A political science student felt so angry and so strongly about a statue that early one morning he woke and drove to one of the townships on the fringes of Cape Town. Here he picked up a bucket of faeces, heavy from the night before. He put the stinking bucket into his car and drove to the University of Cape Town (UCT).
For the last few hundred yards, Chumani Maxwele, put the bucket on his shoulder. He wore running tights and a pink construction hat and clearly had no respect. His destination was the green lawns and scented flowers of the entrance to the university. He took a deep breath and threw the manure into the face of one of the world’s most famous colonialists who had died more than a century before.
<div id="attachment_4680" style="width: 210px" class="wp-caption alignleft"><img loading="lazy" decoding="async" aria-describedby="caption-attachment-4680" class="size-medium wp-image-4680" src="/wp-content/uploads/2017/04/Chumane-Maxwele-047-200x300.jpg" alt="" width="200" height="300" />Chumane Maxwele</div>
Maxwele was an angry Africanist who didn’t feel this face fitted in his continent; the face belonged to the statue of arch-imperialist Cecil John Rhodes, who died just down the road in his beach house at Muizenberg in 1902, and who donated the land to the university.
“The statue was a political symbol. Even when Rhodes was still alive and now dead, he represents a particular symbol of black people in pain, suffering and dispossession. If you look at the images of Rhodes, it’s all these African people lying with horses, his articulations and so on, you can tell there’s a direct relation between Rhodes and UCT, and UCT being controlled by white people. And there’s a direct relation with who controls the economy of the country and the state of black people. And yet the university takes so much pride in the man,” says Maxwele.
The bucket of faeces launched the Rhodes Must Fall (RMF) campaign. After a month of unrest and consultations at the university, the statue was transferred to a museum in Cape Town.
The anger from UCT reverberated across the country, with dozens of colonial statues defaced or destroyed by angry youth. Louis Botha, the first Prime Minister of the Union of South Africa, survived two wars but couldn’t dodge the red paint of protesters outside Parliament in Cape Town.
Exactly two years after Maxwele started the campaign, FORBES AFRICA spoke to the man in Cape Town. He had just left the gym, dressed in blue and white shirt, tight blue jeans and black brogues. He kept his composure throughout but his emphasis to decolonize the university was as sharp as it was two years ago. He looked nothing like the rabble-rouser portrayed in the newspapers.
“The process of bringing the poo to the statue, it was within political education in this country. People talk about townships and health issues at the university level, and yet these things are really happening. Us black people, we are there, we know these things first hand. People keep the poo buckets in their rooms at night, and in the morning take them to the pavement. And kids play with them, no one cares. I thought I might as well bring one to the university, as a way of saying there’s a problem there but at the same time addressing the racial problems at UCT,” says Maxwele.
At face value, Maxwele’s campaign can be simplified as only against Rhodes’ statue but the man insists there’s more to it than meets the eye.
“There are a lot of complicated issues involved in Rhodes Must Fall. Coming to the university as a rural African student, you are sort of told to leave who you are at the university’s entrance. There’s so much institutional and personal racism going on. Part of my protest was to exhibit white arrogance and black assimilation into the university system,” says Maxwele.
“On the question of curriculum, what is being taught and who is teaching it, and how it is being taught. There’s no way you are going to talk about the brutal killing of black people with what it deserves as a white person. UCT doesn’t recognize apartheid.”
Maxwele says black students and academics have accepted they must assimilate to survive. They fear they’ll be excluded and persecuted like he was.
“It is not easy to be honest to your cause. I have been suspended by the university for two years in 2015 and 2016,” he says.
In September last year, the anti-statue feeling spread to the University of Ghana where students and academics petitioned for the removal of Mahatma Gandhi’s statue. The protesters claimed the proponent of non-violence was racist and the university must replace his statue with an African hero.
The President of India, Pranab Mukherjee, unveiled the statue in June last year at the University of Ghana campus as a symbol of close ties between the two countries.
Gandhi, a native of India, spent 21 years in South Africa as a lawyer and civil rights activist. More than half a century after his assassination in India, like Cecil John Rhodes, Gandhi’s legacy divides the world.
Ashwin Desai, a professor of sociology in South Africa and co-author of The South African Gandhi: Stretcher-Bearer of Empire, wrote that Gandhi was never a saint, not even close.
“Some youngsters recently defaced Gandhi’s statue in Johannesburg for his perceived racism, while others demanded the defaming of Nelson Mandela, seen as a figure of excessive compromise who heralded disastrous economic policies…” says Desai.
The fervour and anger around statues grows. Many philosophers give reasons for this. The only certainty is if you put up a statue in Africa, be assured someone will want to tear it down.

Chumane-Maxwele-047

The Fight Over  Statues  Never Stands Still

Finally, Nigeria’s ministerial list is out. The four-month-long search for the country’s “impeccable characters” with outstanding records of achievements in business, politics and society came to a quiet end at the end of September.
Senate President Bukola Saraki read out the names of President Muhammadu Buhari’s 21 nominees, the first batch of nominations, for the Senate’s consideration, on October 6.
Constitutionally, the president could end up making more than 2,000 appointments over the next four years of his administration, all things being equal. Every decision, every appointment a Nigerian president makes is subjected to constitutional, political, religious and ethnic scrutiny.
<img loading="lazy" decoding="async" class="alignleft size-medium wp-image-4157" src="/wp-content/uploads/2017/04/Emmanuel-Kachikwu-001-300x188.jpg" alt="" width="300" height="188" />
After a year-long season of political campaigns and elections that left the economy largely unattended to by the Goodluck Jonathan administration, Buhari’s decision not to appoint cabinet ministers in the early days of his administration was a hugely unpopular move.
Nigerians therefore realized very early on that this was going to be a new kind of president.
“Nigeria must first put new rules of conduct and good governance in place,” Buhari told Nigeria’s Guardian newspaper in July.
“Integrity and experience will be central to President Buhari’s actions and decisions,” Babatunde Kwame Ogala, a lawyer and chieftain of the ruling All Progressives Congress (APC) party told FORBES AFRICA. “Beyond the need for a few political compromises here and there, you can see that the president is not someone that can be tele-guided by anyone or any interest group. He’s got a totally independent mindset.”
By delaying and downplaying appointments, the Nigerian leader was not only consolidating his hold on power, he was clearly hoping to replace the profligate culture of the past with a new political ethos. Previous presidents had used these appointments to settle political IOUs, compensating cronies, party chieftains and political sponsors. Consequently, the onerous task of nation building wasn’t always left in the hands of the most capable citizens.
This time around, the Abuja rumor mill was abuzz right after Buhari’s inauguration in May with tales of ministerial nominees failing the president’s integrity test. A glimpse of the first batch of ministerial nominees for Team Buhari reveals what political scientists always said about politics – a game of constantly shifting interests and horse trading.
On the Nigerian leader’s ministerial list were five former state governors, namely, Rotimi Amaechi, Babatunde Fashola, Chris Ngige, Kayode Fayemi and Ogbonnaya Onu; a former national chairman of the opposition Peoples Democratic Party (PDP); former state commissioners; seasoned technocrats and the current head of the national oil company. The president didn’t assign portfolios to his list.
<img loading="lazy" decoding="async" class="alignleft size-medium wp-image-4158" src="/wp-content/uploads/2017/04/Amina-Mohammed-001-300x290.jpg" alt="" width="300" height="290" />
Also on Buhari’s list is Chief Audu Ogbeh, 68, chairman of the PDP between 2001 and 2005. Appointed Minister of Communications in 1982, and later Minister of Steel Development, his term of office was truncated by Buhari’s military coup in 1983.
Another nominee, Emmanuel Kachikwu, was in August appointed group managing director of state oil company, the Nigerian National Petroleum Corporation (NNPC). He is a former executive vice-chairman of ExxonMobil Africa. Within 24 hours of his appointment, Kachikwu received the president’s permission to sack all the divisional heads of the NNPC. His place in Buhari’s economic management team is assured.
Oil exports account for 70% of government revenue. With oil prices dropping below $50 and likely to drop even further when Iran resumes supplies, continuous adjustments in budget benchmarks look certain. The Central Bank has announced a temporary ban on local transactions in dollars. Devalued first in November 2014, and again in February 2015, the Nigerian currency, the naira, still remains under immense pressure as the World Bank continues to counsel for more devaluation. An import dependent economy, a weaker naira will certainly make life more expensive for Nigerians. Analysts say Nigeria is likely to record its poorest fiscal performance in decades this year.
Other folks on Buhari’s list are: Lai Mohammed, a lawyer, businessman and stalwart of the APC; Udoma Udo Udoma, a lawyer, two-term senator between 1999 and 2007 and chairman of several entities, including UAC of Nigeria, Union Bank of Nigeria, Corporate Affairs Commission (CAC) and the Securities and Exchange Commission (SEC); Amina J. Mohammed, the United Nations Secretary-General’s Special Adviser on Post-2015 Development Planning; Kemi Adeosun, a former Commissioner for Finance in Ogun State, western Nigeria; Abubakar Malami; Abdurahman Bello Dambazzau; Aisha Jumai Al Hassan;  Adebayo Shittu;  Solomon Dalong; Dr. Osagie  Ehaneri; Suleiman Adamu; Ahmed Musa Bello; Ibrahim Usman Jubrin and Senator Hadi Serika.
Was the wait for this list worth it? Will this group of ministers, when and if eventually confirmed by the Nigerian Senate, bring a new kind of thinking to the Buhari administration?
Expectedly, the opposition party, the PDP has lampooned the list, saying the president’s proposed cabinet were “a bunch of failed politicians and loyalists who lacked integrity to move the country forward”.
Only time will tell.
<h3>The Faces Of Business</h3>
Babatunde Fashola: The former Govenor of Lagos State did a remarkable job in transforming Lagos over the past eight years. During his tenure, Fashola, a lawyer, boosted infrastructure and made Lagos safer. Based on his track record, Fashola could head the Ministry of Works or the Federal Capital Territory.
<img loading="lazy" decoding="async" class="alignleft size-medium wp-image-4159" src="/wp-content/uploads/2017/04/Babatunde-Fashola-001-240x300.jpg" alt="" width="240" height="300" />
Rotimi Amaechi: The former Govenor of Rivers State was instrumental in getting Port Harcourt back on track during the Niger Delta crisis by securing the city, attracting foreign direct investment (FDI) and developing infrastructure. While in Rivers State, he made education a priority. The Ministry of Education could be a good fit.
Kayode Fayemi: The former Governor of Ekiti State is considered an expert in policy formulation and will be seen as a great asset regarding policy direction and implementation. Fayemi, who has a doctorate in war studies, has also been seen next to Buhari in recent diplomatic visits. He may be chosen for the Ministry of Foreign Affairs.
<img loading="lazy" decoding="async" class="alignleft size-medium wp-image-4160" src="/wp-content/uploads/2017/04/Kemi-Adeosun-001-300x254.jpg" alt="" width="300" height="254" />
Amina Mohammed: She led the Millennium Development Goals (MDG) office in Nigeria. The UN later appointed her in a development capacity role. The Ministry of Health may suit her.
Kemi Adeosun: The former Ogun State Commissioner of Finance made a significant contribution to the development of the region over the past four years. With her background as a banker, she could get a financial position in the next cabinet.
Emmanuel Kachikwu: He was just appointed the Group Managing Director of the Nigerian National Petroleum Corporation. There is speculation that he will be named as a junior minister for petroleum resources, since Buhari made it clear he will manage the oil and gas sector himself.
&nbsp;

A President’s  Search For Political Saints

Elections in Africa tend to be associated with security and political risks. This year has seen a number of important national elections in sub-Saharan Africa. As several African countries take turns to go to the polls, individuals and organizations cannot afford to ignore the investment risk that comes with it.
For investors, political risk can simply be defined as the risk of loss due to changes that occur in a country’s government or regulatory environment. This could arise from the expropriation of assets, a new president or prime minister, a change in the country’s ruling party, or change in existing legislation or introduction of new laws.
It is well known that political stability is a prerequisite for economic stability; without it, policy initiatives and structural reforms can stagnate, decision-making becomes sluggish at best, and investor confidence begins to ebb as investors naturally seek safe havens for their investments.
Where there are high levels of unemployment, currency devaluation, an air of insecurity and political uncertainty, it is easy to become discouraged and anxious. Even though some of these situations are uncontrollable, you can be proactive about taking charge of your financial life and putting measures in place to minimize your risk.
To navigate the uncertainty that political risk presents, especially when important elections are coming up, try to familiarize yourself with the candidates, their political parties and their economic policies and plans. These may have a direct impact on your personal finances.
During periods of uncertainty, the natural tendency is to sit on the sidelines and stay out of the markets. Yet, uncertain times and volatile markets usually present opportunities for those who are well positioned to take advantage of them. For example, asset values, including stock, and real estate may sell below their true value as a country experiences capital flight.
Diversification is a tried and tested method for mitigating the effect of political risk. As the old adage ‘don’t put all your eggs in one basket’ reminds us, if you put all your money in one investment, your return will depend solely on the performance of that investment. Diversification spreads your risk across various asset classes, including cash, money market accounts, stocks and real estate as they tend to respond to market vagaries and financial conditions differently.
Beyond diversification across asset classes, consider diversifying assets across jurisdictions. Limit your exposure to single country risk by having a mix of domestic and international investments; that way even if the measures you have put in place to reduce your exposure to political risk prove to be inadequate, you have a better chance of limiting the damage to your portfolio.
It is not possible to avoid political risk altogether. Whether you manage your financial affairs by yourself or use the services of a professional, you are still susceptible to risk as all forms of investing come with a degree of uncertainty. You do need to familiarize yourself with the various risks associated with the markets in which you invest so that you can reduce your exposure by adjusting your investments as appropriate. Ultimately, you are responsible for your money.
For those that crave a level of certainty and predictability, the need for having a sound long term financial plan in place becomes more glaring than ever, and is key to financial security. If you stay focused on your goals, you are less likely to be swayed by market hype, volatility, inflation, devaluation, insecurity and political uncertainty and more likely to come out relatively unscathed when the climate begins to change.
&nbsp;
For more personal finance tips, follow Money Matters With Nimi on Twitter: @MMWITHNIMI and Facebook: MoneyMattersWithNimi

Political Risk And Personal Reward

He is the political cartoonist who was sued by his president and won. He has made a name for himself by being outspoken and critical and he’s not about to slow down.
Jonathan Shapiro has been publishing his annual collections of drawings in the Mail &amp; Guardian and Sunday Times newspapers for 19 years. In 2014, his book, It’s Code Red, features left-wing, overall-clad opposition party leader, Julius Malema, marching into South Africa’s Parliament on its cover. Inside, it’s a record of 12 months in a country weighed down by political scandals and high-profile murder trials. On page 87, however, is a ray of sunshine: an illustration depicting a conversation between two children – one white and the other black – discussing how far South Africa has come since the first democratic election 20 years ago. It’s playful and a bit silly and it sums up the man who draws South Africa’s news for a living.
“There is a difference between scepticism and cynicism. I am a sceptic and that means someone who reads between the lines and doesn’t take things at face value. The cynic doesn’t believe that anything’s good. I am not cynical about South Africa. I’m a patriotic sceptic,” says Shapiro.
“The whole idea of being a critical cartoonist is that my drawings will start a debate and hopefully something good can come out of that.”
Shapiro, known to those who read him as Zapiro, grew up in Cape Town and worshipped at the altars of Tintin creator Georges Remi and Charles Schultz of Peanuts fame. Pursuing cartooning as a career however was not on the cards and a teenage Shapiro enrolled in a seven-year architecture degree at the University of Cape Town (UCT).
“I lost confidence in my abilities and I didn’t think I could make a career out of being a cartoonist. I was lacking the vision to pursue my dreams.”
Shapiro’s university career in the late 1970s and early 1980s overlapped some of South Africa’s darkest years under the apartheid regime. His political views were progressive but Shapiro struggled to fit in with the student anti-apartheid movements which were simmering – and occasionally boiling over – at the university. Things changed in 1983 when Shapiro’s mother, Gabby, became involved in the political party the United Democratic Front and recruited most of her family to the cause within months.
Shapiro’s political awakening coincided with more time spent cartooning.
“The first time I did a political caricature was in my second year at varsity. The subject was the head of the architecture department at UCT. The picture showed the duplicity of his personality and the way he ran the department. He flew off the handle and that was when I first realized that my cartoons – these pictures that I drew – had a potential to be powerful. Definitely more powerful than anything my architecture work could accomplish,” he says.
Shapiro changed majors from architecture to graphic design after a month of backpacking through Europe as a fourth year student visiting, mostly unannounced and uninvited, the art studios where some of the world’s best loved comics such as Asterix were drawn.
“It was a shot in the arm. I came back to South Africa and told my parents I wanted to change my degree to graphic design. They were unbelievably supportive.”
Shapiro’s first fulltime cartooning job was at the now defunct South newspaper in 1987. He has spent almost three decades since then depicting the fall of apartheid, the country’s transition to democracy and the travails of the various presidential administrations.
“What gets me really down is when things get really bad politically and trying to find the glimmers of hope is not easy,” he says.
His cartoon depicting the rape of Lady Justice – a metaphor featured repeatedly in his work – by President Jacob Zuma was met with outrage by the ruling party and many members of the public. Shapiro’s only concern around the picture’s publication was that it may be interpreted as insensitive to women.
“Critical cartooning is the foray into the taboo as well as the pushing and the prodding which breaks down boundaries and creates discourse in society.”
Shapiro’s work is increasingly critical of Zuma – who has been immortalized into South African consciousness as ‘shower head’ on account of Zapiro’s work.
“I am not anti-ANC but I am against the corruption and the complacency prevalent in the ruling party. It is actually unbelievable to do cartoons in this environment because you become part of the moment, part of that political discussion.”
Shapiro works from a home studio in Cape Town. He has no plans to give up cartooning and doesn’t anticipate running out of material in the foreseeable future.
“Sometimes reality in South Africa is weirder that anything I could ever dream up.”

The Satirical Thorn In  The President’s Side

For most of 2014, Thuli Madonsela’s name has been kicked around the political scene like a tin can.
The fight between her and the South African government is all about Nkandla – the private home of South African President Jacob Zuma that sits on a vast tract of land. It cost over R200 million ($18 million) of, supposedly, taxpayers’ money to renovate. The president claims to have taken out an R800,000 ($71,000) loan for the purposes of the renovations. Besides the thatched huts built for his family and the beautiful landscape of the KwaZulu-Natal province, its best feature, by far, is what has become known as the ‘fire pool’. It has been explained away by his spin doctors, for it is not a recreational swimming pool but a water reservoir in case of fire.
Who would be bold enough to investigate these allegations against the head of state? That woman is public protector Madonsela.
“I don’t see it as me versus the government, it’s my team versus maladministration. For any government, if they want to govern in perpetuity, maladministration is an enemy because your ability to govern, or the authority people give you to govern, is withdrawn one piece at a time if there is maladministration,” she says.
The investigation began in December 2011 when a citizen lodged a complaint to the public protector’s office regarding how the country was spending its money. A few months later, another citizen lodged a complaint against the president, under the Executive Members’ Ethics Act, accusing him of using money he was not entitled to. Madonsela had 30 days to respond.
“Firstly, when the complaint was made, I didn’t think that it was going against the president because procurement is not a presidential matter. So at no stage did I think there would be any direct involvement with the president.”
The public protector’s office compiled information from the ministers, some of whom were also under investigation. The investigation team began asking harder questions, which raised a few red flags.
“The minister of police said he was going to give us information, so we were expecting it. Then he said when he comes back from his honeymoon, he will give us the necessary information. When he came back he wrote us a letter saying that he doesn’t understand why we were doing this investigation because as ministers they have everything under control and they are investigating [the matter].”
“In reality most of the cases that take our time on a day-to-day basis are from ordinary people, who are just grappling with being denied one or another service. Usually people who are struggling with an ID or permanent residence, people who are struggling with a grant and also people who have been unfairly treated in employment situations in government and who can’t go to the CCMA, or can’t go to the public service commission, or who would go to those but the service processes take forever.”
The frenzy has thrust Madonsela in the public eye. Many people expect her to be a loud and aggressive woman.
“Some man once saw me and he seemed almost disappointed in meeting me, we were doing a walk about the mall and he said to me, ‘Oh aunty you’re just a little girl, I thought you were taller.’ Then I said to my team, ‘He always made me feel guilty that I’m not taller,’” she laughs.
In her spare time, when she’s not flexing her muscles, she enjoys reading magazines and listening to classical music. At home, she jokingly admits, her children often remind her that she is not the ‘PP’, but simply mom.
“I think other people fear for my family more than I do. My view on it, and this is the view my team takes, is that if anyone wanted to do anything wrong to me they would have done it at the early stages of this investigation. You don’t let the investigation complete and then you want to do something to someone because what would that achieve?”
After her term in office, Madonsela has set her sights on writing.
“When I finish, for a year or two, I would like to focus on writing, writing about the potential of this office [of the public protector], not just for South Africa, but for Africa and the world. It has enormous potential, but it’s not fully known, understood and exploited because it’s an office that has potential for transformative work.”

The Tiger On The President’s Back

Its economy, political arena and society are in crisis mode. Abuja, its capital city, and other sections of the country are increasingly making headlines for the wrong reasons.
Meanwhile, representatives of Nigeria’s youth, political, traditional, religious, civil and business society are currently in a national conference (Confab) in Abuja. Their task over their three-month tenure: discuss salient national issues and recommend the way forward.
The most critical issue has been the dearth of safety and security in the land. On this point, a member of the Confab and former inspector general of the Nigerian Police Force, Muhammadu Gambo Jimeta, laments the failure of previous administrations to provide altruistic leadership.
“The country is sick, otherwise how will people organize themselves and kill innocent students, how could people gather together and rob, how will people gather together to vandalize pipelines? It means the central system is sick and that is national security,” he says.
The country’s defense budget ballooned from $625 million in 2010 to $6.25 billion this year.
Military muscle has however failed to curb the increasingly sophisticated insurgent group. Anecdotal evidence even suggests that some of this cash has fueled the crisis. The class of the impoverished community continues to outnumber the elite factions of society. Poverty afflicts more than 60% of Nigerians &#8211; around 100 million Africans. Twenty four percent of Nigeria’s employable population is effectively unemployed; for those between the ages of 15 and 24, it surges close to 40%.
Africa’s most populous nation is currently engulfed by a lack of social values. Homegrown terror gangs and Islamist insurgents ravage parts of northern Nigeria and violent criminals now roam through southern states, mostly outside Lagos, at will.
Nobel laureate Wole Soyinka has declared that Nigeria is essentially at war. Many who find this statement alarming struggle to disagree with the famous poet, playwright and ex-political prisoner.
In March, suspected members of the militant group Boko Haram executed a commando style operation to rescue their cohorts held in the Abuja cells of the Department of State Security, which is located within view of Aso Villa, the Nigerian president’s residence.
In April, economic analysts and pundits pontificated on the effects of the country’s rebasing exercise when terror struck again. Within one week, more than 200 girls were abducted by faceless rogues from a school in Chibok, in the north-eastern Borno State. In Nyanya, a densely populated district on the outskirts of Abuja, an early morning rush hour blast in the motor park killed more than 100 people and maimed many more.
Interestingly, the horrific situation has not halted progress on the quest to diversify the domestic economy. Apparently positioning for the long term, companies like Huawei, General Electric and IBM continue to ramp up their commitments and workload with Nigeria’s business, public, academic and scientific communities. Jim O’Neill, former chairman of Goldman Sachs Asset Management has invested some of his cash in Paga, a leading mobile payments service provider which has more than 1.3 million individual and 1,350 business clients.
While the nation’s image abroad continues to take a daily bashing, the paradoxical positives also need highlighting. GDP growth for the period between 2013 and 2015 is expected to hover between 6% and 7%. Ongoing reforms in power and agriculture look set to boost productivity. The fortunes of the capital market should be boosted by long term bond financing. Some sectors – telecoms, e-commerce, hotels, retail, real estate and construction – will continue to boom thanks to Nigeria’s head count. With a population of 167 million; consumer spending well in excess of $100 billion each year, and a fast growing middle class, Nigeria is definitely a promising African destination for business. According to the Ministry of Industry, Trade and Investment, more than $1.3 billion in fresh investments has come into the formal retail space over the last three years.
No doubt, a state of insecurity will continue to stunt domestic economic growth and attenuate the much needed peace of mind required for deep rooted investments. Poor governance has bred this terror monster. A crazily expensive, parochial and unprogressive political culture will continue to breed a heated and ignoble socio-economic landscape.
Being the 26th largest economy in the world will mean little to the hundreds of families still searching for their daughters in the forests of northern Nigeria.

The Economics Of Painful Politics

When South Africa marks 20 years of democracy next year, it will not be alone in celebrating. Wiphold, Women Investment Portfolio Holdings, will also mark 20 years of existence as the country’s first women-owned investment company.
In the early 1990s, after winning the political battle to ensure all South Africans had equal rights, the country’s leaders had to deal with an important challenge: how to include black South Africans meaningfully in the economy.
Louisa Mojela, Wendy Luhabe, Nomhle Canca and myself founded Wiphold to make sure that the women of South Africa were not excluded from this life-changing conversation.
Our women political leaders had done their best to ensure that gender rights featured in the Constitution. However, as a worldwide phenomenon, big business does not seem to be comfortable including women in executive discussions.
When we founded Wiphold, my colleagues and I were well aware of the challenges involved in including women in the mainstream economy.
Using our rare, privileged position, championed by the South African government’s policies, we deliberately tried to rearrange boardroom conversations all over the world.
Over the past two decades, I think it is fair to say that Wiphold has met its ambition of being a force to be reckoned with. The company is fully entrenched in its chosen industries: financial services (Old Mutual and Nedbank); coal mining (Sasol) and infrastructure (the construction of a cement plant). Wiphold has also left its mark on consumer goods and services, and on tourism and leisure. While there were many highlights during this 20-year journey, some experiences stand out as particularly memorable.
When we started out, we needed seed capital of $50,000. For young professionals from not-so-rich backgrounds, this was a lot of money, and family and friends came on board to help us. I remember that my young brother-in-law, Lazzy, who had just started his law articles, delayed buying himself a car in order to loan me $500.
Early on, when the South African government introduced Black Economic Empowerment (BEE) legislation to include black South Africans in the white-dominated economy, Wiphold approached a gold company. We offered ourselves as a unique BEE partner, trading on the fact that women are known consumers of gold. The CEO was impressed with our presentation and kindly offered us a rose garden project, which the company had undertaken as a corporate social initiative. We have never forgiven him.
Another BEE company was so impressed with Wiphold, that it offered us a merger. This was very flattering, except that the company had an Net Asset Value of almost $500 million, while Wiphold’s was a mere $3.5 million in comparison. It would seem that we were a nuisance that needed to be removed from the BEE playing field.
Perhaps the highest point in my career is when Wiphold listed on the Johannesburg Stock Exchange in 1999. It was the first women-owned company to do so; further proof that we were pushing the boundaries.
Another high point was Wiphold’s decision to build a cement plant. Construction is traditionally a man’s domain – it is no rose garden – and I am proud that our company is comfortable enough to enter the sector.
Over the years, there have also been disappointments. A continuous frustration is what I see as women’s lackluster efforts to carve out a space, to coexist alongside men, in the world of business. I see it happen time and again here in South Africa and elsewhere in the world. We are not getting the traction we believe we deserve – and there are plenty of reasons why not.
It is not enough to complain that our male counterparts are not taking us seriously. In the end, this is a fight for survival, for women’s economic and financial independence. When it is successful, it translates into more harmonious relationships with men, free of financial dependency.
In the South African context, women have battled long and hard for emancipation – some have even given their lives in the fight for equal rights. The next phase is economic emancipation – and it is impossible to argue that there are no opportunities or a lack of economic platforms on which to do so.
As a pioneer in South Africa, Wiphold did not have the luxury of failing. The burden of the next generation of women entrepreneurs was on our shoulders. Success and excellence were not optional, but necessary.

How Gloria cracked the

On a snowy April day, Nelson Mandela was sipping tea in London, surrounded by his political entourage. This was minutes before he was to climb onto the stage for a concert to be broadcast to 600 million people in 67 countries: the biggest audience for a music concert. Just 54 days before, he had been a prisoner.
Mandela was still a marked man. British security forces feared a sniper would shoot him while he was on stage. Everywhere he went, police locked and unlocked behind him to make sure a gunman could not sneak a shot.
As Mandela climbed the narrow staircase to the stage, with the crowds chanting his name, alongside promoter Tony Hollingsworth, he asked to turn back to use the toilet. When Mandela and Hollingsworth had washed their hands, they found out, to their horror, that the police had, unwittingly, locked them in.
“They’ve taken all the entourage and Trevor [Huddleston] onto stage highly secured, and left me and Mandela, I thought ‘oh shit’. It’s a locked room and my bloody headset wasn’t on. So I couldn’t talk to anyone,” says Hollingsworth.
There was no time to waste. Hollingsworth went to bang on the glass.
“I could see into another room, which was where they were counting all the money. I patted in the door until somebody recognized me. They came and unlocked the door. We walked through the money room to a public area, down a public staircase in the stadium, into the backstage area, onto stage. And the security forces didn’t even know we had gone. They were all watching the audience,” he says.
Minutes later, Mandela strolled on stage as if nothing had happened.
“Thank you that you chose to care,” Mandela told the world.
“When Mandela came on stage, the audience erupted. What then ensued was this almost eight minute game, of this crowd cheering at him as he moved around waving his arms. The problem was that because he was unused to the power of the microphone. In his mind, he had to wait for people to be quiet before he spoke,” says Hollingsworth.
Mandela’s speech lasted 45 minutes, ridiculously long according to Hollingsworth. He paid an American consultant—to trail Mandela after his release—to teach him how to speak on television. The consultant didn’t get anywhere and gave up.
Hollingsworth sits across the table, in a Johannesburg hotel, lost in the memory of that day. The man sports a shock of grey hair. It was 25 years ago, to the day, that as a 30-year-old he produced the first of two concerts, both of which would go down in history.
Hollingsworth came from a musical family. He began his career building ejector-seats for jet airplanes, but quit after three months to study theories of ideology at the Open University. His cousin was the orgainzer of the world famous Glastonbury Festival and during a visit one summer Hollingsworth cut his teeth promoting a traveling Moroccan band.
He whet his appetite by staging concerts for the Greater London Council called ‘Jobs for Change’. His speciality became selling ‘issues’ on stage and when musician Jerry Dammers, the writer of the song Free Nelson Mandela, put forward the idea of an anti-apartheid concert, he was in.
Hollingsworth approached Archbishop Trevor Huddleston and Mike Terry, both anti-apartheid activists. It took some convincing.
“Fifty percent of the newspapers at that time reported Mandela as a black terrorist leader, that’s the label he had been given,” he says.
Hollingsworth went to conservative broadcasters with an idea of a concert for Mandela’s 70th birthday.
This was a time when Margaret Thatcher, prime minister of Britain, was calling the African National Congress (ANC) terrorists. The atmosphere was so charged that many of the performing artists asked for a clause in the contract to ensure that the money raised would not be used to buy guns. At that time, the ANC was embroiled in an armed struggle.
“The broadcasters asked, ‘Is it for the ANC?’ and I would say, ‘No.’ ‘The anti-apartheid movement?’ ‘No. I am doing it for Nelson Mandela’s birthday.’ Half of those people winked back. I had given them the legal solution… the other half went along in innocence.”
The media lapped it up. Especially once Dire Straits, the largest selling act in the world in 1988, signed up. In just four months the word terrorist disappeared from the news, says Hollingsworth, once broadcasters accepted that they were to air an 11-hour show about Mandela.
Then, came the crossfire.
“The ANC were furious that I was putting this event on without calling for sanctions or resistance. There was an intense, difficult time running up to it. Because they weren’t to know,” he says.
It all led up to June 1988 and a packed Wembley Stadium, where Mark Knopfler took the stage with his band Dire Straits. South Africa had banned Knopfler in 1979, after he channeled his profits from South African sales to Amnesty International.
“He was a very shy man… Mark had played a few numbers, and said to the audience, ‘Our records were banned in 1979. I am very pleased to say, this is for the man in question, this is the best birthday party we have ever been to, thanks for having us. This is the guy who launched it all for us,” says Hollingsworth.
Among the musicians on the night, was a lone, unknown, American with a guitar—Tracy Chapman.
“The song that she sang for the event, that worked completely. She sang Talkin’ Bout A Revolution. That’s what the event was like. All of the run up to it, to this trojan horse policy, to a man, that was the whisper,” says Hollingsworth.
Chapman played two sets on the night, the second by sheer luck.
The production manager ran up to Hollingsworth and shouted in his ear: “Stevie Wonder cannot go on. The equipment is gone.”
Hollingsworth didn’t even know what he was talking about. Wonder walked off the stage into the parking lot in tears because his music harddrive was lost. Hollingsworth was left with 23 minutes to fill.
“The only person who could go on stage, with no equipment was Tracy Chapman. I grabbed her manager Elliot Roberts, who discovered artists like Neil Young and Joni Mitchell, and shouted in his ear, ‘Tracy must go back on.’ He was delighted.”
Roberts grabbed Chapman with one hand and her guitar in the other and walked her on stage without telling her what was going on. Chapman sold two million albums in the next two weeks.
“Tracy blew my mind. About 90% of people will remember her. When she came on and sang, it was like wow. She really captured the feeling in her songs. She was unforgettable,” recalls Nicholas Wolpe, who was 20 at the time.
Wolpe, the son of anti-apartheid activist Harold Wolpe, was given a ticket by the ANC.
Stevie Wonder did come back to play, without his harddrive, to a roaring crowd. He sang I Just Called To Say I Love You.
“I recall the people sitting next to me were not necessarily there for Nelson, but for the music. The principal was to highlight Nelson’s birthday, rather than imprisonment. But it achieved that. As more and more people came out on the stage to talk about Nelson, there was this gradual shift. I think people were swept up with the euphoria. It became an incredibly emotive day,” says Wolpe
Mandela was elected South Africa’s first black president in 1994. Hollingsworth, the man with whom he was locked in a toilet, produced more concerts around the world, including the 850th anniversary of Moscow’s Red Square, in 1997.
You can argue that these were merely two among the millions of lives changed by June 11, 1988.

Talkin’ Bout A Revolution…  It Sounds Like A Whisper

Just how much is the South African government interfering with the operations of the country’s major mining groups through undue political pressure to save jobs at all costs?
The question has to be asked after the climb down by Anglo American Platinum (Amplats), in May, over its restructuring plans to cut 14,000 jobs. The company bore the brunt of a full-scale political assault and subsequently revised its plans to cut 6,000 jobs. There is also speculation that AngloGold Ashanti (AGA) had been denied permission by government to restructure its South African mines into a separate unit.
The bottom-line is that this level of interference could hurt both business prospects and share prices.
In the case of Amplats—the world’s largest producer of platinum—interference by government risks are not only keeping the group’s working costs higher than they should be, but also prolonging the oversupply in the market.
That is because the South African mines, which account for more than 75% of world platinum production, are being hampered in their actions to chop back on uneconomic output and so reduce the metal surplus, which is holding the platinum price down.
Holding platinum prices lower for longer would affect the entire platinum industry and not just Amplats.
The point was made clearly by GFMS research director, Will Tankard, in the consultancy’s 2013 Platinum and Palladium Survey.
Tankard says the platinum market was in a delicate position with any production recovery in South Africa likely to be very restrained. He expected mine supply to rise by “a small two percent provided restructuring is allowed to take place”. The situation on the gold mines is not as crucial for the gold price because the days when South Africa dominated the gold market, as the world’s largest producer, are long gone.
Investors would dearly love to know if the South African government blocked a proposal by AGA to separate its South African operations from its international ones, after allowing Gold Fields to go ahead with such a restructuring in February.
Newly appointed AGA CEO Venkat Venkatakrishnan is not telling.
“That’s market speculation and we never comment on market speculation,” he says.
That was in reply to questions at the group’s presentation in May, regarding its March quarterly results, which stated that AGA was reviewing its assets and that there might be another asset sale later this year.
Venkatakrishnan also drew attention to the poor response from investors to Gold Fields’ decision to split off its high-cost South African mines into separately listed Sibanye Gold, although he did not mention Gold Fields by name.
Assuming that AGA tried to split off its South African operations there is an immediate question: Why was it blocked but Gold Fields was able to carry out its restructuring with minimal hassle?
There are various reasons for that according to Gold Fields CEO, Nick Holland. He reckons it could have depended on the kind of restructuring AGA was trying to do, although he stressed that he also did not know whether AGA had approached government for permission.
“It all depends on what kind of deal AngloGold might have proposed. With Sibanye, we made sure we left those assets with plenty of financial juice and put them in a position where they could finance their own future growth. We were very sensitive to the issues around ensuring the sustainability of those assets into the future,” says Holland.
Holland added that Gold Fields had one major advantage in that the mines which the group formed into Sibanye—Kloof, Driefontein and Beatrix—were already housed in a separate company within the Gold Fields corporate structure, apart from the group’s foreign operations.
That restructuring was carried out a decade ago when Mvelaphanda Resources became the BEE partner for Gold Fields’ South African operations.
“As a result we did not need to get a whole lot of regulatory permissions to do the deal,” says Holland.
But Holland described undue interference in the mining sector as a hot potato, saying that restructuring of the industry and the way it does business was essential for its survival.
Last year, Holland reckoned the South African gold industry would largely cease to exist within five years, unless major changes were made to improve productivity.
“We are going to go down the slippery slope, that much quicker, if government does not listen to the industry,” he says.

Slithering Down  The Slippery Slope

Perched on a stool with a spotlight sculpting her fine face with light and shadow, Nneka strums her guitar and melancholically sings lyrics with both religious and political undertones.
“Your phrases are highly majestic, I am amazed by your great linguistics, yet your words are placed together, to sell dubious manifestoes,” says Nneka.
The audience sits in silence as the stars shine in the dark sky spanning above the auditorium in the Ghanaian capital of Accra.
Tonight, Nneka casts a fragile form—her signature sprawling afro is pulled back, her diminutive figure is shrouded in layers of grey, and she is awkwardly reticent throughout the performance. But if Nneka’s music has a central theme it is that appearances can often be deceptive. The German-Nigerian singer’s delicate beauty and soft voice belie the anger, the confusion and sense of injustice threaded throughout the lyrics of her songs.
For the past two years Nneka has been touring Europe, East Africa and her motherland to promote her third album Soul is Heavy, which was released last year . Written and recorded over three years in her home city of Lagos, the album is both thematically and stylistically eclectic with reggae, hip-hop, soul and afrobeat influences. Her songs address corruption, neo-colonialism and oppression, as well as more introspective matters of the heart and soul.
Nneka has made her way from being a little-known singer-songwriter to an internationally acclaimed artist who has toured with the likes of American singer Lenny Kravitz and New York rapper Nas. But gaining recognition in her homeland was difficult, at least until her big break in 2010 when she performed her hit single “Heartbeat” on the David Letterman Show and later appeared on CNN.
“Before Letterman, before CNN nobody wanted to hear my stuff in Nigeria. It was quite difficult for people to relate to my music because the topics are quite heavy: I talk about corruption, I talk about hypocrisy and things that I deal with on a daily basis that we Africans and Nigerians deal with on a daily basis. Many people are very scared of facing those issues they would rather you entertain them,” she tells me during an interview at a restaurant in Accra.
Nneka says the popularity she gained in Nigeria, due to her overseas success, was an example of the “colonial mentality”, which is still pervasive throughout Africa.
“It’s an inferiority complex that we are not very aware of. We are really not proud of ourselves.”
But the singer says that while Nigerians are often drawn to the shiny and superficial; “political” music is becoming increasingly popular in Nigeria, as shown during the Occupy Nigeria protest movement last year, which was sparked by the removal of fuel subsidies and inspired by the Arab Spring.
“There are lots of musicians and artists who are becoming more conscious about their surroundings and courageous in speaking out their minds, when it comes to speaking out about our state and our condition and the system,” says Nneka.
While the singer describes her homeland as divided and corrupt, she says the Occupy Movement, at which she performed, gave her hope that things in Nigeria can change.
“A demonstration like that hasn’t been done in my lifetime. It was a peaceful demonstration—people of different tribes gathered, Christians and Muslims were praying together. Seeing so many people in one place having the courage to speak their minds helped connect us amongst ourselves.”
The artist was inspired by the pain and injustices she saw in Warri in the Niger Delta, a city where economic division and ethnic conflict are rife.
“When you grow up in that area, you either become a militant or maybe a musician. There is so much grief and tribal war and so much conflict,” she says.
But Nneka says Nigerians continue to hold on to the hope that their country can change and that some kind of revolution will take place in the future.
“We need proper leadership, selfless politicians who are not in power looking to profit, we need government to be more concerned about the youth and we need more rich people that are concerned about the poor.”
On what inspires her creatively, Nneka is endearingly bumbling and inarticulate. She cites spiritual figures such as Gandhi, Jesus and Saint John the Baptist and iconic African leaders like Thomas Sankara, Kwame Nkrumah and Patrice Lumumba, as figures who have informed her ideas and lyrics. Like these great men, Nneka sees herself as a spokesperson of the poor and the oppressed.
“Seeing the many people who are sick in the Delta due to the pollution, and the deaths… being from that area alone has made me into who I am. I feel it is my responsibility to be the voice for those who don’t have the courage,” says Nneka.

Nigeria’s Nightingale

Over the last 50 years, Africa has gone from colonialism to a continent on the verge of political and economic transformation. Despite the financial crisis, Africa has been growing at an unprecedented rate—rekindling optimism. Across the continent, there is now a greater sense of seizing the day. What does the next 50 years hold for Africa?
Well, the next half century offers good prospects for realizing a dynamic, diversified and competitive economic zone in Africa in which extreme poverty is eliminated within peaceful, stable and vibrant societies. It will see the transformation of fragile economies into more robust and developed markets, which will create opportunities for the poor.
Recent evidence shows that economic growth in Africa is generally strong: fuelled by business-friendly policy reforms; favorable commodity prices and an improvement in peace and security. African Development Bank (AfDB) estimates suggest that both Gross Domestic Product (GDP) and GDP per capita will increase steadily throughout the period 2010 to 2060. By 2060, most African countries will attain upper-middle income status.
In the most positive of scenarios, the AfDB estimates that Africa’s GDP could increase to more than $15 trillion in 2060, from a base of $1.7 trillion in 2010. Consequently, income per capita should grow from $1,667 in 2010 to more than $5,600 by 2060. The projected breakdown of GDP by sub-region indicates that North Africa will continue to post the highest income per capita. However, East Africa is likely to show the strongest growth performance, reaching 9.3% in 2030. By 2060, the sub-region will have a per capita income 10 times higher than in 2010.
One of the outcomes of Africa’s strong economic growth, in the past two decades, has been a significant increase in the African middle class, defined as earning between $4 and $20 per day. The middle class will continue to grow from 355 million (34% of Africa’s population in 2010) to 1.1 billion (42%) in 2060. Poverty levels are expected to fall, with the proportion of the population living on less than $1.25 a day declining from 44% in 2010 to 33.3% in 2060.
In the decades ahead, Africa’s growth prospects will be heavily influenced by trends in labor availability. The continued rapid growth of the economically active population, that is men and women aged between 15 and 64, at an average of around 3.5% per annum will lead to an increase in Africa’s working-age population to around 1.87 billion; around 74% of Africans will be of working age.
By 2060, life expectancy in Africa is projected to reach 70 years, compared to 56 years in 2010. North and East Africa are projected to have the highest life expectancy with 80 to 83 years, compared to the much lower 55 years in Central Africa. HIV/AIDS remains Africa’s bugbear. HIV prevalence rates are expected to decline from 2.1% in 2010 to 1.4% in 2060.
With respect to literacy rates, the current trend of rising rates is projected to continue, reaching around 96% in 2060 against 67% in 2010.
For Africa, the next 50 years are likely to be shaped by three major global forces: the changing structure of global trade; new trends in technology and the international architecture governing trade, finance and development assistance.
Africa faces three drivers of change related to its physical environment: firstly, climate change; secondly, the continent’s renewable and non-renewable natural resources and lastly, the continent’s land and water will come under increasing pressure.
Three human conditions will impact Africa in the next 50 years: a delayed demographic transition; the burden of AIDS and land access and tenure.
By 2060, several changes will have transformed the opportunities and challenges facing Africa in at least six dimensions: urbanization will accelerate; migration will increase and agriculture may well decline. How economies in Africa respond to these challenges will depend on the choices they make. Countries need to respond by investing in their cities, managing migration, transforming agriculture, managing their natural resources and making concerted efforts to break in at the bottom of the global market in goods and services. Action—by Africans, in the form of deeper regional integration, and by the international community, on trade and aid—must support the efforts of African countries.

Tag: Political

FORBES AFRICA SOCIAL MEDIA

The Fight Over Statues Never Stands Still

A President’s Search For Political Saints

Political Risk And Personal Reward

The Satirical Thorn In The President’s Side

The Tiger On The President’s Back

The Economics Of Painful Politics

How Gloria cracked the

Talkin’ Bout A Revolution… It Sounds Like A Whisper

Slithering Down The Slippery Slope

Nigeria’s Nightingale

We Will Live Longer And Be Wealthier by 2060