Takealot Group has announced significant leadership changes, months before Amazon.com is expected to launch retail e-commerce operations in South Africa. South Africa’s leading e-commerce group, which owns Takealot.com, Superbalist and Mr D, said on Friday that Mamongae Mahlare will become executive chair, with Frederik Zietsman – until now CEO of takealot.com – taking the reins as group CEO.
“The streamlining of the leadership between the group and takealot.com will reinforce resources around its flagship online retail and marketplace platform and bring stronger alignment and focus in delivering on its key growth objectives,” the statement said.
Mamongae Mahlare
Kim Reid, current chairman of Takealot Group – and the person credited with building the group into what it is today – will remain on the board as a director and as a strategic advisor to both Mahlare and Zietsman.
Mahlare was appointed as CEO in August 2021, replacing Reid in the role. Speaking of the development, Mahlare said that: “My role as executive chair is about supporting the leadership to grow the business and driving opportunities that move our group forward. I will also be collaborating with our stakeholders to champion the enablement of e-commerce and how we can accelerate SMME development in the digital economy to create much-needed jobs.”
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
Elon Musk’s artificial intelligence start-up xAI is in talks to raise up to US$6-billion at a proposed valuation of $20-billion, the Financial Times reported (paywall) on Friday, as the billionaire entrepreneur looks to mount a challenge to OpenAI. The start-up has been in talks with family offices in Hong Kong and is targeting sovereign wealth funds in the Middle East for the funding, according to the report, which cited multiple people familiar with the matter.
The AI race has been heating up with several investors signing big cheques for start-ups looking to capitalise on what has captured Silicon Valley’s attention over the past year. At $20-billion, xAI’s valuation would be a fraction of OpenAI’s, but in line with some other peers. A $6-billion fundraise would be much higher than the $1-billion goal xAI had set last month in a filing with the US Securities and Exchange Commission.
CEO of Tesla, Elon Musk
At $20-billion, xAI’s valuation would be a fraction of OpenAI’s, but in line with some other peers such as Google-backed Anthropic.
Musk has approached investors in Japan and South Korea for the latest fundraise, the Financial Times reported. His office did not immediately respond to a request for comment.
Morgan Stanley is coordinating the fundraise, according to the report. The bank was one of several that helped finance Musk’s takeover of social media platform X, formerly known as Twitter. Last week, Musk denied a report that xAI had secured $500-million in commitments from investors toward a $1-billion funding goal.
Vocal
The CEO of Tesla has been vocal about his plans to build safer AI. Musk co-founded OpenAI in 2015, but stepped down from its board in 2018. Last year, xAI launched “Grok”, a chatbot rivaling OpenAI’s ChatGPT.
Musk also warned about developing AI and robotics outside Tesla, earlier this month, unless he gets more voting control at the electric vehicle maker. He said he would be uncomfortable building Tesla into an AI leader unless he had 25% voting control.
Thanks to the popularity of ChatGPT, the AI industry has been a rare bright spot in a subdued start-up funding environment. Anthropic and Microsoft-backed Inflection AI have also raised funds in recent months.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
African Export-Import Bank has announced that its board member, Mr. Ronnie Ntuli has been awarded the Progressive Business Forum’s (PBF) prestigious Lifetime Achievement Award and was presented with the accolade at the Presidential Gala Dinner and special celebrations that marked three decades of democracy in South Africa.
The award, which was presented at the PBF’s inaugural “Show Up” awards ceremony, recognizes and celebrates individuals who have distinguished themselves in business, public service and, through their commercial, entrepreneurial and civic ventures. It also recognizes those who have acted to improve the common good and promote the wellbeing of others.
Mr Ntuli’s receipt of this award constitutes a recognition of his extraordinary contribution to the expansion of Southern Africa’s rail network and his application of engineering expertise to continental transport and logistics assets. Mr Ntuli founded and established the Thelo Group, as one of the continent’s eminent financiers of railway infrastructure and rolling stock, and the region’s most significant supporters of industrial development and high-value exports.
Ronnie Ntuli
Further to these economic contributions, Ronnie has served his country and continent through extensive advisory work for a range of African Heads of State, where he has leveraged his unrivalled financial and engineering experience – as well as his background in Law – to help decision-makers devise policies and strategies to accelerate economic development and entrepreneurship.
Afreximbank President and Chairman of the Board of Directors, Prof. Benedict Oramah, said that he is “delighted that my dear friend, and much-trusted advisor on Afreximbank’s Board, Mr. Ronnie Ntuli, has been recognized by the Progressive Business Forum for his decades of work on this continent. As both businessman and advisor, Ronnie’s contribution to our shared prosperity and development is quite simply incalculable. His counsel has been indispensable to the Bank, particularly as we navigated the challenges of implementing the African Continental Free Trade Area agreement.”
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
In an historic achievement for Burundi’s Quality Infrastructure System, the Laboratory for Soil Analysis and Food Products (LASPA) of the Institute of Agriculture Science of Burundi (ISABU) and the Chemistry Laboratory of Burundi Bureau of Standards and Quality Control (BBN) have been accredited on the first key parameters to comply with international standards.
The accreditation lends credibility and generates confidence about the lab results at the global level. “We are proud of being recognized by international bodies. BBN was created in 1992 and after 32 years, it is now accredited for first parameters thanks to MARKUP Burundi Project interventions,” Quality Assurance Director of BBN said.
Since 2018, Quality Infrastructure institutions including the BBN, ISABU, the National Centre of Food Technology (CNTA) and the Plant Protection Directorate (DPV) have been receiving support from the European Union funded EU-EAC MARKUP Burundi project.
Legal framework of the Quality Infrastructure was reviewed and upgraded, and technical and material support was also provided.
Officer in-charge of LASPA appreciating the success said, “The fact of recognizing ISABU laboratory by international bodies as accredited on first parameters is a milestone in the process of being accredited on other parameters. We are grateful for the package of interventions put into place to come up to this achievement. We are encouraged to build on this cornerstone and committed to sustain it. The journey is long but we work to enable private and public sectors to meet market requirements.”
Improved quality is a promise of greater market access for Burundi’s export products. MARKUP Burundi supported the development of the National Quality Policy of the country, approval and launch by the Government including implementation of several key activities of its action plan and achieving accreditation of its conformity assessment bodies.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
The U.S. Secretary of State Antony J. Blinken has declared open the latest American Corner in Lekki, Lagos which is the newest addition to the United States’ global American Spaces network that comprises more than 600 cultural and information centers in more than 140 countries in every geographic region worldwide. This year, American Corners, supported by local partners and part of the American Spaces network, celebrates its 20th anniversary and continues to expand its global footprint as a vital part of the United States’ people-to-people engagement strategy to expand access to education, economic opportunity and equity, and societal inclusion.
Newest American Corner in Nigeria, src google.com
American Corner Lekki represents the future of the American Spaces network, providing local communities easy access to programming and resources on U.S. culture, English-language learning opportunities, internet service, as well as advising services for study in the United States, skills and professional development programs and trainings.
In 2023, the American Spaces network — which includes American Centers, American Corners, and Binational Centers — reached over 41 million people worldwide through nearly 1.5 million engagement programs and opportunities.
The Department’s American Spaces network in Africa consists of 172 American Spaces in 52 countries. In 2023 alone, the American Spaces network in Africa hosted approximately 20,000 in-person and virtual programs, reaching more than 1.6 million participants across the continent. Nigeria’s network of American Spaces includes two American Centers, located in Abuja and Lagos, and 10 American Corners located in universities, libraries, and community centers across the country. Last year, Nigeria’s American Spaces and Affiliates reached nearly 100,000 participants in 21 cities through approximately 4,400 programs focused on civic engagement, media literacy, women’s participation in politics, STEM education, creative industries, entrepreneurship, and youth development.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
His Excellency, Joseph Nyuma Boakai has been sworn in as Liberia’s 26th President at an Inauguration Ceremony on the grounds of the National Legislature of Liberia. Administering the Oath of Office in keeping with Article 53 of the Constitution of Liberia, the Chief Justice of the Supreme Court of Liberia challenged the President to perform his duties within the confines of the laws of the Republic of Liberia.
Read also
Attending the occasion were President Nana Addo Dankwa Akufo-Addo of the Republic of Ghana, President Julius Maada Bio of Sierra Leone, and a high-power American delegation headed by Linda Thomas Greenfield, Ambassador of the United States to the United Nations and Special Envoy of President Joseph R. Biden. In attendance also was a delegation from the Peoples’ Republic of China headed by the Vice Chairman of the China Peoples’ Political, Consultative Conference, CPPCC. There were representatives from nations and international organizations.
President Joseph Nyuma Boakai
Addressing the nation, the President ‘promised to restore the years the locust has eaten’ by working to restore dignity and integrity to the public service of Liberia.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
At this time of the year there is usually a flurry of articles attempting to lay out trends to look out for in various industries over the coming months. This is a good exercise as it gets one thinking about industries broadly and technology specifically. However, it would be remiss to embark on this exercise without first taking stock of where we are now. The fintech ecosystem is currently in a period of stress, less so for incumbents but noticeably for newcomers.
This stress is a direct result of macroeconomic pressures piling up to generate headwinds for new market entrants. As we all know, when the macro picture is less than rosy it affects play out on the ground. In summary, there is less money floating around – less money from investors and most notably, less disposable income in the hands of consumers.
Let’s take a moment to appreciate how this looks in the broader African context. Firstly, it means there is significantly less money knocking on the doors of new and innovative businesses that need investors.
Andy Jury, CEO at Mukuru
Just recently, a payments processor headquartered in France lost 53% of its value – this kind of scenario has a knock-on effect across borders. However, there is a massive opportunity for fintechs that have bootstrapped themselves up in the uniquely African context.
What does this opportunity look like? For starters, there continues to be a great deal of disruption in the market. Fintechs, mobile network operators (MNOs) and banks will approach the challenges and opportunities differently. The ones that emerge from this phase in a strong position will be those that have thought about the economics of their proposition carefully, because the opportunity that presents itself in tough times is likely more scalable from an addressable market perspective.
On the other hand, those who react will focus on price. A war on price is a race to the bottom. On the contrary, the businesses and fintechs that get through the tough times will be those that focus on customer experience (CX). It may be considered an intangible that sits between the bricks and cogs of a business, but it is crucial.
In difficult conditions, every business focuses on customers returning and using their products and services more frequently. This isn’t easy, or everyone would be getting it right. Customers with less money in their pockets become more discerning, and in our experience are looking for a full basket of genuinely personalised customer experience where affordability is a crucial component, but most certainly not the only one.
We have learnt that speed, access, trust, convenience and safety in the payments space continue to be exceptionally important drivers in customers’ decision making on where to spend their hard-earned money. At Mukuru we build very tight feedback loops with our customers and the feedback we get time and time again is speed, ease of use and safety is primary to how they develop their consideration set.
Looking ahead, regulation will continue to play an important role in how the industry evolves. The FATF’s greylisting earlier this year has had a significant impact on businesses such as ours. We are under increasing scrutiny, not because anyone thinks we present any more risk than before, but because accountable institutions must demonstrate that they are confident money isn’t being laundered or used for nefarious purposes. The result is that fintechs need to spend more time thinking and planning their products and must be tight in terms of the relationships they build with their customers.
Regulation is also expected to present immense opportunities, especially in Southern Africa. South Africa, for example, lags other regions in the realm of mobile money. Legislation which is expected to come into play in 2025 will effectively form the framework within which e-money capabilities will be governed. This moment will be a significant game changer for the region. The ability for more people to use e-wallets more frictionlessly will add immense value in the South African context and will fundamentally change the landscape of how money is stored, used and moved.
Looking toward this big disruption on our doorstep, businesses will approach the opportunity differently. There will be those who throw mud at the wall and see what sticks, whereas we believe the real winners will be those that remain crisp and precise with their customer propositions. In this context, we believe partnerships will be vital for stability and growth, where partners enter mutually beneficial symbiotic relationships. These can take many shapes and forms, such as payment providers bridging the gap between the informal and formal sectors solving a problem for fintechs who need ways to enable their customers to pay for goods and services, and where the payment provider gets access to millions of previously unreachable customers.
Digitisation and diversification will continue to be important trends in the coming months and years. Take a moment to consider the power that MNOs and banks have traditionally exerted in the formal payments ecosystem – fintechs who are agile can enter into partnerships with other fintechs to offer similar one-stop solutions to those currently offered by the MNOs and banks. This trend will see an equalisation of influence.
Lastly, those that prioritise customer needs and wants will emerge stronger. There are two schools of thought on how you digitise money. The first is that you place a wallet in someone’s hands and encourage them to use it. This would be the traditional approach. The Mukuru approach, and certainly the approach of the more agile players, is to find a way to help people with their payment and remittance needs and then graduate them towards using a digital store of value as they develop trust in the brand and the technology.
These are divergent approaches, but in difficult economic conditions our experience – which has seen us sign up 14-million customers across many countries – says it is better to listen to what customers want and then walk a journey with them as they become more sophisticated in their digital journeys. Our approach is to solve a problem and then gradually build trust and extend the services and products we offer, as opposed to building a shiny product and waiting for customers to arrive.
Andy Jury, CEO at Mukuru (www.Mukuru.com)
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
President Abdel Fattah El-Sisi met with Chairman of the Greek Copelouzos Group, Dimitrios Copelouzos, in the presence of Prime Minister, Dr. Mostafa Madbouly, Minister of Electricity and Renewable Energy Dr. Mohamed Shaker, and a number of senior company executives.
Spokesman for the Presidency, Counselor Ahmed Fahmy, said the President was briefed on progress in the “GREGY Project” for power interconnection with Europe, particularly with the successful incorporation of the project into the initial list of projects of common interest in the European Union. This paves the way for embarking on the next phase of the project’s implementation, namely the preparation of the final technical and environmental studies as well as the study to determine the path of marine connection cables.
Egyptian President, Abdel Fattah el-Sisi
The President was offered an overview of the group’s plans for the production of renewable energy in Egypt. President El-Sisi was given a presentation on efforts exerted to boost joint work between Egypt and the group to implement a 9.5 gigawatt wind and solar power production project, which will strongly support the Egyptian economy and make a major contribution to efforts toward transition to clean energy in Egypt and Europe.
President El-Sisi gave directives to proceed and expedite joint cooperation efforts between the two sides so as to complete the proposed projects as soon as possible. He also stressed the need to streamline procedures and eliminate any impediments that might be encountered during the course of the project’s implementation. The President confirmed Egypt’s keenness on playing a leading role in the international transition to clean energy, which will benefit Egypt at both the economic and environmental levels. President El-Sisi lauded the persistent cooperation between Egypt and Greece across all areas, which demonstrates the robust relations the two countries share.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
More than fifty days since Dr Daouda Diallo, Secretary-General of the Collective Against Impunity and Community Stigmatization (CISC), was forcibly disappeared, Amnesty International today calls on the Burkina Faso authorities for his safe return to civilian life and to end the use of conscription as a tool to silence dissent.
Dr Diallo was abducted by security agents on 1 December 2023 as he left the passport office in Ouagadougou, Burkina Faso’s capital, and taken to an unknown destination. A few days later, in an image shared on social media, he was shown in the back of an army truck wearing military uniform. The government has not officially acknowledged his detention nor his whereabouts, but his family and lawyers believe he is now on the frontline.
Human Rights Defender Daouda Diallo
“The military authorities must immediately release Dr Daouda Diallo, and the enforced disappearance of human rights defenders and activists under the guise of conscription must end. Human rights defenders must not be subjected to harassment, intimidation, and violence by the state,” said Samira Daoud, Amnesty International’s Regional Director for West and Central Africa.
“Amnesty International calls on the military authorities to respect, protect, promote, and fulfil the human rights of everyone in the country. The authorities must be transparent about the entire conscription process. Amnesty International condemns the discriminatory use of the April 2023 decree on national mobilization to conscript independent public voices in Burkina Faso.
“Amnesty International also urges the military authorities in to allow individuals under conscription to regularly communicate with their families and relatives.”
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
As the cholera outbreak in Zambia continues to expand rapidly, efforts are being stepped up to halt the spread of disease and save lives. A vaccination campaign is currently underway targeting 1.5 million people, including children, health workers and people at high risk of infection in the worst affected areas.
In partnership with Gavi, the Vaccine Alliance, UNICEF and others, World Health Organization (WHO) is supporting the government to effectively roll out the oral cholera vaccination campaign as well as bolster ongoing outbreak control measures. More than 1.4 million cholera vaccine doses have been delivered to the country to help stem the outbreak, with another 200 000 additional doses for a total of around 1.7 million doses approved by the WHO International Coordinating Group on Vaccine Provision.
The government declared a new outbreak in October 2023, which began in Lusaka province. As of 18 January 2024, 10 887 cases and 432 deaths were reported across nine of the country’s 10 provinces. Lusaka, Central and Eastern provinces are the worst affected. Lusaka district is the epicentre of the outbreak. The outbreak is spreading fast, with the country recording an average of 461 new cases every 24 hours over the past seven days.
The rapid spread of the disease and the increasing number of reported cases suggest that the outbreak may be one of the worst in the country’s recent history. Densely populated areas of Lusaka with limited or no access to clean water, sanitation services and poor hygiene practices are facing a higher incidence of cholera.
“The current cholera outbreak requires concerted and collaborative efforts to protect the health and well-being of citizens. Our priority is to work closely with the government, local health authorities and cooperating partners to provide immediate support and expertise,” says Dr Nathan Bakyaita, WHO Representative in Zambia. “The epidemiological situation underscores the urgency for a comprehensive response, addressing the root causes and implementing targeted interventions.”
WHO is working with the government to strengthen the key outbreak response areas. The Organization has deployed 23 experts from its Regional Office for Africa to support emergency coordination, case management, surveillance, infection prevention and control, bolster water, sanitation and hygiene services as well as increase public awareness on the risks of the disease.
WHO has also provided more than 14 tons of cholera kits and additional medical supplies to the government. The supplies are enough to treat about 3000 mild to severe cases of cholera, including moderate cases at oral rehydration points in communities. The Organization is also procuring additional supplies and equipment, including cholera beds which are set to be delivered in the coming days.
The government has activated high-level outbreak response coordinated by the Disaster Management and Mitigation Unit. Other efforts to control the outbreak include the provision of water tanks to supply communities with clean drinking water, setting up of oral rehydration points in strategic community places such as markets, churches and bus stops for access to early treatment, and public health campaigns to promote hygiene practices. Cholera treatment centres have been set up to provide medical care for severe cases, with the largest treatment centre at the National Heroes Stadium in central Lusaka
Cholera is an acute, extremely virulent infection that can spread rapidly and dehydration resulting in high morbidity and mortality. However, the disease is easily treatable. Most people can be treated successfully through prompt administration of oral rehydration solution or intravenous fluids.
Effective control relies on implementing comprehensive measures including enhanced epidemiological and laboratory surveillance to detect, confirm and quickly respond to outbreaks, improving access to treatment, vaccines, safe water, and basic sanitation as well as effecting behavioural change and better hygiene practices among communities.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
