FOREWORD
FOREWORD Journal of African Business A unique guide to business and investment in Africa. Welcome to Journal of African Business, your guide to business and investment on the continent. The fourth edition of Journal of African Business is the second issue of this magazine to be published as a quarterly. The first two journals were published as annual publications in 2020 and 2021. Quarterly publication affords our team more opportunities to bring to readers up-to-date information and opinions and offers our clients increased exposure at specific times of the year, either related to events and conferences or in conjunction with feature articles on specific topics. Our aim is to cover a wide range of subjects within the broader economic sectors: energy; mining and exploration; trade; finance; technology and tourism. POWERING MINING IN AFRICA The rise of the mini-grid and the captive model ENERGY PARTNERSHIPS MUST BENEFIT SOCIETY Localisation can support women and children BLOCKCHAIN IS A DRIVER OF INCLUSION COUNTRY PROFILES: GHANA & KENYA THE EFFECT OF TRAVEL BANS ON TOURISM THE JOURNAL OF AFRICAN BUSINESS SEPT / OCT / NOV 2022 INSPIRED BY AFRICANS MULALO TAKAEDZA, a Senior Vice President at Standard Bank, is impressed by the entrepreneurial spirit and resilience of the continent’s people In addition to this, special features on topical matters will be published periodically, along with country profiles. In this issue, Ghana and Kenya are profiled. In an interview, Mulalo Takaedza, a Senior Vice President in Structured Capital Team at Standard Bank, shares her perspective on Africa’s prospects and relates how she found some entrepreneurship within herself while doing business in Nigeria. Her own philanthropic work and reflections on the role of women in mentoring also form part of the interview. Former South African deputy president Phumzile Mlambo-Ngcuka writes on how important it is for energy partnerships in Africa to benefit society, especially women and children through a process of localisation. Mlambo-Ngcuka, who also served as Director of UN Women, argues that resource companies need to be carefully monitored to ensure that a country’s developmental needs are addressed as resources are exploited. The potential of mini-grids for mining operations in Africa is explored by two experts from Norton Rose Fulbright. Finding reliable, cost-effective and green energy solutions are key factors for resource companies, particularly where the existing grid has suboptimal generation, transmission and distribution infrastructure. We record a speech made to the 1st Africa-Caribbean Trade and Investment Forum by AfCFTA Secretary-General Wamkele Mene. The Forum was held under the theme “One People, One Destiny: Uniting And Reimagining Our Future” and Meme spoke about the steps that have been taken, and will be taken, to enable and promote private-sector investment in terms of the African Continental Free Trade Area (AfCFTA) agreement. All of the measures being introduced are further strengthening the case for investing in Africa. Environmental scientists Alexander Richard Braczkowski and Duan Biggs have been studying the data on the effects of Covid-19 lockdowns on tourism in Africa. In an article first published on The Conversation, the authors illustrate how bad the absence of visitors has been for African lodges and reserves and suggest some ways in which the industry can recover. Global African Network is a proudly African company which has been producing region-specific business and investment guides since 2004, including South African Business and Nigerian Business, in addition to its online investment promotion platform www.globalafricanetwork.com JOHN YOUNG Editor, Journal of African Business Email: john.young@gan.co.za Editor: John Young Publishing director: Chris Whales Managing director: Clive During Online editor: Christoff Scholtz Design: Simon Lewis. Production: Yonella Ncaba Ad sales: Venesia Fowler, Tennyson Naidoo, Tahlia Wyngaard, Gavin van der Merwe, Sam Oliver, Graeme February, Shiko Diala, Gabriel Venter and Vanessa Wallace Administration & accounts: Charlene Steynberg, Kathy Wootton Distribution & circulation manager: Edward MacDonald The Journal of African Business magazine is published by Global Africa Network Media (Pty) Ltd Company Registration No: 2004/004982/07 Directors: Clive During, Chris Whales Physical address: 28 Main Road, Rondebosch 7700 Postal: PO Box 292, Newlands 7701 Tel: +27 21 657 6200 | Email: info@gan.co.za Website: www.gan.co.za No portion of this book may be reproduced without written consent of the copyright owner. The opinions expressed are not necessarily those of The Journal of African Business magazine, nor the publisher, none of whom accept liability of any nature arising out of, or in connection with, the contents of this book. The publishers would like to express thanks to those who Support this publication by their submission of articles and with their advertising. All rights reserved. Printing: FA Print 2
CONTENTS 2 4 6 FOREWORD From the editor’s desk. NEWS FROM THE CONTINENT Recent investments, expansions and milestones. INSPIRED BY AFRICANS’ RESILIENCE Before working on African deals, Standard Bank Senior Vice President Mulalo Takaedza found her entrepreneurial spirit awakened in Nigeria. 12 POWERING MINING IN AFRICA – THE RISE OF THE MINI-GRID Miners have multiple considerations to weight up when they decide how to power their operations, write Simon Cudennec and Laura Kiwelu of Norton Rose Fulbright. 14 18 THE MUSINA-MAKHADO SPECIAL ECONOMIC ZONE A regional plan with a continental impact. ENERGY PARTNERSHIPS IN AFRICA MUST BENEFIT SOCIETY Phumzile Mlambo-Ngcuka, the former Director of UN Women and South Africa’s first female deputy president argues for broader social goals in energy policy. 20 HOW TO ACCELERATE PRIVATE SECTOR INVESTMENT The speech given by AfCFTA Secretary-General Wamkele Mene to the 1st Africa-Caribbean Trade and Investment Forum in September 2022 outlined how the continental agreement will create a conducive environment for investment. 22 24 A SURGE IN DDOS ATTACKS – WHAT TO DO Patrick Ndegwa, SEACOM Business Sales Lead, explains how African businesses can protect themselves. BLOCKCHAIN IS A DRIVER OF FINANCIAL INCLUSION Africa’s biggest banker is researching and developing transformative fintech and blockchain products. 26 WHAT TRAVEL BANS HAVE DONE TO CONSERVATION TOURISM Researchers Alex Braczkowski and Duan Biggs analyse the damage done and suggest strategies to help it recover. This article first appeared in The Conversation. 28 30 32 COUNTRY PROFILES: GHANA AND KENYA EVENTS IN AFRICA Global Africa Network (GAN) is the media partner of many upcoming events. HOW TO BUY A BUSINESS Contents The Journal of African Business 3
