Forbes Africa - August - September 2021

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In the August-September 2021 issue of FORBES AFRICA, read about Nigeria's fintech frenzy! Africa’s biggest economy has a bright new star – its financial technology industry, which is attracting fresh funding and a raft of new startups, investors and venture capitalists. The unicorns are emerging, slowly but surely, in this hub that’s witnessing a revolution in its bustling financial services space. The sector raised some $439 million in 2020 alone representing 20% of the capital raised by all African tech startups. The growth is down to a number of key factors, namely a youthful population, increase in smartphone penetration and a combination of new regulatory frameworks that have increased the use of cashless payments. Also in this issue, we look at innovations in the oxygen economy. Should South Africa face an oxygen crisis in a severe fourth wave of the Covid-19 pandemic, is it prepared to combat the shortage? We also cover in-depth the recent protests and riots in South Africa, with images from the ground, on how they dented the country's economy and SME businesses. We then look at the new wave of French businesses in Rwanda; there's an essay from Kamala Harris and an exclusive with Hollywood actor and entrepreneur Jessica Alba in addition, whilst we also look at 65 years of the Women's March in South Africa, commemorated on August 9. All this and our regular dose of entrepreneur and change-maker profiles in this issue, out now!

The Pandemic Has Prompted A Surge In Entrepreneurship

The pandemic has prompted a surge in entrepreneurship, voluntary and involuntary. How do we leverage this moment to ensure that everyone who wants to pursue the American Dream can do so? The United States’ first female, Black and Asian-American vice president weighs in on this opportunity.

2 mins

Anger, Anarchy, The Despair Of Business And A People United In Hope

A Fierce Third Wave Of The Covid-19 Pandemic Notwithstanding, The Week That Violent Riots Tore Through The Heart And Soul Of South Africa, Driving The Economy Into Confusion And Chaos, The Week Ubuntu Also Took Over As Ordinary Citizens Rose Together To Pick Up The Pieces Of Their Shattered Present. Forbes Africa Was On The Ground Covering It All As It Happened.

9 mins

Is South Africa Equipped To Handle Such A Crisis?

Faced with a severe shortage of oxygen, India choked for breath at the height of its catastrophic covid-19 pandemic peak in April and May. Critical medical oxygen is usually the first resource to run low during respiratory emergencies. Currently in its third wave and with talk of an impending fourth wave, is South Africa equipped to handle such a crisis?

10+ mins

Covid's Entrepreneur Explosion

High unemployment, the magnifying power of the web and fresh fintech financing are fueling an eruption of startups not seen in decades. And America will never go back to business as usual.

8 mins

Nigeria's Fintech Frenzy: Onwards And Upwards

Africa’s biggest economy has a bright new star – its financial technology industry, which is attracting fresh funding and a raft of new startups, investors and venture capitalists. The unicorns are emerging, slowly but surely, in this hub that’s witnessing a revolution in its bustling financial services space.

10+ mins

Nima Ghamsari Bet Big That Fintech Wasn't Just For Startups

Former semipro poker player Nima Ghamsari bet big that fintech wasn’t just for startups. He has built Blend Labs into a business worth more than $3 billion by weaning the nation’s biggest mortgage lenders of their steady diet of reams of dead trees — and he’s about to go public.

8 mins

‘Need To Be Assertive And Exhibit Boss Behavior'

One of America’s most successful self-made women, Hollywood actor Jessica Alba’s journey to entrepreneurship began 13 years ago. Her business, The Honest Company, debuted on the Nasdaq in May this year. In this exclusive interview with FORBES AFRICA, the Los Angeles-based star speaks about living consciously, taking ownership and her new YouTube series, Getting Honest.

6 mins

Designs On Africa

Through their retail tech platform, Natasha Buchler and Annie Rudnick are also shining a light on Africa’s unsung, talented artists.

4 mins

Scene Stealer

VIMEO WASTED ITS YOUTH STRIVING TO BE AN ODDBALL COMBO OF NETFLIX AND A COMMERCIAL-FREE YOUTUBE. AFTER A HARD REFOCUS ON BUSINESS USERS, CEO ANJALI SUD HAS TRANSFORMED THE NEAR-FORGOTTEN BRAND INTO A $6 BILLION BLOCKBUSTER BUSINESS THAT LETS BOTH MOM-AND-POP SHOPS AND GIANT CORPORATIONS SHOOT, EDIT AND POST MILLIONS OF VIDEOS ACROSS THE INTERNET’S MOST INFLUENTIAL SITES.

6 mins

Farm To Fortune

Olagoke Balogun replicated the local farmers market which ended up as a business selling slick salads and smoothies for the Nigerian on the move.

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.