Month: March 2012

Photo:  The publisher, Forbes Africa Magazine, Mr. Rakesh Wahi presenting “Person of the Year 2011” to the CBN Governor, Mallam Sanusi Lamido Sanusi on Monday, November 28, 2011.

Mallam Sanusi Lamido Sanusi, arguably the most decorated Governor of the Central Bank of Nigeria (CBN), has emerged winner of the Forbes Africa Person of the Year 2011. The announcement was made on Monday, November 28th at the inaugural Forbes Africa Person of the Year awards ceremony organised by ABN Productions, at the Sky Restaurant, Eko Hotel in Lagos, Nigeria.

The event was attended by high ranking officials and businessmen from Nigeria and across Africa, with the Governor of Lagos State Babatunde Fashola and the Governor of Rivers State, Rt. Hon Rotimi Amaechi delivering keynote addresses.

Sanusi Lamido Sanusi was named winner from a shortlist of five of Africa’s most influential personalities. According to the Managing Editor of Forbes Africa, Chris Bishop, “they have had significant influence on the events of 2011 on the African continent.” The shortlist includes: Ellen Johnson Sirleaf, president of Liberia, Africa’s first female Head of State; Pedro Veron Pires, former president of Cape Verde, who won the 2011 Ibrahim Prize for Achievement in African Leadership; Aliko Dangote, a Nigerian businessman and philanthropist, president of Dangote Group; and the late Professor Wangari Mathaai, Nobel Prize Kenyan environmental and political activist.

Sanusi was selected by a judging panel consisting of BBC bureau chief, Peter Burdon; CNBC Africa chief editor, Godfrey Mutizwa; Reuters bureau chief, Matthew Tostevin, Managing Editor Forbes Africa, Chris Bishop and Forbes Africa senior journalist, Vuyo Mvoko.

Since assuming office as CBN Governor, Sanusi’s far-reaching reforms in Nigeria’s banking sector have won him many accolades at home and globally. He has has been conferred with no less than five Honorary Doctorate Degrees from various Nigerian Universities, most recent by the University of Benin and Benue State Universit, Makurdi; he was named Central Bank Governor of the Year in Sub-Saharan Africa for the second consecutive year by the international business magazine, Emerging Markets; the global Central Bank Governor of the Year 2011 by The Banker Magazine , a publication of the Financial Times of London; and various media organisations in Nigeria, including Silverbird, Leadership, Nation and Tribune named him their Man of the Year between 2009 and 2011. He has also been named by Time Magazine to be among the 2011 TIME 100 Most Influential people in the world among others.

The rigour with which the CBN tackled its banking crisis is testament to the determination and courage of Governor Sanusi. The hard line reforms, which drew criticisms and personalised attacks from some interested parties on the domestic front, earned him the approval of even western regulators and politicians, many of whom are still struggling for solutions to the financial crises in their own countries.

Some of the unique features in Sanusi�s handling of Nigeria’s banking crisis include; the creation of the Asset Management Corporation of Nigeria (AMCON) backed by legislation, with the mandate to buy up Non-Performing Loans (NPLs) from the deposit banks, while also helping to recapitalize the distressed banks; the deposit banks will pay around 80% of the approximately N620bn ($4.0bn) bank bailout package rather than foisting the cost of on taxpayers; and no depositors have lost any funds in the whole process.

The renewed strength of the Nigerian banking sector juxtaposed against the current impasse in the banking crisis in Europe arguably vindicates the hard line of the Sanusi-led CBN actions in the last 2 years. With the recapitalization of all banks now concluded, Sanusi remains confident that a line has been drawn under the country’s banking crisis, but he warns of continued vigilance as events in Europe and the US unfold.

Beyond banking reforms, Sanusi has continued to act boldly and decisively on the policy front, and, in his capacity as economic adviser to the government, has been persistent in asking difficult questions relating to structural bottlenecks, in a bid to make vital non-oil sectors of the economy such as Agriculture and Power, commercially viable, a stance which has earned him both praise and controversy.

The Lex Column of the Financial Times (Nov 23rd 2011) stated: “Nigeria’s reformist Central Banker Lamido Sanusi is not afraid of bold gestures to keep economic growth on track – and remind investors of policy intent. He has Nigerian banking reforms under his belt (and lenders aware of the need to finance productive economic activity). Now he has effectively devalued the naira, showing that he is prepared to use less subtle means of stoking up economic growth.”

In his acceptance speech, Mallam Sanusi said that �everything achieved as governor is a collective result of the five thousand hardworking workers of the Bank�.

ABN (African Business News), home of the CNBC Africa and Forbes Africa, launched a new-look logo, while also launching a new business unit, the ABN Training Institute.
Through its specialised Corporate Media Training Course, the ABN Training Institute’s aim is to advance the communication skills of both corporate and business professionals across all levels of management, helping them to communicate with credibility and master the art of facing the media.

Corporate executives, spokespeople and captains of industry gathered at ABN’s head offices in Johannesburg, South Africa yesterday, 5 March 2012, and joined ABN Group managing director, Roberta Naidoo and head of training, Eleni Giokos for the launch of the ABN Training Institute.

Studios where the course will be presented were unveiled by Rakesh Wahi, founder and vice chairman of the ABN Group. Joining him for the ribbon-cutting was Gauteng Education MEC Barbara Creecy, who was also the keynote speaker for the launch function.

Giokos told the audience that the ABN Training Institute “offers an intense, practical, ‘Live’ TV experience in authentic TV studios with state-of-the-art equipment, presented by experienced journalists”.

“This highly interactive course offers candidates the opportunity to experience interview scenarios in a ‘live’ environment. This approach ensures delegates develop strong capabilities in all media interactions,” Giokos continued.

The ABN Training Institute offers corporate media training and this is something about which Wahi speaks proudly: “The equipment and the facilitators are of the highest standard. We aim to create value and empower clients by offering world-class media training services to address all media types.”

Naidoo told the ABN Training Institute launch function that she is delighted to welcome the new business unit into the ABN family.

New look

The ABN Media Group was established in October 2006, when founders Zafar Siddiqi and Wahi decided to fill the business news vacuum that previously existed in Africa. Their plan was to become Africa’s leading business news conglomerate

“Since the company worked quickly to fill the gap in the market, it became evident that we would have to create our own identity housing all of the brands, thus ABN360 follows our vision to be Africa’s leading aggregator and distributor of business content and aims to serve our stakeholders and clients while building a home for our staff,” says Wahi.

The group has since launched a new-look logo signifying ABN’s holistic, 360° approach to telling Africa’s business story – first.

More than 250 VIP guests attended the launch of the Africa edition of the premier business magazine Forbes on Wednesday evening in Montecasino’s ballroom

The mag arrived thanks to the same men who brought CNBC to the South Africa, Zafar Sadiqi and Rakesh Wahi of Africa Business News , and Chris Bishop was roped in as editor.

I was curious to learn how one cracks a spot on the cover of the magazine, and Bishop quipped: “Influence. Topicality. Character. Do I need to mention wealth?”

The magazine became available in South Africa, Nigeria and Kenya from the end of last week.

Bumped into Brand South Africa’s Miller Matola chatting to the IDC’s executive director of marketing and corporate affairs, Neo Mokhesi, but Matola would not pose for a picture without his chairman, Anitha Sony.

I suppose the man knows where his bread is buttered.

Sonia Booth arrived with her BFF. I asked her why she had not come with her hubby, Matthew, and she reminded me that he was now based in Cape Town, playing for Ajax. I asked her if she now sold shoes, but the local wag quickly set the record straight: “I manufacture shoes, darling. I have a factory in Kya Sands.”

She was wearing a lovely black, pointy, patent-leather pair of stilettos from her range.

I begged Idols judge Mr Nasty, Randall Abrahams, for a heads-up on his favourite of the remaining two contestants. All I got was a blank stare . Not even a smile. Now I know how those youngsters feel singing in front of him. He looked good, though, in his Hollywood-style tux.

If the hat fits

This brings me to the bone I want to pick with my fellow citizens of Mzansi. If you don’t know what “black tie” means, please Google it!

Comedian David Kau should try to work with us on this one. Enough of the trademark hat already, or else find one that fits the occasion.

One who did get it right was Jacinda Louw-Schutte. Remember her as runner-up in South Africa’s 2006 Survivor series? She looked stunning in a long, flowy brown dress matched with a pair of silver spiky Christian Louboutins which her hubby, Altec group manager Hansie Schutte, joked he was still paying for.

Taking cover

The cover man of the launch edition of Forbes Africa is none other than local billionaire Patrice Motsepe, who arrived fashionably late with his beautiful wife, Precious, who was sporting an exquisite gold-stone neckpiece.

The waitress who was appointed to serve the Motsepes spilt sparkling water on the couple. She apologised a billion times – well, nearly – but the two laughed it off.

The MCs were graceful Metro FM presenter Azania Ndoro and musician Ed Jordan. Ndoro looked fabulous in a long, blue gown accessorised with silver. She should have arrived with the editor of Forbes, because his tie matched her stunning dress.

Ndoro bit her tongue several times in introducing arts and culture Director-General Sibusiso Xaba, who was there to welcome the magazine to South Africa on behalf of his boss, Paul Mashatile.

Sid Wahi, son of the co-founder, was the most interesting speaker of the night; quirky and funny. Maybe his good looks also helped.

Loyiso Bala got the crowd onto the black-and-white-tiled dance floor with his cover version of Miriam Makeba’s Pata Pata , just what the doctor ordered.

Food: 8/10 – The delicious cocktail menu included fresh sushi, prepared on site by chef Kelvin Ndlovu, lamb kebabs with a cumin yoghurt dip, Thai green curry, mini harissa fillets mignon with a mustard dip, prawns on sticks, risotto balls with parmesan and wild mushrooms in a tomato fondue, and strawberry cheesecake.

Decor: 8/10 – Understated elegance with white and black pianos, and white round, rectangular and square cocktail tables with silver and black scatter cushions on a few couches.

Venue: 4/10 – I am not a fan of Montecasino as a venue for a formal event. The parking is far away and walking on the cobblestone paving in heels is no joke.

Vibe: 6/10 – Jordan’s performance didn’t do it for me, but the casual seating was enjoyable. The idea that you could be sitting with a billionaire was thrilling. I am sure all the tenderpreneurs had a ball canvassing for tenders. Guests danced the night away until the organisers started packing away the furniture while trying to chase away some drunks who did not want to leave.

ABN Publishing has officially announced the launch of Forbes Africa, with its first edition scheduled to be on shelves in South Africa, Nigeria and Kenya from 1 October. The launch of Forbes Africa  is a derivative of the vision of the Founders of ABN Media Holdings, Zafar Siddiqi and Rakesh Wahi to build a multi-dimensional business media conglomerate in Africa.

Co-founder and publisher, Wahi, said on the occasion, “Our vision is to build Africa’s most comprehensive reservoir of business content and roll it through world class brands. The launch of CNBC Africa in 2007 saw the first part of the venture to cover the broadcast media. The natural progression is to print. There is no better global brand than Forbes and we value our partnership with the brand and the Forbes family. Forbes brings a different and unique perspective to business media reporting and encompasses both, the detail and the personality.”

“The launch of Forbes Africa brings a lot of operating synergies between CNBC Africa and Forbes Africa,” said Gary Alfonso, group managing director, ABN Media Holdings. Other than infrastructure, there are significant economies of scale in editorial and commercial opportunities and we are all excited about the opportunity.

“The launch follows a meticulous planning process which amongst other details reviewed the timing of the launch. The double dip recession has seen a collapse in the print media industry. However, we believe that the markets are beginning to recover and with our focus on business we believe that this is the right time to herald a new venture to take advantage of a market cycle that is on the up,” said Sidharth Wahi, project director.

Forbes is the world’s leading business media brand, reaching more than 4.3-million influential readers via publications in ten languages in more than 100 countries. Forbes Africa is its sixteenth local-language edition with English-language distribution in South Africa, Nigeria, and Kenya.

The magazine will feature editorial content from across the continent, as well as relevant content from its partners in the US. At the helm of this monthly publication is award-winning journalist, Chris Bishop, who takes on the role of managing editor.

Chris Bishop brings a wealth of experience to his role as managing editor and is responsible for its set up, launch and its ongoing operations. He has a detailed understanding of the business and economic news environment from around the continent and understands the broad vision and culture of the media holding company.

Bishop said: “I am very excited about this new and influential voice in Africa. There are truly great business stories in Africa stories and we will be telling them with all of the panache of the strong Forbes brand.”

It will be the continent’s first ever international business publication localised for the African executive.

Lindsey Kin recently attended the official announcement of the launch of Forbes Africa magazine. The media briefing introduced Sid Wahi, the project manager who is spearheading the launch of the brand, and Chris Bishop, the editorial head of Forbes Africa to the media, and revealed a taste of what is to be expected from the world’s leading business media brand moving into Africa.

I recently attended the official announcement of the launch of Forbes Africa magazine, held at the Saxon Hotel in Sandton. The media briefing introduced Sid Wahi, the project manager who is spearheading the launch of the brand, and Chris Bishop, the editorial head of Forbes Africa to the media, and revealed a taste of what is to be expected from the world’s leading business media brand moving into Africa.

Wahi began by explaining that it took over two years to finalise the launch. “The double-dip recession has, to some extent, seen a collapse in the print media industry globally, however, we believe that the markets are beginning to recover, and with our focus on business, we believe this it the right time to launch Forbes into Africa.

“Forbes brings a different and unique perspective to business media reporting,” said Wahi. It is a world-leading business media brand reaching more than 4.3-million influential readers though its publications that are published in ten different languages, in more than 100 countries. With this said, Forbes Africa will be the 16th local language edition to be launched in Nigeria, Kenya and South Africa, with 20 000 copies being distributed on 28 September.

“It is a great day for business journalism in Africa,” said Bishop. Having spent many years travelling through Africa as a journalist, something that struck him was the desire for those from the streets of Namibia to the boardrooms of Nairobi, to move up and make it in the widening avenue of business. He described this as a desire that cuts across borders, class and backgrounds, and believes that throughout Africa, the barriers are coming down, opportunities are opening up and aspirations are growing. Bishop hopes that Forbes Africa will inspire the continent’s business people for generations to come. “We hope it will be a unique business magazine where the risk takers and the dreamers will find an oasis of information that will help them make informed decisions that will enable them to change the business landscape of this continent.”

Bishop concluded that Forbes Africa will be focusing on the entrepreneurial spirit of Forbes in all its glory. “We will be nobody’s cheerleaders … we will be reporting vigorously without fear … this is my vision!”