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<p>At the ongoing WEF Davos forum 2019 CNBC Africa spoke to Rwanda’s Central Bank Governor John Rwangombwa who says that the country’s growth projections are expected to increase to 8.2 per cent.</p>


Rwanda’s growth projections to increase to 8.2%

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<p>Sahara Power Group Limited Group Managing Director Kola Adesina says Africa must improve access to electricity as to harness the digital revolution. He added that whereas the world is talking of the 4th revolution the continent still lags behind in the second. Adesina spoke with CNBC Africa’s Fifi Peters at the World Economic Forum in Davos on how the power sector is impacting Africa&#8217;s journey to globalisation.</p>


More needs to be done to advance Africa’s digital revolution – Kola Adesina


<p>By Chris Bishop.</p>



<p>The next time you put your credit card into the machine, be
afraid, be very afraid. Ogenene man’s terrorist can be another man’s cash cow,
according to two of the world’s leading experts on cyber-terrorism.</p>



<p>Retired &nbsp;four star
general, in the US Marines, John Allen, a former commander of NATO’s
International Security Assistance Forces, and Karin Von Hippel, a former senior
adviser to the US Department of State, who worked on security for the United
Nations and European Union in Somalia and Kosovo, spoke at the World Economic
Forum in Davos, Switzerland Wednesday. They painted a bleak picture of threats
and radicalism lurking on the dark web.</p>



<p>“I wouldn’t put my credit card into a machine today. This is
happening right now,” says Allen when I asked him about how far away were we
from cyber-terrorism cleaning out bank accounts.</p>



<p>“A cyber terrorist can open a bank account on a Monday;
start cleaning people’s accounts out on a Tuesday and start supplying money to
their cause on a Wednesday. I saw a case of a bank in Bangladesh that was
cleaned out of $80 million dollars in one day. We have to develop strong
systems to defend our financial systems.”</p>



<p>Cyber- terrorists were becoming ever more clever and
ubiquitous, said Von Hippel. The Islamic Isis movement, in Syria, attracted
40,000 volunteers from 120 countries and many of them used the internet to
further their cause.</p>



<p>“They are all out there in the cloud and the dark web doing
their work. They move so fast that it is very hard to keep up with,” says Von
Hippel.</p>



<p>Allen said it was up to the world to combat this by spending
more money of tackling the root causes of this so called cyber-terrorism.</p>



<p>“If we spent half as much money on easing the causes of this
terrorism, as we do fighting it, we would not drive so many youths into the
arms of the radicals,” says Allen.</p>



<p>But despite these doomsday predictions, Von Hippel pointed
out that people should not panic.</p>



<p>“Despite all of this, you’ve still got a bigger chance of
dying in the bathtub than you do in a terrorist attack,” she quipped at the end
of the eye-opening session.</p>


cybersecurity_shutterstock

Cyberterror: The next time you put your card in the machine- be afraid, be very afraid

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<p>The World Economic Forum says there are opportunities for investment in the capacities of people and communities to attain self-reliance. So how can African corporations tap into these opportunities to unlock new capital and scale up local markets? Oscar Onyema, CEO of the Nigerian Stock Exchange joins CNBC Africa’s Fifi Peters in Davos for this discussion.</p>


Why we attended WEF Davos 2019 – NSE’s Oscar Onyema

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<p>African banks are beginning to recognise that the risk acceptance criteria for the youths are slightly under financial inclusion. This is according to Jim Ovia, Chairman of Zenith Bank. He discussed this and how African youths can take advantage of the fourth industrial revolution.</p>


Zenith Bank Chair talks on empowering Africa’s youth in the digital era

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<p>Zimbabwe’s Finance Minister Mthuli Ncube spoke to CNBC Africa’s Chris Bishop about the task of reviving the country’s economy, on the side-lines of the World Economic Forum in Davos Switzerland.</p>


Zimbabwe’s plan to woo investors in #Davos

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<p>Vice Chancellor of the University of Cape Town Professor Mamokgethi Phakeng spoke to CNBC Africa’s Fifi Peters on the impact of the Fourth Industrial Revolution on tertiary institutions.</p>


Mamokgethi Phakeng on how tertiary institutions can best prepare for the 4th Industrial Revolution


<p>By Chris Bishop</p>



<p>Carbon should be priced into infrastructure projects, not
only to help protect the environment but also to attract more private money towards
filling the world’s one trillion dollar-a year infrastructure gap.</p>



<p>Infrastructure dominated one of the first sessions of the
World Economic Forum at Davos, Switzerland, that got underway, in earnest,
Tuesday. More than 60 heads of state and thousands of business and investment
experts from around the world will gather in the ski resort this week to
discuss how to fix a broken world, deal with new technology, and tackle climate
change.</p>



<p>“Carbon should be priced into infrastructure projects and
that will act as an economic trigger for private money to come in because not
only will it mean more revenue it will help us put more money into saving the
environment,” says Gregory Hodkinson, the CEO of one of the world’s biggest
infrastructure companies, Arup, that turns over more than a billion pounds a
year.</p>



<p>“The money is there. Investors sank six trillion dollars
into Untied States junk bonds last year. If investors are prepared to roll the
dice on &nbsp;junk bonds what about
infrastructure investment?”</p>



<p>One of the stumbling blocks for infrastructure investment,
in everything from roads and power to water, is securing government backing.
The panel discussion heard that 65% of world infrastructure projects are
unbankable without government guarantees and support. It can often be a
fractious relationship between investor and government officials, the session
heard. Heng Swee Keat, the Cambridge-educated finance minister of Singapore,
said the relationship between the public and private sectors could be “lumpy.”</p>



<p>“I remember a man coming to me and saying he was never going
to invest in infrastructure in your country again, I asked him ‘why’ and he
said, because the last time we invested and made money the government came back
to us and asked: ‘Why are you making so much money!’’’ says Swee Keat, who used
to be Parliamentary Private Secretary to the late father of infrastructure, on
the island, premier Lee Kuan Yew.</p>



<p>Hodkinson, who has been working in infrastructure for 40
years, said investment could no longer ignore the future, nor the environment,
otherwise next generation would suffer.</p>



<p>“Even if someone is building a car parking garage I ask what
else can they do with it because they won’t need it one day”,” says Hodkinson.</p>



<p>“We need political leadership in this fractured world…otherwise
we are going to get easy political leadership preying on people’s fears. </p>



<p>Smart cities – tailor-made for people with the help of
information about their needs gathered from the interest – was touted as one
popular answer to the infrastructure gap.</p>



<p>“We asked people if they were happy to provide personal
information to this end. Even in this world where people are frightened of
sharing their personal information, 47% said they would to get better
infrastructure,” says Michael Burke, the CEO of the NYSE-listed AECOM in the
United States that turns over more than $18 billion a year.&nbsp;&nbsp;&nbsp; </p>


This is how Africa can pay for its infrastructure gap

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<p>CNBC Africa&#8217;s Fifi Peters spoke to the Executive Chairperson of African Fashion International, Dr Precious Moloi-Motsepe on the side-lines of the activities at the opening day of the World Economic Forum about her impressions on the effectiveness of the meeting in facing global challenges.</p>


Precious Moloi-Motsepe on the effectiveness of #WEF in tackling inequality

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<p>At the World Economic Forum 2019 in Davos CNBC Africa’s Fifi Peters spoke to Benedikt Sobotka, CEO of Eurasian Resources Group on opportunities, challenges of doing business in Africa and how corporations can effectively prepare for these changes accompanying globalisation 4.0.</p>


Opportunities, challenges of doing business in Africa – Eurasian Resources Group CEO

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<p>Uzoma Dozie, CEO of Diamond Bank sheds light on the banks successes and explains why its merger with Access Bank is not a sign of failure but success.</p>


Uzoma Dozie: Access Bank’s merger with Diamond Bank is not a sign of our failure but success


<p>By Chris Bishop</p>



<p>It&#8217;s the World Economic Forum in&nbsp;Davos again, which
means money and presidents in and its people out.</p>



<p>For nearly 30 years the tiny ski-resort of Davos, in the mountains of Switzerland &#8211; population just over 10,000 &#8211; has played host to the annual business bash that is WEF.</p>



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<p>Scores of people in Davos shut their shops, rent out their
apartments and head&nbsp;for sunnier climes. The apartment trade is at a
premium this year as many more delegates, than Davos has residents, try to cram
into scarce accommodation. Homeowners have charged up to $45,000-a-week for
accommodation.</p>



<p>&#8220;I got a room for&nbsp;$10,000 for one week and that is
very cheap,&#8221; says Luigi Matrone, a Geneva-based tech entrepreneur who will
be at WEF looking for&nbsp;investors. They too pay the price for being at
Davos- more than $30,000&nbsp;just to be able to attend and network.</p>



<p>Yet many residents&nbsp;complain this wealth does not
trickle down to the people.</p>



<p>&#8220;It is only the rich of this town&nbsp;who make the
money, most of us never see it,&#8221; says&nbsp;a Davos resident on the
streets.</p>



<p>&#8220;I find it all very stressful, we have many&nbsp;people
all over the place during WEF week.&#8221; says another resident.</p>


#WEF19: Presidents in people out – that’s Davos


<p>Billionaire fortunes increased by 12
percent last year – or $2.5 billion a day &#8211; while the 3.8 billion people who
make up the poorest half of humanity saw their wealth&nbsp;<em>decline&nbsp;</em>by
11 percent, reveals&nbsp;a new
report from Oxfam today. The report is being launched as political and business
leaders gather for the World Economic Forum in Davos, Switzerland.</p>



<p>‘<em>Public Good or</em>&nbsp;<em>Private
Wealth’</em>&nbsp;shows the growing gap between rich and poor is undermining the
fight against poverty, damaging our economies and fuelling public anger across
the globe.&nbsp; It reveals how governments are exacerbating inequality by
underfunding public services, such as healthcare and education, on the one
hand, while&nbsp;under
taxing&nbsp;corporations and the wealthy, and failing to clamp down on tax
dodging, on the other.&nbsp;&nbsp;It
also finds that women and girls are hardest hit by rising economic inequality.</p>



<p>Winnie Byanyima, Executive Director of Oxfam
International, said:</p>



<p><em>“The size of your bank account should not dictate how
many years your children spend in school, or how long you live – yet this is
the reality in too many countries across the globe. While corporations and the
super-rich enjoy low tax bills, millions of girls are denied a decent education
and women are dying for lack of maternity care.”</em></p>



<p>The report reveals that the number of billionaires has
almost doubled since the financial crisis, with a new billionaire created every
two days between 2017 and 2018, yet wealthy individuals and corporations are
paying lower rates of tax than they have in decades.</p>



<p>·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Getting the richest one percent to pay just 0.5
percent extra tax on their wealth could raise more money than it would cost to
educate the 262 million children out of school and provide healthcare that
would save the lives of 3.3 million people.</p>



<p>·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Just four cents in every dollar of tax revenue
collected globally came from taxes on wealth such as inheritance or property in
2015. These types of tax have been reduced or eliminated in many rich countries
and are barely implemented in the developing world.</p>



<p><a>·</a>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tax rates for wealthy individuals and corporations
have also been cut dramatically. For example, the top rate of personal income
tax in rich countries fell from 62 percent in 1970 to just 38 percent in 2013.
The average rate in poor countries is just 28 percent.</p>



<p>·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In some countries, such as Brazil, the poorest 10
percent of society are now paying a higher proportion of their incomes in tax
than the richest 10 percent.</p>



<p>At the same time, public services are
suffering from chronic underfunding or being outsourced to private companies
that exclude the poorest people.&nbsp;&nbsp;In many countries a decent
education or quality healthcare has become a luxury only the rich can afford.
Every day 10,000 people die because they lack access to affordable healthcare.
In developing countries, a child from a poor family is twice as likely to die
before the age of five than a child from a rich family. In countries like Kenya
a child from a rich family will spend twice as long in education as one from a
poor family.</p>



<p>Cutting taxes on wealth predominantly benefits men who
own 50 percent more&nbsp;wealth than women globally, and control over 86
percent of corporations.&nbsp;&nbsp;</p>



<p>Conversely, when public services are neglected poor
women and girlssuffer most. Girls are pulled out of school first when the money
isn’t available to pay fees, and women clock up hours of unpaid work looking
after sick relatives when healthcare systems fail. Oxfam estimates that if all
the unpaid care work carried out by women across the globe was done by a single
company it would have an annual turnover of $10 trillion – 43 times that of
Apple, the world’s biggest company.</p>



<p><em>“People across the globe are angry and
frustrated.&nbsp; Governments must now deliver real change by ensuring
corporations and wealthy individuals pay their fair share of tax and investing
this money in free healthcare and education that meets the needs of everyone &#8211;
including women and girls whose needs are so often overlooked. Governments can
build a brighter future for everyone – not just a privileged few,”&nbsp;</em>added Byanyima.</p>


Oxfam report reveals billionaire fortunes grew by $2.5 billion a day last year while poorest saw their wealth fall, here’s why…

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<p>Just a few days to go to the World Economic Forum 2019 in Davos Switzerland, Sean Drake founder and entrepreneur at the Wealth Project joins CNBC Africa to discuss what the year might have in store for investors and entrepreneurs.</p>


Here’s what 2019 has in store for entrepreneurs

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<p>As the as reports of police crackdowns and internet shutdown in Zimbabwe ensues, what does it this mean for those doing business in Zimbabwe? The CEO of DHL Express Sub Saharan Africa, Hennie Heymans discusses doing business with not internet connectivity and why its best for business to have a long view in Africa.</p>


DHL CEO: Why we staying in # Zimbabwe


<p>By Chris Bishop</p>



<p>President Cyril Ramaphosa said Wednesday that South Africa’s
Reserve Bank will be left alone despite concerns that the economy is not
creating enough jobs.</p>



<p>The Reserve Bank, a private company with shareholders,
manages the country’s monetary policy based around inflation targeting.&nbsp;</p>



<p>“There is no interest whatsoever to tamper or tinker with
the independence of the Reserve Bank,” Ramaphosa said at a pre-Davos breakfast
at a Johannesburg hotel.</p>



<p>“Our wish is as it goes about with policy it should keep an
eye on the issue of employment.”</p>



<p>The Reserve Bank has cropped up in many political speeches
in recent years as the South African economy has struggled. Critics say the
central bank should forget about inflation and concentrate on stimulating job
creation &#8211; an analysis dismissed as facile and unworkable by the people who run
the central bank.</p>


President Ramaphosa: This is what we plan to do with South African Reserve Bank


<p>By Chris Bishop&nbsp;</p>



<p>President Cyril Ramaphosa took on the thorny issue of land
that is likely to raise a number of uncomfortable questions at the World
Economic Forum in Davos next week.</p>



<p>The ruling &nbsp;African National Congress surprised many
last year when it vowed to go along with land expropriation without
compensation in line with the calls from the radical opposition party the
Economic Freedom Fighters. It sent shivers down the spine of many foreign
investors who fear it could be the thin end of a nationalisation wedge.</p>



<p>“It will not be done out of vengefulness where people go
around grabbing land. That is how we do things in South Africa,” Ramaphosa told
a pre-Davos breakfast in Johannesburg.</p>



<p>“We are not going to cut off our noses to spite our faces
but we are going to push the interests of our people.”</p>



<p>Ramaphosa said the furore around land has put the issue to
the top of the agenda, which was good. He said it had lit a fire under
government to move it forward in sorting out the land question.</p>



<p>“Landowners have also come forward saying they now realise
how important this is and have offered to &nbsp;put land into the pot.” Says
Ramaphosa.</p>



<p>The president said the government would concentrate on
appropriating state owned, abandoned and unused land.</p>



<p>The ruling ANC goes to the polls in May in the hope of
extending its nearly 25-years in power in South Africa. It is unlikely to lose
its grip on power but knows that the land issue is likely to be a vote winner.</p>


Davos

Rwanda’s growth projections to increase to 8.2%

More needs to be done to advance Africa’s digital revolution – Kola Adesina

Cyberterror: The next time you put your card in the machine- be afraid, be very afraid

Why we attended WEF Davos 2019 – NSE’s Oscar Onyema

Zenith Bank Chair talks on empowering Africa’s youth in the digital era

Zimbabwe’s plan to woo investors in #Davos

Mamokgethi Phakeng on how tertiary institutions can best prepare for the 4th Industrial Revolution

This is how Africa can pay for its infrastructure gap

Precious Moloi-Motsepe on the effectiveness of #WEF in tackling inequality

Opportunities, challenges of doing business in Africa – Eurasian Resources Group CEO

Uzoma Dozie: Access Bank’s merger with Diamond Bank is not a sign of our failure but success

#WEF19: Presidents in people out – that’s Davos

Oxfam report reveals billionaire fortunes grew by $2.5 billion a day last year while poorest saw their wealth fall, here’s why…

Here’s what 2019 has in store for entrepreneurs

DHL CEO: Why we staying in # Zimbabwe

President Ramaphosa: This is what we plan to do with South African Reserve Bank

President Ramaphosa reveals what team SA, plans to tell investors in Davos on concerns over land expropriation

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Davos

Rwanda’s growth projections to increase to 8.2%

More needs to be done to advance Africa’s digital revolution – Kola Adesina

Cyberterror: The next time you put your card in the machine- be afraid, be very afraid

Why we attended WEF Davos 2019 – NSE’s Oscar Onyema

Zenith Bank Chair talks on empowering Africa’s youth in the digital era

Zimbabwe’s plan to woo investors in #Davos

Mamokgethi Phakeng on how tertiary institutions can best prepare for the 4th Industrial Revolution

This is how Africa can pay for its infrastructure gap

Precious Moloi-Motsepe on the effectiveness of #WEF in tackling inequality

Opportunities, challenges of doing business in Africa – Eurasian Resources Group CEO

Uzoma Dozie: Access Bank’s merger with Diamond Bank is not a sign of our failure but success

#WEF19: Presidents in people out – that’s Davos

Oxfam report reveals billionaire fortunes grew by $2.5 billion a day last year while poorest saw their wealth fall, here’s why…

Here’s what 2019 has in store for entrepreneurs

DHL CEO: Why we staying in # Zimbabwe

President Ramaphosa: This is what we plan to do with South African Reserve Bank

﻿President Ramaphosa reveals what team SA, plans to tell investors in Davos on concerns over land expropriation

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President Ramaphosa reveals what team SA, plans to tell investors in Davos on concerns over land expropriation