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David Adjaye unveils his latest work, the Princeton University Museum of Art

4 May 2021 Comments (0) Featured, Leaders

In late 2020 David Adjaye unveiled the face of the future Museum of Art at Princeton University in New Jersey.

David Adjaye unveils his latest work, the Princeton University Museum of Art

In late 2020 David Adjaye unveiled the face of the future Museum of Art at Princeton University in New Jersey. This is just the latest in a series of high profile buildings that the award-winning dual Ghanaian-British architect has been involved with. Sir David Adjaye, OBE is known for his community-driven projects, his ethos and his imaginative use of materials. The bespoke designs he has shown the world have marked him apart as one of the leading architects of the generation. From private houses to exhibitions and temporary pavilions all the way to major arts centers, is there anything he can’t do?

Early Years of Impermanence on the Continent

Adjaye’s early life was one of frequent moves. Born in Tanzania to a Ghanaian diplomat, he lived in Egypt, Yemen and Lebanon all before the age of nine when he moved to Britain. He was able to see much of the continent, visiting places such as Kampala, Nairobi, Accra and Jeddah by joining his father’s travels. This history of travel would later be showcased in Adjaye’s project, ‘African Architecture: A Photographic Survey of Metropolitan Architecture’ that documented the urban history of fifty four major African cities.

Adjaye states that a formative moment in his childhood was when he realized the difficulties his partially paralyzed brother had to face when going to school. Adjaye noted that the run-down and degrading facility was very inefficient and during his university education he began to think about design solutions that would provide better care for those with less mobility. He describes this as the moment he understood how architecture melds with egalitarianism.

From Houses to Exhibitions, Adjaye’s Career is certainly not boring

Adjaye graduated in 1993 from the Royal College of Art in London, and in the same year won his first bronze medal award from the Royal Institute of British Architects (RIBA). His early works included residential projects, such as the house of his future-best man, Chris Ofili. He also designed Lorna Simpson’s studio-home, and the Dirty House studio. Adjaye’s architecture firm would have its first solo exhibition in 2006 at the Whitechapel Gallery called ‘David Adjaye: Making Public Buildings.’

Things picked up quickly for Adjaye when he was selected to design the Museum of Contemporary Art in Denver that opened in 2007. It was his first museum commission, and was designed in such a way as to minimize the boundaries between the exterior spaces of the city and the interior galleries of the museum. Adjaye was later selected as lead architect for the design of the $540 million National Museum of African American History and Culture in Washington DC. When the museum opened in 2016 it was named the cultural event of the year by the New York Times, and Adjaye’s signature touches included a crown motif from the West African Yoruba Kingdom.

His grandest work yet, the upcoming Princeton Museum of Art

In 2018 David Adjaye won the competition to create the new art museum in the heart of the Princeton University campus and he has just revealed new images of how the building will look. As a former guest professor at the university, Adjaye knows the institution well and his proposal is nothing if not ambitious.

The museum will be open to all and inclusive. Materials such as stone, bronze and glass will intertwine and the project will double the area offered by the original museum. The upcoming space has been described as a campus within the campus. It will have three levels with seven interlocking pavilions connected with intimate spaces. Spread across this impressive area will be nearly 110,000 works of art, with pieces dating back to antiquity standing alongside more recent works. Estimated to be completed in 2024, the building will be one of David Adjaye’s most important personal achievements, along with being one of the most important university museums in the world.

Sources: africatopsuccess.com – stirworld.com

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Who are the three African champions highlighted in the BCG Tech Challengers report?

19 February 2021 Comments (0) Featured, Leaders

Only three African technology companies have been identified in the Boston Consulting Group’s Tech Challengers report: the e-commerce giant Jumia, Kenyan mobile money star M-Pesa and South African e-commerce platform Takealot.

Who are the three African champions highlighted in the BCG Tech Challengers report?

Only three African technology companies have been identified in the Boston Consulting Group’s Tech Challengers report: the e-commerce giant Jumia, Kenyan mobile money star M-Pesa and South African e-commerce platform Takealot. This may not look flattering for the African continent, given the large market share taken by China and other Southeast Asian companies, but it should be noted that African challengers are growing at 11 times faster than S&P 500 companies. Most companies identified in the BCG report are growing at only 6 times faster. Technological companies are also being created in Africa at a rate of 2.5 times more than in the United States. The landscape is changing, and these three champions may only be the first of many African Tech Challengers.

Jumia – The ‘Amazon’ of Africa?

Launched in Lagos, Nigeria in 2012, Jumia has expanded from simply offering e-commerce, and has built Jumia Travel for hotel bookings, and Jumia Food for door to door food delivery. It is estimated that over 78% of online purchases in Africa have been placed through Jumia, making the company a truly successful enterprise. On top of e-commerce, Jumia acts as a logistics service, enabling shipments from seller to consumer. By partnering with over 300 couriers and using proprietary technology to track delivery routes they appear to have overcome the continent’s infrastructure issues, and have since opened the logistics to non-Jumia orders. To help facilitate the take-up of e-commerce in Africa, Jumia Pay was launched to process payments and this integrated approach has given the e-commerce giant a way of accessing markets outside of the major cities.

M-Pesa – Mobile Money from the East Coast

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Launched in 2007 by the multinational mobile company Vodafone in collaboration with local provider Safaricom, M-Pesa is an app-based mobile phone fintech service from Kenya. M-Pesa allows users to transfer money and pay for goods and services using just a mobile phone. A network of agents across the continent include airtime resellers and retail outlets acting as banking agents for cash withdrawals and deposits. M-Pesa currently has around 41.5 million users across the continent, with nearly 99% market share in Kenya. Offering microfinance and short-term loans, M-Pesa has offered easily accessible banking services to many in a continent with remarkably low access to traditional banking providers. Much has been written about how apps like M-Pesa can help lift people out of poverty while also making a profit.

Takealot.com – Black Friday sales come to Africa

As an e-commerce platform competing against Jumia and Amazon, Takealot offers a service that is not likely to be called unique. Nonetheless, with over 2,500 third-party businesses using the Takealot marketplace to sell to over 1.8 million shoppers in South Africa, their success is very real. While the core of the business is an e-commerce platform connecting shoppers and vendors, they have since expanded, acquiring multi-restaurant delivery service Mr. D Food and opening distribution centers across the Western Cape, Kwa-Zulu Natal and Gauteng. Notably, they were the first African e-commerce platform to take part in the ‘Black Friday Sales’ that are notorious in other parts of the world. 

While tech companies from Africa have yet to reach the global scale that Amazon or Alibaba have managed, tech challengers on the continent prove that success in emerging markets is not due to the ability to copy existing technology, but to develop new products specifically designed to solve the unique problems found in the emerging African markets – from a lack of infrastructure to low access to banking services, to simply connecting buyers and vendors. These three companies are just the first African tech challengers we can expect to see get global recognition.

Photos : Teknolojia-news.com – bcg.com

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Mashal Waqar: Beyond the Glass Ceiling

13 November 2020 Comments (0) Leaders

Mashal Aqar is another female leader breaking the glass ceiling and showing the way for the next generation of female leaders. 

In the last two decades, we have seen a dramatic and heartening increase in the number of women breaking through the corporate glass ceiling to take up top executive positions within many of the world’s leading companies as well as female entrepreneurs building their own companies. 

Two sectors where we are seeing lots of strong women executives are the fields of technology and digital media. Within digital media, many of the sites and companies are not only women-led, but also women-focused, and one such company is The Tempest, an American company aimed at millennial and Gen Z women. And sitting close to the top of The Tempest’s corporate tree is Mashal Waqar, co-founder (with Laila Alawa) and COO. 

Background

Waqar was born in Saudi Arabia on 18th January, 1995. Her parents are Pakistani and she is the oldest of three children. She majored in computer security and international business at Rochester Institute of Technology and was awarded a BS (Bachelor of Science) degree.

While at Rochester, she founded the WRITERS magazine and acted as editor-in-chief for the duration of her time at the university. She was also the president of the student government and acted as a tutor and mentor to younger students. Waqar co-authored a research paper examining the challenges faced by female entrepreneurs. 

Her primary residential base is Washington D.C., but she also spends time in Dubai and Toronto. 

Career

Along with Laila Alawa, Waqar co-founded The Tempest in August 2016. They state that their purpose is to be: “…the destination for diverse women to share, inspire, and celebrate life through storytelling, experiences, and a global community.”

Their target audience is the female leaders, entrepreneurs, and creators of tomorrow. The team comprises more than 30 full time staff based around the world as well as a contributory team of more than 1,500 writers. The company has a presence in several major cities, including New York, Dubai, London, and Toronto. Waqar has served as COO since the company was founded. 

Since January 2018, she has served as a mentor for the Techstars Startup Weekend events, a 54-hour event held in many cities where everyone from developers to designers to marketers come together to network, discuss innovative ideas and products, and even form startups during the event. 

Since March 2018, she has also worked as a mentor for Sheraa, a civic organisation in Sharjah, United Arab Emirates, aimed at creating the city’s next wave of entrepreneurs. 

Achievements

Waqar was named as ‘Young Leader of the Year’ at the 19th Global WIL (Women in Leadership) forum in 2017. In 2019, she was named in Forbes’ Middle East ’30 under 30’ list. She regularly gives talks on the cyberbullying and trolling women experience online and is also an active disability rights advocate. 

With women like Mashal Waqar not only breaking through the glass ceiling but guiding and mentoring the next generation of female leaders and entrepreneurs, the future’s looking bright. 

Photos : moose-jaguar-7xk3.squarespace.com and Facebook

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African women making strides in technology

23 July 2020 Comments (0) Featured, Leaders

In recent years, there has been a notable resurgence in the matriarchal influence of African women. This resurgence is not only breaking down the former barriers of gender disparity but also helping to influence a new generation of African girls. While this new wave of strong African women crosses several business sectors, it is perhaps nowhere more evident than in the field of technology. These ‘TechWomen’ are not only making their mark in their chosen field, but are helping ensure there are training and work opportunities for other women and girls. There is also now a junior version – TechGirls – aimed at introducing African girls aged 15-17 to STEM. 

African Women’s Day.

Many of these women will be recognized this coming July 31st as part of African Women’s Day. This date was chosen at the first congress of PAWO (the Pan African Women’s Organisation) on 31st July, 1974. It was chosen in recognition of the first ever Pan-African meeting of women (Conference of African Women – CFA) held on that same date in Tanzania in 1962. 

TechWomen

TechWomen is not just a name given to these African women succeeding in the technology sector. It comes from the organisation of the same name, set up by the U.S. Department of State’s Bureau of Educational and Cultural Affairs in 2011. It targets women from Africa, the Middle East and Central Asia who show potential in the fields of science and technology or who need support with innovative ideas. Each year, 100 women are chosen and flown to California and then Washington. In those cities, they are welcomed by more than 50 of the world’s leading companies including Microsoft, Google, Twitter, etc. 

Objectives 

The primary objective of the TechWomen scheme is to support the next generation of female innovators and leaders in STEM (science, technology, engineering and mathematics) subjects and to offer them access to the leading global companies for mentoring and employment opportunities. Over 200 volunteer mentors and ‘teachers’ from some of the world’s leading corporations give their time to help each year’s winners. There are training courses, lectures, workshops, as well as one on one session to assist the women with any current solo or group projects. 

Moroccan Laureate

One of 2019’s Moroccan laureates was Lamia Fikrat, the winner of her local ‘edition’. She holds an initial degree in engineering from Paris’s Ecole Centrale as well as a Masters in Management from London’s ESCP graduate school. Her fields of interest include the circular economy and also sustainable development (the latter being a huge focus across Africa). As part of their time in the U.S., participants spend a short period in a mentorship placement. For Fikrat, that was with San Francisco’s Environment Department, SF Environment. Fikrat was enthusiast about her experience and the opportunities it affords her fellow countrywomen: “Participating in the program has been an incredible networking opportunity in Silicon Valley. I strongly encourage Moroccan women to apply for it.”

From Tunisia

Tunisia has been involved with TechWomen since 2012. One of their 2016 laureates was Raouhda Lagha, an engineer who works for Sofrecom Tunisia. Sofrecom promote diversity, multiculturalism, and gender equality, so the inclusion of Lagha was a source of immense pride for the company. 

Lagha is also a team leader at Sofrecom, part of their policy of encouraging women to not only pursue scientific and technical careers, but also to seek leadership positions and to move up the management ladder. 

Lagha said of her Techwomen experience: “”Cultural mentorship is particularly useful for people like me working in an international company. It’s important to fully understand the cultural codes and behaviors of contacts and avoid offending people who might have different viewpoints.”

To the Future

As the battle to break down the barriers of gender disparity in Africa continues, programs such as TechWomen and other schemes that offer mentorship and investment are crucial. Equality in the workplace, and in education, are crucial components in the progress of the continent as a whole. Hopefully, TechWomen will continue for many years to come and will recognize the many outstanding women in STEM fields. 

Photos : europeansting.com – sofrecom.com – htxt.co.za – leconomiste.com

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Laureen Kouassi-Olsson : a new wave of female leaders

28 May 2020 Comments (0) Leaders

Although Africa’s economy has shown steady growth in recent years, as well as shifts from consumer consumption to rises in exports and inward investments, 2020 may not be such a good year. A recent World Bank report estimates that, as a result of the Covid 19 crisis, economic growth in sub-Saharan Africa could decline to between -2.1% and -5.1% in 2020. 

How severe this will be is going to depend on how individual countries and the region as a whole respond to the pandemic but this would be the region’s first recession in 25 years. Perhaps now than any other time, those businesses and entities promoting investment in the region have a bigger task than they have previously faced. 

Amethis: Not Just a Silent Investor

One organisation at the forefront of that challenge is investment fund management group, Amethis, who have been operating in Africa since 2013 and who have an investment capacity of more than €725m. Amethis provides seed and growth capital to promising businesses and entrepreneurs in various sectors across Africa including the sub-Saharan region. 

Amethis does not just operate as a silent investor: they work as active and key shareholders in the businesses they invest in, offering support and on the ground expertise when needed, as well as nurturing growth and access to international markets through their global network. 

A Strong Policy of Encouraging and Promoting Talented African Females 

Another positive factor about Amethis is their strong policy of encouraging and promoting talented African females to leadership positions. With gender disparity still a major issue in African corporate entities, this policy not only helps shatter the glass ceiling, it also acts as an encouragement to young African women. 

Heading up Amethis’ West African office is Laureen Kouassi-Olsson who is based in Abidjan in the Ivory Coast. Kouassi-Olsson has responsibility for investment strategy in much of the sub-Saharan financial sector and her responsibilities includes identifying potential deals and then structuring and supervising those deals. She also manages Amethis’ financial institutions investment portfolio. In addition, she oversees Amethis West Africa, an investment vehicle that is dedicated solely to the Francophone countries of west and central Africa. As if those responsibilities were not enough, she serves on several boards of directors, including Ciel Finance in Mauritius, Petro-Ivoire in Ivory Coast, and the Board of Fidelity in Ghana. 

Qualifications and Career of Laureen Kouassi-Olsson

Born in the Ivory Coast, Ms. Kouassi-Olsson is fluent in both French and English. She graduated from Lyon’s EM Business School with a Master in Science of Management. For her degree, she specialised in Corporate Finance and Capital Markets. After graduation, she worked for Lehman Brothers Investment Banking Department in London as a Mergers & Acquisitions analyst for two years. She then moved to Proparco’s Financial Institutions Group as an investment officer where she held responsibility for appraising and structuring opportunities in the financial services industry throughout the sub-Saharan area. 

Kouassi-Olsson joined Amethis in Paris in 2013 as investment director and head of financial institutions. She held similar responsibilities to her post at Proparco as well as taking charge of Amethis West Africa with total investment funds of €40 million. She also represented Amethis at various conferences in Africa and in Europe. 

In 2016, she returned to her homeland as Regional Head with continued responsibilities for Amethis West Africa and also taking charge of sourcing deals, investor relations, and fundraising. 

Females Leading the Way

Kouassi-Olsson, along with Fatoumata Bâ – founder and CEO of African unicorn Jumia – was the subject of the recent “Regards de Femmes” meeting held in Paris in March. The two women were chosen not only because they symbolise success in what was traditionally a male-dominated sector, but because they illustrate an increasing feminine dynamic in several business sectors across Africa. 

As Ms. Kouassi-Olsson said at the meeting: “… we must contribute to the emergence of the next generation of women leaders on the African continent, we must inspire and serve as a model through our actions and our commitment. My fight is to demonstrate that there are no impossible but the limits that we set for ourselves, and that we must all transform adversity into an opportunity to have an impact on our societies. “

The Gender Disparity Must Be Eroded in Africa

With women such as Ms. Kouassi-Olsson in leading roles, the gender disparity that has plagued Africa for so many years will continue to be eroded. Young African girls can look to these strong women as ideal role models for the next generation.

Photos : jeuneafrique.com – agefi.fr

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Zindi: finding solutions by encouraging competition

9 April 2020 Comments (0) Leaders, Non classé

Social enterprises, companies, and NGOs are always looking for new and innovative ways of solving problems that can be used in real time and in real situations. Cape Town-based Zindi, founded in 2018, have combined that aim of solving problems with the natural competitive spirit that exists in us all. 

Zindi works by bringing together any organisation – including private sector companies, government bodies, or NGOs – to put together a challenged based on data. Their platform has more than 9,000 data scientists from across Africa already enrolled, and they can choose to join any particular competition, submit their solutions, and gain points to move up a leader board and win cash prizes. To date, the highest prize pot has been $12,000, and it was split between the top three data scientists in that competition. 

A good example of what they are trying to achieve is the completion being held for FarmPin, a South African startup that wants solutions as to how to classify fields by the crop type they produce or can produce. Their idea is to find a simple process combining satellite imagery with the smart phones now so common across Africa. Step forward Zindi who brings together the data scientists vying for the $10,000 prize. This brings together experts in that particular area who may have little work at the time and helps to produce a practical solution that can help increase crop yields in areas that need it.

Corporate Interest 

A good indicator of how well a startup is performing – or how good their idea is – is the interest that comes from corporate giants. And it hasn’t taken long for Zindi to come to the attention of a couple of major companies both within and outside Africa. 

African communications giant, Liquid Telecom, which operates across much of Eastern and XCentral Africa, has been hosting competitions on its network on behalf of Zindi. And in August of 2029, Zindi announced a partnership with Microsoft which will see the corporate behemoth’s cloud based system, Azure, powering Zindi’s platform. Microsoft will also host and provide the prize money for another two competitions to support Africa’s AgTech industry. 

The Continent’s First Ever Inter-University Machine-Learning Hackathon

But Zindi look beyond current data scientists and have one eye on the future of Africa. Their latest project sees students from across Africa invited to take part in the continent’s first ever inter-university machine-learning hackathon. The idea is for the students, in teams of up to four, developing machine-learning solutions to one of three real-world problems. 

UmojaHack Africa offers the winning team a share of $2000 for them and a share of $15,000 for their university in each challenge as well as runners-up prizes. With reams registered from universities from more than 10 African countries, Zindi CEO, Celina Lee sees this as an ideal model to both stimulate student interest in their projects and to find real solutions that can be applied across the continent. 

The competition is sponsored by African Bank and Alliance4AI, and Data Science Nigeria is also on board as a regional partner. 

As Africa’s tech sector continues to grow, startups such as Zindi will continue to lead the way, bringing together established and experienced data scientists with the best students Africa’s universities has to offer. 

Photos : globalafricanetwork.com / aiexpoafrica.com /

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Danièle Sassou Nguesso : Breaking Down Gender Barriers

20 January 2020 Comments (0) Leaders

In a continent which has suffered from gender disparity for so many years, the recent spate of stories about strong African women gaining prominence at every level of society has been an encouraging and heartwarming trend. These women, more than any other factor, are what will inspire a new generation of African girls to stay in education and to pursue their dreams. One such woman is 43-year-old Danièle Sassou Nguesso. 

Born in Dakar, Senegal, in 1976, Nguesso had a privileged upbringing, something that made her even more aware of the many who were not so lucky. Her mother had a PhD in Pharmacy and her father was a doctor, and Nguesso studied in Paris, first gaining a Baccalaureate in science at 17, then later qualifying as an optician at the Ecole Supérieure des Opticiens de Paris. After some time working in France, Nguesso decided to return to Africa and she opened her first optician’s shop under the brand name, “Optical”, in Libreville, Gabon, in 2003, notably becoming Gabon’s first female optician at the same time. The brand is now well-established in five major African cities. 

Danièle Sassou Nguesso : to facilitate the empowerment of women

At that point, Nguesso could have continued on the standard pathway of many entrepreneurs, focusing purely on building a business empire. But her travels around Africa made her realise she wanted more than that. Everywhere she went, she saw gender disparity and institutionalised discrimination, which were leading to a continued marginalisation of women as well as physical and psychological abuse. She also saw how the poorest and most vulnerable children were denied access to education and she realised that among these children could be future doctors, future authors, or future leaders. 

In 2008, she set up Le Petit Samaritain to promote and support access to education. Then in 2015, she set up the SOUNGA Foundation in order to break down gender barriers and to facilitate the empowerment of Congolese women. As Nguesso says: “It is important for our girls to receive the same training like our boys; so that they can pursue the same jobs opportunities as their male peers.”

The foundation has set up several projects in order to support women towards those opportunities. “Sounga Nga” is an incubator project that offers training in skills such as accounting and marketing to women looking to set up businesses. The project also offers low-interest loans to help the women capitalise their business. 

The Sounga Gender Label partners with various Congolese Ministries as well as private organisations to encourage good corporate governance and to promote the employment of women across several sectors and levels. 

And the Sounga Focus Group is an annual study of what women at every level of Congolese society is thinking and feeling and a way of identifying socio-cultural needs. This allows the foundation to then feed their findings back to the government in an effort to facilitate change.

Her family connection as a major advantage

One difficulty Nguesso does not face is communications with the government. She is married to controversial Congolese politician, Denis-Christel Sassou Nguesso. He is the son of Denis Sassou Nguesso, who has been President of the Republic of the Congo since 1997. Her husband is also tipped to replace his father when he eventually retires. She sees her family connection as a major advantage as she does not have to navigate the mazes of bureaucracy in order to get her powerful and important message across. 

Despite her schedule with the foundation, and having four children to raise, Nguesso completed a Master’s in Politics and Development Management at Sciences Po in Paris in 2016. And in 2018, she was awarded the African Inspirational Female Leader of the Year award at the East African Business Summit & Awards. With plans to continue expanding the foundation across Congo and other countries, Nguesso is inspiring and supporting thousands of young African women and girls. 

Photos : elle.ci / Facebook / magazine.inafrik.com / griote.tv/

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John Dodelande, curator of contemporary art, launches a reference database for Chinese Contemporary Art

16 January 2020 Comments (0) Leaders

John Dodelande

John Dodelande has been active in the contemporary art market for more than ten years. He has more specifically focused his collection on Chinese contemporary art works and young artists of the new generation (Wang Yuyang, Wang Sishun, Wang Guangle among others…) who are moving away from both the aesthetics and the spirit of his elders (notably the cynical realists movement which became known to a large audience at the international level by artists such as Yue Minjun, Ai Wei Wei…).

Like all market players, he was led to question the tools available to him to carry out his day-to-day business, particularly in the digital environment.

Beyond the institutional websites and networks of the auction houses and the databases most used by practitioners (Artnet.com, ArtMarket.com, Artprice.com), he noted the monopoly of certain players on the one hand, and on the other hand, the fragmentation and splintering of information and the difficulty of sorting through dozens or even hundreds of sources, each of which obey their own logic and their own rules.

Thus, he most often felt that he had to define for himself the parameters and criteria that would enable him to guide his choices and actions.

With regard to the field that interests him more particularly that of contemporary art and Chinese art in particular, he noted the absence of a relevant, effective and pragmatic reference tool capable of identifying works and artists, of drawing up an inventory of the market and practices and finally of guiding the choices of market players.

John Dodelande confides to us: “Being myself a Digital Native, the world of social networks, digital tools are my usual environment. However, I very quickly had the feeling that I couldn’t find what I was looking for and that I was wasting a lot of time because I didn’t have a real database organized by type of market, category of works, which would take into account the geographical and economic dimension, which are fundamental factors in understanding the market as a whole”.

John Dodelande is thus developing with partners a new tool that is destined to become the reference database for Chinese Contemporary Art and, in the long term, for Asian Art in general. This database, accessible to the general public free of charge for its educational presentation component, will be available by subscription to professionals who will have access to valuable information on artists, works and transactions, providing an overview of this particular market and its evolution.

It goes without saying that John Dodelande’s vocation is to deploy this technology on other target art markets and even other sectors of activity.

John Dodelande is expected to announce the launch of this innovative platform in 2020.

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Dr. Bouamatou: breaking down the gender barriers in banking

29 November 2019 Comments (0) Africa, Leaders

While it would be fair to say that actual talent in the world of finance is distributed equally by gender, it would also be fair to note that this talent is not equally distributed among the top tiers of management. In fact, it was only in October 2019 when the Royal Bank of Scotland announced that Alison Rose would be its next chief executive that a woman finally reached the top position in a global bank. The same month, Citigroup named Jane Fraser as President, a move many commentators see as preparing her for the CEO position. IMF figures show that only 2% of banking CEOs globally are women. 

There is plenty of female talent within the finance industry, but generally, the glass ceiling tends to hold them back from the top positions. That glass ceiling often means salary disparity too. In January 2019, Citigroup revealed that its female employees receive on average 71% of their male counterparts. Given that they have over 200,000 employees, with more than half of them women, hopefully, this honesty will see the pay gap closing. 

In emerging economies, the appointment of women to top positions is doubly important. Not only does it address gender disparity, a major issue in many African and Latin American countries, but it also helps the institutions connect more readily with the 1.8 million unbanked women that the World Bank is targeting in Africa and Latin America as part of their 2020 financial inclusion goals. 

Dr. Leila Bouamatou : An Impressive Credentials 

One such woman who currently stands out is 35-year-old Dr. Leila Bouamatou, who is currently Managing Director and Board Member at Générale de Banque de Mauritanie (General Bank of Mauritania). Dr. Bouamatou holds a Master’s Degree in Finance from Barcelona’s EADA Business School, an Executive MBA in Business Administration from South Mediterranean University, and a Doctorate in Business Administration from Fox School of Business & Management. Impressive credentials quickly silenced any critics who say she gained her position through her father, Mohamed Ould Bouamatou, who founded GBM in 1995 as the first private bank in Mauritania. 

Dr. Bouamatou trained in Tunisia with Deloitte’s, with MediCapital Bank in London, and then with BMCE Bank International Plc – who specialize in African investments – also in London. She had just been offered a lucrative contract in London when her father asked her to return home and join the treasury department of GMB. She served as Head of the Treasury Department for 10 years, before being promoted to managing director and board member.

While Mauritania is one of the poorer African countries at the moment, economic development looks good, thanks mainly to a program of reforms which will hopefully be continued by the new president, Ould Ghazouani, who won the election of June 2019, taking over from retiring president, Mohamed Ould Abdel Aziz. On an optimistic note, it is worth remembering that this was the first peaceful change of ruler since the country gained independence from France in 1960. Those reforms have meant that Mauritania is ranked in the top 10 of global reformers. But it is also worth noting that the country continues to have a large foreign trade imbalance though GDP is forecast to rise by 5.2% in 2019 after two years’ steady at 3.5%.

To Break Down the Disparity Barriers in Africa

Dr. Bouamatou is a huge supporter, not only of financial inclusion for women but also of empowerment and breaking down the disparity barriers across the continent. Speaking to her alma mater, Fox School of Business & Management, she said:

“Women are getting more and more educated and becoming more and more ambitious. Fathers are more and more supportive of their daughters and more open-minded, compared to previous generations.”

Dr. Bouamatou is married to Tah Meouloud, a fellow graduate of Fox School of Business & Management, and an economist who was head of human resources at BSA subsidiary BSA Technologies. They have two children.

A Statement against Discrimination against African Women 

Dr. Bouamatou always wears an El-melhfa, a traditional piece of cloth which covers her from ankles to face. While many see El-melhfa as a Muslim tradition, it is more a Saharawi tradition, one which is worn by all religious and ethnic groups of the Saharawi. It is a symbol of Saharawi pride and resistance, especially in what these people view as ‘occupied territories’. Because of its visibility, wearing it can often lead to discrimination against women. By choosing to always wear it, Dr. Bouamatou not only acknowledges her heritage, but she also makes a statement against discrimination against women throughout Africa.

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Barclays Africa lifts profit, looks to Nigeria for growth

1 March 2018 Comments (0) Actualites, Africa, Business, Economy, Leaders, Politics

By Ed Stoddard

(Reuters) – Barclays Africa Group, South Africa’s No.2 lender by market value, plans to extend its reach throughout the continent, it said on Thursday after posting annual profit up nearly 4 percent.

Chief Executive Maria Ramos said the bank, which is changing its name back to South African brand Absa after its split from former parent Barclays, aims to enter Nigeria as it seeks to lift its share of the African market to 12 percent from 6 percent over the medium term.

Finance Director Jason Quinn told Reuters that Nigeria has been in its sights for some time.

“We would have to think carefully about how and when to enter the Nigerian market and that is what we are going to start doing,” he said.

“We have to decide how we enter, whether we acquire or build.”

The bank had earlier reported normalised diluted headline earnings per share — the primary measure of profit in South Africa, stripping out one-off items — up 3.9 pct at 1,837.7 cents for the year to Dec. 31, helped by a 20 percent drop in credit impairments.

Net interest income, a gauge of lending profitability, rose by 1 percent to 42.32 billion rand ($3.56 billion), while its net interest margin was unchanged at 4.95 percent.

Growth in the United States was the positive surprise in the second half, even as Europe, Japan and China grew at or above consensus expectations, the bank said.

This more than made up for slow economic expansion in its main markets, which account for about 80 percent of group income.

Barclays Africa and its rivals have struggled to increase lending as slowing economic growth in many African markets tempers demand from corporate clients while retail clients in its home South African market feel the squeeze from rising interest rates.

However, confidence in its domestic market has been buoyed by the Cyril Ramaphosa’s elevation to the South African presidency last month, pledging to revitalise the economy.

Barclays Africa said it expects growth in loans and deposits to improve in 2018 and forecast stronger loan growth from the rest of Africa. It also forecast stronger loan growth in corporate and investment banking in South Africa.

($1 = 11.9025 rand)

(Additional reporting by Tiisetso Motsoeneng in Johannesburg and Esha Vaish in Bengaluru; Editing by Stephen Coates and David Goodman)

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