Business Chief Africa — February 2019

AFRICA EDITION FEBRUARY 2019 africa.businesschief.com

Digital disruption through innovation

Using technology to synergise global operations

Liberty Group A DIGITAL TRANSFORMATION OF THE INSURANCE SPACE

City Focus

KIGALI

A sustainable startup hub

TOP 10

Tallest skyscrapers in Africa

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WELCOME

W

elcome to the February issue of the Africa edition of Business Chief!

On the front cover of this month’s issue is Liberty Short-Term Centre of Excellence, the innovation hub created by Liberty Group and Standard Bank. As Liberty Group enters the short-term insurance market, the firms are using digitally disruptive tools to update the industry.

Elsewhere, Business Chief speaks with the Director of Strategy and Business Development at Interxion, Caroline Puygrenier, to discuss the challenges and opportunities connected to bringing data centre connectivity to the continent’s tech landscape.

Mauritian bank continues on its technology transformation journey, it continues to synergise its global operations. Zimbabwe’s Zimnat exclusively reveals how it is digitally disrupting the insurance sector.

This month’s city focus targets Rwanda’s Kigali. The city’s sustainability masterplan aims to preserve nature and build an eco-tourism park, and the Rwandan government is also investing in technology as a means of economic growth.

The issue looks at the top 10 tallest skyscrapers on the continent, which span across east, west and southern Africa.

Enjoy the issue!

Sophie Chapman sophie.chapman@bizclikmedia.com

Also featured in the magazine are SMB Bank and Zimnat. As the

a f r i c a . b u s i n e s s c h i e f. c o m

05

CONTENTS

10

Liberty Group

Digital transformation to educate customers

30 INTERXION

ENABLING DATA CENTRE CONNECTIVITY AMID THE DIGITAL DISRUPTION OF AFRICA

NUGGETS:

40

MERGING AND SECURITY ENCE CONVENI THROUGH IN BLOCKCHA

TRANSFORMING THE BOARDROOM: INSPIRING WOMEN IN STEM

50

74

KIGALI CITY FOCUS

60

Sustainability on a massive scale

86 TOP 10 TALLEST SKYSCRAPERS IN AFRICA

CONTENTS

100

SBM

Leveraging technology transformation

114

Zimnat

Digitally disrupting the insurance sector in Zimbabwe

130 BANRO CORPORATION

A journey of transformation through rehabilitation

10

LIBERTY SHORT-TERM INSURANCE: Shaking up South Africa’s insurance sector through digital disruption WRIT TEN BY

L AUR A MULL AN PRODUCED BY

JUS TIN BR AND

FEBRUARY 2019

TECHNOLOGY

11

a fri c a .busi ne ssc hief. com

LIBERTY GROUP

Liberty Group and Standard Bank have joined forces to create Liberty Short-Term Centre of Excellence, an innovative hub where digitally disruptive tools are being brought to the fore.

S

implicity, transparency and flexibility: this is a well-versed mantra at Liberty Group and it was also the shrewd

thinking behind its latest business venture. The South African business used to solely focus on life insurance but, more recently, the company 12

has made its first foray into the short-term insurance market, offering a quick and easy way to get car and household insurance through its brand-new unit, Liberty Short Term Centre of Excellence. Championing cutting-edge technologies, this business group is not only driving benefits for Liberty Group and its majority stakeholder Standard Bank, it’s also helping to deliver a customer experience quite like no other.

Deepesh Thomas helped to build the shortterm insurance business from scratch. Now Chief Executive Officer at the unit, he says that the Centre of Excellence was initially conceived as a “technology firm which would build the insurance and technology capabilities that didn’t already exist in the group”. It would also provide greater portfolio differentiation, allowing both Liberty Group and FEBRUARY 2019

TECHNOLOGY

13

Standard Bank to offer a wide range of solutions to its existing customers. Owning 54% of the firm, Standard Bank is not just a majority owner of the unit, it has also entered into a bancassurance agreement with the Centre of Excellence, allowing both entities to deliver complete financial services solutions to their respective clients. It’s been a vital relationship according to Leon Vermaak, Standard Bank Group Head of Insurance, who points out that, because the business is “unencumbered by legacy strategies and infrastructure” it is able to develop “future proof technologies”. He adds: “Keeping a fri c a .busi ne ssc hief. com

LIBERTY GROUP

the innovation unit separate from

within minutes. “The product itself is

the mainstream business truly builds

significantly differentiated,” explains

confidence in its ability to pursue

Thomas, claiming that it was actually

innovation.”

“the first short-term insurance chatbot

One such technology which made

release in South Africa that allows for

the headlines was the Centre of

end-to-end performance”. Essentially

Excellence’s chatbot. The culmination

this means that the customer can go

of over two years’ worth of research,

and buy a short-term insurance product

the speedy bot allows customers to

through the chatbot in a matter of

access short-term insurance services

minutes. “At that time, it was the only

at their fingertips 24/7. There’s no

product on the market where you

endless paperwork or red tape. In fact,

could buy short-term insurance within

customers can secure insurance

eight minutes from end-to-end without

14

“ Being a new business entity, we were afforded the luxury of building from scratch” — Deepesh Thomas, Chief Executive Officer at the Liberty Short-Term Centre of Excellence

FEBRUARY 2019

TECHNOLOGY

CLICK TO WATCH : LIBERTY SHORT-TERM INSURANCE

having to talk to a call centre agent,” he

whatever way they prefer, whether

elaborates, highlighting how the usual

that’s through the mobile app or web

call centre process could take over half

interface. It’s a significant differentia-

an hour and is only available during office

tor, Thomas argues, because it’s truly

hours. With a personable demeanour

disrupting the customer experience

and easy-to-understand language, the

and giving them greater control. “For

chatbot is also available 24/7. As such

example, if a customer is using the

Vermaak argues that “it aligns itself with

chatbot or a digital channel and they

the needs of the online world” where

want to resume the enquiry at a later

clients “want insurers to be proactive,

date on a different channel then they

convenient and always available”.

can do that on the digital channel or

Not only is the chatbot a click

they can also switch and decide to talk

away, it’s also omnichannel, meaning

to an agent whenever they want”.

that customers can interact with it

Another key advantage of the chatbot a fri c a .busi ne ssc hief. com

15

LIBERTY GROUP

16

“ It was the only product on the market where you could buy short-term insurance within eight minutes end-to-end without having to talk to a call centre agent” — Deepesh Thomas, Chief Executive Officer at the Liberty Short-Term Centre of Excellence

FEBRUARY 2019

TECHNOLOGY

17

a fri c a .busi ne ssc hief. com

LIBERTY GROUP

18

that Thomas details lies in the technol-

APIs and services easily, for instance.”

ogy underpinning it: it’s fully built in the

Collaboration and the sharing of ideas

cloud, specifically Microsoft Azure.

is often touted as a key driver of success

“Being a new business entity, we were

in the technology market and it’s one

afforded the luxury of building from

which Vermaak echoes. “The insurtech

scratch,” Thomas explains. “The

world is by necessity one based on

biggest challenge that most financial

partnerships. Success is determined

services companies in South Africa

by bringing together unique capabili-

face is that they’ve built systems from

ties in a seamless manner, rather than

the 1960s onwards and lots of ineffi-

trying to build and own the ecosystem,”

ciencies have crept in. It also limits your

he observes, citing Microsoft’s cloud

flexibility if you want to roll out a new

platform as a critical asset. “We found

product. On the other hand, a cloud

Microsoft particularly supportive. We

platform allows you to integrate new

gained ‘early adopter’ status, which

FEBRUARY 2019

TECHNOLOGY

19

E X E C U T I V E P R OF IL E

Deepesh Thomas Deepesh Thomas is a qualified Chartered Accountant and MBA graduate from the University of Cape Town.

He started his career in Audit, later moving to Management Consulting and finally specializing in Insurance where he was part of the core team that founded the Liberty Short-Term business. His passion lies in applying bleeding edge technology to complex business challenges and customer pain points.

Outside of work, Deepesh can be found visiting new travel destinations in the hope of eventually checking-off every country in the world.

a fri c a .busi ne ssc hief. com

HARNESS THE POWER FIND OUT MORE HERE

3012 William Nicol Drive | Bryanston | Johannesburg | 2191 | PO Box 5817 | Rivonia | 2128

Switchboard (Not for Technical Support): +27 11 361 9000 | Microsoft Customer Care Center: 0860 2255 67

EMPOWER EVERY PERSON AND EVERY ORGANIZATION ON THE PLANET TO ACHIEVE MORE

Microsoft South Africa’s mission is to empower every person and organisation on the planet to achieve more. The breadth and depth of our mission unlocks unprecedented opportunity as technology transforms every industry and has the power to make a difference in the lives of everyone. Our mission is grounded in both the world in which we live and the future we strive to create and speaks to our worldview, which is rooted in the intelligent edge and intelligent cloud.

The intelligent edge is the interface between the cloud and the real world. It is the layer of devices we use to access the data in the cloud, speeding up the processing power of the internet of things, helping this new world to react faster to changing conditions, and become more efficient.

In this new world our clients are looking to digitally transform their businesses and to drive empowered experiences for the employees and customers. Microsoft exists to help them realise this through the solutions we build. Our Business applications, Applications and Infrastructure, and Data and Artificial Intelligence (AI) solutions, are designed to help accomplish effective digital transformation, by empowering employees, engaging customers, optimising operations and transforming products. Through gaming, Modern life, and Modern workplace we are driving quality engagement to create empowered experiences.

Microsoft is democratising technology so that every business can truly harness the power of this digital era. We are leaders in Artificial Intelligence (AI), embedding intelligence everywhere, and enabling every individual and organisation to leverage the power of AI affordably, efficiently and effectively.

The power of this emerging technology presents a huge opportunity, but it also comes with a huge responsibility. Our approach is built around trust,

inclusion and ethical AI. We work hard to ensure compliance with key privacy enactments, such as GDPR and POPI. In the cybersecurity space we have led cross-industry initiatives, like the Cybersecurity Tech Accord, and have called on governments to do more, through initiatives such as a Digital Geneva Convention. We are also working to ensure we translate our industry-leading research in AI into broadly implementable tools and guidance that everyone can leverage ethically and responsibly.

Microsoft believes that to empower every person and organisation on the planet we must enable the communities in which we work. In the past year Microsoft has invested more than US$ 2.8 million in education and skills development often as part of public-private partnerships. In Gauteng we have partnered with the Provincial Government to develop online mass learning system Thint’iMillion and nationally we have partnered with the Department of Education to train 8000 teachers enabling them to leverage technology and drive STEM as career opportunity for learners.

Over the past three years, Microsoft has invested more than US$25-million in more than 2,300 NGOs across South Africa. Our latest investments include equipping 100 Youth Employment Services community hubs with Office 365, partnering with the Sun Flower Fund to improve targeted donor recruitment through bone marrow mapping and AI and working with the Peace Parks Foundation to use AI to fight poaching.

Microsoft partners with organisations to develop internet connectivity in underserved communities.

We are currently driving two key projects, in Limpopo and the Eastern Cape, that leverage TV White Space technology to provide broadband Internet access.

LIBERTY GROUP

“ Success is determined by bringing together unique capabilities in a seamless manner, rather than trying to build and own the ecosystem. We found Microsoft particularly supportive” 22

— Leon Vermaak, Standard Bank Group Head of Insurance

E X E C U T I V E P R OF IL E

Leon Vermaak Leon Vermaak is a seasoned insurance executive, having served as CEO of Santam, Sanlam and Telesure. He has a keen interest in Fintech and Insurtech and is guiding the digitisation of Standard Bank Group’s Insurance operations.

Vermaak holds a B.Comm degree and MBA from the University of Pretoria as well as a PhD in Innovation Management from City University in London. When he’s not dabbling in insurance, he can be found climbing a mountain in some exotic, remote location.

FEBRUARY 2019

TECHNOLOGY

23

ensured deep technical support

transparency. With its intuitive chatbot,

and knowledge transfer,” he says.

it sounds like Liberty Short-Term

This chatbot could be seen as indicative of a wider shift in the insurance and insurtech markets.

Insurance is going the extra mile to make this a reality.

But the company’s chatbot is just

Customer expectations are changing

the beginning: it has taken its innova-

too; through Liberty’s research,

tive approach one step further by also

one of the pervading messages that

introducing telematics to its mobile

emerged was that customers disliked

app. This will allow customers to

applying for insurance as they found

complete a two-week driving test that

the process cumbersome and difficult

will help the insurer calculate a fair pre-

to understand. They were looking

mium quote. For good drivers, it could

for more affordable and efficient

even result in savings. Named ‘Drivers

insurance services with greater

Test’, it measures how aggressively a fri c a .busi ne ssc hief. com

LIBERTY GROUP

24

“ In South Africa, safety’s a big concern to a lot of our customers, so we’ve built in a button on our mobile app which when clicked can dispatch medical emergency assistance to you” — Deepesh Thomas, Chief Executive Officer at the Liberty Short-Term Centre of Excellence

FEBRUARY 2019

TECHNOLOGY

customers drive or how distracted they tend to be whilst on the road. “We price you based on traditional insurance parameters but we also measure how you drive and adjust your premium downwards if you are a good driver,” describes Thomas.

Telematics may not be a new innovation for the South African market, but Liberty Short-Term Insurance is putting a new spin on the traditional model. First of all, unlike typical insurers which ask you to install a cumbersome physical device, Liberty’s solution is mobile-based. Additionally, the insurer has also scrapped the idea of daily monitoring in favour of shorter trips which build up an accurate profile of a customer. “From the research we’ve conducted, we found that a customer’s average driving behaviour doesn’t deviate significantly throughout the year,” says Thomas. “Therefore, we can collect data from just 300km or 25 trips and understand who you are as a driver.” One other startling difference that Thomas underlines is the fact that many insurance companies offer loyalty or reward points following these tests which make it difficult for redemption. In contrast, Liberty offers a simple cash reduction on their premium.

Once the Driving Test has been completa fri c a .busi ne ssc hief. com

25

LIBERTY GROUP

ed, the customer doesn’t have to have their driving habits tracked. However, on an opt-in basis, Thomas points out how they can choose to share more of their driving data with the firm in exchange for Uber credit for every 500km of driving information shared. In a world where ‘cash is king’, it’s proven to be a successful model. Safety is increasingly becoming a top talking point in the insurtech sector and it’s one which hasn’t gone amiss at the Liberty Short-Term Centre of Excellence. “In 26

South Africa, safety’s a big concern to a lot of our customers, so we’ve built in a button on our mobile app, that when clicked can dispatch medical emergency assistance to you. It can also dispatch roadside assistance, based

“ We are obsessed with ‘one-clickinsurance’ and we are also seeking to derive unique customer insights, enabled by access to various data sources, machine learning, as well as image recognition, and the Internet of Things (IoT)” — Leon Vermaak, Standard Bank Group Head of Insurance

on your live location that’s on your phone or it will dispatch home services,

implemented a lean and agile method-

such as a plumber or electrician.”

ology to drive efficiencies in software

With its digital transformation in full

development. It also strives to work

swing, innovation has become a key

with only the best software developers,

talking point at both Liberty Group and

relying on what Thomas describes as

Standard Bank. This is not only visible

a “fundamental relationship” with

through Liberty’s outward products

Retro Rabbit.

and services but it can also be seen

Looking forward, the firm has plenty

internally. For instance, the Liberty

of exciting innovations up its sleeve.

Short-Term Centre of Excellence has

“We are obsessed with ‘one-click- in-

FEBRUARY 2019

TECHNOLOGY

27

surance’ and we are also seeking

pursue next, Thomas feels that the

to derive unique customer insights,

business will remain laser-focused on

enabled by access to various data

three key values — simplicity, transpar-

sources, machine learning, as well as

ency and flexibility — which he believes

image recognition, and the Internet

is critical for insurtech success.

of Things (IoT)” says Vermaak.

Meanwhile, Thomas highlights key trends like computer vision as an enticing technology for the future. Yet, regardless of what innovation it will a fri c a .busi ne ssc hief. com

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LEADERSHIP

30

FEBRUARY 2019

INTERXION: ENABLING DATA CENTRE CONNECTIVITY AMID DIGITAL DISRUPTION Caroline Puygrenier, Director of Strategy & Business Development, Connectivity at Interxion , explores the challenge and opportunity of bringing successful data centre connectivity to Africa’s booming tech landscape WRITTEN BY

DA LE BENTON

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LEADERSHIP

A

frica’s digital landscape is skyrocketing and as PwC commented in a report on Africa’s digital revolution, it has far less

legacy to get in the way than in other regions.

This, the report continues, creates a “clean sheet upon which companies can develop their own distinctive business models” and more importantly, represents a sea of untapped commercial opportunity for technology companies to explore.

One such company that is doing exactly that, is Interxion. Interxion is the interconnection for the world’s leading businesses, providing data centre solutions and services to more than 2000 customers across Europe. In recent years however, 32

Interxion has set its sights firmly on Africa and its burgeoning digital landscape. In late 2018, Interxion announced that it had invested into Icolo, operators of Kenya’s first neutral data centre. With this investment, Interxion has made its first steps towards expanding across Africa and has already announced plans on building a second data centre in Nairobi in the near future.

Spearheading this expansion is Caroline Puygrenier, Director of Strategy & Business Development, Connectivity at Interxion, who works closely with platform customers, cloud service providers and content providers in order to define the company’s expansion strategy.

Africa, she feels, is one market that she most certainly feels has yet to be capitalised on.

“Working with major clients across Europe, one of FEBRUARY 2019

33

“ One of the markets that’s been fairly untapped is Africa. We’ve learned that serving Africa from Europe, Asia or the Middle East has not been the most efficient way of doing this at the moment” — Caroline Puygrenier Director of strategy & business development, connectivity

a f r i c a . b u s i n e s s c h i e f. c o m

LEADERSHIP

the trends that we’ve seen with one of our data centers in Marseille is the need for some of the content providers or cloud service providers to expand further out and to discover where the next billion users will come from,” she says. “One of the markets that’s been fairly untapped is Africa.

We’ve learned that serving Africa from Europe, or from Asia or from the Middle-East has not been the most efficient way of doing this at the moment.”

To this end, Interxion has worked closely on a number of large-scale 34

submarine cable projects with local and international operations including Vodafone, Orange and MTN. This, Puygrenier feels, provides her and her team with a keen understanding of the network reach in Africa and more importantly being able to plot expansion plans around Africa for co-location sites.

One thing she has noted, is the change in conversation surrounding network connectivity. “Conversations that we had pre-2016 were centred around small capacity ad-hoc projects like one or two submarine cable projects,” she says, “Since then however, there has been a huge push from those large scale companies to increase the number of FEBRUARY 2019

“ 2019 is going to be a critical year for us as we look at our strategy to see where it has worked and where it hasn’t and then we will look to have Nairobi finished too where it hasn’t” — Caroline Puygrenier Director of Strategy & Business Development, Connectivity

cable projects around Africa to make sure that Africa is connected to Europe, the Middle East, as well as South America and back to American continents on a much higher capacity and much more latency sensitive. Its preparing for the big companies to deploy their products here in Africa.”

Having built its name across Europe, turning its attentions to Africa is not going to be a simple process. There is no one size fits all and so, through the investment into Icolo, Interxion is taking direction from a local operator.

Icolo provides Interxion with knowledge of the intricacies of the African market, the regulations as well as the opportunities and barriers for entry. “We don’t a f r i c a . b u s i n e s s c h i e f. c o m

35

LEADERSHIP

want to come and try and reinvent the wheel here because we’ve been successful elsewhere,” says Puygrenier.

“So, we work with this local partner and we listen to our customers. We ask our customers what they want, where they want to go. We are not going to go and open a data centre in a location just because we think it’s the right thing to do. We approach our expansion with that local vision and customer interaction in order to grow in the right direction and for the right reasons.”

36

“ We don’t want to come and try and reinvent the wheel here because we’ve been successful elsewhere” — Caroline Puygrenier Director of Strategy & Business Development, Connectivity

FEBRUARY 2019

CLICK TO WATCH : ‘CLOUD-CONNECT – WWW.INTERXION.COM’ 37 In recent years, Microsoft has stated

industry best practice that can be

its intent to build a number of data

replicated by future market entrants.

centres across Africa and South Africa,

This belief is echoed across Interxion’s

as the tech giant recognises the dynamic

customer base. “Our customers are

and diverse market opportunities that

telling us that they want to move to

the African continent can bring. When

Africa in a well-established manner,”

such an influential player in this market

says Puygrenier. “Look at our work

makes a move it creates a ripple effect,

in Kenya. We build a partnership, we

others will soon follow or at the very

evaluated the market together and we

least explore the opportunity to follow

established a very successful data

suit. Puygrenier is wise to this and feels

centre. Now, that allows us to evaluate

that it highlights a major apetitie and

other opportunities because we’ve

push to operate in Africa but it also

found a foothold and we’ve done it in

creates a standardisation, Microsoft

a successful way already.”

will enter the African market with

Interxion can point to its hugely a f r i c a . b u s i n e s s c h i e f. c o m

LEADERSHIP

successful portfolio of both customers

potentially some network nodes from

and data centre sites across Europe

these content providers and cloud

but how does it measure success

service providers,” she says. “Whereas

in Africa? With its first data centre

in Nairobi it might be more, sort of com-

in Kenya already clocking a year

pute and enterprise. So, with bigger

of operation, what lessons has the

density and bigger deployments.”

company learned and how will it take

38

Ultimately, Interxion’s decision is

them forward in its future operations?

based on listening to the customer.

Puygrenier believes that a key lesson

“We evaluate as and when its needed

learned is one of size and connectivity,

and when the customer says to us,

pointing to a data centre planned

‘good job in Kenya but let’s look at

for Nairobi that’s twice the size of its

Nairobi or somewhere else and let’s

Kenya site. “What we’ve learned is

look at a larger operation,’” she

that for our customers in Mombasa,

says. “We’ll say, ‘You know, what

Kenya, it’s connectivity that comes

type deployment will you have in

first. People from submarine cables

those locations? Is it going to be

will interconnect with each other and

network? Is it going to be compute or

FEBRUARY 2019

a mix of both? What size do you need?

What interconnections do you need?

finished too,” says Puygrenier.

“It’s about evaluating what’s next.

You know, do you need submarine cable

We will expand our partner relation-

interconnectivity?’ We listen to our

ships and start to achieve what we

customers and in doing so it guides us

want to achieve.”

on where we do it and when we do it.”

The future is extremely bright for Interxion and almost two years into its journey across Africa, the company can already look at successes it has achieved with its Kenya operation and is already implementing these into its plans for its Nairobi expansion. “2019 is going to be a critical year for us as we look at our strategy to see where

39

it has worked and where it hasn’t and then we will look to have Nairobi

a f r i c a . b u s i n e s s c h i e f. c o m

TECHNOLOGY

40

FEBRUARY 2019

: s t e Nugg

g n i g r e m d n a y t i secur e c n e i n conve h g u o r h t n i a h c block

r e d n u o f n i Blockcha s n i a l p x e n o ns h o J r i a t s a Al of e r u t u f e h w hy t s t n e m y a p s s e l h s a c e r u c se ive t p u r s i d e h lies with t technology… W R IT TE N B Y

CK O L IV IA M IN N O

a f r i c a . b u s i n e s s c h i e f. c o m

41

TECHNOLOGY

H

aving bank details lost or stolen is something many of us have experienced, but as technol-

ogy continues to disrupt the finance industry

the lengthy process of resolving the problem

seems increasingly archaic. This was certainly the case for Alastair Johnson, founder and CEO of blockchain startup Nuggets, upon losing his own card details. When he eventually received his replacement card, he had to re-enter new informa-

tion on dozens of websites and was struck by the 42

lack of both convenience and security at a time when data breaches were making the headlines.

“You wouldn’t write down your mother’s maiden name, email address and national insurance (NI) number on a post-it note and leave it in every cash till on the high street – but in a digital sense we do that all over the place,” he comments.

The experience prompted Johnson to found Nuggets, which promises to help customers “take back control” of their data in 2016. The ecommerce payment and ID platform allows users to store their payment details on blockchain technology to achieve a single sign-on method which means personal data doesn’t need to be shared with multiple organisations. “You can transact securely and verify your identity without somebody having access to that data and being able to take over FEBRUARY 2019

43

a f r i c a . b u s i n e s s c h i e f. c o m

TECHNOLOGY

“ You can’t compete against WeChat Pay and AliPay but you can add value to them” — Alastair Johnson, Founder and CEO, Nuggets

44

FEBRUARY 2019

CLICK TO WATCH : ‘NUGGETS – TAKE BACK CONTROL OF YOUR DATA’ 45

your information. If a business doesn’t

Johnson cites two reasons for the

log the personal data in their central-

failings we see in the headlines. “There

ised silos in the first place, it can’t be

are people who don’t understand tech

breached,” Johnson explains.

and are being victimised for that and

With breaches at large tech compa-

there’s the other side where people do

nies cited as a ‘tipping point’, a recent

understand it and they’re trying to do

study by Gartner has found for the

best practices but those options where

first time that privacy is becoming

you have to log in with a username and

more of a priority over convenience for

password still exist.”

consumers – in 2009, it was reported

A key challenge for any tech company

that consumers remained unwilling to

then, no matter which platform is being

sacrifice convenience to keep their

provided, is to ensure convenience while

data secure. As organisations battle to

also assuring customers that keeping

develop their cybersecurity offerings,

their data secure is top priority – but for a f r i c a . b u s i n e s s c h i e f. c o m

TECHNOLOGY

Johnson’s single sign-on vision this presents more of an opportunity. “It actually gets more convenient with all the security, because you’re not passing around usernames and passwords: you’re verifying ID across a network.

So, it’s a lot more secure and convenient – you get the best of both worlds.”

STAYING SECURE IN A CASHLESS SOCIETY In an increasingly cashless landscape, Johnson explains how a single sign-on 46

system using blockchain will enable various societies to complete the

“ If a business doesn’t log the personal data in their centralised silos in the first place, it can’t be breached” — Alastair Johnson, Founder and CEO, Nuggets

transition away from cash and even card. “Now we have the technology to leapfrog plastic with a funded digital

ID to that payment app, so it allows

identity which can then be associated

access to my payment but I don’t need

with a digital watch or fitness band. It’s

a plastic card that the numbers can be

crazy that we’re still relying on this bit

copied off?’”

of plastic with a chip to come through

Tying in with the development of

in the post a week after it’s been

open banking which will involve closer

cloned,” Johnson argues, adding that

collaboration and data sharing,

cashless has yet to go far enough.

Johnson feels that the future of ID

“Even though you have Apple Pay and

technology should be agnostic. “In the

Android Pay, we’re still adding a plastic

past, you’ve seen a lot of wallet apps

card of information to make that work

from different schemes, but wouldn’t

as a secure payment source. At Nuggets,

it make sense that they all tied back

were saying ‘why don’t I add my digital

to the same APIs and services? When

FEBRUARY 2019

47

mobile phones first came out, you

Pay, serving over one million merchants

could only ring other people on the

across Asia. This partnership will mean

same network – this only lasted about

Alipay and WeChat Pay users can use

six months. In the early days, everyone

a digital ID to make payments as

comes out with their version but at the

opposed to attaching these to a bank

end of the day, the agnostic approach

card. “You can’t compete against

is going to be a winner.”

WeChat Pay and AliPay but you can

In China, fast becoming the home of

add value to them,” says Johnson.

cashless payments, Nuggets has

“Currently you’re going back to plastic

entered into a partnership with mobile

to enable them – you’re basically

payment technology, service and

rerouting to the old system. The potential

solution provider QFPay, which is used

is that you have your login and maybe

by epayment giants Alipay and WeChat

your profile data within your own realm a f r i c a . b u s i n e s s c h i e f. c o m

TECHNOLOGY

but it can be used for those products and services.” In Asia and further afield, Johnson is keen to highlight the potential of ID technology for business, particularly for SMEs. “It enables small businesses, people at food festivals or taxi drivers to transact without that chunky terminal. The potential for the smaller is immediately accessible… and this can also benefit larger businesses as well.”

A BLOCKCHAIN BASED FUTURE 48

“ It’s a lot more secure and convenient — you get the best of both worlds” — Alastair Johnson, Founder and CEO, Nuggets

For Johnson, blockchain technology was a clear choice in implementing a more secure and convenient platform.

“We spent time looking at other solutions to get to the same point – the key one being zero knowledge storage. Existing systems that do zero knowledge storage are quite clunky, and often they’ve got root level access to providers and such like. With blockchain, only the user has the key to their information,” he explains. “We have zero knowledge, we have the decentralised network, and we have encryption to an extremely high level – so blockchain ticked many boxes.” In addition, blockchain allows a kind of credit history to be set up due FEBRUARY 2019

Alastair Johnson discusses personal data storage @Retail Risk 2018

to the log it takes of every activity. “If you go and do 100 different payments to different places it demonstrates proof that you are a good actor on the network to the next person – you don’t have to be risk assessed.”

For any blockchain founder – and Johnson isn’t just ‘any’ founder, having been shortlisted for ‘Blockchain Founder of the Year’ at the 2018 BMW i UK Tech Founder Awards – it is often necessary to play the part of evangelist for this

Seema Khinda Johnson, Co-Founder and COO, Nuggets

fairly new technology which is often mistrusted or misunderstood, but even in the past six months Johnson says the potential is finally being recognised.

“It’s not just an intriguing tech conversation now – we’re starting to see real use cases coming out for blockchain and being applied. 2018 has brought the understanding of how consumers can react closely with the blockchain.

In years to come, people won’t know or care if they’re on the blockchain; it’ll be fixed into life,” he anticipates.

a f r i c a . b u s i n e s s c h i e f. c o m

49

PEOPLE

50

TRANSFORMING THE BOARDROOM: INSPIRING WOMEN IN STEM Business Chief takes a look at what some leaders are doing to promote gender diversity in traditionally male-dominated industries, and the rewards they are already reaping… WRITTEN BY

OLIVIA MINNOCK

FEBRUARY 2019

51

a f r i c a . b u s i n e s s c h i e f. c o m

PEOPLE

T

hroughout the past year,

that Finastra sees itself as a regional

Business Chief has spoken to

sponsor of inclusion and diversity.

various business leaders about

“Something very close to my heart is

the importance of gender diversity,

creating a more diverse workplace –

especially in the traditionally male-

how do we get rid of unconscious bias?”

dominated field of technology. Sev-

52

eral organizations are taking big steps

MENTORS AND ROLE MODELS

to improve their gender balance and

Aside from efforts made by large cor-

promote female role models, while

porations, Gupta says it’s important for

many argue women must still work

women and men alike to be proactive

hard and motivate themselves and

and keen to learn. “While it’s important

one another to prove themselves in

to have role models, don’t wait for the

male-dominated sectors.

organisations to give you those models.

Speaking to our new FinTech Maga-

Go out and seek a coach who will listen

zine, Finastra’s APAC Marketing Leader

to you, is someone you trust, and is will-

Smita Gupta discusses the cultural

ing to commit time and be part of your

issues in creating a diverse workforce.

career journey.”

“People from each country have behav-

Vicki Batka, Vice President of Cisco’s

iours and attitudes driven by where

APJ Partner Organisation, echoes the

they come from, but it’s never too late

importance of mentoring, and she her-

to change,” she comments, adding

self acts as a mentor. She has noticed

“ If organisations want to fuel innovation, diversity and inclusion are key” — Smita Gupta, Finastra

FEBRUARY 2019

53

a f r i c a . b u s i n e s s c h i e f. c o m

PEOPLE

3%

of females say tech is their first career choice

27%

of females would consider a career in tech

16%

Stats taken from: PwC Women in Tech

54

of females have had tech suggested to them as a career

that for some, a conversation with an

‘I’ve got two; I’ll go for it’. Sometimes,

experienced leader is all it takes.

you’ve just got to go for it. I spend a lot

“Especially when I talk to females, usu-

of time talking to people about how to

ally they know what they need to do,

use their network.”

they just need someone to listen and

Gupta adds that those already in

help reassure them,” Batka comments.

leadership positions should strive to

As a mentor, she sees self-image as a

open up opportunities. “My call out to

key challenge faced by women espe-

women leaders, and male leaders who

cially in STEM fields. “A female will

have been successful, is to throw out

look at a job spec with 10 attributes

the ladder to the one behind them,

and say ‘I’ve only got five so I won’t be

whether male or female, and create

successful’, whereas a male might say

opportunities for others.”

FEBRUARY 2019

55

“ I think we see a lack of embracing opportunities in females. Sometimes, you’ve just got to go for it” — Vicki Batka, CISCO

a f r i c a . b u s i n e s s c h i e f. c o m

PEOPLE

“Role models are very important,” emphasises Andy Pearson, Managing Director at Santander UK Technology.

“We are participating in the Thirty Per Cent Coalition where we have role models, both men and women, to mentor women in our organisation, and women at Santander are being mentored by those from other organisations.” Santander is committed to having a mix of men and women across its tech-led workforce. “Gender diversity is very important to us,” Pearson adds, commenting that Santander 56

was a founding signatory of the HMRC Women in Finance Charter.

HARD WORK AND MOTIVATION Acknowledging that “women in the world are coming into the room at a disadvantage”, Amy Jadesimi, Managing

“ If you want to be successful as a woman, you have to be able to work hard and be extremely brave and strategic” — Amy Jadesimi, LADOL

FEBRUARY 2019

Jadesimi adds that organisations can however facilitate this, coming back to the importance of having someone to look up to. “I like to think that we can help by publicising what myself and other women have been able to achieve, as well as publicising how important it is to governments and corporations to have women succeed.”

FOSTERING DIVERSITY What else can an organisation do to foster a diverse workforce, both between genders and more broadly?

“It’s about how you create a more equitable workforce. As managers, Director of Nigerian oil and gas fabrica-

sometimes we are too blinded by the

tion and logistics base LADOL, says it’s

job spec. When I’m interviewing some-

still up to women to put in that extra bit

one, even if they don’t have the

of work in order to be recognised

immediate skill set I need for the job

among their male peers. “You do have

role, but I know they have the passion

to prove yourself – you have to be ‘bet-

and fire in their belly, I am willing to

ter than’ in order to be considered

invest in them and give them the oppor-

‘equal to’… if you want to be successful

tunity to thrive. We should look at

you need to be prepared to work hard.

identifying those hidden talents and

If you want to be successful as a

creating opportunities for those around

woman, you have to be able to work

us,” says Gupta.

hard and be extremely brave and stra-

Batka agrees that especially in tech-

tegic. Be brave enough to make tough

nology which changes so quickly,

choices. The tough choice in this case

softer skills like adaptability are impor-

is the choice society doesn’t expect.”

tant and a diverse range of people a f r i c a . b u s i n e s s c h i e f. c o m

57

PEOPLE

should be considered to fit the bill.

“At Cisco, we’re hiring people from very diverse backgrounds, not just technology.” For Cisco, diversity takes many forms. “Some people just think ‘women’, but for our region it’s also about ethnicity. We’re quite fortunate in Asia: a lot of women work and lead businesses in the Southeast Asia region in particular. But you have other countries where they don’t. All we can do is lead by example. A lot of companies talk about diversity, but Cisco truly believes and demonstrates it.”

58

REAPING THE REWARDS

“As organisations expand and want to target various markets, a diverse team they can be your eyes and ears in giving you those insights” — Vicki Batka, CISCO

Gupta, among others, is keen to outline the very real impact fostering a diverse workforce can have. It’s no longer seen as a positive CSR step, but in fact ben-

Diversity of course extends to a vari-

efits an organisation’s bottom line and

ety of cultures, abilities and skill sets as

is becoming a key strategic advantage.

well as genders. “If you draw on a vari-

“Enough research has been done to

ety of cultures, this insight allows you to

show it impacts the bottom line and the

serve customers better,” says Gupta.

profitability of the organisation,” she

“As organisations expand and want to

explains. “If organisations want to fuel

target various markets, when you have

innovation, diversity and inclusion are

a diverse team they can be your eyes

key. With more diverse leadership teams,

and ears in giving you those insights.

companies can earn more from inno-

You can look at clients’ needs from a

vation with higher EBITDA margins

completely different perspective.”

as well.”

FEBRUARY 2019

On a national and global level, vari-

59

ous studies have shown that

can help them and encourage people

supporting women in the workplace

who aren’t giving access to think differ-

adds significantly to GDP. “There is no

ently about what women can

country in the world right now that can

contribute.”

afford not to invest in and take advan-

Batka, too, is pleased with the tan-

tage of that,” comments Jadesimi.

gible results Cisco has seen in APAC

“Corporations could increase their bot-

and beyond thanks to its commit-

tom line by 40% just by supporting

ments to diversity, and looks forward

women. I think it’s really important to

to more progress in the future. “In the

show the economic rationale for those

old days, the IT industry was a boys’

women who don’t have a voice, an edu-

club,” she concludes. “Not anymore.

cation or other opportunities, so we

We’re here, and we’re different.” a f r i c a . b u s i n e s s c h i e f. c o m

S U S TA I N A B I L I T Y

sustainability on a massive scale 60

We speak to Shannon Thomas Carroll, Director of Global Environmental Sustainability at AT&T, to see how the telco giant is harnessing sustainability across its massive operations‌ WRITTEN BY

ANDRE W WOODS

FEBRUARY 2019

61

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S U S TA I N A B I L I T Y

A

ligning the notion and practice of sustainability within the biggest companies on the planet is no small

undertaking and AT&T – founded by Alexander Graham Bell – is no exception. The world’s largest telecommunications company and ranked number nine on the Fortune 500, this

giant multinational conglomerate has just over 270,000 employees and posted a 2017 revenue of $190.5bn. This is a holding company whose operations spread out over numerous sectors and territories and to seek a sustainable road map at such a business 62

is as complex as it is integral.

Shannon Thomas Carroll is Director of Global Environmental Sustainability at AT&T and possesses a rich knowledge of both the company’s operations and its sustainable practices as he works to reduce the environmental impact of the telco’s operations. His key accomplishments include “being the internal driver for large scale renewable energy, zero-waste, and supply chain human rights audits”.

Carroll has been with the company for almost 20 years, having served in several different capacities across the 133-year-old conglomerate. “I’ve worked on a consumer side, the business side of the house and on the network side,” he explains. “So I’ve had lots of different FEBRUARY 2019

63

“ AT&T has an energy intensity goal, relative to its network, to be 60% more efficient” — Shannon Thomas Carroll, Director of Global Environmental Sustainability at AT&T

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S U S TA I N A B I L I T Y

roles. I spent a lot of time in project

mental sustainability while I was still

management, as well as with a couple

in supply chain and was lucky enough

different business units. I did project

to transition that into a full-time role

management and compliance for our

over on the corporate side. I took that

supply chain; that’s one of the things

supply chain focus and expanded it

that transitioned me into my current

to a corporate view. Now my responsi-

role. On the compliance side, you have

bilities are specific to environmental

things like environmental health and

sustainability within our operations.

safety and that was one of the transi-

So, anything that has an environmen-

tional topics that really got me interest-

tal impact within our four walls is, gen-

ed in this work. Then I just started

erally speaking, something I would

asking for more work around environ-

look at.�

64

FEBRUARY 2019

CLICK TO WATCH : ‘AT&T HELPS RESTORE COMMUNICATIONS AFTER HURRICANE MATTHEW’ 65 AT&T has had a long history of corporate social responsibility, even if it wasn’t always labelled as CSR. “We

also seeing how we can have the most sustainable business practices possible.”

One of the first things Carroll explored

have an extensive history of strong

when he stepped into his current role

energy management and corporate

was AT&T’s greenhouse gas footprint.

real estate management,” Carrol

Carroll monitored all the different

explains. “We looked at things like

aspects of scope 1, scope 2 and scope

waste water, and obviously there

3 through an inventory to gather the

are natural financial incentives to use

required information. “Once we had

those resources, but you also want to

that information, we had it verified by

look at being a good corporate citizen.

an independent third party,” he explains.

What are the positive environmental

“That was a great introduction to the

impacts of doing that? I see my role,

job because I got to touch all parts of

first and foremost, as looking into what’s

the business when undertaking a cor-

going to be best for the company, while

porate greenhouse gas footprint. From a fri c a .busi ne ssc hief. com

S U S TA I N A B I L I T Y

66

there you then start looking at some of

important. You’re looking internally, but

the larger responsibilities, such as waste

you’re also looking externally. You’re

and how you dematerialise. What

trying to think strategically while you

projects have been done? What was

still have the practical responsibilities

successful? What wasn’t successful?

to get the job done.”

What maybe didn’t happen in terms of

As the scale of operations at AT&T

timing and can you pick up the ball again

is so vast, Carroll liaises with Chief Sust-

and start trying to work with what hasn’t

ainability Officer, Charlene Lake. They

been done? You have to be strategic in

operate at what Carroll describes as

your thinking. You’ve got to read the tea

the ‘inc. level’ or the corporate side of

leaves and see how the wind’s blowing

operations. “The advantage that gives

externally as well. There’s obviously an

us is we can go into all parts of the

importance to the business and what

business, essentially representing the

our stakeholders are asking of us is

company. What’s really important

FEBRUARY 2019

though is that we don’t just walk into

With support from AT&T’s corporate

the different business units and say,

level, Carroll and his team launched

‘This is what you’re gonna do!’ We have

10X Goals. AT&T’s renewable energy

to be good business partners, whether

investments are a part of this carbon

it’s internal or external. We’re very lucky

reduction goal, helping to enable

that sustainability really is at the core

carbon savings 10 times the footprint

of a lot of our work. So, as we go in to

of AT&T’s operations by 2025. “We

talk to our network folks or our corpo-

have somebody who works full-time

rate real-estate folks, or our supply

on that making sure the methodology

chain folks, they’re already doing a lot

is sound,” says Carroll. “We have some-

of this work. What we try to do is help

body who’s working on the numerator

frame that work and see what we can

part of that, making sure that our pro-

amplify; see what we can do better. We

ducts and services can deliver that.

just try to partner with them.”

You have me, I’m on more the denomi-

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67

S U S TA I N A B I L I T Y

nator side. I’m trying to shrink our own operational footprint so it makes it easier to achieve it. We’re very lucky. We are a large company, but we have the right amount of resources addressing sustainability here.”

One of the challenges Carrol cites as specific to large-scale renewable energy is that first time you put the practice into action. Thus, off-site research is essential in getting these methods right. “We’ve obviously been looking at renewable energy options 68

for years and years and years. We did have some onsite solar and we just knew, because of our scale, that if we’re going to have a significant impact we needed to look offsite at the largescale renewable energies. We look at what others are doing and then try to

FACTS

• AT&T’s renewable energy website, provides an overview of the deals the company announced this year and their impact: Click here for website • AT&T’s 10x website, which outlines the 10x goal and includes case studies of the company working with customers to reduce their environmental footprint: Click here for website • AT&T’s sustainability reporting website, which includes the information from the company’s annual CSR report: Click here for website • The Energy Management issue brief: Click here for website

figure out if that’s something that could potentially work for us. You do a lot of

go from a relatively small renewable

research and then bring that research

energy concern to one of the largest

and those findings home. We would

corporate buyers in the United States?

then start stakeholdering those. I’d say

A lot of education has to be done,

the biggest challenge is because you’ve

in getting people familiar with new

never done it before, you have to edu-

terminology. I’d say that’s the biggest

cate a lot of folks on what it is and how

challenge; the newness of it all.”

it works and how the mechanics of it

In reference to large scale renew-

work. What does it mean for AT&T to

able energy, AT&T is one of the top five

FEBRUARY 2019

69

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S U S TA I N A B I L I T Y

corporate renewable energy buyers in

even if people don’t know it by name,

the US. “The fact that we were able to

they’re doing the work. These are folks

scale up so quickly is a credit to the

who do sustainability for a living. We

professionalism we have on our energy

already have folks who are trying to

management team. I would say the

save as much water as they can. They’re

thing I’m most proud of is just the scale

already trying to remove as many kilo-

’cause what you’re really looking for is

watts as they can from the business.

impact. We’re proud of the 820 mega-

They’re already trying to be as efficient

watts we’ve done so far. We’re the

as they can.”

evangelists. We’re going around talking

AT&T has an energy intensity goal,

about all the benefits. The interesting

relative to its network, to be 60% more

thing is when you go into the different

efficient. Carroll wants to push more

business units, my experience is that

data through the network using the same,

70

FEBRUARY 2019

or less energy. “We have a public goal around that. We have a public goal to

“A few years ago, we worked with EDF on our water footprint. We’re always looking at every aspect of our operations” — Shannon Thomas Carroll, Director of Global Environmental Sustainability at AT&T

reduce our fleet emissions by 30%.

We have lots of public goals that are already tagged at this work and within the business units.

They just have their heads down and are doing the really hard work to achieve this. When we come into departments and explain it’s really about the work that they’re already doing, the light bulbs go off and they become really good business partners. We’re constantly looking at the landscape in terms of the environment. A few years ago, we worked with EDF on our water footprint for example. We’re always looking at every aspect of our operations.”

Technology is driving sustainability and AT&T is largely a technology company thus possessing a read edge when it comes to finding solutions.

“I would say just about everything we do has a technology component,” Carroll explains. “For example, we’ve got a project called Icon. It’s basically our internal IoT solution, where we’ve put sensors on all types of internal equipment, including network equipment, a fri c a .busi ne ssc hief. com

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S U S TA I N A B I L I T Y

“ We’re proud of the 820 megawatts we’ve done so far. We’re the evangelists. We’re going around talking about all the benefits”

72

— Shannon Thomas Carroll, Director of Global Environmental Sustainability at AT&T

FEBRUARY 2019

HVACS, water towers, everything you can think of. We then actively monitor that through our Icon dashboard and are able to look at predictive and preventative maintenance. Are things running as efficiently as they should? If they aren’t, how can we maximise their efficiency? There’s a lot of data out there, so the key is not just having accessibility to data, but being able to do something smart and good with it. We need to make good, smart decisions around that data.”

“I think it’s important when you’re a company our size that you’re comprehensive. You need to have a short-term plan, a mid-term plan and a longterm plan. You have to think strategically, you have to look far down the line.

You just can’t say you’re going to do this and that. You have to be transparent in the way that you do it. And you have actually have to do it.”

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CITY FOCUS

KIG City Focus

74

We take a look at Rwanda’s vibrant, creative capital WRITTEN BY

SOPHIE CHAPMAN

FEBRUARY 2019

GALI a f r i c a . b u s i n e s s c h i e f. c o m

75

CITY FOCUS | KIGALI

K

nown for its clean streets and progressive technology startups, the capital city of Rwanda offers

visitors a vibrant, creative, and cultural view of East Africa. Following on from its turbulent history, communities now meet for the monthly Umuganda — in which the population, including the president, clean the streets.

ARTS AND CULTURE With tourists often visiting the nation to immerse themselves in the nature of what is 76

known as the land of a thousand hills, Kigali can attract visitors away from safaris and into the city with its booming restaurant scene. The land-locked country relies on its Lake Kivu to offer fresh fish, whilst Rwanda’s hills and volcanic soil provide the perfect conditions for growing coffee. The city’s art culture is known to attract tourism, with sites ranging from a former presidential house turned museum to the Niyo Art Gallery – which shares its profits with the Niyo Cultural Centre to fund the education of street children. The centre, located in the north of the city, teaches traditional Rwandan dancing, drumming, and singing.

FEBRUARY 2019

The Niyo Cultural Centre helps to fund and educate some of Rwanda’s street children

77

a f r i c a . b u s i n e s s c h i e f. c o m

CITY FOCUS | KIGALI

‘ W ITH TOURISTS OFTEN VISITING THE NATION TO IMMERSE THEMSELVES IN THE NATURE OF WHAT IS KNOWN AS THE LAND OF A THOUSAND HILLS, KIGALI CAN ATTRACT VISITORS AWAY FROM SAFARIS AND INTO THE CITY WITH ITS BOOMING RESTAURANT SCENE’

78

A TECH HUB

to create more than 100 technology

The Rwandan government is focusing

companies that are worth RWF43.7bn

its financing within the technology

($50mn) by 2030. The Rwanda Devel-

industry as it aims to develop a knowl-

opment Board (RDB) was introduced

edge-based and middle-income

as an administrative department to

economy. In 2016, Innovation City was

target investment and innovation hub

launched to meet this goal. The

development in the nation, and has

strategy has led to the government

since enabled companies to launch

establishing a RWF87.5bn (US$100mn)

technology hubs in the capital city.

venture fund with a goal attached –

The RDB cites “sustained economic

FEBRUARY 2019

Rwanada relies on Lake Kivu for its supply of fresh fish

79

growth”, “robust governance”, “investor

Johnson, the Co-Founder and Chief

friendly climate”, “access to markets”

Executive Officer of Andela, a software

and “excellent labour markets” as

engineers-focused firm that estab-

reasons to invest in its operations.

lished a hub in the city through RDB

“In Kigali, we have found a location

earlier this year.

that makes travel to-and-from other African countries seamless and also

4G INFRASTRUCTURE

has the modern and connected infra-

In 2016, the government initiative Inno-

structure we require to collaborate

vation City saw the city covered in an

with a global workforce,” stated Jeremy

infrastructure of fibre optic cables that a f r i c a . b u s i n e s s c h i e f. c o m

CITY FOCUS | KIGALI

CLICK TO WATCH : AFRICAN INSIDER: HOW RWANDA’S CAPITAL KIGALI BECAME THE CLEANEST CITY IN AFRICA’ 80

has enabled 95% of Kigali to be con-

Nyarugenge Hill, was developed by the

nected to 4G LTE. In November 2018,

Ultimate Concept Limited consortium.

the initiative received RWF350bn

Prime Holdings Limited, the Social

($400mn) in funding from Africa50,

Security Fund of Rwanda, and the

the pan-African infrastructure invest-

Rwanda Investment Group invested

ment company.

a total of RWF262.5bn ($300mn) into the project. Construction began on the

THE CONVENTION CENTRE

iconic building in 2009 and was com-

Kigali has seen a rise in its role as a host,

pleted seven years later in 2016. The

with events such as the Audiovisual

shape and light features on the struc-

Forum and Rwanda BUILDEXPO

ture symbolise the innovative and

taking place in the The building, estab-

technologically-advanced future of the

lished approximately three miles east

city, which was substantiated when the

from the central business district on

centre won the award for Best Archi-

FEBRUARY 2019

tectural Design at the Africa Property Investment Summit this year.

KIGALI 2040 A masterplan, dubbed Kigali 2040, has been set for the city. The strategy features environmental and nature preservation plans, infrastructure devel-

1.2mn Approximate population

95%

Connected to 4G LTE

opment, and technology advancements.

By the deadline, Kigali’s population of 1.2mn people is forecast to triple.

The government will be required to find the space to increase residential capacity across the natural landscape without destroying it, calling for high-

RW2.44bn Estimated cost of the Nyandungu wetland project

rise buildings.

In keeping with the city’s sustainable future, the Rwanda Environment Management Authority (REMA) has revealed plans to transform the Nyandungu wetland into an urban recreation and eco-tourism park. The RWF2.4bn ($27mn) project will be under construction for five years. Upon completion, the park will enable biodiversity conservation across native trees and aquatic habitats, as well as creating new jobs in the city. “The project is part of a plan to improve clean air, protect environment but also provide green a f r i c a . b u s i n e s s c h i e f. c o m

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CITY FOCUS | KIGALI

‘ T HE SHAPE AND LIGHT FEATURES ON THE STRUCTURE SYMBOLISE THE INNOVATIVE AND TECHNOLOGICALLY-ADVANCED FUTURE OF THE CITY, WHICH WAS SUBSTANTIATED WHEN THE CENTRE WON THE AWARD FOR BEST ARCHITECTURAL DESIGN AT THE AFRICA PROPERTY INVESTMENT SUMMIT THIS YEAR’

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FEBRUARY 2019

83

Photo: www.kigalicc.com a f r i c a . b u s i n e s s c h i e f. c o m

CITY FOCUS | KIGALI

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“ I N KIGALI, WE HAVE FOUND A LOCATION THAT MAKES TRAVEL TO-AND-FROM OTHER AFRICAN COUNTRIES SEAMLESS AND ALSO HAS THE MODERN AND CONNECTED INFRASTRUCTURE WE REQUIRE TO COLLABORATE WITH A GLOBAL WORKFORCE” STATED JEREMY JOHNSON, THE CO-FOUNDER AND CHIEF EXECUTIVE OFFICER OF ANDELA, A SOFTWARE ENGINEERSFOCUSED FIRM THAT ESTABLISHED A HUB IN THE CITY THROUGH RDB EARLIER THIS YEAR” — Jeremy Johnson, Co-Founder and CEO,Andela

environment for citizens to spend their time off in sports and enjoying the environment,” stated Dr Vincent Biruta, Rwanda’s Minister of Natural Resources.

The masterplan aims to separate Kigali into three districts: Nyarugenge, Kicukiro, and Gasabo. Nyarugenge will form the city’s financial hub, with Kicukiro becoming the knowledge hub, and Gasabo to focus on employment and culture. “We have got different sections where we have the financial hub and the central part of the city, Gasabo district is considered as an

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85

employment hub, where we are looking forward to seeing different categories of industries, while in Kicukiro we will have universities and recreational parks,� stated Lilian Mupende, Director of Urbanisation at Kigali City Council, when the plans were released.

The forward-thinking city is demonstrating clear signs of progression, focusing its financing on sustainability, technology, and infrastructure with the aims of attracting more tourism to the cultural heart of Rwanda.

a f r i c a . b u s i n e s s c h i e f. c o m

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TOP 10 Tallest Skyscrapers in Africa Business Chief has created a list of the tallest skyscrapers Africa has to offer, spanning from Tanzania to South Africa. The measurements are according to The Council of Tall Buildings and Urban Habitat (CTBUH).

WRITTEN BY

SOPHIE CHAPMAN

a f r i c a . b u s i n e s s c h i e f. c o m

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T O P 10

88

10 Reserve Bank Building

486ft (148m)

Located in Pretoria, South Africa, The office building features 40 floors – 38 above and two below ground.

Construction began on the modernist skyscraper in 1986 and was complete by 1988. The structure was created using 80,000 cubic metres of concrete and features a commissioned sculpture by Johan van Heerden.

www.resbank.co.za

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Photo Š Arup

89

09 Pearl Dawn 499ft (152m)

The residential tower, developed by VVE Property Group, features 31 floors and a total of 120 apartments. The futurist styled building can be found in Umhlanga, South Africa – a coastal town north of Durban. Construction for Pearl Dawn began in 2006 and was complete four years later.

Seedat & Seedat were responsible for the architecture, with Arup designated as structural engineer of the project.

www.arup.com

a f r i c a . b u s i n e s s c h i e f. c o m

Photo © Adamina

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08 The Marble Towers 499ft (152.1m)

In Johannesburg’s Central Business District, the Marble Towers stands as South Africa’s third largest building. The tower was developed in 1973 using a mixture of concrete and marble with 32 storeys. Initially the commercial office structure was referred to as the Sanlam Centre, but has since been renamed. The main contractor for the project was Grinaker LTA, the South African construction group with offices in Johannesburg, Durban, Cape Town, and Port Elizabeth, as well as the UK and Mauritius.

www.grinaker-lta.com

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07 PSPF Towers 501ft (152.7m)

The Public Service Pensions Fund (PSPF) of Tanzania launched its first major real estate in 2015 with the PSPF Towers. The buildings can be found in the business district of the nation’s capital city, Dar es Salaam. The 35-floor mixed-use office space

Photo Š David Stanley

is priced at approximately US$2,200 per square metre. The project was built by Al Hatmy Engineering in 2011 and reached completion in 2014, with the office operational by the end of 2015.

www.alhatmyoman.com

a f r i c a . b u s i n e s s c h i e f. c o m

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06 Tanzania Ports Authority HQ 515ft (157m)

Tanzania-based Estim Construction built the country’s tallest building, which is the headquarters of the 92

Tanzania Ports Authority. The firm finished constructing the tower along Sokoine Drive in Dar es Salaam’s port in 2015. The structure is 35-storeys tall and made from concrete, designed by K&M Archplans Ltd.

www.ports.go.tz www.estimconstruction.com www.kmarchplans.com

Photo © K&M Archplans FEBRUARY 2019

Photo © Kaizenify Wikimedia UG Nigeria

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05 NECOM House 526ft (160.3m)

NECOM House has taken several names, formerly being called both NITEL Tower and NET Building. The Lagos-located structure with 32 floors has held the title of tallest building in West Africa since its completion in 1979. The concrete house is the headquarters for the Nigeria telecommunications firm, ntel. On top of the building sits a spire used as a lighthouse beacon for the city’s harbour. Ghana’s Nickson Borys & Partners designed the tower and the UK’s Costain Group plc were the main contractor for the project.

www.ntel.com.ng www.costain.com a f r i c a . b u s i n e s s c h i e f. c o m

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Photo © UAP Old Mutual

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04 UAP Old Mutual Tower 535ft (163m)

Located in Nairobi’s Upper Hill neighborhood, the UAP Old Mutual Tower stands at 33-floors tall. The building surpassed the Times Tower as Kenya’s tallest building in 2016 upon its completion.

Times Tower had previously held the position for 15 years. The structure is approximately two miles from the city’s central business district and is owned by UAP Old Mutual Group, Kenya’s financial services conglomerate. Sh4bn (US$40mn) was spent on developing the tower, where construction lasted five years.

www.uapoldmutual.com

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03 Ponte City Apartments 567ft (172.8m)

Ponte City was built in 1975 in the Berea suburb of Johannesburg. The tallest residential skyscraper in Africa, the cylindrical building has 55 floors. Designed by Mannie Feldman, Manfred Hermer, and Rodney Grosskopff, the shape of the building allows for “the core” – the iconic open centre of the building which enables more light to enter the apartments.

During the 1990s, proposals were made to change the purpose of the building into a prison. The tower features the largest neon sign in the southern hemisphere, which currently advertises for Vodacom.

www.vodacom.co.za a f r i c a . b u s i n e s s c h i e f. c o m

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02 Britam Tower 656ft (200.1m)

Britam Tower became the tallest building in Kenya in 2017, overtaking UAP Old Mutual Tower. The structure is owned and developed by the British-American Investments Company (Britam). The office was designed by architects GAPP Architects & Urban Designers and Triad Architects, with Howard 96

Humphreys (East Africa) responsible for structural engineer works. Laxmanbhai Construction was the main contractor for the 31-storey concrete project, located on Hospital Road, Upper Hill.

buyonline.britam.com www.gapp.net triadarchitects.com www.laxconke.com

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a f r i c a . b u s i n e s s c h i e f. c o m

T O P 10

01 Carlton Centre 730ft (222.5m)

The multi-use, 50-storey tower is located in downtown Johannesburg.

The R88mn (US46.4mn) building is home to offices and retail facilities.

Skidmore, Owings & Merill designed the skyscraper, with construction beginning late 1960s on the site of the demolished Carlton Hotel. The building began being occupied in 98

1971, but construction did not formerly finish until 1974. The top floor offers 360-degree views of South Africa’s largest city. Once the largest building in the southern hemisphere, the building’s former hotel once hosted celebrities and politicians such as Whitney Houston, Margaret Thatcher and Hillary Clinton.

www.som.com www.gauteng.net/attractions/ carlton_centre

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a f r i c a . b u s i n e s s c h i e f. c o m

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TECHNOLOGY

SBM LEVERAGES TECHNOLOGY TRANSFORMATION TO SYNERGISE ITS GLOBAL OPERATIONS

WRIT TEN BY

OLIVIA MINNOCK PRODUCED BY

JUS TIN BR AND

a f r i c a . b u s i n e s s c h i e f. c o m

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SBM BANK

SBM’S ASHWIN RAMPHUL DISCUSSES HOW THE COMPANY’S DIGITAL TRANSFORMATION JOURNEY IS ALLOWING IT TO LEVERAGE THE LATEST TECHNOLOGY TO SYNERGISE ITS GLOBAL OPERATIONS

C

urrently the second largest bank in the country with a 25% market share, SBM Bank (Mauritius) Ltd is part of the SBM Group, a leading financial

group in Mauritius, with over 1,600 employees in Mauritius and a growing international presence. The Group is 102

also present in Kenya, India and Madagascar and, from early next year, the Seychelles. Last year, SBM Group acquired a majority stake in Kenya’s Fidelity Commercial Bank Limited followed this year by the acquisition of selected assets and liabilities of Chase Bank (in receivership), which has positioned SBM Bank (Kenya) Ltd as a top Tier 2 Bank on the Kenyan market, with more than 60 branches across the country and around 700 employees.

SBM is also the first foreign bank in the world to have obtained a Wholly Owned Subsidiary Licence from the Reserve Bank of India to operate as a full-fledged wholly owned subsidiary on the Indian market. SBM is also expected to start operations in the Seychelles early next year. With digitalization as one of its strategic pillars, the bank is working to leverage the industry leading technology platform from Infosys Finacle, to provide the best possible customer experience in a digital world, as well FEBRUARY 2019

TECHNOLOGY

103

as improve its operations from within.

Head of IT Application at SBM, Ashwin Ramphul, was keen to discuss this digital transformation. Ramphul boasts 18 years of experience in IT, and has been heavily involved in the implementation and management of core banking systems and digital solutions for a number of financial institutions across Africa, Mauritius and the Indian Ocean. a f r i c a . b u s i n e s s c h i e f. c o m

SBM BANK

Ramphul spent most of his career in the banking and consultancy space,

get the project done and by April, it

where he occupied a number of key

had successfully gone live.

positions in IT, and recently joined SBM

104

and his team hit the ground running to

Keenly aware of SBM’s place in the

where he was ready to take on new

banking sector, Ramphul believes it is

challenges within the finance industry.

“imperative” for SBM to implement

At SBM, Ramphul is responsible for

innovative digital solutions in order to

all IT applications used on both the

surpass its main competitors. This is

customer side as well as internally. He

key not only in terms of customer

also heads the Project Management

service (with the likes of SBM’s new

Office and the Business Solutions Group.

mobile banking platform), but also in

“When I joined the bank in January,

the inner workings of the bank itself.

one of the key projects was the upgrade

“If we want to go digital outside, our

of the internet banking and mobile

processes and operations within the

banking platform,” he recalls. Ramphul

bank need to be fully digital as well,”

“ We can’t go digital outside if our processes and operations within the bank are not truly digital” — Ashwin Ramphul, Head of IT Application, SBM

FEBRUARY 2019

TECHNOLOGY

he explains. “That’s why we’re really

With this in mind, SBM has invested

looking at the end-to-end and inside-

in digitalising and improving internal

out processes.”

processes and efficiencies, while also

Part of SBM’s aim is to offer potential

enhancing customer experience.

digital channels to fulfil customers’

Processes within the bank are being

expectations and financial needs. “In

robotised and several avenues are

Mauritius, traditional branches still

now being explored to enable the bank

have a big role to play in serving

to become a “truly digital financial

customers,” he explains, citing the

services institution”.

country’s ageing population who will

“We’re looking at RPA, AI and data

always prefer going to their local

analytics, and at some point we were

branch and having someone to talk

also investigating the use of Blockchain

to, meaning a balance must be struck

technology – our intention is very strong

between digital innovation and the

on these fronts,” says Ramphul. For

expectations of clients.

example, Infosys Finacle RPA is now E X E C U T I V E P R OF IL E

Ashwin Ramphul is Head of IT Application at State Bank of Mauritius (SBM). He joined the company in January 2018 and has been responsible for digital transformation at the bank, including the upgrade of its internet and mobile banking platforms.

Previously, Ramphul worked at MCB Group, the largest bank in the country, for 16 years and was responsible for core banking systems.

Ramphul holds an MSc in Analysis, Design and Management of Information Systems from the London School of Economics and Political Science, which he obtained following a BSc in Business Information Systems with Management at Middlesex University. a f r i c a . b u s i n e s s c h i e f. c o m

105

SBM BANK

used to process inward remittances at SBM – this has reduced processing time from over 15 minutes to just 2-3 minutes, and as Ramphul adds: “The advantage with robots is that they operate on a 24/7 basis.”

With operations spanning in Kenya, India and soon the Seychelles, Ramphul is keenly aware that SBM’s customers will increasingly demand and expect to be able to bank digitally at their convenience. “We’re present in countries where innovations and digital solutions have really hit the roof. India is like 106

a honeypot where digital solutions are concentrated, and Kenya has the highest digital penetration point in the whole of Africa. Our technology partners such as Infosys Finacle have tremendous experience in these markets, and we are constantly leveraging their expertise. One of the key things with technology is user experience, so revamping the user interface for our internet banking and mobile banking customers was a necessity. We really felt they needed to have a proper user experience (UX), which is more modern, more appealing and more user friendly, so it was necessary to move to a more digital-friendly solution for FEBRUARY 2019

“ With technology, we are able to deploy our staff to do true value-adding tasks and more revenuegenerating initiatives, instead of getting bogged down with administrative tasks” — Ashwin Ramphul, Head of IT Application, SBM

TECHNOLOGY

both internet and mobile banking.

“Nowadays, everyone has a smartphone and most companies use corporate banking through the internet – so the issue of security is getting a lot more attention,” he adds. “We felt we needed more secure internet and mobile banking solutions than our competitors, so we came up with some security features no other banks have in Mauritius.”

One such solution has been the use of biometrics – fingerprint recognition – to access mobile banking. This is a first for Mauritius, and for Ramphul this is a strong message to our customers that SBM values security.

Ramphul also comments that to work for a bank which innovates it is imperative to ensure that an optimal level of security is in place. “When I joined SBM, I was pleasantly surprised to see that the level of cybersecurity, and even the level of general IT security, are incredibly strong. Everything is properly controlled and the right tools are in place.”

The IT operating model of an organisation also plays a significant competitive role. “Most of our systems are managed by a system integrator,” says Ramphul. “Having said that, we do realise that we cannot rely solely on a f r i c a . b u s i n e s s c h i e f. c o m

107

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TECHNOLOGY

CLICK TO WATCH : ‘NOU PEI NOU DRAPO! NOU PEI NOU LALIMIER! LAME DAN LAME, NOU LINDEPANDANS!’ 109 third party systems and partners,

system integrators with the expertise

especially when it comes to customer

and technology that are so vital to

service and innovation. The most

development. SBM is therefore working

innovative banking ideas normally

to rebuild some internal capacity for

surface from within the organisation

strategic innovation, and looking at how

and that’s where you get flexibility

to utilise the best technology that will

and rapidity rather than going fully

truly add value to its operations. “For

outsourced. For this, one requires

example, the implementation of robotic

a capable, agile team; flexible technol-

process automation (RPA) in some of our

ogy platform; and reliable partners,”

key processes has yielded good results

he adds.

– this was done with a third-party provider

It’s therefore a careful balancing act between those who work within the

in collaboration with our team.”

This kind of collaboration is vital in

bank and understand what it needs and

building the partnerships that make

what the customer expects, and those

SBM work. “If you don’t have a good a f r i c a . b u s i n e s s c h i e f. c o m

SBM BANK

“ We always do our market research and have a proper business case in place to ensure that any solution we bring in will truly add value” — Ashwin Ramphul, Head of IT Application, SBM

#TECHNOLOGY. VALUE DRIVEN. BDO IT Consulting helps clients implement their IT strategies through dedicated teams of business specialists, project managers, system integrators, IT and data protection consultants, IT auditors and cyber security experts E: bdo.it.consulting@bdo.mu | W: www.bdoitconsulting.mu

TECHNOLOGY

be at its optimum operating capacity, otherwise it doesn’t work. We really need to be on our toes and make sure everything is being developed in the proper way – it’s not about being a watchdog over them, but being collaborative and guiding them as well as them guiding us and making sure that the relationship is working.”

With a well-established international presence, a key challenge for the bank going forward will be to maintain levels of quality and brand expectations whilst also catering for the local communities it serves. “The market context is very working relationship with the service

different in Mauritius, India and Kenya,”

providers, everything goes down the

Ramphul comments, “so before we

hole,” Ramphul comments. “You need

bring in any kind of solution or innova-

to be agile. It needs to be a two-way

tion we always do our market research

working partnership. We can’t just

and have a proper business case in place

expect a system integrator to do every-

to ensure that any solution we bring

thing for us. We need to understand our

in will truly add value.”

customer requirements and communicate those to our service providers.

Already, SBM has launched a plethora of digital solutions and the bank’s digital

“This relationship needs to be devel-

transformation journey is still ongoing.

oped and nurtured, not only in terms of

It has been vital to keep staff on board

contractual agreements – there needs

with all the new developments and

to be trust. We need to understand each

implement proper change manage-

other properly. That’s where a true

ment. “When we launched the new

vendor-customer relationship needs to

internet banking and mobile banking a f r i c a . b u s i n e s s c h i e f. c o m

111

SBM BANK

for instance, we had to train all our front-end staff,” Ramphul explains.

Corporate customers were accompanied with small teams of experts to ensure they understood the new platforms and the value the changes were adding. “We were present with our corporate customers before and during the launch, guiding them through the new system.”

When it came to individual customers, SBM’s customer service centre was vital. “Our contact centre played 112

20%

Domestic marketshare

1973

Year founded

1,500+

Approximate number of employees

an important role in this – we had to ensure that all staff were up to scratch in terms of competency, knowing what the platform was all about. One of the ways of doing this was to involve them in our user testing. They were an integral part of the project,” he says.

Ramphul is confident that the bank

trative tasks. The second aspect of

is already reaping the rewards of

technology is in terms of reducing

implementing new digital solutions,

human errors – the cost of errors can

both from a customer service perspec-

be really huge, like a manual error

tive and through automating operations

where a transaction is duplicated and

within the company. “With technology,

processed twice… the risk of this with

we are able to redeploy our staff to do

solutions like robotics is mitigated and

more value adding tasks and more

minimised, so the cost of errors goes

revenue generating initiatives, instead

down significantly.”

of getting bogged down with adminisFEBRUARY 2019

Moving forward, SBM will look to

TECHNOLOGY

113

synergise its digital solutions across its key markets in order to grow in a sustainable, successful way. “The most important strategic initiative we should really be focusing on is to leverage our group digital offering in Kenya, India and Mauritius, have this digital ecosystem in place and work toward making it a success,� says Ramphul.

a f r i c a . b u s i n e s s c h i e f. c o m

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Digitally disrupting the insurance sector in Zimbabwe

FEBRUARY 2019

TECHNOLOGY

115

WRITTEN BY PRODUCED BY

DALE BENTON JUSTIN BRAND

a f r i c a . b u s i n e s s c h i e f. c o m

Z I M N AT

Through a digital transformation, Zimnat brings Zimbabwe’s insurance space into the digital age

F

or over seven decades, the people of Zimbabwe have placed their trust and belief in

Zimnat to protect their assets, manage 116

their wealth and ensure that their assets and funds are passed onto future generations. Over the past two decades, however, the global financial services industry has radically trans-

industry is evolving and as Zimbabwe

formed, and technology has become

further opens its arms to technology

the key driver.

and innovation, we want to be at the

As the global industry continues this

forefront,” says Mustafa Sachak, CEO

evolution, Zimbabwe has been playing

of the Zimnat Group. “We want to

catch up. But with over 15mn mobile

position ourselves as the first ones to

customers and around six million

both create and implement a digital

internet users in 2018 alone, now is the

offering to customers here in Zimbabwe.”

time for Zimbabwe to fully embrace the

As the industry evolves, so does the

technology conversation and leading

customer and Sachak is keen to stress

companies like Zimnat will play a key

that when Zimbabwe fully embraces

role in this shifting landscape.

technology, it will be defined and driven

“From a global perspective, the FEBRUARY 2019

by the customer. With more than 15mn

TECHNOLOGY

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a f r i c a . b u s i n e s s c h i e f. c o m

TECHNOLOGY

“ Through our digital transformation we have been able to find customers who would never be able to find us through traditional means” — Mustafa Sachak, CEO, Zimnat

digitally enabled customers, through internet and mobile usage, the financial customer of today demands one thing: speed. “People want convenience and they want ease of use,” he says. “The CEO of Amazon Jeff Bezos put it best when he said that the customers of today are divinely discontent as their expectations are never static.

“They will see insurtech offerings happening on the global financial stage and they’ll expect that from us. That’s what set us on our journey.”

E X E C U T I V E P R OF IL E

119

Mustafa Sachak Mustafa is the CEO of the Zimnat Group which includes Zimnat General Insurance, Zimnat Life Assurance, Zimnat Asset Management, Zimnat Microfinance, Grand Reinsurance and Botswana Insurance Company. The Zimnat group has partnered with Sanlam which is now the largest non-banking financial services group in Africa.

Mustafa started his career at Motorola in the USA where he spent 10 years in various roles starting as a process engineer before moving to Zimbabwe in October 1996 to pursue a different career path.

Mustafa has a BSc in Chemical Engineering from University College London, a BSc in Electrical Engineering from Florida Atlantic University and an MBA from Florida International University.

a f r i c a . b u s i n e s s c h i e f. c o m

Z I M N AT

“ Our digital journey speaks to our responsibility to educate them and change that perception. That’s our purpose, making people’s lives better. That’s what drives us” 120

— Mustafa Sachak, CEO, Zimnat

That journey is an ambitious digital transformation, not only of Zimnat’s insurance offering but of Zimbabwe’s entire insurance space. As the company prepared to embark on this transformation journey, it needed a roadmap defined by the customer experience.

Sachak notes that in this digital age, it is no longer good enough to satisfy the customer. A company has to go above and beyond to exceed the customer expectation and ensure that it is providing the greatest customer experience possible. In the insurance space, the customer journey begins from the very moment they lodge a claim. “From that moment, to the time we

FEBRUARY 2019

TECHNOLOGY

CLICK TO WATCH : ”TOGETHER WE CAN MAKE LIFE BETTER” 121 actually pay the claim, there are a series

from protecting customers from risk

of touchpoints along the way,” he says.

with financial products to actually

“This digital journey is all about under-

preventing risk in the first instance.

standing and improving that customer

“Data is the new gold,” he says. “Big

experience. Companies that create

Data, Blockchain, Artificial Intelli-

exceptional customer experiences can

gence… technologies like these will

really set themselves apart from their

enable us to leapfrog the competition.

competitors and that’s what we are striving to achieve with Zimnat.”

In order to better understand the

“Having the ability to use digital technologies to actually help prevent risk from occurring through making

customer experience, Zimnat has

intelligent predictions, that would be

invested in data analytics. For Sachak,

completely game-changing.”

the long–term ambition will be for

The challenge that comes with data

Zimnat to be able to utilise Big Data and

capture, particularly as an insurer with

Artificial Intelligence in order to move

millions of clients and customers, is a f r i c a . b u s i n e s s c h i e f. c o m

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TECHNOLOGY

turning that data into a real and quantifiable value. To this end, Zimnat has implemented a number of dashboards that are readily accessible to all internal staff and advisors. Through these dashboards, Zimnat can dig deep into customer data to create a rounded picture of the customers and their behaviour in order to provide them with relevant services and solutions. “Through data analytics we can really personalise our service offering for customers because not all customers will want the same insurance cover,” says Sachak. “Once you start to analyse that customer and look at how they engage with Zimnat then we can offer solutions specific to them.”

“At the moment this is very generic, but as we grow and the technology

“ Through data analytics we can really personalise our service offering for customers because not all customers will want the same insurance cover.

Once you start to analyse that customer and look at how they engage with Zimnat then we can offer solutions specific to them” — Mustafa Sachak, CEO, Zimnat

matures here in Zimbabwe there is incredible potential.”

experience. Additionally at the senior

Data analytics in particular is

level, the Zimnat Group has recruited

something that Sachak is extremely

a Chief Digital Officer and a Group

passionate about and has ensured

Marketing Executive.

that Zimnat has invested in the right

As a result of challenging economic

resources to support this data

environment over the past 20 years,

enablement, creating a full time data

insurance penetration in Zimbabwe

analytics role as well as a marketing

has been stuck at around 1.5%. Rewind

and digital officer to continue to better

the clocks back to the 1990s and

understand and improve the customer

insurance penetration painted a f r i c a . b u s i n e s s c h i e f. c o m

123

Z I M N AT

£70mn Approximate revenue

1946

Year founded

540

124

Approximate number of employees

FEBRUARY 2019

TECHNOLOGY

a different picture, reaching as high as 6%. Under the leadership of a new President, 2018 represents a changing tide for Zimbabwe and the insurance space and Zimnat’s responsibility to cement confidence in the sector is one that Sachak recognises.

“A major challenge we have faced is getting everyone in the leadership team and all of our stakeholders to fully appreciate that this digital transformation is real and that we have to embrace this technology,” he says. “This extends to our customers. We have not been able to access a large part of our population because the penetration of insurance and the education we can provide for them hasn’t been there.

Technology and digital platforms will allow us to reach them.

“Through our digital transformation we have been able to find customers who would never be able to find us through traditional means. It’s actually increasing the market for us.”

Sachak feels that educating the market is a critical ingredient, not only in growing a f r i c a . b u s i n e s s c h i e f. c o m

125

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127

the company but developing the

responsibility to educate them and

insurance sector in Zimbabwe. He

change that perception. That’s our

points to the company’s purpose of

purpose: making people’s lives better.

“making life better” and how that starts

That’s what drives us.”

with changing a negative perception

Key to moving forward and to

that insurance and insurance compa-

making people’s lives better is listening

nies have in Zimbabwe.

to people and recognising where the

“There’s a general view that insur-

company is both succeeding and

ance companies simply take money

failing and ultimately, responding.

from the public and then don’t pay up

Sachak understands that in order to

when it comes to claims,” says Sachak.

understand how the company is

“Our digital journey speaks to our

performing with the customer it must a f r i c a . b u s i n e s s c h i e f. c o m

Z I M N AT

“ What we’re doing right now, and what we will continue to do, is strive to make sure it’s not only a seamless experience for the customer but an experience that has them saying, ‘Wow. This was superior’” 128

— Mustafa Sachak, CEO, Zimnat

ask the customer. “We can sit and pontificate as much as we want but in reality, the customer defines that conversation,” he says. “It’s never been easier for a customer to move to another provider, so we have to ensure that we are looking after their interests and delivering on our promise.”

The insurance space in Zimbabwe will continue to evolve and so too will the customer prompting Zimnat’s digital transformation to evolve with it.

FEBRUARY 2019

TECHNOLOGY

129

Over the next 12 months the company

a customised experience for the

will increase its investment into data

customer,” he says. “What we’re doing

analytics in order to establish and

right now and what we will continue to

provide a loyalty reward platform.

do, is strive to make sure it’s not only

Sachak notes that Zimnat will continue

a seamless experience for the customer

to dive deeper into emerging technol-

but an experience that has them saying,

ogy trends and assess how it can bring

‘Wow. This was superior.’”

those technologies from all around the world into both the company and the Zimbabwe market.

Ultimately though, Zimnat will continue to do one thing. “It’s really about a f r i c a . b u s i n e s s c h i e f. c o m

130

FEBRUARY 2019

MINING

A journey of transformation through rehabilitation WRIT TEN BY

DA LE BENTON PRODUCED BY

RICHARD DE ANE

a f r i c a . b u s i n e s s c h i e f. c o m

131

B A N R O C O R P O R AT I O N

Brett Richards, Chairman and CEO of Banro Corporation, talks through the challenge of re-establishing the company as a leader following bankruptcy and distress

F

or more than 20 years, Banro Corporation Limited had established a firm foothold as one of Africa’s premier gold mining

companies. Situated in the Democratic Republic of the Congo (DRC), Banro has the largest African land 132

package for an operating gold mining company and has the only large-scale industrialised mining operation in South Kivu and Maniema. With more than 8Moz of Global Resources in the DRC it was once the largest gold mining company in the country from 2006 to 2014. Alongside its two operating mines and a number of mining licences, Banro also has 17 additional exploration licences and a number of early stage exploration projects. Banro’s story seemed to go from success to success, but in 2017 the company suffered from a combination of security and community issues and went into financial distress. By November FEBRUARY 2019

MINING

133

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136

2017, it had gone through a CCAA

Brett Richards, Chairman and Chief

(Canada) Bankruptcy proceeding.

Executive Officer, is best placed to

Fast forward to early 2018 and the

spearhead this transformation journey.

company emerged from its bankruptcy

“I’ve worked in Africa for the past eight

process with a financial restructuring and

years or so with private equity firms

Banro embarked on a major rehabilitation

looking at the rehabilitation of assets

project to re-establish the company as

to deliver value. Banro had and still has

a premier central Africa gold mining

a number of operating challenges and

company. Having worked in the global

has been under capitalised due to the

mining industry for over 20 years, with

bankruptcy,” he says. “It’s also one of

significant roles at Kinross Gold and

the toughest jurisdictions in the world

a founding member of Katanga Mining,

and so I’ve had to draw upon all of my

FEBRUARY 2019

MINING

137

skills, whether it’s geopolitical or socio-

of legacy deficiencies in order to take

economic, to overcome the challenges

the necessary steps in order to stabilise

that we are facing.”

the business. When Richards entered

Banro’s transformation is one of two

the business, Banro was faced with

parts. First, Richards and the company

fresh security challenges that he believes

will look to recapitalise the company over

“paralysed” the business temporarily.

the next year in order to reposition the

Step one of the journey was to re-estab-

company to where its history and land

lish community relationships. “It’s our

package should place its cost structure

obligation as a company to provide a safe

and operating environment amongst its

workplace for our people and a safe

peers. This first phase of rehabilitation

workplace for our whole community

is one of trying to understand a number

to live in,” he says. “That’s achieved a f r i c a . b u s i n e s s c h i e f. c o m

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through a security discipline whereby you have to proactively engage with the communities and the local authorities and government to mitigate those potential situations.”

“Communication in our Namoya and Twangiza regions, all the way down to the traditional leaders, to the various key people in the provinces and communities, all the way up to our security partners, is vital to establishing the platform of a safe environment.”

Richards points to a breakdown in trust in the run up to the bankruptcy and as

“ It’s our obligation as a company to provide a safe workplace for our people and a safe workplace for our whole community to live in” — Brett Richards, Chairman and CEO of Banro Corporation

the company began to wind down, the communities could no longer see the benefit of having Banro operating in the area again. “We had to go right back to the basics to rebuild all of that,” he says.

“I think we’ve really done a fantastic job on achieving that.”

The results speak for themselves.

Banro has now established a platform that engages all parts of the stakeholder ecosystem that considers safety, security and community engagement perspectives in order to operate successfully and regrow the company in the right direction. These “boilerplate” problems have now been addressed a f r iw c aw.w.busi b u s i n ne e sssc s c hhief. i e f. ccom om

139

B A N R O C O R P O R AT I O N

and allow the company to look a little deeper at the financial and technical deficiencies that also played a key role in the bankruptcy.

Richards says that now the company has identified what it’s going to take to rehabilitate the company, the task is now to execute on the various technical and operational challenges the company needs to make it competitive again. “I think the victories we’ve had over the last year addressed those challenges and now we have given ourselves the platform to be successful. We’ve identified the pathway to success,” he says. “Now it’s time to act and 140

find the capital to move forward and start the next stage of this journey.”

The next stage is the size and scale of the opportunity Banro has at its disposal through its large land package. The long-term plan is to grow the company beyond its two operating mines and key to unlocking this is through attracting investors. With all that Banro has gone through, the level of risk associated with investing in the company is understandably high, but Richards believes that the successes it has achieved to date have already begun to change that conversation. “It says FEBRUARY 2019

MINING

141

to them that Banro have done it and they’ve been successful in doing it while operating in the most challenging jurisdiction in the most challenging country,” he says. “But it’s not just those challenges. The investment appetite will come from the size and scale of what Banro has in the ground. It’s not just what we have now, it’s what we have over the next five years with our exploration package and our goals. The potential we have in Africa is second to none.”

As a company that’s been operating successfully for more than 20 years, Banro has amassed a strong portfolio of suppliers a f r i c a . b u s i n e s s c h i e f. c o m

B A N R O C O R P O R AT I O N

142

“ I think the victories we’ve had over the last year represent those challenges and now we have given ourselves the platform to be successful.

We’ve identified the pathway to success” — Brett Richards, Chairman and CEO of Banro Corporation

FEBRUARY 2019

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143

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and partners that have been integral to establishing its position on the mining map. When the company hit financial distress, these suppliers could have been forgiving for parting ways and protecting their own investments, but Banro has been blessed with extremely loyal partners that continue to support the business through thick and thin.

“They know it’s difficult but one thing that I said when I came in was, ‘we are going to pay you, we are not going to run away from our obligations; we will

145

work this out and establish a plan to move forward together’,” says Richards.

“I can’t speak highly enough about the fact that Banro is still operating today is probably because of our suppliers, and because they allowed us the liberty to work through some challenging times at their expense. I understand that, and I get it and I appreciate it, and I tell them that every chance I get.”

One such partner has been Engen, one of Africa’s leading petroleum oil providers and Banro’s primary fuel supplier since the company was founded.

Richards believes that Engen, as with

a f r i c a . b u s i n e s s c h i e f. c o m

B A N R O C O R P O R AT I O N

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FEBRUARY 2019

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“ The fact that Banro is still operating today is probably because of our suppliers, and because they allowed us the liberty to work through some challenging times at their expense” — Brett Richards, Chairman and CEO of Banro Corporation 147

all of the company’s suppliers, have

and stakeholder engagement. The

continuously worked with Banro to make

future is bright for Banro and the

the “elasticity in the business work”.

company has identified key targets

“They have been stalwarts in working

over the next two years that will firmly

with us,” he says. “It’s a testament to

reposition it as the premier African

their values. They are in this with Banro

gold mining company.

as a partner and they’re in with us for the long run.”

As Banro looks to the future, it can do so through a sound commitment to getting the basics right from operational level right through the management a f r i c a . b u s i n e s s c h i e f. c o m