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Forbes Africa

Forbes Africa November 2019

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Forbes Africa is the drama critic to business in Africa. The magazine helps readers connect the dots, form patterns and see beyond the obvious, giving them a completely different perspective. In doing this, it delivers sharp, in-depth and engaging stories by looking at global and domestic issues from an African prism.

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South Africa
ABN Publishing Pty Ltd (trading as Forbes Africa)
€ 2,52(Incl. btw)
€ 20,85(Incl. btw)
6 Edities

in deze editie

3 min.
the haunting face of africa

THERE’S a story in this issue referencing child labor in the Democratic Republic of the Congo (DRC). Children under the age of seven – at least 40,000 of them according to UNICEF – beavering away in dark, dank, inhuman conditions, for up to 24 hours at a stretch, earning less than $2 a day. They mine the cobalt that goes into the electronic devices we use every day – phones and laptops made by little hands powered by punishing poverty. Sitting in our nifty newsrooms, these gut-wrenching images of Africa conflict with the daily drivel on development delivered by our leaders. Far from the cushy boardrooms of Sandton, there is a deep, dark reality elsewhere we are not often privy to; unspeakable truths that are only whispered murmurs in the hallowed…

3 min.
it is time to take decisive action

IN 2011, I FOUNDED THE ALL AFRICA BUSINESS Leaders Awards (AABLAs). From its inaugural event, I have each year highlighted that good leaders are ordinary men and women who have taken extraordinary decisions in the face of adversity to bring credit to their organizations. This is no different to leadership in any walk of life including political leadership. We attribute a lot of qualities to good leaders; these include vision, integrity, competence, commitment, setting the right example, leading from the front and many more. Looking around us, there is one quality missing in today’s context that stands out; and that’s decisive leadership. Imagine a general leading an army into battle and he then starts procrastinating before an assault. The result is no different from what we are seeing in a large…

5 min.
brief 360

DIASPORA’S ROLE IN RWANDA’S GROWTH Thousands of Rwandans living in Europe and other parts of the world filled the World Conference Center in Bonn, Germany, on October 5. Songs, loud cheers and excitement saturated the atmosphere as they waited to have conversations with Paul Kagame, the President of Rwanda. The annual event, Rwanda Day, is considered one of the major factors enabling the country to attract investors into various sectors. Efforts by the government to actively reach out to Rwandans living abroad and making them part of the change and the development of the country has increased their engagement. Urujeni Bakuramutsa, Permanent Secretary, Ministry of Foreign Affairs, shared: “Diaspora remittances stood at $98.2 million in 2010 and a year after the launch of Rwanda Day, the number increased to $166.2 million.…

1 min.
at the crossroads

OCTOBER HAS BEEN celebrated as Transport Month in South Africa since 2005. Public transport in Johannesburg is an integral and inevitable part of daily city life, moving goods, commuters and dreams. But inflation and rising petrol costs have forced most to opt for cheaper forms of transport. In this aerial image, taken of a busy intersection in the central business district of downtown Johannesburg, private cars, taxis, public buses and pedestrians try to beat the rushhour traffic on a sunny Tuesday. According to StatsSA and General Household Survey, in 2018, as many as 54 million South Africans use taxis every month, 11 million use public buses, while 6 million use the train.…

5 min.
how brexit will impact africa

HOW WILL BREXIT IMPACT Africa? From the general uncertainty and escalating protectionism in global markets, one thing is clear. No one knows. But if there’s anything the experts agree on, it’s that the United Kingdom (UK)’s departure from the European Union (EU) is likely to have the same negative effects on Africa as much as anywhere else. The UK market is not one Africa can ignore. It is the world’s fifth largest economy, trailed by India. But China, and new players to Africa like Russia, Turkey and the Gulf states, make London’s role on the continent less critical. At the same time, Africa is not a hugely significant trading partner for the UK and in 2017, represented only 2.6% of imports and exports alike. Still, there are signs that London wants these…

5 min.
debt and dismay

FROM A COUNTRY ESPOUSING ‘fiscal fitness’ a couple of years ago, Zambia’s 2020 budget showed the face of an economy under severe strain from a lack of growth drivers and growing indebtedness. It fell to Dr Bwalya Ng’andu, the country’s third finance minister in three years, to present the sad numbers: a target of 4% in gross domestic product growth is expected to halve to 2% in 2019, inflation has shot up to double digits, breaching the upper band of 8% while the kwacha is down 9% so far and the foreign debt is above $10 billion for a second year. On the plus side, the budget deficit is seen improving to 6.5% from 2018’s 7.4% as the government exercised some discipline, a lone plus in an environment of negatives, exacerbated by…