PROJECT MANAGER Chris Bolderstone chris@enterprise-africa.net
SALES MANAGER Tommy Atkinson tommy@enterprise-africa.net
LEAD DESIGNER Aaron Protheroe aaron@enterprise-africa.net
CONTRIBUTOR Manelesi Dumasi
CONTRIBUTOR Timothy Reeder
CONTRIBUTOR Benjamin Southwold
CONTRIBUTOR William Denstone
EDITOR’S LETTER
A handful of major companies talk to us this month about their huge investments into technology. Why are they spending big on tech? To materially transform their operations for the better. Yes, there are teething pains, but in the longer-term these will be the companies with real bite.
However staunchly traditional or unintentional naïve you might be, if you are attempting to run a business in 2024 without adopting technology solutions, you are quickly heading out of the market and into history.
It goes from the small all the way up to the international corporates. Digital tech makes life easier, and others in the supply chain as well as customers, have already made the jump and have gone through decades of innovation.
African Data Centres is at the high end. The leading data centre organisation on the continent, it is planning to build a big new project in Kenya, alongside its current 4MW operation. It will also move into Rwanda and other parts of East Africa as hyperscale cloud players, financial institutions, and entertainment businesses from around the world look to take advantage of opportunities in the region while storing and managing data safely and effectively.
Warwick Wealth is bidding to become the largest wealth management business in South Africa and has invested in a digital client care system that will underpin worldclass service delivery for clients. At the same time, the team is utilising all forms of technology to get in front of clients and deliver updates in a human way. Without this investment, the company would look very different.
In the mountain nation, Standard Lesotho Bank is offering up new products, all delivered digitally, to encourage the population into the formal banking sector and drive-up financial inclusion. CEO Anton Nicolaisen tells us more about digitisation in a relatively untapped environment.
And Optimi – the e-learning specialist – is taking the tech talk to education, an industry still far behind in terms of the missed opportunities to use technology, to advance outcomes. A new home learning offering, backed by a digital portal, and delivered in a totally online environment sees this edutech organisation breaking barriers for the first time.
Published by
Chris Bolderstone – General Manager E. chris@cmb-multimedia.co.uk
CMB Media Group does not accept responsibility for omissions or errors. The points of view expressed in articles by attributing writers and/or in advertisements included in this magazine do not necessarily represent those of the publisher. Whilst every effort is made to ensure the accuracy of the information contained within this magazine, no legal responsibility will be accepted by the publishers for loss arising from use of information published. All rights reserved. No part of this publication may be reproduced or stored in a retrievable system or transmitted in any form or by any means without the prior written consent of the publisher.
Get in touch and tell us more about your technology, how it is beneficial, and how you are using it to advance your business. We’re always online at LinkedIn
Joe Forshaw EDITOR
AFRICA DATA CENTRES
ADC Promises Large Investment in Kenya
OPTIMI HOME & CLASSROOM
Modernising Methods in Age-Old Industry
STANDARD LESOTHO BANK
Support at Scale, Where Others Cannot Reach
WARWICK WEALTH
Multi-Faceted Growth Strategy Sees Warwick Doubling Every Three Years
CANON SOUTH AFRICA
Canon Combines Pioneering Products with Perfect Partnerships
TOURVEST DESTINATION MANAGEMENT
Leading Tourism Business Embraces Digital Transformation
CILO CYBIN
Groundbreaking Pharmaceutical Magic That Changes Lives
IMASFINANCE
Enabling You to Live Your Best Financial Life
ADC Promises Large Investment in Kenya
PRODUCTION: James Davey
Africa’s largest network of interconnected, carrier- and cloud-neutral data centre facilities, Africa Data Centres (part of the Cassava Technologies group) is expanding in the continent’s eastern region as more global players look for a reliable player in the area. Regional Managing Director: East Africa, Dan Kwach tells Enterprise Africa about the company’s big plans in Kenya and its neighbouring nations.
INDUSTRY FOCUS: TECHNOLOGY
//Africa is a tech destination like never before and like nowhere else. The growing population, and quickly increasing rates of connectivity and technology literacy make the continent a hub for investment. The fintech ecosystem has grown aggressively, and in highly innovative ways. Reports suggest the value of Africa’s fintech space will grow by 32% in the next four years.
But this progress requires capacity. Skills, capital, and infrastructure are essential in the ongoing digitisation of service delivery on the continent.
Southern and northern Africa are mostly well served in terms of connectivity and infrastructure rollout, but east and west Africa have much room for experienced players to take advantage of the growing need for volume.
At just 26.7%, the internet penetration rate in east Africa is the lowest on the continent, but demand for digital banking and financial services, entertainment, ecommerce, and software provision is soaring.
Dan Kwach, Regional Managing Director: East Africa at Africa Data Centres (ADC) has seen the trend grow, and he is happy to announce that the company is exploring the build of an all-new data centre in Kenya to support the digitisation drive.
“Looking at East Africa, we lead in many ways. We lead because we are the largest data centre operator at 4MW. It’s one thing to have 4MW data centre space, but it’s even more important being the most connected and rich in mix of digital ecosystem partners,” he says of the company’s operation in Nairobi where many large-scale players are hosted in one of the most reliable data centres on the continent. From banks to cloud players to public sector and content streaming organisations,
ADC plays an important role.
“We have the privileged position of having many critical players in one place. We host very sensitive and critical public sector digital infrastructure in our environment with need for more capacity. That is why we have taken the bold step to build a 15-20MW data centre.”
Already, the land has been acquired and ADC is busy working with the county to ensure the correct approvals are in place. When the paperwork is complete, construction can begin and Kwach suggests the new site can become fully operational in two years. An IT engineer by training, and experienced IT industry professional for almost two decades, he knows what it takes to build from the ground up in Kenya.
BUILDING CAPACITY
“We must proactively build capacity for new cloud players that are coming into Africa,” he says. “The whole discussion around AI, along with the fact that
Kenya is seen to have opportunities in green energy and talent; as well as the government taking a strategic role in marketing Kenya as a tech hub, and the fact our broadband penetration and network stability is very good, mean that it is sensible to build capacity in East Africa to serve the continent and the globe.”
Whilst this expansion is happening in Kenya, the capacity to be availed is sufficient to serve the continent as ADC leverages on local resources. The ICT market as a whole in Kenya is expected to reach a value of more than $10.5 billion in 2024 as more international businesses look for a base from where they will serve all of Africa. As a division of Cassava Technologies – a pan African technology leader -, ADC is using its position to assist in bridging the digital infrastructure gap.
“I am fully comfortable with local ability here,” says Kwach. “There is a skills gap and there is more that we can do. But that is very addressable by trusting the qualified talent we have in Africa.
We have a lot of high quality mechanical and electrical engineers coming straight from the universities. We have a lot of graduates in computer science and other technology courses that want to work. I am an advocate for African businesses using our opportunities to address unemployment here. I am a believer of giving opportunities to the ambitious youth here in Africa. When they have their education, let’s entrust them and help them translate their knowledge to a work environment. It will only happen if we give them exposure and experience.”
As the next generation builds its expertise on the new data centre, ADC and Cassava Technologies is highlighting the region as an investment destination for hyperscale cloud players. Efficient data centres are vital, storing vast amounts of digital information, processing and distributing as necessary, supporting various business
Continues on page 12
Dan Kwach, Regional Managing Director: East Africa
INDUSTRY FOCUS: TECHNOLOGY
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applications, effectively centralising IT operations and equipment.
STRATEGICALLY POSITIONED
“Kenya is strategically positioned to serve the globe,” Kwach reminds, saying that major submarine cables terminate in Mombasa before terrestrial cables complete the connection to the data centre in Nairobi. ADC has a strong presence, with data centres linked across South Africa, where there is a concentration in Johannesburg and Cape Town. In West Africa, there is a concentration in Nigeria and Ghana, while North Africa has a concentration in Morocco and Egypt. “With ADC having a strategy to focus on key locations, where there will be heavy consumption of technological services, we will ensure anything we build is sufficiently connected to serve the globe.”
On the continent, there is a plan beyond Kenya as ADC intends to extend reach in East Africa, to serve
Tanzania, Rwanda, Uganda, and other neighbouring countries. The high level of quality and safety combined with expert operation at local level make ADC the perfect choice for those working at scale. In Rwanda, ADC has a parcel of land that will be developed with the purpose of housing a leading data centre, connected to the rest of its Pan-African operations.
“A number of our enterprise customers– especially banking institutions – use our data centre to run pan-African IT projects. We expect more and more enquiries as businesses look for ways to centralise their IT infrastructure whenever chance allows,” says Kwach.
When up and running, the new data centre will build on what is already a formidable position in East Africa, expertly crafter over years by Kwach and team.
Currently, the 4MW data centre operated by ADC in Kenya – the first to be acquired by Cassava Technologies – has 3MW of lit capacity. But Kwach is keen to drive further usage of the
asset and is busy signing up new and existing clients as the remaining 1MW is activated. From here, organic expansion into the newbuild will begin.
“From an occupancy perspective, we have a privileged position,” he explains. “We are sold out to a mix of customers across telecoms (around 100 companies), banks and financial sector industry (where we host 60% of Kenya’s financial services players), and then content delivery players in the East African market.
“We have closed some deals with existing customers that requires us to expand our current space. We are activating an additional 1MW in our data centre, and that is our number one priority right now,” he says.
GREEN POWERED?
The demand for space is driven by customers who are transitioning from legacy infrastructure to the cloud. As part of digital transformation agenda, businesses generally implement a hybrid cloud model while transitioning from current to modern tech. On- and
AFRICA DATA CENTRES
// OUR UNIQUE SELLING POINT IS OUR ORGANISATIONAL CULTURE. IT IS A CULTURE WHERE EVERYONE IS A TOP PERFORMER //
off-prem cloud deployments will require complex IT business models. But another factor is also coming into play as organisations review their footprint. Data centres are typically energy intensive and require significant electricity input, creating emissions while generating heat. Cooling and lighting are key users of a data centre’s energy input. Hyperscaler’s cloud offerings and adoption of advanced computing technologies like AI, IoT, and blockchain will continue to encourage uptake of data centre space as East Africa moves quickly
on its digitalisation journey. When powered by green energy, Kenya and its infrastructure becomes even more aligned with ESG strategies.
“The government sells Kenya as a data centre destination because of its green energy resources,” says Kwach. With this opportunity in mind, the company is looking at other sites around the country to develop a fully green data centre. “We don’t want to do things the same as we have before. We have done well being in the enterprise hub of Nairobi, and we are efficient with a Power Usage Effectiveness (PUE) at 1.5. We want to tap into green energy and are looking at looking at sites in places with affordable, green and renewable power generation capabilities.”
With so much happening, not just in Kenya but across East Africa, ADC has cemented its brand at the front of the pack. Competitors are aggressive, says Kwach, conducting successful operations. But a culture of excellence sets ADC apart.
“Our unique selling point is our organisational culture,” he smiles,
citing Peter Drucker. “Ours is a culture where everyone is a top performer. As an organisation, we keep customer obsession at our heart. Everyone is sales oriented – that includes third parties that we work with. Even the man guarding our gate – everyone forms part of what we sell. How they position themselves and how they handle anyone who wants to interact with our data centre is how we win. We ensure that anyone who has an opportunity to work with us doesn’t think twice. We deliver on what we promise, and if for some reason we struggle, we hold ourselves to account,” he concludes.
This commitment to quality is what is helping Africa’s reputation on the global stage, and is what will only encourage further development in East Africa as the ambitions of global hyperscale players and regional powerhouses are matched by ADC.
OPTIMI HOME & CLASSROOM
Modernising Methods in Age-Old Industry
PRODUCTION: Harry Webster
By utilising technology to deliver education in South Africa like never before, Optimi promises revolution in a sector that needs innovation and pioneering input. Louise Schoonwinkel, MD at Optimi Home & Classroom, tells Enterprise Africa more about the growing uptake of new ideas in the learning space.
INDUSTRY FOCUS: EDUCATION
//In August 2023, leading South African education business –Optimi – was busy supporting 300,000 learners on their journey through adolescence, on to matric and beyond, and also underpinning
// MANY SCHOOLS ARE STILL RUN IN THE SAME WAY AS THEY HAVE BEEN FOR MANY YEARS. WE WANT TO ASSIST SCHOOLS TO BE FUTURE-PROOFED AND FORWARD THINKING //
skills by offering unique and bespoke training for professionals across various sectors. The company, established in 2019, came about as a result of the merger of several South African education and training organisations, most with deep roots and impressive records in the education space.
Last year, CEO Stefan Botha told Enterprise Africa that the Covid pandemic, which caught so many businesses digitally off-guard, highlighted the strength of Optimi. The company was already digitally savvy, with Botha highlighting its “strong technology focus”, and when the lockdowns came into force, Optimi was one of few organisations able to thrive.
“During the Covid period, we grew more than 50% on the home
schooling side,” says Optimi Home & Classroom MD, Louise Schoonwinkel “Operationally, that was a challenging period and we had to scale very quickly. Luckily, we did have all the systems in place to enable us to scale effectively .”
Optimi’s strength is in its ability to reach learners through various channels. Always accessible, and with consistently quality , the way the company interacts with people differentiates it from others. Recently reorganised to simplify the structure, Optimi is now made up of four distinct divisions: Home, Classroom, College, and Workplace.
Schoonwinkel’s responsibility sees learners from grade R to 12 taught in a modern and proven environment, removing barriers and positioning outcomes at the
Louise Schoonwinkel, Optimi Home & Classroom MD
top of the list of priorities.
Interestingly, in this division – the largest for Optimi – the pandemic highlighted home schooling as an opportunity and a viable alternative. When learners moved to distance education, the company’s offerings were far ahead of others and Schoonwinkel explains that this helped the brand to deliver a message that it was confident in all along: technology can transform education for the better.
HUGE OPPORTUNITIES
“In South Africa, there is a huge opportunity for growth in education, ” she says. “Optimi has a role to play in that by modernising education. The schooling sector is conservative and slower to adopt change, we provide
OPTIMI HOME & CLASSROOM
the platform for those who want to push the boundaries and who are ready for something alternative.”
A chartered accountant and experienced leader, her goal is to use the tools developed by the company to assist wherever possible in the journey of a learner.
“My vision is that we help every learner in South Africa in one way or another. We have so many different products and solutions – it’s a very broad sector. Our group vision is to bring accessible learning to all, and our work in the Home & Classroom division is a big part of that.
“We are looking at how we can support schools in a more effective way,” she adds. “Many schools are still run in the same way as they have been for the
last 100 years. We want to assist schools to be future-proof and forward thinking.”
Optimi sees trends coming across AI, nanolearning, VR, cloud-based learning, gamification, and mobile learning, and the team is busy getting to grips with these trends to apply them effectively for users. The result is, hopefully, a future where education knows no bounds, empowering individuals to realise their full potential and shape a brighter tomorrow.
Schoonwinkel explains that the company saw the market change its view of using technology in education when Covid hit. Despite being a relatively new group, it performed extraordinarily well and this has helped it to grow.
“The online school was something
INDUSTRY FOCUS: EDUCATION
we always thought about but the market wasn’t quite ready for it. COVID changed perceptions on this mode of learning and lead to us launching our online school, which has almost 2000 enrolled learners today”.
“Education is a very conservative market,” she highlights. “People are willing to try a new streaming service or similar but when it comes to a child’s education, very few are willing to try something different or take a risk. This is even the case for mainstream schools, where the appetite for change is low”.
ACCELERATED ADOPTION
Optimi’s homeschooling offering does represent change. The parent becomes part of the system, but is not required to deliver lessons or have an
in depth understanding of the subject matter. All tasks, tests and exams needed to complete the grade are delivered digitally. Printed or electronic CAPS-aligned lesson material in English or Afrikaans comes as standard. Step-by-step support for parents on how to work through the content is provided on the online Optimi Learning Portal (OLP) - an all-in-one learning platform. And comprehensive recorded lessons by education specialists are designed for success.
“In terms of technology, education has been one of the markets that has been very slow, prior to Covid, in adopting new technology. The pandemic has accelerated that. It has forced schools to use new platforms, and it has forced parents to think of online schooling, home
schooling, and other options, because there was no choice.
“From a home-schooling perspective, it certainly did open the market and change perceptions. There has always been a stigma around homeschooling. During Covid, many mainstream learners were homeschooled and some realised that it is a great fit for their family. They saw it work for their circumstances, and that was helpful,” Schoonwinkel remembers.
Importantly, the Optimi model brings new options for teachers, learners and parents. The OLP, which Schoonwinkel helped to build early iterations of, is set up to embrace flexibility and technology while remaining focussed on results.
“From a school perspective, teachers had to go online or use
new platforms to push content to learners. Those tools had not been needed before. The situation made the whole sector view technology in education very differently.
“We started our online school in 2022 and that has been one of our biggest growth areas. It’s a fully digital school – very similar to a brickand-mortar school, with teachers present throughout the day - but in a virtual classroom. Teachers take students through their content, and we invigilate exams online. Pre-Covid, there was little interest in virtual schooling and classrooms. Now, it is our biggest growth areas,” she says.
Our online school also has a focus on physical and mental wellness, with fitness and wellness sessions included in timetables. Learners also take part in virtual talent and art shows, and other group activities.
SUCCESS IN SUPPLY CHAIN
Currently, Optimi is at home in South Africa. The company has much experience operating across different provinces, in different languages, and building its brand as a modern and alternative educational organisation.
“Learning about the industry is the easy part,” says Schoonwinkel, who joined Optimi in 2017.
Building a great team and then structuring a wider support network that includes both local and international suppliers is the challenge, she says.
“We mostly work with local suppliers and we like to support locally where we can. We do work with international partners, especially on the IT side, but as a proudly South African company working with local partners is our choice.
“We build the majority of our own systems but we do use a whole range of suppliers and partners to ensure excellence. We are selling directly to clients and when we are in our peak period, we literally get thousands of enquiries per day. We have a digital
ticketing system and a call centre that helps us to manage that.
“We develop the bulk of our learning material ourselves but we do purchase some content. We also on-sell certain products. Many of our clients do still purchase printed books and that is a big expense every year, and that is why we partner with the best printers.”
In March 2024, the Department of Basic Education released a report revealing insight around the country’s foundational learning sector, in partnership with UNESCO through its Global Education Monitoring department. In many cases, the report found learning outcomes to be “well below target”.
Clearly, through the development of new educational eco-systems and the adoption of modern teaching and learning methods, there is a change
agenda that must be driven primarily for the benefit of the wider economy as well as those that operate in the space. Optimi is leading the charge, and its focus on innovation and development is refreshing in an industry that is behind the curve technologically.
“In education, digital transformation goes beyond integrating technology into the classroom, but also rethinking the teaching and learning processes to meet the demands of the digital generation. This shift from traditional learning has redefined how students learn, educators teach, and institutions operate,” the company says.
STANDARD LESOTHO BANK
Support at Scale, Where Others Cannot Reach
PRODUCTION: Jamie Waters
Standard Lesotho Bank has been through a long period of consistent improvement and enhancement as it now claims, without question, the industry leading position in the market. Demonstrating its strength and international capability, the bank is a big player in the Lesotho Highlands Water Project – one of the most important infrastructure developments in subSaharan Africa. CEO Anton Nicolaisen explains more.
INDUSTRY FOCUS: FINANCE
//Lesotho achieved economic growth of 2% in 2023, and expectations are that the mountainous country will improve in 2024, achieving 2.7%. Major national projects drive contributing industry sectors. In comparison, Lesotho’s powerhouse neighbour, South Africa, achieved growth of just 0.6% in the same period.
A relatively stable investment destination, with a number of internationally significant companies, Lesotho continues to shine as a star of sub-Saharan Africa because of its agriculture, mining, and technology innovations. But the major Lesotho Highlands Water Project (LHWP), now in its second phase after starting out in 1992, is a catalyst for activity across the region.
When Enterprise Africa spoke to
Standard Lesotho Bank in 2018, there was a focus on digitisation. In 2019, the company was expanding into new parts of the country, driving financial inclusion. 2021 saw new products launched through an improved digital presence to further growth in Lesotho. And in 2022, customer service was under the spotlight as the company aimed to secure its industry leadership.
Now, CEO Anton Nicolaisen tells Enterprise Africa that by building on company culture, service excellence is improved, and this allows the company to underpin major infrastructure projects, including the LHWP.
“We have worked a lot in terms of our culture to ensure people are engaged,” he says of SLB’s 720 employees. “We have made good progress in that regard. We have created a programme which encourages all
employees to become raving supporters of the bank and we continue to build that muscle. We are also focusing a lot on improving customer service.”
CULTURE BUILDING
‘We make banking convenient for you’ is the promise of SLB and with 17 official branches and 65 branded ATMs all over the country, the company is bringing the bank to the people. At the same time, digital offerings are still reaching further than ever before as SLB takes advantage of a government push to improve ICT provision. Online banking and a new app are useful for business and personal customers, and a call centre is on hand to deal with many requests meaning customers, especially those is more rural areas,
Continues on page 24
INDUSTRY FOCUS: FINANCE
Continued from page 22
do not need to travel to a central branch. The company is also home to a wide portfolio of products and services from daily banking to savings, loans, insurance, and much more.
Building the infrastructure behind the scenes for the past few years, SLB now has a robust platform from which it can grow. “We are a subsidiary of Standard Bank and we are on a cloud journey to localise a lot of our data,” details Nicolaisen. “We decoupled from the South African environment and we are standing on our own so that we can move entirely to the cloud - that has been a big focus for us recently.”
He adds that the enterprise market in Lesotho is important in this growth, and still represents significant opportunities even after SLB has
been serving the market for 29 years. “We have put into the market some new trade solutions and discounting of invoice solutions. That is quite new for this market and it has been well received. We see that as a good market that we can grow effectively.”
Promoting the company’s abilities is down the people within SLB, and new communication channels have been opened to ensure a clear and easy delivery off the Standard Bank message internally. At home in Africa for more than 160 years, the Standard Bank Group has been pivotal in accelerating financial inclusion, sustainable income growth, investment opportunities, and much more. Building vibrant company culture is important for Nicolaisen.
“In order to build the brand, you must encourage staff to buy into the brand first. We are doing a lot of
activities that will involve people,” he confirms. “We created the social media platform where people can talk together and discuss successes - we actively encouraged people to be involved in that. We are also linking up top performers for meetings with senior management, in an informal setting, so that they can engage and discuss the brand. When they are positive about the brand, they take that positivity with them.
“We want to build transparency and openness – those are the pillars in the culture and with them comes improved teamwork,” he says.
But the chief focus for SLB from a project perspective is the final years of the LHWP. This bi-national mega project sees a complex network of tunnels and dams put in place to direct water from the Lesotho Highlands for use in
Anton Nicolaisen, CEO
STANDARD LESOTHO BANK
South Africa, generating hydroelectric power for Lesotho at the same time.
FINANCIAL SOLUTIONS LEADER
“It is very important for Lesotho,” says Nicolaisen. “For a small country, it is a R43 billion water project in the mountains. SLB was critical in providing financial solutions. We see ourselves as the leader when it comes to providing appropriate financial solutions to various markets. We want to drive growth in the country, that is very important for us.”
The first phase of the project accelerated economic development dramatically, contributing 4.8% GDP in 2007 and creating around 9000 jobs.
“It’s all about providing water for Gauteng – the economic heartland of southern Africa,” adds Nicolaisen. “The governments have an agreement, and
they have built infrastructure over a number of years including the Katse Dam and the Mohale Reservoir. Now, we are in Phase 2 and the build of the Polihali Dam. Our support goes across the whole project – the build of the dam, construction of bridges, tunnel systems between the dams, and tunnel systems into South Africa.
“We are facilitating many of the contracts, many of which are with international companies. We are facilitating the guarantees for contractors, and we have the ability to link Lesotho to China and Italy where many of the contractors are based. We are obviously helping with the transaction flows as well.
“The project will go until 2028 and we are happy to be involved in the peak across this year and next year.”
In the near future and beyond,
SLB will continue to bring unwavering support to personal and business customers in Lesotho, fulfilling its mission of speeding up African growth. at the same time, its support of high-level economy-supporting infrastructure projects is also essential as the only bank in the country able to provide services at such scale. For Nicolaisen, expansion is undoubted.
“We have between 50-60% of the market and we will be growing selectively, with a big focus on retention, and building with our existing customers. We will also expand with solutions that are not in the market so that we can continue to scale the business,” he concludes.
WARWICK WEALTH
Multi-Faceted Growth Strategy Sees Warwick Doubling Every Three Years
PRODUCTION: James Davey
One of South Africa’s leading boutique financial advisory businesses, Warwick Wealth, has been growing aggressively, and has no plans to slow its progress. MD Marc Wiese tells Enterprise Africa that success is down to elite-level client care, perfect product diversification, and the best offer in the industry for IFAs looking to exit the industry.
INDUSTRY FOCUS: FINANCE
Marc Wiese, Managing Director
//“We’ve been busy, but busy is good,” says Marc Wiese, MD of Warwick Wealth.
As he sits in the company’s Gauteng office, north of Johannesburg , he smiles as he confirms the company has overachieved on his predictions from 2020.
Warwick Wealth is a leading financial and wealth management business, part of the Spirit Organisation, offering exceptional products, client service and performance since 2002. A leading national sponsor of around 850 grassroots sporting institutions, the company’s brand is increasingly well-recognised, and its impact on local communities is felt around South Africa.
Asked about how the company has performed, after strong historic growth, even through the Covid-19
pandemic, Wiese says his expectations have materialised. In early 2020, he said the following 10 years would be the company’s best ever.
“In hindsight, I stand by that statement,” he says today. “Looking back, even with lockdowns, we did well and we actually managed to grow. It allowed us to consolidate, and we completed a lot of training to make things more streamlined. As we went into the later part of 2021, it has been a record year after record year.”
M&A GROWTH
Warwick Wealth has expanded quickly for three key reasons. Firstly, its product and service quality is excellent. “I believe our client care is the best in the industry,” says Wiese, confident of the suite the company has built. Secondly,
the company has been proactive with its existing customers, providing peace of mind during challenging times and earning a reputation as a partner. In 2021, Wiese told Enterprise Africa that Warwick Wealth got in front of clients as much as possible to ensure trust in processes. Lastly, Warwick’s ability to merge and onboard Independent Financial Advisory (IFA) books is industry-leading.
Typically IFAs that are looking to exit the industry for retirement, Warick Wealth will take on clients and offer the same, or better, service in a thorough and transparent transition.
“It has taken a quantum leap,” admits Wiese. “That has always been our vision and the driving force behind our growth.”
Warwick Wealth is an investment specialist, with a focus on comprehensive estate planning and wealth management and growth. The company not involved with short term insurance or similar products, and so any onboarding of external advisor accounts must be conducive.
“We like it when people want their clients to be looked after in the right way, and we want them to want us to offer the same level of service or better,” says Wiese.
“When we onboard a FA, it’s not just an email; it’s a long-term process. They sit with their clients and are very clear in the way the succession is explained. They can tell clients that the Warwick Wealth Specialist is a CFP qualified person, who has been through market cycles, and has 10-20 years’ experience in the industry, with an amazing support team. At the same time, through Warwick we can do so much more than an advisor would have been able to do on their own. Not more products, but an improved wealth management offering,” he adds, saying that all Warwick employees are bound by a client care charter which dictates how to deliver extraordinary service. “If the clients aren’t happy, the business is irrelevant.”
To ensure the smooth process
of acquisition – a term Wiese dislikes: “it’s the activation of a succession plan; you can’t ‘acquire’ people” – a new onboarding division has been established, and a new Director of Client Care has been appointed.
“Our client care is the best in the industry, and the advisors do their due diligence on this and they recognise that to be true,” Wiese says. He invites advisors to visit, meet people, witness processes, take part in the culture, and make their own decision on why Warwick is the right choice.
“It’s a full, rigorous due diligence process. At the point we communicate with clients, there is no surprise. It’s a very smooth process.”
Of course, there is a very attractive financial offer for advisors, but the key focus is the ongoing care of clients. “Through the Warwick value proposition, with an annuity payment over an extended period, we believe we have the best financial offer for an advisor looking to exit the industry,” Wiese enthuses.
Warwick Wealth, as part of the Spirit Organisation, sits under the Orion Wealth Managers Group (with Appleton, a fiduciary specialist organisation), and the wider group can help clients to broaden their exposure to beneficial products should they require.
Director of Communications, Tim Hughes, adds that advisors who have joined the business have been happy to put their experience on record and the company now has a library of positive testimonials to share. This, he says, is very helpful when opening discussions for the first time.
“They give many reasons why they came on board and the word is spreading in the industry that clients are looked after really well, and the deals offered to advisors are the best in the industry. It is third party ratified, and that is helpful.
“The fact of the matter is that every person is looked after by at least three people. They have a wealth manager that is fully qualified and regulated, they have a client
WARWICK WEALTH
relationship specialist, and a client relationship officer. We also offer a high interest cash account automatically and we assist in so many ways; financial planning, tax planning, fiduciary, estate planning, wealth development and much more. It is a holistic service.”
CLIENT CARE, ABOVE ALL
Because of the world-class client care standards in place, many IFAs choose to partner with Warwick on a franchise-type arrangement. In 2021, Wiese wanted another 15 franchise offices organised in the following 12 months, but his expectations have once again been met, and more.
“We have opened an additional 30 offices around the country on the advisory side. We have three more opening this quarter and that will take us over 40 in a very short period of time. In the last two years, we have tripled in size, and that has been fairly spectacular,” he says.
Just three years ago, the economy in South Africa was teetering. There
INDUSTRY FOCUS: FINANCE
was much unease in the business community, and many structural issues which constrained economic development. Today, although many challenges remain, the picture is different and Warwick has again demonstrated its ability to operate through the good and the bad.
“We see green shoots in the economy,” says Hughes. “We have had a good period without electricity loadshedding. Interest rates are beginning to ease slightly. We have better business sentiment. There is more international appetite in the bond market. The local exchange is hitting record highs. We are not agnostic, but we do have a range of options for clients.”
For Wiese, the only way to take advantage of more favourable conditions is to continue offering premium customer service. This is his focus, and it filters into the culture of the business.
“In a business that is growing at the rate we are, we don’t want to drop the ball in terms of client service,” he insists. “You simply cannot renege on the core fundamental. The minimum compliance requirements are, for us, simply not good enough and we go way beyond that. As we grow, it is essential that people are trained in the right way.”
Cobus van Schalkwyk, a leading compliance officer and attorney, was hired in February to lead this push. With more than two decades experience, he brings a surgical focus on quality assurance, reviewing all calls, reviews and liaisons. “I have not seen that sort of commitment anywhere else in the industry,” admits Wiese.
At the same time, the new Warwick Client Communication System (CCS) is a digital wealth portfolio summary that sees the company using technology to further solidify its quality drive. This innovative system removes complexity from a typically
demanding paperwork process.
“An independent business like ours - where clients have offshore share portfolios local annuities, retirement annuities, wills, banks accounts – when you review a client like that it is difficult to prep information for a review,” explains Wiese.
“Warwick CCS provides us with client review statements (a statement of private wealth) and it consolidates all of the client’s global and local assets into one statement showing cashflow movements, underlying holdings in a simple and easy summary. That has been a game-changer when sitting with clients and explaining their portfolio.”
DIVERSIFICATION
As the company grows further, Wiese and Hughes are clear that diversification is required to ensure the best delivery for clients. Exposing large financial portfolios to a single market that makes up less than 1%
of the global exchange value such as South Africa, is, for Wiese, too risky.
“Our loyalty is to our clients,” he says. “We have to diversify in the right way. Each client is different and a bespoke financial view is important. The global stock market has outperformed the local stock market for a long period of time but that does not mean we will not invest here in SA where there are fantastic opportunities.”
Currently, Warwick has good exposure to local fixed income, local equity, RTAs, property and more. However, the company is also wellversed with international investments, with Wiese particularly keen on international share opportunities that cannot be found on the JSE. “Offshoring is exceptionally important,” he says. “The active view on asset location, and the ability to move money when required, in an efficient manner, is essential.”
Spreading risk and investing in international products was a proactive decision made by management back in 2016. A positive communication campaign was undertaken to ensure clients were comfortable with any changes.
“That instilled a degree of confidence,” says Hughes. “When things were better in SA or better in international markets, we were right there with the client explaining our approach. That means that now these things are very orthodox for us. Our international exposure is not even questioned; it is a natural part of our portfolio. We have a really strong portfolio of offerings, and we always have something that is very appropriate for each risk profile, income needs, and other circumstances.”
The result of this globalisation in the business, combined with constant focus on quality, has resulted in a rampant period of sustained growth, and this will continue.
“In the past three years, we have grown at a record-breaking pace every year. We are set up to continue doing that for the
foreseeable future,” reminds Wiese.
“Our long-term goal,” he adds, “is to grow Warwick into the best and largest wealth management business in South Africa. Alongside that, within the Spirit Invest Group, we have expanded the asset management offering and we have diversified that across six independent asset management businesses with more than 30 local and international unit trust funds. We have also decided to partner with nine different local and international best-ofbreed equity specialist businesses where we buy equity models and research and apply that within the asset managers, offering even more diversification. That has been a significant investment, but it has been yielding results.”
Hoping for another round of perfect predictions, he sets out a bold vision for the coming years, taking into
account the success of the business to date, his knowledge of the sector, and projections of economic success.
“I believe that Orion Wealth Managers will continue to expand, partnering with more businesses to bring them under the Orion Wealth Managers banner, bringing new focus areas where Warwick doesn’t have a core competency. Things such as employee benefits, medical aid, short-term insurance etc. That is a key goal in our overall structure.
“We believe that Warwick should be doubling in size every three years and that is our goal. We have been doing it for a while and we will keep on going,” he concludes.
CANON SOUTH AFRICA
Canon Combines Pioneering Products with Perfect Partnerships
PRODUCTION: Harry Webster
Global technology leader, Canon, is achieving significant success in South Africa as it continues to strengthen its position as the market leader in all the segments it plays in. MD David Preston tells Enterprise Africa more about growth in product range and supporting services, creating the perfect picture for a business that has been through much change.
INDUSTRY FOCUS: TECHNOLOGY
//David Preston, MD of Canon South Africa, is clear in his vision for the company going forward. Since arriving from Canon Europe in early 2020, he has pushed an agenda of change, bringing about a modern, digital, technology-driven organisation that can cater for the needs of customers across sub-Saharan Africa.
// BY OFFERING OUR CUSTOMERS THE ABILITY TO LEASE, WE ARE NOT ONLY ALIGNING WITH GLOBAL TRENDS BUT ALSO IMPROVING THE OVERALL CUSTOMER EXPERIENCE //
Canon is a leading global technology company with a focus on imaging. Established in Japan in 1937, the company has become an international powerhouse with operations across all continents, driving innovation like few others.
In South Africa, the company was established in 2000, taking advantage of strong brand recognition. For some time, the Canon brand had been imported and distributed through local partners. But a quickly growing market, driven by demand for premier quality cameras and lenses, saw HQ call for a formal presence.
“That is when we transitioned from a distributor model to a Canonowned entity,” says Preston, a Canon veteran of more than 25 years.
A combination of drastically improved image quality, greater convenience, and the early rise of social media saw the digital camera market boom. Canon South Africa was a pioneer in the mirrorless camera
market, and its office equipment offering also gathered pace. From 2002, for the next decade, the business grew significantly, becoming one of the most important businesses within its segment - the Developing Regions Business Group (DRBG). The likes of the EOS R5 and the R3 have positioned the company as the innovator of choice for photographers in the both the professional and hobbyist space.
Today, Canon South Africa is home to 180 people, based in a state-of-theart premises in Pretoria. Key products include cameras (photo and video), lenses, office printing equipment, and industrial printing solutions. Because of its valuable range and strategic position, the SA operation also caters for export across sub-Saharan Africa, either exporting directly to clients or working alongside local distributors.
“We’ve been through a lot as an organisation,” says Preston. “I came here as the business had not changed much in the 20 years since its inception. We
have changed our physical location, we have completely refurbished, we have a new warehouse, we have new logistics provider, we have a new ERP system, we had the lockdowns etc. It underlines Canon’s commitment to the whole continent of Africa. We have invested heavily in people and technology to ensure our customers get exactly what they require.”
NEW FINANCING OPTION
In September, Canon announced a new partnership that would help to offer accessibility to products at the top end of the market. Industrial printing, where machines run aggressive work programmes and represent significant capital outlays, can now be leased through an arrangement with Canon, Merchant West, and the end user.
After displaying at the major druper professional printing exhibition in Germany in May, interest in Canon’s high-end equipment has soared.
“We launched a number of inkjet and laser engines and they have been extremely well received by commercial
printers around the world,” says Preston. “That has had a big impact on our business in South Africa this year and will continue as new products come online next year in the labelling and packaging industry, which we see as a big opportunity in SA.”
The arrangement with Merchant West sees Canon able to offer products on a lease basis, with monthly instalments rather than major payouts. All the local requirements around partnership, and financing regulation are taken care of by Merchant West, and Canon expects to solve a problem for clients around cash flow and having access to equipment with minimal operational disruption.
“In SA there is a strong leasing mentality,” Preston details. “Financially, SA is a very mature market in terms of products on offer to business and consumers. We felt that, in order to meet the growing demands of the professional print market, it would be useful to have a finance product that enables access to some of our larger products which are in the millions
CANON SOUTH AFRICA
of Rand. The financial proposition that sits behind the product needs to be a strong one so that when companies account for the acquisition of the product it all makes sense.
“We went to the market to provide a partner who we could rely on to provide all for the financial security required for customers as well as the products that met all of the compliance requirement for the industry in SA.”
Petrie Kleynscheldt, Finance Director at Canon South Africa, adds:
“By offering our customers the ability to lease, we are not only aligning with global trends but also improving the overall customer experience. This partnership with Merchant West gives us the ability to offer tailored financing that meets our customers’ needs without tying up their capital.”
CLEARLY GROWING
Currently, the mindset in Canon is one of growth. The business has an extremely strong product range and enjoys leading market positions across a number of its core sectors. Preston is clear that Canon
INDUSTRY FOCUS: TECHNOLOGY
must grow in a profitable way as it looks to bolster in developed markets.
“We want to be number one but we want to do so in a profitable way,” he says. “That is driven at individual product level and each product we sell is sold profitably. Of course, we might decide to be very price competitive for a period of time, but that is not a sustainable business model for anybody.”
The photo/video market is dynamic and quickly changing, with use cases and technology vastly different from one year to the next. The market for cameras has declined inline with the rise of the smartphone but that reduction has been countered by a boom in the professional photography market. “Our mirrorless
products are now aimed at that group of customers,” confirms Preston.
Video products are becoming increasingly successful as digital content is centred around this medium. “We have great products in that space. we also have great products for professional filmmaking. Whilst the volume of units has declined, the complexity in the professional market has grown, and in revenue terms it has been really good.
“Increasingly, in the professional market – the Netflix film market – our products are being used. We are launching a number of products in that very high-end market, and they will definitely have an impact at the end of this year and into next year,” Preston highlights.
With office equipment, the
industry is similar. Smaller office printing solutions have declined but larger, heavy-use industrial products have become more important. Canon is number one in the office printer and professional printer space in a number of the sub-Saharan nations, but Preston is cautious with data not easy to come by. “Many consulting companies don’t measure in all countries but our local feedback suggests that, in most cases, we are number one in photo/video and office print.”
He says that the target is the number one position, in terms of market share, in every segment, in every geographic market. However, even being the market leader comes with its challenges as growth is more difficult and mainly focused on taking market share from others.
“We have seen that a number of our competitors are challenged. The environment we operate in is challenging,” explains Preston. “Canon is very strong financially and very stable, and we can continue to invest. While there is not huge growth in the market, we are always looking to take competitor share. In some of the neighbouring markets there are
Growth strategy is backed by a rolling three-year plan which identifies strengths and weaknesses for the business, and offers up opportunities. This plan is addressed annually and adjusted to suit economic and commercial conditions.
“Because of the diversified nature of our product set, it means we are very strong financially and our direction is one where profit means we can invest in people, better-quality services, and better-quality marketing,” Preston says.
STRONG POSITION
Longer-term, the goal for Canon locally matches its global mantra; the Japanese word Kyosei – a philosophy which sees people live and work together to achieve a common good. In South Africa, the company has teams across consumer sales and
marketing, business-to-business sales and marketing, after sales, service, finance, and business operations. By maximising the potential of these teams, and harnessing the innovation and thought-leadership that comes with being part of a global industry leader (home to more than 180,000 people), the company is perfectly placed for ongoing expansion.
“The commercial print side of our business, where we have been in the market for a number of years, will continue to generate other opportunities,” says Preston.
“On the camera side, we continue to evolve and develop a range of lenses to fit our mirrorless camera bodies. From when we launched, we now have more than 50 lenses. It’s an important development for the photo/video community and because photo and video is
interchangeable, and our lenses are perfectly designed to accommodate.”
The product range is right, new financing arrangements are now in place, service teams continue to work successfully alongside clients. The proposition from Canon South Africa is, for Preston, right where it needs to be.
“The things that make up your customer proposition are a good product – that is a pre-requisite -, competitive pricing, support from a service perspective, and a return on investment for the customer – that is critical. When you put all of those things together, we are in a really strong position going forward. We have changed a lot here so it is early days, but it is very exciting,” he concludes.
TOURVEST DESTINATION MANAGEMENT
Leading Tourism Business Embraces Digital Transformation
PRODUCTION: Jamie Waters
Tourvest Destination Management is known for its excellence in creating world-class African travel experiences. As it emerges from the challenges of the Covid pandemic, the company is building on its reputation by expanding into new territories while maintaining its market share in established regions. CEO Martin Wiest shares insights into the company’s revival and continued success in a post-pandemic world.
//Africa offers an unparalleled diversity of cultures, landscapes, and experiences. Nowhere else can travellers find such a wide variety of encounters, which is why the continent has been a popular tourism destination for decades. However, the Covid-19
pandemic in 2020 brought tourism to a sudden halt, devastating economies reliant on the industry. Countries like South Africa, Egypt, Morocco, and Kenya were hit particularly hard.
Tourvest Destination Management (TDM), a leading travel management
company known for its commitment to creating uniquely African travel experiences, was significantly impacted. In 2018, TDM was thriving, expanding into new markets and seeing growing popularity for its brands. However, the pandemic was a major setback, cutting
INDUSTRY FOCUS: TRAVEL & TOURISM
the company’s workforce by half.
Despite the challenges, CEO Martin Wiest reflects on the company’s resilience: “Those 2.5 years were disastrous, but we have recovered well,” he says. TDM survived by making strategic investments during the pandemic that helped position the business for long-term sustainability.
POST PANDEMIC SUCCESS
By refocusing on digital tools, expanding into new regions, and elevating service delivery to new levels of excellence, TDM is once again thriving. In fact, 2024 has been the company’s best year to date, with turnover and profitability surpassing pre-pandemic levels.
Before the pandemic, TDM concentrated its efforts in South Africa, which served as a key gateway for tourism in Africa. However, since
then, the company has expanded significantly into East Africa, helping it reach new heights. “We now have a very broad strategy,” says Wiest.
“Our East African operations are materially bigger than they used to be,” Wiest explains. “We are present in three countries, with six offices. We are also busy opening a new office in Rwanda, and we are considering a move into Ethiopia.”
The company is finalising a startup venture in Rwanda, adding to its portfolio, which already includes the UK and Ireland, where sports tourism is an important business segment. Looking further afield, TDM has its sights set on South America, where it is currently pursuing new developments.
Post-pandemic, the tourism market has changed, with travellers now seeking more authentic, immersive experiences.
Wiest notes that today’s travellers demand more experiential holidays than they did in 2019. “Back then, it was about consumption. Now you have to add much more to make it an experience. Maybe it’s because people were locked up for so long,” he says.
As TDM continues to expand its presence in South America, this need for experiential travel is shaping its approach.
OFF THE BEATEN TRACK
One of the key brands helping TDM meet the demand for immersive travel is Drifters, a tourism experience that uses purpose-built vehicles to take travellers deep into their destinations. “Drifters allows us to globalise,” Wiest explains. The company plans to launch Drifters in Patagonia, Argentina, by early 2025, with trucks currently being built in Brazil.
Drifters offers something unique: an off-the-beaten-path adventure that takes travellers into the heart of their destination, offering an experience unlike any other. “Demand for the typical overland, backpacker trip has waned,” says Wiest. “We’ve upgraded the product and built purpose-made touring vehicles. We’re rolling them out in East Africa while consolidating them in southern Africa, and all signs point to great success.”
Drifters also enables TDM to establish a presence in locations with underdeveloped tourism infrastructure. Wiest cites Ghana as an example: “There are amazing sights and incredible game reserves, but they only have 15 or 20 beds, so you can’t use it as a tourism destination without mobile solutions. That’s where Drifters comes in.”
EMBRACING DIGITAL TRANSFORMATION
As TDM expands into new business lines and geographies, efficient processes are essential. The company’s strength lies in its ability to adapt, and digital transformation has
Continues on page 42
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INDUSTRY FOCUS: TRAVEL & TOURISM
Continued from page 40
become a crucial part of its strategy. “We compete with online travel agents (OTAs) and bed banks, which disintermediate us at both consumer and customer levels,” Wiest says.
With 75% of TDM’s costs attributed to manpower, the company is striving to become more efficient through digitalisation. “The more you can do digitally, the cheaper you can operate, and in today’s world, the lowestcost producer wins,” says Wiest.
TDM has introduced various online tools, booking systems, and AI-powered integrations to increase volume, improve quality, and maintain efficiency. These digital advancements not only help with revenue generation but also enhance quality assurance.
“To compete with OTAs, we
needed an African tool that delivers African content with the right speed and technology, allowing customers to interact with us in real time,” Wiest explains. TDM accelerated its digital transformation during the pandemic, significantly improving its digital presence in established markets like South Africa and Namibia.
Although TDM is confident in its digital capabilities, Wiest emphasises that technology will not replace the human touch in areas where digital competitors have less understanding. For instance, in Kenya, organising a world-class self-drive holiday cannot be accomplished with an OTA alone.
TDM’s strategy combines digital efficiency with local expertise, particularly in markets like Brazil, where the company is setting up its own distribution and reservation offices.
“We see the future in creating our own distribution channels,” Wiest says. “Our first office is opening in São Paulo, and we’ll use the lessons learned there to expand into other markets where we currently have little market share.”
As the tourism industry becomes increasingly competitive, TDM refuses to rely solely on price. Instead, the company is focusing on enhancing its capabilities and geographic footprint. During the pandemic, TDM rebranded and realigned its two core brands— Sense of Africa and GoVacation Africa— further strengthening its brand equity.
Wiest explains that TDM thrives in complex travel environments. “The more complex a destination, the more value we have. That gives us more purpose and sustainability.” In more commoditised markets, like South Africa and Namibia, the company is driving digital transformation to maintain its competitive edge.
TDM’s commitment to digital excellence and service quality has positioned it as a leader in African tourism. “We are leading the pack on the continent in digitising a destination management company through the creation of our virtual marketplace,” says Wiest.
STABILITY & FUTURE GROWTH
Despite significant investments in growth, TDM remains financially strong. “Many companies came out of Covid with enormous debt, but we didn’t. We are poised for growth and expansion,” Wiest says.
Tourism has returned as a strong contributor to the African economy. By 2024, the industry is expected to generate $23.37 billion, with a projected growth rate of 7.5% through 2029.
// OUR EAST AFRICAN OPERATIONS ARE MATERIALLY BIGGER THAN THEY USED TO BE //
TOURVEST DESTINATION MANAGEMENT
“Proudly celebrating over 20 exciting years of partnership with Tourvest, shaping unforgettable travel experiences together!”
Chris Anagnostellis ~ CEO
Africa remains home to some of the world’s most attractive destinations, including Kruger National Park, the Great Pyramids of Giza, and Victoria Falls.
Even with Africa’s natural wonders, poor service can detract from the overall travel experience. Wiest emphasises that while digital tools are essential, TDM remains focused on providing high-quality service. “In South Africa, you must offer concierge services for more demanding consumers,” he says. “More of our customers want responsible travel, and we’re developing products around that.”
Wiest also believes that customer service will become increasingly important as consumers grow frustrated with impersonal online platforms. He recalls TDM’s efforts during the pandemic, where they ensured that every traveller was safely returned home,
unlike many larger travel companies that struggled to track their customers. Looking ahead, Wiest is optimistic about the future of TDM and the tourism industry. “We are leading in terms of digital capability and geographic footprint. Those are the things that will set us apart and keep us sustainable moving forward.”
In a rapidly changing industry, Wiest stresses the importance of excellence. “Just making a hotel booking is no longer sufficient,” he concludes. “Being average is no longer good enough—you have to be excellent to compete.”
Martin Wiest, CEO
Groundbreaking Pharmaceutical Magic That Changes Lives
PRODUCTION: Jamie Waters
Cilo Cybin represents the first entity in South Africa to obtain both medical cannabis cultivation and GMP manufacturing licenses, in 2020 and 2021 respectively, maintaining a focus on cultivating medical-grade cannabis flowers for exportation and further processing. “We are recognised as leaders in the industry in South Africa,” says CEO Gabriel Theron, as his company continues to create history and shift perceptions all while making a genuine difference in the lives of users every day.
CILO CYBIN
INDUSTRY FOCUS: PHARMACEUTICAL
//“Cilo Cybin was established in 2018 with the vision to transform lives through accessible, effective medical cannabis products,” unpacks CEO Gabriel Theron, with the company’s commitment to scientific research, innovation and high-quality standards ensuring that these products make a genuine impact on users while establishing Cilo Cybin as a genuine industry great.
“Cilo Cybin is dedicated to bringing medical cannabis products to markets worldwide, including Australia, Japan, Thailand, and other countries recognising South African Health Products Regulatory Authority (SAHPRA) Good Manufacturing Practices (GMP) accreditation,” Theron details, of goods known for offering rapid absorption, precise dosing and
targeted relief, to establish them as ideal for various medical applications.
“By adhering to the highest standards of GMP cannabis manufacturing, Cilo Cybin ensures that our medical cannabis products are safe, effective and reliable.”
TARGETING EXPANSION
The company’s core focus is on supplying GMP medical cannabis products, Theron details, to meet the highest standards of quality, effectiveness, care and safety. Two key arms comprise the overall company: state of the art, indoor medical-grade cannabis cultivation in accordance with Good Agricultural and Collection Practices (GACP) and extraction of the cannabis flower, trim and kief with a cold ethanol process. “The former is
// CILO CYBIN WAS ESTABLISHED WITH THE VISION TO TRANSFORM LIVES THROUGH ACCESSIBLE, EFFECTIVE MEDICAL CANNABIS PRODUCTS //
on a small scale, and very boutique, with production of around 50-60 kilos per month possible of triple A-grade dried cannabis flower,” Theron says.
“Cilo Cybin’s cultivation facility provides us with the purest and
Continues on page 48
Bio Leaf Technologies (PTY)
LTD is honoured to be the licensed distributors of Athena Products within Southern Africa.
It has taken a long time to get to this point, but finally, the product is here, and we have already started off on a very strong footing with a good number of facilities having already fully converted onto the program. Our focus will be to provide a product which is not only fully compliant with strict international standards, but also a product which is cost effective, consistent, easy to use, and that can deliver the quality required for both local and international markets. Athena is not just a nutrient company; it is an entire eco system of support and expertise to all growers of cannabis. It is a program which has been tested vigorously and over thousands of runs to ensure peace of mind to all cultivators that if you follow the program, it will work.
The Athena® program was created out of the need for cultivators to have data-driven, easyto-use, cannabis specific products that drive success, whether for one light or a thousand. Our mission is to combat misinformation and share genuine knowledge, processes, and data based on observations in our grow rooms.
ATHENA® IS NOT A NUTRIENT LINE, IT IS A PROGRAM.
INDUSTRY FOCUS: PHARMACEUTICAL
Continued from page 46
most consistent flower, ensuring a medical-grade product that is used both in-house to create our world-class cannabis-derived supplements and medications, as well as internationally. On the extraction side we use both the trim and buy in products to extract, and current capacity is around 100 kilos of biomass per week.
“We are busy with expansion of this ability, and by the end of this calendar year we are aiming to be capable of processing 10 times this amount - a tonne a week.” From this point follows distillation, Theron further expounds, where the crude oil extracted is purified, which is due to be subject to a similar increase from 10 to 100 litres per week. “This will place us as one of the largest on the continent,” Theron reveals.
Various product lines then result from the raw product, including bottling, vaping and an imminent edible range with an accompanying new laboratory, set to multiple this capacity tenfold, too. “Cilo Cybin is also one of the few licensed facilities that is allowed to package finished cannabis products under GMP in South Africa for the local and export markets,” Theron adds.
“We are, today, the only fully vertically integrated cannabis company in the country, meaning that we alone can both cultivate and extract to make final products under one roof. Quality is a further key differentiator for us, due to the regulatory environment associated with South Africa compared to the likes of Colombia, for example, allowing us to compete in the global market.”
The vast majority of Cilo Cybin’s wares are crafted for export, Theron explains, due to the difficulty of selling within South Africa. “Australia is currently one of our largest markets,” he says, “while Europe is central on our radar in terms of our next move.” There has been a definite maturity in the market in the last 12 months, however, Theron perceives, and an uptick in terms of these products landing up in patients’ hands. “We have certainly felt it become easier to operate in, and sell products into, this space - now price and quality become paramount, which suits us perfectly.”
HISTORIC LISTING
Having been the first South African company to win the right to grow, process and package cannabis goods, Cilo Cybin this year racked up another first, this time doing like no-one medical cannabis company ever before it and listing on the Johannesburg Stock Exchange’s Alternative Exchange. The move is part of a concerted bid to capitalise on growth in the legal marijuana industry, which is projected, Theron shares, to grow to more than $40 billion by 2032 - from $12.6 billion in 2023.
“As the markets mature, we want to
Gabriel Theron, CEO
be at the forefront of taking advantage of them,” Theron details of the rationale behind the listing, with funds raised set to help the company, “tap into the growing global investor appetite for alternative medicines,” he adds.
“The entity on the Alt-X is Cilo Cybin Holdings,” Theron further unpacks. “The intention is that it will then acquire a 100% stake of Cilo Cybin Pharmaceuticals, in the form of a share swap, resulting in an entity with no debt, funds in the bank and the ability to scale very quickly.”
Following the combination of the entities, Theron explains, the next step is to start clinical trials for product lines in the cannabis stage, including for drug-resistant epilepsy, before pursuing a Nasdaq for Cilo Cybin listing within the next two to three years.
Theron’s vision is broad, with
a keen eye on involvement in psychedelics, but with cannabis always as the starting point, and current priority. “We have some work to do before we can confidently apply our energies elsewhere,” Theron smiles.
“Even our name points to a move to psychedelics as having been in the offing right from the beginning,” he qualifies, taken as it was directly from that of the key ingredient in magic mushrooms. “We adopted it intentionally, in full knowledge that it was cheeky and risqué,” he closes. “We want to play in the pharmaceutical world, but with alternative, edgy things as well, and we can see that the world is moving that way.
“We set out to be a new-age, new-thinking pharmaceutical company,” Theron stipulates, “and this has always been the pathway that
we have seen ourselves following. We are taking a name, and a concept, and declaring loudly and proudly to people that something which was maybe taboo 10 years ago has now been turned on its head.
“This is how we see ourselves: as we apply our capabilities and expertise to ensure the highest standards of quality and compliance, we want to be the ingredient in the pharmaceutical world that makes the magic.”
IMASFINANCE
Enabling You to Live Your Best Financial Life
PRODUCTION: Sam Hendricks
Co-operative to its core, iMasFinance offers not only trustworthy and affordable finance solutions, including vehicle finance, home loans and personal loans, but also real, applicable knowledge, education and training to empower people to live financially well.
//Owned and operated by its members, iMasFinance offers a wide range of affordable and competitive financial solutions to individuals across South Africa. Instead of focussing simply
on maximising profits, iMasFinance opts to prioritise financial wellness, providing above-average financial lending services at competitive rates while simultaneously sharing profits with members through its level-based
loyalty programme iMasRewards.
“All members have a say in how we run our business,” iMasFinance declares.
“For those who opt not to join the co-operative, but who work for one of our employer partners, there is financial
INDUSTRY FOCUS: FINANCE
education and training available at no cost. Through our wholly owned subsidiary, iMas Insurance Brokers, we offer comprehensive insurance solutions to all individuals, not only those who work for certain employers.
“As a caring financial wellness partner, we strive to empower individuals on their financial wellness journey through training and education.
“iMasFinance exists to help you live your best financial life.”
LIVE FINANCIALLY WELL
Driven to be the most rewarding financial services provider in the market, the organisation has a dual purpose, iMasFinance explains: to create shared value for members and to empower people to live financially well. “Inspired by our company values of teamwork, innovation, trust and ownership, we have a reputation for caring and for putting human beings, not profits, at the heart of everything we do.”
The story of this famously caring financial wellness partner began back in 1937 in Pretoria, originally in the form of an employee society that negotiated
shopping discounts for employees of ISCOR, now Mittal Steel South Africa. “The world may look different from 80 years ago,” the company acknowledges, “but iMasFinance has been your caring financial wellness partner during the good and the bad times.
“We secure the people and things you love no matter what life throws at you.” iMasFinance continues, with its 27 branches nationwide allowing it to be with customers in every stage and season of life.
Financial wellness, according to iMasFinance, is that oft-striven for position of financial stability whereby both current and future expenses can be met, debt managed and savings for both attaining goals and handling emergencies set aside. “At iMasFinance, we know that financial wellness is a part of human wellbeing,” the organisation clarifies. “It’s not something people only think about at home. This is why we don’t just offer finance solutions; we also give people the tools and knowledge to live financially well.
“Financial wellness means being able to access earning, spending,
saving and budgeting resources when you need them, so you can build lasting financial strength and stability. As you progress along your financial wellness journey, you’ll need financial security, plans for the future, access to advice and information, and the ability to live within your means.
“When it comes to financial wellness, knowledge is power.”
TRANSFORMING PERSONAL FINANCE
Group CIO Jaybalan Goonahsylin is adamant that digital transformation is a crucial element of the ongoing journey to bring the 85-year-old finance company into the digital age. A seasoned IT executive with more than 25 years of experience across the telco, ICT and financial services environments, in Goonahsylin’s current role he is accountable for all aspects of group IT including governance and strategy, providing technology vision and leadership in the development and implementation of the company’s digital transformation strategy.
“The financial services industry in particular has experienced significant
Navigating Climate Change:
RISKS AND OPPORTUNITIES FOR NON-LIFE INSURERS
By Soul Abraham, Chief Executive for Retail at Old Mutual Insure
Climate change poses the greatest challenge to the sustainability of non-life insurers, with rising catastrophe (CAT) events like floods and wildfires impacting the sector worldwide. In South Africa, the frequency and severity of these events have led insurers to reconsider their approach, with some even withdrawing from high-risk markets such as KwaZulu-Natal.
At Old Mutual Insure, we’re proactively addressing these risks through advanced data analytics and AI-enabled tools. By integrating satellite imagery and flood data, we can assess and manage climate-related risks more accurately, ensuring sustainable insurance solutions. Additionally, we aim to bridge the significant insurance protection gap, which leaves 71% of South Africans uninsured, heightening the impact of climate disasters.
By working together, insurers, policymakers, and the public can mitigate climate risks and secure a sustainable future for all.
Old Mutual insure – caring for what matters to you most
Contact your broker or adviser or visit our website for information www.ominsure.co.za
technological developments in the last few years to improve client experience, financial inclusion and online security,” he told CIO South Africa, having quickly recognised the urgent need to transform the business from its traditional operating model into a fintech organisation.
“iMasFinance is no stranger to digital transformation and has embarked on its own digital enablement journey to transform the way in which it engages with its clients.
“Technological developments shape the trajectory of how financial transactions are done.”
Digital enablement in the financial services industry is of course vital for companies in remaining competitive and improving customer satisfaction, while achieving operational efficiency and unlocking new opportunities for growth and innovation.
“At iMasFinance, business enablement and customer experience are strategically positioned at the centre of our digital strategy,” Goonahsylin concludes of this key driver of success for financial institutions. “The key objective of this strategy is to enable the business to remain competitive in today’s rapidly changing business environment by leveraging digital technologies.
“Our digital journey will continue as new opportunities arise through the adoption of AI and the emergence of other next generation digital technologies. We will constantly evaluate the use cases of these technologies to identify the benefits and value to our business evolution, to ensure that we remain relevant in a highly competitive fintech market and grasp the potential to reshape finance and drive innovation.”
EXHIBITION CALENDAR
KEY UPCOMING EVENTS ACROSS THE REGION
IMPORTANT EVENTS AND EXHIBITIONS TAKING PLACE ACROSS SUB-SAHARAN AFRICA, GIVING BRANDS A PLATFORM TO TELL THEIR STORY.
SECUREXPO EAST AFRICA OCT 15-17 | NAIROBI, KENYA
DRIVING SECURITY, FIRE & SAFETY INDUSTRY INNOVATION AND DEVELOPMENT
Now in its fifth edition, Securexpo East Africa has built its reputation as the unmissable industry event of the year for security, fire and safety professionals. Welcoming more than 3,000 visitors, 100 brands exhibiting and with industry-leading educational conferences to stimulate inspiration and knowledgesharing, Securexpo East Africa is the largest dedicated industry exhibition and conference. Forming part of the Securex Brand, Securexpo East Africa is one of four continental exhibitions that bring together security, fire and safety professionals across the security supply chain.
AFRICA HEALTH 2024 OCT 22-24 | JOHANNESBURG, SA
Whether you want to source products, make new investments, gain new knowledge or strengthen business ties with the healthcare community, Africa Health is your platform for it all! Held at Cape Town International Convention Centre, Africa Health brings together key stakeholders to collaborate and make healthcare a more sustainable, positive and impactful industry. Discover ways to forge ahead in the business of healthcare through sustainable and innovative solutions that revolutionise healthcare for future generations in Africa.
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AFRICA ENERGY EXPO NOV
4-6 | KIGALI, RWANDA
At Kigali Convention Centre, Africa Energy Expo is the central meeting place for Pan-African public and private networks, international suppliers, and investors to meet, trade, and set progress in motion. Supporting COP 27 Africa climate pledges and Africa Power Vision, a continent-wide movement towards achieving reliable and affordable energy access for all, the event gives country stakeholders a chance to reach beyond their borders and collaborate on much-needed energy infrastructure solutions that benefit the entire continent.
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KENYA AUTO & MOTOR SHOW NAIROBI | OCT 16-19
CLEANTEX AFRICA JOHANNESBURG | OCT 16-18
WORLDVIEW EDUCATION FAIR LUSAKA, ZAMBIA | OCT 21-22
