EXPLOREMY LIBRARY
Business & Finance
Forbes Africa

Forbes Africa October 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.

Country:
South Africa
Language:
English
Publisher:
ABN Publishing Pty Ltd (trading as Forbes Africa)
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11 Issues

in this issue

3 min.
#endthisviolencenow

I HAVE LIVED in New Delhi and I have lived in Johannesburg, both infamous rape capitals. One of my first cover stories for a leading weekly news magazine as a young reporter in New Delhi was on ‘Rape’, the prevalence of it, the mindless statistics that accompany every news story on it, and the decimating helplessness of survivors. The research for my story led me to many of them, and the doors of advocacy groups and lawmakers. It even led me to spend a day talking to offenders in the Indian capital’s notorious prison, Tihar Jail. “If I could now, I would rape even you,” rasped one remorseless, toothless, repulsive rapist, from behind the iron bars of his cell. But the question is, how many of these offenders get convicted; how many survivors…

4 min.
eight successful years of showcasing african entrepreneurship

I ALWAYS LOOK FORWARD TO anniversaries. Coincidentally, FORBES AFRICA’s eighth birthday coincides with my 60th. These are a reflect on the time gone by. There are a lot of views about 60 being the new 40 and a number of other convenient phrases to state how young we feel, but 60 is 60 and qualifies me to be a senior citizen. One of the greatest joys for me now is to share. Proverbially, there are no new peaks to conquer but to consolidate and be happy with what I have achieved and pass on the baton to the next generation of leaders; who now need to carry the flag forward. After a failed attempt in April 2015, when we were caught in an earthquake that ripped through Nepal, one of the wishes…

6 min.
brief 360

JACK MA RETIRES FROM ALIBABA Billionaire and friend of Africa Jack Ma formally retired last month from Alibaba, the Chinese e-commerce giant he founded that helped transform the way hundreds of millions of people shop and made him one of the world’s richest men. Ma retired as executive chairman on September 10, which was his 55th birthday and also the 20th anniversary party of the company in Hangzhou, Alibaba’s headquarters. At the party, he officially handed the reins over to his successor Daniel Zhang, who has been the CEO of Alibaba since 2015. The company celebrated the occasion with 60,000 employees and a spectacular fireworks performance. In the open letter announcing his resignation last year, Ma said: “As for myself, I still have lots of dreams to pursue. Those who know me know…

5 min.
ithuba — putting the needs of the people first

A people-fist Approach “ITHUBA ASSUMED ITS MANDATE AS THE OFFICIAL OPERATOR OF THE SA NATIONAL LOTTERY WITH A SENSE OF URGENCY”– KHENSANI MABUZA, CORPORATE RELATIONS EXECUTIVE. Since ITHUBA took over the operation of the South African National Lottery, it has always upheld its promise to not only reinvigorate the National Lottery brand, but to better the lives of South Africans through equal opportunities. The increased Retailer footprint, Small Medium Enterprise (SME) development and support, addressing youth unemployment through Internship Programmes and Youth Enterprise Development, and the ongoing contribution towards socio-economic development – these are all initiatives that are centered around addressing the needs of the South African people. ITHUBA has proven to be a responsible corporate citizen who has assumed their mandate as the operator of the National Lottery with a sense…

7 min.
the rage and tears that tore a nation

AS THE CONTINENT’S second-biggest economy, South Africa attracts migrants from the rest of Africa. But mired in its own problems of unemployment and political instability, September saw a serious outbreak of attacks by South Africans on foreign nationals and foreign-owned businesses. And they have been ugly. The spark that fueled the raging fire was in Pretoria, the country’s capital, when a taxi driver was shot dead by a foreign national who was selling drugs to a youngster in the central business district (CBD). The altercation caused a riot and the taxi industry brought the CBD to a standstill, blocking intersections. It did not stop there; a week later, about 60 kilometers from the capital in Malvern, a suburb east of the Johannesburg CBD, a hijacked building caught fire, leaving three dead. As…

4 min.
lest we forget, mugabe’s legacy is zimbabwe’s ruined economy

FOR THE RECORD, HERE IS Robert Mugabe’s final Zimbabwe audit: a broken economy, a record one in eight jobless rate and 80% of the population living in abject poverty. Add to that the thousands killed for opposing his rule and the thousands, if not millions, that he forced into exile as economic refugees, it’s hard to see his legacy as anything other than an economic, social and political disaster. It becomes easy to dismiss those who mourn him. Robert Gabriel Mugabe ruled Zimbabwe for 37 years and yet it took the army and tanks to force him out of power even as the economy crumbled around him and millions faced starvation in a country that had once been touted as the breadbasket of Africa. “He soiled his own legacy by overstaying…