Spotlight Ethio Magazine Issue 11 : simplebooklet.com

SPOTLIGHTETHIO.COMDECEMBER 2024CONTENTHOTEL PICKSDINING PICKSMOOVE: AFRICA’SVEHICLE FINANCINGSTARTUPAFRICA’SDEMOGRAPHICTRANSFORMATIONOUTSIDE THE BOX:JOSEPH OGWALFEATURE STORY:DR. AISHA PANDORETHIOPIA’SSWEEPING REFORMSTRUE MORINGA:BUILDING A MORINGATREE SUPPLY CHAINAFRICAN RANKINGSFOR INNOVATIONAROUND AFRICADIAMOND CLASSCONTACTpg. 03pg. 04pg. 05pg. 06pg. 07pg. 11pg. 08pg. 09pg. 10pg. 12pg. 13pg. 17pg. 18pg. 19pg. 20pg. 21Our selection of Top 5 Leadersand the results they producedwithin their business ventures.A selection of four trailblazersacross the African continent.Our selection of Top 5entrepreneurs on the horizon intheir respective fields.02INSIDEVOLUME 1 ISSUE 11See how this company is bringingaccessible vehicle ownership toAfrica.INNOVATIVEFINANCING FORNATURECONSERVATIONThese African countries recollaborating on what couldbecome the world's first joint"debt-for-nature" swap, withplans to raise $2 billion.Africa is undergoing a profounddemographic transformation thatholds the potential to reshape theglobal landscape. This Harvard-MIT-spin-out isbuilding Ghana’s first verticallyintegrated moringa supply chain.See how African countriescompare globally on the latestinnovation rankings.Ethiopia launched majormacroeconomic reforms,signaling a significant shift in thecountry’s economic policy. BUSINESS LEADERSACHIEVERSEVENTS TO WATCH

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STARTUP STORYMoove, a Nigerian mobility fintech startupfounded in 2019 by Ladi Delano and JideOdunsi, is redefining vehicle financing forAfrican entrepreneurs. By partnering with ride-hailing platforms likeUber, Moove offers revenue-based financing thatenables drivers to own vehicles through aflexible repayment model tied to a percentage oftheir weekly earnings. This game-changingapproach eliminates the need for upfront capitalor collateral, empowering thousands of driversand transforming Africa's mobility landscape.Since its launch, Moove has rapidly expandedinto markets across Nigeria, Ghana, and Kenya,with plans to scale into other emergingeconomies. Backed by over $200 million infunding from global investors, the company’sinnovative model has not only created jobs anddriven financial inclusion but also demonstratedthe power of accessible vehicle ownership inempowering Africa’s entrepreneurial workforce.To further its impact, Moove is activelyexploring electric vehicle (EV) financing optionsto promote sustainable mobility solutions acrossits markets.More than just a financing solution, Moove is acatalyst for change in the African mobility andfintech sectors, addressing critical challengeswhile fueling economic growth. By leveragingtechnology and finance to provide scalablesolutions, Moove is paving the way forsustainable development in Africa’s mobilityindustry and setting a standard for innovation inemerging markets.MOOVE: AFRICA’S VEHICLEFINANCING STARTUP SPOTLIGHTETHIO.COM 03DECEMBER 2024

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GROWTH OPPORTUNITYINNOVATIVE FINANCINGFOR NATURECONSERVATION SPOTLIGHTETHIO.COMIn a landmark move, at least five African nationsare collaborating on what could become theworld's first joint "debt-for-nature" swap, aiming toraise over $2 billion to protect coral-rich regions ofthe Indian Ocean. Debt-for-nature swaps—where aportion of a country's foreign debt is forgiven inexchange for investments in environmentalconservation—are gaining traction amongbiodiversity-rich but indebted nations as a meansto reduce external debt while funding sustainabilityprojects.Backed by a global coalition of natureconservation organizations, including theInternational Union for Conservation of Nature(IUCN), this initiative plans to combine $500million in concessional financing with $1.5 billionfrom bond exchanges. A finalized blueprint of thedeal is expected by June 2025. Negotiations areunderway with major multilateral developmentbanks in the region to provide credit guaranteesand insurance for the swap. Key details, such asthe distribution of funds, the proportion of debtinvolved, and mechanisms for monitoringconservation efforts, remain under discussion.In 2023, Gabon became the first African nation tolaunch such a swap, securing up to $450 million,following similar successes in countries likeSeychelles, Belize, Ecuador, and Barbados. Thisnew African initiative, however, would be the firstto involve multiple nations collectively addressinga shared ecosystem. While the specific countries in this joint effortremain unnamed, several African coastal andisland nations—such as Kenya, Madagascar,Mauritius, Mozambique, Seychelles, Somalia,South Africa, Tanzania, and the Comoros—arealready participating in the "Great Blue Wall"project, launched in 2021 to restore 2 millionhectares of ocean ecosystems by 2030. If theproposed joint "debt-for-nature" swap issuccessful, this could redefine regionalcollaboration for debt relief and environmentalconservation in Africa. 04DECEMBER 2024

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06Africa is undergoing a profound demographictransformation that holds the potential to reshape theglobal landscape. As of April, India surpassed China as the world’smost populous country, but it is Africa’s rapidpopulation growth that demands attention. Once hometo just 140 million people in 1900, Africa’spopulation has grown tenfold to over 1.4 billiontoday, making up a significant portion of the globalpopulation. This explosive growth, driven bydecreasing mortality rates and high birth rates, hasdoubled Africa’s share of the world’s population, andthis trend shows no signs of slowing down.By 2050, the United Nations projects that Africa’spopulation will soar to nearly 2.5 billion, meaningmore than a quarter of the world’s people will beAfrican. Even as population growth begins todecelerate in the latter half of the century, Africa willremain the largest contributor to global populationgrowth, with its share expected to reach close to 40percent by 2100. This demographic shift is not merelya numbers game; it has the potential to drivesignificant economic changes, positioning Africa as akey player on the global stage.The implications of this population boom are far-reaching. Five of the eight countries projected toaccount for more than half of the global populationincrease over the next three decades are in Africa.This surge in the working-age population across thecontinent could unlock a demographic dividend,leading to accelerated economic growth and increasedgeopolitical influence. As a result, African nationsmay emerge as new world powers, fundamentallyaltering the world order as we know it.AFRICA’S DEMOGRAPHICTRANSFORMATION TOCHANGE THE WORLD SPOTLIGHTETHIO.COMECONOMIC UPDATE DECEMBER 2024

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DINING & ENTERTAINMENT07Botanica X MercadoBotanica Nior RestaurantSlate | Kitchen & BarNgwerere Rd Bonanza Estate Ciêla Resort & Spa, Lusaka, ZambiaThis restaurant offers an Afro-French modern fusion withextraordinary Zambian flair, creating a sensory diningexperience with elegant ambiance, cozy charm, andimpeccable service for unforgettable moments. 87th Floor, One Africa Place, Off Waiyaki Way, Westlands, KenyaBotanica x Mercado combines botanical elegance withbold Mexican flavors, offering a vibrant dining experienceof authentic dishes, creative flair, and a lush, calmingatmosphere for an unforgettable culinary adventure. 4a Akin Olugbade Street, Victoria Island, Lagos, NigeriaNoir Lagos offers a unique French-inspired culinaryexperience, blending fine dining with a warm ambiance,complemented by a VIP lounge, café, and outdoor terrace,transporting guests to a Parisian escape in the heart of Lagos.DINING PICKS SPOTLIGHTETHIO.COMGround floor, Skynet Residences by City Blue, Westlands, KenyaSlate combines modern sophistication with a relaxed urbanvibe, offering a curated menu of creative internationaldishes, expertly crafted cocktails, and an elegant yetwelcoming atmosphere for any occasion. DECEMBER 2024

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STARTUP STORYaccolades from Forbes, Harvard BusinessReview, and The Economist. Recognizing thebarriers farmers face—such as lack of access tocommercial-scale processing equipment—thecompany provides training, tools, and marketaccess, enabling farmers to tap into the boomingglobal demand for moringa oil in the cosmeticsindustry. True Moringa is more than a business;it’s a movement transforming lives andlandscapes while unlocking the untappedpotential of moringa for a sustainable future.TRUE MORINGA:BUILDING A MORINGATREE SUPPLY CHAIN SPOTLIGHTETHIO.COM 08True Moringa, founded in 2013 by KwamiWilliams and Emily Cunningham, is an MIT-Harvard spin-out revolutionizing agriculture inGhana through the moringa tree, often called "themiracle tree" or "the never-die tree." By buildingGhana’s first fully vertically integrated moringasupply chain, the startup produces nutritioussnacks and beverages under its Minga Foods brandand award-winning beauty products under the TrueMoringa brand, distributed across North America.With two state-of-the-art processing facilities inGhana, True Moringa employs proprietarytechnologies to transform moringa seeds into oilsand leaves into powders, ensuring local valueaddition. By sourcing raw materials from over5,000 smallholder farmers at fair prices, thecompany uplifts rural communities, creating jobsand empowering farmers, many of whom haveseen their incomes increase tenfold. Their missionis clear: to move farmers from poverty toprosperity.True Moringa’s impact extends far and wide, withover 3 million moringa trees planted andDECEMBER 2024

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09In the latest Global Innovation Index (GII)rankings, Sub-Saharan Africa (SSA) showcases ablend of progress and challenges, with severalnations advancing in global innovation standings.Mauritius leads the region at 55th place, followedby South Africa (69th), Botswana (87th), CaboVerde (90th), and Senegal (92nd). Kenya (96th)made the most significant leap, moving up fourplaces and solidifying its position in the top 100.A total of eight out of the 27 SSA economiescovered in the GII improved their rankings in thelatest report. Cabo Verde and Senegal, forinstance, have established firmer footholds withinthe top 100. While Kenya’s rise is impressive,several other large economies, including SouthAfrica, Nigeria (113th), and Ethiopia (130th), haveslipped in the rankings, reflecting the challengesthey face in maintaining growth momentum. TheSSA region, like Latin America, has also seen adrop in venture capital investments in 2024,signaling a return to pre-pandemic levels amidglobal economic pressures.Despite these challenges, SSA is rich in untappedpotential for innovation. Countries like Rwanda,Madagascar, and Uganda are recognized for theirinnovative performance relative to their economiclevels. Meanwhile, Egypt, South Africa, andMorocco emerge as key science and technologyhubs, making substantial contributions to regionalresearch and innovation, though they still lag inpatent filings.African nations are increasingly seen as fertileground for social enterprises addressing criticalissues like energy access, healthcare, andeducation—solutions driven by both marketdemands and societal challenges. To sustain thismomentum, African innovation ecosystems requirestrategic policy reforms, particularly to improveaccess to finance, bolster infrastructure, and fosterinternational collaboration. These steps will beessential in attracting more investment andensuring long-term growth for the region’sexpanding innovation landscape.HOW AFRICAN COUNTRIESCOMPARE GLOBALLY ONINNOVATION SPOTLIGHTETHIO.COMECONOMIC UPDATE DECEMBER 2024

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GROWTH OPPORTUNITY SPOTLIGHTETHIO.COM10On July 29, 2024, Ethiopia launched agroundbreaking macroeconomic reform, marking amajor pivot in its economic policy. Central to thisreform is the adoption of a floating exchange ratesystem and the strategic use of interest rates tostabilize the economy. These measures aim toaddress long-standing inefficiencies and unlocknew growth opportunities.A key move by the National Bank of Ethiopia(NBE) is the alignment of the official and parallelexchange rates, a long-time source of marketdistortions. Within weeks of transitioning to amarket-based exchange rate, the gap betweenofficial and black market rates narrowed sharplyfrom over 100% to just 4%, though this shift camewith a significant depreciation of the birr.The reforms also introduce sweeping changes toenhance foreign exchange flexibility andcompetitiveness. Exporters can now retain 50% oftheir foreign exchange earnings, while restrictionson 38 product categories have been lifted, and non-bank entities are allowed to conduct foreigncurrency transactions. Special Economic Zones(SEZs) receive a boost with 100% retention offoreign exchange proceeds, simplified foreigncurrency account rules, and the opening ofEthiopia's securities market to foreign investors.Backed by a $10.7 billion financial package frominternational partners, including the IMF andWorld Bank, these reforms aim to modernizeEthiopia’s economic landscape.As part of the reform agenda, Ethiopia is set tolaunch its first stock market, the EthiopianSecurities Exchange (ESX), by late 2024 or early2025. The ESX will debut with the IPO of EthioTelecom and state-owned giants like the EthiopianShipping and Logistics Services Enterprise(ESLSE) and the Ethiopian Insurance Corporation.With an initial capital of 1.6 billion birr ($13million) and more than 90 companies expected tolist, the ESX promises to be a game-changer forEthiopia’s financial sector.While these bold reforms are expected to spureconomic growth, they come with challenges.Economists warn of potential inflationarypressures, particularly on import costs and livingexpenses, which could impact vulnerablepopulations. Policymakers face the critical task ofbalancing these risks to ensure the reforms deliversustainable and inclusive growth, positioningEthiopia as a rising economic powerhouse in theregion.DIVING INTOETHIOPIA’S SWEEPINGECONOMIC REFORMSDECEMBER 2024

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OUTSIDE THE BOXAgricultural transformation is the cornerstone ofAfrica's economic growth, food security, andpoverty reduction, with over 60% of thecontinent’s workforce relying on it for theirlivelihoods. Yet, smallholder farmers, who are thebackbone of this vital sector, face persistentchallenges, from limited access to quality inputsand financing to the growing threats of climatechange. Agro Supply, a Ugandan-based socialenterprise founded in 2017 by Joseph Ogwal, istackling these issues head-on. By offeringinnovative solutions and climate-resilientagricultural inputs, Agro Supply empowers ruralfarmers to scale their operations and adapt to anuncertain future, driving not just individual successbut systemic change in Africa's agriculturallandscape.Innovating with the Layaway ModelAgro Supply's groundbreaking "Layaway Model"is transforming how smallholder farmers accessessential resources. Recognizing the financialbarriers these farmers face in purchasing qualityseeds and fertilizers, the company enablesincremental saving through mobile money. Thismicro-saving system, facilitated by scratch cards,aligns with farmers' financial realities, allowingthem to bypass traditional credit systems that oftencome with crippling interest rates. This model has empowered thousands of farmers to access theinputs needed to boost productivity and secure theirlivelihoods.The Visionary Behind the RevolutionJoseph Ogwal, Agro Supply's founder and CEO,has dedicated his career to transforming Uganda’sagricultural economy. Growing up in a farmingcommunity, Joseph gained firsthand experiencewith the challenges faced by smallholder farmers.His work with organizations like FAPAD, USAID'sFeed the Future project, and the World FoodProgram exposed him to the systemic issues inagricultural financing and crop resilience. Theseexperiences inspired him to create Agro Supply,addressing the gaps in climate-resilient inputs andrepayment systems that hinder farmers' success.Agro Supply’s diverse team of software engineers,agronomists, and data scientists shares a unifiedmission: improving the livelihoods of ruralpopulations through mobile innovation andsustainable agricultural practices.Scaling Impact - Reaching More Farmers The impact of Agro Supply’s initiatives isremarkable. With over 140 village agents, thecompany has onboarded more than 21,000 farmers—48% of whom are women. This network hasdriven a 100% increase in farm production, raisingincomes by an average of $500 per acre. Byworking closely with farmers to enhanceproductivity, Agro Supply is contributingsignificantly to food security and economic growth.Strategic partnerships amplify Agro Supply'simpact. Collaborations with SeedCo and Advantaprovide farmers with high-quality drought-resistantseeds and inputs at discounted prices. Beyondsupplying inputs, Agro Supply trains farmers inmodern techniques and delivers personalizedplanting recommendations, both through on-farmsessions led by village agents and via SMSmessages. These efforts not only increase yields butalso promote the adoption of climate-resilientcrops, creating a more secure agricultural future.Agro Supply exemplifies the transformative powerof innovation in addressing Africa’s agriculturalchallenges. By equipping smallholder farmers withthe tools and knowledge they need, Agro Supply isenhancing productivity, building resilience againstclimate change, and driving economic growth. Itsefforts are paving the way for a brighter, food-secure future—one farm and one harvest at a time. SPOTLIGHTETHIO.COM 11OUTSIDE THE BOXJOSEPH OGWALDECEMBER 2024

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12TOP LEADERSTOP LEADERSMTN GROUPPEZESHA UNITED AFRICA GROUPINTERSWITCH BABBAN GONA “Accept that when the facts are changing,there's nothing wrong with changingyourself.”"Dealing with fear is better than hiding from fear.Do not let fear consume you or dictate how youlive your life.”“If you have the right capability and capacityfrom a people perspective, it really makes a bigdifference.”“The problems facing Africa are too great for thepublic sector or traditional NGOs to solve. Theprivate sector can make a much more concerted,long-term effort to address these issues...”“Really put your energy, mind and effort into the rightthings. Part of that is investing in yourself...beingintentional about your growth and purpose. Once youcreate this rhythm, then success is possible.” SPOTLIGHTETHIO.COMHILDA MORAAHilda Moraa is a prominent Kenyan entrepreneur and the Founder and CEO ofPezesha, a digital financial infrastructure company empowering SMEs and financialinstitutions across Africa. To date, the company has disbursed over 500,000 loans andraised more than $15 million in debt and equity funding. Beyond her entrepreneurialventures, Hilda has been instrumental in shaping Kenya's tech scene, notably throughher work with iHub Research, Nairobi's pioneering innovation hub.KOLA MASHAKola Masha is the Founder and Managing Director of Babban Gona, a Nigerian socialenterprise established in 2012. With support extended to over 200,000 smallholdersand the creation of over 350,000 jobs, Babban Gona has significantly strengthenedeconomic stability in rural communities. Masha has also gained extensive experiencein both the public and private sectors, serving as a Senior Advisor to the NigerianFederal Minister of Agriculture and as CEO of a subsidiary of the Notore Group, oneof Nigeria's leading agricultural conglomerates.PHUTHUMA NHLEKOPhuthuma Nhleko is a distinguished South African businessman best known for histransformative leadership at MTN Group, one of Africa's largest telecommunicationscompanies. He is also the founder and chairman of the Pembani Group, a privateinvestment holding company focused on the energy, resources, and industrial sectors.A respected figure in the corporate world, Nhleko has also held various boardpositions, including at BP and Anglo American.MARTHA NAMUNDJEBO-TILAHUN Martha Namundjebo-Tilahun, the Chairperson of the United Africa Group, leads amulti-million dollar business empire and continues to soar high in the predominantlymale-dominated industry. Martha has also successfully ventured into financialservices, property development, and energy development. She is the owner of HiltonWindhoek and Protea Hotels Namibia, and has served as President of the NamibiaChamber of Commerce and Chairperson of the SADC Chamber of Commerce.MITCHELL ELEGBEMitchell Elegbe, the Group Managing Director/CEO and board member ofInterswitch, has been at the helm of the company since its inception in 2002.Interswitch processes over 90% of Nigeria's card and mobile money transactions.Elegbe's leadership prowess has garnered him numerous industry accolades, includingthe CNBC/Forbes All African Business Leader (AABLA) for West Africa in 2012, theErnst and Young Entrepreneur of the Year Award.DECEMBER 2024

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13Dr. Aisha Pandor: Building Bridges Between Science,Technology, and Social ImpactAfrica stands at a pivotal moment in its history—acontinent rich in natural resources, dynamic talent,and boundless potential. Yet, the challenge lies intransforming these abundant resources intosustainable growth that truly benefits its people. Forvisionary leaders like Dr. Aisha Pandor, the solutionlies in innovation, collaboration, and rethinkingtraditional business models to build economic valuethat stays within its borders. “How we leverage ourresources to ensure the economic impact flows backto the continent will be crucial,” Dr. Aisha Pandorsays in an exclusive interview with Spotlight Ethio. Dr. Aisha Pandor is one of Africa’s most dynamic andinfluential entrepreneurs. As the co-founder and formerCEO of SweepSouth, the continent’s first and largestonline platform for booking, managing, and paying forhome services, she has revolutionized an industrytraditionally driven by informal networks. What beganin 2014 as a response to the lack of tech-driven solutionsin the home services market has blossomed into one ofSouth Africa's fastest-growing startups, with a footprintextending to Kenya, Nigeria, and Egypt. Under herleadership, SweepSouth has raised over $20 million inventure capital funding—a feat reached by few Blackfemale tech startup CEOs globally—and has empowerednearly 50,000 service providers across multiple markets.Beyond SweepSouth, Aisha is driving innovation inwomen’s healthcare as the co-founder and CEO ofPandora Biosciences, a health tech company leveragingAI to address chronic women’s health conditions.Passionate about impact, she is also a founding partnerat E4E Africa, a venture capital firm that invests inunderrepresented African founders building scalable,impactful tech startups. Before embarking on herentrepreneurial journey, Aisha worked as a topmanagement consultant at Accenture South Africa,advising C-suite executives across various industries.With a PhD in Human Genetics and an Associate inBusiness Management from the University of CapeTown, she seamlessly blends scientific expertise withbusiness acumen to develop transformative, solution-driven ventures.Aisha’s trailblazing work has earned widespreadrecognition and accolades from prestigious platforms,including Forbes Africa, Fortune, and the WorldEconomic Forum. Through her ventures, she continuesto break barriers, championing technology’s potentialto solve societal challenges and improve lives. Whetheradvancing tech solutions, driving change in venturecapital, or innovating in healthcare, Aisha is charting apath that is both inspiring and impactful. SPOTLIGHTETHIO.COMAn Exclusive Interviewwith Spotlight EthioDECEMBER 2024

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Anchored in Resilience and AuthenticityAisha’s journey is deeply rooted in her upbringingwithin a family of South African anti-apartheid activists,which instilled a profound sense of purpose andcommitment to impactful work. “The importance ofimpact and doing work that's of service to others hasbeen a big theme in my career,” she shares, reflecting onhow this shaped her path as both a student of humangenetics and an entrepreneur. Growing up during SouthAfrica's transition to democracy, she faced thechallenges of attending schools that had once excludedher—experiences that fueled her determination to defydoubters and honor those who believed in her potential.Bridging Skills in Science and BusinessAisha’s journey of finding success in both science andbusiness is grounded in the shared principles of curiosityand iteration. “It all starts with being curious and askingquestions about the world around you—not just for thesake of understanding, but to improve things,” sheexplains. Whether in scientific research orentrepreneurship, the process involves forminghypotheses, testing them, and embracing failure as a steptoward progress. “As scientists, your experiments fail.As an entrepreneur, you iterate and experiment until youget it right—whether through product-market fit orsustained growth, there are signs,” she notes. Bothfields, she adds, demand a commitment to contributingvalue: “You can't just exist and not provide value.”Transitioning into entrepreneurship, however, requiredher to develop distinct hard skills beyond the lab, suchas financial management and commercial acumen. “Inscience, you contribute to a knowledge base, but inbusiness, you must think commercially,” she shares,emphasizing the shift in mindset. Leadership wasanother critical area of growth; as her company grew,Aisha learned to lead and manage teams, scaling herleadership alongside the business.“The thing that people don't often appreciate about innovation is that people don't like change.There has to be a good enough reason and a good enough way to get around people's reservationsto convince them to try out whatever it is that you're offering.”The Key to Inspiring Tech AdoptionAs the founder of SweepSouth, Africa's first and largestonline platform for home services, Aisha faced thechallenge of transforming traditional mindsets toembrace an innovative digital solution. Encouragingpeople to adopt her platform required a deepunderstanding of her customers' needs and concerns.“We had to think about the customer as someone whohasn’t been exposed to our solution and ask, ‘How do Iinsert myself into where they’re currently looking forsolutions?’” she shares. This involved identifying theirpain points and clearly articulating the platform's valueproposition in simple, relatable terms.Overcoming resistance to change was crucial,particularly addressing fears around safety, security, andtrust. “People don’t like change,” she explains. “Therehas to be a good enough reason to convince them to try.”Strategies such as displaying safety badges, showcasingservice provider profiles, and offering money-backguarantees helped build credibility and trust. “Wetackled reservations upfront by making it clear that ourservice was safe, reliable, and easy to use,” she says,underscoring her commitment to understanding andaddressing her audience’s expectations. Equally pivotal were the role models in her life—familymembers and others in her close circle who exemplifiedleadership and authenticity. “Having inspirationalpeople around me—real, strong, and honorable leaders—was really helpful in thinking about my own impact,”she reflects. These experiences collectively shaped her resilience,work ethic, and vision, guiding her toward a careerdedicated to meaningful change.FEATURE STORY“The importance of impact and doing workthat's of service to others has been a big themein my career.”14 SPOTLIGHTETHIO.COMDECEMBER 2024

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Misconceptions of Business in Africa Africa is often burdened by misconceptions, one of themost pervasive being that it is merely a charity case inneed of saving. Aisha challenges this narrative head-on,asserting, “The opportunity is not an opportunity forcharity—it’s an opportunity for collaboration,innovation, and doing things differently,” she asserts,highlighting the skilled and knowledgeable talentalready present. Doing business in Africa, she believes,is about partnering with local communities to buildvalue while ensuring those communities share in thebenefits. It’s not about “throwing money at people,” butrather creating meaningful, sustainable growth throughmutual effort and respect.For members of the African diaspora looking to bringtheir skills back to the continent, Aisha emphasizes theimportance of humility, collaboration, and respect.Understanding the unique cultures, languages, andchallenges, and opportunities across its diverse nationsis essential. Approaching with an attitude of listeningand a willingness to learn is critical, as is embracing thecommunal spirit embodied in the concept of ‘Ubuntu’—working with and for the community rather thanfocusing solely on individualism.Aisha also underscores that success in Africa requiresmerit, execution, and performance; assuming superioritybased on foreign experience or perceived sophisticationis a recipe for failure. “There are many smart, excellent,dedicated, knowledgeable people on the continent whoknow what they’re talking about, so coming in with apatronizing attitude would be a huge mistake,” she says.Building genuine partnerships and recognizing thewealth of expertise already present are essential formaking a meaningful impact.. “We’re still so early in our use of technology andrecognizing the opportunities we have with ourworkforce; so we have the opportunity to leapfrogand do things differently than the rest of theworld.”“How we leverage our resources to ensure theeconomic impact flows back to the continent willbe crucial.”15FEATURE STORY SPOTLIGHTETHIO.COMUshering in Africa’s Golden Growth Age Given Africa’s early stage of growth, Aisha is energizedby the vast, untapped potential of doing business on thecontinent. “We’re still so early in our use of technologyand recognizing the opportunities we have with ourworkforce,” she says, emphasizing the continent’sunique position to innovate. Unlike regions whereindustries are reaching maturity, Africa has the chanceto leapfrog its development by leveraging modern toolsand knowledge to do things differently and moreeffectively than ever before. As internet adoption accelerates in Africa, Aishabelieves the continent's greatest economic impact willstem from its people. With a population of 1.4 billion,Africa is uniquely positioned as the youngest continentglobally. “About 70% of people on the African continentare under the age of 30, and 40% are under 15,” shepoints out. This youthful demographic, brimming withpotential, can drive economic transformation if equippedwith the right skills. “We need to educate and upskillpeople to create the biggest economic impact,” sheemphasizes, highlighting the growing importance ofknowledge workers in a digital economy.Africa’s natural resources represent another significantopportunity for economic advancement. Aishaunderscores the need to ensure that “we are the primarybeneficiaries, not just Europe and the West.” Bydeveloping industries that process and utilize theseresources locally, the continent can retain more of thevalue generated. She sees this as an important step inaddressing historical imbalances where Africa’s rawmaterials disproportionately benefited externaleconomies.As Africa redefines its economic partnerships, Aishaemphasizes that “how we leverage our resources toensure the economic impact flows back to the continentis going to be crucial.” Encouragingly, she sees apromising shift, with emerging markets collaboratingmore effectively and recalibrating relationships withdeveloped nations. “It’s about creating a balance ofpower and benefits—not just giving, but fostering moreof a give-and-take dynamic,” she notes.DECEMBER 2024

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“Congruence is important in the work youdo; it’s important that there’s a thread thatties everything together and makes it makesense.” Management Strategies for High ImpactManaging multiple complex ventures like PandoraHealth, SweepSouth, and E4E Africa is undeniablychallenging, but Aisha has developed strategies tobalance her commitments effectively. “I try to block offspecific chunks of time for each venture, allowing me tothink deeply about them,” she explains. This structuredapproach not only ensures focus but also fosters cross-pollination of ideas, where solving a problem in one areasparks inspiration for another.Aisha’s work is deeply rooted in her values and a senseof alignment across her ventures. “Congruence isimportant in the work you do; it’s important that there’s a thread that ties everything together and makes it makesense,” she notes. For her, that thread is the intersectionof technology, impact, and scalability. Additionally,empowering women and driving meaningful benefits forthe African continent are central motivations that fuelher energy and passion across her various pursuits.“I hope to continue creating businesses that leave a lasting legacy, make a positive impact onAfrica’s tech industry, and inspire other builders—Africans, women, and young people—whoare eager to develop innovative solutions.” 16FEATURE STORYBuilding for Generations to Come Despite her many accomplishments, Aisha remainsdeeply motivated by the belief that her journey has onlyjust begun. “I studied for 10 years, spent anotherdecade building my first business, and have only juststarted my second—and I’m not 40 yet,” she shareswith excitement. Fueled by the potential for decades ofimpactful work ahead, she finds inspiration in thelongevity movement and the idea of having “anotherfive or six decades to build and create.”Equally thrilling for her is the rapid pace oftechnological advancement. Reflecting on how far theworld has come—from the novelty of cell phones in herteenage years to today’s discussions on AI andautomation—she’s captivated by what the future holds.The prospect of using cutting-edge tools to createmeaningful impact excites her, as she looks forward toexploring how advancements will shape the world—and her role in building it—for generations to come.Aisha envisions her legacy as one defined by the livesshe has positively impacted, grounding this philosophyin her upbringing and a deep sense of service.“Through SweepSouth alone, we have already touched250,000 lives by providing work opportunities forwomen and impacted 2 million people throughhouseholds served,” she highlights.Her aspirations extend beyond this success. She aims tobuild more businesses that leave a lasting and positivemark on Africa’s tech industry. Furthermore, she hopesto inspire others—particularly Africans, women, andyoung people—and embody transparent, honest, andpurpose-driven leadership. “If I’m able to do that, I’ll bereally happy with the work I’ve done,” she reflects. SPOTLIGHTETHIO.COMFor more interviews go to www.SpotlightEthio.com DECEMBER 2024

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Lebogang, known as "The Breakthrough Entrepreneur”, isthe founder and chairman of GEM Group, a renownedturnaround strategist, inspirational business speaker, andDragon investor on South Africa’s Dragon’s Den TVShow. His ventures continue to evolve, as he launched ayouth digital bank in 2017, to cater to African youth.AROUND AFRICA17Caroline MutokoLebogang GunguluzaSam GikandiPhuti Mahanyele-Dabengwa Caroline, one of Kenya's most celebrated mediapersonalities, is renowned for her enduring influence in themedia industry. As a voice for African narratives on theglobal stage, she has worked as an international moderatorand panelist with the United Nations and other leadingforums across East Africa, New York, Moscow, and London.Phuthi is a renowned South African business executive, bestknown as the first Black female CEO of Naspers SouthAfrica, a leading global technology and media company. Shehas spearheaded Naspers' strategic investments in localstartups and the tech industry, overseeing the company's $4billion operations. Sam, the co-founder of 'Africa's Talking', has played apivotal role in revolutionizing the tech industry in Africa. 'Africa's Talking' now serves a wide range of industries,including banking, healthcare, and agriculture, providing anessential service that connects millions of users across thecontinent.AROUND AFRICA SPOTLIGHTETHIO.COMDECEMBER 2024

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The Essence of Africa, the continent’s premierInternational Buyer Forum, is set to take placefrom December 2nd to 4th, 2024, at the SaritCentre in Nairobi, Kenya. This prestigious eventwill unite pre-qualified international buyers withAfrica’s leading tourism sellers, focusing onshowcasing the richness and diversity of Africantourism. With an emphasis on fostering valuableconnections and partnerships, the forumchampions sustainable tourism practices, drivingdevelopment that benefits both Africa and theglobal community.BOARDWALK EVEActuate Pre-Boston Nairobi SummitActuate Biomedicine is committed to transforminglives in Africa by leveraging blockchain,Decentralized Finance (DeFi), Artificial Intelligence(AI), and advancements in health and humandevelopment. From December 3rd to 6th in Nairobi,Kenya, the summit offers a unique opportunity toexplore how cutting-edge technologies can driveimpactful change in health and human developmentacross the continent.Africa Financial Summit (AFIS) 2024The annual Africa Financial Summit will take place onDecember 9th and 10th, 2024, in Casablanca, Morocco. Thispremier event will bring together leaders from across thefinancial industry, including bankers, insurers, fintechinnovators, capital markets experts, and mobile moneyoperators, alongside policymakers and regulators from Africaand beyond. The summit aims to address the sector’s pressingchallenges and develop concrete solutions to build a moreinclusive, resilient, and robust pan-African financial servicesindustry.Art Of Technology Lagos 6.0As technology evolves at an unprecedented pace,understanding the implications of ArtificialIntelligence (AI) is crucial for shaping policies,fostering innovation, and driving sustainableeconomic growth in the region. On December 5th,2024, the Art of Technology Lagos 6.0 conferencewill delve into the transformative impact of AI onthe economies of Nigeria and the Africancontinent.18BOARDWALK AVEEssence Of Africa SPOTLIGHTETHIO.COMDECEMBER 2024

Spotlight Ethio Magazine Issue 11

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