Business & Finance
Forbes Africa

Forbes Africa May 2019

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.

South Africa
ABN Publishing Pty Ltd (trading as Forbes Africa)
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₹ 168.36
₹ 1,392.47
11 Issues

In this issue

1 min.
forbes africa

Chairman: Zafar Siddiqi Founder & Publisher: Rakesh Wahi Managing Director: Roberta Naicker Executive Director: Sid Wahi Non-Executive Director: Busi Mabuza Non-Executive Director: Sam Bhembe MANAGING EDITOR Renuka Methil SUB EDITOR Unathi Shologu LAYOUT AND GRAPHIC DESIGN Lucy Nkosi PHOTOJOURNALISTS Motlabana Monnakgotla Gypseenia Lion JOURNALISTS Melitta Ngalonkulu Karen Mwendera JOURNALIST – WEST AFRICA Peace Hyde DIRECTOR, BUSINESS DEVELOPMENT AND STRATEGY Kudzai Kanyangarara PRODUCTION AND DISTRIBUTION Sikona Cibini BUSINESS DEVELOPMENT MANAGER – WEST AFRICA Patrick Omitoki ABN MANAGEMENT TEAM Group Head of West Africa: Frederic Van de vyver Head of Programming, CNBC Africa: Chris Bishop Group Head of ABN Productions: Alexander Leibner Group Head of Technical Operations: Jean Landsberg Head of East Africa: Denham Pons Head of Finance: Thameshan Sooriah FORBES USA Editor-in-Chief: Steve Forbes Chief Content Officer: Randall Lane Art & Design: Robert Mansfield Editorial Director, International Editions: Katya Soldak FORBES MEDIA President & CEO: Michael Federie Senior Advisor, International: Tom Wolf…

3 min.
make africa work for everyone

IVANKA TRUMP was in Ethiopia last month. It’s a country I have enjoyed traveling to and walking around in, meeting some remarkable entrepreneurs. Now, with a reformist prime minister who has instituted a cabinet that is half female, and the country’s first female president, Ethiopia has been receiving a fair share of headlines. Ivanka, President Donald Trump’s elder daughter, who serves as his adviser, was here to promote women’s participation in the workforce as part of her government’s initiative. I met her for a few brief minutes once, as did a few others, at the Forbes Women’s Summit in New York in 2015, by the glittering waters of the Hudson. One of the measurements of success, American self-made billionaire Sara Blakely told me during my one-on-one interview with her at the event,…

4 min.
educate, re-engineer and lead through uncertainty

ONE OF THE GREATEST challenges we face today is uncertainty; a simple word that has often been used naively to describe apprehension. It is, however, one of the most complex words of our times and is anything but simple. Physics, mathematics and applied mechanics were my passion since 1973. Archimedes, Einstein and Newton, among others, made the world a better place; add to that, a topping of economics and finance from Samuelson and Damodaran and management from Drucker, and I thought I had life and business covered. Until a decade ago, we were able to use predictive models of the past and apply them with reasonable surety, within some standard deviation models, for the future. We applied some risk factors and gave ourselves a pat on the back when we had…

6 min.
brief 360

FIRST AFRICAN TECH STARTUP TO LIST ON NY STOCK EXCHANGE Jumia Technologies, a pan-African technology company, last month listed on the New York Stock Exchange (NYSE), becoming the first-ever technology company from Africa to list on the world’s largest stock exchange. The largest e-commerce operator in Africa started its first day of trading with an opening price of $14.50 but the stock traded at the close of the day at $25.46 per share, CNN reported. The so-called “Africa’s Amazon” has four million customers on a continent where just 1% of retail sales are via online. Jumia was founded in Lagos, Nigeria, by two French entrepreneurs in 2012 and now offers services to most of the African population, in countries such as South Africa, Tanzania, Egypt and Ivory Coast. Jumia Nigeria CEO Juliet Anammah, was present…

13 min.
the comeback billionaire’s for {mu} la for success

THE INSIDE OF Abdulsamad Rabiu’s office, on the corner of Churchgate Street, in Victoria Island’s commercial district in the heart of Lagos that is notorious for chaotic, rambunctious traffic, is marked by a serious lack of clutter. The expansive room is tastefully decorated in cream and black hues. Rabiu’s desk is organized in a manner that seems as though everything is exactly where it should be; completely spotless and devoid of any distractions that will hinder the 58-year-old founder of BUA Group from managing his vast empire, a conglomerate spread across southern and northern Nigeria. A firm believer in strategy, the cement and sugar tycoon boosted his fortunes by a whopping $650 million this year when he merged Kalambaina Cement, a subsidiary company of his BUA Cement, with the publicly traded Cement…

1 min.
poll position

MAY 8, A LANDMARK day for Africa’s second biggest economy. South Africans will cast their votes for the country’s sixth general elections since the dawn of democracy 25 years ago. In the run-up to the polls, the country saw flagrant protests in some parts, as disgruntled citizens expressed disapproval of their stifling living conditions. In this image, a resident of Alexandra, a township in the north of Johannesburg, lies in protest in the middle of a busy road leading to the opulent precincts of Sandton, Africa’s richest square mile. The dichotomy of socio-economic circumstances is an accelerant to discord in one of the country’s poorest communities filled to the brim with squatter camps and the restlessness of unemployment.…