Africa is undergoing rapid digital transformation. According to the World Bank, the continent is home to four of the world’s top five fastest growing economies, and as mobile and digital technologies expand, an increasing number of people are now connecting with the tools and networks they need to help them reach their potential, to achieve financial security and advance inclusive growth.



Since embarking on a deliberate journey of financial inclusion in Africa, Mastercard’s efforts have encouraged significant development in various spheres of national economies. As a payment technology company with operations across several countries in Africa, Mastercard’s mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere, by making transactions safe, simple, smart, and accessible. Using secure data and networks, partnerships and passion, Mastercard’s innovations and solutions help individuals, financial institutions, governments, and businesses realize and harness their greatest potential.&nbsp;



<h2 class="wp-block-heading">Boosting economic empowerment in Africa</h2>



Financial inclusion is an integral pillar of Mastercard’s business strategy and part of its vision to create a world beyond cash. Currently, the company is in talks with governments across Africa to expand their digital agenda and look at ways their tools and services can support them.



<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" src="https://www.cnbcafrica.com/wp-content/uploads/2020/09/FADL8425-1-716x1024.jpg" alt="" class="wp-image-381056" width="591" height="845" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/09/FADL8425-1-716x1024.jpg 716w, https://cms.cnbcafrica.com/wp-content/uploads/2020/09/FADL8425-1-210x300.jpg 210w, https://cms.cnbcafrica.com/wp-content/uploads/2020/09/FADL8425-1-768x1098.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2020/09/FADL8425-1-1074x1536.jpg 1074w, https://cms.cnbcafrica.com/wp-content/uploads/2020/09/FADL8425-1-1432x2048.jpg 1432w, https://cms.cnbcafrica.com/wp-content/uploads/2020/09/FADL8425-1-696x995.jpg 696w, https://cms.cnbcafrica.com/wp-content/uploads/2020/09/FADL8425-1-1068x1527.jpg 1068w, https://cms.cnbcafrica.com/wp-content/uploads/2020/09/FADL8425-1-1920x2746.jpg 1920w, https://cms.cnbcafrica.com/wp-content/uploads/2020/09/FADL8425-1-600x858.jpg 600w, https://cms.cnbcafrica.com/wp-content/uploads/2020/09/FADL8425-1-scaled.jpg 1790w" sizes="auto, (max-width: 591px) 100vw, 591px" /><figcaption>Raghav Prasad: Divisional President, Sub-Saharan Africa, Mastercard.</figcaption></figure>



In essence, digitization has the unique power to drive socioeconomic growth. Statistics show that each one percent increase in usage of electronic payments produces, on average, an annual increase of $104 billion in GDP. Governments and other public and private institutions can therefore look to leverage technology by bringing entire ecosystems online – from mass transit to schools, and from global trade to local supply chains. This will ultimately improve effectiveness, whilst also saving time and costs.



In fact, Mastercard recently joined forces with Direct Pay Online (DPO), to encourage digitization and help businesses across Africa move online. Powered by Mastercard Payment Gateway Services technology, the platform enables merchants in Africa to swiftly move their businesses online and continue to trade with their customers. Currently, 55 businesses providing essential products and services such as supermarkets, restaurants, groceries, pharmaceuticals and fresh produce have already signed up to the DPO Store in Kenya, Uganda, and Zambia, showing that consumers are increasingly turning to e-commerce for their day to day transactions.



Another part of Mastercard’s strategy is to help societies transition from financial inclusion to financial security, thereby not just enabling access to the digital economy, but also providing tools and services to achieve financial security. This includes providing tailored digitization support to the microfinance sector, thus making it possible for micro-merchants to gain access to credit to grow their businesses and create jobs.



An increase in electronic payments has been found to boost national economic growth by reducing friction and increasing the pool of customers. To support this expansion, Mastercard has also partnered with mobile operators across Africa such as MTN Uganda and Vodacom Tanzania to provide Virtual Card Solutions (VCN) that enable safer online purchases locally and internationally, enabling the company to bring their innovations to an entirely new segment of consumers.



<h2 class="wp-block-heading">Creating shared prosperity through digitization</h2>



Five years ago, Mastercard made a long-term commitment to drive safe and scalable financial inclusion in Africa, with the aim of bringing 500 million financially excluded individuals into the digital economy. Now that the goal has been achieved, the company is extending this to a total of one billion individuals by 2025. And it doesn’t end there – the commitment further extends by aiming to help 50 million micro and small merchants (MSMs) and 25 million women entrepreneurs connect to the digital economy.



By using advanced technologies and infrastructure, Mastercard has the ability to scale solutions that support people’s journey from poverty to prosperity. However, this cannot be achieved alone – which is why a complex ecosystem of different players and partnerships with both the private and public sectors is vital to making a sustainable impact across Africa.



Last year, Mastercard announced the signing of public-private partnerships with the International Center for Tropical Agriculture (CIAT), the United States African Development Foundation (USADF) and Rabobank to extend the reach of the Mastercard Farmers Network (MFN) to millions of&nbsp; smallholder farmers in Africa.&nbsp; Under this partnership, key partners, will provide support to further roll out the MFN platform across Uganda making transacting much safer and simpler for many more stakeholders in the agricultural value chain – the farmer, the buyer and the agent.&nbsp;



MFN is an award-winning, innovative solution that helps to connect small-scale farmers with potential buyers, integrates their businesses with payment systems, and enables them to build a digital transaction record that can be used to access formal credit from banks and other financial institutions.&nbsp; Without this technology, many smallholder farmers struggle to access the market for their goods and financial tools that would enable them to grow their businesses and improve their livelihoods.



By fostering fruitful, long-lasting partnerships, not only is Mastercard’s business expanding across Africa, but most importantly, many of the continent’s greatest challenges are also being addressed. This approach is based on the company’s fundamental standpoint of ‘doing well by doing good,’ by creating a sustainable system where everyone can reap the benefits of a financially inclusive society, including citizens, customers, governments and businesses. Any business that hopes to thrive in future has to be built on trust and integrity, and even more so when that business has a direct impact on people’s money and affects the way they live and work.



<h2 class="wp-block-heading">Empowering MSMEs, growing future skills</h2>



In Africa, MSMEs and the informal trading sector are the primary growth engines for the economy, creating approximately 80 percent of total employment. To support small business growth, Mastercard is actively promoting digital platforms and tools which supports their transition to the digital economy.



One of the platforms supporting MSMEs is Mastercard’s partnership with Unilever and Kenya Commercial Bank (KCB) to offer new lending models for micro-merchants in Kenya. The program offers a safe digital platform for enabling KCB to provide an interest-free credit line based on the micro-merchant’s purchasing history. The credit line is provided through a secure Mastercard digital payment solution, which is accessible via mobile phones and other handheld devices. This solution allows micro-merchants to buy more products, giving them access to formal credit services and therefore increasing customer traffic.



Other platforms that support this include mobile-enabled digital wallets and Masterpass, a digital payment service that allows users to load their credit and debit cards into an app and make payments using a QR code. The service is interoperable, and because a QR code is a simple, low cost tool, it puts digital payments acceptance into the hands of MSMEs.



With work founded in building pathways to financial security, Mastercard’s mission is to increase acceptance opportunities for all, as well as providing MSMEs with other value-added tools and solutions to help businesses grow, thrive and succeed.



However, more still needs to be done if Africa is to realize the full socioeconomic benefits that financial inclusion can deliver, including greater income and social equality, an expanded middle class, and better financial inclusion for all.

In this photo illustration the Mastercard logo is displayed

Mastercard Underpins its Commitment to Driving Economic Empowerment for All in Africa

MTN is adding its voice to the global drive to raise awareness about the importance of wearing masks with today’s launch of the #WearItForMe campaign across its 21 African and Middle Eastern markets.&nbsp;



To help drive this much-needed change in behaviour, MTN is committing its September 2020 marketing resources to encouraging everyone to do more to save lives. 



As our Africa and Middle East markets continue to navigate the “new normal” brought about by COVID-19, wearing masks remains one of the most effective preventative measures to slow the spread of the virus and accelerate recovery. However, many people refuse to wear them, wear them incorrectly, or still feel it is not important.



“COVID-19 has had profound health and socioeconomic impacts across the markets in which we operate. We empathise and mourn the loss of lives lost to the pandemic. With statistics revealing that infection rates are expected to reach a peak between now and September 2020 across our markets, now is not the time to be complacent,” says MTN’s incoming group president and CEO Ralph Mupita.



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="580" height="1024" src="https://www.cnbcafrica.com/wp-content/uploads/2020/08/MTN_Ralph-Mupita-1-580x1024.jpg" alt="" class="wp-image-380425" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/08/MTN_Ralph-Mupita-1-580x1024.jpg 580w, https://cms.cnbcafrica.com/wp-content/uploads/2020/08/MTN_Ralph-Mupita-1-170x300.jpg 170w, https://cms.cnbcafrica.com/wp-content/uploads/2020/08/MTN_Ralph-Mupita-1-768x1356.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2020/08/MTN_Ralph-Mupita-1-870x1536.jpg 870w, https://cms.cnbcafrica.com/wp-content/uploads/2020/08/MTN_Ralph-Mupita-1-1160x2048.jpg 1160w, https://cms.cnbcafrica.com/wp-content/uploads/2020/08/MTN_Ralph-Mupita-1-696x1229.jpg 696w, https://cms.cnbcafrica.com/wp-content/uploads/2020/08/MTN_Ralph-Mupita-1-1068x1886.jpg 1068w, https://cms.cnbcafrica.com/wp-content/uploads/2020/08/MTN_Ralph-Mupita-1-1920x3390.jpg 1920w, https://cms.cnbcafrica.com/wp-content/uploads/2020/08/MTN_Ralph-Mupita-1-600x1059.jpg 600w, https://cms.cnbcafrica.com/wp-content/uploads/2020/08/MTN_Ralph-Mupita-1-scaled.jpg 1450w" sizes="auto, (max-width: 580px) 100vw, 580px" /><figcaption>Ralph MupitaMTN ExecutiveJohannesburgSouth Africa17 February 2020Photograph: John Hogg</figcaption></figure>



“With the increasing evidence indicating that masks can prevent the spread of COVID-19, and eventually eliminate the disease if worn by 80-90% of the population, we need to do whatever we can to make a meaningful difference and flatten the curve. Wearing a mask is not only about protecting oneself, but about respecting and protecting others within our communities,” says Mupita.



#WearItForMe is the next phase in MTN’s COVID-19 response under Y’ello Hope &#8211; MTN’s umbrella initiative which provides much-needed support during times of societal need.



It is a powerful call-to-action using the voice of some of the most influential figures within our communities and across the continent; our mothers, and mother-figures. The initiative will see mothers and mother-figures sending heartfelt messages to their children, and all the children of Africa, to wear their masks and &#8220;wear it for me’’ – saving lives.



MTN’s #WearItForMe campaign will build on the work already carried out under Y’ello Hope to brighten lives and limit the impact of the pandemic. During this time, MTN has prioritised looking after its people, customers, communities and networks while focusing on efficiencies to help navigate the pandemic and its effects.



Initiatives ranged from free data lifelines and zero-rated access to educational sites. In addition, utilising technological solutions for contact tracing and dissemination of information through the Africa COVID Communication &amp; Information Platform across our 21 markets. &nbsp;&nbsp;



“Wearing a mask is, of course, not all that needs to happen to slow the spread of the virus. Sanitisation, hand-washing and social-distancing are just as important and should be done in conjunction with wearing a mask,” concludes Mupita.



#WearItForMe will run throughout the month of September. Visit <a href="http://www.wearitfor.me">www.wearitfor.me</a> to send a message to someone encouraging them to do the right thing. #WearItForMe: Because when we all wear masks, we protect each other.

MTN_Ralph Mupita

MTN promotes wearing a mask in new campaign

Research has shown that Gauteng manufacturing has declined considerably since 1994. Additional research carried by the Gauteng Growth and Development Agency (GGDA) clearly indicates that without any intervention, the sector will likely face the most job losses. It also needs to consider the massive economic contraction expected from COVID19.



The manufacturing sector is critical to economic growth. As a whole, it accounts for 13% of national GDP and in the Gauteng province, manufacturing is the fourth largest sector. It produces 14.5% of the formal sector GDP and accounts for 45% of the total manufacturing in South Africa.&nbsp; From an export perspective, Gauteng exports 55% of South Africa’s total exports, and for every R100 of exports out of Gauteng, R80 comes from the manufacturing sector. Additionally, for every R100 of goods imported into Gauteng, R63 accounts for goods going to the manufacturing sector.&nbsp;



Manufacturing is also a key driver to global trade, according to the World Trade Organisation (WTO). 80% of global trade is derived from merchandise trade or trade of goods produced in the manufacturing sector. Since 2014, 6 out of 10 Foreign Direct Investment (FDI) projects into Gauteng have been in the manufacturing sector and its subsectors.



It is clear that a decline in the manufacturing sector has very serious effects on the Gauteng and South African economy.&nbsp; Since 1970, local manufacturing has dropped as much as 10 percentage points in contribution to GDP. The decline in Gauteng’s manufacturing output has also impacted the sector’s ability to absorb jobs. In 1994 the sector employed approximately 600 000 people in Gauteng, translating to 17.4% of all people employed in Gauteng. However, by 2019, that dropped to 10.4% of people employed in Gauteng.



It is clear that Gauteng and the broader South African economy needs serious interventions for revival. Research shows that long-term sustained economic growth has never been achieved in the absence of a strong manufacturing sector.



With this in mind, the Department of Economic Development together with its implementation agency, the GGDA, have keenly focused on resuscitating this sector as a key driver for economic growth into this next normal. Priorities include economic growth, job creation and infrastructure investment which is supported by the province’s 2030 vision of “Growing Gauteng Together”.



The GGDA’s Group Chief Executive Officer, Mosa Tshabalala, is very clear on what the agency’s role is.&nbsp; In a recent live panel discussion with CNBC Africa, she confirmed that the GGDA actively enables a more conducive ecosystem to facilitate business growth, expansion and investment, whilst also promoting the ease of doing business within Gauteng.



For a revitalisation of the sector, the GGDA is cognisant of the importance of working with other government organisations to create beneficial ecosystems – one where skills development, lending and business support come together to build growth. To this end, the GGDA is fast-tracking the implementation of Special Economic Zone’s (SEZ) across the province to support manufacturers, providing them with the necessary infrastructure, policy advocacy and opportunities. The provincial government identifies Special Economic Zones (SEZs) as strategic apex programmes for accelerating and stimulating inclusive economic growth in the Gauteng City Region. To this end, through the GGDA, the expansion of the OR Tambo International Airport (ORTIA) SEZ (Ekurhuleni), establishment of the High Tech SEZ (Tshwane), the Vaal SEZ (Sedibeng), and the Tshwane Automotive SEZ form an integral part of realizing the strategic goals as set out in the GGT2030 to spatially boost manufacturing across the province.



GGDA Priorities for Economic Growth



The GGDA has set out high-impact priorities to accelerate economic growth in Gauteng in the current, and the future, economic climates:



<ul class="wp-block-list"><li>A focus on economic development which delivers sustainable jobs, encompassing job creation and job enablement;</li><li>Skills development for SMMEs which will transform value chains within targeted sectors and ensure an emphasis on building the ‘skills of tomorrow, today’;</li><li>Creating sustainable businesses that are enterprise and supplier development driven;</li><li>Economic infrastructure development which is geared at executing capital projects which enable prioritised sectors such as Automotive, ICT, Manufacturing and Agro-Processing;</li><li>Increasing the export of locally manufactured goods by highlighting SMME export opportunities and facilitating supply/demand based development;</li><li>To not only increase investment into the province, but also enable a greater focus on retaining investment through the development and implementation of an investor aftercare strategy;</li><li>Developing a holistic approach to the enablement of the Township Economy with a greater focus on young entrepreneurs and woman-owned businesses.&nbsp;</li></ul>



We need to manufacture more products locally. Localisation is a key strategy, and its efforts need to be very intentional and focused.&nbsp; Another key focus for the GGDA is preparing the Gauteng province to become an active participant in the Africa Free Trade Agreement, as it will bring with it many substantial opportunities for economic growth.



What About Township Economies and Women-Owned Businesses?



The GGDA has taken a very strategic approach when addressing the township, youth and women in business – it is creating pipelines with large investors, then plugging in potential SMME’s to create linkages and ultimately a successful ecosystem. The GGDA also supports these businesses in scaling their offerings by linking them to the Industrial Development Corporation (IDC), and continuously advocating for their business growth.

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The GGDA’s Role in Resuscitating Manufacturing as a Key Driver of Economic Growth

Charmaine Mabuza, Group CEO of ITHUBA Holdings



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Every functional business has business continuity plans in place, ready to implement in a time of crisis. However, the truth is very few of us imagined a disruptive pandemic such as the COVID-19 virus to be a likelihood occurrence.



On 27 March 2020, a countrywide lockdown was announced in South Africa, a necessity that had to be implemented in order to save lives. But as many businesses shut their doors, the livelihood of many South Africans were at stake, some still are as businesses propel to get back to their feet.



As an employer, I can relate to the anxiety of fellow corporate and business leaders, to be uncertain of the future and worrying about the work stability of your staff and their families who depend on their income, has become a hard reality. We really do exist in an extraordinary time, which some business experts describe as the VUCA World. ‘VUCA’ is an acronym for Volatile, Uncertain, Complex and Ambiguous. How fitting is this description of today’s business world and especially the economy!



The President took bold steps in implementing measures that aim to preserve our health and safety as citizens of this country. However as employers, we have to take it a step further and safeguard the livelihood of the people we employ. We have an obligation to keep business afloat by being innovative and proactive, amid the crisis — our economy depends on it.&nbsp;



For ITHUBA, the South African National Lottery operator, innovative technology is what has kept our ship sailing. &nbsp;Looking back, I am so glad that we made a decision to move the National Lottery to a digital realm. Players can access Lottery products on the National Lottery website, the Mobile APP and through the digital platforms of our banking channel partners namely Absa, FNB, Standard bank and Nedbank. We implemented the Random Number Generator (RNG), in line with international best practice, as the procedure of selecting winning numbers, which are televised in a form of a digital draw show. &nbsp;This process has remained uninterrupted throughout the lockdown period. We saw a significant increase in on-line participation and 4 jackpot winners including the winner of R153Million PowerBall PLUS jackpot from the Friday 10 July 2020 draw. This player, who played via the Standard Bank App, became the biggest on-line winner in the history of the South African Lottery, and Africa at large.



I am not oblivious to the fact that there are many South Africans who do not have access to the relevant resources and the required digital literacy to be able to play on-line, I fully comprehend the challenges faced particularly by communities in previously disadvantaged areas. The National Lottery belongs to the people and it has always been ITHUBA’s intention to offer equal access to the National Lottery for everyone.&nbsp; To come to terms with the reality that during the lockdown restrictions, there was a group of people that could not play the Lottery, really unsettled me.



However, some of the best ideas have been born out of the most challenging times. On 30 June 2020, ITHUBA was excited to announce its partnership with 1Voucher &#8211; a card less, bank less top-up payment solution that allows customers to turn their cash into an on-line balance. This partnership is part of ITHUBA’s strategy to offer players convenient access to the National Lottery products. It enables players who do not have access to on-line banking infrastructure to top up their National Lottery wallets to purchase Lottery tickets via their mobile devices. We could not sit back and give up on our mandate because in-store ticket sales were paused. In fact, growing on-line gaming is one of the best things we can do for our economy. The global on-line Lottery market has seen significant growth and is projected to generate a revenue of $183.1 billion by 2026, growing at a healthy CAGR of 11.7% throughout the forecast period. Africa deserves a piece of this pie.



E-commerce is certainly one of the most innovative ways to keep trading. But for e-commerce to thrive, businesses must be willing to go an extra mile and address elements that hinder the growth of e-commerce platforms. Digital literacy is one of the factors affecting on-line participation. But the good thing about customers is that they are teachable, and once they understand the convenience of on-line shopping, it becomes their new norm.



One way in which ITHUBA addresses digital literacy, is by rolling out educational marketing campaigns. Once the new on-line players are on our e-commerce platforms, they are met by chatbots who assist them on a step by step basis.



The second biggest factor that affects on-line shopping is the fact that not everyone has credit cards that allow for on-line payment. It is therefore critical that we become flexible in our payment options in order to help bridge the digital divide.



I advocate for e-commerce as part of the innovation that will save us. South Africa’s on-line retail industry accounts for just 1.4% of total retail, while the United States and China is close to 20%. We have a long way to go. As leaders in our respective industries, we need to play our role in advancing e-commerce and ensuring that we catch up with the rest of the world.



A lot of industries around the globe suffered a loss as a result of the COVID-19 lockdown, with no exception to the Gaming industry world-wide. In South Africa, National Lottery sales declined by 18% during the time in-store ticket sales were paused, while countries such as China for an example, recorded a dreadful decrease of 64.5% in Lottery sales, according to the research conducted by the World Lotteries Association (WLA). This is alarming, considering their advanced technology and a generally higher e-commerce participation in that country. On our side, we recorded an increase of 11.5% in on-line participation, where new players registered and played across all National Lottery on-line platforms. This peak is not too far off from the 16% increase in European countries such France and Norway – one of the leading countries in the digitization of Lottery games globally.



I know that there had been arguments that allowing e-commerce trading during the COVID-19 regulations is unfair to smaller, informal businesses such as spaza shops and other businesses that rely on face to face trading to make sales. In my view, we are better off utilizing e-commerce than we are when we don’t. Our first priority should be saving our lapsing economy and preserving the livelihood of our employees – that is our role and mandate as business owners.



I urge my fellow business leaders to think out of the box and push the innovation boundaries. Let us not forget to integrate women and youth entrepreneurs, whose wisdom and revolution should not be taken for granted. It is our combined efforts that will help bring back to life the deteriorating economy.

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An Innovative Approach is what will save us

Dubai, United Arab Emirates / London, United Kingdom – 13 August 2020: Standard Chartered Bank and Airtel Africa have today announced a strategic collaboration to drive financial inclusion across key markets in Africa by providing customers with increased access to mobile financial services.



<a>Through the collaboration, Standard Chartered and Airtel Africa will work together to co-create new, innovative products aimed at enhancing the accessibility of financial services&nbsp;</a>and, ultimately, better serve people across Africa. In line with this, Airtel Money’s customers will be able to make real-time online deposits and withdrawals from Standard Chartered bank accounts, receive international money transfers directly to their wallets, and access savings products amongst other services.



Standard Chartered’s corporate clients will also be able to make rapid and secure bulk disbursements, such as payroll payments, directly into the Airtel Money customers wallet. This reduces the risks associated with travelling long distances for cash payments and instead customers can go to any Airtel Money agent, kiosk, or branch to cash-out their funds.



<blockquote class="wp-block-quote is-style-large td_pull_quote td_pull_center is-layout-flow wp-block-quote-is-layout-flow">“By collaborating with innovative organisations like Airtel Africa, we are accelerating our mobile and digital-led strategy to provide best in class financial services to Africa. Over the past year, Standard Chartered has rapidly launched digital banks across 9 countries on the continent, allowing our customers to enjoy seamless services from the safety of their homes even during the peak of the pandemic. This partnership will further enhance the ability of our customers to manage and move money safely and securely and create market-leading financial solutions across countries.”<cite>SUNIL KAUSHAL, REGIONAL CEO, AFRICA AND MIDDLE EAST</cite></blockquote>



The recent announcement is another step taken by Standard Chartered to further extend its reach and enhance its unique produce offering. By partnering with mobile wallet providers, the bank has expanded its network into markets where mobile wallets are prevalent, offer solutions that enable corporate and institutional clients to leverage the opportunities presented by mobile money, and enable efficient, scalable e-commerce and m-commerce solutions.



This partnership supports Airtel Africa’s efforts to expand the range and depth of its Airtel Money offerings across its 19 million customer base, with new products and services helping to promote the wider adoption of mobile money and increasing financial inclusion.



Raghunath Mandava, CEO, Airtel Africa,&nbsp;said:&nbsp;“Our relationship with Standard Chartered boosts financial inclusion across the continent, giving millions of people access to valuable banking services. We continue to invest heavily in cashing in and cashing out locations for our customers and increase our distribution. This means that&nbsp;our customers can now send or receive digital payments via Standard Chartered Bank directly to their mobile phones, as well as cash-out their funds at our exclusive kiosks and branches at their convenience. This highlights Airtel Africa’s commitment to providing affordable, innovative, best-in-class solutions to enhance the daily lives of our customers.”



Mobile banking transfers between Airtel Money and Standard Chartered Bank are now live in Kenya, Tanzania, Uganda and Zambia. Remaining products will be rolled out later this year subject to regulatory approvals.







For further information please contact:



Standard Chartered:



Monica Barten Communications, Africa &amp; Middle East Standard Chartered Bank + 971 4508 4565 / <a href="mailto:monica.barten@sc.com" target="_blank" rel="noreferrer noopener">monica.barten@sc.com</a>



Airtel Africa:



Hudson Sandler Sue Hutchinson / Bertie Berger / Rebekah Chapman <a href="tel:+44%20(0)%2020%207796%204133" target="_blank" rel="noreferrer noopener">+44 (0) 20 7796 4133</a> / <a href="mailto:airtelafrica@hudsonsandler.com" target="_blank" rel="noreferrer noopener">airtelafrica@hudsonsandler.com</a>

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Standard Chartered and Airtel Africa form a partnership to drive financial inclusion across Africa

THE COVID-19 GLOBAL pandemic has brought forward the future. It has brought about humanity’s biggest challenge in a century, to choose between life and livelihoods. In the immediate aftermath of the pandemic, banks have played a supporting role to clients and communities. Standard Chartered announced a commitment of US$1 billion globally to support companies in the health delivery supply chain to combat the COVID-19 pandemic, and an additional US$50 million to assist communities in presence markets, especially Africa.&nbsp;



Generally, banks have entered the COVID crisis much stronger and resilient than they did before the global ﬁnancial crisis of 2008. This resilience is owed in part to the raft of regulatory reforms and stronger supervision since 2008, aimed at ensuring adequate capital and liquidity buffers against market-wide stress and also to avoid future taxpayer bailouts. Bank resilience notwithstanding, there is a catch! Well, several!



<div class="wp-block-image"><figure class="aligncenter size-large"><img loading="lazy" decoding="async" width="1110" height="740" src="https://www.cnbcafrica.com/wp-content/uploads/2020/08/Kweku-new-image-sta-1110x740.jpg" alt="" class="wp-image-378144" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/08/Kweku-new-image-sta-1110x740.jpg 1110w, https://cms.cnbcafrica.com/wp-content/uploads/2020/08/Kweku-new-image-sta-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2020/08/Kweku-new-image-sta-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2020/08/Kweku-new-image-sta-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2020/08/Kweku-new-image-sta-2048x1365.jpg 2048w, https://cms.cnbcafrica.com/wp-content/uploads/2020/08/Kweku-new-image-sta-696x464.jpg 696w, https://cms.cnbcafrica.com/wp-content/uploads/2020/08/Kweku-new-image-sta-1068x712.jpg 1068w, https://cms.cnbcafrica.com/wp-content/uploads/2020/08/Kweku-new-image-sta-1920x1280.jpg 1920w, https://cms.cnbcafrica.com/wp-content/uploads/2020/08/Kweku-new-image-sta-600x400.jpg 600w" sizes="auto, (max-width: 1110px) 100vw, 1110px" /><figcaption>Kweku Bedu-Addo, CEO of Standard Chartered Bank South Africa &amp; Southern Africa </figcaption></figure></div>



Many jurisdictions have placed ﬁghting this pandemic at par with war by employing emergency measures and massive ﬁscal stimulus packages to provide relief to businesses and households and hopefully to bring the public health crisis under control. Relative to Q1 2020, total lockdown is now perceived as a blunt instrument in responding to the pandemic due to its potential for economic destruction and jeopardizing livelihoods. There is some convergence of views towards recalibrating easing of lockdown alongside placing high emphasis on both corporate and individual responsibility to obey public health recommendations and to observe good hygiene.



As the world emerges from lockdown, the nature and shape of the recovery is an important variable. Whether the recovery is a V-shape, U-shape or a W- shape makes a world of a difference to how banks will respond. We are only beginning to understand and measure the true economic cost of the pandemic, transmitted through lockdown and the deleterious effects on growth and the viability of some sectors. Many companies around the world face the grim prospect of possible collapse, necessitating tough survival decisions on rationalizations, write-downs of asset values and other corporate actions.



National governments need to determine the right balance between restarting economic activity and growth without compromising the capacity of healthcare infrastructure. The ability to do so would in turn inﬂuence the nature and shape of the recovery as well as which companies or sectors can survive the new reality, and which would fail. Then there is digitization. Digitization and the new ways of working will deﬁne who stays competitive, productive and can survive. Almost every sector or industry and even governments will need to invest in digital solutions to future-proof their survival and relevance.



While banks certainly have a critical role to play during and post crisis, the reality is there is no certainty or clarity on how events might unfold. In the meantime, a better understanding of the nature, virulence and measures to conquer the invisible enemy remains elusive, thereby drawing parallels with the expression “fog of war”.&nbsp; The unfolding challenges and after-effects of the pandemic are not sequential or in any particular order. Neither will the responses be. Responses need to be diligent, intelligent and wise in order to safeguard the future. The pre-COVID bank resilience is a necessary and comforting condition but insufficient for post-COVID recovery unless banks themselves can successfully navigate the fog of this new war to avoid joining the casualty list that is beginning to grow around the world. They will certainly be dealing with elevated credit risk, strains to capital and liquidity and heightened operational and cyber security risk, among others. Livelihoods and economic security look fragile in the short run as the pandemic exposes cracks, ﬁssures and chasms in the existing socio-economic order globally. This systemic stress could precipitate a repurposing of legacy political, economic, social and security arrangements by national governments which could be consequential to businesses recovery and viability, household incomes and social cohesion. For the banks, it becomes a waiting game!

THE FUTURE JUST ARRIVED: THE ROLE OF BANKS IN A POST-COVID WORLD

By: Mathieu Mandeng 







In the current complex and challenging circumstances that are testing the resilience of our economies and its foundations, I believe Mauritius remains in a unique position to create a partnership for shared prosperity with African countries.&nbsp; Mauritius is leveraging its unique selling proposition of being the only investment grade international financial centre “ IFC” in sub Saharan Africa to drive trade and investment in mainland Africa.



An IFC is fundamentally a response to the complexity, inefficiency and hardship of doing business in mainland by leveraging the five factors of competitiveness that are business environment, financial sector development, infrastructure, human capital and reputation. A quick health check shows that Mauritius that now ranks 13th globally in the World Bank’s Ease of Doing Business is a conducive jurisdiction that upholds the rule of law with the UK Privy Council as the ultimate court of appeal. Mauritius has a high transparency index, the 3rd in Africa and ranks number one in the Mo Ibrahim Index of good governance. The Financial Services sector is well developed and highly regulated while allowing free flow of capital; total bank assets as a percentage of GDP is more than 300% and banking penetration rate is 90%. The infrastructure that includes digital, transport and energy is world class and keeps developing with the recent construction of the light metro. Human capital is highly skilled and bilingual, able to serve both anglophone and francophone Africa. The country is therefore playing on its key strengths as a centre of excellence, leveraging its solid regulatory and legal framework as well as its reputation&nbsp; to provide a unified platform to direct investments into key projects that can relaunch the Continent’s fragilized economies.



<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" src="https://www.cnbcafrica.com/wp-content/uploads/2020/08/Mathieu-Mandeng-1-683x1024.jpg" alt="" class="wp-image-377998" width="192" height="288" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/08/Mathieu-Mandeng-1-683x1024.jpg 683w, https://cms.cnbcafrica.com/wp-content/uploads/2020/08/Mathieu-Mandeng-1-200x300.jpg 200w, https://cms.cnbcafrica.com/wp-content/uploads/2020/08/Mathieu-Mandeng-1-768x1151.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2020/08/Mathieu-Mandeng-1-1025x1536.jpg 1025w, https://cms.cnbcafrica.com/wp-content/uploads/2020/08/Mathieu-Mandeng-1-1367x2048.jpg 1367w, https://cms.cnbcafrica.com/wp-content/uploads/2020/08/Mathieu-Mandeng-1-696x1043.jpg 696w, https://cms.cnbcafrica.com/wp-content/uploads/2020/08/Mathieu-Mandeng-1-1068x1600.jpg 1068w, https://cms.cnbcafrica.com/wp-content/uploads/2020/08/Mathieu-Mandeng-1-1920x2877.jpg 1920w, https://cms.cnbcafrica.com/wp-content/uploads/2020/08/Mathieu-Mandeng-1-600x899.jpg 600w, https://cms.cnbcafrica.com/wp-content/uploads/2020/08/Mathieu-Mandeng-1-scaled.jpg 1708w" sizes="auto, (max-width: 192px) 100vw, 192px" /><figcaption>Mathieu Mandeng is the Chief Executive Officer (CEO) of Standard Chartered Bank Mauritius Ltd</figcaption></figure>



The country developed itself by creating markets outside of its insularity,&nbsp; diversifying its economic model from a monocrop economy, the sugar industry, back in 1968 with a GDP per capita of around USD 200 to a high-income country with a GNI per capita of USD 12,740 in 2019 for a threshold of USD 12,535, according to the World Bank report released on July 1st, 2020. The industrialization process in the 70s and 80s &nbsp;and the rapid growth of the hospitality industry in the 80s and 90s, the development of financial services in the 90s and ICT and professional services more recently, have all contributed to its success. Today the sugar industry only represents 2% of the GDP compared to financial services, that is nearing 13% of GDP, aiming at doubling its contribution within the next ten years.



The Mauritian global business sector has been a key contributor to Foreign Direct Investment (FDI) flows in India over the past fifteen years backed by solid&nbsp; bilateral relationship and investment agreements. India received more than USD 300 billion in terms of FDI, a third of which went through Mauritius, contributing directly and indirectly to India&#8217;s economic and industrial development. With financial flows come also the invisible flows such as expertise, technology, know-how, training, etc. The renegotiation of the bilateral agreements a few years back offered Mauritius the opportunity to reinvent its model that was too heavily reliant on India. The country is now looking towards mainland Africa to migrate best practice, building on its experience to channel funds, skills and expertise. With a high literacy rate and a number of talents that are bilingual, Mauritius can export its human resources to contribute to the development of sectors such as financial services on the Continent. Tourism and Sugar are the other mature industries that have generated a number of talents with the depth and expertise that can help these sectors develop in Africa.



A concrete example to illustrate how Mauritius is driving this agenda, is the creation of the Mauritius Africa Fund in 2014 worth Rs 500 million (USD13m), to develop “Special Economic Zones&#8221;, with pioneering countries that include Ivory Coast, Senegal, Ghana and Madagascar. In doing so, Mauritius is&nbsp; asserting its ability to manage the risks associated with issues related to lack of good governance, conducive business environment, poor infrastructure and lack of regional integration that are key challenges when investing into the Continent.&nbsp; Mauritius is taking advantage of its share of development in Africa, where the growth is driven by the three &#8220;Cs&#8221; that are &#8220;commodities&#8221;, &#8220;consumption&#8221; and &#8220;corridors&#8221;. And the latter is a powerful lever as we are describing here the emerging corridors, that are facilitating trade and investment coming from Asia, Turkey and Brazil. As for the first corridor, Mauritius, through its agreements with India, in the case of the Comprehensive Economic Cooperation and Partnership Agreement (CECPA), and China, with the FTA (Free Trade Agreement), but also the Africa Continental Free Trade Area (AfCFTA) has a fundamental role to play in facilitating trade and investment between Asia and Africa, and within&nbsp; Africa. These avenues of collaboration and growth can help both Mauritius and mainland Africa navigate the aftermath of this pandemic resiliently.



With its unique selling proposition of being the only global bank bullish on the African with a presence of more than 18 years in Mauritius, Standard Chartered is leveraging its unique coverage of the Continent and its global products suit to deliver high value-added solutions to network clients. The case in point is the Regional Treasury Centre (RTC) value proposition that provides solutions for liquidity management, procurement and shared service centres to clients managing their regional operations out of their regional office in Mauritius.&nbsp;



As Africa embarks on its own industrialization journey to create value derived from the abundance of minerals and other resources, it would be beneficial for the Continent to engage in diversifying its economies. The current crisis offers an opportunity to accelerate this key agenda for its sustainable development. Mauritius can play a strategic and catalytic role in this process by creating the right conditions for investors to access the opportunities that arise. While the unprecedent COVID-19 crisis has heavily disturbed the global value chains and presents real challenges to African nations that need to balance the act of preserving the health of populations and relaunching their economic development, this is the right opportunity for them to cast away the overdependence on commodities’ exportations and overreliance on imported manufactured products by diversifying their economies. And Mauritius is uniquely placed to develop win-win solutions in a partnership for shared prosperity with mainland Africa by leveraging its experience and key differentiating capabilities.

Op-Ed: Tourism sector in Mauritius devastated by COVID-19

Mauritius-Africa, a partnership for shared prosperity

The City of eThekwini pulled out all stops to give fans of the annual Vodacom Durban July (VDJ). The Virtual Vodacom Durban July (VDJ) Experience indeed delivered to its expectations of promoting the City’s travel in order to boost tourism as from 24 July people were reminded how it felt like to be in to be in Durban.



This was witnessed by #VDJ2020 which trended as number one in the social networks on the day of the Africa’s biggest horse race, 25 July and throughout the weekend which means the event was the most talked about.



The highlight of the #VDJ 2020 experience included a breakthrough for two iconic township restaurants namely Eyadini and Max’s Lifestyles in Umlazi who received betting license for the first time in the VDJ history.



<figure class="wp-block-image alignfull size-large"><img loading="lazy" decoding="async" width="1110" height="740" src="https://www.cnbcafrica.com/wp-content/uploads/2020/07/July-Fashion-Promenade-1110x740.jpg" alt="" class="wp-image-377539" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/07/July-Fashion-Promenade-1110x740.jpg 1110w, https://cms.cnbcafrica.com/wp-content/uploads/2020/07/July-Fashion-Promenade-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2020/07/July-Fashion-Promenade-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2020/07/July-Fashion-Promenade-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2020/07/July-Fashion-Promenade-696x464.jpg 696w, https://cms.cnbcafrica.com/wp-content/uploads/2020/07/July-Fashion-Promenade-1068x712.jpg 1068w, https://cms.cnbcafrica.com/wp-content/uploads/2020/07/July-Fashion-Promenade-1920x1280.jpg 1920w, https://cms.cnbcafrica.com/wp-content/uploads/2020/07/July-Fashion-Promenade-600x400.jpg 600w, https://cms.cnbcafrica.com/wp-content/uploads/2020/07/July-Fashion-Promenade.jpg 2048w" sizes="auto, (max-width: 1110px) 100vw, 1110px" /></figure>



Commenting on these major news, Max’s Lifestyle’s Marketing Manager, Zinhle Mqadi, said “To host punters for betting in their venue was a dream come true. This was truly a breakthrough for our establishment as we had always wished to have a license to allow for their patrons to place bets during the July.”



She further added that this is a good sign and adds value to the growth of their place and they will make sure that is betting opportunity occurs annually.



The Virtual Experience is not yet over, as viewers at home are set to be blown away by a two-hour long Mother of All Parties on 30 July 2020 which will feature prominent and upcoming local Durban talent and entertainment, between 16h00 and 18h00 on social media platforms. The Mother of All Parties will be followed by the ‘Virtual July Township Experience’ entertainment special to be aired on Friday between 16h00 to 18h00 at MTV Base, channel 322 and all Durban Tourism social media platforms showcasing the lifestyle of five township restaurants base in Umlazi, Chesterville, Umgababa and KwaMashu, namely – Artizen Lounge, Casablanca,Coastal Lounge, Eyadini Lounge, Mashamplane’s Lounge, Max’s Lifestyle, Mojo’s Lounge, Nsimbini Lounge, the Zone, Umgababa Lounge, Under the Moon and Zarks. &nbsp;More Durban township products will be featured through destination in various media platforms as we invite people to explore the products in a Covid-19 responsible way.&nbsp; The aim is for the whole world to see the African cuisine served in these places, ambience, music played and all so that they will consider exploring Durban.



In a bid to &nbsp;promote the Durban destination together with the local entertainment talent, the City partnered with various stakeholders in hosting #VDJ 2020 virtual music concerts such as pre and after parties which was the most talked about during this weekend and reminded people about the nightlife. The platform afforded and contributed to the artists’ income as they have not been on stage for a very long time. The total number of artists who benefitted is approximately 50 who received a stipend payment and exposure. The artists expressed their gratitude for the opportunity to earn an income during this challenging time of the Covid-19 pandemic.



As part of destination promotion, Durban Tourism partnerd with Gold Circle to shoot with models and horses at the Durban promenade as well as Max’s Lifestyle, bring much excited to both areas and showcasing the symbol and spirit of the VDJ



Fashion was also the centre of attention at the VDJ themed “Butterflies” that saw nine local designers from the Durban Fashion Fair Programme receiving utmost exposure on DSTV interviews about their outfits, professional social media video posted on VDJ &amp; DFF platforms digital platforms, 2 x professional studio images (model + designer &amp; model), R5000 cash from Gold Circle, R1000 Gateway Shopping Mall voucher and 5gig data from Vodacom.



EThekwini Deputy City Manager for Economic Development and Planning, Philip Sithole said: “I am happy that our hard work is paying off. Most of the establishment and brands successes within the industry are because of our endless support and through the maximum exposure we provided during this virtual VDJ we know they are bound to even take the City’s flag higher.”



Sithole reiterated that there was no way they could just forget about this event and not host it as there are so many subsectors who depend on it and who are economically bleeding because of current economy situation. “Because of our creative virtual concept, we are happy to state that some of these sectors benefitted.”



These include health and safety consultants, technical production companies, activations, events and marketing consultants, décor and stage production, catering, graphic design and creatives, videographers and photographers, models, make-up artists, medical services and social media influencers.



Taking the concept beyond, Durban Tourism will be engaging online with various tour operators on a campaign named Re-discover Durban’s &nbsp;hidden gems through a continued Durban virtual experience campaign.



Deputy Head of Durban Tourism, Winile Mntungwa said: “Re-discover Durban is a continuation of the #Durbanhasmore campaign where the public and potential tourist are being reminded about the hidden gems of the City. It’s an initiative that entrenches the brand by piquing the interest of tourists about the hidden gems that Durban has to offer and will run until the Summer campaign begins.”



The holistic aim of the Virtual Durban July Experience was for the City of Durban to remain top of mind with tourists and also to showcase what the VDJ is known for as a spectacular explosion of fashion, food, entertainment and of course horse racing.



Follow the Durban’s Virtual July Experience on twitter @dbntourism and on Facebook @DBNTourism and Instagram @dbntourism and also on <a href="http://www.visitdurban.travel">www.visitdurban.travel</a>

Qwabe

VIRTUAL VDJ EXPOSES LOCAL CREATIVE AND ENTERTAINMENT INDUSTRY

Economic growth continues to be one of the focus areas for the Gauteng Provincial Government (GPG) and the Gautrain responds to that through its socio-economic impact strategy.&nbsp; For every R1 spent on Gautrain, R1.72 has been added to the Gauteng economy. The recent independent Hatch impact study has concluded that the Gautrain continues to deliver jobs and investment in Gauteng.&nbsp;



The Gauteng MEC for Public Transport and Roads Infrastructure, Mr Jacob Mamabolo, has recently alluded to Gautrain being in the forefront, as he examines ways of growing the economy through smart investments in transport, restructuring the urban form around transport nodes, the use of technology as an enabler of better and more efficient transport systems.&nbsp; This is a result of Gautrain’s positive contribution to spatial development, urban restructuring, economic growth, job creation and modal integration.



The GPG’s current strategic focus is economic growth and Smart Mobility as an enabler of the vision for growing Gauteng’s economy.&nbsp; Smart Mobility refers to the innovative ways of getting around. It involves the use of various transport modes that are smarter, cleaner, safer and integrated and that moves people, goods and services more efficiently. It promotes sustainable mobility and is coupled with numerous urban, social, economic and environmental benefits. Gautrain is such a Smart Mobility service.&nbsp; It uses latest technology; it safely and comfortably moves people to their destinations though an environmentally friendly transport option. The Gautrain is supported by an integrated network of other buses, midi-buses, Bus Rapid Transport systems and other rail services.



The Covid-19 pandemic has brought many changes to society including changes in travel regulations and social gatherings. Gautrain has demonstrated that it is cognisant of these changes through its responsive actions that was approved by the National Minister of Transport during his visit to Gautrain. The following health and safety measures are part of actions implemented and are still in place:



<ul class="wp-block-list"><li>Alcohol-based hand sanitisers are available at all stations, buses and midibuses;</li><li>Regular cleaning protocols are in place, i.e. trains, buses and midi-buses are cleaned and disinfected at regular intervals throughout the day.&nbsp; Special cleaning staff are deployed at stations to wipe-down and disinfect touchpoints, such as handrails; fare gates and other surfaces,</li><li>In ensuring that social distancing is adhered to, all stations have floor decals to assist passengers to keep clear and required distances;</li><li>Seats on trains, buses and midi-buses have been cordoned off to allow for social distancing;</li><li>The use of face masks is compulsory on Gautrain just as it is in all public transport modes and public areas.&nbsp;&nbsp; All passengers and staff are required to wear a face mask at all times at stations and onboard trains, buses or midi-buses.&nbsp; Security guards monitor this;&nbsp;&nbsp;</li><li>All staff in direct contact with customers are screened for Covid-19 ahead of resuming their normal duties. Staff is screened for fever throughout the day; and</li><li>Staff is required to wear the respective personal protective equipment as stipulated by government regulations.</li><li>Detailed information on health and safety measures, is available at <a href="http://www.gautrainalerts.co.za/">www.gautrainalerts.co.za/</a>.</li></ul>



After ten years of operation and close to 125 million train passenger trips and 38 million bus passenger trips, Gautrain matters for Gauteng, the service not only continues to offer safe, reliable and convenient public transport but contributes significantly to the economy and society.&nbsp;



<h2 class="wp-block-heading">Follow us on:</h2>



<ul class="wp-block-list"><li>Twitter &#8211; @TheGautrain</li><li>Facebook – <a href="http://www.facebook.com/gautrainn">www.facebook.com/gautrain</a></li><li>Instagram – TheGautrain</li><li>Website – <a href="http://www.gautrain.co.za">www.gautrain.co.za</a></li><li>Call Centre – 0800 42887246</li><li>SMS alert line – 32693</li></ul>

gma_ar-0333

GAUTRAIN – Why It Matters

<h2 class="wp-block-heading">UAE financial centers act as a gateway to benefit African businesses</h2>



GCC, July 13th, 2020: Tata International Limited (TIL) has completed the first tranche of a receivables securitization transaction for USD 48 million in order to support their business growth in Africa. TIL packaged their receivables from eight African countries and successfully raised funding against them. The countries include Kenya, Uganda, Tanzania, Ghana, Nigeria, Senegal, Ivory Coast and Zambia.



The receivables were securitized through an entity set up in the Abu Dhabi Global Market (ADGM) by Al Tamimi &amp; Company. The Dubai headquartered Alpen Capital acted as the sole financial advisor to the transaction.



TIL is the primary trading arm of the Tata Group and has a substantial presence in Africa with operations in over 19 countries in the continent. In addition to the trading business, TIL is also a distributor for Tata Motors and Daewoo commercial vehicles, Jaguar Land Rover automobiles and John Deere construction and agricultural equipment across the African continent. &nbsp;&nbsp;



“Africa is a key market for TIL’s commercial vehicles business. TIL provides support to local entrepreneurs, farmers and SMEs to grow their business. This transaction allows TIL to increase their market share in Africa while supporting economic development at a local level. I would like to thank Alpen Capital for conceptualizing, structuring and concluding this sophisticated transaction.” said Noel Tata, Managing Director, Tata International Limited



“ADGM is an innovative, progressive and responsive international financial center transforming the business and finance landscape and is uniquely positioned as a gateway to benefit African businesses and transactions. We continue to introduce and launch initiatives that benefit businesses across the region and beyond as part of our efforts to reinforce our position as a leading International Financial Centre and to contribute to the global financial and business landscape.” said Juma Al Hameli, Senior Executive Director, Strategy and Business Development.



<blockquote class="wp-block-quote is-style-large td_quote_box td_box_center is-layout-flow wp-block-quote-is-layout-flow">“We value our relationship with TIL and are extremely proud to support them in their funding requirements. The UAE is emerging as a key financial center for the India-Africa corridor. In partnership with Tata International, Alpen is currently working on a number of initiatives including development finance in African countries as well as pan-African leasing structures. We are happy to partner with financial centers in the UAE to successfully structure transactions of this nature.” <cite>Rohit Walia, Executive Chairman, Alpen Capital (ME) Limited.</cite></blockquote>



Established in 1962, TIL has operations across five key business verticals: Metals Trading, Minerals Trading, Distribution, Leather &amp; Leather Products and Agricultural-based Products. TIL has a network of 49 offices spanning over 39 countries in Africa, Asia, the Americas and Europe supported by 10,000+ employee base.



For media enquiries, please contact:



Sameena Ahmad, Corporate Affairs



Telephone +971 (0)4 363 43 45 e-mail: sameena.ahmad@alpencapital.com



Alpen Capital (ME) Ltd – <a href="http://www.alpencapital.com">www.alpencapital.com</a>



Alpen Capital (ME) Limited is incorporated as a limited liability company in the Dubai International Financial Centre, Dubai, United Arab Emirates and is licensed by the Dubai Financial Services Authority. Alpen Capital offers a full range of investment banking advisory services in the areas of M &amp; A, Debt, Equity and Capital markets to some of the largest business conglomerates and financial institutions in the GCC and South Asia. Apart from the UAE, it has offices in Qatar, Oman and India.

TATA_Novus_(16605374004)

Tata International concludes a securitization transaction for its African Subsidiaries

<h2 class="wp-block-heading">Uber, in partnership with Mastercard to provide 120,000 free trips to frontline workers in MEA, including South Africa, Nigeria, Kenya, Ivory Coast and Ghana</h2>



The partnership with Mastercard is setting the benchmark for Uber across the MEA region



As cases of COVID-19 continue to escalate, those assisting communities continue to forge ahead.&nbsp; As they work tirelessly to continue to support, feed and protect communities, Mastercard has committed 120,000 free trips and meals to those supporting communities across the Middle East and Africa, which will be facilitated through Uber.



Uber is utilizing their technology and making available their wide network of drivers to ensure those who are supporting communities and the many frontline workers who need to be mobile, have a reliable and efficient way of getting around. Once qualifying workers have successfully signed up through Uber’s website, they can arrange transportation to and from their homes and to where they are needed, such as healthcare facilities or to feed the vulnerable. Uber has shared relevant health information with drivers to ensure they are well-informed in COVID-19 related safety protocols and have been provided with masks and sanitizer reimbursements.



Mastercard is helping people around the world navigate these challenging times. While ensuring that its network remains secure, resilient and reliable, Mastercard is also applying its technology, philanthropy, and data science expertise to rebuild healthy communities and ensure that economic growth is inclusive. As millions of people across the world come together to support, feed and protect their communities, Mastercard is extending its support to help those who help others.&nbsp;&nbsp;



This strategic partnership between Mastercard and Uber spans across the region and the power of this partnership is evident in Uber’s latest partnership across SSA:



<ul class="wp-block-list"><li>South Africa: Uber has partnered with The Bill and Melinda Gates Foundation to deliver chronic medication to vulnerable patients who cannot travel. Through this partnership, Uber has also been able to assist Doctors Without Borders to collect thermometers and transport them to clinics across South Africa.</li><li>Kenya: Uber has teamed up with The Nairobi Hospital and Gertrude’s Children’s Hospital to provide trips to ease movement for medical professionals, ensuring that frontline workers have a reliable and efficient way of getting to and from where their services are required.&nbsp;</li><li>Ivory Coast: Uber has partnered with Ivorian Ministry of Health and SOCIDA, Ivory Coast’s leading automobile dealers and distributors of the Renault, Suzuki, Isuzu and HELI brands, to provide free transportation to health workers in Abidjan.</li><li>Nigeria: Uber has partnered with the with Ministry of Humanitarian Affairs, Disaster Management and Social Development to support the President’s COVID field team with rides and to provide meals for school children</li><li>Ghana: Uber is supporting FreeLunchGH and The Safe Space Foundation with free rides.</li></ul>



<blockquote class="wp-block-quote is-style-large td_quote_box td_box_center is-layout-flow wp-block-quote-is-layout-flow"> “Mastercard continues to partner with digital players across the value chain to build a more connected world by supporting our communities. With our partner Uber, we are committed to support healthcare and essential workers who are working tirelessly to take care of us. Uber’s mission to improve lives is matched with Mastercard’s mission of doing well by doing good, together we are focused on helping frontline workers across the region feel confident and safe with access to free transportation.”<cite>Amnah Ajmal, Executive Vice President Market Development, Mastercard, MEA </cite></blockquote>



Anthony le Roux Regional General Manager, Uber, Middle East and Africa, “It is our role to help the society by providing relief, especially those who work tirelessly to support our communities. This is the largest partnership for us across MEA and we are amazed at Mastercard’s relentless effort to make a difference. We are proud to be working alongside them to ensure those supporting our communities, especially those on the frontline, have access to safe and reliable transport.&#8221;



This is just a start and this commitment comes as part of Uber’s global pledge to help communities in need to “Move What Matters”.

Uber launches its largest region-wide initiative in partnership with Mastercard

1[1]

Maktech’s Godwin Makyao: Now Is A Time of Entrepreneurial Opportunity in East Africa

Sanlam Investments is responding to the COVID-19 pandemic through large-scale support of the recovery of South African companies, from small enterprises to corporates that employ a large number of people. Sanlam has committed R2.25 billion of its own capital to seed three funds with the core objective of preserving and creating jobs &nbsp;̶&nbsp; in a drive to mobilise further capital from like-minded investors set on re-igniting economic growth.



The three impact funds, named the Investors’ Legacy range, share the common goal of backing companies negatively affected by COVID-19, but which have a strong likelihood of producing sustainable cashflows after the pandemic should they receive the required financial support. Each fund focuses on a different part of the market – SMEs, mid-market and large corporates – and will provide financing in the most appropriate form, whether it be in the form of loans or equity investment.



To Sanlam, people matter most and every job in South Africa counts. Economists estimate that, depending on how long the lockdown continues, we could have 3 to 4 million people losing their jobs, pushing the unemployment figure to close to 50%. The Reserve Bank revised its GDP forecast to a deeper contraction of the economy at -7.0% for 2020, while some private sector economists suggest that -10% is more likely. The other difficulty in South Africa is that we entered COVID-19 in a recession and we may be harder hit than other countries as a result. &nbsp;Providing funding to struggling South African companies can prove to be just the lifeline these entities need to pull through the COVID-19 crisis and save jobs.



<blockquote class="wp-block-quote is-style-large td_quote_box td_box_center is-layout-flow wp-block-quote-is-layout-flow">In 1918, a small group of businessmen had a vision to start a local insurance company to empower communities. Today, our mission remains unchanged &#8211; to invest in the potential of Africa’s people and help forge solid financial futures. We foster a win-win business model, where we support the businesses we partner with. When they grow, we grow. All of South Africa grows.<cite>Ian Kirk, CEO of Sanlam</cite></blockquote>



Sanlam Investments chief executive Nersan Naidoo says, “We actively seek out opportunities to support the recovery of South Africa in a purpose-led, society-focused, and investor-centric way. Particularly in times of crisis, we can empower other companies to create and sustain jobs, which has a real, meaningful flow-through to economic growth, and at the same time offer investors a good return on their capital.”



<div class="wp-block-image"><figure class="alignleft size-medium"><img loading="lazy" decoding="async" width="227" height="300" src="https://www.cnbcafrica.com/wp-content/uploads/2020/06/Sanlam-CEO-_Investments-227x300.jpg" alt="" class="wp-image-375236" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/06/Sanlam-CEO-_Investments-227x300.jpg 227w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/Sanlam-CEO-_Investments-776x1024.jpg 776w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/Sanlam-CEO-_Investments-768x1014.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/Sanlam-CEO-_Investments-696x919.jpg 696w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/Sanlam-CEO-_Investments-600x792.jpg 600w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/Sanlam-CEO-_Investments.jpg 1063w" sizes="auto, (max-width: 227px) 100vw, 227px" /><figcaption>Nersan Naidoo</figcaption></figure></div>



The Investors’ Legacy funds range is consciously aligned with the United Nation’s Sustainable Development Goals, particularly those goals focused on eradicating poverty, reducing inequalities and promoting economic growth. The capital will be invested with the intention of generating a social impact, while also looking to deliver returns that allow investors to achieve their long-term financial objectives. The management teams will invest into commercially-viable businesses that struggle to access the necessary liquidity in the midst of the pandemic, and without which they might not survive. &nbsp;The ultimate goal is to promote economic growth; preserve and create jobs; and create a more sustainable and inclusive society. ESG considerations are embedded into the process and the funds will report back on the extent to which impact objectives are met.



For over 100 years, Sanlam has been investing in potential. Says Ian Kirk, CEO of Sanlam, “In 1918, a small group of businessmen had a vision to start a local insurance company to empower communities. Today, our mission remains unchanged &#8211; to invest in the potential of Africa’s people and help forge solid financial futures. We foster a win-win business model, where we support the businesses we partner with. When they grow, we grow. All of South Africa grows.”



“As a financial services provider with our roots firmly in South Africa, we are keenly aware of our responsibility to support South Africa’s economic recovery and launching the Investors’ Legacy range is one such action we have taken. In the past few months, we have made various contributions to support clients and communities in South Africa and across the African continent. These include substantial contributions to South Africa’s Solidarity Fund and to the African Union; premium holidays, premium reductions and other such relief actions to clients; and we have provided funds for our businesses across the continent and other markets to make similar contributions in the countries where we operate. We need to get through this crisis and then rebuild our economies on an inclusive growth basis.”



Sanlam’s goal is to mobilise &#8211; apart from its own seed capital of R2.25 billion &#8211; further capital from like-minded investors who want to join in accelerating the much-needed growth of the economy, post-lockdown. It envisages the typical investor to be an institutional investor which, while likely to have a requirement to target a market-related financial return, has a strong alignment with the impact themes of economic growth; job preservation and creation; and social inclusion. Investors can choose to allocate to each fund individually or invest in a blend of the three impact strategies.



Each of the three funds will be managed by a team with an outstanding track record. The Investors’ Legacy SME Debt fund is run by a female-led team with a 10-year track record of successfully delivering on their funds’ investment objectives (with no negative months). Alongside it, the Investors’ Legacy Private Equity fund is managed by a seasoned team and a network of commercial experts that partner with us to execute on our embedded ESG and value creation strategy. In total, Sanlam’s corporate debt structuring unit has originated over R100 billion in assets since its establishment in 2004.



“The urgency and scale of the required response from us all are unprecedented,” says Nersan Naidoo. Naidoo adds, “The capital we raise together will be invested to generate a measurable social impact, while also delivering favourable returns for our retirement fund clients, so that we can make a real, sustainable difference. We want to be part of this urgent drive and shared fiduciary responsibility to rally together to preserve value in sustainable businesses. We urge others to join us on this journey.”

Sanlam Miss Advertorial Image 1

Sanlam launches urgent job-preservation initiative in response to COVID-19

Content provided by CompareForexBrokers



Prior to understanding why market volatility might be here to stay for the foreseeable future, the concept must be defined and understood on a basic level. When it comes to the forex trading market, volatility is the measurement of the frequency and extent of the positive and negative changes and swings in a particular currency’s value.



For example, if the Australian Dollar deviated from its average quite frequently and the deviations were substantial, it would be known to be a highly volatile currency. On the contrary if the Japanese Yen’s deviations from average were quite minimal and very rare – the currency would be known to have low volatility.



Volatility in the Forex market might not be all so bad, the more volatile the currency, the easier for traders to make big gains as price moves are likely to be larger. However, at the same time, such volatility can hold <a href="https://capital.com/volatility-risk-definition">trading risk</a>.



<h2 class="wp-block-heading">Difference between Volatility and Risk</h2>



Many forex traders make the mistake and join the concepts of volatility and risk at the hip. When in reality, they are different, and understand that much can take a trader a long way to being successful in the currency market game.



Market volatility, currency fluctuations, price gains and losses are all elements of Forex Trading that traders cannot control. However, risk is within a traders control. An individual can choose how much to invest, how much risk to expose themselves to and whether they are able to manage risk in general.



It is accurate that trading volatile currencies carries a large amount of risk, but traders need to be aware that it is ultimately up to them how much of their investment portfolio is made up of volatile currencies, and as a consequence the amount of risk they deal with.



<h2 class="wp-block-heading">Dealing with Volatility</h2>



When it comes to responding to volatility, many will say there is no one size fits all methodology. One of the more important mindsets to adopt is the ability to mould the volatility to your trading strategy and your current ‘life stage of investing.’



Those in their twilight years, will most likely be risk averse, and would prefer to trade with currencies that offer lower volatility, as opposed to those who are younger and a hungrier for a bit more ‘bang for buck.’



As COVID-19 continues to bring uncertainty on a global scale, many countries are struggling to keep up with the health requirements and the dire economic outlook. This uncertainty brings the understanding that market volatility is here to stay as covered by <a href="https://edition.cnn.com/2020/03/14/investing/dow-stocks-worst-week-2008/index.html">CNN</a>.



<h2 class="wp-block-heading">Historical Volatility v Implied Volatility</h2>



One of the ways to understand volatility in a more wholistic manner, is by understanding the difference between historical volatility and implied volatility.



Implied volatility is when a trader is able to look at options presented to them and ascertain what the implications of those options are. This does not employ historical charts or information, and is majorly based on the ability of the option provided to succeed in the future market.



Historical volatility measures and determines the price fluctuations of a currency over time, and ascertains where a currency is tracking based on its past performance.



<h2 class="wp-block-heading">Summary</h2>



During these tumultuous times, its evident that market volatility is prevalent and will be an important facet of the trading markets in the <a href="https://www.refinitiv.com/perspectives/future-of-investing-trading/the-covid-19-crisis-brings-volatility-back-to-the-fx-market/">short term</a>. It is up to the trader to ascertain how much risk they are able to manage and have the foresight to use fluctuations to their advantage as opposed to conceding major losses on investments.



Disclaimer: Currency trading is a leveraged product which means that with an eligible FX broker you can amplify your deposit up to 500 times. This leverage means there is a real possibility of losing your money so it’s important to understand the risks involved and consider options such a practice account. For more information view the South African section of <a href="https://www.compareforexbrokers.com/best-forex-broker/south-africa/">CompareForexBrokers</a>.

101416618-rand

Is Market Volatility Here For The Foreseeable Future?

<h2 class="wp-block-heading">FROM THE MAYOR’S DESK</h2>



<div class="wp-block-image"><figure class="aligncenter size-large is-resized"><img loading="lazy" decoding="async" src="https://www.cnbcafrica.com/wp-content/uploads/2020/06/blue_tonal-1.jpg" alt="" class="wp-image-373248" width="200" height="128" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/06/blue_tonal-1.jpg 783w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/blue_tonal-1-300x192.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/blue_tonal-1-768x491.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/blue_tonal-1-696x445.jpg 696w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/blue_tonal-1-600x384.jpg 600w" sizes="auto, (max-width: 200px) 100vw, 200px" /></figure></div>



Halfway through the month of May, we had fruitful engagements with the Captains of Industry within the City of Durban where we unpacked the City’s Economic Relief and Recovery Plan in response to the COVID-19 pandemic.



<blockquote class="wp-block-quote is-style-large td_quote_box td_box_center is-layout-flow wp-block-quote-is-layout-flow">It is now common cause that in extraordinarily challenging times like these, collaboration amongst various social partners is a prerequisite for any hope of successfully navigating the treacherous waters in which we find ourselves. No single social partner, be it business; government; labour or civil society, can strike out on their own and hope to address the COVID-19 pandemic and its impact.</blockquote>



On 18 May 2020 we came together as social partners to unpack the meaning of the City’s Economic Relief and Recovery Plan.  We also shared ideas on what we could do, individually and collectively, to fine-tune the plan and implement it.



As a City we gained useful insights from our social partners and we were highly encouraged by the positive manner in which our stakeholders engaged with the plan, including suggesting innovative ideas.



The devastation wreaked by COVID-19 in our society is enormous.&nbsp;



We estimate that since COVID-19:



<ul class="wp-block-list"><li>About 327 000 people lost their income or employment;</li><li>Unemployment will rise to 42%;</li><li>About R10 billion of Foreign Direct Investment (FDI) has been put on hold and another R8.5bn is at risk;</li><li>A deep contraction in economy is expected; and</li><li>While 32% of eThekwini’s economy has returned in stage 4, it will take some 18 months to get back to pre-lockdown levels and that, sadly, many businesses will close.</li></ul>



We believe our various interventions will help ameliorate the impact of this pandemic.



On the tourism front, which is one of the biggest employers in our City, we have re-categorised municipal rates for tourism B&amp;Bs and Guesthouses from commercial rates to residential rates. We have also instructed our Treasury to enter into arrangements with affected establishments to defer the payment of rates without incurring interest on outstanding rates for a period of up to six months. We are also linking affected businesses with the various national and provincial funds aimed at assisting tourism businesses.



On the events front, we have taken the decision to postpone &#8211; albeit some have been cancelled &#8211; those events for which we had sponsorship agreements. &nbsp;



We have also trained our sights on rural and township tourism, which is mainly led by emerging entrepreneurs for assistance. In this regard, we have doubled the allocation to Community Tourism Organisations (CTOs), from R250&nbsp;000 to R500&nbsp;000.



Notwithstanding these interventions, the situation is still challenging and requires all of us to put our collective proverbial shoulder to the wheel and rebuild the tourism sector. &nbsp;



As we enter Level 3 of the Lockdown, we urge those tourism businesses permitted by regulations to operate, to adhere strictly to the regulations in order to avoid regression back to Level 4. &nbsp;These are unchartered waters for all of us, but we urge all tourism stakeholders to act in unison towards a swift recovery of this important sector.



To those who miss Durban, we want to assure that when the Lockdown is over, we shall have in store for you a Durban that is warm and welcoming as well as creating unforgettable memories for you for many years to come.&nbsp; &nbsp;&nbsp;



<h2 class="wp-block-heading">DURBAN TOURISM LAUNCHES “VIRTUAL DURBAN EXCURSIONS”</h2>



<figure class="wp-block-embed-youtube alignwide wp-block-embed is-type-video is-provider-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="Know Your Durban Virtual campaign Teaser 1_City eSCAPES" width="500" height="281" src="https://www.youtube.com/embed/0Dod_fcQ174?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
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In a bid to keep the Durban destination top-of-mind for tourists as the world grapples with the COVID-19 pandemic, Durban Tourism has launched the ground-breaking “Virtual Know Your Durban Campaign” which started at the beginning of June.



The aim of this campaign is to connect with Durbanites and South Africans. It also provides an opportunity for the world at large to re-discover the Durban destination and virtually re-connect with the City in anticipation to what they can explore live when leisure travel is permitted.&nbsp;



The “Virtual Know Your Durban” campaign will showcase attractions, experiences and tourist activities which, over the years, have made Durban a destination of choice globally. The campaign will take its digital visitors on a virtual journey of Durban’s hidden gems and this will be activated on various social media platforms of the Durban Tourism and mainstream TV channels.



This campaign focuses on the domestic market particularly on Durbanites because it is our contention that many locals in our City and South Africa are yet to fully experience the offerings of Durban as a tourism destination. Therefore, we believe that the recovery of the sector will, initially, depend on local visitors to the various attractions. This campaign aims to achieve exactly that.



The “Virtual Know Your Durban” campaign is a collaborative effort involving Durban Tourism, product owners and stakeholders in the City’s tourism sector. It is as a direct result of the ongoing engagements between the City and a cross-section of tourism stakeholders which, among others, led to the crafting of the existing Tourism Recovery Plan for the City.



Another component of the Virtual Durban Excursion campaign to be rolled out is the Durban Influencer Virtual Tour.&nbsp; This sub-campaign will feature Durban’s foremost entertainers including Zakes Bantwini, DJ Cndo and DJ Sox, to mention but a few. These stars will be proudly taking our visitors on a visit to Durban’s attractions as well as hidden gems, all the while giving commentary on what the attractions have to offer, but still spreading the message as we grapple with the COVID-19 pandemic.



For this sub-campaign, Durban Tourism has partnered with the MTV Base Channel who will follow these artists as they visit different sites. “A critical part of this virtual tour&nbsp; is the participation of upcoming local artists, who will be paired with established local artists and take part in showcasing their art through virtual&nbsp; concerts and other activities that will be live streamed in various digital platforms as part of the Virtual Know Your City campaign,” said Sithole. The Durban Influencer Virtual Tour kicked off on the 4th of June.



We invite all our clients to join us on the excursion as we explore Durban on the hashtags of: #KnowYourDurban; #MyDurban; #AmazingDurban; #DurbanHasMore #RediscoverDurban #ThisisDurban



<h2 class="wp-block-heading">DURBAN JULY INDOOR EXPERIENCE</h2>



Horse racing fans can take heart that the 2020 Vodacom Durban July will take place this year, but as a broadcast-only event without spectators participating from the comfort of their homes.



The City of Durban is proud to be associated with this particular race which is a mainstay of the continent’s entertainment calendar.



Vodacom and Gold Circle have confirmed a joint commitment to run Africa’s Greatest Horseracing Event, but under the strictest adherence to all government health protocols around COVID-19.



“Gold Circle,&nbsp;together&nbsp;with the ongoing support of the company’s valued sponsor Vodacom, is fully committed to running the 2020 Vodacom Durban July. Sadly, given the reality of the present circumstances, the race meeting will be staged behind closed doors and without spectators,” said Gold Circle CEO Michel Nairac.



Durban’s very association with this premium event will profile the destination globally through the use of electronic and digital media.&nbsp; Initial projections are that the 2020 event will generate at least 50% of the coverage garnered at last year’s event which was held in the open. In fact, it is envisaged that the coverage of the actual race will eclipse last year’s coverage figures by 10% (from approximately R31 million to about R34 million) The projected total coverage value for the 2020 VDJ is about R67 million.



“The VDJ has enjoyed an uninterrupted history since first being run in 1897 – not even two world wars prevented the race from being run – and we are doing everything in our power to ensure that 2020 is not the exception,” he added.



The proposed date for the race is Saturday 25 July, but the extremely fluid nature of the current pandemic means this could change as circumstances so dictate.



Amongst other things, the 2020 VDJ will be a creative stage for the City’s fashion programme (Durban Fashion Fair) and will prompt the reimagination in the staging of different pillars of the VDJ including the various pre and after parties.



&nbsp;“Any decision we make around the Vodacom Durban July this year will be made as a responsible company committed to the safety of all who are involved.&nbsp;As a sponsor, we will work together with all relevant stakeholders and be guided by the horseracing fraternity and the experts in this industry, as well as in government, as we all work towards making this year’s race a reality,” said Michelle van Eyden, the Executive Head of Sponsorship at Vodacom.



<h2 class="wp-block-heading">TOURISM IN DURBAN SEES GREEN SHOOTS</h2>



Durban Tourism expects to see more green shoots in the City’s tourism sector as we enter Level 3 of the Lockdown as a result of the COVID-19 pandemic. While Level 5 had shut down all tourism activities, Level 4 saw some movement in the sector, with people allowed to exercise within stipulated times and restaurants being allowed to deliver orders to households.



Entering Level 3, amongst other things, sees resumption in the sale of alcohol as well as gradually re-introducing air travel for business. Critically, Level 3 allows for restaurants to operate, albeit on a take-away and order and delivery basis.&nbsp; This means that shisanyama outlets that also sell alcohol as well bottle stores are gradually able to trade. Level 3 also means that residents of our City can now enjoy our beautiful scenery while on their bicycles, hiking and game drives as these are now permitted.



During the Lockdown, the City of Durban has been engaged in an intensive campaign to spruce up the City and make sure that when tourists return to Durban, they experience a clean destination free of crime and grime. Stakeholders in the tourism sector must know the dos and don’ts of the Level 3. For more information on the meaning of Level 3 of the Lockdown, please visit: <a href="http://www.sacoronavirus.co.za">www.sacoronavirus.co.za</a>



<h2 class="wp-block-heading">A DURBAN GEM WORTH DISCOVERING</h2>



The COVID-19 pandemic has taught us that we need to do tourism differently. A rise in the trend of wellbeing and nature-based tourism activities as people seek a psychological let out after the lockdown is likely to be experienced. Durban, Kwa-Zulu Natal’s scenic and unique natural beauty icon, together with its warm subtropical climate provides an ideal opportunity to explore nature and is an experience that is unique to the destination.



One such hidden gem is the Krantzkloof Nature Reserve which is situated in Kloof which falls part of the Western Region of the City.



The Nature reserve, which is currently Managed by Ezemvelo KZN Wildlife, contains a wealth of biodiversity with a very high level of endemism and history. The nature reserve’s breath-taking scenery is the result of deep incisions into the ancient Kloof Plateau by Molweni and Nkutu rivers which in turn flow into the Indian Ocean at Blue Lagoon.



Activities that can be enjoyed include:



<ul class="wp-block-list"><li>Rock Climbing;</li><li>Guided and Self-guided walks;</li><li>Picnic Sites;</li><li>Educational guides on special plan species, animals and birding;</li><li>Wellness and Spa Centre’s within the Vicinity;</li><li>Scenic Waterfall</li></ul>



<figure class="wp-block-image alignfull size-large"><img loading="lazy" decoding="async" width="1110" height="500" src="https://www.cnbcafrica.com/wp-content/uploads/2020/06/GettyImages-1015406440-1-scaled-e1591331087963-1110x500.jpg" alt="" class="wp-image-373245" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/06/GettyImages-1015406440-1-scaled-e1591331087963-1110x500.jpg 1110w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/GettyImages-1015406440-1-scaled-e1591331087963-300x135.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/GettyImages-1015406440-1-scaled-e1591331087963-768x346.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/GettyImages-1015406440-1-scaled-e1591331087963-1536x691.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/GettyImages-1015406440-1-scaled-e1591331087963-2048x922.jpg 2048w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/GettyImages-1015406440-1-scaled-e1591331087963-696x313.jpg 696w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/GettyImages-1015406440-1-scaled-e1591331087963-1068x481.jpg 1068w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/GettyImages-1015406440-1-scaled-e1591331087963-1920x864.jpg 1920w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/GettyImages-1015406440-1-scaled-e1591331087963-600x270.jpg 600w" sizes="auto, (max-width: 1110px) 100vw, 1110px" /><figcaption>Two adult cheetahs loll on the game drive path of an oncoming tourist filled vehicle in the Thanda Game Reserve in Kwazulu Natal Province, South Africa. Horizontal full colour image.</figcaption></figure>



INDUSTRY READINESS



With the country going onto Level 3 of the lockdown which relaxes economic activity and human movement even further, the tourism sector is slowly re-opening. This is a critical period for the sector because the sector’s response will partly determine whether we move onto Level 2 or we regress to Levels 4 or 5. The key to this determination is how well the sector adheres to the Level 3 restrictions and attendant sector-specific protocols.



As the tourism sector, we must ready ourselves for the new normal in our operations that will be brought by the various levels. We must adhere to the protocols for the sector during the lockdown. To find out more about these protocols, go to: <a href="http://www.tbcsa.travel">www.tbcsa.travel</a>



Interested in learning more about tourism in Durban?



Contact Us:



+27 31 322 4164



<a href="mailto:info@visitdurban.travel">info@visitdurban.travel</a>

Sea And Cityscape Against Clear Blue Sky

DURBAN TOURISM LAUNCHES “VIRTUAL DURBAN EXCURSIONS”

As we go through this global pandemic together, it is the little things we miss. A high five, a handshake, a walk with loved ones… right now, there’s one little thing we all need to do – stay home and stay safe. However, while this little – microscopic, in fact – virus wreaks havoc on our world, our opportunity to make a collective impact has never been greater. Now’s the time to do our bit. Sanlam is committed to making a difference.



To date, outside of South Africa, the Sanlam Group and its partners have pledged close to $12 million to COVID-19 relief efforts across the 33 countries in which they operate.



The group has called on its corporate contemporaries across the continent to do all they can. Heinie Werth, Group Executive: Corporate Affairs and Services at Sanlam&nbsp;Emerging Markets (SEM), says, “Now is the moment to make a real tangible financial contribution to the cause if you can. Economies are on their knees. All around us, people are suffering. The situation is dire. We’re on a precipice where we have the chance to change lives and save lives.”



As a business deeply interwoven in the countries in which it operates, Sanlam is proactively taking steps to ensure these regions are equipped to effectively respond to the coronavirus and its economic and societal aftermath.



Werth says the task may feel overwhelming, “African economies require significant packages of monetary and fiscal stimulus given the challenges currently being faced. These cannot be achieved by anyone entity alone. A crisis like this calls for strong partnerships between all sectors of society. It is uniting us in a common cause and bringing out the best and purest aspects of our humanity. Large and small acts of compassion and kindness are happening all the time – often unseen. But we believe we can do more. Business has a crucial role to play.”



<blockquote class="wp-block-quote is-style-large td_quote_box td_box_center is-layout-flow wp-block-quote-is-layout-flow">Now is the moment to make a real tangible financial contribution to the cause if you can. Economies are on their knees. All around us, people are suffering. The situation is dire. We’re on a precipice where we have the chance to change lives and save lives.</blockquote>



He adds that Sanlam Emerging Markets (SEM) and its partners had identified meaningful ways to contribute to relief. Some of the initiatives include:



<ul class="wp-block-list"><li>Sanlam Uganda has donated US$75&nbsp;000 to the Government of Uganda’s National COVID-19 Response Fund</li><li>Sanlam Namibia contributed R1 million to the SEM donation</li><li>MCIS Life has donated personal protective equipment to Sabah’s medical society in Malaysia</li><li>BIHL set aside P4.5 million for the Botswana Government’s COVID-19 Relief Fund</li></ul>



Many of these initiatives require further support. “We encourage our peers to join us. Every contribution counts.&#8221;



<div class="wp-block-cover has-background-dim" style="background-image:url(https://www.cnbcafrica.com/wp-content/uploads/2020/05/61wHLjhsWAL-1.png)"><div class="wp-block-cover__inner-container is-layout-flow wp-block-cover-is-layout-flow">

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“Our hearts go out to everyone affected by COVID-19. We know that this virus is having an unprecedented impact on the world, in many ways we cannot yet see. We are committed to doing everything within our power to support South Africans and Africans during this chapter. We will continue to contribute economically. We will support our clients, our staff, and our partners in whatever ways we can. We will actively seek initiatives we know can make a difference.”



Resilience stems from solidarity. Werth concludes, “We need to come together. We need to do our bit. We all miss the little things. But we can make a bigger difference now than we ever thought possible.”

Sanlam Emerging Markets and its partners on the African continent invest over $12 million to fight COVID-19

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="203" height="75" src="https://www.cnbcafrica.com/wp-content/uploads/2020/05/image-e1590734930832.png" alt="" class="wp-image-372653"/></figure>



May 2020 &#8212; Six months ago the vision for vivo in South Africa was just beginning to roll out. Launched in December 2019, the innovative mobile technology brand entered the market with two easy to handle, high spec, well-priced phones, the Y11 and Y91C.



The decision to enter, however, has been a long time coming. It made sense for vivo, the world’s fourth largest cell phone brand with over 300million users globally, to enter the local market, where currently it’s already estimated half the population use smartphones.



<h2 class="wp-block-heading">Entering the South African Market</h2>



“vivo plans to provide South African consumers with a user experience beyond expectations through technology and innovative, trendsetting products,” says Jeff Cao, vivo SA CEO. “Within three years, &nbsp;the company plans to sit in the top tier segment of cell phone brands in SA.”



<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" src="https://www.cnbcafrica.com/wp-content/uploads/2020/05/Jeff-Cao-vivo-CEO92-769x1024.jpg" alt="" class="wp-image-372651" width="489" height="650" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/05/Jeff-Cao-vivo-CEO92-769x1024.jpg 769w, https://cms.cnbcafrica.com/wp-content/uploads/2020/05/Jeff-Cao-vivo-CEO92-225x300.jpg 225w, https://cms.cnbcafrica.com/wp-content/uploads/2020/05/Jeff-Cao-vivo-CEO92-768x1023.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2020/05/Jeff-Cao-vivo-CEO92-696x927.jpg 696w, https://cms.cnbcafrica.com/wp-content/uploads/2020/05/Jeff-Cao-vivo-CEO92-600x799.jpg 600w" sizes="auto, (max-width: 489px) 100vw, 489px" /><figcaption>Jeff Cao, vivo SA CEO</figcaption></figure>



Cao, a young, dynamic businessman is deeply invested in the vivo brand, having joined the company as an intern when it launched in 2011.



“My career started with vivo,” he says. “I witnessed the changes in the industry and the growth of vivo as a brand.”



Launching in South Africa brings a whole new set of challenges and Cao is motivated by this, saying: “The biggest challenge for me is to learn the culture and the&nbsp; consumer demand of the South African market from scratch. I believe that as long as we adhere to the concept of “More Local and More Global”, &nbsp;all challenges are only a matter of time.



“I believe in changing what is changeable, accepting what is mutable, and using wisdom to tell the difference”.



<blockquote class="wp-block-quote is-style-large td_quote_box td_box_center is-layout-flow wp-block-quote-is-layout-flow">“I believe in changing what is changeable, accepting what is mutable, and using wisdom to tell the difference”<cite>Jeff Cao, vivo SA CEO</cite></blockquote>



In his time at vivo Cao managed the Thailand launch and ran that office for more than five years, ensuring he has an innate knowledge to ensure the vivo brand becomes more localized and in line with the prefereces of the South African consumer, while maintaining the core values of technology and innovation.



<h2 class="wp-block-heading">Innovation Driven </h2>



Globally vivo has nine R&amp;D centers around the world, five production bases and a total 80% of staff engaged in R&amp;D work. “This level of commitment to innovation ensures the vivo experience keeps evolving,” explains Cao.



Cao believes in immersing the brand into South African society by fulfilling corporate social responsibilities through the #VIVOCARES initiative, proving that vivo is not just a smartphone brand but also a brand that invests in its community: “vivo came with the dream of building an international first-class brand for South Africans- and we will pursue that dream.



An insatiable demand for 5G on a global scale has seen vivo emerge as the leader in this area, being one of the only companies with a mid-range 5G smartphone on offer. This product is set to launch in South Africa in the second half of 2020.



“We envisage that by 2023 when young people in South Africa think of mobile phones they think of vivo.”



For more information and interview requests please contact <a href="mailto:emma@notetc.online">emma@notetc.online</a>

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