A notable shift seems to be taking place in Egypt&#8217;s economic strategy in a new era of collaboration with several regions in sub-Saharan Africa (SSA). And the country’s banks such as CIB (Commercial International Bank) are playing a part in this transformative journey.



“Kenya made sense. East Africa is close to Egypt, the language is similar, and Kenya is the gateway.&nbsp; The Kenyan market is one of the most advanced digitally and digital is the perfect way to, with a controlled investment, grow a large footprint quickly,” says the bank’s Managing Director Hussein Majid Abaza.



In April 2020, CIB initially acquired a 51% stake in Kenya&#8217;s Mayfair Bank, subsequently completing the buyout in 2023 and rebranding it as CIB Kenya.



As Egypt remains resilient amid political unrest, security concerns, and fluctuating tourism numbers, CIB has maintained its annual growth.



The introduction of CIB Kenya could herald an era in which Egypt is seeking to foster trade partnerships. The bank&#8217;s niche lies in facilitating exports and it will seek to grow business links between the two countries such as with tea, where Egypt is the second-largest market for Kenyan tea exports.



Egypt&#8217;s commitment to the African Continental Free Trade Area (AfCFTA) is also a pivotal move that aligns with the broader vision of a unified African market. After ratifying the AfCFTA protocol in 2019, Egypt, under President Abdel Fattah al-Sisi’s leadership, chaired the Common Market for Eastern and Southern Africa (COMESA) from November 2021 to June 2023.



Trade liberalization initiatives and investment trade missions have underscored Egypt&#8217;s commitment to opening new markets on the continent. The country’s trade dynamics seem to show its resilience and adaptability, with the country emerging as a leading exporter to COMESA countries in 2022, reaching $3.4 billion.



“The continent is the right place to be; it is where growth is, and where growing populations are,” says Abaza.



CIB&#8217;s strategic foray into Kenya serves as a microcosm of Egypt&#8217;s larger ambitions for Africa. By leveraging its financial expertise towards new cross-border acquisitions, Egypt seems to be not only strengthening its economic ties with East Africa but also fostering innovation through the exchange of fintech ideas and talent through extensive banking analyst training programs in East Africa.



While Egypt&#8217;s influence within COMESA is expanding, these figures also underscore the vast potential for further development. In comparison to the global trade landscape, with the value of Egypt’s exports sitting at $51.6 billion in 2022, there is still considerable ground to cover in integrating SSA into Egypt&#8217;s global trade chain.

Panorama of Cairo

Egypt’s Pivot Towards Sub-Saharan Africa And Strengthening Economic Ties

Following a year of increased remittance flow in sub-Saharan Africa, the World Bank anticipates further growth this year. Nevertheless, challenges and issues requiring attention accompany this projection.



In its latest Migration and Development Brief titled Remittances Brave Global Headwinds with a Special Focus on Climate Migration, the World Bank projects a 2.5% growth in remittance flows to Nigeria, Ghana, and other sub-Saharan African countries this year. Remittance flows to the region are anticipated to have risen by approximately 1.9% in 2023, reaching $54 billion. Notably, remitting $200 to sub-Saharan Africa incurred an average cost of 7.9% in the second quarter.



Nigeria, as the largest remittance recipient in the region, is expected to receive over $20 billion in official remittances by the end of 2023, marking a slight increase compared to the previous year. Remittances to Nigeria, constituting 38% of the region&#8217;s total, grew by about 2%, while Ghana experienced estimated gains of 5.6%. The growth trend extended to other nations, including Mozambique (48.5%), Rwanda (16.8%), Ethiopia (16%), and Kenya (3.8%).



Despite the 3.8% growth in remittances to low- and middle-income countries (LMICs) in 2023, a moderation from previous years, the World Bank expresses concern about the potential decline in real income for migrants due to global inflation and low growth prospects. Remittance flows to LMICs, estimated at $669 billion, have been resilient, supported by stable labor markets in advanced economies and Gulf Cooperation Council (GCC) countries.



However, the World Bank forecasts a further softening in the growth of remittances to LMICs to 3.1%, driven by slowing economic growth and weaker job markets in high-income countries. Additional risks include volatile oil prices, currency exchange rate fluctuations, and the possibility of a deeper-than-expected economic downturn in high-income nations.



Iffath Sharif, Global Director of the Social Protection and Jobs Global Practice at the World Bank, emphasizes in a statement the importance of inclusive labor markets and social protection policies for migrants, whose remittances act as a vital lifeline for developing countries.



“During crises, migrants have weathered risks and shown resilience to support families back home. But high inflation and subdued global growth is affecting how much money they can send,” notes Sharif.



The Remittances Prices Worldwide Database reveals persistently high remittance costs, averaging 6.2% to send $200 in the second quarter. Banks remain the costliest channel for remittances (12.1%), followed by post offices (7%), money transfer operators (5.3%), and mobile operators (4.1%).



Dilip Ratha, lead economist and lead author of the report, advocates leveraging remittances for private capital mobilization to support development finance, particularly through diaspora bonds. Ratha explains that “remittance flows to developing countries have surpassed the sum of foreign direct investment and official development assistance in recent years, and the gap is increasing”.



Nigerian investor Moses Adeolubodun views this development as a positive signal for investment opportunities within the region.



&#8220;I believe that this upward trajectory is a testament to the resilience and potential of these economies. The growth further signifies a positive economic outlook, and as an investor, I see promising opportunities for strategic investments,&#8221; Adeolubodun tells FORBES AFRICA.



Although acknowledging the challenges highlighted by the World Bank, Adeolubodun remains confident in the long-term potential of sub-Saharan Africa, emphasizing the importance of diversified investment portfolios to navigate economic uncertainties.



&#8220;Fostering an environment conducive to remittance growth is essential for sustainable economic development. This is an opportunity for governments and businesses in sub-Saharan Africa to explore innovative solutions that attract foreign investments and support economic growth,&#8221; says Adeolubodun.

Order whatever you need, anytime you need

‘Promising Opportunities’: World Bank Forecasts 2.5% Increase In Remittances To Nigeria, Ghana And Other Sub-Saharan Africa Countries

The Nairobi-based co-founder of Craydel, an online career guidance platform, speaks to FORBES AFRICA about its ambitions to democratize higher education and scale across Africa. But first, more on what sparked his entrepreneurial journey.



Manish Sardana is in the midst of a busy day, opening yet another office, a bigger one, in Nairobi’s upscale Westlands area when we catch up for a conversation on Craydel, the edtech startup he successfully co-founded in Kenya in 2021, at the height of the Covid-19 pandemic.



“Right now, we have five offices – three in Nigeria and two in Kenya – and about 70-odd employees and we are growing rapidly,” the platform’s 43-year-old CEO says about the growth of what was once “just an idea in his head”.



At a time when most startups are battling to survive and retrenching staff, Craydel is hiring rapidly and on its way to profitability in 2024, he adds. On the cards: expansion to more markets such as Ghana, Uganda and South Africa. The investors are keen and Sardana is optimistic.



“When you are building something that has a real vision trying to solve a real problem, you get people gravitating towards you,” says Sardana of his platform that dispels misinformation and biases for students and guides decisions on college and course selection.&nbsp;Craydel is building the tech infrastructure to empower African learners to search, match and apply to their best-fit higher education institutions.



In 2021, Sardana, along with his co-founders <a href="https://www.linkedin.com/in/john-nguru-38677638/?originalSubdomain=ke" target="_blank" rel="noreferrer noopener">John Nguru</a> and <a href="https://www.linkedin.com/in/shayne-aman-premji/?originalSubdomain=ke" target="_blank" rel="noreferrer noopener">Shayne Aman Premji</a>, secured $1 million for Craydel in a pre-seed round led by Enza Capital, a private venture fund that invests in early-stage tech startups across Africa. Subsequently, they secured another $1.5 million to grow the platform.



Craydel – a play on the word ‘cradle’ – &nbsp;hand-holds students wanting to pursue higher education – from graduation to post-graduation to PhD – at any point in their student or professional career. In fact, 50% of their postgraduate enrolments are working professionals looking for a career change, says Sardana.



The tech startup has 380 direct partnerships with universities so far and seeks to democratize access to tertiary education, in turn, addressing the low gross enrolment rate, of about 9%, in sub-Saharan Africa (SSA). This includes working professionals who have not been to college before, for want of access to capital and resources.



Two years in, Sardana says they have figured out the formula for success.



“We know that if you do X, Y and Z, you are going to be successful. That equation is very clear to us now.



We want to show that we can build a real unicorn out of Africa, creating real impact.”



But there’s a reason why Craydel may as well be on its way to savoring billion-dollar success in the future. Sardana has a track-record of building and scaling successful businesses from the ground-up.



His penchant for entrepreneurship had its humble beginnings in India, and followed him to Africa, a continent that he now calls home and one that has “given so much” to him.&nbsp;&nbsp;



“I owe it to Africa,” he explains of his mission to expand opportunities in education.



“One of the things I realized early on in life is to observe things around me… What I love is looking at ecosystems and how things work, and understand how it is broken, and use technology to disrupt that ecosystem. There&#8217;s also a theory I use, which is called ‘perpetuators versus agitators’; wherein perpetuators perpetuate an ecosystem because it benefits them, while an agitator can really shake this up from the outside and create a better, more efficient ecosystem,” says Sardana.



‘Serial entrepreneur’



His first tryst with entrepreneurship was at the age of 10. From a middle class home in Delhi – with three rooms and 16 family members – Sardana was born to parents who worked in the government and instilled in him a love for reading.



He engaged this by creating “a sharing concept or library with a common pool of books and comics from everyone in one place”, renting books out to friends and relatives. The venture failed, but not without him realizing how much he enjoyed the process of creating it. All through school and college, he found enterprising ways to make pocket money, becoming “a serial entrepreneur more out of necessity than anything else”.



His parents allowed him these entrepreneurial bouts, so long as he was going to top his class, study economics and go on to become a civil services officer. Whilst studying for an economics degree in Delhi University’s Hansraj College, Sardana was also teaching students. But disillusionment set in.



“I mean 90% of what I studied two years ago, I had no recollection of, and I could not see how that education was going to ever help me in life. And especially because I had kind of exposed myself to building businesses, I did not see any practical application of what I was studying.”



Along with a couple of friends, he soon set up his own publishing business – a college magazine in Delhi University that proved to be very popular on campus. He hustled, spending nights at the printing press and knocking on advertisers’ doors during the day, thumbing through the Yellow Pages directories and traveling across Delhi on his dad’s scooter. This was in the year 2000.



“My parents said I have got to stop this and do my master’s degree,” says Sardana. His mom filled out a form to the prestigious Delhi School of Economics. Some of India’s greatest economists such as Nobel laureate Amartya Sen and former Indian Prime Minister Dr Manmohan Singh have taught at the institution. &nbsp;



Sardana cleared the entrance exam, quite by default. “I really did not study for it. The only way I cleared the exam was because I was teaching my classmates and charging them money for it. So I would [conduct] private tuitions for my own classmates, and in the process of teaching them, I would kind of learn myself.”



Very soon, he realized it was all theoretical economics and he had no passion for it. It didn’t challenge him enough, so three months into the course, he quit.



After that, he tried to rekindle the magazine business but had to close it down. He also authored an economics textbook for class 12 students. A year on, he went on to do his MBA at the FORE School of Management and was subsequently hired by advertising agency FCB Ulka. Before long, he felt “jaded” in the industry doing marketing campaigns. But Sardana was also closely watching from the sidelines the big renaissance unraveling in India’s technology sector.



“That was in 2004-2005, the internet was coming up, Amazon was becoming a big thing and Google had come up. I saw the power of technology really changing and transforming ecosystems and got really excited about it,” he recalls.



After that, he worked four years in a successful edtech startup called Vriti, and the company managed to raise a total funding of $35 million.



“It was a lot of money at the time… Eventually, I sliced the part of the company I was running and set up as a separate company. I sold my company to a financial investor. So that was my first successful exit, which I was really happy about.



“And then, after seven years, I needed a break, I was very much done. Startups can also be an emotionally-draining experience, you know, especially when you are just married and have kids.”



A six-month break ensued, during which time he also helped his wife set up her bakery business, delivering her cakes door-to-door in their black Maruti Esteem car.



That was in 2014 when Sardana’s Africa rendezvous was just about to begin.



‘Owe it to Africa’



One of his former bosses who had been following his journey in the technology space told him about an opportunity in Africa with multinational communications company, WPP to focus on the digital marketing side of the business.



Within 10 days of receiving the offer, Sardana was on a plane to Kenya, his first trip outside of India. It took him three years to settle down, to understand the market and the consumers, and he was promoted to Managing Director for WPP-Scangroup in SSA.&nbsp; &nbsp;



He won a lot of business for the company but the entrepreneur in him was beginning to surface, again. He built a marketing automation platform called Optimus for the company, which is when he met and worked with his current co-founder and CTO, Nguru.



He presented the product to the board but it didn’t work. He presented it to one of their clients, Barclays in Kenya, and thereby to the bank’s leadership in South Africa, who were very impressed and gave him a chance to deploy it across their markets, which he calls his “first lucky break”.



“Once Barclays happened, you know, success creates more success. Suddenly, at WPP, the guys woke up!”



Sardana says Optimus was also deployed by leading African entities such as Kenya Commercial Bank, Equity Bank, the Old Mutual Group and Airtel.



The epiphany after that was inspired by his wife, whose bakery business was also doing well.



“She said to me ‘you know, you guys keep building all this sophisticated technology for large blue chip companies, but what about building something to help small businesses like us scale’?



“That was my first moment in Africa when I said, ‘okay, I&#8217;m making a lot of money for myself, am building a lot of wealth for my organization and for my clients, who are very rich people to start with, but we are really not doing anything of any significance, of impact, using our skill sets, and our insights for the large masses, the small business sector. If you understand Africa, it&#8217;s really run on the back of very micro SMEs.”



This led to the creation of Optimus Mini for small businesses. Eventually, that platform was called Goby – “the smallest fish in the world”. He explains the philosophy behind it.



“The big fish eat the small fish. So we wanted to empower the small fish to fight and compete with the big fish, by giving them access to all the technology and resources they needed. It was essentially e-commerce-as-a-service platform, allowing small entrepreneurs to upload their product pictures and prices, and it will set up an entire e-commerce shop for them online, integrated with payment gateways and logistics partners to deliver the products.”


<div class="wp-block-image">
<figure class="alignright size-large is-resized"><img loading="lazy" decoding="async" width="682" height="1024" src="https://cms.forbesafrica.com/wp-content/uploads/2023/11/Manish-Sardana-image-supplied-682x1024.jpeg" alt="" class="wp-image-60328" style="width:335px;height:auto" srcset="https://cms.forbesafrica.com/wp-content/uploads/2023/11/Manish-Sardana-image-supplied-682x1024.jpeg 682w, https://cms.forbesafrica.com/wp-content/uploads/2023/11/Manish-Sardana-image-supplied-200x300.jpeg 200w, https://cms.forbesafrica.com/wp-content/uploads/2023/11/Manish-Sardana-image-supplied-768x1153.jpeg 768w, https://cms.forbesafrica.com/wp-content/uploads/2023/11/Manish-Sardana-image-supplied-1023x1536.jpeg 1023w, https://cms.forbesafrica.com/wp-content/uploads/2023/11/Manish-Sardana-image-supplied-1364x2048.jpeg 1364w, https://cms.forbesafrica.com/wp-content/uploads/2023/11/Manish-Sardana-image-supplied-scaled.jpeg 1705w" sizes="auto, (max-width: 682px) 100vw, 682px" /><figcaption class="wp-element-caption">Manish Sardana; image supplied</figcaption></figure></div>


It really was just Nguru and Sardana developing it at that point.



“John is an exceptional technology guy, he&#8217;s amazing. I would come up with a product design, the user experience, the strategy, the business side of things and he would build the technology. Technology was always my handicap – I always regret not learning to code. I have all the stuff in my head but can’t build. I tell John he completes my handicap,” says Sardana.



In three months, they had 3,000 merchants signing up, deeming the platform a success. This was while they were still with WPP-Scangroup, when they had the reach, the capital and client access afforded by the company.



When Covid-19 struck in 2020, e-commerce took off and so did Goby. Leading brewer AB InBev approached them to sign on for “a B2B version of the product” to take orders online and deliver alcohol. Diageo, too, came along.



But the time had come for Sardana to go on his own, even if it meant giving up a lucrative salary and the comfort of a full-time job at WPP.



“Working with Manish was always magical, a journey into the future,” remembers Serah Katusya of that time, when she was the Managing Director at Mediacom, a sister agency at WPP-Scangroup; she is now the CEO of Belva and founder of WildMango.&nbsp;“He challenged and inspired with the same energy. He paved the way for many of us into tech, into thinking and building business solutions.&nbsp;He was definitely an agency leader decades ahead of his time.”



By the time he left WPP, Sardana had enough confidence in his abilities to build and scale real businesses. He wanted to build something in a very different space, specifically, in education.



“I think that was a very big inflection point in my life… that I was wasting all my knowledge, talent and experience building things for big companies, and I wanted to solve real problems on the ground. So that kind of gave me an exceptional amount of clarity… seeing the lives of ordinary Kenyans, doing fascinating things with very little resources and transforming their lives became a real thing.”



‘A cradle for young students’



Sardana’s research showed that there were government subsidies and funding for primary education but there was not a lot of momentum in higher education.



“The higher education infrastructure in sub-Saharan Africa is extremely weak. The problem is that in most schools, the career counselor is essentially a teacher with the least amount of workload…. This entire industry is run by agents who don&#8217;t understand career counseling; they essentially push students to universities, and make money.”



According to Craydel, more than 16 million African students spend $30 billion on higher education each year.



As a continent with the youngest population in the world, Africa presents tremendous opportunities in this regard, and Sardana was quick.



“We wanted to build a cradle for young students in Africa, for them to get all the nourishment in terms of the right advice, the career counseling, the psychometric assessment, and the right technology to get them off on their own feet.”



Whilst they were setting up the company, and during the pandemic, Sardana met Premji, the third co-founder, who is now Craydel’s CFO.



“Shayne is Canadian, but like me, stayed in Africa for 10 years. We stayed on the same street in Kenya but never knew each other. During the pandemic, he was changing houses, and walked into our apartment building. That&#8217;s how we met. He had a lot of experience in investment banking, and was doing extremely well in his career…



He is also impact-driven, so said he wanted to quit his job and join us full-time… he was extremely instrumental in raising our first round of a million dollars,” says Sardana.



For now, the trio is looking forward to what lies ahead. Their “vision and impact story” is shaping up.



“We&#8217;re in a good space now, and really excited about building this journey,” concludes Sardana, as he sets off to launch the company’s brand-new office, surely, one of many more to come.

Craydel co-founders John Nguru, Manish Sardana and Shayne Aman Premji; image supplied

‘We Can Build A Real Unicorn Out Of Africa, Creating Impact’: Kenya Co-Founder On Building An Edtech Startup 

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://www.forbesafrica.com/wp-content/uploads/2020/07/SDG-Media-1024x576.jpg" alt="" class="wp-image-46381" srcset="https://cms.forbesafrica.com/wp-content/uploads/2020/07/SDG-Media-1024x576.jpg 1024w, https://cms.forbesafrica.com/wp-content/uploads/2020/07/SDG-Media-300x169.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2020/07/SDG-Media-600x338.jpg 600w, https://cms.forbesafrica.com/wp-content/uploads/2020/07/SDG-Media-768x432.jpg 768w, https://cms.forbesafrica.com/wp-content/uploads/2020/07/SDG-Media-1536x864.jpg 1536w, https://cms.forbesafrica.com/wp-content/uploads/2020/07/SDG-Media.jpg 1600w" sizes="auto, (max-width: 1024px) 100vw, 1024px" /><figcaption>In 2018, the United Nations Secretary-General Mr António Guterres, launched an SDG Media Compact to leverage their resources to advance the Sustainable Development Goals. By disseminating facts, human stories and solutions, the Compact is a powerful driver for advocacy, action and accountability on the Sustainable Development Goals. Photo- UN</figcaption></figure>



When 17-year-old high school student Darnella Fraizer filmed the last minutes of <a href="https://www.youtube.com/watch?v=xvW6PLIDsbI">George Floyd’s</a> life under the knee of police officer Derek Chauvin, she could not have imagined that her footage would reignite the explosive global question of racial inequality and the subsequent clamour for reforms in policing.



This act of filming validates the force of the media globally, we need a similar drive for urgent action in Africa. We need the continent’s media to help ensure the Sustainable Development Goals (SDGs) are achieved and the life of every African afforded the opportunity they deserve.



“Around the world, success in achieving the SDGs will ease global anxieties, provide a better life for women and men and build a firm foundation for stability and peace in all societies, everywhere,” said the UN Deputy Secretary General, <a href="https://news.un.org/en/story/2017/02/552372-sustainable-development-goals-critical-better-future-all-deputy-un-chief-amina">Amina Mohammed</a>.&nbsp;



Even before the COVID-19 pandemic, a wave of demonstrations from Lebanon to Chile, from Iran to Liberia, was sweeping across countries. This was a clear sign that, for all our progress, something in our globalized society is broken.



The COVID-19 pandemic has struck the world like a bolt of lightning exposing the contours of deep inequalities. Media reports have helped reveal the interwoven threads of inequality and health, with poorer people suffering a strikingly disproportionate share of the fallout from the virus, either through infection or loss of livelihoods.



The global sweep of protests due to years of disenfranchisement and racism has made it clear that the world must change to offer equal treatment to all people. &nbsp;



Media can do the same for the Sustainable Development Goals (SDGs). Achieving the SDGs, and so improving the lives of millions of Africans, depends heavily on increasing public awareness, and on the focused action and funding that such awareness ignites.



One major shortcoming of development progress is the lack of widespread knowledge about the SDGs and the 2030 Agenda. We must look to the media to push the SDG discourse; what is reported and how it is reported helps shape policy and has implications for the millions of people whose lives are affected. Knowledge is power and if citizens are aware of the issues, they are empowered to help determine the national response.



Traditionally, development experts have failed to explain the relatively new concept of sustainable development to influencers such as educators, politicians, and the media. Doing so is key, so that easily understood narratives are developed to raise public support.



We are already a third of the way towards the 2030 Agenda deadline which 193 UN member states committed to. But at the current pace of change – notwithstanding the global pandemic &#8211; Africa is likely to miss out on the time-bound targets in key sectors &#8211; including health, education, employment, energy, infrastructure, and the environment.&nbsp;



Improved public awareness of the SDGs themselves, and of the actions needed and the bodies responsible for such actions is essential. By stepping up to address and explain the global quest for social justice and equality which the SDGs represent, the media can help galvanise civil society, business, international bodies, regional organizations, and individuals.



Pressure from an informed public, pushes policymakers into action, offering hope to millions of poor people.



Development is never far from the media agenda in Africa, so the opportunity to build understanding of sustainability is there. Sustainable development experts must explain why the SDGs are important, and why ‘business as usual’ in development is no longer viable in the face of increasing populations and climate change. Then, news outlets, who would then be able to develop compelling narratives to make the concept understandable by all can help raise the SDG profile, thereby raising public support.



We must “flip the orthodoxy”.



What is reported, how it is reported, and on what channels helps in shaping policy and has implications for the millions of people whose lives are affected.



To this end, the media must be brought into the conversation and be made to understand the role they can play towards the greater good.



The SDGs pledge that “<a href="http://www.undp.org/content/dam/undp/library/Sustainable%20Development/2030%20Agenda/Discussion_Paper_LNOB_EN_lres.pdf">no one will be left behind</a>” and to “endeavour to reach the furthest behind first.” In practice, this means taking explicit action to end extreme poverty, curb inequalities, confront discrimination and fast-track progress for the furthest behind.



The media can shine a spotlight on those left behind, for example by using COVID-19 to examine the wider issue of universal health coverage, the subject of SDG 3.



It also plays a critical role in holding governments to account for their Agenda 2030 commitments. Though these commitments demand that countries have clear reporting and accountability mechanisms, most nations still have no reliable data on their progress towards specific goals. This matters because countries can only unlock financing for the SDGs by disaggregating data to understand where resources are required. In Africa, where national commitments are rarely backed by adequate investment, this is particularly important.



Rapid mobile penetration in Africa offers unparalleled opportunities for content sharing on digital platforms such as Facebook, Twitter, and YouTube. Though lack of affordable internet connections and poor connectivity remain a challenge, mobile technology is a powerful enabler across many sectors.



One in every six people on Earth lives in Africa; its problems are the world’s problems and solving them is the world’s responsibility. If Africa fails to achieve Agenda 2030, the implications will be felt across the planet through conflict, migration, population growth and climate catastrophe.



The media in Africa is a stakeholder in the achievements of the SDGs. Let us support the media and enlist their help in the quest for economic, environmental, and social justice across the world.



Siddharth Chatterjee is the United Nations Resident Coordinator to Kenya.&nbsp;He has served in various parts of the world with UNFPA, UNICEF, UNDP, UNOPS, UN Peacekeeping and the Red Cross Movement. A decorated Special Forces veteran, he is an alumnus of Princeton University. Follow him on twitter-<a href="https://twitter.com/sidchat1?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor">@sidchat1</a>



The views expressed in this article are the author’s own.​​​​​

Sustainable Development In Africa Can Be Amplified By The Media

Imagine if the next time you needed to toss together a salad, spice up a meal or garnish an after-dinner treat, you only went as far as your balcony, rooftop or garden to source the ingredients. If you are a city-dweller in sub-Saharan Africa, that is more possible than you think.
Urban farming is mushrooming on the continent, almost as quickly as the rate at which people are moving into cities. Around 40% of the African population (around 375 million people) are metropolitan residents and that number will grow to 60% by 2050. The Food and Agriculture Organization of the United Nations (FAO) estimates that 150 million of those people grow their own food.
<img loading="lazy" decoding="async" class="alignleft size-medium wp-image-3476" src="/wp-content/uploads/2017/04/shutterstock_33409384-300x201.jpg" alt="" width="300" height="201" />
A handful of them are hipsters who nurture herb gardens while practising yoga and preaching about organic eating and low carbon footprints. Hundreds of thousands more are after more than just a feel-good factor. Just as urban farming became part of the recovery after the First World War and is being used by Cubans to combat crippling sanctions, in Africa it is solving some of society’s most severe problems. Sub-Saharan Africa is the world’s most under-nourished region and is rife with hunger and unemployment.
The FAO cited Malawi, Cameroon and Ghana, where up to 50% of households have vegetable gardens, as three countries with successful urban farming programs. South Africa is not far behind, with steps being taken to encourage urban farming in a country where around 20% of the population does not know where their next meal is coming from.
“Urban agriculture projects strive to reduce food security and create economic upliftment. Growing food in the backyard of your shack can be the difference between going hungry and having a healthy meal on the table for your family,” says Catherine Nicks, the Project Manager of Tyisa Nabanye, a non-profit urban agriculture organization which runs a farm on the slopes of Signal Hill in Cape Town.
Tyisa Nabanye occupies land on ERF 81, one of the original sites of agriculture in the Cape that dates back to the 1700s. Although it is historically farmland, these days it is not an ideal place to grow crops. While the clay soil remains nutrient rich, the area is often lashed by heavy rains and strong winds which destroy a harvest overnight. But Nicks and a team of seven others have found a way of working with the elements instead of fighting them through an ideology of permaculture.
“We practice companion planting in our garden, where certain vegetables are planted together with certain herbs and play different roles. Some plants feed or fix nutrients in the soil, others repel or attract insects that perform specific functions,” says Nicks.
“We find that kale and spinach do well in our garden, partly because they need little attention and they grow year round. And partly because they sell well, people cannot get enough of the very limited kale in the city.”
Kale is the new ‘it’ food and is often used in green juice where it is blended with spinach, cucumber and apple to create a healthy brew. One-Juice, a company that specializes in selling these drinks, buys some of its kale directly from Tyisa Nabanye. By doing that, they have created a direct connection between customers that are conscious of where their food comes from and the producers who supply that food.
People who drink One-Juice’s products only have to ask where the raw materials come from to be directed to Tyisa Nabanye. There they are welcome to see for themselves how the crops are grown. Nicks meets many of them personally, answers questions, introduces them to the gardeners and invites them to
come back.
“Urban farming is largely about reducing the distance between farm and fork, about increasing ones understanding about where our food comes from. We now know the name of our farmer as well as our doctor,” says Nicks.
“It’s about knowing what a gooseberry looks like before it has been dehusked, washed and placed on a layer of bubble wrap in a plastic container, what the leaf of a watermelon plant looks like and how tall a tomato plant can grow. We use our garden to share our knowledge about where our food comes from and how we can be more sustainable.”
But it’s not as simple as that. The 8.2–hectares, of which Tyisa Nabanye does not even occupy a tenth, is owned by the South African National Defence Force and run by the Department of Public Works. The farm does not have a lease to operate and there are constant bureaucratic battles to overcome, despite a policy in place which promotes urban farming.
In June 2007, the City of Cape Town drafted an urban agriculture policy in which stated its vision to create a ‘prosperous and growing urban agriculture sector,’ which would center on poverty alleviation and job creation. By encouraging agriculture in the city, the government hoped to take steps to increase food security and provide people with a sustainable income source.
More than five years after the document was tabled, the city reached an agreement with the Oranjezicht City Farm (OZCF) to turn a disused bowling green into a bowl of greens, literally. The farm uses that phrase as its slogan now. It was the city’s first pop-culture urban farm and quickly captured the attention of Capetonians because it was promoted as a community space.
OZCF connected itself to locals through a weekly market which sold fresh vegetables grown on the farm and grew to include a variety other stalls. It became the place to be on a Saturday morning for socializing, sipping on fair-trade coffee or craft beer or even trying a hand at farming as one of the OZCF volunteers. But the quaintness did not last.
The farm is situated on a heritage site and city officials require certain safety requirements to be met to accommodate the foot traffic and a proper market licence to trade. In early December, news broke that the market would stop until those boxes were ticked and the young and beautiful were outraged. They had grown to think of OZCF as a public property and exerted enough pressure to move the market to the official residence of the province’s Premier, Helen Zille, from where it continues to operate from.
The fracas over OZCF remains unresolved but it achieved something the community wanted most; it created awareness. Residents cared enough about where their food was coming from to go to where it was being grown. They watch it flower and flourish, buy it unwashed and unpackaged, cook it themselves, eat it and share it with others. If that sentiment lasts, urban farming will continue growing in Africa and could become as commercially viable as it in Beijing, where half the vegetables consumed in the city are in grown in urban farms.
With that in mind, go on and grow
a little.

Farming Coming  To A Town Near You

Various consumer brands are facing overwhelming challenges. Slowing global sales are placing pressure on companies aiming to expand their footprint and achieve real sales growth in sub-Saharan Africa, a region boasting a growing middle class and strong economic growth.
Financial results of two of the world’s largest breweries, SABMiller and Anheuser-Busch InBev, show declining global sales, and many other companies are feeling the pinch as well. These consumer brands are affected by getting their products to the African consumer and inefficiencies in the supply chain is a thorn preventing them from succeeding on a continent with over a billion people.
Some other challenges could be that despite strong distribution strategies, products are simply not available and brand visibility is inconsistent due to stock exchange. South African food and clothing retailer, Woolworths Holdings, cited difficulties in their supply chain among other reasons for closing down three stores in the continent’s most populous nation, Nigeria, in 2013.
According to Jeremy Haysom, the Vice President of Business Development and Supply Chain Solutions for DHL in the Middle East and Africa, the greatest challenge facing consumer brands as they venture into Africa is establishing an efficient route to the consumer.
“With growing urbanization, city populations have shown exponential growth in recent years and are expected to grow by over 25% over the next 10 years. There has been an explosion in the number of supermarkets and convenience stores established in cities to serve the customer,” he says.
“While these stores are located in prime locations, the back-end of the supply chain serving this retail revolution is in its infancy. This results in inconsistent stock availability and regular outages, a lack of brand visibility and most importantly product availability.”
Retailers handle their own international supply chain, which is managed from a distribution center, quite well. But the problem lies at the back of shop where manufacturers have to manage their own deliveries into the retail outlets. This causes a number of issues, including multiple deliveries from multiple suppliers at any given time causing considerable congestion at the back of retail outlets.
“Unless there is collaboration between a retailer and a consumer manufacturer you will continue to see inefficiencies at the back of shop and you will continue to have the knock-on effect that has on congestion and other issues around these developing cities,” says Haysom.
He adds that this is a general challenge seen in sub-Saharan Africa, excluding South Africa. The South African market is mature and has ironed out many challenges and multiple deliveries into retail outlets do not occur anymore.
“You’ve got consolidation, collaboration between consumer manufacturers and retailers to ensure that multiple deliveries of one vehicle going to a retail outlet. Therefore pretty much the brand and the brand market can be taken onto the shelf, where you’d expect everything to arrive at the shop and there would be a certain high percentage of on-shelf availability in the retail store,” says Haysom.
“What you see outside of South Africa is different. Consumer manufacturers are having to undertake a part of the supply chain deliveries from their side onto a retail side and inefficiencies occur and on-shelf availability is affected.”
So what must be done in 2015 for retail to deliver on Africa’s promise? Haysom says there is little or no collaboration between the supermarket and the supplier which results in regular out-of-stock situations. Retailers, both multinationals and regional, need to invest in bolstering the back-end or supply chain serving this retail revolution. Consumer brand companies that are keen to translate Africa’s latent potential into real success need to recognize the relative immaturity of the African supermarket industry and put in place strategies that will successfully navigate inventory management.
In his book, Africa’s Future Darkness to Destiny &#8211; How The Past Is Shaping Africa’s Economic Evolution, Duncan Clarke says the state of Africa and its economies today marks the departure point for the future. We know the past has shaped the present: for the future, what do we really know? And those words couldn’t be any truer.
The key to winning in Africa is through the little things that are done in 2015 which will help retailers overcome supply chain inefficiencies.

African Retail  Needs To grow up

A deep horn blast was used in a slice of history at Africa’s biggest stock exchange. It was from the lungs of Rakesh Wahi, Founder and Vice Chairman of Africa Business News (ABN), signaling the opening of the bourse, as CNBC Africa crossed a new frontier in business broadcasting on the continent.
CNBC Africa – the sister of FORBES AFRICA in the ABN stable – became the first African broadcaster to beam shows from the Johannesburg Stock Exchange (JSE). It came on the eve of the company’s seventh anniversary.
“It’s an exciting time; I haven’t stopped smiling since yesterday. It is to the credit of the people around you who have all done a fantastic job,” says Wahi.
CNBC Africa is emulating the example of CNBC in the United States (US), which has broadcast from the New York Stock Exchange since 1995. This move is all part of a bigger plan.
“Our vision is to be in all 48 countries in sub-Saharan Africa. We have to be in all the major exchanges and report from the smaller ones. We need to be able to integrate all these exchanges through information flows. We need to be able to go out and educate people about what markets are,” says Wahi.
The new studio is state of the art. It includes an eight cube video wall, six interview positions and robotic cameras – which will be fully controlled out of the gallery and will minimize additional camera crew. The main anchor desk, resembling a star, is a copy of the one used both in Europe and the US.
It will host Open Exchange, Power Lunch and Closing Bell, with regular crossings to Nigeria, Kenya, South Africa, Mauritius, Uganda, Zambia, Namibia, Rwanda, Mozambique, Botswana, Gabon and Ghana.
Jean Landsberg, the head of technical and operations for the ABN Group, traveled to New York and Singapore to check out the latest technology.
“When I traveled to the SGX in Singapore and New York, I got an idea how they put their infrastructure in place… whereas Singapore still link in to their [stock exchange], from the main studio, we will be actually running everything and all the operations from the JSE studios. So it’s a little more advanced than what Singapore is doing,” says Landsberg.
LED technology will be used to reduce the power consumption by the studio lights and the video wall. Landsberg says, as time goes by, small technological frills will be added.
The new technology is in the interest of keeping business people better informed about what’s happening inside Africa’s biggest bourse.

The First Lady of the road

On The Pulse Of The Markets

Countries in sub-Saharan Africa are set to clock up the fastest pace of growth since the global financial crisis struck five years ago, despite the weak global environment. But it has not prevented the finances in many of their economies from deteriorating. The question is, should we be worried?
Budget deficits in the region have swelled in the past decade, as governments have ratcheted up their spending. According to research from UK-based Capital Economics, the combined shortfall for the region in 2012 amounted to 2.5% of gross dom-estic product (GDP) – a key financial health ratio – compared with just 0.5% in 2000. Ironically, the trend has nothing to do with excessive borrowing. Over the same period, government debt as a share of GDP plunged to 33% from 70% – a respectable level.
However, the improvement in debt ratios has been driven largely by debt relief from Western donors. As these countries grapple with their own fiscal constraints, this is likely to dwindle. At the same time, prices for exported commodities, the mainstay of the region’s economies, are starting to subside after reaching historic peaks in the past decade. This means that governments will have less to spend on financing their own development, and may have to borrow more to do so.
The marked acceleration in spending that has taken place across the region is generally viewed as positive. Most of the money is invested in capital projects, which will ultimately boost growth potential. Sub-Saharan Africa needs an estimated $93 billion a year for infrastructure development. But some governments are pumping increased amounts of money into what is known as current spending. This includes the salaries of civil servants and subsidies on necessities like fuel, electricity and food. These eventually become unaffordable.
The biggest spenders on subsidies in the region are Angola, Ghana, Nigeria, Mozambique and Zambia. Ample oil revenues mean that Angola and Nigeria can cope with the financial burden, but the finances of the other three countries are not as healthy. In Ghana, fuel and electricity subsidies swallow nearly a quarter of official revenues. Power subsidies alone account for 17% of revenue in Mozambique and 20% in Zambia.
Yvette Babb, Standard Bank’s Africa strategist, believes that countries in sub-Saharan Africa are trying to address the burden of fiscal subsidies. She says that there has been a strong improvement in the way that fiscal budgets have been managed. She also says that the debt burdens of countries in the region are generally still “enviable” when compared with the US and Europe.
However, there are significant exceptions. The region’s two main offenders are Ghana, its biggest cocoa producer, and Zambia, its top copper producer. Both countries’ economies are growing at a heady pace of more than 7%, so there is little justification for fiscal slippage.
In what was seen as a bid to garner support ahead of the 2012 elections, Ghana overhauled its government salary structure in 2010. The public wage bill was pushed up to nearly half of overall spending. This had disastrous effects on the country’s financial credentials. Ghana’s budget deficit ballooned to about 12% of GDP in 2012, nearly double its official target, from just 4% in 2011. Its debt had reached 50% of GDP at the end of 2012, up from 41% a year earlier.
Ghana’s government has pledged to narrow its budget deficit to 9% in 2013 and 6% by 2015, but there is widespread skepticism that these targets can be achieved. In what was seen as a step in the right direction, the country scrapped fuel subsidies worth $500 million in May.
Despite partial cuts in fuel and maize subsidies in 2013, Zambia’s budget deficit is also expected to widen, reaching 8.5% of GDP in 2013 from 2.8% in 2012. After a broad-based increase in civil servants’ salaries, the country’s budgeted wage bill will climb to more than half of official revenues in 2014, from 40% previously.
One of the strategies that Ghana, Zambia, and several other sub-Saharan African countries have deployed to deal with their fiscal challenges is tapping international capital markets. In 2013, governments from the region raised more than $5 billion in global sovereign bonds – including several debuts. That compares to issuance of just $1 billion a decade ago.
More bonds are in the pipeline, with Zambia, Kenya, Tanzania and Senegal all likely to enter the market. And there is ample appetite from investors. In 2012, Zambia’s debut $750 million Eurobond was 15 times oversubscribed. Provided the money is allocated wisely, the trend is set to continue.

Tag: Sub-Saharan Africa

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