Africa is the world’s second most populated continent, accounting for just under 18% of the global population.&nbsp; Despite this, the continent is accountable for at least 25% of the world’s disease burden.



With more than its fair share of diseases, the World Economic Forum estimates that the total demand for packaged medicines in Africa is around $18 billion per year.&nbsp; Interestingly, 61% of that is serviced through imported products, with only 36% being locally produced. Of the 36%, 40% of the production capabilities are confined to packaging and labelling with the remaining 40% limited to filling and finishing (Who Owns Whom, 2023).



For Africa to effectively service the medical requirements of its 1.4 billion people, countries on the continent must acknowledge the need to enhance their pharmaceutical and medical production capabilities.&nbsp;



In recognition of this, the OR Tambo International Airport Special Economic Zone (SEZ) has designed, and is in the process of developing, a globally competitive medical manufacturing cluster that will enhance the production and export of medical products from South Africa.&nbsp;



<h2 class="wp-block-heading" id="h-or-tambo-sez-s-bold-ambitions">OR Tambo SEZ’s Bold Ambitions</h2>



Comprised of 265,000m² of developable space, the OR Tambo SEZ Precinct 2 development is well positioned to support the production and export of time-sensitive products such as medicines.



Located on the doorstep of OR Tambo International, the SEZ is an ideal location for the production and export of high-value, light weight products that utilize air freight as a mode of transport.



In support of its competitive value proposition, the OR Tambo SEZ completed industry-specific research that identified different elements essential for the establishment of a globally competitive medical manufacturing cluster.&nbsp; The result of this research is a bold plan that aims to secure continental as well as international buy-in, thereby ensuring that the cluster is well positioned to support the manufacturing of different elements that form part of the broader pharmaceutical and medical product value chain in Africa.



<h2 class="wp-block-heading" id="h-the-competitization-of-the-or-tambo-sez-pharma-and-medical-cluster">The Competitization of the OR Tambo SEZ Pharma and Medical Cluster</h2>



The cluster-based approach is globally acknowledged as an effective approach to enhance economic growth and development.



For it to be competitive, any cluster must pursue and ensure the existence of linkages between different elements that form part of the production process; these include basic inputs, manufacturers, role players that approve the products for consumption and those that move the goods to market. Equally important are the research, development and innovation institutions.



The OR Tambo SEZ’s planned pharma and medical manufacturing precinct will have all the above inclusive of a variety of medical production processes such as pharmaceutical mixing, medical device component manufacturing, sub-assembling, labelling and packaging, warehousing and storage, training, standard testing, patent compliance and regulatory approval institutions.&nbsp;



Through this approach, the SEZ, which already boasts of a competitive location, is destined to become a world class pharma and medical products manufacturing destination.&nbsp;



<h2 class="wp-block-heading" id="h-available-incentives">Available Incentives</h2>



As a designated Special Economic Zone, the OR Tambo SEZ will also provide manufacturers that are looking to set up operations with the opportunity to access incentives that reduce the cost of production; this is particularly key, given that manufacturing costs remain a major impediment in the enhancement of manufacturing in Africa.



Available incentives include duty-free importation of production-related materials and assets as well as VAT exemption on exports.&nbsp;



<h2 class="wp-block-heading" id="h-or-tambo-sez-the-competitive-choice">OR Tambo SEZ: The Competitive Choice</h2>



Underpinned by factors such as a skilled labor force, South Africa has long been a location of choice for multinationals looking at Africa. The country also has an established supply chain to foster the medical manufacturing expansion.



All the above, coupled with Gauteng City-Region’s competitive positioning serving as a gateway to sub-Saharan Africa, make the OR Tambo SEZ an ideal location for the production, export and trade of pharmaceutical and medical products within Africa.



For more information on the pharmaceutical and medical cluster being developed at OR Tambo International Airport SEZ, visit: <a href="http://www.ortambosez.co.za">www.ortambosez.co.za</a>

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Establishing A Globally Competitive Pharma and Medical Manufacturing Cluster

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="2048" height="1363" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/VC-profile-Image-scaled.jpg" alt="" class="wp-image-515710" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/VC-profile-Image-scaled.jpg 2048w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/VC-profile-Image-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/VC-profile-Image-820x546.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/VC-profile-Image-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/VC-profile-Image-768x511.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/VC-profile-Image-1536x1022.jpg 1536w" sizes="auto, (max-width: 2048px) 100vw, 2048px" /></figure>



UJ also the number 1 university in South Africa and on the African continent



The University of Johannesburg (UJ) has consolidated its position among the leading institutions of higher learning in the world, soaring to its highest-ever position in global rankings. UJ secured a remarkable #36 position in the <a href="https://www.timeshighereducation.com/world-university-rankings/university-johannesburg">Times Higher Education (THE) Impact Rankings</a> released in June this year. This is quite a feat for a university, considering that this year’s rankings included 1,963 institutions, an increase of 372 from the previous year.&nbsp;The University’s standing in these global rankings marks a significant rise of 10 from its previous position of #46 in the 2023 edition.



Consistently leading as the top university in Africa and South Africa, UJ has also maintained its prestigious #1 spot on the continent and in the country. This achievement is for its exceptional contribution to poverty alleviation, securing the top position in Sustainable Development Goal (SDG) 1: No Poverty. Impressively, UJ now ranks #3 globally in this SDG category, highlighting its firm commitment to research and support initiatives aimed at assisting impoverished students and local communities.



This notable achievement highlights UJ&#8217;s dedication to addressing some of the world’s most critical challenges, including environmental sustainability, social inclusion, economic growth, and collaborative partnerships.



UJ’s performance across individual SDGs is commendable, achieving top 100 rankings in six SDGs:



#3 for SDG 1: No Poverty



#6 for SDG 8: Decent Work and Economic Growth



#13 for SDG 5: Gender Equality



#46 for SDG 10: Reduced Inequalities



#53 for SDG 4: Quality Education



#93 for SDG 2: Zero Hunger



Additionally, UJ’s rankings for other SDGs are as follows:



101-200 for SDG 7: Affordable and Clean Energy



101-200 for SDG 12: Responsible Consumption and Production



201-300 for SDG 9: Industry, Innovation and Infrastructure



201-300 for SDG 17: Partnerships for the Goals



301-400 for SDG 6: Clean Water and Sanitation



301-400 for SDG 16: Peace, Justice and Strong Institutions



401-600 for SDG 11: Sustainable Cities and Communities



401-600 for SDG 3: Good Health and Well-being



401-600 for SDG 13: Climate Action



Apart from its impressive showing in THE Impact Ranking, UJ has also continues its strong performance in the QS World University Rankings, maintaining its position among the top 350 globally. UJ is also recognised as the most improved African institution over the past five years. Earlier, THE Young University Rankings named UJ as the leading university in South Africa and Africa among institutions under 50 years old.



This recognition of UJ in the various global rankings&nbsp;highlights the University’s rapid growth and outstanding potential in the global academic arena. Despite its relatively short history of 20 years of existence, UJ has demonstrated exceptional progress, challenging well-established institutions, some of which have more than a century of legacy, says Letlhokwa George Mpedi, UJ Vice-Chancellor and Principal.



“The University remains steadfast in its commitment to addressing societal challenges through research and knowledge production. “Our progress is not just about numbers and figures; it’s all about the positive and lasting impact we have on our students and the broader society.”

VC profile Image

UJ soars to top its highest-ever position in the global university rankings

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/2.png" alt="" class="wp-image-527193" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/2.png 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/2-300x200.png 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/2-135x90.png 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/2-768x512.png 768w" sizes="auto, (max-width: 820px) 100vw, 820px" /></figure>



Mobile money has exploded across African economies as an enabler of financial inclusion by bringing in large swaths of the population that remained unbanked into the fold to participate in economies across the continent.



According to <a href="https://www.gsma.com/sotir/wp-content/uploads/2024/03/GSMA-SOTIR-2024_Report.pdf">GSMA&#8217;s 2024 State of the Industry Report on Mobile Money</a>, registered mobile money accounts grew by 12% to 1.75 billion in 2023 while transaction values for international remittances via mobile money grew to almost $29 billion and merchant payments by 14% to around $74 billion.



Today, consumers can do anything with a mobile wallet that they can accomplish with a traditional bank account or card. In Kenya, where the mobile money market reached <a href="https://www.imarcgroup.com/kenya-mobile-money-market">$133.2 billion</a> in 2023 and M-Pesa holds a <a href="https://african.business/2023/10/african-banker/kenyas-higher-mobile-money-ceiling-risks-fanning-inflation">96.5%</a> market share, consumers can buy groceries from a grocer, purchase goods from the market, pay electricity bills or top up airtime with a simple code from M-Pesa. But, they’re not guaranteed to be able to do so outside of the country, region, or with international properties.



While many of the world’s largest digital merchants have started accepting mobile money payments, most international merchants still do not. This has meant that utilizing mobile money in the global commercial space is cumbersome, resulting in a gap between financial inclusion locally within the continent and access to the global financial system. Essentially, this means that individuals using mobile money can’t do things like make payments on an international airline’s website or pay for a Netflix account, small businesses can’t purchase ads on social media platforms like Facebook or search engines like Google, and content creators can’t get paid by the social media platforms they make content on.



Fortunately, card scheme payment rails have the ability to bridge that gap as cards continue to be the preferred payment method for consumers and merchants alike. That’s why it’s imperative to move beyond the idea that African economies will not adopt cards because of mobile money and instead look towards increased interoperability between mobile money wallets and card networks.



<h2 class="wp-block-heading" id="h-connecting-africa-to-itself-and-the-world">Connecting Africa to itself and the world</h2>



Much like the continent itself, the payments environment in Africa is highly dynamic and diverse. Across individuals and countries, payment types can vary significantly, resulting in a splintered and disconnected payment ecosystem. For example, when purchasing from Takealot in South Africa, consumers have the option to pay by credit card, an electronic fund transfer (EFT) from their bank or use domestic-flavored payment solutions such as PayFast, Ozow or Discovery Miles. However, international merchants or companies would have to integrate with each of these different payment service providers individually in every single economy on the continent in order to cater to a wide range of consumers, which is simply not feasible.



According to the <a href="https://www3.weforum.org/docs/WEF_Defining_and%20Measuring_Interoperability_2022.pdf">World Economic Forum</a>, the varied technical standards, laws and regulations that span countries across Africa contribute to the fact that historically many digital payment methods were closed loops and not interoperable with one another. Additionally, established mobile money interoperability in countries was usually limited to cases such as person-to-person transfers while merchant payments weren’t really considered.



But, advancements in payments interoperability technologies as well as strategic partnerships are facilitating the innovation needed to both achieve the desired convenience, speed and accessibility within the payments space while also enabling merchants to accept payments from and people to make payments to anyone .



Although before, people would need to transfer funds from their mobile wallet to a bank account and then use the bank-issued card to make a payment, this interoperability between the two legacy platforms—mobile wallet and card—means that both individuals and businesses are able to make direct payments by simply linking the two together.



Onafriq’s own partnership and subsequent acquisition of GTP, the number one processor for prepaid cards in Africa, in 2022 underscores the importance of card and mobile wallet interoperability by enabling participation in the global digital commerce environment, connecting traditional card scheme ecosystems such as Visa and Mastercard to the mobile money world.



Now, instead of a prefunded card where money can only be loaded on and not withdrawn, users can easily move money between their card and wallet. And, with digital cards, card networks can now be embedded directly onto the wallet app instead of carrying around a physical card. Even global players like Visa and Mastercard are realizing that the only way to be successful in Africa is to play hand in hand with mobile money clients and cater to their needs &#8211; as evidenced by Mastercard’s <a href="https://techpoint.africa/2024/02/06/mastercard-acquires-minority-stake-momo/">$200 million minority stake</a> in MTN’s fintech division.



<h2 class="wp-block-heading" id="h-making-borders-matter-less">Making borders matter less</h2>



As the world, and Africa, becomes more connected and digitalised, consumers are branching out in terms of where they’re purchasing goods from and merchants are catering to a more global customer base.



As such, African businesses and consumers alike should be able to make payments to any destination easily and through whichever payment channel they prefer. Cross-border payments need to become faster, cheaper, more transparent and accessible, while also ensuring their safety and security.



Payments interoperability between mobile money and cards will enable an ecosystem whereby you don’t need to link different payment methods, systems, and currencies to one another to ensure that no matter where you are, where you’re sending money to, or where you’re purchasing from, there is nothing standing in your way. Ultimately, ensuring that these different payment products are able to understand and speak to each other is enabling a more inclusive and accessible financial services landscape, making it as easy as possible for people to perform transactions in a way that is both affordable and reliable.

Interoperability between mobile money and card is enabling Africa’s access to the global financial system

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="2048" height="1670" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/IMG_0422-Edit-1-scaled.jpg" alt="" class="wp-image-513825" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/IMG_0422-Edit-1-scaled.jpg 2048w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/IMG_0422-Edit-1-300x245.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/IMG_0422-Edit-1-820x669.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/IMG_0422-Edit-1-110x90.jpg 110w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/IMG_0422-Edit-1-768x626.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/IMG_0422-Edit-1-1536x1253.jpg 1536w" sizes="auto, (max-width: 2048px) 100vw, 2048px" /><figcaption class="wp-element-caption">Hasan Khan, Standard Bank Group Head of Corporate and Investment Banking, Africa</figcaption></figure>



Africa is at a turning point; with a gross domestic product (GDP) nearing $3 trillion, the continent’s economic and development potential is undeniable. Contained in that growth is the burgeoning East Africa region where we see great potential for additional development.



The African Development Bank Group (AFDB) notes that East Africa is set to grow at a projected 5.1% in 2024 and 5.7% in 2025. The projected growth acceleration of 1.6% in 2024 from 3.5% in 2023 reflects the anticipated strong economic performance of countries in the region, with seven economies projected to grow 5% or more in 2024. The region has relatedly seen an increase in its contribution to the continent’s broader economic growth. According to the Institute for Security Studies (ISS), the region contributed 14% in 2018 and 17% in 2022. This is expected to grow to a projected 29% by 2040. &nbsp;&nbsp;



The East African economy has demonstrated remarkable resilience, buoyed by its diversification efforts, innovative spirit, and collaborative mindset. This region, a shiny jewel in the African crown, has invested heavily in infrastructure development through Public-Private Partnerships (PPPs). Through the concerted infrastructure investment, we have encouragingly seen a progressive move from traditional debt-led infrastructure projects to a joint approach that is cognisant of all parties. We also believe that this is the best way to ensure development that best serves the communities who benefit and use the infrastructure that is built.  In a recent example of this collaborative approach, Stanbic Bank Kenya, as part of the Standard Bank Group, along with MiDA Advisors, announced a partnership with Acorn Holdings, a renowned real estate developer, to facilitate a USD$700 million Kenya Shilling (KES) equivalent in long-term blended finance commitments for green, affordable student housing in Kenya. Upon approval, the transaction will comprise up to USD$180 million commitment from the United States Development Finance Corporation (DFC) and comprise raising funds from Kenyan Capital markets as well, deepening the positive impact of the transaction of the Kenyan Capital Markets and providing an opportunity for investors to participate in this opportunity. The collaboration will result in the construction of 35 certified green housing projects, creating approximately 48,000 new student beds over the next 10 years, making it the single largest investment into student housing in Africa. The initiative will create an estimated 15,000 direct jobs and 35,000 indirect jobs.



As the world seeks to transition to cleaner energy sources, East African countries have been actively utilising their rich natural endowments to harness renewable energy to&nbsp;meet their growing energy demands sustainably. Kenya, Tanzania, Uganda, and Rwanda have been at the forefront of developing&nbsp;solar and wind power over the last decade. It is estimated that by 2050, clean energy could generate over 26 million jobs in Africa.&nbsp;



Beyond the exciting developments in East Africa, the continent will account for eleven of the world’s twenty fastest-growing economies in 2024 according to the AFDB. Real GDP growth for the continent is expected to average 3.8% and 4.2% in 2024 and 2025, surpassing projected global averages of 2.9% and 3.2% respectively.



This makes Africa the fastest growing region after Asia.



In an increasingly fragmented globe experiencing upheaval across geographies, the continent’s influence is growing as traditional powerhouses turn their eyes to emerging markets. This is most notably marked by the African Union’s (AU) recent entry into the Group of 20 nations – now the G21 – a premier grouping of country and regional bloc members shaping international economic cooperation. Populated by the globe’s youngest demographic, Africa boasts the world’s largest free trade area, recently punctuated by the African Continental Free Trade Area (AfCFTA). This has been ratified in 30 countries across the continent. Africa also has vast mineral deposits and natural resources, positioning it favourably for a dominant role in the ever-increasing global energy transition. This transition, dependent on extractive industries, is marked through the growth of alternative energy solutions for electricity and the growing electronic vehicle market, which stands at $15.8 billion, and which is expected to grow to $21.4 billion by 2027, according to market research by Mordor Intelligence. As the continent has grown, so too has the complexity of the requirements for services. African start-ups reportedly raised approximately$1.5 billion during the COVID-19 pandemic in 2020, over $4 billion in 2021, and an estimated $4.5 billion in 2022.



These are fundamental leading indicators which position Africa as the next growth frontier with untapped potential and opportunities for investors looking for long-term diversified value.



In the past, Africa was often regarded as a <a>hegemonic entity </a>that worked and existed in a unitary way. I am certain you have heard some of the stereotypical phrases that accompanied this view, including the term “African economy”.



These views created misperceptions about the real market opportunities that exist on the continent and distorted the risks of doing business here. Certainly, like any intricate society, there are risks to doing business in many African countries, but this is not dissimilar to the reality of doing business in most emerging markets.



Through our insights, we are forging enduring partnerships with clients and governments to drive positive impact and help create the growth which we are slated to see. This includes expanding agri-processing to substituting imports with local content and subsequently championing the expert of soft commodities. Infrastructure is the key backbone for development, and we actively work with partners to invest in the expansion of ports, roads, and rail infrastructure to remove barriers to trade. At Standard Bank, we are not just in awe of the trajectory of this continent we call home, we are actively and passionately shaping it.

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Unleashing East Africa’s growth and tapping into the continent’s potential

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="2048" height="1353" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-476066998-scaled.jpg" alt="" class="wp-image-512888" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-476066998-scaled.jpg 2048w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-476066998-300x198.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-476066998-820x542.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-476066998-136x90.jpg 136w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-476066998-768x507.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-476066998-1536x1015.jpg 1536w" sizes="auto, (max-width: 2048px) 100vw, 2048px" /><figcaption class="wp-element-caption">Cranes and trucks get ready near a container ship on May 5, 2015 in the Doraleh harbour in Djibouti. AFP PHOTO / CARL DE SOUZA (Photo credit should read CARL DE SOUZA/AFP via Getty Images)</figcaption></figure>



In 2018, the Government of Djibouti forcibly seized Doraleh Container Terminal, a key gateway for trade in the Horn of Africa, a region of 140 million people.



Tribunals in multiple jurisdictions have all ruled in DP World’s favour.



However, the Government of Djibouti appears unmoved by negotiation or legal rulings.



Dubai, UAE, 26 July 2024: DP World welcomes the decision by a US court to enforce a $200 million award against the Government of Djibouti, giving it yet another win in its ongoing legal battle over the ilegal seizure of its concession to run a container terminal in the Red Sea country.



DP World filed the proceedings in the US courts last year, seeking to enforce a third partial award issued by the London Court of International Arbitration (LCIA) over the concession for the Doraleh Container Terminal (DCT). In a decision on Tuesday, the US District Court for the District of Columbia granted the unopposed petition to confirm the partial award issued in 2022.



DCT was seized arbitrarily by the local authorities in February 2018 after they claimed the agreement they had signed unfairly favoured DP World. Those claims were dismissed by judges and arbitrators both in the High Court in England, and before the LCIA.



Built and operated by DP World, the 1.2 million TEU terminal was when built widely recognised as the most advanced container terminal on the east coast of Africa, enabling safe, smooth and efficient movement of cargo in and out of the country. It remains Djibouti’s largest source of revenue and the country’s single biggest employer, responsible for creating thousands of jobs – both direct and indirect – for the local community. Under DP World, it operated at a profit every year.



A prolonged battle has ensued in courts in multiple jurisdictions, with every one finding in favour of DP World. Damages already awarded for lost dividends, breaches of exclusivity and management fees now amount to nearly $700 million.&nbsp; In the event of a total expropriation, DP World’s claim will exceed a further billion US dollars.



DP World has vowed never to stop its ongoing legal battle, until the return of its port concession in Djibouti or it receives full compensation for its lost investment.



A spokesperson for DP World said: “The authorities in Djibouti have repeatedly shown an utter contempt for the rule of law and the norms of good business, with no respect for legal agreements. Their actions are a warning to investors across the world who should think twice about the safety of their existing business in Djibouti and the future value of any new investments.&nbsp; Put simply, the Djibouti government is bad for business.”



DP World has been in Africa for 20 years – investing in critical infrastructure to enable trade. In Sub-Saharan Africa, it employs more than 27,000 people across 48 countries, with a total container handling capacity of over 2 million TEUs year in Somaliland, Senegal, Angola and Mozambique.

DJIBOUTI-ECONOMY-TRANSPORT

US court enforces $200M award against government of Djibouti over illegal port seizure

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="1920" height="1280" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/thumbnail_IMG_3884-1.jpg" alt="" class="wp-image-508988" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/thumbnail_IMG_3884-1.jpg 1920w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/thumbnail_IMG_3884-1-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/thumbnail_IMG_3884-1-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/thumbnail_IMG_3884-1-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/thumbnail_IMG_3884-1-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/thumbnail_IMG_3884-1-1536x1024.jpg 1536w" sizes="auto, (max-width: 1920px) 100vw, 1920px" /><figcaption class="wp-element-caption">Bill Blackie, CEO of Business &amp; Commercial Banking, Standard Bank Group</figcaption></figure>



More needs to be done to stimulate the growth of small, medium, and micro enterprises (SMEs), as well as boost intra-African trade, for the continent’s huge potential to be unlocked, Bill Blackie, CEO of Business and Commercial Banking at Standard Bank told over 200 delegates at the inaugural Standard Bank Business and Commercial Banking Conference which took place in Cape Town on 11 and 12 July. 



“We see significant opportunities in East Africa in particular,” Blackie said, where growth rates of 5% are predicted for this year. “We believe all the 20 African countries in which the Group has a presence in West, Southern and East Africa have the potential to grow further.”



<h2 class="wp-block-heading" id="h-afro-optimism">Afro-optimism</h2>



One of the reasons underpinning his optimism is the rapid growth rate predicted for Africa’s population, as well as the fact that Africa has the highest percentage of young people that will bring with it robust and inclusive growth. “However, for us to take advantage of this youth dividend, we need to develop the skills of Africa’s young people,” he added.



Sharing a similarly positive view of the future, Adrian Basson, CEO of Hungry Lion, said Africa’s population is set to quadruple from one billion today to four billion in 2100. “If you ran a fast-food business in Japan, would you want to be operating in a country where the population is set to decline from 120 million to 80 million in the next few decades or would you rather see your customer base grow, as in Africa?” Even though Africans may not have as much discretionary spending, the growth trajectory is in the continent’s favour, he said, especially as most of the population’s growth will be among the working class.



<h2 class="wp-block-heading" id="h-greater-regional-integration">Greater regional integration</h2>



On the topic of regional integration, more should be done to spur intra-African trade, which despite the establishment of the African Continental Free Trade Area in 2019, only accounts for 15% of overall trade in Africa, Standard Bank CEO Sim Tshabalala said. “We need to develop a pan-African payment system which will facilitate the movement of goods. It does not make sense to be paying in dollars when businesses can be paying in local currency.”



A firm believer in “action at the speed of thought,” Basson said small- and medium-sized enterprises (SMEs) need to translate their ideas into action more quickly and remove obstacles to innovate. This nimbleness is reflected in the increasing levels of urbanisation among the continent’s population and the shift in demographics in favour of younger people.



As testament to the power of youth, Kenya has recently seen a vibrant youth movement rise and its parliament back-tracking because of the opposition of young voters to a controversial bill which sought to hike taxes, asserted Patrick Mwhierhe, Regional Chief Executive East Africa at the Standard Bank Group. “Young people took to social media to protest, and their voices were heard,” he said. “They were effectively telling government they do not want to be given a job. They just want the government to get out of their way by creating an enabling environment for them to create their own jobs.” This clearly indicates the embodiment of the spirit of a generation poised to redefine the economic future of their nation.



Basson said the next 76 years will be an exciting time to be doing business in Africa. “By 2100, 40% of the world’s population will be African,” he said, “most of whom will be of working age.” This contrasted sharply with other regions like Europe, the US and Asia whose populations by 2100 will be ageing. “There’s no reason why Africa can’t become the economic engine for the rest of the world just as China did,” he said.



<h2 class="wp-block-heading" id="h-energy-and-infrastructure">Energy and infrastructure</h2>



Another reason to be optimistic about Africa’s future is its untapped energy potential, Blackie said, which includes both fossil fuels and renewable energy, such as solar, wind and hydro energy. “We aim to invest R250 billion in renewable energy projects in Africa over the next few years,” he stated. “Without energy, economic growth is not possible, which is why we are focusing on energy and sustainability for growth.”



In addition to removing trade barriers and investing in energy projects, Blackie said Standard Bank was encouraged by the higher levels of infrastructure spending in Africa. “Every country I have visited on the continent recently is spending money on improving infrastructure, be it on improving roads, ports, or airports. This is another fundamental lever for growth.”



<h2 class="wp-block-heading" id="h-local-procurement-and-sme-growth">Local procurement and SME growth</h2>



Africa should focus on getting a greater slice of the global economic pie and conquer its biggest challenge: creating jobs, Basson said. “Rather than figuring out how to move goods across borders, businesses should source local suppliers,” he stated. “In Zambia, 97% of our supplies are locally procured.”



For African economies to grow, SMEs need to flourish, said Simone Cooper, Head of Business and Commercial Banking at Standard Bank. “In the face of significant challenges, SMEs continue to be the backbone of most African economies, accounting for 60% of jobs in sub-Saharan Africa and playing a crucial role in community upliftment.”



Blackie concurred. “As a bank, we act as an intermediator to help finance businesses, but entrepreneurs are what drive economic growth,” he said. “It’s the entrepreneurs who see the gaps, connect the dots and venture where others fear to tread, so that opportunities can be unlocked and converted into tangible possibilities.”

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Focus on small-business growth to unlock Africa’s potential

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/wmp-9109-820x547.jpg" alt="" class="wp-image-508505" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/wmp-9109-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/wmp-9109-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/wmp-9109-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/wmp-9109-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/wmp-9109-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/wmp-9109-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Rassem Zok &#8211; Chief Executive, Middle East, Standard Bank Group</figcaption></figure>



Africa has made significant progress in terms of infrastructure development, committing billions of dollars to improve its transportation, energy, water, and digital networks. This infrastructure boom is crucial for boosting economic growth, creating jobs, and reducing poverty across the continent. With the right investments and reforms, Africa can build the modern infrastructure needed to boost trade, create jobs, and transform the continent&#8217;s economic prospects.



Yet current investment still falls far short of demand. According to the African Development Bank, the continent has a $100 billion annual shortfall in infrastructure financing. This infrastructure gap is not only impacting lives today, but also significantly curtailing the continent’s potential for economic, entrepreneurial, and developmental progress. The African Union estimates that inadequate infrastructure has led to the reduction of national economic growth by 2% annually in most African countries and as much as 40% reduction in industrial productivity.



If we manage to close this gap, we unlock the immense potential of infrastructure – and especially sustainable infrastructure – to drive growth and development on the continent. There is a real desire amongst state-owned companies (SOCs) to do so, and an increasing awareness amongst investors of the alignment of interests that opportunities in African infrastructure represent.



We have noticed, in particular that Gulf Cooperation Council (GCC) countries have stepped up their investments in Africa as they look to diversify their own economies. The GCC&#8217;s strategic policy priorities and economic diversification interests align perfectly with the opportunity to support Africa&#8217;s development agenda, and the GCC is equipped with the technical expertise and financial resources necessary to bridge Africa’s investment gap through innovative public-private partnerships (PPPs).



Over the past decade, the GCC has emerged as a major investor across Africa, with a growing number of trade deals finalised that significantly benefit both regions. Dubai is increasingly establishing itself as the gateway to African investment. Investing in Africa, and developing relationships with SOCs and financial institutions, allows GCC nations to access new markets, expand business operations, and secure access to abundant natural resources. The GCC states generally have superb relationships with many of the 20 countries in which our Group has a universal presence, which is an important foundation for the development of effective PPPs and direct investment projects.



&nbsp;Iconic transactions of late include the acquisition of Imperial Logistics, a South African logistics operator, by DP World, the global infrastructure-led supply chain solutions provider based in Dubai. As a result of this transaction, DP World gained a stronger foothold in Africa and Imperial Logistics benefitted from DP World&#8217;s leading technology, global networks, and key trade-lane volumes. It’s a win for DP World and Imperial Logistics – the two are clients of the bank.



Another success has been our partnership with DP World to offer trade finance solutions to African SMEs, which will help in closing the gap in unmet demand for working capital on the continent. This partnership reflects our strategic vision of driving Africa’s growth, and is a demonstration of our commitment, as Africa’s largest bank, to the transition of financial services to platform-based ecosystems and to the improvement of client experiences.



ESG and the broad-scale sustainable impact of our work is a key focus area for Standard Bank, and this aligns with the appetitive for sustainability that we’ve seen from the UAE. UAE investors are sophisticated supporters of the vision of more circular economies and are making a demonstrable impact in enabling a just transition for the continent.



Spurred by the benefits of economic diversification, GCC countries are actively investing in high-growth sectors such as clean energy, manufacturing, and logistics, while also committing to sustainable development projects including food and water security. Against this backdrop, the opportunities in African infrastructure align seamlessly with the GCC states&#8217; multi-sectoral investment appetite.



We have, for the past four years, facilitated the State-Owned Company Investment Summit, which introduces large sovereign-owned companies to investors from the MENA region. Each year we record tangible, significant successes as a result of the summit.



It was as a result of last year’s Investment Summit that Standard Bank was able to facilitate a unique syndication facility for the Development Bank of Southern Africa in the UAE. The US$255 million facility was the first of its kind to be successfully accessed by a South African state-owned entity in the UAE and broader Middle East/North Africa (MENA) markets, representing a milestone for both DBSA and for South African fundraising initiatives in the UAE.



Standard Bank and UAE-based Mashreq were joint lead mandated arrangers in a deal which was oversubscribed, demonstrating significant market interest from UAE investors and the MENA broader region. The DBSA mandated Standard Bank to act as the mandated lead arranger to anchor and raise US dollar liquidity to diversify its global investor base.



Standard Bank is actively involved in supporting effective PPPs by demonstrating the economic value that derives from these projects, and through the rigorous governance structures that we’ve optimised. Risk is managed through an end-to-end process that takes deep cognisance of the value chains that are required for doing business in Africa, and which gives our partners comfort and security and the confidence to engage in these beneficial transactions.



There is nothing exceptional in terms of the risk projects face in Africa. What is unique is the degree to which local knowledge is able to ameliorate risk. In more mature markets, there isn’t the same degree of guidance required. In Africa, an experienced hand guiding the process is far more valuable.



Doing business in Africa requires an understanding of cultural sensitivities and experience as to what works. Africa is not a country: it is a continent made up of 54 disparate nations with unique operating environments. Our continental expertise is born of on-the-ground experience and a commitment to innovative, world-leading funding and risk-management solutions.



We believe in Africa, and we&#8217;re committed to its success. The vast proportion of our balance sheet is deployed in Africa. We have 50 000 experienced, knowledgeable staff who drive our return on equity. We have a universal presence in 20 African countries. We have offices in Dubai, Beijing, London and New York, and expect our new representative office to be opened in Egypt by year end. This will allow us to capitalise on the significant emergence of the Gulf–sub-Saharan-Africa–Egypt corridors, and further support our clients in those corridors.



The future looks bright for the cross-border opportunities available across Africa. As the largest bank in Africa, our largest stakeholder, in a sense, is the continent itself. That awareness drives our partnerships with multinationals, regional corporates, state structures and sovereign funds to enable cross-border flows – because they are critical catalysts of African growth and significant opportunities for value creation.

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Unlocking continental potential: The importance of local knowledge in African infrastructure investment

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="2048" height="1365" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/240709_HM-At-Mastercard-Foundation-EdTech-Conference-2024-Day-2-4498-scaled.jpg" alt="" class="wp-image-508128" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/240709_HM-At-Mastercard-Foundation-EdTech-Conference-2024-Day-2-4498-scaled.jpg 2048w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/240709_HM-At-Mastercard-Foundation-EdTech-Conference-2024-Day-2-4498-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/240709_HM-At-Mastercard-Foundation-EdTech-Conference-2024-Day-2-4498-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/240709_HM-At-Mastercard-Foundation-EdTech-Conference-2024-Day-2-4498-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/240709_HM-At-Mastercard-Foundation-EdTech-Conference-2024-Day-2-4498-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/240709_HM-At-Mastercard-Foundation-EdTech-Conference-2024-Day-2-4498-1536x1024.jpg 1536w" sizes="auto, (max-width: 2048px) 100vw, 2048px" /></figure>



Abuja, Nigeria, July 15, 2024 – About 600 stakeholders from over 30 countries in Africa and beyond came together from July 8 to 10 at the inaugural Mastercard Foundation EdTech Conference in Abuja, Nigeria, to discuss education technology for resilient and inclusive learning in Africa. Participants reached a consensus that integrating technology into learning systems in Africa is now a necessity, not a luxury.



Hosted in partnership with the Federal Government of Nigeria, the conference concluded with a collective call to action on 10 recommendations for governments and other EdTech stakeholders.



“Investing in education in Africa is not only about Africa; rather, it is about investing in human capital for the world. It is also about building resilience in our learning systems to better prepare us for future shocks such as the recent COVID-19 pandemic. This is why the Mastercard Foundation is committed to working with partners to scale education initiatives and enable innovations that foster the integration of technology into learning systems,” Peter Materu, Chief Program Officer at the Mastercard Foundation, told participants while underscoring education as the key to building an inclusive and resilient society and the urgent need for investments in education to skill Africa’s young people.



Nigeria’s Federal Minister of Education, Prof. Tahir Mamman, stated, &#8220;technology isn’t just a tool; it is a powerful incentive that empowers students and ignites their passion for learning.”



“Inclusion is the cornerstone of EdTech,” added Dr. Bosun Tijani, Nigeria’s Federal Minister of Communications, Innovation and Digital Economy. “If we fail to reach all learners, we fail to fulfill our potential to revolutionize education.”



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="2048" height="1345" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/240708_HM-At-Mastercard-Foundation-Edtech-3332-1-scaled.jpg" alt="" class="wp-image-508129" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/240708_HM-At-Mastercard-Foundation-Edtech-3332-1-scaled.jpg 2048w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/240708_HM-At-Mastercard-Foundation-Edtech-3332-1-300x197.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/240708_HM-At-Mastercard-Foundation-Edtech-3332-1-820x539.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/240708_HM-At-Mastercard-Foundation-Edtech-3332-1-137x90.jpg 137w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/240708_HM-At-Mastercard-Foundation-Edtech-3332-1-768x504.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/240708_HM-At-Mastercard-Foundation-Edtech-3332-1-1536x1009.jpg 1536w" sizes="auto, (max-width: 2048px) 100vw, 2048px" /></figure>



Participants proposed the following recommendations as guidance to national decision-making to advance the building of an impactful EdTech ecosystem in Africa.



<ol class="wp-block-list">
<li>Champion local innovation through supportive EdTech policies, with governments as leaders, proactive enablers, and consumers of quality content and delivery mechanisms.</li>



<li>Harmonize cross-sector policy by coordinating inter-ministerial strategies, plans, and initiatives on technology-enabled access to education for all.</li>



<li>Underwrite foundational infrastructure through creative use of resources such as Universal Service Funds to invest in electricity, the internet, devices, and dedicated infrastructure for education programs.</li>



<li>Drive decisions with data by investing in government systems and capabilities for timely collection, analysis, and informed decision-making.</li>



<li>Enhance delivery capacity along the EdTech value chain by upskilling teachers to deliver learning using EdTech and supporting leaders in education systems to work with tech-enabled processes and data.</li>



<li>Systematize EdTech integration by introducing (where nonexistent) and enforcing clear, context-relevant standards for technology integration into the educational curriculum.</li>



<li>Guide context-relevant innovation with clear and timely guidelines and approval processes for content, tools, and licenses to encourage innovation, investment, and technology mainstreaming.</li>



<li>Diversify learning pathways for out-of-school youth by developing flexible technology-enabled alternatives for learning, accredited certification, and re-entry to the formal education system.</li>



<li>Lower access barriers to EdTech through strategic private-public partnerships that support responsive, evidence-based policy and affordable solutions for all.</li>



<li>Embed responsive inclusivity (gender equity, persons with disabilities and refugees and displaced persons) in policy and innovation processes, centering and engaging diverse young people throughout development and delivery.</li>
</ol>



Referencing the African Union’s 2024 Year of Education, discussions at the conference focused on the state of EdTech in Africa, assessment of technology-enabled solutions to the continent’s education challenges, data evidence, collaborations, funding, and opportunities to tap into emerging technologies to accelerate the skilling of young people, particularly young women.



Dr. Jamila Bio Ibrahim, Nigeria’s Federal Minister of Youth Development, emphasized the need to prioritize inclusiveness in education reform. “All voices, especially voices of young women, need to be included in the formulation of policies for them to be effective,” she noted.



The African Union’s Special Youth Envoy, Chido Mpemba, noted that “accessible innovations can be global in outlook while also being deeply rooted in the needs of Africa’s young population.”



African-led EdTech entrepreneurs exhibited their solutions at the conference to demonstrate how efforts to encourage impactful education innovation can deliver the future of learning.



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="2048" height="1365" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/240709_HM-At-Mastercard-Foundation-EdTech-Conference-2024-Day-2-3991-3-scaled.jpg" alt="" class="wp-image-508134" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/240709_HM-At-Mastercard-Foundation-EdTech-Conference-2024-Day-2-3991-3-scaled.jpg 2048w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/240709_HM-At-Mastercard-Foundation-EdTech-Conference-2024-Day-2-3991-3-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/240709_HM-At-Mastercard-Foundation-EdTech-Conference-2024-Day-2-3991-3-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/240709_HM-At-Mastercard-Foundation-EdTech-Conference-2024-Day-2-3991-3-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/240709_HM-At-Mastercard-Foundation-EdTech-Conference-2024-Day-2-3991-3-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/240709_HM-At-Mastercard-Foundation-EdTech-Conference-2024-Day-2-3991-3-1536x1024.jpg 1536w" sizes="auto, (max-width: 2048px) 100vw, 2048px" /></figure>



The recommendations from the conference were shared at the 3rd Ministerial Forum on EdTech in Africa, which took place at the conclusion of the conference. Three of the recommendations were prioritized for concrete action between now and the next Forum:



⦁ Developing strategies and policies to integrate EdTech into learning systems. ⦁ The need to enhance quality education data and accompanying analytical skills for evidence-based decision-making. ⦁ Addressing the challenge of out-of-school children and youth in Africa, which currently stands at 108m and is growing.



Through its Centre for Innovative Teaching and Learning, the Mastercard Foundation strategically partners to foster innovation, share best practices, conduct research, and convene events such as the EdTech Conference to advance inclusive education, especially for underserved learners. Speaking about the recently concluded conference in Abuja, Joseph Nsengimana, the Director of the Mastercard Foundation Centre for Innovative Teaching and Learning, said, “The collective commitment to advancing education through the power of technology promises to significantly transform the educational landscape, ensuring that Africa&#8217;s youth are well-equipped for the future.”



The next EdTech Conference is planned for 2026, the year the Mastercard Foundation marks its 20th anniversary.

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Mastercard Foundation EdTech Conference in Abuja Ends with 10 Recommendations for Delivering the Future of Learning in Africa

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McDonald’s South Africa and its suppliers emphasized their transparency journey, aimed at educating customers about the quality and sustainable sourcing of its food.



The customer of today is increasingly interested in where their food comes from, what is in it and how it is prepared. These questions are easily answered when the food is prepared by them in their homes but this is nearly impossible when it’s not.



Food consciousness continues to influence market maturity amongst customers who have shifted from the narrative of aesthetically-pleasing food to a more responsible consumer outlook.



This trend, which has given rise to heightened individual senses of responsibility when it comes to where food comes from, means that customers now care more about the value chain and what goes into their meals. Factors such as sustainability, sourcing, farming techniques, packaging and the actual nature of the ingredients continue to be heightened and influence where customers buy their meals.



“We are cognisant of our customers&#8217; needs. Increasingly, our customers are very discerning about the food they consume. They want transparency and more information to make informed food choices. Through Know Our Food, we hope to demonstrate our pride in the food we serve to them,” says Daniel Padiachy, Chief Marketing Officer at McDonald’s South Africa.



“Our top priority is serving customers great-tasting, quality food. We believe in serving food in a way that supports quality ingredients, as well as sourcing beef, chicken and fresh produce from farmers who share the same values as we do.”



McDonald’s sources from, invests and collaborates with partners and suppliers who align with these values, while supporting projects and initiatives designed to help build a thriving, resilient food system.



Here are just a few of the supplier partnerships:



<ul class="wp-block-list">
<li>Beef is sourced from beef farmers in South Africa, such as the Fouries, who are committed to ethical and sustainable farming practices.</li>



<li>The Rametses are one of the nurturing chicken farmers who provide great quality chicken for the much-loved McDonald’s chicken meals.</li>



<li>McDonald’s takes its coffee seriously – from it’s sourced to how it’s brewed. That’s why every freshly-ground McCafé® coffee uses 100% responsibly-sourced Arabica beans grown on Rainforest Alliance Certified™ farms.</li>
</ul>



“‘Know Our Food’ represents our on-going commitment to transparency and customer satisfaction; we want our customers to feel confident about the food choices they make at McDonald’s, knowing that we prioritize quality, food safety, transparency, and responsible sourcing,” concludes Padiachy.



To learn more about the McDonald’s ‘Know Our Food’ initiative, please visit <a href="http://www.knowourfood.co.za">www.knowourfood.co.za</a>.

How A Fast Food Giant Is Demonstrating Pride In The Food They Serve

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Ghana to Regain Momentum in 2025 as ECOWAS Gateway

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="528" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/06/logo-820x528.jpg" alt="" class="wp-image-501178" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/06/logo-820x528.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/logo-300x193.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/logo-140x90.jpg 140w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/logo-768x495.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/logo.jpg 1080w" sizes="auto, (max-width: 820px) 100vw, 820px" /></figure>



The University of Johannesburg (UJ) is now ranked number one in South Africa and on the African continent among universities that are younger than 50 years worldwide, according to the latest&nbsp;<a href="https://www.timeshighereducation.com/world-university-rankings/2024/young-university-rankings" target="_blank" rel="noreferrer noopener">Times Higher Education (THE) Young University Rankings</a>,&nbsp;released on May 14, 2024. UJ has also achieved its highest-ever position, soaring to 60th place among universities in the same category.



<h2 class="wp-block-heading" id="h-huge-improvement">Huge improvement</h2>



This marks a significant leap from the university’s previous ranking in the 151-200 band, demonstrating its relentless commitment to student success, cutting-edge research and societal impact.



UJ also claimed the top spot in Africa and South Africa, reaffirming its standing in the region. The&nbsp;<a href="https://www.timeshighereducation.com/world-university-rankings/2024/young-university-rankings" target="_blank" rel="noreferrer noopener">THE Young University Rankings</a>&nbsp;assess universities across key pillars including teaching, research, knowledge transfer, and international outlook, providing a comprehensive evaluation of institutional performance.



The 2024 ranking includes 673 universities, up from 605 in 2023. A further 499 institutions are listed with “reporter” status, meaning that they provided data but did not meet our eligibility criteria to receive a rank.



<h2 class="wp-block-heading" id="h-global-excellence">Global excellence</h2>



This recognition of UJ by&nbsp;<a href="https://www.timeshighereducation.com/world-university-rankings/2024/young-university-rankings" target="_blank" rel="noreferrer noopener">THE Young University Rankings</a>&nbsp;highlights the university’s rapid growth and outstanding potential in the global academic arena. Despite its relatively short history of 20 years of existence, UJ has demonstrated exceptional progress, challenging well-established institutions, some of which have more than a century of legacy.



In addition to its remarkable performance in the&nbsp;<a href="https://www.timeshighereducation.com/world-university-rankings/2024/young-university-rankings" target="_blank" rel="noreferrer noopener">THE rankings</a>, UJ has also secured a notable global position of 624 in the&nbsp;<a href="https://cwur.org/2024.php" target="_blank" rel="noreferrer noopener">Center for World University Rankings (CWUR)</a>&nbsp;for 2024. With a staggering 20,966 institutions evaluated for the 2024 edition of the CWUR, this assessment stands as one of the largest academic rankings of global universities.



Only the top 2,000 institutions from this rigorous evaluation attained a coveted spot on the published global list. &nbsp;UJ’s consistent upward trajectory in the CWUR reinforces its status as a premier educational institution in South Africa and beyond.



Professor Letlhokwa George Mpedi, Vice-Chancellor and Principal of UJ, expressed his delight in the University’s latest achievements.



“These rankings are a testament to the dedication and hard work of our faculty, staff, and students. UJ remains resolute in its mission to deliver world-class education, drive impactful research and innovation that contributes to societal advancement,” he says.



“Our progress is not just about numbers and figures; it’s all about the positive and lasting impact we have on our students and the broader society.”



<a href="https://uj.ac.za/possibilities/">Learn more</a> about UJ here.

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The University of Johannesburg Celebrates Rise In Global Rankings

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At its annual customer engagement and thought leadership conference in Southern Africa, the Mastercard Indaba 2024, Gabriel Swanepoel, Country Manager for Southern Africa at Mastercard, sheds light on the technological advancements and economic evolution shaping the continent. Swanepoel highlights Mastercard’s commitment to utilizing technology to enhance cybersecurity, support SMEs, and drive financial inclusion across Africa.



As the digital landscape in Africa continues to transform and evolve, challenges like cybersecurity and customer experience become increasingly critical. Swanepoel highlights the importance of deploying fit-for-purpose technology to ensure safety and efficiency in digital transactions.



“We live in a world that is more interconnected than ever. But the reality of it is that we are also more exposed to bad actors. Mastercard’s commitment is to ensure the financial safety of all stakeholders operating within the ecosystem by innovating tools that facilitate secure and easy transactions—this is crucial for both merchants and consumers alike,” Swanepoel explains.



“The key to growth is access,” &nbsp;Swanepoel states as he talks about Mastercard’s approach to enabling SMEs who contribute almost half of Africa’s GDP, yet face a multi-billion-dollar financing gap in the cash economy.



“We believe in the entrepreneurial spirit of small businesses that embrace opportunities, provide livelihoods, and support communities across Africa. That’s why we are using our technology, expertise, and partnerships to empower every business everywhere to grow digitally, and succeed in a more connected and inclusive world,” he states.



Mastercard’s operations in South Africa, which has an estimated 2.6 &nbsp;million micro, small and medium enterprises, has grown significantly. “If you look at the numbers from 2021 up until the end of 2023, the card acceptance rate has grown significantly. That is testament to the innovation and deployment of technology that enables the types of transactions that satisfy consumers but also serve merchants.”



Mastercard’s efforts, however, go beyond payment solutions. The global technology leader is committed to helping SMEs get paid, get capital and get digital – safely and securely – wherever they are. Through collaboration with local governments, fintech companies, and startups, Mastercard is scaling solutions that impact the region’s financial ecosystem. “We are building a community of stakeholders who can act together, make a difference, and drive sustainable, lasting impact,” Swanepoel states.



Mastercard’s vision for Africa also involves enhancing digital infrastructure to support the continent’s growing need for seamless digital transactions. With innovations like tokenization, the company enables consumers to make payments using any device, thus supporting the growing new generation of digitally native consumers. “The proliferation of mobile phones across the continent and the expansion of infrastructure with low-cost point-of-sale devices enable us to provide value and support economies on their digitization journey,” he says.



Cross border remittances are another critical area where Mastercard is making strides. By opening up intra-Africa corridors, Mastercard allows people to send money quickly and efficiently across borders. “For example, if you are a Zimbabwean living in South Africa, you can easily send money back home to your family, who can collect the funds within 30 minutes,” Swanepoel explains.



Mastercard’s commitment to Africa is not just about technology—it’s about empowering communities and creating opportunities for future generations. “Mastercard is in Africa for Africa. By fostering innovation, partnerships, and digital transformation, we aim to drive sustainable, inclusive growth across the continent,” Swanepoel states.

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Connecting Africa: How Mastercard is transforming the continent’s digital economy

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/06/Ed-McLaughlin-2-820x547.jpg" alt="" class="wp-image-498839" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/06/Ed-McLaughlin-2-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/Ed-McLaughlin-2-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/Ed-McLaughlin-2-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/Ed-McLaughlin-2-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/Ed-McLaughlin-2-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/Ed-McLaughlin-2-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Ed McLaughlin, President and Chief Technology Officer at Mastercard</figcaption></figure>



Ed McLaughlin, President and Chief Technology Officer at Mastercard, shares insights on the company’s commitment to leveraging technology to foster financial inclusion, enhance cybersecurity, and secure transactions across Africa.



With the rapid transformation of the digital landscape, Mastercard is adapting and innovating to meet the changing needs of consumers. McLaughlin emphasizes that the company’s primary focus is on connecting people in new and meaningful ways.



“We are in a time of tremendous change, particularly in technology. But what’s most important is how we can bring that change to market and to our consumers,” McLaughlin notes. Mastercard is driving this change through contextual commerce, blending the physical and digital worlds to create new capabilities and opportunities for financial inclusion.



One of the key elements in the payments industry is trust, particularly in regions with evolving financial landscapes like Africa. McLaughlin discusses the importance of cybersecurity in building and maintaining this trust. “Trust is essential for doing business, especially in changing markets within the electronic realm. Mastercard has invested over US$7 billion in the last five years to build security systems that ensure reliability for end consumers,” he explains. This investment has led to significant advancements in endpoint defense, encryption, and AI-driven fraud prevention, stopping over $20 billion in fraud last year alone.



McLaughlin highlights that consumers using Mastercard have zero liability for fraud, reinforcing the company’s commitment to secure and trustworthy transactions. This foundation of trust enables Mastercard to introduce innovative technologies that enhance user experiences and expand financial inclusion.



Africa is at the forefront of some of the most exciting technological advancements, and Mastercard is actively implementing these innovations to benefit the continent. McLaughlin expresses his enthusiasm for the region’s mobile money offerings and the potential of AI to deliver personalized experiences while protecting against fraud. “Some of the most exciting technologies we’ve seen are in Africa because a lot of that development is happening here first,” he says. Mastercard’s initiatives in Southern Africa aim to increase the reliability and speed of financial processes, leveraging powerful AI techniques to unlock new opportunities.



McLaughlin underscores the importance of building a secure digital ecosystem that supports financial inclusion, emphasizing that as more people and businesses are integrated into the digital economy, it is crucial to protect them. “We can’t put vulnerable populations at risk – it is important not to put the full burden of security on their shoulders,” he states. Ensuring that the most vulnerable are shielded from the consequences of weak security and fraud prevention tools is essential to maintaining trust and advancing financial inclusion efforts.



Mastercard’s focus is on building a digital economy that is secure, inclusive, and innovative. It is what guides the company’s mission to integrate 1 billion people – and 50 million micro and small businesses – into the digital economy by 2025. “We’re building a community of stakeholders who can act together, make a difference, and drive sustainable, lasting impact,” McLaughlin states.



Mastercard’s collaborative approach is evident in partnerships like with MTN, which connects local entrepreneurs with data analytics and payments tools, and drives financial and digital literacy across Africa. Additionally, Mastercard’s recent infrastructure investments in South Africa aim to modernize the payments industry and enable local processing, further supporting the region’s digital transformation.



As the fintech landscape in Africa continues to evolve, Mastercard remains committed to co-creating solutions that integrate seamlessly into digital ecosystems. The company’s Start Path program supports fintech startups like Nigerian company Duplo, which simplifies business-to-business payments. By leveraging AI, machine learning, and biometrics, Mastercard ensures that commerce thrives and trust is built within the digital economy.



This year, Mastercard marks 50 years of operations in Africa. Through these five decades, the company has connected millions of people and businesses to the digital economy, and introduced numerous solutions to help drive commerce and secure transactions.



As Mastercard celebrates its milestones in Africa and looks toward the future, the company is more committed than ever to its mission of creating a more inclusive digital economy that benefits all Africans. “I believe that Africa will continue to grow and prosper, with a much-expanded, more inclusive digital economy that will have risen to meet its potential. Now is the time to drive digital infrastructure and enable the enablers that can scale financial access and foster economic growth,” McLaughlin concludes.

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Mastercard’s vision for Africa: Connecting communities through innovation and trust

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What a privilege to have been part of the 2024 WomenLift Health Global Conference! It was an honor to have over 1,000 delegates from more than 40 countries. I <a>can’t</a> capture all my observations and learnings in a short article, but here are some highlights:



First, what delighted me. The warmth and the joy of human connection in our global health community. Seeing women and men allies bond across disciplines, sectors, backgrounds, and lived experiences. Dancing in a room full of women and men allies after three days of listening, learning, and sharing.&nbsp;



Second, what made me reflect. These are my top takeaways from three days of plenaries, sessions, and workshops.



<ol class="wp-block-list">
<li>Unpack the jargon. We think <a>we’re</a> saying one thing, but the recipients of our words might either tune us out or hear an entirely different thing. What do words like “empowerment,” “<a href="https://www.vox.com/the-highlight/2019/5/20/18542843/intersectionality-conservatism-law-race-gender-discrimination">intersectionality</a>,” and “<a href="https://www.samhsa.gov/dtac/disaster-planners/diversity-equity-inclusion/key-dei-terms">Diversity, Equity, and Inclusion</a>” really mean? How much gets lost in translation when working across disciplines, languages, and cultures? Do we care more about impressing our readers or about getting <a href="https://apolitical.co/solution-articles/en/for-clear-communication-cut-the-jargon">the heart of our message across</a>?</li>
</ol>



<ul class="wp-block-list">
<li>Build bridges. How do we balance <a href="https://www.thelancet.com/journals/lansea/article/PIIS2772-3682(23)00099-9/fulltext">local and global</a> initiatives? We need leaders and organizations with a global focus to understand and respect the power and expertise of those who get the local or regional context. <a>Perhaps we</a> also need to find new ways for leaders around the globe to <a href="https://www.youtube.com/watch?v=12bSY66PZuU">work together</a> and share learnings. <a>Perhaps this</a> needs to happen in a context where no one is trying to “save” anyone. <a>Maybe we</a> would all benefit from creating systems for equitable collaboration and partnership. Does the flow of ideas always have to be subject to the flow of money? Is it naïve to imagine otherwise?</li>
</ul>



<ul class="wp-block-list">
<li>Culture is the key. Policy change is important, and we should invest in it. But unless we change the culture of organizations and society at large, we will not see paradigm shifts. So, how do we do this? Culture is built by people. It starts with buy-in at the top, but for it to be ingrained into the DNA of an organization, it must pervade through every level. To me, the critical question is: how do we <a href="https://www.womenlifthealth.org/article/role-of-leadership-in-achieving-gender-equality-and-health-for-all/">invest</a> in our people? How do we ensure that people—at every level—are consistently informing, sustaining, and leading the evolution of our culture, no matter who is at the top?</li>
</ul>



<ul class="wp-block-list">
<li>We need to talk about caregiving. Caregiving is unofficially built into many women’s lives. An example is the idea of the “<a href="https://youtu.be/pDVW7EAlUEo?si=tM0shX5FdkVm2yc1">sandwich generation</a>”: many working adults end up being caregivers of both their children and their parents. They are not only working parents, but also working children. I found myself in this very place in 2019, with a 2-year-old child and a father dying of cancer. I was wracked with the guilt that I was not doing enough for either of them, despite working in the most enabling environment possible and having the strongest ally one could have in a life partner. What is it like for those who have no institutional or familial support?</li>
</ul>



<ul class="wp-block-list">
<li>Everyone needs emotional intelligence training. Emotional intelligence is much more than a skill or tool—it is fundamental to being a good human and a good leader. Fortunately, it can be learned, and <a>it’s</a> never too late. The alumna- and partner-led emotional intelligence workshop at the conference was incredibly well attended. Panelists in other sessions also expressed how important it is for men to cultivate emotional intelligence, so that they can not only become better allies to women but also do the same for each other.&nbsp;</li>
</ul>



<ul class="wp-block-list">
<li>Reframe the ideal professional and ideal mother.</li>
</ul>



What is an “ideal professional”? Is she someone who works on nights and weekends, answers every email within 24 hours, and responds to all messages within an hour?



What is an “ideal mother”? Is she someone who stays at home, cooks every meal, attends all school events, and drives her kid to as many extracurricular activities as possible?



Women are expected to be ideal professionals while taking care of their children and elderly parents.&nbsp;Women are expected to be ideal mothers and caretakers while working a full- or part-time job.&nbsp;



Oy, I am exhausted from just writing this!



How can anyone live up to these unattainable standards? What role can institutional leaders play in reframing these expectations and role modeling new behaviors?&nbsp;We need cultural paradigm shifts, and the solutions must come from both men and women, at work and at home. How can <a href="https://speakingofmedicine.plos.org/2022/04/28/walking-the-path-to-gender-equality-together/">male allies</a> amplify their efforts in their homes? How can mothers reframe expectations of themselves and shed the layers of guilt heaped on their existing burdens and responsibilities?



Third, what motivates me to push even harder. These are the things that keep the fire in my belly burning:



<ol class="wp-block-list">
<li>The growing anti-rights movement around the globe is scary. LGBTQIA+ rights <a>seemed to be</a> advancing around the world—including in <a href="https://time.com/5388231/india-decriminalizes-homosexuality-section-377/">India</a> and parts of <a href="https://asia.nikkei.com/Spotlight/Asia-Insight/LGBT-rights-in-Asia-Small-steps-forward-and-big-steps-back">Southeast Asia</a>. We welcomed our first African American president in the U.S. We were starting to see more women as heads of state around the world, albeit at a frustratingly slow pace (<a href="https://www.holoniq.com/notes/the-2024-global-state-of-womens-leadership">4 in 1995 to 17 in 2024</a>). But now, <a>we’re</a> seeing even this marginal progress being eroded by actions like the <a href="https://www.womenlifthealth.org/article/overturning-roe-vs-wade-will-reverberate-globally/">reversal of Roe v Wade in the United States</a>, a global pushback against equity and inclusion, and a rise in <a href="https://www.hrw.org/sitesearch?search=xenophobia">xenophobia</a>. How can we find common ground? Whatever the strategy, we must fight to protect fundamental human dignity, safety, and rights, especially for marginalized groups. We must do this collectively, systematically, and on a grand scale. The time is NOW.&nbsp;</li>
</ol>



<ul class="wp-block-list">
<li>The climate crisis is <a href="https://www.weforum.org/publications/global-risks-report-2024/digest/">already happening.</a> <a>In</a> this month alone there are <a href="https://www.bbc.com/news/articles/c72plp66g5no">devastating floods in Kenya</a>, and in <a href="https://www.cbsnews.com/news/heat-wave-asia-2024-deaths-india-severe-weather-climate-change/">Asia</a> and <a href="https://www.cbsnews.com/news/maps-extreme-summer-heat-us-forecast/">the U.S</a> <a>we’re</a> bracing for record heat waves. Where is our sense of urgency? Where are women leaders in this fight? At WomenLift Health, we are keen to invest in the leadership skills of women who work at the intersection of health, climate, and gender. Institutions have been investing billions of dollars in technological solutions and products for a long time. They have achieved a lot of success, but <a>we’re</a> still way behind global health targets. Why? How do we ensure that the monumental resources being spent on lifesaving technologies get through layers of bureaucracy to that precious last mile? How do we ensure that the diverse leaders who understand these complex contexts are included at decision-making tables? How do we ensure that when uncertainty and fear inevitably arise, we have leaders who can handle volatility and lead with <a href="https://www.cfr.org/article/womens-power-index">agility and resilience</a>?</li>
</ul>



Last, what excites me about the future. The collective power of WomenLift Health community and the desire to pay it forward.The ideas that germinate after these conferences and the belief that when we put our heads, hearts, and hands together, there is no ceiling too high, no barrier too daunting. There are big challenges, and together, we will <a>overcome</a>!&nbsp;



Connect with <a href="https://www.womenlifthealth.org/profile/shereen-bhan/">Shereen</a> on <a href="https://www.linkedin.com/in/shereenbhan/">https://www.linkedin.com/in/shereenbhan/</a>

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The Power of Human Connection

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In construction since the latter part of 2018, OR Tambo International Airport SEZ Precinct 1 officially opened all its doors during the month of March 2024.



The milestone, which marked the end of OR Tambo Special Economic Zone (SEZ) Precinct 1’s development, was celebrated at an event attended by key government leaders, investors, tenants and stakeholder partners. This commemoration followed similar occasions held in April 2019, when the second largest food factory of its kind became operational and again in February 2023, when a building that houses a Belgian investor was unveiled in the presence of key dignitaries, including King Philippe of Belgium.&nbsp;



In addition to the building openings marked on other occasions, two other buildings have been operational at the Zone since 2020; these include a precious metals refinery as well as an administrative building where national regulatory agencies are located.&nbsp; These agencies, namely the South African Diamonds and Precious Metals Regulator (SADPMR) and the State Diamond Trader (SDT) are mandated with providing regulatory guidance and oversight of the minerals industry in South Africa as well as promoting equitable access to and beneficiation of the country’s diamond resources, respectively. Their presence at the Zone contributes to efficient operations by the manufacturers, who must, on a regular basis, engage with the agencies on issues of licensing, raw material access and exporting.&nbsp;



To herald the end of Precinct 1’s development, the six remaining buildings were completed, bringing to a successful realization, the objective set by the Gauteng Provincial Government to establish a globally competitive mineral beneficiation cluster – next to Africa’s largest airport.



This vision, which gives impetus to South Africa’s mineral beneficiation strategy, was conceptualized in support of the objective to contribute to the country’s re-industrialization, by facilitating enhanced value addition of minerals mined in South Africa, some of which continue to be exported in their raw form, resulting in the export of jobs to countries that add value.&nbsp;



To counter this and in recognition of South Africa’s mineral endowments, the development of a globally-competitive mineral beneficiation industrial park supported by a sector nuanced manufacturing eco-system and comprised of different role players within proximity to each other (thereby enhancing operational efficiencies), was birthed. &nbsp;



In acknowledgement of the competitive location of the OR Tambo International Airport (ORTIA) SEZ – next to sub-Saharan Africa’s largest airport, manufacturing activities at the first phase of the SEZ also include fresh food production. This is because the food system has the ability to employ a large number of people, supporting the country’s objective to create much needed job opportunities.&nbsp;



It is no mistake therefore, that the anchor on the northern side of ORTIA Precinct 1 is a premium fresh food producer with the capacity to package more than 1,400 food products.



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="1080" height="720" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/06/GIDZ1.jpg" alt="" class="wp-image-495986" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/06/GIDZ1.jpg 1080w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/GIDZ1-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/GIDZ1-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/GIDZ1-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/GIDZ1-768x512.jpg 768w" sizes="auto, (max-width: 1080px) 100vw, 1080px" /></figure>



<h2 class="wp-block-heading" id="h-unpacking-ortia-precinct-1-fresh-food-jewelry-and-diamond-manufacturing">Unpacking ORTIA Precinct 1: Fresh food, jewelry and diamond manufacturing</h2>



<h3 class="wp-block-heading" id="h-globally-competitive-food-processing-operations">Globally competitive food processing operations</h3>



ORTIA Precinct 1 comprises of 63,000 square meters of developed space.&nbsp; This includes a 22,735 square meter food-processing facility that became operational in 2019.



Described as the largest and most diverse ultra-fresh food facility of its kind in the southern hemisphere, In2food Bonaero, as it is known, accommodates food preparation, storage, office areas as well as a canteen, showers and a medical clinic.



The Bonaero industrial operations boast an impressive refrigeration and PV system that reduces demand on the grid.&nbsp; In addition, all water sources are monitored through a comprehensive building management system.&nbsp; Because of all this, In2food Bonaero is one of the few industrial facilities in South Africa that has achieved 4-star green accreditation and net-zero carbon level 1 certification, setting the benchmark for other industrial developments.&nbsp;



Since its opening, this facility has created over 2,500 operational jobs and has also supported and promoted emerging farmers that provide input to the facility for value addition.



<h3 class="wp-block-heading" id="h-globally-dynamic-mineral-beneficiation-cluster">Globally dynamic mineral beneficiation cluster</h3>



The remaining part of the precinct is where the Jewellery and Diamond Manufacturing Cluster is located.&nbsp;



Comprised of over 40,000 square meters of developed space, the JMP, as it is known, is home to 19 different companies that share similar characteristics and operating requirements. These include a precious metal refinery, diamond cutting and polishing companies, jewelry manufacturers, diamond-trading entities, a skills hub as well as regulatory agencies that support the industry. In addition, sector-specific service providers that support in high level security requirements inclusive of the movement of goods, also form part of the development.



<h3 class="wp-block-heading" id="h-enhanced-connection-and-collaboration-in-mineral-beneficiation">Enhanced connection and collaboration in mineral beneficiation</h3>



The location of like-minded businesses at the precinct is an intentional move by the OR Tambo SEZ aimed at ensuring that the mineral beneficiation cluster functions competitively and efficiently. &nbsp;This is because, worldwide, the cluster approach to economic development has been shown to not just foster industrial development, but also promote connection and collaboration, leading to increased creativity and productivity.&nbsp;



It is anticipated that through this approach, minerals mined and beneficiated in South Africa for global consumption will increase.&nbsp;



<h3 class="wp-block-heading" id="h-the-next-frontier-nbsp-ortia-precinct-2-and-the-springs-precinct">The next frontier:&nbsp; ORTIA Precinct 2 and the Springs Precinct</h3>



With the completion of ORTIA Precinct 1, focus of the SEZ’s development is on ORTIA Precinct 2, a 29ha land parcel projected to have 265,000 square meters of developable space and the Springs Precinct, a 13ha land parcel projected to have 45,000 square meters of developable space.



In lieu of their individual competitive locations, each precinct is positioned to promote the production and export of products best suited to their locations.&nbsp; In respect of ORTIA Precinct 2, which is located a stone’s throw away from ORTIA Precinct 1 and OR Tambo International Air Cargo, these are mineral-beneficiated products, pharmaceutical and health products, electronics and other just-in-time products, such as fresh food.&nbsp;&nbsp;



In respect of the Springs Precinct, there are fuel cells, electrolysers, capital as well as mining equipment. This is because the Springs Precinct is competitively located near a platinum refinery, making it ideal for the production of platinum-related products.



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<h3 class="wp-block-heading" id="h-available-opportunities">Available opportunities</h3>



The OR Tambo SEZ is open to interest from companies manufacturing for export in the sectors identified at ORTIA Precinct 2 or the Springs Precinct.



Construction on the precincts (both are greenfield investments) is anticipated to commence in the latter part of 2024.



For more information, visit <a href="http://www.ortambosez.co.za">www.ortambosez.co.za</a>

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Southern Africa’s Jewelry Manufacturing Precinct Fully Open For Business

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Unleashing Business Potential with the Samsung Galaxy S24 Ultra

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SingularityU South Africa Summit to take place in collaboration with Old Mutual on 21 &amp; 22 October 2024



Johannesburg, 22 May 2024: True to its promise to bring business leaders the latest innovations and bleeding edge breakthroughs in exponential technologies, Singularity South Africa has announced the plans for the upcoming Summit, that will return in physical format this year, in collaboration with Old Mutual. With over 1 500 delegates expected, the popular summit will take place on Monday 21 and Tuesday 22 October 2024 at the Sandton Convention Centre in Johannesburg.



Continuing its strategic focus to future proof Africa and leverage the latest innovations to solve the global challenges, the first ten international and local speakers have been announced.



World-renowned cybersecurity expert, Jaya Baloo will return to the stage to share insights on guarding the digital frontier. The genius behind Stable Diffusion, Emad Mostaque, Founder of Stability AI, will address the future of decentralized and democratized AI. The food scientist, Arturo Elizondo who has made it his life&#8217;s mission to improve the global nutrition system, will tackle the future of protein in a plant-based ecosystem. Cathy Hackl, founder of Spatial Dynamics (USA) will deliver a keynote on immersion in the spatial web.



Tech venture capital (VC) investor, Karine Arama will ignite conversations around the convergence of artificial intelligence (AI) and Blockchain and the future of the VC investing landscape. Carlo van de Weijer, a smart mobility and AI visionary from Eindhoven University of Technology, will steer the narrative around the future of mobility while sharing the latest global innovations in mobility solutions.



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With AI currently super charging every aspect of business and society, the summit will see the world’s thought leaders on this topic congregate to equip delegates with the foresights needed to harness this phenomenon. AI Ethics Sociologist Alix Rubsaam will address AI and ethics, exploring the societal impacts of bridging the human and digital realms. Adam Pantanowitz (PhD) will speak on the current shifts that are leading to the convergence between humans and machines.



Professor of Machine Learning and Robotics Benjamin Rosman will dive into the algorithms that are reshaping how machines learn and interact. Data wizard, Mark Nasila (PhD) who harnesses analytics to enhance banking security and customer insights, will address the African Artificial (AI) renaissance.&nbsp;



Now entering its sixth year, and known for exceeding expectations at every event, the 2024 iteration of the Singularity Summit will feature a broad array of topics that also include energy, ESG (environmental, social, and governance), food, leadership, medicine, robotics, technology, the future of work, virtual reality, and water. More speakers will be announced leading up to the event.



In another first for South Africa, the Singularity South Africa Summit will be the first local event to feature a dedicated world-class metaverse track. People from all over the world will be able to access the summit’s main stage and plenary sessions in an immersive, 3D format, via the Africarare metaverse. 



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“As Old Mutual advances its digital transformation and prepares for the launch of a digital bank, the upcoming two-day SingularityU summit, featuring top experts in AI, technology, science, and futurism, offers a chance to glean invaluable insights from those shaping the future of tech and society,” shared Celiwe Ross, Director: Group Strategy, Sustainability, People and Public Affairs at Old Mutual.



“In a world where technology is rapidly reshaping the horizons of our possibilities, this year’s SingularityU South Africa Summit is a beacon for innovation. Collaborating with Old Mutual enables us to enhance our platform, where global leaders in technology will illuminate the path towards a sustainable and prosperous future. Our commitment is stronger than ever to empower visionaries and leaders with the insights needed to harness exponential technologies for the greater good of Africa and the world.” said Mic Mann, co-CEO of SingularityU South Africa.



“We remain steadfast in our commitment to help empower Africa&#8217;s business leaders with the knowledge and tools needed to shape an abundant future and know that the insights that will be shared from the stage will play a meaningful role in bringing this vision to reality. We are pleased to be collaborating with Old Mutual on this mission and know that their business dexterity will add tremendous value to this years’ experience,” added Shayne Mann, co-CEO of SingularityU South Africa.



The plans regarding ancillary events, networking opportunities, and the final programme for the SingularityU South Africa Summit will be announced in the coming months. To join the SingularityU community of changemakers, or to learn more, visit <a href="https://singularityusouthafrica.org/">https://singularityusouthafricasummit.org/</a>.



Ticket prices: R 14&nbsp;500 per person, book before midnight on 15 July and save 22%. (Next tier applies thereafter) All prices include VAT.

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