Forbes Africa Magazine - December 2022 - January 2023

In this issue

There’s fintech, fashion, art, holiday life and sport packed into the December 2022 / January 2023 issue of FORBES AFRICA! The cover story features Africa’s trending unicorns, valued at $1 billion or more and who have become highly coveted among the entrepreneurial class. On the continent, very few can claim this status. FORBES AFRICA spotlights African founders who have scaled these heights, making their mark on the world at large and redefining the story of success. Their rise is starting to validate the potential of African companies. There’s continued news from South Africa, as the country experiences shaky politics as well as frequent power outages. We focus on its impact on small business and how some are even having light bulb moments: such as the founders of loadshedding app EskomSePush. Feast on our colorful fashion spread, an annual editorial fixture this time of year, as we focus on the trending concept of maximalism. Also, get a load on the nifty style and tech products worth the holiday spend this season. There’s more: why the pre-owned luxury fashion market is gaining currency in South Africa. And some great tech stories on the rise of AI art and the cost of deepfakes. In sport, who are the African superstars to watch out for in basketball and football in 2023? All this and more in the December 2022 / January 2023 issue of FORBES AFRICA!

'Desperate Times Need Desperate Measures Or Then Let's Accept Our Fate'

IT WAS WONDERFUL TO SEE THE revival of the Forbes Global CEO conference that was held post Covid in Singapore in October this year. It was great to reconnect with global leaders as well as meet Forbes’ extended family from different parts of the world.

6 mins

The Trials And Triumphs Of Being A Pioneer

BEING THE FIRST OF anything may always feel like an honor but there is a different sort of pressure that comes with that label. Just ask Nonkululeko Gobodo, who in 1987, became the first black female chartered accountant in South Africa.

2 mins

WATER AND POWER: Solutions To Greater Johannesburg's Infrastructure Challenges

Water and electricity-the lifeline of any society! Both at the heart of economic growth and social well-being.

2 mins

VENTURES AND VALUATIONS: AFRICA'S BILLION-DOLLAR STARTUPS

VENTURING INTO THE WORLD OF ENTREPRENEURSHIP IS OFTEN STRENUOUS AND RISKY BUSINESS. BUT THE REWARDS FAR OUTWEIGH THE COSTS. SINCE 2013, THE ADDED PRIZE OF BEING LAUDED AS A 'UNICORN', THAT IS A BUSINESS VALUED AT $1 BILLION OR MORE, HAS BECOME HIGHLY COVETED AMONG THE ENTREPRENEURIAL CLASS. ON THE CONTINENT, VERY FEW CAN CLAIM THIS STATUS. FORBES AFRICA SPOTLIGHTS AFRICAN FOUNDERS WHO HAVE SCALED THESE HEIGHTS, MAKING THEIR MARK ON THE WORLD AT LARGE AND REDEFINING THE AFRICAN STORY OF SUCCESS.

7 mins

A chip off the old block

The ugandan-born CEO of fintech unicorn, Chipper Cash, Ham Serunjogi, grew up watching his parents solve problems. Today, overcoming challenges is a daily routine and forms a culture of thought inherited from his upbringing.

4 mins

Mitchell Elegbe – 'Keep solving problems and getting joy'

Mitchell Elegbe Co-founder and CEO, Interswitch

5 mins

'Education can move the world'

Melvyn Lubega Co-founder, Head of Strategic Partnerships and Director, Go1

3 mins

'Able to build the company to over 200,000 companies'

Shola Akinlade, CEO and Co-founder, Paystack Ezra Olubi, CTO and Co-founder, Paystack

1 min

BACKED BY TECH LEGENDS

Iyinoluwa Aboyeji Co-founder, Andela

1 min

EXPANDING AFRICA'S E-COMMERCE SECTOR

Olugbenga Agboola and Adeleke Adekoya Co-founders, Flutterwave

1 min

DIGITIZING AFRICAN ECONOMIES IN A NEW ERA

Wemimo Abbey Co-Founder, Esusu

4 mins

A Country At Its Watt's End

When will the lights come back? South Africa experienced 2,409 cumulative hours of power cuts by November this year, forcing many small businesses to use generators, or eventually close.

7 mins

When Information Is Power

As co-founders of South Africa's favorite load shedding app, Dan Southwood-Wells and Herman Maritz alert people about rampant power cuts so they can better plan their lives.

4 mins

A 100 Years Encapsulated In Every Sip

How do you sum up 100 years in one evening? Sounds impossible. But not for Glenfiddich, who have, in partnership with Proud Mary, launched South Africa's first 100 Club and Whiskey Vault.

2 mins

Plant Power

A persistent acne problem led Botswana’s Didintle Moreki to look for indigenous solutions in her backyard, and grow her skincare range into a successful business.

3 mins

Art For Advocacy

Jemima Kakizi Akimanizanye is adding to Rwanda's aesthetic appeal with her transformative art and addressing the country's youth population on the cusp of change.

3 mins

Beyond Safaris: Digitalizing Travel

Rwandan-Canadian Charles Shima is deploying technology to create immersive cultural experiences for tourists in Africa. His dream? To build a unicorn in the travel sector.

3 mins

Artificial Intelligence – Enabled Exploration Takes The Guesswork Out Of Gas

Leveraging Google's Al functionality, Deep Learning Café is helping Renergen use the data they have to streamline the process of looking for natural gas.

3 mins

'Intentional About Collaborating Through Meaningful Partnerships'

BRANDVOICE WITH MASTERCARD

5 mins

Lord Of The Landlines

Robert Hale became a billionaire by capitalizing on the technology Alexander Graham Bell patented in 1876. But time’s up and now the 21st century is calling.

7 mins

Beyond STEM

Through Naija Comm, Texas-based Eno Oduok is challenging career stigmas in the Nigerian community and educating people about professions they didn’t think existed.

2 mins

Climate change and investment advocate of Zimbabwe

The award-winning Zimbabwean entrepreneur and philanthropist Edd Branson is leading a green investment drive that currently operates in three continents.

3 mins

Let's Collectively Shape A Sustainable Future

Sustainability has risen to the top of the economic agenda globally as consumers become more focused on reducing their carbon footprint. According to a global consumer survey commissioned by Mastercard, consumers demand that brands be more sustainable. In Africa, 9 in 10 people said that they’re willing to take individual action to combat environmental and sustainability issues.

4 mins

The Rise of AI Art

When award-winning art work can be generated by algorithms, where does that leave artists?

5 mins

WHEN SEEING IS NO LONGER BELIEVING

The misuse of artificial intelligence and cost of deepfakes in a post-truth era.

4 mins

'It's a diamond mine!'

The Royal African Society, which celebrated its 120th birthday recently, continues to be a catalyst for positive change promoting African voices in the United Kingdom and globally.

5 mins

BUILDING BETTER FUTURES ON THE CONTINENT

Professional Services firm, Deloitte Africa recently released its 2022 Transparency and Impact Reports, with the aim of reflecting on its transformation and quality journey, and demonstrating the impact the firm has made on people, clients and society on the continent.

4 mins

Beg, Borrow or Style

The pre-owned luxury fashion market is appreciating in value in South Africa. We sift through helpful hints for prospective buyers – and resellers – and the trend towards conscientious fashion over conspicuous consumption.

8 mins

Leveraging Meaningful Partnerships To Drive Social Change

MultiChoice has partnered with The EarthShot Prize, a global environmental prize aiming to find innovative solutions to the world’s biggest climate change-related challenges.

3 mins

Rags, Not Riches

Ghana is fast fashion’s dumping ground, and unwanted apparel is throwing up on the beaches leading to an environmental crisis.

5 mins

BRIDGING THE HEALTH FINANCING GAP IN AFRICA

Michelle Akande, Vice President of Global Access Financing at Pfizer outlines why building connections across the global health community and developing new solutions has never been more important, especially for Africa.

4 mins

Reflections Towards And Resolutions: A Just Society

Post the Black Management Forum Policy Conference, South African ESG professional and entrepreneur Cuma Dube talks about fulfilling democratic mandates, representative diversity, and a just energy transition.

3 mins

Bringing African Luxury To Skincare

While the African beauty industry is largely dominated by international beauty conglomerates, Belle Nubian seeks to not only challenge these statistics, but also help the continent reclaim and redefine what it considers to be true African beauty.

3 mins

'Crypto Is Not The Future, It's Very Much The Now'

Broadening the financial services landscape from Lagos, Chris Maurice is the 26-year-old helming one of Africa's fastest-growing cryptocurrency companies.

3 mins

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Forbes Africa Magazine Description:

Forbes Africa is the drama critic to business in Africa. The magazine helps readers connect the dots, form patterns and see beyond the obvious, giving them a completely different perspective. In doing this, it delivers sharp, in-depth and engaging stories by looking at global and domestic issues from an African prism.