Malta emerges as a premier investment and relocation destination for South Africans

Staff Writer

Johannesburg City Skyline. Aerial View Of Illuminated Buildings In City At Night. – stock photo Photo taken in Johannesburg, South Africa. Image Courtesy

Malta Invest and Frank Salt are excited to announce that they will be hosting free presentations in Johannesburg, Cape Town and Durban during April 2024.

As the global investment landscape continues to evolve, Malta has emerged as a premier destination for South Africans seeking lucrative investment opportunities. With its stable economy, favourable tax laws and high quality of life, Malta offers a compelling proposition for those looking to diversify their portfolios or secure a residency or retirement option whilst enjoying the benefit of both EU membership as well as being in the heart of the sunny Mediterranean.

South Africans are increasingly turning to Malta for its attractive property market, which presents a range of investment options from residential properties to commercial real estate. The island nation’s strategic location, coupled with its robust legal framework and business-friendly environment, make it an ideal choice for investors looking to expand their international holdings.

Moreover, Malta’s residency and citizenship programmes provide South Africans with a viable “plan B” option, offering a secure and stable environment for individuals and families looking to safeguard their future. The ease of doing business in Malta, combined with its Mediterranean charm and rich cultural heritage, further solidifies its appeal as a top destination for investment and relocation.

Malta, as an EU Member state and part of the Schengen area, offers top-notch healthcare and education systems. With English as an official language and driving on the same side of the road, South Africans find it easy to adapt. Malta’s economy is robust and stable, showing 6.1% GDP growth in 2023. Additionally, the country is known for being a safe and secure place to live.

To learn more about the investment opportunities in Malta and how South Africans can benefit from them, interested parties are invited to attend the one-on-one meetings hosted by Malta Invest and Frank Salt. The meeting will cover a range of topics, including real estate, residency and citizenship options and more, providing attendees with valuable insights.

Frank Salt Real Estate has been operating in Malta since 1969. They offer a one-stop shop assisting with purchasing, renting out and managing you property for you. Malta Invest has been operating since 2015 and has assisted many South Africans with property investment and relocation to Malta.

Dates: Johannesburg, 11 and 12 April; Cape Town, 15 and 16 April; and Durban 17 and 18 April 2024.

Standard Chartered Kenya’s pre-tax profit jumps 15% in 2023

Reuters News

A man walks past the head office of Standard Chartered bank in the City of London February 27, 2015. Eddie Keogh, Reuters Images

Standard Chartered Kenya posted a 15% increase in its pre-tax profit for 2023 to 19.6 billion shillings ($141.31 million), its chief financial officer said on Tuesday, buoyed by higher revenue from loans.

The lender, which is one of the oldest in the East African nation, cut its investments in local government bonds by 8% during the period to 108.5 billion shillings, CFO Chemutai Murgor told an investor briefing.

The funds were then reinvested in loans and advances to customers, she said, which grew by 17%. The higher lending was also helped by a rise in customer deposits.

Net interest income at the bank, which is controlled by Standard Chartered PLC, rose by close to a third, Murgor said, while overall revenue grew by almost a quarter.

SA’s business confidence slips in Q1, survey shows

Johannesburg City Skyline. Aerial View Of Illuminated Buildings In City At Night. – stock photo Photo taken in Johannesburg, South Africa. Image Courtesy: Getty Images Image for illustrative purpose

South Africa’s business confidence slipped in the first quarter of 2024 amid ongoing load shedding, port congestion and inflation, a survey showed on Wednesday, 6 March 2024.
The business confidence index fell to 30 points in the first quarter from 31 points in the previous three months, according to a survey by the Rand Merchant Bank (RMB) and compiled by the Bureau for Economic Research.

“The same supply constraints, including load shedding, logistical challenges, and heightened global and domestic policy uncertainty, keep South African businesses in a stranglehold,” said Isaah Mhlanga, chief economist and head of research at RMB.

Retail confidence fell by 13 points quarter-on-quarter to 34 points, weighed down by poor demand for consumer durable goods and an overall fall in retailers’ profitability.

The country’s manufacturing sector was dragged down by weaker domestic and export demand, according to the survey. Manufacturing confidence fell by five points to 21 points.

“Worryingly, respondents turned even more downbeat about investment and business conditions going forward,” it said.

On the other hand, builders, wholesalers and car dealers remained upbeat as contractor activity improved and demand for consumer goods rose.

Meanwhile, South Africa’s private sector activity expanded in February for the first time in six months as staffing and purchasing levels increased amid stronger confidence, an S&P Global South Africa Purchasing Managers’ survey showed on Tuesday.

“Looking further ahead, the expectation of moderating inflation… and possibly lower borrowing costs due to an expected shallow cutting cycle of the policy interest rate may help with local consumer demand in the second-half of the year,” RMB’s Mhlanga said.

South Africa’s FDI inflows slow in third quarter – central bank


FILE PHOTO: A picture of the South African Reserve Bank.

South Africa recorded reduced foreign direct investment inflows of 26 billion rand ($1.40 billion) in the third quarter of 2023, from 53.8 billion rand in the second quarter, central bank data showed on Thursday.

The South African Reserve Bank said in its Quarterly Bulletin that the inflows were due to non-resident parent entities granting loans and increasing their equity stakes in domestic subsidiaries over the period.

Portfolio investments showed a larger outflow of 41.9 billion rand in the third quarter compared to outflows of 4.6 billion in the second quarter of 2023.

The central bank added that this was due to a public entity redeeming a $1 billion international bond.

In October, the World Bank announced a $1 billion loan to South Africa to help tackle the ongoing power crisis.

Africa’s most industrialised nation has had the worst power outages on record this year, with rolling blackouts leaving households and businesses without power for up to 10 hours a day.

Congo reaffirms commitment to OPEC, oil minister says


FILE PHOTO: OPEC logo is seen in this illustration taken, October 8, 2023. REUTERS/Dado Ruvic/Illustration/File Photo/File Photo Acquire Licensing Rights

Congo on Saturday reaffirmed its commitment to the Organization of the Petroleum Exporting Countries (OPEC), days after neighbor Angola decided to leave the organization.

“The Republic of Congo reaffirms its steadfast commitment to the strategic policy defined by the Secretary-General of OPEC and OPEC+,” Congo’s hydrocarbons minister Bruno Jean-Richard Itoua said in a LinkedIn post.

“Congo is committed to continuing close and constructive collaboration with all member countries.”

The development comes after Nigeria on Friday reaffirmed its commitment to OPEC, with minister of state for petroleum Heineken Lokpobiri saying that his country’s position remained unwavering.

Congo, which became a full member of OPEC in 2018, has been set a target of 277,000 barrels per day (bpd) for 2024 by the Saudi-led oil producer group.

Nigeria, which is Africa’s biggest oil producer, and Angola were among several countries given lower output targets for 2024 after years of failing to meet previous ones.

Angola’s Oil Minister Diamantino Azevedo said on Thursday that OPEC no longer served the country’s interests. It joins other mid-sized producers Ecuador and Qatar that have left the organization in the last decade.

TotalEnergies to restart its delayed Mozambique LNG project in early 2024 -sources


The logo of French oil and gas company TotalEnergies is seen at the company’s headquarters skyscraper in the financial and business district of La Defense, near Paris, France September 14, 2023. REUTERS/Gonzalo Fuentes Acquire Licensing Rights

CAPE TOWN, Dec 22 (Reuters) – French energy firm TotalEnergies (TTEF.PA) plans to restart its long-delayed $20 billion Mozambique liquefied natural gas (LNG) project in the first quarter of next year, two sources told Reuters late on Friday.

Work on the project has been halted since 2021 when a violent insurgency led by Islamic State-linked militants threatened the Cabo Delgado site, leading to TotalEnergies declaring force majeure and halting construction.

In September, chief executive officer at TotalEnergies, Patrick Pouyanne, said the company planned to restart before the end of this year, as the security situation improved with the support a regional military force including Rwanda.

“TotalEnergies have indicated that they want to restart their Mozambique LNG project in January 2024,” a government source close to the process said, asking to remain anonymous due to the sensitivity of the matter.

The ongoing violence in the northern Mozambican province has claimed thousands of lives since it broke out in 2017, disrupting multibillion-dollar investments including the $20 billion LNG project in which TotalEnergies has a 26.5% stake.

“TotalEnergies has asked funders to get approval for the restart of the Mozambique LNG project in the first quarter of 2024,” said a second funding source with direct knowledge of the project.

The project, which will help transform the economic fortunes of the impoverished southern African country, has faced criticism from environmental activists who last month urged funders to withdraw their financial support.

TotalEnergies did not immediately respond to an out-of-office request for comment.

How Africa is becoming a global business giant

Africa Business

Image used for illustrative purpose. Getty Images

If you ask people around the world which countries and continents are global leaders in business, most likely you’ll hear the United States, China, and European countries come up. However, a shift appears to be happening: Africa is starting to emerge as a real player in world commerce.

Because of its natural resources, younger population, and growing middle class, Africa is becoming an attractive option for investors and corporations. This article will explore some of the ways Africa is raising its profile in global business.

From hosting more summits and conferences to entrepreneurship and innovation, foreign direct investment, and regional integration, Africa is demonstrating a potential to drive economic growth and shape the future of the global economy.

Access to Worldwide Conferences/Meetings

Nobody will claim that Covid-19 was good for the planet. However, as happened during other unfortunate events in history, people learned to innovate and adapt, and managed to achieve progress nonetheless.

An example is the amount of medicine and technological advances that occurred during World War II. Nobody will ever say that war was a high point in world history. However, without it, we might not have discovered penicillin or sulfa drugs for many years thereafter.

The same might be said about Covid-19 and virtual meetings. Although Zoom and other video platforms existed well before the pandemic, when people had no option but to meet online it finally became mainstream.

Yes, this probably would have transpired eventually, but the pandemic definitely sped up the potential for international meetings to occur without having to meet in person.

Historically, Africa as a continent has not played a substantial role in national and international business gatherings. Now that many meetings and conferences are conducted virtually, access for African businesses to attend and host has never been more practical.

Many of the other advances discussed below may directly correlate with virtual meetings that have made connections so much easier.

Entrepreneurship and Innovation

Entrepreneurs are thriving in Africa. Many individuals have started businesses there. This entrepreneurial spirit has driven innovation across many fields, including technology, agriculture, healthcare, and renewable energy.

As a result, Africa is witnessing the emergence of successful startups and homegrown proposals that are not only solving local challenges but attracting attention on the global stage.

Foreign Direct Investment

Foreign direct investment (FDI) in Africa has risen in recent years. African nations attract significant FDI inflows worldwide with their natural resources, which has expanded consumer markets and improved business environments. In 2021, Africa saw $83 billion in FDI.

National and local governments are bringing in policies to encourage FDI and create a business climate by offering incentives and tax breaks. As the continent continues to attract foreign investors, it will strengthen its position in the global business arena, fostering economic growth and promoting sustainable development.

Regional Integration

Regional integration is playing a pivotal role in Africa’s involvement in commerce. African countries increasingly recognize the benefits of working together and fostering intra-African trade.

Initiatives such as the African Continental Free Trade Area (AfCFTA) aim to create a single broad market, promote the free movement of goods and services, and facilitate cross-border investments.

Africa is unlocking new business opportunities to expand individual countries’ operations across borders by eliminating trade barriers, harmonizing regulations, and enhancing regional infrastructure. One example of this is the number of ports on the western coastline of Northern Africa.

Historically, local and national economies struggled to maintain and run effective ports, but these are flourishing now that adjacent nations are contributing.

Infrastructure Development

Investments in infrastructure development are also transforming Africa’s business landscape. Governments and international partners are investing in transportation networks, energy projects, digital connectivity, and industrial zones.

Improved infrastructure facilitates the movement of goods and people, reduces transportation costs, and enhances overall business efficiency. Infrastructure development also creates employment opportunities, stimulates economic activities, and attracts domestic and foreign investments.

Projects such as ports, airports, railways, and power-generation facilities are crucial for Africa’s integration into global supply chains and its ability to attract multinational corporate partners. Cairo has seen a 23% increase in airline passenger traffic since 2019, and many other countries have begun to welcome more international travel.


Business across the planet is rapidly evolving. The traditional powerhouse nations will continue to dominate business, but other markets can take a seat at the table.

Africa is already showing it is ready to take advantage of the opportunity. The question becomes: How far can they go?

AFDB, FED sign $20mln Trade Finance agreement to support SMEs in Nigeria

Nigerian Tribune

Image used for illustrative purpose. Getty Images

The African Development Bank (AfDB) has signed a $20 million Trade Finance Facility Agreement with FSDH Merchant Bank, to support small- and medium-sized businesses in Nigeria’s industrial and manufacturing sectors.

The facility consists of a $15 million Trade Finance Line of Credit to support SMEs and indigenous corporates and a $5 million Transaction Guarantee to support the confirmation of FSDH’s trade finance transactions.

Similarly, Ecobank Transnational Incorporated (ETI) has also inked a deal that will avail $200 million in sustainability-linked loan to the lender, with a group of five European Development Institutions namely Proparco, Norfund, FMO, DEG and EFP.

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For the $20 million facility availed to FSDH, the African Development Bank will guarantee up to 100percent of non-payment risks from letters of credit and similar trade finance instruments issued by FSDH under the Transaction Guarantee for the benefit of local import and export businesses.

It is estimated that over the next three years, the facility will catalyze more than $200 million of trade finance transactions across several sectors, including agriculture, manufacturing, and energy.

Signing the agreement, Lamin Barrow, African Development Bank’s Director General, Nigeria Country Department, said the arrangement was a testament to the Bank Group’s commitment to help plug Nigeria’s trade finance gap by working with strategic partners like FSDH to provide critical support to SMEs.

Barrow said: “Lack of sufficient correspondent banking lines of credit and inadequate access to foreign exchange have been identified as some of the major reasons banks in Nigeria do not finance trade finance requests from their clients. That is why the African Development Bank established a dedicated Trade Finance Program in 2013 to provide critical liquidity and risk mitigation support to financial institutions in Africa for the benefit of SME and local corporate importers and exporters.”

He said over the last decade, the Bank Group has supported more than 120 financial institutions in 30 African countries and catalyzed over $10 billion of trade.

FSDH Managing Director/CEO Bukola Smith, who signed for her side, thanked the Bank for providing the facility. She said women-owned businesses would be given priority when funds are disbursed.

She added: “We have been looking forward to receiving this financing. Just like we did with the first facility we received from the African Development Bank, we promise that this one will be well utilized because it will help us grow our business and meet the needs of our clients, including women-owned enterprises.”

The African Development Bank extended a $50 million Trade Finance Line of Credit to FSDH in 2016, which supported 60 beneficiaries for over 370 trade transactions valued at $375 million in terms of volume traded in critical sectors, including energy, agri-business and health, and boosted intra-African trade.

The Bank estimates Africa’s annual trade finance at $81 billion, and the World Trade Organization and IFC estimate the annual gap in Nigeria at $7 billion. SMEs and other domestic firms are grappling with a lack of access to trade finance.

The African Development Bank’s active portfolio in Nigeria comprises 48 operations valued at $4.4 billion. It covers 24 public sector projects amounting to $2.5 billion and 24 private sector operations valued at $1.9 billion.

Furthermore, the ETI credit, said to be the first of its kind to a sub-Saharan African financial institution, is to back Ecobank Group’s sustainability and climate strategy and also includes a climate action plan.

The duo of Proparco, which also is the lead arranger of the facility, and the German consulting firm IPC will offer advisory support to ETI’s teams to actualise the targets, according to a statement by ETI.

“Over the years, Proparco and Ecobank Group have continuously reinforced their partnership through Proparco’s provision of numerous loans, bond subscriptions and risk-sharing facilities including for trade finance to ETI and its subsidiaries, aimed at providing access to finance for underserved segments,” the document stated.

A similar move in June 2021 saw ETI raise Tier 2 sustainability notes valued at $350 million, with June 2031 set as the maturity date of the bond.

ETI said its commitment to tackle the sustainability challenges faced by the organisation involves crafting a climate disclosure report to provide information on its green lending, vulnerability to physical climate risks as well and its exposure to carbon-intensive sectors.

That also entails developing a climate strategy that incorporates sustainable finance targets, first-sector decarbonisation strategies for the most carbon-intensive sectors, an exclusion policy covering thermal coal mines and coal-fired plants and GHG emissions reduction targets for operational and financed emissions.

“Sustainability is integral to Ecobank’s mandate and pan-African purpose,” said Jeremy Awori, chief executive officer of the Ecobank Group.

“The signature of this sustainability-linked loan agreement is another confirmation of the seriousness which the Ecobank Group accords to sustainability, which for us is both a responsibility as well as an opportunity.”

Funding gaps in micro, small and large businesses in Nigeria

Nigerian Tribune

Funding. Image used for illustrative purpose. Getty Images

IN Africa, apart from the known business challenges such as the decrepit infrastructure, inconsistent government policies, double taxation, increasing inflation, regulation irregularities and the COVID-19 pandemic consequences in recent times, overwhelmingly, the lack of capital or funding issues contribute mainly to business failures. According to the findings of several surveys, one of the top challenges faced by entrepreneurs and businesses in Africa today is access to funding. Without doubt, funding is the bloodline of any form of business. Therefore, whether it is a startup, nano, micro, small or medium-sized business, or an established large firm, knowing how to raise capital can often make the difference between business success and failure. In fact, funding is important at all business stages and cash which is most time refer to as “capital” in business terms mainly dictates the pace of performance in any business. Invariably, without funding or capital, it will be extremely difficult to get any enterprise off the ground. However, the structure that exists in the business significantly affects the access to the choice of fund options.

Every business has a different structure and needs. It is, therefore, imperative to state that no financial solution is one size fits all: funding options usually require different rules and steps. Consequently, businesses will be required to carefully plan, research, learn and understand the necessary funding option in order to come up with the right decision. So, the big question for businesses is, what are the ways to adequately raise capital for seamless operations? And this is the focus of this piece. Capital comes into any business particularly in two ways: as equity or as debt. However, donations, grants, incentives, interventions, or subsidies can also be employed in certain aspects of a business to encourage activities in particular industries or sectors by government. Just like other forms of capital raising options, these grants and subsidies can be initiated for either short-term or long-term purposes. That said, equity capital involves exchanging a portion of the ownership of the business for financial investment in the business, most times it involves selling shares of the company in exchange for funding.

The ownership stake resulting from this equity investment allows the investor to share in the company’s profits. Equity capital is usually a cheap form of funding and is an important source of capital on a long-term basis. However, sometimes, it involves going public, getting listed on an Exchange, and also giving up partial or major control of the business. On the other hand, debt capital is when a business borrows fund from individuals or institutions and agrees to pay them back later. Debt capital simply means loans and borrowings. The main consideration in debt capital is the ability of the business to generate sufficient returns to service the debt (interest and capital repayment). A typical mode of raising debt capital is through bank loans. Banking institutions provide loans to individuals or businesses who approach them with a solid business plan, and good business structure with capacity for repayment. Bond is equally a debt instrument, and a way of raising debt capital as well. Without doubts, it belongs to debt capital categorisation because the authorised issuer (business) owes the bondholder debt and it depends on the terms of the bond issuance.

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The most significant difference between equity and debt is that, unlike debt, equity capital does not require an amortization schedule for repayment. More so equity capital involves the investor taking an ownership position in the business. Significantly, there are several sources to consider when seeking business funding or any financing, some of it are expressed here. The easiest and starting point for small businesses from context observation is usually with self-funding and personal investment, where entrepreneurs leverage their financial resources to support business operations. Self-funding can extend to family, associates and friends for capital, otherwise referred to as bootstrapping. Both self-funding and bootstrapping lets business managers, operators, and entrepreneurs leverage their financial resources to support the business operations. Further to this is angel investment, where investors who are generally wealthy individuals or retired business executives invest directly in a business or startups owned by others. These angel investors are often leaders in their field who not only contribute their experience and network of contacts but also their technical and/or management knowledge. Most times this form of capital raising is in exchange for equity ownership in the business and an active management role.

Also, trade credit is another significant form of capital raising option where business suppliers are willing to transact or sell on credit. Such credit may range anywhere from one month to three months or as agreed. This is a very good method for businesses to fulfill short-term funding needs. It is an inexpensive method of funding for any business, I must say. Further to this is private equity investment, where private equity firms raise equity capital that is not listed on any Stock Exchange for investment purposes. Invariably, these firms raise funds from investors and then invest these funds in promising startups and businesses that require capital. The drawback of thisfunding option is that a controlling position or substantial minority position in the business is usually acquired and then look to maximize the value of their investment. Thus, the entrepreneur might not have sole control over the business decisions, which may lead to conflict.

Looking at another capital raising option is retained earnings as a way of raising finance, it simply means businesses can reinvest any set-aside profits for business operations for expansion, equipment purchase, and development purposes.

The key information from this piece is that there are many business funding options available for businesses. Therefore, business owners, managers and entrepreneurs do not have to get discouraged if one does not work out, other options can easily be explored. To find the right fit, in-depth research and adequate due diligence are imperative, having in mind these following questions-how much is really required for the business? When is it required? How long will it take to raise the funds? What are the specific requirements to access the fund? What will the fund be used for? What are the associated risk with the fund type? From whom is best to raise the fund? How expensive is the fund? How and when is repayment? Is the business actually fundable or bankable? Because some fund option may be a perfect fit for a business situation, while others may be completely impractical, therefore due diligence is absolutely required.

Aside from every business having unique funding needs, each funding option also differ in availability, terms, funding amount option, and eligibility criteria. Therefore, each fund option needs detailed attention ahead of time.Whether a business opts for a bank loan, an angel investment, or a government grant,note that each of these sources of financing has specific advantages and disadvantages. Good luck!

Dr. Olubiyi is an entrepreneurship and business management expert

A game plan to ignite entrepreneurship in Africa

A beautiful Landscape of Benin city, Edo state, Nigeria, west Africa. Getty Images Image used for illustrative purpose.

Entrepreneurship is a key driving force behind boosting economies in Africa and after the onset of the global Covid-19 pandemic, the world saw a rise in entrepreneurship as a means to cope with these unpredicted global shifts.

Global Entrepreneurship Week took place from 13 November – 17 November 2023 and coincided with the annual Allan Gray Orbis Foundation’s Ignite Africa conference that took place over two days 16 and 17 November 2023.

“It’s a Pan-African initiative, intricately aligned with Global Entrepreneurship Week. Ignite Africa is a platform dedicated to advocacy, thought leadership, and cross-sector collaboration, all aimed at advancing entrepreneurship education and development across the African continent,” said Dr Nontobeko Mabizela, CEO at the Allan Gray Orbis Foundation during her opening address.

According to the Quarterly Labour Force Survey, South Africa is experiencing an unemployment rate of 31,9%. By encouraging young minds to think critically, share their innovative ideas, and engage in forward-thinking, the entrepreneurial mindset will be instilled within many individuals and will create a new wave of entrepreneurship within the country.

Jonathan Ortmans, founder of the Global Entrepreneurship Network (GEN) was one of the keynote speakers on Day 2 at this year’s Ignite Africa conference in Sandton focused on Igniting Resilient Ecosystems under the theme of #TheSumOfUs.

Ortmans spoke about empowering the next generation of global entrepreneurs by unleashing Africa’s potential. In order to democratise entrepreneurship education and to ensure inclusivity, regardless of the socio-economic status of the entrepreneurs, it will require all stakeholders to work together.

To succeed, Ortmans presented a gameplan wherein he identified a few key ideas for igniting the entrepreneurship ecosystem in South Africa:

Invest in entrepreneurship education

Ortmans said that we cannot sit around and be idle when it comes to educating future entrepreneurs, we need to make a change. This change begins in our schools, with young minds. The earlier these young minds foster an entrepreneurial mindset, the better.

Entrepreneurial learning must be practical. It needs to go beyond the classroom and should allow entrepreneurs to connect with society’s cultures, markets, and professional sectors.

By encouraging young people to think critically and creatively, we are enabling them with skills that they will use for the rest of their lives. They need to be encouraged to not be afraid to fail, and to look at ideas as experiments in order to find out what will work and what won’t.

Encourage Inclusivity

Ortmans reiterates that “economies suffer when any individual is excluded”. It does not make logical sense to exclude anyone from the conversation. That’s also why the Allan Gray Orbis Foundation Africa Ignite Committee chose #TheSumOfUs as the theme for this year’s event.

“Transformative ideas are lost when people lack the opportunity to commercialise them,” said Ortmans. Only by fostering inclusivity and focusing on underrepresented groups can we truly find a way forward.

Engage in healthier entrepreneurial ecosystems

Entrepreneurs are not waiting for permission to start creating. They rely on an environment where they can create freely without restrictions. As a society, we need to encourage organic growth and allow entrepreneurs to continue creating without a preconceived blueprint.

Ortmans reiterates how entrepreneurs need to be empowered with resources for access to markets and investments to grow.

Global connectedness plays an important part in this as it encourages the idea that connecting with other forward-thinkers allows for creative influence. Once you are influenced by your neighbours, you have access to the interface of other ecosystems in a global environment. This creates a better atmosphere, that is more empathetic and encourages failure by means of learning.

By implementing this gameplan, the entrepreneurial ecosystem will foster an inclusive environment that stimulate growth for generations to come. It is clear that South Africa is abuzz with entrepreneurial talent and by coming together to empower the South African youth, the entrepreneurial ecosystem is unlocking the real power of #TheSumOfUs.

From an Allan Gray Orbis Foundation perspective, we look forward to analysing the Global Entrepreneurship Week Report in 2024 and showcasing some of the successes fostered by this year’s Ignite Africa event. #GEW23