Tag Archives | transformation
The prestigious Top Women Awards celebrate top companies and individuals at the forefront of gender empowerment. Last year, KPMG was awarded the Top Gender Empowered Company Award and the award for the Financial Sector category. This year’s Award recognises our sustained deep commitment to gender empowerment.
With a population of one billion and an economy likely to double in size from US$2 trillion to US$4 trillion before 2025, Africa has quickly emerged as the next economic driver for the global economy. While the success of Africa’s rise is well-founded, a far more granular approach to grasping the nuances and realising the opportunities is essential. This goes beyond country-by-country assessments. A deeper assessment of this economic energy and growth reveals that it will be largely driven by Africa’s emerging cities. The nature of the business environment in Africa will increasingly demand a far more city-oriented investment approach.
By 2030 Africa will have 760 million urban residents. By 2050 the figure is expected to grow to 1.2 billion. This rapid migration has intensified the need to develop Africa’s megacities, and infrastructure has become one of the key strategic priorities amongst senior leaders throughout Africa.
Two of the goals as set out in the National Development Plan (NDP) are the transformation of urban and rural spaces in South Africa and investment into a strong network of economic infrastructure designed to support medium to long-term objectives.
Foreign Direct Investment (FDI) into Africa is on a path of continuous growth according to the Africa Emergence: Rise of the Phoenix report. Growth in the region, to date, has been referred to as only the “tip of the proverbial iceberg”. Our own Yunus Suleman added that the continent has much more to offer, and that Africa is set to hold its title as one of the largest FDI destinations and one of the fastest-growing economies.
The KPMG Africa Conversation Series was launched to create a platform where we could ‘host’ panel discussions aimed at Pan African business issues. As a leading audit, tax and advisory firm, KPMG is well positioned with a broad base of expertise, to share insights drawn from business, government, and academia in order to better understand the African context.
At the end of two days of wide-ranging analysis of various issues facing Africa today, delegates of the World Economic Forum will gather for a final session aptly titled “Facing Africa’s Future”. In the course of chairing the discussion amongst a diverse panel of contributors, Chairman Eric Kacou (co-founder of Entrepreneurial Solutions Partners in the USA) will seek to crystallize the way forward for Africa – at least as far as it has been articulated at the Forum.
Based on the principles of the Spatial Development Initiative (SDI) conceived by the South African government in 1995, resource corridors in Africa are areas in which opportunities (mainly resource-based anchor projects and associated infrastructure) have been identified that can be realised through investments to achieve sustainable development, particularly development brought in other sectors through access to the resource infrastructure.
Agricultural transformation is about individual farms shifting from highly diversified, subsistence-oriented production towards more specialised, market-oriented production. This involves a greater reliance on input and output delivery systems and increased integration of agriculture with other sectors of the economy.
Fraud and corruption will always be at the forefront of the minds of those looking to invest in Africa. In this regard, the recently published KPMG Africa fraud Barometer for 2011 reported some telling statistics about reported fraud on the continent. The Barometer was developed “to form a bigger picture of fraud prevalence on the African continent”, incorporating data from available news articles on Africa and other designated databases. The Barometer compares fraud reports from the six months ended June 2011 to the six months ended December 2011.
Many international and local companies have introduced products responding to changing consumer needs and consumer preferences shifting to more sustainable behaviour – these include products targeting new and growing industry sectors, products with a ‘green’ element and products responding to new and increasing risks.
Deepening social, economic and environmental challenges over the last two decades mean that sustainability issues are increasingly prominent in global business. sustainability trends predicted to play out over the next 20 years paint a picture of resource constraints, increasing regulation, shifting competitive landscapes, changes in market size and shifting consumer preferences.
World Bank Chief Economist for Africa, Shanta Devarajan, recently wrote that sub-Saharan Africa in 2011 has unprecedented opportunity for transformation, and sustained growth, and helping to ensure the right energy solutions are available to help achieve this prospect will simultaneously be good for climate protection and local development as well. Still at the threshold of a renewable energy revolution, what are some of the challenges this environment presents and what are some of the opportunities for investors? This is just some of what is discussed in this episode of the KPMG Africa Conversation Series.