Business Chief Africa Magazine — November 2018

AFRICA EDITION NOVEMBER 2018 africa.businesschief.com

Technopark Driving innovation in Morocco through entrepreneurial growth

Using strategic procurement in world class hotel services StĂŠphane Lacoste on improving the customer experience

Embracing disruptive technology to enable social good

MauBank A D I G I TA L BANKING ECOSYSTEM

THE ETHICAL SUPPLY CHAIN POWERHOUSE

TOP 10 wealthiest Africans

City Focus

ACCRA Building a digital future

by investing in the technologists of today

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WELCOME

W

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

Our cover star this month is Veranda Leisure & Hospitality. We look at how the company has implemented a strategic procurement model to provide world class hotel services with greater efficiency.

17 years ago, a vision of a technology park in the Western Cape province of South Africa was brought to life.

This vision was the Technopark Stellenbosch. We speak to the Director General to find out how it continues to define Morocco’s business landscape.

Through a major digital transformation, MauBank is riding the wave of a banking boom in Mauritius as the island is fast becoming known as a growing, stable financial hub. We find out how it keeps its customer offerings aligned with the demands

of the modern marketplace, while operating as efficiently as possible.

We speak to Salesforce.org, as it connects non-profits and educational institutions to innovative technology to enable social good.

Our city focus takes us to Accra. With one of the fastest growing economies in 2018, Accra looks set to define the future of Ghana by investing in the technologists and entrepreneurs to lay the foundation of a technology enabled future.

Elsewhere, we examine how 2018 saw the richest Africans’ combined wealth soar to a total of $75bn and look at the ten richest people in Africa, according to the Forbes 2018 rich list..

Enjoy the issue!

Dale Benton. dale.benton@bizclikmedia.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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CONTENTS

10

VLH uses strategic procurement to provide world class hotel services

34 salesforce.org

22 DRIVING INNOVATION IN MOROCCO THROUGH AN ECOSYSTEM OF ENTREPRENEURIAL GROWTH

Embracing innovative technology to enable social good around the world

44 City Focus With one of the fastest growing economies in 2018, Accra looks set to define the future of Ghana by investing in the technologists and entrepreneurs of today

56 TOP 10

wealthiest Africans WE LOOK AT THE 10 RICHEST PEOPLE IN AFRICA, ACCORDING TO THE FORBES 2018 RICH LIST

CONTENTS

68

M A U B A N K A D I G I TA L BANKING ECOSYSTEM

84

Atlas Mara: Banking on digital transformation

96 FNB FIDUCIARY Helping customers protect their families by digitizing the will-making process

108 EcoBank Digitising banking in Malawi’s financial sector

120 An ethical supply chain powerhouse in Africa

10

S U P P LY C H A I N

VLH uses strategic procurement to provide world class hotel services WRIT TEN BY

DA LE BENTON PRODUCED BY

S TUART IRVING

a fri c a .busi ne ssc hief. com

11

V E R A N D A L E I S U R E & H O S P I TA L I T Y

Through an approach to strategic procurement, VLH provides world class hotel services with greater efficiency

A

ll over the world, the hotel industry is changing and now more than ever before the role of procurement is proving key in

adapting to the ever-evolving hospitality landscape.

The industry has always been driven by the guest 12

but the modern-day hotel guest has far greater access to information and technology, resulting in a more informed guest which demands more from a hotel operator. For Veranda Leisure and Hospitality (VLH), key to understanding and delivering on this increasing demand lies within its procurement.

“We have a hybrid procurement process, that is, we use a mix of decentralised and centralised procurement processes,” says Stéphane Lacoste, Group Procurement Manager, VLH. “With this modus operandi and the input of my great team, we can manage to meet our KPIs and achieve world class standards, ensuring that Veranda Leisure and Hospitality increases its competitive advantage.”

VLH is the mother brand of two hotels’ brands: Heritage Resorts and Veranda Resorts. The group is composed of three hotels in the three-star NOVEMBER 2018

S U P P LY C H A I N

13

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V E R A N D A L E I S U R E & H O S P I TA L I T Y

category, two hotels in the four-star category, two hotels in the five-star category, a 19th century Chateau, 50 luxury villas, an 18-hole championship golf course, one beach club famous for its international events, and its own spa and wellness brand Seven Colours Spa. As Group Procurement Manager, Stéphane oversees a small team of 9 people and is responsible for VLH’s yearly average spend of $30 million. But as Stéphane notes, procurement has changed dramatically in recent years and his teams’ responsibilities have too. “We manage the group’s procure14

ments for every category of items over the group” he says. “We are also part of the Project Management teams and we work with them for all procurement-related actions, decisions and strategies during the renovation of current assets and/or acquisition of new hotels.”

This shift in responsibility within VLH speaks to an industry wide shift in procurement, with more and more companies looking to implement a robust strategic procurement function. But what is meant by strategic procurement? “Moving away from tactical procurement to a strategic model was one of the very first tasks I had here at VLH,” says Stéphane. “For me, strategic procurement is defined by information; you don’t know what you don’t know so we must be guided by NOVEMBER 2018

“With this modus operandi and the input of my great team, we can manage to meet our KPIs and achieve world class standards, ensuring that Veranda Leisure and Hospitality increases its competitive advantage” — Stéphane Lacoste, Group Procurement Manager, VLH

S U P P LY C H A I N

CLICK TO WATCH : ‘VERANDA — BRAND MOVIE’ 15 data and information coming from the

business model. He found that the

supply chain.”

existing ERP system proved incred-

VLH, like many organisations before

ibly inhibiting.

it, had been utilising a ‘tailor-made’

“To be able to do this, the ERP should

Enterprise Resource Planning (ERP)

be up to standards,” he says. “In supply

system and it required a keen under-

chain, you need a world class ERP

standing and knowledge of how to use

system. The better you have and the

it in order to extract the necessary

better your data is stored, the better

information. Stéphane looked to review

you will maximise your efficiency in

the company’s whole supply chain and

gathering information, the better you

procurement processes, its supplier

will analyse the data and the better

and item rationalisations and its

you will implement cost improvement/

spending in order to better understand

reduction strategies to have the company

how procurement could better fit into

beneficiate from all of it.”

and enable greater value to the VLH’s

“If the ERP doesn’t deliver strategic a fri c a .busi ne ssc hief. com

V E R A N D A L E I S U R E & H O S P I TA L I T Y

16

NOVEMBER 2018

S U P P LY C H A I N

information, procurement can’t develop

where used and replaced them with

any strategy.”

eco-friendly alternatives wherever

One such strategy that Stéphane

possible. The group has also replaced

and his procurement team have been

more than 200,000 plastic bottles from

working on is the implementation of

its operations through the implementa-

a more sustainably focused procure-

tion of bottling plants at all of its hotels.

ment function, which echoes a VLH

“Sustainability is at the heart of

groupwide approach to sustainability

everything we do and it’s rooted within

best practice. “We are constantly

our day-to-day thinking and actions in

encouraging and helping our business

order to enable the group to be greener

units to buy more responsibly and in a

throughout every single step of the

better way for the planet,” says Stéphane.

procurement process,” adds Stéphane.

To this end, VLH has removed all

Through the implementation of

plastic straws and polystyrene boxes

a Business Intelligence system, as

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

Stéphane Lacoste, Group Procurement Manager at VLH Stéphane has 13 years of experience in procurement and supply across different industries, namely the banking industry, the FMCG industry, the manufacturing industry and the hospitality sector.

His core expertise are strategic sourcing and purchasing, supply chain management, category management, contract management, ERPs, warehouse management, P&L accountability, negotiation skills, vendor management and project management.

Since 2013, Stéphane has been a member of the Chartered Institute of Procurement and Supply, a renowned UK-based global professional body for procurement and supply. a fri c a .busi ne ssc hief. com

17

well as the company’s approach to

team working with you and have great

sustainable best practice, VLH contin-

external stakeholders helping you

ues to act on all steps of the procure-

to improve your supply chain” says

ment process with the necessary

Stéphane. “By applying our ESI concept,

controls and measures in place to

we use the knowledge and expertise of

increase overall efficiency and effec-

our partners to improve and maintain

tiveness. Key to any procurement

the quality of our goods and services

function is its supplier network and

in our supply chain.”

VLH has adopted an Early Supplier

In order to implement the ESI concept,

Involvement (ESI) concept designed

Stéphane understands that he and his

to ensure the highest standards are

team must continuously strive to create

met and continue to be met for all its

strong relationships with these external

procurement activities.

stakeholders, suppliers and partners.

“In procurement, each journey is

The goal of this, he feels, is to create

a success only when you have a great

relationships that are built on trust,

NOVEMBER 2018

S U P P LY C H A I N

From left: Shamnaz Mowlabocus – Procurement Officer, Xavier de St Pern – Senior Procurement Officer, Stéphane Lacoste – Group Procurement Manager and Arjuna Cuttaree – Procurement Officer

19 mutual respect and honesty. With a supplier database of more than 1500 suppliers and vendors, how does Stéphane foster and develop key relationships?

“Face to face communication wherever possible,” he says. “In all relationships trust and honesty should be the more important factors. Win/ lose relationships in supply chain will never succeed and for the relationship to work it must be reciprocal.”

“Veranda Leisure and Hospitality is very lucky to have such great suppliers

“If the ERP doesn’t deliver strategic information, procurement can’t develop any strategy” — Stéphane Lacoste, Group Procurement Manager, VLH

to be part of its supply chain. The a fri c a .busi ne ssc hief. com

V E R A N D A L E I S U R E & H O S P I TA L I T Y

process of involving our partners in our decisions is one of our success factors in our relationships.”

A key factor to developing these relationships is transparency and data capture through e-procurement. As the procurement sector becomes more agile and embraces technology further, Stéphane can assess its processes and share this information with VLH’s stakeholders. This he feels

20

“In procurement, each journey is a success only when you have a great team working with you and have great external stakeholders helping you to improve at every turn” — Stéphane Lacoste, Group Procurement Manager, VLH

60,000 Clients per year

1982

Year founded

2,000

Approximate number of employees

makes sense in order to foster relationships but also improve and enable growth as a business.

“E-procurement allows greater speed in the way we can do business and the easiness in which we can obtain information and make decisions based on that information,” says Stéphane. “Combine that with VLH’s international standard policies regarding good governance and how

NOVEMBER 2018

S U P P LY C H A I N

21

we rely on internal and external

VLH’s strategy over the coming years

auditors to challenge our processes

will be defined by an approach to

in order to improve what we do and I’d

continuous improvement, analysing

argue transparency is absolutely

and reanalysing its supply chain and

crucial to the VLH of today and the

procurement as it continues to play

one of tomorrow.�

an ever-increasing role in growing

Whatever the future holds for VLH

competitive advantage.

and the wider hospitality sector, procurement will continue to play a key role in enabling growth. With a number of hotel acquisitions already in the pipeline, a fri c a .busi ne ssc hief. com

LEADERSHIP

22

TECHNOP DRIVING INNOVATION IN MOROCCO THROUGH AN ECOSYSTEM OF ENTREPRENEURIAL GROWTH

WRITTEN BY

DA LE BENTON

Acting as a true incubator and accelerator for micro-enterprises and innovative SMEs to drive innovation in Morocco and wider Africa, Technopark continues to define Morocco’s business landscape

NOVEMBER 2018

OPARK

23

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LEADERSHIP

O

ver recent years, Africa has been experiencing a technology boom as more

and more young entrepreneurs and business ventures are embracing innovation and thus technology and redefining the African landscape.

Enabling this countrywide technology transformation requires infrastructure and solid foundations that empower individuals and equip them with the skills and knowledge in order to continue to propel Africa’s growth in the modern world. 17 years ago, a vision of a tech24

nology park located just about side Stellenboscch, a small town in the Western Cape province of South Africa, was brought to life. This vision, was the Technopark Stellenbosch.

“Technopark’s mission is to assist in the creation and development of companies in ICT, Green Tech and cultural industries in Morocco,” says Lamiae Benmakhlouf. Directeur General, Technopark (MITC). “Today, Technopark is focused on co-creation, open innovation and scale up as we provide companies with support services such as financing, market access, networking, training and technological support.”

NOVEMBER 2018

“ With these services, what the Technopark looks to do is to provide the entrepreneur or the company with the freedom they need in order to be able to focus their business development and efforts on other added value activities” — Lamiae Benmakhlouf, Directeur General, Technopark (MITC)

Managed by the Moroccan Information Technopark Company (MITC), which is a limited liability company joined owned by Moroccan public and private sectors, Technopark has firmly established itself as a true incubator and accelerator for micro-enterprises and innovative SMEs to drive innovation in Morocco and wider Africa. To date, Technopark is home to more than 1000 companies, an evolution that Benmajhlouf has had the pleasure of witnessing first-hand.

“Since its inauguration in 2001, Technopark has successfully met the challenges of innovation, set up a dynamic and complementary entrepreneurial ecosystem, a sectoral openness (green tech and cultural industries) as well as the duplication of the Technopark model in other cities (Rabat and Tangier),” she says.

a fri c a .busi ne ssc hief. com

25

LEADERSHIP

26

“ Since its inauguration in 2001, Technopark has successfully met the challenges of innovation, set up a dynamic and complementary entrepreneurial ecosystem, a sectoral openness (green tech and cultural industries) as well as the duplication of the Technopark model in other cities (Rabat and Tangier)” — Lamiae Benmakhlouf, Directeur General, Technopark (MITC)

“In the last 10 years, Technopark has built up a strong ecosystem formed by the main entrepreneurship and

Through Technopark, companies have

innovative actors whose headquarters

around the clock access to “infrastruc-

are located in all of our Technoparks

ture-ready” premises. With prices at

(Casablanca, Rabat & Tangier). This ap-

preferential rates, and dedicated offices

proach is helping Technopark to fulfil its

designed to the highest of standard,

wide range of services by providing

Benmakhlouf feels that these premises

innovative strategies that help answer the

are ideal for the acceleration of tech

main needs of technology companies,

start-ups and entrepreneurs.

start-ups and entrepreneurs.”

NOVEMBER 2018

Through a quality management

legal and advisory services for both the CEO and employee community.

“With these services, what the Technopark looks to do is to provide the entrepreneur or the company with the freedom they need in order to be able to focus their business development and efforts on other added value activities,” says Benmakhlouf.

A cornerstone of the success of Technopark is the duplication of the Technopark model, which represents two axis of the company’s business strategy. Built up of four key axes, regional duplication, sectorial duplication, development of the ecosystem and participative culture, Technopark’s strategy is already paying dividends with the company’s expansion into Rabat in 2012 and more recently into Tangier in 2015.

Since its creation, Technopark has system, Technopark set a clear priority

been engaged in a regionalisation

in order to provide dedicated offices

strategy to duplicate its concept in

with high standards and a wide range

order to extend and create new

of associated proximity services. These

innovative communities across Africa.

services include telecom services, travel

In order to achieve this, Benmakhlouf

agencies, and access to a local bank and

recognised that Technopark needed

legal advice. Companies will also be able

to look within the company and assess

to access the Technodesk, a “one-stop”

how to effectively and efficiently

service with a panoply of administrative,

recreate the operational model. Most a fri c a .busi ne ssc hief. com

27

LEADERSHIP

notably, she needed to understand whether it would require operational change. “The regional duplication required an internal reorganisation and the adoption of a new information system, with a view to a complete digitisation of processes and the effective management of the customer

$90mn

Annual Turnover

relationship,” she says.

This is key in understanding where to look to expand next. After all, each new market has its own unique nuances and challenges that must be navigated in order to succeed. There 28

2,000

Approximate number of employees

is no one size fits all mentality. “The Technopark duplication approach is conducted with a prospective approach in different cities. We’ve researched heavily and identified that those who seem to be best for the next settlements are Agadir, Fez and Oujda.”

Part of Technopark’s very mission statement is to create an ecosystem that allows SMEs, start-ups and technology companies to navigate the challenge of growing and scaling in an exploding market. Technopark is not exempt from these challenges and so the company attracts and works with some of the major institutions and associations that aim to provide NOVEMBER 2018

“ Technopark positions itself as a facilitator between its client companies and organisations that can provide support” — Lamiae Benmakhlouf, Directeur General, Technopark (MITC)

29

support to innovative entrepreneurs.

based in Technopark that provide

This, Benmakhlouf feels, enables

mentoring, training and financing. An

Technopark to better understand the

example of this is Reseau Entrepren-

needs of its community as well as

dre Maroc, which offers financing

ways in which MITC can also over-

and support by an expert for three

come these challenges.

years,� says Benmakhlouf.

MITC works with Maroc Numeric

“The companies situated in the

Fund, a public private fund that

Technopark have needs for market

provide early and mid-stage funding

access, access to finance and skills.

to IT companies and at $10mn is the

Technopark positions itself as a facilitator

one of the first and largest funds

between its client companies and

dedicated to the IT sector in Morocco.

organisations that can provide support.�

There are a number of institutions

The Technopark has attracted more a fri c a .busi ne ssc hief. com

LEADERSHIP

than 280 companies which employ over 2000 employees. These companies work across a vast array of sectors including Big Data, Blockchain, Artificial Intelligence, Green Tech and Digital Marketing to name a few. With a combined annual turnover of more than $90mn, representing 90% of Morocco’s entire IT turnover, the Technopark is well and truly the key accelerator hub it set out to be back in 2001.

Benmakhlouf has been a part of this journey from the very beginning and after 17 years of working with MITC, she feels honoured to have played and to continue 30

to play a key role in unlocking and developing an innovative future for Morocco. “I am blessed to have had 17 incredible years of overwhelming experience witnessing and playing a key role in the evolution of the Technopark and Morocco,” she says.

“Being at the head of a structure such as the Technopark provides me with a great challenge. Working with technological start-ups and observing their evolution is a realisation in itself. Technopark has undergone a great evolution in recent years with a thousand entries, regional expansion and great success stories and the ambition is for the Technopark ecosystem to continue to serve start-ups and promote even greater innovation across Morocco.”

NOVEMBER 2018

31

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TECHNOLOGY

34

SALESFORCE.ORG EMBRACING INNOVATIVE TECHNOLOGY TO ENABLE SOCIAL GOOD AROUND THE WORLD By connecting nonprofits and educational institutions to innovative technology, Salesforce.org creates a better world for tomorrow WRITTEN BY

DA LE BENTON

NOVEMBER 2018

35

TECHNOLOGY

T

echnology, when used for good, can truly change the world. This is the core belief of Salesforce. org, a social enterprise that places the greatest

technology the world has to offer into the hands of nonprofits and educational institutions in order to enable them to connect their organisations and accelerate their impact. Salesforce.org is defined by three key pillars, technology, resources and people. These key pillars represent the ways in which Salesforce.org can deliver on its vision of empowering non-profit organisations and educational sectors all over the world.

“Technology can do the most amazing things when used for social good, but it has to be applicable and

36

appropriate for a non-profit to be able to use,” says Charlotte Finn, VP Global Strategic Relations. “What we’ve done is developed technology specific for those area. So, we’ve taken fundraising technology, volunteer management technology, donation management technology and student management technology and really tailored them to our market. This approach has made a significant difference.”

Formally known as the Salesforce Foundation, Salesforce.org leverages the Salesforce Customer Relationship Platform (CRM) and made it accessible to non-profit organisations and developed its own non-profit specific technology solutions. What this does is allow some of the smaller non-profit organisations to access and leverage the same technology as some of the largest non-profit or

NOVEMBER 2018

37

“ Every single year, we surpass our volunteering targets because we are an organisation made up of employees who are passionate about the real difference each and every one of them can make” — Charlotte Finn, VP Global Strategic Relations

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TECHNOLOGY

corporate companies in the world.

Finn points to Child’s i Foundation, a foundation designed to “rewrite the script” for all children in orphanages across Uganda.

“Childs i Foundation was founded by one person with a vision of simplifying the process of tracing blood relatives for orphaned children and reconnecting them with their families,” says Finn.

“What she did was build a case management system using Salesforce CRM to track a child’s family then work with the Ugandan government and 38

local social services top accelerate the flow of adoption in the country. It was really incredible.”

Child’s i is a perfect example of the way in which Salesforce.org delivers on its vision but in order for the foundation to be able to benefit and lever-age Salesforce’s technology, it called upon Salesforce.org’s second key pillar, resources. As a foundation, Salesforce.org is a granting foundation and grants funding specifically in the areas of workforce development and in education. Finn believes that in order to drive technology and innovation, the organisation must start enabling the next generation to have NOVEMBER 2018

“ Technology can do the most amazing things when used for social good, but it has to be applicable and appropriate for a non-profit to be able to use” — Charlotte Finn, VP Global Strategic Relations

CLICK TO WATCH : ‘HOW GEORGETOWN CREATES A PERSONALISED STUDENT EXPERIENCE’

incredible opportunities to do so.

Across its entire global portfolio,

we can fill them,” says Finn.

This is where the organisation’s

Salesforce.org has granted more than

third pillar comes into play, people.

$220mn into non-profit and education-

Salesforce.org provides every single

al organisations to build what Finn des-

employee with seven day’s volunteer-

cribes as future ready programs. These

ing and actively encourages each

future ready programs will create the

employee to go out and volunteer with

next generation of technology enabled

non-profit organisations to train and

individuals all around the world.

develop the skillset and capabilities

“Take the UK as an example: In the

of individuals. To date, the organisation

next few years there are close to

has registered more than three million

745,000 IT jobs that are going to be

hours of volunteering work worldwide.

made available and this is just in the

“Every single year we are asking our-

UK alone. We have to think about how

selves, how are we going to continue a fri c a .busi ne ssc hief. com

39

TECHNOLOGY

this and improve and give more time?”, says Finn. “Every single year, we surpass our volunteering targets because we are an organisation made up of employees who are passionate about the real difference each and every one of them can make individually as well as collectively.”

An inescapable challenge that comes with technology and innovation is readiness and whether or not there is the right skillset and capabilities to fully embrace technology. As an organisation looking to connect non-profit and 40

educational sectors from all over the world to the latest technology solutions, this challenge is only exacerbated. Finn recognises this and admits that there are more mature and ‘techready’ countries and markets in some parts of the world than others.

The one thing she does note however, is the demand for technology. “There is a huge appetite to become tech ready and in fact, sometimes it’s the systems and solutions that aren’t ready to match that appetite,” she says. “There are some incredible, innovative organizations down there that want to harness the powers that technology can give

NOVEMBER 2018

“ Sometimes it’s actually technology that has to be ready.

So as developers, we have to catch up with some of their innovative concepts” — Charlotte Finn, VP Global Strategic Relations

them. But because they are so innovative, because they are so amazing the delivery, especially to the last mile, when you’re right out in the field, it’s not there yet. Sometimes it’s actually technology that has to be ready. So as developers, we have to catch up with some of their innovative concepts.”

To this end, Salesforce.org builds and invests into a number of education programs and educational workforce development programs that are accessible both externally and internally.

One such example, is Trailhead. Trailhead is an online tool that provides training, badges and accreditation to all staff and employees. Finn feels this is key because it shows that technology education is just the beginning, its Trailhead enables them to take that education and make a real difference.

Given the incredible rate in which technology has evolved and will continue to evolve, the technology conversation has shifted immensely. Historically in the non-profit sector, Finn feels that people have always looked to tackle situations by themselves. Only through public and private partnerships and working collaboratively with NGOs and

a fri c a .busi ne ssc hief. com

41

TECHNOLOGY

37,000+

Nonprofit and education customers

$320mn+ Grants

3.2mn 42

Service hours

NOVEMBER 2018

organisations like Salesforce.org can the sector truly embrace and ride the digital wave. “There is much stronger appetite for the collaboration amongst companies to enable this to happen,” she says. “As more and more of these entities are coming together and creating a collaborative approach, we are starting to see more of these challenges being addressed and tackled more successfully, much more quickly.”

The technology conversation shows no signs of slowing down and Salesforce. org will continue to play a key role in enabling the non-profit organisations of the world to access the greatest and most innovative technologies the world has to offer.

For Finn, it will always be about one thing.

“It really is to enable technology to be used for social good,” she says. “I know it’s a trite answer but its true. We can really help the world through technology. The work we do is truly game changing.”

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43

CITY FOCUS

City Focus

44

With one of the fastest growing economies in 2018, Accra looks set to define the future of Ghana by investing in the technologists and entrepreneurs of today and tomorrow WRITTEN BY

DALE BENTON

NOVEMBER 2018

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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

CITY FOCUS | ACCRA

I

n the summer of 2009, then President of the United States of America Barack Obama addressed the Ghanaian parlia-

ment in Accra. “I’ve come here to Ghana for a simple reason: The 21st century will be shaped by what happens not just in Rome or Moscow or Washington, but by what happens in Accra, as well,” he said. “Your health and security can contribute to the world’s health and security. And the strength of your democracy can help advance human rights for people everywhere.”

He closed his speech with a striking message, 46

that this was the moment that Africans of tomorrow’s world will look back upon and say that this was the time when the promise of Accra was realised, when prosperity was forged and a new era of progress began.

Powerful words, but almost 10 years later, how has Accra responded?

A GROWING POPULATION OF THE NEXT GENERATION The capital city of Ghana, identified as the fastest growing economy in 2018 by The World Bank, Accra is the most populous city in Africa. As of 2018, Accra’s population of 4,010,054 represents around 16% of Ghana’s entire population.

In a report published by New World Wealth, Accra was found to be the 10th wealthiest city in Africa.

The city is home to around 2,3000 millionaires and NOVEMBER 2018

47

Ecobank Ghana Head Office, Accra

“THE 21st CENTURY WILL BE SHAPED

BY WHAT HAPPENS NOT JUST IN ROME OR MOSCOW OR WASHINGTON, BUT

BY WHAT HAPPENS IN ACCRA, AS WELL” — Barack Obama, Former US President a f r i c a . b u s i n e s s c h i e f. c o m

CITY FOCUS | ACCRA

100 multi-millionaires, with total wealth held in the city amounting to $35bn.

Combine the city’s huge population and its surging wealth with the fact that over half (56%) of its population are under the age of 24 and that shows a future for Accra defined by the younger generation. According to the World Population Review, 45% of Accra’s residents are also immigrants that have lived in other African countries, showing that Accra is well and truly a city on the up as more and more younger people move to the city to embark on their career journeys.

Accra represents the administrative, eco48

nomic and educational centre of Ghana.

NOVEMBER 2018

Some of the largest banks in Ghana have corporate headquarters located in the heart of Accra. These include Barclays Bank of Ghana, recently voted the best bank in Ghana, as well as First Atlantic Bank, Zenith Bank and Standard Chartered Bank. Accra is also home to the Electricity Company of Ghana, which celebrates 50 years as the leading supplier of electricity across the whole of Ghana.

ACCRA’S DIGITAL TRANSFORMATION Africa is experiencing a major boom in technology and network infrastructure,

Wealth held in city

with more and more Africans getting

$35bn

online over recent years. With major

2,300

technology transformation journey,

Millionaires

56%

Population under the age of 24 ACD Worth

$8.3mn

companies looking to invest across the continent to tap into and enable this one of the world’s major online powerhouses elected to establish an AI research center in the heart of Ghana.

Through its Launchpad Accelerator Africa program, Google has spent the last ten years delivering its digital skills training program to more than two million people. With a goal of reaching 10 million, while also supporting 100,000 developers and more than 60 technology start-ups, Google has and will 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 | ACCRA

continue to play a key role in the tech-

a successful launch earlier that year

nology transformation all across Africa.

in London. Tech in Ghana is a platform

In June 2018, the company announced

described as being at the “cutting

that it will open a Google AI Research

edge of Ghana’s technology land-

Center in Accra, designed to combine

scape, priding itself on being

its research interests in AI and machine

at the cusp of the country’s

learning with its experience in Africa to

next generation of entrepre-

push the boundaries of AI while solving

neurs, industry investors and

challenges in areas such as healthcare,

global collaborators”.

agriculture, and education.

But it’s not just Google that has turned

50

Following the success of 2017, the third conference will

to Accra to tap into the growing signifi-

be taking place in November

cance of the city and wider Ghana. In

2018 at the Accra Digital

2017, the very first Tech in Ghana Con-

Centre. Speakers at this year’s

ference took place in Accra following

event include the Head of Digital

CLICK TO WATCH : ‘TECH IN GHANA CONFERENCE LONDON 2018 HIGHLIGHTS’ NOVEMBER 2018

Transformation at Stanbic Bank Ghana, the General Manager of Mobile Money Ltd (MTN) as well as a number of CEOs of some of the most exciting and innovative technology start-ups from all across Ghana.

A CENTRE FOR ENTREPRENEURIAL GROWTH The Accra Digital Centre (ACD) is an $8.3mn digital centre built in collaboration by the World Bank, the Rockefeller Foundation and the Ministry of Communications Ghana. Located in the heart

‘THE ACCRA DIGITAL CENTRE (ACD) IS AN $8.3MN DIGITAL CENTRE BUILT IN COLLABORATION BY THE WORLD BANK, THE ROCKEFELLER FOUNDATION AND THE MINISTRY OF COMMUNICATIONS GHANA’

of Accra, the Accra Digital Centre was 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 | ACCRA

initiated as part of a vision to create opportunity for sustainable entrepreneurial employment for young Ghanaians. As a sign of its significance in a time of incredible technological growth, a new board was inaugurated to accelerate and champion the development and management of technology parks and digital centres across Ghana, specifically the ACD. Upon welcoming the board to the Accra Digital Centre, Ursula Owusu-Ekuful, the Minister of Communications, said that the board would help the ACD realise its vision to “help position Ghana as a regional digital hub to enable the country leap into the digital age”.

52

Supporting this leap into the digital age, will be West Africa’s first Tier IV data center which is being constructed as part of a collaboration between Etix Everywhere, Ngoya and Africa Investment Groiup (AIG). Announced at the end of 2017, the multi-tenant data center will be carrier-neutral and will also include the construction of a nearby solar plant that will provide round the clock power to the data center. “The boom in internet access on the African continent will lead to an increasing demand for carrier-neutral data centers,” said Antoine Boniface, Managing Director of Etix Everywhere. “This is the reason we are delivering a network of interconnected data centers providing a Pan African platform for the delivery of digital services.”

NOVEMBER 2018

‘AS A SIGN OF ITS SIGNIFICANCE IN A TIME OF INCREDIBLE TECHNOLOGICAL GROWTH, A NEW BOARD WAS INAUGURATED TO ACCELERATE AND CHAMPION THE DEVELOPMENT’

These are but a few examples of Accra’s transformational growth. With a population growth rate that shows no signs of slowing down, Government readily embracing this new world of tomorrow by investing in the necessary infrastructure to provide a true platform that will incubate, accelerate and foster the next generation of entrepreneurs, businesses and technology companies that will define the future of Accra.

As President Obama himself said, Accra will play a significant role in shaping the 21st century as a shining example of what Africa can bring to the world stage.

Etix Accra #1 is a carrier neutral colocation data centre 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

TOP 10

54

wealthiest Africans FOR THE WEALTHIEST PEOPLE IN AFRICA, 2018 HAS PROVEN TO BE A YEAR OF GROWTH. THANKS IN PART TO RISING STOCK MARKETS AND AN UPSWING IN COMMODITY PRICES, THE RICHEST AFRICANS SAW THEIR COMBINED WEALTH SOAR OVER THE LAST 12 MONTHS TO A COMBINED TOTAL OF $75.4BN. WE LOOK AT THE 10 RICHEST PEOPLE IN AFRICA, ACCORDING TO THE FORBES 2018 RICH LIST

WRITTEN BY

NOVEMBER 2018

DALE BENTON

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=09 Mohamed Mansour Net worth: $2.7bn

Born into one of the most prominent business families in Alexandria, Egypt, the Mansour Group (TMG), Mohamed Mansour took over TMG in 1976. Over the course of his career, Mansour was the founder and chairman of Mansour Automotive Company (one of the biggest distributors of General Motors in the world) and Unatrac (Caterpillar’s Egypt distributor) as well as former Chairman of Credit Agricole Egypt – the second largest bank in Egypt.

NOVEMBER 2018

=09

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Isabel dos Santos Net worth: $2.7bn

The daughter of the long-time former president of Angola, Jose Eduardo dos Santos is the richest woman in Africa. With a career spanning 20- years, dos Santos built most of her fortune from a number of foreign investments while situated in Luanda. These include a 29% stake in Netherlands-based telecom company ZON Multimedia, as well as being a member of the board of the Angolan bank Banco BIC PortuguĂŞs. Most recently, dos Santos helped bring Sonae into Angola. The biggest retailer in Portugal has since opened five food hypermarkets across the country. Sehe is currently the CEO of Angola diamonds.

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08 Koos Bekker

Net worth: $2.8bn Jacobus Petrus “Koos” Bekker is the Chairperson of Naspers, a global internet and entertainment group and one of the largest technology investors in the world. With a presence in more than 130 countries all around the world, the company has a market cap of $112.8bn. In 2001, he played a key role in the company’s $32mn injection in then start-up company, Tencent. Tencent has since become the first Asian company to cross a market valuation of $500bn.

NOVEMBER 2018

=06

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Naguib Sawiris Net worth: $4bn

The Egyptian businessman built his fortune in the telecom industry, having founded Global Telecom Holding back in 1998 with 200,000 subscribers which has since grown exponentially to more than 102 million subscribers today. He also founded Orascom Telecom Holding OTH and then stepped down as CEO following the $6.6bn merger with Vimpelcom Ltd (now VEON), creating the world’s sixth largest mobile telecommunications provider in April 2011. Sawiris also has interests in Evolution Mining and Endeavor Mining, with a 20% stake in each company respectively.

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=06 Issad Rebrab & family Net worth: $4bn

The founder and CEP of Cevital, the largest privately heldconglomerate in Algeria, Issad Rebrab owns and operates one of the largest sugar refineries in the world with a capacity to produce two million tons a year. The company operates in food processing, automotive and services, industry, and distribution sectors and in May 2018, the company signed a deal with JSW Steel to sell the second largest steel firm in Italy (owned by Cevital) in a deal worth Rs 6bn ($83mn).

NOVEMBER 2018

05

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Mike Adenuga

Net worth: $5.3bn

The second richest man in Nigeria, Mike Adenuga built his fortune in the telecom industry and oil production. He is the founder of Globacom, which is now known as Glo, one of the biggest telecommunications network providers in Africa. Since its creation in 2003, Glo has recorded a profit of just over $4bn. Adenuga is also the founder and CEO of Conoil, the leading Nigerian independent oil and gas exploration and production company. Over recent years, Conoil has experienced exponential year-on-year growth and recorded a profit of N809bn ($2.2mn) in 2018.

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04 Nassef Sawiris Net worth: $6.8bn

Nassef Sawiris is the youngest son of Onsi Sawiris, the father of the wealthiest family in Egypt. Serving as CEO of Orascom Construction, one of the largest engineering and construction contractor companies in the world, Sawiris split Orascom Construction into two entities back in 2015; OCI and Orascom Construction. He now serves as CEO of OCI, which is one of the largest nitrogen fertiliser producers in the world. He also has holdings in Larfarge Holcim and Adidas.

NOVEMBER 2018

03

63

Johann Rupert

Net worth: $7.2bn

Johann Rupert is the chairman of Richemont, the Switzerland-based luxury goods company. As founder and CEO, Rupert has overseen incredible growth in acquiring some of the world’s leading fashion brands. These include Azzedine Alaïa, Chloé, and Dunhill, as well as Van Cleef & Arpels, Vacheron Constantin and Cartier. In 2010, Richemont invested $550mn to acquire 100% of the world’s premier online luxury fashion Net-a-Porter. Rupert is also part of a 50/50 joint venture partnership with Polo Ralph Lauren, which operates the Ralph Lauren Watch and Jewelry Company.

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Nicky Oppenheimer Net worth: $7.7bn

Nicky Oppenheimer served as Chairman of De Beers Group, the world’s leading diamond company, for over a decade before retiring in 2012 following the company’s acquisition by Anglo American which saw Oppenheimer 64

sell his 40% stake for $5.1bn in cash in 2012.

He owns a 1% stake in Anglo American through the sale. Nicky was the third generation of Oppenheimer to run De Beers, with Ernest Oppenheimer (who founded the company in 1917) officially assuming the role of chairman of De Beers back in 1929.

NOVEMBER 2018

02

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Aliko Dangote Net worth: $12.2bn

The richest man in Africa, Aliko Dangote founded and chairs Dangote Cement which is the largest cement producer on the continent. He is the majority owner of the company with an 88% stake. The company produces around 29.3MTA of cement in Nigeria alone and produces more than 66

45MTA per year across the whole of Africa.

The company recorded a net profit of more than $2bn in 2017. Running alongside Dangote Cement is the Aliko Dangote Foundation.

The main objective of the Foundation is to reduce the number of lives lost to malnutrition and disease. In 2015, the Dangote Foundation played a key role containing the spread of Ebola in Nigeria and other parts of Africa. The Foundation was the biggest private contributor to the African Union Ebola Trust Fund with a donation of $3mn.

NOVEMBER 2018

01

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NOVEMBER 2018

TECHNOLOGY

A D I G I TA L BA N K I N G EC O SYST EM

— MauBank WRIT TEN BY

ANDRE W WOODS PRODUCED BY

JUS TIN BR AND

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69

M A U B A N K LT D

Chief Information and Digital Officer Sudheer Prabhu is the man taking MauBank’s digital transformation strategy forward…

M

auritius is undergoing something of a banking boom right now. The island is fast becoming known as a growing, stable

financial hub with banking options in sub-Saharan Africa often preferred to the often-volatile African markets; there is currently $38bn in banking sector 70

assets held offshore. Cross-border banking in Africa, since the global giants vacated the area following the global financial crisis in 2008, has opened up many areas of growth and MauBank – Mauritus’ third largest bank – is one such beneficiary of this new space.

To keep its customer offerings aligned with the demands of the modern marketplace, while operating as efficiently as possible, MauBank is in the process of digitalizing its customer journey and operational processes as it undergoes a transformation through engineering of business processes to bring operational efficiencies while reducing cost across the company. This is an overhaul that is seeing major growth at the bank as it reaches out further afield for new clients, and areas of expansion. Chief

NOVEMBER 2018

TECHNOLOGY

71

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TECHNOLOGY

Information and Digital Officer Sudheer Prabhu is the man taking MauBank’s digital strategy even further. “I was hired to put a digital strategy in place, which is in line with the management’s vision of the bank that completely supports technology-driven processes and initiatives to enhance the customer experience as well as bringing in operational efficiency,” Prabhu explains.

One of the initial considerations behind the changes at MauBank related to the current regulatory environment of the market. “To create a strategy, you need to understand the current market situation and regulations,” he explains. “’What is the current regulatory environment in which we are operating as a bank?’ So, we did a bit of research before working on a three-pronged strategy.”

The first initiative launched by Prabhu and his team was the total digitisation of the bank’s board, rendering the internal operations

“ Our entire board meeting is now done on tablets with uploaded papers. That was where we started the digital journey” — Sudheer Prabhu, Chief Information and Digital Officer

at MauBank paperless. “Our entire board meeting is now done on tablets with uploaded papers. That was where we started the digital journey,” Prabhu explains.

With any large-scale implementation of new technologically-driven processes, staff have to be comfortable with the new processes and technologies. “You really need ambassadors within the organisations,” Prabhu explains. w w w.a fri c a busi ne ssc hief. com

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TECHNOLOGY

CLICK TO WATCH : ‘MAUBANK — OUR VALUES’ 75 “Which means the staff must be ena-

banking application was already here

bled before they can first embrace the

for our banking transactions, so we

digital transformation. This has to hap-

could then connect small micro-services

pen before we can tell our customers and

to it through the API (application prog-

before we engage with customers and

ramming interface). So, our strategy

enable them with digital tools.

was to start with implementation of the

“We then embarked on creating an open and flexible digital eco system that enables new business insights and

ecosystem, to enable us to move fast in the digital era.”

MauBank migrated to a newly-devel-

opportunities, leveraging the power of

oped HR system, which interacts with

data, while at the same time providing

a mobile banking application so that

anytime, anywhere access to Bank’s

staff can now use their mobile to get

customers, so we could be agile, quick

details for approval. “Everything is

to market and faster when implement-

digital. We have our internal social media

ing newer technologies. A strong core

platform too, and so the digital seed is w w w.a fri c a busi ne ssc hief. com

M A U B A N K LT D

“ Everything is digital. We have our internal social media platform too, and so the digital seed is already born 76 in the staff.

Now they are embracing the digital transformation and how it can benefit them” — Sudheer Prabhu, Chief Information and Digital Officer

NOVEMBER 2018

already born in the staff. Now they are embracing the digital transformation and how it can benefit them.”

Once the internal landscape had been reconfigured the bank could focus its attention out towards the customer. MauBank began with paperless account opening at branches for walk-in customers using a workflowbased system from Laserfiche. Prabhu was then tasked with further enhancing the customer experience. “We were now ready to launch a unique mobile application to our customers that enables them to open accounts sitting in their homes using their National Identity Cards through technologies like OCR (optical character recognition) and RPA

TECHNOLOGY

CLICK TO WATCH : ‘ABOUT MAUBANK — PERSONAL AND BUSINESS BANKING’ 77 E X E C U T I V E P R OF IL E

Sudheer Prabhu Sudheer has over 27 years of experience in the banking industry. He has worked at some of the most highly reputed international banks, implementing corebanking and digital banking solutions.

His key experience is around formulation of Digital Transformation Strategies for customer acquisition, servicing and enhancing user experience for both Retail and Corporate customers using disruptive technologies like APIs, Machine Learning and Artificial Intelligence.

Sudheer also has experience in formulating strategies for cost reduction and increase productivity through use of technologies like RPA for automation of processes.

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M A U B A N K LT D

MUR

995.2mn Approximate revenue

2016

Year founded

650

Approximate number of employees 78

NOVEMBER 2018

TECHNOLOGY

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“ To create a strategy, you need to understand the current market situation and regulations” — Sudheer Prabhu, Chief Information and Digital Officer

TECHNOLOGY

81

(robotic process automation). We are

gies to the bank and kickstarted the

using the API to connect online with

process with a simple FAQ chatbot,

our core banking system for the crea-

following on from the success of bots

tion of these accounts. As of last year,

with more specific functions, onto

we introduced multiple features to

the company’s website. “Our virtual

our banking application to enable our

assistant was the first full-fledged

400,000-strong client base to enhance

FAQ banking bot on the island. and it

their experience and banking needs.

uses artificial intelligence in respond-

In short, we are trying to take the

ing to the customer. When more

bank to their homes, rather than them

questions are added, it can interpret

coming to us.�

and respond to the queries. The next

Prabhu then focused his effort on

phase is to take this conversational

bringing Artificial Intelligence (AI),

AI platform to the next level by provid-

Machine learning and NLP technolo-

ing transactional services. w w w.a fri c a busi ne ssc hief. com

M A U B A N K LT D

NOVEMBER 2018

TECHNOLOGY

“ We are trying to take the bank to their homes rather than them coming to us” MauBank and its staff are involved in many environmental and social projects.

Below: Staff engagement activity for children living in shelters.

— Sudheer Prabhu, Chief Information and Digital Officer

As MauBank builds on the concept of bringing the bank into the home for its customers, Prabhu has now started working on enabling customers to apply for loans from their homes, with an online lending solution which leverages RPA and API technologies ready to launch in the near future.

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Atlas Mara: Banking on digital transformation WRIT TEN BY

ANDRE W WOODS PRODUCED BY

JUS TIN BR AND 84

TECHNOLOGY

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AT L A S M A R A

We speak to Teza Ngulube, Country Head, Retail and Digital Banking, at AtlasMara Zambia to see how the bank is making a success of its digital transformation‌

B 86

anking is undergoing nothing short of a technological revolution. With every aspect of the financial sector undergoing

dramatic overhauls of internal operations to provide up-to-the minute customer-facing offerings, there

Official opening of the 1st Atlas Mara Branch

is not a corner of this market that is not reconfiguring its infrastructure, strategy and processes. Atlas Mara is a bank focussed on investments and operations within sub-Saharan Africa and it too has radicalised its business to keep up to spin with all the latest disruptive technology in the sector.

The person charged with overseeing this sometimes tricky transformation for Atlas Mara Zambia is Teza Ngulube, Country Head Retail and Digital Banking. Having previously served with Zanaco and Standard Chartered Bank, Ngulube joined Atlas Mara Zambia to take charge of its Retail & Digital operations after the merger of Finance Bank and BancABC. From the very onset, the need to leverage NOVEMBER 2018

A member of the Atlas Mara staff with Group Chairman, Mr. Bob E. Diamond Jr.

TECHNOLOGY

87

technology to drive retail customer relationships was apparent and required swift transformation of our capabilities to allow us remain a credible choice for both our new and existing clients. “I joined Atlas Mara in February this year,” Ngulube explains. “And it’s really been about making sure the bank has high-quality products that are working to meet customers’ expectations. The banks went through an important amalgamation that saw two banks become one. Each had very different profiles in every aspect. The technology from both sides also had to come together for a digital banking solution that a fri c a .busi ne ssc hief. com

AT L A S M A R A

Atlas Mara staff with management and the group’s board members 88

worked for the new consolidated bank.”

very stable on Flexcube,” he says. “And

The starting point of the journey was

it has given us room to now focus on

to ensure we had a single core banking

the peripheral infrastructure.”

system. We had to prioritise the migra-

One area where Ngulube directed

tion of customers that were sitting on

his efforts was that of the bank’s ATMs.

a lower version of the core banking

“There’s a new culture at Atlas Mara

system to the higher version that today

and we needed to make sure that we

stands as our core banking system. “It

have an ATM network that works and

was a difficult process but we are now

delivers expectations from an uptime

Chris Mwelo Head of Global Markets and Treasury NOVEMBER 2018

Bonaventure Mbewe Head of Legal

Betsy Nkhoma Head of Corporate Banking

TECHNOLOGY

“It’s really been about making sure the bank has highquality products that are working to meet customers’ expectations” — Teza Ngulube, Country Head Retail and Digital Banking perspective, so we decided to replace

procurement and deployment of

90 of our ATMs out of a fleet of about

these 90 ATMs, which they were able

175. Additionally, we have also migrated

to deliver in good time.

to a new ATM switch powered by CR2, which gives us better connectivity,

DIGITAL BANKING

better response, and ultimately,

Mobile banking is now a given for any

a better customer experience.” The

financial institution in modern times and

local NCR team supported Atlas Mara

enquiries such as balance checks are

Zambia with the whole process of

critical, as is the ability to move money.

Otis Zulu Head ofAudit

James Koni Managing Director

Hele Lunda Public Sector & NGO’s a fri c a .busi ne ssc hief. com

89

AT L A S M A R A

90

Staff during branch launch NOVEMBER 2018

TECHNOLOGY

“There’s a new culture at Atlas Mara and we needed to make sure that we have an ATM network that works and delivers expectations from an uptime perspective” — Teza Ngulube, Country Head Retail and Digital Banking

a fri c a .busi ne ssc hief. com

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AT L A S M A R A

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TECHNOLOGY

“We had two separate mobile banking platforms for the two banks prior to the amalgamation and for each, we had

an agency banking solution, covering both the app and USSD.” “So, as of 1 August, we have delivered

some critical failure points. It became

the mobile banking application, which

relevant for us to define a fresh mobile

is currently the best mobile app in the

banking platform that compensated

market. It has a very easy first self-reg-

for both banks to give us the right

istration process, and you are logged

positioning as Atlas Mara Zambia. We

on, it presents a user friendly landing

have rolled out a new mobile banking

page that is easy to navigate. You can

platform, provided by a company called

move money about with ease within

ModefineServer, which has given us

Atlas Mara and to other bank accounts

three different solutions. They’re giving

and you can also move funds between

us the mobile banking solution that

your prepaid cards.”

covers both USSD (unstructured

“The biggest partner right now is

supplementary service data), as well as

ModefineServer, whom have been able

the app. They’re also going to give us

to deliver our mobile banking solution;

a wallet solution, covered in both USSD

which includes the wallet as well as the

and an app. And they’re also giving us

agency banking. They have really stood

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

Teza Ngulube Teza Ngulube has over 12 years of retail banking experience covering both middle management and senior level.

Teza’s experience covers retail branch network management driving sales productivity, client experience and governance to drive revenue and balance sheet growth whilst leading a highly motivated and engaged team.

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AT L A S M A R A

“We are working on building an agency banking model that reflects our aspirations.

We are going to be building a model based on partnerships” — Teza Ngulube, Country Head Retail and Digital Banking

94

Atlas Mara’s Katete Branch

out over that last couple of months and

a lot of time without a functioning mobile

they’ve just been fantastic, and we have

solution. It is also interesting to see the

achieved quite a bit with them. I would

growth on the USSD channel, because

also like to mention our Oracle support

initially we had most of the downloads

team, who have been holding our hand

coming through on the app. But then, all

throughout these projects.”

of a sudden, we saw a strong shift on the USSD side. In this case, that’s where we

SUCCESS

expect most of the traffic. So, we made

Ngulube is proud to announce at the

some good traction there. Right now, we

time of writing that the service has just

are still at the stage of trying to get more

hit 10,000 downloads on the Google

and more customers onto the platform

Play store. “The total registrations today

given our customer base of 150,000.”

were 22,000. So, 12,000 on USSD

Atlas Mara Zambia is just starting

and 10,000 on the apps is considerable

the migration of its customers to the

progress, given that we have spent

new wallet solution, Tenga; a low KYC

NOVEMBER 2018

TECHNOLOGY

95 product that anybody with a mobile

has the largest agency banking network

phone can register on via USSD or even

in the country, Zoona. We are in discus-

the app. This game changing product

sions with them – they have in excess of

is available to everyone with a mobile

2,000 agents right across the country,

number and Zambian National ID – you

and we are looking to see how we can

don’t have to be an existing customer

leverage their network,” says Ngulube.

of Atlas Mara bank to be eligible.

“Tenga represents the birth of our

With Tenga, we will be fulfilling a critical need to allow financial inclusiveness

mobile money solution and to support

at all levels of society irrespective of

its relevance, we are working on building

geography across Zambia.

an agency banking model that reflects our aspirations. We are going to be building a model based on partnerships.

We have a couple of partners already on the cards, and one of them actually a fri c a .busi ne ssc hief. com

FNB FIDUCIARY 96

Helping customers protect their families by digitizing the will-making process WRIT TEN BY

SE AN GA LE A-PACE PRODUCED BY

JUS TIN BR AND

NOVEMBER 2018

TECHNOLOGY

97

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F I R S T N AT I O N A L B A N K S A

98

CIO Jaco Coetzee and CEO Vijay Morarjee of FNB Fiduciary discuss how they are educating the market to set up wills

I

n this new technological

recognize the importance of embracing

world, businesses are

new technology in order to maintain the

targeting many more

brands ecosystem.

diverse customer groupings, includ-

FNB’s Fiduciary believes in embrac-

ing millennials as new entrants to the

ing innovative technologies. “We have

financial services sector.

the vision and energy to build on and

Digital transformation has seen firms

develop customer centric innovations

such as First National Bank (FNB)

that drive our brand promise of ‘how

Fiduciary digitise their solutions and

can we help you’,” says Coetzee.

change the way they offer their services.

“Digital transformation is an ongoing

Chief Information Officer (CIO) of FNB

process. It’s been a long journey to get

Fiduciary, Jaco Coetzee, and Chief

to where we are now, but there is still

Executive Officer (CEO), Vijay Morarjee,

a lot more to be done. It’s such a great

NOVEMBER 2018

TECHNOLOGY

“We have the vision and energy to build on and develop customer centric innovations that drive our brand promise of ‘how can we help you’” — Jaco Coetzee, CIO

feeling to reap the rewards when so

ensure they maintain their customer’s

many components start to converge.”

need at the core of everything they do

The segment operates as part of a

and transitioning to paperless systems

division of FirstRand Bank Limited and

and processes, thereby making it easier

is one of the largest financial institutions

for customers to engage with them.

in the country. As a fiduciary, FNB has a legal responsibility to look after its

SWITCHING FROM LEGACY

customers with the Fiduciary division

However, Coetzee stresses that the

offering wills, trusts and administration

process of switching from a legacy

of the deceased estates. With digital

system for FNB Fiduciary challenged

transformation in mind, FNB Fiduciary

the team to come up with creative

is in the process of reviewing its strategy

practices and solutions that will make

including the use of contextual data to

everything they do re-usable with a a fri c a .busi ne ssc hief. com

99

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TECHNOLOGY

CLICK TO WATCH : FNB’S SMARTPHONE APP SUPPORTS EXISTING PRODUCTS TO PROVIDE IMPROVED CUSTOMER SERVICE 101 focus on enhanced customer centricity “Legacy systems have been a chal-

design and implement new architecture. When Fiduciary started the

lenge, but Fiduciary has found ways

journey, one of the first things we did

to work with it. If you are able to build

was to assess the server and software

around a core system capability and

landscape. Fiduciary was already on

modernize, differentiate the niche

modern infrastructure running 100%

capability as re-usable components

on virtual infrastructure, but we have

around the core system, that is great

not yet reviewed the applications

because you do not have to go and

running in those virtual machines,”

re-invent the wheel,” explains Coetzee.

affirms Coetzee.

The switch to digital saw FNB make

“Fiduciary ended up re-building the

significant savings across Fiduciary’s

entire server landscape, consolidating

infrastructure through the implementa-

applications with similar workloads,

tion of new architecture.

sharing infrastructure where we could

“FNB has great in-house capability to

and saving about 75% on hosting costs a fri c a .busi ne ssc hief. com

F I R S T N AT I O N A L B A N K S A

“ There is an ongoing drive to ensure that we protect our customers by equipping as many of them as possible with a will” — Vijay Morarjee, CEO

102

NOVEMBER 2018

TECHNOLOGY

across the infrastructure as well as drastically simplifying what we have to manage, automating the mundane maintenance tasks etc.”

With 80% of the deaths reported to the Master of the High Court South Africa confirmed as deaths without a will, Morarjee understands the considerable challenge of changing such a consumer mindset.

“There is an ongoing drive to ensure that we protect our customers by equipping as many of them as possible with a will.”

“Building an ecosystem that helps us operate at optimal levels through a platform approach is a core focus for the bank. This encourages and empowers our customers to take control of their banking, managing their finances and life goals.”

FNB, through its Fiduciary division – has become the first ever bank in South Africa to release an online will drafting platform that allows its customers to access their online banking and draft their own wills for free. By providing online software that asks the customer input questions such as how many children the customer has and in who’s care the customer wishes to a fri c a .busi ne ssc hief. com

103

F I R S T N AT I O N A L B A N K S A

104

place their children in the event of

in the digital space in an effort to reduce

tragedy as well as who should inherit

its reliance on paper. By providing its

their assets, has enabled FNB Fiduci-

product online, it has allowed them to

ary to provide all of its customers with

break into the digital sphere and expand

some form of protection.

their online footprint on platforms

“Big deployments, especially data migrations, need practice, practice,

like Google.

“FNB Fiduciary has always been

practice. The only way to sort out all the

a business that’s very paper-based,

kinks is to test every scenario you can

across all of the pillars, wills, trusts,

think of with the best data you can.”

estates, everything has always commanded a lot of paper. I think our big

UTILISING THE DIGITAL SPACE

challenge now is to see how much

Through FNB Fiduciary’s transforma-

of that paper we can cut out of our

tion journey, the company set itself up

ecosystem to make the administration

NOVEMBER 2018

TECHNOLOGY

1838

Year founded

30,000

Approximate number of employees

105

process simpler and more cost efficient.”

And it’s fair to say FNB Fiduciary

in the 21st century.’”

“The new application set us up to

certainly doesn’t believe in standing still.

free operations resources so that we

Coetzee maintains change is a part of

can spend our energy on innovation

evolving and being able to enhance

to ultimately enhance our product

products to enable a greater impact.

offering and journey.”

“Although I can’t remember where I heard it from, I try and live by follow-

FORMING RELATIONSHIPS

ing this quote: ‘Great operations take

But in order to achieve sustained suc-

advantage of change. Operations is

cess, Coetzee highlights the importance

the capability behind innovation, it

of forming good partnerships and draws

delivers on the promise. That’s what

similarities to the process of maintain-

makes it one of the most exciting, vital

ing personal relationships.

and dynamic aspects of the business

“The assessment of your partner is a fri c a .busi ne ssc hief. com

F I R S T N AT I O N A L B A N K S A

106

“ Building an ecosystem that helps us operate at optimal levels through a platform approach is a core focus for the bank.

This encourages and empowers our customers to take control of their banking, while managing their finances and life goals” — Vijay Morarjee, CEO

NOVEMBER 2018

TECHNOLOGY

the most important thing. Think about a long-term relationship,” says Coetzee.

“It has to be stronger together and this is something to think about when deciding on a partner in the corporate space.

You have to decide how you can help each other to grow.”

With the future in mind, Coetzee remains keen to keep pushing barriers and wants to ensure FNB Fiduciary are continuing to explore different ways to how their customers utilise data on an ongoing basis.

“There are so many ways customers want to communicate with us on our products and services. One of the big challenges is to pick the engagement channels that you want to use and be the best at it.”

“We also keep trying to find ways to use the data we have more effectively.

Our offerings need to be relevant to the customer’s current reality to ensure we improve their position.”

a fri c a .busi ne ssc hief. com

107

Digitising banking in Malawi’s financial sector 108

WRIT TEN BY

SEAN GALEA-PACE PRODUCED BY

JUSTIN BRAND

NOVEMBER 2018

TECHNOLOGY

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ECOBANK

Lusungu Mkandawire, Country Head of Information Security at Ecobank Transnational, discusses the impact new technology is having on banks in the age of digital transformation

A

s the first bank in Malawi to launch a mobile app, Ecobank is beginning to embrace technology in a bid to stay ahead of its

rivals. With 80% of the population in Malawi unbanked, 110

Ecobank remains determined to lead its competitors and set the trends in the industry. Lusungu Mkandawire, Country Head of Information Security, believes it’s vital that Ecobank continues to innovate and remains the first institution in the field to implement new software and react to change.

With innovation firmly in mind, Ecobank became the first bank in Malawi to launch a mobile app called ‘Ecobank Mobile Banking App’. The service is accessible on Android and iOS operating systems and is immediately available for download.

“We were the first bank to connect mobile wallets before every other bank in the country,” says Mkandawire. “We are also the first bank to have an Unstructured Supplementary Service Data (USSD) application that will support wallet to bank transaction. Our main strategy is to become more digital.

NOVEMBER 2018

TECHNOLOGY

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ECOBANK

“ We’ve successfully developed products that pose a real benefit to our customers, clients and other businesses”

With most of the other local banks still only brick and mortar, it’s really important for us to fully embrace digital technology.”

The USSD is a global system for mobile communication technology that is used to send messages between a mobile phone and an application programme in the network.

Mkandawire affirms that through utilising such software, the app provides Ecobank’s customers with greater freedom for their transactions. “Ecobank Malawi is integrated with all the mobile money providers in

112

— Lusungu Mkandawire Country Head of Information Security, Ecobank Transnational

Malawi,” says Mkandawire. “This enables our customers to seamlessly do transactions without time restrictions. Every bank in Malawi has a mobile banking strategy and is integrating with those who have their own mobile banking products.”

With mobile banking providing a wide range of different functions, Mkandawire points out how customers can significantly benefit from operating the app.

TECHNOLOGY

CLICK TO WATCH : ‘ECOBANK MOBILE APP BENEFITS: GENERAL ’ 113 “Customers want self service where

has meant that banks which delay their

they are able to check their balance

digital transformation strategies are

from home or pay bills from anywhere

trailing behind. Banks can develop their

on the planet. Customers want an

products at a reduced cost through

omnichannel service and this means

utilising their product development and

connecting all these touch points to

IT operations, or DevOps. Mkandawire

create a seamless, consistent and

is well aware of just how important it is

pleasant experience. This lets custom-

to keep up with the latest trends.

ers move from one touch point to

“Speed and innovation are critical

another without feeling a disruption

success factors in today’s digital world.

or disconnection.”

Being able to innovate quickly and cheaply, test digital products and

IMPORTANCE OF INNOVATION

services in the market, refine them and

With companies launching new products

release them on a regular basis has

at a quicker rate than ever before, it

become a competitive advantage,” a fri c a .busi ne ssc hief. com

ECOBANK

114

$1.8bn Approximate revenue in 2017

1985 Year founded

36

Countries of operation

explains Mkandawire. “Ecobank has invested a lot in research and innovation to make sure that we are at par or better in the global banking sector as a whole.”

Having joined Ecobank in May 2018 to take control of Information Security, Mkandawire has previously worked as the Information Security Manager at Airtel Africa and as an IT Audit Supervisor at KPMG. Such experience in technology and security has allowed Mkandawire to build up significant knowledge in the field.

“I definitely combined IT and accounting in my previous roles. I feel it’s given me a good understanding of the

NOVEMBER 2018

TECHNOLOGY

requirements of both positions, espe-

I believe we have a good setup for

cially during my time as an IT auditor.”

cybersecurity but you can never be 100% secure. You have to continuously

REMAINING SECURE IN THE DIGITAL SPACE

improve. Facebook was recently

While digital transformation has seen

is completely safe, especially in

companies experience tremendous

a banking environment like Ecobank.”

hacked so you can never say anything

growth, it has also caused the issue of

Previously, Ecobank utilized the ISO/

cybersecurity to become increasingly

IEC 27001 system which the company

prevalent. Although Mkandawire

adopted across all their fields. Now,

believes Ecobank is dealing with the

the company is embracing a wide range

issue in the right way, he maintains

of different projects to ensure that it

companies can never be too careful

keeps cybercrime at a minimum. “In

when it comes to security.

terms of cybersecurity, we have so

“I think Ecobank is handling it well.

many projects that are happening,”

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

Lusungu Mkandawire Lusungu Mkandawire is a perceptive, result-driven IT professional with illustrious success directing a broad range of corporate IT initiatives while participating in planning, evaluating, analyzing and implementing solutions in support of business objectives.

Lusungu excels at providing comprehensive secure network design, system analysis and full lifecycle project management.

a fri c a .busi ne ssc hief. com

115

ECOBANK

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TECHNOLOGY

that Ecobank keeps up with the latest trends by ensuring its security functions operate at full capability. “We have recently upgraded our main firewall systems and have the latest checkpoint software. It’s so important to us that we’re as secure as possible.”

FORMING KEY PARTNERSHIPS Since it was first established in 1985, Ecobank has gone from operating solely in West Africa to holding offices in 36 countries across the continent.

“ I believe we have says Mkandawire. “We have internal a good setup for information security awareness trainings cybersecurity but campaigns and also have partners that you can never be help us too, such as McAfee who help us with advanced SIEM systems that 100% secure. You monitors security threats and guide us have to continuon how to prevent, detect and recover from attacks. Most of our security ously improve” standards and frameworks have been adopted by Microsoft, IBM and McAfee so we have lots of support.”

With digital enhancements being implemented on an ever-changing basis, Mkandawire considers it vital

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117

ECOBANK

In order to achieve and sustain that success, it has become increasingly important for companies to form key partnerships to accelerate their development. Ecobank has collaborated with Business Computers Services Malawi to provide them with IT servers and Mkandawire believes these strategic partnerships are vital

“ Speed and inno critical success today’s digital w — Lusungu Mkandawire Country Head of Information Security, Ecobank Transnational

to continued success.

“We’ve successfully developed products that pose a real benefit to our 118

customers, clients and other business-

growth, this also applies to our business

es,” explains Mkandawire. “Strategic

strategic partners. By entering into

partnerships fuel your business growth

mutually beneficial partnerships, we

which is why Ecobank works proac-

have the opportunity to spur digital

tively to create and sustain them. Each

transformation at a level we couldn’t

partner takes a proactive interest in the

achieve on our own, differentiating

others company and we work together

ourselves through innovative products

to bring about our shared success.”

and business models that drive our

With the meteoric rise of financial technology in the banking sector in Africa, it is clear that the region’s future is heavily focused on technologybased products. As far as Ecobank and Mkandawire are concerned, the challenge is ensuring that the company embraces digital transformation head on.

“We want to ensure the investment improves our bottom line and profitable NOVEMBER 2018

competitive edge.”

TECHNOLOGY

ovation are s factors in world�

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An sup 120

powe in

S U P P LY C H A I N

ethical pply chain werhouse Africa WRIT TEN BY

L AUR A MULL AN PRODUCED BY

S TUART IRVING

121

COTTON ON GROUP

One of Australia’s largest retailers, Cotton On Group, is making waves in the African fashion industry with its lean, ethical supply chain

I

122

n 1988, 18-year-old Nigel

With over 15 years in the supply

Austin sold his first acid

chain field, Phil Marais, Head of

washed denim jacket in

Africa and Brazil Supply Chain at

Geelong, Australia. It would be this

Cotton On Group, has been the

sale that would sow the seed for

ideal candidate to make this vision

fashion powerhouse Cotton On

a reality. He points out how Cotton

Group which, within 25 short years,

On Group has hired people with

has grown to become Australia’s

boots on the ground so that the

largest global value fashion retailer,

retailer can gain a true understand-

with seven brands, over 1,400 stores,

ing of these regional markets and

and a footprint spanning 17 countries.

their supply chain ecosystems.

From Australia to the UAE, Brazil

“For our regional markets, like South

to Singapore, Cotton On Group has

Africa, for example, the value of our

mushroomed in size over this short

assets and individuals is critical,” he

timeline, but one continent has clearly

explains. “It helps provide context to

been pivotal to its success – Africa.

our team members so that we can

Home to seven of the fastest growing

execute the supply chain in that

countries in the world, Africa has

market, whether it’s in South Africa

quickly emerged as a force to be

or Sao Paolo, to the best of our ability

reckoned with in the fashion industry.

with that local knowledge. Aligning

Recognising this, Cotton On Group

with the group framework whilst

has kept a keen eye on the fast-

adding that local twist is really

emerging scene, opening almost 170

important. Emerging markets like

stores in South Africa, six in Namibia,

Africa and Brazil present huge

with additional sites in the pipeline.

growth opportunities for the group.”

NOVEMBER 2018

S U P P LY C H A I N

“ In today’s social media dominated world, we know that we’ve got to have influencers in our corner.We have to tap into what we think is going to be fashion forward and value-based” — Phil Marais, Head of Africa and Brazil Supply Chain at Cotton On Group

123

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

Phil Marais On the journey to currently being the Head of Africa and Brazil Supply Chain, Phil has had experience at multinational apparel and furniture entities. These opportunities have been based in both Johannesburg and Singapore, overseeing multi-channel operations both locally, Sao Paulo and in South East Asia for Cotton On. Having a strong people focussed approach in South Africa has benefited in adapting to relationship building, internationally, across language and cultural barriers.

a fri c a .busi ne ssc hief. com

COTTON ON GROUP

“ Aligning with the group framework whilst adding that local twist is really important” — Phil Marais, Head of Africa and Brazil Supply Chain at Cotton On Group

Today‘s solutions for tomorrow‘s challenges The EKS 110, 210 and 312 With customers demanding ever increasing speed and flexibility when it comes to the delivery of their goods, the challenges faced during order picking are also on the rise. To manage the growing diversity of products and satisfy the needs of customers, you require powerful, versatile and future-proof solutions.

We can offer you such solutions in the form of our EKS range of Jungheinrich vertical order pickers. Be it in wide or narrow aisles, from the first rack level or for order picking heights of up to 13 metres – we have the right solution for your application.

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S U P P LY C H A I N

125 The fashion industry is notoriously

chain team but it’s one which Marais

fast-paced, with new trends flying past

believes the company is more than

today’s window displays in the blink of

prepared to meet.

an eye. “In today’s social media dominat-

“In our industry, speed is key,” he

ed world, we know that we’ve got to

observes, “We need to have the stock

have influencers in our corner. We have

delivered at the right time and it needs

to tap into what we think is going to

to be accurate so that when a custom-

be fashion forward and value-based.

er walks through our doors they have

It’s an exciting part of the business,”

a positive experience. We’re a fast

Marais says. Priding itself on this

fashion business that relies on speedy

fashion-forward, value-based approach,

replenishment of stock. Therefore,

Cotton On Group aims to be one step

if you’re doing anything that’s making

ahead of its peers, meaning time is of

you slower, you’re doing it wrong. This

the essence. This has undoubtedly

means if a t-shirt sells out in store and

created a key challenge for its supply

a customer returns tomorrow, the stock a fri c a .busi ne ssc hief. com

COTTON ON GROUP

needs to be available so that they won’t have to wade through a pile of sizes or visit other stores to find their size.”

With a few clicks of a button, the rise of e-commerce has also helped strengthen the need for swift delivery but it has also added a new dimension for supply chain professionals to tackle. In January, Cotton On Group launched its online store platform and loyalty card for its South African operations. This has upped the company’s sales and 126

the volume of products that need to be delivered.

“What was good yesterday, is average today and probably won’t be good enough tomorrow,” reflects Marais. “Therefore, we need to be agile and adapt our model so that consumers can buy what they want, how and when they want to. Even in mature markets, we’ve been quite a big player in the e-commerce market.

Now, we’ve launched our online operation in South Africa, we’ve seen a really nice uptake in volume through this channel of the business. We’ve also started a new wholesale channel with an online marketplace that stocks NOVEMBER 2018

S U P P LY C H A I N

CLICK TO WATCH : ‘THE COTTON ON GROUP: WHO WE ARE’ 127 our brands which provides another channel for us to be able to offer our product.”

Relying primarily on word of mouth, rather than advertising and delivering a positive customer experience, is the bread and butter of Cotton On Group’s success. As a result, getting thorough feedback has been critical “We’re engaging with our team and finding out what customers are saying through online feedback,” Marais says. “We’re learning from this feedback and I think that speaks to the company’s entrepreneurial spirit. We’ve got very inspirational leaders who really help drive us to be quicker and faster in unique ways.” a fri c a .busi ne ssc hief. com

COTTON ON GROUP

Drawing from its experience in the Australian market, Cotton On Group has replicated its e-commerce and supply chain solutions for the past several years in different markets. This has meant it could be smoothly adopted in regional markets in Africa. Marais points out how the company’s South African distribution centres are efficient and lean to make orders easier to tackle.

“Our distribution centres are set up to complete our online orders internally which made the execution of online a lot easier to manage,” Marais notes.

128

“We’ve also got an online platform that has been tested in Australia but which has been adapted to our local

1,400 + stores

7

countries

market. This has meant that we have been able to quickly deliver that customer experience that people have come to expect from Cotton On. “It’s supply chain 101: if you add complexity it slows down the operation,” he adds.

“So, we’ve managed to keep our business relatively simple. It allows us to be agile when adapting our strategy to meet the

20,000 + employees

NOVEMBER 2018

demands of e-commerce, for example.”

With plans to expand to Botswana over the coming months, it’s no question that Cotton On group has fine-tuned its strategy

S U P P LY C H A I N

“ It’s supply chain 101: if you add complexity it slows down the operation” — Phil Marais, Head of Africa and Brazil Supply Chain at Cotton On Group

for success. Yet Marais is keen to point out that this wouldn’t be possible without a team that was entrepreneurial, curious and up for a challenge.

“I have experience in various warehouses in South Africa, but when I started my own journey at Cotton On I quickly realised that if you’re passionate about supply chain and want to grow your career, then the place to do that is Cotton On,” Marais says proudly.

“You can see an entrepreneurial spirit in our business every day. We’re led by people who expect us to take ownership of our function and execute it to the best of our ability.

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129

COTTON ON GROUP

It’s also about having fun, engaging with your team and really connecting with them.”

Not only does the company foster the talents of its own people, but it’s also helping to enrich the lives of local communities across the globe. Today, cotton is one of the most commonly used natural fibres in the world with more than 25mn tonnes produced every year.

As a business, Cotton On Group has set itself an ambitious goal to have 130

100% sustainable cotton throughout its supply chain by 2021. To achieve this it has developed a unique partnership with the Better Cotton Initiative and has launched its very first sustainable cotton program in Kwale County, Kenya, known as Kwale Cotton. Through the program, Cotton On Group works closely with farmers in Kwale to help them transition from subsistence farming to more sustainable cotton farming practices. In addition to funding the training and setup of each farm, the Group is committed to purchasing 100% of the cotton lint, NOVEMBER 2018

S U P P LY C H A I N

131

“ It’s also about having fun, engaging with your team and really connecting with them” — Phil Marais, Head of Africa and Brazil Supply Chain at Cotton On Group

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COTTON ON GROUP

132

“ In our industry, speed is key” — Phil Marais, Head of Africa and Brazil Supply Chain at Cotton On Group

NOVEMBER 2018

S U P P LY C H A I N

133 which is of a premium grade. Since

Marais concludes. “To know that by

the project began in 2014, over 1,500

following your career aspiration at

farmers involved, with many of those

Cotton On, by enabling our customers

doubling their income since coming

to have a really great shopping

on board.

experience, kids will hopefully get to

Additionally, thanks to the group’s philanthropic arm - the Cotton On

go to school, learn new skills and feel empowered – is an amazing feeling.”

Foundation - the retailer is also helping to empower people through health, education sustainability and infrastructure.

“We are opening schools in Uganda, Australia, Thailand, and South Africa, and have set ourselves a goal of creating 20 000 educational places by 2020” a fri c a .busi ne ssc hief. com