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<p>As discoveries of crude oil continue to be made in East Africa, financial institutions are looking to tap into opportunities in the ever growing downstream business.</p>


Financial institutions seek to tap into East Africa’s oil discovery

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<p>Muyiwa Oni, Regional Head of Equity Research for WA at the Standard Bank Group joins CNBC Africa to unpack CBN Q1 2018 credit conditions survey report and give a credit outlook for the rest of the year.</p>


Unpacking CBN Q1 2018 credit conditions survey report

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<p>Standard Bank announced its global headline earnings for the year to end-December 2017 increased by 14 per cent to R26.3 billion.</p>


West Africa lifts Standard Bank’s FY numbers

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<p>Nigeria&#8217;s Central Bank has issued a directive that prevents banks with low Cash Adequacy Ratios and a high ratio of Non-performing loans from paying dividends.</p>


CBN tightens rules on dividend payment by banks

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<p>There are tough times for the shrinking platinum industry in Africa as prices fall and new innovation that could spark recovery look remote.</p>


22 000 jobs at risk in SA’s platinum sector

<p>By Standard Bank</p>
<p>Standard Bank notes that the <a href="http://cnbc.africa/category/insights/anc-elective-conference/">African National Congress</a> has elected a new leadership and National Executive Committee.  We congratulate the new Top 6 and NEC members.</p>
<p>As the ANC is the governing party, the choices it makes are of great importance for all South Africans. The ANC’s policy decisions and style of governance are the most important influences on the performance of the South African economy. </p>
<p>What the ANC decides now, and how it implements those decisions, will largely determine whether more inclusive and more rapid growth will be possible &#8211; or whether our economy will continue to stagnate. </p>
<p>As a leading contributor to the economic development of our country, Standard Bank has a right and a duty to argue for policies and approaches to governance that will reverse South Africa’s economic decline and that will foster the conditions for much faster and more inclusive growth, more job creation, and further transformation.  </p>
<p>Far-reaching structural reform is urgently required. We call on the new-elected ANC leadership to adopt policies and set the direction of government to:<br />
•	Reinforce Constitutionalism and the rule of law, and ensure that the appropriate authorities  take quick and decisive action against public and private sector corruption<br />
•	Prevent the fiscal deficit from rising to unsustainable levels and start a credible process of fiscal recovery. This requires reinforcing the authority of the National Treasury, improving the quality of revenue collection and of public expenditure, and reducing the government’s contingent liabilities arising from debts of the State-owned Enterprises<br />
•	Reform the governance and management, and strengthen the capital and liquidity structures, of the State-owned Enterprises<br />
•	Stabilise and modernise the regulatory environments in the mining, energy and communications sectors<br />
•	Clarify rural property rights and accelerate land reform<br />
•	Implement a sustainable system for financing tertiary education which enables all academically qualified students to study.<br />
Taking these steps will restore business and consumer confidence and will enable South Africa to grow fast enough to prevent unemployment and poverty from worsening.</p>
<p>To set South Africa firmly on the path to prosperity, we also require new large-scale investments in infrastructure by both the public and private sectors.  Major reforms of our primary, secondary and vocational education systems, of the health system, and of many local, provincial and national departments and agencies are needed.  We will not be able to generate the resources required for these larger and longer-term projects unless we implement the urgent reforms listed above.</p>
<p>Standard Bank remains entirely confident in the strength of South Africa’s democratic institutions and the future of the South African economy. We are committed to supporting the transformation of South Africa into a more equitable and prosperous society. We look forward to engaging with the new ANC leadership on these and other policy matters and to continuing to play our part in achieving inclusive and sustainable growth.</p>


Standard Bank’s open letter to ANC’s new president Cyril Ramaphosa

<p><em>By Standard Bank</em></p>
<p>The Standard Bank Group is pleased to announce that it has appointed Lungisa Fuzile, former Director-General of the National Treasury, as Chief Executive of the Standard Bank of South Africa (SBSA), the largest business within the Standard Bank Group.</p>
<p><img loading="lazy" decoding="async" class="aligncenter wp-image-294320 size-full" src="http://cnbc.africa/wp-content/uploads/2017/12/Lungisa-Fuzile_GettyImages_RZ.png" alt="" width="850" height="566" /></p>
<p>Mr Fuzile’s appointment is in line with the Group’s commitment to ensure that we have the highly skilled human capital and strong leadership required to deliver on the Group’s vision to be the leading financial services organisation in, for and across Africa, delivering exceptional client experiences and superior value.</p>
<p>Mr Fuzile will be accountable to the Board of SBSA, with a reporting line to Group Chief Executive Officer Sim Tshabalala. Mr Fuzile will join both the Group Executive Committee and the Group Management Committee.</p>
<p>Sim Tshabalala says: “We welcome Mr Fuzile to the Group and look forward to working with him in his new role. Mr Fuzile has an outstanding reputation in our industry. He will play a critical role in helping the Group to provide consistently excellent service, meet our financial targets, and achieve the Group’s purpose: Africa is our home we drive her growth.”</p>
<p>Mr Fuzile says “I look forward to joining the team at Standard Bank and to making a meaningful contribution to the success of SBSA and the Group as a whole.”</p>
<p>Mr Fuzile’s appointment is effective 15 January 2018.</p>


Standard Bank Group appoints former National Treasury DG Lungisa Fuzile as CEO of its South African operation

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<p><em>This content was supplied to CNBC Africa by Standard Bank</em></p>
<p>The past year has been one of economic progress for Nigeria, with Africa’s largest economy managing to crawl back into growth territory in the second quarter of 2017.</p>
<p>The Nigerian government has realised that it needs to make the country as attractive and lucrative as possible for offshore investors to bring their capital, skills and business trade into the country. One way is to provide tax holidays to “pioneer companies,” who are engaged in the production of export goods, establishing new industries, or expanding production in vital sectors of the economy.</p>
<p>Pioneer companies that are eligible under the Industrial Development (Income Tax Relief) Act can enjoy an income &#8220;tax holiday&#8221; for a period of up to five years. In addition, pioneer companies enjoy other benefits such as the exemption from withholding tax on dividends paid out of pioneer profits.</p>
<p>Here’s a look at investment opportunities to consider:<br />
<strong><br />
MANUFACTURING</strong><br />
Nigeria’s population is an estimated 186 million people. This population suggests a massive potential workforce as well as a consumer base. For a manufacturer this is an ideal scenario, not only do you have potential customers, but you also have potential employees. The Nigerian government is eager to expand the manufacturing capability in the country, and to that end they are offering incentives for manufacturers that are able to locally source their raw materials, for example agro-allied manufacturers processing foodstuffs such as fruit juices and vegetable oils.</p>
<p><img loading="lazy" decoding="async" class="alignnone size-full wp-image-293877" src="http://cnbc.africa/wp-content/uploads/2017/12/Manufacturing.jpg" alt="" width="2048" height="1377" /></p>
<p>Any manufacturing industry that provides multiplier effect solutions for the economy is also looked upon favourably. An example of this would be machine tools, flat sheet metal, and spare parts manufacturing. Finally, any investment in research institutes, especially those that focus on adaptive research and commercialisation of local inventions, is looked upon favourably by the Nigerian government.</p>
<p><strong>INFORMATION AND COMMUNICATION TECHNOLOGY SERVICES </strong><br />
Nigeria is one of the fastest growing internet users in the world. According to Statista, a global statistics company, there are approximately 76.2 million Nigerian internet users as of 2017. This is an increase of nearly 50 percent from the 2013 figure of 51.8 million. There are millions of Nigerians who are interested in involving themselves in Information Communications and Technology Services (ICTS). This new economy does not require someone to be in a specific location to provide the service needed, rather they can be located anywhere in the world. An organization that has seen the potential in Nigeria is US-based software trainer Andela. The company offers learning programmes for young adults who are wanting to become computer programmers. The learning programme is a 2-year practical course where the learner interacts with companies around the world and assists them in building programmes, websites, and mobile applications. After the conclusion of the programme the learner is able to provide remote programming support to companies that they have built a relationship with. By tapping into the under developed skills of the Nigerian youth, there are countless opportunities for new economy companies to develop technology leaders of the future in Nigeria and in the rest of Africa.</p>
<p><strong>AGRICULTURE </strong><br />
Nearly one third of all employed Nigerians find themselves working in the agricultural sector, which is one of the country’s main foreign exchange earners. The Nigerian government has set up incentives to help modernise and mechanise their agricultural industry. Not only will locally grown foodstuffs be promoted on behalf of the investor, business and enabling companies may receive the pioneer company status and qualify for tax incentives.</p>
<p>Subsidies on fertiliser, and zero import duties on raw materials needed to manufacture livestock feed are some of the other incentives to attract investors to this sector. Another is the release of grants from the Raw Materials Research and Development Council for research and development that leads to the greater domestic use of Nigeria’s raw materials.</p>
<p><strong>PRIVATE EDUCATION</strong><br />
The need for skilled trades persons, computer programmers, and agricultural workers will only increase in demand as Nigeria transforms its economy and becomes an international economic power. At present there is an opportunity for private education to offer specific programmes that are in demand in the country. Nigeria is a country with vast underemployment and by offering distance learning or night schools, there is potential for strong investment returns in for-profit education. As an example, one can look at the success of Curro in South Africa, which began as a private for profit primary and secondary schools but now even has a post-secondary offering. If a Nigerian model were created that focused on skills development, the potential returns could be very lucrative.</p>
<p>Nigeria is in the fortunate position to offer investment opportunities to both local and international persons and companies. The need to develop the Nigerian economy offers lucrative potential returns for those looking to invest in the above sectors, including manufacturing and private education. These areas are in some ways interconnected, and by increasing the investment and development in one area, there is tremendous potential for spillover into the other sectors.</p>
<p><img loading="lazy" decoding="async" class="alignnone size-full wp-image-291417" src="http://cnbc.africa/wp-content/uploads/2017/11/sb.png" alt="" width="1030" height="87" /></p>


Nigeria’s hottest investment opportunities

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<p>Dubbed the Paradise Papers, a leak contains 13.4 million documents; mostly from one leading firm in offshore finance about how some of the world’s elite have been hiding money in offshore tax havens.</p>


Why SA’s rich are hiding their money

<p><em>By: Standard Bank</em></p>
<p>Sela  Kasepa attended her first semester at Harvard University in August last year. Just months prior, the 21-year-old was mulling over her education, uncertain of her future plans. That changed after watching a CNN insert featuring the first Pan African Robotics competition founded by Dr. Sidy Ndao. Kasepa was captivated. That same evening she took a chance and sent a cold email to Dr. Ndao inquiring about robotics. Two days later, he responded with encouragement to pursue robotics. Sela found inspiration from the Pan African Robotics founder and her interaction with him made her believe that she too could create with her hands. This encounter set a trail for her journey as a robotics mentor.</p>
<div id="attachment_289521" style="width: 650px" class="wp-caption aligncenter"><img loading="lazy" decoding="async" aria-describedby="caption-attachment-289521" class="wp-image-289521 size-full" src="http://cnbc.africa/wp-content/uploads/2017/11/robotics_team_in_dc_ZISD.jpg" alt="" width="640" height="482" /><p id="caption-attachment-289521" class="wp-caption-text"><em>Zambia Institute of Sustainable Development: Standard Bank</em></p></div>
<p>Kasepa never imagined one day she would take a mechanics class, let alone at the prestigious Harvard University. Kasepa completed her schooling with funding from the Zambia Institute of Sustainable Development (ZISD), acing her GCSEs with 10 distinctions in 10 subjects. She had excellent grades and big dreams, but two years after graduating grade twelve she had little else to show for it. Her passion for astrophysics fueled her ambition to study at a university that encouraged holistic learning &#8211; she took her first SAT tests on her own and thereafter sent applications to Ivy League Universities in the United States. Her first attempts were futile, with no scholarship offers.</p>
<p>During those difficult years of uncertainty, Peter Lungu, Executive Director of ZISD, reached out to Kasepa because of her interest in the SAT programme the non-profit institution offers. The small action pivoted into a mentorship relationship, with Lungu urging Kasepa to continue applying to her desired universities. After redoing her SATs with her mentor’s guidance, she attained a perfect score in Physics (800) and a 790 in Maths Level II.</p>
<p>On the final day of call for applications, Kasepa submitted her application to Harvard. Along with Stanford, MIT, Michigan State University, and University of California Berkeley, she was successful, with each admission offering scholarships.</p>
<p>Two semesters in, Kasepa signed up for an engineering robotics class. The joy of creating something that works rekindled her love for the functionality of machines. “It’s a time when you realize your hands are capable of doing so much,” she says.</p>
<p>A lunch chat with a Rwandese friend turned to development talk. She was fascinated by how Rwanda, a country with few natural resources, was making groundbreaking progress far ahead of her own country. Her friend’s comment that a country&#8217;s’ top resource is its people, struck a chord. “If we the people don’t take the reins to develop our country, no matter our resources, we cannot develop,” she says.</p>
<p>In the coming days, Kasepa spent hours online looking for a competition her country could participate in, until she eventually came across FIRST Global Robotics competition. Another cold email later, the organizers advised her to enlist Zambia. Even though she was above the age restriction to participate in the competition, she had the opportunity to mentor a Zambian team – if she could build one last minute. She picked up her phone to call Lungu to ask him to help prep a team to participate in the FIRST competition.</p>
<p>Lungu never expected to co-mentor a robotics team. He had never been versed in engineering or robotics. His role at ZISD was a vocational call after a long lucrative career as an auditor. When he was awakened in the middle of the night by Sela with news that Zambia could participate in the FIRST Global Robotics if they got a team together, he did not hesitate. While he already had access to the country’s most brilliant students, none of them had any knowledge of robotics before. The 2017 robotics challenge was about water. This required tools, equipment, preparation, and travel for the competition. This meant funds for the team.</p>
<p>Sela sent even more cold emails in search for sponsorship, much in vain. At a coffee with her professor Evelyn Hu, she made mention of her struggle, and was amazed when a few days later Hu connected her to sponsors for three of the team members plus a mentor. After rallying with the local team in Zambia, Peter Lungu liaised with Ethiopian airlines for a sharply discounted airfare so all seven members of the Zambia Robotics team could be present for the competition.</p>
<p>Sela says shifting from mentee to mentor gave her a moment&#8217;s pause. “It was scary on my part. This is something new. (You’re) mentoring people in a new area, I was nervous about that. I’m grateful to Mr. Lungu who helped me co-mentor the team.”</p>
<p>Unable to miss her classes, Kasepa watched the competition for her computer. She entrusted team captain Mwengwe Mpekansambo to take charge even after their machine broke down during trials. Working all night, the former head girl at Fatima Girls encouraged her six teammates to fix the problem. Makasa Mwamba, Mphande Phiri, Chewe Malupenga, Clivert Mande, Jireh Katebe, Ephraim Mulilo, Meek Simbule, Njavwa Kabandama, and Mary Ngoma all went from no knowledge on robotics to hands-on leading Zambia on her maiden competition to attain 32<sup>nd</sup> position out of 163, applying their various capacities from the makeshift robotics shop at ZISD center.</p>
<p>https://soundcloud.com/africacom/captaining-zambias-first-robotics-team#t=2:22</p>
<p><em>INTERVIEW WITH TEAM CAPTAIN </em>MWENGWE<em> MPEKANSAMBO</em></p>
<p>On the competition, Kasepa says: “For me, this is not just about competing. I want the idea to spread. Robotics is not just about building a robot; it is realizing we can do something with our hands.”</p>
<p>The world of robotics opened Sela’s mind to a world of possibilities. The global robotics competition in Mexico 2018 is in her sights and she wants to take the reins on the upcoming Zambian robotics team. Her goal for the team is to instill in them a sense of ownership and responsibility. She wants their endeavors to move beyond seeking sponsorship for competitions to being a self-sustainable team propelling innovation in the Southern African country. Her hopes are for mini-robotics competitions to spring around Zambia so that new talent can have a platform as well.</p>
<p>Sela Kasepa admits the journey has not been without its trials for her.  She has since been proactive in a competitive learning environment full of new challenges and rigorous study. Kasepa aspires to become an aerospace engineer, influenced by ZISD Founder Chiluwata Lungu, an aerospace engineer himself. When she worried about employment possibilities in Zambia if she chose to delve in the complex course, he opened her eyes to the multifaceted nature of engineering and the practicality of combustion and propulsion in different sectors of STEM.</p>
<p>The path she’s worked so hard to attain comes with its sacrifices. Intensive study, time zone difference, and her extracurricular activity such as being part of the Harvard robotics club, have made it difficult for Sela to always stay in touch with friends and family. During semester break, she only spent about six days at home in Kitwe and the rest of the four weeks working alongside her ZISD family in Lusaka to organize a robotics showcase for Zambian children.</p>
<p>Back at Harvard, the learning experience has exceeded her expectations and she admits she will need to attain work-life balance to maintain a social life.</p>
<p>“My classmates (at Harvard) are now my friends. The courses can be tough and when we work together to solve complex problems, a bond of friendship is formed… The open door policy at Harvard is also amazing. I can walk into any professor’s office and ask about their course. The professors are very passionate here.”</p>
<p>On what kept her going when she was ready to give up during her years out of school, she quotes a quote she saw on a friend’s social media. She lives by it. “Do not let reality change your dreams, change your reality with your dreams.”</p>


Powering Zambia’s First Robotics Team

<p>Barclays Africa and Standard Bank said on Monday they would stop working with McKinsey, a further blow to the global consultancy as it faces allegations of bribery for work done with friends of South African President Jacob Zuma.</p>
<div id="attachment_284103" style="width: 1034px" class="wp-caption aligncenter"><img loading="lazy" decoding="async" aria-describedby="caption-attachment-284103" class="wp-image-284103 size-full" src="http://cnbc.africa/wp-content/uploads/2017/09/McKinsey_Flickr.jpg" alt="" width="1024" height="768" /><p id="caption-attachment-284103" class="wp-caption-text"><em>McKinsey faces allegations of bribery for work done with friends of South African President Jacob Zuma.</em></p></div>
<p data-reactid="43">Privately-held McKinsey, the world’s largest management consultancy, has denied doing anything illegal but said this month that it was embarrassed by mistakes it made while working with South African state utility Eskom last year.</p>
<p>McKinsey said it regretted working on a 1.6 billion rand ($113 million) contract at Eskom alongside a company controlled by the Gupta family, wealthy friends of President Zuma who are accused of unduly influencing government contracts.</p>
<p data-reactid="46">Zuma and the Guptas deny wrongdoing.</p>
<p data-reactid="47">Barclays Africa and Standard Bank told Reuters in separate emailed responses to questions that they would terminate their relationships with McKinsey without giving reasons.</p>
<p data-reactid="48">McKinsey declined to comment.</p>
<p data-reactid="49">The Gupta brothers, who work with Zuma’s son, Duduzane, were accused by South Africa’s anti-corruption watchdog last year of using control over state agencies to siphon public funds.</p>
<p data-reactid="50">South Africa’s parliamentary committee on public enterprises is investigating whether McKinsey knowingly let funds from Eskom be diverted to Gupta-controlled firm, Trillian, as a way of securing the deal.</p>
<p data-reactid="51">Corruption Watch, a South African anti-graft NGO, is preparing a submission to the U.S. Department of Justice asking it to investigate McKinsey’s dealings with Trillian.</p>
<p>($1 = 14.0950 rand)</p>
<div class="Attribution_attribution_o4ojT" data-reactid="52">
<p class="Attribution_content_27_rw" data-reactid="53">Reporting by TJ Strydom; Writing by Joe Brock; Editing by Louise Heavens</p>
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Two banks drop McKinsey in fallout from South Africa scandal

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<p>It&#8217;s very important to plan for your life, both while you still alive and when you die. A lot of people tend to confuse life insurance and funeral plans. While the two are related they have important differences which could cost you dearly.</p>


Understanding the difference between life insurance and funeral plans

<p><em>This article was supplied to CNBC Africa by Standard Bank</em></p>
<p>&nbsp;</p>
<p>You’ve likely heard of business “going green.” From installing solar panels on rooftops, utilising recycling bins, and switching off lights after hours, there are a number of ways both employers and employees can adjust their behaviour to operate in an environmentally responsible way.</p>
<p>But that’s just one part of building a sustainable business. Along with environmental well-being, it’s also about social impact and economic viability. This could include skills training for employees, and improving the quality of life in the communities in which you operate in.</p>
<p><strong>Sustainability at What Cost?</strong></p>
<p>There’s often a misconception that sustainability initiatives are expensive and will erode profits. On the contrary, it has shown to be beneficial for business owners from the bottom-line up.</p>
<p>Using the example of Egyptian agri-business SEKEM, that used biodynamic agricultural methods to start Egypt’s first organic farm in the middle of the desert forty years ago, a Harvard Business Review article titled ‘Making Sustainability Profitable’ offers three approaches for companies to ensure their environmental efforts pay off financially:</p>
<ul>
<li>Many, like Sekem, took a long-term view, investing in initially more-expensive methods of sustainable operation that eventually led to dramatically lower costs and higher yields.</li>
<li>Others have taken a ‘bootstrap’ approach to conservation: they started with small changes to their processes that generated substantial cost savings, which they then used to fund advanced technologies that made production even more efficient.</li>
<li>Some have spread their sustainability efforts to the operations of their customers and suppliers, in the process devising new business models that competitors find hard to emulate.</li>
</ul>
<p>You don’t need to incur high costs upfront, but rather adopt a model that works with your available resources, and adapt it to your sector.</p>
<p>That’s exactly what AccorHotels set out to do when they launched their internal sustainability management system, dubbed Charter 21, which recommends over 60 actions hotels can take to reduce their environmental footprint.</p>
<p>The French hotel chain group that operates in over a dozen African countries, commissioned two independent studies to assess the financial return on a number of their sustainability initiatives. The first study focused on the corporate social responsibility expectations of the hotels’ B-to- B customers, while the second provided a statistical analysis of the influence of several sustainable development indicators on profitability and guest satisfaction. Both revealed that the more a hotel invests in initiatives that reduce their environmental footprint, the more positive its paybacks are, both in terms of (1) reducing costs of water and energy for example, and (2) Increasing revenues partly due to enhanced reputation and guest satisfaction.</p>
<p><strong>Other key takeaways:</strong></p>
<ul>
<li>Sustainability should not be viewed as a cost to the business.</li>
<li>Highly visible sustainability initiatives can be a very effective way to differentiate a company in the minds of customers and strengthen customer relationships.</li>
<li>Formal programmes that include specific, measurable objectives and a framework for managing progress towards achieving them are critical to making sustainability a core part of doing business.</li>
</ul>
<p>Another core part is getting the buy-in from staff members. One of the key actions of AccorHotels’ Charter 21 is training employees in environmentally friendly practices.</p>
<p><strong>Fostering a Culture of Sustainability</strong></p>
<p>By encouraging employees to follow sustainable practices, it could soon become a norm that has a lasting impact in the workplace and in their private homes. Think about something as simple as using energy-saving bulbs at office desk lamps, or utilising reusable glass instead of plastic cups at the water cooler. Consider the possible knock-on effect if this results in a conscious behavioural change where the employee now turns the household water geyser off when not in use, or ploughs biodegradable kitchen scraps back into the garden instead of disposing as waste.</p>
<p>It’s this way of sustainable thinking that lead a turtle conservationist at Cape Town’s Two Oceans Aquarium to start an eco-rooftop garden. Initially meant to feed the facilities’ green sea turtles, it soon evolved into a lush garden of waterwise indigenous plants and herbs that is shared among employees. Not a drop of water is wasted here, with the vegetation being nurtured by the condensation from nearby air conditioners. The sustainable rooftop garden now also functions as an oasis for employees during break time complete with recycled artwork, and a worm farm that feeds off lunch scraps which in turn becomes fertilizer that can be ploughed back into the garden.</p>
<p><img loading="lazy" decoding="async" class="aligncenter wp-image-285869 size-full" src="http://cnbc.africa/wp-content/uploads/2017/10/ACQUARIUM-VEGGIES-GARDEN-2.jpg" alt="" width="750" height="563" /></p>
<p><strong>Nurturing Community-Based (Business) Partnerships</strong></p>
<p>Sustainability relates to the future of your company and the broader community. Consider the impact of procuring goods and services from local businesses, or spreading your sustainability efforts to the behaviour of your suppliers and customers.</p>
<p>Kenya-based ICOSEED (Integrated Community Organisation for Sustainable Empowerment and Education for Development) have successfully nurtured a mutually-beneficial relationship with local farmers. Winner of the 2017 SWITCH Africa Green-SEED Awards, they buy banana stems from farmers, process it into balls of fibre, and then use them to produce (biodegradable) products such as bags and table mats. They even take it a step further by giving the by-product (slurry) back to the farmers to use for biogas or compost. ICOSEED factors in all three key tenets of sustainability in that they’ve accounted for environmental well-being by producing environmentally friendly products and promoting the use of slurry for compost and biogas digesters; social impact by providing job opportunities for stem transporters and extractors along with an alternative source of income for hundreds of farmers; and economic value.</p>
<p>The company now plans to Increase the number of farmers supplying banana stems from 400 to 9,000 by 2018, scale up the production capacity of banana fibre by buying new machinery, diversify the product range, and establish two new production sites in key banana growing areas.</p>
<p>ICOSEED has adopted a sustainability model that works with their available resources. They’re now able to reap the rewards by funding the advanced technologies that will increase their production efficiency, while also spreading their sustainability efforts to the operations of their suppliers. They encapsulate the ideal of a sustainable business, where environmental well-being, social impact and economic viability are obtained, demonstrating that sustainability indeed does make good business sense.</p>


Why Sustainability Makes Good Business Sense

<p><strong><em>By: Standard Bank</em></strong></p>
<p>Following a carefully planned management succession process Standard Bank Group announces changes to its current joint-group chief executive structure. The board is satisfied that the structure, which was necessary in 2013, has met and in many respects exceeded expectations. Accordingly, Ben Kruger steps down from the role of joint-group chief executive with immediate effect. He remains an executive director of the company, reporting to the group chief executive.</p>
<p>Sim Tshabalala continues in the role of group chief executive of Standard Bank Group and chief executive of The Standard Bank of South Africa Limited.</p>
<p>“The board expresses appreciation to both Ben and Sim, who have successfully led the process of refreshing the group’s strategy and managed complex challenges which faced the group in several jurisdictions, while delivering respectable returns to our shareholders. The resounding success of the joint-group chief executive structure is testament to the group’s culture and values which include working in teams, respecting each other and upholding the highest levels of integrity. Good momentum has been achieved in the implementation of the group’s refreshed strategy,” said Group Chairman Thulani Gcabashe.</p>
<p>The board appreciates Ben’s selfless leadership and is pleased that he remains part of the leadership team going forward.</p>
<p>Ben’s new role will include: Contributing to the governance of the group as a member of the group board; contributing to the leadership, management and governance of Africa Regions; guiding the continued digitisation of the group; deepening and broadening the group’s relationship with its strategic partner ICBC; helping with the management of the Group’s risks; and maintaining and building key client relationships.</p>


Standard Bank CEO Ben Kruger to step down

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<p>Has the election of Donald Trump as United States president and his decision to withdraw the US from the Paris Agreement on climate change created an opportunity for BRICS to lead a more nuanced and balanced geo-political conversation.</p>


BRICS opportunity for global leadership

<p data-reactid="35">A South African court denied on Friday an application by former finance minister Pravin Gordhan for an order that would block the ministry from any involvement in a dispute between banks and the Gupta family, businessmen accused of influence peddling.</p>
<p data-reactid="36">Standard Bank, Nedbank, FirstRand and Barclays Africa last year closed the bank accounts of companies controlled by the Gupta family following accusations they had undue influence over President Jacob Zuma and the issuing of government contracts.</p>
<p data-reactid="37">Gupta-owned companies asked Gordhan, an outspoken critic of Zuma and the Gupta family, to intervene and force the banks to reopen their accounts, prompting him to ask the High Court to declare it was outside of the remit of his ministry.</p>
<p data-reactid="38">A Pretoria high court called Gordhan&#8217;s application unnecessary, local media reported.</p>
<p data-reactid="39">Zuma and the Guptas have denied any wrongdoing.</p>
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<p class="Attribution_content_27_rw" data-reactid="42">Reporting by TJ Strydom; Writing by Joe Brock; Editing by Ed Cropley</p>
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South African court denies Gordhan protection in Gupta, bank dispute

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<p>Standard Bank reported headline earnings were up 12 per cent to R12.1 billion vs the R10.8 billion in 2016. The bank says profits were helped by a rebound in commodity prices that boosted demand for loans from clients in the oil and mining industry.</p>


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