African Business du 01-08-2019

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The Best selling Pan-Af r ican Business Maga zineFeaturesFIFA’s plan to clean up African football Ethiopia combats ethnic nationalism Africa and the IMF after Lagarde AfricanAndrew Cowan, East African Breweries Traïc-choked Lagos turns to waterways Interview BUSINESSJAPAN-AFRICA SPECIAL REPORTS An IC Publication | 53rd Year | N° 466 | August/September 2019TALENT AGENDA SERIES AFTER COLLYMORE: SAFARICOM FACES THE FUTURE
● ● ● ● ● ● ● ● Euro Zone €5.00 UK £4.00 USA $6.50 Algeria DA 500 Canada $6.50 CFA Zone CFA 2 900 Egypt E£ 60 Ethiopia R 150 Gambia GMD 200 ● ● ● ● ● ● ● ● Ghana GH¢ 20 Kenya KShs 350 Liberia $5 Mauritius MR 150 Morocco Dh 40 Oman OR 2.00 Qatar QR 20 Rwanda RWF 3000 ● ● ● ● Saudi Arabia Rls 20 Sierra Leone LE 40,000 Singapore $7.50 South Africa R40 (inc. tax) Other Southern African Countries R 35.10 (excl. tax) ● ● ● ● ● ● ● ● Sweden SKr 33 Switzerland SFr 8.70 Tanzania TShs 6,500 Tunisia DT 5 Turkey TL 10.000Y UAE Dh 20 Uganda USh 15,000 Zambia ZMW 50
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C O N T E N T S ContentsAugust/September 2019 Issue Nº 466 www.icpublications.com
Cover Story After Collymore: Safaricom faces the future
Business intelligence 4and deals News from around Africa
Cover story 10After Collymore:Safaricom faces the future 15 Tribute: Bob Collymore
Features 17 Interview:Andrew Cowan, Group MD and CEO, EABL 20The View:Free trade agreement is positive step for Nigeria 22 Lagos urges commuters to use waterways 24 FIFA appointment shakesup African football 26înance minister Kenya snared in dam probe 28 Africa and the IMF after Lagarde 30 Africa’s Silicon Valleysripen for investment
Perspective 32judgment holds Mining implications for multinationals
Special report Japan-Africa 35Ticad 7:Start of a  new era for Japan and Africa
Countryîles 48 Reforms embolden  Ethiopia’s regionalists 50 Nigeria moves to  revive mining industry 52Currency problems hit Zimbabwe’s gold miners
Special report Talent Matters: TheEmployeeExperience 55is dead – Long live HR  the employee experience 58Careers in Africa Employer  of Choice 2019:Methodology 60 Careers in Africa Employer  of Choice 2019: Rankings 64Interview:John Lewis,  MD, Aggreko Africa 66Interview:Edna Malavolonek, Head of HR, Aggreko Africa 68Case study:Bosch Africa 70 Purpology – the secret behind successful challenger brands
Review 72 Holding bankers to account
Last Word 74 How can DRC  overcome Ebola?
4African BusinessAugust/September 2019
Business IntelligenceNews
Lusophone Compact to benefit Angola’s private sector
Angola, Portugal and the African Development Bank (AfDB) have signed a compact designed to accelerate the growth of Angola’s private sector. The deal will help implement the wider Lusophone Compact, a înancing platform involving the AfDB, Portugal, and the six Portuguese-speaking countries of Africa. It provides risk mitigation, investment products and technical assistance to accelerate private sector development.
The UK’s Serious Fraud Oïce (SFO) has opened an investigation into banknote and passport printer De La Rue and “associated persons” over “suspected corruption” in its business in South Sudan. De La Rue, which supplies international central banks, said that the SFO had informed it of the investigation and that it would cooperate. Shares in De La Rue plunged nearly 16% following the news.
Foreign private investment now as big as foreign aid
Foreign private investment now supplies about as much înance as foreign aid in many low-income countries, including in Africa, according to a study by the Center for Global Development. The study examined foreign private capital ows – meaning foreign direct investment, portfolio equity and debt, and bank and other lending – to low-income countries, including 19 in sub-Saharan Africa. Much of the new investment in Africa is coming from China.
SFO investigates banknote printer’s South Sudan operations
Cameroonian Joel Embiid (centre) in action for the Philadelphia 76ers versus the Boston Celtics.
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6African BusinessAugust/September 2019
Business IntelligenceNews
US imposes travel restrictions on Nigerians for ‘undermining democracy’
The US Department of State has imposed visa restrictions on unnamed Nigerians who it alleges were “responsible for, or complicit in, undermining democracy” in the 2019 elections. “These individuals have operated with impunity at the expense of the Nigerian
people and undermined democratic principles and humanrights,saidastatementfrom the department, emphasising that the actions were speciîc to certain individuals “and not directed at the Nigerian people or the newly elected government.”
Ethio Telecom earned 36.3bn Ethiopian birr ($1.26bn) during the last înancial year
$1.26bn
Ethio Telecom’s earnings rise by 7%
Ethio Telecom earned 36.3bn Ethiopian birr ($1.26bn) in revenue during the last înancial year, a rise of 7%. The government is considering privatising the company as it looks to open up the economy to foreign investors. The chance to compete in the long-closed telecommunications sector is coveted by international operators.
World Bank supports fight against Ebola in DRC
The World Bank is to provide $300m in grants and credits to support the îght against Ebola in the Democratic Republic of Congo. The lender said that the support would cover around half of a response plan being discussed between the DRC government and an international consortium.
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