African Leadership Magazine October 2024 Special Edition

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FROM THE PUBLISHER’S Desk

Dr. Ken Giami

Founder, African Leadership Magazine UK

It’s Africa’s Time: A Journey of Progress and Promise

I woke up this morning reflecting upon and nodding to the rhythm of Shakira’s FIFA 2010 World Cup (TM) song, ‘This Time for Africa,’ and was filled with awe at how much progress Africa and Africans have made globally. As I thought about Africa’s journey from the days when a major international publication referred to her as the ‘hopeless continent’, I couldn’t agree more that this was Africa’s century, Africa’s time!

The African continent brims with potential and progress. Often called the cradle of humanity, Africa is emerging as a beacon of innovation, resilience, and growth. The hope for humanity’s food security and the future of tomorrow’s global workforce lies in today’s youthful Africa. Little wonder there is an ongoing rush to engage the continent -both from the good, bad and ugly. This is truly Africa’s time, and the world is taking notice.

This refreshing narrative can be seen in many ways; however, I shall focus on only the following areas:

A Rebound in Economic Growth

Africa’s economic landscape is transforming at an unprecedented pace. According to the African

Economic Outlook, the rebound in Africa’s average growth includes a rise to 3.7% in 2024 and 4.3% in 2025, exceeding the projected global average of 3.2%. Of this figure, 17 African economies are projected to grow by more than 5 percent in 2024. This story has been consistent, with Africa accounting for 6 of the 10 fastest-growing economies over most of the last 15 years.

“Africa is no longer the sleeping giant. It is awake, and it is on the move,” said Akinwumi Adesina, President of the African Development Bank. His words resonate with the palpable energy and ambition that permeate the continent.

Technological Innovation and Entrepreneurship

Africa is also becoming a hub for technological innovation. The rise of tech hubs in cities like Nairobi, Lagos, and Cape Town has earned Africa the moniker “Silicon Savannah.” In 2020, African tech startups raised over $1.4 billion in funding and almost $800 million in the first half of 2024 alone, a testament to the continent’s burgeoning tech ecosystem.

One inspiring story is that of Flutterwave, a Nigerian fintech

company that has revolutionized online payments across Africa. Founded in 2016, Flutterwave has facilitated over 140 million transactions worth over $9 billion. Its success story is a beacon of hope for aspiring African entrepreneurs.

Education and Empowerment

Education is the cornerstone of Africa’s progress. The continent has seen a significant increase in school enrollment rates, with UNESCO reporting that primary school enrollment in Sub-Saharan Africa reached 80% in 2018 and is growing year on year. Moreover, initiatives like the African Union’s Agenda 2063 aim to transform Africa into a global powerhouse through education and skill development.

Dr. Ngozi Okonjo-Iweala, the first African and first woman to lead the World Trade Organization, and that of Dr Tedros Gebreyesus of the World Health Organization exemplify the power of education and empowerment as Africans continue to occupy strategic positions globally and contribute to solving some of humanity’s biggest challenges. Their successes, and especially those of the African diaspora, are a testament to the boundless potential

that education unlocks. This is without prejudice to the extraordinary work still required in the education sector across the continent.

Cultural Renaissance

Africa’s cultural influence is also making waves globally. The continent’s rich heritage, music, art, and fashion captivate audiences worldwide, driving Africa’s global soft power. The global success of artists like Burna Boy and Wizkid, who have brought Afrobeat to the international stage, highlights Africa’s cultural renaissance.

In the words of Nelson Mandela, “The cultural heritage of Africa is the most precious treasure we have.” This treasure is now being shared with the world, enriching global culture and fostering a deeper appreciation for Africa’s diverse traditions. It is Africa’s time and African rhythms are danced to in malls, and stadiums from India to Brazil and worldwide.

In the Climate space, Africa’s forests may be humanity’s hope in addressing global environmental challenges. Wangari Maathai, the first African woman to win the Nobel Peace Prize, once said, “It’s the little things citizens do. That’s what will make the difference. My little thing is planting trees.” Her legacy lives on through the millions of trees planted across Africa, symbolizing hope and resilience.

The continent is rising, driven by the indomitable spirit of its people, the richness of its culture, and the promise of its future. As Africa continues to make strides in economic growth, technological innovation, education, cultural influence, and environmental stewardship, it is clear that the world must pay attention.

In the words of Kwame Nkrumah, “We face neither East nor West; we face forward.” Africa is moving forward, and its journey is one of inspiration, progress, and boundless potential. This is Africa’s time, and the world is watching in awe.

Africa’s economic landscape is transforming at an unprecedented pace. According to the African Economic Outlook, the rebound in Africa’s average growth includes a rise to 3.7% in 2024 and 4.3% in 2025, exceeding the projected global average of 3.2%. President of the African Development Bank, Dr Akinwumi Adesina; Deputy President of South Africa HE David

Mabuza; and Dr Ken Giami, Chairman of African Leadership UK at an ALM event in Johannesburg

From Sampou to Global Influence: An In-Depth Look at Governor Douye Diri’s Bayelsa Administration

28

Debt, Tariffs, and Green Energy: The Hidden Forces Reshaping ZESCO 36

Global Shocks, Local Strategy: Inside OmniBSIC’s Bold Moves with Daniel Asiedu 44

Inside the Leadership Labyrinth: What OmniBSIC’s Management Reveals About Daniel Asiedu’s Masterplan

A Vision for Reform: Reflections from Senator Katung and Great Lawmakers

10 Powerful Takeaways from Bill Gates’s Recent Visit to

Every relationship is complex. Like a story, it has chapters. The African-Caribbean relationship is no exception.

TIES RUN DEEP: Reenergizing the African-Caribbean connection through trade

Pamela-Coke Hamilton, Executive Director, International Trade Center

When I was back in my home region this summer for the third AfriCaribbean Trade and Investment Forum in Nassau, the Bahamas, that shared history was all around. It was visible and palpable: The Junkanoo, the music, the vibrancy, the art. It just comes alive.

That shared history, as we know, is rooted in a painful past. The transatlantic slave trade tore families apart and cost countless lives. We’re still dealing with the effects of that chapter of history, across generations, to this day.

What’s important here is to recognize that as one part of the story, and to see the collective opportunity we have to turn the page, so to speak. We can see a new story emerging, a story of resilience, of creativity, a story of global Africa where the depth and breadth of its diaspora is on full display.

The next chapter is being written, and it’s full of hope.

Even in the face of multiple crises affecting both regions, such as natural disasters fuelled by climate change (like Hurricane Beryl), supply chain disruptions, food insecurity and cost-of-living challenges, there is a way forward.

Trade is part of that solution. Not trade as the way we’ve known it, but a new type of mutually beneficial trade, one that pivots from commodity extraction to value addition and enhances cooperation between the two regions, to transform the trade and investment landscape.

Targeting exports with top potential

Trade between Africa and the Caribbean could rise to $1.8 billion per year by 2028 – that is, if value addition, trade facilitation and improved logistics are prioritized. That’s according to our latest research at the International Trade Centre, conducted with the African Export-Import Bank (Afreximbank).

We found that the travel and transport sectors offered the greatest potential contribution to that growth, making up two-thirds of the potential services trade between the two regions.

These latest findings also show that in the goods segment, the three most important sectors are minerals and metals; wood, paper, rubber and plastics; and processed food and animal feed. Looking at the creative industries, which as a sector is gaining steam in the region and across the world, we see that the highest unrealized potential in both regions include design products and art crafts. For example, design products

Trade between Africa and the Caribbean could rise to $1.8 billion per year by 2028 – that is, if value addition, trade facilitation and improved logistics are prioritized

Looking at the creative industries, which as a sector is gaining steam in the region and across the world, we see that the highest unrealized potential in both regions include design products and art crafts

make up nearly three-quarters of Africa’s unrealized export potential in the creative industries to the Caribbean, and jewellery made of precious metals is the creative product with the highest unrealized export potential in both regions.

These sectors are more than just areas with potential – they’re areas that speak to each region’s histories, cultures and socioeconomic priorities.

The possibilities are endless. We just have a lot of work to do to unleash it.

Tackling trade challenges

In the past decade, the share of African exports that goes to the Caribbean has been decreasing, not increasing. Today, less than 0.1% of African exports go to the Caribbean, and less than 3% of Caribbean exports go to the African continent.

Where trade is happening between the two regions, it is highly concentrated in a few key products. For example, more than half of Africa’s exports to the Caribbean are mineral primary products, with crude oil being the leading export. As for Caribbean exports to Africa, a fertilizer produced in Trinidad and Tobago – called anhydrous ammonia –makes up nearly half of all exports to Africa.

To increase and diversify trade between the two regions, we have to get rid of trade frictions and get investments into the right sectors. There are two key issues to tackle: Weak logistics and high tariffs.

Too often, poor logistics infrastructure gets in the way of greater trade both within Africa and the Caribbean and between them.

Both regions score the lowest on the World Bank’s Logistics Perfor¬mance Index, and unless we invest more into chang¬ing that, then even our best efforts at spurring greater interregional trade and investment will be for nought.

On the issue of tariffs, bilateral tariffs tend to be higher than those charged to exporters from other trading partners. Tariffs also increase with the level of processing, which discourages transformation of products into valueadded goods for export.

Lowering tariffs can benefit both regions by providing greater variety to consumers at a lower cost and allows the regions to specialize in sectors they are competitive in. Incentivizing value addition will not only result in better products and services both ways, but support higher incomes, quality jobs and socioeconomic stability for families and communities.

That’s why so many of our projects in Africa and the Caribbean – whether it’s our new project to support greater food security in the Caribbean or our longstanding projects to develop value chains in East and West Africa – are designed with these goals in mind.

That’s why we have a dedicated programme called One Trade Africa to ensure that small businesses, especially those led by women and young people, can take full part in one of the most transformational trade agreements to be negotiated in a generation, the African Continental Free Trade Area.

Although established by an African agreement, the African Continental Free Trade Area offers an opening to reduce market access barriers that challenge Caribbean firms, and its Investment Protocol will help to facilitate access by Caribbean investors into a broader African market.

Looking at the big picture

Trade agreements are a tried-andtested solution that could be deployed to systematically address pain points, lower trade costs between the two regions and create new opportunities for growth.

In fact, the possibility of an AfricaCaribbean Free Trade Agreement is currently being discussed in policy circles.

To build an evidence base to consider any future rounds of negotiation, we will soon work with Afreximbank to analyse how different tariff liberalization and nontariff measures harmonization scenarios may increase trade at the country and product levels. This will reveal sectors and countries that can benefit the most and point to possible trade diversion effects.

It’s worth noting that the lower the trade volumes we have, the less likely we are to see investments in transport and logistics infrastructure. So, by boosting African-Caribbean trade through a trade agreement or other means, we can tackle other key issues.

Even as an optimist, I know that change won’t be easy or fast. But I do know

that it is always better to cooperate and collaborate, rather than to compete or go at it alone.

I’m encouraged when I reflect upon the nascent pan-African movement led by Dr. Kwame Nkrumah, Jomo Kenyatta, Mwalimu Julius Nyerere, Kenneth Kaunda, and others. These pioneers initiated a wave of decolonization and independence across not just Africa, but the entire diaspora in the 1950s to 1960s.

Their actions changed the map of the world forever.

In a not-so-different way, we have an opportunity to usher in fundamental change that will benefit generations to come, creating a more economically vibrant, sustainable and connected world for our children’s children. We have the opportunity – right now – to write a new chapter in our shared history. All we have to do is take it.

To build an evidence base to consider any future rounds of negotiation, we will soon work with Afreximbank to analyse how different tariff liberalization and non-tariff measures harmonization scenarios may increase trade at the country and product levels

HE SENATOR DOUYE DIRI

Governor of Bayelsa State, Nigeria

BAYELSA STATE: Unlocking Trade and Investment Opportunities Through Strategic Vision

Bayelsa State, rich in natural resources and marked by political challenges, is at a critical juncture in its history. At the helm is H.E. Senator Douye Diri, Executive Governor, who is steering the state through economic hurdles, infrastructure gaps, and high political expectations. His administration is pursuing ambitious projects, including the development of vital road networks and unlocking the potential of the state’s maritime sector. Yet, beyond these accomplishments, deeper questions remain: What motivates the man behind these initiatives? And how does he plan to maintain progress in a state that has experienced many setbacks?

In this exclusive interview, Governor Diri sheds light on the strategic vision driving Bayelsa’s transformation. He discusses the challenges of leading in a politically charged environment, shares insights into his innovative policies, and highlights the hurdles that still lie ahead. With ongoing infrastructure projects and a focus on economic diversification, this conversation explores the careful decisions shaping Bayelsa’s future and leaves readers eager to see what lies ahead under his leadership.

Excerpts

You have significantly advanced peace and security in Bayelsa, now recognized as one of Nigeria’s most peaceful states. What key strategies have contributed to fostering this stable atmosphere?

A lot of people thought that after the elections were rigged in 2019, and when the Supreme Court gave us victory, we would become vindictive. Instead of embracing vindictiveness, we preached love. We didn’t come with hatred or revenge. Rather, we embraced everyone, including our opponents.

Today, we work seamlessly together—oour opponents are even nominating members of my cabinet.

I believe love is the key. Love overcomes hatred, and that’s what we showed. Not only did we preach love and unity, we also demonstrated it. That is why Bayelsa is now one of the most peaceful states in Nigeria.

In addition, we listened to the people. We implemented programs, policies, and developmental projects based on their needs and wants. I believe this has also contributed significantly to the peaceful atmosphere we now enjoy.

Your administration has placed a strong emphasis on infrastructure development, particularly the completion and ongoing work on some big-ticket projects such as the Yenagoa-Oporoma Road, the Yenagoa Ring Road, Nembe-Brass, Glory Drive, and the Sagbama-Ekeremor Road. What long-term impacts do you foresee for Bayelsa’s economy as a result of these projects?

Well, some of the projects you mentioned are not all completed yet. For instance, phase two of the Glory Drive has been completed, and we have started phase three. We have completed the Yenagoa-Oporoma road up to Angiama, and we are now on the main bridge crossing the River Nun to the other side of Oporoma up to another community, Otuan. So that project is still ongoing.

Yes, we have completed the road from Sabama to Ekeremor, and we are opening up the state by roads to the rural communities. We are not only focussing on urban renewal

such as constructing roads in the state capital, Yenagoa, and leaving out other areas.

We are also working on a development plan for the state, both short-term and long-term, so that by the time we leave office, my successors will work with those plans and make amendments when necessary.

On the other hand, our roads to the hinterland, such as Oporoma, Brass, and others, are under construction. The road to Brass leads to the Atlantic Ocean. As I always say, to diversify and move away from oil and gas, we need to focus on the maritime domain of Bayelsa, where our real riches lie. However, we cannot access places like Brass or Aggee, both by the Atlantic Ocean, without these roads. The same goes for the road to Oporoma.

We believe that these roads will open up Bayelsa and its maritime activities, enabling the blue economy to fully develop. By providing road access as well as access via waterways, we aim to boost the state’s economic development significantly. With improved road and waterway access, Bayelsa’s economy will experience significant growth and development.

Your Prosperity Administration has placed emphasis on education, healthcare, and agriculture. Could you explain how policies in these sectors are transforming the lives of Bayelsans?

When we came in, we reviewed the educational policies and initiated a paradigm shift. We recognised that the current state of education in our state, and indeed in Nigeria, with its emphasis on paper qualifications, was leading to unemployment and producing graduates who could not find work. So, we decided to shift the focus from this white-collar job-seeking education to science, technical, and

vocational education. This is why we decided to build science and technical colleges across all local government areas in the state. As we speak, we have succeeded in establishing such schools in five local government areas. These schools have been fully built and equipped. There was an existing one in one of the local government areas, and another is about 70% completed. Only two local government areas are left, and by next year, we aim to cover them as well.

We are focussing on technical and science education to equip students not just to be self-employed but to become employers of labour themselves. As you’re aware, the world is moving away from white-collar jobs towards fields like AI, and we believe this is the right direction to take. You can’t expect immediate results, but the schools I mentioned are already operational, and we are providing free tuition, accommodation, and feeding to attract students. We are educating the public on the benefits of these new schools, and the government is also providing free school uniforms. Essentially, attending these schools costs nothing.

In agriculture and aquaculture, we are yet to fully actualise our policies. In my first term, we attempted to collaborate with a group from Greece, but, unfortunately, that fell through. Now, in this second term, we have brought in many professionals, including a commissioner who is a professor of agriculture. We are aiming for an agricultural revolution in our state, particularly in rice production. I want Bayelsa to become a major rice producer. We also have a comparative advantage in cassava production, and the factory installed by the previous government is now functional, with the private sector running it and collaborating with the state government.

We also aim to establish a strong aquaculture industry, collaborating with the private sector to bring in equipment

We are focussing on technical and science education to equip students not just to be self-employed but to become employers of labour themselves. As you’re aware, the world is moving away from white-collar jobs towards fields like AI, and we believe this is the right direction to take. You can’t expect immediate results, but the schools I mentioned are already operational, and we are providing free tuition, accommodation, and feeding to attract students

Our goal is to engage our youths in the maritime sector. We need to train them in seafaring, fishing, and other maritime businesses. There is so much untapped wealth in this industry, and we don’t need to rely solely on oil. The maritime industry offers an alternative path for economic growth, and by investing in it, we can secure a prosperous future for Bayelsa without being overly dependent on oil

and establish fish farms across Bayelsa. The goal is to have an agricultural revolution in the state, which is why we coined the acronym A.S.S.U.R.E.D. Prosperity, starting with agricultural revolution.

In healthcare, we inherited the Bayelsa Health Insurance Scheme from the previous government, which was initially limited to civil servants. We saw the value in this policy and decided to expand it to include all Bayelsans, including private sector employees and companies. We also created an institutional framework by building the Bayelsa Health Insurance Complex, giving people a physical location to access services. Additionally, we signed an agreement with Zipline for medical supply deliveries to remote areas, which has been highly successful. We are also renovating and completing various health centres to improve healthcare delivery across the state.

Bayelsa has recently been noted for its efforts in fighting epidemics, and we are pursuing this with great vigour to prevent the spread of infectious diseases. So far, we have not recorded any major outbreaks.

Recently, you created the Ministry of Marine and Blue Economy to leverage the state’s maritime resources. What are your goals for this sector, and how do you envision it shaping Bayelsa’s future beyond oil?

We are richly endowed with maritime resources, yet we have often overlooked the full potential of this wealth. I must give credit to President Bola Tinubu for creating the Federal Ministry of Blue Economy, which further motivated me. However, this had always been a priority for me. From my first term in office, I had consistently said that beyond oil and gas, our true riches lie in our maritime domain. To diversify, we must focus on this sector, and that is why I created the ministry. I believe we are the first state to establish such a ministry in the country.

Our goal is to engage our youths in the maritime sector. We need to train them in seafaring, fishing, and other maritime businesses. There is so much untapped wealth in this industry, and we don’t need to rely solely on oil. The maritime industry offers an alternative path for economic growth, and by investing in it, we can secure a prosperous future for Bayelsa without being overly dependent on oil.

Bayelsa State is renowned for its rich cultural heritage. How does tourism fit into your broader economic vision, and what plans are in place to promote the state as a leading destination?

Bayelsa is blessed with numerous tourist sites that are yet to be developed. However, we may not have all the resources required to develop these sites on our own. Therefore, I am calling for collaborations, particularly

L-R: Deputy Governor Lawrence Ewhrudjakpo, Chief Judge of Bayelsa State, Justice Matilda Ayemieye, Governor Douye Diri during the second term inauguration

For tourism to thrive, we need significant private sector involvement. This sector can play a crucial role in developing and promoting our tourist attractions, ensuring that Bayelsa becomes a leading destination

with the private sector. Many people expect the government alone to drive these developments, but some of them actually require private sector involvement. The private sector can either partner with the government or undertake projects independently. We have created a peaceful environment and provided the necessary support for private sector investment.

For tourism to thrive, we need significant private sector involvement. This sector can play a crucial role in developing and promoting our tourist attractions, ensuring that Bayelsa becomes a leading destination.

Your administration’s commitment to completing projects inherited from past governments has earned you recognition for fostering continuity. How do you balance honouring past legacies while introducing your own innovative initiatives?

I believe that abandoning projects initiated by previous administrations equates to abandoning state resources. These projects are not private ventures; they are state assets worth billions. For example, if we had abandoned a road project, significant resources would have gone to waste, and our people would not benefit from improved infrastructure. We complete such projects to ensure our resources are not squandered.

At the same time, we are introducing our own initiatives. We have built a new media complex that houses our radio and television stations and the newspaper corporation, all equipped with state-of-the-art technology. Additionally, we have launched new projects like the Glory Drive, which is a new development rather than a continuation of previous work. Our focus is on both completing inherited projects and introducing new ones to enhance the economic and aesthetic value of our state capital.

You asked about the tourism sector and the various challenges that come with it, including the Tower Hotel, which unfortunately has been stuck in a situation that is not ideal. Unfortunately, there are many encumbrances that hinder progress, not just the hotel’s current situation. I decided that instead of waiting, we should seek private investors to take over the hotel and work with the government to establish a partnership. Even if it means a moratorium for 10 years or more, we’re willing to sign an agreement to make it happen.

There are many stories and issues like this. For instance, the Golden Tulip Hotel, which has been in operation but the government hasn’t been generating any revenue from it. In my opinion, governments are not effective in running businesses. They should focus on creating an environment that fosters

Vice President Kashim Shettima (left) and Governor Douye Diri during the second term inauguration

business growth and provides security for entrepreneurs to thrive.

Your administration has been actively addressing environmental challenges, from illegal logging to oil bunkering. What are the next steps in ensuring environmental sustainability, particularly in the Niger Delta region?

When I took office, we focused on creating a unified security body for the state. Previously, various security agencies operated separately. Now, they are coordinated under one umbrella through the Community Safety Corps, which has significantly improved local security. Bayelsa holds very frequent Security Council meetings, allowing us to be proactive in crime prevention and addressing issues such as illegal logging and oil bunkering.

For environmental sustainability, we are enhancing our efforts to combat these challenges by improving security measures, increasing surveillance, and enforcing stricter regulations. We are also working on initiatives to engage local communities in environmental protection and ensure that they are actively involved in preserving our natural resources.

What are the next steps in environmental sustainability?

Our next steps include addressing environmental sustainability through both engagement and enforcement. We are actively communicating with our people about the detrimental effects of illegal oil refineries and oil bunkering, which are contributing to environmental degradation. While the military and security agencies are employing kinetic measures, we are focussing on

engaging the youth to discourage their involvement in these illegal activities.

To enhance our efforts, I have appointed a retired Director of the Department of State Services (DSS) from our state as my Honorary Special Adviser on Security. This individual is working alongside the security coordinator and local council chairmen to tackle environmental pollution caused by oil bunkering and illegal refining.

Additionally, we have received the initial report of an Environmental Commission established by my predecessor. Although we have sought dialogue with the oil companies involved, progress has been slow. Consequently, we are considering legal action to ensure that our environment is cleaned up and restored. Our goal is to remediate the polluted environment, revitalise our flora and fauna, and implement strategies to prevent future pollution.

We are also engaging with international bodies. For example, I recently met with the SecretaryGeneral of the Commonwealth in London to highlight the need for multinational companies to address their environmental liabilities. These engagements aim to put pressure on both international corporations and governments to support our efforts in environmental restoration and sustainability.

Your leadership has been marked by a message of unity and peace. How do you maintain this spirit of inclusiveness in governance? And what lessons have you learnt that could be applied to other conflict-prone regions in Nigeria?

In Bayelsa, we prioritised inclusiveness by forming an all-

encompassing government. For the first time, we included major opposition party members in the state executive council as commissioners, putting Bayelsa’s interests above political affiliations. This approach has fostered unity and cooperation, setting a precedent for prioritising state over party interests. While regional dynamics vary, the key lesson is that fostering inclusiveness and placing collective interests first can help bridge divides and promote peace.

Politics is all about the interests of the people, and we have established a very solid foundation for that. We are pleased that everyone is on board. In fact, as we speak today, other parties are calling me and saying, “Your Excellency, we are all working together.”

For environmental sustainability, we are enhancing our efforts to combat these challenges by improving security measures, increasing surveillance, and enforcing stricter regulations. We are also working on initiatives to engage local communities in environmental protection and ensure that they are actively involved in preserving our natural resources

In the tranquil town of Sampou, Bayelsa State, Nigeria, a young Douye Diri embarked on a path that would ultimately transform his homeland. Born to the late Pa Abraham J.M. Diri and Mrs. Rose Diri, Governor Douye Diri’s early life was shaped by his passion for education, leadership, and service to his people. From his foundational years as a student to his leadership role in the Ijaw National Congress (INC), Diri’s rise to power reflects his dedication to the progress of Bayelsa and the broader Niger Delta. Today, as Governor of Bayelsa State, he leads with a vision of growth, peace, and prosperity.

Unlocking Bayelsa’s Potential: A Strategic Vision

In an exclusive interview, Governor Diri outlined his administration’s approach to tackling Bayelsa’s challenges and advancing economic and infrastructure development. His strategy is built on inclusivity, education, and sustainable growth. “Our administration listens to the people and implements programs that meet their needs,” he emphasized. This commitment to peoplecentred governance has provided a stable foundation for economic activities and infrastructural progress across the state.

A Legacy of Peace and Unity

Governor Diri’s leadership stands on a message of reconciliation and inclusion. Reflecting on his administration’s peacebuilding efforts, he noted, “After the 2019

elections, many expected retaliation, but we chose love over hatred. We embraced everyone, including former opponents. Today, we work together seamlessly, making Bayelsa one of the most peaceful states in Nigeria.” This inclusive approach has fostered an atmosphere of peace and stability, which is crucial for sustainable development.

Building a Sustainable Future: Infrastructure and the Blue Economy

Governor Diri’s administration has prioritised infrastructure, particularly road networks that connect rural communities to urban centers. Projects like the Yenagoa-Oporoma Road, the Sagbama-Ekeremor Road, and the Glory Drive are critical for the state’s long-term prosperity. “We are linking rural areas and tapping into our coastal maritime resources,” he explained. The road to Brass, which leads to the Atlantic Ocean, highlights the state’s effort to unlock its blue economy.

Diri also underscored the importance of diversifying Bayelsa’s economy beyond oil. “Our real wealth lies in the maritime sector,” he noted, referencing opportunities in fishing, seafaring, and other marine activities. The Ministry of Marine and Blue Economy is actively engaging youth in these industries, positioning Bayelsa as a leader in Nigeria’s emerging blue economy.

Revolutionising Education for a New Generation

With a background in political science and a Nigerian Certificate in Education (NCE), Governor Diri is keenly aware of education’s role in progress. His administration is transforming the education sector by focussing on vocational, technical, and scientific training. “We recognised that traditional education wasn’t equipping our youth with the skills they need for employment,” Diri shared. To address this, science and technical colleges have been established in five local government areas, with plans for expansion. By offering free tuition, accommodation, and meals, these institutions are making education accessible to all.

As Governor Diri continues to chart Bayelsa’s future, his strategic vision of peace, education, and sustainability is unlocking new opportunities for growth. His journey from Sampou to the governor’s office is a testament to the power of dedication, integrity, and passion for the people

Advancing Agriculture and Healthcare

Governor Diri’s vision extends to agriculture and healthcare, both of which are vital to the state’s wellbeing. The government’s focus on rice, cassava, and aquaculture, driven by public-private partnerships, is helping to diversify Bayelsa’s economy. In healthcare, the Bayelsa Health Insurance Scheme has been expanded to cover all residents, ensuring no community is left behind.

Diri is also addressing environmental sustainability, a crucial issue for a state in the oil-rich Niger Delta. His administration has strengthened local security, set up environmental commissions, and taken legal action against companies responsible for environmental degradation. “Our environment is one of our greatest assets,” Diri remarked. “We are working with communities and stakeholders to preserve it for future generations.”

A Vision for Unity and Progress

Throughout his leadership, Governor Douye Diri has remained committed to unity and inclusivity. By forming a government that includes members of opposition parties, he has created an atmosphere of cooperation and progress. “This approach has fostered unity and cooperation, which is essential for any society’s progress,” Diri said.

As Governor Diri continues to chart Bayelsa’s future, his strategic vision of peace, education, and sustainability is unlocking new opportunities for growth. His journey from Sampou to the governor’s office is a testament to the power of dedication, integrity, and passion for the people.

In his own words, “Bayelsa’s best days are ahead.”

Gov. Diri visits project site in Nembe!

Governor Diri (right) addressing the state’s agric training delegates at the CSS Integrated Farms in Nasarawa State

Bridge across the Silver River at Aguobiri as part of the ongoing construction of the Yenagoa-Oporoma Road

Completed Etegwe bridge and dualised section of Isaac Boro Express way

Law School road in Yenagoa LGA

Remodelled Edepie-Etegwe (Tombia) Roundabout in Yenagoa

Ongoing construction of Angiama-Oporoma bridge

Bayelsa Health Insurance House

Bayelsa Transport Terminal, Igbogene, Yenagoa

Zambia’s energy sector, like many around the globe, faces multifaceted challenges, ranging from high foreign debt to the urgent need for modernisation and diversification of its energy mix. Under the leadership of Engr. Victor Mapani, ZESCO, Zambia’s state-owned power utility, has undertaken significant transformations to address these issues. The progress made in recent years reflects a deliberate and strategic approach towards financial restructuring, technological innovation, and enhancing Zambia’s energy security. This article analyses Mapani’s strategies and examines how they align with the perspectives of global leaders who have made notable contributions in similar areas.

Strategic Debt Management: Reducing ZESCO’s Foreign Liabilities

One of the most pressing issues Engr. Mapani encountered when he took the helm at ZESCO was the company’s substantial foreign debt, which included a $1.8 billion liability to Independent Power Producers (IPPs). This debt burden threatened the company’s financial stability. To address this, Mapani implemented a multifaceted approach that involved renegotiating tariffs, payment terms, and penalties, as well as converting short-term liabilities into more manageable long-term obligations.

The results of this strategy have been substantial. By July 2024, ZESCO’s IPP debt had been reduced to under $440 million, marking a significant improvement in the company’s financial health. This achievement mirrors the strategic financial reforms advocated by Christine Lagarde, President of the European Central Bank. Lagarde has long emphasised the importance of restructuring debt in a manner that supports long-term financial stability. Similarly, Mapani’s efforts at ZESCO highlight the importance of careful financial management and proactive engagement with creditors.

Advancing Operational Efficiency Through Digital Transformation

Beyond addressing financial challenges, Mapani has prioritised the digital transformation of ZESCO’s operations. Recognising the need for greater efficiency and cost savings, he spearheaded the development of in-house payroll and document management systems. These systems, developed internally by ZESCO’s ICT Business Unit, have significantly reduced operational costs and improved process efficiency across the organisation.

Zambia’s energy sector, like many around the globe, faces multifaceted challenges, ranging from high foreign debt to the urgent need for modernisation and diversification of its energy mix

As the world shifts towards renewable energy, Zambia’s reliance on hydroelectric power has come under scrutiny, particularly in light of changing climate patterns that affect water availability. To address this challenge, ZESCO, under Mapani’s leadership, has been expanding its energy mix to include more renewable sources

This focus on digital transformation aligns with broader trends in the global energy sector, where technology is increasingly used to streamline operations and reduce costs. Sundar Pichai, CEO of Alphabet Inc., has been a strong advocate for using technology to drive efficiency and innovation in business processes. Pichai’s emphasis on the strategic integration of technology into core operations resonates with Mapani’s approach at ZESCO. By prioritising digitalisation, ZESCO is not only improving its internal processes but also laying the groundwork for future growth in a rapidly evolving energy landscape.

Pioneering Renewable Energy: The Chisamba Solar Project

As the world shifts towards renewable energy, Zambia’s reliance on hydroelectric power has come under scrutiny, particularly in light of changing climate patterns that affect water availability. To address this challenge, ZESCO, under Mapani’s leadership, has been expanding its energy mix to include more renewable sources. A key initiative in this regard is the Chisamba Solar Project, a 100 MW solar power plant expected to be completed by the second quarter of 2025.

This project is part of a broader strategy to reduce Zambia’s dependence on hydroelectric power from 87% to around 70% within two years, with further reductions planned for the future. Diversifying Zambia’s energy portfolio is crucial for ensuring longterm energy security and resilience. Fatih Birol, Executive Director of the International Energy Agency (IEA), has highlighted the importance of diversifying energy sources to enhance energy security and reduce vulnerability to supply disruptions. Birol’s insights on the need for a balanced energy mix are reflected in ZESCO’s strategy to incorporate more solar power into its energy portfolio.

The Chisamba Solar Project, along with other planned solar initiatives, represents a significant step forward in Zambia’s renewable energy journey. By investing in solar power, ZESCO is not only reducing its reliance on hydroelectric power but also contributing to global efforts to combat climate change.

Enhancing Grid Stability: The Role of Battery Energy Storage Systems (BESS)

Another critical area of focus for ZESCO under Mapani’s leadership is the development of Battery Energy Storage Systems (BESS). As Zambia increases its reliance on solar power, the need for effective energy storage solutions becomes more pressing. BESS technology offers a way to store excess energy generated during peak production times for use during periods of low production or high demand. This capability is essential for maintaining grid stability and ensuring a reliable supply of electricity.

The exploration of BESS technology at ZESCO is in its early stages but holds significant potential for strengthening Zambia’s renewable energy capabilities. This initiative aligns with the global push toward energy storage as a key component of modern energy systems. Elon Musk, CEO of Tesla, has been a leading advocate for the development

and deployment of energy storage technologies, particularly in conjunction with renewable energy projects. Musk’s vision of an energy future where storage plays a central role is increasingly being realised in projects like ZESCO’s BESS initiative.

By investing in BESS, ZESCO is positioning itself to better manage the variability of solar power and enhance the stability of Zambia’s electricity grid. This not only supports the country’s renewable energy goals but also ensures that Zambia’s energy infrastructure can meet the demands of a growing economy.

Strengthening Regional Energy Integration: Expanding Transmission Infrastructure

Zambia’s strategic location in Southern Africa presents significant opportunities for regional energy integration. Under Mapani’s leadership, ZESCO has been actively pursuing the expansion of its transmission infrastructure to connect with neighbouring countries. Key projects in this area include the Zambia-Tanzania interconnector and two Zambia-DRC interconnections. These projects, expected to reach critical milestones by 2025, will enhance Zambia’s ability to trade electricity with its neighbours and contribute to regional energy security.

Regional energy integration is vital for optimising the use of resources across borders and ensuring that countries can support each other during periods of supply shortages. Ngozi OkonjoIweala, Director-General of the World Trade Organisation, has been a strong advocate for regional cooperation as a means of enhancing economic resilience. In the context of energy, regional integration can help countries achieve greater stability and security in their energy supplies.

ZESCO’s efforts to expand its transmission infrastructure and connect with regional power pools align with this broader vision of regional cooperation. By enhancing its transmission capabilities, Zambia is poised to become a key player in Southern Africa’s energy market, with the potential to export surplus electricity and import power during times of need. Diversifying Energy Sources: The Maamba Thermal Power Project

In addition to its focus on renewable energy, ZESCO is also expanding its thermal power generation capacity through partnerships with Maamba Collieries. The Maamba Phase 2 project will add much-needed baseload capacity to Zambia’s electricity grid, providing a reliable source of power that is essential for maintaining grid stability. This diversification of energy sources is critical for ensuring that Zambia can meet its growing energy demands and reduce its reliance on a single energy source.

The importance of energy diversification has been emphasised by leaders like Ravi Menon, Managing Director of the Monetary Authority of Singapore, who has noted that “diversification is key to managing risk and ensuring resilience in any system.” In the context of energy, diversification reduces the risks associated with dependence on a single source of power and enhances the overall security of the energy system.

ZESCO’s efforts to expand its transmission infrastructure and connect with regional power pools align with this broader vision of regional cooperation. By enhancing its transmission capabilities, Zambia is poised to become a key player in Southern Africa’s energy market, with the potential to export surplus electricity and import power during times of need

The Maamba Thermal Power Project is a strategic addition to Zambia’s energy portfolio, complementing the country’s investments in renewable energy. By diversifying its energy sources, ZESCO is not only enhancing Zambia’s energy security but also supporting the broader goals of economic growth and development.

Addressing Corruption: Upholding Integrity in Service Delivery

One of the challenges that has plagued ZESCO in the past is corruption, particularly in the execution of service delivery. Under Mapani’s leadership, ZESCO has taken a firm stance against corruption, implementing measures to improve transparency and accountability within the organization. This has included addressing issues such as employees seeking bribes from customers in exchange for services.

The fight against corruption is a critical component of ZESCO’s broader efforts to improve efficiency and restore public trust in the organization. Kofi Annan, the former Secretary-General of the United Nations, famously stated that “corruption is an insidious plague that undermines democracy and the rule of law.” Annan’s words underscore the importance of integrity in public institutions, and ZESCO’s commitment to tackling corruption aligns with this principle.

By addressing corruption, ZESCO is ensuring that its services are delivered fairly and efficiently, ultimately contributing to the company’s overall effectiveness and the satisfaction of its customers.

Charting the Future of Zambia’s Energy Sector

As ZESCO continues its transformation under the leadership of Engr. Victor Mapani, the company is positioning itself as a key player in Zambia’s energy sector and a leader in the broader African energy landscape. The strategies implemented by Mapani— ranging from debt reduction and digital transformation to renewable energy initiatives and regional integration— are laying the foundation for a more resilient and sustainable energy future for Zambia.

The alignment of ZESCO’s strategies with the insights of global leaders in finance, technology, energy, and governance underscores the company’s commitment to best practices and its ambition to be at the forefront of Africa’s energy revolution. As Zambia moves forward, the leadership of Engr. Mapani will be instrumental in shaping a future where energy security, sustainability, and economic growth are mutually reinforcing.

By addressing corruption, ZESCO is ensuring that its services are delivered fairly and efficiently, ultimately contributing to the company’s overall effectiveness and the satisfaction of its customers.

DEBT, TARIFFS, AND GREEN ENERGY: THE HIDDEN FORCES RESHAPING ZESCO

In this exclusive interview, we explore how ZESCO is undergoing a financial transformation under the leadership of Engineer Mapani. Despite facing substantial challenges, including a heavy debt load, the company has made significant strides in reducing its foreign debt. It has also launched a digitalization initiative aimed at enhancing operational efficiency. Engineer Mapani delves into the renegotiation of tariffs and outlines ZESCO’s pivotal role in advancing Zambia’s green energy agenda. He sheds light on the company’s commitment to sustainability, infrastructure growth, and energy security, offering a comprehensive view of the strategies shaping ZESCO’s future and Africa’s renewable energy landscape.

Under your leadership, Engr. Mapani, ZESCO has made significant progress in reducing its foreign debt. Can you elaborate on the key strategies behind this financial turnaround?

As regards the corporation debt, composed of government loans (US$600 million), foreign project debts (US$1.6 billion), and independent power producer (IPP) debt (US$1.8 billion), the focus was placed on the IPP debt as the first two were being treated separately both through the International Monetory Fund framework and equity treatment platform. On the IPP debt, it stood at circa US1.8 billion as of 31st December 2021. A four-trick solution was embarked on to address this part of the debt (i) through renegotiating of the tariffs, some of which debt was built on from Commission Operation Debts; (ii) through negotiating penalties in (i) and renegotiating payment terms; (iii) transferring this short-term liability to affordable long-term and making payments towards the legacy debt; (iv) ensuring that all current invoices from February 2022 to debt were paid to arrest debt raise.

By managing this process, the IPP debt has been reduced from circa US$1.8 billion as of 31st December 2024 down to below US$440 million as of 31st July 2024.

You led the development of ZESCO’s in-house payroll and document management systems. How has this improved operational efficiency and reduced costs?

Several processes are slowly being digitalised using internal resources. Our ICT Business Unit was enhanced by identifying talent outside ZESCO Limited and engaging some to fast-track digitalisation within the organization. While many processes still remain nondigital, several have been transformed. I personally took the lead by ensuring that ICT reported into my office as a strategic arm of corporations’s transformation agenda. The ZESCO Payroll System has been fully developed internally, saving hundreds of thousands of dollars; the subsistence allowance payments system has been fully digitalised from a manual process; the monitoring and evaluation activity is being transformed into a digital framework to be commissioned soon; and the corporate risk register records and reporting have been digitalised. Through this process, the innovators are motivated to do more than the obvious on the differentiation front. ZESCO continues to drive this critical agenda.

The Chisamba Solar Project is a prominent public-private partnership for ZESCO. How do you see it shaping Zambia’s green energy future?

The Chisamba 100 MW solar project is ZESCO owned through a subsidiary. It is envisaged to be completed by the second quarter of 2025. Other projects through public-private partnerships are being sought, like the Kafue Goarge Lower

Our ICT Business Unit was enhanced by identifying talent outside ZESCO Limited and engaging some to fast-track digitalisation within the organization. While many processes still remain nondigital, several have been transformed. I personally took the lead by ensuring that ICT reported into my office as a strategic arm of corporations’s transformation agenda

There

is an effort to get Angola interconnected to the Southern African Power Pool through Zambia by 2027. Works have commenced on this front. With these projects once ready for power imports and exports, ZESCO shall optimise its centricity in both network stability and power trading activities

100 MW solar, the Kariba Siavonga area 100 MW solar, and a few more private outfits also starting up by the end of 2024. These collectively shall change the power generation portfolio from an 87% hydro dependent to about 70% in two years from now. With more engagements on this front, the plan is to reduce dependency on continued reduced hydrological outlook down to below 50% by 2030.

ZESCO is now a leader in developing battery energy storage systems (BESS). How will this project strengthen Zambia’s renewable energy capabilities and enhance grid stability?

This space is still being explored to encourage all customers to invest in solar power schemes that shall encourage energy storage. Further investors in solar power production are encouraged to equip the developed plants with energy storage capabilities. Independent energy storages along with solar power plants are also encouraged. As a company, this is still on the study pages for soon execution through solar power plants with energy storage.

At the CEO Forum, you stressed the need for improved transmission infrastructure. How is ZESCO tackling these challenges, especially in relation to regional energy integration?

ZESCO is strategically located with great opportunity to be internationally connected through international power transmission lines. Three main projects in this space that are advanced and active are: (i) the Zambia-Tanzania interconnector, funded by the World Bank, is ready to start construction by early 2025; (ii) the first Zambia-DRC privately developed interconnection is getting to financial close mid-2025; (iii) while the second Zambia-DDRC interconnector, fully studied by the African Development Bank, is ready for

funding to commence construction.

There is an effort to get Angola interconnected to the Southern African Power Pool through Zambia by 2027. Works have commenced on this front. With these projects once ready for power imports and exports, ZESCO shall optimise its centricity in both network stability and power trading activities.

ZESCO has expanded its energy mix by boosting thermal power generation through partnerships with Maamba Collieries. How vital is this diversification for Zambia’s energy security?

This project for Maamba phase 2 shall significantly provide both the muchneeded baseload and enhance the much-needed energy diversification agenda for the nation. It is also in line with the country’s energy Sufficiency, Security, and Surplus policy as per the National Energy Intergrated Resource Plan. A further proof that Zambia is open for investments by the private sector.

Your leadership at ZESCO is defined by a firm stance against corruption. How have you navigated the difficulties of challenging entrenched interests?

The scourge of corruption formed a high alert as some ZESCO employees tended to seek favours from unsuspecting customers to execute work for them while on full pay. Going by the number of complaints in this space, there has been a slowdown on this retrogressive act. The efficiency levels have improved in delivering services to customers in general.

Zambia’s energy sector is evolving as the world shifts towards sustainability. What role do you see ZESCO playing in Africa’s renewable energy transition?

ZESCO’s role is to continue forging ahead with majorly the two forms of renewable energy, i.e., (i) solar energy harnessing with a target of at least 30% of baseload and (ii) geothermal now being pursued through possible siting and explorations.

With extensive experience across Africa and Europe, how has your international exposure influenced your leadership approach at ZESCO?

I can only speculate here, as I may not be the right judge for this question. All I can say is working with various power utilities in Africa and Europe exposed to working cultures that vary widely while learning to target results for every task no matter how small without losing the bigger picture.

As ZESCO continues its transformation, what are your top priorities for the company going forward?

Going forward, the strategy set needs to realise the following

1. Ensure that the ZESCO customers are at the centre in all aspects of ZESCO’s operations and business growth.

2. Aim to get ZESCO to financial sustainability as efforts on debt reduction and financial resource optimisation continue to be prioritised.

3. Enhance the power system expansion to generate more power, optimally evacuate locally, and pass through power for system stability.

4. Ensure existing network infrastructure is maintained in line with best practices.

5. Optimise the human capital to ensure staff productivity is worldclass. and imported power, reducing the ZESCO debt.

ESCO’s role is to continue forging ahead with majorly the two forms of renewable energy, solar energy harnessing with a target of at least 30% of baseload and geothermal now being pursued through possible siting and explorations

In the dynamic world of banking, where market fluctuations are constant and the push for innovation is unrelenting, leaders who can navigate both tranquil and tumultuous periods are invaluable. Among these titans of finance are figures like Ana Botín of Banco Santander, Jamie Dimon of JPMorgan Chase, Shu Gu of the Industrial and Commercial Bank of China, and David Solomon of Goldman Sachs. These leaders have solidified their places in banking history through visionary leadership, resilience, and a relentless pursuit of innovation. Yet, in this global arena, a new name quietly emerges, poised to join these giants: Daniel Asiedu.

As the Managing Director of OmniBSIC Bank in Ghana, Asiedu’s rise has been remarkable, characterised by bold strategies and a vision that stands apart. His journey through the complex waters of global finance raises a pivotal question: how far will he go to secure his place among the elite? In a recent exclusive interview, Asiedu shared insights into his journey, leadership style, and the key factors driving his success. As we explore his story, the similarities between his leadership approach and those of the global banking giants become strikingly evident.

Daniel Asiedu’s ascent to the top of banking leadership is truly inspiring. Growing up in a challenging environment, marked by the separation of his parents and the absence of a father, Asiedu’s early life was far from easy. Nevertheless, he persevered. Raised by a determined mother, he learnt that success is crafted by effort and resilience. Moving to Nigeria at the age of 15, he faced the daunting challenge of navigating life without the support many of his peers had. Reflecting on his upbringing, Asiedu remarked, “Growing up without a father was challenging. But my mother was determined to make something good out of me, with the help of God. I had to struggle through life, often going the extra mile to achieve the results I wanted.” This resilience and determination have become the foundation of his leadership philosophy.

Similar to Ana Botín, who transformed Banco Santander into a global powerhouse through a focus on digital innovation and sustainability, Asiedu’s journey is also

about transformation—both personal and professional. His impressive academic background, including degrees in mechanical engineering and multiple MBAs, reflects his relentless pursuit of knowledge. His career, starting at PricewaterhouseCoopers and including significant roles at Zenith Bank and Agricultural Development Bank, set the stage for his leadership at OmniBSIC Bank.

One of Asiedu’s defining traits is his deeprooted faith. As a reverend minister leading one of Ghana’s largest Christian denominations, he attributes his success to the “God factor” in his endeavors. “Everywhere I’ve been, especially when taking over an organisation, I’ve always incorporated the God factor,” he said. “I believe that it indeed makes a difference.” This spiritual aspect of leadership mirrors the approach of leaders like Shu Gu of ICBC, who emphasises ethical considerations in business amidst a landscape of regulations and economic fluctuations.

Asiedu’s belief in the power of faith is evident in his leadership style. He encourages his staff to engage in spiritual practices, believing that invoking divine presence can significantly impact their work

Asiedu’s belief in the power of faith is evident in his leadership style. He encourages his staff to engage in spiritual practices, believing that invoking divine presence can significantly impact their work. “Most of the time, at night, you’ll find me sitting on the floor at midnight, praying to God. I say, ‘God, You’ve set me here for a purpose, and that purpose must be fulfilled,’” he shared. His leadership style, described as “silent performance,” contrasts with more visible leaders. Asiedu prefers to let his results speak for themselves. “I strongly believe in impacting the organisation where I work. The most important thing is to let the results speak for themselves,” he explained.

This reserved yet impactful approach resembles Jamie Dimon’s leadership at JPMorgan Chase. Known for his strategic insight and ability to manage economic uncertainties, Dimon focusses on results rather than rhetoric. Under his leadership, JPMorgan Chase has consistently been one of the world’s most profitable banks, demonstrating the effectiveness of quiet, results-driven leadership. Similarly, under Asiedu’s guidance, OmniBSIC Bank has undergone a remarkable turnaround. When he assumed leadership four years ago, the bank was struggling and ranked 23rd in terms of size and profitability. Today, it is among the top 15 banks in Ghana, recognised for its excellent customer service and positive

work environment. “We’ve won many awards as a bank because our results are speaking for us,” Asiedu noted with pride.

Leading a bank through a turnaround requires not only strategic vision but also the ability to inspire and mobilise people. Asiedu attributes his success to focussing on people. “Getting the right people on board, ensuring they are committed, dedicated, and believe in the vision, has made a significant difference,” he said. This focus aligns with David Solomon’s leadership at Goldman Sachs, who emphasises the importance of culture and talent in driving success. Solomon, like Asiedu, believes that investing in people and fostering a high-performance culture are crucial for long-term success. At Goldman Sachs, this has involved diversifying into new areas like consumer banking, while at OmniBSIC, it has meant transforming a struggling bank into a profitable and respected institution.

Asiedu’s leadership is also marked by a strong emphasis on high performance and rewarding excellence. “We implemented a system where employees who achieved their targets were rewarded with international training opportunities,” he explained. This strategy not only motivates employees but also reinforces the connection between performance and reward—a key factor in the bank’s success.

In navigating modern banking complexities, Asiedu views challenges as opportunities for innovation and strengthening the bank’s position. Reflecting on his experience in turning around OmniBSIC Bank, he highlights the importance of strategic planning and adaptability. “We use several key performance indicators (KPIs) to evaluate the bank’s performance,” Asiedu said. “Our primary measures are profitability and balance sheet growth. Customer service quality is also crucial, and we continuously assess this through methods like mystery shopping reports and internal evaluations.” This focus on metrics and continuous improvement is a common trait among successful banking leaders.

For example, Ana Botín’s leadership at Banco Santander is characterised by a focus on digital transformation and customer-centricity, ensuring the bank remains competitive in a rapidly evolving market. Similarly, Asiedu has overseen significant technological investments at OmniBSIC Bank, recognising that technology is essential in today’s banking environment. “If you are not technologically advanced, you will struggle to survive,” he asserted. The bank’s investment in electronic systems and platforms has been crucial in improving service delivery and achieving financial results.

Looking ahead, Asiedu aims to keep OmniBSIC Bank at the forefront of the Ghanaian banking industry. His vision for the future is grounded in service excellence, technological innovation, and a strong corporate culture. “Our primary focus is service,” he reiterated. “While other banks may offer similar services, we strive to do it better.” This commitment to service extends beyond meeting customer expectations; it aims to exceed them. By bringing banking to customers’ doorsteps and ensuring swift, efficient service, OmniBank is positioning itself as an industry leader.

Asiedu’s strategy for the future also includes embracing the latest trends in digital banking. “We are implementing what we call Bank 5.0, which addresses the latest advancements in digital banking,” he revealed. This forward-looking approach ensures the bank is well-prepared to meet evolving customer needs in the digital age. Daniel Asiedu’s journey from a challenging childhood to the leadership of OmniBSIC Bank exemplifies the power of resilience, faith, and visionary leadership. Like the global banking leaders with whom his leadership can be compared, Asiedu shows that success in banking is not just about numbers but about people, values, and a commitment to excellence.

In a world where banking leaders are often judged by their ability to navigate crises and drive profitability, Asiedu stands out as a leader who brings a unique blend of humility, faith, and strategic insight to the table. His story serves as a reminder that true leadership is not about seeking the spotlight but about making a lasting impact— quietly, effectively, and with purpose. As OmniBSIC Bank continues to thrive under his leadership, Daniel Asiedu’s name is set to become synonymous with success in the banking industry, not just in Ghana or Africa but potentially on the global stage.

In navigating modern banking complexities, Asiedu views challenges as opportunities for innovation and strengthening the bank’s position. Reflecting on his experience in turning around OmniBSIC Bank, he highlights the importance of strategic planning and adaptability

Delivering Banking Excellence at Scale

As global crises such as the pandemic, the Russia-Ukraine war, and economic instability continue to challenge industries, OmniBSIC Bank finds itself at a critical juncture, navigating these turbulent times. In this exclusive interview, Mr. Daniel Asiedu, Managing Director of OmniBSIC Bank, Ghana, offers valuable insights into the bank’s strategic responses, the tangible impact of these disruptions, and the future of banking in a rapidly evolving digital world. Focussing on action rather than promises, this conversation reveals what it truly takes to stay ahead when the stakes are high.

Excerpts

Thank you for joining us, Mr. Asiedu. Can you tell us a bit about your early life and career journey?

I hold a first degree in mechanical engineering from the University of Ibadan, Nigeria, which I completed in 1992. I also earned two MBAs in Finance and Economic Policy Management, as well as an MSc in Development Finance, all from the University of Ghana. Additionally, I have attended numerous courses locally and internationally at prestigious institutions, including Harvard, Wharton, Kellogg, Stanford, and the London Business School. These experiences have been fundamental in shaping who I am today.

My career began in Nigeria in 1994 at Price Waterhouse, which later became PricewaterhouseCoopers. In 2000, I joined Zenith Bank in Nigeria. By 2003, I returned to Ghana and briefly worked with the Volta River Authority (VRA). Then, in 2004, I became the Financial Controller at Standard Trust Bank Ghana. In 2005, I joined Zenith Bank Ghana as Chief Operating Officer and became Managing Director in 2010. I later joined the Agricultural Development Bank in 2016, before moving on in 2017. Between 2017 and 2020, I completed further postgraduate degrees before taking up the role of Managing Director of Nevisik in May 2020.

I hold a first degree in mechanical engineering from the University of Ibadan, Nigeria, which I completed in 1992. I also earned two MBAs in Finance and Economic Policy Management, as well as an MSc in Development Finance

My faith has always been central to my leadership. Whenever I take on a leadership role, I bring the “God factor” into the organisation. I truly believe that God’s presence in what we do makes a huge difference

Outside my professional life, I’m married with four children and also serve as a reverend minister, leading the General Mercy Fountain Gate Chapel Worldwide, which has over 350 branches globally. That’s the journey so far.

Growing up, what challenges did you face, and how did those experiences shape you?

My parents separated when I was less than a year old, so my mother raised me singlehandedly. It was tough growing up without a father figure, but my mother was determined to give me a good future. We moved to Nigeria in 1983 when I was 15, and I had to grow up quickly. I often tell people that I completed secondary school in about two and a half years because I had to study part-time. With no fallback, I was driven to succeed. I worked extra hard in school, even teaching my peers in subjects like mathematics.

After gaining admission to study mechanical engineering at university, I was determined to excel. Despite the challenges, I graduated with honours. Looking back, I struggled, but God’s grace carried me through. Today, when people see my success, they might assume it was easy, but I had to fight for everything. I believe these early experiences made me resilient and focused, and I always tell others that no matter how tough life gets, your effort and faith in God can make a difference.

Who were your mentors, or were there individuals who influenced your journey?

Growing up, I didn’t have mentors in the traditional sense. I didn’t have a father figure to look up to, and my mother, though supportive, wasn’t a mentor in the way we think of today. However, I found inspiration in the stories of successful people. I started reading about great individuals like Warren Buffet, Jack Welch, and MKO Abiola. I

didn’t have access to them personally, but their stories motivated me. I always believed that if they could achieve greatness, then I could too. That mentality kept pushing me forward.

How has your faith influenced your leadership style?

My faith has always been central to my leadership. Whenever I take on a leadership role, I bring the “God factor” into the organisation. I truly believe that God’s presence in what we do makes a huge difference. At one of the organisations I led, I made it mandatory for everyone to attend fellowship. When you bring God into your work, He multiplies your efforts. Some organisations I’ve led were struggling, but with faith, we turned them around. It’s not by my might but by God’s grace.

My leadership is also rooted in prayer. I often pray at midnight, asking God to guide me. I believe that if I succeed, it’s because God has a purpose for me, and I rely on that belief to push through difficult times.

You’ve mentioned that the “X factor” plays a role in leadership success. Can you elaborate on what that means for you?

For me, the “X factor” is the God factor. Throughout my career, I’ve seen how God orchestrates things in my favour. Whether it was becoming Managing Director at Zenith Bank or moving to the Agricultural Development Bank, I’ve always believed that God played a role. Even in my role as General Overseer in my church, I didn’t expect to be chosen, but God made it happen. I firmly believe that while hard work and skill are essential, there’s always a divine element at play.

Your leadership style seems understated—what drives this approach?

I believe in letting results speak for

themselves. I don’t see the need for attention or accolades. My focus is on the people—how I can motivate them to give their best. Leadership is about influencing people to achieve great results, and if you can achieve that without making a lot of noise, the results will speak for you. That’s how I operate. I don’t seek out media coverage or make grand announcements. For me, the success of the bank and its people is the most important thing.

What would you say is your proudest achievement?

My proudest achievement has been turning around OmniBSIC Bank. When I took over, the bank was struggling. Many people thought I was making a mistake by taking on the role. Today, the bank has grown significantly in size and profitability. We’ve moved from being ranked 23rd in size and profitability to being among the top 15 in Ghana. More importantly, the morale within the bank has improved dramatically. Our staff are happy, our customers are satisfied, and we’ve gained recognition within the banking industry. For me, that’s my greatest achievement—seeing the bank’s transformation and growth.

What are the key factors behind OmniBSIC Bank’s turnaround?

One of the key factors has been the people. I’ve worked hard to assemble a team of dedicated, committed individuals who believe in the vision of the bank. Creating a high-performance culture has also been crucial. We reward outstanding performance and offer international training opportunities for those who excel. We’ve sent employees to Harvard, the London School of Economics, and other top institutions. When people see that hard work is rewarded, they’re motivated to give their best.

We also focused on customer service. Improving how we engage with our customers has been central to our success. We regularly evaluate our service delivery and address any issues promptly. This customer-centric approach has helped build trust and loyalty.

What are some of the challenges you face in running the bank?

One of the main challenges is competition. We’re competing with

One of the main challenges is competition. We’re competing with wellestablished banks that have been around for decades, and it can be tough to keep up with their resources and reach

well-established banks that have been around for decades, and it can be tough to keep up with their resources and reach. Regulations also pose challenges, as policy changes can disrupt operations.

Another challenge is meeting customer expectations. Today’s customers are more sophisticated and demand quicker, more efficient service. We’ve had to continuously review and refine our processes to meet these evolving expectations.

Despite these challenges, I’m proud of how far we’ve come. We’ve built a strong team, improved our processes, and are growing steadily. What are some key performance metrics you use to measure the bank’s success?

Profitability and balance sheet growth are primary metrics. We set targets for each branch, which contribute to our overall bank-wide targets. Customer service quality is another critical metric. We conduct mystery shopping and internal evaluations to assess how we’re serving our customers. Lastly, I remain closely involved in the bank’s operations, ensuring we stay on track and maintain high standards across the board.

With these metrics, we can assess our progress and continue to improve.

How did you manage to survive COVID-19, and in light of recent disruptive factors such as the Russia-Ukraine war, inflation, and forex issues, how do you continue to combat these challenges?

Incidentally, I wasn’t with the bank during the COVID-19 pandemic, as I was still in school at the time. However, I understand that the leadership then implemented strategies to navigate the crisis. Their efforts ensured the bank’s survival, and the fact that we are still here is a testament to their effective measures.

From my perspective, crises like these often bring out the best in an organisation. They force you to think creatively and adapt beyond conventional methods. In times of external shocks, such as the pandemic, the Russia-Ukraine conflict, inflation, and forex issues, it becomes crucial to innovate and be extraordinary in your approach. These challenges push you to refine your strategies and strengthen your resilience.

Ultimately, overcoming such disruptions not only helps the organisation survive but also enhances its capabilities and

I agree that technology is essential. If a bank is not technologically advanced, it will struggle to survive in this environment. Customers are more sophisticated now; even someone in a remote village might hold a phone

We have heavily invested in electronic systems and platforms to ensure we deliver the best service to our customers. I can tell you that some of the products and services we offer are among the best in the industry

positions it better for future challenges. The ability to adapt and thrive amidst adversity is a significant factor in the bank’s continued success.

How does the bank need to adopt technologies to improve its operations?

I agree that technology is essential. If a bank is not technologically advanced, it will struggle to survive in this environment. Customers are more sophisticated now; even someone in a remote village might hold a phone. The days of expecting people to conduct many tasks manually are long gone. It’s all about electronic solutions now. We have heavily invested in electronic systems and platforms to ensure we deliver the best service to our customers. I can tell you that some of the products and services we offer are among the best in the industry. Achieving our financial results last year was a major accomplishment, and it would not have been possible without the right investment in technology. This investment has played a crucial role in our success, and I am proud to present our annual report for the first time last year.

What would you say is your primary focus? What’s unique about your bank?

Our primary focus is service. You can be assured that if you visit any of our branches or engage in a simple overthe-counter transaction, it won’t take more than three minutes. We also bring banking to your doorstep. While other banks may offer similar services, we strive to do it better. I personally get involved and visit various locations to demonstrate our commitment. When people see me there, they realise that, as the leader, my presence signifies the value we place on their business.

For us, it’s all about service. Many banks emphasise products and services, but we let our service speak for itself. We

don’t boast loudly, but our customer experience convinces people that this is the best bank for their needs. What are the key strategies you employ in areas like technology adoption, corporate banking, and customer retention?

Our strategy is straightforward. We focus on empowering our people to ensure they serve customers well. We treat customer service failures with the utmost seriousness, even more so than fraud. Winning a customer takes significant effort, and we strive to ensure that once a customer joins us, they remain satisfied and committed.

We place a high priority on customer retention. Any attempt to frustrate or displease a customer is met with serious resistance. Our approach involves providing our staff with the tools and authority to deliver exceptional service. As a result, most of our customers are very happy, and we receive positive feedback regularly. Customer satisfaction is crucial because retaining a customer is far more valuable than acquiring a new one.

With the rise of digital banking and the evolving trends in financial services, how is your bank preparing for the future?

We are well-prepared for the future of banking. We are implementing what we call Bank 5.0, which addresses the latest advancements in digital banking. While I can’t share all the details, I can assure you that we have the board’s approval and are working on several innovative strategies.

For example, we are exploring initiatives like drive-through banking and WhatsApp banking, among other advancements. We are committed to staying ahead in the digital space and are confident that our upcoming innovations will set new standards in the industry.

We are deeply committed to CSR and believe in giving back to the communities where we operate. My own background has influenced this commitment, as I understand the importance of supporting others who may be facing challenges

Regarding gender inclusion, especially with recent discussions on affirmative action and gender diversity, how does your bank approach gender balance? Have you encouraged women to advance within the corporate hierarchy, considering the banking and financial sector’s traditional male dominance?

At our bank, we pride ourselves on gender balance. In fact, we have a higher number of female employees compared to males. At the executive level, out of seven of us, two are women, and we are actively working to increase this number. We are committed to providing equal opportunities to everyone, regardless of gender. We believe that fostering a diverse and inclusive environment benefits the entire organisation.

What is your approach to corporate social responsibility (CSR), and how do your initiatives contribute to society?

We are deeply committed to CSR and believe in giving back to the communities where we operate. My own background has influenced this commitment, as I understand the importance of supporting others who may be facing challenges. We provide scholarships and support to students who excel academically, offer aid to disaster victims, and organise large health walks to promote well-being. Additionally, we prioritise environmental and social governance to ensure our operations are sustainable and responsible. These initiatives are designed to make a positive impact on society and contribute to the well-being of our communities.

What are your logics of success?

There are no shortcuts to success. It requires dedication, commitment, and hard work. To be successful, you must be prepared to pay the price, which

involves being deeply committed and focused on your goals. Innovation and creativity are also crucial; thinking outside the box can set you apart from others. In my own experience of over 30 years, I’ve consistently adhered to these principles. For instance, I rarely come to the office late; in the last four years, I’ve only done so a couple of times, and even then, I notify my secretary in advance. Success demands that you lead by example and truly embody the work ethic you expect from others. Many people aspire to success but aren’t willing to make the necessary sacrifices, and that’s where they fall short.

I see you have a very busy schedule. How do you balance family life with work and other routines?

I often describe myself as a very boring husband, and thankfully, my wife and kids have accepted me as I am. My routine is quite simple and revolves around office work and church activities. It can be challenging; for example, I recently attended a program late into the night and only got home around 10:30 PM. I was back at work by 7:00 AM the next day. Balancing these responsibilities requires a lot of support from my family. My wife makes significant sacrifices, and her understanding and encouragement are crucial. Despite the hectic schedule, by God’s grace, I manage to be effective in all these roles, including being a husband and a father.

How do you approach personal and professional development, both for yourself and within your systems?

I prioritise continuous learning and development by attending top business schools annually. For instance, just last month, I attended the Global Executive Academy at MIT Sloan School of Management for two weeks. These programs are invaluable for staying updated with the latest trends in management and leadership.

Additionally, I engage in extensive research in specific areas where I wish to build capacity. While I don’t read as much as some might expect, I spend a significant amount of time working with numbers and researching relevant topics to enhance my expertise.

Consultation is also crucial to my development. I seek advice from various sources, including industrial consultants, spiritual advisors, and family members, especially my wife. This diverse input helps me navigate both personal and professional challenges effectively.

How committed are you to the development of your employees?

We are deeply committed to our employees’ development. Our policy mandates that every staff member must receive training at least once a year. We tailor these training programs to address specific areas where employees need to build capacity.

For our middle and top-level management, we invest in highquality training opportunities. Many of our managers have attended

prestigious institutions such as the MIT Sloan School of Management, Harvard, and the London School of Economics. This ensures they stay updated with the latest developments and best practices in their fields.

Additionally, we provide local training and seek out experts to address specific gaps. For example, just a few weeks ago, we had a renowned expert from Nigeria conduct a training session, which was highly praised by our team. This ongoing investment in our employees’ growth is essential for their professional development and the overall success of the organisation.

What are your future projections for the bank?

In the near future, we aim to be among the top three banks in Ghana, excelling in performance, customer service, profitability, and balance sheet size. We also aspire to be recognised as the best employer in the industry, prioritising a people-focused approach to ensure our bank is the most attractive workplace.

Our goal is for graduates to consider us one of their top choices for employment, alongside other leading companies. Additionally, we want to be the bank that every customer looks forward to doing business with, becoming a preferred choice for our clients. What advice would you give to young people?

My advice is to thoroughly understand the industry you want to enter and recognise the demands it places on you. For example, the banking industry is quite demanding. If you aspire to be a banker, it’s not just about dressing well; you need to be prepared for significant sacrifice and commitment to achieve success. In our field, working on weekends is common—last Saturday, we had a program, and this Saturday, we have another.

There are no shortcuts to success in any industry. The key is to give your best effort wherever you find yourself. I firmly believe that if you approach your career with a mindset of striving to be the best, you will eventually achieve success.

Inside the Leadership Labyrinth: What OmniBSIC’s Management Reveals About Daniel Asiedu’s Masterplan

In the highstakes world of banking, where fortunes can shift in an instant, few stories are as captivating as the transformation of OmniBSIC Bank. When Daniel Asiedu took on the role of Managing Director, he faced the challenge of uniting a fractured institution formed from the merger of OmniBank and Sahel Sahara Bank

In the high-stakes world of banking, where fortunes can shift in an instant, few stories are as captivating as the transformation of OmniBSIC Bank. When Daniel Asiedu took on the role of Managing Director, he faced the challenge of uniting a fractured institution formed from the merger of OmniBank and Sahel Sahara Bank. This merger created a landscape rife with confusion, clashing cultures, and operational chaos. Despite these daunting obstacles, Asiedu was tasked with the formidable challenge of merging these disparate entities into a cohesive and successful organisation.

The transformation that followed was nothing short of extraordinary. With sharp vision and unwavering determination, Asiedu guided OmniBSIC Bank through a turbulent period, overcoming doubt and adversity. But what were the key strategies behind this turnaround? What insights can be drawn from this journey? In an exclusive interview, OmniBSIC Bank’s management team reveals the leadership strategies that drove this remarkable transformation. They provide an in-depth look at the individual who led the bank from near collapse to outstanding success. As you explore their story, be ready to challenge your assumptions and gain a new perspective on leadership in the banking industry. The full story awaits those eager to discover it.

Anne Marie Appiah,

task of merging the two banks. “When Mr. Asiedu took over, we were at a crossroads,” she reflects. “The merger left us uncertain, but his reputation as a seasoned banker quickly instilled confidence.”

Describing Asiedu’s leadership style as both assertive and fair, Anne Marie highlights how these qualities were crucial in navigating the merger. “He’s a trailblazer,” she asserts. “His leadership ensured that the bank not only survived but thrived. He created an environment where every employee, regardless of their background, felt valued and equipped to succeed. His hands-on approach meant he was involved at every level, ensuring alignment with the bank’s goals.”

Anne Marie Appiah, Group Head of Corporate Banking

daunting

Group Head of Corporate Banking, recalls the

Under Asiedu’s leadership, OmniBSIC Bank has transformed into a unified, high-performing institution. “There’s no favouritism,” Anne Marie notes. “Rewards and recognition are purely merit-based, fostering a culture of fairness and equity. This has not only boosted morale but driven us to achieve more than we ever thought possible.”

George Ocansey, Divisional Head, Marketing and Executive Committee member, has worked closely with Daniel Asiedu for over a decade. “I’ve known Mr. Asiedu since 2008,” George begins, his respect evident. “He’s more than just a leader—he’s a mentor and a father figure. His visionary leadership has profoundly impacted my role and the bank as a whole.”

George attributes the bank’s financial turnaround directly to Asiedu’s leadership. “Leadership is everything,” he states. “When Mr. Asiedu took over, OmniBSIC was struggling financially. Under his guidance, we’ve become profitable. The recognition we’ve received from stakeholders, the central bank, and our customers is a testament to his impact.”

What sets Asiedu apart, according

to George, is his meticulous attention to detail and relentless pursuit of excellence. “He leads by example, setting high standards that push us all to align with his vision. His spiritual grounding also guides his approach to leadership, blending strong values with a commitment to excellence.”

Mrs Chidinma

Braye-Yankee, Group Head, Corporate Comms, CX & E-Business

Chidinma Braye-Yankee, Group Head of Corporate Communications, Service Quality, E-Business, and Product Development, offers a unique perspective on Asiedu’s influence.

“I’ve known Mr. Asiedu since 2006, and his leadership style has always been inspirational,” she begins.

“When I joined the bank about a year ago, I was struck by the positive energy and high standards he set.”

Under Asiedu’s guidance, OmniBSIC Bank has seen dramatic improvements in customer service, a key pillar of its strategy.

“Since my arrival, our customer service metrics have significantly improved,” Chidinma reveals.

“Our Net Promoter Score has surged past 60, and our customer satisfaction rate now stands at

an impressive 93%, well above global benchmarks. This is a direct result of Mr. Asiedu’s unwavering commitment to excellence.”

Beyond customer service, Asiedu’s openness to innovation and focus on employee well-being have shaped the bank’s culture.

“He’s always willing to embrace bold ideas,” says Chidinma.

“For instance, when I proposed increasing our branch visibility through prominent branding, he was fully supportive. His enthusiasm for new initiatives and genuine care for his team make him a truly exceptional leader.”

Dr. Philip Oti-Mensah, Chief Operating Officer

Dr. Philip Oti-Mensah, Chief Operating Officer, reflects on the cultural and financial transformation of OmniBSIC Bank.

“When Mr. Asiedu was appointed, we were a bank in name only—two institutions trying to merge but still operating in silos,” Dr. Oti-Mensah recounts. “The first thing he did was unite us under a shared vision. Within a month, it felt like we were finally one bank with one mission.”

Under Asiedu’s leadership, OmniBSIC Bank’s total assets have soared from less than a billion

cedis to an impressive 7 billion cedis. “Before the merger, we were a loss-making bank with a cost-toincome ratio over 100%. Today, that ratio is around 50%, and our revenue has surged,” Dr. OtiMensah explains. This remarkable turnaround was driven not just by cost-cutting but by Asiedu’s strategy of repositioning staff and focussing on revenue generation.

Mr. Theodore Asare-Bediako, Group Head of Treasury and Investment, offers insights into how Asiedu’s leadership has transformed the bank’s Treasury operations. “In a dynamic space like Treasury, you need a leader who is strategic and adaptive. Mr. Asiedu embodies that leadership,” Asare-Bediako begins. “His leadership style is both inspiring and demanding. He doesn’t just set expectations—he ensures we have the tools to exceed them.”

Mr. Theodore Asare-Bediako, Group Head of Treasury

Asare-Bediako also emphasises Asiedu’s commitment to accessibility and development. “His open-door policy is a lifeline. He’s always available for feedback, constantly pushing us to innovate and grow. His personal mentorship has profoundly impacted my career

and personal growth.”

The insights from OmniBSIC Bank’s management team paint a portrait of Daniel Asiedu as a transformative leader. His visionary approach has not only revitalised the bank but also inspired a culture of excellence, unity, and growth. Through his hands-on leadership, unwavering commitment to high standards, and deep care for his team, Asiedu has set OmniBSIC Bank on a path of sustained success. Under his guidance, the bank is not just thriving—it is setting new standards for leadership in the banking industry.

As Chief Risk Officer, I have had the privilege of observing Daniel Asiedu’s exceptional leadership firsthand. His ability to navigate the bank through challenging periods is unmatched. When he assumed leadership, OmniBSIC was facing considerable challenges following the merger. His strategic vision, combining cautious risk management with bold ambitions, was crucial in overcoming these difficulties and positioning the bank for growth.

Mr. Asiedu’s leadership strikes a

perfect balance between foresight and pragmatism. He has made risk management a fundamental part of the bank’s long-term strategy, ensuring that innovation and careful oversight guide every department. His skill in anticipating potential risks while capitalising on opportunities has been truly remarkable. Under his leadership, we have built a comprehensive risk management framework that aligns seamlessly with the bank’s broader goals.

What truly sets Mr. Asiedu apart is his inclusivity and accessibility. By actively seeking input from all levels, he has fostered a culture of transparency and accountability. His open-door policy has enabled my team to work closely with him, ensuring that risk considerations are deeply embedded in every strategic decision. This approach has not only bolstered our risk resilience but also elevated the bank’s overall performance. Thanks to his leadership, OmniBSIC has become a stable, high-performing institution, and I am honoured to be part of this transformative journey.”

The insights from OmniBSIC Bank’s management team paint a portrait of Daniel Asiedu as a transformative leader. His visionary approach has not only revitalised the bank but also inspired a culture of excellence, unity, and growth

Mr. Dominic Donkor Chief Risk Officer

The Historic Union of Africa and the Caribbean at UNGA

By Stephen Williams

The African and Caribbean continents share a profound history shaped by the brutal TransAtlantic slave trade, colonial abuses, and the anti-colonial struggle

When world leaders from 193 nations gather in New York this September for the 79th Session of the United Nations General Assembly (UNGA), the agenda will be complex and far-reaching. Various regional groupings have evolved within the UNGA, including both African and Caribbean States.

In 2021, the Caribbean Community (CARICOM) and the African Group made history at the UN by delivering a joint statement through a new geopolitical alliance known as AfCAR (Africa GroupCARICOM). CARICOM, encompassing 21 countries—15 Member States and six Associate Members—spans from The Bahamas in the north to Suriname and Guyana in South America, and

is home to approximately 16 million people. It stands as the oldest surviving integration movement in the developing world.

A Shared History

The African and Caribbean continents share a profound history shaped by the brutal Trans-Atlantic slave trade, colonial abuses, and the anti-colonial struggle. These shared experiences have fostered deep cultural bonds between the peoples of both continents.

Missouri Sherman-Peter, Ambassador and Permanent Observer of CARICOM to the UN, notes that “as many as 20 million Africans were enslaved in the

The potential for enhancing trade, investment, and economic cooperation between Africa and CARICOM is significant. Historically, formal cooperation has occurred through various channels, notably the Organisation of African, Caribbean and Pacific States (OACPS)

Western Hemisphere, with the Middle Passage consuming about 20% of its human cargo. Disease and death were common outcomes of this tragic human experience.” Sherman-Peter adds that the demographic impact of the slave trade and slavery is well-documented, thanks in large part to nearly three decades of scientific and historical research spearheaded by UNESCO and initiatives like the UN’s Outreach Programme on the Transatlantic Slave Trade and Slavery.

Approximately 40% of enslaved Africans were sent to the Caribbean, which, by the 17th century, had surpassed Portuguese Brazil as the primary market for enslaved labor. The sugar plantations, predominantly owned by English, French, Dutch, Spanish, and Danish colonists, consumed black lives as rapidly as they were imported.

In early August 2024, Barbados witnessed a significant moment when Prof. Benedict Oramah, Chairman of the African Export-Import Bank (Afreximbank), joined other dignitaries from Africa and the Caribbean to inaugurate Afreximbank’s CARICOM office.

At the opening, Prime Minister Mia Amor Mottley of Barbados remarked, “This is not only a historic moment but also a strategic move that will benefit our regional private sector and state-owned corporations. We now have access to a bank that is empathetic and willing to take risks to help our people advance to the next level.”

This event symbolized the African Union’s recognition of the African diaspora as Africa’s sixth region, alongside the continent’s other five regions: West, East, North, South, and Central Africa.

The Afreximbank CARICOM Office will support the partnership between Afreximbank and CARICOM member states, aimed at boosting Africa-

Caribbean trade and investment relations.

Trading Potentials

The potential for enhancing trade, investment, and economic cooperation between Africa and CARICOM is significant. Historically, formal cooperation has occurred through various channels, notably the Organisation of African, Caribbean and Pacific States (OACPS).

In late 2022, Afreximbank approved a US$1.5 billion fund to assist CARICOM member states in utilizing the bank’s financial instruments. By July 2023, 11 out of 15 CARICOM member states had joined this partnership with Afreximbank, which is particularly focused on supporting small and medium enterprises. The bank also plans to increase its credit limit to US$3 billion.

The International Trade Centre (ITC), a joint agency of the World Trade Organization and the UN, has conducted extensive research on the Africa-Caribbean trade landscape. In 2020, the research revealed that nearly 70% of Africa’s exports to the Caribbean are primary minerals (US$692 million), while more than 40% of Caribbean exports to Africa are chemicals (US$203 million). Northern and Southern African countries maintain closer trade links with the Caribbean compared to other African regions. Trinidad and Tobago and The Bahamas together account for nearly 70% of the Caribbean’s exports to Africa.

Both regions could realize much of their untapped potential by addressing trade barriers such as informational or regulatory bottlenecks and challenges in transport and logistics. Full implementation of the African Continental Free Trade Area (AfCFTA) agreement would significantly address these obstacles in Africa.

The remaining potential, linked to economic and population growth and anticipated tariff changes, requires investment.

The Afrex Annual Meeting and the Africa-Caribbean Trade and Investment Forum, held in June 2024 in Nassau, The Bahamas, under the theme “Owning Our Destiny: Economic Prosperity on the Platform of Global Africa,” focused on solutions to challenges affecting African-Caribbean economies, policies for growth, and accelerating intraAfrican trade and investment, including with the diaspora.

Among the prominent speakers were Ghanaian President Nana Addo Dankwa Akufo-Addo, Prime Minister Philip Davis of The Bahamas, Prime Minister Mia Mottley of Barbados, and President Mohamed Irfaan Ali of Guyana. The meeting also featured African and CARICOM Heads of State, government ministers, high-profile speakers, Central Bank Governors, CEOs, industry leaders, trade practitioners, finance experts, academics, senior public figures, and celebrities.

One promising sector for growth in both regions is the automobile industry. Earlier this year, Afreximbank and the UN’s Economic Commission for

Africa (UNECA) signed a framework agreement with the DRC and Zambia to establish Special Economic Zones (SEZ) for Battery Electric Vehicle (BEV) component production and related services. The DRC contributes approximately 70% of the global cobalt supply and 88% of cobalt exports, while both countries collectively account for 11% of global copper supply.

This agreement paves the way for Middle Africa—where automotive industries are currently concentrated in North and South Africa—and the Caribbean to develop indigenous auto industries. It also supports the development of Caribbean ports and infrastructure to create electric vehicle manufacturing hubs for export to North, Latin, and South America.

The two institutions will lead the establishment of an Operating Company (OpCo) in a consortium with public and private investors from the DRC and Zambia, as well as international investors, including Afreximbank’s impact fund subsidiary, the Fund for Export Development in Africa (FEDA). Mining remains a critical sector for both regions, given its role in supplying essential metals for BEVs.

The

Afrex Annual Meeting and the Africa-Caribbean Trade and Investment Forum, held in June 2024 in Nassau, The Bahamas, focused on solutions to challenges affecting African-Caribbean economies, policies for growth, and accelerating intraAfrican trade and investment, including with the diaspora

SOUTHERN KADUNA’S GAMBLE: CAN SENATOR KATUNG DELIVER LASTING CHANGE?

In this exclusive interview, we sit down with Senator Barr. Sunday Marshall Katung, a key figure representing Kaduna South Senatorial District. With a background in law and public enterprise restructuring, Katung has been at the forefront of critical legislative initiatives. His work spans from judicial reforms to addressing economic challenges in a politically complex and ethnically diverse region. Southern Kaduna’s Gamble: Can Senator Katung Deliver Lasting Change? This question looms large as his vision for change, particularly in education and agriculture, reveals a deeper strategy that might redefine the region’s future.

As we explore his plans, readers will gain insight into the challenges facing his constituency and the broader implications for Nigeria’s evolving political landscape. What drives his relentless pursuit of these reforms, and what long-term impacts does he foresee for his district and beyond? Katung’s answers may shed light on not only his legislative agenda but also the unspoken challenges within the political fabric of the nation.

Excerpt

Honourable Senator, With your strong background in law and governance, what is your vision for judicial and legislative reforms in Kaduna State and Nigeria at large?

I envision a judicial reform at both state and federal levels that would strengthen the justice sector. By this, I mean enhancing accountability, rooting out obstacles preventing equal access to justice for all, improving transparency and efficiency in administering justice, and upholding the rule of law for everyone. I longed to see a judicial system where the common man and the elite would go, and the system would treat them equally, fairly, and promptly. With this in place, we will have a legal system where justice can’t be delayed and subsequently be interpreted as denied. However, things will stagnate unless something is done, especially regarding corruption within the legal system and the often-mentioned backlog of cases.

Your leadership has been noted for its progressive stance on community empowerment. What specific programs are you implementing to support youth and women in Kaduna South?

Looking at my constituency, you will find that it comprises rural local governments. So, to make an impact, one needs to understand the peculiarities of their needs in relation to their environments, and community empowerment became one of the best options to enable them to take control of their lives. So, I initiated activities involving financial inclusion, job creation, resource ownership, market accessibility, and skills training. These resulted in constructing and equipping ICT training centres in Kafanchan, Jema’a local government, and Damakasuwa in Kauru local government.

Seven secondary school technology clubs were equipped with

I envision a judicial reform at both state and federal levels that would strengthen the justice sector. By this, I mean enhancing accountability, rooting out obstacles preventing equal access to justice for all, improving transparency and efficiency in administering justice, and upholding the rule of law for everyone

computers and the Internet to help our students understand the ICT world more.

economic policies, particularly as they affect the Southern Kaduna region?

Over 400 students from the eight local governments making up my district, studying in different tertiary institutions, have benefitted from my scholarship. A separate scholarship was also made available to 174 people living with disabilities, and there were 348 students whose JAMB and SSCE fees were paid

There was also capacity-building training for farmers on agricultural development, comprising new and affordable farming methods. This was rounded up with the provision of takeup grants, and two months ago, 5000 bags of fertiliser were distributed to some farmers.

Skills acquisition training for 100 youths was also conducted in partnership with the Industrial Training Fund.

Over 400 students from the eight local governments making up my district, studying in different tertiary institutions, have benefitted from my scholarship. A separate scholarship was also made available to 174 people living with disabilities, and there were 348 students whose JAMB and SSCE fees were paid. These and several other initiatives are geared toward economic empowerment, with women and the youth as our main targets.

Given your expertise in public enterprise restructuring, what is your perspective on Nigeria’s current

First, every economic policy should target poverty reduction, the growth of the economy, and the reduction of inflation. I have seen the government trying to achieve these. Still, one key area under the government’s economic initiative that requires urgent concentration is providing social welfare protection to the poor and vulnerable. As I said earlier, my constituency is a rural senatorial district, and providing social protection would create a beneficial ripple effect. This social protection is most needed now, given the economic adjustment through subsidy removal that has increased the pump price of Premium Motor Spirit, which has affected the purchasing power of most people. Yes, the ongoing federal government conditional cash transfer initiative targeting 15 million vulnerable households is good. Still, more needs to be done to reach the number of people that would significantly impact the country’s poor and vulnerable.

As a former Commissioner for Water Resources and Finance in Kaduna State, how has your experience in governance influenced your approach as a senator?

It has given me institutional experience in administration, especially in understanding the peculiarities of people’s needs. This has helped me easily navigate the legislative process to represent my people’s needs in the most beneficial areas. Also, I have a deeper understanding of grassroots issues, and that’s why you see me constantly travelling to my constituents to sit, talk, and interact with them.

In 2024, you pledged 43 key projects for Southern Kaduna. What are your top priorities, and how will these projects impact the lives of your constituents?

Education, empowerment, and agriculture hold the most significant potential to drive growth and improve the way of life for my constituents. I am particular about education because it has helped my people achieve their goals and aspirations in the past. That’s why I have been investing in their education through scholarships even before becoming a senator, and the proposed University of Applied Sciences in Manchok is about to become a reality, having gone through the first and second readings and a public hearing.

We are also not relenting in our economic empowerment drive, which is being undertaken alongside agriculture, which has been the mainstay of our people. What I am doing now is partnering with credible institutions to teach them newer and more profitable farming methods.

Kaduna South is known for its ethnic and religious diversity. How are you working to unify these groups and foster sustainable development?

I am treating everyone equally and fairly and also urging them to see and accept each other as one, irrespective of our religious or political differences. It’s only through this unity that we can make progress.

In the 2023 elections, you won by a significant margin. What do you believe resonated with the voters, and how do you plan to maintain their trust?

They wanted another way of doing things. The previous occupant of the office did his best, but the people wanted more to be done differently. That was what I promised them during the elections, and to maintain their trust, I am giving them the inclusive representation that they have craved. I am giving them visibility, responsiveness, and upholding their identity within the country.

What are your long-term goals for Kaduna South, and how do you envision leaving a lasting legacy of development and peace during your tenure?

I want to see a prosperous and peaceful Kaduna South senatorial district where everyone has the opportunity for more self-growth. That’s why I am concentrating on education, economic empowerment, and agricultural intervention, among other things. These would help create a legacy that newer generations will reap.

Education, empowerment, and agriculture hold the most significant potential to drive growth and improve the way of life for my constituents. I am particular about education because it has helped my people achieve their goals and aspirations in the past

In times of political transition and reform, leadership becomes critical, and the legacy of those who serve becomes a lasting part of history. The interview with Senator Barrister Sunday Marshall Katung, representing the Kaduna South Senatorial District in Nigeria, offers a compelling look into his vision for judicial reform, community empowerment, and economic development. More importantly, it provides a broader reflection on leadership—drawing inspiration from figures like Winston Churchill, Abraham Lincoln, Andrew Jackson, and Ronald Reagan—leaders who shaped their nations through vision and determination.

Judicial Reform and the Rule of Law: Echoes of Lincoln and Jackson

At the core of Senator Katung’s vision is a call for judicial reform—a sentiment shared by leaders throughout history who understood the importance of justice in democracy. Katung envisions a system that delivers justice equally to all citizens, eliminating delays that often deny justice. His views recall Abraham Lincoln’s belief that “a house divided against itself cannot stand,” emphasising that the law must be applied equally, regardless of social status.

Lincoln’s commitment to upholding the Constitution during the Civil War solidified his legacy as a reformer, much like Andrew Jackson, who sought to democratise the American legal system. Jackson’s fight against corruption mirrors Katung’s efforts to eliminate inefficiencies in Nigeria’s judiciary. Both leaders understood that a functioning legal system is essential for true democracy.

Empowering Communities: Lessons from Reagan and Churchill

One of the most striking aspects of Senator Katung’s leadership is his focus on community empowerment, particularly for youth and women. His work, including financial inclusion programs and ICT training centres, reflects a belief in grassroots development, much like Ronald Reagan’s focus on individual empowerment. Reagan’s assertion that “the best social program is a job” aligns with Katung’s efforts to help his constituents

escape poverty through education, skills training, and entrepreneurship.

Similarly, Winston Churchill’s leadership during World War II showed that empowering people in times of crisis can lead to extraordinary achievements. Katung’s initiatives, which focus on empowering ordinary citizens, especially in rural areas, are designed to give people the tools to improve their own lives.

Economic Policy and Rural Development: Insights from Lincoln and Reagan

Senator Katung understands the economic challenges facing Southern Kaduna, especially in rural areas. His approach emphasises poverty alleviation and social protection—critical as his district grapples with rising fuel prices and subsidy removal. Like Lincoln, who came from a rural background and supported policies such as the Homestead Act, Katung is committed to agricultural reform and rural development as key drivers of national progress.

Ronald Reagan’s economic policies also provide insight into Katung’s vision. Although Reagan favoured free-market economics, he recognised the need for government interventions to spur growth. Katung’s support for affordable farming methods and grants reflects a similar belief in individual empowerment as a path to economic growth.

Uniting Diverse Communities: The Churchillian Legacy

One of the greatest challenges Senator Katung faces is fostering unity in a region known for its ethnic and religious diversity. His focus on treating all people fairly and promoting unity as the foundation for development is reminiscent of Winston Churchill’s leadership during World War II, when he rallied a divided nation.

Similarly, Abraham Lincoln’s efforts to preserve the Union during the Civil War serve as an example for Katung’s mission to unite the communities of Southern Kaduna. By promoting equality and inclusion, Katung

aims to build a more peaceful and cohesive society.

Inclusive Representation and Building Trust: Resonance with Jackson and Reagan

Senator Katung’s electoral success highlights his ability to connect with his constituents. His focus on inclusivity and visibility mirrors Andrew Jackson’s belief in representing the common people. Like Jackson, Katung travels frequently to engage directly with his constituents, ensuring their voices are heard.

Ronald Reagan’s emphasis on trust and transparency is also reflected in Katung’s leadership. Reagan, known as “The Great Communicator,” built trust by being responsive to the American people. Katung similarly emphasises the importance of maintaining his

constituents’ trust by addressing their needs.

A Legacy of Development and Peace

As Senator Katung works toward a lasting legacy of development and peace, his priorities—education, economic empowerment, and agricultural reform—mirror the legacies of Lincoln, Churchill, Jackson, and Reagan. These leaders created lasting change through policies that uplifted individuals and united nations.

Senator Katung’s vision for Kaduna South reflects the timeless leadership of history’s greatest reformers. By focussing on justice, empowerment, and unity, he is laying the foundation for future generations to thrive. Like the leaders before him, his vision is hopefully expected to shape the future of his community and country.

Senator Katung’s vision for Kaduna South reflects the timeless leadership of history’s greatest reformers. By focussing on justice, empowerment, and unity, he is laying the foundation for future generations to thrive. Like the leaders before him, his vision is hopefully expected to shape the future of his community and country

Fighting Extreme Poverty in Africa

By Stephen Williams

To unlock Africa’s true potential, eradicating extreme poverty is essential. The United Nations’ Sustainable Development Goals (SDGs) prioritise “eradicating extreme poverty for all people everywhere,” marking it as a cornerstone of the global post-2015 development agenda.

For too long, Africa has been synonymous with poverty, despite the continent’s rich human and natural resources. According to the World Bank, extreme poverty is defined as living on less than $2.15 per day, the International Poverty Line (IPL). Around 648 million people, or 8% of the global population, currently live in extreme poverty.

Africa’s poverty eradication agenda emphasises wealth creation, prosperity, and reducing inequality. These objectives can be achieved through growth that is both substantial and inclusive. The African Development Bank’s (AfDB) report, Eliminating Extreme Poverty in Africa: Trends, Policies, and the Role of International Organisations, highlights that while global poverty rates have been declining since the 1950s, sub-Saharan Africa (SSA) only began making significant progress in the mid-1990s. Between 1999 and 2010, the region reduced extreme poverty by 10%, largely due to accelerated growth.

However, the COVID-19 pandemic significantly impacted economic growth, and recent conflicts have further hindered progress. Geopolitical tensions and regional conflicts continue to disrupt global supply chains, particularly in industries dependent on international trade. Key shortages, such as semiconductors and raw materials, have slowed manufacturing and affected economies across Africa, particularly those reliant on industrial production and commodity exports.

In 2010, the World Bank’s household survey showed that nearly half of SSA’s population (48%) remained impoverished, accounting for 30% of the global poor.

This rate was more than double that of South Asia, the world’s second poorest region. Significant poverty differences persist across subgroups and countries in Africa. For instance, while frontier markets like Zambia and Tanzania continue to struggle with high poverty rates, middle-income countries such as Cape Verde and the Seychelles have nearly eliminated it.

The Poverty Lines

The World Bank tracks global poverty using two additional poverty lines for monitoring as countries’ living standards improve. These thresholds, typically applied in lower-middle-income countries (LMICs) and upper-middle-income countries (UMICs), are set at $3.65 and $6.85 per day, respectively. The lines were updated following the release of new purchasing power parity (PPP) data, which enables currency conversion into a common unit while accounting for price differences between countries.

By 2019, many more people lived in poverty under these higher thresholds compared to the extreme poverty line. Almost a quarter of the global population (23%) lived below the $3.65 threshold, and nearly half (47%) lived below the $6.85 line. This underscores that global median income, at $7.60 per day, is closely aligned with the UMIC line.

While the different poverty measures capture similar well-being levels, the estimates vary greatly as poverty lines increase. At the UMIC level, global poverty rates are six times higher than at the extreme poverty line.

The World Bank Approach

In 2013, the World Bank set two interlinked goals: to end extreme poverty by 2030 and promote shared prosperity globally. The target was to reduce the global population living in extreme poverty to less than 3% and to boost income growth for the poorest 40% in every society.

23%

Unfortunately, the goal of eradicating poverty by 2030, which gained widespread support from international organisations, was overly optimistic. The anticipated accelerated growth failed to materialise, and the equitable distribution of wealth—necessary to lift the poorest out of poverty— remains elusive.

World Bank President David Malpass acknowledged this, noting that “progress in reducing extreme poverty has essentially halted in tandem with subdued global economic growth. Inflation, currency depreciations, and other crises are eroding shared prosperity, leading to a grim outlook for billions worldwide.”

To unlock Africa’s true potential, eradicating extreme poverty is essential. The United Nations’ Sustainable Development Goals (SDGs) prioritise eradicating extreme poverty for all people everywhere, marking it as a cornerstone of the global post-2015 development agenda

Global population lived below the $3.65 threshold as at 2019

Policymakers are also attracting investments in key sectors like agribusiness and green growth to enhance private sector engagement and bolster value chains

Malpass emphasised that macroeconomic policy adjustments are necessary to stabilize currencies, reduce inflation, and reignite median income growth. Without such changes, global growth will continue to slow, interest rates will rise, and developing nations will remain fragile.

Africa’s Challenge

To reduce poverty, Africa requires inclusive growth that ensures the poorest benefit. However, SSA faces high inequality and an over-reliance on natural resources and agriculture. Extreme poverty persists in regions where it is most challenging to eliminate—sub-Saharan Africa, conflict zones, and remote rural areas.

Sub-Saharan Africa now accounts for 60% of the world’s extreme poor—389 million people, with a regional poverty rate of 35%, the highest globally.

In response, African nations are implementing strategies to promote resilience and sustainable growth. The African Continental Free Trade Area (AfCFTA) seeks to boost intraAfrican trade, reducing reliance on global markets and fostering regional economic integration.

Additionally, innovative financing models such as blended finance, public-private partnerships, and diaspora bonds are helping to bridge the development finance gap. Policymakers are also attracting investments in key sectors like agribusiness and green growth to enhance private sector engagement and bolster value chains.

Ultimately, African leaders face the challenge of designing policies that can accelerate growth while making it more inclusive and sustainable in the long term.

BALANCING STABILITY AND GROWTH: A Global Perspective on Dr. Greenidge’s Central Banking Approach

This analysis stems from an exclusive interview conducted by our editorial team with Dr. Kevin Greenidge, Governor of the Central Bank of Barbados. His insights into financial leadership, policy development, and economic stability are explored to understand how Barbados is navigating global financial trends while balancing national priorities. We examine Dr. Greenidge’s extensive experience in regional and international economic institutions, demonstrating how it has shaped his approach to governance with a focus on fiscal responsibility and sustainable growth.

In this piece, we compare Dr. Greenidge’s reflections with those of four distinguished global financial leaders: Ana Botín, Executive Chair of Banco Santander; Jamie Dimon, CEO of JPMorgan Chase; Tarek Amer, Governor of the Central Bank of Egypt; and Ravi Menon, Managing Director of the Monetary Authority of Singapore (MAS). By drawing parallels between their strategies and Dr. Greenidge’s vision, we explore the shared principles guiding central banking and economic stewardship in today’s interconnected world.

Embracing Leadership Through Experience

Dr. Kevin Greenidge’s leadership at the Central Bank of Barbados is informed by a career that spans international organizations, including the International Monetary Fund (IMF), and key roles within the Barbadian government. His perspective on navigating complex economic environments mirrors the leadership approaches of other global financial figures.

Ana Botín, who leads Banco Santander, emphasizes the importance of experience and adaptability in her leadership. She attributes her success to working across different regions and economic climates, enabling her to anticipate and react to global financial challenges. Like Greenidge, Botín leverages her experience to position her institution as a global leader in banking while fostering financial inclusivity.

Jamie Dimon’s long tenure as CEO of JPMorgan Chase similarly highlights the value of diverse experiences. He steered the bank through the global financial crisis and continues to focus on adapting to new economic realities. His extensive financial experience allows him to guide JPMorgan Chase’s global operations with a broad understanding of markets, similar to how Greenidge’s international and regional roles have shaped his policy decisions.

Addressing Challenges with Opportunity

Dr. Greenidge’s philosophy of viewing challenges as opportunities is closely aligned with Tarek Amer’s approach at the Central Bank of Egypt. Amer led Egypt through significant economic reforms, stabilizing the economy despite challenges such as the devaluation of the Egyptian pound. He views adversity as an opportunity to

Dr. Kevin Greenidge’s leadership at the Central Bank of Barbados is informed by a career that spans international organizations, including the International Monetary Fund (IMF), and key roles within the Barbadian government. His perspective on navigating complex economic environments mirrors the leadership approaches of other global financial figures

A significant part of Dr. Greenidge’s legacy at the Central Bank of Barbados involves modernizing the national payment system and enhancing financial inclusivity. This mirrors efforts by global financial leaders

implement structural reforms with longterm benefits, paralleling Greenidge’s transformation of internal bank culture and his emphasis on staff well-being to boost institutional performance.

Similarly, Ravi Menon of the Monetary Authority of Singapore focuses on positioning Singapore as a global financial hub. Menon sees challenges as opportunities for growth, particularly in digitalization and green finance. His leadership in modernizing Singapore’s regulatory framework to embrace fintech and sustainable finance initiatives echoes Greenidge’s efforts to modernize Barbados’ national payment systems.

Financial Stability and Economic Development

Central to Dr. Greenidge’s leadership is his belief that financial stability and economic development must work hand in hand. This perspective is shared by the global leaders we analyze here. For example, Ana Botín advocates for responsible banking practices that promote stability while fostering growth. Under her leadership, Banco Santander has advanced initiatives promoting financial inclusivity and sustainable development, with a particular focus on supporting small and medium enterprises (SMEs) and sustainable energy projects.

Jamie Dimon also underscores the importance of balancing financial stability with economic growth. His emphasis on prudent risk management at JPMorgan Chase, coupled with investments in technology and digital transformation, has been integral to the bank’s growth strategy. Like Greenidge, Dimon prioritizes financial resilience to protect the institution from global uncertainties while encouraging innovation and improved customer service.

Ravi Menon’s approach at MAS similarly emphasizes long-term stability. Menon has championed policies that foster stability while positioning Singapore as a leader in sustainable finance. Like Greenidge, Menon balances financial stability with economic development by promoting green bonds and climate-risk assessments for financial institutions, helping Singapore meet its sustainability goals.

Modernizing Financial Infrastructure and Promoting Inclusivity

A significant part of Dr. Greenidge’s legacy at the Central Bank of Barbados involves modernizing the national payment system and enhancing financial inclusivity. This mirrors efforts by global financial leaders. Ravi Menon has driven MAS’s agenda to modernize Singapore’s financial system, fostering

innovation through fintech while maintaining regulatory oversight. Similarly, Greenidge’s introduction of an e-KYC framework in Barbados mirrors Menon’s push for digital identity verification systems that enhance inclusivity while ensuring security.

Ana Botín’s Banco Santander has also made significant strides in digitizing financial services to reach underserved communities. By developing accessible digital banking products, Santander has improved financial inclusion across multiple regions, aligning with Greenidge’s efforts to introduce no-fee accounts and electronic transfers in Barbados.

In Egypt, Tarek Amer has pursued similar goals of modernization and inclusion. His leadership at the Central

Bank of Egypt has expanded access to banking services and fostered the growth of digital payments. Amer’s focus on financial inclusion through digital innovation underscores the global trend of central banks modernizing their financial infrastructures for greater reach and efficiency.

The Role of Green Finance and Sustainability

A key priority for Dr. Greenidge is aligning Barbados’ financial policies with the country’s goal of achieving net-zero carbon emissions by 2035. This focus on sustainability resonates with initiatives championed by Ravi Menon at MAS and Ana Botín at Banco Santander. Menon has been a leading advocate for green finance, urging financial institutions to integrate environmental, social, and governance (ESG) factors into their operations. Singapore has become a key player in green bonds and sustainable investments under his leadership, promoting a resilient financial system aligned with global sustainability goals.

Ana Botín has similarly integrated ESG criteria into Banco Santander’s strategy, emphasizing that sustainable banking is not only a moral imperative but also a business opportunity. Her leadership has positioned Santander as a leader in green finance, with significant investments in renewable energy and sustainable projects. This aligns with Greenidge’s climate-risk stress testing for banks in Barbados and his promotion of green investments as part of a broader economic strategy.

Building Public Confidence through Transparency and Engagement

Dr. Greenidge’s commitment to public communication and transparency is evident in his quarterly economic press conferences, reflecting a broader trend among central bank leaders.

Dr. Greenidge’s commitment to public communication and transparency is evident in his quarterly economic press conferences, reflecting a broader trend among central bank leaders

Transparency and open communication are essential for maintaining public confidence in financial institutions. Jamie Dimon frequently stresses the importance of transparent communication with investors and the public, fostering trust in JPMorgan Chase. His candid approach to discussing the bank’s performance has been a hallmark of his leadership, maintaining investor confidence through various economic cycles.

Similarly, Tarek Amer has used public communication to bolster confidence in Egypt’s economic reforms. His clear articulation of the country’s monetary policies has helped secure public support for the tough measures needed to stabilize Egypt’s economy. This is comparable to Greenidge’s efforts to enhance public understanding of economic principles, empowering Barbadians to make informed financial decisions.

Leadership and Legacy

The leadership styles of Dr. Kevin Greenidge, Ana Botín, Jamie Dimon, Tarek Amer, and Ravi Menon share common themes: a commitment to excellence, innovation, and inclusivity. Each leader has drawn on extensive experience to guide their institutions through uncertainty while laying the groundwork for future stability and growth.

For Dr. Greenidge, his legacy will be one of modernizing the Central Bank of Barbados, promoting financial inclusivity, and fostering sustainable economic practices. His leadership reflects a holistic approach to economic development—one that prioritizes both financial stability and the well-being of the population.

Ana Botín’s legacy at Banco Santander will likely be defined by her advocacy for responsible banking and sustainability. Through her leadership, she has redefined the role of a global bank in

driving financial inclusion and green finance initiatives.

Jamie Dimon’s tenure at JPMorgan Chase will be remembered for his ability to adapt the bank to new economic realities while focusing on risk management and innovation. His leadership has ensured that JPMorgan Chase remains a global financial powerhouse.

Tarek Amer’s legacy at the Central Bank of Egypt will be his resilience in steering the country through economic reforms and his commitment to financial inclusion through modernization.

Ravi Menon’s forward-thinking leadership at MAS will position Singapore as a global financial hub, emphasizing innovation, sustainability, and inclusivity.

In conclusion, the perspectives of these global financial leaders highlight the importance of adaptability, innovation, and inclusivity in today’s complex economic environment. Dr. Kevin Greenidge’s approach at the Central Bank of Barbados aligns with broader global trends championed by Ana Botín, Jamie Dimon, Tarek Amer, and Ravi Menon. Together, they demonstrate how financial institutions can promote stability, foster growth, and address future challenges while ensuring their impact is both inclusive and sustainable.

In conclusion, the perspectives of these global financial leaders highlight the importance of adaptability, innovation, and inclusivity in today’s complex economic environment.

STEPHEN L. HIGHTOWER’S VISION FOR GLOBAL ENERGY SOLUTIONS

Stephen L. Hightower, President and CEO of Hightowers Petroleum Co. (HPC), has masterfully navigated the complexities of the global energy industry, securing his company’s place as a key player. Over the past five years, HPC has executed over $1.7 billion in energy solutions, demonstrating its capacity to deliver across the entire value chain—from petroleum supply to comprehensive energy management.

Founded in 1979, HPC has evolved from a regional fuel distributor in Ohio to an international energy solutions provider. This transformation reflects Hightower’s ability to adapt and thrive in an industry characterised by rapid change and intense competition. Under his leadership, HPC has expanded its geographic footprint and diversified its services to include upstream markets, crude oil delivery, and global LNG marketing.

Hightower’s strategic expansion into international markets, with offices now in South Africa and Rome, positions HPC as a global entity capable of navigating complex supply chains across Europe, Asia, and Central America. This global reach is complemented by a robust portfolio of blue-chip clients, including Duke Energy, General Motors, FedEx, and Ford Motor Company.

As President and Chairman of HP Energy, Hightower has pushed the boundaries of traditional energy solutions by focussing on sustainable technologies. HP Energy’s development of combined heat and power (CHP) systems, hydrogen fuel cells, and solar applications exemplifies a forward-looking approach that aligns with global trends towards clean energy. Particularly noteworthy is his involvement in waste-to-energy projects in Sub-Saharan Africa, where HPC is actively contributing to the region’s energy transition.

Hightower’s strategic expansion into international markets, with offices now in South Africa and Rome, positions HPC as a global entity capable of navigating complex supply chains across Europe, Asia, and Central America

Hightower’s expertise extends beyond business operations; he possesses a deep understanding of the regulatory landscape—a crucial asset in the energy sector. His ability to navigate governmental approvals and manage complex regulatory frameworks has been instrumental in HPC’s sustained growth. His appointments by Presidents Barack Obama and Donald Trump to the National Park Foundation and the National Petroleum Council highlight his influence in shaping national energy policies

. Beyond HPC’s operations, Hightower’s involvement in initiatives like Power Africa demonstrates his commitment to expanding electrification across Africa. His participation in trade missions to Ghana, Nigeria, South Africa, and Mozambique with the U.S. Departments of Commerce and Transportation underscores his dedication to fostering

international energy partnerships.

Hightower’s contributions have earned him numerous accolades, including the National Minority Supplier Development Council’s (NMSDC) MBE of the Year and Black Enterprise Magazine’s Industrial/ Service Company of the Year in 2019. These awards highlight his impact as a business leader and a trailblazer in promoting diversity and inclusion within the energy sector.

As the energy landscape continues to evolve, Stephen L. Hightower’s strategic foresight and commitment to innovation will undoubtedly keep HPC at the forefront of the industry. His ability to blend traditional energy solutions with cutting-edge technologies positions Hightowers Petroleum Co. to meet the global energy needs of today and the challenges of tomorrow.

Hightower’s expertise extends beyond business operations; he possesses a deep understanding of the regulatory landscape—a crucial asset in the energy sector. His ability to navigate governmental approvals and manage complex regulatory frameworks has been instrumental in HPC’s sustained growth

Lupisaly Roman’sJermalili Vision in GlobalEngineering Leadership

In South Sudan, the story of transformation is often told through the lens of resilience, innovation, and leadership. At the forefront of this change is Mr. Lupisaly Jermalili Roman, Chief Operating Officer of Lilico Engineering Services, who is pioneering infrastructure development with a focus on community impact, modernization, and growth. From leading projects that redefine standards in engineering to empowering local communities, Roman’s leadership is emblematic of a new era for South Sudan.

Roman’s work in South Sudan echoes the sentiments of global leaders in engineering, whose innovative approaches and dedication to advancing the field have shaped industries around the world. In this article, we align Mr. Roman’s insights with those of four leading engineers: Elon Musk, CEO and Chief Engineer of SpaceX; Dr. Aisha WalcottBryant, AI and Robotics Engineer; Dr. James Mwangi, Chairman of Equity Group Holdings; and Dr. John Hennessy, Chairman of Alphabet and Computer Science Pioneer. Together, they form a collective voice on the power of engineering to change the world, blending traditional expertise with cuttingedge technologies and a commitment to community impact.

Infrastructure with a Purpose

Under Mr. Roman’s leadership, Lilico Engineering Services has become synonymous with innovation in South Sudan’s engineering landscape. His most impactful project, the South Sudan Mining Journal, showcases his forwardthinking approach. This online platform has revolutionized awareness in the mining and energy sectors by providing reliable and upto-date information, thereby attracting both local and international investments.

Roman’s decision to diversify Lilico’s portfolio, encompassing civil engineering, mining, and metals, was driven by his experiences and education abroad. He emphasized the importance of adapting engineering principles to local challenges, such as the need for innovative solutions to infrastructure problems in a region with varying elevations and difficult terrain.

These insights align with Dr. John Hennessy’s perspective on the importance of tailoring engineering solutions to local contexts. Hennessy, a computer science pioneer, advocates for the integration of local knowledge with global technologies. He emphasizes, “Engineering innovation is most effective when it respects the unique challenges and opportunities of the environment in which it is implemented. By adapting global technologies to local needs, we can create solutions that are both sustainable and impactful.”

Hennessy’s words resonate with Roman’s focus on blending traditional approaches with new technologies. By leveraging GIS and remote sensing to address telecommunication challenges in Juba, Lilico demonstrates how adapting global engineering practices to local contexts can yield significant benefits.

A Leadership Strategy Rooted in Inclusivity

At the core of Roman’s leadership is the ability to harness the strengths of both the older and younger generations. He acknowledges that while the older generation possesses experience and wisdom, the younger generation brings innovation and creativity. By bridging this gap, Lilico has managed to stay at the cutting edge of innovation while upholding high standards of execution.

Roman’s emphasis on innovation as a key pillar of Lilico’s success has positioned the company as a leader in engineering services in South Sudan. By adopting cutting-edge technologies and integrating them with traditional expertise, Lilico has been able to solve complex problems efficiently

This philosophy of inclusivity in leadership is echoed by Dr. Aisha Walcott-Bryant, an AI and robotics engineer who has been a champion of diversity in the tech industry. Walcott-Bryant argues, “The future of engineering relies on the collaboration of diverse perspectives. By bringing together people from different backgrounds and generations, we create a richer environment for innovation and problem-solving.”

Roman’s strategy of breaking down complex projects into manageable units also reflects Walcott-Bryant’s approach to tackling challenges in AI and robotics. Walcott-Bryant believes in incremental progress, where smaller successes build toward larger achievements. This method has allowed her to navigate the rapidly evolving field of AI, just as Roman has successfully led projects in the volatile environment of South Sudan.

In both cases, the focus on inclusivity and adaptability creates a dynamic work environment that fosters growth, learning, and innovation. Roman’s leadership style, which empowers both experienced and emerging engineers, exemplifies the future of engineering leadership in challenging environments.

Innovation as a Pillar of Growth

Roman’s emphasis on innovation as a key pillar of Lilico’s success has positioned the company as a leader in engineering services in South Sudan. By adopting cutting-edge technologies and integrating them with traditional expertise, Lilico has been able to solve complex problems efficiently. For instance, using GIS and remote sensing to map out the city of Juba has improved telecommunication infrastructure and provided more accurate data for decision-making.

This focus on innovation mirrors the approach taken by Elon Musk, CEO and Chief Engineer of SpaceX. Musk’s philosophy is to embrace risk and

innovation to drive progress, particularly in fields that have traditionally been slow to change. “You have to be willing to take bold steps and innovate in areas where others are reluctant,” Musk has stated. “By doing so, you open up new possibilities and redefine what’s possible.”

Roman’s willingness to push the boundaries of what is possible in South Sudan’s engineering sector aligns with Musk’s belief in the power of innovation to transform industries. Both leaders understand that innovation is not just about adopting new technologies but about challenging existing paradigms and finding creative solutions to difficult problems.

Community Impact

Community impact is at the heart of Lilico’s mission. Roman’s projects not only contribute to the region’s growth but also enhance the lives of local communities. By prioritizing the employment and education of local nationals, Lilico ensures that the benefits of its projects extend beyond infrastructure development. This commitment to community empowerment is reflected in the scholarships Lilico provides to students, as well as the knowledge transfer initiatives that help locals build careers in engineering.

Dr. James Mwangi, Chairman of Equity Group Holdings, shares a similar belief in the power of engineering to uplift communities. Mwangi has been a strong advocate for using technology and engineering to drive economic development in Africa. “Our goal as engineers and leaders is to create lasting change in the communities we serve,” Mwangi has said. “By investing in education and skill development, we can empower individuals to build their futures and contribute to the growth of their societies.”

Roman’s dedication to education and community impact is a testament to his belief in the transformative power of engineering. By equipping local nationals with the skills they need to succeed in the field, he is creating a sustainable future for South Sudan.

Advice for Young Engineers

As a leader in the engineering sector, Roman offers invaluable advice to young leaders in the industry. He emphasizes the importance of focusing on building a career rather than simply pursuing a job. According to Roman, developing skills and experience over time is crucial for long-term success and fulfillment.

This advice aligns with the wisdom of Dr. John Hennessy, who believes in the importance of perseverance and continuous learning in the field of engineering. “Success in engineering is not achieved overnight,” Hennessy says. “It requires dedication, a willingness to learn, and the ability to adapt to new challenges and technologies.”

Roman’s emphasis on career development over short-term gains reflects the broader

philosophy shared by leaders in the engineering field. By encouraging young engineers to think long-term and prioritize skill development, Roman is helping to shape the next generation of engineering leaders in South Sudan and beyond.

The Significance of Recognition

Mr. Roman’s recent nomination for the African Leadership Awards is not just a recognition of his individual achievements but also a validation of the work done by his entire team. This nomination highlights the positive impact that Lilico has had on South Sudan’s infrastructure and community development.

Roman views this nomination as a source of motivation to continue his work, despite the challenges he faces. “This recognition reaffirms that our efforts are making a difference,” Roman says. “It provides the energy to keep pushing forward, knowing that our contributions are being acknowledged.”

The significance of recognition in the engineering field is also emphasized by Dr. Aisha WalcottBryant, who believes that such accolades help to highlight the importance of innovation and leadership in driving progress. “Recognition not only honors individual achievements but also shines a light on the impact that engineering can have on society,” Walcott-Bryant says.

For Roman, this nomination serves as a reminder of the importance of perseverance and teamwork. It is a testament to the collective efforts of Lilico’s engineers and their commitment to improving the lives of people in South Sudan.

Engineering a Brighter Future for South Sudan

Mr. Lupisaly Jermalili Roman’s leadership at Lilico Engineering Services is a powerful example of how engineering can drive progress and uplift communities, even in the most challenging environments. By aligning his insights with those of global engineering leaders like Elon Musk, Dr. Aisha WalcottBryant, Dr. James Mwangi, and Dr. John Hennessy, we see the universal truths that define success in this field: innovation, inclusivity, community impact, and a commitment to long-term growth.

As Roman continues to lead transformative projects in South Sudan, his work serves as an inspiration to engineers around the world. His dedication to combining traditional expertise with modern technologies, empowering local communities, and fostering the next generation of engineering talent is shaping a brighter future for South Sudan and beyond.

In the words of Roman, “Engineering is more than just building structures; it’s about building lives, creating opportunities, and driving change for future generations.”

Engineering is more than just building structures; it’s about building lives, creating opportunities, and driving change for future generations

As the world moves toward a future where minerals like copper, lithium, and iron ore fuel sustainable energy, nations rich in these resources hold a crucial key to progress. Among them is South Sudan, led by Hon. Martin Gama Abucha, Minister of Mining, whose strategic leadership is transforming the nation’s mineral wealth into a driver for development.

With a diverse background spanning engineering, business management, and consulting, Abucha’s approach mirrors that of leaders like Paul Kagame of Rwanda and Ngozi Okonjo-Iweala of Nigeria. His focus is clear: leverage South Sudan’s resources for sustainable growth while fostering global partnerships.

In an exclusive interview, Hon. Abucha outlined his bold vision for the mining sector, recognising South Sudan’s rich deposits of copper, lithium, and manganese as vital to the global energy transition. “South Sudan holds great potential, particularly with the shift toward renewable energy,” he said, emphasising the importance of maximising these resources for the country’s benefit.

Learning from Global Leaders

Drawing from Kagame’s focus on technology and infrastructure, Abucha prioritises data and technology to elevate South Sudan’s mining capabilities. “Comprehensive geological mapping is essential,” he said. “We need precise knowledge of our mineral deposits to move forward.” His ministry is harnessing satellite imagery and advanced technologies to bring transparency and efficiency to the sector.

Paul

Kagame, President of Rwanda

South Sudan holds great potential, particularly with the shift toward renewable energy, emphasising the importance of maximising these resources for the country’s benefit.

Hon. Martin Gama Abucha, Minister of Mining, South Sudan

Similarly, Abucha channels Ngozi Okonjo-Iweala’s emphasis on local involvement. By ensuring communities are part of the decision-making process, South Sudan aims to avoid the exploitation seen in other resourcerich countries. “Communities play a critical role in mining decisions,” he affirmed, stressing local employment and equitable resource distribution.

Ngozi Okonjo Iweala, DG World Trade Organisation

Cyril Ramaphosa’s advocacy for international partnerships is also central to Abucha’s strategy. “We are active in global mining forums like the Mining Indaba and PDAC,” he said, signalling South Sudan’s openness to international investors and collaborations.

Hon. Martin Gama Abucha has drawn significant inspiration from the leadership of President Salva Kiir Mayardit, the President of South Sudan. Abucha credits President Kiir’s unwavering commitment to national unity and development as a guiding influence in his own approach to the mining sector. Under President Kiir’s leadership, South Sudan has navigated

complex post-conflict challenges, focusing on building a stable foundation for growth. Abucha has learned the importance of patience, resilience, and strategic diplomacy from President Kiir, applying these lessons to his vision for transforming South Sudan’s mineral wealth into a catalyst for sustainable development. By prioritizing long-term national interests and inclusive policies, Abucha seeks to mirror President Kiir’s dedication to uplifting all citizens through South Sudan’s natural resources.

South Sudan has a unique opportunity to set new standards for responsible resource management. By involving local stakeholders and enforcing high environmental standards, the country can emerge as a leader in sustainable mining.

Overcoming Challenges with Vision

Despite hurdles such as limited infrastructure and incomplete geological data, Abucha views these as opportunities for innovation and investment. “Infrastructure is a challenge, but it also presents opportunities for growth,” he said, highlighting the potential for new investments in roads, railways, and energy systems.

South Africa’s President Cyril Ramaphosa and South Sudan’s President Salva Kiir

Balancing Progress with Sustainability

Abucha recognises the challenges inherent in mining, particularly the need to balance resource extraction with environmental conservation. He is committed to ensuring sustainable practices, both during and after mining operations. “We must mine responsibly,” he stated. “Our regulations require land restoration, and the well-being of local communities is paramount.”

South Sudan’s policies are designed to attract foreign investment. “We offer tax incentives and a transparent process for investors,” Abucha explained. His goal is to create a favourable business climate that benefits both international partners and the South Sudanese people.

Global Engagement and Future Partnerships

Looking ahead, Hon. Abucha is focused on expanding South Sudan’s international reach. With the upcoming International Forum on African Caribbean Leadership in New York, he aims to strengthen ties with regions like the Caribbean, bringing attention to South Sudan’s untapped potential.

Picture a young student leader navigating the tumultuous world of youth activism, steadily rising through the ranks of one of Africa’s most powerful political parties. Now, imagine that same individual, decades later, at the helm of Ghana’s National Petroleum Authority, guiding an industry critical to the survival of millions. In this gripping interview, Dr. Abdul-Hamid pulls back the curtain on his extraordinary leadership journey, the unseen challenges of Africa’s energy sector, and the high-stakes decisions shaping the future of an entire continent.

Excerpt

Leadership Journey

Dr. Abdul-Hamid, could you share a bit about your background and what led you to your current role as the CEO of the National Petroleum Authority (NPA) in Ghana?

Leadership has been a part of my life for as long as I can remember. From high school through university, I was often called upon by my peers to lead. I served as Secretary of the Students Representative Council (SRC) at Tamale Senior High School (1988–1989). At the University of Cape Coast, where I earned my Diploma, Bachelor’s, M.Phil., and Ph.D., I held roles as Secretary of the National Union of Ghana Students (local chapter) and President of the SRC.

My involvement in national politics began during my university years, leading me to join the New Patriotic Party (NPP) as a youth activist. I served as the national youth leader from 2002 to 2005 and later as the spokesperson for the current President of Ghana, Nana Addo Dankwa Akufo-Addo, from 2007 until he took office in 2017.

In 2017, I was appointed Minister for Information and Presidential Spokesperson, followed by Minister for Zongo and Inner-City Development in 2018. In July 2021, I became CEO of the National Petroleum Authority. I hold multiple degrees, including a Ph.D. in Religion and Human Values from the University of Cape Coast and a Master’s in Energy Law from the University of Ghana.

Defining Experiences

What key experiences have shaped your approach to leading the NPA, and how have these influenced your strategies?

Leadership, for me, revolves around those you lead. No leader, no matter how skilled, succeeds without earning the loyalty and trust of their team. Compassion is key—it builds the loyalty that allows competence to thrive. At the NPA, this principle

Leadership, for me, revolves around those you lead. No leader, no matter how skilled, succeeds without earning the loyalty and trust of their team. Compassion is key—it builds the loyalty that allows competence to thrive

By leading with empathy, we worked with petroleum service providers to resolve financial difficulties, preventing job losses and safeguarding livelihoods. Our strategy has been simple: listen, empathize, and collaborate on solutions without compromising regulatory standards

helped guide the petroleum industry through the aftermath of COVID-19, which had devastating financial impacts on businesses.

By leading with empathy, we worked with petroleum service providers to resolve financial difficulties, preventing job losses and safeguarding livelihoods. Our strategy has been simple: listen, empathize, and collaborate on solutions without compromising regulatory standards.

Industry Challenges

What are the most pressing challenges facing Africa’s petroleum industry today, and how can they be addressed?

1. Balancing sustainability and energy poverty: While Africa must meet global environmental demands, energy poverty remains a critical issue. No African country has achieved universal access to electricity. To address this, we must maximize the use of hydrocarbon resources to improve living standards while advancing renewable energy solutions. The transition must be fair and just.

2. Global pricing dependency: Africa is a price-taker in the global oil market, leaving it vulnerable to price fluctuations. However, regional collaborations, like the Dangote refinery in Nigeria, can mitigate these impacts.

3. Limited access to capital: Financing for hydrocarbon projects is shrinking due to the focus on green energy. Africa must raise capital from within, supported by initiatives like the Africa Energy Bank and intra-continental trade under the African Continental Free Trade Agreement (AfCTA).

4. Skills gap: Africa lacks expertise in the upstream and midstream petroleum sectors. To bridge this gap, we need to invest in local talent development and enforce skills transfer from international experts.

5. Inconsistent regulations: A lack of regulatory clarity and standardization hinders trade and investor confidence. Initiatives like those by the African Refiners and Distributors Association (ARDA) to harmonize standards must be prioritized.

NPA’s Contribution

How does the National Petroleum Authority contribute to the growth and stability of Ghana’s petroleum sector?

As the regulator of Ghana’s downstream petroleum industry, the NPA oversees licensing, pricing, infrastructure, and operational standards. We ensure industry best practices, promote Ghanaian participation, and collaborate with peer regulators across Africa to enhance trade and quality standards.

Recent Initiatives

Could you elaborate on recent initiatives under your leadership that aim to improve the efficiency and sustainability of Ghana’s petroleum industry?

1. Infrastructure and supply development: A new private

refinery with a capacity of 45,000 barrels per day, set to expand to 100,000, now meets 70% of domestic petroleum demand, reducing pump prices.

2. Supply chain reforms: We’ve optimized the petroleum supply chain using technology, ensuring price consistency across the country through an enhanced zonalization policy.

3. Regulatory improvements: Reforms to the pricing mechanism and licensing processes, along with the development of a new NPA Act, aim to modernize our regulatory framework.

4. Local content: Regulations now promote Ghanaian equity participation, job creation, and value addition in the downstream industry.

5. Quality assurance: We’ve upgraded the NPA’s petroleum lab, enhanced safety measures for LPG, and set stringent quality standards for petroleum products.

As the regulator of Ghana’s downstream petroleum industry, the NPA oversees licensing, pricing, infrastructure, and operational standards. We ensure industry best practices, promote Ghanaian participation, and collaborate with peer regulators across Africa to enhance trade and quality standards

EDITOR’S

Pick

10 POWERFUL TAKEAWAYS FROM BILL GATES’S RECENT VISIT TO AFRICA

Bill Gates, co-chair of the Bill & Melinda Gates Foundation, recently completed a five-day visit to Ethiopia and Nigeria. His trip underscored the remarkable potential of these nations—and the continent at large— to shape global economic, social, and health outcomes. Despite the challenges of recent years, Gates remains hopeful for Africa’s future, and his foundation continues to make significant investments in partnerships aimed at transforming lives across the continent.

King Richard Igimoh f.hd

Group editor, African Leadership Magazine

Here are ten key takeaways from his visit, highlighting why Africa—especially Ethiopia and Nigeria—plays a crucial role in the global economy and why Bill Gates has become a steadfast supporter.

1. Africa: A Critical Player in the Global Economy

Africa is not only the world’s second-largest continent in terms of size and population; it is also fast becoming a vital player in the global economy. With a young, dynamic workforce, abundant natural resources, and a growing middle class, the continent has immense potential for growth and innovation. Ethiopia and Nigeria, two of Africa’s largest economies, are leading progress in sectors such as agriculture and technology.

During his visit, Gates emphasised the importance of sustained investments in Africa’s people and infrastructure. He believes that the continent’s influence on global economic trends will only increase, making it essential for international stakeholders to continue their support.

2. Ethiopia’s Agricultural Transformation: A Global Model

One of the highlights of Gates’s visit to Ethiopia was witnessing the country’s impressive agricultural transformation. Once reliant on wheat imports, Ethiopia has reached a significant milestone by producing all its wheat domestically. In the Oromia region, Gates toured wheat farms employing innovative techniques that have boosted output.

By using disease-resistant wheat varieties and early-warning systems to detect crop diseases, Ethiopian farmers have increased wheat yield by 70% per hectare over the last 15 years. This success story serves as a model for other nations grappling with food insecurity, especially in a world increasingly affected by climate change.

Africa is not only the world’s second-largest continent in terms of size and population; it is also fast becoming a vital player in the global economy. With a young, dynamic workforce, abundant natural resources, and a growing middle class, the continent has immense potential for growth and innovation

Ethiopia and Nigeria have made significant strides in economic and social development over the past two decades but have faced major challenges recently, including the COVID-19 pandemic, extreme weather, and political instability. While acknowledging these difficulties, Gates was inspired by the resilience he witnessed during his trip

3. Empowering Ethiopia’s Youth Through Agriculture

During his trip, Gates visited a poultry farm in Oromia that provides opportunities for young people. This initiative allows workers to earn salaries and save money to start their own agriculture businesses. The farm acts as a hub for talent and entrepreneurship, equipping Ethiopia’s next generation to contribute to the country’s agricultural success.

This project reflects the Gates Foundation’s broader mission to foster sustainable, long-term development in Africa by investing in its people, particularly its youth.

4. Resilience in the Face of Challenges

Ethiopia and Nigeria have made significant strides in economic and social development over the past two decades but have faced major challenges recently, including the COVID-19 pandemic, extreme weather, and political instability. While acknowledging these difficulties, Gates was inspired by the resilience he witnessed during his trip.

Despite these hurdles, African leaders and communities are forging ahead. The Gates Foundation remains committed to helping African governments address issues like malnutrition, healthcare, and education through data-driven, evidence-based approaches. These efforts are crucial as the continent seeks to recover from the pandemic’s aftershocks.

5. Ethiopia’s Commitment to Health and Nutrition

Gates met with Ethiopian Prime Minister Abiy Ahmed and other officials to discuss healthcare efforts. Though the country has faced significant health challenges, the government has implemented

evidence-based strategies to address them. Gates highlighted ongoing work to combat malnutrition, polio, and other critical health concerns.

This focus aligns with the Gates Foundation’s global mission to improve health outcomes. Gates has particularly emphasised fighting malnutrition, which affects 40% of the population in Sub-Saharan Africa and impairs the development of millions of children.

6. Nigeria: A Focus on Primary Healthcare

In Nigeria, Gates met with President Bola Tinubu and Health Minister Muhammad Pate to discuss plans for healthcare reform. Improving Nigeria’s primary healthcare system is essential for enhancing overall health outcomes in the country and across the continent.

Gates stressed the importance of realistic, well-funded healthcare strategies grounded in data. Nigeria is making progress in strengthening its healthcare system to address challenges such as immunisation, disease prevention, and maternal health in a nation of over 200 million people.

7. Tackling Vaccine-Derived Polio in Nigeria

Polio eradication has been a longstanding priority for the Gates Foundation. Gates used his visit to highlight the ongoing efforts to prevent vaccine-derived polio outbreaks. While Nigeria has made considerable progress, Gates emphasised the need for continued vigilance and investment in vaccines.

The Gates Foundation’s dedication to polio eradication exemplifies its longterm commitment to global health initiatives, particularly in Africa, where polio has historically been a significant concern.

8. The fight against malnutrition in sub-Saharan Africa

Malnutrition remains a pressing issue in Africa, particularly in Nigeria and Ethiopia. Gates’s visit highlighted the urgency of addressing this challenge. At the Nutrivision event in Nigeria, he engaged with over 200 students and innovators developing solutions to combat malnutrition.

Among those at the event was Nigerian influencer Chef Tolani Tayo-Osikoya, also known as Chef T, who uses her platform to raise awareness about nutrition. Gates praised her work, recognising the critical role of local influencers in raising awareness.

9. Innovation and Entrepreneurship: The Key to Africa’s Future

Throughout his trip, Gates emphasised the importance of innovation and entrepreneurship in Africa’s development. From Ethiopia’s agricultural initiatives to student innovators in Nigeria, Africa’s potential lies in its ability to adapt and innovate.

The Gates Foundation supports numerous projects aimed at fostering entrepreneurship, and Gates himself has long championed technological solutions to global challenges. He views Africa as a hub for new ideas in health, education, and food security.

10. Bill Gates: A True Friend of Africa

For over 15 years, Bill Gates has been a dedicated advocate for Africa. Through the Gates Foundation, he has invested billions of dollars in initiatives aimed at improving healthcare, reducing poverty, and expanding education across the continent. His recent visit underscores his ongoing commitment to these goals.

Despite Africa’s challenges, Gates remains optimistic about its future. He believes that the continent will play a critical role in shaping the world’s future, driven by its innovators, leaders, and entrepreneurs. Over the coming years, the Gates Foundation plans to deepen its partnerships in Africa, continuing to address the continent’s most urgent challenges.

Despite Africa’s challenges, Gates remains optimistic about its future. He believes that the continent will play a critical role in shaping the world’s future, driven by its innovators, leaders, and entrepreneurs

THE WORLD IS HUNGRY: CAN AFRICA’S AGRICULTURAL MIGHT ANSWER

CALL?

By Joshua Muhammed

A hungry world looks to Africa, the continent poised to play a vital role in the fight against global hunger. But with environmental and political hurdles ahead, will Africa rise to the challenge in time—or will food insecurity spiral out of control, pushing millions into poverty?

Poverty remains one of the most pressing global challenges, with profound implications for economic stability, social cohesion, and human development. As of 2024, around 736 million people 9% of the global population lives below the international poverty line of $1.90 per day. The fight against poverty is central to international development agendas, and Africa, often referred to as the “food basket” of the world, plays a crucial role in this global effort.=

At the 2021 UN Food Systems Summit, Ghana’s President Nana Akufo-Addo underscored Africa’s vital role in global food security and poverty reduction. With vast arable lands and favourable climates, Africa holds immense potential in agriculture. President Akufo-Addo called for increased investment in Africa’s agricultural sector, emphasising its strategic importance not just for moral reasons but as a necessity for global food security.

Global Poverty Trends and Regional Disparities

Global poverty rates have seen a mixed trajectory. While the number of people living in extreme poverty has decreased by 61% over the last three decades, the pace of decline has slowed. Currently, the global poverty rate stands at 9%, down from 36% in 1990. However, regional disparities persist.

Sub-Saharan Africa is the most affected by poverty, with about 40% of its population— approximately 430 million people—living below the international poverty line. In contrast, South Asia has a poverty rate of around 17%, impacting roughly 250 million people. East Asia and the Pacific have a low poverty rate of about 2%, with fewer than 40 million in extreme poverty, while Latin America and the Caribbean have a rate of around 10%, affecting about 60 million. Europe and Central Asia have the lowest poverty rate at 1%, with under 10 million people affected.

Impact of Conflict on Global Poverty

The Israel-Gaza conflict has severely worsened conditions in Gaza, with infrastructure damage leading to over 40% unemployment and more than 50% of the population living below the poverty line. Over 1.5 million people urgently need aid due to the conflict and blockades.

Globally, 3.7 million people are internally displaced, and nearly 6.5 million Ukrainian refugees face severe hardships. The war has also caused significant disruptions in education, healthcare, and other services. In Syria, conflict has led to a GDP decline of over 60% since 2011, while the Sahel region in Africa faces food insecurity for over 20 million people. In South Sudan and the Democratic Republic of the Congo, conflicts have worsened hunger, impacting millions.

Daniela Bas from the UN projects that the pandemic and Ukraine conflict will push an additional 75 to 95 million people into extreme poverty by the end of 2022, compared to prepandemic figures. Climate change could also increase poverty by up to 130 million people over the next decade if not addressed.

UN and Africa’s commitment to poverty eradication

The United Nations is dedicated to eradicating poverty through the Sustainable Development

In Africa, the vision for poverty eradication is articulated through the African Union’s Agenda 2063, adopted in 2013. This comprehensive plan focusses on sustainable development, economic growth, and poverty reduction, outlining strategies to achieve these goals across the continent

Goals (SDGs), specifically Goal 1, which aims to “end poverty in all its forms everywhere” by 2030. Established in 2015, this agenda includes targets for reducing poverty rates, ensuring social protection, and addressing the needs of the most vulnerable populations.

In Africa, the vision for poverty eradication is articulated through the African Union’s Agenda 2063, adopted in 2013. This comprehensive plan focusses on sustainable development, economic growth, and poverty reduction, outlining strategies to achieve these goals across the continent.

At the 2019 World Economic Forum on Africa, Akinwumi Adesina, President of the African Development Bank, highlighted Africa’s vital role in global food security, noting that the continent can help feed 9 billion people by 2050. He stressed the need to unlock African agriculture’s potential to drive growth, enhance global food security, and reduce poverty, urging a shift in perspective from viewing Africa as a problem area to recognising it as a land of vast opportunities, especially in agriculture.

Africa’s Agricultural Exports: Driver of Poverty Eradication

At the African Green Revolution Forum in 2020, President Kagame highlighted Africa’s vital role in global food security, noting that its agricultural sector is crucial for both its economies and global stability. Investing in African agriculture supports continentwide growth and global prosperity.

Africa’s agriculture employs over 60% of its workforce and contributes 23% to its GDP. In 2022, agricultural exports were valued at $65 billion, a 10% increase despite global challenges. Major exports include coffee, cocoa, tea, cotton, and fruits.

Côte d’Ivoire and Ghana supply 70% of the global cocoa market, with Côte d’Ivoire earning $5 billion from cocoa exports in 2022, crucial for poverty reduction. Ethiopia and Kenya also contribute significantly, with Ethiopia earning over $1.4 billion from coffee.

Southern Africa, notably South Africa, exports fruits worth $4.2 billion in 2022, aiding farmers and poverty alleviation. Africa’s agricultural exports are essential for global food security, stabilising prices and ensuring a steady supply of key commodities.

Africa Initiatives to Combat Poverty

Launched in 2021, the African Continental Free Trade Area (AfCFTA) aims to enhance intra-African trade and economic integration, with the potential to create jobs, improve living standards, and reduce poverty.

The African Development Bank’s (AfDB) High 5s strategy focusses on industrialisation, energy, and quality of life improvements to stimulate growth and poverty reduction.

Nationally, initiatives such as Ethiopia’s Growth and Transformation Plans and Rwanda’s Vision 2020 have

made strides in reducing poverty and promoting sustainable development, reflecting the continent’s commitment to economic progress.

Comparative Analysis:

Africa’s Agricultural Export Contribution vs Other Continents

Cocoa Production: Africa dominates the global cocoa market, with Côte d’Ivoire and Ghana supplying nearly 50% of the world’s cocoa. This contrasts with South America’s 15% share. Cocoa revenue is crucial for these African nations, providing stable incomes and helping lift millions out of poverty.

Coffee Production: Ethiopia, Africa’s top coffee producer, generated over $1.4 billion from coffee exports in 2022.

Although Africa’s total coffee production is smaller than South America’s, it excels in high-quality speciality coffees, boosting income and reducing poverty for farmers.

Tea Production: Kenya ranks third globally in tea production, with exports valued at $1.2 billion annually. The tea industry directly employs over 3 million people, significantly reducing poverty in tea-growing regions.

Employment in Agriculture: Agriculture is Africa’s largest employer, with over 42.5% of the workforce engaged in the sector. This is compared to 44% in Asia and much lower percentages in Europe and North America. The sector’s role in job creation is vital for reducing poverty in rural areas.

Poverty Reduction Trends: Ethiopia reduced its poverty rate from 44% in 2000 to 24% in 2022, largely due to agricultural and infrastructure investments. Rwanda’s poverty rate fell from 58.9% to 38.2% over the same period, driven by agricultural reforms and export growth.

Global Contributions to Food Security

Africa’s staple crop production, such as maize and millet, is crucial for regional food security. The horticulture sector, particularly in Kenya, South Africa, and Morocco, plays a key role in global fruit and vegetable supply. Kenya is the largest exporter of fresh-cut flowers to the EU, earning over $1 billion annually. Call to Action.

At the 2019 African Union Summit, AU Chairperson Moussa Faki Mahamat urged global leaders to recognise Africa’s potential in eradicating poverty, given its vast arable land and resources. He called for global partnerships to harness these assets, recommending investments in modern farming, climatesmart technologies, and improved infrastructure to boost agricultural productivity and reduce poverty.

Africa’s staple crop production, such as maize and millet, is crucial for regional food security. The horticulture sector, particularly in Kenya, South Africa, and Morocco, plays a key role in global fruit and vegetable supply. Kenya is the largest exporter of freshcut flowers to the EU, earning over $1 billion annually. Call to Action

DR. OLUSEYI AKINDEINDE: A VISIONARY LEADER IN CYBERSECURITY AND AI INNOVATION

In the fast-paced world of technology, few individuals have made a mark in both cybersecurity and artificial intelligence (AI) like Dr. Oluseyi Akindeinde. His journey, from civil engineering to becoming a thought leader in these fields, is not only inspiring but also a reference to how technology can shape the future. In this exclusive interview, we explore Dr. Akindeinde’s career, his innovative contributions, and how his work compares with global leaders in these domains.

A Global Perspective on Cybersecurity Leadership

Dr. Akindeinde’s career path mirrors that of global cybersecurity leaders who have pushed the boundaries of digital security. Similar to Mikko Hyppönen, the Finnish cybersecurity expert, Dr. Akindeinde began his career by focussing on digital vulnerabilities. Both leaders have emphasised the critical need to secure financial transactions and infrastructure as the world becomes increasingly interconnected.

While Hyppönen’s work at F-Secure revolutionised malware detection, Dr. Akindeinde’s contributions have been particularly impactful in Nigeria’s financial systems. His role as Chief Technology Officer at Digital Encode Limited for 20 years allowed him to develop expertise in security assurance and risk management. This approach aligns with global pioneers like Eugene Kaspersky, whose focus on antivirus development laid the foundation for comprehensive digital security.

The

intersection of AI and cybersecurity

As AI technologies become more sophisticated, they offer new ways to detect and mitigate security threats. Dr. Akindeinde’s move into AI, particularly with the founding of neural AI, places him among thought leaders who recognise AI’s potential to revolutionise not just cybersecurity but entire industries. His work with Large Language Models (LLMs) for generative text, image, and voice classification is reminiscent of advancements by leaders like Fei-Fei Li, co-director of Stanford’s HumanCentred AI Institute.

While Fei-Fei Li focusses on AI’s ethical implications in healthcare and education, Dr. Akindeinde has focused on security and authentication systems. His creation of cipherKEY tap2signTM, which uses NFC microchip technology for passwordless authentication, showcases his innovative approach to tackling security challenges. This reflects a broader trend where AI is becoming critical in combating sophisticated cyber threats.

Hyperspace Technologies: Leading Blockchain Innovation in Africa

One of Dr. Akindeinde’s most notable achievements is founding Hyperspace Technologies, a company at the forefront of blockchain and Web3 innovation in Africa. His work demonstrates how leaders in emerging markets are using advanced technologies to address local challenges while contributing to global advancements.

Comparing Dr. Akindeinde’s efforts to those of Vitalik Buterin, founder of Ethereum, a shared belief in the potential of decentralised technologies emerges. While Buterin’s work with Ethereum revolutionised the cryptocurrency and smart contract ecosystems, Dr. Akindeinde focusses on creating secure digital ecosystems in Africa, addressing challenges like financial inclusion and digital asset security.

Hyperspace’s cipherCHIP tap2verify system, which integrates NFC tags, NFTs, and blockchain for product authentication, is an example of African innovation addressing global issues. This mirrors the work of Don Tapscott, a global blockchain authority, whose vision of blockchain’s potential to decentralise systems resonates with Dr. Akindeinde’s efforts to fight counterfeiting and fraud.

Driving Economic Growth Through Technology

Dr. Akindeinde’s belief in the transformative potential of AI and Web3 extends beyond technical applications. He is committed to leveraging these technologies for economic growth and societal transformation in Nigeria and across Africa. His vision aligns closely with global tech leaders like Kai-Fu Lee, author of AI Superpowers, who advocates for AI as a tool for economic development, especially in emerging markets.

While Lee focusses on how AI can drive industrialisation in China and globally, Dr. Akindeinde is concentrating on Africa’s digital economy. His work at Neural AI, which helps organisations build AI models, is paving the way for African businesses to use AI in fields ranging from medical diagnostics to financial technologies, sparking a new wave of entrepreneurship and innovation across the continent.

A collaborative vision for Africa’s digital future

A recurring theme in Dr. Akindeinde’s career is his belief in collaboration. He stresses the importance of partnerships between the public and private sectors, as well as non-governmental organisations, to drive digital inclusion in Africa. This collaborative approach is similar to the work of Sundar Pichai, CEO of Google, whose initiatives in AI and digital access have aimed at democratising technology.

Dr. Akindeinde’s creation of open-source Web3 authentication APIs and mobile apps is part of his strategy to make advanced technologies accessible to all. This mirrors Silicon Valley leaders who champion the open-source movement, recognising the role of shared resources in driving innovation.

By fostering partnerships with African

startups, research institutions, and government bodies, Dr. Akindeinde is building a robust innovation ecosystem in Africa. His efforts echo those of Jack Ma, who advocates for entrepreneurship and digital inclusion in China and beyond. Both leaders share a vision of empowering local talent to compete globally.

Looking Ahead: Dr. Akindeinde’s Legacy and Future Aspirations

Looking to the future, Dr. Akindeinde remains focused on driving technological advancements that benefit both Africa and the world. His goals to democratise AI development, expand Web3 adoption, and bridge Africa’s digital divide are not only ambitious but essential. In this, he aligns with global leaders who view technology as the key to solving the world’s most pressing challenges.

Like Bill Gates, whose foundation leverages technology to address global health issues, Dr. Akindeinde focusses on creating social impact through his innovations. His cipherCHIP tap2verify and Keymaster VAULT systems are already making waves in industries like pharmaceuticals and luxury goods, and his vision for the future includes expanding these technologies further.

Dr. Oluseyi Akindeinde’s journey from cybersecurity to AI and blockchain innovation exemplifies the power of vision, innovation, and collaboration. His work is not only shaping the future of technology in Africa but also contributing to the global tech landscape. By comparing his achievements with those of global leaders, it’s clear that Dr. Akindeinde is not just following in their footsteps but carving his unique path as a visionary leader from Africa. His efforts will continue to drive economic growth, technological adoption, and societal transformation, positioning Africa as a major player in the global digital economy.

Dr. Akindeinde’s creation of opensource Web3 authentication APIs and mobile apps is part of his strategy to make advanced technologies accessible to all. This mirrors Silicon Valley leaders who champion the open-source movement, recognising the role of shared resources in driving innovation

Africa’s Tourism Boom: The Untapped Potential That Could Change Everything

By Rowland-George Omeni

In the heart of Africa, a silent revolution is underway—one that could either fuel prosperity or unravel economic dreams. The continent’s tourism industry holds the key, but will Africa seize the moment and push for travel within its own borders? Or will it remain on the brink of a golden opportunity lost?

Africa’s diversity in people, cultures, and landscapes has long been a major tourist attraction. The continent offers a variety of stunning scenery and rich cultures that appeal to both local and international visitors. This tourism has significantly impacted the socio-cultural and economic lives

of Africans. In recent years, intraAfrican travel has begun to play a larger role in tourism on the continent.

Tourism has had a substantial economic impact on African countries over the past 20 years. According to the World Travel & Tourism Council (WTTC), the sector contributes more than USD 186 billion to African economies and welcomes over 84 million international visitors annually.

The WTTC also reports that tourism contributes about 8.5% to Africa’s GDP, providing more than 25 million Africans with jobs and livelihoods. Countries such as

Zanzibar rely on tourism for over 51.7% of their GDP, while Tanzania, Madagascar, and Botswana use tourism revenue to support wildlife and habitat conservation efforts. However, these impressive figures depend heavily on international visitors from Europe, America, and Asia. Promoting intra-African tourism has proven to be a challenge, leading to vulnerabilities in the sector, especially as it remains susceptible to global economic shifts and political instability.

Intramural travel is often driven by trade between neighbouring countries, but it remains underutilized. This has allowed international tourists to dominate the industry. The WTTC estimates that expanding intra-African travel could inject an additional USD 168 billion into the continent’s economy

North African countries remain more restrictive. By 2021, 44% of African nations offered eVisas to other Africans, up from just 17% in 2016.

These efforts initiatives, such as the African Union’s eVisa system, Agenda 2063, and the African Continental Free Trade Area (AfCFTA), aim to make intraAfrican travel more accessible. seek to lower costs, improve transportation networks, and promote Africa’s diverse destinations more effectively

relaxed visa policies since 2016. Countries such as Rwanda, Benin, the Seychelles, and The Gambia are currently the most visa-friendly in Africa. Nigeria and Ghana are also moving toward more open systems, while

Improving infrastructure is another key to promoting intra-African travel. The AfDB has been instrumental in this area, investing billions in projects across the continent. Notably, the bank has invested $15.6 billion to develop a six-lane highway from Lagos to Abidjan, where 75% of ECOWAS region trade occurs. The AfDB has also funded major projects like the Kazungula Bridge, which connects Namibia, Botswana, and Zambia.

Collaborative initiatives, such as the African Union’s eVisa system, Agenda 2063, and the African Continental Free Trade Area (AfCFTA), aim to make intraAfrican travel more accessible. These efforts seek to lower costs, improve transportation networks, and promote Africa’s diverse destinations more effectively.

Intra-African tourism has the potential to greatly impact local economies, boosting businesses such as hotels, restaurants, tour operators, and artisans. This growth can contribute to job creation and economic development, particularly in underserved regions. By building a more self-reliant tourism sector, African nations can create a sustainable industry that benefits more than just international visitors.

In addition to economic benefits, intraAfrican tourism promotes cultural exchange and understanding. It offers Africans the opportunity to explore a wide range of cultural experiences— from languages and cuisines to arts and traditions—across regional borders. This cultural enrichment strengthens the pan-African bond and fosters a greater sense of unity across the continent.

Intra-African tourism holds great promise as a driver of economic growth and regional integration in Africa. Its potential benefits are vast, ranging from

boosting local economies to deepening cultural connections and enhancing Africa’s global standing. To fully realise these opportunities, it will take coordinated efforts from governments, businesses, and local communities. By embracing Africa’s rich diversity, the continent can unlock new opportunities for both travellers and its people.

44%

African nations offer evisa to other africans as of 2021

Intra-African tourism has the potential to greatly impact local economies, boosting businesses such as hotels, restaurants, tour operators, and artisans. This growth can contribute to job creation and economic development, particularly in underserved regions

THE POWER OF PERSISTENCE: NOMVULA MOKONYANE’S ROLE IN SOUTH AFRICA’S POLITICAL EVOLUTION

By Richard Spencer

Nomvula Paula Mokonyane, the Deputy Secretary-General of the African National Congress (ANC), has long been a prominent figure in South African politics. From her early activism during the anti-apartheid era to her pivotal ministerial roles, Mokonyane’s journey reflects resilience, courage, and a commitment to public service. In this exclusive interview, she shares her experiences, tough decisions, and vision for the future of both the ANC and the nation.

As South Africa grapples with socio-economic challenges and an evolving political landscape, Mokonyane’s leadership remains crucial. Her insights not only provide a reflection on the past but also offer a blueprint for the ANC’s future—a future shaped by unity, reform, and youth engagement. Her story of resilience makes this analysis from an exclusive interview a must-read for anyone invested in South Africa’s political trajectory.

A Legacy of Activism and Governance

Mokonyane’s political career began during one of the most turbulent periods in South African history. Growing up under apartheid, she quickly embraced activism, dedicating herself to the fight for equality and justice. “I entered politics at a young age as a student activist,” she recalls. “Being part of the Congress of South African Students (COSAS) laid the foundation for my involvement in broader political movements like the United Democratic Front.”

Her early activism led her to work closely with grassroots organisations such as the Kagiso Residents’ Organisation and the Federation of Transvaal Women (FEDTRAW), advocating for marginalised communities. This grassroots work eventually paved the way for her to transition into formal political structures after South Africa’s first democratic elections in 1994. Mokonyane was elected to the Gauteng Provincial Legislature, where she contributed to legislative efforts aimed at social development and community service until 2009.

Climbing the political ladder: provincial leadership and ministerial roles

A defining moment in Mokonyane’s career came in 2009 when she became the first female Premier of Gauteng, the country’s economic hub. Leading this province presented challenges across economic development, healthcare, and education. She embraced these challenges, implementing policies that fuelled economic growth and enhanced public services. “As Premier, my priority was integrating provincial governance with national policies, ensuring that we addressed critical issues such as education and healthcare,” she explains.

After her tenure as Premier, she was called to serve at the national level as Minister of Water and Sanitation from 2014 to 2018, a pivotal role given South Africa’s water scarcity issues. Under her leadership, her department initiated programs to address water loss and train young people for municipal jobs. “Our goal was to ensure more communities, particularly in rural areas, had access to clean water,” she says, underlining the importance of sustainable resource management.

Throughout her career, Mokonyane has faced both personal and political challenges, from her time in the anti-apartheid movement to her ministerial roles. One of the most challenging moments came during the negotiations that led to the establishment of the Government of National Unity

Her brief time as Minister of Environmental Affairs in 2018 was marked by significant initiatives such as the National Waste Management Strategy and the Industry Waste Tyre Management Plan. “As Environment Minister, I spearheaded strategies for waste reduction and recycling, which continue to impact the country today,” she emphasises, highlighting her longterm commitment to environmental sustainability.

A Vision for the ANC’s Future

As Deputy Secretary-General of the ANC, Mokonyane is focused on uniting the party and reconnecting with grassroots supporters. “My key objectives are ensuring the unity of the ANC, re-engaging with the grassroots, and promoting peace and stability,” she shares. Balancing the ANC’s legacy with the need for reform is no easy task, but Mokonyane believes both are essential for the party’s continued relevance. “Honouring our history is crucial, but we must also modernise and adapt to the current socio-economic realities of South Africa,” she asserts.

Youth engagement is central to her vision for the ANC’s future. Mokonyane has consistently invested in mentoring young leaders within the party. “I believe in helping young people believe in themselves and guiding them towards leadership. This is key to nurturing the next generation of political leaders,” she says, stressing the importance of youth involvement in shaping South Africa’s future.

Navigating Political Challenges

Throughout her career, Mokonyane has faced both personal and political challenges, from her time in the antiapartheid movement to her ministerial roles. One of the most challenging moments came during the negotiations that led to the establishment of the Government of National Unity. “Accepting the election outcome and

forming a government of national unity was one of the hardest decisions I’ve made, but it was necessary for the stability of South Africa,” she reflects.

In a country still grappling with the legacies of apartheid, poverty, and inequality, Mokonyane remains steadfast in her commitment to finding solutions that benefit all South Africans. “My focus has always been the good of the country, whether through my ministerial roles or my work within the ANC,” she notes. Her principled approach and results-driven mindset have earned her a reputation as a leader dedicated to positive change.

A Lifetime of Service

Looking back, Mokonyane’s contributions to South Africa’s political landscape are substantial. Her journey, from a young activist to a senior political leader, mirrors the broader struggles and triumphs of South Africa’s evolution. Her resilience, particularly as a woman in politics, continues to inspire many.

Mokonyane’s legacy is not only about policy and governance but also about nurturing a new generation of leaders committed to a more just and inclusive South Africa. “South Africa is at a crossroads, and it’s our responsibility to ensure we choose a path that brings us closer to the ideals we fought for during the liberation struggle,” she concludes with the resolve of a leader who has dedicated her life to her country.