<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/07/Summit-Photos-2-820x547.jpg" alt="" class="wp-image-426362" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/07/Summit-Photos-2-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/07/Summit-Photos-2-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/07/Summit-Photos-2-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2023/07/Summit-Photos-2-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/07/Summit-Photos-2.jpg 1095w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Photo: via World Bank</figcaption></figure>



The working-age population in Africa is expected to grow by 450 million by 2035. In fact, Africa is the only region in the world where the workforce will continue to grow in the coming decades. By 2075, one out of three people of working age will be African.



How can the continent harness this enormous potential to accelerate economic growth and achieve greater prosperity for billions of people?



One answer is human capital which is key to creating and accessing good quality jobs.



Human capital is the health, education, and skills that people accumulate over their lifetime and which allows them to reach their full potential. With quality education and relevant skills, Africa’s young people can contribute to putting the continent on more inclusive and prosperous growth trajectory. This will require political and financial commitment at all levels, and from all stakeholders.



Over the last 20 years, Africa has made tremendous progress. Over 100 million more children in sub-Saharan Africa are in school. Gender parity in primary education has been achieved. And between 2009 and 2021, education spending in the region has almost doubled.



However, Africa continues to battle a learning crisis. Millions of children are out of school, and most of those in school are falling behind on key learning indicators such as reading, writing and basic math. The percentage of 10-year-olds unable to understand a simple text is projected to be approaching 89 percent after the COVID pandemic.



The current education system is at capacity, and the demand will only increase. Africa will represent over 40 percent of the school-age population in low- and middle-income countries by 2050. The population growth presents significant fiscal pressure on governments including on public service delivery, early childhood development interventions, and sustained investment in accessible and quality education for all, especially for women and girls.



Making bold investments in the continent’s young people is a matter of choices and priorities – not destiny. These large number of young, working-age Africans can be a source of growth and stability – if equipped with the necessary health, education, and opportunities to realize their potential. On the other hand, the same cohort could become a source of instability due to unmet aspirations. The choices African countries make today will determine their future.



Now is the time for Africa to invest in its people, in this unique moment in Africa’s demographic history – countered by fiscal pressures and huge needs of the African people. It will require strong country and regional commitment to the development of human capital. Africa’s leaders recognize this and know that greater progress is possible.



Given this time-sensitive window, African Heads of State are convening at the <a></a><a href="https://www.worldbank.org/en/events/2023/07/25/africa-human-capital-heads-of-state-summit">Africa Human Capital Heads of State Summit</a> on July 25-26 in Dar es Salaam to discuss this agenda as a top of the line priority. 



African leaders know that they will not be able to deliver change without building political momentum in the region. The summit will be vital for ensuring that countries accelerate investments in people and ensure a better future for all.



Human capital is necessary for people to maximize the opportunities of today and the jobs of tomorrow. Healthy, education, skilled and innovative people are better prepared to take advantage of job opportunities and to create jobs for not only for themselves, but also for others in our rapidly changing world.



Every month, 3.7 million young people enter the work force. The onset of digital technology, climate change, and migration have resulted in both disruptions and opportunities in a rapidly evolving global job market. Recently, COVID-19, climate change, and conflict and have increased unemployment globally, particularly for youth. This risks setting back hard-won gains in human capital and will drag down future job prospects.



While all countries require a skilled workforce and robust job creation, 84 percent of the 5 billion people who make up today’s working age population live in developing countries. Too many of them – 7 out of 10 – work in the low-productivity informal sector, earning little and facing significant risks.



There is an imperative to increase job quality in terms of productivity, earnings, and security – especially for women, youth, and the most vulnerable. These groups represent an untapped reservoir that must be leveraged for economic transformation.



Complementing foundational education and skills development with lifelong up-skilling and re-skilling can build the talent needed by employers and the needs of the self-employed.



Since the <a href="https://www.worldbank.org/en/publication/worldbank-africa-human-capital-plan">Africa Human Capital Plan</a> was launched in 2019, the World Bank’s commitments in human development operations in Africa have reached a historic $34 billion, with $11.5 billion new investments championing women and girls. Much of the funds are delivered through the World Bank’s <a href="https://ida.worldbank.org/en/home">International Development Association (IDA),</a> our fund for the poorest countries that provides support to 39 countries in Sub-Saharan Africa – with human capital as one of its special themes. And just in 2023, the World Bank has invested $87 billion globally to support better jobs outcomes, especially for women and youth.



In partnership, several countries have made progress benefitting millions of people from these investments that they have made:



In Tanzania, <a href="https://projects.worldbank.org/en/projects-operations/project-detail/P169165?lang=en">the Productive Social Safety Net II project</a> has supported <a href="https://www.worldbank.org/en/news/press-release/2019/09/12/five-million-tanzanians-to-benefit-from-improved-safety-nets">over five million Tanzanians</a> through providing job opportunities for their parents and incentives to keep their children in school – and attend health check-ups to strengthen their children’s human capital foundation. The program now covers all villages in the country 



The Democratic Republic of Congo’s (DRC) major education reforms, supported by <a href="https://projects.worldbank.org/en/projects-operations/project-detail/P172341">a World Bank project</a>, have showcased consistent results: an additional 2.3 million students were enrolled in public primary schools in project provinces, in school year 2021-22 and 58,000 new teachers have been hired.



In Nigeria, Edo state saw an opportunity to further the development of its digital education drive and used WhatsApp, among other platforms, to organize e-classes. Through its&nbsp;<a href="https://www.worldbank.org/en/news/feature/2021/12/08/remote-learning-during-covid-19-lockdown-is-preventing-learning-loss-in-nigeria">EdoBEST initiative</a>, more than 11,000 teachers received rigorous training and 7,000 virtual classrooms were created.&nbsp;



<a href="https://www.worldbank.org/en/events/2022/09/20/the-african-centers-of-excellence-a-pathway-towards-sustainable-development">The Africa Centers of Excellence project (ACEs</a>) is the first large scale regional program in the higher education sector in Africa. It addresses higher-level skills and innovative research requirements for the continent’s priority development sectors. The centers, geared towards international standards, deliver quality training that helps to fulfill labor market demands on the continent.



The <a href="https://www.worldbank.org/en/events/2023/07/25/africa-human-capital-heads-of-state-summit">Africa Human Capital Heads of State Summit</a> will conclude with commitments from the participating countries to prioritize investments in people, especially on learning, skills and health. It will be essential to work with all stakeholders to ensure there are sufficient resources to fulfill the aspirations and ambitions of Africa’s young people.

Summit-Photos-2

Unleashing Jobs and Growth through Human Capital in Africa

<div class="wp-block-image">
<figure class="aligncenter size-large is-resized"><img loading="lazy" decoding="async" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/07/0008_Carla-Jordan-Edit-1-1-820x785.jpg" alt="" class="wp-image-426163" width="615" height="589" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/07/0008_Carla-Jordan-Edit-1-1-820x785.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/07/0008_Carla-Jordan-Edit-1-1-300x287.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/07/0008_Carla-Jordan-Edit-1-1-94x90.jpg 94w, https://cms.cnbcafrica.com/wp-content/uploads/2023/07/0008_Carla-Jordan-Edit-1-1-768x735.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/07/0008_Carla-Jordan-Edit-1-1-1536x1471.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2023/07/0008_Carla-Jordan-Edit-1-1-scaled.jpg 2048w" sizes="(max-width: 615px) 100vw, 615px" /><figcaption class="wp-element-caption">Carla Jordan, CEO of Emerald SA</figcaption></figure></div>


It has taken Emerald SA, a specialist division of Santam, only 23 years to build the largest and most successful corporate underwriting business in Africa. While the above-average market growth achieved over the past five years may appear to be remarkable, it is not astonishing, “given we work to an ethos of taking opportunities when they present themselves, regardless of the negative triggers in the environment,” says Emerald SA CEO Carla Jordan.



“It may be that on the back of the pandemic, riots, floods and high inflation, insurers have had no option but to push for increased rates and premiums, but we are cognisant of how much our corporate clients can and can’t absorb in terms of increases, and this is where we excel – in finding the balance between rising reinsurance costs and our clients’ changing needs.”



International reinsurers are concerned, and rightly so, given the impending threat of a complete collapse of South Africa’s national power grid. Yet, while not denying that the loadshedding regime rings alarm bells, Jordan says that this, again, presents opportunities for Emerald to deepen its penetration into Africa, particularly tapping into renewable energy programmes .



“Developments and status changes allow us to look for new ways to improve and grow the business and innovate products that respond to Africa’s challenges. For example, our response to COVID-19 was to pilot a policy that will allow clients to recoup costs, or the additional costs incurred by a business during a pandemic/epidemic crisis.”



&nbsp;When their new policy launches in August, it will be a first-to-market offering from Emerald: a fully customisable solution to protect companies against the catastrophic economic effects resulting from a pandemic/ epidemic crisis, such as business interruption and lost revenue – thereby future-proofing businesses against unknowns. “With some 200 epidemic outbreaks and five new diseases being revealed annually, there exists a very real threat to business resilience,” says Jordan. “With this policy, we will be able to structure, price and underwrite cover for our clients that align to their risk strategy, helping them to build financial security.”



This innovative product is demonstrative of the game-changer attitude that Emerald is renowned for. “By working with the extensive Sanlam Pan Africa network, we have a real advantage in that we have the ability to mobilise premiums from up to 36 African nations, which is critical to underwriting multiterritorial pan-African accounts,” says Jordan. Emerald’s business model is a high-premium, low-volume operation, Jordan confirms. “We have the ability to take substantial lead lines and utilise our broad facultative reinsurance relationships to place large capacity behind risks. While certain accounts have many complexities, this model allows us to punch well above our weight.”



It also helps that Emerald has the ability to underwrite risks outside South Africa using a Standard &amp; Poor’s (S&amp;P) AA rating, which is higher than SA’s current sovereign rating of BB-. This has been facilitated by Santam and Emerald entering into a credit wrap agreement with Swiss-based New Reinsurance Company Limited (NewRe), a subsidiary of Munich Re. While Emerald can estimate that it currently accounts for in excess of 30% of the SA corporate property market share, the African market presents a far more diverse range of industries. “Largely, we will continue to focus on mining, heavy industry, ports (both marine and air), telecoms, and the big-scale property market. And again, the renewable energy sector is exciting,” says Jordan. To do this effectively, Emerald will be partnering with local insurers and tapping into global conglomerates that have operations on the continent. “My message is that Emerald is strong, engaged, and delivers as a market differentiator,” Jordan concludes.



For corporate property and affiliated engineering risk solutions, visit santam.co.za/products/specialist/corporateproperty.

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Emerald SA progressively launching new products and business in Africa

<div class="wp-block-image">
<figure class="aligncenter size-large is-resized"><img loading="lazy" decoding="async" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/07/nwu.sdg-1200x628.ch_.23.07.05-02-820x429.jpg" alt="" class="wp-image-426034" width="615" height="322" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/07/nwu.sdg-1200x628.ch_.23.07.05-02-820x429.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/07/nwu.sdg-1200x628.ch_.23.07.05-02-300x157.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/07/nwu.sdg-1200x628.ch_.23.07.05-02-160x84.jpg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2023/07/nwu.sdg-1200x628.ch_.23.07.05-02-768x402.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/07/nwu.sdg-1200x628.ch_.23.07.05-02.jpg 1200w" sizes="(max-width: 615px) 100vw, 615px" /></figure></div>


Our world is unrecognisable from that of just a few decades ago and great strides have been made to reduce disparities hampering global growth and prosperity. However, new challenges have arisen and we have yet to find answers to so many vexing questions. These include climate change, poverty and inequality, access to education, and environmental degradation with an alarming loss of biodiversity. These obstacles can sometimes seem insurmountable, but the North-West University (NWU) is geared towards bridging societal divides and tackling these challenges head-on.



One of the ways the NWU is accomplishing this is through its commitment to actively supporting the United Nations’ Sustainable Development Goals (SDGs) through its research and innovation, its support of global citizenship and its multitude of collaborations and partnerships. This is aided by the university’s pledge to educate and create awareness of the needs of society, and by cementing its institutional culture of responsibility and care.&nbsp;



The United Nations’ SDGs were adopted by 193 countries in 2015 and are a shared plan to end extreme poverty, reduce inequality and protect the planet. There are 17 of these goals, which range from ensuring inclusive and equitable quality education and the promotion of lifelong learning opportunities for all, to ensuring sustainable consumption and production patterns, guaranteeing the availability and sustainable management of water and sanitation for all, and protecting, restoring and promoting sustainable use of our various ecosystems.&nbsp;&nbsp;



Since his inauguration as principal and vice-chancellor of the NWU, Prof Bismark Tyobeka has been unequivocal in his support of these objectives, and the university continues to position itself as an integral cog that delivers sustainable solutions to problems both locally and abroad.



It is no simple task, but one the NWU does not shy away from.



“There are no easy answers to these difficult but pertinent questions. However, it is important that we create environments in which discourse thrives to find solutions, in which research is aimed at having a discernible impact and in which teaching and learning goals include delivering graduates with the intent to make a difference. Yes, we face a multitude of challenges, some of great magnitude, but it is our responsibility as an institution of higher education to do everything in our power to promote prosperity in all spheres of society,” explains Prof Tyobeka.



The first SDG is titled “No poverty” and is explained as the endeavour to end poverty in all its forms everywhere. At the NWU, the eradication of poverty is a target that never leaves the university’s sights. It is a mammoth, complex task, but one that permeates every fibre of the university’s make-up.



The NWU has three pillars that support its resolve, namely research, teaching and learning, and its many community engagement initiatives. “By equipping students with the knowledge to conduct research that makes an impact, by collaborating with our communities and by fostering lasting partnerships, sustainable solutions to the problems of poverty are within our reach,” says Prof Tyobeka.



Here the SDG of “Zero hunger”, which calls for an end to hunger, the achievement of food security, improved nutrition and the promotion of sustainable agriculture, comes to the fore. Prof Tyobeka says: “A healthy, thriving agricultural sector is integrally linked to the current and future fortunes of the country. Countless areas of our society depend on this sector, and without it pressing matters like food security cannot be addressed. The NWU is injecting its expertise into this sector through applied research that develops innovative methods to ensure food security and safety. In the face of climate change, the university is also examining the contribution of agricultural systems to household food security, as well as to the technical and socio-economic dynamics of food security.”



Each of the United Nations’ 17 SDGs is of cardinal importance and these are but two examples of how the NWU is using its expertise to help achieve every one of them. &nbsp;

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Towards a sustainable future with the North-West University

<div class="wp-block-image native-image">
<figure class="aligncenter size-medium"><img loading="lazy" decoding="async" width="300" height="300" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/07/20181017-Pierre-Herben-BW-704x102493-1-300x300.jpg" alt="" class="wp-image-425943" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/07/20181017-Pierre-Herben-BW-704x102493-1-300x300.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/07/20181017-Pierre-Herben-BW-704x102493-1-800x800.jpg 800w, https://cms.cnbcafrica.com/wp-content/uploads/2023/07/20181017-Pierre-Herben-BW-704x102493-1-90x90.jpg 90w, https://cms.cnbcafrica.com/wp-content/uploads/2023/07/20181017-Pierre-Herben-BW-704x102493-1-768x768.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/07/20181017-Pierre-Herben-BW-704x102493-1-1536x1536.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2023/07/20181017-Pierre-Herben-BW-704x102493-1-scaled.jpg 2048w" sizes="(max-width: 300px) 100vw, 300px" /><figcaption class="wp-element-caption">Pierre Herben, Group Head – Carbon Neutrality, Anglo American</figcaption></figure></div>


Much like the roots of a tree, South Africa&#8217;s energy infrastructure is planted where it finds nutrients. Historically, this has been in the Mpumalanga province, where 83% of the nation&#8217;s coal helps fuel a fleet of power plants and significant transmission infrastructure. Yet, across the country, there is also an abundance of renewable resources – plentiful sun and wind. Therefore new ‘roots’ and transmission connecting the western part of the country are key to enable the country’s next economic and social development phase, which will undoubtedly depend on accessing clean, reliable, and affordable energy.



Renewable energy access is not only fundamental to supporting inclusive growth, livelihoods, and better health outcomes in the future – it must also be harnessed now if the country is to escape the grips of the current energy crisis.



South Africa is well-positioned to capitalise on this energy shift. In addition to its wealth of renewable resources and the critical minerals required for the decarbonisation of the global economy, it has a young population that can propel this transition when matched with the right skills and opportunities.



Given that existing energy generating infrastructure is at &#8211; or nearing &#8211; its end of economic lifecycle, combined with national and global imperatives to decarbonize, supplementing existing energy infrastructure with renewable energy is mission-critical to safeguarding the country&#8217;s future.&nbsp;



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



In this regard, I am glad for the progress that government has made to toward liberalising the renewable energy sector to date.



Last year&#8217;s introduction of an &#8220;unrestricted&#8221; licensing threshold for energy projects is a welcome intervention, and equally, plans to update the Integrated Resource Plan (IRP) and to review existing limits on local embedded generation procurement will unlock the potential for rapid expansion of power generation capacity; while policies to enable the energy transition are being addressed by the National Energy Crisis Committee (NECOM).



However, the wheels of government must now turn faster than ever – beyond the energy crisis and toward an energy transition that provides security for growth and prosperity in the long term.&nbsp;



According to&nbsp;Economist Impact (EI)&nbsp;report,&nbsp;Powering Progress: Policy shifts and economic frameworks to enable South Africa&#8217;s energy transition,&nbsp;only well-coordinated, progressive, and fundamental changes to the country&#8217;s energy mix will provide the best route to a prosperous low-carbon future and energy security.&nbsp;



A critical area that needs urgent focus remains grid development, access, and connectivity. This is a crippling issue &#8211; some 6.3GW of renewable energy capacity procured by government through the Renewable Energy Independent Power Producer Procurement Programme (REIPPPP), could not find grid access, while a further 7400 MW of renewable energy procured from the private sector could not be allocated (under REIPPP Bid Window 6) due to unavailable grid access.



According to research commissioned by the&nbsp;National Business Institute (NBI), at least 190GW of renewable energy is needed by 2050 to decarbonise the power sector and realise South Africa&#8217;s low-carbon ambitions.



The mining industry has already started doing its part to answer the call for clean energy with a pipeline of over 6.5GW of sustainable energy projects.&nbsp; At Anglo American, together with our partners at EDFR, we have created Envusa Energy, set to deliver 3-5 GW renewable energy ecosystem across South Africa.



This energy ecosystem will meet not only Anglo American’s decarbonisation needs but also help to driver of economic development within South Africa&#8217;s renewable energy sector, supporting the country&#8217;s broader just energy transition.



Across many other industries, companies are on the same path – signalling a commitment to not only making the energy transition real but&nbsp;just and inclusive,&nbsp;too.



To support this future growth, greater grid availability will be critical to delivering renewable energy projects for public and private investments.&nbsp;



There has never been a more important time for the development of public-private partnerships between the government and business, marrying private-sector financing and technical expertise with efficient and simplified government processes to develop much-needed grid connection capacity. This is especially so in areas like the Northern, Eastern and Western Cape regions, which will enable the delivery of utility-scale renewable energy resources.



This decentralisation of energy resources across the country will have several advantages. It will enable access to affordable electricity, build more resilient and energy-secure communities, enable physical and digital infrastructure improvements to meaningfully reduce inequality, and contribute to a business operating environment suitable for attracting investment and economic growth across the country.&nbsp;



<h2 class="wp-block-heading">A people-centric Just Energy Transition</h2>



Given South Africa&#8217;s dependence on fossil fuels, shifting to a low-carbon future presents opportunities and risks for those reliant on carbon-intensive industries. For this reason, a pathway to a successful energy transition must ensure that people and communities dependent on these industries are not left behind.



Achieving this level of the energy transition will entail transformational and systemic change, which no individual, company or entity can deliver alone.&nbsp;



According to the Economist Impact report, as many as a million jobs could be generated through renewable energy projects by 2050 &#8211; more than three times the number of jobs possibly at risk in the transition.&nbsp;



Making this a reality will require unprecedented levels of engagement and collaboration between government, communities, civil society, labour, and business. Working together, a just transition can be realized by building up people’s resilience through progressive skills development and job opportunities created by access to affordable, decentralised, and diverse renewable energy — especially in secondary and tertiary industries.



By moving decisively to address gaps across the country’s energy landscape, South Africa can begin laying the foundation for a sustainable and inclusive energy future.

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Building Better – Renewable Energy for Today and the Future

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ACCRA, 23&nbsp;JUNE 2023:&nbsp;The African Export-Import Bank (Afreximbank) and Ghana Railway Company, the national railway operator of Ghana, have signed a project preparation facility Head of Terms agreement and Pre-Mandate Letter to finance the development and implementation of an integrated 299-kilometer (“km”) standard gauge railway network that connects Ghana’s western corridor to the Port of Takoradi and provides an essential link to external markets.



The Heads of Terms was signed by Mrs Kanayo Awani – Executive Vice President, Intra-African Trade Bank at Afreximbank and Dr Michael Anyetei – Managing Director, Ghana Railways Company Limited. Under the Heads of Terms of the project preparation facility, the Bank will avail early-stage project preparatory funding to finance the preparation of bankable feasibility studies. The Pre-Mandate Letter appoints Afreximbank to perform certain tasks in advance of the project attaining bankability aimed at raising the debt facility amount, currently estimated at US$ 2.1 billion.



Under the terms of the agreements, signed during the Afreximbank Annual Meetings (AAM2023), Afreximbank committed to prescribe financial solutions, including project preparatory support, project financing, syndication and financial advisory services, and risk bearing instruments, to enable the project attain a timeous financial close.



The Bank believes that pursuing railway investments along the continent’s trade corridors would expand existing capacities and create new routes, links and pathways for value-added goods to be transported from manufacturing and processing areas to regional and global markets, thereby promoting intra-African trade within the AfCFTA context. This is evidenced by new mining projects and expansion of existing mining projects being planned in the country that stand to benefit from the project through more efficient and competitive transportation of imports and exports thereby boosting trade, regional integration and overall economic development.



Prof. Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank, said, “The Western Railway Corridor project is a vital transport network for Ghana, and Afreximbank’s support is in line with our commitment to help member countries address key trade-enabling infrastructure bottlenecks through private sector-led investments that will unlock significant pent-up demand for Ghanaian mineral and agricultural commodities in regional and international markets. Am particularly thrilled that in this project, Afreximbank and its partners are pioneering our innovative non-recourse project finance solution premised on freight volumes and not member countries debt-carrying capacity. Such novel approaches present concrete&nbsp;steps Afreximbank is taking towards paving the way for member countries economic transformation. We look forward to rolling out this solution to other member countries across the continent.”



The project, when fully implemented, is expected to reduce transport costs by 30 per cent, increase the safety and reliability of transport services, and stimulate Ghanaian trade and economic growth.&nbsp;&nbsp;About 5,000 jobs are expected to be created directly during the implementation phase, with another 50,000 indirect opportunities created along the railway corridor in addition to the training of 400 citizens of Ghana to participate in all levels of the project implementation. The railway line will also facilitate the export of minerals and commodities resulting in at least US$ 950 million of trade per annum.

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Afreximbank and Ghana Railway Company to develop Western Railway Corridor to boost Trade and Industry

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Accra, 21 June 2023: &#8211; The African Export-Import Bank (Afreximbank), in collaboration with the AfCFTA yesterday in Accra launched the Africa Trade Gateway (ATG), a suite of five digital platforms that have been designed as a single window to enable the Bank better deliver on its mandate by providing critical services to support and promote African trade and the implementation of the African Continental Free Trade Agreement (AfCFTA).



Launched by Kanayo Awani, Executive Vice President, Intra-African Trade Bank, of Afreximbank on the sidelines of the ongoing 30th Afreximbank Annual Meetings (AAM2023), in the presence of Dr Ernest Addison, Governor-Bank of Ghana and Mrs Emily Mburu-Ndoria, Director-Directorate of Trade in Services, Investment, IPR and Digital Trade, AfCFTA who represented HE Wamkele Mene, Secretary General, AfCFTA, the gateway digital ecosystem comprises the MANSA (due diligence platform), the Pan-African Payment and Settlement System (PAPSS), the TRADAR Club, the Africa Trade Exchange (ATEX) and ATG Connect.



Addressing guests at the launch, Ms. Awani said that Afreximbank’s digital evolution was part of its deliberate strategic response to address Africa’s key challenges to accelerate the pace of development and foster economic prosperity for Africans using and applying digital technologies and business models.



“Each one of our digital interventions is designed to address clearly identified challenges and barriers for those seeking to engage in African trade and investment. I am pleased that each intervention has been successfully transformed from concept to reality and commend the hard work of our colleagues and partners in achieving these milestones. But to consolidate results, maximize net effects, achieve greater efficiencies, drive higher synergistic value, quicken regional integration, extend and create new access markets and accelerate digital economy in Africa, the Bank is introducing customer-centric Africa Trade Gateway.”



She described ATG as the gateway into a definitive digital ecosystem made for Africa’s trade, supported by Afreximbank and the AfCFTA in collaboration with their partners, to answer the needs of businesses, governments and stakeholders by enabling trade, commerce and investment.



With the ATG,&nbsp; customers could complete all their transactions within one window, explained Ms. Awani.



MANSA, Africa’s due diligence platform, provides a single source of primary data required for the conduct of customer due diligence on African entities, financial institutions, corporates and SMEs. It also provides complementary collection of information on investment in Africa, country profiles and traded products/services of African countries.



PAPSS was established to enable efficient payment for intra-African trade in national currencies, promoting intra-African trade, minimising risk and contributing to financial integration across Africa. In July 2019, African Union heads of state meeting in Niamey, adopted PAPSS as the payment and settlement system to support the implementation of the AfCFTA. It currently operates out of Cairo.



TRADAR Club, is member-driven network aimed at empowering international businesses and executives to transform trade and investments in Africa through trusted trade intelligence and advisory services through innovative digital tools and networking opportunities, helping members to discover new markets; grow their business; save time; access dedicated expert support; post and respond to new business opportunities; network; meet business/trading partners, etc.&nbsp; Membership is open to global industry leaders, African and foreign businesses, intergovernmental organisations, policy makers and others committed to unlocking growth and development in Africa.



ATEX is a B2B and B2G e-commerce platform launched at the 54th Conference of African Ministers of Finance, Planning and Economic Development in Dakar in May 2022, to help small and medium scale and large African businesses to tap into new markets in Africa and to facilitate the optimisation of their supply chains. It enables procurement in bulk for basic commodities to ensure access to suppliers in a transparent manner.



ATG Connect serves to connect business service providers across Africa. It provides freight and logistics connectivity solutions which allow for frictionless connecting and matching of freight/ logistics requests with freight and logistics providers listed on the platform. Customers can get quotes for the pickup and delivery of goods to and from any location in Africa at a very competitive price.



The launch ceremony included presentations on the services available under the various digital platforms and a panel discussion by the heads of the platforms during which they discussed the services they offered in support of trade across Africa and the implementation of the AfCFTA.

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Afreximbank launches Africa Trade Gateway, a single window for digital services

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<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
ACCRA, 19 JUNE 2023: The African Export-Import Bank (Afreximbank) and ARISE Integrate Industrial Platforms (ARISE IIP) today in Accra signed a term sheet for a US$400 million tranche under a proposed US$1 billion global credit facility to support ARISE IIP in the development of industrial parks and Special Economic Zones (SEZs) in several African countries and to avail funding to meet trade finance requirements and to finance capital expenditure in support of expansion of operating Industrial Parks..



Signed by Ms. Kanayo Awani, Executive Vice President, Intra-African Trade Bank, for Afreximbank, and Gagan Gupta, CEO ARISE IIP, for the company, at the ongoing Afreximbank Annual Meetings, the facility represents a continuation of the support provided by the Bank to ARISE IIP with close to US$700 million availed to the company over the past decade for the development of industrial parks and special economic zones in Gabon, Togo and Benin.



Afreximbank has also invested in ARISE IIP through its Fund for Export Development in Africa which availed a convertible loan to ARISE IIP in 2022.



Afreximbank is cognizant that most economies with the fastest growing exports have well-developed SEZ programmes which have led to employment creation. SEZs also help to structurally transform economies away from informality, promoting industrialization and supporting the growth of Intra-African trade and investments.



The ceremony also featured the signing and entry into force of a collaboration agreement between Malawi and ARISE IIP for the design, development, and operation of two world-class industrial parks and SEZs in Lilongwe and Blantyre to assist in closing gaps in industrial infrastructure to support the country’s focus on export manufacturing to transform its economy and generate jobs. The two projects are expected to attract investment exceeding US$900 million and generate around 200,000 direct and indirect jobs in the country.



Afreximbank supported the Government of Malawi to develop the projects from early stages up to bankability, including providing financing and technical assistance through its Project Preparation and Export Development departments.



The collaboration agreement addresses infrastructure gaps as the Government of Malawi seeks to accelerate structural transformation away from primary commodity exports to value addition.



In addition, Afreximbank and the Government of Malawi signed the renewal of an existing MOU geared towards the swift implementation of industrial projects, mega farms and an Export Trading Company. These initiatives are expected to generate investments exceeding US$1.5 billion in the short to medium term, with Afreximbank expected to provide advisory services to support effective implementation of the integrated development strategy, facilitating twinning and matching services to attract African direct investment, introducing and supporting African EPC companies.
</blockquote>

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ARIISE, AFREXIMBANK SIGN TERM SHEET FOR US$400 MILLION FACILITY FOR INDUSTRIAL PARKS

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/06/Award-101-1-820x547.jpg" alt="" class="wp-image-425638" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/06/Award-101-1-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/06/Award-101-1-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/06/Award-101-1-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2023/06/Award-101-1-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/06/Award-101-1-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2023/06/Award-101-1-scaled.jpg 2048w" sizes="(max-width: 820px) 100vw, 820px" /></figure>



The inaugural awards ceremony comes as African Export-Import Bank (Afreximbank) celebrates its 30th anniversary this year



<ul>
<li>Aliko Dangote GCON, Chairman &amp; CEO of Dangote Group wins the Afreximbank Founder of the Year Award having recently opened his $19bn petrochemicals plant and Africa’s largest refinery</li>



<li>Ethiopian Airlines, which distributed critical medical equipment and vaccines across the continent, wins the Pan-African Business of the Year Award. MTN and Elsewedy Electrical were also recognised for their pan-African achievements</li>



<li>Industry greats Zimbabwean Strive Masiyiwa and the Togolese Koffi Gervais Djondo receive Special Recognition awards for their outstanding contribution to the transformation of African business and industry</li>



<li>National Bank of Egypt, First Bank of Nigeria and Coris Bank all recognised for their contribution towards trade finance</li>
</ul>



19th of June 2023, Accra, Ghana – At a Gala Dinner attended by leading dignitaries, the African Export-Import Bank (Afreximbank), which this year celebrates its 30th anniversary, hosted the inaugural Pan-African Business and Development Awards in association with the Business Council for Africa, in Accra, Ghana.



The Pan-African Business and Development Awards were designed to celebrate and recognise the excellence of outstanding organisations and individuals within the African business and finance sectors.



The evening recognised some leaders in African business, and Aliko Dangote (GCON) won the Afreximbank Founder of the Year in recognition of his extraordinary achievements building one of Africa’s leading industrial groups with a truly pan-African footprint. This comes on the back of the recent official opening of his $19bn petrochemicals plant and Africa’s largest refinery, which received substantial support from Afreximbank.



Two other greats of industry, the Zimbabwean Strive Masiyiwa and the Togolese Koffi Gervais Djondo were also recognised for their outstanding contributions to African business and industry. Masiyiwa is the founder of Liquid Intelligent Technologies, which has the largest network of fibre optic cables on the continent, Cassava Technologies, and Econet, the largest telecoms and mobile payment operator in Zimbabwe. Djondo helped found Ecobank, the leading African group in terms of footprint, as well as regional airline Asky.



The Pan-African Business of the year went to Ethiopian Airlines which has had phenomenal success and showcases the best of Africa: a profitable and well run airline that rose up to the challenge of Covid, working alongside Afreximbank and the Africa CDC to distribute critical medical equipment and vaccines across the continent.



Telecoms operator MTN and Egyptian business ElSewedy were also given Special Recognitions in this category. MTN was recognised for transforming the Africa telecoms sector and ElSewedy for its role in the Africa infrastructure sector. ElSewedy and Afreximbank have built a strong relationship that has seen its group become a true continental champion and part of a consortium of African banks and private sector companies that are building the multi-billion dollar Julius Nyerere Hydropower Project in Tanzania.



Three banks were recognised in the Financial Institutions of the Year category. National Bank of Egypt, First Bank of Nigeria and Coris Bank, an important regional player in West Africa that started off in Burkina Faso, were chosen based on their volume of trade finance facilities they have utilised.



Eight recognition awards were also handed to some staff members of Afreximbank to acknowledge their long service at the Bank, including Prof. Benedict Oramah, President and Chairman of the Board, who has been at the Bank for over 29 years.



Commenting on the Awards ceremony, he said: “Tonight we are recognising so many outstanding leaders. Having joined the Bank in 1994, I have been fortunate to have worked with so many of them, and to have seen them grow. We have supported them during this journey and they have helped make the Bank what it is today. These are the mutually beneficial partnerships that will help transform the continent we so love. At Afreximbank, contributing to Africa’s development is a lifetime vocation, as I know it is for all those that we have recognised tonight.”



In recognising these leaders and institutions, Arnold Ekpe, chair of the BCA and former Group CEO of Ecobank, said: “Too often our business leaders do not get the praise they deserve. Succeeding in business on the continent is not always easy, but it is rewarding and more importantly it is possible to build strong, profitable businesses that are globally competitive. Our winners tonight have demonstrated this.”



The Awards were launched by Afreximbank in association the BCA, and this year’s Awards were organised in collaboration with IC Publications and Brand Communications. They were launched to recognise those organisations and leaders that epitomise the Pan-African spirit by leading the way in building substantive and transformational cross border businesses.



&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; WINNERS



Pan-African Business of the Year



Winner: Ethiopian Airlines



Special Recognition:



ElSewedy Electricals



MTN Group



Afreximbank Founder of the Year



Winner: Aliko Dangote [GCON], Chairman &amp; CEO, Dangote Group



Special Recognition:



Koffi Gervais Djondo, Founder, Ecobank, Founder, Asky Airlines



Strive Masiyiwa, Founder Liquid Intelligent Technologies, Founder, Econet Global and Econet Media, Founder, Cassava Technologies



Financial Institutions of the Year



National Bank of Egypt



First Bank of Nigeria



Coris Bank

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Titans of business recognised at the Afreximbank Pan-African Business and Development Awards

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MultiChoice Africa Holdings (“MultiChoice Africa”) has demonstrated remarkable resilience and achieved profitability, solidifying its position as a leader in African entertainment.



With the release of MultiChoice Group&#8217;s (MCG) FY2023 financial results, MultiChoice Africa proudly announces its return to profitability, marking a significant milestone in the company&#8217;s journey.



Despite challenging market conditions, MultiChoice Africa&#8217;s unwavering dedication to telling African stories and its ongoing investment in local content has been a driving force behind its success in a highly competitive sector. It has demonstrated its commitment to growing, amplifying and multiplying Africa through the power of entertainment, the power of its stakeholders and the power of its people, evident through this promising set of results.



&#8220;Our industry has faced numerous challenges in recent times,&#8221; says Fhulufhelo Badugela, Chief Executive Officer of MultiChoice Africa. &#8220;However, we have risen above these challenges, leveraging our strengths to overcome them, and that is something we take great pride in.&#8221;



Over the past financial year, MultiChoice&#8217;s Rest of Africa business not only returned to profitability but also expanded its consumer services ecosystem. With the FIFA World Cup and popular local content such as Big Brother Naija, the Rest of Africa business witnessed substantial growth, adding 1.4 million 90-day active subscribers and reaching over 14 million households across the continent.



Driven by its commitment to local storytelling, the broader MultiChoice Group invested in local content, empowering African talent and fostering a thriving creative industry. In its financial year 2023, local content accounted for 50% of the Group’s total general entertainment spend, surpassing this target one year earlier than expected. The group&#8217;s local content library now boasts over 76,000 hours, with local content production delivering a 9% year-on-year increase to 6,587 hours.



Despite liquidity challenges in Nigeria, MultiChoice Africa successfully repatriated cash throughout the year. The company also launched five additional local channels across the continent, including Uganda, Ethiopia, and Ghana, while popular shows continued to achieve record viewership across various platforms.



As Africa&#8217;s unrivalled champion in sports entertainment, MultiChoice Africa delivered the best action from across the globe to its fans through SuperSport. The company&#8217;s highlights included the live broadcast of all 64 FIFA World Cup matches, accompanied by local language commentary in 11 languages across eight markets.



Furthermore, the MultiChoice Group has partnered with Comcast&#8217;s NBC Universal and Sky to drive Showmax&#8217;s market leadership in streaming on the continent. This partnership will ensure customers have access to a more diverse range of local and international content, supported by Peacock&#8217;s world-class, scalable platform.



In May MultiChoice announced a joint venture called Moment, which will be offering expanded payment infrastructure across Africa. Moment aims to transform the African payments landscape by making digital payments more accessible and reliable for domestic, cross-border and global payments.



&#8220;With the investments made over the past year, we are on track to transform from a traditional pay-TV platform to a broader ecosystem underpinned by technology.&#8221;



By continuing to invest in African stories, MultiChoice Africa is committed to cementing its position as a platform for local storytellers, celebrating and sharing the rich heritage and cultural tapestry of the continent with the world.



&#8220;As we navigate this ever-evolving industry, we stand strong, ready to deliver compelling African content that captures the hearts and minds of audiences across the continent,&#8221; concludes Badugela. &#8220;We are excited about our prospects and remain dedicated to making significant strides toward a profitable future as Africa&#8217;s most loved storyteller.&#8221;

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MultiChoice Africa Returns to Profitability, Affirms Commitment to African Entertainment

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Accra, 18 June 2023: – The 30th Annual General Meetings of the African Export-Import Bank (Afreximbank) opened in Accra today with speakers highlighting the need for Africa to boost intra-African trade and integration in the face of the challenges resulting from the impact of the global COVID-19 pandemic and the adverse economic challenges due to the Ukraine crisis and other global conflicts.



The Afreximbank Annual Meetings (AAM2023), which end on 21 June, is also being held to celebrate the 30th anniversary of the establishment of Afreximbank.



Mohamed Ahmed Maait, Minister of Finance of Egypt and Chairman of the Afreximbank Annual Meetings, who was represented by Gamal Negm, Deputy Governor of the Central Bank of Egypt, told participants that Africans must work collaboratively towards finding integrated solutions to the new challenges confronting the continent.



Mr. Maait lauded Afreximbank for playing a significant role in developing and implementing solutions to address the challenges confronting Africa and expressed the hope that AAM2023 would lead to even more constructive solutions to Africa’s problems, describing the Bank as one of the African institutions delivering on the African Union’s (AU) Vision 2063.



Earlier, Dr. Honorable Ernest Yedu Addison, Governor of the Bank of Ghana, delivering his welcome remarks, said that Ghana represented the most appropriate venue for the celebration of Afreximbank’s 30th anniversary, given the Bank’s role in developing and promoting African trade and the fact that Ghana was the home of the African Continental Free Trade Area (AfCFTA) Secretariat.



Dr. Addison said that Afreximbank had been very supportive of Ghana and had, over the years, provided more than two billion dollars to support the Ghanaian economy.



He commended Afreximbank for the approach it adopted in its work which emphasised a collaborative approach in dealing with other continental institutions.



In his contribution, Wamkele Mene, Secretary-General of the AfCFTA Secretariat, said that with the inclusion of a vision for an integrated African market in the founding treaty of the OAU, the founding fathers of the AU had foreseen the need for Afreximbank.



That vision had been grounded in the objective of the integration of African trade finance, he noted.



Describing Afreximbank and the AfCFTA as twins born 30 years apart, Mr. Mene noted that if trade barriers were eliminated but there was no trade finance, all the efforts would come to nothing. At the same time, if trade finance was available but trade barriers persisted and prevented trade, then all the efforts would still have been wasted.



Mr. Mene commended the support and collaboration which Afreximbank had provided for the&nbsp; implementation of the AfCFTA, including the introduction of the AfCFTA Adjustment Fund and the establishment of the Pan-African Payment and settlement System (PAPPS). That support was critical as Africa sought to rely on itself to create a better future, he added,



Delivering a keynote to kick off the first panel session of the day, Mahamadou Issoufou, former President of Niger, said that with Africa accounting for a significant proportion of the world’s arable land, it was time for the continent to be able to feed itself, noting that a focus on agriculture and agro-industrtialisation would also lead to creation of employment.



Mr. Issoufou commended Afreximbank for its support for the AfCFTA project, which had included supplying indispensable personnel, in addition to making investments, such as the AfCFTA Adjustment Fund to help countries adapt to the AfCFTA and improve their ability to compete in the new trade regime for which the Bank had already provided $1 billion.



Afreximbank had also launched PAPSS in order to allow for intra-African trade payments to be done in local currencies, he noted. It had also introduced the Intra-African Trade Fair (IATF), a platform for exchange which Africa needed in order to meet the needs of the AfCFTA.



The morning also featured panel sessions on: Turbo-charging implementation of the AfCFTA; Building prosperity for Africans: the challenges of peace and security; and What would it take for Africa to feed itself – overcoming the challenges of food security for sustainable development in Africa; as well as a conversation with Aliko Dangote, Group President/Chief Executive of Dangote Group.

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Afreximbank’s Annual Meetings 2023 opens in Accra with calls for more intra-African trade

African Agriculture, Inc. (AAGR) is a US-based for-profit entity addressing the expanding regional and global challenges of food security and the resilience of food and food supply chain systems.



AAGR is primarily a producer of necessary staples for cattle feed, primarily alfalfa, looking to expand existing production for local, regional, and export consumption from its current operations in West Africa. A critical component of livestock feed, and therefore food security, alfalfa hay currently commands record high prices.



Impacted by the Covid-19 pandemic, the Russian-Ukraine war and the severe drought since 2021 in the Western US, one of the largest alfalfa production areas in the world, the global market is poised to grow significantly. The company seeks to expand plant-based protein source production, through collaboration with local farming collectives, providing nutrition for local and regional consumption, and simultaneously driving export-based revenue and corporate profitability.



The company is confident it addresses numerous United Nations Sustainable Development Goals in its approach (albeit accidentally), as it diversifies its production offering, and exposure to climates and regions across the African continent.



“We recognized that we had a very unique geographical location to produce alfalfa,” says Chairman and CEO, Alan Kessler. “Not only is the Sahara sun a perfect operational partner–the old adage to make hay while the sun shines–but the abundance of cattle in the Sahel, quoted as over 200 million heads of cattle provides a massive market opportunity both locally and regionally for our product.”



“Local dairy and beef production is evolving as a consequence of the scaled production of our product, developing local food access, and minimizing the economic waste of imports and foreign exchange utilization. As the company looked beyond alfalfa, the key was to look for reasons for yield discrepancies in agricultural production in say, Western Europe, and that of the African continent,” he adds.



“Consistent power, farming management, machinery and capital access, logistics, agronomy, soil understanding need to be addressed. I am very proud of the experienced management team and board of directors all of whom have substantial operational experience on the African continent. We are all aligned and driven to achieve our vision.”



After considerable investment in infrastructure and feasibility studies, AAGR began its commercial alfalfa operations early in 2022 and is already seeing considerable success in transforming desert-like arid conditions to ideal growing conditions for alfalfa. AAGR is already achieving worldclass yields and quality, and is working to expand its capital base to increase its production capability.



In 2021, AAGR signed an agreement with Louisiana State University’s Agcenter to bolster education and training in Senegal. Additionally, AAGR recently signed a letter of intent with the College of Agriculture and Natural Resources at Michigan State University (MSU), to further develop the fields of soil science, agronomy, cattle nutrition, emissions, and animal genetics in Mauritania, an area of development for AAGR.



“The opportunity to work with US tertiary institutions with vast agricultural knowledge is a great pathway for skills transfer and development,” says Kessler. The company aspires to be positioned at the nexus of precision agriculture, yield optimization, and climate-smart approaches, on a continent that possesses the optimal growth conditions to address global food security challenges.



“African assets have historically been ascribed an Africa discount by global investors, given lack of liquidity in local capital markets, lack of strategic exit options, and historically challenged governance structures. Given Africa’s superior sun exposure, water purity, scalable land, extended and consistent



growing seasons that mitigate supply chain disruptions, a young and motivated local population, with a legacy in agriculture, and growing improving logistical capabilities, African agricultural opportunities should command an investment premium,” Kessler concludes.



In terms of impact, AAGR is dedicated to its local communities by partnership, creating employment and providing sustainable development. Like its icon the Baobab tree, the group believes in the ecosystem and the community which it fosters. In Senegal, this is apparent in their local land program which allocate 2000 hectares to the population of the villages of the Ndiael Reserve (Inter-Villagers Association living inside) each year. These lands are divided equally between the company’s two main local Communes of Ronkh and Ngnith. In addition, AAGR grants village organizations the distribution of alfalfa for their livestock feed. Moreover, they have implemented a maternal health program, “Shuttle for Sonograms” Before this shuttle, pregnant woman had to walk 52 kilometers on degraded roads to get Sonograms. The group now takes them in company shuttle buses to get necessary care. AAGR is currently working to repair schools, donate computers, reopen health facilities, and construct the Great Mosque of the Commune of Ngnith which covers 74 villages. They have started a dental program, working with a high school student group from the United States to boost dental awareness and provided the basics of dental health for 15,000 people. Officially they work for sports and community cohesion, via the local sports teams. AAGR defines their success in the growth of local communities. The private sector investment is anticipated to contribute to employment and economic development directly, and will include a Corporate Social Responsibility (CSR) program that will enhance the agricultural and agronomy tertiary education at ENFVA (Ecole Nationale de Formation et de Vulgarisation Agricole), an established agricultural education center in the city of Kaédi, and a women&#8217;s reinsertion program in Mauritania. <a href="http://www.africanagriculture.com">www.africanagriculture.com</a>

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Making Hay Under The African Sun

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="546" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/05/Brian-Mpono-Oceans-UMhlanga-Mixed-Use-Development-CEO-820x546.jpg" alt="" class="wp-image-424889" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/05/Brian-Mpono-Oceans-UMhlanga-Mixed-Use-Development-CEO-820x546.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/05/Brian-Mpono-Oceans-UMhlanga-Mixed-Use-Development-CEO-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/05/Brian-Mpono-Oceans-UMhlanga-Mixed-Use-Development-CEO-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2023/05/Brian-Mpono-Oceans-UMhlanga-Mixed-Use-Development-CEO-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/05/Brian-Mpono-Oceans-UMhlanga-Mixed-Use-Development-CEO.jpg 1024w" sizes="(max-width: 820px) 100vw, 820px" /></figure>



From humble beginnings, Brian didn’t settle into the welder role that was thrust upon him at the age of 16. Instead, he used this hunger to transform his destiny. After graduating from the University of KwaZulu-Natal with a Bachelor of Human Sciences in Media Communications and Management, he worked his career as a marketing, PR, and communications professional followed, but the entrepreneurial bug bit and in 2009, Brian started his own Biodiesel (500,000liter per month processing &amp; refinery plant) business in 2009. Staking his claim as the first young black South African in the renewable energies market, a title that also saw him develop and lead a series of infrastructure projects in the sector.&nbsp;



His foray into energy landed him an introduction to Vivian Reddy. Brian worked his way up to being Head of Corporate Affairs, Chief of Staff to Executive Director of Edison Power. His high ambitious character from the day he walked through the doors of Vivian Reddy’s offices, he equally grew to be an integral part of Vivian Reddy’s flagship development that is the R4,3bn International Award-Winning Oceans Umhlanga Mixed-Use Development. Starting off by spearheading the IPO (under a billion rand Capital Raising) for the hotel portion (officially called Radisson Blu Hotel Durban Umhlanga). It is the biggest private mixed-use development in South Africa. Being the voice and face of the game changing investment, Brian serves as the Group Corporate Affairs Executive [CEO] for entire Oceans Umhlanga Development, in KZN he’s become known affectionately as “Mr. Oceans” and in very serious senior&nbsp; Corporate &amp; Professional circles he’s referred to as Vivian Reddy’s Right-Hand Man who travels the world advocating for not just the business hes involved in but the business of tourism, foreign &amp; local investment into the city of durban; whos overall focus has been to grow and build the 45year old Edison Corporation empire founded by business titan Vivian Reddy.



Brian Mpono is also the Group Marketing Executive for the Technodyn Group, a group of companies working in the dynamic Information Technology industry. In his role, he brings together the overall marketing strategy and market voice of the different businesses and creates cohesion between its brands to facilitate its business strategy. Technodyn IFS being the biggest in the group of companies.&nbsp; A disruptor with a keen sense for business and a DNA entrenched in innovation, Brian is a serial entrepreneur and consummate marketing professional, melding his expertise to multiple industries with great success. At the Technodyn Group of Companies, he uses his extensive understanding of business, passion for mentorship, and dedication to socio-economic development, to drive the organisation into new markets while helping clients realise the value of leveraging data and technology to unearth the secrets to success their businesses hold. He travels Africa for TDG, the biggest tech infrastructure company in Africa, which bought the rights for Africa of two multi billion dollar European and US tech companies to unearth the vast potential on the African continent. It’s products service the entire US Navy, the majority of the aviation world runs on the tech that TDG deploys in Africa.&nbsp;



An energetic, pioneering, and passionate speaker, Brian has continued his personal growth and attended the Gordon Institute of Business Science. His trophy cabinet boasts accolades such as inclusion in the 60 Most Enterprising South African, Sowetan Top 100 Bosses, finalist in the Under 35 Maverick Award for High-End Innovation, and a Disruptor in The Young Independents: Mzanzi100.&nbsp;&nbsp;

Brian-Mpono-Oceans-UMhlanga-Mixed-Use-Development-CEO

OCEANS UMHLANGA MIXED-USE DEVELOPMENT

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="605" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/05/Florie-and-Pres.-Masisi-820x605.jpeg" alt="" class="wp-image-424843" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/05/Florie-and-Pres.-Masisi-820x605.jpeg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/05/Florie-and-Pres.-Masisi-300x221.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/05/Florie-and-Pres.-Masisi-122x90.jpeg 122w, https://cms.cnbcafrica.com/wp-content/uploads/2023/05/Florie-and-Pres.-Masisi-768x566.jpeg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/05/Florie-and-Pres.-Masisi.jpeg 960w" sizes="(max-width: 820px) 100vw, 820px" /></figure>



Washington DC – During a visit to Gaborone, Botswana, Corporate Council on Africa (CCA) President and CEO Florizelle “Florie” Liser was honored to meet with H.E. Mokgweetsi Masisi, President of the Republic of Botswana, who reiterated his Government’s commitment to successfully co-hosting &nbsp;the 15th U.S.-Africa Business Summit (USABS) in Botswana later this year.&nbsp; President Masisi noted that key Cabinet officials who were in attendance at the meeting were ready to mobilize their ministries and work collaboratively with CCA and the private sector to organize a highly successful Summit. Following several days of government and private sector meetings as well as site visits, Ms. Liser was pleased to announce with Minister of Investment, Trade and Industry, Hon. Mmusi Kgafela that the Summit will be held July 11-14, 2023 in Gaborone. The announcement was made Friday, February 3, 2023 at the Minister’s office along with the signing of an agreement between CCA and the Government of Botswana.



The U.S.-Africa Business Summit is the Corporate Council on Africa’s premier annual event, bringing together African heads of state, senior U.S. and African government officials, and top CEO’s and senior business executives from the U.S. and Africa spanning major business sectors that are critical to the continent’s development. &nbsp;These include infrastructure, ICT / digital, health, energy, mining, agriculture, consumer goods, finance, tourism and creative industries.



The 15th USABS theme “Enhancing Africa’s Value in Global Value Chains” highlights an issue that was heavily discussed during the U.S. &#8211; Africa Business Forum, hosted by President Joseph R. Biden on the second day of the U.S.-Africa Leaders Summit in Washington, DC in December 2022.&nbsp;During the Forum, President Biden announced more than $55 billion in new U.S. government programs to support trade, investment and development in Africa along with more than $15 billion in new trade and investment deals made by private sector companies that were in attendance.&nbsp; CCA was proud to have co-organized the U.S.-Africa Business Forum which highlighted opportunities for greater collaboration between the U.S. and African private sector.&nbsp; This year’s CCA Summit will build on and advance those discussions, further deepening U.S.-Africa economic engagement and business ties.&nbsp;



With a desire to keep the positive momentum going from the U.S.-Africa Leaders Summit and Business Forum, Ms. Florie Liser stated that &#8221; the U.S.-Africa Business Summit is an important platform and opportunity to again bring together U.S. and African government and private sector leaders to grow U.S.-Africa trade, business, and mutually beneficial gains for the people and businesses of both the United States and Africa.”



Minister of Investment, Trade and Industry the Honorable Mmusi Kgafela said, “We look forward to working with our partners at the Corporate Council on Africa to herald a new era of two-way trade and investment between Africa and the United States. We welcome U.S. private sector businesses to drive investment and technology that can enhance Africa’s role in key global value chains, create jobs, and spur economic growth here in Botswana and across the continent.”

Florie-and-Pres.-Masisi

U.S.-Africa Business Summit to be held July 11-14 in Gaborone, Botswana

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/05/hand-with-card-laptop-820x547.jpg" alt="" class="wp-image-424963" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/05/hand-with-card-laptop-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/05/hand-with-card-laptop-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/05/hand-with-card-laptop-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2023/05/hand-with-card-laptop-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/05/hand-with-card-laptop-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2023/05/hand-with-card-laptop-scaled.jpg 2048w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Hands holding credit card and using laptop. Female hands making online payment. Purchase and Buy online. Online shopping. Business infographic</figcaption></figure>



Technological solutions that embrace the needs of the customer; that reshape the payments, financing, and banking structure; and that embed speed, service and real-time visibility into transactions and engagements – these are the innovations that sit at the very edge of the digital transformation frontier. These are the steps financial services organisations take as they seek out new ways of connecting with customers, building market share and building stable foundations that are capable of withstanding the aftershocks of global uncertainty.



Digital innovation has become the de facto step taken by companies that want to thrive. This is reflected by a growing evolution in digital services and investments. A recent KPMG report entitled ‘<a href="https://assets.kpmg.com/content/dam/kpmg/cn/pdf/en/2021/04/accelerating-digital-finance.pdf">Accelerating digital finance’</a> found that the customers of 2023 are likely to be far more demanding when it comes to personalisation, frictionless transactions, and protection of their data. It’s an interesting shift that is already playing out – <a href="https://aws.amazon.com/blogs/industries/customer-experience-transformation-in-banking/">Amazon’s Banking Trends 2022</a> highlights how customers want frictionless and instant access to banking solutions, while <a href="https://www.accenture.com/us-en/insights/banking/consumer-study-making-digital-banking-more-human">Accenture</a> underscores the importance of understanding the ever-changing customer.



So, what does this mean? It means that technologies such as artificial intelligence (AI) and automation will very likely pick up the weight of the admin and enhance the organisation’s ability to develop micro services that are curated to meet specific customer demographics and expectations. In a recent article from <a href="https://www.sciencedirect.com/science/article/abs/pii/S0275531922000046">Science Direct Research in International Business and Finance</a>, the authors state that AI is rapidly evolving to become a key selling point for financial institutions as it allows for improvements across reputation, trust and capability. It also supports one of the key challenges faced by financial institutions today – cybersecurity. AI is invaluable in lifting the digital load and helping financial institutions to create frictionless experiences for their customers while protecting critical assets and embedding trust across customers and stakeholders.



Personalisation is also, of course, a critical factor when it comes to digital innovation within this sector. A recent study released by Genesys on the <a href="https://www.prnewswire.com/news-releases/new-banking-study-reveals-growth-benefits-of-personalization-innovation-and-trust-in-customer-experience-301674711.html">challenge of customer-centric banking</a> found that financial institutions that are capable of delivering high-end customer experiences are also more likely to attract new customers, achieve their strategic objectives and hold on to their talent.



Personalisation is more than a nice idea – it’s critical to ensuring that customers remain engaged and connected to the financial institutions they choose. The Genesys report also found that 61%&nbsp;of banking executives felt that customer expectations are rising and 45% said that they are struggling to keep up with them. But keep up they must, because customers are increasingly rejecting generic products and solutions that don’t reflect their identity or their needs.



Nedbank believes that there are three key steps for ensuring that the financial institutions can leverage digital and accelerate innovation. The first is to focus on digital services that are designed to support everyday activities but that are also supported by people-centric engagements and touchpoints. This means taking personalisation beyond technology-powered connections and capabilities and ensuring that there is always a human element ready to step in and nurture the customer at points of frustration, and at times when there is room to nurture their potential. Here, digital innovation needs to be paired with a personalised, flexible and proactive approach that combines digital services with hands-on expertise.



Secondly, financial institutions need to provide customers with access to relationship bankers, specialists and customer service desks that are agile enough to meet customers where they are today and take them where they need to be tomorrow. It’s the evolution of digital from a functional toolkit that enhances the bank’s innate capabilities towards a sophisticated ecosystem that allows for more complex client-level decision-making. Digital when you want it, human when you need it, and innovative where it should be: at the center of the business.



This sits at the core of Nedbank Private Clients and our commitment to enabling financial aspirations within an ecosystem that is powered by digital and empowered by people. We believe that banking should be a complete experience, providing people with a dedicated relationship banker, preferential rates and support for careers and personal growth, as well as giving them access to relevant wealth solutions. With Nedbank you gain access to a personal success toolkit that’s driven by digital and innovation as well as a desire to ensure that people thrive in their careers and financial lives.



<a>For more information on our specialised</a> services and solutions, as well as tailored prices, contact us at privateclients@nedbank.co.za.

Hands holding credit card and using laptop

Personalisation meets cutting-edge technology: Unlocking the future of digital innovation in financial services

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="714" height="800" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/04/Dave-H-11-714x800.jpg" alt="" class="wp-image-424268" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/04/Dave-H-11-714x800.jpg 714w, https://cms.cnbcafrica.com/wp-content/uploads/2023/04/Dave-H-11-268x300.jpg 268w, https://cms.cnbcafrica.com/wp-content/uploads/2023/04/Dave-H-11-80x90.jpg 80w, https://cms.cnbcafrica.com/wp-content/uploads/2023/04/Dave-H-11-768x861.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/04/Dave-H-11-1370x1536.jpg 1370w, https://cms.cnbcafrica.com/wp-content/uploads/2023/04/Dave-H-11.jpg 1628w" sizes="(max-width: 714px) 100vw, 714px" /></figure>



In July 2022, a Notice amendment to the Compensation for Occupational Injuries and Diseases Act (COIDA) was introduced into law that impacts every employer in South Africa, including those who engage the services of domestic workers and gardeners.



Under this Notice, the Compensation Fund Commissioner sought to provide a regulated system of “no fault” compensation for injury or illness as a result of an individual’s occupation, and loss-of-income relief to an individual or their family, as well as claims for ‘reasonable medical expenses’.



It is a criminal offence for anyone who has not registered under COIDA, and, confirms Dave Honeyman, Head of Accidents and Health, SHA (a division of Santam) “this means that the 46% of South African companies (some 200 000) that have not registered, and likely millions of domestic worker employers, are now subject to a penalty or jail term.



“Any employer that thinks they can fly under the radar of this Act is mistaken. The Department of Labour has recently engaged additional inspectors who will be visiting businesses and homes, to check their registration status.”



May be wary of COIDA but Honeyman says they have no reason to be. “It’s good legislation because it addresses the historic unequal position that workers found themselves in when an employer denied them any form of compensation if they became critically ill, were injured or disabled, or died, as a result of their occupation.



Honeyman explains that in these circumstances through COIDA, income is protected up to 75% to a maximum claim of R529 264 per year “It is also relatively inexpensive at between two and three percent of the employee’s salary. This is a relief for claimants, but it can take up to a year for the claim to be verified.”



“It got us thinking that even if a person was not at a workplace and suffered an accident or injury that caused disability or death, the extended family would still be financially compromised.”



This is why SHA introduced the Employee Injury Assist policy. “This gap cover will pay within 48 hours on a health or accident event, even if such an event occurs outside of the workplace. It is, however, conditional on being registered with the Compensation Commissioner, which SHA undertakes to do on our client’s behalf,” says Honeyman.



The Employee Injury Assist policy is also far-reaching in its benefits for it bridges the potential one-year COID claim payout time gap, and offers additional benefits, such as facilitating a SHA initiated 24/7 ambulance request, as well as hospital admittance accompanied by COID forms. SHA will also monitor COID claims until the end of the claim process.



SHA has also appointed itself as custodians of COID because undertaking the training of health and safety officers, and brokers. &#8220;With our direct involvement we are seeing a 95% success rate for brokers signing up new policyholders.



Existing clients can simply add it onto their existing SHA policies, and new clients can apply online via SHA or face-to-face.

Dave-H-11

COIDA and Santam SHA work together to protect all employees

Across the globe, much of financial services are done using mobile phones. From point-of-sale purchases to sending money to friends or family, digital wallets and using apps for payable services such as rides, food delivery, and bill pay, our world is intrinsically tied to mobile digital financial services (mDFS). The potential to bring efficient, seamless, and easy access to money for citizens of countries in the midst of change is high- and so is the potential for fraud. Governments need to prepare for and defend against fraudulent actors. This involves investing in stronger infrastructure and deploying more secure production requirements as current ones become obsolete with a transition to 5G in many sectors. For example, many regions rely on unstable networks and have limited access to internet.&nbsp;



Limited resources can impede progress. The ever-expanding array of attacker strategies aimed at stealing or compromising financial and personal data, combined with continuing challenges in creating <a>a foundation</a> that provides access to both broadband internet and banking-related services, results in significant variations in the ability of both individuals and businesses to securely access mDFS.



In our quest to provide tech for public good, we at <a href="https://mitre-engenuity.org/">MITRE Engenuity</a> are rising to the challenge and have developed an analytical risk model that uses information from a nation’s current systems to produce recommendations of resource investments that will most efficiently lower risk associated with attacks.



The model provides a flexible yet consistent approach. First, it identifies the most relevant cybersecurity threats and obstacles to secure access <a>in a given</a> sector. Following this analysis, it then recommends the policy and technical approaches most applicable to expanding and improving secure mDFS access.



<h2 class="wp-block-heading" id="h-technical-policy">Technical + Policy</h2>



This model simultaneously draws upon a “unique blend of deeply technical subject matter experts across multiple disciplines,” says Cynthia Wright, model researcher and MITRE Principal Cybersecurity Engineer. She notes that it is based on a <a href="https://www.mitre.org/news-insights/publication/enhanced-cyber-threat-model-financial-services-sector-institutions">model</a> that pinpoints potential means of attack on financial services enterprises and its insights were mined from industries including “international cyber capacity building, cybersecurity engineering, systems engineering, and cyber threat intelligence.”


<div class="wp-block-image">
<figure class="aligncenter size-full"><img loading="lazy" decoding="async" width="1200" height="628" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/04/ABN-Graphics-mDFS-Graphic-1200x628-3.png" alt="" class="wp-image-424348" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/04/ABN-Graphics-mDFS-Graphic-1200x628-3.png 1200w, https://cms.cnbcafrica.com/wp-content/uploads/2023/04/ABN-Graphics-mDFS-Graphic-1200x628-3-300x157.png 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/04/ABN-Graphics-mDFS-Graphic-1200x628-3-820x429.png 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/04/ABN-Graphics-mDFS-Graphic-1200x628-3-160x84.png 160w, https://cms.cnbcafrica.com/wp-content/uploads/2023/04/ABN-Graphics-mDFS-Graphic-1200x628-3-768x402.png 768w" sizes="(max-width: 1200px) 100vw, 1200px" /></figure></div>


Drawing upon MITRE’s deep cyber threat modeling expertise and its <a href="https://www.mitre.org/news-insights/impact-story/mitre-strengthens-cyber-capacity-developing-nations">International Cyber Capacity Building Framework</a>, the MITRE Engenuity <a href="https://7754670.fs1.hubspotusercontent-na1.net/hubfs/7754670/Incubations%20Investments%20Papers/For%20Pub%20Engenuity%20mDFS%20Risk%20Model%20Development%20Report_ME0044_Final.pdf">mDFS Risk Management Model (RMM)</a> uses a “dual lens” approach that combines both technical and policy/governance risk factors and mitigants to create a comprehensive and multi-dimensional view of the challenges that threaten the mDFS ecosystems.



Cultivated from this extensive array of expert knowledge and resources, the mDFS RMM is one of the most comprehensive models ever developed for <a>the mobile</a> space. Users identify recommendations tailored to their country’s unique technology and policy environment that will reduce risk, improve access, and increase trust.


<div class="wp-block-image">
<figure class="aligncenter size-full"><img loading="lazy" decoding="async" width="1200" height="628" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/04/mDFS-Incorporates-1200x628-3.png" alt="" class="wp-image-424350" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/04/mDFS-Incorporates-1200x628-3.png 1200w, https://cms.cnbcafrica.com/wp-content/uploads/2023/04/mDFS-Incorporates-1200x628-3-300x157.png 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/04/mDFS-Incorporates-1200x628-3-820x429.png 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/04/mDFS-Incorporates-1200x628-3-160x84.png 160w, https://cms.cnbcafrica.com/wp-content/uploads/2023/04/mDFS-Incorporates-1200x628-3-768x402.png 768w" sizes="(max-width: 1200px) 100vw, 1200px" /></figure></div>


Validation results have arrived



Cynthia also shared that, as part of our support to the <a href="https://engineering.cmu.edu/news-events/news/2022/09/27-gates-foundation.html">mobile money cybersecurity initiative</a> for the <a href="https://www.gatesfoundation.org/">Bill &amp; Melinda Gates Foundation</a>, MITRE Engenuity conducted a study to test the efficacy of the RMM by applying it to several countries with very different technology and policy/governance ecosystems, for example levels of financial inclusion and access to internet connectivity: Bangladesh, Kenya, Nigeria, Rwanda, and Togo.



Overall, the research validated the RMM, since for each country it could identify a combination of technical and policy approaches that would more widely improve access and security than technical approaches alone can provide. In the next step of validation individuals and organizations deeply familiar with the countries will examine the policy/governance recommendations provided by the model and determine their relevance for assisting the countries in improving their mDFS ecosystems. (The technical security recommendations are straightforward and well-validated in other models.)



<h2 class="wp-block-heading">Accessing model output</h2>



As a companion to the model generating the recommendations, MITRE Engenuity developed a dynamic software platform that automates the methods that the model uses. This enables users who are not cyber experts to select relevant characteristics in the chosen community and use them to assess what risks are most prominent. The platform also generates both technical and policy/governance recommendations that can be used to apply risk mitigation strategies, such as enabling security mechanisms like PINs, passwords, and biometrics.



This platform is ready for pilot testing for a particular objective and application in any of the following use cases:



<ul>
<li>Donor Nations or Assistance Organizations:<ul><li>Use the RMM to identify which of the prominent risk factors in a specific country or area best align with assistance goals and resources, as an aid to focusing resourcing efforts.</li></ul>
<ul>
<li>Identify technology or governance approaches that are appropriate to a specific country as an aid to developing achievable goals and incentive initiatives.</li>
</ul>
</li>



<li>National Governments:<ul><li>Use the RMM to optimize limited resources by narrowing the risk landscape. Identify where policy/governance approaches can mitigate risks, even in a diverse technical ecosystem.</li></ul>
<ul>
<li>Identify incentives or disincentives that may affect mDFS access and security, such as specific policies toward licensing, fees, taxation, etc. Identify less obvious contributing factors to mDFS adoption and security, such as gender policies, education curricula, the presence of a national digital identification program, or the availability and security of agent networks, that could be modified through policy.</li>
</ul>
</li>



<li>Technology (including Fintech) Companies and Regulatory entities:<ul><li>Identify approaches such as specific technology features and standards that can provide widescale improvements in ecosystem security.</li></ul>
<ul>
<li>Identify national or regional trade and cooperation approaches that could help or hinder adoption of mDFS technologies, applications, etc.</li>
</ul>
</li>
</ul>


<div class="wp-block-image">
<figure class="aligncenter size-full"><img loading="lazy" decoding="async" width="1200" height="628" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/04/mDFS-Africa.Business-Imagery-1200X628-2.png" alt="" class="wp-image-424351" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/04/mDFS-Africa.Business-Imagery-1200X628-2.png 1200w, https://cms.cnbcafrica.com/wp-content/uploads/2023/04/mDFS-Africa.Business-Imagery-1200X628-2-300x157.png 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/04/mDFS-Africa.Business-Imagery-1200X628-2-820x429.png 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/04/mDFS-Africa.Business-Imagery-1200X628-2-160x84.png 160w, https://cms.cnbcafrica.com/wp-content/uploads/2023/04/mDFS-Africa.Business-Imagery-1200X628-2-768x402.png 768w" sizes="(max-width: 1200px) 100vw, 1200px" /></figure></div>


<h2 class="wp-block-heading">Give it a go</h2>



We think it is time for widespread use and feedback from the nations driving and benefiting from this work!



MITRE Engenuity wants to define and implement more features, engage with content creators or maintainers, and support ongoing development.&nbsp; But it needs input from real-world users. <a href="https://riskmodel.mitre-engenuity.org/">Access the tool and run a risk assessment</a>. The MITRE team is happy to accept questions about any of the topics discussed in this article or feature requests at mdfs@mitre-engenuity.org and to <a href="https://mitre-engenuity.org/growing-impact/cyber-risk-model-mobile-digital-financial-services/">read about the cyber risk model management tool</a>.

e-wallet-6368676_1280

Mobile money: finding security risks for investment opportunities

NEW Avon Hydramatic Matte Lipstick: bold on the outside, caring to the core



While history has it that the first commercial lipstick was invented in 1884 by French perfumers, lipstick dates back some 5000 years ago were ancient Sumerian and Indus Valley men and women were possibly the first to invent and wear it when they crushed gemstones to decorate their faces, mainly on the lips.



Since then, lipstick has become almost every woman’s darling best friend that she drapes on her lips and takes everywhere in the bag. Many research studies have discovered that lipstick has become much more than mere makeup but it’s become a tool of empowerment that enables them to present themselves and express their beauty. And, while colors and ingredients evolve as the years go by, the objective of applying lipstick doesn’t change: “to express inner beauty with outer self.”



One of the most popular lipstick types amongst women is the matte lipstick. Women love it because of its bold colors, ease of application, it’s customizable, water and smudge-proof, and its long-lasting. But there is a downside to it: the undesirable feeling of dry lips.



“Avon asked thousands of women around the world to share what they would love in their dream lipstick,” Lukasz Kowalczyk, Head of Onmichannel Brand Experience at Avon Justine. “They desire a matte lipstick with amazing color that stays matte but keeps their lips feeling moisturized.”



As a result, Avon, has launched a world-first matte lipstick with the bold colors that women love and a hyaluronic hydrating core which gives lips the moisture they crave. Avon’s new Hydramatic Lipstick is a matte lipstick with a revolutionary hyaluronic core that helps to hydrate lips.



Through the Hydramatic Lipstick, Avon’s team of scientists and experts have created a central core, powered by an exclusive blend of skincare ingredients: hyaluronic acid and glycerin, and surrounded it with intense matte colour.



The game-changing lipstick is available in 12 shades that are suitable for all skin tones, and retails at only ZAR129, true to Avon’s mantra that People #ChooseAvon for high quality products at a fraction of the cost.



Emily Howarth, Global Head of Make Up at Avon, adds: “There is nothing else like Hydramatic Matte Lipstick on the market. We’re proud to be the first to bring this groundbreaking technology to women all over the world at a price point which is accessible for all. Welcome to the new era of matte lipstick: bold on the outside and caring to the core – just like the women we’re proud to have supported for over 136 years.”



Avon sells one Ultra Lipstick every three seconds globally1 and newest to the line is Hydramatic Matte Lipstick which takes innovation one step further by combining the matte look with the moisturising comfort all women are looking for.



Avon Hydramatic Matte Lipstick will be available exclusively via Avon’s Online store (www.avon.co.za), through any Avon representative countrywide from 1 March 2023.



<h2 class="wp-block-heading" id="h-about-avon">About Avon</h2>



Avon has been doing beauty differently for 136 years. Avon is a company that connects people, using the power of beauty to transform lives for the better. Millions of independent sales Representatives across the world sell iconic Avon brands through their social networks, building their own beauty businesses on a full- or part-time basis. Avon stands for gender equality, and we believe in listening to women’s needs, speaking out about issues that matter and creating positive change. Through Avon and the Avon Foundation we’ve donated over $1.1billion, with a focus on tackling gender violence and breast cancer. Avon is part of the Natura &amp;Co Group. Learn more at www.avonworldwide.com.

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