



<h2 class="wp-block-heading" id="h-connectivity-champions">Connectivity Champions:</h2>



<ul class="wp-block-list"><li><a href="https://tmt.knect365.com/africa-tech-festival/speakers/peter-ndegwa-1/">Peter Ndegwa</a>, CEO, Safaricom</li><li><a href="https://tmt.knect365.com/africa-tech-festival/speakers/alioune-ndiaye-2/">Alioune Ndiaye</a>, CEO &#8211; Middle East and Africa, Orange</li><li><a href="https://tmt.knect365.com/africa-tech-festival/speakers/juliet-mhango/">Juliet Mhango</a>, Chief Human Capital Development &amp; Transformation Officer, Cell C</li><li><a href="https://tmt.knect365.com/africa-tech-festival/speakers/dejan-kastelic/">Dejan Kastelic</a>, Group Chief Technology Officer, Vodacom</li><li>Elisabeth Medou Badang, SVP Africa &amp; Indian Ocean, Orange</li><li><a href="https://tmt.knect365.com/africa-tech-festival/speakers/sonia-jorge-1/">Sonia Jorge,</a> Executive Director &#8211; Alliance for Affordable Internet &amp; Head of Digital Inclusion Program at The World Wide Web Foundation</li><li>Olusola Teniola, President, Association of Telecommunications Companies of Nigeria.&nbsp;</li></ul>



<h2 class="wp-block-heading" id="h-forefront-of-the-4ir">&nbsp;Forefront of the 4IR:</h2>



<ul class="wp-block-list"><li><a href="https://tmt.knect365.com/africa-tech-festival/speakers/prof-tshilidzi-marwala/">Prof. Tshilidzi Marwala</a>, Vice-Chancellor of the University of Johannesburg, Deputy Chair at the Presidential 4IR Commission (South Africa)</li><li><a href="https://tmt.knect365.com/africa-tech-festival/speakers/unathi-mtya-2/">Unathi Mtya</a>, Chief Technology Officer at Grindrod Bank</li><li><a href="https://tmt.knect365.com/africa-tech-festival/speakers/toyosi-odukoya-1/">Toyosi Odukoya</a>, Head of Digital Transformation, West Africa, the Coca-Cola company</li><li><a href="https://tmt.knect365.com/africa-tech-festival/speakers/moustapha-cisse/">Moustapha Cisse</a>, at the African institute of Mathematical Sciences; head of AI centre, Google</li><li><a href="https://tmt.knect365.com/africa-tech-festival/speakers/nitin-gajria-1/">Nitin Gajria</a>, Director &#8211; sub-Saharan Africa, Google</li><li><a href="https://tmt.knect365.com/africa-tech-festival/speakers/kojo-boakye-2/">Kojo Boakye</a>, Director, Africa Public Policy, Facebook</li><li><a href="https://tmt.knect365.com/africa-tech-festival/speakers/nomso-kana-2/">Nomso Kana</a>, Governor, Nuclear Energy Foundation Agency, nuclear scientist, Presidential 4IR Commissioner</li><li><a href="https://tmt.knect365.com/africa-tech-festival/speakers/emmanuel-lubanzadio/">Emmanuel Lubanzadio</a>, Head of Public Policy sub-Saharan Africa, Twitter</li><li>Atsushi Yamanaka, Chief Advisor, Rwanda ICT Innovation Ecosystem Strengthening Project.&nbsp;</li></ul>



These industry leaders will also be joined this year by some of the continent’s most inspirational personalities and sporting greats.&nbsp;



That technology can have a huge positive impact on addressing all manner of challenges, including very real basic human needs, goes without saying.&nbsp; However, caught up in the daily grind or only having the big picture in mind, consideration for those less fortunate for whom technology could literally be life or death, can often be disregarded.



When it comes to being inspiring, look no further than <a href="https://tmt.knect365.com/africa-tech-festival/speakers/karen-smit-1/">Karen Smit</a>, Principal Specialist: Specific Needs at Vodacom, <a href="https://tmt.knect365.com/africa-tech-festival/speakers/bernard-chiira/">Bernard Chiira</a>, Director, Innovate Now, Global Disability Innovation Hub and <a href="https://tmt.knect365.com/africa-tech-festival/speakers/shannon-smuts-brauer/">Shannon Smuts Brauer,</a> Founder &amp; CEO at Pure Good Food, who has been shortlisted for the Jack Ma Foundation’s Africa Netpreneur Prize Initiative’s Africa’s Business Heroes Competition 2020. They are joined by a number of other equally motivating presenters, such as <a href="https://tmt.knect365.com/africa-tech-festival/speakers/rapelang-rabana/">Rapelang Rabana</a>, founder and CEO of Rekindle Learning, who will share their experiences and punctuate just how telecommunications and technology can, and is, providing a helping a hand to those who need it.



For truly extraordinary achievements and enthralling stories, delegates will have the opportunity to tune into some of the continent’s (even the world’s) most remarkable humans who have put it all on the line and lived to tell the tale.



A man who needs very little introduction though, particularly in South Africa, and who will no doubt attract an eager audience, is <a href="https://tmt.knect365.com/africa-tech-festival/speakers/siya-kolisi/">Siya Kolisi</a>, Springbok rugby captain who led the team to their latest World Cup victory.&nbsp; Considered one of the continent’s ‘Most Influential Africans’, Siya will be on screen with his wife and co-Founder, <a href="https://tmt.knect365.com/africa-tech-festival/speakers/rachel-kolisi/">Rachel</a>, to discuss the launch their Kolisi Foundation – heart in one project.&nbsp; The Kolisi’s will share how one by one, everyone can make a difference.



<a href="https://tmt.knect365.com/africa-tech-festival/speakers/chris-bertish/">Chris Bertish</a>, adventurer at Mavericks Big Wave champion, SUP Trans-Atlantic paddler and Guinness World Record holder….. Defying all odds, he navigated 4660 mi (7500 km) solo, unsupported and unassisted for 93 days, across the Atlantic Ocean from Morocco, Africa to the Caribbean Island of Antigua. The Stand-Up-Paddle (SUP) Crossing was an unparalleled global feat, which also raised money and awareness for conservation and to helped disadvantaged children in Africa, through the Lunchbox Fund and Operation Smile.



“If you change the way you look at things, the things you look at will change,” comments <a href="https://tmt.knect365.com/africa-tech-festival/speakers/hein-wagner/">Hein Wagner</a>, Global Adventurer, and Founder at Hein Wagner Academy, who was born blind.&nbsp; This has not prevented this in demand motivational speaker from living life to its fullest at all, as he’s competed in triathlons, marathons, the Cape Argus Cycle Tour, the Cape Epic, even participating in a yacht race – across the Atlantic Ocean. Hein is deeply connected to nature, with a keen interest in climate change, and is actively engaged in inspiring those around him to take note.&nbsp; He uses technology on a daily basis, for example, an artificial intelligence (AI) app that helps him ‘see’, by vocally describing the object or person Hein points his phone at.&nbsp;



Going virtual in 2020, presents an excellent opportunity for a wider audience to connect with these speakers and the exceptional content these events are known for year on year.&nbsp; All that is required to feel inspired, is an internet connection to join a community that is actively shaping Africa’s digital future.



To register for a FREE delegate pass – click <a href="https://bit.ly/3iYlcTm">HERE</a>



For further information please visit the 2020 <a href="https://tmt.knect365.com/africacom/">website</a>



Media accreditation is now open: <a href="https://registration.gesevent.com/survey/06t0kg4kkf2ei">https://registration.gesevent.com/survey/06t0kg4kkf2ei</a>



For other media enquiries, interviews and/or images please contact:&nbsp; Kaz Henderson&nbsp;<a href="mailto:kaz@networxpr.co.za">kaz@networxpr.co.za</a>&nbsp;or call on +27 (0) 82&nbsp;339 1199.&nbsp; Please note that media registration will open next week.&nbsp;



About AfricaCom and AfricaTech 2020



Virtual Africa Tech Festival, including AfricaCom and AfricaTech, is part of the Informa Tech Connecting Africa event series, now in its 24th year. A vibrant celebration of Africa’s diverse community of tech champions, Africa Tech Festival is the largest tech and digital connectivity conference and exhibition in Africa, attracting 450 exhibitors and 15,000 attendees in 2019. Key themes for 2020 include 4IR for Africa, Connecting the Next Billion, Digital Infrastructure Investment, Tech for Good, ICT Policy and Regulation, the Future of Work and Talent and Skills Development. Africa Tech Festival also incorporates the AHUB, AccerlateHER Africa and the AfricaCom Awards.

4IR Fourth industrial revolution on ultraviolet background

Star Quality Speaker Line-Up at Africa Tech Festival 2020

By Olga Arara-Kimani, Regional Head, Corporate Affairs and Brand &amp; Marketing



<h2 class="wp-block-heading" id="h-introduction">Introduction</h2>



Mobilising support for female entrepreneurs is a necessary factor in improving livelihoods and transforming the global economy. Studies have shown that, if female entrepreneurs received as much support as their male counterparts, the global economy could experience a boost of $5 trillion<a href="#_ftn1">[1]</a>.&nbsp;



However, the sobering reality is that not enough is being done to enable female start-ups to thrive.



According to the World Economic Forum’s (WEF) <a href="https://www.weforum.org/reports/gender-gap-2020-report-100-years-pay-equality" target="_blank" rel="noreferrer noopener">2020 Gender Gap Report</a><a href="#_ftn2">[2]</a>, women’s economic empowerment is actually worsening, estimating that closing the gender gap in economic participation and opportunity is now 257 years away. This is 55 years longer than what was reported in 2019.



Africa is the only region globally where more women choose to become entrepreneurs than men. However, despite this startling statistic, nowhere near enough is being done to support these females who are determined to establish successful companies. Many face significant obstacles and structural inequalities, with over half of female entrepreneurs citing a lack of financing and limited access to technology in preventing them to scale their businesses.



<h2 class="wp-block-heading" id="h-an-unequal-playing-field-for-women">An unequal playing field for women</h2>



Small businesses already have a hard time securing financing, but this funding gap is more pronounced when it comes to female entrepreneurs. The African Development Bank estimates a $42 billion funding gap for women entrepreneurs across the African continent. This gap exists at various levels of entrepreneurial funding – including bank loans, angel investment, venture capital and private equity – despite there being more female entrepreneurs in sub-Saharan Africa than men.



The WEF Gender Gap report states that women cite lack of access to finance as the largest obstacle to entrepreneurship, by far. When we take a closer look at tech start-ups, only two percent of $725.6 million in venture capital funding was invested in women-owned (or led) businesses in Sub-Saharan Africa throughout 2018. This is astounding when research<a href="#_ftn3">[3]</a> has shown that if female-led businesses are supported, be it through mentoring or financial support, they outperform their male counterparts, achieving higher revenues and offering a 35 percent return on investment.



Yet, the issue that we have witnessed with female entrepreneurs is two-fold: not enough financial support is available, and women often lack access to networks and mentorship. Time and time again, studies have shown that having access to a strong network is a critical element in the long-term success of female-led businesses. The Harvard Business Review<a href="#_ftn4">[4]</a> found that stronger and broader networks are linked to smaller gender gaps in business sustainability and improved access to a wide variety of funding sources.



In order to support female entrepreneurs, we must look at tackling both elements to incite real change, from empowering females to believe in their ideas through a positive network to providing them with the financial capabilities to grow a sustainable business.



At Standard Chartered, we decided to tackle these inequalities head on with our Women in Tech Programme (WiT). Running across five markets in Africa and the Middle East, WiT provides women-led start-ups with a platform to grow their business and support their aspirations. Since its initial launch in Kenya in 2017, we have seen continuous growth of female entrepreneurs coming through the accelerator programme, with the bank providing over $500,000 to various programme cohorts in markets including Nigeria, Pakistan, Bahrain and the UAE. Along with financial backing, we provide training, mentoring and access to a wider network of other companies for these entrepreneurs. In just over three years, WiT has become one of the continent’s leading women in technology incubators, aligning with calls for more diversity in technology and providing more opportunities for women to develop entrepreneurial and leadership excellence.



We recognise that there is a growing tech ecosystem across the continent and that many start-ups are embracing the benefits of technology. WiT is a unique programme in that it not only addresses two of the key problems facing female entrepreneurs, but also tackles the digital-gap many female-led entrepreneurs experience. It’s not surprising that most female entrepreneurs we encounter through the programme want or are using technology to grow their business. &nbsp;



A prime example of a digitally savvy WiT cohort member is Bismart Insurance, a web insurance aggregator based in Kenya. Channelling a solution-oriented shift to digital, Bismart Insurance was set up to address and resolve <a href="https://www.nation.co.ke/lifestyle/saturday/Eunice-Maina-Bismart-Insurance/1216-4238896-4poy9v/index.html" target="_blank" rel="noreferrer noopener">key pain points</a>&nbsp;customers faced when purchasing insurance, including a lack of disclosure of essential information and the absence of a consolidated platform for insurance products. Coupled with its participation in the first WiT Kenya cohort and vision to expand into the digital insurance market, Bismart Insurance efficiently scaled its operations and saw over 100 purchasers by the end of 2017.



We have seen a surge in start-ups that are looking to expand their businesses through eCommerce and digital channels take part in the accelerator programme. The WiT programme is a demonstrated contributor to start-ups with promising business models, leveraging its breadth of expertise and resource to drive and scale their operations. Chief of these start-ups is Chefaa, an Egyptian, AI-powered digital platform that enables chronic patients to order, schedule and refill their recurring medications regardless of location or income. Chefaa participated in the WiT MENA cycle in 2019 and has, to date, raised over $6 million in funding and is in the process of closing an additional $2.5 million in funding. Chefaa is now the second most downloaded application on the Egyptian App Store and the company has subsequently increased their monthly orders by 300 percent since taking part in the WiT programme.



<h2 class="wp-block-heading" id="h-conclusion">Conclusion</h2>



Despite unfavourable conditions, female entrepreneurs have been fighting their way to the top through increased support from international organisations, local governments, and corporate sponsors. However, adjusting attitudes towards female entrepreneurs in&nbsp;Africa&nbsp;is essential and this is something that we must build on through our networks.



It is also crucial to identify and support policy changes that can facilitate the development of female-led businesses. This is where private sector plays a vital role in providing the necessary training, mentorship, and seed funding that would otherwise be difficult to receive elsewhere. As female-led businesses provide an important flow of capital for local communities, every effort should be made to support and grow these businesses, in service of countless families and communities throughout Africa. Most importantly, we need to inspire girls and young female adults with a business dream to have the confidence to make it happen and know that they will be aided both financially and socially.



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



<ul class="wp-block-list"><li><a href="#_ftnref1">[1]</a> <a href="https://www.forbes.com/sites/janicegassam/2019/08/08/new-research-finds-that-supporting-female-entrepreneurs-could-boost-global-economy-by-5-trillion/#632a65ba67be">https://www.forbes.com/sites/janicegassam/2019/08/08/new-research-finds-that-supporting-female-entrepreneurs-could-boost-global-economy-by-5-trillion/#632a65ba67be</a></li><li><a href="#_ftnref2">[2]</a> <a href="https://www.weforum.org/reports/gender-gap-2020-report-100-years-pay-equality">https://www.weforum.org/reports/gender-gap-2020-report-100-years-pay-equality</a></li><li><a href="#_ftnref3">[3]</a><a href="https://www.bcg.com/publications/2018/why-women-owned-startups-are-better-bet">https://www.bcg.com/publications/2018/why-women-owned-startups-are-better-bet</a></li><li><a href="#_ftnref4">[4]</a> <a href="https://hbr.org/2019/10/the-trillion-dollar-opportunity-in-supporting-female-entrepreneurs">https://hbr.org/2019/10/the-trillion-dollar-opportunity-in-supporting-female-entrepreneurs</a></li></ul>

Leveling the playing field for female entrepreneurs in Africa

The theme for October Transport Month 2020 is Smart Mobility.  Smart Mobility is an innovative way of getting around. it is the use of various transport modes that are smarter, cleaner, safer and integrated. It is about using technology to respond to the modern commuter’s needs such as the demand for convenience, access to information at all times, a high tech-adoption rate, time and cost savings and increasing environmentally consciousness with various benefits. 



The Gautrain is a smart mobility mode of transport as it provides a smart, clean, safe and integrated public transport service with social, economic, spatial and environmental benefits.



Since its inception as a smart public transport mode, Gautrain has maintained high levels of operational efficiency. The train service operations achieved an average availability of 99.66% and punctuality of 98.11% over the last year. This was backed by excellent personal and property safety and security within the System keeping incidents below a 1% level. Safety and security targets for Gautrain passengers are met through the security enhancement plans.



Gautrain passengers can now use their credit or debit cards to tag in and out of stations, buses and parking facilities. This “tap and go” technology is the first phase of a broader “smart ticketing” plan that will extend to other public transport modes with incentives such as interoperator discounts or rebates.



The service has influenced travel behaviors and currently 70% of trips on the Gautrain cross a city boundary linking important attractions, facilities and services across the region. &nbsp;Each person who has chosen to make a trip on Gautrain instead of by car has delivered approximately R74 of economic benefit in a form of reducing costs from fatal accidents, provided carbon dioxide CO2 emission savings and 22 minutes of time saved on average.



As a smart mobility mode Gautrain wants to go fully green. It is therefore pursuing a sustainable urban mobility plan, which will include procuring new buses with an integrated chassis, meaning it will be possible to convert them to run on electric, hydrogen or hybrid power.



Investigations are underway into using and even producing hydrogen to power Gautrain buses – a far cleaner fuel option than diesel. You may soon be able to charge your electric or hybrid car at Gautrain stations, which will also be retrofitted with solar panels to offset their power requirements. This green mobility plan will also help commuters to offset their carbon footprint.



Compared to road transport, rail provides lower carbon transport solutions to promote a greener Gauteng. The Department of Transport’s Green Transport Strategy builds on the Department of Environmental Affairs’ 2014 Mitigation Report that provides estimates of the potential CO2 emissions reductions that can be achieved through modal shifts in the transport sector, and the estimated costs of achieving these reductions per ton of avoided CO2 emissions. While the initial capital costs are high (approximately R3 000 per tonne of carbon dioxide saved), by 2050 these investments will provide a return of over R1,000 per tonne of CO2saved, with up to over 9,000 kilo-tonnes of CO2 that can be saved through the shift from private vehicles to passenger rail.



Rolling out the Gauteng Rapid Rail Integrated Network (GRINN) extensions is another way the Gautrain contributes to the smart mobility concept by benefiting the economy and society.&nbsp; The GRINN will give workers more access to employment opportunities. It is projected that phase one of the extensions will create close to 29,000 jobs during construction and an additional 7,729 long-term jobs during start of its operations. The GRINN Phase 1’s project is also expected to invest approximately R388 million skills development during the construction phase and a further R29 million during operations of the phase.&nbsp; Phase 1 economic benefits arising from the construction and operation of GRRIN is estimated at total present value of R33 billion.



Follow us on:



<ul class="wp-block-list"><li>Twitter &#8211; @TheGautrain</li><li>Facebook – www.facebook.com/gautrain</li><li>Website – <a href="http://www.gma.gautrain.co.za">www.gma.gautrain.co.za</a></li><li>Call Centre – 0800 42887246</li><li>SMS alert line – 32693</li></ul>

Gautrain – train 01

Smart Mobility: Gautrain the sustainable way of travel!

After years of having served as a senior communications practitioner, I’ve learned that the most important attribute of any effective communicator is being able to look at yourself – your people and brands – through the lens of your most important stakeholders.



When we do that we can ask ourselves: what do I need to be doing to instil trust, to inspire, to energise, or to re-assure? Communications is essential to doing all of these things –more so during times of uncertainty.



Amid the current pandemic, communicators need to intimately understand how perceptions and expectations of their organisations and brands have changed – accelerated by fear, anxiety, changing priorities, and all the uncertainty that comes with physical distancing and a future that for many is on hold or ill-defined.



Through our own experience at Standard Chartered and by watching how other organisations have navigated the pandemic, we believe the current crisis is heralding a new era of communications underpinned by an even more relentless focus on the alignment between the needs and interests of our clients, and our own interests.



But more than simply re-aligning what we do and what we say, we need to adjust the lens through which we think about communications – and re-think what makes us relevant in these uncertain times. This means being more sensitive – to clients, partners and employees – more transparent in communicating why we’re doing what we’re doing, being more authentic and human in how we talk to our stakeholders, engaging in the difficult conversations, and being more agile. &nbsp;



<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" src="https://www.cnbcafrica.com/wp-content/uploads/2020/10/Olga-780x1024.jpg" alt="" class="wp-image-383216" width="780" height="1024" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/10/Olga-780x1024.jpg 780w, https://cms.cnbcafrica.com/wp-content/uploads/2020/10/Olga-228x300.jpg 228w, https://cms.cnbcafrica.com/wp-content/uploads/2020/10/Olga-768x1008.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2020/10/Olga-1170x1536.jpg 1170w, https://cms.cnbcafrica.com/wp-content/uploads/2020/10/Olga-1560x2048.jpg 1560w, https://cms.cnbcafrica.com/wp-content/uploads/2020/10/Olga-696x914.jpg 696w, https://cms.cnbcafrica.com/wp-content/uploads/2020/10/Olga-1068x1402.jpg 1068w, https://cms.cnbcafrica.com/wp-content/uploads/2020/10/Olga-1920x2521.jpg 1920w, https://cms.cnbcafrica.com/wp-content/uploads/2020/10/Olga-scaled.jpg 1950w" sizes="auto, (max-width: 780px) 100vw, 780px" /><figcaption>Spokesperson: Olga Arara-Kimani, Regional Head of Corporate Affairs, Brand &amp; Marketing, Standard Chartered AME</figcaption></figure>



<h2 class="wp-block-heading" id="h-communications-as-a-lasting-facilitator-of-trust">Communications as a lasting facilitator of trust</h2>



Communicators and marketers serve as the main driver of a corporation’s messaging and play an instrumental role in fortifying existing and potential brand-client relationships. This role was further amplified amid growing concerns surrounding the pandemic as consumers attempted to navigate a ‘new normal’. &nbsp;The pandemic beckoned a fundamental shift in the way brands communicated with consumers, wherein an emphasis was placed on establishing and maintaining trust in brands and what they stand for.



At Standard Chartered, we’ve adapted to the ‘new normal’ by inviting clients, many who are deeply concerned about their finances and their ability to manage them through the pandemic, to take advantage of our wide array of digital services and have marketed these as an efficient method for consumers to conduct their day-to-day banking needs. At the same time, we’re continuing to share regular updates on the status of our operations across our various markets, including our call centre hours, branch closures and our timely transition back to the office.



During the pandemic, we have seen the digital adoption rate for mobile fixed income products has increased dramatically since the we introduced wealth management solutions on our digital bank platforms this year. In Africa alone, the average growth rate was 43 percent in April. The diversification of digital product offerings in investments has given clients the option to choose where to invest based on market volatility during the COVID-19 situation. However, customers still care for an experienced professional who will translate and explain the strategies proposed by the systems, while offering support in the decision-making process.



Without the luxury of face-to-face meetings, Standard Chartered has conducted 30 webinars reaching over 17,500 wealth management clients in AME during COVID-19. The webinars were conducted by the Bank’s economists and investments specialists since April 2020 to keep clients abreast of market developments and investment strategies without the need to meet face to face.



Similarly, we’ve shifted our focus to deliver our suite of external engagement activities through digital platforms. Across our various markets in the Africa and Middle East (AME) region, we’ve hosted virtual roundtables and panel discussions that engage our full range of clientele and facilitate interactions between our industry experts and consumer base.



<h2 class="wp-block-heading" id="h-shift-in-internal-efforts">Shift in internal efforts</h2>



This shift in our external strategy was also mirrored in our internal communications efforts, as during uncertain times employees will rightfully look for guidance, re-assurance and information from senior leadership on ongoing developments.



Ensuring that employees receive valuable information while mitigating against panic and misconception across the wider corporation is absolutely essential. Leaders that practice frequent and transparent communications with employees, through words of encouragement and reassurance, are able to instil faith and provide comfort under unclear conditions.



At the bank, we’ve adopted a communications strategy that facilitates robust two-way engagement between employees and the wider team, during a time where a staggering 90 percent of our personnel were working remotely. We’ve been able to share important messages through digital channels and mobile applications, such as WhatsApp and SMS, while organising internal sessions that congregate the wider corporation through accessible platforms, such as Blue Jeans, where we hosted a regional Town hall with over 3,000 participants across Africa and the Middle East.



We’ve also prioritised the creation and dissemination of content that’s of interest, while conforming to physical barriers imposed by the pandemic, to ensure our employees are continuously engaged with the bank’s ongoing activities. In turn, the bank was able to connect thousands of employees through content that drives our key messaging, further inciting confidence in our wider strategy. &nbsp;&nbsp;



<h2 class="wp-block-heading" id="h-future-of-communications-is-underlined-by-the-covid-era">Future of communications is underlined by the COVID era</h2>



Moving forward, brands will be obliged to navigate a post-COVID consumer-brand dynamic that is underpinned by an emphasis on greater credibility and awareness. The pandemic has uncovered a series of consumer-driven considerations that will undoubtedly decipher how brands communicate with their consumers hereafter.



It’s becoming increasingly evident, for example, that consumers are looking to engage with brands that move beyond virtue-signalling and take meaningful action in support of the communities in which they operate. &nbsp;Studies have shown that consumers across the globe are responding increasingly well to acts of kindness and generosity undertaken by their brands of choice, which directly translates to increased engagement. &nbsp;According to a recent survey, over 40 percent of millennial participants believe brands play an important role at this time. What’s more, one in four millennials surveyed believe brands may be as impactful in addressing societal needs as the government.<a href="#_ftn1">[1]</a>



This is equally true for the approach a brand takes to its communications, wherein these acts of kindness and genuine community support must be shared in a manner that is sensitive, yet impactful. The current crisis has further accelerated the need for corporations to evaluate which messages continue to bolster their value propositions, and which messages impede their ability to practice impactful communications with consumers.



The unprecedented challenges incited by the pandemic have placed corporations under a microscope, wherein their communicative efforts and ability to support consumers is heavily scrutinised. Open and continuous communication is more important than ever, not only for our customers, but for employees, too.



Never has communication had a more important role within businesses than today.



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



<a href="#_ftnref1">[1]</a> https://berlincameron.com/newevent-all/2020/4/1/millennials-want-brands-to-communicate-more-during-covid-19-crisis-study-finds

How COVID is teaching us to be better communicators

As we commemorate Women’s Month, we also celebrate remarkable women in the transport sector, while focusing on rail in particular. Given the history of South Africa, rail has always been a male-dominated sector. However, at the height of the 21st century, women have made significant headway in the and pushed the boundaries in the industry.



It is against this backdrop that the Deputy Minister of Transport, Dikeledi Magadzi, in collaboration with the Railway Safety Regulator (RSR) will host a webinar on 25 August 2020. The webinar will provide a platform for industry captains and critical stakeholders to deliberate on pertinent issues including empowerment and equality among other issues. Joined by the Deputy Minister are the RSR Acting CEO, Tshepo Kgare; PRASA Rail CEO, Nosipho Damasane; Transnet Freight Rail CEO, Sizakele Mzimela and the Gautrain’s Executive Manager: Asset and Management Assurance, Nomsa Sivetshe.



The panelists will deliberate on matters concerning gender equity and economic empowerment. The conversion will delve into possible solutions towards economic transformation and social development as driven by the rail sector.



This virtual engagement is the first of a series of roundtable conversations that will discuss matters of economic transformation and social development across all modes of the transport under the theme: “Generation Equality: &nbsp;realising women’s rights for an equal future” and is adapted from the United Nations Women’s theme for 2020: “What Women Want”.&nbsp;



<h2 class="wp-block-heading" id="h-role-of-the-deputy-minister-of-transport">Role of the Deputy Minister of Transport</h2>



The Deputy Minister is charged with great responsibilities towards the fulfillment of the economic transformation agenda as an apex priority area pronounced by both the President of the Republic, President Cyril Ramaphosa and by the Minister of Transport in fulfilment of the obligations of the 6th Administration’s five year term. This specifically relates to gender equity, women empowerment and the eradication of existing gender relations in society, including the eradication of gender-based violence. Transformation is by itself a very broad proposal in South Africa’s developmental agenda, but the Department of Transport (DoT) Strategic Plan lays emphasis on the following areas from which we take cue in defining the context of the programmes planned:



<ol class="wp-block-list" type="I"><li>Transformation of the South African construction, engineering, aviation, maritime sectors in line with national transformation imperatives, in a manner that broadens economic participation, economic growth and job creation.</li><li>The Department of Transport’s and all its entities’ contribution to broad-based black economic empowerment, business skills development and the growth of small, medium, macro enterprises and cooperatives, with a particular bias towards township, dorpie and rural economies.</li></ol>



This series of programmes will be championed by the Ministry of Transport through the Office of the Deputy Minister of Transport, Dikeledi Magadzi in a quest to contribute to the transformation of the transport industry, by:



<ol class="wp-block-list" type="1"><li>Unearthing good women stories in the different modes and programmes of transport and ensuring publicity of those stories while encouraging positive role modelling;</li><li>Understanding the empowerment and equity related challenges faced by women, girls and women with disabilities in the sector;</li><li>Discussing possible solutions to challenges faced;</li><li>Considering employment equity issues affecting women, young women and women with disabilities across the Department of Transport (DoT) and its entities; and</li><li>Informing the Minister of Transport and the Director General of the salient issues raised in the roundtables for possible action.</li></ol>



This virtual roundtable seeks to encourage conversation about pertinent issues that many women still struggle with to this day and will encourage women to become part of the process of finding helpful solutions.

Women in Rail

WOMENS MONTH WEBINAR ON RAIL

Over the last 10 years one of the few constants has been the growth of technology and the impact it has had in, not just our personal lives but also, our professional lives. One would be hard-pressed to remember that at the very beginning of the last decade social media was barely as pervasive as it is today. Social media was at the time just becoming a mainstay in many people&#8217;s lives across Europe and the United States, and yet to become as big on the African continent. Fast forward to the year 2020 and we have the privilege of being able to look back and trace the growth experienced by social media platforms. Social media has grown in leaps and bounds connecting people across the world from one continent to the other, reuniting friends and family and opening up many to worlds unknown to them prior.



<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" src="https://www.cnbcafrica.com/wp-content/uploads/2020/09/IMG_1684-683x1024.jpg" alt="" class="wp-image-383120" width="558" height="833"/><figcaption>Terryanne Chebet</figcaption></figure>



However, the biggest impact that has been experienced may be the growth of social media as a viable business platform. Gone are the days when social media was simply just to keep up with your favourite celebrities or message your friends, it has now become a bustling marketplace where businesses can not only grow but also start with the simplest of ease.



Today, in Kenya, many businesses have used platforms such as Instagram to drive them towards success. This has been aided by the swift uptake of technology by most of the population – supported by the fact that it is largely youthful, as well as a willingness to take up the entrepreneurial mantle and start sustainable businesses. Nearly all established businesses prior to the age of social media have accepted the value of being present on social media and have opened pages across all the platforms &#8211; hence its conduciveness as a marketplace. Many businesses in Kenya today have begun on platforms like Instagram, whilst some even operate exclusively on the platform.



One such business that is slowly growing through the use of the platform is Keyara Organics, a platform owned and run by Kenyan media maven Terryanne Chebet. Her business was inspired by the need for a product that could help her deal with her daughter&#8217;s skin condition, eczema. She looked among the existing businesses and was unable to find a suitable product that met her needs. This inspired her to develop the solution on her own and come up with a range of products that filled the gap that she had stumbled upon. Her business is therefore one born of necessity.



“When my oldest daughter was young, I was looking for some suitable products to use for her skin that would not aggravate her condition. That, for me, meant skincare products that were organic and made from natural products. However, as I conducted my search, I was unable to find the kind of products I was looking for – at least locally,” says Chebet. She further adds, “That inspired me to take up the mantle and begin developing the products myself. It is only later that I began to see it as a business opportunity”.



<figure class="wp-block-image alignfull size-large"><img loading="lazy" decoding="async" width="1110" height="740" src="https://www.cnbcafrica.com/wp-content/uploads/2020/09/PHOTO-2020-03-19-21-39-10-1110x740.jpg" alt="" class="wp-image-383118" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/09/PHOTO-2020-03-19-21-39-10-1110x740.jpg 1110w, https://cms.cnbcafrica.com/wp-content/uploads/2020/09/PHOTO-2020-03-19-21-39-10-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2020/09/PHOTO-2020-03-19-21-39-10-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2020/09/PHOTO-2020-03-19-21-39-10-696x464.jpg 696w, https://cms.cnbcafrica.com/wp-content/uploads/2020/09/PHOTO-2020-03-19-21-39-10-1068x712.jpg 1068w, https://cms.cnbcafrica.com/wp-content/uploads/2020/09/PHOTO-2020-03-19-21-39-10.jpg 1280w" sizes="auto, (max-width: 1110px) 100vw, 1110px" /><figcaption>Keyara Organics</figcaption></figure>



Social media has simply acted as a catalyst for the adoption of online platforms for making sales. It is now becoming the general consumer behaviour to peruse a business’ offering online and make your order without visiting a physical shop. Many small businesses today have experienced a spike in sales from their online platforms. “About 90% of our sales today come from orders made online. There are very few customers who still insist on physically coming to a shop, especially for those of us in the beauty industry where our products don’t require someone to try them before making the purchase,” says Chebet.



It isn&#8217;t just social media that has helped businesses go digital in Kenya but also payment platforms such as Visa. To support a business’s ability to operate without having a physical premise has also meant that payments must follow suit.&nbsp; With the evolution of technology in the payments sector, such as the addition of chip and pin cards as well as contactless cards, more and more customers are looking to make payments using their debit cards. That is supported by three key aspects &#8211; ease-of-use, security and no surcharge. The relevance of digital payments has also been boosted by the Covid-19 pandemic that started in March 2020. To avoid the spread of the disease and flatten the curve, many customers are shying away from making cash payments. These trends have forced businesses to adopt digital payment platforms such as Visa to ensure that they continue to grow their customer base as well as their business.



Once a business is on-boarded onto the Visa platform, they are provided with a point-of-sale (POS) machine that facilitates the process of card payments. They also connected with a financial partner who will execute the payments via their system. Currently, as part of Visa’s Where You Shop Matters campaign, merchants who sign up on the Visa Small Business Hub turn the chance to win USD 200 worth of advertising, if they are among the first 100 to sign up.



“Our local communities thrive when small businesses are successful. Now more than ever small businesses need all the support that we can offer to promote sustainable growth. The global economy won’t bounce back until small businesses bounce back. At Visa, we are proud to support merchants and recognize that many small businesses have been most adversely affected by the pandemic. From eCommerce to security, our “Where You Shop Matters” initiative aims to help support them and champion the local small businesses that serve as the backbone of our communities” said Visa’s General Manager for East Africa, Corine Mbiaketcha. The growth of social media and the digitisation of payments have therefore played a key role in the evolution of the beauty industry in Kenya. Players in the beauty industry must therefore embrace digitisation so as to continue experiencing the benefits and growing their businesses to maximise their potential.

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Digital Payments and their Impact on Small Businesses in the Beauty Industry

The pharmaceuticals group says its management agreement with Ukusekela is already bearing fruit.



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="620" height="400" src="https://www.cnbcafrica.com/wp-content/uploads/2020/09/NUTRITIONAL-HOLDINGS-RESULTS_Digital-banners_620x400.jpg" alt="" class="wp-image-382858" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/09/NUTRITIONAL-HOLDINGS-RESULTS_Digital-banners_620x400.jpg 620w, https://cms.cnbcafrica.com/wp-content/uploads/2020/09/NUTRITIONAL-HOLDINGS-RESULTS_Digital-banners_620x400-300x194.jpg 300w" sizes="auto, (max-width: 620px) 100vw, 620px" /></figure>



Nutritional Holdings says its plan to sign an interim management agreement to manage cannabis company Ukusekela Holdings has already borne fruit, with a return to profitability for the first time in several years.



Nutritional, which is a manufacturer and distributor of pharmaceutical products and a range of natural medicines, says its proposed acquisition of Ukusekela bodes well for growth and future positive cash flows due to the spike in demand for cannabidiol (CBD) products because of their medicinal benefits. It believes that Ukusekela, which is involved in the research and development of the cannabis and herbal market, is strategically placed to take advantage of the recent unprecedented spike in demand and awareness for its immune-boosting supplement and other cannabis-infused products.



 Nutritional plans to tie up with major pharmaceutical companies in Europe and Africa to distribute its CBD products. And while interruptions as a result of the Covid-19 pandemic caused production in many industries to come in marginally lower than previous years, it acted as a catalyst to proving sustainability in the group&#8217;s new cannabis arm, helping to offset debt.



 Turnover for the year to end-February rose 10% to R41.7 million and it swung to a R7.47 million profit from a R5.4 million loss a year earlier. Earnings and headline earnings per share improved by 183% from a 0.06c loss in 2019 to profit of 0.05c. Its net asset value jumped 67% to 2.19c per share.



 Earlier this month, Ukusekela signed a supply deal with a leading manufacturing and distribution company in Germany. The contract spans three years and is scheduled to begin in the middle of next month with an initial volume of 50,000 units per month for the first year, which will ultimately grow to 200,000 units per month by year three, totaling a contract value in excess of R1 billion.



 Germany is the third-largest medical cannabis market in the world and is currently the frontrunner in Europe.



 The industrial, medical and recreational potential of the cannabis plant is touted as being worth between $150 billion and $250 billion,&#8221; the company said. &#8220;South Africa could be a world leader in this emerging industry, and Nutritional Holdings under its new regime aims to be the market leader.&#8221; Nutritional said it was currently reviewing its dividend policy with the view to creating more shareholder and stakeholder value.



<a href="http://www.nutritionalholdingssa.com/">http://www.nutritionalholdingssa.com/</a>

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