AFRICA EDITION DECEMBER 2018 africa.businesschief.com
technology transformation in Africa’s crossborder payment market
Zimnat
Digital disruption in Zimbabwe’s insurance sector
DISRUPTING THE FINANCE SECTOR ON ITS DIGITAL TRANSFORMATION JOURNEY
Most Admired African Brands
CEO Mustafa Sachak on being at the forefront of global technology innovation City Focus
YAOUNDÉ Spreadshirt: productivity in the age of digital disruption
Connecting people to the technology of tomorrrow
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WELCOME
W
elcome to December’s Africa edition of Business Chief!
On the cover of this month’s issue features Zimnat, the Zimbabwean life assurance and short-term insurance firm. Zimnat has been serving customers in Zimbabwe for over seven years by managing wealth, assets, and funds. Recently the company has focused on radical transformation, using technology as a key driver in its operations. Zimnat is embracing the nation’s 15 million mobile customers and six million internet users whilst exceeding customer expectations and providing quality customer experience. Elsewhere, we have looked at how SBM Bank’s digital transformation journey and spoke to leaders from Compass Group South Africa. We speak to SWIFT to discover how the cross-border payment company implements innovative technology in the industry. The firm is responsible
for connecting over 11,000 banking and securities organisations, market infrastructures, and corporate customers across more than 200 countries and territories. The magazine focuses on the city of Yaoundé this month. We discover how Cameroon’s capital connects thousands of young people to future technologies. Earlier this year, the city revealed the Next Generation Center for Technology (NGCT) – the start-up incubator which is supported by Ministry of Vocational Training and Employment and UNICEF. We look at the top 10 most admired brands in Africa, based on a list compiled by Brand Africa. The companies cover food and beverages, consumer, and telecommunications across East, West and Southern Africa. Enjoy the issue! Sophie Chapman. sophie.chapman@bizclikmedia.com a fri c a .busi ne ssc hief. com
03
CONTENTS
08
Zimnat
Digitally disrupting the insurance sector in Zimbabwe
36 24 SWIFT
SHAPING CROSS-BORDER PAYMENT IN AFRICA
Spreadshirt simplicity is key amid its digital transformation
46 City Focus
56 MOST ADMIRED AFRICAN BRANDS
70 SBM LEVERAGES TECHNOLOGY TRANSFORMATION TO SYNERGISE ITS GLOBAL OPERATIONS
08
Digitally disrupting the insurance sector in Zimbabwe
DECEMBER 2018
TECHNOLOGY
09
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 10
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 DECEMBER 2018
by the customer. With more than 15mn
TECHNOLOGY
11
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
13
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” 14
— 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
DECEMBER 2018
TECHNOLOGY
CLICK TO WATCH : ”TOGETHER WE CAN MAKE LIFE BETTER” 15 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
17
Z I M N AT
£70mn Approximate revenue
1946
Year founded
540
18
Approximate number of employees
DECEMBER 2018
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
19
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TECHNOLOGY
21
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’” 22
— 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. DECEMBER 2018
TECHNOLOGY
23
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
LEADERSHIP
24
SHAPING CROSSBORDER PAYMENT MARKET IN AFRICA DECEMBER 2018
FOR OVER TEN YEARS, SWIFT HAS DEFINED AFRICA’S CROSSBORDER PAYMENTS, AND WILL CONTINUE TO EMBRACE INNOVATIVE TECHNOLOGIES OF THE FUTURE WRITTEN BY
DALE BENTON
a fri c a .busi ne ssc hief. com
25
LEADERSHIP
S
WIFT connects more than
11,000 banking and securities organisations, market infra-
structures and corporate customers
in more than 200 countries. The company enables its global community of users to communicate securely by exchanging standardised financial messages to facilitate global and local financial flows, supporting trade and commerce all around the world. SWIFT’s recent report, “Africa Payments: Insights into African Transaction Flows”, reveals that intra-Africa 26
payments clearing and trade is increasing in importance. The paper maps commercial payment flows against financial flows, pointing to an increase in the use of African currencies for cross-border payments and a decline in the dominance of North American clearing banks and the use of the US dollar. The data further highlights a significant increase in intra-African commercial payments, with almost 20% of all cross-border commercial payments being credited to an African beneficiary. This indicates that more goods and services are being bought and sold within Africa, up from 16.7% in DECEMBER 2018
2013. Intra-African clearing of payments has also increased, from 10.2% in 2013 to 12.3% in 2017. This indicates that an increasing number of payments are being routed through Africa instead of via a clearing bank outside of Africa. As a member-owned cooperative, SWIFT plays an important role in the Southern African Development Communities’ (SADC) Real Time Gross Settlement System (RTGS). SADC RTGS (previously known as SADC Integrated Regional Electronic Settlement System (SIRESS), established in 2013, is a common electronic payment system which enables direct cross-border interbank payments in real-time. From its inception to 31 March 2017, 83 participants carried out 712,099 transactions with a value of 3,100 billion rand on the system. The system delivers faster settlement time, a reduction of settlement risk and lower cost of transacting. SWIFT also supports the East African Payment System (EAPS) where the company continuously seeks out opportunities to further the digital payment conversation through innovative technology. “With rapid change occurring in both the payments and securities a fri c a .busi ne ssc hief. com
27
LEADERSHIP
“ With rapid change occurring in both the payments and securities landscapes, SWIFT is continuously researching and testing new technologies in practical use-case scenarios and working together with banks to rejuvenate the correspondent banking model” 28
— Denis Kruger, Head of sub-Sahara Africa, SWIFT
landscapes, SWIFT is continuously researching and testing new technologies in practical use-case scenarios and working together with banks
Through SWIFT gpi, customers’
to rejuvenate the correspondent
transaction times have been signifi-
banking model,” says Denis Kruger,
cantly shortened to minutes and in
Head of Sub-Sahara Africa, SWIFT.
some cases even seconds. Currently,
“To this end, we launched the
around 70% of gpi payments leaving
SWIFT global payments innovation
Africa are completed and credited to
(gpi) service in 2015, to enhance
the end beneficiary within 30 minutes.
corporate customers’ experience of
Efficiency and speed is one thing,
correspondent banking by increasing
but introducing multiple solutions
the speed, transparency and predict-
and increasing the number of digital
ability of cross-border payments.”
transactions can only heighten the risk
DECEMBER 2018
in multiple jurisdictions. This is demanding - and increasingly costly but the costs and reputational impact of non-compliance are even higher.” The Africa Cyber Security Report 2017, conducted by Serianu, revealed that the cost of cyber-attacks on African businesses is around $3.5bn annually. To this end, SWIFT launched the Customer Security Programme (CSP) in 2016 as a sign of the company’s strict commitment to recognising the importance of cybersecurity, not just in Africa but around the world. “We strive to reinforce and safeguard the security of the wider financial services ecosystem through our Customer Security Programme, a dedicated programme supporting banks to secure and protect their local environment, surrounding cashless payments and
prevent and detect fraud in their com-
transfers. SWIFT recognises this and
mercial relationships and continuously
Kruger points to financial organisa-
share information and prepare against
tions as they increasingly position
future cyber threats in collaboration
themselves at the frontline of defence.
with others,” says Kruger.
“All over the world, regulators require
“Having accurate, up-to-date informa-
financial institutions to meet stringent
tion on relevant cyber threats is critical
Know Your Customer (KYC), anti-mon-
and we are supporting greater levels
ey laundering and sanctions rules and
of intelligence sharing across the
regulations,” he says. “African banks
global community.”
need to comply with such obligations
Additionally, SWIFT has developed a fri c a .busi ne ssc hief. com
29
LEADERSHIP
“ A s the financial industry on the continent matures, financial communities are looking to share investment costs and expand their activities from their local bases. The adoption of the global ISO 20022 standard will provide a common language for such regionalisation initiatives” 30
— Denis Kruger, Head of sub-Sahara Africa, SWIFT
industry and it has done so by creating and maintaining financial messaging standards and reference data standards. These standards ensure that data exchanged between institutions is unambiguous and machine friendly, enabling efficient automation and reducing industry costs and risk. A key example of this is ISO 200022, a methodology that supports rich data structures and enables data transparency and interoperability. This standardisation is both global and open, with no single interest controlling it and as Kruger notes, also flexible enough to be adapted as new technologies emerge. Africa’s financial market is still
a broad finance crime compliance
growing and can benefit significantly
portfolio with the SWIFT community.
from SWIFT’s standardisation. Kruger
This portfolio is a suite of managed
points to South Africa as a front runner
and shared services that leverage
in the adoption of global standards,
SWIFT’s platform, technology and
citing the South African Central
standards to remove the complexity
Securities Depository State becoming
and give African banks a simpler,
one of the first security market infra-
more-cost effective way of meeting
structures to use ISO 15022 which
the challenges of financial crime
sets a series of principles necessary
compliance.
to provide the different communities of
Around the world, SWIFT has
users with the tools to design message
played an integral role in standardi-
types to support their specific informa-
sation across the financial global
tion flow. Along with the South African
DECEMBER 2018
CLICK TO WATCH : ‘SWIFT FOR ISO 20022’ 31 Reserve Bank, both institutions are
provide a common language for such
looking to move to ISO 20022 in the
regionalisation initiatives.”
near future, highlighting Africa’s growing
SWIFT has already cemented itself
appetite and capability for the moderni-
as a key player in sub-Sahara Africa
sation of the financial industry.
and through its cooperative nature
“ISO 20022 is also expected to
and structure of its network, products
help with the practical implementation
and services will continue to meet the
of regionalisation projects in African
evolving needs of its customers. A key
financial markets,” says Kruger. “As
example of this is SWIFT National
the financial industry on the continent
Member Groups. Acting as represent-
matures, financial communities are
atives of SWIFT shareholders and
looking to share investment costs
users, serving in an advisory capacity
and expand their activities from their
to the Board of Directors and SWIFT
local bases. The adoption of the
management, the National Member
global ISO 20022 standard will
groups are present in 35 African a fri c a .busi ne ssc hief. com
LEADERSHIP
1973
Year founded
200+
Countries & territories where SWIFT operates
5.5bn+
Messages sent via SWIFTS' platform 32
DECEMBER 2018
countries and allow SWIFT to customise its solutions to fit local requirements. This has seen the implementation of SWIFT’s Sanctions Screening in Nigeria in 2014 to tackle financial crime compliance regulation with the Central Bank of Nigeria. The digital revolution is in full force, and SWIFT’s customers are continuously influenced by new technologies regulation and evolving consumer behaviours. As it moves forward and embraces this changing landscape, SWIFT remains committed to being a central part of this evolution. “One key priority for the coming years is promoting SWIFT gpi, the new standard in cross-border payments, to the wider financial community both in Africa and across the world,” says Kruger. “We currently have four banks live on the service in Africa, Standard Bank, ABSA Bank, Nedbank and FirstRand Bank, with many more going live in the coming months. The service is supporting these African banks in becoming more competitive by increasing the speed, transparency and end-to-end tracking of crossborder payments.”
a fri c a .busi ne ssc hief. com
33
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TECHNOLOGY
36
Spreadshirt
simplicity is key amid its digital transformation AS TECH ADVANCES, KEEPING THINGS SIMPLE CAN DRIVE EFFICIENCY AND HEIGHTEN CUSTOMER EXPERIENCE, SAYS PHILIP ROOKE, CEO OF GLOBAL ECOMMERCE COMPANY SPREADSHIRT WRITTEN BY
DECEMBER 2018
OLIVIA MINNOCK
37
a fri c a .busi ne ssc hief. com
TECHNOLOGY
F
rom promoting snappy slogans and allowing people to create to helping entrepreneurs and small businesses
thrive, global self-expression company Spreadshirt made its name as a European
T-shirt printer, but is now fast becoming a much more diverse, global entity. When we last spoke to CEO Philip Rooke, the company was just starting to expand in the US. Now, it has reached over €100mn revenue thanks in part to this new market and is looking to optimise efficiency and stick to its customer centric vision in order to help the European business grow in uncertain times where 38
productivity is ever more important. “The majority of our business is European,” says Rooke. “That’s what drove us over €100mn (US$114mn) revenue.” Last year, Spreadshirt reached €106mn (US$121mn) in revenue, making €8.6mn (US$9.8mn) EBITDA. “This probably makes us the most profitable in our industry, and that’s because we’re able to concentrate on the right things.” For Spreadshirt, the US marks a mammoth opportunity, but the region is not without its challenges. “America is a huge market – the average American buys 9.4 T-shirts per year, while the average German buys 4.5,” Rooke explains. “More importantly, in most European countries we have three DECEMBER 2018
39
“American companies are very good at being lean, agile and customer focused” — Philip Rooke, CEO, Spreadshirt
or four competitors – and are nearly always number one – but in America we’re tracking 200 companies to compete with.” In this relatively new territory, Spreadshirt must step up to the plate and enhance customer experience for the modern, tech-savvy consumer. “Americans are not very patient,” Rooke observes. “If your usability is poor, they leave for a competitor. We really had to work on getting the experience much simpler. “American companies are very good at being lean, agile and customer focused,” he adds. As such, a key transformation Spreadshirt has implemented, not only in the US but a fri c a .busi ne ssc hief. com
TECHNOLOGY
throughout its business, is to simplify
our customers do that in their spare
everything from production processes
time? I look with horror at how much
to its user platforms – not least mobile,
money I’ve spent on Amazon recently
which is important to nail down since
– most of it on mobile as it’s so simple,”
55% of Spreadshirt’s traffic last year
he adds.
was mobile. “With a lot of ecommerce,
Now, all development of the ecom-
all the browsing takes place on buses
merce platform happens mobile first,
or in bars when people are on the move
forcing the business to
or have a spare moment.
ensure the experience is
“By concentrating on mobile, it forces
40
as simple as possible.
you to simplify the consumer’s journey
“You can always imagine
so they can not only browse but easily
extra features, but they
buy on mobile. Is the platform simple
can make it harder
enough to create your own T-shirt or
to use. Every feature and
browse the creations of others? Can
function must be simplified,
DECEMBER 2018
right down to marketing communication
items. Coupled with the number of
because you can’t write two paragraphs
markets it operates across, Spread-
on why a premium T-shirt is better than a
shirt in 2018 is in may ways a complex
normal one – nobody’s going to read that
beast in which, as Rooke puts it, “there
on mobile. It forces everyone from web
are 10,000 things that could go wrong.”
designers to purchasing and assortment
This in itself has forced Rooke to simplify
teams to simplify.
his own outlook and that of his leader-
“Five or 10 years ago, the more
ship team. “There’s no way to manage
features you added the more exciting it
all that end to end – I’d go crazy. So,
was, but now people want to achieve
over the past couple of years, there’s
tasks really simply and as such the
been a big shift in how we manage
80/20 rule is cutting back in,” adds
the business.
Rooke. “You have to concentrate on what 20% of features, stocks, offering,
“I don’t manage or oversee all elements – I’ve employed people who are a lot
makes up 80% of your business.”
41
Across the board, from mobile ecommerce to the factory floor, digital transformation is certainly “forcing a lot of simplification,” according to Rooke. This is especially challenging for Spreadshirt when its business model is anything but
“Five or 10 years ago, the more features you added the more exciting it was, but now people want to achieve tasks really simply” — Philip Rooke, CEO, Spreadshirt
simple – it has several businesses within it including people who sell on Amazon, directly to market, or create and buy or sell their own a fri c a .busi ne ssc hief. com
TECHNOLOGY
better than me,” he explains. “People used to write reports and ask for approval on what they were doing, but now we say ‘if you can turn this around, we don’t really care what you’re doing – we care what results you’re achieving.’” Spreadshirt now uses a system called Objectives and Key Results (OKR), which is used by the likes of Google and LinkedIn, to empower various teams. Objectives for the quarter are agreed among directors and it’s up to individuals and teams to go away and achieve these however they see fit. 42
“That’s the only way to manage a complex international business,” says Rooke. OKR allows empowerment to run right through the business. “People take responsibility. They care. They like the freedom of being able to think about how they can do things differently. Teams and individuals can really take ownership of what they’re doing.” This is vital when as CEO, Rooke lives on a different continent to some of his teams and might only see them a few times a year. Having trust and empowerment in place means C-level executives have their time freed up to communicate where it matters. “When I’m talking to the Las Vegas factory, I’m DECEMBER 2018
“In the past, we thought things were clever if they were complex. But actually, if someone can work out how to make something complex simpler – that’s the cleverest thing” — Philip Rooke, CEO, Spreadshirt
43
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TECHNOLOGY
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DECEMBER 2018
talking about quality and cost improvements and why they matter – before, I was worrying about processes. “We’ve abandoned nearly all the internal reporting – with the OKR system, and daily reports that show the KPIs that come out, it’s so much simpler and there’s less red tape. The whole mantra is around simplicity – trying to achieve something in a quarter is the simplest way to move it forward. People get rid of the big, complex ideas and brainstorm how to do things in a more complex way. We celebrate that at Spreadshirt. In the past, we thought things were clever if they were complex,” Rooke adds, “But actually if someone can work out how to make something complex much simpler – that’s the cleverest thing.”
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CITY FOCUS
City Focus 46
DECEMBER 2018
As Africa continues to embrace digital innovation, the capital city of Cameroon connects thousands of young people to the technologies of tomorrow WRITTEN BY
DALE BENTON
47
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C I T Y F O C U S | YA O U N D É
I
n recent years, Africa has become a continent transformed and technology has been the key driver. With technology
all around the world redefining everyday life and industry sectors in more mature countries and markets, Africa is currently undergoing a digital revolution. Some of the leading technology companies and service providers have turned their attentions to Africa. Only recently, Google provided an update to its Google Africa Scholarship challenge to provide Android and Web development trainings. In the announcement, it revealed that it had con48
nected more than 8,000 developers across Africa to training and technology solutions, as well as more than 10,000 young aspiring and professional developers. It is of no surprise then, that the capital city of Yaoundé, is also significantly investing in the technologists of today to embrace the technologies of tomorrow. In early 2018, the capital of city of Cameroon officially unveiled the Next Generation Center for Technology (NGCT). Located in central Yaoundé, NexGen is a non-profit start-up incubator, supported by Ministry of Vocational training and Employment in Cameroon and UNICEF. Its purpose? To fund mentors, nurture ideas, startups and entrepreneurs to bridge the gap in providing skills for the next generation of workers in Africa. “The NexGen links workforce education to the latest technology DECEMBER 2018
49
Supported by UNICEF and the Ministry of Vocational training and Employment in Cameroon, the Next Generation Center for Technology (NGCT) is located in central Yaoundé
‘ Only recently, Google provided an update to its Google Africa Scholarship challenge to provide Android and web development training’ a fri c a .busi ne ssc hief. com
C I T Y F O C U S | YA O U N D É
The NGCT’s purpose is to fund mentors, nurture ideas, startups and entrepreneurs to bridge the gap in providing skills for the next generation of workers in Africa
and is designed to achieve excellence and foster creativity amongst the brightest 50
minds,” says NexGen. The centre provides a diverse ‘bootcamp’
The innovative game studio, Kiro’o Games, is based in Yaoundé, and described as the ‘first of its kind’ in Central Africa
curriculum that incorporates project-based learning, connecting aspiring young technologists with real-world technology problems, and a robotics summer program that sees children and young people work with robotics and automation to solve problems with innovative solutions. This bootcamp portfolio offers courses in digital literacy, coding, graphic design, cyber security and database design management among other courses. Another area of innovation that is proving key to developing a new generation of entrepreneurs is gaming and Yaoundé is home to one of the most successful digital startups in Cameroon focused entirely on educaDECEMBER 2018
The Kiro’o Games team
tion through gaming technology. Kiro’o Games, headquarter in central Yaoundé, is an innovative game studio described as the ‘first of its kind’ in Central Africa. The company is made up of 20 young Africans with a vision to create the best digital African catalogue with a blend of video games, comics, animations and illustrations. Orginally founded back in 2004, Kiro’o Games has spent the last decade transforming not only the Cameroon gaming space, but disrupting the global industry. In 2016, the company broke
2.5mn +
Approximate population of Yaoundé
English & French Languages spoken
new ground across the gaming industry with the release of Aurion: Legacy of the Kori-Odan. What makes the game unique is that it is one of the very first companies in the world to produce and release an African-themed roleplaying game (RPG). The game was incredibly well received around the world and has cemented the company as an innovation hub for Cameroon, but the journey was one of challenge.
1922
Year that Yaoundé became the capital of Cameroon
As it approached a launch date for the game, the company was rejected by every bank it approached for funding and so it launched a Kickstarter campaign. The campaign was incredibly a fri c a .busi ne ssc hief. com
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C I T Y F O C U S | YA O U N D É
52
CLICK TO WATCH : ‘AURION : LEGACY OF THE KORI-ODAN (TRAILER)’
DECEMBER 2018
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successful and saw more than 88 international investors invest into the company. Speaking at the time of launch, Guillaume Olivier Madiba, founder of Kiro’o Games, commented that the game and the backing from international investors represented more than simply gaming as entertainment. “Our dream is bigger than that,” he told the Wall Street Journal. “We want to build a bridge between the gaming industry and Africa.” Recognising this responsibility,
‘ The [NexGen] centre provides a diverse ‘bootcamp’ curriculum that incorporates project-based learning, connecting aspiring young technologists with real-world technology problems’
the company launched a mentoring a fri c a .busi ne ssc hief. com
C I T Y F O C U S | YA O U N D É
‘Africa is embracing technology now more than ever and Yaoundé has already begun to show that it will play a key role in the evolving landscape’ program designed to connect the ‘missing link in the African economy’. The Kiro’o Rebuntu project is a mentoring program and 54
fintech platform that offers the “quintessence” of the company’s 13 years, connecting more than 10,000 technology project leaders to Cameroon and wider African communities. This project is but a reflection of the company, and Yaoundé’s growing emergence as a technology hub, and its vision to create an African digital catalogue hub with a user base of at least 18mn users across the continent by 2025. “The Web 3.0 will open a world based on the shared economy, and the one that will have the formula of “Renewable Finance” will be one of the kings of this new world,” says Kiro’o Games. “For now, it looks like science fiction (like the smartphone 30 years ago), but we know that this revolution will come DECEMBER 2018
from Africa, and we are now starting to prepare it with Rebuntu as a first step.” Yaoundé demonstrated its commitment to embracing the technological revolution by hosting a unique event designed to realise the tremendous opportunity that technology can bring to NGOs. Through a partnership between leading global technology companies including Microsoft, Bitdefender and Autodesk, “Exploring TechSoup Cameroon and taking advantages of TechSoup Global” invited professionals and NGO representatives to explore the “firing power” of the TechSoup programs. TechSoup provides access to resources, solutions and digital knowledge for NGOs all around the world. While no plans have been announced to make it an annual event, it is but a testament to the growing recognition of the transformative effects of technology across Africa. As Yaoundé looks to the future of technology it continues to invest in the young generation of entrepreneurs and innovators of today. Africa is embracing technology now more than ever and Yaoundé has already begun to show that it will play a key role in the evolving landscape.
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T O P 10
56
DECEMBER 2018
most admired A African brands Inspired by the African Union Agenda 2063 towards an integrated, peaceful and prosperous Africa, Brand Africa lists the most admired companies in the country based on image, reputation and competitiveness. Business Chief Africa looks at the top 10 admired African brands. WRITTEN BY
DALE BENTON
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T O P 10
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Azam – Food, Tanzania One of the leading brands under the Bakhresa Group, Azam is brand that produces carbonated soft drinks, dairy ice cream, juices as well as Azam Bakeries. The Bakhresa Group is a leading family-owned industrial conglomerate in Tanzania, but also has a presence in Zanzibar, Mozambique, Kenya and South Africa to name a few. The company has an annual turnover of around $800mn. In 2007, as a sign of its commitment into corporate social responsibility, Bakhresa Group established Azam Football Club.
www.bakhresa.com
DECEMBER 2018
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Trade Kings Ltd Consumer, Non Cyclical, Zambia The largest fast-moving consumer goods (FMCG) manufacturer in Zambia, Trade Kings Ltd produces high quality detergents, soaps confectionary and soya nuggets. The company distributes its products throughout Zambia and the Sub-Saharan region. It’s flagship brand, Boom, is a washing powder that was first launched back in 1995. In the years since, an average of 5,000+ tons of Boom is produced per month.
www.tradekings.co.zm
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Tusker – Alcoholic Beverages, Kenya A premium lager brand under the East African Breweries company, Tusker Lager is a beverage dedicated to the spirit of the co-founder of Kenya Breweries Ltd, who was killed by an elephant while hunting back in 1922. Tusker is brewed from 100% African ingredients that are all locally sourced. The barley used in Tusker is sourced from the Savannah and the Maasai Mara, the spring water from the Aberdere mountains and all the yeast is developed locally. Tusker is well and truly an African beer. The beer’s slogan “Bia yangu, Nchi yangu” means “My beer, My country” in Swahili and more than 700,000 hectolitres are sold each year in Kenya.
www.eabl.com
DECEMBER 2018
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Econet Telecommunications, Zimbabwe Zimbabwe’s largest provider of telecommunications services, Econet first launched its network back in July 1998. As it stands today, Econet is one of the largest companies listed on the Zimbabwe Stock Exchange with a market cap of around $5.5mn. Econet Zimbabwe is a subsidiary of Econet Wireless, a privately held diversified telecommunications group with operations and investments in Africa, Europe, South America, North America and the East Asia Pacific Rim. In 2017, the company partnered with the Zimbabwe National Road Administration to create cashless payment tollgates which allow drivers to link their vehicles with their EcoCash mobile money wallets.
www.econet.co.zw
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Shoprite – Retail, South Africa With a promise to deliver low prices in world-class shopping environment, Shoprite Holdings is a group of wholly owned subsidiaries constituting the largest fast-moving consumer goods retail operation in South Africa. With 28453 outlets across 15 African countries in sectors including hospitality, liquor, furniture, ticketing and fruit and vegetable procurement, Shoprite is well and truly cemented in the hearts of Africans everywhere. In 2018, the company cemented its position as the only national retailer with a verified 100% recycled shopping bag in all of its supermarkets, implemented a customer loyalty scheme that rewards customers with a 50c discount on all shopping for reusing Shoprite’s recyclable bags.
www.shopriteholdings.co.za
DECEMBER 2018
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Tiger Brands – Consumer, South Africa Founded in 1921, Tiger Brands is a South African packaged good company.It’s very first product was an oatmeal brand called Tiger Oats and over time the company has grown and expanded into a wide range of consumer goods. Tiger Brands now provides products in baby care, beverages, perishables, personal care and grains. The last eight years has seen Tiger Brands expand and grow through strategic acquisitions including a controlling stake in Haco Industries (Kenya) and Chococam (Cameroon) as well as a 63.35% stake in Dangote Flour Mills (Nigeria).
www.tigerbrands.com
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Globacom (Glo) Telecommunications, Nigeria Globacom, often referred to as Glo, is a leading telecommunications provider in Africa with millions of subscribers in Nigeria, the Republic of Benin and Ghana. The company provides much more than simply telecoms solutions designed to simplify the lives of Africans, it invests heavily into community development projects as well as being official sponsors to the national football teams and the Premier Leagues in both Nigeria and Ghana. In early 2018, the company reported that it had the highest new internet subscriber acquisition, recording 866,656 new data users which accounted for 66% of all Nigeria’s data users.
www.gloworld.com
DECEMBER 2018
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Anbessa – Apparel, Ethiopia The oldest shoe manufacturing company in Ethiopia, Anbessa produces more than 10,000 pairs of shoes per day. The company’s corporate headquarters are located in Addis Ababa, Ethiopia and it serves retail outlets across the country as well as in Italy, Germany, Sweden and North America. In September 2017, Anbessa officially moved to its 20,000sqm manufacturing facility in the Akaki Kality District. The move saw the company’s annual production capacity rise from 3,500 to 10,000.
www.anbessashoe.et
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DECEMBER 2018
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Dangote – Consumer, Nigeria The largest indigenous industrial conglomerate in Sub Saharan Africa, Dangote Group provides excellent business practices and products across a diversified portfolio that includes cement, fertiliser, food and beverages and real estate. Headquartered in Lagos, Nigeria, Dangote Group stands as a company ‘posed to reach new heights in every endeavour’. In October 2018, the Group took part in the World puff-puff Day by breaking the Guinness Book of World Records, baking 200kg of flour to produce 30,000 pieces of puff-puff.
www.dangote.com
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DECEMBER 2018
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MTN Group Telecommunications, South Africa A leading provider of cellular network access and business solutions, MTN operates in 23 countries worldwide including the Middle East, Europe and of course Africa. With a mission statement defined by leading the ‘delivery of a Bold New Digital World’ to one of the fastest growing internet and mobile markets, MTN’s position as the most admired company in Africa 2018 is the latest in a series of milestones for the company, registering more than 230 million subscribers and becoming the first African telecom company to be ranked amongst the top 100 global brands.
www.mtn.com
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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 72
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 DECEMBER 2018
TECHNOLOGY
73
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
74
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
DECEMBER 2018
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
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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 76
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 DECEMBER 2018
“ 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
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TECHNOLOGY
CLICK TO WATCH : ‘NOU PEI NOU DRAPO! NOU PEI NOU LALIMIER! LAME DAN LAME, NOU LINDEPANDANS!’ 79 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
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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 82
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 adminisDECEMBER 2018
Moving forward, SBM will look to
TECHNOLOGY
83
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.
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