LAGOS, NIGERIA – MAY 5, 2022: Access Holdings Plc; trading as Access Corporation (&#8220;the Corporation&#8221;) announced today its start of operations, with initial portfolio companies and its future strategy. The Corporation, which builds on Access Bank&#8217;s scale and ethical standards, will have portfolio companies with significant complementarities, allowing the ecosystem to walk with customers across their life cycle while delivering value to stakeholders.



Herbert Wigwe the Group CEO of Access Corporation, speaking on its debut said: &#8220;Many of you would have heard us talk about Access Corporation earlier this year. This natural evolution of our company will ensure that we continue to use digital tools and our partnership with Fintechs to support our customers&#8217; lifestyles outside of the banking system. We have set our sights on and delivered ambitious plans to transform the African financial services sector over the last 20 years. Until now, we have concentrated on banking, with the goal of becoming the World&#8217;s Most Respected African Bank. Our banking subsidiary is now Nigeria&#8217;s largest bank by assets and Africa&#8217;s largest in terms of customer base. It is now time for us to take the next transformative step, where we provide our customers with beyond banking services delivering new interconnected financial services across customers’ needs.&#8221;



The Corporation will comprise verticals cutting across banking, payments, consumer lending, insurance brokerage and asset management. Access Bank Group will continue to operate in Nigeria and through its subsidiaries and business offices in Africa, Europe, and Asia. These businesses, when combined, will position Access Corporation to provide banking services, including intra-and inter-Africa trade, consumer lending, payments services, and insurance services to our customers, thereby improving wealth diversification and preservation.



Looking ahead five years, Access Corporation will be a leading financial and ecosystem player, with services spanning B2B and B2C marketplaces, B2B services, health, housing, digital, mobility content, mobility, core banking offerings, and other financial services such as insurance and wealth management.



Wigwe concludes, &#8220;We recognize and embrace the change that is currently happening and, as we have previously demonstrated, we will lead. Access Corporation will be a driving force in the ongoing digital revolution to the benefit of our stakeholders. This transition will allow us to offer more career development opportunities across portfolio companies for our employees, allowing us to attract and retain the best talent in an increasingly global marketplace. We will unlock more value for our customers by focusing on distinct business opportunities with high growth rates globally, such as payments and consumer lending, <s></s>

Herbert-Wigwe-Group-CEO-Access-Bank-Plc1

ACCESS CORPORATION UNLOCKING NEW OPPORTUNITIES FOR INTRA- AND INTER- AFRICA TRADE – HERBERT WIGWE

Africa is a continent that is bearing the brunt of the devastating impact of climate change, yet it has contributed the least to global emissions. The low carbon output reflects Africa’s crippling energy deficit which has stymied industrialisation and economic development.



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="800" height="600" src="https://cms.cnbcafrica.com/wp-content/uploads/2022/05/CNBC-article-2-_800x600.png" alt="" class="wp-image-417164" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2022/05/CNBC-article-2-_800x600.png 800w, https://cms.cnbcafrica.com/wp-content/uploads/2022/05/CNBC-article-2-_800x600-300x225.png 300w, https://cms.cnbcafrica.com/wp-content/uploads/2022/05/CNBC-article-2-_800x600-120x90.png 120w, https://cms.cnbcafrica.com/wp-content/uploads/2022/05/CNBC-article-2-_800x600-768x576.png 768w" sizes="auto, (max-width: 800px) 100vw, 800px" /><figcaption>Enlit Africa</figcaption></figure>



A new report from the Africa Finance Corporation sets out the continent’s stance of balancing the need for emissions reduction with critical development imperatives as Africa starts to look to net-zero.



<a href="https://www.enlit-africa.com/">Enlit Africa (the unifying brand for African Utility Week and POWERGEN Africa) invites you to join the conversation 7-9 June 2022 in Cape Town, South Africa</a><a href="https://www.enlit-africa.com/welcome">.</a> <a href="https://www.enlit-africa.com/the-event/attend">REGISTER TODAY</a>. 



“While renewable sources are the ultimate goal, Africa must also exploit its abundant reserves of natural gas as an essential transitional source of energy to support industrialisation – a position backed by the European Commission’s recent decision to classify natural gas as a form of green energy and a vital transition fuel in the path towards decarbonisation,” says the report.



A role for gas?



This is a position supported by <a href="https://www.enlit-africa.com/welcome">Enlit Africa 2022</a> (formerly African Utility Week and POWERGEN Africa), and one that will receive coverage at the event as delegates explore the topic of gas masterplans and the role of gas across the energy transition. <a href="https://www.enlit-africa.com/the-event/Learn/speakers">Speakers</a> sharing their thoughts on the role of gas include Thabang Audat, Chief Director: Planning, from the South African Department of Mineral Resources and Electricity. He is supported by Craig Morkel, Gas Economy Leadership Group Chairperson for the SA Oil and Gas Alliance, Hasnayn Ebrahim, MD, Africa Infrastructure Advisors and Maggy Shino, Petroleum Commissioner, Namibian Department of Minerals and Energy.



But the development of gas markets is not limited to that of natural gas only – but includes the possibilities to be explored through the development of a hydrogen market – not only as a source of primary energy, but also as a commodity for an export market.



Alternative fuels



This will form the basis of discussions at Enlit Africa around the development of a hydrogen market in Africa, plans to commercialise hydrogen and what the considerations are when it comes to pricing hydrogen.&nbsp; Joining this conversation are Siggi Huegemann, Chairman, African Hydrogen Partnership; Hendrik Louw, CEO, Northern Cape Economic Development, Trade and Investment Promotion Agency, and representative from the Department of Science and Innovation, South Africa



Attendees and exhibitors at Enlit Africa represent the leading suppliers, experts and energy professionals from Africa and around the world, offering an opportunity to network and engage with utilities, municipalities, OEMs, government, regulators, EPC, developers, financiers and the entire energy ecosystem. <a href="https://www.enlit-africa.com/the-event/attend">Register today.</a>



The UN Office for Disaster Risk Reduction estimates that the cost of structural damage caused by natural disasters in Africa will climb to $145bn a year by 2030. The continent thus needs strong and resulting buildings to rebuild ocean and river defences and infrastructure in transport, construction of electricity grids and off-grid energy. This will in turn help develop sustainable mining and the circular economy that could drive growth and job creation.



The focus of the Energy Storage and Alternative Solutions sessions during Enlit Africa will focus on how alternative energy source such as renewable energies, are providing certainty and energy security to mines and other large industrial concerns, not only in the case of loadshedding, but also in response to the effects of climate change. However, the conversation will also focus on opportunities to utilise renewable energy to bring electricity to clinics and communities and how collaboration between mines and the communities surrounding them can be beneficial for all.



Innovation



In order to effect change, Africa-based institutions like the IFC need access to essential climate funds through financial innovation to support resilient building and investment in localised mass-scale manufacturing and processing. The IFC’s Green City Action Plan is one such initiative. Speaking at Enlit Africa,&nbsp; representatives from the IFC will share how, by working with the City of Ekhuruleni, they have developed a Green City Action Plan that sets out actions that can help CoE meet its climate mitigation and sustainability targets. The Green City Action Plan leverages a new IFC platform, APEX, which is supported by the APEX Online Application Tool that helps quantify and prioritise policy and investment solutions across four key sectors: energy, transport, water, and waste.



Innovative finance mechanisms and unpacking the reality of the just energy transition for Africa are topics of discussion at Enlit Africa. <a href="https://www.enlit-africa.com/the-event/attend">Register today</a>. 



Information about the programme, speaker line up, networking, roundtable and site visit opportunities can be found by visiting <a href="https://www.enlit-africa.com/programme">https://www.enlit-africa.com/programme</a>.



Back at the CTICC <a href="https://www.enlit-africa.com/welcome">Enlit Africa 2022</a> will return to the CTICC in Cape Town with a world-class exhibition, showcasing the latest technology and services on offer in the sector. Known for its compelling content and speakers, the organisers will not disappoint, with two keynotes and most of the content presented in speaking hubs on the expo floor. Conference delegates will also be able to enjoy the networking and site visits that the event has popularised for over two decades. Strict health and safety COVID-19 protocols will be observed. Industry support Eskom, the Department of Mineral Resources and Energy and the City of Cape Town have been official hosting partners of the event for many years and 2022 will be no exception. <a href="https://www.esi-africa.com/" target="_blank" rel="noreferrer noopener">ESI Africa</a>, the continent’s leading news provider for power and energy news, is the official host publication.



<a href="https://www.enlit-africa.com/welcome">Enlit Africa (formerly African Utility Week and POWERGEN Africa)</a> is Africa’s leading exhibition and conference, gathering the power and energy industry’s most influential professionals and decision makers from across the continent for three days of relevant, accredited technical and strategic conference seminars, valuable networking opportunities and access to world-class products and solutions.



Enlit Africa is organised by&nbsp;<a href="http://www.wearevuka.com/" target="_blank" rel="noreferrer noopener">The Vuka Group&nbsp;</a>(formerly&nbsp;<a href="http://www.clarioneventsafrica.com/" target="_blank" rel="noreferrer noopener">Clarion Events Africa</a>), a leading Cape Town-based and multi-award-winning organiser of exhibitions, conferences and digital events across the continent in the infrastructure, energy, mining, mobility, ecommerce and CX sectors. Other well-known events by The Vuka Group include&nbsp;<a href="http://www.drcminingweek.com/" target="_blank" rel="noreferrer noopener">DRC Mining Week</a>,&nbsp;<a href="https://www.africaminingforum.com/" target="_blank" rel="noreferrer noopener">Africa Mining Forum</a>,&nbsp;<a href="https://www.nigeriaminingweek.com/" target="_blank" rel="noreferrer noopener">Nigeria Mining Week</a>,&nbsp;<a href="https://generationehq.com/smarter-mobility-africa/" target="_blank" rel="noreferrer noopener">Smarter Mobility Africa</a>,&nbsp;<a href="https://ecommerce-africa.com/" target="_blank" rel="noreferrer noopener">ECOM</a>&nbsp;and&nbsp;<a href="https://cemafricasummit.com/" target="_blank" rel="noreferrer noopener">CEM Africa</a>.



<a href="https://www.enlit-africa.com/">Enlit Africa (the unifying brand for African Utility Week and POWERGEN Africa) invites you to join the conversation 7-9 June 2022 in Cape Town, South Africa</a><a href="https://www.enlit-africa.com/welcome">.</a> <a href="https://www.enlit-africa.com/the-event/attend">Register today</a>.

CNBC-article-2-_800x600

The role of gas in Africa’s energy sector is just one of the strategic angles being pursued at Enlit Africa

Biased cultural norms, limited technology access, and biased teaching and learning materials perpetuate the STEM education imbalance between boys and girls.



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2022/05/Ghana_00693-1-820x547.jpg" alt="" class="wp-image-417156" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2022/05/Ghana_00693-1-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2022/05/Ghana_00693-1-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2022/05/Ghana_00693-1-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2022/05/Ghana_00693-1-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2022/05/Ghana_00693-1-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2022/05/Ghana_00693-1-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /></figure>



Ensuring that girls receive a quality education is the most powerful investment we can make in our collective future. Educated women are more likely to marry at a later age, have fewer children, earn higher incomes and build better lives for themselves and their families. The World Bank has even said that without improvements in gender equality, <a href="https://blogs.worldbank.org/nasikiliza/how-empowering-women-can-help-end-poverty-africa">we will not reduce poverty</a> in Africa.



Addressing the under-representation of women in science, technology, engineering, and mathematics (STEM) courses is a central part of improving girls&#8217; education in Africa. The choice could not be more clear: if Africa does not make significant progress in getting more girls in the sciences, its progress towards sustainable development will be compromised.



However, in many countries across the continent, <a href="https://www.teachingenglish.org.uk/sites/teacheng/files/2022-04/Girls%27%20education%20and%20empowerment.pdf">social norms and traditions prevent</a> girls from pursuing educational opportunities. In Sudan, for instance, many families with children see girls’ priority as domestic chores over schoolwork. Evidence shows that African girls who spend 28 hours per week on household duties and caregiving attend school 25% less than those with just 10 hours of weekly domestic chores. In a continent where girls are far more often pressured to work in the home than boys are, it results in major gender disparities in learning.



Some will argue that technology could be the solution, providing digital access to learning that girls might not otherwise have. However, gender norms already limit girls’ access to technology, and have had a disproportionate<a href="https://www.britishcouncil.org/sites/default/files/sub-saharan_africa_education_series_21_july_r.pdf"> impact on their learning opportunities during the Covid-19 lockdowns</a>.



In Ethiopia, parents are more likely to deny girls access to mobile phones as they want to protect them from<a href="https://www.teachingenglish.org.uk/sites/teacheng/files/2022-04/Girls%27%20education%20and%20empowerment.pdf"> exposure to unsafe content</a>. One <a href="https://www.girlsandmobile.org/">study</a> found that for boys, cost is the biggest barrier to mobile phone access, while for girls, social norms are the main constraint; a large majority of boys do not have to seek permission to use technology while nearly half of girls do.



Globally, the<a href="https://www.girlsandmobile.org/"> disparity between boys and girls</a> is so great that boys are 50% more likely to own a mobile phone than girls and more than half of girls have to borrow a mobile phone if they want access, compared with only 28% of boys.



There is also significant disparity in how girls and boys are treated in the classroom itself, especially in STEM subjects. Teachers often demonstrate the same gender biases as parents, sub-consciously encouraging boys ahead of girls by calling on them first or more often to answer science-related questions. Teaching materials and textbook examples further deepen the divide with more references to boys and male success than that of women and girls.



Data from the OECD reveals a strong correlation between 15-year-old boys&#8217; self-confidence in STEM subjects and their higher performance versus girls’. Yet boys&#8217; brains are no more effective at STEM problem-solving than girls&#8217;, and there are<a href="https://pubmed.ncbi.nlm.nih.gov/29484644/"> negligible gender differences in children’s maths skills</a>. What evidence does show, however, is that girls&#8217; self-perception, due to community pressures and biases, are the primary reason for girls succeeding less in many countries in STEM studies and careers.



The most immediate way to nurture their confidence in the sciences is to increase girls’ exposure to high-quality, inclusive science instruction in schools. Girls’ familiarity with STEM is a key part of building their self-confidence in it.



That’s why the British Council is tackling some of these issues in a drive to increase and sustain access, interest, participation and performance of girls in these subjects at all levels:



<ul class="wp-block-list"><li>Making Coding Fun for Girls After-school coding clubs #LearningToCode are being piloted in Kenya and South Africa to give girls exposure and access to technology and build their confidence through fun activities in a creative and safe environment.</li><li>Training Teachers on Gender Inclusion Through teacher training across many African countries, in conjunction with ministries of education and teacher training colleges, we are skilling-up teachers to be more gender inclusive in the classroom and making them aware of biases and how they can affect girls.</li></ul>



<ul class="wp-block-list"><li>Digital Skills in the Classroom We work with the Wikimedia Foundation in Ghana on our Skills for Success programme which is focused on building teacher training colleges capacity to skill-up teachers in digital technology so they can bring that to the kids in their classrooms. This is particularly important for girls who are less likely to get exposure to technology at home.</li><li>School Leadership Training We work with school leaders across Africa to teach more inclusive styles of school management, promoting reflective learning.</li></ul>



These are just some examples of the systems changes that can be achieved. We encourage aid agencies, ministries of education and other partners to consider the wide-reaching benefits of creating societies in which&nbsp;girls can achieve their potential in STEM.



The British Council welcomes the opportunity to co-create impactful, needs based education programmes in partnership with like-minded organisations.







Andrew Zerzan is the Deputy Regional Director and Director of Education, Arts &amp; Civil Society for British Council in Sub Saharan Africa.



Andrew is an international programme leader, passionate about finding solutions to complex social and cultural challenges. He has more than 15 years’ experience in international programme strategy, partnership development and project management.



Andrew joined the Council in 2014 and has held several roles including, Global Director of Education, Global Head of Business Delivery, and Director of Risk and Security.



Prior to joining British Council, Andrew worked with several organisations including the World Bank, Gates Foundation and Reed Elsevier plc. In 2004 he launched a start-up education business, pioneering a high-tech approach to learning and connecting people from different cultures and geographies.



Andrew was commended by the City of London for innovative risk management in the Risk Management Awards of 2014.



Andrew has experience of living and working in Europe, Africa and Asia, and is currently based in Nairobi with his family and dog. Andrew has weathered the pandemic appreciating the ingenuity of African youth to thrive regardless of the challenges they face.

Ghana_00693_British Council

Closing the gender gap in African STEM education

<div class="wp-block-image"><figure class="aligncenter size-full"><img loading="lazy" decoding="async" width="1200" height="628" src="https://cms.cnbcafrica.com/wp-content/uploads/2022/04/CNBC-article-option-1.png" alt="" class="wp-image-416689" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2022/04/CNBC-article-option-1.png 1200w, https://cms.cnbcafrica.com/wp-content/uploads/2022/04/CNBC-article-option-1-300x157.png 300w, https://cms.cnbcafrica.com/wp-content/uploads/2022/04/CNBC-article-option-1-820x429.png 820w, https://cms.cnbcafrica.com/wp-content/uploads/2022/04/CNBC-article-option-1-160x84.png 160w, https://cms.cnbcafrica.com/wp-content/uploads/2022/04/CNBC-article-option-1-768x402.png 768w" sizes="auto, (max-width: 1200px) 100vw, 1200px" /></figure></div>



COP26 was a ‘mixed bag’ for developing countries, unlocking some much-needed funding mechanisms, even as it under-delivered in other areas. The issue of funding is one that has been high on the international agenda for many years, along with the shortfall between pledges made to aid with climate adaption and mitigation and what was actually realised.



Coming away from COP26, the shift in the discussion around financing was highlighted by an agreement between the United State,&nbsp;France, Germany, the United Kingdom, the European Union (EU) and South Africa to decarbonise South Africa’s energy sector and finance mitigation measures to protect against job losses in the sector.



A just energy transition



As the largest emitter of carbon in Africa, South Africa’s Just Energy Transition Partnership (JETP) deal will demonstrate that a shift from a heavily coal-dependant country to a decarbonised one is not only possible, but that it can be done without sacrificing economic growth.



The keynote sessions of&nbsp;<a href="https://www.enlit-africa.com/welcome">Enlit Africa [formerly African Utility Week and POWERGEN Africa]&nbsp;[7-9 June 2022]</a>, will focus on understanding the finance options, the priorities and the roadmap of the&nbsp;JETP. But more importantly,&nbsp;the discussions expand the conversation across the continent, asking how finance of that magnitude can be mobilised to support Africa’s energy transition.



<h2 class="wp-block-heading"><a href="https://bit.ly/3MwqMM9">REGISTER HERE TO ATTEND AS A DELEGATE</a></h2>



It&#8217;s all about collaboration



The theme for this year’s event – Collaboration to fast forward Africa’s energy transition – recognises that collaborative efforts will&nbsp;drive the energy transition. Collaboration between public sector and private sector; between utilities, regulators and government; across generation to distribution, from manufacturer to financier to end user &#8211; all have a role to play in ensuring the energy system of tomorrow is sustainable, affordable and achievable.



More broadly, the realities of Africa in transition need to be considered and carefully planned to avoid a multitude of challenges. These include not adding to the debt burden of African countries in order to meet climate ambitions; and recognition that as the continent that contributes the least to global emissions, Africa is in a unique position to ask for meaningful financial and technical contributions from the international community.



Attendees and exhibitors at Enlit Africa represent the leading suppliers, experts and energy professionals from Africa and around the world, offering an opportunity to network and engage with utilities, municipalities, OEMs, government, regulators, EPC, developers, financiers and the entire energy ecosystem.



A deep dive into topics of importance



Conference sessions focused on alternative funding mechanisms and public private partnerships will address some of the questions around financing, while roundtable discussions will provide an opportunity for attendees to dig deeper into the plethora of climate funds and opportunities for impact investment and discuss the ever important question of risk allocation and mitigation.



Generation from both traditional and renewable energy will include&nbsp;discussions on efforts being made to convert existing power generation plant,&nbsp;electrification projects and alternative generation options such as offshore wind and hybrid systems. The attendees will also discuss how disruptive renewable energy systems are providing an element of security for industrial and commercial concerns around the continent as a means of addressing power outages and unreliable supply.



Commercial and industrial delegates will get to explore the role of energy storage,&nbsp;wheeling tariffs at municipalities and self-generation. All of these discussions will provide tangible, actionable steps for those entities interested in generating their own electricity and explain how energy storage will underpin the shift to more renewable energy integration for municipalities, utilities and private generators.



Information about the programme, speaker line up, networking, roundtable and site visit opportunities can be found by visiting <a href="https://www.enlit-africa.com/the-event/Learn/programme">https://www.enlit-africa.com/the-event/Learn/programme</a>



Disruptive technologies



An entire section of the programme will be dedicated to the role of storage in the power sector, including how to&nbsp;integrate battery energy storage systems [BESS] at a municipal level,&nbsp;storage, renewable energy and society; and the role that new generation and storage is playing in Africa’s mining sector.



Appreciating the technical, financial and logistical opportunities and areas of caution will provide utilities, governments and all power sector players the ability to plan an energy transition that addresses the objectives of SDG7 and meets Nationally Determined Contributions announced during COP26. Additionally, it will also open up avenues for new business models. Specifically, the conference will focus on the development of the hydrogen economy, understanding the development of national hydrogen strategies and the economic structures and pricing that will support it.



<h2 class="wp-block-heading" id="h-register-here-for-free-exhibition-pass"><a href="https://bit.ly/3LlkZsH">REGISTER HERE FOR FREE EXHIBITION PASS</a></h2>



Back at the CTICC <a href="https://www.enlit-africa.com/welcome">Enlit Africa</a> will return to the CTICC in Cape Town with a world-class exhibition, showcasing the latest technology and services on offer in the sector. Known for its compelling content and speakers, the organisers will not disappoint, with two keynotes and most of the content presented in speaking hubs on the expo floor. Conference delegates will also be able to enjoy the networking and site visits that the event has popularised for over two decades. Strict health and safety COVID-19 protocols will be observed.



 Industry support Eskom, the Department of Mineral Resources and Energy and the City of Cape Town have been official hosting partners of the event for many years and 2022 will be no exception. <a href="https://www.esi-africa.com/" target="_blank" rel="noreferrer noopener">ESI Africa</a>, the continent’s leading news provider for power and energy news, is the official host publication.



<a href="https://www.enlit-africa.com/welcome">Enlit Africa (formerly African Utility Week and POWERGEN Africa)</a> is Africa’s leading exhibition and conference, gathering the power and energy industry’s most influential professionals and decision makers from across the continent for three days of relevant, accredited technical and strategic conference seminars, valuable networking opportunities and access to world-class products and solutions.



<a href="https://www.enlit-africa.com/welcome">Enlit Africa</a> is organised by&nbsp;<a href="http://www.wearevuka.com/" target="_blank" rel="noreferrer noopener">The Vuka Group&nbsp;</a>(formerly&nbsp;<a href="http://www.clarioneventsafrica.com/" target="_blank" rel="noreferrer noopener">Clarion Events Africa</a>), a leading Cape Town-based and multi-award-winning organiser of exhibitions, conferences and digital events across the continent in the infrastructure, energy, mining, mobility, ecommerce and CX sectors. Other well-known events by The Vuka Group include&nbsp;<a href="http://www.drcminingweek.com/" target="_blank" rel="noreferrer noopener">DRC Mining Week</a>,&nbsp;<a href="https://www.africaminingforum.com/" target="_blank" rel="noreferrer noopener">Africa Mining Forum</a>,&nbsp;<a href="https://www.nigeriaminingweek.com/" target="_blank" rel="noreferrer noopener">Nigeria Mining Week</a>,&nbsp;<a href="https://generationehq.com/smarter-mobility-africa/" target="_blank" rel="noreferrer noopener">Smarter Mobility Africa</a>,&nbsp;<a href="https://ecommerce-africa.com/" target="_blank" rel="noreferrer noopener">ECOM</a>&nbsp;and&nbsp;<a href="https://cemafricasummit.com/" target="_blank" rel="noreferrer noopener">CEM Africa</a>.



<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="Enlit Africa - Attend as a delegate" width="500" height="281" src="https://www.youtube.com/embed/FgRp3YtAWU4?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div></figure>

download

ENLIT AFRICA TO ADDRESS AFRICAN POWER SECTOR CONCERNS AROUND ENERGY TRANSITION

<figure class="wp-block-image alignwide size-full"><a href="https://www.pps.co.za/reports/highlights-for-2021"><img loading="lazy" decoding="async" width="740" height="416" src="https://cms.cnbcafrica.com/wp-content/uploads/2022/04/740-x-416.jpg" alt="" class="wp-image-416433" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2022/04/740-x-416.jpg 740w, https://cms.cnbcafrica.com/wp-content/uploads/2022/04/740-x-416-300x169.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2022/04/740-x-416-160x90.jpg 160w" sizes="auto, (max-width: 740px) 100vw, 740px" /></a></figure>



Johannesburg, 12 April 2022 – The Professional Provident Society (PPS Insurance Company), the financial services company focused solely on providing financial solutions for graduate professionals, has ended its 2021 financial year in a favourable position amid an increase in life insurance claims payments in the second year of the COVID-19 pandemic, exceeding anything witnessed in its 80-year history.



While claims reduced operating profit, PPS credits its performance to its ability to stay true to its purpose of assisting professionals in protecting their income and assets and enhancing their financial security. This is a testament to the strength of PPS’s unique mutuality model, which continued to provide a high level of stability in a very unpredictable environment. In 2021, PPS was able to return enormous value to members through meeting claims and making special benefit allocations to the members’ Profit-Share Accounts due to its solid business strategy, fiscal management and long-term investment approach.



“Given the extraordinary events of the past two years, our focus was on paying valid claims. We were able to go further than our competitors were able to. This allowed us to assist our members as much and as fairly as possible,” says Izak Smit, PPS Group CEO.



“In 2021, the Group paid R6.1 billion in total benefits to members, up 27% from the R4.8 billion in 2020. With PPS’s strong balance sheet and solvency ratio, we were able to absorb this increase (excluding investment returns) without dipping into negative territory” adds Smit.&nbsp;



Sickness and Life claims amounted to R4.3 billion in 2021, up 36% on the R3.1 billion in 2020. Of this, PPS paid almost 12 000 COVID-19-related claims – or one in 12 members – amounting to R1.4 billion. There were 11&nbsp;587 COVID-19 sickness claims at R424 million in total. COVID-19 death claims at 193 totalled R975 million in 2021.



Commenting on the performance, Smit says: “Although the claims increased, PPS was still able to allocate R5.5 billion as Profit-Share to our members with qualifying products this year (R2.2&nbsp;billion in 2020). Contributing to this was a great year in the investment markets where our assets performed brilliantly. At PPS, we follow a well-diversified and long-term approach in our investment strategy. This long-term view is a competitive investment edge for PPS. Like a good financial adviser would caution, it is important to remember that past performance is no guarantee of future results.”



Smit adds that new business is the lifeblood of a life assurance business, with the annual premium income of new business written in 2021 in South Africa and Namibia increasing by 23%.



The Group’s insurance gross earned premiums was up 4.7% on the R5.1 billion of 2020. The financial impact of the second and third waves of COVID-19 was felt in 2021. The effects of the third wave came through in the claims experience in the third and fourth quarters of 2021.



All the subsidiaries showed good growth. PPS Investments, which reached its 15-year milestone, has grown into a significant business, recording another excellent year. Gross new investment flows to PPS Investments were R7.1 billion. Surplus before interest and tax of R103 million was up 57% in 2021 This growth is due to fiscal discipline in expense management, good new business and individual fund performance.



We believe in innovating according to the evolving needs of graduate professionals to bolster their benefits and savings capabilities across product portfolios. We are passionate about investing in developing the next generation of professionals who will have a profound impact on South Africa’s future.



Through the University Support, Bursary, Graduate Development and the Learned, Engaged, Accelerated Professionals Work-Readiness (LEAP) &nbsp;programmes, the PPS Foundation makes career journeys a reality.



Looking ahead, Smit says:



“PPS remains in a strong financial position to honour future long-term commitments to our members. We continue to be grateful to our employees and members for their loyalty and our financial adviser network for their immense contribution. There can be no doubt that our shared resilience is what has guided our actions and decisions in supporting and returning value to our members”.



Ends



About PPS



PPS boasts in excess of 150 000 members who enjoy access to a comprehensive suite of financial and healthcare products that are specifically tailored to meet the needs of graduate professionals.



PPS is the largest South African company of its kind, exclusively for graduate professionals, that still embraces an ethos of mutuality, which means that it exists solely for the benefit of its members. Thus, PPS members with qualifying products from PPS Insurance, PPS Investments, PPS Short-Term Insurance and Profmed share in the profits of PPS Insurance, PPS Investments, PPS Short-Term Insurance and PPS Healthcare Administrators via annual allocations to the unique PPS Profit-Share Account. PPS membership provides access to the following tried, tested and trusted products and services: PPS Life Insurance, PPS Short-Term Insurance, PPS Financial Advisory, PPS Investments and Profmed Medical Scheme. Visit www.pps.co.za for more information.&nbsp;



PPS is a licensed insurer conducting life insurance business, a licensed controlling company and an authorised FSP.

PPS ENDS YEAR POSITIVELY DESPITE INCREASED CLAIMS IN YEAR TWO OF PANDEMIC

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="258" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/11/Insights-Resources-and-energy-1910x600-1-820x258.jpg" alt="" class="wp-image-413451" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/11/Insights-Resources-and-energy-1910x600-1-820x258.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/11/Insights-Resources-and-energy-1910x600-1-300x94.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/11/Insights-Resources-and-energy-1910x600-1-160x50.jpg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2021/11/Insights-Resources-and-energy-1910x600-1-768x241.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/11/Insights-Resources-and-energy-1910x600-1-1536x483.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2021/11/Insights-Resources-and-energy-1910x600-1.jpg 1910w" sizes="auto, (max-width: 820px) 100vw, 820px" /></figure>



In 2019, the International Energy Agency (IEA) released a <a href="mailto:https://www.iea.org/reports/africa-energy-outlook-2019">report</a> highlighting that one in two people born between then and 2040 would be on the African continent which would overtake both China and India as the most populous region in the world. This growth presents both a challenge and opportunity as stakeholders review the role of the resources and energy sector in driving sustainable and responsible growth.



While Africa has many challenges and is regularly positioned as playing second-fiddle to the likes of China and India who have dominated the BRICs narrative for the last decade, we cannot ignore some of the themes playing out:&nbsp;



<ul class="wp-block-list"><li>Africa is emerging as a global force in oil and gas markets and its growth in oil and energy demand is forecast to outstrip China in the coming years. </li><li>As African populations become more mobile, car fleets are expected to double. The so-called “motorisation rate” estimates that the African continent only has 42 cars per 1000 individuals, compared to the global average of 182 in developed markets. Many of these have poor fuel efficiency designs and this increase in demand will drive adoption of cleaner technology. </li><li>Africa is expected to be the third largest natural gas market in the world and the emergence of the “Hydrogen Economy” and innovative players like JSE-listed Renergen are likely to drive this energy shift materially. </li><li>The Angolan Sovereign Wealth Fund is expected to benefit from its investment in a UK-based rare earths processing facility supplied by an Angolan deposit &#8211;&nbsp; one of only three major producers outside of China – and this is expected to be driven by electric vehicles and clean energy trends bringing much needed revenue into Angola. </li><li>More than 70% of the worlds Cobalt reserves are mined in the Democratic Republic of Congo (DRC) which has been described as the “Saudi Arabia of the electric vehicle age”. </li><li>Zimbabwe and the DRC are home to two of the ten largest lithium deposits in the world and with the global lithium <a href="mailto:https://www.marketsandmarkets.com/Market-Reports/lithium-ion-battery-market-49714593.html">battery market</a> expected to grow from $41bn in 2020 to $116bn in 2030, this represents an opportunity for these countries to attract foreign investment.</li></ul>



<ul class="wp-block-list"><li>Major commodity trading houses are ramping up their investments in Africa to incorporate niche commodities including lithium, biofuels and other renewable energy spin-offs and this theme is leading to improved price discovery and interest in the African energy market as it transitions from fossil fuels to clean energy over time.</li></ul>



These are just a handful of the exciting themes playing out now, but the natural question comes in: Will Africa simply be an extractive market where foreign investors reap the benefits, but the local communities lose out?



Based on our extensive analysis of the continent, we believe the answer to this question is a resounding “no”. Local content regulations and beneficiation should be the focus for many governments to ensure inclusive economic growth for the continent.



While the mining and resources sectors are significant in terms of opportunity size, it now accounts for the minority of Foreign Direct Investment (FDI) coming into the continent. Long-term investors are bulking up investment in the likes of telecommunications and downstream support services as well as other critical infrastructure such as water, energy and transport. The number of LNG and planned LNG projects in Mozambique, Nigeria, Ghana, Egypt, Mauritania and Senegal are evidence that Africa is preparing for the energy transition. <a href="mailto:https://www.ey.com/en_gl/tax/why-africa-is-becoming-a-bigger-player-in-the-global-economy">Research</a> out of consulting firm EY captures this trend at a practical level where they showed that extractive activities accounted for more than half of FDI each year between 2005 and 2011. But between 2011 and 2018, this trend had fallen every year, leading Rod Wolfenden – EY Africa Markets Leader – commented as follows:



“The big building blocks are now in place. Africans are the beneficiaries, but so are the next wave of investors, who will have an easier time developing their projects.”



These building blocks are translating into big, exciting projects that will ultimately have a transformative impact on the African continent and its energy mix. The UN Sustainable Development Goals and the Paris Climate Accords are adding further impetus to these investments.&nbsp;



Morocco has built the world’s largest concentrated solar energy farm which is estimated to have a reduction of CO2 emissions in Morocco by as much as 800&nbsp;000t per year.



The second largest project is in Egypt where a $4bn investment is expected to prevent two million tonnes of CO2 emissions each year.



Nigeria has set itself an ambitious goal of transitioning its energy mix to 30% renewables by 2030, while South Africa is regarded as a trailblazer in the renewable and clean energy spaces.



Africa is taking its place in the global resource market and we as Africa’s leading Pan-African banking group believe that our combination of industry insights and financial solutions position us to be the banker of choice for entrepreneurs who want to add to the building blocks of the future.

Insights-Resources-and-energy-1910×600-1

Where does Africa fit into the global resource mix?

Author: Liza Eustace, Head: Healthcare, Construction and Hospitality



The ability to roll out credible, sustainable and high-volume Covid-19 vaccination programs will likely be the single biggest driver of economic recovery in Africa over the next 24 months. Economies that fail to execute on this will be left behind as global trading resumes. Africa is a net importer of goods and services, therefore with the closing of borders and a vaccination rate of &lt; 2% of Africa’s 1.2 billion population, it will leave the continent well behind the rest of the world. The cost will be devastating. We therefore need to increase our efforts in the most collaborative way.



The devastation to numerous sectors within our economy is motivation enough to do the right thing. &nbsp;Tourism has been one of the hardest hit and understandably continues to increase the burden of unemployment which is now closer to 35% and climbing. In the recent British and Irish Lions tour, the hospitality sector has lost out to approximately 30&nbsp;000 traveling fans and an estimated R6 billion in economic activity associated with the tour. As the majority of our hotels sit empty and restaurants and bars are subject to unpredictable closure periods, it’s hard to believe that we will ever return to a life without social distancing and masks.



But there is hope. After spending a week interviewing senior management from an array of key stakeholders in the vaccine rollout, I was left with a feeling of optimism and clarity on what is required to overcome this pandemic (<a href="https://cib.absa.africa/insights2021/healthcare-insights/">see link to the Healthcare video series</a>). With continued efforts around collaborative partnerships, there has never been a better time to take advantage of key lessons learnt.



What have these been?



<h2 class="wp-block-heading">Local manufacture</h2>



Local manufacture and procurement should be at the centre of our future to ensure economic recovery and the meeting of healthcare challenges going forward. While the healthcare sector has very much been perceived as a defensive sector for all stakeholders, the events of 2020 and 2021 have provided a platform to re-imagine healthcare in emerging markets. Lack of manufacturing capacity has sorely hampered the African continent’s response to the Covid-19 pandemic and has resulted in Africa being at the mercy of the rest of the world when it has come to the supply of Protective Personal Equipment (“PPE”), medical devices and more recently for the supply of vaccines.



Whilst the South African (“SA”) vaccine rollout was slow to start, hampered by some initial supply challenges, the country is now considered one of the fastest measured on a weekly basis. To reach optimal vaccination levels, about 300K vaccines need to be administered per day, a target we are fast approaching. Across the rest of Africa, the African Vaccine Acquisition Task Team (“AVATT”), set up by President Cyril Ramaphosa, has played a meaningful role in supporting Africa CDC’s objective to ensure that at least 60% of Africans are vaccinated.



There is no doubt that the partnership created between JSE-listed pharmaceutical group Aspen Pharmaceutical Group and Johnson and Johnson has significantly fast tracked this delivery of vaccines into Africa with a single-dose injection, well suited for the continent. This has been followed by the recent announcement from The Biovac Institute and Pfizer to produce at least 100 million doses per annum. It was easier to import vaccines in the past as demand and economies of scale were not sufficient to manufacture our own vaccines. Covid-19 has provided economies of scale to start manufacturing, and whilst contract manufacturing is not the endgame, it is a necessary first step in the right direction. It is no secret that there is a race to manufacture SA’s own vaccine and players like Aspen and Biovac will be well placed to lead in this space, creating a blue-print for the rest of Africa.



Whilst the supply side is being geared up, just as critical is to ensure a sustainable and predictable demand from the continent, enabling a more cost-effective entry point. According to the CEO of Imperial Logistics, it is currently about 10x more expensive to deliver vaccines within Africa versus the rest of the world. Containment of costs can be achieved through increased use of data and technology – to digitally integrate and improve infrastructure &amp; development and through the facilitation of The African Continental Free Trade Area (“AfCFTA”) that started trading in January 2021. In addition, long term support from governments will significantly improve healthcare and vaccine accessibility. Establishment of a supply chain network within Africa for storage and distribution will also need to be considered alongside manufacturing, despite the enormous capability that already exists across logistic companies.



<h2 class="wp-block-heading">Public-Private Partnerships (“PPPs”)</h2>



The vaccine roll out has proven the ability of public and private sector to successfully collaborate, spearheaded by Business for South Africa (“B4SA”). PPPs must continue to manifest themselves in something resembling more business as usual than an exceptional occurrence driven by a crisis. If this can happen, the rollout of NHI may become something easier to imagine, notwithstanding the financial implications that remain unsolved. An improving PPP regime could assist in remediating many of the gaps that exist today: increasing front line workers (both doctors and nurses), access the uninsured market (in conjunction with work being done in the insurance sector through data mining, technology, and telemedicine) and lastly by bolstering the healthcare system through leadership and best practise management. Importantly, through PPPs such as The Biovac Institute, we can create sustainable business models that meet the requirements of the country to respond to future pandemics. What is clear from the events of the last 18 months is that a well-run and capacitated public sector is an essential part of the healthcare ecosystem, but the private sector has the skills, capital and reach to be able to rapidly bring projects online.



<h2 class="wp-block-heading">Health Illiteracy</h2>



Get vaccinated because the cost of not doing so, is simply too high. The facts speak for themselves. The vaccines work and they are safe. In the US, reports by Andy Slavitt (former adviser to the Biden administration on Covid-19) suggest that 98-99% of the deaths are from unvaccinated patients. Closer to home, the infection and death rates in front line workers has dramatically decreased in the third wave versus the first, whilst our ICU and high-care beds are home to the unvaccinated. There is a consensus amongst the healthcare players that the economy is falling prey to those that are health illiterate and do not understand the importance of being vaccinated and / or are afraid of what the vaccine does to your body. And perhaps there is merit to this, given the lack of effective health campaigns and consistent messaging available to the public. The population has been subjected to information overload, misinformation, and fearmongering. Therefore, creating awareness through education and empowering patients with the facts and knowledge that vaccines are safe, is key to getting more people vaccinated.



Unless we break the chain of transmission, the virus will continue to mutate and we run the risk of current vaccines not being effective as a result. As our children remain unvaccinated, we need to safeguard them, at the very least, from future unknown variants and known effects of “long-Covid”. &nbsp;



In addition to this, an unvaccinated population will continue to put strain on the hospital systems where utilisation levels in critical clinical pathways such as oncology has seen a dramatic decline as a result. The long-term impact of this and what we know to be “long-Covid” will ultimately increase the cost of insurance as recovery is protracted. Whilst the current reserves within the insurance industry can offset healthcare cost increases over a certain period, we need to protect our health more strategically to adequately curb these increases.&nbsp;



The events of the last 18 months have proven that the healthcare sector is a dynamic one. The industry has responded in a collaborative manner, paving the way for a more independent and sustainable future. There are plans to produce our own vaccines across the continent, bolstering local manufacturing and procurement, whilst placing more confidence in a more cohesive public-private partnership. As an organisation which specialises in the funding of companies across multiple industries, we look forward to applying our experience and delivering innovative initiatives to raise awareness, encourage the right dialogue and ultimately support and grow the economies across the continent.

Absa Insights Banner_1910x600

Vaccinating for Economic Recovery and Growth

Representing Africa’s premier energy event, African Energy Week 2021 comprises an interactive exhibition and networking conference with the sole focus to address the continent’s energy challenges, enhance multi-sector investment, and drive Africa into a new era of energy and economic growth.



African Energy Week (AEW) 2021, organized by the African Energy Chamber (AEC) and hosted in partnership with South Africa’s Department of Mineral Resources and Energy, represents the AEC’s annual conference and Africa’s premier energy event. With a strong mandate to make energy poverty history by 2030, AEW 2021 – taking place on the 9th-12th of November 2021 at the V&amp;A Waterfront in Cape Town – unites global and African energy stakeholders, providing a collaborative platform for discussions on Africa’s energy future.



AEW 2021 comprises a four-day high-level networking experience, which will host delegations and ministers from Africa’s top energy markets, as well as executives from both the private and public sector. The event will not only be transformative for the continent’s energy sector, but facilitate a much-needed economic recovery in the wake of the COVID-19 pandemic.



What makes AEW 2021 both a unique and innovative conference is the event structure. The AEC has created and utilized the revolutionary African Energy Village concept &#8211; comprising a hub of venues designed to host over 2,000 delegates &#8211; to ensure the safety of attendees, while enabling participants to maximize on the event’s comprehensive program. Taking place across multiple venues at the V&amp;A Waterfront, AEW 2021 is not only critical for collaborative energy sector dialogue – providing more session and function opportunities compared to traditional conference structures – but creates fundamental opportunities for both the tourism and business sectors, ensuring conference benefits extend into the wider economy. &nbsp;&nbsp;



The primary objective of AEW 2021 is to give and emphasize African stakeholders voices in global energy dialogue, whether it be on oil and gas, financing, or the energy transition. The conference is dedicated to the continent and its people, and not only places African narratives, ideas, and solutions at the center of conversation, but ensures they take a leading role in dialogue.



“The AEC is committed to Africa’s energy security, independence, and growth, and through AEW 2021, is focused on facilitating partnerships and deals, driving Africa-directed investments, and accelerating multi-sector energy developments across the continent. Africa is rich with resources and with a young, willing population, coupled with established enabling environments and demonstrated political will, the continent is well on its way to realize its full energy and economic potential,” stated NJ Ayuk, Executive Chairman of the AEC.



Notwithstanding the role of renewables in the transition to a clean energy future, the African Energy Chamber firmly believes that oil and gas will continue to play a critical role in eradicating energy poverty and driving socio-economic growth across the continent. With valuable hydrocarbon resources awaiting exploitation and investment, Africa is well positioned to use oil and gas developments as a catalyst for sustainable economic growth, and AEW 2021 seeks to emphasize this.



“Oil and gas will continue to be needed and essential for promoting global socio-economic development, especially in energy poor countries, mostly in Africa and specifically in sub-Saharan Africa. Africa should not relent on vigorously pursuing the development of its oil and gas industry, and increasing production to meet our increasing needs in order to improve access to regular energy for our economic advancement. I have no doubt that the future of Africa’s oil and gas industry is still bright despite the global energy transition uptake,” stated H.E. Chief Timipre Sylva, Minister of State for Petroleum Resources, the Federal Republic of Nigeria.



The AEC has reiterated and continues to promote the African position on the future of the continent’s energy sector, and by advocating personal responsibility, free markets, individual liberty, and an enabling environment for investors, AEW 2021 promotes multi-sector investment and integration as an ideal way to enhance local capacity and reduce the reliance on foreign aid.



“Rather than abandon the continent in the face of a challenge, the AEC has reaffirmed their commitment to African people, African business, and African energy, and will use AEW 2021 to give African people a voice in global energy dialogue, expand their participation in the continent’s energy growth, and maximize socio-economic benefits associated with the sector’s transformation,” added Sergio Pugliese, President of the African Energy Chamber in Angola.



Emphasizing the African position in global energy dialogue, AEW 2021 is proud to host industry delegations, movers and shakers, and African energy leaders from across the continent. Ministerial confirmations from resource-rich nations including Ghana, South Africa, Senegal, Nigeria, Angola, Niger, South Sudan, Namibia, Kenya, Uganda, Somalia, Mozambique, Equatorial Guinea, the Republic of Congo, and the Democratic Republic of the Congo, all confirm the value of AEW 2021 and the importance of ensuring the discussion on Africa remains in Africa.



Meanwhile, Africa’s premier energy event has seen commitments made by esteemed oil and gas organizations such as the Organization of Petroleum Exporting Countries, the Gas Exporting Countries Forum, the African Petroleum Producers Organization, the African Refiners and Distributors Association, the African Development Bank, and many more. Promoting collaboration, integration, and a cooperative approach to energy sector growth, AEW 2021 will promote the role of every industry in Africa’s energy sector, recognizing the value that each energy form has in driving socio-economic growth.



What’s more, AEW 2021 recognizes the value of Africa-international partnerships and collaboration, emphasizing the role that international financiers and stakeholders will play in investing in African opportunities, transferring critical skills, and accelerating oil and gas developments across the continent. By providing a suitable platform for networking, engagement, and dealmaking, AEW 2021 will facilitate the deals that will drive Africa’s energy growth, and by proxy, enhance partnerships and domestic capacity. In light of the lucrative opportunities in Africa, international delegations from Germany, Russia, the United States, the United Kingdom, Norway and Canada, have all committed to AEW 2021.



Finally, with the COVID-19 pandemic bringing new and profound challenges to large-scale events in 2021, AEW 2021 is committed to the health and safety of delegates and staff. AEW 2021 has not taken the pandemic lightly, and by implementing strict mitigation measures including testing facilities – provided in partnership with Health Passport Worldwide – sanitizing stations, limited function attendance, and a multi-venue approach, the event is prepared to welcome delegates, speakers, exhibitors and more to AEW 2021 in Cape Town.



AEW 2021, in partnership with South Africa’s Department of Mineral Resources and Energy DMRE, is the AEC’s annual conference, exhibition and networking event. AEW 2021 unites African energy stakeholders with investors and international partners to drive industry growth and development and promote Africa as the destination for energy investments.



For more information about Africa’s premier energy event, please visit www.aew2021.com or www.energychamber.org and/or reach out directly to Amina Williams at <a href="mailto:amina.williams@energychamber.org">amina.williams@energychamber.org</a>



For registration related enquiries, please contact <a href="mailto:registration@aew2021.com">registration@aew2021.com</a> &nbsp;&nbsp;



For sales-related enquiries, please contact <a href="mailto:sales@aew2021.com">sales@aew2021.com</a> &nbsp;



For media-related enquiries, please contact <a href="mailto:media@aew2021.com">media@aew2021.com</a> &nbsp;



For speaker opportunity-related enquiries, please contact <a href="mailto:speakers@aew2021.com">speakers@aew2021.com</a>

thumbnail_making-energy-poverty-history

Making Energy Poverty History by 2030: African Energy Week 2021 Unites African Oil, Gas and Renewable Energy Leaders to Discuss the Future of the Continent’s Energy Sector

We’ve all been there. You’ve got a big presentation coming up and need the data to back up your findings,&nbsp;but you don’t have time to convert vast tables of data into eye-catching visualisations. Or you want to drill down into your KPIs to delve into the details, but the data is already out of date.



While data is undoubtedly a goldmine of insights into the state of your business, unlocking those insights can be time-consuming, complex, and difficult to do at scale.



For clothing retailer PEP, issues like these are resolved more efficiently and cost effectively since using the visual analytics platform, Tableau.



Let’s take a closer look at how PEP empowered its team with fast, efficient access to the latest data around stock management.



<h2 class="wp-block-heading" id="h-getting-a-handle-on-rejected-stock">Getting a handle on rejected stock.</h2>



<div class="wp-block-image"><figure class="aligncenter size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/10/warehouse-820x547.jpeg" alt="" class="wp-image-412541" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/10/warehouse-820x547.jpeg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/10/warehouse-300x200.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/10/warehouse-135x90.jpeg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2021/10/warehouse-768x512.jpeg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/10/warehouse-1536x1024.jpeg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2021/10/warehouse-scaled.jpeg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption>Worker with scanner making review of goods in warehouse</figcaption></figure></div>



PEP is Africa’s biggest and most trusted single brand retailer. It employs 17,000 people, operates around 2,400 retail stores, and sells 760 million products a year. Behind the scenes, it has three distribution centres and 13 transport centres occupying more than 250,000m2 — to put that in perspective, that’s the size of 46 football fields.



Three groups of stakeholders at PEP require insights into rejected stock to handle dead stock management.



The first group affected by dead stock was the finance team. They had to write off rejected stock – which amounts to approximately millions of Rands. The stock takes up essential storage space in distribution centres or requires a third party to store it, resulting in a huge potential loss of revenue.



<a></a>For this team to get a handle on rejected stock means potentially recouping some of that money by issuing a claim to the supplier.



Next is the quality assurance team — they act as the liaison between the distribution centres and Head Office. They require a consolidated view on the data to manage the rejected stock and be aware of what happened between the two departments, keeping a centralised view of Head Office lodging claims and the distribution centres storing stock.



<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">Finally, the supply chain team needs accurate data to reflect the whereabouts of stock in the distribution centres, which is no joke when you’ve got 250,000m2 of inventory to track, plus storage space.</blockquote>







Step 1: automating time-consuming processes.



Data on rejected stock comes from two database systems — an on-premise Oracle database and a Google cloud environment — and 12 main tables. To get actionable insights that support decision making, it needs to be combined with data from six supplementary tables with information on the product, supplier, location, and retail calendar.



“As you can imagine, putting all that data together was tedious and complex, and it was becoming expensive because we had to involve our team of developers to extract data before we could clean it up and present it,” said Izak Visagie, Systems Analyst at PEP.



The company turned to Tableau to automate these time-consuming manual processes and help unlock actionable insights faster and more effectively, as well as to extract and prepare the data for visualisation and analysis.



“Tableau makes data visualisation painless from start to finish. We didn’t have to do any scripting, coding, or programming to get started. It was just drag and drop to connect to the databases and pull in the right tables,” Visagie explained.



Step 2: creating and sharing workbooks.



When the data was ready for visualisation, Visagie passed it to his colleague Sharon Pather, Information Analyst, who created a workbook on Tableau Server. “Tableau is fairly new to me, and I’m really enjoying the journey so far,” she commented. “You can clearly see the rejected stock and with the help of Tableau it’s much more visually appealing.”



She created a minimum viable product (MVP) solution for users to test and discover their data. She could adapt and change the MVP solution quickly and easily as requirements shifted. They could even test the data integrity of new flows without having to start over. Visagie was particularly impressed with the dashboard’s real-time preview of what the final data output would look like.



Sharing workbooks for wider collaboration and analysis helped the team to realise the value of a data-driven culture and see the potential for other use cases across the business. Users can choose who to share it with and adjust permissions so people only have access to the data they need. “The workbook is very clean and simple. We can give colleagues across departments everything they need to analyse data and find out everything they need to know about rejected stock,” added Visagie.



<h2 class="wp-block-heading">Empowering users to do more with less.</h2>



<div class="wp-block-image"><figure class="aligncenter size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/10/store-820x547.jpeg" alt="" class="wp-image-412540" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/10/store-820x547.jpeg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/10/store-300x200.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/10/store-135x90.jpeg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2021/10/store-768x512.jpeg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/10/store-1536x1024.jpeg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2021/10/store-scaled.jpeg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /></figure></div>



Using Tableau, PEP has empowered users with self-serve access to the latest data to get better visibility of rejected stock. They can share that data with a wider audience, and the whole process is much faster than ever before. But what impact does that have on the business?



Well, the team handled their own data requirements without having to bring in developers to extract and combine it. Which means the development team is free to focus on other, more exciting things — and our team is empowered to do more.







<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">They also automated the entire process, which means they can get the latest data in 15 minutes instead of three days — a massive time saving. And finally, with better visibility of the stock, the company was able to recoup costs amounting to 30 million Rands in the first eight months of using Tableau.</blockquote>



“The solution has empowered the stakeholders to make smarter decisions based on the latest data,” concluded Pather. “We’re really proud of the value we can add to the business – and this was just our first use case! We can’t wait to roll out Tableau to support more of our business needs.”



To learn how Tableau could empower your team with smarter visual analytics, read more <a href="https://www.tableau.com/en-gb/trial/tableau-software?utm_campaign_id=2017049&amp;utm_campaign=Prospecting-CORE-ALL-ALL-ALL-ALL&amp;utm_medium=Paid+Search&amp;utm_source=Google+Search&amp;utm_language=EN&amp;utm_country=UKI&amp;kw=tableau&amp;adgroup=CTX-Brand-Core-EN-E-control&amp;adused=324776970708&amp;matchtype=e&amp;placement=&amp;gclid=Cj0KCQiAnKeCBhDPARIsAFDTLTKukDGkcy2KSer8C01hikd3DYIEtwAUT5Z2WDg5MMCd_g9Z80P4OjoaAhD8EALw_wcB&amp;gclsrc=aw.ds">here</a>.

abstract blur shopping mall

How Retail giant PEP adopted a data culture — and saved millions of Rands in the process

f31256128

The Eastern Cape Province is yours to Explore

Africa’s energy stakes are at a tipping point. We are on the edge of walking knowingly into quicksand by repeating habitual modes of thinking. We must rise from our silo-induced sink holes with new and aligned conversations about generation and distribution of energy on our continent. Professor Lwazi Ngubevana, Director: African Energy Leadership Centre (AELC) at Wits Business School starts the conversation to put divergent agendas on the same page.



In order for leaders to take this forward, he says, all decisions need to be data driven.



The starting point is to ask, “How do we move Africa’s energy from a crisis mindset to a solutions-focused mindset? What we need is a consolidated African decision making basis and strategic plan to take us away from multi-agenda interests to more cohesive community and environmental considerations.”



New energy leaders will have to take stock of, but not be driven by, political considerations when it comes to decision making in the energy and power sectors, and instead leverage data to drive their strategies.



Ngubevana explains, “It is imperative that we don’t take decisions solely based on political implications. For example, if the data reflects that renewable is more cost effective and sustainable than fossil fuel, then that is where we should be going. If the data says that global warming is happening at an accelerated pace compared to what our previous models showed, then we need to make our decisions faster based on that intelligence.”



It is going to take boldness from leaders across all sectors, driven by a commitment to make the transformation, he adds.



Data, he points out, informs the integrity of a decision. Whilst there is an overload in terms of how much data is available, organisations need to be able to harness the facts. In other words, they need to have trusted data-savvy teams who can sift through the noise.



“I see this data source approach as an opportunity,” he says, while acknowledging that it is a complex situation as business leaders have to make decisions based on the needs of different stakeholders.



He notes, however, that there has been an enabling shift in that lobbyists are making more headway and shareholder value has begun to be defined slightly differently. “Corporate value is now being seen from a holistic, societal perspective and there is a moral responsibility for leaders to think of the bigger picture,” he explains.



Ngubevana notes that if organisations are to become energy leaders of integrity, they also need to be pragmatic in their approach.



It is a balancing act which is not always easy, but in pragmatism, you must avoid hypocrisy, he believes. For example, do not shout about going green and then underhandedly support a cause that is in clear violation of green principles.



“It really is an integrity issue,” he says. “If you are an organisation aiming to go green, you’ve got to walk your talk. Every organisation should have a sustainability chief, a champion who reports directly to the board and is integral to the company’s financial and people management strategies.”



Again, consistently keep an eye on the data, he emphasises, and ensure in-depth knowledge within your strategic and operational teams, particularly in terms of developing technologies. Know how these emerging innovators are progressing and from where the demand is going to come.



In addition, it is important to have a clear picture of supply and demand. Understand how the country is developing versus where you are operating, and what the political environment means for the business.



“As Africans, we must put smart cities back onto our agenda for active greenfield development. Energy must fit into the entire picture of our societies, and even the most pragmatic approaches in the harshest of realities must be based on the data,” concludes Ngubevana.



Become an African Energy Leader in Africa, for Africa



The objective of sustainability is for people, planet and profits (the so-called 3 P’s) to synergistically work together. Both the <a href="https://www.wbs.ac.za/academic-programmes/postgraduate-diploma-in-energy-leadership/">Postgraduate Diploma</a> and <a href="https://www.wbs.ac.za/academic-programmes/masters-of-management/mm-in-the-field-of-energy-leadership/">Master of Management in the field of Energy Leadership</a>, provided by the African Energy Leadership Centre (AELC) at WBS, are centred around this goal.



The AELC believes that there is no better time than now to power the economy by developing the next generation of energy leaders in South Africa and Africa. Under the leadership of Professor Ngubevana, these new curricula talk to sustainability as a whole, decarbonisation, and a mutual systems thinking and approach to the African energy sector.



These specialist programmes are tailored not only for engineers but provide leadership growth for professionals in every field.



Apply now for the Postgraduate Diploma or Master of Management in the field of Energy Leadership from Wits Business School, the first specialist postgraduate programmes of their kind on the African continent. <a href="https://www.wbs.ac.za/academic-programmes/">Learn more here</a>.

AELC CNBC 1910×600

Africa’s new energy future relies on data-based decision making

The ‘new normal’ we are living in has introduced new risks to the business world, with some risks intensifying to a level that no business owner can afford to ignore. Key risks such as cybercrime and climate disasters are &nbsp;some of the notable ones. We have seen a surge in cybercrime attempts, and the record year-on-year surge in natural disasters such as hurricanes and fires demands attention. This article will focus on risks that pose a direct threat to every organisation. The focus is more on risks that have a direct impact on an organisation’s people, property and equipment, with eventual material downside risk on earnings and profit.



It might seem mundane to talk about risks such as fires and explosions, but just consider the damage caused by the Beirut port explosion – it totalled US$15billion. And that’s excluding the US$1,5 billion in insured losses and the loss in productivity that followed. With fires and explosions being the top cause of losses for business worldwide five years in a row until the end of 2018 and resulting in 9 500 insurance claims totalling over US$15 billion, can any organisation afford not to revisit its insurance cover? When was the last time you did a due diligence on your organisation’s short-term cover?The test should not only be whether you have cover in place, but it should also focus on the scope of the cover. What are the conditions? It pays to have a subject matter expert scrutinise your insurance.



In a world riddled with uncertainty, every organisation needs to review just how comprehensive its insurance is. Just consider the uncertainty that climate change and subsequent natural disasters bring to the insurance world; for instance, in 2020 there was a 40% increase in natural catastrophes totalling US$80 billion in insurance losses. Throw in the impact and uncertainty that Covid-19 brings and uncertainty for many an actuary model skyrockets, needing insurers to review their position. This is why it’s important to stay abreast of the scope, relevance and affordability of your organisation’s cover. &nbsp;



The pandemic brought changes that will stay with us for a long time, if not into perpetuity. Just look at the paradigm shift about how and where we work. Many organisations are embracing the remote working revolution to the benefit of their employees – well, most of them (our hearts go out to the extroverts)! Families are connecting more often, no matter how many time zones the radio waves must cross, and there has been a notable increase in online shopping. And if you think about it, all this technology was available before the pandemic. But it took the pandemic to trigger the use of this technology at mass scale.



And as we continue in the digital era, we can’t ignore some of the bad it brings as well. With the exponential growth of digital adoption come more IT vulnerabilities. At the peak of the first lockdown in April 2020, the FBI reported a 300% increase in incidents. The latest estimate is that cybercrime is now costing the global economy more than US$1 trillion. This is up 50% from 2019 levels. Already high in frequency, ransomware incidents are becoming more damaging, increasingly targeting large companies with sophisticated attacks and hefty extortion demands.



Nedbank Business Banking provides a range of solutions that will enable your organisation to counter the onslaught of cyberattacks. For instance, if you receive a notification from a supplier or client stating that their bank account details have changed, you can verify the new account details before making payment, by using our account verification service. This solution allows you to verify that the bank account belongs to the correct recipient and is valid, thereby reducing fraudulent payments and collections. You can also activate notification services on your Nedbank Business bank accounts to receive instant alerts to changes in your bank account balance and status.



Of all the risks mentioned, not one can be perceived as being more of a threat to any organisation’s most important asset – its people – than Covid-19 and its dangerous and vaccine-resistant mutations. This risk trumped all other risks to take the number one spot for 2021. There are several important questions the management of any organisation should ask. And it starts at the top. For instance: is there a signed agreement in place determining what should happen to the organisation in the event of the death or permanent disability of one of the owners? When was the last time this agreement was reviewed? The relevance of these questions becomes even more prominent when there are sureties or loan accounts in place, or staff who play a key role in the success of the organisation. The questions, of course, need to expand to all the people in the organisation. Do you have a medical aid scheme for your employees, and a solution in place that adequately provides for retirement and for your employees’ families in the event of an employee’s disability or death?



We know that each organisation is unique with its own needs and risks, and we will design a suitable solution for your organisation that takes into account your unique risk appetites. We have access to multiple suppliers nationally, so you can rest assured that you will get the best possible solution for your organisation. Our risk advisors call on clients at their convenience. Not only will you have a dedicated broker, but also a team that is always there to help. Our range of solutions extends beyond commercial insurance; we cater for the business owners’ personal needs, as well as the needs of your employees, through our various distribution channels.



Talk to your business manager or contact us at <a href="mailto:business@nedbank.co.za">business@nedbank.co.za</a> for more information and assistance.

Nedbank_Business_Banking_ABN360_1910x600

Let Nedbank help you manage organisational risks in the new normal

The ongoing impact of the pandemic is forcing business leaders to look for innovative ways to respond and adapt to rapidly changing environments to sustain their organisations. In the face of so much uncertainty, the need to invest in upskilling staff, encouraging new ways of thinking and equipping people with the tools that will keep them and their companies agile, engaged – and adapting – is critical. Not only will a motivated and skilled workforce be key in boosting performance now and post-pandemic, it can cost an average of <a href="https://www.enrich.org/blog/The-true-cost-of-employee-turnover-financial-wellness-enrich">six to nine months of an employee’s salary</a> to replace them, according to the Society for Human Resource Management. Now more than ever, it is essential for organisations to have an ambitious learning and development strategy in place, which is linked directly to the strategy of their business and what they want to achieve in the future.



One of the advantages of a well-designed training programme is that it can help translate the natural energy and ideas of an organisation’s people into solutions that work on the ground. Some South African companies are leading the way in this regard. The Sanlam Group, South Africa’s largest financial services group and the largest insurance firm in Africa, for example, credits its learning strategy with several key developments that have helped to keep the company at the leading edge over the past few years, and almost certainly gave it an edge during the pandemic.



Over the past four years, the company has invested in sending its senior managers on a customised leadership development learning journey — a innovative three-way collaboration between Sanlam, the <a href="https://bit.ly/3zK3Oec">University of Cape Town Graduate School of Business (UCT GSB)</a> and the <a href="https://bit.ly/2UNY6ZZ">Hasso Plattner School of Design Thinking (d-School)</a> — that combines leadership development with design thinking (a methodology using more creative and flexible approaches to solution finding). Feedback from the Leadership Development Initiative suggests that it has had a transformative impact as leaders learn to collaborate across traditional boundaries and lead solution finding processes with greater levels of courage and creative confidence.



Dr Nadine Mayers, course convenor of the Sanlam Advanced Leadership Certificate in Design Thinking at the UCT GSB explains that organisations across the world have great ideas and amazing solutions, but many are unable to land these as successful innovations in their organisations. “Landing multi-stakeholder innovations in a complex, uncertain world, requires a committed process of unlearning former pathways to success and embracing new ways of thinking and doing,” she says.



<a href="https://bit.ly/3xjXVTr">Customised programmes</a>, as their name suggests, are <a href="https://bit.ly/3xjXVmp">executive education programmes</a> that are custom designed&nbsp;to help organisations meet their own particular challenges. They can be aligned with a company’s business strategy and goals, as well as for the specific competency gaps within the organisation, to ensure relevance and clear outcomes and can be a great way to make sure that scarce resources are spent smartly. Organisations are able to choose exactly what they need so programmes can be adapted from existing short courses for continuing professional development or designed from the ground up.



Rayner Canning, Business Development Director at the UCT GSB, says the school, through its experienced team of Learning Design Partners, works closely with corporates to co-create effective training interventions, helping them to think through the problems they face and design the best solution. “Through our extensive local and international networks, we seek to ensure the best faculty and most relevant SME’s (subject matter experts) are available to our clients. In designing and developing programmes that work, we’re able to leverage current thinking and practice from across the ecosystem of the UCT GSB — notably from our world-class faculty, as well as from associated centres of excellence such as the <a href="https://bit.ly/2UNY6ZZ">d-School</a> and the <a href="https://bit.ly/2Wo5wTT">Centre for Coaching</a>. This depth of expertise, along with the UCT GSB’s agility and client-centric attitude is going to become ever more important as we transition into a post-COVID-19 world.”



One of the key attractions of <a href="https://bit.ly/3xjXVmp">executive education programmes</a> is the networking opportunities they provide. The advantages of meeting people from different organisations are obvious, but the benefits of getting to know colleagues better should not be overlooked. This is particularly relevant for multinational companies with staff operating in different geographies – while they may work for the same organisation, the cultures and market pressures in each geography varies significantly. <a href="https://bit.ly/3xjXVTr">Customised (in-company) programmes</a> allow not only for networking, but provide opportunities for greater understanding of cultures, people and market conditions that are present across such organisations. Authenticity, collaboration and trust are going to be essential for success in the future, so strengthening an internal network among colleagues, and across roles and divisions can improve employee engagement and impact an organisation’s bottom line.



Customised programme solutions by their very nature target specific learning outcomes that can be measured through increased workplace application of the new skills (both hard and soft) acquired. These targeted training solutions also allow corporates to better manage the work environment, which is often hostile to new ways of working and problem solving. They are thus able to prepare the work environment for the influx of new skills and behaviours by creating safe spaces for experimentation and application of what has been learnt.



“At the UCT GSB, we spend a lot of time working closely with clients before, during and after programmes to understand what’s working and what’s perhaps not working as well,” Canning explains. “This gives us insight very quickly into how to pivot, adapt and update materials and learning methodologies as clients’ business needs shift and as the programmes unfold.”



The <a href="https://bit.ly/3zK3Oec">UCT GSB</a> was ranked 56 in the world and number one in South Africa for its <a href="https://bit.ly/3xjXVTr">Customised Executive Education programmes</a> in the 2020 Financial Times Ranking – widely regarded as a leading benchmark of quality and relevance for business schools worldwide. It also became the first business school in Africa to win a Gold Excellence In Practice Award from the European Foundation for Management Development (EFMD) for a case study on its long-standing partnership with Standard Bank to deliver a Masterclass in Strategic Client Management Programme (MSCMP) for its corporate and investment banking (CIB) managers across Africa.

UCT GSB – Table Mountain

Customised training interventions are key for an agile and engaged workforce

Small and medium-sized businesses are likely to lead the economic recovery on the African continent, but until they can secure a genuine foothold in corporate value chains, the sector is likely to be dominated by a handful of players who had early-mover advantage and access to finance.



As a finance partner to a number of emerging businesses in Africa, we need to understand how we not only improve access to finance, but give them the right tools to facilitate access to market as they grow.



A question we often ask ourselves:



“Are we growing the corporates of tomorrow while at the same time giving opportunities to youth and women-led businesses who need a foot in the door?”



In South Africa, Absa has recently released its Procurement Portal to focus on diversifying its supplier base but we are also excited about other developments on the continent which suggest we are entering an exciting new era for small and medium sized businesses.



Botswana for instance has had a big focus on localisation which has been accelerated by COVID-19 supply chain interruptions. Government and the private sector is focusing on capacitating local suppliers to ensure that they will be less vulnerable to future shocks to the system. Instead of relying on vast quantities of imported goods and services, the country has focused on an import substitution programme to ensure local manufacturing and provision of services.&nbsp;



Ghana is another example of progressive thinking from government – particularly as they are benefiting from the resources boom across the globe. The mining sector is resurgent at the moment and the supply of goods and services to the mines, represents a significant opportunity for smaller businesses.



Currently 75% of our lending in Ghana is going into the Natural Resources sector and an interesting dynamic playing out here is finding a way to help smaller suppliers graduate to be able to fulfil larger contracts. Typically these contracts are higher in value than supplying a school or a small manufacturing business so – unless they have the right finance partner &#8211; emerging entrepreneurs struggle to bridge the gap to actually complete these contracts.



In Kenya the telecommunications sector is vibrant and we enjoy a great relationship with the team from Safaricom. Here is a large focus on bringing women-owned businesses into their supply chain. It is estimated that the funding gap for women-owned businesses in Africa is over $2 trillion and a lot of work needs to be done to ensure that these entrepreneurs are given equal opportunity to participate in the market.



While localisation and local manufacturing capacity is a key focus for all stakeholders in the SME sector, we can’t ignore the role that multi-national organisations have in terms of bringing foreign products into the continent. An organisation like Coca Cola may have very limited opportunities for SMEs to participate in the traditional supply chain at a manufacturing level. That doesn’t mean they are excluding smaller entrepreneurs from working with them. In Kenya we are working closely with the Coca Cola team to help them develop entrepreneurs on the distribution and transport side which has required some innovative funding models.&nbsp;



Lastly we can’t ignore the opportunity presented by the agriculture sector both at a primary produce and secondary market level. The International Food Policy Unit has spoken about a “quiet revolution” that has been taking place in Africa over the last few years where smaller farmers are playing a critical role in ensuring food security for all role players.



In a report released in 2019, they noted: “Many small- and medium-sized enterprises are channelling food from farms to households and creating employment for millions in this middle part of the food system which is not “missing” but “hidden” and often ignored by policy makers.”



Our colleagues across the bank are seeing this trend starting to play out in terms of new funding mechanisms being made available to support these businesses who are moving from subsistence businesses to fully-fledged entities. Food security became very topical during the COVID-19 lockdowns and with agriculture playing an important role in job creation, there has been a very progressive attitude from policy makers to build local support.



While there is no magic wand that can be waved at the small business sector, we as a bank believe that there is a revolution of sorts taking place on the continent. Access to finance and access to markets is inextricably linked and we believe that our mandate is to help facilitate both.

ESD_cnbc_web_banner_1910x600

SMEs in Africa: A revolution is coming

Your Business can become sustainable &amp; prosperous with SAP Business ByDesign



Has your company grown so quickly that your departments and business processes are hardly integrated? Are these growing pains preventing your employees from collaborating effectively with external stakeholders? Perhaps you also have inadequate insights into data that can help you make decisions and identify potential problems before they crop up. Not to mention the tedious manual processes slowing your employees down!



<figure class="wp-block-image alignwide size-large"><img loading="lazy" decoding="async" width="820" height="513" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/07/Advertorial-Banner_1200x750_Opt.2-820x513.jpg" alt="" class="wp-image-410036" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/07/Advertorial-Banner_1200x750_Opt.2-820x513.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/Advertorial-Banner_1200x750_Opt.2-300x188.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/Advertorial-Banner_1200x750_Opt.2-128x80.jpg 128w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/Advertorial-Banner_1200x750_Opt.2-768x480.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/Advertorial-Banner_1200x750_Opt.2.jpg 1200w" sizes="auto, (max-width: 820px) 100vw, 820px" /></figure>



You can now resolve these challenges, as your business grows, with SAP’s Cloud Solution for growing businesses. SAP Business ByDesign is an innovative solution developed specifically with rapid growing SMEs in mind – the solution promotes quick, efficient implementation and operation for SME users.



<h2 class="wp-block-heading" id="h-ready-when-you-are-let-s-see-how">READY, when you are! Let’s see how:</h2>



SAP Business ByDesign is an on-demand, integrated business software for small businesses and mid-sized enterprises looking for a comprehensive CLOUD solution providing the functions you want – at an affordable price. It provides end-to-end integration of all your key business areas – such as Finance, Customer Relationship Management, Project Management, Supply Chain Management, Procurement and Human resources – in a single comprehensive solution, thereby allowing you to manage your company’s key processes with a high degree of precision. It also provides you flexibility you need to adapt, grow, and extend your business processes across the entire value chain and ecosystem.



Since SAP Business ByDesign updates automatically and performs tests and maintenance routes on its own, your company can fully focus on its core business function. Respond to new business requirements by configuring your solution online – it’s fast, efficient, and accessible anytime!



Support your employees in key business areas today!



<ul class="wp-block-list"><li>Optimize financial processes, including financial accounting and cash flow management.</li><li>Focus on your customers in marketing, sales and distribution and service.</li><li>Promote and use employee potential through organizational management, HR activities and employee self-services.</li><li>Integrate production and logistics in supply chain structuring, planning, and management and manufacturing, warehousing, and logistics.</li><li>Fulfill compliance with applicable laws and standards.</li><li>Achieve your company’s goals through corporate performance management.</li></ul>



Get Business Software that has you covered, NOW and in the Future.



SAP Business ByDesign can help you turn challenges into opportunities. See how you can take advantage of the change, build networks, and develop the confidence to take on larger competitors, even as you reduce your expenses.



Gain extensive insights into your growing company with built-in analytics functions providing you a 360-degree view of your business. SAP Business ByDesign provides you with the tools to quickly make adjustments that can provide an edge over your competition.



The SAP Business ByDesign is a business solution ready-made for your company with standardized automation and integration based on your industries best practices. &nbsp;



<h2 class="wp-block-heading" id="h-why-sap-business-bydesign">Why SAP Business ByDesign?</h2>



<ul class="wp-block-list"><li>Unbeatable Value</li><li>Unprecedented Speed</li><li>Unmatched Flexibility</li><li>Superior Customer Experience</li><li>Unrivaled Transparency and Control</li><li>Simple, Rapid Configuration and Adaptation</li><li>Predictable Cost and Low Risk</li></ul>



Sit back and learn how perfect this solution is for your business.



What are you waiting for?



To find out more about SAP Business ByDesign – and how it can help your organization operate beyond business boundaries, visit <a href="https://www.sap.com/africa/products/erp-financial-management/small-business-erp.html?tab=featured#business-bydesign">SAPAfrica.com/ByDesign</a>

Bright Ideas

INNOVATION born in the CLOUD – SAP Business ByDesign

Whilst listening to a recent presentation by Absa’s equity analyst Samantha Naicker entitled “Navigating the Maze” on South African Food Producers, I stumbled on a theory dubbed “The Lipstick Effect”.  Defined by Wikipedia, it is when facing an economic crisis, consumers will be more willing to buy less costly luxury goods but will continue to spend money on small indulgences.   Thus, when the consumer’s trust in the economy is dwindling, they will buy goods that have less impact on their available funds but still make them feel good about themselves and life in general.



However, despite lockdown levels easing, the COVID-19 crisis did not lead to the traditional “Lipstick Effect” witnessed in past eras. The theory of spending more on less costly luxury items that will make you feel better about yourself, seemingly failed – well, when it comes to lipstick at least.&nbsp;



Circumstances greater than the crisis resulted in a different behavior from consumers than anticipated.&nbsp; They opted for spending money on home improvements and home entertainment, rather than luxury feel better goods such as make-up and perfume. The home environment became the primary focus of spending and “necessary” for survival. Based on Absa Card Spending Data the trend continues, whilst return to “normal” pre-COVID world of work, travel and social interaction, remains elusively out of reach.



This got me thinking further about the drivers of consumer behavior and how the pandemic also accelerated online and omni-channel retail beyond expectations. If we look at our data, it is clear that while e-commerce was starting to gather some traction, the lockdown was the catalyst for a step-change in adoption. While foot traffic in malls is starting to pick up, there’s a clear increase in the number of people whose behaviors have shifted to online. It now has become a habit consumers have adopted.



Considering all of the aforementioned, it is noticeable that consumers are effectively the ultimate drivers of trends and change.&nbsp; Given the fact that the South African economy (and many economies globally) faces a number of big, structural challenges, for which we require such change, it is becoming clear that we will need to start thinking differently about how we influence behavioral changes to drive consumer adoption of necessary trends, technologies and industries for much-needed future growth.



<h2 class="wp-block-heading" id="h-buy-local-initiative">“Buy Local” initiative</h2>



One of the long-standing criticisms of the South African government specifically is that it has failed to identify strategic sectors and industries to support and capacitate. We often tried to be all things to all people and failed to identify sectors that we can excel in or those that are important in the local economy in terms of job creation or export revenue potential.



Over the last few years, there has been a focus on establishing sectoral Master Plans with a combination of tax and financial incentives to attract foreign investors with some notable successes like the automotive sector. We have recognized the need to move from an Import economy back to self-producing and export driven economy in order to create jobs and thrive.&nbsp;



As an example, the increased focus on the textile sector and related Master Plan, has the potential to bring manufacturing back to South Africa, and furthermore also adds support to small scale farmers and fabric producers, artists and creatives.&nbsp; However, we keep coming back to the question: “How do we incentivise South African’s to support their local talent and buy local produce?”



A number of the retailers run initiatives – often in conjunction with the likes of Discovery – where you get rebates on buying healthy food and gear. Could the same principle be applied to buying locally manufactured products and how would the consumer respond to this?



From Absa’s consumer merchant spending analytics, it is clear that the clothing industry took extra strain during Covid, putting even more pressure on the already struggling textile industry. The below graph illustrate spending growth across various categories:



Could initiatives be considered that actively drives a “buying local” trend, by putting money back into the consumer’s pockets when it is so desperately needed? Perhaps, through reduced tax (VAT) or discounts passed via corporate tax, for buying locally made produce?&nbsp; This is the sort of thinking we need to adopt to create the positive change we so much require in this economy.



<h2 class="wp-block-heading" id="h-reducing-physical-cash-as-a-payment-mechanism">Reducing physical cash as a payment mechanism</h2>



Cash comes with Risk and Risk comes with additional costs. Ideally we would like to significantly reduce cash in our payment systems, but in an economy like South Africa, cash is still a major part of the day-to-day payment system.&nbsp; COVID-19 has raised further concerns around the risks associated of handling cash and even the passing of card terminals between consumers and merchants.



James Scott, Head Digital and Platform services at Absa Corporate and Investment Banking agrees that cash is king and very relevant in Africa when he states: “It is no longer about a gap in the technology to displace cash, it is all about shifting consumer and merchant behaviour towards enabling digital payments. Regulatory shifts in South Africa will see the introduction of a low cost payment rail, this has the potential to really open up innovation, financially include more of the population and reduce the friction and risk inherit in cash. An exciting space to watch.”



So the question then is how do we influence a change in consumer behavior to demand payment from sources by means other than cash?&nbsp; Again, we have to consider incentivising consumers with discounts for paying digitally or other.&nbsp; There is no doubt a saving to be done away with between security and cash deposit fees, which potentially could be passed on to the consumers.



In theory at least, the idea is great and has the potential of running stores more efficiently by reducing security risks and probably lower other cash related costs such as insurance.



<h2 class="wp-block-heading" id="h-netflix-the-stick-or-the-carrot">Netflix: The stick or the carrot</h2>



Before I end, I would be remiss not to discuss the stick versus carrot approach and what it brings out in consumers. For those who are old enough to remember, you used to have to pay a license to have a bicycle and own a dog as revenue categories for government. These were eventually canned and interestingly, both the leisure and pet care sectors have exploded as major retail categories.



Over the last decade the SABC has bemoaned the lack of compliance around TV licenses as consumers have shifted away from cable to online streaming options. The response from government and the regulators is to attempt to use the stick of applying “TV” licenses for the viewing of the likes of Netflix.&nbsp; In my humble opinion, sticks rarely work in driving a new trends being adopted or behavior we would like to see – quite the opposite.&nbsp;



I don’t have all the answers but I think that the events of 2020 have shown that if we can find ways to positively influence and drive change in consumer behaviors, we potentially have the ability to re-imagine our local economy.



By: Isana Cordier

ABSA_Insights_Consumer Goods and Services_CBNC_Thumbnail Image_1910x600 …

Drivers of Consumer Trends

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/06/Aida-5-820x547.jpg" alt="" class="wp-image-408331" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/06/Aida-5-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/06/Aida-5-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/06/Aida-5-120x80.jpg 120w, https://cms.cnbcafrica.com/wp-content/uploads/2021/06/Aida-5-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/06/Aida-5-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2021/06/Aida-5-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption>Aida Diarra, Senior Vice President &amp; Head of Sub-Saharan Africa at Visa</figcaption></figure>



The last decade has seen enormous growth in digital technology, including payments. Innovation and technological advances are bringing exciting opportunities for financial inclusion to the fore. Technology is now a tool to leapfrog over old processes, systems, and protocols for the benefit of everyday consumers. This leap forward has been accelerated by the advent of the COVID-19 pandemic, which has forced us to shift our behaviours and adopt more technology to assist with our day-to-day lives in all aspects, including our finances.



As a result, the payments segment has grown rapidly in Sub Saharan Africa, mainly due to the high demand for financial inclusion. Today Visa, the world leader in digital payments, has become the connective tissue to enable new payment and commerce experiences by co-creating with all players in the payments sector – including fintechs, neobanks and wallets – to enable new payment experiences across the region. We have always been an enabler of invention and have constantly innovated to meet market needs over the years — from credit, debit and prepaid to mobile and IoT – to enable new payment experiences across the region. Our business and technology strategies have enabled us to become a leader in electronic payments over the last six decades. Despite this great success, an estimated $17 trillion of cash and checks are still in use globally, and nearly 2 billion adults lack access to formal financial services, providing huge opportunities for Visa and the greater industry to rally around standards (e.g., QR, eCom/mCom) and capabilities that will broaden access to electronic payments.



According to the Global Innovation Index, regional divides still persist and when you look at Sub Saharan Africa we are characterized by high performers like South Africa and Mauritius who rank in the top 60, while most of our region ranks below 100.



Visa’s approach to innovation in the 21st century is anchored in a belief that paying with Visa in the digital world should be just as simple as when you pay with Visa in the physical world. It should also be just as secure, rewarding, and convenient.



With commerce becoming increasingly digital, there is greater impetus for Visa to innovate to keep our system secure for everyone. Every Visa payment, for example, is secured by our sophisticated anti-fraud detection systems that apply the latest in machine learning and artificial intelligence. We pioneered the use of sophisticated machine learning systems to reduce fraud on our network over a decade ago, and in the years since, we have evolved our predictive analytics to incorporate new data sources and new AI technologies. In a fraction of a second, Visa analyses up to 500 pieces of data to protect accountholders and merchants by catching fraud before it happens.



The restrictions on movement and increased wariness of handling physical cash caused by the COVID-19 pandemic, helped lift Sub-Saharan mobile money transaction volumes 23% to $490 billion last year, greater than the GDP of Nigeria, the region’s biggest economy. Leap frog markets like Kenya have one of the highest mobile-money penetration rates in the world (mobile money is 54x bigger than card payments).



What further compels our innovation strategy is a very large opportunity to accelerate the adoption of digital payments globally. Over the last several years, Visa has fundamentally evolved both our platforms and how we work with partners and clients to encourage a broadening of the commerce ecosystem. Our focus has remained the same: to provide our clients and partners with access to our network, products, tools and expertise to enable their growth and success. In addition, our collaborations with a broad range of partners to co-create market-ready payment solutions have been a key driver in the enhancement of financial inclusion across Sub-Saharan Africa.



Some of our latest partnerships are leveraging the power of mobile as an access point to financial inclusion, including a partnership to develop products that will expand access to digital payments at scale for over 30 million mobile money customers .We are also driving access for small businesses through the launches of tap to phone and an exciting pilot that will serve as a solution to help small business owners digitize their business, covering payments, point of sale and access to credit, via a mobile device.



To foster real inclusion we need tangible, customer-centric solutions that, with our innovation and design centre capabilities, our partners have a chance to engage with key trends and the latest Visa technologies through a number of design processes to identify where the gaps and opportunities are.



We are always looking to partner with companies at the leading edge of enhancing financial inclusion. As we continue to evolve as a company and a brand, technology will continue to be our great enabler, helping us achieve our vision of being the best way to pay and be paid, for everyone, everywhere.

Brandcom

ACCESS CORPORATION UNLOCKING NEW OPPORTUNITIES FOR INTRA- AND INTER- AFRICA TRADE – HERBERT WIGWE

The role of gas in Africa’s energy sector is just one of the strategic angles being pursued at Enlit Africa

Closing the gender gap in African STEM education

ENLIT AFRICA TO ADDRESS AFRICAN POWER SECTOR CONCERNS AROUND ENERGY TRANSITION

PPS ENDS YEAR POSITIVELY DESPITE INCREASED CLAIMS IN YEAR TWO OF PANDEMIC

Where does Africa fit into the global resource mix?

Vaccinating for Economic Recovery and Growth

Making Energy Poverty History by 2030: African Energy Week 2021 Unites African Oil, Gas and Renewable Energy Leaders to Discuss the Future of the Continent’s Energy Sector

How Retail giant PEP adopted a data culture — and saved millions of Rands in the process

The Eastern Cape Province is yours to Explore

Africa’s new energy future relies on data-based decision making

Let Nedbank help you manage organisational risks in the new normal

Customised training interventions are key for an agile and engaged workforce

SMEs in Africa: A revolution is coming

INNOVATION born in the CLOUD – SAP Business ByDesign

Drivers of Consumer Trends

Innovation, partnership, and co-creation key to driving digital payment growth in Sub-Saharan Africa

News Tips

Advertise With Us

Brandcom

ACCESS CORPORATION UNLOCKING NEW OPPORTUNITIES FOR INTRA- AND INTER- AFRICA TRADE – HERBERT WIGWE

The role of gas in Africa’s energy sector is just one of the strategic angles being pursued at Enlit Africa

Closing the gender gap in African STEM education

ENLIT AFRICA TO ADDRESS AFRICAN POWER SECTOR CONCERNS AROUND ENERGY TRANSITION

PPS ENDS YEAR POSITIVELY DESPITE INCREASED CLAIMS IN YEAR TWO OF PANDEMIC

Where does Africa fit into the global resource mix?

Vaccinating for Economic Recovery and Growth

Making Energy Poverty History by 2030: African Energy Week 2021 Unites African Oil, Gas and Renewable Energy Leaders to Discuss the Future of the Continent’s Energy Sector

How Retail giant PEP adopted a data culture — and saved millions of Rands in the process

The Eastern Cape Province is yours to Explore

Africa’s new energy future relies on data-based decision making

Let Nedbank help you manage organisational risks in the new normal

Customised training interventions are key for an agile and engaged workforce

SMEs in Africa: A revolution is coming

INNOVATION born in the CLOUD – SAP Business ByDesign

Drivers of Consumer Trends

Innovation, partnership, and co-creation key to driving digital payment growth in Sub-Saharan Africa

News Tips

Advertise With Us

Newsletters