New Law Will Reveal South Africa’s Huge Pay Gaps
Amendments to the Companies Act will oblige companies to disclose the gap between the lowest paid worker and the top executive
FirstRand
FirstRand to Acquire SCBZ’s Wealth and Retail Banking Business
In line with its strategy to scale up its operations in the group’s broader Africa portfolio, FirstRand is pleased to announce that it has reached an agreement to acquire SCBZ’s wealth and retail banking business. FNB Zambia was started as a greenfield operation 16 years ago and in that time has built a strong brand …
Africa’s Top 25 Finance Leaders for 2025
African Leadership Magazine (ALM) (www.AfricanLeadershipMagazine.co.uk) is pleased to unveil its highly anticipated Top 25 African Finance Leaders 2025 list — a prestigious editorial recognition that honours excellence, innovation, and transformative leadership within Africa's financial services and economic governance landscape. This year's cohort comprises distinguished finance ministers, central bank governors, CEOs of leading financial institutions, and other influential figures who are shaping the continent's economic architecture through visionary policy direction and exemplary stewardship.
The Top 25 list is a testament to the leaders who are championing fiscal responsibility, financial inclusion, and macroeconomic stability across the continent. These individuals have demonstrated a profound ability to navigate complex economic challenges, implement forward-thinking reforms, and inspire confidence in national and regional economies. Their collective leadership has contributed to enhanced investor confidence, accelerated digital finance adoption, and strengthened institutional frameworks that support inclusive and sustainable development. As Africa continues to assert itself as a dynamic player in the global economy, these leaders are setting the standard for excellence in financial governance, demonstrating the strategic foresight and resilience required to unlock the continent's vast economic potential.
“These finance leaders have not only surmounted formidable challenges but are actively shaping a new era of economic growth, transparency, and resilience,” said Dr. Ken Giami, Publisher & CEO of African Leadership Magazine. “Their bold and visionary leadership is redefining Africa's financial narrative and positioning the continent as a rising global financial powerhouse.”
The selection process follows a rigorous two-step procedure to ensure transparency and credibility. First, nominations are gathered from a global pool of experts in the finance and banking sectors, who identify individuals making significant contributions. Then, our editorial board conducts a thorough review, evaluating candidates based on their leadership, impact, and long-term influence on the African financial landscape. This comprehensive approach ensures that we honor only the most deserving leaders, whose work is truly transforming Africa's financial sector.”
The formal recognition and celebration of these leaders will take place at the African Finance Leadership Forum, scheduled for 22 April 2025 at the United States Capitol Building, Washington D.C., USA, on the margins of the 2025 Spring Meetings of the World Bank Group (WBG) and the International Monetary Fund (IMF).
The ALM Top 25 African Finance Leaders 2025:
- Dr. Benedict Okey Oramah – President/Chairman, African Export–Import Bank
- Mthuli Ncube – Minister of Finance, Economic Development & Investment Promotion, Zimbabwe
- Abdellatif Jouahri – Governor, Bank Al-Maghrib (Morocco)
- Jeremy Awori – Group CEO, Ecobank Transnational Inc.
- Situmbeko Musokotwane – Minister of Finance, Zambia
- Johnny Ohisa Damian – Governor, Bank of South Sudan
- Paul Russo – CEO, KCB Group PLC, Kenya
- Samaila Zubairu – President/CEO, Africa Finance Corporation
- Johnson Asiama – Governor, Bank of Ghana
- Olusegun Alebiosu – CEO, FirstBank Group, Nigeria
- Rindra Rabarinirinarison – Minister of Economy and Finance, Madagascar
- Mary Vilakazi – CEO, Firstrand Limited, South Africa
- Mamo E. Mihretu – Governor, National Bank of Ethiopia
- Kennedy Bungane – Group CEO, African Bank, South Africa
- Rama Krishna Sithanen – Governor, Bank of Mauritius
- Idrissa Nassa – CEO, Coris Bank Group, Burkina Faso
- Sheku Ahmed Fantamadi Bangura – Minister of Finance, Sierra Leone
- Carolina Abel – Governor, Central Bank of Seychelles
- Walton Ekundayo Gilpin – MD/CEO, Rokel Commercial Bank, Sierra Leone
- Ferdinand Ngon Kemoum – Group CEO, Oragroup SA, Cameroon
- Dr. Akinwumi A. Adesina, President, African Development Bank Group
- Sheikh Diba – Minister of Finance and Budget, Senegal
- Abdulmajid Mussa Nsekela – CEO, CRDB Bank Plc, Tanzania
- Khaled Al-Mabrouk Abdullah – Minister of Finance, Libya
- Hon. Henry F. Saamoi – Governor, Central Bank of Liberia
Distributed by APO Group on behalf of African Leadership Magazine.
For media inquiries, please contact:
Ehis Ayere
Group General Manager
info@africanleadership.co.uk
+44 23 9265 8276
About African Leadership Magazine:
The African Leadership Magazine, published by the African Leadership Organization (UK), focuses on presenting the best of Africa to a global audience, telling the African story from an African perspective while developing solutions to challenges facing the continent today. We have committed the last 16 years to promoting impactful leadership on the continent and promoting African opportunities globally through an ecosystem of quality Afro-positive content, Africa trade facilitation and market entry solutions, Afro-centric communities and business networking platforms, as well as through public sector training and consulting.
NRF, FirstRand renew programme to support Black academics
NRF, FirstRand renew programme to support Black academics
The National Research Foundation (NRF) has announced the renewal of its partnership with the FirstRand Empowerment Foundation (FREF), aimed at deepening transformation in the country’s academic cohort.
The Black Academics Advancement Programme (BAAP), aimed at supporting the development of Black South African academics and South African academics with disabilities to attain PhDs (Doctor of Philosophy), and acquire post-PhD training, provides funding to applicants or academics seeking financial support for six months, one year and up to three years.
Established in 2018 under an initial five-year contract, BAAP has supported about 347 academics at 26 universities in the completion of their PhDs and in acquiring postdoctoral training.
The programme provides funding to applicants or academics seeking financial support for six months, one year and up to three years.
The maximum funding per year is R300 000 and R400 000 for PhD and postdoctoral respectively.
According to the NRF, the BAAP directly contributes to the National Development Plan 2030 goal of equipping 75% of university academic staff with PhD qualifications by 2030.
A report by the Council on Higher Education revealed that in 2009, only one-third of full-time permanent academic staff held PhD degrees.
“Furthermore, there was a net decline in the number of full-time university academic staff across all public universities over the same period. The impact of the low proportion of suitably qualified academic staff increases the burden of supervision for postgraduate supervisors.
“This burden of supervision, at both the Master’s and PhD levels, increased across all fields of science between 2000 and 2005,” the statement reads.
At the Master's level, the ratio rose from 3.8 to 5.2 students per supervisor, while at the PhD level, it increased from 1.3 to 2.2 students per supervisor over the six years.
NRF’s Acting Deputy Chief Executive Officer, Dr Gugu Moche, said the renewal of the funding agreement by the NRF and FREF is a significant step towards supporting Black academic researchers in South Africa.
FREF Head of Social Investing, Konehali Gugushe, believes that this initiative contributes to the diversification of the research landscape and fosters innovation.
“It is wonderful to see such commitment to the empowerment of under-represented groups in academia,” Gugushe said.
According to Gugushe, the partnership with the NRF demonstrates the organisation’s commitment to addressing inequality, through impactful Public Benefit Activities that promote B-BBEE.
“Our Quality Education pillar is dedicated to the enhancement of access to higher education; improvement of skills and earning opportunities; and the strengthening of institutional capacity to foster sustainable growth in the education sector.”
Meanwhile, she said FREF is fully committed to the establishment of strategic partnerships with organisations like the NRF, which leverage their research and innovation capabilities to ensure the continued delivery of high-impact societal interventions.
“Our partners are essential to realising our shared vision for a better future,” Gugushe added.
The programme will continue until 2028, under the renewed agreement. – SAnews.gov.za
Gabisile
Thu, 02/13/2025 - 14:30
91 views
RMB, TDB and AFC to Spotlight Innovative Energy Financing Solutions at IAE 2025
Top financial leaders in Africa's oil, gas and energy sectors will take center stage at the Invest in African Energy (IAE) 2025 Forum (www.Invest-Africa-Energy.com/) in Paris, offering strategic insights on funding opportunities and the pivotal role of finance in advancing the continent's energy transition. Scheduled for May 13-14, 2025, the event will explore investment strategies, emerging market dynamics and financing solutions needed to unlock Africa's vast energy potential. Featured speakers include:
- Liz Williamson, Head of Energy Corporate Finance, Rand Merchant Bank
- Admassu Tadesse, Group President & Managing Director, Trade Development Bank
- Taiwo Okwor, Vice President, Investment, Africa Finance Corporation
Rand Merchant Bank (RMB) continues to play a key role in financing energy and infrastructure projects across Africa, supporting the continent's energy transition. In partnership with the European Investment Bank, RMB's holding company, FirstRand Bank, recently launched a €400 million initiative to expand renewable energy projects in South Africa, enhancing clean energy supply, reducing carbon emissions and creating jobs.
IAE 2025 (https://apo-opa.co/3C1xE4G) is an exclusive forum designed to facilitate investment between African energy markets and global investors. Taking place May 13-14, 2025 in Paris, the event offers delegates two days of intensive engagement with industry experts, project developers, investors and policymakers. For more information, please visit www.Invest-Africa-Energy.com. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.
The Trade and Development Bank (TDB) has spearheaded numerous high-impact financing projects that strengthen energy infrastructure and promote sustainability across Africa. Notable initiatives include a $150 million Trade Finance Risk Participation Agreement with the African Development Bank to boost intra-African trade and regional integration, expected to support $1.8 billion in trade over three years. Additionally, TDB secured a $100 million facility from British International Investment to finance essential imports and exports for African markets.
Africa Finance Corporation (AFC) remains at the forefront of large-scale infrastructure financing, focusing on critical energy projects that support the transition to cleaner energy sources. Earlier this month, the AFC announced plans to invest over $3 billion in 2025, with priority initiatives including a transnational railway connecting Zambia's mines to Angola's Port of Lobito, as well as investments in renewable energy, electrification, agriculture and eco-tourism to boost regional development. The upcoming forum is set to explore how Africa's energy market is evolving and the innovative financing solutions required to support large-scale energy projects, especially in the oil and gas sector.
Distributed by APO Group on behalf of Energy Capital & Power.
Africa Tech Festival 2024 Showcases Women Tech and Telecoms Leaders, Aims to Positively Impact Africa’s Information and Communications Technology (ICT) Gender Gap
When the 27th edition of Africa Tech Festival (https://AfricaTechFestival.com) kicks off on 12 November at the Cape Town International Convention Centre in South Africa, the spotlight will be on the exceptional women shaping the future of technology and telecoms in Africa. With August marking the celebration of Women's Month in the host country, the event will proudly showcase many of the women leaders driving growth and innovation across the sector.
Taking place from 12 to 14 November, Africa Tech Festival 2024 incorporates AfricaCom, AfricaTech, AfricaIgnite, and The AI Summit Cape Town, which will welcome a cumulative 15,000 visitors, more than 400 speakers, and over 300 exhibitors as it explores enterprise tech innovation and disruption across key sectors such as artificial intelligence, cybersecurity, cloud and data centres, and green ICT.
As the continent's leading platform for technology innovators, specialists, and thought leaders, Africa Tech Festival 2024's agenda includes several prominent female leaders who are making a significant contribution to the industry. Their expertise and insights will provide invaluable perspectives on the challenges and opportunities within the sector.
Key speakers include:
- Faith Burn, Chief Information Officer, Energy and Utilities, Eskom Holdings SOC (View profile) (https://apo-opa.co/4ddn7Ap)
- Nollie Maoto, Group Compliance Chief Data and Analytics Officer, FirstRand (View profile) (https://apo-opa.co/4d5MvYZ)
- Kerissa Varma, CISO, Vodacom Group (View profile) (https://apo-opa.co/3Adtmpr)
- Funke Opeke, CEO, MainOne (View profile) (https://apo-opa.co/3WRoGOR)
- Mary Mahuma, CIO, Southern Africa, Philip Morris (View profile) (https://apo-opa.co/4dbGUk3)
- Motunrayo Opayinka, Founder and CEO, Womenovate (View profile) (https://apo-opa.co/4dd1iRP)
“Africa Tech Festival provides the continent's tech ecosystems with a unique platform from which to collaborate and drive positive change. Building a more inclusive, sustainable world means uniting the world's most inspirational founders, business leaders, policymakers, investors, and rising stars, so we are delighted to see so many inspirational female tech executives featured in this year's speaker line-up. As we celebrate Women's Month, we look forward to their unique insights and contributions,” said Informa's James Williams, Event Director of Africa Tech Festival.
Organisers are confident that the presence of these female industry leaders at Africa Tech Festival will provide impetus to efforts by the industry to be more inclusive, highlighting the opportunities available to women in various sectors, providing insights for women wishing to embark on tech and telecoms careers, and showcasing the successes and contributions of women making their mark within the industry.
“Events such as Africa Tech Festival provide a platform for women to network and to gain exposure to more accomplished women in tech. These role models provide inspiration to women starting out in their careers that they can break the glass ceiling,” said Funke Opeke, CEO, MainOne, who will be participating in the ‘Big Tech and Telcos: Collaborating on Digital Infrastructure Investment' keynote panel.
Speaking on the importance of mentorship for women entering the industry, Mary Mahuma, CIO, Southern Africa, Philip Morris said, “As a female industry leader, I see mentorship as a necessary reminder of our social responsibility to be empathetic, driven, inclusive, and resilient leaders. I am fortunate to have a female mentor who has significantly influenced my leadership style, thinking, and understanding of corporate dynamics and culture.” Mary will be a panellist on the ‘Nurturing Talent and Bridging Skills Gap: Building a Future-Ready Workforce in the Age of AI' panel.
“Women's contributions are significantly transforming the telecoms and technology landscape in Africa through innovation, leadership, and advocacy. Their contributions are not only advancing the industry but also driving social and economic development across the continent. By fostering innovation, supporting entrepreneurship, and advocating for inclusive policies, these women are transforming the tech landscape in Africa,” added Motunrayo Opayinka, Founder and CEO, Womenovate. Motunrayo will share her insights on the ‘Educational Equity Through AI: Tools for Advancing Education in Underserved Areas' panel.
In addition, EQL:LOUNGE creates a space for women in tech to connect directly, and engage in meaningful dialogue, with high-calibre speakers in intimate settings hosting panel discussions, keynote addresses, and fireside chats. Taking place the evening before the event opens, InspiringFifty Africa is a prestigious awards ceremony focusing on recognising the top fifty women making significant strides within the African tech ecosystem.
Register now to secure your spot and join us in shaping the future of technology in Africa: https://AfricaTechFestival.com
In a special Women's Day offer, Africa Tech Festival is offering a 15% discount on Platinum Passes until midnight on 16 August. Passes can be purchased via this link, using the code NWD15 - https://apo-opa.co/3SAYyFh
Distributed by APO Group on behalf of Africa Tech Festival.
About Africa Tech Festival:
Africa Tech Festival, including anchor events AfricaCom, AfricaTech, AfricaIgnite & The AI Summit Cape Town is part of the Informa Tech Connecting Africa event series.
A vibrant celebration of Africa's diverse community of tech champions, Africa Tech Festival is the largest tech and digital connectivity conference and exhibition in Africa, attracting hundreds of exhibitors, more than 400 speakers and more than 15,000 delegates.
SA bank executives coined it during Covid
Banks paid out hefty bonuses, though performance targets were not met
Clairfield International and Rand Merchant Bank announce a formal M&A advisory partnership spanning 32 countries
Clairfield International, a top-ranked Europe-based global corporate finance partnership, and Rand Merchant Bank (RMB) (www.RMB.co.za), a division of FirstRand Bank Limited (part of FirstRand Limited, the largest financial services group by market capitalisation in Africa), are delighted to announce that they formally agreed to partner, marking both firms' commitment to global expansion and delivery of top-quality corporate finance advisory solutions for clients.
This partnership will position RMB as the gateway for Clairfield clients into South Africa, Nigeria, and the broader sub-Saharan African market, while Clairfield opens doors for RMB into Europe, the Americas, and the Asia-Pacific region. Following from Clairfield's successful partnership with top Japanese advisory firm Yamada Consulting in 2023 that covers Japan and the Association of Southeast Asian Nations, this new access to sub-Saharan Africa creates unparalleled coverage for midmarket corporate, private equity, and family business clients worldwide.
Clairfield International advises entrepreneurs, multinational corporations, and financial investors on M&A and other corporate finance solutions with special expertise in cross border situations through over 30 country teams globally. Clairfield International has completed 780 transactions on behalf of clients in the last five years totalling EUR 30 billion in disclosed deal value.
“We are optimistic about Africa's long-term growth, driven by technology, the high demand for infrastructure and rapid urbanisation, and we are eager to explore business opportunities across the continent. RMB has a corporate finance team of over 70 people, and with their reach and expertise on the ground, Clairfield can vastly expand its client offerings across sub-Saharan Africa,” says Alexander Klemm, Executive Chair of the Clairfield board of directors. “This partnership is a transformative step for both firms, enhancing our global footprint. Together we can access exciting global deal flow, buyers, and investors for our clients.”
RMB's award-winning corporate finance team partners local and global clients offering differentiated advice and innovative thinking on strategic topics as well as access to capital to enable their growth ambitions. RMB Corporate Finance has an unrivalled track record in corporate finance advisory in sub-Saharan Africa and is consistently the top-ranked advisor in the league tables in South Africa and Nigeria.
“This partnership underscores our commitment to building an M&A advisory capability that is internationally relevant to our clients,” says Krishna Nagar, Co-head of Corporate Finance at Rand Merchant Bank. “The increase in M&A activity across Africa positions us favourably with companies seeking global opportunities and expertise. Our collaboration with Clairfield has already proven fruitful as interest from Clairfield clients is evident in our mandates. We look forward to a continued partnership and access to Clairfield's expertise in developing and facilitating that global deal flow.”
Distributed by APO Group on behalf of Rand Merchant Bank.
About RMB:
Rand Merchant Bank (RMB) is a leading African corporate and investment bank (CIB) and part of the largest financial services group (by market capitalisation) in Africa – FirstRand Bank Limited (which is wholly owned by FirstRand Limited). We offer our clients innovative, value-added advisory, funding, trading, corporate banking, and principal investing solutions.
With a presence in 10 African countries, we have a significant footprint on the continent. We also have access to a network of retail banks, representative offices and branches across Africa, the UK, India and the US.
For more information visit: www.RMB.co.za
About Clairfield International:
Founded in 2004, Clairfield International provides advisory services on middle-market transactions for large companies, private investors and private equity, public sector clients, and family businesses. Headquartered in Europe with locations in every major region worldwide, we offer clients access to corporates, investors, key decision-makers, and sector experts, combined with a deep understanding of local regulations and cultures. Closing over 190 transactions annually, Clairfield ranks as one of the top independent M&A advisors in league tables worldwide.
For more information visit: www.Clairfield.com
FirstRand Leadership Changes
FirstRand Limited today announced new internal management appointments, all of which are effective from 1 April 2024. Alan Pullinger will step down as group chief executive officer (CEO) and will be succeeded by Mary Vilakazi, currently group chief operating officer (COO). Mr Pullinger leaves a long and successful career at FirstRand, spanning 26 years, including …