The streaming giant has been unable to disrupt the video game market, but armed with massive resources and time, its new push to level up could leave its competitors in the dust.



“Netflix has won the streaming wars. Case closed,” analyst Robert Fishman wrote in a MoffettNathanson report published Monday on the streamer’s recent earnings update. “But where does the company go from here? How much more runway for growth is ahead?”



Since November 2021, Netflix, which recently passed 300 million subscribers globally, has been trying to convince users, investors and developers alike that one of the answers to that question can be video games.



And it’s put real money behind that conviction. By fall 2023, according to widely cited reports, Netflix had spent $1 billion on gaming, buying up four smaller development studios and building two of its own in California and Helsinki, Finland, and publishing dozens of titles for mobile devices, including tower defense game&nbsp;Bloons TD&nbsp;and graphic adventure&nbsp;Oxenfree.



Analysts believe the company likely spent another $1 billion on gaming in 2024 alone, increasing its offering to 140 games made available to anyone with a Netflix subscription, all without ads or in-app microtransactions.



Traction in the gaming marketplace has been harder to come by. Netflix’s portfolio of mobile apps have recorded 192 million total downloads, according to data provider Apptopia, and daily active user counts hover around 1.1 million, each fractional compared to mobile publisher competitors and even smaller in relation to Netflix’s overall subscriber base.



“We’re not yet the Netflix of games,” said Netflix president of games Alain Tascan on Wednesday, presenting at the Game Developers Conference in San Francisco. “But that’s exactly where we’re headed.”



Tascan is a newcomer to the streaming giant, having joined the company last July and replacing its original games chief Mike Verdu a few months later. Under his leadership, Netflix is rethinking its gaming strategy, moving out of direct competition with large game developers and into a more supplemental role for its primary streaming offering.



Moving forward, Netflix Games will focus on the development of more games that can be played inside the Netflix app on connected smart TVs, where 70% of Netflix viewership already happens, utilizing phones as the controller via a mobile app. The company also wants to create casual party games that can “replace family game night,” and make more offerings for younger children, which Tascan says make up 15% of Netflix’s linear entertainment viewing hours. And it wants to build more “interactive experiences” that can extend the life of Netflix’s IP from popular homegrown shows and movies, as it has done with&nbsp;Squid Game&nbsp;and&nbsp;Too Hot To Handle.



That’s a far different strategy than the traditional idea of the “Netflix for games,” in which startups like Blacknut and Shadow, as well as tech giants such as Google (Stadia) and Apple (Arcade) and Microsoft (Xbox Game Pass), have built a cloud-based library of games that can be sold for a subscription. Google shut down Stadia in 2023, citing a lack of user interest. Apple and Microsoft have succeeded (on mobile and console, respectively), though primarily as a marketplace for third-party content rather than a home for original creations.



Netflix’s pivot also seems to remove it from the race to create the next blockbuster game like&nbsp;Fortnite&nbsp;or&nbsp;Call of Duty: Warzone, evidenced first in October by dozens of layoffs and the shuttering of its California studio, which was focused on bigger budget AAA game projects, before it had published a single title.



&#8220;[Netflix] shouldn&#8217;t be trying to be something they&#8217;re not,” says Jason Chapman, cofounder and managing partner of gaming venture fund Konvoy Ventures. ”They&#8217;re not a AAA content production house, but they should continue to lean into interactive.&#8221;



This evolution from linear, passive entertainment on Netflix to more interactive experiences makes a lot of sense, in theory. The $180 billion gaming industry now dwarfs the size of traditional Hollywood movies and television (estimated at $100 billion annually), and has become the preferred pastime for younger generations. As far back as 2019, Netflix co-CEO Ted Serandos cited&nbsp;Fortnite&nbsp;as its major competitor for user attention—no doubt one of the reasons the company hired Tascan, who worked previously as an executive at Epic Games on&nbsp;Fortnite.



However, Netflix’s early efforts at line-blurring interactive content—such as the headline-grabbing&nbsp;Black Mirror: Bandersnatch&nbsp;—did not catch on and in November the company announced it would be removing dozens of similar titles from its library entirely. (Bandersnatch&nbsp;is one of only four that remain.)



To date, Netflix has yet to create a game, or any game-like experience, that has captured and maintained the interest of the broader public over an extended time. Even&nbsp;Squid Game: Unleashed, which the company touts as one of its biggest success stories, hit six million downloads when it debuted in December, peaked at nearly 13 million downloads in January and then fell to 700,000 in February and just over 100,000 in March, according to Apptopia data. That game, notably, is the first not to require its players to have a Netflix subscription to play.



Netflix’s answer, in the short term, has been licensing. In December 2023, the company announced it would be offering three old&nbsp;Grand Theft Auto&nbsp;titles to anyone with a Netflix subscription, and to date,&nbsp;GTA: San Andreas&nbsp;has been its most downloaded and played game by far.



Internally, Netflix says it has its own set of criteria for games success, such as subscription acquisition and retention, and the ability to drive engagement back to its linear programming. With&nbsp;Squid Game: Unleashed, the developers experimented with a “watch along” feature that unlocked certain rewards for players who had viewed Seasons One and Two of the show.



&#8220;Those effects are relatively small currently, but frankly so was our investment in games relative to our overall content budget,” said Netflix co-CEO Greg Peters during the company’s earnings call in January. “And we&#8217;re going to stay disciplined about scaling that budget as we see continued scaling in member benefits.&#8221;



What Netflix Games has in its favor is the time and resources to experiment. The company grew its overall revenue by 16% in 2024, generating $10 billion in operating income and nearly $7 billion in free cash flow.



In MoffettNathanson’s recent analysis, it projected continued revenue growth, stronger margins and a higher stock price all without mentioning the gaming division once in the 26-page report.



&#8220;Do I think games are a core focus for them? Absolutely not,” says Chapman. “But this isn&#8217;t a throw away or a Hail Mary pass for them. They&#8217;ve put too much money into this.”



In the not-too-distant future, Chapman predicts Netflix will begin to implement monetization strategies such as in-app purchases and ads—drawing on lessons learned and infrastructure created by the company’s push into linear advertising in 2024—that would bring the viability of the games division into sharper focus. Until then, he says the company can afford to continue searching for its place in the market.



Tascan acknowledges that is a privileged position to be in amidst a games landscape that faced industry-wide layoffs, budget cuts and company closures in 2024. “I say sometimes to the team, ‘We have a golden ticket,’” he said. “What are we going to do with it?”

MainMenu_4K_30.12.2024_10-48-11

Can Netflix Become The Netflix Of Gaming?

Towards the end of 2024, the discovery of trafficked minors at the Stilfontein mines in South Africa’s North West province spoke to a severe trafficking crisis. As it emerged, undocumented children, some as young as 10, were reportedly coerced into forced labor under alleged armed criminal syndicates.



Trafficked from neighboring Southern African Development Community (SADC) countries, these children had endured extensive abuse and exploitation. This harrowing discovery revealed systemic failures in combating trafficking. Throughout the annals of history, human trafficking has emerged as a deeply disturbing scourge of humanity. United States Senator Josh Hawley argues: “The swelling epidemic of human trafficking makes a mockery of the law and its protections.”



Endeavors to deal with human trafficking, viewed from both international and legal perspectives, have required a multifaceted approach. By its very definition, human trafficking is not confined to borders, although statistics indicate that Africa is disproportionately impacted. It involves the illegal trade of human beings for exploitation. Such exploitation includes forced labor, sexual exploitation, organ removal, forced marriage and involuntary servitude.



The global estimates paint a crude picture of the plight of many. According to the International Labour Organization (ILO), an estimated 24.9 million people worldwide were victims of human trafficking. Sex trafficking, disproportionately impacts women and girls, comprising 99% of its victims. Disturbingly, Africa has one of the highest proportions of human trafficking victims globally. High levels of poverty, pockets of conflict, and weak governance structures have exacerbated the situation on the continent.



Cognizant of the magnitude of this crisis, the international community has responded with key international treaties and protocols aimed at combating human trafficking, including:



<ul class="wp-block-list">
<li>The United Nations Convention against Transnational Organized Crime (2000) and its Protocol to Prevent, Suppress and Punish Trafficking in Persons, Especially Women and Children (known as the Palermo Protocol).</li>



<li>The United Nations Convention on the Rights of the Child (1989), emphasizes the protection of children from exploitation, including trafficking.</li>



<li>The Council of Europe Convention on Action against Trafficking in Human Beings (2005), provides a comprehensive legal framework for protection and prevention.</li>
</ul>



These frameworks provide critical guidance for countries to prevent trafficking, protect victims, and prosecute perpetrators. Yet, there are some apparent gaps in terms of a collective approach. Legal definitions of human trafficking differ from one jurisdiction to another. General elements of the definition include act (recruitment, transportation, transfer), means (coercion, fraud, deception), and purpose (exploitation). However, there is a need for clear definitions. Such definitions are necessary for effective law enforcement and victim protection. Moreover, countries have enacted various laws to combat human trafficking. These laws are often influenced by international agreements. National legal frameworks generally include criminalizing all forms of trafficking, establishing comprehensive victim protection measures and requiring cooperation among law enforcement, social services, and the judicial system.



It also must be noted that efforts to combat human trafficking face significant challenges. Enforcing anti-trafficking laws and prosecuting traffickers is complicated by the cross-border nature of trafficking, resource constraints, and corruption within law enforcement. To improve prosecution rates and victim outcomes, training for law enforcement and judicial personnel is crucial. In Africa, there is an argument to be made for a more synchronized approach. Already, initiatives led by the African Union (AU), such as the Ouagadougou Action Plan, promote coordination among states. There is a focus on sharing intelligence and harmonizing anti-trafficking laws. This is supported by the African Court of Justice and Human Rights, a continental court established by African states to protect human and peoples’ rights across the continent. However, there is scope to increase regional cooperation while addressing the root causes of trafficking on the continent through integrated social and economic development strategies. Furthermore, enforcement should be equipped to identify cases, handle victims sensitively and build strong cases against traffickers. Victims also require comprehensive support services, including safe housing, medical care and access to legal assistance to safely navigate the legal process and reintegrate into society. It is clear that there needs to be systematic reframing of our approach.



The Stilfontein incident is a stark reminder of how many lives we have let slip through the cracks. However, it is also a powerful call for change.&nbsp;&nbsp;&nbsp;&nbsp;

African Migrants Ensnared By Human Traffickers En Route To Europe

Expert-Speak: The Disturbing Scourge Of Human Trafficking And How To Protect The Vulnerable In Africa

Watched by as many as one billion people worldwide, the 1974 bout saw George Foreman undefeated in 40 fights—then the reigning heavyweight champion—overwhelming Muhammad Ali in the early rounds with his raw power.



George Foreman, the two-time heavyweight boxing champion who contended with Muhammad Ali in Africa’s first-ever heavyweight title fight, the Rumble in the Jungle, has died at the age of 76.



“With profound sorrow, we announce the passing of our beloved George Edward Foreman Sr., who peacefully departed on March 21, 2025, surrounded by loved ones,&#8221; Foreman&#8217;s family shared on Friday on his official Instagram page, requesting privacy as they mourn his loss.



The Rumble in the Jungle fight in Kinshasa, Zaire (now the Democratic Republic of the Congo), remains one of the most iconic sporting events in history. Ali, employing his now-famous rope-a-dope strategy, absorbed Foreman’s punches before launching a counterattack that led to an eighth-round knockout, cementing his own legacy.


<div class="wp-block-image">
<figure class="aligncenter size-full"><img loading="lazy" decoding="async" width="1024" height="612" src="https://cms.forbesafrica.com/wp-content/uploads/2025/03/GettyImages-117969243.jpg" alt="" class="wp-image-64972" srcset="https://cms.forbesafrica.com/wp-content/uploads/2025/03/GettyImages-117969243.jpg 1024w, https://cms.forbesafrica.com/wp-content/uploads/2025/03/GettyImages-117969243-300x179.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2025/03/GettyImages-117969243-768x459.jpg 768w" sizes="auto, (max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">George Foreman poses at Imtech Arena on July 2, 2011 in Hamburg, Germany. (Photo by Martin Rose/Bongarts/Getty Images)</figcaption></figure></div>


Born in 1949 in Houston, Texas, Foreman found direction through the Job Corps program, where he discovered boxing. His talent quickly emerged, and at just 19, he won a gold medal in the super-heavyweight division at the 1968 Mexico City Olympics, waving an American flag in the ring at a time of deep racial and political tensions in the U.S.



Foreman’s professional career skyrocketed when he annihilated Joe Frazier in just two rounds to win the heavyweight title in 1973. His combination of size, strength, and relentless aggression made him one of the most feared fighters of his era.



After his loss to Ali, Foreman continued to fight before retiring in 1977. He made a stunning comeback a decade later and, in 1994, at age 45, became the oldest heavyweight champion in history by knocking out Michael Moorer. Outside the ring, he became a global business icon, earning a fortune through the George Foreman Grill, which sold over 100 million units worldwide.



Holyfield once said whereas he is happy for Foreman, he will still remain Evander Holyfield and does not wish to trade places with Big George. Holyfield beat Foreman on points in April 1999 when he defended his three titles.



Reflecting on the 50th anniversary of Rumble in the Jungle, Foreman told The Telegraph, “It amazes me that it was 50 years ago and people are still talking about it, and the term rope-a-dope. I’m just happy that I can remember it, period. I have nothing but fond memories, but at the time, I was devastated at the defeat.’’



The fight was immortalized through the lens of filmmaker Leon Gast, whose Academy Award-winning documentary, When We Were Kings, brought new depth to its narrative. The documentary, featuring insights from cultural icons like Spike Lee and Norman Mailer, framed the match as a cultural and psychological duel, an enduring metaphor for triumph against the odds.

George Foreman in Fight Pose at Nassau Coliseum

Africa’s First-Ever Heavyweight Title Contender Dies At 76

As artificial intelligence reshapes healthcare, the fight against cancer is witnessing unprecedented breakthroughs, from microscopic nanorobots to virtual treatment twins. This acceleration in drug discovery is just one example of AI&#8217;s impact on oncology, now and in the future.



According to the British Journal of Cancer, cancer research is one of the most heavily-funded areas of science. Billions are poured into research every year but the main ways in which we treat cancer – surgery, chemotherapy and radiotherapy – haven&#8217;t changed in the past 80 years.



But now artificial intelligence (AI) is transforming this landscape entirely, revolutionizing not just how doctors diagnose and treat cancer, but how we discover new treatments. “I think we are really in the golden age of scientific discovery, powered by the cloud and AI at scale,” says Dr Rowland Illing, Amazon Web Services’ Chief Medical Officer and Director of Global Healthcare and Nonprofits. At its core, cancer presents a fundamental challenge: cells that go rogue, growing and dividing uncontrollably without the normal genetic &#8216;braking system&#8217; that regulates cell growth.



“But finding a way to put the brakes on is where it gets interesting,” says Dr Divya Chander, a physician, neuroscientist and futurist. For Chander, there are three key areas where AI is making significant inroads: drug discovery, designing new therapeutics (like living medicines) and precision clinical trials and precision medicine.



From data to diagnosis



Traditional drug discovery is expensive and time-consuming but AI models can accelerate the process by identifying shared genomic features across diseases to predict effectiveness. “It&#8217;s incredibly helpful because with older medications, we already know they&#8217;re safe,” says Chander. “When we find drugs that are useful for another indication, it’s really an extraordinary gift.” This is particularly important for rare and undiagnosed diseases, including certain cancers, that affect over 300 million people globally (but only 5%-7% have FDA-approved treatments).



A new open-source AI model called TxGNN, developed by Harvard Medical School researchers, aims to close this gap by identifying drug candidates for over 17,000 diseases, including rare cancers, using existing medicines. Then there’s Insilico Medicine, a Hong Kong-based biotechnology startup, who now has one of the first AI-discovered drugs to enter the clinical pipeline. The company’s own Pharma.AI platform, which includes tools like PandaOmics and Chemistry42, uses multiple AI models trained on millions of data samples to identify disease targets and design new drug compounds. What’s really exciting about this is the speed. Insilico reached the first phase of clinical trials in just two and a half years, compared to the traditional six-year timeline, and at a fraction of the usual $400 million cost. “It can cost over a billion dollars per drug and take over a decade and a lot of lives are lost in that time,” adds Chander.



This acceleration in drug discovery is just one example of AI&#8217;s impact on oncology. Working with Genomics England, Illing and his team faced an immense challenge: analysing thousands of scientific papers about genetic links to diseases. “They have a team of bio curators – experts who do searches, pull out papers, read them and work out the associations between disease types and genes,” explains Illing. But with so much key data on cancer and genetics being published, Genomics England’s manual review process couldn’t keep up with the sheer volume of research. Illing’s team worked on an AI solution – automated bio-curation – which transformed this landscape completely. “Over an eight to 10-week period, we built a generative AI platform that was able to look at all of those papers published and identify 20 new gene associations which previously were not known,” Illing says, adding that if they had manually looked at all the data, it would be out of date. “The role of AI is very much automation. It&#8217;s how do you take stuff which needs to be done at scale globally, make it faster and take off the burden of the care providers?”



The digital patient



This revolutionary approach isn&#8217;t simply fast-tracking research, it&#8217;s shifting how quickly scientific discoveries can become life-saving treatments. Among these innovations, AI is being utilized to create increasingly sophisticated simulations of disease progression in virtual environments called digital twins. In fact, Research and Markets have projected that the digital twin industry will reach $130.77 billion by 2029, driven by demand in healthcare and pharmacology. In a new research paper published in Nature Medicine on digital twins, Dr Eric Stahlberg, a Leidos scientist, explained that “if you look at the aerospace industry, they&#8217;re using digital twins extensively to simulate fluid dynamics and materials processing to improve engine and aircraft designs. There are many similarities between those models and newer models that simulate the human cardiovascular and circulatory systems,” he continues. “The complexity of the human body is so substantial that there will always be uncertainty in the models. But ultimately, digital twins will inform patients, help them rank various treatment options and increase their chances of survival.&#8221;



UK Biobank, a global biomedical database and research hub, currently has a project underway that’s using AI to create detailed digital twins that mirror how cancer develops and responds to treatment for individual patients. “Digital twins enable precision care in a way that could never be done before,” says Chander. These computer models are groundbreaking because they combine multi-modal data from genetic patterns and protein behavior to chemical changes in the body and patients&#8217; full medical histories. “Most of the models that are coming out to date, like ChatGPT or Claude, have been language models, but we&#8217;re seeing a shift into large data models,” explains Illing. “Healthcare isn&#8217;t just language – it&#8217;s also genomics, proteins and imaging. By integrating all of those different data streams you get a much better idea, upfront, about what kind of treatment a patient can have.” By analyzing this rich mixture of biological and clinical information, UK Biobank’s AI system can spot subtle warning signs that traditional methods might overlook. First tackling pancreatic cancer, where the complex mixture of different cells in tumors makes early detection difficult, the team is hoping to look at lung, breast, colon, prostate, skin and bladder cancers in the future.



These AI breakthroughs are reshaping how doctors approach cancer treatment, turning an uncontrollable disease into one they can analyze, track and target with unprecedented precision. It’s a new era in medicine where cutting-edge technology can customize care. “The promise of personalized medicine is that when you come in with your specific problem, you will be treated as an individual, rather than just one of a &#8216;this sex, this age, in this environment&#8217;,” ends Illing. “AI is already having a massive impact on this kind of tailored understanding of what patients have got but also how things evolve over time.”



Will next-gen oncology be driven by nanorobots?



Remember those illustrations in the 1976 children&#8217;s book The Value of Believing in Yourself: The Story of Louis Pasteur? Tiny warriors drawn inside syringes, ready to battle disease. What once captured children&#8217;s imaginations is now a scientific reality. Today, AI is turning this vivid imagery into a radical new approach to fighting cancer: nanorobotics – sophisticated molecular machines that are redefining how we target and treat tumors. “These are kind of like rocket ships,” explains Dr Divya Chander, “your rocket ship could be a bacterial cell, or it could be a virus&#8230; or it can be a nanorobot that we create, but essentially it can hold a payload. And so, the shell, the main structure, is something that can actually be activated, like a heat seeking missile.” These tiny machines, typically measuring between 1 to 100 nanometers, are programmed to act as precision delivery systems. One breakthrough example comes from Arizona State University, where researchers have developed DNA nanorobots loaded with thrombin. These microscopic warriors seek out cancer cells and effectively starve tumors by cutting off their blood supply – a far cry from the broad, systemic effects of traditional chemotherapy. The development of nanorobots goes hand-in-hand with what Chander calls “living medicines”. Instead of traditional drugs, living medicine uses nature’s own tools (like bacteria or viruses) to fight diseases. It&#8217;s almost like having tiny helpers that can do things our bodies can&#8217;t do on their own. “A living medicine involves programming a life form to deliver a specific treatment, unlike traditional medicines, which are molecules that spread passively through the body based on physics and chemistry,” explains Chander. “These targeted therapies are extraordinary because they don&#8217;t come with the same side effects as systemic drugs… and chemotherapy is toxic.” What makes nanobots so exciting for cancer treatment is their ability in precisely attacking tumor cells. One new study found that nanorobots reduced tumor size by 65.2% compared to chemotherapy&#8217;s 40.5% reduction. They also delivered drugs with an impressive 92.7% accuracy, detected tumors nearly twice as fast and caused significantly fewer side effects. Most strikingly, patients treated with nanorobots achieved a 78% survival rate within 12 months, compared to 54% for those on chemotherapy.

3D virus cells attacking a DNA strand

A New Era In Oncology: Tackling The Dreaded ‘C’ Word With AI

The company known for its festive fruit baskets just launched a new website for hemp-derived, THC-infused beverages and gummies.



Edible Brands, the parent company of the fruit basket outfit Edible Arrangements, is taking a bite of the cannabis industry.



The Georgia-based company, which had $500 million in annual sales last year, launched Edibles.com this week, an e-commerce site that sells hemp-derived THC products made by some of the biggest brands in the marijuana industry, including&nbsp;<a href="https://www.forbes.com/sites/willyakowicz/2023/06/01/nancy-whiteman-interview-wana-brands-cannabis-edibles-empire/">Wana</a>,&nbsp;<a href="https://www.forbes.com/profile/kiva-confections-kristi-and-scott-palmer/">Kiva</a>&nbsp;and&nbsp;<a href="https://www.forbes.com/sites/willyakowicz/2021/04/23/meet-cann-the-bestselling-cannabis-beverage-thats-coming-hard-at-hard-seltzer-ellen-degeneres-weed-drinks/">Cann</a>. Edible Brands is&nbsp;not&nbsp;selling marijuana, which is federally illegal, but is focusing on THC products derived from hemp,&nbsp;<a href="https://www.forbes.com/sites/willyakowicz/2024/10/05/hemp-madness-why-the-government-is-waging-war-against-marijuanas-legal-cousin/">marijuana’s less potent and federally legal cannabis cousin</a>.



But these products are still strong enough to get customers stoned. “This is a really natural fit for us,” Edible Brands CEO Somia Farid Silber tells&nbsp;Forbes. “We&#8217;re already called ‘edible’, right? We know that sometimes there’s even a little bit of an expectation from a customer for [cannabis] products.”



Edibles.com, which the company acquired last year, will launch in Texas first but will soon expand to Georgia, Florida, North and South Carolina, and expects to go nationwide later this year. With its network of more than 700 Edible Arrangements stores, the company says customers can order online and get their cannabis products delivered to their door faster than an old school pot dealer.



“We have an incredible delivery network with our franchisees for fulfillment—we can reach 70% of U.S. households within an hour,” says Silber.



Because marijuana is still illegal at the federal level but hemp has enough THC to get someone high, some of the weed industry’s biggest players have started selling hemp products outside of dispensaries. The&nbsp;<a href="https://www.forbes.com/sites/willyakowicz/2024/04/19/the-cannabis-civil-war-hemp-vs-marijuana/">hemp and marijuana industry used to be at war</a>, but over the last year some of the biggest cannabis companies, from Curaleaf and Trulieve to Kiva and Wana, have embraced the federal legality of hemp-derived cannabinoids, thanks to the&nbsp;<a href="https://www.fda.gov/news-events/congressional-testimony/hemp-production-and-2018-farm-bill-07252019" rel="noreferrer noopener" target="_blank">2018 Farm Bill</a>, and started selling their own products.



The hemp products industry is even bigger than the marijuana sector, which has been throttled by a <a href="https://www.forbes.com/sites/willyakowicz/2021/04/30/state-legal-cannabis-companies-pays-insane-tax-rates-thanks-to-a-minnesota-speed-dealer/">punitive federal tax code</a> for drug traffickers and <a href="https://www.forbes.com/sites/willyakowicz/2022/08/02/how-america-botched-legalizing-cannabis-berner-cookies-kim-rivers-trulieve-steve-deangelo/?utm_campaign=socialflowForbesMainLI&amp;utm_medium=social&amp;utm_source=ForbesMainLinkedIn">overregulation on the state level</a>. In 2023, hemp products sales hit $28 billion while marijuana sales topped $26 billion, according to <a href="https://www.whitneyeconomics.com/2023-us-national-cannabinoid-report" target="_blank" rel="noreferrer noopener">Whitney Economics</a>.



<hr class="wp-block-separator has-alpha-channel-opacity"/>



Joe Hodas, the CEO of Wana, one of the country’s best-selling edibles manufacturers, says he sees hemp as a way to expand to states that do not have recreational marijuana laws. Wana has also started selling its hemp-derived THC beverage line in Total Wine stores.



This is not the first time Edible Brands dipped into the cannabis space. In 2019, Edible Arrangements&nbsp;<a href="https://www.cnn.com/2019/11/21/business/edible-arrangements-cbd/index.html" rel="noreferrer noopener" target="_blank">launched its own CBD edibles line</a>, which are not psychoactive. But this pivot to THC is even more bold. And it’s a signal that cannabis products, especially edibles and beverages, have gone mainstream.



In 1999, Pakistani immigrant Tariq Farid launched the first Edible Arrangements store in Connecticut. Now based in Georgia, the company has become the go-to fruit basket gifting company by selling chocolate covered strawberries, cookies and bouquets of cut fruit for birthdays, anniversaries, funerals and other life milestones. In addition to its franchised stores across the U.S., Edible Brands also owns freshfuit.com and Roti, a fast-casual Mediterranean restaurant chain.



<hr class="wp-block-separator has-alpha-channel-opacity"/>



Edible Brands is going headlong into the political battle over THC hemp products currently underway in Texas. Lt. Governor Dan Patrick is leading a push to shutter the industry, which is composed of more than 8,000 hemp shops across the state. On Wednesday, the Texas Senate passed a bill&nbsp;<a href="https://www.texastribune.org/2025/03/19/texas-senate-hemp-ban-thc-dan-patrick/" rel="noreferrer noopener" target="_blank">that would ban all products containing THC</a>, including gummies, vapes, flower, and beverages. The bill has not become law as the House still needs to vote on its proposal, which would regulate, not eliminate, the state’s hemp market. None of this is stopping Edible Brands.



The company is also building a flagship Edibles store in downtown Atlanta. The company will own the first few hemp products stores under this concept but will eventually open the model up to franchisees.



“We&#8217;re treating it like a bodega style [store],” says Thomas Winstanley, the executive vice president of Edibles.com. “We want to make it feel like it&#8217;s a regular consumer experience that&#8217;s elevated, that&#8217;s premium, and doesn&#8217;t feel like you&#8217;re walking into a smoke shop, or a gas station.”



When asked if Edible Brands is betting its future on cannabis, Silber, the founder’s daughter, is clear. “For us, this is just one of the pillars of our growth strategy,” she says. “It&#8217;s definitely not a make or break type of thing. We&#8217;re going to continue to diversify and grow this brand, just as we are with [our] other brands.”

Chocolate CBD bites

Edible Arrangements Can Now Get You High—On Edibles

The decorated former Olympian and Zimbabwe’s sports minister Kirsty Coventry will replace Thomas Bach as President of the IOC.



<blockquote class="wp-block-quote has-medium-font-size is-layout-flow wp-block-quote-is-layout-flow">
“It&#8217;s a signal that we&#8217;re truly global…”
</blockquote>



Double Olympic champion Kirsty Coventry continues to set new records after she was elected president of the International Olympic Committee on Thursday, becoming the first woman, first African and youngest-ever to hold the prestigious post in the 130-year history of the organization. Zimbabwean Coventry, 41, needed only one round of voting as she secured her mandate, replacing outgoing president Thomas Bach, who did not stand for re-election.



&#8220;It is a really powerful signal,&#8221; Coventry said. &#8220;It&#8217;s a signal that we&#8217;re truly global and that we have evolved into an organization that is truly open to diversity and we&#8217;re going to continue.&#8221;



Coventry won 49 of the 97 votes in the first round for a majority ahead of Juan Antonio Samaranch Jr, who earned 28 and finished in second. Sebastian Coe from the United Kingdom was third having managed only eight votes.



&#8220;This is not just a huge honor, but it is a reminder of my commitment to every single one of you that I will lead this organization with so much pride,&#8221; Coventry said at the IOC session in Pylos, Greece.



&#8220;I will make all of you very, very proud, and hopefully extremely confident with the choice you&#8217;ve taken today, thank you from the bottom of my heart.



&#8220;I&#8217;m going to sit down with President Bach. We&#8217;re going to have a few months for a handover takeover. And what I want to focus on is bringing all the candidates together. There were so many good ideas and exchanges over the last six months.”



The next Summer Olympic Games are in Los Angeles in 2028 and Coventry must navigate an increasingly difficult geopolitical landscape that will inevitably spill over into sport.



&#8220;We need to look at the IOC and our Olympic movement and family and decide how exactly we&#8217;re going to move forward in the future,” she said. “What is it that we want to focus on in the first six months? I have some ideas, but a part of my campaign was listening to the IOC members and hearing what they have to say and hearing how we want to move together.



&#8220;It&#8217;s extremely important we have to be a united front and we have to work together. We don&#8217;t and we might not always agree, but we have to be able to come together for the betterment of the movement.&#8221;



Coventry is a decorated former Olympian having won two gold medals, four silver and a bronze in backstroke and medley events in the pool.



She shone at the Athens (2004) and Beijing (2008) Games. &#8220;Greece seems to be my lucky charm,&#8221; she said with a smile.



Since retirement she has turned to politics having been Zimbabwe’s sports minister since 2018.



A champion of the African continent, Coventry has pledged to expand Olympic participation and ensure the Games remain relevant to younger generations.

144th International Olympic Committee (IOC) Session – Day Two

Meet The First Woman, First African And Youngest-Ever To Be Head Of The 130-Year-Old International Olympic Committee

These Ugandan game designers and founders are holding up a mirror to society with their art.



As many a traveler knows, you’re never alone if you’ve packed some cards. You could indulge in the terse isolation of solitaire, but in East Africa you can make an instant friend with an invitation to a game of matatu, a simple, addictive pastime played with a standard 53-card pack. The game is often encountered on the eponymous minibuses in the region, as seats can sometimes be turned to face each other so a feisty card battle can ensue.



A colonial acculturation introduced from Europe, card play thrived in the brighter, warmer climes of the African continent, where playing games like matatu on the streets triggered a viral propagation of these easily learned diversions.



Since returning home after studying abroad, two childhood friends have created a company that reconfigures the hobby with a Ugandan twist, tapping into card games’ inherent sociability and low barrier to entry. Denzel Muhumuza and JJ Asiimwe are the founders of the company Mizano, and creators of a vivacious range of games that draw on the cultural idiosyncrasies of modern Uganda.



“The name Mizano is derived from the Ankole language, and refers to the act of playing,” says Muhumuza, the company’s managing director, and designer of the games’ vibrant artwork.



“Uganda has a huge gaming culture. At the market in downtown Kampala, people are always playing cards. So we&#8217;re trying to plug into that gaming ecosystem. The issue is that they’re playing with cards that arrived in the 19th century – a White queen, a White king. We want people to play games that are inflected with their cultural identity. That was our driving mission: to uniquely celebrate our culture.”



Their flagship product is Mulodi, a property game that leans hard into the spiky back-and-forth of East Africa’s notoriously perilous real estate hustle: in a mischievous nod to the urban landscape’s ubiquitous painted ‘this land is not for sale’ signs, the game even allows you steal another player’s estate (and bank the proceeds).



“It&#8217;s about making money – and trying to protect your property from other people!” says JJ Asiimwe, Mizano’s co-director. He points out some of the game’s action cards. “Banja means getting back money from someone who owes you. And this one is ‘wedding meeting’, which means everyone has to pay you 20 million shillings towards your wedding. Weddings are a big part of our culture, and a lot of people have a meeting where you might have a community help you fundraise.”



The name of the Mulodi game, which now has a safari real-estate spin-off, is another hat-tip to the stratified financial power-wielding of Ugandan society. “A rich, successful person is called a mulodi,” Muhumuza says. “Here, there are no land titles. It’s all based on your neighbors knowing you own the land. That&#8217;s what we tried to capture: people are always trying to get ahead ‘differently’. So, if you&#8217;re playing this game, it’s about understanding your partners are riddled with corruption&#8230;”



It&#8217;s an affectionate but unflinching satire about the nefarious goings-on in everyday economic life, and a deliberate effort to educate as well as entertain (the company also produces a skew called Eyedentify, a symbol-matching game especially popular with children).



Do the two entrepreneurs feel a responsibility to decolonize popular gaming culture for this new generation of card players?



“Every problem’s an opportunity, right?” says Asiimwe. “It reflects what we’re going through. We were educated in this system, and went abroad; now we’re back, reconnecting with our roots. So, it feels good, because it’s in line with what we’re doing with our own lives. We’re doing it for business – but we’re also contributing to society.”

Mizano founders

The Ugandan Game Designers Playing Their Cards Right

The speed of AI development is leaving countries with limited digital infrastructure behind, and the gap is widening at an unprecedented rate.



In Africa, there is a need for massive digital infrastructure investment that prioritizes bridging the digital divide, particularly where the gap is widening exponentially. As David Martinon, French Ambassador to South Africa and former French Ambassador for Digital Affairs, said at the recent Finance in Common Summit (FiCS) hosted in Cape Town: “AI may seem virtual for the end user, but it needs a skeleton. It requires heavy investment in infrastructure and increased connectivity to democratize access.”



Yet, Africa is lagging when it comes to digital infrastructure. Many countries lack the cloud, connectivity, high-speed networks and data centers required to handle the demands of the technology. Hun Kim, Acting Vice President of Investment Solutions at the Asian Infrastructure Investment Bank (AIIB), said: “African countries lack the backbone of cloud and connectivity, among other core infrastructure necessities, and without these, AI will remain a distant concept rather than an accessible tool. Already there’s a digital divide and AI is doubling, even tripling this, as countries without digital infrastructure risk falling even further behind.”



The gap is further wedged open due to limited access to funds. Infrastructure funding is challenging to source, and prone to bottlenecks that introduce lengthy delays. The result is that Africa is slipping down the AI hill because countries can’t get a grip on the infrastructure, they need to embrace the technology effectively. There is work being done to rectify the challenge, but it remains slow. The Agence Française de Développement (AFD) committed 288 million Euros between 2021-2023 for broadband construction and datacenters across Africa, but this is just a drop in the ocean.



AI drives a growing demand for materials and energy that’s a challenge in markets where access to energy is fragile or insufficient. Ygor Scarcia, Industrial Development Expert at the United Nations Industrial Development Organization (UNIDO), also emphasized the risk of growing inequalities: “The challenge is risking the divide between industrialized and non-industrialized economies.”



Africa is already making strides in AI with initiatives like the African Union’s digital transformation strategy, various tech hubs across the continent, and notable AI research projects.



Finance institutions, governments and private sector need to collaborate to find smarter ways of building Africa’s digital infrastructure and prioritizing critical environmental and governance requirements to ensure the continent doesn’t sit at the bottom of the slope. The continent has the talent and the potential, now it needs the investment impetus to take hold of AI and take the lead.

The Power of AI. Transforming Industries and Customer Service. A Look into the Future. Yellow AI icon processing texts and commands on smart phone. 3D render

An Exponential Threat: Is AI Leaving Africa Behind?

Dr Patrice Motsepe was elected unopposed for a second term as President of Confederation of African Football (CAF) in March, a nod to the progress made since he first took office four years ago as he has proposed a new, ambitious target for the organization.



CAF, as with many sporting bodies around the world, has grappled with various challenges brought about by the Covid-19 pandemic and the ever-evolving manner in which fans consume sport, but is now arguably on its soundest footing for some time.



Motsepe has not been without his critics, but the proof of his impact is in the numbers.



CAF has managed to increase its annual subversions to Member Associations from $200,000 to $400,000 per annum, and to its six Zonal Unions from $500,000 to $750,000. That money is earmarked for football development.



Prize money across all CAF competitions is up, not least for women’s football, with CAF investing almost five times as much in the women’s game as at the start of his tenure.



Renewed sponsorships and record television audiences have been a driver behind improved revenue that is budgeted to take CAF forward in the 2024-25 financial year.



But, Motsepe says, this is just the beginning, and he has ambitious plans for his second term.



“The tender is open for the $1-billion contribution to African football over the next eight years and it’s going very well,” Motsepe said. “We have to comply with Comesa (Common Market for Eastern and Southern Africa), because there are regulations in Comesa that you cannot conclude an agreement for more than four years.



“We don’t only have to comply but respect those regulations. Many of the partners we are talking to are saying, but president of CAF, you want $1-billion, we will give you $1-billion, but we need more years.



“The aim is to give every African nation $1-million (subversion) annually, starting in 2026.”



Having launched the CAF Women’s Champions League soon after taking office in 2021, Motsepe says the ladies’ game will continue to be a special focus.



“An African women’s national team may win the (FIFA) World Cup before a men’s national team,” he said. “Governments can help. The private sector. Half of our (African) population are women. Women’s football is about inspiring young girls.”

Dr Patrice Motsepe was elected unopposed for a second term at CAF’s 14th Extraordinary General Assembly in Cairo on March 12; image supplied

African Billionaire’s Ambitious Plans For Second Term As Football Boss

It is a word that does not roll off the tongue, though “kakistocracy” perfectly captures the wave of frustrations many encounter at work.



Derived from the Greek words ‘kakistos’ (worst) and ‘kratos’ (rule), it refers to leadership by the least competent or most inept.



Once confined to political commentary, kakistocracy is increasingly a talking point in all types of organizations, from large corporations to small businesses, not-for-profits and community groups.



It is not that there are not enough excellent examples of well-led organizations out there.



Yet, as we start the new working year, too many organizations will continue to flounder, steered by leaders who prioritize ego over expertise and appearances over meaningful outcomes.



Kakistocracy epitomizes a leadership style driven not by progress but by personal gain, favoritism and an unfortunate embrace of ineptitude.



This result is organizations that resemble rudderless ships – unstable, directionless and destined to flounder under the weight of mismanagement.



When organizations enter a kakistocratic state, where those ill-equipped to lead occupy critical roles, decisions become reactive, priorities shift aimlessly and those aboard are left feeling adrift.



The consequences ripple outward, eroding trust, stalling progress and creating a culture of disillusionment where employees, customers and stakeholders feel trapped by poor leadership.



Understanding how kakistocracy anchors itself in workplaces begins with examining the choices made at the outset.



It often starts with a failure to prioritize leadership fundamentals in recruitment or promotions.



Those unfit for the demands of the role might rise to the surface, buoyed by charisma rather than capability.



Once in place, these so-called leaders surround themselves with like-minded allies to create an echo chamber where dissenting voices are drowned out and decision-making becomes insular and erratic.



This dynamic thrives in environments where accountability has eroded, leaving the ship rudderless.



Poor decisions carry little consequence, allowing incompetence to flourish.



Boards, stakeholders or governing bodies might fail to chart a course of accountability, valuing loyalty over results and sidestepping challenges rather than tackling them head-on.



Even glaring errors are met with a shrug, further emboldening those least equipped to lead.



Performative leadership is another factor driving kakistocracy.



In an age where visibility often trumps substance, leaders who excel at projecting confidence, spinning narratives or delivering soundbites are frequently elevated – regardless of their track record.



Leadership becomes less about steering through rough waters and more about crafting a compelling image.



The ripple effects extend beyond the organization’s walls as kakistocracy stifles innovation, creativity and morale.



Talented employees often find themselves marginalized or disengaged, their contributions overshadowed by political manoeuvring and self-promotion.



This dynamic can lead to a talent drain, with the most-capable individuals seeking opportunities elsewhere.



When this exodus occurs, the damage extends to the organization’s reputation.



The good news is history has shown that even the roughest waters can inspire change.



Poor leadership can serve as a wake-up call, forcing organizations to confront their flaws, rethink their structures and rebuild stronger, more resilient systems.



This process is not easy and underscores the importance of reimagining leadership – not as a position of privilege but a responsibility demanding expertise, collaboration and a commitment to excellence.



This year, organizations must rewrite the rules of the game.



Leadership should no longer be about who speaks the loudest but who can chart the clearest, most effective course.



The challenges of modern workplaces require leaders who can listen, adapt and unite teams towards a shared vision.



By anchoring decisions in competence, fostering accountability and encouraging collective engagement, workplaces can move beyond the tide of kakistocracy and set sail towards a future where leadership is truly fit for the challenges ahead. Only then can organizations ensure they are equipped to navigate any turbulence the new year might bring while emerging stronger and more resilient.

Mature businessman leading meeting in office

Expert-Speak: Kakistocracy And Why We Need A Leadership Reset This Year

At a time when the global automotive space is navigating an era of transformation, the country’s industry stands at a crossroads. Toyota South Africa Motors (TSAM) CEO and President, Andrew Kirby, recently depicted a stark yet hopeful vision for the sector.



The automotive business council of South Africa, NAAMSA, has released a report that paints a mixed picture of the country’s automotive sector. However, policies play a key role in addressing challenges in the industry and four, in particular, are worth noting.



According to the NAAMSA report, total vehicle sales in 2024 reached 515,712 units, reflecting a 3% decline compared to the previous year. Passenger car sales grew by 1.1%, but light commercial vehicle sales dropped by 12%, and heavy trucks and buses saw declines.



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With regards to this, Andrew Kirby, the CEO and President of Toyota South Africa Motors (TSAM) emphasized, in January, that five key market shifts would redefine the automotive landscape this year, namely:



<ol class="wp-block-list">
<li>A consumer-driven shift in the affordability factor</li>



<li>SUVs continue to dominate</li>



<li>The rise of in-car technology</li>



<li>The Chinese and Indian automotive surge</li>



<li>The new energy vehicle (NEV) transition</li>
</ol>



“If we look at used car sales, we’ve seen a significant increase,” Kirby explained at the time. “Consumers are prioritizing affordability, with many unable to meet financing requirements for new vehicles. This trend will persist into 2025, influencing model availability and pricing strategies.”



He added: “The in-car experience is now a decisive factor in purchase decisions… it’s not just about driving anymore; consumers want seamless connectivity between their vehicles and smartphones, creating a digital-first car ownership experience”.



In terms of theshift in the automotive power map, the following should be noted:



<ul class="wp-block-list">
<li>Chinese-made vehicles now account for 29% of global production and sales, with a 645% increase in South Africa alone over the past five years.</li>



<li>India’s automotive market share has grown by 20% globally, now making up 30% of South Africa’s vehicle imports.</li>



<li>Germany, once a dominant force, has now fallen out of the top five vehicle-producing nations globally.</li>
</ul>



The Four Policy Challenges That Must Be Addressed



A review of these challenges necessitates that, to remain competitive and stimulate a strong sector, several factors must remain at the forefront as the year advances:



1. The Stalled South African Automotive Masterplan (SAAM)



SAAM, released to the public in 2018, set ambitious targets for production volumes, employment, and local content. However, six years later, critical pillars remain unimplemented — particularly optimizing the local market and regional trade integration.



2. An Unequal Playing Field for Imports



China’s state-backed incentives and aggressive pricing are reshaping global trade. South Africa, however, lacks a fair competition framework.



The country, therefore, needs balanced trade policies that allow competition without undercutting local manufacturers.



3. An Incomplete EV Policy



South Africa’s current EV incentive structure is inadequate and Kirby had urged that, “we need a broader industrial policy that considers hybrids, plug-in hybrids and battery electric vehicles, rather than a narrow focus on full EVs”.



4. The Early Signs of Deindustrialization



According to the Toyota CEO, South Africa is showing signs of deindustrialization, with imported vehicle sales outpacing locally built models.



“We need to create scale, increase local content, and attract investment — or risk losing our automotive manufacturing stronghold,” he has said.



5.The Road Ahead



Despite the challenges, Kirby stated that there are incredible opportunities here but they hinge on proactive policy reforms.



As South Africa stands at this defining moment, the decisions made in the next three years will determine whether the country remains an automotive powerhouse — or falls behind in the global race.

Professional Engineer Works on a Computer with a 3D CAD Software and Tests the Electric Car Chassis Prototype with Wheels, Batteries and Engine Standing in a High Tech Development Laboratory.

What Lies Down The Road For South Africa’s Auto Industry?

The cultural phenomenon that it now is, since launching in 2016, TikTok has rapidly grown as a social media platform with an audience of over 2.1 billion users. About 25% of those users are between 18-24 years old, according to Exploding Topics, which analyzes millions of searches, conversations and mentions across the internet.



This week, TikTok marked yet another milestone by expanding the parental and wellbeing tools designed to support families in fostering healthier digital habits for teens. These updates – part of TikTok’s commitment to online safety – enhance Family Pairing by providing parents with greater oversight while encouraging responsible and mindful screen-time among younger users.



The feature has been designed to ensure the safety of teenagers, but according to Adam Presser, Head of Operations &amp; Trust and Safety at TikTok, it’s also to provide parents with “peace of mind”.



“No teen or family is the same, and whether it&#8217;s during family time, school, at night, or a weekend away, caregivers can use our new Time Away feature to decide when it’s best for their teens to take a break. Parents can also set a reoccurring schedule to best suit their family life. If plans change, teens can request extra time, but parents make the final decision,” Presser said in a statement.



According to Statista, as of February 2025, United States has the largest TikTok audience by far, with almost 135.79 million users engaging. Indonesia followed, with around 107.7 million TikTok users. Brazil came in third, with almost 91.75 million users on TikTok watching short-videos. Reports show that on the Africa continent, Egypt has 37 million TikTok users, the highest in Africa, with Nigeria in second place with 23.84 million users and South Africa with 17 million users.



Senegalese-Italian influencer, Khaby Lame, is the most-followed TikTok creator with over 162.8 followers.



TikTok has designed the additional features to help teens develop balanced long-term habits, and reported that in countries where this has already been piloted, the vast majority of teens decide to keep this reminder on.

In this photo illustration the TikTok logo seen displayed on

New Features On TikTok For Healthier Digital Habits Among Teens

Passionate about clean water and advocating for the basic needs for women and girls on the continent, Lumbie Mlambo spoke to us at the 2025 FORBES WOMAN AFRICA Leading Women Summit about walking the talk when it comes to humanitarian work on the ground in Africa.



“We can talk all we want , but if you don’t put action behind it, nothing happens. I always tell people that when I talk, I’m talking because I’m actually doing something,” Lumbie Mlambo says to FORBES AFRICA.



Mlambo is the founder of J.B. Dondolo, a non-profit organization that works to remove barriers of access to clean water, sanitation, and hygiene in underserved and impoverished communities.



This need to promote development and gender equity stems from the vision and values of her father, who was a humanitarian advocate and instilled the importance of this type of work in his children.



She believes that tragedies can teach you something, and it was tragedies in her own life–which included experiencing a stroke at a very young age and losing her father–that led her to found the organization, which she named after him.



“Before he died, he wanted all his children to continue his humanitarian work because he was a humanitarian in the community he lived in,” she says.



“I took a leap of faith and decided [to] go check it out. While I was there, I found out that the community; the clinic wanted something totally different–they wanted water. I decided, ‘let me give them what they want’, but also finish my father’s work; refurbish the clinic. I did that, and I started learning about water, and I fell in love with it.”



The U.S.-educated Mlambo goes on to explain the work she is doing in several countries in southern Africa and East Africa.



“I’m here right now in South Africa because I’m starting an innovation for water. I’m working with companies here, creating jobs, enabling them to do something for themselves.



“I’m going to Zimbabwe [with] the same innovation, which is Climate H20 for water; we’ve started a factory there. They’re just going to pilot-test it for three to six months, fine tune it until it works, then mass produce it. So, there’s action.”



She also emphasizes the significance of providing basic services to women and girls who are adversely impacted by the lack of water.



Addressing this need allows them to be happy, go to school, start businesses and just experience an overall sense of good physical and mental health.



“I always say, ‘J.B. Dondolo has to strive’, because when I utter my father’s name, I’m always reminded that he was a strong man–he never gave up on the community,” Mlambo says with conviction.



She adds that “the 2030 SDGs are not going to be accomplished by just talking alone; we need to be piloting work on the ground and measuring it”.

Lumbie-Mlambo_DSC6218_copy_80x80q

What Tragedy Can Teach: The Zimbabwean Fighting For Water Innovation And Access In Africa

South Africans have responded to the implications of the budget speech while experts have noted the balance between fiscal consolidation and economic growth, though risks remain.



South Africa’s Finance Minister Enoch Godongwana delivered the country’s 2025 Budget Speech on March 12; and strong reactions followed the minister’s announcement of the 0.5% increase to Value Added Tax (VAT) for the current financial year.



Wealth management firm, Citadel’s Chief Economist, Maarten Ackerman, said that the VAT increase of 0.5% in 2025 and another 0.5% in 2026 reflects the government’s urgent revenue needs, balanced against the political negotiations it is locked in with the other political parties in the Government of National Unity (GNU).



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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">This budget speech really has me thinking , how quickly this economy shift impacts my startup business &amp; proof that we need to PLAN Business owners how are you holding on ? <a href="https://twitter.com/hashtag/FNBBudgetSpeech2025?src=hash&amp;ref_src=twsrc%5Etfw">#FNBBudgetSpeech2025</a><a href="https://twitter.com/hashtag/Budget2025?src=hash&amp;ref_src=twsrc%5Etfw">#Budget2025</a> <a href="https://t.co/fX27siJhNc">pic.twitter.com/fX27siJhNc</a>&mdash; MaSediane (@lehlohonolosed) <a href="https://twitter.com/lehlohonolosed/status/1899822407986131228?ref_src=twsrc%5Etfw">March 12, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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“Higher taxes could further constrain consumer spending and economic activity. Treasury’s decision not to adjust income tax brackets for inflation will also add to financial strain on households,” Ackerman added.



In a statement by the Organisation Undoing Tax Abuse (OUTA), it said it was deeply concerned by the VAT announcement. The registered non-profit civil action stated that this is a regressive tax that will hit South Africans across all income levels, particularly low- and middle-income households, and is unacceptable.



“Treasury has opted for the easy option of a VAT hike rather than taking bold steps to cut waste, address inefficiencies, and tackle corruption. A VAT hike may be easy to collect, but it disproportionately impacts the poor. Government must focus on cutting waste and ending corruption before reaching into citizens’ pockets,” said OUTA CEO Wayne Duvenage.



Thomas Lobban, Director of Ibex Consulting, a division of Latita Africa, said that the budget speech is bad news for taxpayers especially when looking at the VAT increase. 



“While this move was anticipated, what has come as a shock is the decision to keep personal income tax brackets unchanged for the third consecutive year,” he said.



“With no adjustments for inflation, individual taxpayers will effectively pay more tax in real terms, leading to diminished purchasing power across the board.”



Politicians also noted their concern over the budget speech with the African Transformation Movement’s (ATM) Vuyolwethu Zungula emphasizing that the problem is that government refuses to go after big corporates who are making money in South Africa.



“This does not strike the middle ground,” Zungula told the South African Broadcasting Corporation (SABC).



“Because the real impact will be when it comes to the poor. The poor now already have to be content with an increase in electricity prices, and fuel prices and we already have high interest rates.”



ActionSA’s Athol Trollip added that the economy is already struggling and this is mostly due to corruption. The political party said on X that they firmly reject the proposed 1% increase in VAT– 0.5% this year and 0.5% next year–as well as the hidden tax increase caused by the failure to adjust personal income tax brackets for inflation.



“The economy can’t grow, the minister himself said it’s been staggering for 10 years,” Trollip told reporters after the budget speech. &nbsp;“And because of that we have more and more people on social relief grants and that’s why the budget can’t balance.”



“While there are positive elements in the budget,” Ackerman said, “such as plans for greater public and private infrastructure spending, attempts to stabilize debt, and a seeming willingness to appease opposition partners in the Government of National Unity (GNU) as South Africa’s democracy matures – several underlying risks could derail the government’s projections, especially if execution on ambitious plans to achieve 1.8% gross domestic product (GDP) growth, falters.”

South Africa’s Fractious Coalition Faces Second Budget Reckoning

Citizens And Politicians React To 2025 South Africa Budget

Will Trump’s tariffs and his assault on the federal government lead to a deeper crash, or even a recession? Market experts advise long-term investors and 401(k) holders to sit tight.



While the last&nbsp;three weeks have been punishing for the stock market, veteran wealth managers are sounding a similar refrain for long-term investors: don’t panic.



It can be difficult advice to heed when alarming headlines are regularly flooding the news. Two days after the S&amp;P 500 index hit its all-time high on February 19, hedge fund billionaire Steve Cohen made a prescient prediction that he wouldn’t be surprised to see a “significant correction” in the stock market, calling tariffs an additional tax. On Tuesday this week, JPMorgan economists raised their recession risk forecast for this year to 40% from 30%. The S&amp;P 500 is down 9% from its high and seems destined to fall further.



But history suggests changes in sentiment often happen much faster than investors expect. Just last year, when stocks fell 8.5% over three weeks in July and August, those losses were erased within a month. The same is true of the S&amp;P 500’s last 10% correction, which took place from July to October 2023.



In fact, Dave Donabedian, co-chief investment officer of CIBC Private Wealth U.S., which manages $84 billion in assets, says his firm researched “true crises” far more consequential than the current self-inflicted declines fueled by tariffs—shocks to the system like outbreaks of war or the onset of Covid-19.



“What you find is that about two-thirds of the time, the S&amp;P 500 has recovered all that it lost after the shock in a month,” says Donabedian. “The punch line is don’t do knee-jerk selling, and we’ve certainly had some of those conversations in the last week or so.”



The primary culprit for the current stock market swoon is the uncertainty caused by President Donald Trump’s imposition of tariffs on imports from China, Canada and Mexico. Trump initially announced the tariffs over the weekend prior to February 3, but when the market opened that day down 2%, he changed course and granted Mexico and Canada a temporary 30-day reprieve following concessions they made to secure their borders with the U.S. Stocks quickly rebounded.



That pause expired with Trump allowing the tariffs to take effect on March 4, but he soon carved out exemptions for some goods subject to a trade agreement he signed during his first term. Since then, investors have become increasingly dismayed at Trump’s uncharacteristic indifference to the stock market—last Thursday, he told reporters he’s “not even looking at the market.” This week, he walked back a threat to hike tariffs on Canadian steel and aluminum imports to 50%, but added a 25% charge on those metals shipped from any foreign country, leading to retaliatory tariffs imposed by the European Union on U.S. imports. The whipsawing is only adding to investors’ uneasiness.



“We knew tariffs were negative for economies, but it’s less the impact of the tariffs themselves than the uncertainty of the policy,” says Adrian Helfert, chief investment officer for alternative and multi-asset portfolios at Westwood. “Small and mid-sized businesses need to know what to expect so they can plan their capital expenditures. Uncertainty leads to businesses that are nervous to plan for a future that they don’t know.”



More clarity shouldn’t be particularly hard to provide, and while Donabedian contends it would be “foolish” to make a short-term prediction about whether the next piece of news is better or worse for investors, the perceived risk of the tariffs could peak within the next couple of months. “Our view is still that we get a year of slow growth, but not a recession,” he says.



And there’s reason for optimism elsewhere in the economy. Inflation eased to 2.8% in February, the Bureau of Labor Statistics reported Wednesday, slightly lower than consensus expectations, which improved hopes that the Federal Reserve will cut interest rates this year. The S&amp;P 500 crawled 0.5% higher yesterday, resisting the downward trend and signaling that a broader rebound could be on tap if the tariff issue gets resolved.



The top-performing S&amp;P sector Wednesday was information technology, which gained 1.6% despite being one of the index’s largest laggards of the year, illustrating how quickly trends can reverse. Selling off parts of portfolios that look precarious could backfire if news changes quickly.



“For your average retail investor, the temptation is to say ‘I&#8217;ve got to do something’ during times like this, when the reality is, if you&#8217;re a long term investor, often your best decision is to stay out of your own way,” says Jim Baird, chief investment officer at Plante Moran Financial Advisors. “Unfortunately in this country, we&#8217;ve got far more people that aren&#8217;t saving enough or investing enough in preparation for their retirement than those that are over-saving or over-investing.”



Some strategists even see this as a time to buy into parts of the market that have underperformed if investors do have extra cash. The Russell 2000 index tracking small-cap stocks is down 17% from its post-election high and has hardly budged since the end of 2020, while large caps have enjoyed stronger gains for the last two years.



“If somebody were all in on the S&amp;P 500, I might counsel a little more diversification there, to maybe look at some things in the small- and mid-cap space or look at international, which has finally started to outperform the U.S.,” says Donabedian. Since Trump took office in January, Chinese stocks as measured by MSCI China are up 22%, and MSCI Europe has gained 9%. The S&amp;P 500 is down nearly 7% over the same period. Says Donabedian, “It’s an opportunity to pick some spots in the equity markets that have underperformed for a number of years.”



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