Africa Bounces Back , livre ebook

Pan Macmillan South Africa - Victor Kgomoeswana

Découvre YouScribe en t'inscrivant gratuitement

Je m'inscris

Obtenez un accès à la bibliothèque pour le consulter en ligne
En savoir plus

144 pages

English

Vous pourrez modifier la taille du texte de cet ouvrage

Obtenez un accès à la bibliothèque pour le consulter en ligne
En savoir plus

A propos
Informations
Extrait

Description

It has been nearly ten years since Africa is Open for Business was first published and Victor Kgomoeswana showcased the continent as a place of opportunity and fertile ground for business.

But, if recent headlines are anything to go by, then the current outlook seems dim. As a result of corruption, the deepening infrastructure backlog, including resistance to 4IR developments, and the current global pandemic, it seems the continent is fast running out of time. However, when asked if Africa is still open for business, Kgomoeswana confidently says, ‘It depends on your perspective.’
Africa Bounces Back draws on case studies that look at the continent’s response to COVID-19 and where it might leave us, how the shift from globalisation to more nationalist politics could impact the region amidst growing global terror and the tipping point of the African Continental Free Trade Area implementations.

Kgomoeswana also revisits previous case studies, including Ethiopian Airlines, China’s ongoing involvement in Africa and the ‘new normal’ innovations that have caused much-needed disruptions in their sectors. Africa Bounces Back is a reminder that even in the mist of crisis, a resilient spirit, decisive action and the correct perspective can lead to progress and, ultimately, success.

Sujets

Sustainable Development

Economic Development

Political

África

21st century

Economic growth

Politics

Development

Africa

Informations

Publié par	Pan Macmillan South Africa
Date de parution	15 juillet 2021
Nombre de lectures	2
EAN13	9781770107632
Langue	English
Poids de l'ouvrage	5 Mo

Informations légales : prix de location à la page 0,0652€. Cette information est donnée uniquement à titre indicatif conformément à la législation en vigueur.

Extrait

This book is dedicated to the memory of my late father, P.P. Kgomoeswana (the first author I knew and someone I can only hope to emulate), my late brother Gabriel and my late sister Tilly Mohlosana.
First published in 2021 by Pan Macmillan South Africa
Private Bag X19, Northlands
Johannesburg
2116
www.panmacmillan.co.za
isbn 978 1 77010 762 5
e- isbn 978 1 77010 763 2
Text © 2021 Victor Kgomoeswana
Foreword © 2021 Lesetja Kganyago
Brand Africa 100 © 2021 Thebe Ikalafeng
All rights reserved. No part of this publication may be reproduced, stored in or introduced into a retrieval system, or transmitted, in any form, or by any means (electronic, mechanical, photocopying, recording or otherwise), without the prior written permission of the publisher. Any person who does any unauthorised act in relation to this publication may be liable to criminal prosecution and civil claims for damages.
While every effort has been made to ensure the accuracy of the details, facts, names, events and places mentioned, the publisher and author welcome feedback, comments and/or corrections that could further enrich the book.
Editing by Sally Hines
Proofreading by Catherine Munro
Design and typesetting by Triple M Design, Johannesburg
Cover design by Hybrid Creative
Author photograph by Kwazi Magudulela

Contents
Foreword
Acknowledgements
Preface
1 The Francophone-Anglophone Derby
2 China vs US – Choose Sides
3 Making 5G Work for Africa
4 Tourism – After the Lockdown
5 The Business of Piracy in Africa
6 The Bulldozer Ain’t Playing with You!
7 World War III in the Nile River Basin
8 Meet Abiy Ahmed
9 Ethiopian Airlines – on Cloud Nine!
10 Intra-Africa Trade and AfCFTA
11 Powering the ‘Dark Continent’
12 COVID-19 and Fellow External Shocks
13 Nigeria and the Oil Curse
14 A Step Closer to the West African Chocolate Industry
15 Zimbabwe – Life after Mugabe
16 South Africa – Gateway to Africa
17 The Rising Importance of Transparency in Africa
18 JLo’s Angola
19 Unlocking Africa’s Sports and Cultural Industry
20 The Evolving Governance Environment in Africa
21 The Arab Spring – The Relevance of North Africa
22 Agribusiness – Africa’s True North
23 Mozambique – A Luta Continua!
24 The DRC – The Centre of the Universe
25 Côte d’Ivoire – Fast-Recovering Prodigal Son
26 Retail and Fast-Moving Consumer Goods
27 Fintech – The Way Money is Headed
28 Diversifying the Nigerian Economy
29 The Upside of Fighting Ignorance and Disease
30 Kenya Airways – Fasten Your Seatbelt
31 Africa’s Big Infrastructure Backlog and Its Positives
Brand Africa 100: Africa’s Best Brands

Foreword
When I first got involved with roadshows aimed at marketing South Africa’s debt in 1996 to international investors, I had no idea how challenging it would be. And even though we meticulously planned our representations and rigorously debated responses to negative sentiment, nothing prepared us for the sheer lack of knowledge about our country and continent. It was exhausting and oftentimes disheartening, but in many ways a personally rewarding experience. Our presentations would start with a map of the world, followed by the African continent and then show where South Africa is located. A proper geography lesson was thus a non-negotiable. Yet, investors would still ask the Minister of Finance what he plans to do about this or that African country. We reminded potential investors time and again that Africa is not one country but a continent with many countries. What Victor Kgomoeswana is doing with this book is to aptly demonstrate the varied and beneficial opportunities offered by the African continent in its diversity.
The famous Africa rising cover story of The Economist in December 2011 came after a decade of growth, which was mainly the result of the commodity supercycle. It was a decade that saw six of the ten fastest-growing economies in Africa. We witnessed African leaders conceptualise the New Partnership for Africa’s Development (NEPAD) in 2001. This laid a basis for a framework of engagement between the continent and the developed world. It was a home-grown solution. The commodity boom and Africa’s growth potential spurred it even further. Africa was on the rise. But the one constant in economics is that the business cycle will always be with us. The supercycle came to an end. African governments continued to ramp up public spending despite the writing on the wall. When the cycle ended, we realised we had been partying with booze borrowed from the rest of the world. Even with this realisaton, public spending continued to rise.
To sustain the increased public spending, the continent continued to borrow heavily from abroad. The benefits from the Heavily Indebted Poor Countries (HIPC) Initiative, set up by the International Monetary Fund, were quickly disappearing. Once again, we saw leaders clamour for funds, putting Africa back on the ‘begging-bowl’ list and shifting away from trade, back to aid. Like Icarus, Africa had a tough lesson to learn, but, with the determination of another mythical character, Africa can still rise from the ashes.
This book by Kgomoeswana paints a picture of hope. The continent is rebounding and the signs are promising.
Firstly, regions and countries that grow understand the potential of local trade and opportunity while embracing globalisation. Regions also grow because they trade with the rest of the world, learn to compete and ultimately grow market share. The African Continental Free Trade Agreement aims to unlock intra-African trade and thus growth. Currently, Africa lags behind other regions of the world in terms of continental trade. According to recent estimates, intra-Africa trade amounted to only 15% of total African trade in 2019.
Secondly, the continent can leapfrog technology to drive financial inclusion. The continent has already been at the forefront of low-cost mobile money solutions. What we need is a cost-effective, efficient and speedy cross-border remittances and settlement system. The central banks in southern Africa have been at the forefront of the inter-bank cross- country settlements. From 22 July 2013 to 30 April 2021, transactions to the value of R8.25 trillion have been settled on the SADC-RTGS platform, which represents more than 2.1 million transactions. The East African and West African regions have similar systems. Also on the cards, through the Association of African Central Banks, is a Pan-African Payments and Settlement System, connecting all regional systems to facilitate intra- African trade.
Thirdly, the continent must promote debt transparency in accordance with the Paris Club and the Institute of International Finance’s principles of fair debt restructuring. Our ultimate aim should be to keep HIPC as an option, and in our past, not our future.
Fourthly, we need to reap the demographic dividend. Youth unemployment should be seen as an opportunity, not a problem. Our young people are a resource that must be nurtured to benefit our beautiful continent. It means a push for meaningful and marketable educational opportunities.
Lastly, the COVID-19 shock to African economies has changed our ways of work and a return to a pre-COVID world is not an option. Rather, we should be asking ourselves how to embrace technology, finding new ways of working and growing the economy of our continent.
Kgomoeswana is sparking a debate that is serious and that challenges the way we think about Africa and the multitude of opportunities that are there for the taking.
The continent can and must bounce back. We owe it to the generations to come. To paraphrase one author, this is not the continent we inherited from our forebears, but it is a continent we have borrowed from our grandchildren and their grandchildren.
Lesetja Kganyago
Governor: South African Reserve Bank

Acknowledgements
My heartfelt gratitude and appreciation go to:
God for sustaining me through what was my toughest writing assignment ever.
My big, broad family for not crumbling around me when writing proved harder than I initially thought, especially my granddaughter, Keabetswe (who kept barging into my study to type a few words of her own).
My clients, media comrades, event organisers and venue owners for keeping the African discourse on track by embracing my tenacious optimism.
My business partner, Thapelo Mokhathi, for reminding me that we are on course when nothing seems to work.
My assistant, Colene Arendse, for loyalty.
Those friends, acquaintances and followers for continuously asking when the follow-up book to Africa is Open for Business would materialise.
Fellow Afro-optimists for their active affirmation when the outlook for Africa seems bleak.
Thebe Ikalafeng for his sterling work in profiling African brands and for contributing a special insert to this book.
Lesetja Kganyago, Governor of the South African Reserve Bank, for fitting me into his schedule between MPC meetings and other pressing matters.
The Pan Macmillan team, especially Andrea Nattrass, Sibongile Machika and Sally Hines (for being to me what Peter Bonnington is to Lewis Hamilton), Eileen Bezemer, Deborah Miloa and Terry Morris.
The bookstores, distributors and those who endeavour tirelessly to make books accessible and affordable.

Preface
‘Is Africa still open for business?’
The person asking me this question is a senior member of the South African Cabinet at a gala dinner, in the middle of his keynote address and out of the blue. He is staring at me under the bright lights. Everybody can see him, but they cannot see me – that is, until the mischievous spotligh