Belgium / Gaborone, 9 June, 2023. The Government of the Republic of Botswana and the Antwerp World Diamond Centre (AWDC) will convene the second edition of the FACETS Conference. The successful conference is called FACETS2023 and it will take place in Gaborone, Botswana, on October 24 – 25, 2023.



Facets 2023 – Motswedi Wa Khumo &#8211; Diamonds for Change will gather Heads of State, Ministers of Mining and government representatives from across the globe, together with captains of industry and industry experts from the entire value chain from mine to retail, to discuss the future of the diamond industry and the challenges ahead, with a particular focus on diamond producing countries.



Ari Epstein, CEO of Antwerp World Diamond Centre: “The first edition of Facets last year was a resounding success. It is no coincidence the second edition of Facets is taking place on African soil. More than 60% of the world’s natural diamonds are mined in Africa, with the diamond industry as an important lever to building sustainable economic growth, positively impacting people and the planet on various levels. We are honoured to partner with the Government of Botswana, the leading diamond-producing country, to continue the inclusive dialogue we initiated in Antwerp last year and together ensure that Africa’s voice is heard.”



Botswana’s Minister of Minerals and Energy Lefoko Moagi: “Botswana’s achievements in the past decades are a testimony to how diamonds are an agent for change. Facets 2023 will build further on this theme by zooming in on how we can transform this change into sustainable models that will anchor the positive impact of the industry for generations to come.”



Facets 2023, – Motswedi Wa Khumo &#8211; Diamonds for Change will feature one day of keynote speeches, dialogues, and networking opportunities. A program dedicated to empowering the next generation of diamond professionals on the African continent will convene on the second day.



Preregistration for the event: www.facets2023.com

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Antwerp and Botswana to gather diamond industry in Gaborone for FACETS 2023

Dubai, UAE – Dubai Chambers has announced the first names from the distinguished lineup of guest speakers participating at the upcoming Dubai Business Forum, which takes place at Madinat Jumeirah from 1-2 November 2023.



Hosted under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, the eagerly awaited event will be held under the theme ‘Shifting Economic Power: Dubai and the Future of Global Trade.’



The forum offers a unique platform for the global business community to come together and participate in rich dialogues designed to drive business growth and foster international collaboration. The event will feature two days of high-level plenary sessions and keynote addresses, creating exciting opportunities for participants to hear from influential public sector figures, business leaders, industry experts, investors, and economists as they explore the emerging trends transforming business and shaping the future of global trade.



Key national figures who will be sharing valuable insights include H.E. Abdul Aziz Abdulla Al Ghurair, Chairman of Dubai Chambers; H.E. Abdullah bin Touq Al Marri, UAE Minister of Economy; H.E. Saeed Mohammed Al Tayer, Managing Director and CEO of the Dubai Electricity and Water Authority (DEWA); H.E. Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World; H.E. Helal Saeed Al Marri, Director General of the Dubai Department of Economy and Tourism; H.E. Khalfan Belhoul, CEO of the Dubai Future Foundation; H.E. Issam Kazim, CEO of the Dubai Corporation for Tourism and Commerce Marketing (DCTCM); H.E. Hamed Ali, CEO of the Dubai Financial Market and CEO of Nasdaq Dubai; and Hadi Badri, CEO of the Dubai Economic Development Corporation.


<div class="wp-block-image">
<figure class="aligncenter size-medium"><img loading="lazy" decoding="async" width="300" height="300" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/10/Mohammad-Ali-Rashed-Lootah-President-CEO-of-Dubai-Chambers-300x300.png" alt="" class="wp-image-428305" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/10/Mohammad-Ali-Rashed-Lootah-President-CEO-of-Dubai-Chambers-300x300.png 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/10/Mohammad-Ali-Rashed-Lootah-President-CEO-of-Dubai-Chambers-90x90.png 90w, https://cms.cnbcafrica.com/wp-content/uploads/2023/10/Mohammad-Ali-Rashed-Lootah-President-CEO-of-Dubai-Chambers.png 665w" sizes="auto, (max-width: 300px) 100vw, 300px" /><figcaption class="wp-element-caption">Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers</figcaption></figure></div>


The distinguished lineup of private sector speakers includes Shamsa Al Falasi, CEO of Citibank; Ronaldo Mouchawar, Vice President of Amazon Middle East and North Africa; Khatija Haque, Chief Economist and Head of Research at Emirates NBD; Prof. Ian Goldin, Professor of Globalisation and Development at the University of Oxford; Jane Prokop, Executive Vice President, Small and Medium Enterprises at Mastercard; Deepak Bagla, President of the World Association of Investment Promotion Agencies (WAIPA); Ted Souder, Former Senior Executive at Google; Jean-Claude Trichet, Former President of the European Central Bank; Kathy Xiaosi Gong, Founder and CEO of Oneness Labs; Rashed Ali Al Ansari, Group CEO of Al Ansari Financial Services; Noor Sweid, Managing Partner at Global Ventures; Brett Armitage, Chief Commercial Officer of Kerzner International; Daniel Susskind, speaker and author on the future of work and visiting professor at King’s College London; Badr Jafar, CEO of Crescent Enterprises and Special Representative for Business and Philanthropy at COP28; Richad Soundardjee, CEO for UAE and Egypt at China International Capital Corporation (CICC); and Salem Al Shamsi, Vice President of Global Markets at Dubai Chambers. The confirmed speakers will be joined by dozens of business leaders, industry experts, and innovators from all corners of the globe.



Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, commented: “This year’s keynote programme and speaker lineup set the tone for the Dubai Business Forum by addressing the event’s four key pillars of Globalisation, Foreign Direct Investment, Digital Transformation, and Emerging Markets, all of which will play critical roles in transforming business for the future. The lineup includes vibrant personalities and creative thinkers who will share thought-provoking stories and innovative visions, all designed to spark important conversations that will help us think differently, bring us together, and make us stronger as a global business community.”



Lootah added: “Participants from across the globe are set to gain valuable insights and engage in meaningful dialogue as we examine and shape the future of trade and investment and explore the opportunities of our ever-changing world.”



The announcement of the first batch of speakers follows Dubai Chambers’ recent unveiling of The Deals Hub, a new impact-driven platform that enables global business leaders and investors to share details of major business initiatives, partnerships, and investments. The Deals Hub creates a dedicated space for signings witnessed by senior government officials, prominent figures from the public and private sectors, and representatives from the global media. Targeting an influential international audience, the initiative reflects Dubai Chambers’ commitment to driving the growth of international trade and investments and further consolidates Dubai’s position as a leading global business hub. The dealmaking space will enable companies of all sizes to explore strategic economic partnerships, develop their international networks, and open new horizons for business success.



The Dubai Business Forum is set to play a pivotal role in achieving the objectives of the Dubai Economic Agenda (D33), which was launched at the beginning of the year by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. The ambitious roadmap features over 100 transformational projects aimed at doubling the size of the emirate’s economy during the coming decade and consolidating Dubai’s position among the top three economic cities around the world.



The Dubai Business Forum takes place at Madinat Jumeirah from 1-2 November 2023.



To register for the event, please visit&nbsp;<a href="https://register.dubaibusinessforum.com/" rel="noreferrer noopener" target="_blank">register.dubaibusinessforum.com</a>

High Angle View, Panoramic View of Dubai Skyline at Sunrise

Dubai Chambers reveals first names from stellar lineup of speakers set to explore the future of the global economy during Dubai Business Forum

Dubai, UAE – Dubai Chambers has announced details of the Dubai Business Forum’s key thematic pillars ahead of the eagerly anticipated event, which will bring the global business community together at Madinat Jumeirah from 1-2 November for two days of insightful discussions, networking, and dealmaking.



Hosted under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, the forum will be held under the theme ‘Shifting Economic Power: Dubai and the Future of Global Trade.’


<div class="wp-block-image">
<figure class="aligncenter size-medium"><img loading="lazy" decoding="async" width="300" height="300" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/10/Mohammad-Ali-Rashed-Lootah-President-CEO-of-Dubai-Chambers-300x300.png" alt="" class="wp-image-428305" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/10/Mohammad-Ali-Rashed-Lootah-President-CEO-of-Dubai-Chambers-300x300.png 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/10/Mohammad-Ali-Rashed-Lootah-President-CEO-of-Dubai-Chambers-90x90.png 90w, https://cms.cnbcafrica.com/wp-content/uploads/2023/10/Mohammad-Ali-Rashed-Lootah-President-CEO-of-Dubai-Chambers.png 665w" sizes="auto, (max-width: 300px) 100vw, 300px" /><figcaption class="wp-element-caption">Mohammad Ali Rashed Lootah</figcaption></figure></div>


Dubai Chambers has identified four key pillars that will form the basis of the event’s far-reaching agenda: Globalisation, Foreign Direct Investment, Digital Transformation, and Emerging Markets. Each of the forum’s sessions will be categorised under these verticals, ensuring participants are able to easily identify and attend the sessions that are most relevant to their individual areas of interest and expertise.



Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, commented: “Our carefully curated agenda is designed to ensure participants maximise their time together by focusing on topics that will play a fundamental role in transforming business for the future. This innovative event will unite key public and private sector stakeholders from across the globe to engage in networking opportunities, explore new partnerships, and forge significant deals.”



Lootah added: “The forum is envisioned as a unique platform to explore pressing global issues in depth, enabling the business community to take proactive steps to shape a future where business can thrive in an ever-evolving economic landscape.”



No international business forum would be complete without addressing Globalisation, which has reshaped the business environment to create both opportunities and challenges. Businesses that effectively navigate the complexities of global markets can expand their reach, boost profitability, and access valuable resources. However, these advantages come with a need to address the unique challenges that come with operating on a global scale, all of which will be placed under the spotlight during the Dubai Business Forum.



While Dubai continues to attract record-breaking amounts of Foreign Direct Investment (FDI), ongoing geopolitical issues, rising food and energy prices, and other economic pressures are impacting levels of FDI on a global scale. These trends require concerted efforts if they are to be addressed effectively. This is particularly true in the case of developing nations, with emerging markets poised to play a vital role in driving investments in priority sectors. The Dubai Business Forum creates a unique opportunity for participants to hear more about what the future holds for FDI from heads of state, policymakers, and leading financial experts.



The crucial topic of Digital Transformation will also be examined during the forum. Advanced digital technologies are contributing to the growth of business, trade, and investments by automating processes, reducing waste, and optimising supply chain management. The forum’s Digital Transformation pillar will bring together thought leaders, innovators, and policymakers for a deep dive into the implications of emerging technologies and their impact on the global business community.



It is widely predicted that Emerging Markets will represent six of the world’s seven largest economies by 2050. As these important markets further enhance their capabilities, they will grow to form an integral part of the global economy. The Dubai Business Forum will explore effective strategies to embrace this shifting world order and do business with emerging markets.



The inaugural edition of the Dubai Business Forum builds on the success of Dubai Chambers’ series of ‘Global Business Forum’ events and is set to play a key role in contributing to the ambitious targets outlined in the Dubai Economic Agenda (D33), which seeks to double the size of the emirate’s economy over the coming decade.



The event creates a unique platform for influential international figures from the public and private sectors to gather, identify emerging trends, and shape a better future for business, further cementing Dubai’s position at the heart of the global economy. Featuring two days of high-level plenary sessions, speeches, talks, workshops, and networking opportunities, the forum will serve as a catalyst to transform business and shape the future of global trade.



The Dubai Business Forum will be hosted at Madinat Jumeirah from 1-2 November.



To register for the event, please visit&nbsp;<a href="https://register.dubaibusinessforum.com/" target="_blank" rel="noreferrer noopener">register.dubaibusinessforum.com</a>.

Dubai Marina from the sea side during sunset

Dubai Chambers reveals four key pillars that will shape the agenda at this year’s Dubai Business Forum

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/10/Nandan-Mer-Network-International-Group-CEO-1-1-820x547.jpg" alt="" class="wp-image-428283" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/10/Nandan-Mer-Network-International-Group-CEO-1-1-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/10/Nandan-Mer-Network-International-Group-CEO-1-1-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/10/Nandan-Mer-Network-International-Group-CEO-1-1-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2023/10/Nandan-Mer-Network-International-Group-CEO-1-1-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/10/Nandan-Mer-Network-International-Group-CEO-1-1-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2023/10/Nandan-Mer-Network-International-Group-CEO-1-1-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Network International’s Group CEO, Nandan Mer </figcaption></figure>



Dubai-based and FTSE-listed Network International’s state of the art, cloud-based, integrated digital payment suite, Network One, is now onboarding local banks, MNOs and fintechs. In addition to the R500 million investment in the on-soil platform, the company has now announced an additional R60 million investment in a best of breed payment switch (online payment transactions routing and authorisation system).



Speaking at a launch event in Rosebank recently, Network International’s Group CEO Nandan Mer told industry guests and media that the company has had the privilege of being part of the South African business community for the better part of 16 years and plans to use its local tenure to further accelerate its plans for the Southern Africa region.



“The latest investment is integral to the company’s continued commitment to the country and continent. Our acquisition of DPO, an e-commerce provider across the African market, gave us the confidence to take the next step with our R500 million platform investment just 18 months later. This next R60 million investment shows how we are stepping things up a notch and moving Network into the payment services fast lane,” Mer said.



Some of the first South African customers on Network’s new tier one payments platform include a major MNO and multinational commercial banks.



The new payment switch is due to go live in 2024, which will further ensure scalability and continuity of the platform in South Africa’s high transaction volume market.



<h2 class="wp-block-heading" id="h-on-soil-offering-good-for-local-and-african-clients">On-soil offering good for local and African clients</h2>



The company’s Network One platform is an integrated payment suite offering both merchant and issuer solutions, hosted and supported in-country. It relies on a consolidation of best-in-class technologies brought together to provide end-to-end payment processing capabilities in a highly configurable setting.



With its own technology stack that is built, hosted and maintained locally, Network is positioning itself to serve local and regional institutions seeking digital payments capabilities that are relevant for the market and local consumers.



<a href="https://media-publications.bcg.com/Reimagining-the-Payments-Operating-Model-to-Withstand-Disruption-in-Africa.pdf">According to BCG</a>, payment revenues in MEA are forecast to grow 8.3% from 2021, reaching $2.2Tn by 2026. Electronic payments are forecast to grow from 12% of POS transactions in 2021 to 21% in 2025.



“Being on the ground and understanding the nuances of what the local market really needs has helped us deliver an offering that is perfectly suited to South African businesses. Our ability to create a hub with all the necessary technology not only allows our clients to offer a better value proposition, it also allows Network to extend our offering to help deliver relevant products to the 80% of underserved consumers on the rest of the continent,” explained Group MD – Processing, Africa and Co-Head Group Processing, Dr. Reda Helal. 



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/10/Dr-Reda-Helal-Network-International-Group-Managing-Director-–-Processing-Africa-Co-Head-Group-Processing-2-820x547.jpg" alt="" class="wp-image-428284" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/10/Dr-Reda-Helal-Network-International-Group-Managing-Director-–-Processing-Africa-Co-Head-Group-Processing-2-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/10/Dr-Reda-Helal-Network-International-Group-Managing-Director-–-Processing-Africa-Co-Head-Group-Processing-2-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/10/Dr-Reda-Helal-Network-International-Group-Managing-Director-–-Processing-Africa-Co-Head-Group-Processing-2-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2023/10/Dr-Reda-Helal-Network-International-Group-Managing-Director-–-Processing-Africa-Co-Head-Group-Processing-2-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/10/Dr-Reda-Helal-Network-International-Group-Managing-Director-–-Processing-Africa-Co-Head-Group-Processing-2-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2023/10/Dr-Reda-Helal-Network-International-Group-Managing-Director-–-Processing-Africa-Co-Head-Group-Processing-2-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Group MD – Processing, Africa and Co-Head Group Processing, Dr. Reda Helal</figcaption></figure>



<h2 class="wp-block-heading" id="h-rapid-growth-of-local-talent-delivers-results">Rapid growth of local talent delivers results</h2>



A key part of Network International’s ongoing investment has also been to empower a growing local team. By bolstering its people capacity in SA, Network will be able to locally collaborate and co-innovate with local banks and MNOs where they have access to SMEs and payment professionals as close as possible to where they operate.



As a show of its commitment to the transformation of the local entity, the company has already doubled its staff complement, and will continue to enhance resources and talents. In the past 10 months Network has moved from level 8 BBBEE status (in December 2022) to level 4 (in July 2023), with plans to continue improving on this in 2024 to ensure that SA institutions trust Network as a payments partner of choice.&nbsp;



“We have over 1,000 years of collective payment knowledge and expertise in South Africa. In hiring the right talent we are confident that our local teams are able to deliver 50% faster with limited dependency on our remote teams, adding meaningful operational gains for local clients and beyond South Africa,” Dr. Helal shared.



The company says its rapid investment has resulted in significantly improved economies of scale. This means it can offer cutting edge technology cheaper than companies can develop it in-house, making it attractive to a wide target audience while also helping it accelerate digital transformation across the region.



“Our goal has always been to be a proudly South African company. We want to be closer to our clients and be more responsive to their unique needs. Having an on-soil presence enables us to better support local commerce and the economy,” Mer summed up.



<h2 class="wp-block-heading" id="h-about-network-international-sa">About Network International SA</h2>



<a href="https://www.network.ae/en/contents/view/who-we-are">Network International</a> is the Middle East and Africa’s largest and leading digital payments company. Our purpose is to help businesses and economies grow by simplifying payments and commerce. We operate in 50+ countries serving governments, banks, fintechs, merchants and public sector companies. We have over 2,000 digital payments experts based in our markets serving over 200 financial institutions and over 150,000+ merchants.

Nandan-Mer-Network-International-Group-CEO-1-1

Network International’s R500m on-soil payment platform goes live, gets R60m Payment Switch boost

In today&#8217;s ever-evolving business landscape, the challenges continue to mount, particularly in the wake of recent global events. Navigating these challenges can be a daunting task, especially when budgets are tightening while problems continue to grow. The solution to this conundrum lies in optimization. Instead of expanding workforces and budgets, the most effective approach often involves eliminating waste and maximizing existing resources.



In South Africa, Datacentrix, an experienced integrator, champions this philosophy by offering your company the opportunity to embrace HP Intelligent Workflows. Leveraging the decades of corporate expertise that have made HP a global success, Intelligent Workflows is designed to eradicate inefficiencies, reduce time wastage, seamlessly integrate remote teams, and enhance various workflows, all while upholding stringent security and global data compliance standards.



Users of this system gain access to an all-in-one, no-code workflow designer that empowers the creation of intelligent, customized workflows. This tool not only identifies and eliminates friction points but also automates repetitive tasks that can often hinder employee productivity. These tasks, although important, can be automated to free up employees to apply their skills where they matter most.



HP Intelligent Workflows also addresses inefficiencies related to paper documents, a ubiquitous aspect of all businesses. While print remains indispensable, intelligent use can save both time and money. HP offers an impressive case study demonstrating how print can be reduced or eliminated, accelerating task completion, reducing costs, and ensuring compliance with governmental regulations.



For instance, a global fruit farming and production company streamlined its annual employee onboarding processes using HP Intelligent Workflows. This transition from endless printed documents to a digital eForm system allowed a single employee to accomplish what once required a team effort. This digital transformation not only enhanced document visibility and accessibility but also met both the company&#8217;s and government&#8217;s requirements.



Throughout this workflow enhancement journey, HP also noted increased product confidence and an improved customer experience, particularly crucial in an industry like food production, where quality standards are exceptionally high.



To become the next success story with HP Intelligent Workflows and bolster your customer confidence, get in touch with Datacentrix today. <a href="http://www.datacentrix.co.za">Let us give you a call</a>

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Optimize Your Day with Datacentrix and HP Workforce Solutions

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="815" height="800" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/10/GM-for-ICT-MTN-Business-Sudipto-Moitra-1-1-815x800.jpg" alt="" class="wp-image-428263" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/10/GM-for-ICT-MTN-Business-Sudipto-Moitra-1-1-815x800.jpg 815w, https://cms.cnbcafrica.com/wp-content/uploads/2023/10/GM-for-ICT-MTN-Business-Sudipto-Moitra-1-1-300x295.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/10/GM-for-ICT-MTN-Business-Sudipto-Moitra-1-1-92x90.jpg 92w, https://cms.cnbcafrica.com/wp-content/uploads/2023/10/GM-for-ICT-MTN-Business-Sudipto-Moitra-1-1-768x754.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/10/GM-for-ICT-MTN-Business-Sudipto-Moitra-1-1.jpg 1280w" sizes="auto, (max-width: 815px) 100vw, 815px" /><figcaption class="wp-element-caption">Sudipto Moitra, General Manager &#8211; MTN SA Enterprise Business</figcaption></figure>



Mining in Africa presents numerous challenges, and quite simply, the chances of prospering are limited without the ability to communicate and use cutting-edge technology effectively.



To some extent, the growth of digital communications has filled the gap, but operating over a public network has imposed some limitations. However, these constraints are receding as more mines opt for 5G private networks, which are rapidly changing the face of a demanding sector by offering access to data transfer speeds up to 10x faster than previous standards.



Private networks empower users to utilise dedicated equipment and configurations in their networks as they run separately from public networks and can be deployed within a customer’s premises or in specified geographical areas, offering a dedicated and isolated network environment.



Amongst the benefits of private networks is exclusive capacity, as there is no competition for space from other network users. The high data speeds translate into quicker downloads and uploads of large files and data sets, real-time site monitoring by video and large-scale data transfers. Notably, the problems associated with working in rural areas and having spotty or weak indoor coverage are eliminated.



5G private networks are helping miners maintain high levels of safety, coordinate activities across vast working areas, and respond to emergencies. Reliable, low latency 5G private networks reach across mines, bringing real-time voice and data transmission to the fore.



Additionally, miners can control autonomous vehicles, drills, and other machinery from a central location. Marrying communication and tech results in optimised production, reduced downtime, and lower operational costs.



Presently, intelligent mining tech is reducing the need for people to enter hazardous areas. Remote-controlled equipment with cameras survey areas before miners enter, while computer vision, artificial intelligence, drones, and robots perform site inspections to reduce hazards for mining personnel. On the personal safety front, wearable devices connected to 5G private networks are tracking the health and locations of miners in real-time.



With the help of 5G private networks, more mining operations are becoming automated. Automated vehicles and robots are used for drilling, transportation, and handling materials. Other automated equipment is resulting in predefined, repetitive tasks becoming autonomous as well as achieving more complex tasks through remote controlled machinery.&nbsp;



High-speed data transfer allows for more efficient geological surveying of mining sites, with drones and sensors collecting geological data which can be quickly analysed to identify valuable resources and plan the extraction of ores. A by-product of these developments is better energy management and lower environmental footprints.



5G private network users are effectively managing supply chains by utilising ‘just in time’ (JIT) techniques to ensure that the correct materials and equipment are available when needed. The benefits are reduced production delays and improved efficiency. Savings, through reducing the cost of holding excess stock in storage facilities are also achieved.



There is no doubt that growing awareness about environmental, social and governance (ESG) issues is making mines more concerned about ‘greening’ their operations, reducing waste, and limiting their water and energy use. Technology is, therefore, being harnessed to help improve the use of natural resources, promote sustainability, and reduce the production of harmful gases.



At MTN, we believe that 5G private networks will play a pivotal role in transforming industry, mining, and commerce because of its capabilities. As the use of Internet of Things (IOT) devices and sensors increases, predictions are that data transmission will grow exponentially.



We are living in a brave, new technological world, and at its core are the networks that enable our communications.

GM-for-ICT-MTN-Business-Sudipto-Moitra-1-1

Transforming mining in Africa: 5G Private Networks and cutting-edge tech revolutionise the industry’s future

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/10/RS18753_Intersect_GESCI_Karuri_Secondary_School_Kenya_0010-lpr-1-820x547.jpg" alt="" class="wp-image-428150" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/10/RS18753_Intersect_GESCI_Karuri_Secondary_School_Kenya_0010-lpr-1-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/10/RS18753_Intersect_GESCI_Karuri_Secondary_School_Kenya_0010-lpr-1-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/10/RS18753_Intersect_GESCI_Karuri_Secondary_School_Kenya_0010-lpr-1-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2023/10/RS18753_Intersect_GESCI_Karuri_Secondary_School_Kenya_0010-lpr-1-768x513.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/10/RS18753_Intersect_GESCI_Karuri_Secondary_School_Kenya_0010-lpr-1-1536x1025.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2023/10/RS18753_Intersect_GESCI_Karuri_Secondary_School_Kenya_0010-lpr-1.jpg 2000w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Teacher Maxwell Kayesi leads his Form 2 Physics class at Karuri High School in Kiambu, Kenya on 30 May 2017. Teachers are using digital technologies such as laptops, projectors, videos, and internet access. The dynamic learning experience is part of the GESCI African Digital Schools Initiative supported by the MasterCard Foundation. The goal is to promote 21st century skills in schools in Kenya and to increase student engagement and improve test scores using digital technologies. &#8220;In the long run, we will have self reliant citizens,&#8221; Maxwell Kayesi said. Citizens who are ready to meet the challenges of the digital world.</figcaption></figure>



A 2021 projections report by the <a href="https://teachertaskforce.org/knowledge-hub/closing-gap-ensuring-there-are-enough-qualified-and-supported-teachers-sub-saharan">International Taskforce on Teachers for Education 2030</a> revealed that more and smarter investment in teachers and teaching is needed to enable young Africans to access quality education. Sub-Saharan Africa will need to recruit between fifteen to seventeen million teachers to reach its education goals by 2030.



This year’s <a href="https://www.unesco.org/en/days/teachers">World Teachers’ Day</a> theme, “The teachers we need for the education we want: The global imperative to reverse the teacher shortage,” underscores the urgency to attract, retain and motivate teachers.&nbsp;



In secondary education, for instance, more than 10% higher annual growth of teacher numbers is needed in Burundi, Central African Republic, Chad, Mozambique, Niger, and Tanzania. On the other hand, Burkina Faso faces a funding gap of US$97 million in its efforts to provide teacher training and other interventions in the years leading to 2025.



Despite the challenges, education in Africa has evolved with the adoption of technology in learning at various levels, especially after the COVID-19 pandemic. While technology may not replace teachers in a classroom, it can help alleviate the shortage of teachers by providing virtual teachers and transforming teacher-learner outcomes. What, then, will it take to build digital tools that empower teachers and learners?



Speaking in the October edition of EdTech Mondays by Mastercard Foundation, Peter Tabichi, a STEM teacher in Kenya who also won the 2019 Global Teacher Prize, acknowledged that embracing technology has made teachers’ work more efficient and their workload lighter. “Teachers are using technology alongside the traditional teaching models. It became paramount to be innovative using the low-cost ICT options available such as smartphones,” said Tabichi, who recommends continuous ICT learning for teachers.



To prove this, a&nbsp;<a href="https://ideas.repec.org/a/eee/injoed/v66y2019icp203-213.html">multi-year study across primary schools in South Africa</a>&nbsp;revealed that a single teacher conducting virtual classes could deliver education that equalled three on-site teachers, making technology more economically effective.



However, the lack of necessary digital tools and accessories such as internet connectivity, devices and infrastructure support remains a challenge, especially for schools in underserved communities and rural areas.



This is more pronounced for learners with disabilities whose teaching requires specialized tools, such as alternative keyboards, audiobooks and publications, or optical character recognition, that are unaffordable. “Parents oftentimes cannot afford these tools &#8211; including the basic smartphones &#8211; for their children to use. The same goes for teachers,” said Elisa Hungwe, a teacher at Ndlovu Secondary School in Zimbabwe another panelist on EdTech Mondays Africa. There is therefore a need to address equity and inclusivity as we promote technology use in education.



Challenges notwithstanding, <a href="https://mastercardfdn.org/leaders-in-teaching-unlocking-quality-secondary-education-in-africa/#slide14">studies</a> have shown that where teachers are empowered to use technology in teaching, there are better learning outcomes. Teachers are more motivated when using practical and interactive illustrations aided by digital tools eliminating the textbook burden, especially in underserved teaching environments.



EdTech company Founders Agang Ditlhogo of the Click Generation in Botswana and Precious Oluwadunsin of Learners Crib in Nigeria called for government support in creating conducive environments for the private sector to support the implementation of digital infrastructure in schools. By availing tools and resources to adequately support technology use in education, teachers can be empowered with necessary skills while on the job.



<a>A good example of empowering teachers featured on this edition is the Mastercard Foundation Leaders in Teaching program </a>focused on training, motivation, and professional development for teachers and school leaders across Africa. Beginning in Rwanda, the initiative being implemented in partnership with the African Institute of Mathematics and Science (AIMS), aims to improve science, math, and ICT knowledge and teaching skills for new and experienced teachers, improve the capacity of school leaders to create positive instructional environments and recruit young people into the profession. At inception, the initiative aimed at impacting at least 250,000 secondary school students and more than 10,000 teachers and educators. The program has so far reached 16,293 teachers, 3274 educators and 276,323 students.



In conclusion, building digital tools to empower teachers and learners is a collaborative effort that begins with embracing relevant EdTech solutions that are practical, available, and relevant to different teaching contexts for optimal impact on learners in Africa.



Admittedly, embracing technology has made teachers’ work more efficient and the teaching experience satisfactory, and the only way to go is forward with technology.



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<h2 class="wp-block-heading has-text-align-center" id="h-watch-october-s-edtech-mondays-africa-edition">Watch October’s EdTech Mondays Africa Edition.</h2>



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Building Digital Tools that Empower Teachers and Learners

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Gallagher Estate Convention Centre, 17 – 19 October 2023



Africa&#8217;s healthcare landscape is evolving. Harnessing a plethora of digital advancements, Africa Health Congress 2023 is setting a new direction, focusing on sustainable health systems, inter-generational dialogue, and the importance of involving our burgeoning youth population in healthcare services.



In a world characterised by a seemingly unending series of crises &#8211; health pandemics, political unrest, the escalating cost of living, and climate change &#8211; one thing remains abundantly clear: We will adapt.



The process of adaptation is a dynamic dance of fight, flight, focus, and freeze responses. At the very heart of this dance is healthcare, a sector that, through its profound resilience and relevance during these challenging times, has become a beacon of adaptation. As it strides forward, healthcare leverages science and data-driven approaches to chart a visionary course.



To elucidate these advancements, preeminent authorities from an expansive array of healthcare sectors and disciplines will convene in Johannesburg for Africa&#8217;s premier healthcare assembly &#8211; the Africa Health Congress and Exhibition.



Scheduled for 17-19 October at Gallagher Estate, this pivotal event will once again illuminate Johannesburg as an epicentre of healthcare transformation. Highly regarded by healthcare professionals continent-wide, the Congress is anticipated to catalyse crucial dialogues concerning the significant issues that impact the provision of superior healthcare across Africa and to its people.



“This is the 13th edition of the Africa Health Conference, and we expect to host over 6000 delegates from 55 countries, transforming the Gallagher Convention Centre into a global melting pot of ideas for healthcare innovation,” says Africa Health’s event director, Tom Coleman.



With 700+ exhibitors showcasing the latest breakthroughs and innovations in healthcare technology, the Africa Health Congress will provide an exceptional platform for delegates to engage with industry leaders and peers.



With 15 CPD-accredited clinical and leadership conference tracks, the conference promises to enlighten delegates on current best practices, with topics ranging across a broad array of relevant healthcare disciplines.



“In an exciting new addition this year, the organisers are introducing the Healthcare Indaba, which is a forum for senior attendees, C-suite executives, and government representatives to discuss key topics like sustainable health systems, energy security, public procurement, mental health policy frameworks, and migrant health,” adds Dr Bandile Hadebe, event spokesperson.



The event will feature Medlab Africa 2023, a co-located event and a gateway for all your medical laboratory aspirations. Medlab Africa is set to showcase a broad spectrum of products from medical equipment and devices, imaging and diagnostics, Laboratory, IT, and more.



“The event provides an opportunity to network with leading professionals, learn from thought leaders driving innovation in the healthcare space, and explore a new era of medical laboratory innovation in South Africa,” Dr Hedebe says.



Emphasising the Congress&#8217;s focus on sustainability and quality of care, Makarutse elaborates that Africa Health, &#8220;aims to leverage the right networks and knowledge to address the healthcare sector&#8217;s biggest gaps. Each year, we strive to enhance our social, economic, and environmental impact in the region.”



“Amidst a surprising <a href="https://www.spotlightnsp.co.za/2023/02/23/opinion-budget-2023-opportunity-missed-to-refocus-public-health-spending/#:~:text=An%20opportunity%20to%20refocus%20public%20health%20spending&amp;text=The%202023%2F24%20budget%20reverses,the%202023%2F4%20financial%20year.">slight uptick in healthcare funding for FY24</a>, as revealed in this year’s national budget speech, it&#8217;s clear that South Africa’s healthcare systems are not only adapting but also gaining strength. Moreover, <a href="https://www.mckinsey.com/industries/healthcare/our-insights/how-digital-tools-could-boost-efficiency-in-african-health-systems">research</a> indicates potential efficiency gains of up to 15% in total healthcare expenditures by 2030 through digital transformation in countries like Kenya, Nigeria, and South Africa,” she notes.



Africa’s healthcare systems are rising to the challenges, embracing digital advancements, and improving patient outcomes,” Content lead, Makarutse concludes.

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“The Spark of a Healthier Future: Africa Health 2023 Connecting the Africa Healthcare community for a sustainable and innovative future”.

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="546" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/10/MicrosoftTeams-image-4-820x546.jpg" alt="" class="wp-image-427908" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/10/MicrosoftTeams-image-4-820x546.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/10/MicrosoftTeams-image-4-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/10/MicrosoftTeams-image-4-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2023/10/MicrosoftTeams-image-4-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/10/MicrosoftTeams-image-4.jpg 1100w" sizes="auto, (max-width: 820px) 100vw, 820px" /></figure>



Being technologically savvy is essential for navigating today&#8217;s increasingly tech-driven global economy.



According to experts in the education and ICT sectors, for young people in Africa to compete with their peers in the global job market, early introduction to digital skills for learners has the potential to give them an advantage as they prepare for the modern workplace.



In 2022, African countries scored between 1.8 and five on the Digital Skills Gap Index. This is below the global average of six. About 87 percent of African business leaders identified digital literacy skills development as a focus area needing further investment.



According to a report by the World Bank, only 50 percent of countries in Africa have ‘computer’ skills as part of their school curriculum, compared to 85 percent of countries globally. The companies surveyed revealed a high demand for digital skills—and a skills shortage. Nearly 65 percent of the job vacancies that employers were trying to fill required at least basic digital skills.



“Digital skills are on the same level as numeracy and literacy skills, and in future, all children will have to be equipped with digital skills,” said Yevgeniya Savchenko, Senior Economist in Education Global Practice for the Eastern and Southern Africa region at the World Bank, and one of the three panelists.



While there are many advantages to digital literacy, there are also numerous and significant challenges in accessing digital tools for teaching, especially in countries with unreliable internet access and lower income levels.



“Achieving digital literacy for the benefit of education systems in Africa requires collaboration. Governments cannot do this alone. From a policy perspective, it must be a collaborative process between governments and all stakeholders in education and technology sectors,” added Eliud Chemweno, eLearning Lead at the Centre for Innovative Teaching and Learning at the Mastercard Foundation.



For educators, digital literacy is critical to help them leverage technology in the best interest of students. They need easy access to appropriate learning tools and adequate training to make the most of the tech solutions available in education. For students, digital literacy helps promote academic growth and allows them to learn how to effectively use digital tools in different areas of their lives.



“Educators often fall short in different skills. Our teaching force [is] not sufficiently digitally literate, and this poses a challenge in introducing technology into classrooms,” said Gabi Immelman, Founder and CEO of Mindjoy, an artificial intelligence-powered platform that helps educators attain the basics of digital skill sets and affords learners digital training on concepts such as coding in South Africa.



The panelists highlighted that creating an enabling environment for digital literacy to thrive is critical. This includes deepening collaboration between governments and private sector players such as EdTech companies, telcos, content providers, teachers, parents, and learners.



To close off, the panel also agreed on the importance of having frameworks that guide implementation &#8211; especially where teaching is concerned &#8211; to benefit education systems. Tools and apps should also be created with the end user in mind to provide material relevant to the educational ecosystem and the long-term prospects for employment.



The future of Africa’s education systems is measured by how impactful the pedagogy is to its learners. By accelerating digital literacy skills, education systems improve efficiency and the learning experience by equipping learners with lifelong skills.



This edition of the Mastercard Foundation EdTech Mondays sought to discuss the steps that can be taken to accelerate digital literacy to benefit of education systems in Africa.



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<h2 class="wp-block-heading" id="h-watch-the-mastercard-foundation-edtech-monday-september-2023-edition">Watch the Mastercard Foundation EdTech Monday September 2023 edition.</h2>



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Accelerating Digital Literacy to Benefit Education Systems in Africa

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="429" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/10/seanmq-820x429.png" alt="" class="wp-image-427900" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/10/seanmq-820x429.png 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/10/seanmq-300x157.png 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/10/seanmq-160x84.png 160w, https://cms.cnbcafrica.com/wp-content/uploads/2023/10/seanmq-768x402.png 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/10/seanmq.png 1200w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Sean Chin MQ, Investment Director of Olritz Financial Group</figcaption></figure>



Sean Chin MQ is an esteemed Investment Director of Olritz Financial Group who has set his sights on a transformative project in Kenya’s affordable housing sector. With a career spanning a dynamic 15 years in the financial world, Sean Chin MQ is a visionary dark horse who now stands at the head of his company, managing over $150 million in funds. His latest venture is yet another step forward, which to say in the least, is nothing short of remarkable.



One of the cornerstones of East Africa&#8217;s economy is agriculture and commodities trading, with the region exporting over $7.4 billion worth of goods and services in 2022, solidifying its position as a major continental exporter. Moreover, East Africa&#8217;s lucrative agricultural and developmental trades with China&#8217;s state-owned enterprises have reached the astounding value of trillions of dollars.



Capital markets in Africa have also been advancing rapidly in recent years, with key development milestones that have now presented an opportune moment for Sean Chin MQ to enter the scene. His capabilities have resulted in a successful collaboration with AFRA Holdings PTE Ltd Singapore on a private flagship project aimed at developing affordable housing and student hostels in Kenya.



In this groundbreaking initiative, Sean Chin MQ is poised to make a lasting impact by providing both funding and his wealth of expertise to AFRA Holdings, a prominent player in the real estate industry. AFRA Holdings is a Singaporean consortium specialising in sustainable and affordable housing solutions, making them the perfect partner to address Kenya&#8217;s growing need for accessible and quality housing options for its citizens.



&#8220;I am thrilled to partner with AFRA Holdings to address a pressing issue in Kenya—the need for affordable housing,&#8221; stated Sean Chin MQ, &#8220;Our investment in this endeavor reflects our commitment to responsible investment and our unwavering belief that everyone deserves to be able to have a safe and comfortable place to call home. I am excited to embark on this journey with AFRA Holdings in the Sustainable Habitat Heights housing project. This Asia-Africa partnership has the potential to create a transformative wave in economic trades, skilled worker development, and cross-border opportunities that are not only profitable but also benefit people and the planet.&#8221;



This visionary venture aims to make significant strides in the affordable housing sector through several ambitious projects:



Kenya Affordable Homes Initiative: This initiative will oversee the construction of modern, energy-efficient, and affordable housing units across key regions in Kenya, with a particular focus on the Lukenya region. Sustainable building practices will be prioritized, creating communities that are not only affordable but also environmentally friendly.



Community Development: Beyond constructing homes, the partnership is committed to community development. The goal is to create thriving, self-sustaining communities with access to essential amenities such as schools, healthcare facilities, and recreational spaces.



Empowering Local Economies: By engaging local labor and suppliers, the initiative aims to stimulate economic growth within the regions where projects are undertaken. This will contribute to the prosperity of the communities and create lasting positive impacts.



Educational and Skill-building Programs: AFRA Holdings will collaborate with Sean Chin MQ on several educational and skill-building programs designed to empower individuals within these communities with the tools and knowledge needed for personal and professional growth.



This venture, firmly grounded in the principles of sustainability and financial inclusion, addresses the core tenets of &#8220;People, Planet, and Profit.&#8221; By tackling the affordable housing crisis in Kenya head-on, this project is poised to improve the lives of countless individuals and families while fostering sustainable economic development.



From his modest beginnings as a proprietary desk trader, Sean Chin MQ has tried his hand in banking and investment brokerage firms and now has founded Olritz Financial Group in Asia.



<h2 class="wp-block-heading" id="h-sean-chin-mq-a-journey-of-excellence">Sean Chin MQ: A Journey of Excellence</h2>



Sean‘s journey in hedge fund management has been marked by excellence at every turn. His seasoned sense of prediction has gained him traction among those that know him and his resilience is a trait that has brought him to where he is today. With a relentless commitment to responsible investment, he has not only grown funds but also nurtured a philosophy of giving back which makes sustainable projects align so closely to his core beliefs.



Starting from the very bottom, Sean has honed his technical skills and instincts in the world of finance under the very best. He displayed an innate ability to navigate volatile markets, analyze intricate financial instruments, and make informed investment decisions. This early experience and the years of dedication he has put into trading has forged the foundation of his success.



<h2 class="wp-block-heading" id="h-visionary-leadership-and-social-responsibility">Visionary Leadership and Social Responsibility</h2>



Sean Chin MQ’s partnership now with AFRA Holdings exemplifies his vision of betterment for a world in need. The Sustainable Habitat Heights housing project is not just a business endeavor; it&#8217;s a mission to provide sustainable housing solutions for citizens and creating an opening for people to be able to live safe and wholesome lifestyles.



Under his guidance, Olritz Financial Group has embraced the principles of responsible investment, integrating environmental, social, and governance (ESG) factors into their decision-making processes. This approach has not only yielded financial success but also contributed to positive social and environmental outcomes.



<h2 class="wp-block-heading" id="h-community-empowerment">Community Empowerment</h2>



One of the key pillars of Sean&#8217;s vision is community empowerment. The commitment to developing not just houses but entire communities with access to essential services is a testament to his holistic approach to investment. It&#8217;s about creating environments where families can thrive, children can receive quality education, and individuals can access basic amenities such as healthcare and recreation.



<h2 class="wp-block-heading" id="h-economic-growth-and-local-engagement">Economic Growth and Local Engagement</h2>



By engaging local labor and suppliers, the Sustainable Habitat Heights housing project is not just providing housing but also stimulating economic growth within Kenya. The aim is to create a win-win situation, where the prosperity of the communities rises in tandem with the construction of sustainable housing.



<h2 class="wp-block-heading" id="h-investing-in-knowledge-and-skills">Investing in Knowledge and Skills</h2>



The collaboration with AFRA Holdings on educational and skill-building programs underscores Sean&#8217;s commitment to long-term impact. Education is the key for sustainable change and by providing individuals with the tools and knowledge needed for personal and professional growth, these programs are laying the groundwork for the people that will create new chances for them to build a brighter future.



<h2 class="wp-block-heading" id="h-sustainability-and-financial-inclusion">Sustainability and Financial Inclusion</h2>



The Sustainable Habitat Heights housing project embodies the principles of sustainability and financial inclusion. It&#8217;s a demonstration that profitability can coexist with social responsibility and environmental stewardship. By addressing Kenya&#8217;s affordable housing crisis, the project aims to uplift lives while contributing to sustainable economic development in the region.



<h2 class="wp-block-heading" id="h-a-pathway-to-1-billion-aum">A Pathway to $1 Billion AUM</h2>



Sean Chin MQ&#8217;s journey as a hedge fund manager is characterized by growth and ambition. Managing over $150 million in funds, Olritz Financial Group is on a trajectory to increase their Assets Under Management (AUM) to a staggering $1 billion. This expansion is not just about scale; it&#8217;s about expanding the scope of responsible and impactful investment, creating a legacy of financial success intertwined with meaningful contributions to society and the global economy.

seanmq

Visionary Hedge Fund Manager Pioneers Endeavors in East Africa

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/10/Picture-for-Teams-1-820x547.jpg" alt="" class="wp-image-427878" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/10/Picture-for-Teams-1-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/10/Picture-for-Teams-1-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/10/Picture-for-Teams-1-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2023/10/Picture-for-Teams-1-768x513.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/10/Picture-for-Teams-1-1536x1025.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2023/10/Picture-for-Teams-1-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Muhammed Wagley, Portfolio Manager &#8211; Sasfin</figcaption></figure>



I overheard this statement once and I think it’s one of the strangest myths around Zillennials (apart from us needing coffee to cope) – the myth is that we think we’re too young to be investing. Now, if that sounds very familiar and it resonates with you, from one Zillennial to another, it’s a must that you change your mindset.



It takes a very self-aware generation to know what they don’t know. Zillennials refer to themselves as being “too young for Millennials but too old for Gen Z.” And they are forming the largest part of the world’s living adult population.



These adults are seeing their wealth grow, they’re moving forward in their careers and lives, and planning for their finances have come to the forefront of their thinking.



What does unleashing the financial power of a tech-savvy generation look like? Practically &#8211; if you earn R10,000 ($523) a month, and, at the end of the month, you’ve got R1,000 ($52) left over in your bank account. The money that you should invest isn’t necessarily the entire R1,000 ($52); it’s whatever of that amount that you can afford to put away and not need ever again. So, let’s say you consistently save R200 ($10) every month, it will add up.



Starting your investment while young is key to your financial independence. Just have a look at the returns of your favourite company over the long term, it will shock you. Apple Inc., the biggest company in the world, has returned nearly 237% to its shareholders over the last five years. It’s not as if one needed to be a portfolio manager to have known that Apple would have grown in the subsequent years. High quality companies on the forefront of ubiquitous themes tend to do well, it’s not rocket science.



Getting started early with your investments has a couple of obvious benefits – on one hand, you have the advantage of compounding where the earlier you start investing, the better off you are. On the other hand, you have an abundance of knowledge at your fingertips. In fact, I would say that our access to information is unprecedented. From podcasts and TikTok to Sasfin’s Content Hub, there is more than enough help to get you on the right track with your investments.



The key takeaway here is that one should not be shy about doing their own due diligence on shares or other type of financial instruments and then invest accordingly. The habit of investing needs to be fostered now, while we’re young. It is so important, and I cannot overstate that enough.



Another important point that I’d like to raise and be candid about is this: our generation should be conscious of how we look at the market. They can be volatile and uncertain, and it’s easy to become impatient, so we tend to view the market as a vehicle to get rich fast.



If there is one thing that you should take from this article, it’s this – don’t look at the market as a vehicle to make you rich, but rather a vehicle that will assist your financial goals in the long term.



The amount of money that you’re willing to lose without it negatively impacting your life or changing any part of your lifestyle is the amount of money that you should be saving for the long term. Assuming one has done one’s own due diligence, diversify your money, and don’t put all your eggs in one basket. Enter your investing era by investing in as many high-quality instruments as you can that include a solid reputation, a history of success, and potential for growth. That&#8217;s your key to enter the millionaire&#8217;s (maybe even billionaire’s) club at retirement.

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Investing as a Zillennial: Unleashing the Financial Power of a Tech-Savvy Generation

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="437" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/10/Irene-Auma-Head-of-Risk-SSA-1-1-820x437.png" alt="" class="wp-image-427935" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/10/Irene-Auma-Head-of-Risk-SSA-1-1-820x437.png 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/10/Irene-Auma-Head-of-Risk-SSA-1-1-300x160.png 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/10/Irene-Auma-Head-of-Risk-SSA-1-1-160x85.png 160w, https://cms.cnbcafrica.com/wp-content/uploads/2023/10/Irene-Auma-Head-of-Risk-SSA-1-1-768x409.png 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/10/Irene-Auma-Head-of-Risk-SSA-1-1-1536x818.png 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2023/10/Irene-Auma-Head-of-Risk-SSA-1-1.png 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Irene Auma, Head of Risk, SSA</figcaption></figure>



Nine out of ten consumers are at significant risk of falling prey to a scam – even the most experienced ones.



In the Sub-Saharan Africa financial landscape, electronic payments have emerged as a thriving industry, drawing more investment than any other financial services sector. Over the past decade, it has consistently delivered remarkable returns and substantial growth. Africa has been no exception to this trend the year 2020, the e-payments industry in Africa, encompassing both domestic and cross-border transactions, boasted revenues reaching approximately $24 billion. Of this substantial sum, approximately $15 billion was attributed to domestic electronic payments alone. The revenue from domestic electronic payments, totalling $15 billion, was generated from a staggering 47 billion individual transactions, collectively exceeding $800 billion in transaction values.



Despite these impressive numbers, it&#8217;s noteworthy that only 5 to 7 percent of all payment transactions in Africa were conducted through electronic or digital channels, a sharp contrast to countries like Turkey, where more than 50 percent of transactions flow through these channels. This glaring difference underscores the immense growth potential that e-payments represent on the African continent. As payment methods become more convenient and scalable while the supporting infrastructure continues to develop, the prospects for e-payments in Africa are undeniably promising.



Electronic payments have been gaining momentum in Africa since the turn of the millennium, mirroring a global trend that saw them take a giant leap forward during the COVID-19 pandemic. This surge in digital payment activity sets the stage for a critical examination of fraud prevention in the evolving landscape of Sub-Saharan Africa&#8217;s digital payments. We&#8217;re going explore how Visa, a global financial services provider, leverages its expertise to safeguard the burgeoning digital payment ecosystem across the region, as well as the imperative role of consumer awareness in mitigating the risks associated with this transformative shift in the financial landscape.



<h2 class="wp-block-heading" id="h-safeguarding-the-digital-frontier-and-foiling-fraudsters">Safeguarding the Digital Frontier and Foiling Fraudsters</h2>



Scams are becoming increasingly prevalent with the rapid pace of digitization. At Visa, we continue to innovate and are putting the best technology in place to protect the digital ecosystem and educate consumers to be more vigilant. Last year alone Visa prevented USD 27.1 billion worth of attempted fraudulent payments across 122 million transactions, stopping fraudsters in their tracks.&nbsp;



However, as Frank Abagnale said in Catch Me If You Can, “There is no technology today that cannot be defeated by social engineering.” And this is where raising consumer awareness plays the most significant role.



To determine how best to tackle consumer awareness about fraud in Sub-Saharan Africa, Visa commissioned the Visa Stay Secure 2023 CEMEA Study in partnership with Wakefield Research, which surveyed 5,800 adults in 17 markets across the CEMEA region.



The study provided a valuable foundation for understanding how and why people fall victim to fraud. According to the Study, confidence in the ability to spot a scam, and the vulnerability it may bring, is highest in countries like Kenya (65%), South Africa (65%), and Nigeria (63%).



<h2 class="wp-block-heading" id="h-the-h-oneypot">The Honeypot</h2>



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Visa Stay Secure 2023 CEMEA study online research was conducted across 17 CEMEA markets including the United Arab Emirates, Kingdom of Saudi Arabia, Qatar, Kuwait, Oman, Bahrain, Egypt, Pakistan, Tunisia, Morocco, Nigeria, Kenya, South Africa, Côte d’Ivoire, Ukraine, Kazakhstan, and Serbia.



In many cases, 56% of respondents claim to be highly knowledgeable at recognising a scam. However, the reality is that nine out of ten (90%) consumers typically respond to standard terms or phrases scammers utilise in emails and text messages.



Of even more concern is the fact that those who describe themselves as being “very” or “extremely” knowledgeable at recognising scams are more likely to be fooled and act on at least one type of common scam message than those who are less confident in their scam-deducing abilities. It appears that there is a strong correlation between overconfidence and being too quick to click. Or, as the common adage goes: “Pride comes before a fall.”



Indeed, it could be attributed to optimism bias, the belief that we are much less likely to experience adverse events than positive ones. So, when a friend reaches out to you to admit they fell victim to a scam, you think, “Well, that could never happen to me.” But the truth is that it could happen to any single one of us.



Visa’s study reveals a pattern of the language and scenarios that scammers tap into to nudge their victims to respond in a way that benefits their purposes. Namely: urgency, positive news, and action required.



Scammers orchestrate a sense of urgency to trigger impulsive action in their target. According to the study, in SSA being offered a financially advantageous opportunity will prompt 44% of the respondents, with 64 % Kenyans, 61 % Nigerians and 41% South Africans to click on a link. Other examples include being notified of a security risk &#8211; such as a stolen password or data breach &#8211; or receiving a notice from an authority such as a government entity or law enforcement.&nbsp;



In such scenarios, individuals must make an effort to avoid reacting instantly or impulsively. Whatever the apparent urgency at first glance – stop and take a moment to verify the credibility of the email or message. Is the email address or the phone number it was sent from valid? Does it include the company name and logo? Is the information personalized? And make sure to check for grammatical errors and spelling mistakes.



Trojan horses such as “free gift/gift card,” “you have been selected,” or “you are a winner” should set off alarm bells. Sadly, unexpected ‘good’ news is not always what it may seem at first glance. And yet, we are so keen to believe in sudden windfalls and good fortune, especially when it comes to money: the Visa Stay Secure 2023 CEMEA study found that nearly 71% of respondents would take action if the message had positive news phrases.



Relationship dynamics have also been found to play significant role, with some of the common stereotypes still very prevalent amongst adults in SSA, with Gen X and Baby boomers in these markets most concerned about retired people falling victim to scams.



The final theme in the scammer playbook is to present the target with an easily resolvable problem. For example, my friends’ outstanding import duty seemed like a quick fix, and it was a nominal amount, he didn’t dwell too much on its legitimacy. Other examples include false notices about a frozen account, problems with an order, or expiring subscriptions – all of which will prompt 60% of consumers into action.



<h2 class="wp-block-heading" id="h-exploiting-the-c-racks">Exploiting the Cracks</h2>



Overall, cybercriminals seek to extract confidential information from consumers, threatening their security. These are all cases of social engineering, where a malicious actor attempts to deceive a user to access personal information, financial data, or even corporate secrets.



Social engineering comes in various forms, many of which have made the headlines in recent years. Terminologies such as phishing, pretexting, baiting, and tailgating are now familiar to us, and yet we are still falling for the associated scams. Despite how shrewd, tech-savvy or worldly we might tout ourselves to be our most significant security risk remains – regrettably – only us!



Sometimes, we willingly offer it up by broadcasting every intimate detail of our lives, our pets’ names, and our whereabouts on social media. For scammers, this is a treasure trove they can plunder to access our personal preferences, mine to ascertain the answers to common security questions, and devise bespoke scams specifically tailored to you.



Our study found that over one in two people (52%) in the CEMEA region has been a victim of a scam at least once, while 15% have experienced being conned multiple times. With the research indicating that adults in African countries; 74% Kenyan, 72 % Nigerian and 64% South Africa, are most likely to report having been scammed.



These incidents are not the sole concern of each consumer. All it takes is for one person to put an entire organization or network at risk. That’s why we see so many headlines about cybersecurity breaches that immobilize operations or put data security to ransom – they get to the finish line by finding the weakest link, which is usually a human folly.



<h2 class="wp-block-heading" id="h-security-a-s-hared-r-esponsibility">Security, a Shared Responsibility</h2>



At Visa, we’re staying one step ahead of an increasingly sophisticated band of bad actors by taking a 360-degree approach to security. It’s working: our uncompromising commitment to security has kept fraud at historic lows. We heavily invest in cutting-edge cybersecurity, including artificial intelligence and data analytics, to detect, deter and disrupt fraud pre-emptively.



Advancements in payment security will continue to help drive down fraud. However, technology can only do so much. Consumer awareness and education are the critical first lines of defence against criminal intent.



Visa’s study is part of a more significant effort to ensure that individuals and organisations in the Sub-Saharan Africa region know the risks and can adequately safeguard themselves from attacks. Understanding the language of scams is essential in our digital-first world.



Collaborating to enforce robust legislation, prioritizing security in technological innovation, and integrating scam awareness into public safety programs are but some of the milestones on the horizon.



As technology progresses, people must preserve the human quality of curiosity and questioning. Social media and artificial intelligence can impair the foundations of trust and security. Equipping the weakest link – the consumer – with the tools they need to combat increasingly sophisticated fraudulent tactics is the only way forward for a robust and exciting digital future.

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Op-Ed: A Strategic Approach To Combatting Digital Payment Fraud In Sub-Saharan Africa  

<div class="wp-block-image">
<figure class="aligncenter size-large"><img loading="lazy" decoding="async" width="688" height="800" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/10/H.E.-Abdul-Aziz-Al-Ghurair-Chairman-of-Dubai-Chambers-688x800.jpg" alt="" class="wp-image-427818" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/10/H.E.-Abdul-Aziz-Al-Ghurair-Chairman-of-Dubai-Chambers-688x800.jpg 688w, https://cms.cnbcafrica.com/wp-content/uploads/2023/10/H.E.-Abdul-Aziz-Al-Ghurair-Chairman-of-Dubai-Chambers-258x300.jpg 258w, https://cms.cnbcafrica.com/wp-content/uploads/2023/10/H.E.-Abdul-Aziz-Al-Ghurair-Chairman-of-Dubai-Chambers-77x90.jpg 77w, https://cms.cnbcafrica.com/wp-content/uploads/2023/10/H.E.-Abdul-Aziz-Al-Ghurair-Chairman-of-Dubai-Chambers-768x893.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/10/H.E.-Abdul-Aziz-Al-Ghurair-Chairman-of-Dubai-Chambers-1320x1536.jpg 1320w, https://cms.cnbcafrica.com/wp-content/uploads/2023/10/H.E.-Abdul-Aziz-Al-Ghurair-Chairman-of-Dubai-Chambers.jpg 1696w" sizes="auto, (max-width: 688px) 100vw, 688px" /><figcaption class="wp-element-caption">H.E. Abdul Aziz Al Ghurair, Chairman of Dubai Chambers</figcaption></figure></div>


Dubai, UAE – Dubai Chambers has unveiled The Deals Hub, a new impact-driven platform that creates an innovative space for global business leaders and investors to announce partnerships and deals during the upcoming Dubai Business Forum, which takes place at Madinat Jumeirah in November.



Hosted under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, the Dubai Business Forum will bring together key stakeholders from the government and private sectors across the globe to explore strategic economic partnerships, develop international networks, and open new horizons for business, trade, and investments.



The launch of The Deals Hub creates a dedicated space to forge and announce major business initiatives, partnerships, investments, and commercial alliances, with signings witnessed by senior government officials, prominent figures from the public and private sectors, and representatives from the global media.



The innovative initiative reflects Dubai Chambers’ commitment to driving growth in international trade and investment and further consolidates Dubai’s position as a leading global city for doing business. Targeting an influential global audience, the dealmaking space will enable companies of all sizes from around the world to explore strategic economic partnerships, develop international networks, and open new horizons for business success.



H.E. Abdul Aziz Abdulla Al Ghurair, Chairman of Dubai Chambers, commented: “Dubai’s enduring commitment to business growth and innovation has established the emirate as a preferred destination for companies seeking to expand internationally and forge global partnerships. The city has emerged as a vital hub for business deals thanks to its diversified economy, favourable business environment, world-class infrastructure, and strategic location that serves as a gateway to international markets.”



<figure class="wp-block-pullquote"><blockquote>“The launch of The Deals Hub underlines Dubai’s growing position as a leading capital of the global economy and reflects the emirate’s continuing success in attracting foreign investment and supporting business expansion.”<cite>H.E. Abdul Aziz Al Ghurair, Chairman of Dubai Chambers</cite></blockquote></figure>



His Excellency added: &#8220;The Dubai Business Forum creates a unique platform for investment agreements and business deals that will unlock exciting opportunities and promote sustainable economic growth. The launch of The Deals Hub underlines Dubai’s growing position as a leading capital of the global economy and reflects the emirate’s continuing success in attracting foreign investment and supporting business expansion.”



The Dubai Business Forum is set to play a pivotal role in achieving the objectives of the Dubai Economic Agenda (D33), which was launched in January by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. The ambitious agenda features 100 transformational projects aimed at doubling the size of the emirate’s economy over the coming decade and consolidating Dubai’s position among the top three cities around the world.



The Deals Hub will host a full spectrum of agreements including major partnerships, joint ventures, and mergers and acquisitions; IPOs, large investments, and fundraising rounds; government contracts, cross-border trade agreements, and memorandums of understanding.



Underlining Dubai’s growing position as a leading capital of the global economy, the Dubai Business Forum will attract key stakeholders in sectors including technology, retail, finance, travel, hospitality, real estate, and healthcare. The landmark event will feature insightful discussions and interactive sessions aimed at shaping the future of global business, creating a dynamic platform for connecting key stakeholders and accelerating the growth of trade and investments.



The event is fully aligned with Dubai Chambers&#8217; strategic priorities, which include attracting international companies and investments to the emirate, supporting the expansion of local companies in global markets, and further enhancing Dubai’s favourable business environment.&nbsp;



The Dubai Business Forum will be hosted at Madinat Jumeirah on 1-2 November under the theme &#8216;Transforming Economic Power: Dubai and the Future of Global Trade.&#8217;



To register for the event, please visit <a href="https://register.dubaibusinessforum.com/">register.dubaibusinessforum.com</a>



<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/10/DBF_logo_centeredEN-820x482.jpg" alt="" class="wp-image-427839" style="width:267px;height:157px" width="267" height="157" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/10/DBF_logo_centeredEN-820x482.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/10/DBF_logo_centeredEN-300x176.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/10/DBF_logo_centeredEN-153x90.jpg 153w, https://cms.cnbcafrica.com/wp-content/uploads/2023/10/DBF_logo_centeredEN-768x452.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/10/DBF_logo_centeredEN.jpg 1304w" sizes="auto, (max-width: 267px) 100vw, 267px" /></figure>

FILE PHOTO: Emirates Boeing 777 planes at Dubai International Airport

Dubai Chambers unveils ‘The Deals Hub’ to unlock global trade and investment opportunities during Dubai Business Forum

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="410" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/09/image_processing20230621-1568716-nf84zy-820x410.jpg" alt="" class="wp-image-427703" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/09/image_processing20230621-1568716-nf84zy-820x410.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/09/image_processing20230621-1568716-nf84zy-300x150.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/09/image_processing20230621-1568716-nf84zy-160x80.jpg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2023/09/image_processing20230621-1568716-nf84zy-768x384.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/09/image_processing20230621-1568716-nf84zy.jpg 900w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Deputy President, Mr Paul Mashatile</figcaption></figure>



JOHANNESBURG, SEPTEMBER 2023 – South African Deputy President, Mr Paul Mashatile, is scheduled to speak at Africa Oil Week (AOW) on Tuesday 10 October, in Cape Town.



The gathering is the continent’s leading event in the upstream oil-and-gas energy space, and it sees representatives of more than 25 African governments coming together with energy policymakers, financiers and dealmakers to share insights and to map a sustainable roadmap for the development of Africa’s natural resources.



Deputy President Mashatile’s attendance at the continental showpiece comes at a time when energy is a primary concern of national policymaking in South Africa and elsewhere on the continent.



Announcing Deputy President Mashatile’s participation, Yemi Ibidunni, Event Director of event organiser Hyve Events said that the presence of a government representative as senior as Mr Mashatile confirmed the importance the South Africa’s government attached to oil and gas planning.



“There have been exciting offshore discoveries in South African territorial waters, which may herald a new dawn for the country’s oil and gas sector,” says Ibidunni. “At the same time, there have been significant discoveries in Namibia and elsewhere in Africa. This emphasises the importance of Africa’s government and business leaders coming together to discuss partnerships for energy security while enhancing regional economic development.’



Ibidunni said AOW provides the ideal platform to facilitate such discussions, as well as enabling deals, and positioning the continent as a stable destination for international investment.



This year’s AOW takes place at the Cape Town International Convention Centre 2 in Cape Town, from October 9 – 13, with the theme “Maximising Africa’s Natural Resources”.



AOW will connect&nbsp;more than 50 ministers&nbsp;and&nbsp;government leaders,&nbsp;125 expert speakers,&nbsp;and 1500 senior delegates&nbsp;across five days of industry-leading insight and elite networking opportunities, designed to drive deals and investments for the betterment of the continent.

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SA Deputy President Mashatile to speak at Africa Oil Week

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/09/CMA_Logo_jpg_image-transformed-1-820x547.jpeg" alt="" class="wp-image-427296" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/09/CMA_Logo_jpg_image-transformed-1-820x547.jpeg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/09/CMA_Logo_jpg_image-transformed-1-300x200.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/09/CMA_Logo_jpg_image-transformed-1-135x90.jpeg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2023/09/CMA_Logo_jpg_image-transformed-1-768x512.jpeg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/09/CMA_Logo_jpg_image-transformed-1-1536x1024.jpeg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2023/09/CMA_Logo_jpg_image-transformed-1-scaled.jpeg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /></figure>



Africa stands to witness impactful economic growth through the development of local mineral value chains.



As efforts to transition to a clean energy future intensify, so does the demand for critical minerals. The World Bank posits that to meet the rise in global demand and avoid the worst impacts of climate change, the production of these minerals will need to increase 500% by 2050. For mineral-rich Africa, a unique opportunity has emerged for countries to capitalize on increased global investment to stimulate sustainable economic growth. However, to maximize the value of the continent’s mineral industry, focus needs to be redirected towards local value chains. &nbsp;&nbsp;



Africa is home to over 30% of the world’s mineral reserves, with almost every single country on the continent rich in at least one critical mineral – resources which are essential for the development of green energy technologies such as electric vehicles, solar and wind installations, batteries and renewable power systems. The Democratic Republic of Congo (DRC) hosts over 70% of the world’s cobalt production; Zimbabwe holds the world’s largest reserves of hard rock lithium; Mozambique is the world’s third-largest producer of graphite; while South Africa accounts for 75% of the world’s supply of Platinum Group Metals. Additionally, Namibia is rich in uranium ore; Gabon in manganese; and Guinea in bauxite, while Zambia is the largest exporter of unrefined copper.



The resources are there, but the value? That comes with the market. Africa stands to earn a great deal more from its mineral resources through the development of competitive value chains. Downstream investments unlock job opportunities, advancements in infrastructure and skills transfer, and are poised to establish Africa as a global hub for critical minerals. Economic benefits such as the development of associated industries and strengthened fiscus will shortly follow, enabling countries to drive long-term and sustainable economic growth.



While some African countries have seen substantial success in the extraction of critical minerals, domestic markets are modest at best. Apart from South Africa, which invested heavily in beneficiation in the late 1990s, many countries continue to export the majority of their raw mineral resources. Current estimates show that up to 70% of mined minerals are exported to Europe or Asia for refining. However, many countries are eager to reserve this trend in an effort to enhance value addition, stimulate industrialization and beneficiation, and ultimately, advance economic growth. &nbsp;



To this effect, several policies have been implemented aimed at supporting the development of the domestic mineral value chain. Zimbabwe implemented a national ban on the export of unprocessed lithium resources earlier this year, with Namibia implementing a similar ban just six months after. More recently, Ghana announced the approval of the country’s Green Minerals Policy, effectively banning the exportation of unprocessed mineral resources in an effort to retain value and bolster domestic supply chains. Unfortunately, these policies will fail to bear fruit unless backed by sizeable investments in processing and manufacturing facilities. Critics have also posited that without clear strategy and diversified ownership structures in place, these policies could actually serve as deterrents to foreign investment while creating export bottlenecks.



So, what now? By putting in place favorable investment environments, governments will incentivize increased private sector participation in the mining industry. Private players and capital will lead to job creation and economic growth, infrastructure development and downstream expansion, as well as technological innovation and expertise. By incentivizing and supporting private investment, countries stand to benefit from a more diversified and robust industrial base. There has already been some progress in this area. Since implementing its ban, Zimbabwe has seen two lithium processing facilities reach completion: a $300 million plant located near the Arcadia Lithium Mine and a dual lithium plant at the Bikita mine.&nbsp;



However, investments need to go beyond mineral processing, or countries risk falling back into export-driven trends. Global management consulting company McKinsey &amp; Company explains that historically, supply chains have taken preference over value chains in Africa, leading to siloed operations in which responsibilities are distributed to optimize individual steps. In other words, capital is injected into the logistics and commercial aspects (mining, processing, rail and shipping) rather than the comprehensive market (manufacturing and assembly, research and development, product design and engineering, and more). Recent developments aim to address this nexus however.



The African Development Bank is working on the African Green Minerals Development Strategy, a policy guide for how African countries can strategically exploit their green mineral resources for industrialization. The strategy hinges on four pillars: advancing mineral development and investment; developing human and technological capacities; building key value chains through the African Continental Free Trade Agreement; and promoting mineral and environmental stewardship. The strategy reiterates the role cross-border collaboration and streamlined policies play in strengthening local value chains in Africa while drawing attention to the need for investments in skills and technology, product manufacturing and intra-African trade. This strategy is a crucial first step towards creating strong mineral value chains in Africa. Now, what’s left is alignment, and bringing capital and buyers to the African market.



The Critical Minerals Africa (CMA) summit provides a platform where investors, consumers and producers connect. Taking place in Cape Town from October 17-19 &#8211; con-currently with the continent’s biggest energy event: African Energy Week – CMA 2023 stands at the intersection of energy and mining, and represents the African critical minerals dealmaking space. The event convenes governments and the private sector, fostering engagement on a bilateral and multilateral level under efforts to advance critical minerals production and processing while planning strategic roadmaps for minerals and energy security. By linking global consumers and producers, CMA 2023 brings capital and buyers to African projects, and will serve as a catalyst for the development of local supply and value chains in Africa’s mineral hotspots.



Tickets are now available at <a href="http://www.criticalmineralsafrica.com">www.criticalmineralsafrica.com</a>.



For more information about speaker opportunities, contact <a href="mailto:speak@energycapitalpower.com">speak@energycapitalpower.com</a>.



For more information about sponsorship, contact <a href="mailto:sales@energycapitalpower.com">sales@energycapitalpower.com</a>.



For information about any strategic objectives you may have, contact <a href="mailto:james@energycapitalpower.com">james@energycapitalpower.com</a>

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From Mine to the African Market: Enhancing Value through Local Mineral Chains

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="429" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/09/AIIB-Cote-dIvoire_Inclusive-Connectivity-and-Rural-Infrastructure-Project_1200x628px_2-820x429.jpg" alt="" class="wp-image-427211" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/09/AIIB-Cote-dIvoire_Inclusive-Connectivity-and-Rural-Infrastructure-Project_1200x628px_2-820x429.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/09/AIIB-Cote-dIvoire_Inclusive-Connectivity-and-Rural-Infrastructure-Project_1200x628px_2-300x157.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/09/AIIB-Cote-dIvoire_Inclusive-Connectivity-and-Rural-Infrastructure-Project_1200x628px_2-160x84.jpg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2023/09/AIIB-Cote-dIvoire_Inclusive-Connectivity-and-Rural-Infrastructure-Project_1200x628px_2-768x402.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/09/AIIB-Cote-dIvoire_Inclusive-Connectivity-and-Rural-Infrastructure-Project_1200x628px_2.jpg 1200w" sizes="auto, (max-width: 820px) 100vw, 820px" /></figure>



The future is bright for Côte d&#8217;Ivoire and there is a noticeable social and economic shift underway.



Economic growth in the West African country averaged a blistering 9% between 2012 and 2015, with 7% growth from 2016 to 2019. Despite the deleterious effects of the COVID-19 pandemic, average growth is expected to surge to 7.7% from 2021 to 2025. Private investment is expected to rise through mid-decade, accompanied by a significant drop in poverty. Through it all, infrastructure development is expected to play a key role in raising prosperity in the country.



But the widespread optimism across Côte d’Ivoire and Africa is dulled by the shadow of huge disparities across the rural-urban and northern-southern divides and ever-present climate change. Rural connectivity is critical to enhancing accessibility and reducing the divide. With an underdeveloped rail network, the road network carries most of the traffic in Côte d’Ivoire and is crucial not only for access to basic services but also to support access for agricultural products to the international markets and to support growth. At the same time, with Côte d&#8217;Ivoire’s high climate vulnerability means its &nbsp;road network often experiences extensive damage from heavy precipitation. Climate change threatens to widen the urban-rural infrastructure gap, with ramifications for the entire country’s development.



To support the country’s needs for connectivity and climate-resilient infrastructure, the <a href="https://www.aiib.org/en/index.html">Asian Infrastructure Investment Bank (AIIB)</a> signed a loan with the Republic of Côte d&#8217;Ivoire for EUR187.4 million (USD200 million) &nbsp;for the <a href="https://www.aiib.org/en/projects/details/2023/approved/Cote-d-Ivoire-Inclusive-Connectivity-and-Rural-Infrastructure-Project.html">Inclusive Connectivity and Rural Infrastructure Project</a>. The Government of Côte d&#8217;Ivoire and the World Bank are co-financing the Project.



The Project is a milestone: It marks AIIB&#8217;s inaugural infrastructure venture in both Côte d&#8217;Ivoire and Sub-Saharan Africa, enhancing its involvement on the continent.



“AIIB is actively intensifying its efforts as we recognize the significant potential for sustainable energy and connectivity infrastructure to support sustainable growth in our African members, while contributing to global climate mitigation efforts and increased connectivity between Africa and Asia,” said Suzanne Shaw, Infrastructure Sector Economist at AIIB.



AIIB to date&nbsp;has&nbsp;nine&nbsp;previous projects in Africa, in Côte d&#8217;Ivoire,&nbsp;Egypt and Rwanda. <a href="https://www.aiib.org/en/projects/list/year/All/member/Egypt/sector/All/financing_type/All/status/All">In Egypt</a>, AIIB has financed infrastructure projects in transport, water and energy sectors and&nbsp;supported an&nbsp;<a href="https://www.aiib.org/en/projects/details/2019/approved/Egypt-National-Bank-of-Egypt-On-Lending-Facility-for-Infrastructure.html">on-lending facility through the National Bank of Egypt</a> to on-lend to&nbsp;sub-projects in the infrastructure sector. <a href="https://www.aiib.org/en/projects/list/year/All/member/Rwanda/sector/All/financing_type/All/status/All">In Rwanda</a>, through the Crisis Recovery Facility, AIIB is financing an on-lending facility to support small&nbsp;and&nbsp;medium-sized&nbsp;enterprises as part of pandemic recovery efforts. In 2022, &nbsp;AIIB supported Côte d&#8217;Ivoire <a href="https://www.aiib.org/en/projects/details/2022/approved/Cote-d-Ivoire-Strengthening-of-Vaccination-and-Health-Systems-under-the-COVID-19-Strategic-Preparedness-and-Response-Project.html">to strengthen its vaccination and health systems through the same Facility</a>. &nbsp;



The Côte d&#8217;Ivoire Inclusive Connectivity and Rural Infrastructure Project addresses 11 underserved regions in the country’s north and involves upgrading and climate-proofing rural roads to improve access to schools, health services and rural markets. The Project will also develop climate-resilient infrastructure in the agri-logistics chain, a key component of economic activity in the northern regions which depend heavily on agriculture. Women, in particular, stand to benefit as they are disproportionately affected by the poor quality of roads and infrastructure, which limit their access to education, health care and active economic involvement.



Shaw notes that, “As a development partner, AIIB places high importance on aligning investments with the development priorities of its Members while adhering to the Bank’s commitment to sustainability.” &nbsp;



Through the Project, 7,000 kilometers of rural roads will be developed and 15,000 kilometers maintained, granting dependable all-weather access to around 3.67 million individuals . Together with the development of climate-resilient agri-logistics infrastructure, the Project will strengthen the economic activity and trade connectivity of the regions, creating stronger links with Asia.



The undertaking involves the country’s prime cotton and cashew-producing areas. Combined, these agricultural products represent about 50% of exports to Asia. The aim is to curtail post-harvest losses, decrease transportation costs and alleviate bottlenecks in transporting agricultural goods, notably with Asia. Noteworthy is Côte d&#8217;Ivoire&#8217;s consistent trade growth with Asia, averaging around 12% annually.



“Investments which enhance trade connectivity within and outside the African region facilitate international movement of goods, technology and people, which is crucial to remain competitive and achieve growth in the globalized world”, said Shaw.



According to Shaw, the Project will also support capacity building of private sector entities to position them to play a larger role in long term road infrastructure development and maintenance, to continue the works and remain active beyond the life of the project.



In addition to the Project’s connectivity benefits, it is also considered ‘green infrastructure’. All key thoroughfares within the Project regions will be made resilient against climate-related challenges. Notably, 51% of the loan, roughly USD102 million, is dedicated to climate adaptation financing.



Furthermore, the Project includes measures to mitigate the effects of climate change through nature-based solutions in road infrastructure development, such as tree planting, while incorporating climate resilience into road safety, road asset management, and road maintenance planning and execution. The initiative demonstrates AIIB&#8217;s&nbsp; commitment to advancing sustainable practices and aiding Members in fulfilling their Paris Agreement pledges.



“Connectivity and green infrastructure are important pillars for achieving sustainable economic growth in Africa,” said Shaw. “Enhancing energy access, increasing low-carbon energy-related infrastructure, and fostering e-mobility, are key&nbsp; green infrastructure areas with significant potential&nbsp; to build sustainable growth in Africa. Investments in these areas can deliver local environmental improvements and/or contribute to climate action, supporting development with sustainability at its core.”



Through its work in Côte d&#8217;Ivoire, AIIB seeks to further explore <a href="https://www.aiib.org/en/about-aiib/who-we-are/infrastructure-for-tomorrow/connectivity-and-regional-cooperation/index.html">connectivity</a> and <a href="https://www.aiib.org/en/about-aiib/who-we-are/infrastructure-for-tomorrow/green-infrastructure/index.html">green infrastructure</a> needs in the emerging economies of Africa. AIIB also hopes &nbsp;its participation in infrastructure financing in Africa can serve to attract private-sector interest in infrastructure investments in the region.



Under the theme “Sustainable Growth in a Challenging World”, AIIB is holding its <a href="https://bit.ly/3Ed0cFu">first Annual Meeting in Africa on September 25-26, 2023</a>, in the Egyptian city of Sharm El Sheikh. Registration to attend in-person will be closed at 11:59 p.m., September 10, 2023 (GMT+8). AIIB’s Annual Meeting program provides a rich variety of engaging sessions that explore the latest trends and issues relevant to sustainable growth and infrastructure connectivity.



“Our cooperation across various fronts in Africa is in its nascent stages,” said Konstantin Limitovskiy, Vice President of Investment Operations at AIIB. “Our team expects to build strong relationships with infrastructure players in Côte d&#8217;Ivoire and Africa and explore new opportunities in the sector to expand connectivity and resilience en route to a cleaner, greener and sustainable planet. Exciting opportunities abound. Our work has only just begun.”

AIIB-Cote-dIvoire_Inclusive-Connectivity-and-Rural-Infrastructure-Project_1200x628px_2

AIIB Expands Investment in Africa with First Sub-Saharan Infrastructure Project

<div class="wp-block-image">
<figure class="aligncenter size-large"><img loading="lazy" decoding="async" width="619" height="800" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/08/Photo-of-Hanjo-Fourie-Sep-2020-619x800.jpg" alt="" class="wp-image-427157" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/08/Photo-of-Hanjo-Fourie-Sep-2020-619x800.jpg 619w, https://cms.cnbcafrica.com/wp-content/uploads/2023/08/Photo-of-Hanjo-Fourie-Sep-2020-232x300.jpg 232w, https://cms.cnbcafrica.com/wp-content/uploads/2023/08/Photo-of-Hanjo-Fourie-Sep-2020-70x90.jpg 70w, https://cms.cnbcafrica.com/wp-content/uploads/2023/08/Photo-of-Hanjo-Fourie-Sep-2020-768x992.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/08/Photo-of-Hanjo-Fourie-Sep-2020.jpg 878w" sizes="auto, (max-width: 619px) 100vw, 619px" /><figcaption class="wp-element-caption">Hanjo Fourie, Head of Santam Agri Underwriting and Technical</figcaption></figure></div>


Cape Town, 28 August 2023: South Africans are always happy to welcome the summer season, but for the commercial agriculture sector, the transition to summer also ushers in one of the biggest natural risks that farmers face – hail – causing billions of rands in losses every year.



The South African hail season typically begins in October and runs till March, says Hanjo Fourie, head of Santam Agri Underwriting and Technical. In terms of the crops that are most affected by hailstorms he explains: “Most of the summer grain production areas of the country are at risk of hailstorms affecting crops like maize, sunflower, beans and wheat. The fruit production areas of the Lowfield, Western-, and Northern Cape are also at risk, especially during the first part of the summer season and in April during the change over from summer to autumn.”



Underscoring the magnitude of the risk to not only farmers but also insurers, he goes on to explain that high-value crops like fruit and grain under irrigation’ insured values per hectare are high, and the risk is concentrated to a relatively small area, which increases the possibility for larger claims. Fourie elaborates that the percentage of crop loss is highly dependent on the growth stage of the crop when a hailstorm occurs. “Crops like soya beans, dry beans and sunflower can easily suffer 100% damage during early vegetative growth stages, while maize are more sensitive during the flowering stages of the crop,” he explains. On the main summer crops like maize, soya beans, dry beans, sorghum, and sunflower a sliding scale was implemented which will increase damages progressively from 60% damage to 85% damage., where 85% damage get 100% compensated. The sliding scale will support farmers with replant cost, especially where high percentage damages occurred.



Indicating the severity of this and other crop risks – Santam paid out over R1 billion in crop claims in 2021.



In terms of managing damaged crops in the aftermath of a destructive hail event, Fourie advises that maintaining farming practices is essential for the recovery of the crops. “It’s important to perform normal farming practices after suffering hail damage to enhance the recovery of the crop.” Hail, although significant, is not the only summer season risk that crop farmers have to contend with. “From a production point of view hail, fire and frost are the biggest risks to consider. Hail particularly poses a big risk to grain and fruit production in various areas. But later in the season when the crops are ready to harvest, fire poses a greater risk – it’s vital that farmers included fire damage in their crop insurance policies,” he urges.



Another serious risk to contend with this summer, particularly for summer grain farmers, is locusts.



Crops like maize, soya beans, grain sorghum and sunflower are expected to suffer significant locust damage. In 2021/2022, more than 23 million hectares of land were affected by locust outbreaks; it was the worst outbreak in 25 years.



He reassures farmers that, locust damage is still included in Santam’s cover, amongst others.



Production risks, such as the ones listed above, can negatively impact a commercial farm’s profitability, its liquidity, and even the sustainabilty of its operations. But Crop insurance is an ideal instrument for farmers to mitigate these production risks, says Fourie. There are three key strategies that modern farmers typically evaluate during the decision-making process: reduce the probability of the occurrence of a possible contingency, transfer the risk utilising insurance, or mitigate the impact of production risks, if they do occur. Most producers make use of risk transfer, using crop insurance to hedge against product risks.



The current landscape means that farmers are already contending with higher input costs like diesel, fertilizer, and pesticides among others. This increases the cost of production for farmers which makes it even more important to mitigate production risks. To ensure there is a return on capital invested, and thereby the sustainability of the operation secured, the impact of production risks must be managed sufficiently.



However, farming businesses cannot produce any return without taking on risk, asserts Fourie. “Producers must evaluate the cost of risk transfer versus the impact of risk exposure on capital. The impact of the risk on the producer’s income and ability to tolerate risk are often influenced by the farmer’s risk profile,” he says.



Additionally, working out how much cover a farming operation will need in a year can be challenging. Fourie offers up best practice advice in this regard: “A good method of ensuring a sufficient amount of hail cover, for instance, is purchased to protect the farm’s balance sheet, is for farmers to use their long term produced yield over time as a benchmark. Crop insurance cover is structured in a way that the farmer can decide how much cover he/she needs to mitigate their risk. A good practice is to make crop insurance part of the input cost budget, rather than insuring selectively by trying to read the season for the possibility of hail. Nature is unpredictable and we’ve seen too many farmers get caught with insufficient cover,” warns Fourie.

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