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Forbes Africa

Forbes Africa October 2020

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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)
6 Issues

in this issue

3 min.
from new lows to some highs

IT’S A PICTURE THAT’S HARD TO PAINT OR describe, even in a million words. Last week, for the first time, after a self-imposed six-month hibernation, I had a chance to be out of the house, for a trip to the pharmacy. While there, a scrawny woman, in her early 30s, a child strapped on to her bony back, was begging passers-by for food and medicine. Against the towering slabs of steel in the background in Sandton – famously called Africa’s richest square mile – this picture of searing, grating poverty tore through my heart, not because I have not seen this contrasting imagery before, but because of the times we are in, when even compassion needs to wear a mask. The economic morbidity is all-pervasive, across income groups, and which the…

6 min.
our ninth anniversary and the most important attributes needed today

AS WE ALL PERSEVERE AND SEEK OUR OWN ‘ULTIMA Thule’ through this very difficult time, we need to sit back and celebrate the small wins that help lift our morale. For FORBES AFRICA, this is our ninth anniversary issue and I am overwhelmed as we go to press. We had a vision to showcase stories of entrepreneurship on the African continent; what could have been a better way to personalize these stories than to launch the world’s most inspirational brand (FORBES) in Africa. A brand synonymous with stories of inspiration; a brand that every business person and entrepreneur wants to be associated with. Not only has FORBES AFRICA earned its place as a leading magazine in sub-Saharan Africa, but has over the last nine years, curated some exciting themes (Under…

7 min.
tanzania is ahead of schedule

“I congratulate all my compatriots on this historic achievement. We had envisaged to achieve this status by 2025 but with strong determination, this has been possible in 2020. God bless Tanzania.” Since 2015, the Tanzanian Fifth Phase Government, under reform-minded President Dr John Pombe Magufuli, has set an ambitious industrialisation agenda in pursuit of the goals articulated in its National Development Vision 2025. To achieve that, and in addition to focusing on industrial products, President Magufuli has emphasised the need for attracting foreign investments into the country to drive economic development while implementing the Vision 2025 to become a middle-income nation. Despite the COVID-19 pandemic, Tanzania has achieved its middle-income vision five years ahead of schedule. Tanzania achieved the status, with a GNI per capita of US$1,080 up from an average of…

1 min.
the true ceiling-crasher

IN MAY 2019, SARAY KHUMALO BECAME the first black African woman to summit Mount Everest. In a recent interview with FORBES AFRICA, Khumalo spoke about her humbling experience getting to the top. “The higher you go, the more appreciative you become about where we live, and the oxygen and a lot of stuff that we take forgranted... It was very emotional... Also because it was my fourth attempt, you know, all the people that said I couldn’t do it; nobody like me had done it, how wrong they were at the top,” Khumalo says. The South African adventurer has also just been part of the launch of a Malaria No More emergency response campaign called The Bigger Picture Campaign alongside marathon runner Eliud Kipchoge and World Cup winning South African rugby…

1 min.
standing taller

Following the release of his new album Twice as Tall, Nigeria’s Grammy-nominated singer and songwriter, Burna Boy, also a FORBES AFRICA 30 Under 30 list-maker in 2019, has become the first artist to officially hit over 40 million streams on media streaming and download service Boomplay. The artist grabbed the 128th spot on the Rolling Stone Top 500 Artist Chart making this his highest-ever appearance on the prestigious and most converted list. His 15-track album received over five million streams on Audiomack within an hour after its release. Twice As Tall peaked at number one on the Billboard World Album Chart during the week on September 14, a first for Nigeria.…

1 min.
“a fitbit in your skull with tiny wires”

South African-born tech billionaire, Elon Musk, gave an update on his brain-computer interface startup- Neuralink on September 8. Forbes reported that Musk, who sunk $100 million of his own capital into the venture, has stated that Neuralink would be looking to “solve important brain and spine problems”. The Neuralink’s device is a tiny computer chip that will be stitched into the brain by a “sewing-machine-like” robot on a network of superfine electrode-studded wires. In his update, Musk reiterated how humans should not shy away from advanced AI but rather learn to coexist with it. “On a species level, it’s important to figure out how we coexist with advanced AI, achieving some AI symbiosis such that the future of the world is controlled by the combined will of the people of…