<h2 class="wp-block-heading">UAE financial centers act as a gateway to benefit African businesses</h2>



GCC, July 13th, 2020: Tata International Limited (TIL) has completed the first tranche of a receivables securitization transaction for USD 48 million in order to support their business growth in Africa. TIL packaged their receivables from eight African countries and successfully raised funding against them. The countries include Kenya, Uganda, Tanzania, Ghana, Nigeria, Senegal, Ivory Coast and Zambia.



The receivables were securitized through an entity set up in the Abu Dhabi Global Market (ADGM) by Al Tamimi &amp; Company. The Dubai headquartered Alpen Capital acted as the sole financial advisor to the transaction.



TIL is the primary trading arm of the Tata Group and has a substantial presence in Africa with operations in over 19 countries in the continent. In addition to the trading business, TIL is also a distributor for Tata Motors and Daewoo commercial vehicles, Jaguar Land Rover automobiles and John Deere construction and agricultural equipment across the African continent. &nbsp;&nbsp;



“Africa is a key market for TIL’s commercial vehicles business. TIL provides support to local entrepreneurs, farmers and SMEs to grow their business. This transaction allows TIL to increase their market share in Africa while supporting economic development at a local level. I would like to thank Alpen Capital for conceptualizing, structuring and concluding this sophisticated transaction.” said Noel Tata, Managing Director, Tata International Limited



“ADGM is an innovative, progressive and responsive international financial center transforming the business and finance landscape and is uniquely positioned as a gateway to benefit African businesses and transactions. We continue to introduce and launch initiatives that benefit businesses across the region and beyond as part of our efforts to reinforce our position as a leading International Financial Centre and to contribute to the global financial and business landscape.” said Juma Al Hameli, Senior Executive Director, Strategy and Business Development.



<blockquote class="wp-block-quote is-style-large td_quote_box td_box_center is-layout-flow wp-block-quote-is-layout-flow">“We value our relationship with TIL and are extremely proud to support them in their funding requirements. The UAE is emerging as a key financial center for the India-Africa corridor. In partnership with Tata International, Alpen is currently working on a number of initiatives including development finance in African countries as well as pan-African leasing structures. We are happy to partner with financial centers in the UAE to successfully structure transactions of this nature.” <cite>Rohit Walia, Executive Chairman, Alpen Capital (ME) Limited.</cite></blockquote>



Established in 1962, TIL has operations across five key business verticals: Metals Trading, Minerals Trading, Distribution, Leather &amp; Leather Products and Agricultural-based Products. TIL has a network of 49 offices spanning over 39 countries in Africa, Asia, the Americas and Europe supported by 10,000+ employee base.



For media enquiries, please contact:



Sameena Ahmad, Corporate Affairs



Telephone +971 (0)4 363 43 45 e-mail: sameena.ahmad@alpencapital.com



Alpen Capital (ME) Ltd – <a href="http://www.alpencapital.com">www.alpencapital.com</a>



Alpen Capital (ME) Limited is incorporated as a limited liability company in the Dubai International Financial Centre, Dubai, United Arab Emirates and is licensed by the Dubai Financial Services Authority. Alpen Capital offers a full range of investment banking advisory services in the areas of M &amp; A, Debt, Equity and Capital markets to some of the largest business conglomerates and financial institutions in the GCC and South Asia. Apart from the UAE, it has offices in Qatar, Oman and India.

TATA_Novus_(16605374004)

Tata International concludes a securitization transaction for its African Subsidiaries

<h2 class="wp-block-heading">Uber, in partnership with Mastercard to provide 120,000 free trips to frontline workers in MEA, including South Africa, Nigeria, Kenya, Ivory Coast and Ghana</h2>



The partnership with Mastercard is setting the benchmark for Uber across the MEA region



As cases of COVID-19 continue to escalate, those assisting communities continue to forge ahead.&nbsp; As they work tirelessly to continue to support, feed and protect communities, Mastercard has committed 120,000 free trips and meals to those supporting communities across the Middle East and Africa, which will be facilitated through Uber.



Uber is utilizing their technology and making available their wide network of drivers to ensure those who are supporting communities and the many frontline workers who need to be mobile, have a reliable and efficient way of getting around. Once qualifying workers have successfully signed up through Uber’s website, they can arrange transportation to and from their homes and to where they are needed, such as healthcare facilities or to feed the vulnerable. Uber has shared relevant health information with drivers to ensure they are well-informed in COVID-19 related safety protocols and have been provided with masks and sanitizer reimbursements.



Mastercard is helping people around the world navigate these challenging times. While ensuring that its network remains secure, resilient and reliable, Mastercard is also applying its technology, philanthropy, and data science expertise to rebuild healthy communities and ensure that economic growth is inclusive. As millions of people across the world come together to support, feed and protect their communities, Mastercard is extending its support to help those who help others.&nbsp;&nbsp;



This strategic partnership between Mastercard and Uber spans across the region and the power of this partnership is evident in Uber’s latest partnership across SSA:



<ul class="wp-block-list"><li>South Africa: Uber has partnered with The Bill and Melinda Gates Foundation to deliver chronic medication to vulnerable patients who cannot travel. Through this partnership, Uber has also been able to assist Doctors Without Borders to collect thermometers and transport them to clinics across South Africa.</li><li>Kenya: Uber has teamed up with The Nairobi Hospital and Gertrude’s Children’s Hospital to provide trips to ease movement for medical professionals, ensuring that frontline workers have a reliable and efficient way of getting to and from where their services are required.&nbsp;</li><li>Ivory Coast: Uber has partnered with Ivorian Ministry of Health and SOCIDA, Ivory Coast’s leading automobile dealers and distributors of the Renault, Suzuki, Isuzu and HELI brands, to provide free transportation to health workers in Abidjan.</li><li>Nigeria: Uber has partnered with the with Ministry of Humanitarian Affairs, Disaster Management and Social Development to support the President’s COVID field team with rides and to provide meals for school children</li><li>Ghana: Uber is supporting FreeLunchGH and The Safe Space Foundation with free rides.</li></ul>



<blockquote class="wp-block-quote is-style-large td_quote_box td_box_center is-layout-flow wp-block-quote-is-layout-flow"> “Mastercard continues to partner with digital players across the value chain to build a more connected world by supporting our communities. With our partner Uber, we are committed to support healthcare and essential workers who are working tirelessly to take care of us. Uber’s mission to improve lives is matched with Mastercard’s mission of doing well by doing good, together we are focused on helping frontline workers across the region feel confident and safe with access to free transportation.”<cite>Amnah Ajmal, Executive Vice President Market Development, Mastercard, MEA </cite></blockquote>



Anthony le Roux Regional General Manager, Uber, Middle East and Africa, “It is our role to help the society by providing relief, especially those who work tirelessly to support our communities. This is the largest partnership for us across MEA and we are amazed at Mastercard’s relentless effort to make a difference. We are proud to be working alongside them to ensure those supporting our communities, especially those on the frontline, have access to safe and reliable transport.&#8221;



This is just a start and this commitment comes as part of Uber’s global pledge to help communities in need to “Move What Matters”.

In this photo illustration the Mastercard logo is displayed

Uber launches its largest region-wide initiative in partnership with Mastercard

1[1]

Maktech’s Godwin Makyao: Now Is A Time of Entrepreneurial Opportunity in East Africa

Sanlam Investments is responding to the COVID-19 pandemic through large-scale support of the recovery of South African companies, from small enterprises to corporates that employ a large number of people. Sanlam has committed R2.25 billion of its own capital to seed three funds with the core objective of preserving and creating jobs &nbsp;̶&nbsp; in a drive to mobilise further capital from like-minded investors set on re-igniting economic growth.



The three impact funds, named the Investors’ Legacy range, share the common goal of backing companies negatively affected by COVID-19, but which have a strong likelihood of producing sustainable cashflows after the pandemic should they receive the required financial support. Each fund focuses on a different part of the market – SMEs, mid-market and large corporates – and will provide financing in the most appropriate form, whether it be in the form of loans or equity investment.



To Sanlam, people matter most and every job in South Africa counts. Economists estimate that, depending on how long the lockdown continues, we could have 3 to 4 million people losing their jobs, pushing the unemployment figure to close to 50%. The Reserve Bank revised its GDP forecast to a deeper contraction of the economy at -7.0% for 2020, while some private sector economists suggest that -10% is more likely. The other difficulty in South Africa is that we entered COVID-19 in a recession and we may be harder hit than other countries as a result. &nbsp;Providing funding to struggling South African companies can prove to be just the lifeline these entities need to pull through the COVID-19 crisis and save jobs.



<blockquote class="wp-block-quote is-style-large td_quote_box td_box_center is-layout-flow wp-block-quote-is-layout-flow">In 1918, a small group of businessmen had a vision to start a local insurance company to empower communities. Today, our mission remains unchanged &#8211; to invest in the potential of Africa’s people and help forge solid financial futures. We foster a win-win business model, where we support the businesses we partner with. When they grow, we grow. All of South Africa grows.<cite>Ian Kirk, CEO of Sanlam</cite></blockquote>



Sanlam Investments chief executive Nersan Naidoo says, “We actively seek out opportunities to support the recovery of South Africa in a purpose-led, society-focused, and investor-centric way. Particularly in times of crisis, we can empower other companies to create and sustain jobs, which has a real, meaningful flow-through to economic growth, and at the same time offer investors a good return on their capital.”



<div class="wp-block-image"><figure class="alignleft size-medium"><img loading="lazy" decoding="async" width="227" height="300" src="https://www.cnbcafrica.com/wp-content/uploads/2020/06/Sanlam-CEO-_Investments-227x300.jpg" alt="" class="wp-image-375236" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/06/Sanlam-CEO-_Investments-227x300.jpg 227w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/Sanlam-CEO-_Investments-776x1024.jpg 776w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/Sanlam-CEO-_Investments-768x1014.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/Sanlam-CEO-_Investments-696x919.jpg 696w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/Sanlam-CEO-_Investments-600x792.jpg 600w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/Sanlam-CEO-_Investments.jpg 1063w" sizes="auto, (max-width: 227px) 100vw, 227px" /><figcaption>Nersan Naidoo</figcaption></figure></div>



The Investors’ Legacy funds range is consciously aligned with the United Nation’s Sustainable Development Goals, particularly those goals focused on eradicating poverty, reducing inequalities and promoting economic growth. The capital will be invested with the intention of generating a social impact, while also looking to deliver returns that allow investors to achieve their long-term financial objectives. The management teams will invest into commercially-viable businesses that struggle to access the necessary liquidity in the midst of the pandemic, and without which they might not survive. &nbsp;The ultimate goal is to promote economic growth; preserve and create jobs; and create a more sustainable and inclusive society. ESG considerations are embedded into the process and the funds will report back on the extent to which impact objectives are met.



For over 100 years, Sanlam has been investing in potential. Says Ian Kirk, CEO of Sanlam, “In 1918, a small group of businessmen had a vision to start a local insurance company to empower communities. Today, our mission remains unchanged &#8211; to invest in the potential of Africa’s people and help forge solid financial futures. We foster a win-win business model, where we support the businesses we partner with. When they grow, we grow. All of South Africa grows.”



“As a financial services provider with our roots firmly in South Africa, we are keenly aware of our responsibility to support South Africa’s economic recovery and launching the Investors’ Legacy range is one such action we have taken. In the past few months, we have made various contributions to support clients and communities in South Africa and across the African continent. These include substantial contributions to South Africa’s Solidarity Fund and to the African Union; premium holidays, premium reductions and other such relief actions to clients; and we have provided funds for our businesses across the continent and other markets to make similar contributions in the countries where we operate. We need to get through this crisis and then rebuild our economies on an inclusive growth basis.”



Sanlam’s goal is to mobilise &#8211; apart from its own seed capital of R2.25 billion &#8211; further capital from like-minded investors who want to join in accelerating the much-needed growth of the economy, post-lockdown. It envisages the typical investor to be an institutional investor which, while likely to have a requirement to target a market-related financial return, has a strong alignment with the impact themes of economic growth; job preservation and creation; and social inclusion. Investors can choose to allocate to each fund individually or invest in a blend of the three impact strategies.



Each of the three funds will be managed by a team with an outstanding track record. The Investors’ Legacy SME Debt fund is run by a female-led team with a 10-year track record of successfully delivering on their funds’ investment objectives (with no negative months). Alongside it, the Investors’ Legacy Private Equity fund is managed by a seasoned team and a network of commercial experts that partner with us to execute on our embedded ESG and value creation strategy. In total, Sanlam’s corporate debt structuring unit has originated over R100 billion in assets since its establishment in 2004.



“The urgency and scale of the required response from us all are unprecedented,” says Nersan Naidoo. Naidoo adds, “The capital we raise together will be invested to generate a measurable social impact, while also delivering favourable returns for our retirement fund clients, so that we can make a real, sustainable difference. We want to be part of this urgent drive and shared fiduciary responsibility to rally together to preserve value in sustainable businesses. We urge others to join us on this journey.”

Sanlam Miss Advertorial Image 1

Sanlam launches urgent job-preservation initiative in response to COVID-19

Content provided by CompareForexBrokers



Prior to understanding why market volatility might be here to stay for the foreseeable future, the concept must be defined and understood on a basic level. When it comes to the forex trading market, volatility is the measurement of the frequency and extent of the positive and negative changes and swings in a particular currency’s value.



For example, if the Australian Dollar deviated from its average quite frequently and the deviations were substantial, it would be known to be a highly volatile currency. On the contrary if the Japanese Yen’s deviations from average were quite minimal and very rare – the currency would be known to have low volatility.



Volatility in the Forex market might not be all so bad, the more volatile the currency, the easier for traders to make big gains as price moves are likely to be larger. However, at the same time, such volatility can hold <a href="https://capital.com/volatility-risk-definition">trading risk</a>.



<h2 class="wp-block-heading">Difference between Volatility and Risk</h2>



Many forex traders make the mistake and join the concepts of volatility and risk at the hip. When in reality, they are different, and understand that much can take a trader a long way to being successful in the currency market game.



Market volatility, currency fluctuations, price gains and losses are all elements of Forex Trading that traders cannot control. However, risk is within a traders control. An individual can choose how much to invest, how much risk to expose themselves to and whether they are able to manage risk in general.



It is accurate that trading volatile currencies carries a large amount of risk, but traders need to be aware that it is ultimately up to them how much of their investment portfolio is made up of volatile currencies, and as a consequence the amount of risk they deal with.



<h2 class="wp-block-heading">Dealing with Volatility</h2>



When it comes to responding to volatility, many will say there is no one size fits all methodology. One of the more important mindsets to adopt is the ability to mould the volatility to your trading strategy and your current ‘life stage of investing.’



Those in their twilight years, will most likely be risk averse, and would prefer to trade with currencies that offer lower volatility, as opposed to those who are younger and a hungrier for a bit more ‘bang for buck.’



As COVID-19 continues to bring uncertainty on a global scale, many countries are struggling to keep up with the health requirements and the dire economic outlook. This uncertainty brings the understanding that market volatility is here to stay as covered by <a href="https://edition.cnn.com/2020/03/14/investing/dow-stocks-worst-week-2008/index.html">CNN</a>.



<h2 class="wp-block-heading">Historical Volatility v Implied Volatility</h2>



One of the ways to understand volatility in a more wholistic manner, is by understanding the difference between historical volatility and implied volatility.



Implied volatility is when a trader is able to look at options presented to them and ascertain what the implications of those options are. This does not employ historical charts or information, and is majorly based on the ability of the option provided to succeed in the future market.



Historical volatility measures and determines the price fluctuations of a currency over time, and ascertains where a currency is tracking based on its past performance.



<h2 class="wp-block-heading">Summary</h2>



During these tumultuous times, its evident that market volatility is prevalent and will be an important facet of the trading markets in the <a href="https://www.refinitiv.com/perspectives/future-of-investing-trading/the-covid-19-crisis-brings-volatility-back-to-the-fx-market/">short term</a>. It is up to the trader to ascertain how much risk they are able to manage and have the foresight to use fluctuations to their advantage as opposed to conceding major losses on investments.



Disclaimer: Currency trading is a leveraged product which means that with an eligible FX broker you can amplify your deposit up to 500 times. This leverage means there is a real possibility of losing your money so it’s important to understand the risks involved and consider options such a practice account. For more information view the South African section of <a href="https://www.compareforexbrokers.com/best-forex-broker/south-africa/">CompareForexBrokers</a>.

101416618-rand

Is Market Volatility Here For The Foreseeable Future?

<h2 class="wp-block-heading">FROM THE MAYOR’S DESK</h2>



<div class="wp-block-image"><figure class="aligncenter size-large is-resized"><img loading="lazy" decoding="async" src="https://www.cnbcafrica.com/wp-content/uploads/2020/06/blue_tonal-1.jpg" alt="" class="wp-image-373248" width="200" height="128" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/06/blue_tonal-1.jpg 783w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/blue_tonal-1-300x192.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/blue_tonal-1-768x491.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/blue_tonal-1-696x445.jpg 696w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/blue_tonal-1-600x384.jpg 600w" sizes="auto, (max-width: 200px) 100vw, 200px" /></figure></div>



Halfway through the month of May, we had fruitful engagements with the Captains of Industry within the City of Durban where we unpacked the City’s Economic Relief and Recovery Plan in response to the COVID-19 pandemic.



<blockquote class="wp-block-quote is-style-large td_quote_box td_box_center is-layout-flow wp-block-quote-is-layout-flow">It is now common cause that in extraordinarily challenging times like these, collaboration amongst various social partners is a prerequisite for any hope of successfully navigating the treacherous waters in which we find ourselves. No single social partner, be it business; government; labour or civil society, can strike out on their own and hope to address the COVID-19 pandemic and its impact.</blockquote>



On 18 May 2020 we came together as social partners to unpack the meaning of the City’s Economic Relief and Recovery Plan.  We also shared ideas on what we could do, individually and collectively, to fine-tune the plan and implement it.



As a City we gained useful insights from our social partners and we were highly encouraged by the positive manner in which our stakeholders engaged with the plan, including suggesting innovative ideas.



The devastation wreaked by COVID-19 in our society is enormous.&nbsp;



We estimate that since COVID-19:



<ul class="wp-block-list"><li>About 327 000 people lost their income or employment;</li><li>Unemployment will rise to 42%;</li><li>About R10 billion of Foreign Direct Investment (FDI) has been put on hold and another R8.5bn is at risk;</li><li>A deep contraction in economy is expected; and</li><li>While 32% of eThekwini’s economy has returned in stage 4, it will take some 18 months to get back to pre-lockdown levels and that, sadly, many businesses will close.</li></ul>



We believe our various interventions will help ameliorate the impact of this pandemic.



On the tourism front, which is one of the biggest employers in our City, we have re-categorised municipal rates for tourism B&amp;Bs and Guesthouses from commercial rates to residential rates. We have also instructed our Treasury to enter into arrangements with affected establishments to defer the payment of rates without incurring interest on outstanding rates for a period of up to six months. We are also linking affected businesses with the various national and provincial funds aimed at assisting tourism businesses.



On the events front, we have taken the decision to postpone &#8211; albeit some have been cancelled &#8211; those events for which we had sponsorship agreements. &nbsp;



We have also trained our sights on rural and township tourism, which is mainly led by emerging entrepreneurs for assistance. In this regard, we have doubled the allocation to Community Tourism Organisations (CTOs), from R250&nbsp;000 to R500&nbsp;000.



Notwithstanding these interventions, the situation is still challenging and requires all of us to put our collective proverbial shoulder to the wheel and rebuild the tourism sector. &nbsp;



As we enter Level 3 of the Lockdown, we urge those tourism businesses permitted by regulations to operate, to adhere strictly to the regulations in order to avoid regression back to Level 4. &nbsp;These are unchartered waters for all of us, but we urge all tourism stakeholders to act in unison towards a swift recovery of this important sector.



To those who miss Durban, we want to assure that when the Lockdown is over, we shall have in store for you a Durban that is warm and welcoming as well as creating unforgettable memories for you for many years to come.&nbsp; &nbsp;&nbsp;



<h2 class="wp-block-heading">DURBAN TOURISM LAUNCHES “VIRTUAL DURBAN EXCURSIONS”</h2>



<figure class="wp-block-embed-youtube alignwide wp-block-embed is-type-video is-provider-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="Know Your Durban Virtual campaign Teaser 1_City eSCAPES" width="500" height="281" src="https://www.youtube.com/embed/0Dod_fcQ174?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div></figure>



In a bid to keep the Durban destination top-of-mind for tourists as the world grapples with the COVID-19 pandemic, Durban Tourism has launched the ground-breaking “Virtual Know Your Durban Campaign” which started at the beginning of June.



The aim of this campaign is to connect with Durbanites and South Africans. It also provides an opportunity for the world at large to re-discover the Durban destination and virtually re-connect with the City in anticipation to what they can explore live when leisure travel is permitted.&nbsp;



The “Virtual Know Your Durban” campaign will showcase attractions, experiences and tourist activities which, over the years, have made Durban a destination of choice globally. The campaign will take its digital visitors on a virtual journey of Durban’s hidden gems and this will be activated on various social media platforms of the Durban Tourism and mainstream TV channels.



This campaign focuses on the domestic market particularly on Durbanites because it is our contention that many locals in our City and South Africa are yet to fully experience the offerings of Durban as a tourism destination. Therefore, we believe that the recovery of the sector will, initially, depend on local visitors to the various attractions. This campaign aims to achieve exactly that.



The “Virtual Know Your Durban” campaign is a collaborative effort involving Durban Tourism, product owners and stakeholders in the City’s tourism sector. It is as a direct result of the ongoing engagements between the City and a cross-section of tourism stakeholders which, among others, led to the crafting of the existing Tourism Recovery Plan for the City.



Another component of the Virtual Durban Excursion campaign to be rolled out is the Durban Influencer Virtual Tour.&nbsp; This sub-campaign will feature Durban’s foremost entertainers including Zakes Bantwini, DJ Cndo and DJ Sox, to mention but a few. These stars will be proudly taking our visitors on a visit to Durban’s attractions as well as hidden gems, all the while giving commentary on what the attractions have to offer, but still spreading the message as we grapple with the COVID-19 pandemic.



For this sub-campaign, Durban Tourism has partnered with the MTV Base Channel who will follow these artists as they visit different sites. “A critical part of this virtual tour&nbsp; is the participation of upcoming local artists, who will be paired with established local artists and take part in showcasing their art through virtual&nbsp; concerts and other activities that will be live streamed in various digital platforms as part of the Virtual Know Your City campaign,” said Sithole. The Durban Influencer Virtual Tour kicked off on the 4th of June.



We invite all our clients to join us on the excursion as we explore Durban on the hashtags of: #KnowYourDurban; #MyDurban; #AmazingDurban; #DurbanHasMore #RediscoverDurban #ThisisDurban



<h2 class="wp-block-heading">DURBAN JULY INDOOR EXPERIENCE</h2>



Horse racing fans can take heart that the 2020 Vodacom Durban July will take place this year, but as a broadcast-only event without spectators participating from the comfort of their homes.



The City of Durban is proud to be associated with this particular race which is a mainstay of the continent’s entertainment calendar.



Vodacom and Gold Circle have confirmed a joint commitment to run Africa’s Greatest Horseracing Event, but under the strictest adherence to all government health protocols around COVID-19.



“Gold Circle,&nbsp;together&nbsp;with the ongoing support of the company’s valued sponsor Vodacom, is fully committed to running the 2020 Vodacom Durban July. Sadly, given the reality of the present circumstances, the race meeting will be staged behind closed doors and without spectators,” said Gold Circle CEO Michel Nairac.



Durban’s very association with this premium event will profile the destination globally through the use of electronic and digital media.&nbsp; Initial projections are that the 2020 event will generate at least 50% of the coverage garnered at last year’s event which was held in the open. In fact, it is envisaged that the coverage of the actual race will eclipse last year’s coverage figures by 10% (from approximately R31 million to about R34 million) The projected total coverage value for the 2020 VDJ is about R67 million.



“The VDJ has enjoyed an uninterrupted history since first being run in 1897 – not even two world wars prevented the race from being run – and we are doing everything in our power to ensure that 2020 is not the exception,” he added.



The proposed date for the race is Saturday 25 July, but the extremely fluid nature of the current pandemic means this could change as circumstances so dictate.



Amongst other things, the 2020 VDJ will be a creative stage for the City’s fashion programme (Durban Fashion Fair) and will prompt the reimagination in the staging of different pillars of the VDJ including the various pre and after parties.



&nbsp;“Any decision we make around the Vodacom Durban July this year will be made as a responsible company committed to the safety of all who are involved.&nbsp;As a sponsor, we will work together with all relevant stakeholders and be guided by the horseracing fraternity and the experts in this industry, as well as in government, as we all work towards making this year’s race a reality,” said Michelle van Eyden, the Executive Head of Sponsorship at Vodacom.



<h2 class="wp-block-heading">TOURISM IN DURBAN SEES GREEN SHOOTS</h2>



Durban Tourism expects to see more green shoots in the City’s tourism sector as we enter Level 3 of the Lockdown as a result of the COVID-19 pandemic. While Level 5 had shut down all tourism activities, Level 4 saw some movement in the sector, with people allowed to exercise within stipulated times and restaurants being allowed to deliver orders to households.



Entering Level 3, amongst other things, sees resumption in the sale of alcohol as well as gradually re-introducing air travel for business. Critically, Level 3 allows for restaurants to operate, albeit on a take-away and order and delivery basis.&nbsp; This means that shisanyama outlets that also sell alcohol as well bottle stores are gradually able to trade. Level 3 also means that residents of our City can now enjoy our beautiful scenery while on their bicycles, hiking and game drives as these are now permitted.



During the Lockdown, the City of Durban has been engaged in an intensive campaign to spruce up the City and make sure that when tourists return to Durban, they experience a clean destination free of crime and grime. Stakeholders in the tourism sector must know the dos and don’ts of the Level 3. For more information on the meaning of Level 3 of the Lockdown, please visit: <a href="http://www.sacoronavirus.co.za">www.sacoronavirus.co.za</a>



<h2 class="wp-block-heading">A DURBAN GEM WORTH DISCOVERING</h2>



The COVID-19 pandemic has taught us that we need to do tourism differently. A rise in the trend of wellbeing and nature-based tourism activities as people seek a psychological let out after the lockdown is likely to be experienced. Durban, Kwa-Zulu Natal’s scenic and unique natural beauty icon, together with its warm subtropical climate provides an ideal opportunity to explore nature and is an experience that is unique to the destination.



One such hidden gem is the Krantzkloof Nature Reserve which is situated in Kloof which falls part of the Western Region of the City.



The Nature reserve, which is currently Managed by Ezemvelo KZN Wildlife, contains a wealth of biodiversity with a very high level of endemism and history. The nature reserve’s breath-taking scenery is the result of deep incisions into the ancient Kloof Plateau by Molweni and Nkutu rivers which in turn flow into the Indian Ocean at Blue Lagoon.



Activities that can be enjoyed include:



<ul class="wp-block-list"><li>Rock Climbing;</li><li>Guided and Self-guided walks;</li><li>Picnic Sites;</li><li>Educational guides on special plan species, animals and birding;</li><li>Wellness and Spa Centre’s within the Vicinity;</li><li>Scenic Waterfall</li></ul>



<figure class="wp-block-image alignfull size-large"><img loading="lazy" decoding="async" width="1110" height="500" src="https://www.cnbcafrica.com/wp-content/uploads/2020/06/GettyImages-1015406440-1-scaled-e1591331087963-1110x500.jpg" alt="" class="wp-image-373245" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/06/GettyImages-1015406440-1-scaled-e1591331087963-1110x500.jpg 1110w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/GettyImages-1015406440-1-scaled-e1591331087963-300x135.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/GettyImages-1015406440-1-scaled-e1591331087963-768x346.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/GettyImages-1015406440-1-scaled-e1591331087963-1536x691.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/GettyImages-1015406440-1-scaled-e1591331087963-2048x922.jpg 2048w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/GettyImages-1015406440-1-scaled-e1591331087963-696x313.jpg 696w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/GettyImages-1015406440-1-scaled-e1591331087963-1068x481.jpg 1068w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/GettyImages-1015406440-1-scaled-e1591331087963-1920x864.jpg 1920w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/GettyImages-1015406440-1-scaled-e1591331087963-600x270.jpg 600w" sizes="auto, (max-width: 1110px) 100vw, 1110px" /><figcaption>Two adult cheetahs loll on the game drive path of an oncoming tourist filled vehicle in the Thanda Game Reserve in Kwazulu Natal Province, South Africa. Horizontal full colour image.</figcaption></figure>



INDUSTRY READINESS



With the country going onto Level 3 of the lockdown which relaxes economic activity and human movement even further, the tourism sector is slowly re-opening. This is a critical period for the sector because the sector’s response will partly determine whether we move onto Level 2 or we regress to Levels 4 or 5. The key to this determination is how well the sector adheres to the Level 3 restrictions and attendant sector-specific protocols.



As the tourism sector, we must ready ourselves for the new normal in our operations that will be brought by the various levels. We must adhere to the protocols for the sector during the lockdown. To find out more about these protocols, go to: <a href="http://www.tbcsa.travel">www.tbcsa.travel</a>



Interested in learning more about tourism in Durban?



Contact Us:



+27 31 322 4164



<a href="mailto:info@visitdurban.travel">info@visitdurban.travel</a>

Sea And Cityscape Against Clear Blue Sky

DURBAN TOURISM LAUNCHES “VIRTUAL DURBAN EXCURSIONS”

As we go through this global pandemic together, it is the little things we miss. A high five, a handshake, a walk with loved ones… right now, there’s one little thing we all need to do – stay home and stay safe. However, while this little – microscopic, in fact – virus wreaks havoc on our world, our opportunity to make a collective impact has never been greater. Now’s the time to do our bit. Sanlam is committed to making a difference.



To date, outside of South Africa, the Sanlam Group and its partners have pledged close to $12 million to COVID-19 relief efforts across the 33 countries in which they operate.



The group has called on its corporate contemporaries across the continent to do all they can. Heinie Werth, Group Executive: Corporate Affairs and Services at Sanlam&nbsp;Emerging Markets (SEM), says, “Now is the moment to make a real tangible financial contribution to the cause if you can. Economies are on their knees. All around us, people are suffering. The situation is dire. We’re on a precipice where we have the chance to change lives and save lives.”



As a business deeply interwoven in the countries in which it operates, Sanlam is proactively taking steps to ensure these regions are equipped to effectively respond to the coronavirus and its economic and societal aftermath.



Werth says the task may feel overwhelming, “African economies require significant packages of monetary and fiscal stimulus given the challenges currently being faced. These cannot be achieved by anyone entity alone. A crisis like this calls for strong partnerships between all sectors of society. It is uniting us in a common cause and bringing out the best and purest aspects of our humanity. Large and small acts of compassion and kindness are happening all the time – often unseen. But we believe we can do more. Business has a crucial role to play.”



<blockquote class="wp-block-quote is-style-large td_quote_box td_box_center is-layout-flow wp-block-quote-is-layout-flow">Now is the moment to make a real tangible financial contribution to the cause if you can. Economies are on their knees. All around us, people are suffering. The situation is dire. We’re on a precipice where we have the chance to change lives and save lives.</blockquote>



He adds that Sanlam Emerging Markets (SEM) and its partners had identified meaningful ways to contribute to relief. Some of the initiatives include:



<ul class="wp-block-list"><li>Sanlam Uganda has donated US$75&nbsp;000 to the Government of Uganda’s National COVID-19 Response Fund</li><li>Sanlam Namibia contributed R1 million to the SEM donation</li><li>MCIS Life has donated personal protective equipment to Sabah’s medical society in Malaysia</li><li>BIHL set aside P4.5 million for the Botswana Government’s COVID-19 Relief Fund</li></ul>



Many of these initiatives require further support. “We encourage our peers to join us. Every contribution counts.&#8221;



<div class="wp-block-cover has-background-dim" style="background-image:url(https://www.cnbcafrica.com/wp-content/uploads/2020/05/61wHLjhsWAL-1.png)"><div class="wp-block-cover__inner-container is-layout-flow wp-block-cover-is-layout-flow">

</div></div>



“Our hearts go out to everyone affected by COVID-19. We know that this virus is having an unprecedented impact on the world, in many ways we cannot yet see. We are committed to doing everything within our power to support South Africans and Africans during this chapter. We will continue to contribute economically. We will support our clients, our staff, and our partners in whatever ways we can. We will actively seek initiatives we know can make a difference.”



Resilience stems from solidarity. Werth concludes, “We need to come together. We need to do our bit. We all miss the little things. But we can make a bigger difference now than we ever thought possible.”

Sanlam Emerging Markets and its partners on the African continent invest over $12 million to fight COVID-19

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="203" height="75" src="https://www.cnbcafrica.com/wp-content/uploads/2020/05/image-e1590734930832.png" alt="" class="wp-image-372653"/></figure>



May 2020 &#8212; Six months ago the vision for vivo in South Africa was just beginning to roll out. Launched in December 2019, the innovative mobile technology brand entered the market with two easy to handle, high spec, well-priced phones, the Y11 and Y91C.



The decision to enter, however, has been a long time coming. It made sense for vivo, the world’s fourth largest cell phone brand with over 300million users globally, to enter the local market, where currently it’s already estimated half the population use smartphones.



<h2 class="wp-block-heading">Entering the South African Market</h2>



“vivo plans to provide South African consumers with a user experience beyond expectations through technology and innovative, trendsetting products,” says Jeff Cao, vivo SA CEO. “Within three years, &nbsp;the company plans to sit in the top tier segment of cell phone brands in SA.”



<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" src="https://www.cnbcafrica.com/wp-content/uploads/2020/05/Jeff-Cao-vivo-CEO92-769x1024.jpg" alt="" class="wp-image-372651" width="489" height="650" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/05/Jeff-Cao-vivo-CEO92-769x1024.jpg 769w, https://cms.cnbcafrica.com/wp-content/uploads/2020/05/Jeff-Cao-vivo-CEO92-225x300.jpg 225w, https://cms.cnbcafrica.com/wp-content/uploads/2020/05/Jeff-Cao-vivo-CEO92-768x1023.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2020/05/Jeff-Cao-vivo-CEO92-696x927.jpg 696w, https://cms.cnbcafrica.com/wp-content/uploads/2020/05/Jeff-Cao-vivo-CEO92-600x799.jpg 600w" sizes="auto, (max-width: 489px) 100vw, 489px" /><figcaption>Jeff Cao, vivo SA CEO</figcaption></figure>



Cao, a young, dynamic businessman is deeply invested in the vivo brand, having joined the company as an intern when it launched in 2011.



“My career started with vivo,” he says. “I witnessed the changes in the industry and the growth of vivo as a brand.”



Launching in South Africa brings a whole new set of challenges and Cao is motivated by this, saying: “The biggest challenge for me is to learn the culture and the&nbsp; consumer demand of the South African market from scratch. I believe that as long as we adhere to the concept of “More Local and More Global”, &nbsp;all challenges are only a matter of time.



“I believe in changing what is changeable, accepting what is mutable, and using wisdom to tell the difference”.



<blockquote class="wp-block-quote is-style-large td_quote_box td_box_center is-layout-flow wp-block-quote-is-layout-flow">“I believe in changing what is changeable, accepting what is mutable, and using wisdom to tell the difference”<cite>Jeff Cao, vivo SA CEO</cite></blockquote>



In his time at vivo Cao managed the Thailand launch and ran that office for more than five years, ensuring he has an innate knowledge to ensure the vivo brand becomes more localized and in line with the prefereces of the South African consumer, while maintaining the core values of technology and innovation.



<h2 class="wp-block-heading">Innovation Driven </h2>



Globally vivo has nine R&amp;D centers around the world, five production bases and a total 80% of staff engaged in R&amp;D work. “This level of commitment to innovation ensures the vivo experience keeps evolving,” explains Cao.



Cao believes in immersing the brand into South African society by fulfilling corporate social responsibilities through the #VIVOCARES initiative, proving that vivo is not just a smartphone brand but also a brand that invests in its community: “vivo came with the dream of building an international first-class brand for South Africans- and we will pursue that dream.



An insatiable demand for 5G on a global scale has seen vivo emerge as the leader in this area, being one of the only companies with a mid-range 5G smartphone on offer. This product is set to launch in South Africa in the second half of 2020.



“We envisage that by 2023 when young people in South Africa think of mobile phones they think of vivo.”



For more information and interview requests please contact <a href="mailto:emma@notetc.online">emma@notetc.online</a>

Busy colorful morning commute in Hong Kong

VIVO CEO is a dynamic leader for this innovative global brand

An enduring lesson learnt throughout our 175-year existence is that, while things rapidly change around us, the things that truly matter don’t! The desire to keep learning and growing is one such thing that remains a driving force behind everything we do at Old Mutual. Education is central to this.



<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">“Wealth, if you use it, comes to an end; learning, if you use it, increases.” Swahili Proverb</blockquote>







<h2 class="wp-block-heading">Responding to the Challenges</h2>



Aligned to both Sustainable Development Goal’s 4 (Quality Education) and 17 (Partnerships) as well as our Responsible Business philosophy, we’re working to share, connect, learn and grow together with the communities we serve through Education.



We believe in the power of Education to solve key social issues such as poverty, inequality and unemployment. By continuing to invest in Education today, we know that we can build a more prosperous future for the generations of tomorrow.



Old Mutual has partnered with authorities, experts, and practitioners in the field on a number of ongoing initiatives including: &nbsp;



<ul class="wp-block-list"><li>Dynamic and interactive Financial Education and Inclusion programmes that have reached millions across the African continent. Utilising an array of channels and leveraging off technology, the programmes impart valuable and often life changing principles that empower customers and communities to build and sustain their lifetime financial goals.</li><li>Investing in Schools, Teachers and Leadership to drive immediate and long-term impact in the Education sector. Old Mutual’ s Education Flagship Project – a longer-term programme with a seven-year investment cycle – is in place to connect the dots between learners, teachers and school leadership through innovative training that has paid off in improved results in affiliated schools.</li></ul>



<ul class="wp-block-list"><li>Skills Development interventions such as Bursaries, Internships, Learnerships and Graduate Development programmes that seek to create sustainable job opportunities and placements for learners.</li></ul>



<figure class="wp-block-image alignfull size-large"><img loading="lazy" decoding="async" width="820" height="312" src="https://www.cnbcafrica.com/wp-content/uploads/2020/05/C1307-175-CNBC-Africa-1.jpg" alt="" class="wp-image-371836" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/05/C1307-175-CNBC-Africa-1.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2020/05/C1307-175-CNBC-Africa-1-300x114.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2020/05/C1307-175-CNBC-Africa-1-768x292.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2020/05/C1307-175-CNBC-Africa-1-696x265.jpg 696w" sizes="auto, (max-width: 820px) 100vw, 820px" /></figure>



<h2 class="wp-block-heading">Introducing Africa’s Biggest Digital Classroom to Bring It All Together!</h2>



In perhaps our most ambitious move yet, Old Mutual has committed to building Africa’s Biggest Digital classroom so that we can extend the Education-based work already being done across the Group to so many more.



This Digital Classroom is being designed to respond to the challenges of widespread education exclusion, low Financial Literacy rates on the continent, vastly uneven teacher-to-learner ratios, as well as accessibility to physical and financial resources that continue to hamper the success of the delivery of Education on the continent today, and into the future.&nbsp;



<h2 class="wp-block-heading">Enabling Learning Through Digital Engagement</h2>



But why a digital classroom?



Our aim as a business, is to be able to effectively respond to an increasingly connected Africa with user-friendly, value-adding solutions and experiences that bring as many people along on this educational journey as possible. Designed with a generation of digital first, tech-savvy users in mind, but mindful of the wealth of knowledge coming through from past generations, Africa’s Biggest Digital Classroom will enhance the capabilities of past and present, to shape a brighter future for all well into the future.



While we’re investing in digital capabilities to enhance education across the continent, we know that the future of Africa is still its people! And Africa’s Biggest Digital Classroom has people at its core. We believe that in creating opportunities for people to share and connect using digital technologies, we can contribute to greater inclusivity and a more prosperous continent for all.



<h2 class="wp-block-heading">How You Can Participate</h2>



Work is already underway to establish Africa’s Biggest Digital Classroom. We will be creating opportunities for our employees, customers, teachers, learners and many other stakeholders to add their voices to the design process. You can follow our progress and add your voice to the conversation on social media using #175Africa



We look forward to working with you to bring Africa’s Biggest Digital Classroom online!

175 Digital Classroom Advertorial image 1

Building Africa’s Biggest Digital Classroom

By Thandi Tobias



In its fight against the spread of COVID-19, our continent faces a massive challenge that requires unprecedented levels of unity and coordinated action. To prevail, we have to grasp without hesitation what the World Health Organization (WHO) has described as a ‘window of opportunity’ while it remains open for us to do so.



While our continent is home to many of the world’s fastest developing nations, it is also home to some of the most vulnerable. It is a known fact that the high prevalence of malnutrition, anaemia, malaria, HIV/AIDs, and tuberculosis among our people, puts our continent in an unfortunate position; one in which high death rates happen easily. That is why the country’s leadership had to act swiftly and decisively.



As Africans, it is essential that we focus on coordinated efforts in our shared battle against COVID-19.&nbsp; Africa spans both hemispheres and consists of 55 member states. Our combined efforts and determination can and will see us through this challenging period. The second and follow-up virtual meeting of the ‘AU Bureau of Heads of State and Government’, held in April 2020, ended with solid plans for a more unified African response to the COVID-19 pandemic. In addition to presentations by Dr Tedros Adhanom Ghebreyesus, Director-General of WHO, Dr John Nkengasong, Director of Africa Centres for Disease Control and Prevention (CDC), the Bureau was also addressed by French President Emmanuel Macron.



All the heads of state in attendance expressed a shared apprehension over the unknown impact this virus stands to have on the health of citizens of Africa, as well as the unforeseeable economic impact it will have. The Heads of States and Governments discussed three broad themes and agreed to proceed to pursue several key solutions:



<h2 class="wp-block-heading">1.&nbsp;&nbsp;&nbsp; Stronger inter-continental links for greater African solidarity</h2>



There was unanimous agreement on the urgent need to establish better humanitarian and trade corridors among countries; something they agreed would require cohesive efforts from all participants.&nbsp; All decisions would be in the best interest of the continent and its people.&nbsp; This will also enable Africa to speak with one voice on Africa’s priorities. African leaders also agreed on the need for an immediate lifting of all economic sanctions imposed on Zimbabwe and Sudan, as no African state would be left alone to fight against the spread of COVID-19. It was resolved that without the burden of sanctions, Zimbabwe and Sudan would be better positioned to save lives.



<h2 class="wp-block-heading">2.&nbsp;&nbsp;&nbsp; An aggressive medical response</h2>



Africa requires the production of medical supplies and equipment. The heads of states and governments called for international cooperation, support towards up-scaling local production of needed Personal Protection Equipment (PPEs), medical supplies such as masks, gowns, ventilators, and other support devices, all of which are greatly needed in the continent.



Furthermore, the AU commended rapid action initiatives such as the ones coordinated by Ethiopian Prime Minister Abiy Ahmed and the Jack Ma Foundation. Working with the World Food Programme and Africa CDC, they mobilised and distributed over one million diagnostic tests, six million masks, and 600,000 PPE items to all African Union member states in less than a week.



<h2 class="wp-block-heading">3.&nbsp;&nbsp;&nbsp; Fundraising efforts</h2>



The AU is taking a multi-stakeholder approach towards raising needed financial and other forms of international support to strengthen the fight to flatten COVID-19 growth in Africa. The gathered Heads of States and Governments also noted the progress made in operationalising the African Union’s COVID-19 Response Fund, which was established on in March 2020. Members pledged the sum of US$12.5 million and an additional US$4.5million to the Africa CDC.



<h2 class="wp-block-heading">Africa’s Call</h2>



To win the battle against COVID-19, protect its citizens and, by extension, citizens of the world, the AU calls for the support pledged by the G20, the World Bank and the International Monetary Fund (IMF) to be delivered without further delay. It also calls for these institutions to review their disbursement policies to unlock higher levels of flexibility, speed, and Africa’s access to the IMF’s Special Drawing Rights (SDRs). In addition, the AU also supports the call for a comprehensive stimulus package for Africa and the immediate suspension of interest payments on Africa’s external public and private debt. Such measures would benefit all Africans, as greater fiscal space would be created to resource the battle against COVID-19.



In conclusion, allow me to remind you all, of our South African concept of Ubuntu – I am because you are – which also rings true in the hearts of all Africans and, I hope, inspires people around the world. It is in the spirit of this shared humanity that Africa’s call is made for the global support of our resilient, yet fragile continent.



*Thandi Tobias is the Chairperson of Brand South Africa; the official marketing agency of South Africa with a mandate to build the country&#8217;s brand reputation and to improve its global competitiveness.

International travel for South Africans is now allowed, this is how it will work

Op-Ed: Africa’s people-led approach to combat COVID-19 shows signs of progress and leadership

Johannesburg, 8 April 2020 – Old Mutual today announced that it is making R4 billion worth of cover available to qualifying categories of approximately 430 000 registered healthcare workers across South Africa. Unlike with traditional cover offered, this is neither a product nor a policy and no premiums will be recovered on it.



Instead, the cover will be freely accessible to qualifying categories of registered healthcare workers on the frontlines of the Covid-19 pandemic who are selflessly working to ensure the wellbeing of impacted South Africans everywhere, every day.



Explaining the initiative, Interim CEO Iain Williamson said that the business’s decision to support healthcare workers was inspired by a collective call supported by its 30,000-strong workforce.



“We were compelled to respond to the immediate need by our employees and by our responsibility as the country’s leading insurer. We’re acutely aware of the critical work being done by all essential services workers across the country as they continue to serve, care and protect our nation during this crisis.



“While we acknowledge that we cannot practically cover every single essential service worker at this time, the business has nevertheless made a call to provide R4 billion in free cover to the qualifying categories of approximately 430 000 registered healthcare workers who we believe are among the most exposed to the virus, and who continue to serve our nation so diligently. From our entire workforce to all our healthcare workers across the country, we say: WE ARE HERE FOR YOU!”&nbsp;



The cover will be available to qualifying categories of members who are registered with the Healthcare Professions Council of South Africa (HPCSA) as well as all registered practitioners of the Democratic Nursing Organisation of South Africa (DENOSA) as well as the South African Nursing Council (SANC). Effective from 1 April 2020 to 31 December 2020, the cover includes a R10,000 sum which becomes payable in the event of death of qualifying healthcare workers, and is intended to provide relief to families who may have to deal with the tragic loss of a loved one during this period. The cover has no exclusions, and will include death related to any cause.&nbsp;



The Group is also supporting national initiatives to access personal protective equipment for essential service workers such as face masks, gloves and hand sanitiser to the tune of R5 million. “We believe this will go a long way in supporting the other critical essential service workers who continue to serve the public at this time”.



This announcement follows closely on the Group’s recent comprehensive Covid-19 relief response which already includes:



<div class="wp-block-group"><div class="wp-block-group__inner-container is-layout-flow wp-block-group-is-layout-flow">
<ul class="wp-block-list"><li>A R50 million pledge towards relief efforts that address immediate educational needs, hygiene awareness and nutritional support;</li></ul>



<ul class="wp-block-list"><li>Old Mutual Insure has pledged R40 million towards SME and service provider support during this period;</li></ul>



<ul class="wp-block-list"><li>The inclusion of the Solidarity Fund as a beneficiary on its staff Payroll Giving Programme in which employees, including senior leaders and the Executive Team are encouraged to give generously;</li></ul>



<ul class="wp-block-list"><li>The provision of secure space adjacent to its Pinelands office in Cape Town, for a Covid-19 testing centre, in partnership with Lancet Laboratories; and</li></ul>



<ul class="wp-block-list"><li>The provision of ongoing customer relief, premium payment holidays and interest-free loans to qualifying cash-strapped SME customers.</li></ul>
</div></div>



“During this time, it is important for us to band together to support those who continue to support all of us. The qualifying categories of healthcare workers we intend to cover represent our customers, our families, our friends and a critical part of the overall essential services community which we are now proud to serve,” concludes Williamson.



For more information on this initiative as well as how to access this cover, email <a href="mailto:hereforyou@oldmutual.com">hereforyou@oldmutual.com</a> or call 0860 888&nbsp;995.



Further information is also provided at <a href="http://www.oldmutual.co.za">www.oldmutual.co.za</a>&nbsp;&nbsp;







For more information please contact:



<h2 class="wp-block-heading">Communications:&nbsp;</h2>



Tabby Tsengiwe M: +27 (0) 60 547 4947



E:&nbsp;<a rel="noreferrer noopener" href="mailto:ttsengiwe@oldmutual.com" target="_blank">ttsengiwe@oldmutual.com</a>



Nkosinathi Msiza M: +27 (0) 71&nbsp;670 3560



E:&nbsp;<a href="mailto:nmsiza@oldmutual.com">nmsiza@oldmutual.com</a>



<h2 class="wp-block-heading">About Old Mutual Limited</h2>



Old Mutual is a premium African financial services group that offers a broad spectrum of financial solutions to retail and corporate customers across key market segments in 14 countries across the continent. With over 174 years of heritage, we are a crucial part of the communities we serve and broader society on the continent.&nbsp;For further information on Old Mutual Limited and its underlying businesses, please visit the corporate website at&nbsp;<a href="http://www.oldmutual.com/" target="_blank" rel="noreferrer noopener">www.oldmutual.com</a>

Old Mutual provides R4 billion cover to healthcare workers during Covid-19

More than 700 million Africans lack access to a bank or mobile money account and only 41% of Africans are financially included. This is due to&nbsp;the high cost of providing financial services in Africa which forces many financial services providers to remain focused on serving wealthier customers.&nbsp;



These are some of the many insights from the report Cloud Banking in Africa: The Regulatory Opportunity by Genesis Analytics and Orange Business Services on how the application of cloud computing in financial services can help financial services providers reach and serve the poor.&nbsp; Download the full report from the <a rel="noreferrer noopener" href="https://www.genesis-analytics.com/uploads/downloads/Outlook-for-Cloud-banking-in-Africa_Genesis-Analytics_Orange-Business-Services_vf.pdf" target="_blank">Genesis Analytics</a> site.



Part of the cost problem is that financial institutions in Africa are so much smaller than elsewhere – the biggest bank in Africa (SBSA with assets of $148 billion) ranks 296th globally; most banks in Africa have assets of less than $5 billion. But African consumers are increasingly expecting these banks to provide the same range of digital services as banks in other countries. This is why consumers have been turning to mobile banking in such numbers. The telecommunications companies have been much more successful at delivering affordable financial services than banks are, but also need to find new ways to reduce costs if they are to reach out to even poorer customers.&nbsp;&nbsp;



Cloud computing creates an opportunity for providers of financial services to rethink their technology spend and significantly reduce costs. Cloud computing involves using internet technologies to provide virtual infrastructure that is scalable and delivered as a service. Fixed costs can be converted into a subscription-based approach and upfront capital investments are converted into operational costs. Cloud computing allows banks to pay less for ICT infrastructure and services and achieve higher utilisation on ICT spend. Particularly for small banks in small markets where specialised ICT skills are in short supply, cloud computing can ease a critical operational constraint.&nbsp;



<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">Cloud computing creates an opportunity for providers of financial services to rethink their technology spend and significantly reduce costs.</blockquote>



The most compelling reason to move to the cloud is undoubtedly cost savings, but there are other business reasons too. The flexibility of cloud-based operational models allows financial institutions to experience shorter development cycles for new products, which supports a faster and more efficient response to the needs of customers. Cloud computing provides the computer power necessary to deliver analytical insights in real time, which enables financial institutions to move towards a customer-centric model where the financial needs of customers are fully understood. Financial institutions can also gain a higher level of data security, resilience, fault tolerance and disaster recovery from cloud computing.&nbsp;



A few international and African banks have already realised the value of cloud banking. WeBank is China’s first digital bank that is based in a private cloud and uses innovative technologies, such as Artificial Intelligence and blockchain, to effect an extraordinarily high volume of transactions at a very low cost. WeBank has been able to run at 95% lower cost than that of traditional banks’ IT operations and has passed this cost saving onto their customers in the form of low account fees. TymeBank is a new digital entrant to the South African banking sector and has made a 56% cost saving compared to other startups by using cloud services from AWS.&nbsp;



Before financial service providers can adopt cloud banking, regulators need to support and approve the use of cloud technology within the financial sector. Some international regulators are already allowing the use of cloud banking in the financial sector. The European Union has been at the forefront of defining an enabling regulatory environment for cloud banking services, which has involved both the regulation on the use of data and privacy and protection of data. Under the regulations, financial institutions have to ensure that consumer personal data is gathered legally and under strict conditions and that consumer data is fully protected. Other developing markets like Turkey and Argentina have adopted similar legal and regulatory environments, which has enabled the use of cloud banking in their financial sectors.&nbsp;&nbsp;



Africa’s financial sector regulators’ approaches are very much work in progress. The report urges African regulators to develop clear policy positions and regulations on data privacy, risk and security; data sovereignty; cybercrime; protection of intellectual property; vendor risk; and migration complexity and operational risk to enable financial institutions to reap the benefit of cloud banking.&nbsp;



Genesis Analytics is a global African firm that has worked in more than 74 countries across the world, 41 of which are on the continent, and Orange Business Services is a network-native digital services company and the global enterprise division of the Orange Group, connecting, protecting and innovating for enterprises around the world.&nbsp;&nbsp;



Full link to report Cloud Banking in Africa: The Regulatory Opportunity: <a rel="noreferrer noopener" href="https://www.genesis-analytics.com/uploads/downloads/Outlook-for-Cloud-banking-in-Africa_Genesis-Analytics_Orange-Business-Services_vf.pdf" target="_blank">https://www.genesis-analytics.com/uploads/downloads/Outlook-for-Cloud-banking-in-Africa_Genesis-Analytics_Orange-Business-Services_vf.pdf</a>



<h3 class="wp-block-heading">About Genesis Analytics</h3>



Genesis Analytics is a global African firm that has worked in more than 74 countries across the world, 41 of which are on the continent. Working across various domains, the company combines deep sector knowledge with technical expertise to provide solutions for decision-makers and unlock value in Africa for its clients and for society. This expertise is drawn from working in the areas of youth and technology; climate change; competition and regulatory economics; financial services strategy; applied behavioural economics; communications and media; infrastructure; health; agriculture; water and sanitation; monitoring and evaluation; and shared value and impact.



<a href="http://www.genesis-analytics.com/" target="_blank" rel="noreferrer noopener">www.genesis-analytics.com</a>&nbsp;



<h3 class="wp-block-heading">About Orange Business Services</h3>



Orange Business Services is a network-native digital services company and the global enterprise division of the Orange Group, connecting, protecting and innovating for enterprises around the world.&nbsp;



<a href="https://www.orange-business.com/en" target="_blank" rel="noreferrer noopener">www.orange-business.com/en</a>



For further information, or to arrange an interview, please contact Daya Coetzee of Flow Communications at <a href="mailto:daya@flowsa.com" target="_blank" rel="noreferrer noopener">daya@flowsa.com</a> or +27 (0)11 440 4841.

Cloud-computing solutions can help significantly to reduce banking costs in Africa

This content was supplied by the IATF



A city that’s synonymous with innovation and creativity, Kigali, Rwanda plays host to this year’s Intra-African Trade Fair (IATF) – the only pan-African B2B cross-sector trade fair. Focusing on the newly launched African Continental Free Trade Area (AfCFTA), the week-long event promotes trade and investment across 55 countries. Major African traders, political stakeholders, buyers, investors, entrepreneurs and product manufacturers will join forces from 1 to 7 September 2020 to drive growth through unrivalled business opportunities.



<iframe loading="lazy" width="560" height="315" src="https://www.youtube.com/embed/gVJvJcf88sc" frameborder="0" allowfullscreen="" allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture"></iframe>



 Location, location



Situated in the heart of Rwanda, Kigali is buzzing with possibility and African charm. Home to countless creative startups and tech hubs and supported by a promising investment climate, the dynamic and progressive capital is the perfect setting for the key event boosting trade in Africa – the IATF 2020.



Innovation aside, ‘the land of a thousand hills’ also boasts picturesque views with rolling green hills and valleys. Stretching into Rwanda’s countryside, Kigali offers visitors plenty of outdoor escapes with over 430 000 hectares of forests and four national parks. Those seeking adventure can climb Mount Kigali — the highest of Kigali’s hills — to experience panoramic views of the city.



And for those who enjoy immersing themselves in the culture of a brand-new city, Kigali celebrates creativity and passion through thriving art, trade, coffee and restaurant scenes. Visitors are spoilt for choice when it comes to interesting art galleries, including the humble Niyo Art Gallery – a Rwandan home that has been transformed into a colourful museum for local works. A percentage of profits go to the Niyo Cultural Centre, which shelters and educates street children. For local goods and tasty food, the Kigali Culture Village provides a dedicated space for local artisans and food vendors. From charming fair-trade coffee shops to creative fusion restaurants, visitors can also treat their taste buds to real Rwandan java and delightful dishes.



Rapid development in the city has seen the creation of several new shopping malls, collaborative office buildings and entrepreneurship hubs like Norrsken Kigali – started by Sweden’s Norrsken Foundation to drive technology developments across the region. An acclaimed convention centre has also been constructed – IATF 2020 will host over 5 000 participants, 10 000 visitors and buyers, and 1 100 exhibitors at the state-of-the-art Intare Convention Arena. 



Travel options



Kigali International Airport (KGL) is in Kanombe, a few kilometres outside of the city centre. Well connected to other major airports in Africa and cities across the world, including Amsterdam, Brussels, Dubai, Istanbul, London and Tel Aviv, IATF attendees can fly into Rwanda with ease. National carrier RwandAir is recognised as one of the safest and fastest-growing airlines on the African continent.



Road travel into Rwanda is another viable option, especially for those wanting to take in the natural beauty of the country. Sharing land borders with Burundi, the DRC, Tanzania and Uganda, attendees can opt for independent taxis or privately-run buses spanning the entire country.



Interested in learning more or registering for the event? Explore the IATF experience at <a href="https://www.intrafricantradefair.com/en">www.intrafricantradefair.com/en</a>.

3648_IATF_Native-article-Banner

Visit vibrant Kigali for the inspiring IATF 2020

Absa Corporate and Investment Banking (CIB) says it is stepping up its capabilities in Transactional Banking to respond to ever changing client needs. Yasmin Masithela, Managing Executive for Transactional Banking, says clients no longer want generic products, they are expecting customised solutions that are customer centric and flexible to their needs.



“Clients are looking for
solutions that allow them to transact seamlessly across regions, they are
looking for efficient, scalable, secure and innovative solutions.&nbsp; We have seen a trend of the clients who want
plug and play solutions that are enabled through technologies such as Application
Programming Interfaces (API), minimising of development of intensive
integration,” she says. 



“This includes enabling our online channels to allow clients to transact direct from our online platforms. This has a significant impact on the integration cost reduction and operational efficiencies and embraces a best of breed technology,” Masithela says. 



Absa currently offers cash
management solutions which help clients to collect and make payments securely
and efficiently, across geographies. In some cases where clients experience
funding gaps, the bank can assist them by providing them with trade and working
capital finance and other Risk mitigating solutions.&nbsp; In addition, we offer international trade and
foreign exchange proposition in our transactional banking suites.&nbsp; 



“We also strive to enable clients to manage their liquidity effectively and ensure there is always sufficient cash available for them to get business done. &nbsp;&nbsp;These services are enabled through our online banking platforms which we are building and enhancing, as well as our host-to-host solutions which are existent,” she says. 



<figure class="wp-block-embed-youtube wp-block-embed is-type-video is-provider-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="Absa steps up its Transactional Banking capabilities" width="500" height="281" src="https://www.youtube.com/embed/_fKHgOWKQG4?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div></figure>



Absa also provides
multi-product solutions tailored to the current business needs of its clients
and will be focusing more on anticipating what their future needs might be as
they expand. This means continuing to invest and innovate the transactional
banking offering which will result in the bank providing an even more highly
personalised service with insights into the specific sectors they operate in. 



Masithela says Absa has
invested significant resources into building a superior digital experience for
hyper-connected banking across multiple channels. This includes our current
focus of end-to-end process automation and integration to digitally transform
customer journeys and reduce process complexity.&nbsp; 



“Because of our pan-African
presence and our experience as a leading financial services provider on the
continent, we also have the benefit of a unique understanding of the diverse
transactional needs of our clients in different environments. 



Masithela says in line with
CIB’s pan-African growth strategy, the bank will introduce new solutions to
further strengthen its transactional banking capabilities. 



“In this respect, we are introducing
new propositions in the next few months which will help our focus on growth. &nbsp;We will be landing our single sign on portal &#8211;
Absa access that will allow clients to transact in one place in their digital
framework of choice be it, Online, mobile or through a host platform and
finally through API’s in a safe environment.



We want to offer our clients propositions that are simplified and seamless we are focused on creating a great experience for our clients, across our transactional offerings and truly enabling our clients to grow their business through the use of our platforms.



Content provided by Absa

Brandcom Partner

Tata International concludes a securitization transaction for its African Subsidiaries

Uber launches its largest region-wide initiative in partnership with Mastercard

Maktech’s Godwin Makyao: Now Is A Time of Entrepreneurial Opportunity in East Africa

Sanlam launches urgent job-preservation initiative in response to COVID-19

Is Market Volatility Here For The Foreseeable Future?

DURBAN TOURISM LAUNCHES “VIRTUAL DURBAN EXCURSIONS”

Sanlam Emerging Markets and its partners on the African continent invest over $12 million to fight COVID-19

VIVO CEO is a dynamic leader for this innovative global brand

Building Africa’s Biggest Digital Classroom

Op-Ed: Africa’s people-led approach to combat COVID-19 shows signs of progress and leadership

Old Mutual provides R4 billion cover to healthcare workers during Covid-19

Cloud-computing solutions can help significantly to reduce banking costs in Africa

Visit vibrant Kigali for the inspiring IATF 2020

How Absa is gearing up to respond to client needs in transactional banking

TEST

News Tips

Advertise With Us

Brandcom Partner

Tata International concludes a securitization transaction for its African Subsidiaries

Uber launches its largest region-wide initiative in partnership with Mastercard

Maktech’s Godwin Makyao: Now Is A Time of Entrepreneurial Opportunity in East Africa

Sanlam launches urgent job-preservation initiative in response to COVID-19

Is Market Volatility Here For The Foreseeable Future?

DURBAN TOURISM LAUNCHES “VIRTUAL DURBAN EXCURSIONS”

Sanlam Emerging Markets and its partners on the African continent invest over $12 million to fight COVID-19

VIVO CEO is a dynamic leader for this innovative global brand

Building Africa’s Biggest Digital Classroom

Op-Ed: Africa’s people-led approach to combat COVID-19 shows signs of progress and leadership

Old Mutual provides R4 billion cover to healthcare workers during Covid-19

Cloud-computing solutions can help significantly to reduce banking costs in Africa

Visit vibrant Kigali for the inspiring IATF 2020

How Absa is gearing up to respond to client needs in transactional banking

TEST

News Tips

Advertise With Us

Newsletters