Afrcian Business Quarterly (Issue 14)

AFRICAN BUSINESS QUARTERLY

ISSUE 14 RSA R45.00

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REASONS AGRIBUSINESS SHOULD DRIVE ECONOMIC DEVELOPMENT WHY AFRICA NEEDS ITS OWN

CREDIT RATING AGENCY

LEVERAGING THE CONTINENT’S IMMENSE WEALTH OF CRITICAL MINERALS

CLIMATE CHANGE RISK FOR SMALL

BUSINESSES

MAJOR

PLAYERS THE WORLD SHOULD LOOK TO SMALL ENTERPRISES FOR SUSTAINABLE GROWTH AND DEVELOPMENT IN AFRICA

CONTENTS ISSUE 14

08 FROM THE EDITOR

Keeping the wheels of South Africa’s economy turning

10 MEET UP

Rub shoulders and conduct business with the high-flyers in African business

12 CLIMATE CHANGE: FEELING THE HEAT What risk does climate change pose to small businesses in South Africa, and what can they do to turn the tide?

18 BUSINESS TRAVEL: BEST OF BOTH WORLDS

You'll arrive as a business traveller but leave as a holidaymaker, thanks to the business facilities and leisure activities at these hotels across South Africa

22 ECONOMICS: IT MAKES BUSINESS SENSE Africa needs its own credit rating agency: here’s how it could work

26 FINANCE: TAKE CONTROL

Online trading has become a powerful tool for women to expand their financial horizons and establish solid foundations for their future

30 RENEWABLE ENERGY: POWER UP A pipeline of innovative renewable energy projects being developed in West Africa is driving sustainable solutions for the region

34 OIL & GAS: “DRILL, BABY, DRILL!”

Addressing delays in the name of progress: The state of play of African oil and gas projects

38 MINING: MAXIMISE POTENTIAL

Africa is well positioned to leverage its immense wealth of critical minerals to participate in the global shift toward renewables

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AFRICAN BUSINESS QUARTERLY

ISSUE 14

ED’S NOTE

KEEPING THE WHEELS OF THE ECONOMY TURNING

I

t is often said that Africa isn’t for the faint-hearted.

Similarly, doing business in South Africa requires a strong constitution—more so in these tough economic times.

I read recently that more than 800 businesses have shut up shop since the start of 2023. And, while Statistics South Africa reports that business liquidations have decreased by 11.7% from June 2022 to June 2023, it remains a frightening thought.

Reading those statistics, it’s a wonder that anyone would still venture to open a business in South Africa. It’s with this in mind that we have launched the African Business Awards to recognise the efforts of the stout-hearted individuals who have not only opened businesses but who are continuing to navigate the rocky South African business landscape.

At a gala dinner hosted at the Maslow Hotel in Sandton, some of South Africa’s leading businesspeople gathered to celebrate their achievements at the awards. Also in attendance was the honourable Gwede Mantashe, Minister of the Department of Mineral Resources and Energy, who delivered the keynote address.

Rounding out the list of speakers were Mathews Phosa, founder and CEO of Phosa Loots Inc. Attorneys; John Dludlu, CEO of the Small Business Institute; and Nkosikhona Mbatha, acting CEO of the Small Enterprise Development Agency.

While events such as these business awards won’t turn around South Africa’s financial woes, they go some way toward providing encouragement to those keeping the wheels of the country’s economy turning.

Enjoy this 14th edition of African Business Quarterly .

THE

AFRICAN BUSINESS TEA M QUARTERLY

PUBLISHER Donovan Abrahams MANAGING EDITOR Ashley van Schalkwyk

ashley@avengmedia.co.za

COPY-EDITOR Tania Griffin

tania@avengmedia.co.za

DESIGN Kauthar Renamé EDITORIAL SOURCES TheConversation.com

Energy Capital & Power African Development Bank Business Partners Ltd New Leaf Technologies Mercy Ships Gawi Kanjemba

PHOTOGRAPHIC SOURCES Adobe Stock, Courtesy Images PROJECT MANAGER Carl Chothia ADVERTISING SALES Viwe Ncapai

Lunga Ziwele Carl Chothia Charlton Peters Andre Evans Mpumzi Njovana

ACCOUNTS Benita Abrahams Bianca Alfos

CLIENT LIAISON Majdah Rogers ONLINE CO-ORDINATORS Majdah Rogers

Ashley van Schalkwyk

IT & SOCIAL MEDIA Tharwuah Slemang HR MANAGER Colin Samuels PRINTER Multiprint Litho Pty Ltd

Ashley van Schalkwyk

DISTRIBUTION www.abizq.co.za, www.issuu.com

DIRECTORS Donovan Abrahams Colin Samuels

PUBLISHED BY Aveng Media

ADDRESS: Boland Bank Building, 5th Floor, 18 Lower Burg Street, Cape Town, 8000 Tel: 021 418 3090 | Fax: 021 418 3064 Email: majdah@avengmedia.co.za Website: www.mother&child.co.za

DISCLAIMER:

© 2023 African Business Quarterly magazine is published by Aveng Media (Pty) Ltd. The Publisher and Editor are not responsible for any unsolicited material. All information correct at time of going to print.

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AFRICAN BUSINESS QUARTERLY

ISSUE 14

CLIMATE CHANGE

FEELING THE HEAT What risk does climate change pose to small businesses in South Africa, and what can they do to turn the tide?

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AFRICAN BUSINESS QUARTERLY

ISSUE 14