EXPAND YOUR BUSINESS HORIZONS EXPAND YOUR BUSINESS HORIZONS IMPROVED SUSTAINABILITY THROUGH PROPER IT ASSET DISPOSAL (ITAD) THE 2023 SOUTH AFRICAN PLUS: CAR OF THE YEAR GREED, CRIME AND PUNISHMENT MTI WINNERS ANNOUNCED IS A PONZI SCHEME, STEYNBERG FINED R64 BILLION Vol 23 - ISSUE 3 / 2023 CEO GLOBAL MAGAZINE AFRICADAY GREATEST THE CONTINENT HAS CHANGED, ECONOMIC CHALLENGES JUNE Vol 23 R39.99 IN SOUTH AFRICA TODAY BUT HAS OUR NARRATIVE?
INVEST FOR A FUTURE THAT MATTERS – TOGETHER How we invest today determines our tomorrow – a future shaped by a collective voice and vision that has the power to impact our world. By placing ESG at the heart of everything we do and investing in the things that matter most, we can achieve sustainable, long-term returns for our clients – while creating growth and opportunity for Africa. Invest with Africa’s most responsible investor.* Visit oldmutualinvest.com/institutional to invest for a future that matters. INVESTMENT GROUP DO GREAT THINGS EVERY DAY Old Mutual Investment Group (Pty) Ltd is a licensed financial services provider. *Awarded Best ESG Responsible Investor – Africa 2021, by Capital Finance International (https://cfi.co/).
LETTER FROM EDITOR AFRICA. WILL A SINGLE CURRENCY WORK? Having fallen victim to international exchange rates, many African countries have had to bear the brunt of ridiculously low exchange rates against the dollar and the Euro. Some countries like Zimbabwe in specific are a good example. This situation of having 33 currencies in Africa is certainly detrimental to our economic future. I, like so many others, believe that having a single currency system in Africa could bring several benefits to the continent: Facilitating trade: A common currency would eliminate the need for currency conversions between African countries, making it easier and cheaper for businesses to trade across borders. This would certainly lead to increased trade and investment within the continent, which could help to boost economic growth. Promoting regional integration: A single currency would help promoting regional integration and unity among African countries, which could lead to closer political and economic ties. Increased financial stability: A common currency could help to reduce exchange rate volatility and the risk of currency crises, which could help to promote financial stability within the continent. True value: A single currency will be much stronger against the three major world currencies, thus having a much more realistic exchange rate, that will reflect the realistic economic value or worth of Africa. Yes, there are also potential challenges and drawbacks to creating a single currency system in Africa. Economic disparities: African countries have varying levels of economic development, which could make it difficult to establish a single currency system that works for all countries. Lack of fiscal integration: For a common currency system to work effectively, there would need to be greater fiscal integration and coordination among African countries. This would require significant political will and cooperation, which may be the biggest challeng to achieve. Competition with other major currencies: The US dollar and the Euro are currently dominant currencies in global markets, and it could be difficult for an African currency to compete with these established currencies in terms of international acceptance and stability. I believe there are potential benefits to having a common currency in Africa. There are also significant challenges that would need to be overcome to make it a reality. It will be worth it for our governments to work as a team to establish such a currency as it will be to the benefit to all of Africa’s citizens. With the potential of Africa’s growth and with Europe on the decline this is the opportune time to really give serious attention to our own Continental currency. See the article in this issue by Lee Naik on financial literacy as I deem it to be essential for a One Currency Africa. Annelize Wepener Editor CEO GLOBAL MAGAZINE.COM ISSUE 3 VOL 23 3
contents 26 Making it easy and affordable for SMES to move to the cloud INDEX OF THE MAGAZINE VOL #23 08 The QSR delivery App shift: from 28 marketplace to dedicated app COVERstory The 2023 South African Car of the Year Winners Announced 03 Letter from Editor Improved sustainability 20 through proper IT Asset disposl (ITAD) 10 ONpoint Cost averaging 11 Greater Than the Sum of its Parts 14 J2 Software recognises collective responsibility for Cybersecurity 16 Private sector complements Goverment’s efforts to bridge digital divide 18 TROYE and ARCTIC WOLF join forces to protect businesses against advanced cyber threats 22 Creating an agile tech environment for retailers 24 TAFCFTA: Celebrating the Africa we want 4 VOL 23 ISSUE 3 CEO GLOBAL MAGAZINE
30 INtheKnow Microsoft Releases Dynamics 365 copilot: The next-generation AI solution for CRM 32 The changing role of CIOS in modern business 34 Humans remain the number one attack vector 36 Africaday: The continent has changed, but has our narrative? 38 Greed, Crime and Punishment: MTI is a ponzi scheme, Steynberg fined R64 Billion 42 Publisher CEO Global (Pty) Ltd 48 Greatest economic LIFEstyle Tel:+27 82 883 4901 challenges in South [email protected] Africa today Goal Setting www.ceoglobalgroup.com 44 Building Equality and Chief Executive empowerment in the male- Annelize Wepener dominated world [email protected] 46 Why Financial literacy matters in a Patron for CEO Global Foundation world of disruption Lucy Quainoo 76 Why all AfrCANs Mobility Correspondent should take the Niki Louw AFCFTA seriously [email protected] 50Unite Africa and Europe Tel: +27 66 244 1062 52 IMF approves $3 billion bailout Consultant: Financial Support Carl Wepener 53 Kenya lays ground to lift mineral exploration freeze [email protected] 54 Ghana’s Cedi becomes world beater Production Manager/Creative Director Enola Meyer - Mazeadilly design house 55 African unity: Rwanda, Kenya signs nine [email protected] cooperation agreements Tel: +27 61 048 0084 56 Recession Fears andEarnings Printers Lexlines Press (Pty) Ltd 60 Progressing towards the Africa we want Tel: +27 21 507 9030 62 F1 abandons plans to return to South Fax: 086 509 2749 Africa Contributors 64 FOCUSonEXCELLENCE MARK-Anthony Johnson, Garrett Nel, John Mc Loughlin, Matone Ditlhake, Afreximban launches $3 Billion Kenya programme 65 Zimbabwe to introduce gold-backed digital currency Helen Kruger, Bridgette Vermaak, 67 Mahindra: An affordable lifestyle brand Kurt Goodall, Garry Ackerman, 72 BMW X1: Xcellence in the first degree Antonio Bruni, Emil Hickley, Lee Naik, CEO GLOBAL MAGAZINE Jacques van Wyk,Wayne Nelsen * No article or part of an article may be reproduced or transmitted in any form without the pri- or written permission of the publisher. The information provided and opinions expressed in this publication are provided in good faith but do not necessarily represent the opinions of the pub- lisher or editor. All reasonable efforts have been made to ensure the accuracy of the information contained in this publication. However, neither the publisher nor the editor can be held legally liable in any way for damages of any kind whatsoever arising directly or indirectly from any facts or information provided or omitted in these pages, or from any statements made in or withheld by this publication. ISSUE 3 VOL 23 5
2023 CAR OF THE YEAR WINNER Ford Ranger Double Cab 4x4 Old Mutual Insure Limited is a licensed FSP and non-life insurer. CEO GLOBAL MAGAZINE 6 VOL 23 ISSUE 3
CEO GLOBAL MAGAZINE ISSUE 3 VOL 23 7
THE 2023 SOUTH AFRICAN CAR OF THE YEAR WINNERS ANNOUNCED THE HIGHLY ANTICIPATED OLD MUTUAL INSURE SOUTH AFRICAN CAR OF THE YEAR (COTY) COMPETITION CULMINATED IN AN ELECTRIFYING EVENT HELD IN JOHANNESBURG, WHERE, AFTER MONTHS OF METICULOUS EVALUATION, THE OVERALL CHAMPION AND CATEGORY WINNERS WERE REVEALED AS THE SHINING STARS AMONG THE IMPRESSIVE FIELD OF 21 FINALISTS. or the first time in the 37-year “The Ford Ranger’s triumph represents THE DESERVING CATEGORY a milestone for the industry, setting WINNERS FOR THIS YEAR’S F history of the COTY competition, a a new benchmark and symbolising a COTY COMPETITION ARE: leisure double cab 4x4 bakkie was noteworthy accomplishment for one of crowned South Africa’s Car of the Year for South Africa’s primary export products. COMPACT FAMILY CATEGORY: 2023: The Ford Ranger. Proudly representing our nation across BAIC BEIJING X55 global markets, this victory showcases Mabuyane Mabuza, Chairperson of the the ingenuity and craftsmanship of South MIDSIZE CATEGORY: 2023 COTY Competition, said that this African automotive manufacturers,” adds KIA SPORTAGE remarkable achievement is a testament Mabuza. to the automotive industry’s commitment PREMIUM CATEGORY: to producing high-quality double cabs This year’s COTY competition was KIA SORENTO that offer unrivalled performance while particularly exciting, with 21 finalists seamlessly blending comfort, safety, and carefully selected from an impressive ADVENTURE SUV CATEGORY: cutting-edge technology. pool of 55 qualifying vehicles representing FORD EVEREST various fiercely contested categories. The “Over the past decade, the popularity of competition featured Budget, Compact, DOUBLE CAB 4X4 CATEGORY: SUVs and Double Cabs has skyrocketed at Compact Family, Midsize, Premium, FORD RANGER the expense of sedans. Double cab bakkies Adventure SUV, 4x4 Double Cab, Luxury, have become a common choice for Performance, and New Energy categories. LUXURY CATEGORY: everyday commuting, family adventures However, the Budget category had no MERCEDES BENZ S-CLASS and various work applications, providing contenders on this year’s finalist list. a popular solution for South Africans’ Although the entrant in the Compact PERFORMANCE CATEGORY: mobility demands,” says Mabuza. category was commendable, it did not AUDI RS 3 meet the required percentage to secure a Old Mutual Insure, as the COTY sponsor, category win. NEW-ENERGY CATEGORY: one of the most established insurers VOLVO XC 40 P8 RECHARGE in South Africa and a leading provider of vehicle insurance solutions, also 2023 SA CAR OF THE YEAR: applauded the winners. FORD RANGER DOUBLE CAB 4X4 “Well done to the Ford Ranger 4x4 and the category winners of the 2023 COTY contest,” said Garth Napier, Managing Director of Old Mutual Insure. “We are proud to align with their commitment to excellence and congratulate them on their well-deserved success.” 8 VOL 23 ISSUE 3 CEO GLOBAL MAGAZINE
“The eight category winners highlight the For those interested in the technical nature “We would like to thank all the OEMs industry’s fierce rivalry and manufacturers’ of the COTY competition, Mabuza said participating in the 2023 COTY competition. commitment to exceptional products that the overall and category winners’ We also extend our heartfelt appreciation across all price ranges, especially in a evaluations included scoring criteria to our sponsors, partners, hardworking new world that has seen the automotive like design, technology, engineering, jurors, and dedicated Guild members who market change drastically post-COVID-19,” powertrain, handling, ingenuity and safety, tirelessly uphold the esteemed reputation commented Napier. but that the process is much more than just of our nation’s premier car competition,” juror scoring. says Mabuza. “It is also an honour to While acknowledging the intense recognise the exceptional jurors who take competition, Mabuza highlighted the “Once the expert panel concluded immense pride in their involvement with remarkable distinction of the category scoring, the automated scoring factors COTY.” winners, who emerged from an impressive that cover sales performance, segment selection of 55 entries in the 2023 COTY share and value for money are applied. Since its inception in 1986, the South competition. COTY competition partner, Lightstone African Car of the Year (COTY) competition, Auto, provides the automated scoring hosted by the SAGMJ, has maintained its The Mercedes Benz S-Class also won the information, including data-driven insights, unrivalled reputation as the country’s most coveted COTY Jurors Excellence Award, online market intelligence and new vehicle respected and coveted motoring event. which recognises the unparalleled driving sales data.” experience of an extraordinary vehicle CEO Global Group wants to congratulate and represents the jurors’ raw scores, The diverse group of jurors for this year’s every person and institution who made this acknowledging exceptional vehicle quality competition comprises esteemed South event such a continental success. and craftsmanship. African Guild of Mobility Journalists (SAGMJ) members, with their peers It again shows the uniqueness of our The absence of any finalists in the Budget choosing potential and trainee jurors Continent to be the first to recognise a category this year can be attributed to the based on specific requirements. Trainees winner that makes sense for not only our product lifecycle timing of key competitors; undergo a two-year apprenticeship under country but the whole of Africa. however, the category remains an the guidance of a juror mentor, ensuring a important entry point into the market. continuous supply of newly trained jurors Contact Michelle York Mabuza urges the automotive industry to ready to contribute to the jury team. for further detail or to persist in its innovation efforts, aiming to arrange an interview with create vehicles that cater to the diverse “The selection and training of jurors for this the South African Guild of requirements of the South African public. year’s competition remained as stringent Mobility Journalists / SA as ever,” said Mabuza. “Our group of 29 To this end, the competition also saw the jurors and 4 trainee jurors represents all car Car of the Year: first Chinese winner. The BAIC Beijing X55 buyers in the country, ensuring a fair and won the hotly contested Compact Family comprehensive evaluation process.” Email: [email protected] category, a sign that automotive brands Mobile number: 084 777 0441 from China are taking the world by storm, Additional honours instituted at the as it is also evident on South African roads. SAGMJ’s Annual General Meeting (AGM) in 2021 were the Most Admired OEM and The Chery Tiggo 8 Pro won the “Motor the Best PR in the industry. The winners Enthusiasts Choice”, voted for by the public of this year’s awards will be announced via a social media campaign driven by Old at the Guild’s AGM later in June. Although Mutual Insure. This category was added these two awards are not officially part three years ago to reflect how integral the of the COTY competition, they are just as public has become to the COTY scoring prestigious. and voting process. CEO GLOBAL MAGAZINE ISSUE 3 VOL 23 9
COST AVERAGING uring market downturns, it is not uncommon As can be seen, significantly more units are purchased when prices are depressed compared to when prices are elevated. Dfor investors to stray from their investment However, this effect is not symmetric, meaning the decrease strategy by upweighting their allocation to in purchasing power at high prices does not fully offset the safer assets such as cash, with the hopes of increase in purchasing power at low prices. The result is that missing most of the potential drawdown. Although asset the weighted average purchasing price over the example allocation is an important aspect of investing, these decisions period was only R98.18, compared to the average price of should be made with a long-term goal in mind and should the security, R98.25. Overall, the asymmetry experienced mostly ignore short term volatility. Attempting to time the has the net effect of yielding a positive return of 1.85% for markets is very difficult; even the most knowledgeable the investor, even though the market itself had no return. investor cannot guarantee their prediction of the near future and may end up missing out on a market recovery. Market volatility can be a source of stress and anxiety for investors, leading to emotional decision-making Luckily, there is a mechanism that is often overlooked that and potential missed opportunities for gains. However, rewards the disciplined investor who makes regular investment by investing a fixed amount of money on a consistent contributions: cost averaging. Unless the price of a security basis, an investor can avoid the dangers of market timing remains completely unchanged, the actual average per-unit and may ultimately end up enjoying lower average per- price an investor pays over time is lower than one would expect. unit prices over time which may benefit their portfolio. This is simply because, for the same fixed investment amount, when the price of the security is low, more units are purchased, BY GARRETT NEL and when the price rises, fewer units are purchased. This has , NEW ROAD CAPITAL the natural effect of overweighting the returns of units bought at a “cheap” price, while underweighting units bought at an “expensive” price. The following figure depicts this mechanism in a hypothetical setting, where the unit price starts at R100, and ends at R100 after experiencing some volatility. DISCLAIMER: New Road Capital (Pty) Ltd, 2017/650486/07 and FSP number 50488, is an authorised discretionary financial services provider under the Financial Advisory and Intermediary Ser- vices Act (No. 37 of 2002). The information and any opinions displayed herein are of a general nature and do not constitute advice. New Road Capital takes all care to provide cur- rent and accurate information as at the date of publication but accepts no liability for errors, omissions or subsequent changes. Any references to data, assumptions, targets, benchmarks or examples are as indicators or illustrations only and are not fixed or guaranteed and clients should not assume any performance or guarantees apply unless such has been explicitly confirmed in writing. Past investment performance is not necessarily indicative of future performance. As clients remain responsible for the investment, product and counterparty risks of their decisions, they should consult with their advisors and independently assess and confirm all material information before taking any ac- tion. The NEW ROAD CAPITAL co-named funds (as defined in BN 778 of 2011) are registered under Boutique Collective Investments (RF) (Pty) Ltd (“BCI”), a registered Collective Investment Schemes Management Company in terms of the Collective Investment Schemes Control Act 45 of 2002, supervised by the Financial Sector Conduct Authority (‘FSCA’). New Road Capital (Pty) Ltd, is the FSCA approved and appointed investment manager of the co-named CIS funds. Boutique Collective Investments (RF) (Pty) Ltd (“BCI”) is a registered Manager of the Boutique Collective Investments Scheme, approved in terms of the Collective Investments Schemes Control Act, No. 45 of 2002 and is a full member of the Association for Savings and Investment SA. Collective Investment Schemes in securities are generally medium to long term investments. The value of participatory interests may go up or down and past performance is not necessarily an indication of future performance. The Manager does not guarantee the capital or the return of a portfolio. Collective Investments are traded at ruling prices and can engage in borrowing and scrip lending. A schedule of fees, charges and maximum commissions is available on request. BCI reserves the right to close the portfolio to new investors and reopen certain portfolios from time to time in order to manage them more efficiently. Additional information, including application forms, annual or quarterly reports can be obtained from BCI, free of charge. A fund of funds is a portfolio that invests in portfolios of collective investment schemes that levy their own charges, which could result in a higher fee structure. Income funds derive their income from interest-bearing instruments in accordance with Section 100(2) of the Act. The yield is a current yield and is calculated daily. Boutique Collective Investments (RF) Pty Ltd retains full legal responsibility for the third party named portfolio. Performance figures quoted for the portfolios are from Morningstar, as at the date of this document for a lump sum investment, using NAV-NAV with income reinvested and do not take any upfront manager’s charge into account. Income distributions are declared on the ex-dividend date. Actual investment performance will differ based on the initial fees charge applicable, the actual investment date, the date of reinvestment and dividend withholding tax. Annualised return is the weighted average compound growth rate over the period measured. Investments in foreign securities may include additional risks such as potential constraints on liquidity and repatriation of funds, macroeconomic risk, political risk, foreign exchange risk, tax risk, settlement risk as well as potential limitations on the availability of market information. Although reasonable steps have been taken to ensure the validity and accuracy of the information in this document, BCI does not accept any responsibility for any claim, dam- ages, loss or expense, however it arises, out of or in connection with the information in this document, whether by a client, investor or intermediary. This document should not be seen as an offer to purchase any specific product and is not to be construed as advice or guidance in any form whatsoever. Investors are encouraged to obtain independent professional investment and taxation advice before investing with or in any of BCI/the Manager’s products. 10 VOL 23 ISSUE 3 CEO GLOBAL MAGAZINE
Greater Than DISCLAIMER: the Sum of its Parts New Road Capital (Pty) Ltd, 2017/650486/07 and FSP number 50488, is The concept of minimising To illustrate an example of this an authorised discretionary financial services provider under the Fi- investment risk through phenomenon, consider the returns nancial Advisory and Intermediary Services Act (No. 37 of 2002). The diversification is a commonly illustrated below of the FTSE/JSE Top 40 information and any opinions displayed herein are of a general na- understood topic and is widely Index over the last 5 years, compared to ture and do not constitute advice. New Road Capital takes all care regarded as the only true “free lunch”. the performance of its constituents, the to provide current and accurate information as at the date of publi- The minimisation of risk is done by largest 40 listed equities in South Africa. cation but accepts no liability for errors, omissions or subsequent eliminating to a large degree the effects of Somewhat surprisingly, over the last 5 changes. Any references to data, assumptions, targets, benchmarks idiosyncratic—or company specific—risks, years, on average more than 56% of shares or examples are as indicators or illustrations only and are not fixed or which leaves the investor exposed only that make up the index underperformed guaranteed and clients should not assume any performance or guar- to the market as a whole, where they can the index itself. antees apply unless such has been explicitly confirmed in writing. enjoy returns explained by the risk taken Past investment performance is not necessarily indicative of future through exposure to the asset class, not BUSINESS ADVICES performance. As clients remain responsible for the investment, prod- individual securities. However, there is a uct and counterparty risks of their decisions, they should consult with more counterintuitive benefit to investing their advisors and independently assess and confirm all material in- in the market as a whole versus selecting formation before taking any action. individual stocks: most securities that The NEW ROAD CAPITAL co-named funds (as defined in BN 778 of 2011) make up the market perform worse than are registered under Boutique Collective Investments (RF) (Pty) Ltd the market itself. (“BCI”), a registered Collective Investment Schemes Management Company in terms of the Collective Investment Schemes Control This result has practical Act 45 of 2002, supervised by the Financial Sector Conduct Authority implications for the active (‘FSCA’). New Road Capital (Pty) Ltd, is the FSCA approved and appoint- investor: ed investment manager of the co-named CIS funds. Boutique Collective Investments (RF) (Pty) Ltd (“BCI”) is a registered It means that each stock chosen in an Manager of the Boutique Collective Investments Scheme, approved actively managed portfolio only had a 44% in terms of the Collective Investments Schemes Control Act, No. 45 of chance of outperforming the market. 2002 and is a full member of the Association for Savings and Invest- ment SA. Collective Investment Schemes in securities are general- There is a simple mathematical All things considered, the benefits of ly medium to long term investments. The value of participatory in- explanation as to why individual securities investing in an average actively managed terests may go up or down and past performance is not necessarily tend to perform worse than the market on portfolio makes it difficult to justify the an indication of future performance. The Manager does not guaran- average: the returns of these securities risk of selecting a handful of individual tee the capital or the return of a portfolio. Collective Investments are are not symmetrically distributed. An stocks. An investor who chooses a traded at ruling prices and can engage in borrowing and scrip lending. individual share can only lose 100% of well-structured portfolio benefits from A schedule of fees, charges and maximum commissions is available its value but can gain more that 100% of the statistically larger likelihood of greater on request. BCI reserves the right to close the portfolio to new inves- its value. The following figure illustrates performance, as well as the risk reducing tors and reopen certain portfolios from time to time in order to man- this point. In any positively skewed benefits of diversification and intelligent age them more efficiently. Additional information, including applica- distribution, the median return will be less portfolio construction. tion forms, annual or quarterly reports can be obtained from BCI, free than the average return. By definition, of charge. A fund of funds is a portfolio that invests in portfolios of col- the median splits the distribution in half, lective investment schemes that levy their own charges, which could implying that 50% of securities must result in a higher fee structure. Income funds derive their income perform worse, and 50% must perform from interest-bearing instruments in accordance with Section 100(2) better than this value. Over the period of the Act. The yield is a current yield and is calculated daily. Boutique considered, the median per annum return Collective Investments (RF) Pty Ltd retains full legal responsibility for for the 40 largest South African equities the third party named portfolio. Performance figures quoted for the was 4.8%, while the return of the Top 40 portfolios are from Morningstar, as at the date of this document for a Index was 8.7% pa — effectively rewarding lump sum investment, using NAV-NAV with income reinvested and do the investor with a 3.9% excess return per not take any upfront manager’s charge into account. Income distri- annum. butions are declared on the ex-dividend date. Actual investment per- formance will differ based on the initial fees charge applicable, the actual investment date, the date of reinvestment and dividend with- holding tax. Annualised return is the weighted average compound growth rate over the period measured. Investments in foreign secu- rities may include additional risks such as potential constraints on li- quidity and repatriation of funds, macroeconomic risk, political risk, foreign exchange risk, tax risk, settlement risk as well as potential limitations on the availability of market information. Although rea- sonable steps have been taken to ensure the validity and accuracy of the information in this document, BCI does not accept any responsi- bility for any claim, damages, loss or expense, however it arises, out of or in connection with the information in this document, whether by a client, investor or intermediary. This document should not be seen as an offer to purchase any specific product and is not to be construed as advice or guidance in any form whatsoever. Investors are encour- aged to obtain independent professional investment and taxation advice before investing with or in any of BCI/the Manager’s products. CEO GLOBAL MAGAZINE ISSUE 3 VOL 23 11
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J2 SOFTWARE RECOGNISES COLLECTIVE RESPONSIBILITY FOR CYBERSECURITY IN THE WAKE OF GROWING CYBERTHREATS J2 SOFTWARE, A LEADING PROVIDER OF MANAGED CYBERSECURITY SERVICES, RECOGNISES THE SHIFT TOWARDS COLLECTIVE RESPONSIBILITY FOR CYBERSECURITY IN RESPONSE TO THE GROWING FREQUENCY AND SOPHISTICATION OF CYBERATTACKS AROUND THE GLOBE, AS HIGHLIGHTED IN THE LATEST RESEARCH BY GARTNER. artner’s research shows that According to Gartner, organisations that “We are excited to be seeing more and adopt a collective resilience mindset will more companies embrace the idea that G the burden of cybersecurity be better prepared to face the challenges cybersecurity is everyone’s responsibility,” can no longer rest solely on the posed by cyber threats. J2 Software has said John Mc Loughlin, Group CEO of J2 shoulders of IT specialists, as it was in always held the position that resilience, Software. “This shift is essential for building the past. Instead, a collective resilience driven by visibility, is key to averting cyber a culture of security where all employees mindset is emerging in which the entire disasters. understand the risks and are equipped to organisation has a role to play when it mitigate them.” comes to cybersecurity. Despite the challenges, the private and public sectors are working together to spread the burden of cybersecurity, both through education and awareness, as well as regulations and policies. The latest example of this is the new US National Cybersecurity Strategy from the Biden-Harris Administration, which plans to focus on “rebalancing the responsibility to defend cyberspace” and taking the burden away from individuals and small businesses. J2 Software recognises the importance of addressing the personal risks faced by CISOs, who often have high-pressure jobs and are at risk of burnout. A 2022 survey highlighted stress and burnout as the most significant personal risks CISOs are facing in their role. 14 VOL 23 ISSUE 3 CEO GLOBAL MAGAZINE
While CISOs will always have a J2 “more responsibility for the cybersecurity of their business, organisations are engaging in J2 is a security focused and more cybersecurity more holistically, meaning African technology companies there’s better understanding from the embrace the C-Level, as well as employees across all business founded in 2006 idea that departments. to address the need for cybersecurity effective cybersecurity, is everyone’s governance, risk and responsibility compliance solutions in “J2 Software is committed to helping Africa. J2 Software is helping organisations build a culture of security, improve the cyber where cybersecurity is embedded into the J2 delivers essential tools fabric of the organisation,” said McLoughlin. that empower organisations resilience of our customers “We offer a range of solutions and services and provide services to that augment the job of the security team, to take control of their as well as those that educate the wider technology spend. The more than 350 customers business.” company’s hand-picked on 4 continents. solutions provide complete visibility over its customers’ BY JOHN MC LOUGHLIN, CYBERSECURITY EXPERT AND J2 CEO “As more businesses take note of environment, while cybersecurity, there is likely to be a reducing risk and lowering broader impact on other businesses in the market, including vendors. With increased costs. recognition that cybersecurity is not the sole responsibility of one person or one The continued rise of team, we’ll hopefully continue to see the cybercrime, identity burden on CISOs reduced as well as more theft and confidential involvement and ownership from other data leakage drives senior leaders,” he concludes. the requirement for J2 Software’s managed Gartner says before organisations cyber security service explore the use of insider threat tool and offerings, not only for services, they must consult legal counsel competitive advantage, but and human resources leaders, and set as an absolute business boundaries on the capture, storage, necessity. The company sharing, analysis and destruction of data offers managed cyber regarding employee activities. security services for every business. We ensure that you have greater visibility to identify risky behaviour and enhance the capability to respond to prevent losses. www.j2.co.za CEO GLOBAL MAGAZINE ISSUE 3 VOL 23 15
PRIVATE SECTOR COMPLEMENTS GOVERNMENT’S EFFORTS TO BRIDGE DIGITAL DIVIDE BY MATONE DITLHAKE, CORRIDOR AFRICA TECHNOLOGIES CEO he South African government has T also acknowledged this challenge and is committed to promoting universal access to affordable and reliable ICT services. The National Integrated ICT Policy White Paper seeks to create an enabling environment for the growth of the ICT sector, create jobs, and contribute to the country’s economic growth. The private sector, particularly telecom infrastructure providers, have also taken the initiative to help address the challenge of digital inequality in South Africa. Telecom providers have invested in expanding their network infrastructure to underserved areas and are providing affordable data plans to their customers. To address these challenges, the South African government has put in place measures such as the South African National Broadband Plan, the South African Connect Initiative, and the Telkom Connected Schools Program. These initiatives seek to provide affordable and reliable broadband connectivity to all citizens, promote competition in the telecoms sector, and provide access to essential services such as healthcare and education. 16 VOL 23 ISSUE 3 CEO GLOBAL MAGAZINE
“efforts by the private sector are a crucial complement to the government’s initiatives DIGITAL INEQUALITY CONTINUES TO BE A MAJOR CHALLENGE FACING SOUTH It has also launched the South African AFRICA, BUSINESS AND THE GOVERNMENT RECOGNISE THIS CHALLENGE AND Connect Initiative, which seeks to provide ARE BOTH COMMITTED TO BRIDGING THE DIGITAL DIVIDE AND ENSURING ACCESS affordable and reliable broadband TO AFFORDABLE AND RELIABLE INTERNET CONNECTIVITY FOR ALL CITIZENS. connectivity to all schools, hospitals, and government offices in the country by However, despite these efforts, significant The Telkom Connected Schools Program 2025. The initiative is expected to play a challenges remain, particularly in terms has connected over 800 schools across key role in bridging the digital divide and of telecoms infrastructure. The country’s the country, providing students with access ensuring that all citizens have access to telecoms infrastructure faces a number to e-learning resources and opportunities essential services, including healthcare of challenges, including inadequate to participate in the digital economy. and education. infrastructure in some areas, lack of competition in the market, and high costs “We believe that access to affordable “Corridor Africa Technologies is committed of data and voice services. and reliable internet connectivity is to providing innovative digital solutions a fundamental human right, and we that promote access to affordable and These challenges have made it difficult for are committed to playing our part in reliable internet connectivity to all citizens, many South Africans to access affordable addressing digital inequality in South particularly those in underserved areas. and reliable internet connectivity, Africa,” said Corridor Africa Technologies We are proud to support the South African particularly those living in rural areas and CEO Matone Ditlhake. government’s initiatives in promoting low-income communities. universal access to affordable and reliable “As a leading provider of digital solutions, ICT services, promoting the growth of the Corridor Africa Technologies, a leading we recognise the importance of ICT sector, creating jobs, and contributing provider of digital solutions, is addressing collaborative efforts between the private to the country’s economic growth,” he the issue of digital inequality amidst and public sectors in bridging the digital explains. the challenges facing South Africa. divide and ensuring equal opportunities for The company recognises that access all citizens.” The company believes that through to affordable and reliable internet collaborative efforts between the private connectivity is a critical issue in bridging To address these challenges, the and public sectors, South Africa can the digital divide and ensuring equal government has put in place a number of bridge the digital divide and ensure that all opportunities for all citizens. measures. These include the development citizens have access to the benefits of the of the South African National Broadband digital age. The telecoms infrastructure provider Plan, which seeks to ensure that all citizens recognises the importance of private have access to high-speed internet Corridor Africa Technologies is committed sector initiatives in complementing the connectivity by 2030. to providing innovative digital solutions government’s efforts in bridging the digital that promote access to affordable and divide. Telecom providers have invested The plan aims to achieve this by promoting reliable internet connectivity to all citizens, in expanding their network infrastructure competition in the telecoms sector, particularly those in underserved areas. to underserved areas and are providing encouraging private investment in affordable data plans to their customers. telecoms infrastructure, and ensuring that These efforts by the private sector are a all citizens have access to affordable and crucial complement to the government’s reliable internet connectivity. initiatives in bridging the digital divide and ensuring that all South Africans have access to the benefits of the digital age. CEO GLOBAL MAGAZINE ISSUE 3 VOL 23 17
TROYE AND ARCTIC WOLF JOIN FORCES TO TROYE, A LEADING PROVIDER OF IT SOLUTIONS AND SERVICES, ANNOUNCED PROTECT BUSINESSES AGAINST ADVANCED TODAY A STRATEGIC PARTNERSHIP WITH ARCTIC WOLF, A LEADER IN SECURITY CYBER THREATS OPERATIONS. THIS COLLABORATION WILL ENABLE TROYE TO PROVIDE THEIR CUSTOMERS WITH ENHANCED CYBERSECURITY SOLUTIONS AND SERVICES BY HELEN KRUGER,THAT HELP PROTECT THEIR BUSINESSES FROM ADVANCED CYBER THREATS.. TROYE CEO Arctic Wolf’s cloud-native our mission to help our customers keep their businesses secure and productive. F security operations platform This partnership will allow us to enhance provides Troye’s customers with our cybersecurity offerings and deliver 24/7 monitoring, detection, and response the peace of mind that our customers capabilities. The platform uses machine deserve.” learning and behavioural analytics to detect and respond to threats in real-time, Troye’s cybersecurity solutions and ensuring that customers are protected services, combined with Arctic Wolf’s from cyberattacks before they can cause security operations platform, will provide significant harm. customers with a comprehensive security solution that protects against a range of “We’re thrilled to partner with Arctic Wolf,” threats, including malware, ransomware, said Helen Kruger, MD of Troye. “Their and phishing attacks. expertise in security operations aligns with 18 VOL 23 ISSUE 3 CEO GLOBAL MAGAZINE
Troye is a leading 51% Black Women-Owned Level 2 BEE Information Technology solutions specialist and professional managed IT services provider. Over the past decade, Troye has designed and implemented superior integrated IT solutions for its small, medium and enterprise customers - concentrating on end-to-end virtualisation solutions. . Troye invests heavily in its customers through exceptional service “Arctic Wolf is excited for the opportunity excellence. This ensures a better understanding of the customer’s to support Troye’s efforts to expand business and their technology requirements. More importantly, it their product portfolio by offering our enables customers to focus on their core business activities with the security operations solutions, a critical assurance that their investment in technology is safeguarded. capability that many of their customers are specifically requesting,” said Johnny Ellis, Troye focuses on minimising both cost and risk, maximising return Director, EMEA Channels, Arctic Wolf. on investment, driving innovation and safeguarding their customer’s business for the future. “Cyberattacks threaten companies of every size, and organisations are increasingly As one of only a few Citrix Platinum Plus Solution Advisors in South seeing the need for external security Africa, Troye holds the highest level of CSA partnership awarded by operations expertise, especially when they the software vendor. Troye won Citrix Partner of the Year award in the don’t have the in-house cybersecurity ‘New SaaS’ category and was awarded third place as Citrix’s Cloud talent to manage their evolving security Partner of the Year for emerging markets. needs,” he concludes. CEO GLOBAL MAGAZINE ISSUE 3 VOL 23 19
IMPROVEDSUSTAINABILITY eWaste is receiving board-level attention COMPANIES NEED TO THINK and ITAD programs could be an excellent REUSE BEFORE RECYCLING way to contribute to sustainability goals BECAUSE EWASTE POSES and help solve this worldwide problem. A SERIOUS CHALLENGE AS IT IS FAST BECOMING THE IT asset management and disposition campaigns BIGGEST SOLID WASTE should take a comprehensive approach, from what STREAM IN THE WORLD. BY companies purchase to how they dispose of the assets. PROPERLY MANAGING AND It goes well beyond environmental challenges; it just RECYCLING THIS WASTE makes good business sense. STREAM OFFERS BUSINESSES THE OPPORTUNITY TO Here is a guideline as to how companies can improve BECOME MORE SUSTAINABLE sustainability through proper IT asset management and BY TRANSFORMING THEIR disposition programs. THROWAWAY CULTURE. Reuse should always be the first option because new PURCHASE SUSTAINABLE ELECTRONICS products require materials and energy to fabricate and transport. Most electronics have a 10-year lifespan, but In a world where the environment plays a major role in most purchasing decisions, businesses should start the many equipment refreshes occur every 3 to 4 years, process by examining their procurement approaches to gain better visibility over their partners and suppliers. leaving many years of useful life on the table. It is important to understand what IT assets you are purchasing and how they are built. It also makes financial sense, by simply extending a CONSIDER REUSE INITIATIVES technology refresh by one year could save a company million’s of rands. The best way to become more sustainable, to protect the environment and to save money is by reusing old electronic equipment. Promote a reuse culture within If reuse is not an option, then companies should “CONTRIBUTEthe organisation and incentivise positive behaviour. TO employ a certified ITAD service provider who could SUSTAINABILITY GOALS prepare working equipment for reuse. Donations to charities and staff benefit programs are other options to extend the life of equipment. It is best to partner with a reputable service provider that will not only prepare machines for reuse, but will help with the data destruction. Circular economy initiatives help businesses keep IT assets in use for longer, extracting the maximum value from those electronics while in use. They can then recover and regenerate products and materials at the end of their useful life. 20 VOL 23 ISSUE 3 CEO GLOBAL MAGAZINE
All these standards cover environmental management, occupational and public health and safety, and support the implementation of legal, regulatory and policy frameworks. It is important to note the difference between an accreditation and membership of a Producer Responsibility Organisation (PRO). The former is a qualification with annual audits to driver innovation and guarantee professionalism whereas the latter is a scheme that is established to provide financial assistance to recyclers for unprofitable eWaste streams. Example of PRO’s and membership in South Africa that do not require qualifications or audits include: Ewasa - PRO: R2E2: eWaste Recy- Waste Association of South Requirements unspecified cling Authority: Africa (eWASA) members pay but a certificate is issued. an annual fee and pledge to NPC membership is free conform to a code of ethics and an onboarding process and a certificate is issued. to disclose details of your recycling operation. CERTIFIED RECYCLING Xperien is the only company in Africa to be R2v3 certified, it confirms that the company operates a Recycling is the perfect way to improve sustainability Quality Management System (QMS) that complies goals. However, beware of dubious recyclers. It with requirements of ISO 9001:2015, ISO14001 is important to partner with a credible, accredited Environmental managements systems and ISO45001 and certified recycler because after all, they will be Health & safety for the ‘Collection and disposal of handling many of your data bearing devices. IT assets and equipment’, as well as other stringent criteria that require annual auditing. Most industries have certifications to help maintain a high level of standards, especially in the electronic recycling and ITAD space. Familiar accreditations SUSTAINABILITY REPORTING and certifications include ISO 9001, 14001 and 45001 specifically for ITAD, as well as Adisa, R2 and e-Stewards. The importance of sustainability reporting is on the rise amid efforts to assess, quantify and communicate Environmental, Social, and Corporate Governance 1. ISO 9001 Quality management systems: Recyclers (ESG) metrics, and progress toward net-zero carbon use this standard to demonstrate the ability to emissions and other sustainability goals. consistently provide products and services that meet customer and regulatory requirements. ITAD initiatives are an excellent way to achieve sustainability goals but this opportunity is often missed 2. R2v3 certification: This is a voluntary sustainability because collecting information from various divisions standard that certifies responsible electronics or from ITAD and recycling partners could pose a processors. IT Asset Managers partnering with ITAD challenge. companies with R2v3-certified infrastructure can have increased confidence that their sensitive data is Proper sustainability reporting needs to be done to destroyed, that electronics with residual value will be align with your sustainability metrics and goals. This reused, and that their assets won’t end up in a landfill could be done through a reputable qualified and or in a dumping ground in some remote country. certified ITAD provider and should include specific data of equipment that is reused, resold, donated and 3. e-Stewards certification was introduced in 2009 by recycled. the Basel Action Network (BAN). The BAN was founded with the aim of improving recyclers adherence to the BY BRIDGETTE VERMAAK, Basel Convention. PXPERIEN ITAD SPECIALIST 4. ADISA’s IT Asset Recovery Certification: Recently updated to version 8, it is a UK-developed global standard for ITAD providers. The current version of the standard is approved by the UK Information Commissioner (ICO) as a UK GDPR certification scheme. CEO GLOBAL MAGAZINE ISSUE 3 VOL 23 21
THE DIGITAL TRANSFORMATION OF RETAIL IS CHANGING THE WAY CONSUMERS SHOP AND HOW RETAILERS OPERATE. FOR TODAY’S HYBRID SHOPPERS, THERE IS NO DISTINCTION BETWEEN DIGITAL AND PHYSICAL RETAIL; INSTEAD, THERE IS SIMPLY RETAIL THAT IS LOW-FRICTION, ENGAGING, AND AVAILABLE WHEREVER AND WHENEVER THEY WANT IT. CREATING AN AGILE TECH ENVIRONMENT FOR RETAILERS etailers need to be agile This requires a technological and cultural shift across the entire retail business. R and flexible to meet these Retailers need to free staff to work more changing consumer demands, flexibly in-store, online, and across the and technology can help them deliver back-office. This will enable them to the experiences consumers need. In provide a seamless customer experience this thought leadership piece, we will and better manage their operations. explore how retailers can create an agile organisation that enables their staff to Retailers also need to consider how to train work flexibly and efficiently across different and manage their back-office and front- functions, both in-store and online. office staff in-store, in-office, and remotely. This can be a challenge, but it is essential To deliver the hybrid services that to create an agile organisation that can consumers need, retailers need to manage meet the demands of consumers. and enable store staff to handle online orders and contact from other stores. In the Retailers need to deploy the right back-office, staff also need more flexibility technology that can deliver the right tools, to work remotely and across different apps, data, and info to wherever staff are functions within the business, supporting and as they move across different business both on and offline operations. functions. This will help retailers manage logistics, secure their operations, and ensure that staff can work productively regardless of location, device, or network. Creating the right tech environment is essential to enabling staff to work flexibly and remotely. Retailers need to provide their staff with the tools they need to create a productive environment for workers to interact regardless of location, device, or network. 22 VOL 23 ISSUE 3 CEO GLOBAL MAGAZINE
This may mean giving everyone access to retailers need to ensure that their systems ABOUT TROYE all the same systems and information that and networks are secure and compliant they would get in the office, or it may mean with industry regulations. TROYE IS A LEADING 51% BLACK restricting access to just the core apps and WOMEN-OWNED LEVEL 2 BEE programs that they need to do their job. Troye offers a range of security and INFORMATION TECHNOLOGY compliance services that help retailers SOLUTIONS SPECIALIST AND Ideally, staff should be able to access what protect their data, systems, and operations, PROFESSIONAL MANAGED IT they need, wherever they are, at the touch and ensure that they are meeting all of a button. This can be achieved through a relevant regulatory requirements. SERVICES PROVIDER. remotely accessed desktop or dashboard that gives users access to what they need The digital transformation of retail is OVER THE PAST DECADE, TROYE based on their location, device, and task. changing how consumers shop and how HAS DESIGNED AND IMPLE- retailers operate. To meet the demands The “any, any, any...” approach allows of hybrid shoppers, retailers need to be MENTED SUPERIOR INTEGRATED any user on any device in any location to agile and flexible, and technology can help IT SOLUTIONS FOR ITS SMALL, access any app for any work type without them deliver the experiences consumers MEDIUM AND ENTERPRISE CUS- it being a security risk to the company. This need. Retailers need to create an agile TOMERS - CONCENTRATING ON approach enables employees, contractors, organisation that enables their staff to END-TO-END VIRTUALISATION business partners, part-time seasonal work flexibly and efficiently across different SOLUTIONS. workers, and customers to access the functions, both in-store and online. company’s systems and services that they TROYE INVESTS HEAVILY IN ITS need from wherever they are. Retailers They need to provide their staff with the CUSTOMERS THROUGH EXCEP- must ensure that the devices and networks tools they need to work productively TIONAL SERVICE EXCELLENCE. THIS staff are using are secure, and they need to regardless of location, device, or network. ENSURES A BETTER UNDERSTAND- manage who has access to which data and By deploying the right technology and ING OF THE CUSTOMER’S BUSINESS services within the company. managing it effectively, retailers can create AND THEIR TECHNOLOGY REQUIRE- an agile organisation that can meet the MENTS. MORE IMPORTANTLY, IT EN- Troye, a leading provider of technology demands of consumers and thrive in the ABLES CUSTOMERS TO FOCUS ON solutions and services, understands the hybrid world of retail. THEIR CORE BUSINESS ACTIVITIES challenges that retailers face in adapting WITH THE ASSURANCE THAT THEIR to the digital transformation of the industry. In conclusion, the digital transformation of INVESTMENT IN TECHNOLOGY IS To help retailers meet the demands of the retail is a complex and ongoing process, hybrid shopper, Troye offers a range of and retailers need to be agile, flexible, and SAFEGUARDED. solutions that enable staff to work flexibly innovative to meet the demands of the and efficiently across different functions, hybrid shopper. TROYE FOCUSES ON MINIMISING both in-store and online. BOTH COST AND RISK, MAXIM- Troye’s range of solutions and services can ISING RETURN ON INVESTMENT, One of its key solutions is their digital help retailers achieve this, by enabling staff workspace, which allows retailers to to work flexibly and efficiently, ensuring the DRIVING INNOVATION AND SAFE- provide a seamless customer experience security and compliance of their systems GUARDING THEIR CUSTOMER’S across all channels. The digital workspace and networks, and providing training and BUSINESS FOR THE FUTURE. provides staff with access to all the support to help them manage their digital systems, tools, and information they need transformation effectively. With Troye’s AS ONE OF ONLY A FEW CITRIX to do their job, regardless of location, help, retailers can thrive in the hybrid PLATINUM PLUS SOLUTION AD- device, or network. This means that staff world of retail and deliver the experiences VISORS IN SOUTH AFRICA, TROYE can work productively from home, in-store, consumers need. HOLDS THE HIGHEST LEVEL OF or on the go, and customers can receive CSA PARTNERSHIP AWARDED BY the same level of service and support THE SOFTWARE VENDOR. TROYE wherever they interact with the retailer. WON CITRIX PARTNER OF THE YEAR AWARD IN THE ‘NEW SAAS’ CATE- Another important offering is its security GORY AND WAS AWARDED THIRD and compliance services. With the rise PLACE AS CITRIX’S CLOUD PART- of online shopping and remote working, NER OF THE YEAR FOR EMERGING MARKETS. BY KURT GOODALL, TROYE TECHNICAL DIRECTOR CEO GLOBAL MAGAZINE ISSUE 3 VOL 23 23
AFCFTA: CELEBRATING THE AFRICA WE WANT ON THIS DAY (21 MARCH 2018) LEADERS OF 44 AFRICAN COUNTRIES ENDORSED THE AFRICAN CONTINENTAL FREE TRADE AREA (AFCFTA) AGREEMENT IN KIGALI, RWANDA. he agreement is expected to on 30 May 2019, and trading under the agreement commenced on 1 January T favour small and medium- 2021. The agreement has achieved almost size businesses, which are universal acceptance, with only one nation, responsible for more than 80% of Africa’s Eritrea, yet to sign. To date, 54 of the 55 employment and 50% of its GDP. Obviously, AfricanUnion Member States have signed any economic policy that facilitates imports on. Thirty-six countries have deposited and exports among member countries their instruments of ratification, confirming - with lower or no tariffs, free access to them as State Parties to the agreement. As the market and market information, and with many trade agreements, signing then the elimination of trade barriers - offers ratification is a prerequisite to enjoying any numerous benefits to SMEs. And as benefits. Africa is on an historic journey to history’s largest freetrade agreement, success. which has a market size in the region of $3.5 trillion, most people are excited at the “AfCFTA wasBYMARK-ANTHONYJOHNSON, development. But skeptics have pointed JIC HOLDINGS CEO to impending challenges, especially those which affect SMEs. These must be signed into law addressed if the AfCFTA is to achieve its on 21 March 2018 objectives. AfCFTA was signed into law and entered into on 21 March 2018 and entered into force force on 30 May 2019 24 VOL 23 ISSUE 3 Watch full video: https://lnkd.in/eDsPwwk #TrulyTheAfricaWeWant CEO GLOBAL MAGAZINE
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MAKING IT EASY AND AFFORDABLE FOR SMES TO MOVE TO THE CLOUD CLOUD COMPUTING HAS TRANSFORMED THE WAY BUSINESSES OPERATE, ENABLING THEM TO STREAMLINE THEIR OPERATIONS, REDUCE COSTS AND IMPROVE FLEXIBILITY. HOWEVER, DESPITE ITS NUMEROUS BENEFITS, MANY COMPANIES REMAIN HESITANT TO MAKE THE SWITCH. any SMEs believe that the cost This flexibility is particularly important for SMEs, which often have limited resources Mof migrating to the cloud is and need to be able to adapt quickly to PROFESSIONAL SERVICES prohibitive. But with the right changes in demand. Companies can easily solutions, moving to the cloud is now more scale up or down as required, without Migrating to the cloud can be a complex accessible and cost-effective than ever having to worry about infrastructure costs. and daunting task, and it is important before. to seek the assistance of professional services to ensure a successful With Microsoft Business Basic, companies migration. Professional services can can migrate their IT infrastructure to the IMPROVED PRODUCTIVITY provide guidance, support, and expertise cloud, without having to invest in expensive AND COLLABORATION throughout the entire migration hardware or software. It is an all-in-one process, from planning and design to cloud solution designed specifically In addition to cost savings, migrating to the implementation and management. for SMEs. It provides access to a range cloud can also help companies to improve of cloud-based tools, including email, their productivity and collaboration. With calendars, file storage and sharing, video tools such as Microsoft Teams, employees conferencing, and more. can work together seamlessly, regardless of their location. COST They can share files, collaborate on Even small businesses with limited documents in real-time, and hold virtual budgets can benefit from the cloud, meetings, all from within the same without having to worry about excessive platform. This not only improves efficiency costs. For example, Business Basic offers a but also helps to reduce the need for cost-effective solution, with prices starting travel, which can be a significant cost for at just R91 per month. many businesses. SCALABILITY SECURITY With a user-friendly interface and easy Security is also a concern for many setup, SMEs can quickly get started and companies when it comes to the cloud. reap the benefits of the cloud. This all-in- However, Microsoft Business Basic one cloud solution is also fully scalable, provides a range of security features allowing companies to add or remove to protect company data and ensure users as their needs change, without compliance with regulations such as GDPR. having to worry about infrastructure costs. These features include data encryption, multi-factor authentication, and advanced threat protection, which help to keep company data safe and secure at all times. 26 VOL 23 ISSUE 3 CEO GLOBAL MAGAZINE
BY GARRY ACKERMAN, Argantic aims to help ARGANTIC CEO organisations thrive Professional services can help businesses and reach their full assess their current infrastructure and potential in a modern determine the best cloud solution for cloud-centric era. their specific needs. They can also assist in developing a migration plan that takes Argantic was founded into account factors such as data security, 10 years ago with compliance requirements, and cost the aim to focus on optimisation. delivering software and infrastructure services Additionally, they can help them identify to the corporate and and mitigate potential risks and ensure enterprise business a smooth transition to the cloud. Once market. The company the migration is complete, professional was founded by two services can continue to provide ongoing ambitious South support and management, ensuring that Africans with a the cloud environment remains secure, simple promise – to efficient, and optimised for performance. make a difference. This has resulted in It can be instrumental in ensuring a the formation of a successful cloud migration, providing company staffed with the expertise, guidance, and support a highly successful necessary to help organisations make the business and technical most of their cloud investment. skills that focused on delivering software and infrastructure services to the corporate and CONCLUSION enterprise business market. Moving to the cloud is a cost-effective and accessible option for SMEs. With prices “an all-in-one for Microsoft Business Basic starting at just R91 per month, companies can access cloud solution a range of cloud-based tools, including designed email, calendars, file storage and sharing, video conferencing, and more. specifically for SMEs By migrating to the cloud, companies can improve productivity, collaboration and flexibility, while also reducing costs and enhancing security. With these benefits, it’s clear that the cloud is no longer just for large enterprises, but a viable option for SMEs as well. CEO GLOBAL MAGAZINE ISSUE 3 VOL 23 27
NEWS THE QSR DELIVERY APP SHIFT: FROM MARKETPLACE TO DEDICATED APP OBSERVING THE EVOLUTION OF THE ON-DEMAND DELIVERY INDUSTRY OVER THE PAST 7 YEARS, INCLUDING THE PRE, DURING, AND POST-COVID PERIODS, HAS BEEN INTRIGUING, PARTICULARLY IN THE FOOD DELIVERY SECTOR, WHICH IS BOTH FASCINATING AND CHALLENGING. icup is preparing to launch To put it plainly, there has been a noticeable shift in mindset from relying P an enterprise solution in this on convenient online marketplaces to space, and a debate has arisen developing dedicated apps to increase between large franchises and family-run profitability, customise the customer restaurants about whether to choose a experience, and possess the data. This QSR marketplace for convenience or to change is influenced by several factors. invest in an owned solution. 28 VOL 23 ISSUE 3 CEO GLOBAL MAGAZINE
Unfortunately, with an online marketplace The future is personalised ordering options platform, restaurants have little control and notifications according to individual over the quality of customer support, preferences. In a nutshell, having an owned drivers and branding. The truth is that solution ensures you have complete every interaction with your restaurant control over your customer data in order to matters, from the online order process, analyse trends and optimise strategically to troubleshooting availability and the knock build on revenue growth. on the door. Having control and ensuring a top-class customer experience will result in repeat business, positive reviews and ongoing customer loyalty. THE DEBATE CONTINUES While marketplace platforms can provide restaurants with access to a large BATTLE OF THE OFFERS customer base and have a relatively low initial barrier to entry when it comes to COMMISSION FEES THAT Marketplace platforms are highly upfront costs, the long-term effects on EAT INTO PROFITS competitive environments and the fight the business sustainability comes into question. There’s no doubt that marketplaces like for market share can rely strongly on Uber Eats and Mr D have been game- offers and promotions to highlight your The larger franchises however need to changers in the way we order food and restaurant amongst direct competition. invest in building infrastructure to own have been a lifeline for restaurants during This can create unneeded pressure to the entire customer journey. As a DaaS covid to be able to turn on a dark kitchen compete in an already saturated sector. By (delivery-as-a-service) company Picup solution almost immediately. moving away from marketplaces, it opens has the ability to seamlessly integrate our up additional advertising opportunities to software and driver network with your app But when looking at the bottom line these establish a unique market position. or marketplace to facilitate the logistics commission fees, which can be up to 30%, aspect of the customer journey. cut into the profit margins significantly Previously, national franchises/restaurant and result in a low “Picup is OWNING groups would need various DaaS return on investment. THE DATA companies to manage their fulfilment, Whether you’re a large TO LEARN but with a network of over 5,000+ drivers franchise or medium AND nationally we are able to scale with your sized restaurant, OPTIMISE business. these fees don’t seem For small-medium restaurant groups preparingsustainable long-term. a hybrid solution might be the answer When it comes to as there’s no doubting the benefits of data, marketplace investing in understanding the unique CONTROLLING needs of your customers and how to to launch an platforms typically provide them with the best experience don’t share possible. enterprise THE the customer BY ANTONIO BRUNI, CUSTOMER information with PICUP CEO EXPERIENCE solution the individual Another factor for restaurants. This restaurant/food makes it difficult for service businesses to restaurants to build consider is the customer experience. The direct relationships with their patrons when overall customer journey for a brand has it comes to special offers and customer become increasingly important in order for loyalty drivers. a business to differentiate themselves from Personalisation is another massive driver, the rising competition. But how can you with AI going mainstream overnight the stand out if you’re stuck in the crowd? power really is in the data. CEO GLOBAL MAGAZINE ISSUE 3 VOL 23 29
NEWS MICROSOFT RELEASES DYNAMICS 365 COPILOT THE NEXT-GENERATION AI SOLUTION FOR CRM ith its AI-powered THE CRM TEAM, A LEADING PROVIDER OF CUSTOMER RELATIONSHIP MANAGEMENT SOLUTIONS, IS EXCITED ABOUT THE RELEASE OF W capabilities, Microsoft MICROSOFT DYNAMICS 365 COPILOT. AS THE WORLD’S FIRST COPILOT Dynamics 365 Copilot is IN CRM, IT BRINGS NEXT-GENERATION AI TO EVERY LINE OF BUSINESS, a virtual assistant that provides sales EMPOWERING SALES AND CUSTOMER SERVICE PROFESSIONALS WITH and customer service professionals INTELLIGENT TOOLS TO ENHANCE CUSTOMER EXPERIENCES. with personalised recommendations for customer interactions and proactive Microsoft Dynamics 365 Copilot offers the following outreach. features to sales and customer service professionals: Copilot streamlines workflows and Personalised Automated task and collaboration between teams, automates recommendations for record management task and record management, and delivers customer interactions for more efficient and insights into customer interactions and productive workflows behaviours to improve overall customer and proactive experience. outreach powered “We are thrilled about Microsoft Dynamics by AI 365 Copilot,” said Wynand Roos, Managing Director of The CRM Team. “The solution’s advanced AI capabilities will help our customers automate workflows and provide better customer experiences through insights and recommendations.” Roos says Copilot uses advanced AI routine tasks and records management, algorithms to provide personalised allowing for more efficient and productive recommendations for customer workflows. Copilot also facilitates interactions and proactive outreach. collaboration between sales and customer “With Copilot’s insights, sales and service teams, enabling them to work customer service professionals can better together seamlessly to provide the understand their customers’ needs and best possible customer experience,” he tailor their interactions to improve the explains. overall customer experience.” Furthermore, Copilot provides valuable insights into customer interactions and “It offers streamlined behaviours, giving businesses a deeper workflows and understanding of their customers’ needs collaboration, and preferences. automating 30 VOL 23 ISSUE 3 CEO GLOBAL MAGAZINE
For more information on Why Microsoft Dynamics The CRM Team’s offerings and 365 ? how to leverage Microsoft Dynamics 365 is Microsoft Dynamics 365 Copilot, an end-to-end software- please visit as-a-service business https://thecrmteam.com/ platform that comprises of interconnected workloads Streamlined Insights into customer and services designed to workflows and interactions and both transform and enable collaboration between sales and customer behaviours to improve an organisation’s core service teams overall customer customers, employees and experience business activities. This information can be used to inform “Overall, Microsoft Dynamics 365 Copilot It combines all the product development, marketing represents a major step forward in CRM workloads that a business campaigns, and other key business technology, bringing next-generation AI needs to run including decisions. to every line of business. As a leading finance, sales, supply Other features include improved provider of customer relationship chain, retail and customer productivity and efficiency. By automating management solutions, The CRM Team is service. It also includes AI routine tasks and providing personalised excited to offer this powerful new tool to and machine learning to recommendations, Copilot can help sales our customers and help them drive growth enhance core offerings and and customer service professionals work and enhance customer experiences,” he provide industry-leading more efficiently and effectively. This can concludes. solutions to common result in increased productivity and more problems like AI-enhanced time spent on high-value activities, such as BY EMIL HICKLEY, cash flow forecasting, building relationships with customers and THE CRM TEAM: HEAD OF ENGINEERING and the optimisation closing sales. and automation of order fulfilment. Finally, Dynamics 365 is built on Microsoft Azure, which offers a trusted platform and a broad ecosystem of services, and it is integrated with Microsoft 365’s productivity apps such as Outlook, Office and Microsoft Teams. CEO GLOBAL MAGAZINE ISSUE 3 VOL 23 31
INtheKNOW Helen Kruger, the CEO HELEN of Troye, discusses the KRUGER difficulties that CIOs face in today’s fast-paced and ever-changing environment. THE CHANGING ROLE OF CIOS IN MODERN BUSINESS IN TODAY’S RAPIDLY EVOLVING BUSINESS WORLD, THE ROLE OF THE CIO HAS BECOME INCREASINGLY VITAL IN DRIVING ORGANISATIONAL PRODUCTIVITY. HOWEVER, THESE EXECUTIVES ARE CONFRONTED WITH CHALLENGES SUCH AS OUTDATED TECHNOLOGY, INSUFFICIENT INFRASTRUCTURE, AND INCREASING TECHNICAL DEBT. elen Kruger, the CEO of Troye, A recent study conducted by Citrix has • 64% of business leaders state that the revealed that CIOs now have a major role CIO has control over the majority of the H discusses the difficulties that in determining organisational budgets and organisation’s budget. CIOs face in today’s fast- shaping business strategy. The study was paced and ever-changing based on interviews with 3,300 business • 73% of business leaders consider environment. leaders from large and mid-market having a vision for the future as crucial for companies across the world. being a successful tech leader in today’s Despite these challenges, CIOs are world. positioned to drive overall business improvement if they can be relieved of The study indicates that the role of their day-to-day technology management THE NEW ROLE OF CIOS CIOs is rapidly expanding and includes duties. Gone are the days when CIOs were responsibilities such as regulation and only responsible for constructing and With the current economic climate, compliance, ESG performance, and more. maintaining networks. companies are relying on their tech leaders The new responsibilities require new to serve as strategic business partners. The skills, with emotional intelligence being The modern CIO is now tasked with data showed that: considered as one of the most important creating a productive work environment qualities for a successful tech leader. that allows employees to be productive, • 67% of business leaders believe that regardless of location or time. This new the CIO is now second only to the CEO generation of CIOs focuses on people in shaping and delivering the business while also implementing automation strategy. and is more deeply integrated into the organisation than ever before. 32 VOL 23 ISSUE 3 CEO GLOBAL MAGAZINE
“allows employees to be productive, regardless of BALANCING TRADITION location or time AND TRANSFORMATION INFRASTRUCTURE AND While the role of CIOs is evolving, more Today’s CIOs are expected to lead TALENT CHALLENGES needs to be done to enable them to focus technology transformation, but at the on higher-level business strategy work. same time, they are dealing with legacy The research also highlights that many infrastructure and transformation projects. CIOs are still grappling with infrastructure In order to aid CIOs with this complex task, They also play a crucial role in addressing challenges. 67% of C-level tech leaders Citrix partners such as Troye specialize the talent crisis by maximising employee (1,100 respondents) stated that legacy in designing secure digital workspaces productivity and leading automation systems and technical debt are significant that provide customers with an enhanced projects. hurdles in their role. experience. With our solutions, customers can access all their apps, desktops, CIOs are caught between the ‘traditional’ The tech industry is facing a talent crisis files, and services on a unified platform, role of gatekeeping infrastructure and and a looming leadership vacuum, with regardless of their location, device, or managing digital transformation projects, 46% of C-level tech leaders delaying network. and the ‘transitional’ role of defining and their retirement due to a lack of suitable refining workplace technology and driving replacements. CIOs are now responsible Troye’s digital workspace solutions simplify business strategy. They must manage the for ensuring that all employees have the complexity and enhance productivity, introduction of new technologies while technology they need to work effectively, speed, and efficiency for CIOs. Our retaining the value of existing systems. and half of them are involved in tech solutions enable people to work safely troubleshooting for employees. and securely, resulting in their best work Successful CIOs will invest in infrastructure output. Additionally, our solutions provide that allows them to manage the past and CIOs with the necessary agility and prepare for the future. Tech leadership is flexibility to succeed in the future. now closely tied to organisational success, and CIOs must adapt to their role as change agents. CEO GLOBAL MAGAZINE ISSUE 3 VOL 23 33
HUMANS REMAIN THE NUMBER ONE ATTACK VECTOR: J2 SOFTWARE CAPTURES BEHAVIOURAL DATA AND CONTEXT TO MITIGATE INSIDER RISK J2 SOFTWARE, A LEADING PROVIDER OF CYBERSECURITY SOLUTIONS, EMPHASISES THE IMPORTANCE OF HUMAN-CENTRIC CYBERSECURITY IN ADDRESSING INSIDER RISK. ith insider risk on the rise and According to cybersecurity expert and J2 WGartner predicting that 50% Software CEO John Mc Loughlin, humans of organisations will have will always be the number one attack adopted an insider risk program by 2025, vector, regardless of whether the ultimate J2 Software recognises that enterprise event is a ransomware or phishing attack. security is only achievable when the “eliminating cyber strategy “The human is is underpinned always driving the by the human car, before and element. after the exfiltration has occurred. The cybersecurity false positives That is why J2 company Software’s insider believes that a and arming risk management holistic insider solution focuses risk program organisations on capturing that captures behavioural data contextual, and context to behavioural enable quick and telemetry is the easy detection and only way organisations can proactively mitigation of insider risk while respecting prevent data loss. Its experience has employee privacy.” shown that multiple point solutions such as UAM, DLP, or UBA aren’t effective in addressing the root cause of data loss: the There are solutions that provide enterprise- human element. wide visibility and capture only the data 34 VOL 23 ISSUE 3 CEO GLOBAL MAGAZINE
J2 The continued rise of J2 is a security focused cybercrime, identity African technology theft and confidential business founded in 2006 data leakage drives to address the need for the requirement for J2 effective cybersecurity, Software’s managed governance, risk and cyber security service compliance solutions in offerings, not only for Africa. competitive advantage, but as an absolute business J2 delivers essential tools necessity. The company that empower organisations offers managed cyber security services for every to take control of their business. We ensure that technology spend. The you have greater visibility to company’s hand-picked identify risky behaviour and solutions provide complete enhance the capability to visibility over its customers’ respond to prevent losses. environment, while reducing risk and lowering costs. that matters, eliminating false positives and J2 Software is helping arming organisations with the power they improve the cyber need to be left of boom. Heavy-handed surveillance such as keystroke logging and resilience of our customers screen capture does nothing to address and provide services to risk and only erodes trust. more than 350 customers By using an insider risk management on 4 continents. solution, companies can fuel the operational and cultural dynamics “humans will conducive to a trusted, respected, and protected workplace, where security is a always be the natural by-product. number one attack vector As J2 Software works closely with its customers to support their insider risk John Mc Loughlin, management efforts, the company is J2 Software CEO committed to educating companies about the importance of human-centric ISSUE 3 VOL 23 35 cybersecurity. It believes that enterprise security can only be achieved when the human element is considered and addressed, and the company is committed to helping organisations implement insider risk programs that capture the data that matters while respecting employee privacy. CEO GLOBAL MAGAZINE
AFRICADAY THE CONTINENT HAS CHANGED, BUT HAS OUR NARRATIVE? IT WAS AFRICAMONTH AND AFRICADAY ON 25 MAY, I WANTED TO STOP AND REFLECT ON SOME OF THE SUCCESSES ACROSS OUR CONTINENT. frica may have many challenges It’s not just connecting the people of Africa to each other and the world, it’s also Abut there’s no shortage of great building a formidable financial services game-changing African success platform that allows people to be part of stories. Take mobile network giants like the economy using no more than a mobile Safaricom and MTN, for example. Kenya- phone. based Safaricom was founded in 1997, and ten years later changed the world of Nigerian payments unicorn Flutterwave is mobile payments forever with the launch among the leaders of a tsunami of African of mobile money service M-Pesa, which FinTechs and startups that are seizing has helped lift millions of Africans out of the opportunities offered by the digital poverty. world to change the lives of the people of our continent. Barely eight years old, it is Africa’s biggest mobile network operator, valued at around $3 billion, ahead of the $2 MTN, has close to 300 million customers billion valuation of fintech OPay and cross- across 19 markets on the continent. border payments platform Chipper Cash. First published in Africa Day CEO GLOBAL MAGAZINE 36 VOL 23 ISSUE 3
And we haven’t even touched on the OVERCOME THE BARRIERS. likes of sprawling Nigerian conglomerate Dangote and South African born internet If we’re going to fully harness technology giant Naspers. and creativity to improve social outcomes in Africa, we’re going to have to address So, how do we piggyback on these some challenges. One of them is the digital success stories in a way that gives our divide. As recently as 2021, only four out continent something to celebrate every of 10 people in Africa had internet access, day? compared to the global average of around 66 percent. If we want to unlock the power CREATIVITY AND of digitisation, we must work on this. INNOVATION Then there’s the perennial lack of access I’m a huge believer that Africa’s famous to capital and expertise to support local creativity can help address social inequality innovators and entrepreneurs. The fact is challenges across our continent. We that many African startups still struggle to already lead the world in using creative access funding, which limits their ability to solutions like mobile banking to transform scale their innovations. While investment access to financial services, reduce poverty in Africa’s tech startup ecosystem passed and promote financial inclusion. the $3 billion mark for the first time in 2022, it’s still a drop in the global bucket. We’re A couple of weeks ago, I posted a link to going to have to work together across industries and sectors to create greater “giving our the 1t.org initiative by the World Economic access to capital. Forum, which aims to grow one trillion continent trees by 2030. Ambitious? Sure. But Also, many entrepreneurs simply lack look beyond the trees for a moment. the necessary skills and networks they The point is that we’re bringing together need to succeed in global markets. The environmental issues, creative approaches, opportunities are there. An IFC study technology and innovation to overcome a estimates that over 230 million jobs in challenge. sub-Saharan Africa will require digital skills by 2030. To grab them, and enable our something Back in 2017, the UN published a resolution entrepreneurs, we’ll need more investment that recognises creativity and innovation in incubators and small businesses, and a greater focus on training and mentorship to celebrate as being essential for ‘harnessing the for entrepreneurs. economic potential of nations and creating every day momentum for the achievement of SDGs Creativity. Innovation. Technology. The by transforming society, creating jobs and three key ingredients to unleash Africa’s expanding opportunities for all, including future. It’s time to use them smartly to accelerate development on our continent. women and youth’. To promote social justice. To change the lives of our people. It’s time for Africa. And a report by the UNDP and UNESCO recognised human creativity and BY LEE NAIK, innovation as the true wealth of nations in the 21st century. We must do more to create an enabling environment for creation and innovation in Africa, and help our people turn their ideas into products, services, and revenue streams that will change the world. CEO GLOBAL MAGAZINE ISSUE 3 VOL 23 37
GREED, CRIME AND PUNISHMENT MTI IS A PONZI SCHEME, STEYNBERG FINED R64 BILLION nd regardless of your opinion on MAY 18, 2023THERE ARE PROBABLY SEVERAL WELL-WORN BIBLICAL- WRATH-STYLE PLATITUDES YOU COULD SUCCESSFULLY APPLY Ajustice - Biblical or otherwise - the bottom line is this: TO MIRROR TRADING INTERNATIONAL’S (MTI) FOUNDER AND CEO JOHANN STEYNBERG: Almost two years after MTI’s spectacular collapse, in what has since been labelled “THOSE WHO PLOUGH EVIL AND SOW TROUBLE REAP IT.” “WHO- one of the biggest crypto scams in the EVER DIGS A PIT SHALL FALL INTO IT.” “THE TROUBLE THEY CAUSE world, Steynberg’s chickens may well be RECOILS ON THEM; THEIR VIOLENCE COMES DOWN ON THEIR OWN coming home to roost. HEADS.” “A MAN REAPS WHAT HE SOWS.” I COULD GO ON, BUT YOU GET THE IDEA. On April 24th, Judge Lee Yeakel of the US One of the most important findings of the District Court for the Western District of investigation was that Steynberg failed to Texas ruled that Steynberg stole funds disclose, among other things, that: from MTI members by depositing and holding their investments in his e-wallets. “Steynberg, individually and as the agent of He misappropriated pool participants’ MTI, misappropriated participants’ Bitcoin funds by soliciting them for trading for his personal use,” he said. and then retaining them in his personal Judge Yeakel ordered him to pay $1.73 E-Wallets instead of segregating them in billion in restitution “It all a pool account to to the defrauded trade on behalf victims of his of participants as unconscionable promised. scheme. On top of that, he’s been MTI was not registered with ordered to pay an sounded so the CTFC and he additional $1.73 was therefore billion as a civil reasonable, operating an monetary penalty. honest and unlawful business safe. enterprise. In Rand terms (R64 billion), it’s Monies paid out to the highest civil some participants monetary penalty as “returns” on their investment ever ordered in were, in fact, the principal deposits of other a case involving the Commodity Futures participants. Trading Commission (CFTC). In their response, the CFTC said, “The It was humbling to note that, when making order finds that Steynberg, the founder his ruling, Judge Yeakel was quick to praise and CEO of Mirror Trading International the quality of the investigation conducted Proprietary Limited, a company currently in by me and my team on behalf of the liquidation in the Republic of South Africa, Financial Sector Conduct Authority (FSCA). is liable for fraud in connection with retail 38 VOL 23 ISSUE 3 CEO GLOBAL MAGAZINE
foreign currency transactions, fraud by an De Wet ruled that all agreements At the time MTI was operating, South associated person of a commodity pool concluded between MTI and its investors Africa’s repo rate was 3.5% per annum. operator, registration violations, and failure “in respect of the trading/management/ Twenty percent over this would be 23.5% to comply with CPO regulations.” investment of bitcoin” were unlawful. per annum. MTI was promising up to 500%. Just two days after the US ruling, the Investors were promised even bigger Western Cape High Court ruled MTI was an “unlawful Ponzi scheme” that generated Both the Texas and Western Cape rulings returns if they referred other “investors” returns for early investors by taking them from the investments of those who joined confirm earlier reporting from data analysis to MTI. Thousands of people were talked later. firm Chainalysis, which cited MTI as 2020’s into “investing” in MTI. The tragedy is, many The Court declared that MTI’s underlying biggest global cryptocurrency investment were so seduced by the potential returns business model was “designed and scam that operated as a “money that they liquidated insurance policies, sold implemented to perpetrate fraud on laundering and cash out mechanism”. their houses, or took early retirement to be members of the public”. able to spend more time working on the But perhaps before we go any further scheme. “The remarkable results presented to into what these two landmark rulings investors were prima facia false,” said acting Judge Alma de Wet. “The fraud might mean for Steynberg and his victims, When things went sideways – which they perpetrated by Steynberg and MTI were not isolated incidences but rather we should refresh our minds as to how did with cruel and merciless speed – thou- fundamental aspects of the structure of the businesses and as such tainted the things reached this point. Before things sands of people lost everything they had. business operations of MTI as a whole.” went so catastrophically wrong for the Heart-rending stories of victims having to Stellenbosch-headquartered bitcoin- live in friends’ garages emerged, as did trading scheme, what happened to make many tragic reports of suicides. them go so right? To many, it seems incredible that so many people (actual numbers differ but Mirror Trading International was founded are rumoured to be over 30 000 in 146 and registered in Northcliff, Johannesburg, countries) were duped into investing South Africa in April 2019. It presented itself such vast sums of money into a largely as a source of passive income. unproven scheme. “Surely they should have read the tea leaves, and seen the “All” you had to do was deposit a minimum writing on the wall…?” we ask, incredulously. of $100 worth of Bitcoin, and MTI promised to grow it using what they falsely claimed But Steynberg is not a stupid man. was a proprietary AI-powered foreign He presented exchange trading MTI as a credible, software program. trustworthy solution to all your Algorithmic trading money worries. is a common premise for many MTI’s website content says things “promisingcryptocurrency like, “We take all customersinvestment consistentscams, and the hassle out of Forex trading by Johann Steynberg used it to great daily returns doing it all for you,” effect, promising “Johann’s vision for customers of up to 0.5% the company is to consistent daily provide investors returns of up to with a passive 0.5%. and sustainable form of income,” and Our Consumer Protection Act (CPA) “MTI offers a reasonable daily profit; the defines anything that offers an effective company does not overstate the potential annual interest rate of at least 20% above or make unrealistic promises.” the repo rate as a multiplication scheme There were also slick, smooth, and and prohibits anyone from directly or beautifully produced promo videos that indirectly promoting, or knowingly joining lured millions of people in with their or participating in such schemes. promise of effortless profits. CEO GLOBAL MAGAZINE ISSUE 3 VOL 23 39
“Sit back, relax, and watch your Bitcoin In the light of the recent judgements in WHAT IS A PONZI SCHEME? grow,” and “MTI is the investor’s game the US and Western Cape, what does the The scheme takes its name from Charles changer,” are just two of the gems from future hold for these, and all the other Ponzi, the mastermind behind the first of this type of scam over 100 years ago in one of their videos. people caught up in the MTI nightmare? Is 1920. It all sounded so reasonable, honest and there any hope of ever recovering any of Ponzi schemes usually seduce investors safe. And of course, so darn profitable. their lost millions? with promises of high returns with little or no risk. Investors usually see these Which is what makes it even more tragic The experts say no. But others say there promised returns in the beginning, which when you read the comments people left might be a thin ray of hope. gives them the confidence to continue investing and, crucially, to introduce others below these videos on YouTube (made Let’s not hold our collective breath. to the scheme. between two and three years ago): The CFTC has warned that the restitution Schemes almost always start to unravel as soon as the stream of new investors slows “I am loving MTI more. Finding that the order, while outwardly encouraging, may down enough that investors can’t be paid “Is there any anymore - early investors are paid “returns” BINARY BONUS not result in the from funds contributed by later investors. is PERPETUAL, hope of ever recovery of the and NOT one time stolen Bitcoin as HOW TO SPOT A PONZI only. More power “wrongdoers may SCHEME to MTI. Hope not have sufficient more people will funds or assets.” Watch out for “investment opportunities find MTI. Great that have some of or all the following opportunity. Yay!” In addition, there characteristics: remains the Guaranteed high returns with minimal risk. recovering anyAnd not-insignificant Consistent returns regardless of what the of their lost rest of the market is doing. “I like this millions technicality that Company; MTI Johann Steynberg Investments are not registered with the truly seems is currently Securities and Exchange Commission. to be doing incarcerated in a Investors are told that investment strategies are either “too complicated to EVERYTHING Brazilian jail, where explain” or “secret.” the right way - to protect their investors he’s been since December 2021 when Official documentation is hidden from investors. and establish this company on a solid he was arrested on an Interpol warrant Clients struggle to withdraw their funds, foundation for the long haul. I too am for attempting to use a fake passport. He despite the initial promise that they can do so at any time. delighted to have found MTI!” remains a fugitive from South African law We know that hindsight is 20/20 vision, enforcement. and it’s easy to say investors should have So, while the judgements against him known better. But that smug wisdom is and MTI are undoubtedly precedent- scant consolation for the people whose setting, whether they will prove to make lives have been forever shattered by any tangible difference in the lives of his Steynberg’s scheme. victims remains to be seen. BY JACQUES VAN WYK, JGL FORENSIC SERVICES MD 40 VOL 23 ISSUE 3 CEO GLOBAL MAGAZINE
CEO GLOBAL 2023 AWARDS SUBMISSION & NOMINATIONS These awards ISSUE 3 VOL 23 41 are about you, your contribution, your influence and not about the organisation you represent COMPLETE ONLINE AT: WWW.CEOGLOBALGROUP.COM • Please complete ALL questions in the Entry Form to speed up your route to the list of finalists. • All documentation needs to be submitted in order for the entry to be considered. CEO GLOBAL MAGAZINE
GOAL SETTING GOAL SETTING IN MANY ORGANIZATIONS HAS BECOME SOMETHING OF A LOST ART. IT’S AS IF SENIOR LEADERSHIP AND THEIR OPERATING TEAMS HAVE ABDICATED THIS CRITICAL PROCESS OVER TO HUMAN RESOURCES AND CAREER DEVELOPMENT. y experience has been that * Strategic initiatives remain strategic and Edwin Locke was among the first to lie dormant at the organization’s top, failing recognize the connection between Mgoals are often used to satisfy to reach the whole team because they’ve employee motivation and great goal- a personal need or career not been effectively translated for the setting, which we desperately need requirement, to check off a box, and in whole organization. Many don’t know what to return to. Great execution is goal- the process, to show a result of any kind, they are and what needs to be done to dependent. If people don’t know how they intimating that the organization is doing achieve them. individually impact key company initiatives, something right. they remain disconnected, unmotivated, and unsure how best to work toward their Current-day goal-setting practices don’t * Leaders and managers agree to non- achievement. look at managing performance or strategy meaningful goals with their direct reports execution. It’s no longer about finding just to get something down on paper and Goals drive individual and team purpose in accomplishing something fulfil a requirement. performance, always supporting the considerable that will either improve strategy. the organization or move it substantially * The inability to identify or show an forward. employee what’s needed from them to How can an organization function without support larger, critical company initiatives. meaningful goals? Goals have a purpose beyond being part of As a result, key objectives remain an annual evaluation process. Here’s a list unfulfilled. How can we lead without the use of proper of some of the unexpected outcomes that goal-setting? occur when goal-setting lacks intention: * Finance, sales, operations, marketing, and other functions become heavily BY WAYNE NELSEN, * Leaders and managers become siloed for lack of a shared or common KEYNE INSIGHT PRESIDENT frustrated from not actively participating purpose. Without purpose, these groups in goal setting. They lead unable to tie dig into their day-to-day work to make K E Y NSEI GIHNT- what their people do to what the company the department look its’ best, often at the needs to be accomplished. organization’s expense. HTTPS://KEYNEINSIGHT.COM/ 42 VOL 23 ISSUE 3 CEO GLOBAL MAGAZINE
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MAY WAS THE END OF INTERNATIONAL WOMEN’S MONTH IN 2023. FOR MANY AFRICAN WOMEN, IT WAS MEANINGLESS. FOR ALL THE TALK OF CLOSING GENDER GAPS AND CREATING GREATER DIVERSITY IN OUR WORKFORCES, THE FACT REMAINS THAT WE’RE STILL LIVING IN A MALE- DOMINATED WORLD. BUILDING EQUALITY AND EMPOWERMENT IN A MALE- DOMINATED WORLD An Africa.com study found 581 companies listed on the 24 African stock exchanges with revenues exceeding $100 million or a round the world, women face market cap of over $150 million or more. Of A inferior income opportunities those, only 35 had women CEOs. compared with men. They are less likely to work for income, actively Why does that matter? If for no other seek work, or work in formal employment. reason, it’s good business. An IBM study In sub-Saharan Africa, the World Bank suggests that companies that prioritise “Hire for estimates that 74.1% of men participate in the advancement of women grow their equality the labour force, compared to 62.9% of revenues by up to 60% more than their If we don’t get equal numbers of women in the workforce to start with, how will we women. And when they do work, women competitors, and 60% say they are more ever have equality higher up the leadership ladder? It’s vital that we invest in the have fewer opportunities for business innovative. And we haven’t even touched recruitment and development of young entry-level female professionals, and to expansion or career progression, and they on the broader socio-economic and moral give them similar levels of responsibility from day one. tend to earn less. consequences of driving equality in our workplaces. According to a recent McKinsey study, women are less likely to be hired into So, what are we, as African business entry-level roles to start with. After that, leaders, going to do to create more fewer women rise through the ranks healthy, equitable and inclusive because of the ‘broken rung’ at the first workplaces? How will we go beyond the step up to management. For every 100 grand talk of targets and measurement, men promoted from entry-level positions, and actually start actively removing only 87 women are promoted. In the US, barriers and ensuring equity throughout only 26% of corporate C-suites are made our organizations? I see four clear areas of up of women. action. 44 VOL 23 ISSUE 3 CEO GLOBAL MAGAZINE
TransUnion Africa We’re a leading global risk and information solutions provider with a strong presence in eight countries in Africa. “Fix ‘the broken Our broad portfolio includes products that address rung’ fraud, identity and risk When you have a situation where men management, automated significantly outnumber women at the decisioning, and marketing. manager level, women can never catch Our customers include 4 of up. There are simply too few women to promote to more senior leadership the 5 largest banks, 11 of positions. We also have to support the the top 12 retailers, the top careers of entry-level women in the same 10 insurance companies, 7 way that we do for their male counterparts. of the largest auto dealers, In a Wall Street Journal article, ‘The Pay and top multinationals in Gap for Women Starts With a Responsibility banking, retail and telcom. Gap’, UC Berkeley Professor Laura Kray talks about how female managers are “Start building the WWW.TRANSUNIONAFRICA.COM/M/ often told they just need to demand more pay, but they are undermined by being pipeline. given smaller roles. As corporate Africa, we can no longer The numbers tell their own story. It’s time Do more to keep and build our women shrug our shoulders when it comes to change that narrative. We must work leaders. to social issues like education and together as businesses to find innovative opportunities. We have to play meaningful solutions to help women and girls unleash As McKinsey points out, women leaders roles in shifting the norms that are their human capital and become the want to be promoted and aspire to senior- hindering the education of our adolescent leaders, entrepreneurs, and agents of level roles just as much as men. However, girls, and actively supporting young change that we know they can be. Our the business culture subtly undermines women in their transition to the labour future depends on it. them. They are far more likely to have col- market. By getting more young women leagues imply that they aren’t qualified for to complete their education, especially in BY LEE NAIK, their jobs, or to be mistaken for someone STEM subjects, and showing them first- CEO TRANSUNION AFRICA more junior. Gender biases are deep-seat- hand the possibilities that this unlocks, ed and profoundly damaging. It’s up to all we’re building our next generation of of us to confront these biases, and to work young women employees and leaders. more closely to hear and understand the needs of our future woman leaders and support their growth. CEO GLOBAL MAGAZINE ISSUE 3 VOL 23 45
WHY FINANCIAL LITERACY MATTERS IN A WORLD OF DISRUPTION ight now, the need for financial and our businesses – and how we seize But we can’t leave the job of educating the opportunities they present – will our consumers to central banks. If we want R literacy has never been determine not only the future health of the benefits of going cashless, we have to greater. Across the continent, our businesses, but of entire national and make sure we don’t leave the underserved the people of Africa are reeling under regional economies. and unbanked behind. the onslaught of rising interest rates and inflation. They’re spending more every THE MOVE TOWARDS A THE RISE OF FINTECH month on basics like food, housing and CASHLESS SOCIETY transport. Is there a hotter sector right now than We’re living in an age of digital money. FinTech? If there is, please lead me to TransUnion’s research shows clearly Today, you can pay for goods and services it. Investment in Africa’s tech startup that consumers are cutting back their using your smart watch and some ecosystem passed the $3 billion mark discretionary spend and having to make countries are using a ‘Smile to Pay’ facial for the first time in 2022, despite a global some hard choices when it comes to recognition payment service. The EU is downturn in investments. Overall, funding paying their bills at the end of each month. looking at introducing a digital euro. But for African tech startups has increased by Financial literacy can help them navigate can Africa truly ever go cashless? And over 1,000% since 2015. these stormy times. should it? FinTech is also creating jobs, skills and Why does this matter for us as business I see a hybrid approach emerging. There’s opportunities across the continent. An IFC leaders? For one, the knock-on effects no doubt that more of us are going - International Finance Corporation study of better financial literacy can be seen cashless, but cash will continue to play an estimates that over 230 million jobs in sub- in customer health and their ability to important role in African societies for the Saharan Africa will require digital skills by grow. When our customers struggle to foreseeable future. The game-changer 2030. It’s up to us, as business leaders, to make ends meet, they pose a massive here is the rapid growth of smartphones help create the skills we need to be part of risk to entire industries: retail, credit, auto, across the continent, which has created an the digital revolution. housing. entire generation of tech-savvy consumers who are comfortable transacting from their At the same time, we’re dealing with mobile devices. several disruptive trends. How we manage the impact of these trends on our clients 46 VOL 23 ISSUE 3 CEO GLOBAL MAGAZINE
I WANT TO SHARE SOME THOUGHTS ON A TOPIC THAT’S CLOSE TO MY HEART. FINANCIAL LITERACY HELPS ORDINARY CONSUMERS MAKE BETTER FINANCIAL CHOICES. IT BRINGS UNDERSERVED AND UNBANKED PEOPLE INTO THE FINANCIAL MAINSTREAM. IT MEASURABLY IMPROVES THEIR QUALITY OF LIFE, REDUCES THEIR STRESS, AND UPLIFTS ENTIRE COMMUNITIES. CHANGING CONSUMER THE BOTTOM LINE EXPECTATIONS We live in turbulent economic times, but The real trend here, and what’s important we still need to grow our businesses, to businesses, is the way FinTech is manage our risks around several disruptive fundamentally changing our relationship trends, and keep driving greater financial with money and the way we buy and sell inclusion. Better use of alternative data can goods. identify previously credit-invisible people and predict their financial behaviour. But to The fact is that younger generations – bring them into the financial mainstream which just happens to be most of the and keep them there will take a concerted African population – want different things effort to improve and grow financial from money and FinTechs than millennials. literacy. The future of our businesses, and Millennials want the ease of mobile our continent, depends on it. payments. Gen Z wants convenience and customisation, and finance that’s purpose “Investment and values driven. We’re going to have to find ways to educate all these audiences as in Africa’s we drive home-grown solutions to Africa’s tech startup financial inclusion challenges. ecosystem passed the $3 billion mark BY LEE NAIK, CEO TRANSUNION AFRICA CEO GLOBAL MAGAZINE ISSUE 3 VOL 23 47
GREATEST ECONOMIC CHALLENGES IN SOUTH AFRICA TODAY THE GREATEST ECONOMIC CHALLENGES IN SOUTH AFRICA’S ECONOMY IS VAST AND WE ARE STARING AN ECONOMIC IMPLOSION IN THE EYE IF WE DO NOT ACTIVELY AND IMMEDIATELY TAKE ACTION. et’s look at mining REGULATORY UNCERTAINTY: social issues such as water Some strategies that could Regulatory uncertainty in scarcity, air pollution, and help to ensure economic L and government, recent years, which has led the displacement of local growth and job creation in the essential bodies to to a decline in investment. communities. mining sector include: ensure economic growth. Uncertainty around issues Challenges are a given, such as mineral rights and the These pressures are leading to PROMOTING INVESTMENT: especially where we have a Mining Charter has made it increased regulatory oversight Attracting investment in the defunct government that lacks difficult for mining companies and compliance costs, which mining sector is critical for the ability to grow the country’s to plan and invest for the long are further impacting the economic growth and job economy. term. profitability of the sector. creation. The government can play a role in promoting Some of the serious economic LABOUR UNREST: Labour Yet, another significant investment by providing challenges we have today, that unrest is a significant question that needs to be a stable and predictable effects not only South Africa challenge with strikes and asked and answered is, how regulatory environment but have consequences for work stoppages leading can the mining sector in South and offering incentives for the whole of Africa are faced to production losses and Africa ensure economic investment. by the mining industry in South increased costs. The industry growth and job creation? Africa. has also been plagued by ENHANCING PRODUCTIVITY: violence and conflict between The mining sector has the Improving productivity in DECLINING PROFITABILITY: workers and management, potential to contribute the mining sector can help This is due to a combination which has further undermined significantly to economic to increase profitability and of factors, including rising productivity and profitability. growth and job creation, but create jobs. Strategies to production costs, falling achieving this will require enhance productivity could commodity prices, and ENVIRONMENTAL AND a concerted effort from include investing in technology decreasing ore grades. These SOCIAL PRESSURES: There government, industry, and and innovation, improving challenges are leading to a is growing pressure to other stakeholders. operational efficiency, and reduction in investment and job address environmental and upskilling workers. losses in the sector. 48 VOL 23 ISSUE 3 CEO GLOBAL MAGAZINE
FOSTERING RESPONSIBLE CIRCUMVENTING DEVELOPING STRONG MINING PRACTICES: ECONOMIC PARTNERSHIPS: Developing Adopting responsible mining IMPLOSION IN strong partnerships with other practices, such as reducing SOUTH AFRICA companies and stakeholders, environmental impacts and including government, can ensuring the safety and well- Government is playing an help companies to better being of workers, can help integral part in all economic navigate regulatory and to build trust and support sectors in South Africa. Their economic challenges. for the mining sector among incompetency is paramount stakeholders. to the failure in all economic ENGAGING IN ADVOCACY: sectors. What can the industry Companies can engage in ADDRESSING This, in turn, can help to ensure do to circumvent catastrophic advocacy efforts to push for INFRASTRUCTURE the long-term sustainability financial consequences? more favourable policies CONSTRAINTS: Infrastructure and growth of the industry. and regulations, both at constraints such as unreliable While government plays an the national and local level. power supply and poor In summary, ensuring important role in all economic This can help to improve transportation infrastructure economic growth and job sectors in South Africa, there the regulatory environment can hinder the growth of the creation in the mining sector are steps that industries and reduce the impact of mining sector. in South Africa will require a can take to mitigate the risk government incompetence on Addressing these constraints combination of strategies, of catastrophic financial the business. will require collaboration including promoting consequences resulting from between government investment, enhancing government incompetence. BUILDING RESILIENCE: and industry to improve productivity, addressing Companies can build resilience infrastructure and ensure infrastructure constraints, Some strategies that by developing contingency reliable access to power and supporting local communities, industries can consider plans and risk management transportation. and fostering responsible include: strategies. This can help mining practices. to ensure the business is SUPPORTING LOCAL DIVERSIFYING OPERATIONS: prepared to weather economic COMMUNITIES: Mining Addressing these challenges Companies can diversify and regulatory challenges. companies must support local will require significant effort their operations across communities by investing in and collaboration between different sectors and markets, CONCLUSION: It is a given local infrastructure, providing government, industry, and both domestically and fact that the South African job opportunities and training other stakeholders. Improving internationally. This can help Government has failed programs, and supporting the regulatory environment, to reduce reliance on any one dismally in creating and local economic development addressing labour issues, sector or market and mitigate building a robust economy initiatives. This can help to build and investing in infrastructure the impact of government and that it has significant positive relationships between and technology could all help incompetence on the business. impacts on all economic mining companies and local to improve the economic sectors in South Africa. All communities and contribute to performance of the mining INVESTING IN TECHNOLOGY industries have to take steps broader economic growth. industry in South Africa. AND INNOVATION: I to mitigate these impacts nvesting in technology and by diversifying operations, innovation can help companies investing in technology and to improve operational innovation, developing strong efficiency and productivity, partnerships, engaging reducing the impact of in advocacy, and building government incompetence on resilience. the business. BY CARL WEPENER CEO GLOBAL MAGAZINE ISSUE 3 VOL 23 49
UNITE AFRICA AND EUROPE IN CASE YOU MISSED IT: MOROCCO AND SPAIN REVIVE PLAN TO UNITE AFRICA AND EUROPE: THE COMPLEX HOLOGRAPHY OF THE STRAIT OF GIBRALTAR HAS ALWAYS BEEN AN IMPEDIMENT TO THE PROJECT TO LINK THE TWO CONTINENTS - EUROPE AND AFRICA - WHICH FOR DECADES WAS AN INORDINATELY COMPLICATED MILESTONE. ituated in the middle of CEO GLOBAL MAGAZINE Stwo tectonic plates with frequent earthquakes, albeit of lesser strength, the Strait has always been a strategic point in terms of trade and commercial transport, the influx of immigrants who cross it in search of greater opportunities in Europe, and a key military point, as demonstrated by the installation of the Rota Naval Base (NAVSTA) for US military use, one of the most important for Washington. The reactivation of the project stems from the High Level Meeting (HLM) held on 1 and 2 February between the Spanish and Moroccan Executives. During the meeting, both nations reaffirmed their commitment to advance studies on the Fixed Link Project to connect the two shores, which are only 14 kilometres apart. The economic benefits that would be generated by linking the Peninsula with the African continent could reach figures that would displace other vitally important European enclaves, such as the link between the UnitedKingdom and France via the Eurotunnel that crosses the EnglishChannel. Telecommunications, freight transport and the potential creation of an intercontinental rail network are the pretexts most dreamed of by La Moncloa and Rabat, which could become more than a reality in a matter of a few years. BYMARK-ANTHONY JOHNSON JIC HOLDINGS CEO 50 VOL 23 ISSUE 3
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