RMB CORVEST. WITH YOU AS YOU GROW - Sea mew Journalism 海鸥新闻
←
→
Page content transcription
If your browser does not render page correctly, please read the page content below
13178/FA
RMB CORVEST.
WITH YOU AS YOU GROW.
RMB. Solutionist Thinking.
With over 200 deals completed in nearly 30 years, we have built our reputation on facilitating growth and yielding maximum returns
on investment for our partners. As an on-balance sheet private equity company, we use our own funds for investment rather than funds
from third party investors, which means we are able to invest for the longer term without external timing pressures. It’s this Solutionist
Thinking approach that enables us to focus on what we’re good at – partnership, growth and black empowerment – so that you can focus
on what you’re good at, your business.
Call +27 11 380 8300 to find out how we can grow your business.
www.rmbcorvest.co.za
THE WORLD BENEATH OUR CITIES • THE BUSINESS OF EXECUTIVE JETS
www.forbesafrica.com
AFRICA
NOVEMBER 2018
INSIDE:
CASHING IN ON
CANNABIS
DURBAN’S BOOMING
FARMERS MARKETS
AFRICAN FLAVORS
IN LONDON
THE MONEY
MEN
NIGERIA’S PIONEERING FATHER-SON
DUO PASCAL AND UZOMA DOZIE
ON THE FUTURE OF BANKING AND
BUILDING WEALTH
AN COMPANY
South Africa ZAR 50.00 (incl VAT) | Nigeria NGN 1,200 | Ghana GHC 15 | Kenya KES 510 | Tanzania TZS 9,300 | Uganda UGX 15,100
Zimbabwe USD 4.50 | Mauritius MUR 130 | Botswana BWP 40 | Namibia NAD 50 | Mozambique 270 Mts | Rwanda RWF 3,600
akagera national park nyungwe national
park
volcanoes
national
park
Lake kivu
live
entertainment
in kigali
Rwanda’s Top 5
DESTINATIONS
Volcanoes National Park DPMPCVTNPOLFZT5BLFBTUSPMMUISPVHIUIFDBOPQZBMPOHBNIJHIXBMLXBZGPSFYIJMBSBUJOH
5XPBOEBIBMGIPVSTOPSUIPG,JHBMJZPVXJMMmOE7PMDBOPFT/BUJPOBM1BSL IPNFUPNPTUPG WJFXTPGUIFSBJOGPSFTU
UIFXPSMETSFNBJOJOHNPVOUBJOHPSJMMBT3XBOEBJTBNPOHPOMZUISFFDPVOUSJFTJOUIFXPSME
XIFSFZPVDBOUSFLUPTFFUIFNBKFTUJDHPSJMMBTVQDMPTFoBUSVMZPODFJOBMJGFUJNFFYQFSJFODF Akagera National Park
3XBOEBT MBSHFTU OBUJPOBM QBSL JT IPNF UP B EJWFSTF BSSBZ PG QMBOU BOE BOJNBM MJGF 5IF
Lake Kivu MBLFT QBQZSVTTXBNQT TBWBOOBIQMBJOTBOESPMMJOHIJHIMBOETNBLF"LBHFSBBOJODSFEJCMZ
,JWV JT POF PG "GSJDBT (SFBU -BLFT XJUI EFFQ FNFSBMEHSFFO XBUFST BOE B TIPSFMJOF PG TDFOJDSFTFSWF5IFQBSLJTIPNFUPUIFFMVTJWF4IPFCJMMTUPSL TFWFOOFXMZJOUSPEVDFEMJPOT
NBHOJmDFOUNPVOUBJOTBOEmTIJOHWJMMBHFT5IFMBLFJTEPUUFEXJUIVOJOIBCJUFEJTMBOETUIBU FMFQIBOU MFPQBSEBOEUIFTIZCVUTUVOOJOHSPBOBOUFMPQF
DBOCFFYQMPSFECZCPBUBOEQSPWJEFUIFQFSGFDUMPDBUJPOUPSFMBYBOEFOKPZUIFQFBDFPG
3XBOEBTDPVOUSZTJEF Kigali
3XBOEBT DBQJUBM QSPWJEFT UIF QFSGFDU CBDLESPQ GPS B XFFLFOE HFUBXBZ "T POF PG UIF
Nyungwe National PARK TBGFTUDJUJFTJO"GSJDB ,JHBMJJTRVJDLMZCFDPNJOHBGBWPVSJUFGPS&BTU"GSJDBOBOEJOUFSOBUJPOBM
/ZVOHXFJTPOFPGUIFPMEFTUSBJOGPSFTUTGPVOEBOZXIFSFPOUIFDPOUJOFOU5IFMVTI HSFFO UPVSJTUT4BWPVSUIFUBTUFTPGJOUFSOBUJPOBMDVJTJOFBUUIFDJUZTCFTUSFTUBVSBOUTBOEFOKPZMJWF
GPSFTUJTIPNFUPPWFSCJSETQFDJFTBOEQSJNBUFTQFDJFTJODMVEJOHDIJNQBO[FFTBOE NVTJDBUUIFNBOZDMVCTBOECBSTJO,JHBMJ
TravelRwanda TravelRwanda @TravelRwanda
38"/%"5063*4.$0.
FORBES AFRICA
CONTENTS – NOVEMBER 2018 VOLUME 8 NUMBER 10
24
8 | Editor’s Note // Methil Renuka
10 | Brief 360
COVER STORY
16 | FATHER AND FUTURE
Key contributors to the growth of the Nigerian
economy, they have redeined banking by leveraging
technology and connecting people to market. From
just £100 in his bank account, Pascal Dozie has built a
business empire his son Uzoma is taking to the future.
BY PEACE HYDE
FOCUS
24 | COULD HE BE THE TURNING POINT?
Tito Mboweni inherits Africa’s sick economy as
president Cyril Ramaphosa chases growth.
BY GODFREY MUTIZWA
26 | THE SUB CITY: WHAT LIES BENEATH
What secrets does a city hold within its bosom?
In Johannesburg, one of them is an intriguing
labyrinth of tunnels that once served as a postal
26 delivery system. Could such relics of the past be the
subterranean realms of the future? Urban planning
points to what is now called ‘hypogeal cities’.
BY ANCILLAR MANGENA
38 | BEYOND THE PLUMES OF SMOKE THE
WEED ECONOMY
In September, South Africa became the third coun-
try on the continent to pass a ruling favoring canna-
bis. Last month, Canada fully legalized its use. The
world of business and medicine is slowly awakening
to its beneits, weeding fact from iction.
BY KAREN MWENDERA
TECHNOLOGY
48 | BLOCKCHAIN AT THE POLLS?
Blockchain is being adapted for election usage
elsewhere in the world, and could provide the an-
swer to making voting more transparent in Africa.
BY TOM JACKSON
Cover image by Kelechi Amadi-Obi
2 | FORBES AFRICA NOVEMBER 2018
56
ENTREPRENEURS
| THE IMPACT INVESTOR
54 Norman Beaulieu has an innovative business
approach to community development in Africa,
regenerating degraded land and providing solutions
to mitigate climate change.
BY NICK SAID
| TWO’S COMPANY
56 Two millennials, both FORBES AFRICA’s
Under 30 alumni, born on the same day and with
similar stories of entrepreneurship, are collaborating
to disrupt industries and shape the future of Africa.
BY ANCILLAR MANGENA
LIFE
64 | CRAFTS AND CAMARADERIE ON THE
COAST
Durban’s farmers markets are a magnet for
consumers and small businesses alike, boost-
ing the informal economy in the sunny South
African city.
BY REHANA DADA
| CHAMPAGNE AND CAVIAR IN PRIVATE
72 AT 30,000FT
The glamorous world of private jets is no longer the
domain of the super-rich. Private aviation is set to
soar in Africa as business keeps checking in.
BY GYPSEENIA LION
78 | TAKING A BITE OUT OF AFRICA
Hungry in London with a stomach dreaming of
home? From the smoky to the sensory, the city
offers distinct African culinary encounters.
BY ALASTAIR HAGGER
SPORT
| FAME AND MIGHTY BUCKS
86 Lebo Mothiba, only 22, is viewed as a potential
rising star who could rival the likes of Benni Mc-
78 Carthy and Steven Pienaar as one of South Africa’s
greatest sport exports.
BY NICK SAID
NOVEMBER 2018 FORBES AFRICA | 3
FORBES AFRICA
CONTENTS – NOVEMBER 2018 VOLUME 8 NUMBER 10
Pg72
CONTENTS – NOVEMBER 2018
CHAMPAGNE AND
CAVIAR IN PRIVATE
AT 30,000FT
BY GYPSEENIA LION
Now you can enjoy reading FORBES AFRICA at:
ACC RA
Distributors:
Also available at additional outlets. For further information on where you can find FORBES AFRICA, please contact:
Southern Africa: sikona.cibini@abn360.com +2711 384 0502
East Africa: mary.were@abn360.com +254 20 225 2150 • West Africa: patrick.omitoki@abn360.com +234 1 279 8034
4 | FORBES AFRICA NOVEMBER 2018
tranquil
Comfort is defined, relaxation is refined and an
enviable selection of entertainment savoured when
you stay at Mövenpick Hotel & Residences Nairobi
movenpick.com
AFRICA
NOVEMBER 2018 – VOLUME 8 NUMBER 10
Chairman: Zafar Siddiqi
Founder & Publisher: Rakesh Wahi
Managing Director: Roberta Naicker
Executive Director: Sid Wahi
Non-Executive Director: Busi Mabuza
Non-Executive Director: Sam Bhembe
EDITOR DIRECTOR,
Methil Renuka BUSINESS DEVELOPMENT
AND STRATEGY
LAYOUT AND GRAPHIC DESIGN Kudzai Kanyangarara
Lucy Nkosi | Katlego Banoe
PRODUCTION AND DISTRIBUTION
PHOTOJOURNALIST Sikona Cibini
Motlabana Monnakgotla
BUSINESS DEVELOPMENT MANAGER –
JOURNALISTS WEST AFRICA
Ancillar Mangena Patrick Omitoki
Melitta Ngalonkulu
Karen Mwendera BUSINESS DEVELOPMENT MANAGER –
EAST AFRICA
JOURNALIST – WEST AFRICA Patrick Ojil
Peace Hyde
ABN MANAGEMENT TEAM
Group Head of West Africa: Frederic Van de vyver
Head of Programming, CNBC Africa: Chris Bishop
Group Head of ABN Productions: Alexander Leibner
Group Head of Technical Operations: Jean Landsberg
Head of East Africa: Denham Pons
Head of Finance: Thameshan Sooriah
ABN Publishing, South Africa: 4th Floor, West Tower,
Sandown Mews, 88 Stella Street, Sandton, South Africa, 2196. Contact: +27 (0)11 384 0300
ABN Publishing, Nigeria Ltd.: Sapetro Towers, 6th Floor, East & West Wing, No 1 Adeola Odeku Street,
Victoria Island, Lagos, Nigeria. Contact: +234 (1) 279 8034 and +234 (1) 277 8236
ABN Rwanda: Rwanda Broadcasting Agency Oices, KG 7 AVE, Kacyiru, Kigali, Rwanda. Contact: +250 788 314 354
FORBES USA
Editor-in-Chief: Steve Forbes
Chief Content Oicer: Randall Lane
Art & Design: Robert Mansfield
Editorial Director, International Editions: Katya Soldak
FORBES MEDIA
President & CEO: Michael Federie
Senior Advisor, International: Tom Wolf
FORBES
ISSN 2223-9073 is published monthly except for two issues combined periodically into one and occasional extra, expanded,
or premium issues.
FORBES AFRICA EDITION is published by ABN PUBLISHING (PTY) LIMITED under a license agreement with Forbes Media LLC,
499 Washington Blvd, 10th floor, Jersey City, NJ, 07310.
Copyright©2018 ABN Publishing (Pty) Ltd.
Copyright@2018 Forbes LLC. All rights reserved. Title is protected through a trademark registered with the US Patent & Trademark Oice.
Founded in 1917
B. C. Forbes, Editor-in-Chief (1917-54); Malcolm S. Forbes, Editor-in-Chief (1954-90); James W. Michaels, Editor (1961-99);
William Baldwin, Editor (1999-2010)
SUBSCRIPTIONS:
For subscription rates and options, go to www.forbesafrica.com. FORBES AFRICA is available in South Africa, Namibia,
Mozambique, Zimbabwe, Zambia, Nigeria, Ghana, Senegal, Kenya, Tanzania and Uganda.
To subscribe online, change your address, or for other assistance, please visit www.magsathome.co.za.
You may also write to FORBES AFRICA subscriber service, subs@ramsaymedia.co.za or call +27 (0) 860 100 209.
Printed by
A division of Novus Holdings
6 | FORBES AFRICA NOVEMBER 2018
Easy to use website. Up to 50% more affordable than
traditional printers.
Order online, free and timely 5 000 + clients & growing.
delivery.
Get started today at printulu.co.za
Use discount code “Forbes” to get 10% of your irst purchase
Tel: 010 593 0558 Email: Support@printulu.co.za www.printulu.co.zaFORBES AFRICA
EDITOR’S NOTE
ENCOUNTERING
RAW POWER
T
he elephant in the ing morning. The saving grace that day was being able to track
room. the Nilgiri Tahr. I got my story, capturing at least 50 of the
I have heard endangered species on camera.
this idiom count- Surely, life on the road for a journalist is filled with pertinent,
less times at meetings and personality-changing experiences that ensure the ink in your pen
summits, referring to obvious never runs dry.
problems no one wants to ad- Also high up on that list for me, was looking for poisonous
dress. And every time I hear it, snakes, with the snake-hunting Irula tribals of South India who
I see the elephant in the room. make a living selling anti-venom.
The reason? I have literally In my two decades in mainstream print journalism in some of the
had an elephant in my room. most enticing economies around the world, I have had many such
Some of the infinite joys of unforgettable run-ins, with both beauty and beast.
this profession I hold so dear In Africa too, my first encounter with the wild was one night
are the unlimited opportunities to chase the stories you dream of – in Limpopo almost a decade ago while on assignment for a busi-
and occasionally, have the stories chase you. ness travel publication from Dubai. I was descending a moun-
As a young reporter with India’s biggest news magazine, I was tain in an open jeep with two other journalists, when we were
once sent on assignment to the hilly ranges of the Western Ghats to enveloped by a pride of seven lionesses.
track the endangered Nilgiri Tahr, a mountain goat endemic to the They circled the vehicle for a full five minutes, glaring,
region. growling and displaying raw power and fury as only nature can.
It was after 9PM when I arrived and checked into the hotel up the Indeed, these are the encounters that pump the adrenaline into
hill. On one side, it faced a deep, dark forest, and on the other, a man- our stories, as we draw lessons from nature and translate that feline
sion that uncannily resembled Norman Bates’ eerie cottage in Alfred power to become the leaders we must be.
Hitchcock’s 1960 film Psycho. I hope the travels you are planning over the holiday season take
The hotel’s owner doubled as the lone check-in staf and you too on some enlightening, emancipating journeys.
resembled Bates himself.
It was a cold, moon-lit night and my cottage was by a rumbling
river. I was going over my work notes around 11PM when the lights
went out.
I froze as I heard a loud thud by the long, wide windows – one
of which had opened in the wind – at the other end of the large
room. That is when I saw it – the silhouette of a mighty tusker, in
the flesh, motionless by the bay window, his massive trunk almost
Photo by Motlabana Monnakgotla
inside my room.
The next minute saw me sprinting out of the cottage in the dark
METHIL RENUKA, EDITOR
with my handbag, and to this day, I can’t remember if the elephant
chased me down as I ran for what seemed like eternity. letters@abn360.com
“Oh, I should have warned you,” grinned Mr Bates the follow- www.forbesafrica.com
Views expressed by commentators in this publication are not necessarily those held by FORBES AFRICA or its members of staff. All facts printed in FORBES AFRICA were confirmed as being
correct at the time the magazine went to print. Note: Dollar prices in the magazine are approximate figures and based on exchange rates at the time of going to press.
8 | FORBES AFRICA NOVEMBER 2018transaction solutions can help your business
visit www.interswitcgroup.com
or contact us on 01 628 3888
www.facebook.com/InterswitchGroup
twitter.com/InterswitchGRP
www.linkedin.com/company/interswitch-limitedBRIEF 360
TESLA MODEL 3 Tesla, Inc., headed by
BECOMING ONE OF THE South African-born CEO
BEST-SELLING LUXURY and chairman Elon Musk,
CARS IN AMERICA announced last month that
Reports by Bloomberg and it sold 55,840 Model 3s in
CNN reveal that Tesla Inc.’s the third quarter, nearly all
Model 3 is becoming one of of which went to American
the best-selling sedans in customers.
America. This made Tesla the first
The car broke into and only electric car to break
America’s top 10 best-selling into the ranks dominated
sedans of the third quarter by Japanese and Korean
and came 5th after Toyota carmakers
Corolla, Toyota Camry, Honda The average selling price
Civic and Honda Accord. of the Model 3 is $60,000.
FAMILY ISSUES REWARD AFTER AFRICA’S
YOUNGEST BILLIONAIRE GOES MISSING
The family of billionaire Mohammed Dewji has issued a
reward for anyone with information on his whereabouts.
Dewji’s family has ofered 1 billion Tanzanian Shillings
($436,674) to anyone who can help them find the
president of the MeTL Group.
The Tanzanian entrepreneur was abducted last month
on his way to a gym session at a luxury hotel in Oyster
Bay in Dar es Salaam.
Azim Dewji, a family spokesperson, said in a
statement: “We would also like to show our sincere
gratitude to everyone for their tremendous outpouring NEW ICONIC BRIDGE TO EASE TRADE
Uganda’s President Yoweri Museveni has commissioned a bridge
of love and support that we have received in the wake of
that has been hailed as a landmark in Africa, and connecting the
such adversity. We urge you to continue keeping MO in Ugandan capital Kampala with the port of Mombasa in Kenya.
your prayers as our nation continues the search for him.” The 525-meter New Nile Bridge or Jinja Bridge, opened oicially
Dewji was featured on the cover of FORBES AFRICA by Museveni last month, is the second cable-stayed bridge in
in July 2013 and was named FORBES AFRICA’s Person East Africa after Tanzania’s 680m-long Kigamboni Bridge, The
New Vision newspaper reports. The bridge is also the fifth-
of The Year in 2016. The 43-year-old single-handedly
longest of its kind in Africa.
turned his father’s trading business into Tanzania’s Museveni says the engineering feat is a symbol of the ongoing
largest import-export group. relationship between Uganda and Japan. The new bridge is
Dewji’s personal networth is $1.5 billion, according funded by the Japan International Cooperation Agency (JICA)
to the Africa billionaires list released by FORBES earlier and the Ugandan government. Business leaders in Kampala say
it will transform trade in East Africa.
this year. He is also Africa’s youngest billionaire.
10 | FORBES AFRICA NOVEMBER 2018FORBES AFRICA
BRIEF 360
FORBES AFRICA UNDER-30 LIST-MAKER
BAGS EMMY NOMINATION
South African actress Thuso Mbedu has
bagged her second international Emmy
nomination.
The 27-year-old shared the exciting news
on Twitter, saying: “A 2-time International
Emmy nominee. Wow.”
Mbedu has been nominated in the best
actress category, alongside other actresses
from Brazil, Germany and the UK.
The young actress was nominated for
her role in the second season of local drama
series Is'thunzi. AFRICAN STARTUPS ON -AgriProtein, a South
African startup solving
Mbedu was named by FORBES AFRICA TIME LIST the problem of sustainable
as one of 90 Africans under the age of 30 to In TIME Magazine’s animal feed for poultry
watch in 2018. first-ever list of 50 Genius and fish farmers by
The winners of the international Emmys Companies, several harvesting insect protein
will be announced at a black-tie ceremony on African startups are named through landmark fly
November 19 at the Hilton in New York.
alongside global brands farms.
like Netflix, Nike, Airbnb, -Wonderbag, a South
Spotify and musician African-made non-electric
Rihanna’s Fenty. portable slow cooker that
cooks food for up to 12
The African startups are: hours without the use of
Photo by Jay Caboz; Photo by Motlabana Monnakgotla; Photo by Victor Boyko/Getty Images for Aurora Humanitarian Initiative; Photo by Stuart
-Babymigo, a Nigerian any extra fuel source.
online platform for mothers -Kenya’s Ona, a mobile
and pregnant women. data collection company.
-Ghana’s Bitland, a real- -BRCK, a Kenyan tech
estate company that sells company that provides
Fox/Gallo Images/Getty Images; Photo by STR/NurPhoto via Getty Images; Image sourced from constructionreviewonline.com
land using bitcoins. free public Wi-Fi.
Sophia,
the
robot
CONGOLESE DOCTOR Hospital in the eastern Congolese
A ‘ROLE MODEL FOR city of Bukavu. The clinic, which
ALL MEN’ opened in 1999, each year treats
thousands of women, many of
Denis Mukwege, a doctor who
whom require surgery to recover
19-YEAR-OLD MAKES (AI) lab that was involved
helps victims of sexual violence in in developing the world-
from sexual violence. WAVES AT ETHIOPIA'S famous robot, Sophia.
the Democratic Republic of the
Congo, won the 2018 Nobel Peace Mukwege is also a past winner FIRST AI LAB Dessie, a student at the
of the United Nations Human Betelhem Dessie is one of University of Addis Ababa,
Prize last month, together with the youngest pioneers in
Rights Prize and the European is also a project manager
Nadia Murad, a Yazidi activist and Ethiopia's emerging tech at iCog. Reports say Dessie
survivor of sexual slavery. Parliament’s Sakharov Prize.
scene, known as has four software programs
A Reuters report quotes the Playwright and activist Eve
Sheba valley. copyrighted solely to
Norwegian Nobel Committee as Ensler calls Mukwege a role According to reports, she her name, including an
saying: “Denis Mukwege is the model. is coordinating nationwide app developed for the
helper who has devoted his life “This Nobel peace prize programs run by robotics Ethiopian government
to defending these victims. Nadia should be held up as a beacon – lab iCog, the Addis Ababa- to map rivers used for
Murad is the witness who tells of in the darkness of swelling sexism based artificial intelligence irrigation.
the abuses perpetrated against and male supremacy – for all men
herself and others.” to follow,” Ensler writes in
Mukwege heads the Panzi The Guardian. – Compiled by Karen Mwendera
NOVEMBER 2018 FORBES AFRICA | 11AFRICAN
R A NOTEBOOK
OTEBOOK BY MELITTA NGALONKULU
DRC
MINING: Canadian mining corporation Ivanhoe Mines has an-
nounced a major copper discovery in the DRC on its Makoko
site. This is the third such discovery made by Ivanhoe in the
country since it began drilling on its 700sqkm of licences in
the Western Foreland area in July 2017. The Makoko site is
west of its previous Kamoa-Kakula discovery.
UGANDA
POLICY: The country is the first
sub-Saharan African economy to
increase interest rates this year
to counter inflation pressures,
caused by a weakening currency
and rising oil prices. The Monetary
Policy Committee (MPC) in the
east African nation increased the
benchmark rate to 10% from 9%.
Illustration by Katlego Banoe, Pictures: Royalty free / Freepik / Wikipedia / PNG Images / Gemma Coffee
SOUTH AFRICA
MINING: Last month, Minerals Resourc-
es Minister Gwede Mantashe issued the
revised Mining Charter for the sustain-
able transformation and development
of the mining industry. Plans are to raise
black ownership at permit-holding min-
ing companies to 30% from 26% within
five years.
SEYCHELLES
PASSPORT: The Seychelles has
the most powerful passport in
Africa, according to the latest
Henley & Partners Passport
Index. Seychelles’ citizens are
able to access 152 destinations
around the world without a
visa or by applying for one
on arrival. Mauritius ranks 31st
ZIMBABWE amongst the world’s top pass-
MINING: South African platinum ports and is the second-most
and chrome miner Tharisa says it coveted in Africa, with access
will spend $11 million on exploring in to 146 destinations.
Zimbabwe. Tharisa says its produc-
tion hit record highs for the full year
ending September 30 and it expects
to increase output in 2019.
12 | FORBES AFRICA NOVEMBER 2018Advertorial BY PHILIP MORRIS
THE WORK ENVIRONMENT UNPACKED
Creating sustainability and opportunities for employees.
PHILIP MORRIS SOUTH AFRICA GROUP OF development opportunities for employees. companies help enrich the world of work with
COMPANIES RECOGNISED AS A CERTIFIED “As Philip Morris South Africa Group of their outstanding dedication to HR excellence
TOP EMPLOYER 2019 Companies we are proud to be certified as a and because of this, they are recognised as an
Philip Morris South Africa Group of Compa- Top Employer 2019 in South Africa for the employer of choice.”
nies (PMSA) has been awarded the Top Em- third time and are committed to our current
ployer certification for the third consecutive and future employees to continue to focus on PHILIP MORRIS INTERNATIONAL INC.
year in recognition of an excellent working developing and implementing the best HR We are a leading international tobacco com-
environment and exceptional development practices, finding and growing the best talent pany engaged in the manufacture and sale
opportunities. that makes us who we are,” said Daniela Ilie, of cigarettes and other nicotine-containing
Philip Morris International Inc. (PMI) is a head of People and Culture at PMSA. products in markets outside the United States
globally diverse organization with a talented of America. We’re building our future on
and diverse workforce of more than 81,000 em- ABOUT THE CERTIFICATION PROGRAMME smoke-free products that are a much better
ployees who speak more than 80 languages and The Top Employers Institute Programme pro- consumer choice than continuing to smoke
come from all corners of the world. The key to vides certified organisations with the ability to cigarettes. Through multidisciplinary capabil-
our success is our employees. Our priority is to leverage their employer branding, benchmark ities in product development, state-of-the-art
continue to attract, support and keep with us their practices against other top performers facilities and scientific substantiation, we aim
diverse and unique individuals. and globally align their policies. to ensure that our smoke-free products meet
We are a leading international tobacco Organisations certified as Top Employers adult consumer preferences and rigorous
company, a dynamic global business, a center dedicate themselves to providing the very best regulatory requirements. Our vision is that
of leading-edge science and innovative product working environment for employees through these products ultimately replace cigarettes
development, and an award-winning employer. their progressive ‘people-first’ HR practices. to the benefit of adult smokers, society, our
This global Certification Programme has company and our shareholders. For more
WHAT IT MEANS TO BE A TOP EMPLOYER certified and recognised more than 1,500 Top information, see www.pmi.com and www.
We are certified as a Top Employer following Employers in more than 118 countries across pmiscience.com.
a rigorous assessment of our HR practices - five continents.
from the way we recruit to the development Top Employer CEO David Plink says, “We PHILIP MORRIS SOUTH AFRICA
opportunities that we ofer our people. The believe that the 2019 Certified organisations GROUP OF COMPANIES
certification is a testament to the company’s demonstrate exceptional employee conditions Philip Morris South Africa (Pty) Ltd, an
consistency and excellence in ofering an en- and encourage the development of these ailiate of Philip Morris South Africa Group
riching working environment and exceptional practices by putting their people first. These of Companies was established in 2003. Our
cigarette portfolio consists of Marlboro and
Chesterfield, and we distribute our products
domestically as well as to export markets
in the region. We also distribute other
tobacco products such as roll-your-own,
pipe tobacco, and nasal snuf, including the
market-leading pipe tobacco brands Boxer
and Best Blend manufactured by Leonard
Dingler (Pty) Ltd, the other ailiate of Philip
Morris South Africa Group of Companies.
As of 2017 we added to our portfolio, as
From left: Federico Flores; Emma Mphahlele; Mpho Pule; Marcelo Hugo Nico (Managing Director);
Priscilla Msimanga; Rishaad Hajee; Annette van Niekerk; Jay Moon; David Kadalie; Ulreich Tromp; the first PMI market in Africa, our most
Neetesh Ramjee; Granville Robson advanced smoke-free product IQOS.
Looking for a sneak preview #insidePMI? Get the inside story on our social media sites.
www.facebook.com/insidepmi twitter.com/insidepmi www.linkedin.com/company/insidepmiFORBES AFRICA BIG SHOTS 14 | FORBES AFRICA NOVEMBER 2018
THROWING
ROCKS FOR
PEACE
WORDS AND PHOTOGRAPH: MOTLABANA MONNAKGOTLA
A
bout 10 kilometers and hurled rocks at policemen
from Johannesburg’s who they believed supported the
central business gangs.
district is Westbury, Bheki Cele, South Africa’s
a tiny township plagued by police minister, visited Westbury
unemployment, gangsterism and to address the community over the
drug wars. The area has a violent increasing gang-related crimes in
history. the area, saying he was on their
In September, community side and promising to introduce
members took to the streets to policing units to restore order.
protest the scourge of crime here. South Africa’s recently-released
A woman had been shot dead crime statistics reveal 57 people
and a little girl wounded in the are murdered every day. The
crossfire between rival gangs. statistics cover the period from
In this picture, Westbury locals April 2017 to March 2018.
throng the streets after a protest Look out for an in-depth story
that had turned particularly sour. on South Africa’s gun culture in
For three days, main roads were the December issue of FORBES
closed, as residents burned tyres AFRICA. Watch this space.16 | FORBES AFRICA NOVEMBER 2018
&
Key contributors to the growth of the Nigerian economy,
they have redeined banking by leveraging technology
Photos by Kelechi Amadi-Obi
and connecting people to market. From just £100 in his
bank account, Pascal Dozie has built a business empire
his son Uzoma is taking to the future.
BY PEACE HYDEPascal Dozie
I
t’s always a diicult
proposition, handing
over the reins of a
business you have
painstakingly built
ground-up. But for
Pascal
P a Dozie, Nigeria’s self-
made investment and finance
guru, there could not be a
better successor than his eldest
son, Uzoma Dozie, Group
Managing Director and Chief
Executive Oicer of Diamond
Bank. But Uzoma has learned
from the best.
The rise of Pascal Dozie
can outrival any rags-to-riches
Dickensian tale. He gained a
fortune through tenacity, hard
work and wit, on a long and
diicult road from Owerri in
Imo State where he was born
in 1939. His entrepreneurial
journey began against the
backdrop of a Nigeria marred
by the bloody Biafran war
waged between 1967 and 1970
that saw over 30,000 Igbo lives
lost. Pascal, at the time, was
finishing his degree at The
London School of Economics
where he shared a class and
rubbed shoulders with The
Rolling Stones lead singer
Mick Jagger, who dropped out
to form the English rock band.
The war back home meant
he had to find alternative
means of making a living.
Learning to be independent
since the loss of his father
when he was only 15, Pascal’s
major influence was his
mother who owned a bakery.
As a young man, he found
himself on the streets of
Uganda cutting his teeth in the
exchange business until the Idi
Amin coup truncated his work.
“When Amin took over, we
were no longer wanted, so we
18 | FORBES AFRICA NOVEMBER 2018FORBES AFRICA
COVER STORY – PASCAL AND UZOMA DOZIE
had to come back to Nigeria but there was no money to come in a bank, one would have to wait long, sometimes queuing up for
back home with.” almost four hours before a single transaction.
Pascal and his wife were unemployed and as a result, the “And to cash a cheque was also diicult. You could go to the bank
couple planned to relocate to the United States (US) in search of and they will give you a number in the queue. You could then leave the
greener pastures. But they changed their plans in the last minute bank, go to the shop and do so many errands that by the time you come
due to his mother’s ill-health and her wish to be closer to her back, your number would still not have been called. There was that gap
first grandson, Uzoma. in service,” says Pascal.
Pascal had to quickly find another way to make ends meet. With a passion for economic development, he believed that without
He decided to start a consulting firm, the African Development a strong financial sector, the Nigerian economy was not going to
Consulting Group, where he worked for multinationals like develop.
Nestle and Pfizer. “You need a robust financial system to get the economy working, so
“My first objective was survival and of course I had an I said ok, ‘why don’t we try looking at this and provide a solution’. I said
ambition. You set up a company, you want that company to grow; ‘if we could get a bank to mitigate against all the things we are lacking,
you want it to be robust and profitable. then we can create value for businesses
Being in consulting was a tricky afair and also contribute to the economic
because you have a lot of receivables. It development of Nigeria’,” says Pascal, who
was a hustle job. A hustle to get payment was featured on the cover of FORBES
and a hustle to do the job all the time.” AFRICA in October 2012.
Then there was the issue of Meanwhile, Uzoma, the eldest of his
rudimentary communication systems to
B
BEING IN CONSULTING five sons, was contemplating which career
contend with. W
WAS A TRICKY AFFAIR he was going to pursue. The choices boiled
“There were no phones. At one point down to engineering, medicine or law. He
in time, I had to meet someone in Sokoto, B
BECAUSE YOU HAVE A LOT had witnessed the tough early days of his
and I boarded a flight to go there. Lo and
behold, in the queue boarding that plane
O
OF RECEIVABLES. IT WAS father’s entrepreneurial journey.
“I think my parents were hustling
was the man I was going to see, catching A HUSTLE JOB. A HUSTLE when I was born. We were five boys and
a flight to another destination. So he
apologized because there was no way for
TTO GET PAYMENT AND A I remember we lived at 27 Commercial
Avenue, which was also my father’s
him to tell me not to come. So he asked H
HUSTLE TO DO THE JOB oice. It was a three-bedroom flat and I
me if it was possible to wait for two days. remember two of the rooms were oices
We had no choice and we found a hotel A
ALL THE TIME. and one was the bedroom for all of us. My
and waited for the man to come back. If – PASCAL DOZIE dad was a consultant, so he didn’t have a
there was any delay, there was nothing fixed job then and I think my mother had
we could do but keep waiting until he showed up,” says Pascal. a more stable job than him. Because they were hustling, life was very
Slowly but surely, his business began to prosper, but Pascal had practical,” says Uzoma.
even bigger aspirations. During the days of his consulting business, Where his father is assertive and confident, with each word
he conducted a feasibility study of banks and unearthed a hidden measured and delivered as though he was giving a keynote address,
opportunity. But that was the easy part. At the time, Nigerian law Uzoma’s youthful exuberance is infectious. But there are similarities
stipulated that to set up a bank, no one single person could have more too. Pascal is a gentleman in every sense of the word, who loves Mozart
than 5% shareholding in the bank and the firm’s shareholders must be and Bach, while Uzoma also has a calm down-to-earth demeanor.
representative of Nigerians from all over the country. Watching both father and son speak is like looking at two old friends
“Now the problem was how do you find them? That was a major catch up over drinks. Afectionately calling his father ‘PD’, there is
challenge. Once they are found, you are now dealing with so many an air of reverence and respect for the man who has orchestrated
diferent people from diferent backgrounds, which means a lot of the Dozie legacy and built a multi-million dollar empire from a
time; there were a lot of quarrels. We traveled around all of Nigeria to modest consulting firm, today spanning banking, private equity and
find people who will invest in the bank.” telecommunications. Pascal commands his investment and finance
Secondly, Pascal had noticed traders from the remote villages in the empire through the family-owned investment company Kunoch,
east of the country, where he grew up, faced the problem of carrying which pours money into everything, from power generation to gas
huge bundles of cash when they traveled to Lagos on business, making processing, oil exploration, real estate and banking.
them prone to robberies. To make matters worse, there were a number However, for Uzoma, banking was not his first calling. After some
of shortcomings in the banking system. For example, to deposit money initial soul-searching, he opted to be a doctor and that journey led
NOVEMBER 2018 FORBES AFRICA | 19Uzoma Dozie
him to the United Kingdom (UK).
After studying Chemistry at the
University of Reading, he pursued
a masters in Chemical Research
at University College London
(UCL) before completing an MBA
at Imperial College London. A
serendipitous recession in the UK
meant Uzoma was unable to find
a job, and decided to relocate to
Nigeria to enrol into the mandatory
National Youth Service Corps
(NYSC) scheme set up by the
government. It involves Nigerian
graduates in nation-building and
the development of the country.
Pascal, through his contacts,
secured a role for Uzoma at
Guaranty Trust Bank, which was
the start of the latter’s love afair
with banking.
“When I left university in the
UK, I had a lot of credit from banks.
I had a credit card, I had a debit
card, I had a cheque guarantee
card, I was using ATM and when
I came back to Nigeria, it was
like going back into time. None
of those services existed. You had
a chequebook, which may be,
only one of the new generation
banks ofered, and one of the
motivations or aspirations for me
with Diamond Bank was trying
to deliver in the Nigerian market
those services which I was used to
in the UK,” says Uzoma.
Both father and son fervently
believe in the power of technology
to drive eiciency in the financial
sector. The first thing Pascal did
to solve the issue of carrying cash
over long distances was to set up
the Diamond Integrated Banking
System (DIBS). This meant that
you could carry a chequebook
instead of cash and when you
came into the bank, you received
your cash. It may sound pretty
easy and standard now but at the
time in Nigeria’s history, it was
revolutionary.
“Nigeria has come a long way.
20 | FORBES AFRICA V MBE
BE
E 20
0 8FORBES AFRICA
COVER STORY – PASCAL AND UZOMA DOZIE
The area that we have not had much success tree. Uzoma religiously preserves the so that even the guy at the bottom of the
is on our political front. There has been a organizational culture, using new technology pyramid will get premium banking services
lot of progress on the economic side; [but] to democratize the dissemination of financial and we can only do that through technology,”
individually, almost everybody is working in services to Small and Medium Enterprises says Uzoma.
silos. But until we have that political will to get (SMEs). Pascal had always put employees Next, the bank began automating the
the economy to where it ought to be, we are in the saddle, empowering them to take customer transaction experience by enabling
just paying lip service.” decisions. That philosophy has worked customers to do self-service. Robots were
He sold the consulting business to raise the well for the organization. Furthermore, introduced to reduce the workload and allow
capital to start Diamond Bank. Soon, another his decision to realign the structure of the humans to concentrate on the things they are
opportunity presented itself to Pascal, this organization and create accessibility for good at such as creativity and innovation.
time in the telecoms industry. A South African tech-savvy millennials has helped the bank “We have eight million people who use
company was looking to set up shop in Africa’s maintain its position as one of the leading their mobile phones to do banking and we
largest economy and Pascal saw in this an have a partnership with MTN. I see Diamond
opportunity too good to pass up. Bank as a platform to help people connect to
“So many companies were interested market. When you talk to people we helped
in the MTN project. The Nigerians didn’t open a bank account into the market place, the
know much about what it was about. All first thing they will tell you is that ‘I can now
they knew was that there was this new way save to take my children to school, I can now
of communicating, which was by mobile save to improve my business’. Diamond Bank
telephones, and nobody knew what that ONE OF THE is a platform for transformation by connecting
was all about. It was one of the first few
transparent projects the government ever
MOTIVATIONS OR people and their market,” says Uzoma.
The way the company has managed to
conducted. The government practically vetted ASPIRATIONS FOR achieve this is by leveraging technology and
all the shareholders of the company,” says redefining the business model, which goes
Pascal. ME WITH DIAMOND beyond banking and coming up with a sharing
The South Africans wanted to pump BANK WAS TRYING and collaborating approach as well.
millions into a 60% stake in MTN Nigeria, “If I want to lend to a customer, I need to
with Nigerians owning 40%. Pascal managed TO DELIVER IN THE know much more than his financial record, I
to raise a 20% stake in the new company. But
before the deal could close, he says his name
NIGERIAN MARKET need to know about his non-financial records
so it gives me a better understanding. We use
was published in the newspapers for unethical THOSE SERVICES other platforms to connect and engage with
trading. our audience like Diamond TV and we also
“The MTN people came to me to say ‘we
WHICH I WAS USED get feedback from what our people want and
do not want anything to do with you again’. TO IN THE UK. what the trends are,” adds Uzoma.
Some mischievous people accused me of Under his leadership, the bank has become
playing both sides and the main fact that I was
– UZOMA DOZIE one of the most-successful middle-market
double dipping would have cost us the project. banks. According to Uzoma, this was as a
So they wrote a letter to me and I didn’t reply. result of understanding customer cash flows
So they didn’t want to see me, I was more or financial services institutions in the country. which made it easier to lend to them.
less like an outcast. So I was not even there the Uzoma has had varied roles within the “I don’t know when was the last time I
last day of the bidding,” says Pascal. organization, starting as an assistant manager went into a banking hall to do a transaction.
“It was later on that the chairman of MTN and head of the bank’s oil and gas group, Young people have a good opportunity in
was going back to South Africa and he met where he expanded the oil and gas businesses. the tech sector. I would like to see Nigerians
that company I was supposed to be involved One of the things Uzoma also pioneered was developing software and looking at it from
in and they asked about me and the man said leveraging the power of mobile apps to make our own perspective and being original. One
he didn’t know who I was. Then they realized transactions easier for customers. “We used of the things I found in our financial system
that somebody was trying to be mischievous mobile apps to stop people from coming to is the banking system is not technologically
and they came back to me and apologized,” the branches and put everything you wanted advanced like some of the banks we have in
says Pascal, and the rest as they say is history. to do in the bank, apart from withdrawing Europe,” says Pascal.
Today, the company is one of the most cash at the bank, on the mobile app. Now, it’s “We can use technology to solve a lot of
successful in Nigeria and Pascal maintains his a platform where it’s beyond banking and one problems in agriculture and a lot of problems
position as chairman. of the new things we are doing is to provide a in banking. Even deploying technology in a
The apple did not fall far from the relationship oicer and democratize banking social and economic area. For example, our
NOVEMBER 2018 FORBES AFRICA | 21FORBES AFRICA
COVER STORY – PASCAL AND UZOMA DOZIE
population, VAT registration, national
identity and so many applications. People
are working in various silos, why can’t we
get all these systems to be coordinated?
If you go to Dubai and you enter a taxi
and you lose something, you can retrieve
it. Once you enter a taxi, it is entered
in a central location and everything is
harmonized.”
They are a team that work well
together. Uzoma is a tech visionary who
believes in the power of technology to
provide opportunities to leapfrog as a
people, and he is relentless in pursuing
that goal.
For Nigeria to harness that power,
however, there has to be efective
leadership to create impact and
transformation. According to Uzoma: “We
have everything we require in Nigeria
to really leverage technology, but we
haven’t been able to do that. We need the
leadership to put the policy, regulation
and legislation in place to help us achieve
this. One of the things I am passionate
about is educating investors to invest in
Nigerian businesses. People are going
outside to get investors from venture
capital from the US and in 10 years’
time, we are going to find that we have
a few Nigerian companies that are very
I WOULD LIKE TO successful globally but they will be owned
by foreign companies because Nigerian
These days, that has been Pascal’s real
focus. He believes in order for Nigeria to
SEE NIGERIANS investors who had the capacity did not efectively compete globally, there has
D
DEVELOPING understand what they are letting go,” says
Uzoma.
to be a focus on succession-planning.
At 79, he is full of life and bursting with
SOFTWARE AND Pascal echoes his sentiments. “You will ideas. His goal is to create an awareness
not find any company owned by Nigerians of building generational wealth through
LOOKING AT IT being managed by the third generation family oices. This dynamic father-son
FROM OUR OWN or fourth generation as such but you duo is here to stay and set a sterling
will find that among Indians in Nigeria, example for African business.
P
PERSPECTIVE AND and the Lebanese in Nigeria. But ours From modest beginnings – just £100
B
BEING ORIGINAL. [Nigerians] have been short-term because
the first generation sets up the business,
in his bank account in Lagos when he
started – Pascal has built an empire his
– PASCAL DOZIE then the next generation tries to develop son is determined to take to Africa’s
it and the third generation squanders it.” glorious future.
22 | FORBES AFRICA NOVEMBER 2018As a federal enterprise, GIZ supports the German Government in achieving its objectives in the field of international cooperation for sustainable development.
For our operations in Addis Abeba/Ethiopia, we are looking for an
COORDINATOR FOR THE PROGRAMME FOR INFRA-
STRUCTURE DEVELOPMENT IN AFRICA (PIDA)
Job description:
Only 38% of the African population has access to electricity, less than 10% is connected to the internet and only 25% of Africa’s road network is paved. To
address these deficits, the African Heads of State and Government adopted the Programme for Infrastructure Development in Africa (PIDA) in January 2012
as the strategic infrastructure framework on the continent. PIDA improves energy supply, regional transport corridors, internet connectivity as well as trans-
boundary water management and thus is a key driver for socio-economic development and intra-African trade. On the continental level, the Commission of
the African Union (AUC) is responsible for the political steering of PIDA whilst the NEPAD Agency facilitates the technical implementation. The first Priority
Action Plan (PIDA-PAP 1: 2012-2020) comprises more than 400 infrastructure projects, out of which more than a third are already operational or under
construction. AUC and its partners are currently starting the process to develop the PIDA-PAP 2 (2020-2030) which defines the infrastructure priorities of the
next decade to pave the way for an integrated, industrialized and service-oriented Africa. In its new phase, the GIZ “Support-to-PIDA”-Program supports the
AUC and the NEPAD Agency with the promotion of regional infrastructure development by designing an integrated, employment-oriented and gender-sensitive
corridor approach as the conceptual basis for future infrastructure development; by supporting a consultative and systematic process to define African
infrastructure priorities in the PIDA-PAP 2; by attracting private sector resources for African infrastructure development; and by improving the quality of
(early-stage) project preparation. GIZ is now searching for a senior expert to support AUC with the political and strategic steering of these processes as the
so-called PIDA Coordinator. More information on PIDA can be found on www.au-pida.org.
Your tasks:
The PIDA Coordinator, seconded to the Department for Infrastructure and Energy at AUC (AUC-DIE), will be responsible for the overall coordination of the
PIDA-process with a focus on the following tasks
Coordinate on PIDA/infrastructure matters with key stakeholders (esp. within AUC, with the NEPAD Agency, the Regional Economic Communities, the
AU Member States, the African Development Bank and other PIDA financiers, the civil society, the private sector)
Facilitate the high-level political process of the development of the PIDA-PAP 2 to agree upon Africa`s infrastructure priorities of the next decade
Advise AUC-DIE on improved development of regional infrastructure on the continent and conduct respective actions to implement recommendations
Coordinate PIDA communication activities to increase visibility and awareness on infrastructure/PIDA matters and projects
Facilitate Member States and partner coordination around PIDA and regional infrastructure matters
Prepare and manage related PIDA consultancies, e.g. on the development of the integrated corridor approach
Support AUC-DIE Director with PIDA project management related activities, e.g. management of PIDA Unit at AUC-DIE, budget formulation, impact
monitoring and reporting
Follow-up and report on implementation of joint AUC-NEPAD-GIZ objectives with respect to PIDA
Your profile:
At least a Masters’ degree in political science, economics, engineering or another relevant academic field
Longstanding work experience in infrastructure development in Africa
Work experience in financing infrastructure projects
Proven track record of the coordination and facilitation of high-level political processes on the African continent
Many years of work experience in international organizations; work experience within AU institutions as a clear advantage
Excellent written and verbal communications skills
Excellent mastery of English and French
Strong computer skills (Microsoft Office, internet research, social media, other digital tools)
Profound communication skills; political sensitivity, experience and diplomatic skills when interacting with political decision-makers
Intercultural competence and sensitivity, conceptual and process-oriented thinking
Proven organizational, coordination and leadership competency
If we caught your interest, we are looking forward to your application until 11/11/2018.
For further information: www.giz.de/jobs. You can find this job under the Job-ID P1281V071.FORBES AFRICA
FOCUS – SOUTH AFRICA
COULD HE BE THE
TURNING POINT?
Tito Mboweni inherits Africa’s sick economy as president
Cyril Ramaphosa chases growth.
Tito Mboweni
BY GODFREY MUTIZWA
I
f the performance of South Africa’s Mandela’s government where he Roodt, an economist at Eicient Group in
currency in the week since Tito developed the first post-apartheid labor Johannesburg.
Mboweni was picked as finance law. At the South African Reserve Bank, “The fiscal numbers are unsustainable and
minister is any good, Africa’s only where he was the country’s first black the debt numbers in particular are terrible.
economy in oicial recession might be on to a governor, Mboweni spent a decade, and From a numbers point of view, I am afraid this
good thing. built a reputation as a conservative banker is a downgrade.’’
The rand, Africa’s most freely-traded and defender of the country’s newly- The new minister has a full problem tray
currency, gained more than 5% against the adopted inflation-targeting regime. as he comes in: unemployment is sitting at
dollar in the week since the former central His major achievement was building 27.2% as companies grapple with soaring costs
bank governor replaced Nhlanhla Nene the country’s foreign exchange reserves inflated by a weak rand, falling government
who quit after lying about his dealings with from less than $10 billion to $40 billion revenues in a country where 17 million people
a business family, the Guptas, accused of when he left in 2009 after two terms depend on government grants, and weak
bribing government oicials including former deemed by most as successful. business confidence.
President Jacob Zuma. “The economy is now in a safe pair of But his appointment may provide the
The former labor minister brings a hands. It is someone senior both in the turning point the country desperately
no-nonsense approach analysts say will ANC and in the government as he served requires, according to Van Staden.
be needed to take Africa’s second-largest as a minister of labor previously. What is “The former Reserve Bank governor can
economy out of a largely self-inflicted also important is we have ratings agencies be a diicult personality, but his skillset and
second recession in less than a decade amid watching us and this will bode well for them,’’ deep understanding of financial markets are
graft allegations. He will need to rein in says independent economist Mike Schussler. likely to see him embrace a market-orientated
government spending, six months before Mboweni takes charge of an economy policy framework with a no-nonsense attitude
elections that may drop the ruling African that was in recession in the first six months and dedication to economic growth and social
National Congress’ (ANC) support below of the year, hobbled by nine years of poor development. We expect the appointment to
half for the first time since the dawn of management under Zuma which left business have a positive impact on the credibility of the
democracy in 1994. confidence shattered. With the economy Ramaphosa administration.’’
“Fiercely independent and often regarded barely growing during the period, the country It is credibility Ramaphosa has been
Photo by Sunday Times via Getty Images
as a bit of a maverick, Mr Mboweni is lost its investment grade rating from Standard building and one he will need quickly,
nevertheless likely to emerge as one of Mr & Poor’s (S&P) and Fitch Ratings. according to Ravi Bhatia, a director at S&P
Ramaphosa’s more inspired decisions,’’ says Only Moody’s maintained its rating above which rates the country’s debt junk with
Gary van Staden, analyst at Cape Town-based junk and the company deferred a decision a stable outlook. Its next rating decision is
NKC Research. after Mboweni’s appointment, fanning hopes scheduled to be announced on November 23.
“He is certainly among the more highly- it will give him time to mend the country’s “He will have to get up to speed quite
regarded choices the president could have finances and present a credible growth plan. quickly,’’ Bhatia said pointing to the country’s
made and we expect him to add momentum But economists say it might be too late for Medium Term Budget Policy statement
to the decisions of the job summit and a country that needs to cut spending while released in October. “He will have to push
economic stimulus package.’’ chasing economic growth. through measures that will deliver growth.
Mboweni served four years as labor “I am afraid we have overplayed We want to see growth being delivered and
minister in former President Nelson our hand on the numbers,’’ says Dawie the fiscal line being controlled.’’
24 | FORBES AFRICA NOVEMBER 2018THE SUB CITY:
WHAT LIES BENEATH
What secrets does a city hold within its bosom?
In Johannesburg, one of them is an intriguing
labyrinth of tunnels that once served as a postal
delivery system. Could such relics of the past be
the subterranean realms of the future? Urban plan-
ning points to what is now called ‘hypogeal cities’.
BY ANCILLAR MANGENAFORBES AFRICA
FOCUS – URBAN PLANNING
A passage leading to the ‘Post
Oice tunnel’ built in 1935
NOVEMBER 2018 FORBES AFRICA | 27FORBES AFRICA
FOCUS – URBAN PLANNING
J
ohannesburg’s central business district (CBD) holds a
secret within its deep, dark belly.
On the surface are the citadels of power housing some
of Africa’s oldest and biggest corporate institutions.
Beneath this morass of steel and concrete, is a labyrinth of
tunnels few know of.
We search for them, walking miles in the sun, scouring the
grimy innards and alleys of a business district that was once seen
and filmed by Hollywood producers as a Manhattan ‘lookalike’.
These streets have been witness to searing political upheaval
and mass unrest, and bear the scars of a brutal apartheid past.
But every city needs daily witnesses in its account of the here
and now, and you find them on the streets – the shopkeepers,
traders, commuters and the security guards who watch the CBD
change color and character from morning to night.
And sometimes, the best leads come from these purveyors of
change, the ordinary people who witness the city up close every
day.
And luckily, we find ours – the security guard who will
indirectly lead us to the tunnels.
“Yes, I have been inside these underground tunnels,” he says,
reluctant to reveal his name or tell us more. He relents, however,
and gives us a number we can call, that of the site manager of what
he calls “the Post Oice tunnels”.
With his help, on a sultry October morning, we arrive at the
Old Johannesburg Post Oice on Jeppe Street, a street lined with
shops and informal traders selling everything from cell phones to
socks. pitching the property to prospective clients? Did she know about
Business here has a life and rhythm of its own, oblivious to the tunnels?
what lies beneath. “I can’t believe there are tunnels here. I have never even heard
“I have been living and working here for 30 years and I have of them but I think people would appreciate this place more if
never heard of what you are talking about,” shrugs Givemore they did,” she tells us, not wanting to be named.
Sithole, a worker in the area, when we ask if he knows about the Even the construction laborers working on the post oice site
tunnels. are unaware.
But history and fact co-exist. Visser takes us to the tunnels. We find the entrance, with the
According to an 80-year-old report simply known as “the help of his colleagues, and it’s wide enough to fit a small car.
heritage report”, the tunnels were built in October 1935, at the It has a large red metal door, with access temporarily blocked
height of apartheid, for the efective delivery of mail between the by bulky construction material.
Post Oice and Park Station, about 2km apart. The workers manage to clear the entry and open the door.
The tunnels also connect to Gandhi Square at its other end, and Inside the tunnel, it’s like a big black hole – it’s pitch-black but
in total, are 3kms-long. holding within its bowels an old secret.
“This tunnel was built at a time when more and more people “Beware of rodents and snakes in there,” warns Visser, as we
were coming to Johannesburg to look for work in the City gingerly step in.
of Gold. There was a lot of congestion on the roads and they Through this tunnel, according to the heritage report, estimates
created this big ‘machine’, which I hear even connects to Gandhi are that 900 bags of mail were conveyed on wheelbarrows and
Square, which is about another 1.2 kilometers away,” says Johan sifted per hour at each end. They also had rudimentary versions of
Visser, a site manager at the Africa Housing Company, which is the conveyor belts of today.
redeveloping the Old Johannesburg Post Oice. The tunnels were shut down in 1956 for reasons not known,
Before we meet him, we run into a real estate agent, who is abandoned and forgotten, until about two years ago when they
currently leasing space at the site of the old post oice. We ask were rediscovered by Ray Harli, an architect and Director at
if she knows about the history of the building – how was she UrbanSoup Architects and Urban Designers.
28 | FORBES AFRICA NOVEMBER 2018You can also read
