By Lincoln
Wilcox and Efosa Ojomo



The United
Nations defines access to safe drinking water as a basic human right, but
according to their newest report, three out of ten—or 2.1 billion people—still
lack access to it. Water may be life, but unfortunately it’s not free.&nbsp;



Governments
and development organizations have spent billions of dollars over the past
several decades in an attempt to address this inequity in low- and
middle-income countries, but the unfortunate reality is that many of these
efforts have fallen flat. The United States, for example, has spent more than <a href="https://www.theguardian.com/society/katineblog/2009/mar/26/water-projects-wasted-money">$360
million</a> on rural water supply schemes in Africa and other regions that have
broken down and no longer work. When outside actors provide communities with
resources like wells and water treatment infrastructure, too often no
sustainable mechanism exists to maintain them. And even if they don’t break
down, donated solutions are inherently unscalable.&nbsp;



So how do
you create a solution that sticks? In our research, we&#8217;ve found that it starts
with innovators and entrepreneurs who create robust markets that serve people
who are currently unable to access water. These new markets provide the
necessary resources to make safe water not only affordable and accessible, but
also financially sustainable since they generate revenue that can then be used
to maintain and grow the market. Consider how these two organizations, each
with different business models, have created viable, lasting solutions that
address the access to water challenge in the regions where they operate.



Drinkwell:
Developing technology for safe water



In the
densely populated nation of Bangladesh, the country’s clean water <a href="https://www.who.int/bulletin/archives/78%289%291093.pdf">crisis</a> reached
an all-time high when it was discovered that arsenic had contaminated the
nation’s groundwater. It was this crisis that inspired Minhaj Chowdhury to form
<a href="http://drinkwellsystems.com/">Drinkwell</a>, a social enterprise that
sells low-cost, high-efficiency water filtration systems to local entrepreneurs
who build a business around providing safe water.



Empowering
entrepreneurs who can leverage their social capital to reach customers is a key
component of the company’s model, which Chowdhury credits with its
sustainability. But the company also ensures the long-term viability of its
“Water ATMs” by providing entrepreneurs with maintenance support and financial
management assistance.&nbsp;



Drinkwell
started selling its solution in 2013, but unlike to thousands of donated wells
that have provided water for limited periods before breaking down, the
organization’s financially sustainable model shows no signs of decay. To date,
more than 200,000 people now load “water credits” onto their DrinkWell cards
and use them at designated DrinkWell sites in India, Bangladesh, Laos, and
Cambodia, and the organization aims to expand its network to serve more than
5,000 communities in the next year. Drinkwell’s success offers a blueprint for
closing the gap on access to clean, affordable water.&nbsp;



Manila
Water: A public-private partnership that works



25 years
ago, as many as ten million people in the Philippines didn’t have access to
safe water. In the eastern region of Manila, the capital city, barely a quarter
of people had access to potable water. The situation got so bad that the
government was compelled to enact a National Water Crisis Act, which paved the
way for innovators to work with the government to solve this problem. This gave
birth to <a href="https://www.manilawater.com/corporate/about-us/our-story">Manila
Water</a>, a public-private partnership between the government and the
Philippines&#8217; oldest conglomerate, Ayala Corporation.&nbsp;



As a
private company, Manila Water had a strong incentive to distribute water to as
many customers as possible. To do this, its executives invested in new systems
for production, treatment, and distribution of water; trained an entirely new
workforce; and reshuffled the existing organization structure to focus on
increasing access. At the same time, the government retained its ability to
regulate the industry to best serve the people of Manila. This hybrid
public-private relationship between Ayala and the government has paid off
immensely as more than 99% of people in the region now have access to
affordable, clean water. In addition, Ayala is exporting its expertise to
neighboring countries, including Vietnam, Thailand, Myanmar, and Indonesia.
Sometimes the government has the will, but the private sector might just have
the way.



In a world
where water, the most basic resource we need to survive, is still out of reach
for more than two billion people, a fundamental rethinking of how we address
the challenge of providing this critical resource is necessary. No one
organization can solve the global water challenge, but organizations like
Drinkwell and Manila Water have shown a way to develop innovative
models—through leveraging entrepreneurship, new technologies, and government
partnerships —to tackle this seemingly intractable issue. And unlike more
conventional answers to the problem, these solutions are fundamentally
sustainable and scalable. That’s why they remain our best hope for making water
accessible to all.



Lincoln
Wilcox is a
research associate on the global prosperity team at the Clayton Christensen
Institute.



Efosa Ojomo is a senior research fellow at the
Clayton Christensen Institute where he leads its Global Prosperity research.

Op-Ed: The best hope for solving the global water crisis

<div class="wp-block-image"><figure class="aligncenter is-resized"><img loading="lazy" decoding="async" src="https://www.cnbcafrica.com/wp-content/uploads/2019/09/HUGO-BOSS-1-683x1024.jpg" alt="" class="wp-image-345770" width="364" height="546"/><figcaption>Alex Thomson</figcaption></figure></div>



From the catwalks of New York to Milan, HUGO BOSS has brought its stylishness and elegance to sailing with its iconic new yacht. The brand associated with stunning designs collaborated with Egyptian-born and Canadian-raised Karim Rashid, one of the most prolific designers of his generation, to devise the brand identity for the new ‘HUGO BOSS’ yacht, which record-breaking sailor Alex Thomson, stylishly dressed in the HUGO BOSS capsule collection will race in the 2020 Vendée Globe.



Vendée
Globe, known as the “Everest of Sailing”, is a solo, unassisted round-the-world
race. 



It is one of the most gruelling challenges a yachtsman can face, and for skipper Thomson it is one he is determined to win – after coming in third in 2012 and second in 2016.



<iframe loading="lazy" width="560" height="315" src="https://www.youtube.com/embed/-Mb2UL4G_G0" frameborder="0" allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen=""></iframe>



Rashid
who has more than 4,000 designs in production and 300 awards to his name worked
closely with the Alex Thomson Racing Team to turn his peerless expertise to
creating an inimitable look for the International Monohull Open Class Association
(IMOCA) 60 yacht.



<div class="wp-block-image"><figure class="aligncenter is-resized"><img loading="lazy" decoding="async" src="https://www.cnbcafrica.com/wp-content/uploads/2019/09/HUGO-BOSS-2-682x1024.jpg" alt="" class="wp-image-345771" width="359" height="540"/><figcaption>Karim Rashid</figcaption></figure></div>



Not
only will the striking neon pink design boat sail in the Vendée Globe but in a
number of long-distance races.



The new ‘HUGO BOSS’ yacht, which has just been unveiled and set sail through London&#8217;s iconic Tower Bridge for the christening ceremony, will make its first voyage when Thomson competes in the Transat Jacques Vabre race from France to Brazil, starting on October 27, 2019. 



<iframe loading="lazy" width="560" height="315" src="https://www.youtube.com/embed/Hk2LjVysLUw" frameborder="0" allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen=""></iframe>



On working with Rashid, Thomson said it was worthwhile: “while collectively – through our team, together with our naval architects and boat builders – we had all the skills required to design and build the new HUGO BOSS, we knew that we needed somebody to devise a strong brand identity for the boat. And that is where Karim’s vision came into play. It was great to see how passionate he was about the project from the very beginning.



Speaking
about the project, award-winning designer, Rashid shared similar sentiments:
“It is special to work on this. HUGO BOSS is such a global brand with a
contemporary vision, and Alex Thomson is such a champion in the sailing world.
Meeting Alex showed me the great passion one needs for these races. And
collaborating with HUGO BOSS and the Alex Thomson Racing team members, having a
constant back-and-forth dialogue, was essential in shaping my vision.”

HUGO BOSS sets sail with record-breaking sailor Alex Thomson

By Gary van Staden, Head of Research, NKC African Economics.



Mozambique’s elections – due in less than a month – will go ahead as planned despite threats by a splinter group of Mozambican National Resistance (Renamo) fighters who have defied the party leadership and vowed to step up its violence unless campaigning for the upcoming polls is suspended. There are no plans on the part of the government to suspend campaigning or delay the vote.



Fresh
elections are due on October 15 and the splinter group of disgruntled fighters
who lost January elections for a new leader following the death of long-time
boss Afonso Dhlakama have threatened to step up their banditry activities that
(to date) include two messy and unsuccessful attempts to hijack vehicles and
kidnap the occupants. 



The
new peace agreements implemented on August 1 by President Filipe Nyusi, leader
of the governing Mozambique Liberation Front (Frelimo), and Renamo leader
Ossufo Momade, required Renamo’s armed wing to disband (for the second time),
where members could either retire with a government pension or join the
national army.



Renamo’s
coercive capacity has dwindled to almost nothing following the death of
hardliner Mr Dhlakama, leaving a few disgruntled groups of fighters to continue
to resort to sporadic violence. 



Among
them was a renegade self-appointed ‘general’, Mariano Nhongo, who has falsely
claimed in several interviews to be ‘chief’ of Renamo’s armed wing. That was
never the case according to Southern African Development Community (Sadc)
sources. 



“We
do not acknowledge the recently signed peace treaty. An election will not take
place. Anyone who makes calls for elections should know: We will kill him,” Mr
Nhongo told foreign media while also claiming to be the legitimate leader of
Renamo having previously threatened to kill Mr Momade. 



Mr
Nhongo claimed to command some 500 troops, but Sadc intelligence and security
sources believe the number to be significantly lower and that these troops are
the dregs of the former armed wing and not very well trained. 



Nevertheless,
the commander continued his threats, saying that should the election
campaigning continue, “our attacks will continue”. He claimed that his fighters
had been responsible for two recent attacks on the vehicles of provincial
heavyweights in central Manica which left a total of four people injured.
Gunmen attacked two cars along the main N6 road from Beira to Chimoio. 



Some
media reports stated that the attack took place in the village of Zimpinga,
Gondola district, Manica – a Renamo zone of influence. Others said that police
had arrived on the scene, relatively swiftly ending the attack and foiling an
apparent attempted kidnapping. 



Speculation
that the actives of this splinter group, which must now operate outside any
formal Renamo structures or logistical or other support, have a capacity to
destabilise the elections, let alone the country, are fanciful and far-fetched.




The
evidence rather suggests a ragtag outfit of disgruntled fighters unable or
unwilling to accept the terms of the peace agreement. However, that does not
mean they are harmless. 



Sporadic
attacks on unarmed motorists could unfortunately result in fatalities. 



Mozambique
seldom runs perfect elections and the debates over legitimacy will resurface
before, during, and after the polls. But elections have tended to express the
will of the people and we doubt any Renamo splinter group will have much impact.

Op-Ed: Mozambique elections will go ahead despite threats of violence

By Mary-Jean Nleya 



Africa balkanised in 1884 – 1885 



The balkanisation of African states is a colonial
construct, yet it has become one of the most Africanised phenomena of
contemporary Africa. During the wave of independence, a pan-Africanist movement
swept over much of the continent with Julius Nyerere as its ardent proponent.
However, the drawn lines of the Berlin Conference remained firm causing
national identity to trump over a shared African identity. The recent
xenophobic attacks in South Africa, particularly the targeting of other African
immigrants in South Africa, is a testament to identity markers that have been
forged along national geographies &#8211; a consequence of the Berlin Conference. Some
Nigerian citizens returned home last week as result of the violence. The recent
actions in South Africa and the reprisal attacks in other African countries
targeting South Africa makes African integration hang in the balance. 



Xenophobia &amp; economic
integration



The
xenophobic attacks come at a time when African countries recently concluded the
largest trade agreement, since the creation of the World Trade Organisation in
1994. The African Continental Free Trade Area (AfCFTA) has the potential to
connect over 1.3 billion people as well as to form an economic zone of over $3
trillion and boost&nbsp;<a href="http://www.intracen.org/uploadedFiles/intracenorg/Content/Publications/AfCFTA%20Business%20Guide_final_Low-res.pdf">intra-African trade</a> in agriculture, manufacturing, raw
materials and services. However, such a potential requires more than simply
diplomatic relations across the continent, but also steadfast unity among
African people. Looting and destroying businesses owned by other African
migrants in South Africa, particularly businesses owned by those at the lower
rung of the socio-economic pyramid and the consequent retaliatory attacks in
various other African countries, goes against the very foundations of economic,
social and trade integration. 



The
AfCFTA was seen as acting as a buffer to the current trade-war climate by
strengthening regional trade within the continent of Africa; while free trade
is under attack in much of the developed world. If anything, the US-China trade
war is an additional propeller for African states to deepen trade-relations
among themselves.



However,
what use is an African trade pact that aims at building bridges and dismantling
borders; when the African people do not see themselves as a single identity? 



Art and development: The unifying
force of music



As the African continent grapples with its developmental agenda, art and specifically music has the propensity to act as a unifying force among African people. The major milestone accomplished by the <a href="https://www.youtube.com/watch?v=-X7b8fYcYCk">Ndlovu Youth Choir’s</a> magnificent performances that celebrated Africa as a continent and its culture, and that ultimately landed them a record as the first African act to make it to the finals of the US’ major talent competition, is significant not just as entertainment but also in forging a unified African identity in the midst of the regressive social and economic moment of the recent xenophobic attacks. Music that was composed specifically following the September 2019 xenophobic attacks was a song “Africa Unite” that poignantly explored social themes of interdependence and African togetherness. 



Music
is an
enabler in building bridges and in articulating and
expressing the complexities of identity politics found in development processes.
It is also a vital medium in communicating
and illuminating themes central to development discourse (including regional
trade integration) at a time where the social infrastructure of the continent
is of importance and heightened social tensions among
Africans need to be eased. 



Conclusion



The
AfCFTA, with its potential to make significant contributions to economic
development, curbing unemployment and poverty alleviation if it is supported by
effective policies, is a starting point; but an ingrained pan-African vision
from those at the bottom of the socio-economic pyramid all the way to the top
is essential for the growth of the African continent. The world has much to
benefit from an integrated and united Africa.&nbsp;Africa Unite.

Op-Ed: Africa urgently needs a shared identity for its $3trn free trade club to work, could music be a unifier?

By Francois Conradie, Head of Research, NKC African Economics.



Tunisia’s voters took to the polls on Sunday, September 15, in the first round of the second democratic direct presidential election in the country’s history. 



Since
Tunisians elected Beji Caid Essebsi in the first such election in November
2014, the political environment has undergone a number of changes: Mr Essebsi
has died; his party, Nidaa Tounes, has been badly damaged by infighting; and
the marriage of convenience between his secular current and the Islamist
current is on the rocks. 



The
race is a two-round affair: The first round is on Sunday and the second round
will take place later (no date has been fixed yet, but it will probably be
around October 13, which is the week after the legislative election on October
6). 



Results
from the first round will be known early in the week after the vote.



There
are 26 candidates in the race. No publication of opinion polling data has been
permitted since the start of campaigning, on July 16, so the most recent poll
(or the most recent reliable one – fake poll results have been flying across
social media) is from mid-July. That poll, by Sigma Conseil, indicates
television tycoon Nabil Karoui as the favourite (with 23% of voting
intentions), followed by Kaies Saied, an elderly law professor (20%); Abir
Moussi, the Ben Ali apologist (12%); Prime Minister Youssef Chahed, who looked
like the favourite not so many months ago (7%); former state president Moncef
Marzouki (7%); and Defence Minister Abdelkrim Zbidi (3%). 



But
that was before Mr Essebsi died, before Mr Karoui was arrested on August 23 on
money laundering charges that date from 2016, and before the Islamists of
Ennahdha named a candidate, Abdelfattah Mourou.



There
is little doubt in public opinion that the accusations against Mr Karoui are
politically motivated, and Tunisians see the hand of Prime Minister Chahed
behind it. 



Mr
Karoui may be freed at the eleventh hour: his case is to go to a second appeal before
the Cour de Cassation on Friday, September 13. Our expectation (based on
conversations with sources with some legal knowledge) is for the case against
him to be struck down, and for him to accordingly be in a position to contest
the election normally. 



A
twist in the story is that if he is elected president, Mr Karoui would become
immune from prosecution on these or other charges.



Mr
Essebsi’s death has boosted Mr Zbidi’s chances. His experience at defence is a
strong selling point in a country that has felt a serious deterioration in
security since the 2011 uprising against Zine Al-Abidine Ben Ali, and he will
moreover be the natural candidate for secularist voters who are looking for a
candidate to block the Islamists. 



Mr
Mourou’s campaign has not gone especially well (when his party named him, we
thought he looked to be a strong contender) and we expect he will get little
support outside of the relatively small community of convinced Islamists. 



The
people who have historically supported Ennahdha will, this time, vote for the
populist candidates like Mr Karoui or Mr Saied, as the polls show. Our
expectation is for Mr Karoui and Mr Zbidi to go to the second round. Mr
Karoui’s party, Heart of Tunisia, is also looking like a strong favourite to
dominate the legislative race in October. 



The
election should go smoothly and should once again affirm Tunisia’s status as
poster child for Arab democracy. 



Political
interference in the judiciary (we are among those who see Mr Chahed’s hand in
Mr Karoui’s arrest) is less positive, but, without relativising the matter too
much, is more typical of Italy’s messy and semi-captured democracy than of the
pitiless autocracy of Tunisia in Mr Ben Ali’s time. (So is the popularity of Mr
Karoui, who seems to have studied former Italian leader Silvio Berlusconi for
political strategy.) 



If
Mr Karoui’s appeal succeeds, we expect him and Mr Zbidi to go through to the
second round, in which Mr Zbidi is set to be the favourite. 



The
legislative election will deliver a very divided Parliament, which will
probably mean some weeks of negotiations before a prime minister is named and
the government can get down to business.

Op-Ed: What you need to know about Tunisia’s presidential election

By Fifi Peters and Monique Vanek



Old Mutual could have avoided its costly legal battle with sacked CEO Peter
Moyo if it had explored more options to manage the conflict of interest with Moyo
and his company NMT Capital – the issue at the heart of the dismissal. Court
papers claim Old Mutual could have taken advantage of its preference share
subscription (PSS) agreement with the investment company, formerly known as
Amabubesi, which could have circumnavigated the dispute. 



Preference share
subscription agreement &nbsp;



The means were there according to court papers. In 2004/2005 when Old
Mutual, as part of its <a href="https://www.oldmutual.com/docs/default-source/investor-relations-files/plc/reports/2004/2004-old-mutual-annual-report.pdf?sfvrsn=dc1cf217_6">black
economic empowerment objectives</a>, became a 20 per cent
shareholder in NMT Capital it ensured that it contractually protected itself over
its R46 million preference share capital funding to the investment company.



Court documents show that under this preference share subscription (PSS)
agreement, no dividends were allowed to be paid on ordinary shares if the
preference share debt had not been settled. This issue was at the centre of the
conflict of interest argument. 



The PSS agreement also provided Old Mutual with the option to convert
the preference shares into fully paid ordinary shares of equivalent value if
NMT Capital failed to repay the preference share funding by the redemption
date.&nbsp; 



Another option was that the PSS agreement allowed South Africa’s second largest insurer to receive interest on all amounts owing, if the preference dividend was not paid, once the company had redeemed the preference shares. 



Instead, Old Mutual agreed to redemption extensions in 2010, 2013 and 2017. In 2018 the company requested another extension. According to a <a href="https://www.nmtcapital.co.za/index.php/newsroom/clarification-sens-statement-dated-18-june-2019-issued-old-mutual">statement from NMT Capital</a> it entered into talks with Old Mutual over the redemption extension with little success. 



In the statement the majority black owned investment company claims:



“NMT Capital had started discussions with Old Mutual aimed at extending
the redemption date of the preference shares. There was also a proposal sent to
that effect. These discussions were ongoing and Old Mutual was aware at that
stage that NMT Capital did not intend to redeem the preference shares but
preferred an extension of the redemption date.



“For its part, NMT Capital has on several occasions made attempts to
meet with Old Mutual representatives to iron out these issues towards finding
common ground. This includes a meeting with the Chairman of Old Mutual, Mr.
Trevor Manuel, which took place on the 30th of May 2018.”



The background to all of this tells its own story. Instead of Old Mutual
taking up the options made available to it, through the PSS agreement, it fired
Moyo in June 2019, mainly, for his role in chairing an NMT Capital annual
meeting on June 4 2018.At this meeting the black economic empowerment group
approved the payment of ordinary dividends ahead of settling its preference
share debt payments. 



Old Mutual said it held three sub-committee meetings to discuss the NMT
matters prior to firing Moyo. 



Moyo claims the board was driven by improper motives when firing him and
that his dismissal followed protective disclosures he made about Manuel. The High
Court ruled in favour of Moyo’s version of events on July 30. He is expected
back at work for the second time since the sacking this morning after winning
yet another court battle last week. 



In his founding judgement, presiding Judge Brian Mashile said:



&nbsp;“The Respondents (Old Mutual)
would let this court believe that the issue concerning the Applicant’s (Moyo)
conflict of interest arose well before he made the disclosures. In short this
is factually misguided. The Respondents might have been holding meetings as
early as January 2019 but it was not until retrieval of certain documents from
archives of NMT during or at the end of April that they learned of the alleged
conflict. The discovery of the alleged conflict therefore came after the disclosures.
For this reason, the connection is apparent – disclosure followed by alleged
conflict and then occupational detriment.”



Old Mutual did not respond to questions about why it approved NMT’s
redemption extensions several times. Also, questions as to why it did not take
up its options to convert the then outstanding preference debt from NMT into
ordinary dividends. Nor did it respond to questions on why the May 2018 talks
failed to reach a settlement and whether Moyo knew this.



Conflict of interest
options 



Aside from the PSS agreement, Old Mutual had other options to deal with
Moyo’s conflict of interest, according to court papers.



They include: an independent disciplinary hearing; asking Moyo to resign
as a director from the NMT Group; divesting his interests in the company into a
blind trust, or as a last resort, arbitration.



The job of managing any conflict appears to be at Manuel’s door.



“Any conflict of interest resulting from the executive’s position as
non-executive director of NMT will be dealt with by the chairperson of the
company and/or in terms of clause 25.2 of the executive’s employment contract,”
the contract says. 



Section 25.2 suggests arbitration by a private firm to resolve an
impasse that would normally be handled by The Commission for Conciliation,
Mediation and Arbitration. 



When asked why Manuel did not use all the options available to him to
manage Moyo’s conflict, Old Mutual did not comment. In response to a question
about why it invested in NMT Capital and the Group to start with, Old Mutual’s
chief of communications, Tabby Tsengiwe said:



“The history of
Old Mutual’s NMT investment is not relevant.&nbsp; Old Mutual’s concerns relate
to subsequent management by Mr Moyo of his conflict of interest with NMT and
among others, that ordinary dividends were paid out while OM&nbsp;[Old Mutual] should
have been paid first as a preferential shareholder.”



Following the litigation and hullabaloo over the payment of the
preference share debt NMT Capital has settled the preference share loan it
received. Asked how much the holding company NMT Group still owes, <a href="https://www.cnbcafrica.com/videos/2019/09/03/old-mutual-on-results-zimbabwe-litigation/">Old
Mutual acting CEO, Iain Williamson</a> said the insurer’s
exposure was around R290m.Old Mutual has said it is negotiating to exit this
investment.

How Old Mutual could have avoided a costly legal battle with Peter Moyo

<div class="wp-block-image"><figure class="aligncenter is-resized"><img loading="lazy" decoding="async" src="https://www.cnbcafrica.com/wp-content/uploads/2019/09/Olga-683x1024.jpg" alt="" class="wp-image-344123" width="275" height="412"/></figure></div>



By Olga Arara-Kimani, Regional Head of Corporate Affairs, Brand &amp; Marketing for Standard Chartered in Africa and the Middle East



In recent years there has been significant improvements
towards empowering women in Africa and the Middle East (AME). Despite these
steps towards inclusion, according to the World Economic Forum’s 2018 Global
Gender Gap index<a href="#_ftn1">[1]</a>,
it will take more than 150 years to close the gender gap between men and women
in Africa and the Middle East. The effect of gender divide means women often
face barriers and end up in insecure, low-wage jobs, and constitute a small
minority of those in senior positions.



The divide hasn’t gone unnoticed. Regional
governments are increasingly moving ahead with progressive policies and
legislation, whilst Non-Governmental Organisations (NGOs) have been instrumental
in providing women with new skills and spurring attitudinal change. A solid
foundation has been laid for women to maximise their potential, however
government legislation and NGOs will not suffice if we are to truly level the
playing field. For this to occur, the private sector must be engaged as a key
partner to deliver on female equity. 



To begin with the public sector, governments across the region have moved to increase female participation in the workplace in recent years.  In the UAE, the government recently passed a resolution to increase women&#8217;s representation in the Federal National Council (FNC) to 50 percent<a href="#_ftn2">[2]</a>, whilst South Africa President, Cyril Ramaphosa has just announced that government plans and budgets will have to include gender-specific delivery targets.  Governments across the region have also been instrumental in introducing legislation to encourage women both in, and into, the workplace. For instance, Lebanon has increased paid maternity leave from 49 to 70 days. Progressive policies are not only helping women enter and stay in the workforce, but in the long-term will have a positive impact on the region’s GDP. In the GCC alone, some estimates tout a 50 percent boost to economic output if women participate in the workforce to the same extent as men. International organisations have also contributed to significant advances in female economic empowerment across Africa and the Middle East, with a significant impact on attitudes towards equality. The United Nations (UN) has led this charge, with gender equality high up on its agenda as one of the Sustainable Development Goals (SDGs). In the Middle East, UN Women awarded 200 youth volunteers at HeForShe for reaching 20,000 commitments on women’s empowerment<a href="#_ftn3">[3]</a>, and in Africa, the organisation aims to empower up to two million women through various initiatives aimed at increasing income, wealth and business leadership skills. Beyond the UN, a large number of international organisations have also been instrumental in empowering women across the AME region. Oxfam, for example, has launched a global campaign called Raising Her Voice (RHV) which aims to promote women’s rights. This included a budget in Pakistan of over US$500,000
between the years of 2008-2013<a href="#_ftn1">[1]</a>.
In South Africa, the RHV campaign received roughly US$50,000 annually for
training and workshops that involved feminism and advocacy skills<a href="#_ftn2">[2]</a>.



Local NGO initiatives have also been key in
the advancement of female inclusion throughout the AME region. As an example, five
Lebanese NGOs and the Lebanese League for Women in Business (LLWB) teamed up in
2016 to form Girls Got IT, an NGO to provide female students with access to hands-on
tech workshops, talks by industry leaders and tutorials on digital innovation. To
take but one of many examples from Africa, a Tanzanian NGO called ‘Village
Enterprise’ works on ending extreme poverty by helping women in rural areas
through entrepreneurship and innovation. The group has been working successfully
and achieved a milestone of one million lives transformed in May 2019<a href="#_ftn3">[3]</a>. 



It’s clear that governments and civil society have done much to integrate women into AME economies, positively affecting millions of lives along the way. Nevertheless, much remains to be done. Female labour force participation rates vary widely among African states, with South Africa at 49 percent<a href="#_ftn4">[4]</a> and Tanzania at 80 percent<a href="#_ftn5">[5]</a>. On the other hand, in the GCC, women comprise just 19.2 percent of the workforce according to one study<a href="#_ftn6">[6]</a>. In this context, the private sector, with all of its economic might, constitutes perhaps the most crucial element in addressing the balance. A recent study by Deloitte showed that Africa’s private sector represents 75 percent of generated wealth and 90 percent of all employment opportunities in the continent<a href="#_ftn7">[7]</a>. Fortunately, there are encouraging signs that companies are stepping up across AME and pursuing a concerted effort to empower women with new skills and opportunities. Standard Chartered stands as a case in point. The Bank has committed to raise USD50 million, between 2019 and 2023 through fundraising and Bank-matching, to empower the next generation to learn, earn and grow via its Futuremakers programme. By no means is Standard Chartered satisfied to merely provide financial donations – it also actively implements women’s empowerment programmes such as Women in Tech, aimed at promoting the economic and social development of women entrepreneurs. To date, this programme operates in five countries with entrepreneurial female participants from Pakistan, Nigeria, the US, the UAE and my home country, Kenya. The Bank is also committed to creating a more inclusive environment to help working parents balance work and family responsibilities; its staff can enjoy the benefit of flexible working policy, a parental paid leave of up to 140 calendar days for the mother and two weeks for the spouse.



Achieving gender equality is an important moral principle and acts as a catalyst to other development outcomes such as poverty reduction, well-being and health<a href="#_ftn1">[1]</a>. Governments and NGO’s have been active in empowering women; however, change will take a collective partnership between government, NGO’s and private enterprise across the region to elevate women to an equal status. The outcome of maximising women’s potential and achieving gender equality will result in greater contributions being made and benefits to the entire region.

Op-Ed: What are the steps needed to challenge the gender divide ?

By Jared Jeffery, Political Analyst, NKC African Economics



For three consecutive weeks leading up to 19 August 2017, police or intelligence agents allegedly followed opposition chief whip, and perennial thorn in the president’s side, Tundu Lissu wherever he went. 



&#8220;They
should work to fight criminals and not waste their time and money on taxpayers
worrying about citizens fulfilling their right to hold government to
account,&#8221; he told attendees of the Democracy and Progress Party’s
(Chadema) summit. 



Less
than three weeks later, on 7 September 2017, attackers armed with AK-47s
sprayed his vehicle with bullets outside his house at a guarded government
housing compound in Dodoma. He was shot 16 times but survived. 



Two
years later, the perpetrators have not been apprehended and the government is
trying to revoke Mr Lissu’s position as a Member of Parliament (MP) due to his
absence for medical treatment. 



The
High Court on Monday, August 26, dismissed the state’s attempt to block an
application by Mr Lissu to challenge the decision to strip him of his seat in
Parliament. 



A
minor victory in a campaign to return and take on President John Magufuli in
next year’s election. 



The
application, filed by his brother Alute Mughwai in his absence, also seeks to
suspend the swearing-in of Miraji Mtaturu of the ruling Revolutionary Party
(CCM) as MP for the Singida East constituency, according to The Citizen. 



Mr
Lissu is also facing a sedition case which has been adjourned until September
23 due to his medical absence. It is not yet clear whether he will return by
that date. 



Other
Chadema leaders are fighting their own court battles. National Chairman Freeman
Mbowe, Secretary General Vincent Mashinji, and seven other senior members
(including five MPs) are facing charges of sedition, unlawful assembly, and
inciting the commission of offences, among others, related to events last
February during the Kinondoni by-election. 



A
university student was killed by a stray bullet when police tried to break up
the demonstration organised by Chadema. 



Elections
are still over a year away but plans to counter the repressive turn that the
political environment has taken under Mr Magufuli will need to be put in place
soon if the opposition is to have any chance. 



Mr
Lissu’s return and a legal victory to keep his seat in Parliament would be a
significant boost. It would also signal that the judiciary is able to withstand
executive pressure. 



Even
if Mr Lissu and the Chadema leadership overcome the legal challenges they face,
we can expect more trumped-up charges (likely on sedition and insulting the
president) to be laid to hamper their campaign. 



Before
being shot, Mr Lissu had been arrested six times in 2017 alone. 



The
excessively empowered registrar of political parties, who benefits from the
recently passed Political Parties Act, will also likely do their best to keep
the opposition on the backfoot. 



The
year ahead is going to show what is left to salvage of the country’s democratic
progress pre-Magufuli. 



Hopes are not high.

Op-Ed: Shot and stripped of his seat, Tanzania opposition MP Tundu Lissu keeps fighting

By Ifeoluwa Adenike Alade, PhD candidate,&nbsp;University of Ibadan, Nigeria



Food
and nutrition insecurity
is a chronic problem for Africa. Despite decades of humanitarian and
development efforts, <a href="https://globalnutritionreport.org/nutrition-profiles/africa/" target="_blank" rel="noreferrer noopener">one
in five</a>
Africans remain undernourished and <a href="https://www.theguardian.com/global-development/2019/jun/05/nearly-half-of-all-child-deaths-in-africa-stem-from-hunger-study-shows" target="_blank" rel="noreferrer noopener">a
third</a> of
Africa’s children are stunted. 



One little-known
crop that is essential to food security on the continent is amaranth. This
leafy green vegetable is one of the most consumed in Africa and <a href="https://www.nap.edu/read/11763/chapter/3" target="_blank" rel="noreferrer noopener">accounts for</a> up to 25 per cent of daily protein
intake in some countries, making it essential to their health and wellbeing.



What’s more,
it is a plant that is quick to grow, thanks to
its highly <a href="https://www.appropedia.org/Original:Amaranth_Modern_Prospects_for_an_Ancient_Crop_5" target="_blank" rel="noreferrer noopener">efficient
photosynthesis process</a>,
and which &nbsp;thrives on degraded land even in hot
and dry weather, making it an increasingly important crop to mitigate the
impact of climate change on food production. 



But one threat
that holds back amaranth from making an even greater contribution to Africa’s
food security is the amaranthus leaf webber, a species of moth that is commonly
found in the tropics. The webber larvae are voracious pests, and a single leaf webber
infestation can destroy an entire field of amaranth.



To prevent
an infestation and protect their amaranth harvest, farmers rely on pesticides.
However, long-term pesticide use comes with challenges, including the
development of resistance among leaf webbers. 



So, what if
farmers had another tool to stop this pest? 



This
question motivated me to search for new crop protection techniques that could
be affordable, effective, and sustainable, and it turns out that nature may
have already come up with a solution. 



Many plants
have evolved ways to deter pests through releasing biochemicals that repel
harmful insects. By identifying the biochemical that targets leaf webber and
reproducing this as a crop protection product, we can effectively safeguard
crop harvests using the plant’s own biochemistry.



For amaranth
farmers, plant-produced repellents could be valuable new tool in the toolbox,
supported by other strategies such as pest monitoring and surveillance, using
complementary crops to repel pests and using existing pesticides when
necessary.



Taken
together, such <a href="https://croplife.org/crop-protection/stewardship/integrated-pest-management/" target="_blank" rel="noreferrer noopener">integrated
pest management</a>
(IPM) can dramatically improve yields while also reducing labour and costs, by
ensuring that farmers use the most effective and sustainable combination of
crop protection techniques. 



To progress
this research, I am studying leaf samples of a group of amaranth species to
compare the levels of biochemicals with the abundance of leaf webbers. If leaf
webbers are less abundant on plants with certain biochemicals present, then I
will have detected a possible repellent.



The next
stage involves examining the genetic make-up of the amaranths that produce
these repellents to discover the blueprint for the most pest-resistant variety.




Crop
scientists can then develop a species that is no longer vulnerable to this
pest. This would be a huge boon for Africa’s food security, especially in the
rural areas that rely on amaranth, protecting both nutritious food supplies and
agricultural livelihoods.



Such a
solution is an example of how crop protection can be proactive rather than
reactive when it comes to defending vital crops against pests. 



And as one
of the next generation of crop scientists, my work is just a small part of an
increasingly innovative sector. 



Preventing
crop pests from striking is essential for Africa’s food security. And with new
research, techniques and technologies, we are better equipped than ever before
to do so sustainably.

Op-Ed: Progress in pest prevention offers hope for Africa’s food security

By Keith Wade, Chief Economist and Strategist at Schroders and Craig Botham, Senior Emerging Markets Economist.



The Chinese yuan (CNY) has fallen below 7.0 versus the US
dollar for the first time in a decade, a level which has been widely seen as a
line in the sand for the currency.



Why is the yuan falling?



The move follows President Trump’s decision to impose 10%
tariffs on $300 billion of Chinese imports last Friday. This is not a
coincidence. Rather than backing down in response to the US, China is upping
the ante.



The exchange rate had been on the agenda at the trade talks,
with China refraining from allowing the currency to weaken whilst negotiations
seemed to be making progress.



Along with the move in the CNY, China has asked its
state-owned enterprises (SOEs) to suspend purchases of agricultural imports
from the US. &nbsp;



How are markets reacting?



As in the last period of concern over the CNY in 2015,
markets have reacted adversely. Risk assets have sold off and safe havens such
as government bonds and the Japanese yen are rallying.



Back in 2015, uncertainty over the direction of China’s
currency was significant as the authorities had not communicated their change
of strategy to the markets. Today there is a clearer framework in place, and
there are other differences. For example, in 2015 firms’ currency exposures
were unhedged and unprepared for any currency weakness.



Many borrowed in external currency simply to take advantage
of the carry trade. The shock of 2015 and the greater two-way volatility since
then, reinforced by messaging from the People’s Bank of China, means that there
is less of a mismatch on corporate balance sheets.



Messaging around the weakness is also clearer today than in
2015, when the reason for the devaluation was not obvious and so was
interpreted as a sign of underlying economic weakness. In short, we would not
expect a repeat today.



China had wanted tariffs to be removed as part of any deal,
so by doing the opposite Trump was effectively delivering a rebuke. The problem
now is that both sides could get into a position where they cannot back down
without losing face. Consequently, the prospect of a deal has diminished and
the risks of escalation have risen.



What does this mean for the global outlook?



Increased trade tensions will put further downward pressure
on global activity, with investment plans likely to be delayed or cancelled and
trade suffering. China and the Asian supply chain will be most affected, but US
growth will also suffer.



Alongside a stronger US dollar, such an environment may well
lead the US Federal Reserve to cut rates faster and further. Such a move may
please the president and yet, whilst he could reverse his decision on tariffs
with a tweet, it is difficult to avoid the conclusion that he has misjudged
China’s reaction.

Op-Ed: Has Trump misjudged China ?

By Victor Oladokun, Director of Communication and External Relations at the African Development Bank.



At the ongoing Africa Cup of Nations in Egypt, the visual imagery of  almost empty stadiums is a powerful narrative. But not the kind that African sports, African football, or corporate sponsors deserve.



The empty seat syndrome in suggests
that football fans are voting with their feet, or better still with their
backsides. Fans are choosing not to watch live football events, and instead are
opting in increasing numbers&nbsp; for the
&#8216;intimacy&#8217; of their crystal clear digital flat TV screens, or not all.



Before Egypt&#8217;s stunning 0-1 loss to South
Africa in the round of 16, the host country was the only team able to attract
70,000 fans. Other than when Mo Salah and the Pharaohs have been on the field,
most stadia across Egypt have at best attracted an average of 5,000 to 7,000
fans.



Official broadcast camera crews have done a
creative job minimizing the visual gaps of empty seats. But wide camera angles
reveal the obvious &#8230; a lack of attendance and public enthusiasm, in spite of
the presence of some of the biggest names in world football on the field.



In European football leagues, where many of
the stars in Egypt ply their trade, fans pay mega bucks to see the likes of
John Mikel Obi, Ahmed Musa, Sadio Mane, Ryahd Mahrez, Nicolas Pépé, Wilfred,
Zaha, and Kalidou Koulibaly.



Which is why the empty seats in Egypt are
both stunning. 



Admittedly, Egypt bailed CAF out and should
receive well-deserved credit for coming to the rescue and hosting the African
Cup of Nations, with barely 6 months notice, when the original hosts were
sanctioned due to shoddy preparations.



Nevertheless, the lack of attendance in
Egypt speaks volumes high ticket costs; the timing of matches bang in the
middle of work days; the difficulties faced by national team supporters in
obtaining entry visas to Egypt; and challenges with the Confederation of
African Football&#8217;s complicated online ticket purchasing system.&nbsp; 



It should not be so. This after all, is the
most important event in Africa&#8217;s sports calendar. At least, it used to be
before England&#8217;s Premier League, Spain&#8217;s La Liga, Italy&#8217;s Serie A, and
Germany&#8217;s Bundesliga captured our collective imaginations.



The end result is that where once 30,000 to
70,000 fans a week watched highly competitive domestic football leagues across
Africa, the empty seat syndrome has been&nbsp;
the norm for almost two decades. It is not unusual to have less than a
thousand fans in a stadium that seats 30,000.



The lack of fan attendance has obvious
economic and financial implications across the sports value chain for team
owners, sports federations and confederations, players, sponsors, advertising
and marketing agencies, merchandisers, vendors, and local communities who once
counted on fan attendance to boost fledgling economies.



What&#8217;s responsible for the increasing
slide in fan attendance?



1. Poor facilities



2. High ticket costs



3. A lack of reliable transportation
to and from venues. As well as sufficient and secure parking.



4. Increasingly crude behavior and violence
at event locations.



5. Technology. Mobile phones
and Apps that carry events live as well as a plethora of entertainment
alternatives. In other words, once big events are no longer the main gigs in
town.



So, what can be done to reverse the
trend? Here are 5 quick suggestions.



1. It can no longer be business as
usual. Africa must run sports as a professional business. This includes
the right infrastructure, training facilities, attractive pay scales for
professional athletes who now consider anything less than a European league
appearance, a professional failure. 



Regrettably, as with Africa&#8217;s overall
propensity to simply export raw materials instead of adding value to what we
produce, we are doing the same with football and many other sports. Africa has
a tremendous abundance of potential talent that for the most part (with the
exception of South Africa, Kenya and Ethiopia) we add little or no value to.
Instead, millions of genetically blessed athletes are simply waiting or begging
to be &#8216;found&#8217; on the cheap by European and American sports teams. Why? Simply
because we fail to see diamonds in the rough and because we are unable to add
value to the potential of what for now seems to be rough stones.



2. Modern and professionally
maintained facilities: In sizzling hot Africa, we must invest in
covered stadia. When I can sit in front of my big screen TV in my air
conditioned living room, why would I want to subject myself to temperatures
that I swear have gone up a number of notches in recent years?



3. Sport is a spectacle. This
includes everything including pre-event and half time entertainment to keep
fans with short attention spans upbeat and engaged.



4. Give back to the fans:
Essentially, engagement in the 21st century must change. Its time to give something
back to fans rather than fleecing them at every opportunity with sub-standard
services and products. It would seem to me that sports teams could offer
something as simple as raffle draws that reward fans with extra game tickets,
signed player jerseys, visits with select players, or products from local
sponsors. Professional marketing firms can come up with an endless list.



5. Make sports big and make it a
win-win proposition. 



Real Madrid F.C. and Barcelona F.C. for
example, are not owned by a few rich individuals. Instead, they are owned and
supported by thousands of shareholders known as &#8216;socios.&#8217; Across Africa,
it&#8217;s time to change the numbers game &#8211; in ownership, money, and attendance &#8211; by
giving fans a seat at the table.



These are just a few quick ideas. However,
the running of sports in general and football in particular as a business and a
brand proposition, will require honest analysis, political and financial will,
and a collective approach.



It must be if Africa is to unlock potential
and turn millions into billions.

Op-Ed: Sports as a business and a brand in Africa

Jaydeep
Gupta, Regional Head of Retail Banking at Standard Chartered Bank



Over the past ten years banking has seen a wind of change shake up the industry. With the onset of technological advances across all corners of society, banking has not been immune to digital disruption. Penetration of mobile and internet access, changes in customer demands and the growth of fintech has meant we have seen more levers pulling at the industry than ever before. And this is a phenomenon not sitting in isolation, it is a global trend, and one very relevant to Africa.



The
industry witnessed increasing numbers of bricks and mortar customers migrate
towards digital and mobile banking, with no signs of this trend ending anytime
soon. In fact, according to a recent report by Juniper Research, the number of
global digital banking users will hit the 3 billion mark in 2021 – to put that
in perspective, half of the world’s adult population will have digital access
to financial services in the next two years<a href="#_ftn1">[1]</a>. 



We are now living in a
mobile-led world, where customers are becoming increasingly accustomed to the
ease and convenience of digital channels. 24/7 access, a personalised approach,
and a unified, omnichannel experience has quickly become the norm, as internet
penetration in Africa has reached 35.9%<a href="#_ftn2">[2]</a> and smartphone penetration
at 33%<a href="#_ftn3">[3]</a>. &nbsp;We are witnessing that these services are no
longer viewed as a benefit, but rather an expectation. Retail banks are
responding by re-inventing their products and services to provide
users with a memorable digital experience across every interaction and touch
point. 



Standard Chartered is using
digital to make banking faster and simpler for clients and broadening the
client segments we can serve across fast growing markets. We
launched our first-ever digital retail bank in Côte d’Ivoire last year
and more recently, we’ve rolled out the second phase of our digitally-led bank
across Uganda, Tanzania, Ghana and Kenya. Deploying technological solutions, we
can now onboard clients in under 15 minutes and provide 70 of the most common
service requests
with just the tap of a finger. In addition, we are working hard to build eco
system covering ‘Lifestyle’ interests of customers which includes various bill
pay, wealth and everyday interest of our clients.&nbsp; Being digital through the every eco system also
allows us to serve clients who are used to doing everything on their mobile
phones and expect banking to be delivered that way.



Of
course, when adapting to a ‘digital’ world, it is crucial that banks find a way
to retain the ‘human element’ of banking. While digital channels are more
efficient, hold a lower error rate and decreased cost-to-serve ratio, finding
the appropriate balance between traditional and digital services is key to
providing an exceptional customer experience. According to research, 79% of
consumers prefer the human interaction to complement digital channels<a href="#_ftn4">[4]</a>. &nbsp;Offering only digital services will not suffice in
maintaining customer satisfaction overtime &#8211; there will always be a need for
human interaction. Standard Chartered has begun fusing digital functions with
human interaction to remain appealing to customers’ digitally connected lives. 



Additionally,
with a digital overhaul also comes a myriad of adjustments to a Bank’s
operating model. For example, with the increase of online transactions,
cybersecurity has taken center-stage. Banks now need to invest in technology
platforms to ensure the security of their customers’ data and information. A
recent survey by Deloitte revealed that financial institutions are now
allocating as much as 20% of their annual budget towards cyber monitoring and
operations. The same survey revealed that cyber defense was ranked as the most
important business issue for organizations who function in the financial sector<a href="#_ftn5">[5]</a>.&nbsp; 



Digitisation
and innovative technologies are creating unparalleled disruption in our
industry. As technology shifts customer expectations and interactions, banks
must respond by evolving to meet the challenges. In today’s digital world, we are guided
by simplicity, personalisation, mobility and agility. With the rise of mobile
and online banking in Africa, customers are migrating towards those platforms
for a faster and simpler banking experience. To meet those rising needs, Banks
must combine the trust of our customers with the convenience of technology to
create a bank of the future in Africa. 



<hr class="wp-block-separator"/>



<a href="#_ftnref1">[1]</a> https://www.bbva.com/en/unstoppable-growth-digital-banking-3-billion-users-2021/



<a href="#_ftnref2">[2]</a> <a href="https://www.internetworldstats.com/stats1.htm">https://www.internetworldstats.com/stats1.htm</a>



<a href="#_ftnref3">[3]</a> <a href="http://www.itwebafrica.com/mobilex/320-south-africa/244990-sub-saharan-africas-smartphone-penetration-at-33">http://www.itwebafrica.com/mobilex/320-south-africa/244990-sub-saharan-africas-smartphone-penetration-at-33</a>



<a href="#_ftnref4">[4]</a> <a href="https://cio.economictimes.indiatimes.com/news/enterprise-services-and-applications/79-of-users-want-human-touch-over-digital-customer-service-channels-study/55177269">https://cio.economictimes.indiatimes.com/news/enterprise-services-and-applications/79-of-users-want-human-touch-over-digital-customer-service-channels-study/55177269</a>



<a href="#_ftnref5">[5]</a> https://www2.deloitte.com/insights/us/en/industry/financial-services/state-of-cybersecurity-at-financial-institutions.html

Reimagining Banking in Africa

Content presented by&nbsp;<a href="https://www.ig.com/za/forex-trading">IG Forex Trading&nbsp;</a>
The notion of national debt is nothing new in the modern age, as even developed economies have become encumbered in the wake of the Great Recession. The U.S. currently has a gross national debt of $18.96 trillion, for example, and this is unlikely to decline significantly in the foreseeable future.
In this respect, South Africa&#8217;s national debt level of R2.2 trillion ($1.5 trillion) may not seem too outlandish, but this <a href="http://www.iol.co.za/news/south-africa/how-to-survive-sas-junk-economy-8557101">represents 49% of the overall GDP</a> and continues to underpin ongoing uncertainty and volatility within the region. It is these factors that have caused S&amp;P Global to downgrade the nation&#8217;s credit ranking from BBB- to BB+, which is colloquially referred to as &#8216;junk&#8217; status.
Why Has This Happened, and How Can South Africa Recover?
&nbsp;Fitch <a href="https://www.ft.com/content/5b8e083c-1b91-11e7-bcac-6d03d067f81f">became the second major agency</a> to reduce South Africa&#8217;s sovereign credit rating to junk status recently, reinforcing the decision by S&amp;P and highlighting the challenges facing the government. Both agencies justified their decisions by citing the recent dismissal of finance minister Pravin Gordhan, as part of a controversial and knee-jerk cabinet shift that reflected the chaotic leadership of President Jacob Zuma. This type of decision making has caused widespread volatility and divisions within the government, making it almost impossible for the African National Congress (ANC) to drive stability and much-needed policy continuity.
All is not lost for South Africa, however, as a viable (if potentially lengthy) path to redemption remains. This relies on the status of the nation&#8217;s local currency credit, which accounts for 90% of South Africa&#8217;s total debt and for now continues to carry an investment grade rating. The government must therefore focus on taking the necessary steps to preventing the local currency credit rating from sinking to junk status, as this will help to maintain liquidity and lay the foundations for future growth.
According to IG&#8217;s <a href="https://www.ig.com/za/forex-trading">trading forex</a> analyst Shaun Murison, there are some elementary steps that the South African government can take to achieve this crucial goal. “The first step in recovery would be to restore political certainty within the country and prove continuity in treasury’s policy and previously planned budget,” he said. “These are some of the primary factors which have been cited as reasons for the downgrade and therefore become obvious first points of call.” This means creating a stable cabinet and establishing a long-term economic policy, which is focused on driving incremental growth, increasing the value of local currency and optimising the amounts that can be reinvested into the public sector. 
The Last Word 
By listening to the citations of Fitch and the S&amp;P, maintaining composure and making strategic policy decisions, South Africa can survive this interim economic crisis and shed its junk credit status. These recent events should serve as stark warnings for the nation&#8217;s future, however, and the failure to recognise these could lead to further decline and the eventual need for a bail-out package from the International Monetary Fund (IMF).

Contributor

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Op-Ed: What you need to know about Tunisia’s presidential election

How Old Mutual could have avoided a costly legal battle with Peter Moyo

Op-Ed: What are the steps needed to challenge the gender divide ?

Op-Ed: Shot and stripped of his seat, Tanzania opposition MP Tundu Lissu keeps fighting

Op-Ed: Progress in pest prevention offers hope for Africa’s food security

Op-Ed: Has Trump misjudged China ?

Op-Ed: Sports as a business and a brand in Africa

Reimagining Banking in Africa

Can South Africa survive its credit rating decline?

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Contributor

Op-Ed: The best hope for solving the global water crisis

HUGO BOSS sets sail with record-breaking sailor Alex Thomson

Op-Ed: Mozambique elections will go ahead despite threats of violence

Op-Ed: Africa urgently needs a shared identity for its $3trn free trade club to work, could music be a unifier?

Op-Ed: What you need to know about Tunisia’s presidential election

How Old Mutual could have avoided a costly legal battle with Peter Moyo

Op-Ed: What are the steps needed to challenge the gender divide ?

Op-Ed: Shot and stripped of his seat, Tanzania opposition MP Tundu Lissu keeps fighting

Op-Ed: Progress in pest prevention offers hope for Africa’s food security

Op-Ed: Has Trump misjudged China ?

Op-Ed: Sports as a business and a brand in Africa

Reimagining Banking in Africa

Can South Africa survive its credit rating decline?

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