The global fintech market, currently valued at USD 294.74 billion, is projected to experience substantial growth. By 2024, it is expected to reach USD 340.10 billion and further expand to USD 1,152.06 billion by 2032, reflecting a robust compound annual growth rate (CAGR) of 16.5% over the forecast period. As of 2023, North America dominates the global market with a notable share of 34.05%.

READ ALSO: http://Fintech in Africa: The next Big Revolution in Global Africa?

Fintech companies operating in the business-to-business (B2B) sector offer diverse financial technology services, tools, and solutions, primarily delivered via the cloud. This enables businesses to integrate and leverage financial technologies without the need for costly in-house development.

In Africa, the fintech digital assets market is projected to grow by 9.01% between 2024 and 2028, reaching a market volume of USD 56.47 billion by 2028. The sector is experiencing rapid expansion; as of 2021, fintech companies constituted nearly half of Africa’s 5,200 tech startups.

The African creative economy, too, has witnessed remarkable growth in recent years. The rising global demand for African creative products has directly contributed to economic development, particularly through the generation of new employment opportunities.
Fintech solutions are central to promoting financial inclusion and economic empowerment in Africa. However, their impact extends beyond these areas. They foster a sense of self-identification with African narratives, enabling young Africans to express themselves in unprecedented ways within a digital landscape rich with opportunities.

The creative economy is a treasure trove of potential, not only for Africa but also for the world at large. It holds the promise of ushering in more progressive development across the continent. According to Douglas Kendyson, the Founder and CEO of Selar.co, ‘The Creative economy is really big, we are barely scratching the surface in this sector, and the possibilities are limitless. We need more platforms that facilitate the activities of young Africans in the creative economy.’

FinTech solutions are also driving growth in sectors such as mobile gaming, facilitating digital payments, and supporting the distribution of African creative products to wider markets. All these form an ecosystem of productivity that enhances the standard of living in this modern age and propels humanity further to greater heights.

The future of Africa’s creative industry is bright, fueled by the digital spark of Fintech. As financial inclusion and empowerment take root, African creators will rise, their talents reaching the world stage. This is the story of a continent finding its voice, empowered by innovation and ready to claim its rightful place in the global creative landscape.

The post The Role of Fintech in Transforming the African Creative Industry appeared first on African Leadership Magazine.

Joyce Nzovu, Arts Project Manager for Kenya, highlighted the importance of the Catalyst Grants, saying, “These grants are crucial for promoting cultural exchange and collaborative innovation between the UK and Kenya. They offer artists from both countries the chance to connect, share ideas, and explore new ways of working together.”

The selected projects cover a range of artistic fields and themes. Notable projects include:

• “Making Space”: A collaboration between Transform Festival (UK) and The Godown Arts Centre (Kenya), this project will explore young people’s relationships with public spaces in Leeds and Nairobi.
• Nairobi to Manchester Standup Comedy Exchange: Led by Douglas Mutai of Standup Collective (Kenya) and Creatures Comedy (UK), this project aims to connect comedy scenes in Nairobi and Manchester through live performances, workshops, and discussions.
• “The Power of the Sound System”: A partnership between Outlook Festival (UK) and Umojah Sound System (Kenya), focussing on challenges in the Kenyan music industry, including collaborations with the Deaf Centre and new music production technologies.
• Afrigamer and 492 Korna Klub: This project will use gaming to promote social activism and climate awareness, engaging young gamers and developers in Kenya through participatory theatre and storytelling.

Tom Porter, British Council’s Country Director and East African Cluster Lead, expressed enthusiasm for the grants, noting, “The Catalyst Grants showcase a diverse range of art forms and highlight the creativity of both Kenya and the UK. We look forward to seeing the impactful results of these collaborations.”

The 2025 UK/Kenya Season, presented by the British Council with UK and Kenyan partners, will celebrate creativity and cultural connections, featuring Kenyan work in the UK and vice versa. This initiative aims to strengthen partnerships and increase investment in the arts.

King Richard is the Group Editor at African Leadership Magazine and can reached via email. king.richards@africanleadership.co.uk

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Launched in 2020, Intron Health addresses the need to streamline healthcare documentation in Africa. The platform recognises over 200 accents, crucial for effective communication and documentation in regions with diverse languages. Founder and CEO Tobi Olatunji, a former doctor in Nigeria, noted the challenge of manual data entry for electronic medical records (EMRs). Intron Health’s AI-driven speech recognition technology, with a 92% accuracy rate, reduces the documentation burden on healthcare providers.

Intron Health’s technology has shown significant impact in Nigeria, Ghana, Kenya, South Africa, and Uganda. It allows doctors to complete documentation seven times faster, accelerating EMR adoption and improving patient care. At the University College Hospital in Ibadan, Nigeria, the solution reduced radiology reporting time from 48 hours to 20 minutes. Dr. Oluwatosin Fatade, Chief Resident at the Radiology Department, praised its effectiveness over conventional voice-to-text solutions.

With the new funding, Intron Health plans to enhance its research, cloud-native, and on-premise capabilities and expand its distribution network. The company will recruit top tech talent to support product development and market expansion. Utilising its proprietary dataset of over 3.5 million audio clips from 29 countries, Intron Health continues to refine its algorithms for diverse healthcare settings.

Intron Health partners with Google Research, the Bill & Melinda Gates Foundation, and Digital Square at PATH to advance healthcare through AI. It is a key player in the AfriMed-QA project, which evaluates large language models (LLMs) for medical question-answering in African clinics. As a member of the Commonwealth Artificial Intelligence Consortium (CAIC), Intron Health aims to extend its solutions to Commonwealth Small States, contributing to global AI-driven healthcare improvements.

Intron Health’s technology is transforming healthcare and exploring applications beyond the medical field. By leveraging localised voice technology, the company envisions AI driving progress in regions historically left behind. With strong investor backing and a dedicated team, Intron Health is set to redefine healthcare documentation and productivity, exemplifying AI’s transformative power in addressing global challenges.

The post Intron Health Raises $1.6M to Enhance African Healthcare appeared first on African Leadership Magazine.

In his speech, Arc. Echono highlighted the necessity of adopting democratic principles, good governance, and accountability to achieve political stability and peace across the continent. He stressed the importance of harnessing available funding from institutions such as the World Bank and the African Development Bank to invest in vital infrastructure projects, particularly in energy, transportation, and communication systems.

“Unlocking Africa’s immense potential requires a multilayer approach,” Echono stated. He called for strengthening regional integration through organisations like the African Union and ECOWAS and promoting intra-African trade and collaboration. He argued that this would enable Africa to benefit from economies of scale and leverage its collective potential.

Arc. Echono also addressed the need for environmental sustainability and climate action, urging Africa to protect its natural resources, adopt renewable energy, and promote eco-friendly practices. He emphasised that these efforts must be complemented by a strong commitment from African leaders to invest in education and entrepreneurship development.

“Investment in quality education, skills development, and continuous capacity building will produce a globally competitive workforce,” he said. He advocated for embracing technological advancements and digital transformation to accelerate innovation and promote entrepreneurship, which he described as the “engine of growth and sustainable development.”

Echono pointed out the disconnect between current educational systems and the needs of modern society, calling for a revamp of curricula to foster entrepreneurial thinking and job creation. He highlighted the successes of TETFund initiatives like Research for Impact (R4i) and TETFund Alliance for Innovative Research (TETFAIR), which have trained hundreds of lecturers and developed numerous prototypes with commercial potential.

“By leveraging advanced technologies and unlocking the possibilities of science, we can plant and nurture the seeds of tomorrow’s innovation today,” Echono asserted. He concluded with a call to action, urging African leaders to use education and entrepreneurship to unleash the continent’s greatness.

The summit concluded with a resounding commitment to transforming Africa into a global powerhouse through strategic investments in human capital and fostering a culture of innovation and entrepreneurship.

For enquiries contact;

King Richard Igimoh

Group Editor

African Leadership Magazine

editor@africanleadership.co.uk,  king.richards@africanleadership.co.uk  

About African Leadership Magazine Summit:
The African Leadership Magazine Summit is a premier event that convenes leaders from various sectors to discuss and promote sustainable socio-economic development across Africa. The summit provides a platform for dialogue, collaboration, and the exchange of ideas to address the continent’s most pressing challenges and opportunities.

Here’s the complete speech

 A KEYNOTE ADDRESS DELIVERED BY ARC. SONNY ECHONO ON “EDUCATION AND ENTREPRENEURSHIP LINKAGES: AFRICA’S PATHWAY TO UNLEASHING ITS GREATNESS” DURING THE 9^TH AFRICAN LEADERSHIP MAGAZINE SUMMIT IN LONDON, UNITED KINGDOM, 17 – 18 JULY, 2024

Protocols

I would like to begin by appreciating the Board and Management of African Leadership Organization, the publishers of African Leadership Magazine, for inviting me as Keynote Speaker and Honouree at this epochal Africa Summit holding in London, United Kingdom.

2. The theme of the Summit “Africa Unleashed: Navigating Disruptions, Enhancing Opportunities” is a clarion call to galvanize policymakers, political and business leaders, diplomats, civil society and thought leaders, along with other key stakeholders from across Africa, the UK, and the rest of the globe to explore diverse pathways for sustainable socio-economic development in Africa. Besides signifying that Africa has commenced its journey towards repositioning itself in global affairs, this summit should deliver the blueprint to navigate the identified obstacles and optimize the opportunities for Africa’s greatness.
3. There is shared acceptance that unlocking Africa’s immense potential requires a multilayer approach which features a convergence of different pathways. First, Africa must address its leadership crisis by adopting genuine democratic principles and values, promoting good governance and a culture of transparency and accountability to achieve political stability and ensure lasting peace and security on the continent. Next, it must efficiently harness available funding sources (WB, AFDB, China-exim, and other bilateral loans etc.) and channel same towards massive infrastructural projects, with particular focus on energy (power), transportation networks, and modern communication systems, to facilitate economic development.
4. There is a need to strengthen and deepen regional integration (AU, ECOWAS, EAC, ECCAS, SADC, UMA) and to promote intra-African trade and collaboration to benefit from the economies of scale and leverage Africa’s collective potential. The revival of a common identity and cultural renaissance will enable Africa to preserve, celebrate, share, and export its rich heritage of customs and traditions, arts and culture, music and dances, fashion and cuisines, movies and athletic abilities through sport. It will also provide a more equitable basis to build strategic partnerships with global players to access new markets, adopt new technologies, and exploit investment opportunities.
5. Africa must recognize and partake in the vast opportunities presented by environmental sustainability and climate action. Concerted efforts must be made to protects its natural resources, adopt conservation and renewable energy, promote eco-friendly lifestyles and practices to guarantee a sustainable future,
6. These possibilities and potential can only be realized if there is a strong resolve and commitment by African leaders to invest in their people through education and entrepreneurship development. Investment in quality education, skills development, vocational training, and continuous capacity building will produce a globally competitive workforce. Similarly, embracing technological advancements and digital transformation will accelerate innovation, while vigorous promotion of entrepreneurship will enable Africa to leapfrog the conventional development stages.
7. When Africa prioritizes its human capital by investing in health care, poverty reduction, social welfare, and education, it will build a healthy, skilled and productive population. Indeed, empowering Africa’s young and growing population will yield bountiful benefits and enable the continent to leverage its competitive advantage in natural resources and human capital. It will birth an era of rapid economic growth and a boom in innovation and entrepreneurship.
8. Entrepreneurship Education seeks to provide students with the knowledge, skills and motivation to encourage entrepreneurial success. It is the handshake between education and entrepreneurship, through which entrepreneurial attributes are imbibed. However, the education system of many African states no longer meet the requirements of the modern-day competitive world. There is a disconnect between curriculum offerings and the needs of society and this is reflected in the subpar entrepreneurial development in the continent.
9. Entrepreneurship education will develop students to think in a creative and critical manner, to recognize and pursue opportunities, and to establish and operate new ventures. Currently, our educational systems are producing graduates that will be dependent on others for their livelihood as opposed to those who can create jobs and generate wealth.
10. As Africans, we cannot continue to hope for greatness. We must make concerted efforts to achieve it. As a continent, we must recognize the important role of entrepreneurship as the engine of growth and sustainable development. By leveraging advanced technologies and unlocking the possibilities of science, the seeds of tomorrow’s innovation must be planted and nurtured in our campuses today. By shining a spotlight on best practices and by collaborating with strategic partners across sectors, we can equip the youth with the knowledge and skills to reimagine the future and build a global economy that is more resilient and more prosperous for everyone.
11. Given the commencement of the African Continental Free Trade Area, it is important to support firms to become regionally competitive, and then aspire to continental leadership. This will require taking deliberate steps to promote industrialization, the development of indigenous technologies and the provision of business support services to indigenous firms to enable them effectively compete globally.
12. Accordingly, repurposing entrepreneurship education in the higher education institutions will require;
13. Alignment of research funding to Africa’s specific economic development priorities;
14. Implementation of a robust monitoring and evaluation process across R&D and entrepreneurship programmes;

• Establishment of technology transfer and commercialization structures and processes to assist in improving uptake of research outcomes, which will lead to development of indigenous technologies, and establishment of new firms.

1. Establishment of technology hubs and entrepreneurship development centres for unleashing the creativity of the youth and spurring an uptake in the development of local solutions;
2. Implementation of processes to facilitate University-Industry Collaboration to enhance uptake of research outcomes and ensure that research focuses on identified needs; of industry and the local community, and establishment of industrial, knowledge, science & technology parks around tertiary institutions.
3. TETFund, which I lead, has funded many innovative initiatives such as research for Impact (R4i) and TETFund Alliance for Innovative Research (TETFAIR) targeted at deepening impactful research and uptake of research outcomes with potential for commercialization. In the last year, over 600 lecturers from our tertiary institutions have benefitted from the “Research for Impact” programme and have developed 95 prototypes from the initiative.
4. Under the TETFAIR programme which is in its fourth cohort, 44 teams of 176 researchers have been trained from tertiary institutions across the six (6) geopolitical zones. The first cohort of sixteen (16) teams have developed sixteen (16) prototypes. Most noteworthy is that a team designed and developed a hearing aid that is self-programmable, affordable, and more suitable for the African market. This Team was selected among the top 3 participants in the ARC Center for Digital Innovation Entrepreneurship Program at the Sheba Hospital in Israel where they presented their innovation at an international medical conference. Interestingly, all prototypes have been tested and are receiving positive feedback from potential investors.
5. Furthermore, the Fund is also sponsoring the establishment of four (4) regional multi-purpose research laboratories, twelve (12) innovation hubs and twelve (12) entrepreneurship centres in tertiary institutions across the country under the 2023/2024 interventions. The aim is to provide the enabling environment for conducting ground-breaking research and development of innovative technologies to enhance entrepreneurship, innovation and employability in line with contemporary global best practice.
6. As a great believer in Africa’s promise, I am convinced that the continent will emerge as a global powerhouse in the next decade. Education and entrepreneurial linkage will be the catalyst to stimulate innovation, develop and hone problem-solving skills, encourage technology adaptation, promote job creation, economic growth, and global competitiveness. I also believe that Africa can empower its population to become dynamic entrepreneurs capable of driving sustainable development of the continent. Let us therefore resolve from this summit to utilize the opportunities provided by education and entrepreneurship to unleash Africa’s greatness.
7. Thank you for your kind attention.

The post Press Release: Arc. Sonny Echono’s Vision for Africa’s Greatness Through Education and Entrepreneurship appeared first on African Leadership Magazine.

The Honourable Renganaden Padayachy, an esteemed figure serving as the Minister of Finance, Economic Planning, and Development of Mauritius, has emerged as an architect of a financial and economic renaissance, not only within the borders of his homeland but also across the African continent and beyond.

His recent accolade as the “African Finance Minister of the Year” at the prestigious African Business Leadership Awards event, held by the African Leadership Organisation in London, is proof of his visionary guidance, strategic acumen, and unwavering dedication to propelling his nation’s economic progress. Within the following narrative, we delve into the exceptional achievements that define Honourable Padayachy’s tenure, contributing significantly to Mauritius’ ascension as a commanding economic force on the African landscape.

The tenure of Honourable Renganaden Padayachy has been marked by the implementation of groundbreaking economic policies that have effectively reshaped Mauritius’ economic panorama. Drawing inspiration from the wisdom of Mahatma Gandhi, who urged us to “be the change that you wish to see in the world,” Padayachy has ardently championed policies prioritising inclusivity, sustainability, and innovation. His visionary approach to economic planning has nurtured fertile ground for both domestic and foreign investments, thereby fostering robust economic growth across various sectors.

Steve Jobs’ words, “Innovation distinguishes between a leader and a follower,” perfectly encapsulate Honourable Padayachy’s leadership ethos. He has spearheaded the diversification of Mauritius’ economy, transcending conventional boundaries. By fostering the growth of nascent industries such as technology, renewable energy, and financial services, he has successfully positioned Mauritius as an epicentre of innovation and entrepreneurship, thereby reducing the nation’s reliance on single-sector dominance.

Honourable Renganaden Padayachy

In the face of global economic uncertainties, Honourable Renganaden Padayachy’s fiscal acumen and resolute resilience have illuminated his path. His adept management of economic challenges echoes the sentiments of Winston Churchill: “Success is not final; failure is not fatal; It is the courage to continue that count.” Guiding Mauritius through the tumultuous waves of economic volatility with remarkable agility, he has ensured the nation’s stability and cultivated a climate of confidence for both investors and businesses, hence the nickname name Architect of Prosperity.

The profound words of Nelson Mandela, “Our rich and varied cultural heritage has a profound power to help build our nation,” find resonance in Honourable Padayachy’s endeavours. He has harnessed the cultural heritage to champion sustainable development, recognising the symbiotic relationship between economic prosperity, environmental preservation, and social equity. Through strategic policies, he has championed green investments, supported renewable energy initiatives, and advocated sustainable practises that safeguard Mauritius’ natural beauty, gaining global acclaim for the nation’s dedication to a greener future.

Kofi Annan’s assertion, “To live is to choose, But to choose well, you must know who you are and what you stand for, where you want to go, and why you want to get there,” profoundly mirrors Honourable Renganaden Padayachy’s global outlook. He has meticulously nurtured collaborations with international organisations, fostering partnerships that facilitate knowledge exchange, trade pacts, and foreign investments. These strategic efforts have propelled Mauritius onto the global economic stage, amplifying its influence in shaping international economic dialogue.

In the wise words of Malala Yousafzai, “One child, one teacher, one book, and one pen can change the world.” Honourable Padayachy’s foresight recognises that the future of Mauritius hinges upon an empowered and skilled workforce. His policies have underscored the significance of education, vocational training, and technological upskilling, equipping the youth to embrace the evolving economic landscape. By fostering a culture of lifelong learning, he has paved the path for sustained economic growth driven by a skilled and adaptable populace.

As this narrative draws to a close, it is imperative to reiterate that Honourable Renganaden Padayachy’s tenure as the Minister of Finance, Economic Planning, and Development of Mauritius under the guidance of the President, His Excellency Prithvirajsing Roopun, and the Prime Minister, Honourable Pravind Jugnauth, has been profoundly transformative.

His visionary leadership, strategic acumen, and unwavering commitment to progress have propelled Mauritius to newfound heights of economic prosperity and global recognition. His recent recognition as the “African Finance Minister of the Year” stands as an accolade well deserved for his remarkable contributions, serving as an inspiration for future leaders across the African continent. Honourable Padayachy’s legacy underscores the profound impact that visionary leadership can wield, leaving indelible imprints on the annals of history.

The post Architect of Prosperity: Hon. Padayachy’s Role in Shaping Mauritius’ Modern Economy appeared first on African Leadership Magazine.

Can you tell us about your background and experience in the maritime industry so far?

Before my appointment as Managing Director and CEO of the Nigerian Ports Authority (NPA) in February 2022, I had a six-year track record of performance in the maritime industry, first as Executive Director Finance & Administration and subsequently as acting Managing Director.
In addition to the above, I possess over 20 years of broad-based experience across several functions, including oil and gas, large corporation portfolio management, and public sector financing, while working in the banking industry.

My exceptional contribution to Zenith Bank’s globally referenced profitability and balance sheet in the period 2005–2015 earned me numerous awards and a spot in the bank’s Executive Management Team as Deputy General Manager and Zonal Head.

What are the current challenges facing the Nigerian Ports Authority, and how are you addressing them?

A major issue affecting expedient cargo clearance processes are the customs processes and the fragmentation of custom units into multiple points within the port, as well as the operation of custom formations outside the port gates.
For the ports to be efficient and competitive, there needs to be a robust and efficient off-dock system that would operate as an extension of the port in a manner that facilitates the evacuation of cargo through rail or inland waterways.

There is an urgent need for the operationalization of the National Single Window (NSW) to be activated by the Nigeria Customs Service (NCS).

Functional Overlaps due to many Agencies operating within the port lead to avoidable delays and an attendant increase in port costs.
To improve the ease of Doing Business, harmony is required between NPA’s drive for trade facilitation and Nigeria Customs focus on revenue generation.
There is also the challenge of getting Nigeria Customs Service (NCS) to adopt the World Customs Organization’s (WCO) guidelines on transshipment, which focus on easing transshipment procedures and position Nigeria to win back transit cargo and service the maritime needs of our landlocked neighbours.

The cumbersome and long process of the Procurement Act limits the authority’s ability to respond in a timely manner to emergencies. There is a cost implication to delays of any nature in the maritime sector.

There is also the need for the government to approve an upward review of the authority’s tariff, which has been STATIC since 1992/93. This is expedient to bolster the authority’s finances to enable it to cope with its widening responsibilities.

We are also faced with the challenge of being unable to speedily undertake maintenance of Port access roads due to the need to seek approval from the Federal Ministry of Works and Housing (FMW&H).

The low threshold for Procurement approvals by the Executive Management/Parastatal Tenders Board (PTB) is also a challenge that impedes a quick response to the emergent needs of Port Operators.

Conflicting legislation with sister agencies is affecting the discharge of their respective responsibilities.

Ageing Port infrastructure, some of which is over 100 years old, has developed in a way that is not sustainable.

Full-scale rehabilitation is required, and discussions are ongoing with multilateral forwarding agencies to address the challenges.

What steps have you taken to improve the infrastructure and technology at the ports?

There has been an unprecedented investment in infrastructure and equipment renewal within the budget and through partnerships and the deployment of public-private partnerships to fund areas that are beyond budgetary provisions. The following steps have been undertaken:

a.) INFRASTRUCTURE AND EQUIPMENT RENEWAL: We have equipped, rehabilitated, and Operationalized state-of-the-art Control Towers for the Lagos and Tin Can Island Port Complexes. – Procurement and deployment of Security Patrol Boats (SPBs) across all Port locations has led to enhanced channel security and addressed the incessant attacks of vessels along the channels and at ports waterfronts, which has resulted in unprecedented cargo traffic in the Eastern Ports, especially the Onne Port Complex. Acquisition of more harbour craft (Tugboats, Pilot Cutters) to eliminate delays associated with berthing and sailing of vessels and improve efficiency at the ports Acquisition of first-of-its-kind marine crafts in Africa, such as the recently commissioned two units of Azimuth Stern Drive (ASD) 8213 model 80-tonne Bollard Pull Tugboats to enable the berthing of very large vessels of 300 metres LOA and above.

b.) IMPROVED NAVIGATIONAL AIDS Provision and installation of navigational Aids and Buoys for Warri and Calabar Pilotage Districts for proper channel marking and route mapping

c.) DIGITALIZATION AND IMPLEMENTATION OF THE PORT COMMUNITY SYSTEM: We have Completed the 1st phase of consulting for the Port Community System (PCS) under the technical guidance of the International Maritime Organisation (IMO). The PCS will lay the groundwork for the National Single Window (NSW), which constitutes the global benchmark of port efficiency. – Automation of port ship reception and billing payment with the Revenue Invoicing and Management System (RIMS) – Deployment of electronic manifest and ship entry notice documentation processes – Deployment of an electronic Traffic Management system – Operation of Oracle Financials and Oracle HR – Ongoing procurement of software for harbour automation

d.) DOMAIN AWARENESS CAPABILITY: We have awarded the consultancy contact for the deployment of Vessel Traffic Service (VTS), a maritime safety measure that equips us with Domain Awareness Capability to enable us to guide and provide safety information to vessels within our channels and port approaches, in line with the Safety of Lives at Sea (SOLAS) convention. Also, we have concluded the authority-wide equipping and strengthening of Radio Signal Stations.

There seem to be disparities between the Ports Act and the Fiscal Responsibility Act and the Finance Act in terms of the usage of funds generated by the NPA; how do you balance things up?

The NPA is a creation of law, and as a responsible Management team, we are duty-bound to operate within the confines of extant laws and constitutional derivatives such as the Finance Act, etc. Although we would prefer a situation where we could be allowed to deploy a portion of our revenues towards infrastructure and equipment acquisition, we cannot operate outside of what the government and the law permit.

How do you ensure that the ports operate efficiently and effectively while maintaining high levels of safety and security?

Safety and Security actually constitute part of our core values, so keeping up with these core values deepens our efficiency and effectiveness. The Onne and Calabar ports are ISO certified, while others are in advanced stages of certification. The authority has continued to invest in security architecture as demanded in the ISPS Code.
We have also committed to collaborating with security agencies by providing funding and security boats to check for attacks on vessels and other crimes at sea.

How do you ensure that the Nigerian Ports Authority remains competitive in a global market?

In the international business that maritime is, competitiveness is assured by efficiency. Since we understand that automation is the linchpin of port efficiency, we have more than ever before infused technology into our processes, ranging from collections to traffic management to crucial operational aspects.
But in a more comprehensive and sustainable manner, we are tenaciously working under the technical guidance of the International Maritime Organisation (IMO) to deploy the Port Community System (PCS), which is an Information Technology strategy that consolidates all intra- and inter-agency exchanges and information sharing under a single window, thereby ensuring speed and seamlessness.

What is your vision for the future of the Nigerian Ports Authority, and how do you plan to achieve it?

My vision is to see a Nigerian Ports Authority that meets the exigencies of the highly competitive global maritime sector, and we are taking studied and deliberate action steps towards this vision. As you are aware, Nigeria’s first Deep Seaport and first fully automated Port at take-off (Lekki Deep Seaport) commenced operations in record time because we fast tracked the approval process precedent to its operationalization, which ordinarily should take a much longer period. We have also secured approval for Badagry Deep Seaport, Ondo Deep Seaport, Snake Island, and Koko Ports, all in record time.
We are also deploying PPP initiatives to fix ageing Port Infrastructure across our existing locations, and we are regional leaders in the acquisition of state-of-the-art marine crafts such as the recently deployed ASD 8213 Bullard Pull Tugs, amongst others.
The Port master plan is also in advanced stages of conclusion. We also funded the publication of the Nigerian Port Process Manual (NPPM), which for the first time codified all processes and inter-agency exchanges required to do business in Nigerian Ports to support ease of doing business.

Can you speak to the role of the Nigerian Ports Authority in promoting trade and economic development in Nigeria?

Recognising our role as Nigeria’s foremost trade facilitation platform and gateway to the national economy, we are always ahead of the herd in ensuring bottlenecks impeding trade are eliminated through simplified initiatives, inter-agency collaborations, and indeed advocacy. Our strong advocacy and collaboration, for instance, led to the unprecedented speed that attended the designation of Lekki Deep Seaport as an Approved Customs Wharf and its publication in the public gazette. We are currently holding hands with the Nigerian Customs Service (NCS) and leading the advocacy at the highest policy-making level for Nigeria’s adoption of the World Customs Organization’s (WCO) guidelines on transshipment to pave the way for Nigeria’s attainment of Port hub status. Our approval of ten (10) Export Processing Terminals in partnership with the Nigerian Export Promotion Council (NEPC), which is targeted at ensuring the competitiveness of Nigerian exports, will give a fillip to the diversification of the national economy from solely crude oil dependent to non-oil dependent, etc.

How do you work with stakeholders, including government agencies, shipping companies, and port users, to achieve your goals?

The Authority continues to have a quarterly stakeholder meeting as a way to Intensify partnerships and collaborations with all stakeholders.

What measures do you have in place to ensure transparency and accountability in the management of the Nigerian Ports Authority?

Our revenue and invoice management, tariff, and billing processes are simplified and fully automated. We are also up to date with the audit of our financial books and accounts. The Authority is the first to open its budget to the public through the budgIT platform.

How do you balance the need for growth and development with environmental concerns and sustainability?

We are signatories to and implement all IMO and IAPH conventions and instruments on port sustainability. We recently got the Onne and Calabar Port Complexes ISO certified, while all the other ports are in advanced stages of certification.

What would you say is your biggest achievement as MD of the Nigeria Ports Authority?

Unprecedented revenue generation and remittance to the Consolidated Revenue Fund (CRF) of the federal government of Nigeria, the commencement of operations of the first Deep Sea Port in Nigeria, the Lekki deep sea port, Trade Facilitation achieved through the automation of the billing and revenue collection process, improved export earning in line with the diversification policy of the Federal Government by licencing (10) export processing terminals as a one-stop shop for seamless export, and breaking of the 18-year salaries and emoluments stagnation of NPA employees, including pensioners

You are being bestowed with the “African Ports Administrative Excellence Awards 2023” on a global stage by the African Leadership Magazine. What further burden does this honour place on you in the days ahead as you continue your tour of the Nigerian Ports?

This recognition can only spur us to do more to advance the frontiers of trade facilitation and improve the economic fortunes of our beloved country, Nigeria.

The post A Visionary Leader: Meet the Man Steering Nigeria’s Ports to Prosperity! appeared first on African Leadership Magazine.

As their wealth is tied to investments till today, Egypt’s wealthiest men have spread their money all over the world, they have invested in industries that continue to generate more wealth for them, and keep spreading the fame of their names.

They contribute to the world’s economies by creating jobs, and the products they bring into the market make life easier. Indeed, it takes a great deal of expertise to diversify such business enterprises and manage them successfully. Their business ideas and perseverance have strengthened and made their companies grow from day to day.

Below is a list of successful entrepreneurs in Egypt according to their net worth, and what businesses they are involved in;

NASSEF SAWIRIS (Net worth $7.7 bn)

With a net worth of $ 7.7 billion, Nassef Sawiris is the richest man in Egypt. Although his wealth springs from his father, his family made its wealth during the reign of former president Hosni Mubarak. Sawiris now runs Orascom Constructions industries, Egypt’s most valuable company.

The company was established by his father Onsi Sawiris. He is one of the wealthiest men in Africa. Aside from his businesses in Egypt, he also has other investments such as the Multinational cement giant Lafarge which is involved in several markets including Nigeria.

NAGUIB SAWIRIS (Net worth $3.5 bn)

Sawiris net worth currently is estimated to be at $ 3.5 billion and he is the older brother of Nassef Sawiris. He is the oldest son of Onsi Sawiris, patriarch of the Sawiris dynasty.
Naguib Sawiris managed Orascom Telecom successfully for many years and sold it to Russian telecom giant VimpelCom for $ 6.5 billion in shares and cash. That move made him the largest shareholder in VimpelCom. With that move, he has spread his wealth from Egypt to Russia, and they may be the key to the establishment of the Sawiris family in Eastern Europe.

MOHAMED MANSOUR (Net worth $2.5 bn)

Mohamed Mansour’s $2.5 billion net worth brings him into reckoning as one of Egypt’s (and Africa’s) biggest men. He is one of the biggest dealers of GM vehicles in the world. He has aligned himself very well with American businesses, GM has made him one of their distributors not just in Egypt but throughout the continent.
Mansour also has also deals in heavy vehicles, he sells trucks and tractors, especially Caterpillar branded vehicles throughout Africa, Russia and Iraq. Mansour also has other business interests such as Metro Supermarket, which is the largest supermarket chain in Egypt and the Philip Morris franchise.

MOHAMED AL- FAYED (Net worth $ 2.1 bn)
Mohamed Al-Fayed is an Egyptian-born businessman who lives in England. He has over the years proved himself as an astute businessman. He was once the owner of both Harrods department store and the Fulham Football Club. Now he has several business interests including the ownership of Hotel Ritz Paris.
Many people do not know that it was his son Dodi who was in a romantic relationship with Princess Diana (Princess of Wales) and who died with her in a car crash.

ONSI SAWIRIS (Net worth $ 2bn)

Onsi Sawiris is the patriarch of the Sawiris Family, Egypt’s wealthiest family. He has probably made more than 7 billion dollars during his career, he is an astute businessman. His first construction company was nationalized y the Egyptian government, but he went on to find another one, which is now run by his son Nassef. He took over in 1995.
Onsi Sawiris has taken a back seat, his net worth is now tied to his shares in Russian mobile Operator VimpelCom which his son bought over through shares when he sold Orascom Telecom.

YASSEEN MANSOUR (Net worth $ 2 bn)

Yasseen Mansour is the youngest of the three Mansour brothers. He is the second biggest real estate developer in Egypt, and recently did a development so large that it sent ripples to Interpol. Palm Hills Development, a mega deal brought up accusations of using state land, but Yasseen Mansour has been cleared of such charge.
Yasseen has resigned as CEO of the Development Company, but remains chairman. Nevertheless he has a huge stake in the family’s GM dealership business.

YOUSSEF MANSOUR (Net worth $1.95 bn)

Youssef Mansour is one of the Mansour brothers as well. He too has interests in the publicly traded real estate development company Palm Hills Development. Aside from that, he has been one of the key figures responsible for building Metro, Egypt’s largest supermarket chain.
He also has interests in the family’s automotive dealership which is the largest seller of GM vehicles in the world, and also Caterpillar machines. Youssef also does lots of charity work. He is the focal point of the family foundation which funds literacy and poverty alleviation work in Egypt.

SHAFIK GABR (Net worth $ 720 million)

Shafik Gabr is not yet a billionaire, but he is probably going to become one very soon. He has proved himself as one of the most astute businessmen on Egyptian soil. He founded and built conglomerate ARTOC, a company that has several interests including steel fabrication, logistical services, and specialized services for oil and gas companies.
He has also been an avid art collector, he has a vast collection of contemporary pieces which focus on Oriental art. Gabr owns a foundation that promotes East-West dialogue. The foundation provides a platform for the arts, science and business.

SAMIH SAWIRIS (Net worth $ 525 million)

Samih Sawiris is another son of the great Sawiris Family. He is the chairman of the board of directors of Orascom Development, his business is primarily real estate development, as well as the hospitality industry, and the development of the tourism sector.
As a Sawiris he is thought to have a stake in the family telecommunications company VimpelCom which his brothers bought by selling Orascom Telecommunications.

AHMED EZZ (Net worth $ 312 million)

Egyptian steel tycoon Ahmed Ezz owns 61.89 percent of his eponymous Ezz Steel SAE, an Egypt- based manufacturer and trader of steel and related products. The company is the largest independent steel producer in the Middle East and North Africa, and exports long and flat steel products to many countries around the world. His stake is currently valued at $ 312 million.

SADEK SEWEDY (Net worth $ 149 million)

Sadek Sewedy is a son of the Sewedy family which is a notable industrial family in Egypt. He is the chairman of El Sewedy Industries Group, mainly active in the energy and lighting sector. His company produces several electrical products as well as hardware for the power generation and distribution sectors.

El Sewedy Electric was recently established in Nigeria, the company now operates an ultra-modern production facility in Lagos, Nigeria. Where electric poles and insulators, as well as transformers, are built. The factory employs about one hundred people, and some expatriates as well.

The richest men in Egypt have achieved their money all over the world, not because they do not have faith in their homeland, but because they have been well informed about business opportunities as they become available in other parts of the world business. After all, it’s all about making a profit which is what these men have done.

The post A Galaxy Of Egypt Richest Entrepreneurs appeared first on African Leadership Magazine.

Farai Munjoma, Founder and CEO of Shasha Network, a digital learning company providing young people access to academic and career education, believes that entrepreneurs are made.

At the age of 12 years old, Farai’s mother gave him the vexatious task of selling chickens at the local market. His father had lost his job in the wake of Zimbabwe’s economic collapse and his mother had become the sole breadwinner for the extended family. Having told Farai that her civil servant salary wasn’t enough to cover his school fees, she sent him on a mission to make up the shortfall. Zimbabwe was at the peak of hyperinflation and the economy was in turmoil, which resulted in the loss of livelihoods for many families. Although consumed with feelings of embarrassment, Farai’s youthful charm saw him become a hit, with his chickens soon selling out before he could even reach the market on his bicycle.

Through this experience, the seeds of entrepreneurship were planted. They were not to bloom, however, until Farai was confronted with stark inequalities in the educational landscape. “Many children dropped out of school at the time and we lost our best teachers to neighbouring countries such as South Africa and Botswana” Farai recalls. Recognising that many of his peers lacked access to a good education, while he was afforded the opportunity to attend one of Zimbabwe’s top high schools, Farai aimed to level the playing field by launching an e-learning social enterprise, Shasha Network, at the age of 18. Whilst completing his A-levels, Farai worked on digitising curriculum notes and sample exam papers for students to access for free. He realised early on that education was the key to breaking the poverty cycle for young Zimbabweans.

Since launching in 2015, Shasha has reached thousands of students across the continent and has grown to become an award-winning online learning platform. Through Junior Achievement Africa’s entrepreneurship program for high school students, Shasha Network was able to access mentors and support. This was only the beginning of Shasha’s journey as Farai’s experience later on in his pursuit for tertiary education would inspire a new approach to Shasha Network’s work through their Bridge program.

Pursuing an education without enough funds

Having been selected to attend the African Leadership Academy’s (ALA) catalyst term in South Africa, Farai became determined to study a Business Management degree at African Leadership University’s (ALU) campus in Mauritius. He was inspired by the innovative thinking that characterises ALA and ALU’s disruptive educational model. The only snag was that he couldn’t afford the fees to attend the university of his dreams. Today, only 9% of youth in Africa are in tertiary institutions, and as the population increases, this will continue to put a strain on available institutions and lack of access to tertiary education will continue to plague the young people. Given this predicament, Farai courageously reached out to 50 people he had met throughout high school and his time at ALA, in the hope that someone would be able to provide financial support. After receiving dozens of rejections over the following months, he was about to give up when he saw an email in his inbox with the subject line, “Get Ready for College.” An American videographer who had visited his school in 2012, with whom Farai had formed a connection after the painful passing of his mother, convinced 15 of his friends to contribute towards Farai’s tuition. Farai credits the success of his enterprise with the life-changing connections he’s formed and the resources he’s mobilised through the African Leadership Group. Soon after completing his degree, he started working directly with Fred Swaniker at the AL Group, a role he took on upon graduating from ALU last year. It is an opportunity he doesn’t take lightly; he’s grateful to have worked for a visionary such as Fred, who has become his greatest mentor and role model.

What is Your Vision for Shasha Network?

To reach millions of high school students across the continent, breaking barriers through digital learning and providing access to our career development program, Shasha Bridge. Farai believes that what keeps many young people from accessing the right education opportunities is that they lack access to information and mentorship that can enable them to develop and aim for their highest career aspirations. This goes beyond academic coursework — it’s about exposing young people to crucial concepts such as mentorship, career research, personal branding, and self-leadership. These will prove effective as they venture out into the world in search of opportunities. Thanks to the learning experiences I was exposed to at ALU and the internships I was able to take part in, I’ve managed to raise funds from companies such as Facebook Africa and FedEx to support students.

What is the greatest lesson learned from the African Leadership Group?

Fred Swaniker is by far the hardest working person I know. I thought I knew what working hard looked like before becoming Deputy Chief of Staff. I’m a testimony to the power of what Fred is building. I’ve seen how the African Leadershipeadership Group opens doors and unlocks incredible opportunities for thousands of young people. It’s exciting to be part of setting up a foundation for millions to access this type of education. The institution’s ability to chase moonshot missions such as creating 3 million leaders has also inspired the Shasha Network to be bold in its pursuits.

What do you think it takes to be a successful entrepreneur?

Three things. Firstly, you need to find a problem that you’re passionate about and it has to resonate on a deep level. If you’re going to put in the long hours and put up with all the sacrifices you’ll have to make, you need to believe in what you’re doing. There’s no justification for embarking on an enterprise if you can’t envision yourself being committed to it for the next 5–10 years and beyond.

 Secondly, you need to build relationships if you want to succeed. I would be nowhere without the relationships I’ve formed. They’ve linked me to a wealth of resources and opportunities. More entrepreneurs must get immersed into a vibrant ecosystem that connects them with a community of mission-driven people. Access to these types of relationships is more valuable than anything. Young people exchange and cross must pollinate ideas across borders, as some of our most pressing challenges will not be solved in isolation.

Thirdly, you need to have empathy for the people you’re impacting. Every user of your product or service, every employee, and every client has to be made happy by what you’re offering, so empathy is crucial. The challenge should be to put people at the centre of whatever work you do.

What’s next for the Future?

The future of Africa highly hinges on the ability of young people to be able to create value for their communities through innovative business solutions. Our continent is a rich ground for new entrepreneurial endeavours, the most resilient ventures in the coming years will be those which are well networked. Being part of a bigger ecosystem will guarantee continuous learning and resource exchange. My personal experience building Shasha Network and working with organisations such as the African Leadership Group is a testament to the possibilities that exist when you bring like-minded people together.

 Farai is currently pursuing a Master’s in Entrepreneurship and Innovation at the University of Edinburgh Business School, whilst remaining as the CEO of Shasha Network. He is one of 21 scholars from Africa, selected by the Mastercard Foundation to study on scholarship at the university. At the Business School, he is an Africa Lead Curator for the Entrepreneurship Society, where he is responsible for designing and curating seminars aimed at creating awareness about the African entrepreneurial ecosystem. “I took up this role as a way to connect my western colleagues to local African entrepreneurs and demystify the misconceptions about doing business on the continent.” Farai is determined to foster partnerships and collaborations that will see the next generation of leaders working together to achieve shared prosperity. His journey has been pivotal in exposing him to entrepreneurship, not only through observing other entrepreneurs but through doing. This is what makes him confident that more entrepreneurs can be created to solve the world’s most pressing challenges, which is what his organisation Shasha Network is working towards.

The post Entrepreneurs – Born or Made? appeared first on African Leadership Magazine.

The “Best Employers in Tunisia” programme is an initiative forming a part of the international certification programme titled “Best Places to Work” with an aim of rewarding the best employers of labour in different countries. Evaluation for the award is based on the analysis of the attractiveness of a company through a two-step process which is focused on 8 dimensions around the company’s culture, management leadership, learning opportunities and HR practices.

Currently, the international certification programme for companies is running in its 6th year as it has been organised for the past 6 years in Tunisia. The value it provides is to honour companies that distinguish themselves by the quality of HR policies and practices.

The 2021 version of the “Best Employers in Tunisia” put into consideration also employer-employee relationship during the pandemic with rewards for various actions undertaken by employers to retain their employees and support them in their professional development while ensuring the preservation of their health.

The post Tunisia: ‘Best Employers in Tunisia’ Programme Unveils List of Winning Companies for 2021 appeared first on African Leadership Magazine.

The Forum of Young Leaders, which has 1,400 members and alumni representing over 120 nationalities, is an independent non-profit foundation that brings diverse, dynamic, and global representative leaders together for a personalized leadership program which will span five years.

As a Young Global Leader, Ozor will embark on a five-year leadership development journey which will be tailored towards helping him attain a higher level of excellent achievements and impact as he continues to build his business and brand into global entity worthy of immense recognition.

The selection process of the Forum is one which seeks to create a truly representative body, candidates are evaluated by a committee mandated to review thousands of publicly nominated candidates and select between 100 – 150 new members.

Elated at the opportunity, Ozor, noted his thrill at joining the program and the recognition it brings as a global honour. He said: 

“I am thrilled to be joining the World Economic Forum’s Young Global Leaders program. Being recognised by such a prestigious organisation gives me faith that the work we’re doing at Kobo360 is indeed making an impact, not just in Africa, but globally”

He also commended the efforts and work which have gone into building the initiative he co-founded – Kobo360, noting that it was not the easiest of tasks to introduce a technology-enabled platform in a space that already had existing ways of operating. He also restated the commitment of the brand to steady growth and development as it is being built for the global stage. Speaking on it, he said: 

“We still have a long way to go, but we are in it for the long haul! At Kobo360, we have created an African Logistics industry where technology is at the forefront of business, and I am looking forward to collaborating with other Young Global Leaders across the world, in different sectors of business, to tackle global challenges”

Mariah Levin, Head of the Forum of Young Global Leaders, noted that selected individuals were a class comprising of courageous leaders with a vision towards the Post-pandemic era. According to Levin:

“The YGL Class of 2021 is comprised of thoughtful and courageous leaders who will shape a more sustainable and inclusive post-pandemic era”

Obi Ozor, a leader in the African logistics and technology ecosystem, launched the platform Kobo360 in 2017, as co-founder, alongside Ife Oyedele II, and with over seven years of logistics and supply chain experience, he manages all key aspects of Kobo360 including operations, controlling investments, compliance risk management and product growth. Before Kobo360, Obi worked as the Operations Coordinator at Uber Nigeria as well as an Investment Banker at J.P. Morgan.

In his endeavours,  he has channeled his focus and efforts into creating mass-employment for Africa through job creation, with Kobo360 working with over 50,000 trucks and drivers across the continent. He has been conferred and recognized with several awards including CNBC All Africa Business Leaders Awards 2019 ‘Innovator of the Year’ and ‘Young Business Leader of the Year’, and most recently, he was named one of Fortune Magazine’s 40 under 40 ‘Global Leaders in Technology for 2020’.

The post Obi Ozor Earns Global Recognition As WEF Young Leader For 2021 appeared first on African Leadership Magazine.