
Momentum Africa Business Revamp to Boost Unit's Profit Up to 60%
'If Africa can do 500 million rand ($27 million) to 600 million rand of earnings a year steadily and predictably, we'd be very happy,' Chief Executive Officer Jeanette Marais said in an interview Thursday.

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Fast Company
2 minutes ago
- Fast Company
The surprising power of being a generalist
I learned very early in my professional life that there are two paths to career success. Become an expert at one specific thing. Or master a few skills and leverage them simultaneously. The second option is working for me. Becoming a 'skills-powered' professional is how I can survive the future of work. The 'narrow expert' path doesn't work for everyone. New research from McKinsey shows that 44% of Americans want to switch careers, but nearly half say their biggest obstacle is a lack of skills. The biggest skills gap isn't a lack of technical knowledge; it's a lack of adaptability. Employers want people who learn fast, wear different hats, and solve cross-functional problems. In short, they want generalists. Just be enough You don't need to be everything. You just need to be enough of many things. You can't master everything. That's not the point. A generalist is strategically skilled in diverse areas. They are able to connect the dots others don't see. As David Epstein writes in his bestselling book Range, 'Modern work demands knowledge transfer — the ability to apply knowledge to new situations and domains.' To thrive in the future of work, think of yourself as a Swiss Army knife, built for the complexity of the productive environment. Skill stacking What you can do now is stack your skills. Then make them talk to each other. What makes you indispensable isn't in any one ability. It's a combination of transferable skills. Let's say you're decent at writing, coding, and psychology. Individually, none of those put you at the top. But together? You might be the professional an employer needs to design an app with a better user interface. And human behaviour knowledge is integrated into every interaction. Skill stacking can raise your market value by making you proficient (if not necessarily exceptional) in multiple areas. Make peace with not being 'the best' In any room, there's always someone who knows more about something. Becoming a generalist means focusing on what fits you. It means letting go of being 'the best' at one thing, especially when the rules keep changing. Become the most adaptable. The most curious. The most useful in unexpected ways. Employers want people with a diverse skill set who can adapt to the changing demands of work. A generalist has a beginner's mindset Every new skill you learn humbles you. It teaches you to learn faster, listen better, and synthesize across departments. Over time, you stop pursuing titles and start stacking tools that can help you become adaptable. Right now, talent is everywhere. AI can out-code us. Specialists can outshine in narrow fields. But no one else can have your exact set of skills, experiences, and insights. Your generalist path can become your defence against becoming obsolete. Don't just pursue a career. Build capability Careers are changing fast. Roles are disappearing. Even titles are evolving. But capabilities stick. Learn how to write clearly. Think critically. And present ideas. Invest in survival skills. They're what employers really want. Being good at many things, combined with the ability to switch context fast, is now a competitive edge. I'm not saying reject mastery. If something makes you come alive, by all means, hone in on it. But be open to building a bridge across many domains. You don't need to fit into one box The world of work won't stop changing. Professionals like you who adapt, connect and evolve will be ready for the uncertainties. It's how you stay useful when the rules change. The more skills you build, the more freedom you earn. Freedom to switch, lead, and secure your career. Stack your skills. You don't need to out-specialize anyone. You just need to be able to connect the dots that matter. And solve problems from multiple angles. A generalist knows how to learn, pivot, and apply knowledge across fields. Get into what excites you Become what psychologist Carl Rogers calls the 'fully functioning person.' Someone open to experience and always evolving. The best generalists are not just jacks-of-all-trades; they're masters of reinvention. Specialists see the trees. Generalists see the forest and the paths between them. You can offer both skills and perspective. That's why companies now prioritize learning ability over fixed expertise. Stay curious. Stay flexible. The future isn't about what you know. It's about how fast you can learn. Like Bruce Lee said, 'Be water, my friend.' That's how generalists win.


Bloomberg
3 minutes ago
- Bloomberg
Africa Must Plug $580 Billion Leak to Curb Debt, AfDB Chief Says
African governments must end corruption and illicit capital flows that cost the continent more than $580 billion annually if they're to deal with a debt pile that's approaching $2 trillion, according to the head of the African Development Bank. While nations also need access to more concessional financing — and debt-restructuring where necessary — curbing outflows is crucial, Akinwumi Adesina, the lender's president, said in an interview last week.


Forbes
33 minutes ago
- Forbes
Why Africa Could Be Your Next Growth Engine
Adam Fayed, CEO of By 2100, Nigeria's GDP is projected to be $6.91 trillion, bigger than the current economies of France, Germany, Japan and the U.K., with a population of 500 million to 600 million people. Across Africa, the population is set to quadruple, reaching 4.4 billion people. This is within a context whereby most countries will see falling or aging populations—including in Europe, China, Japan, South Korea and in a few decades in India's case. While nothing is certain and things can change, especially in a region known for geopolitical instability, it is quite likely that Africa could be the world's growth engine within the next few decades. How can companies take advantage of this? Create An Online Presence Firstly, as a young population, the number of people who are willing to do things online is immense. Some of my organizations have been doing business online in various African countries for years, and we have found that the number of people willing to conduct business remotely is massive. The African market was our second biggest market in 2021, to give one example. As English and French are widely spoken in most African countries, this gives numerous businesses the opportunity to take advantage of the African markets from afar. With that being said, having the right local partners can make a big difference. As scams have been prevalent across the continent in the past, some prospective clients do appreciate some local presence, coupled with a good online presence. More regulations and licenses can also help in this regard, which is why I recently announced a push to get more licenses across the continent. Beyond that, there are a number of steps businesses in the financial services industry need to take to succeed in the African market. Understand The Needs Of Your Customers Like all markets, businesses need to listen to clients and understand their needs. Many come into foreign markets and push what they see as 'best practice' down the throats of locals. It is very easy for financial services businesses that are coming from developed countries to assume that local markets are always 'behind' them and, with due course, all markets will converge. This isn't always the case. Local tastes can differ even once countries develop, as local conditions aren't the same globally. In reality, the wants and needs of clients do have to be considered, not just what you think is the best option. For example, when it comes to fixed income, many clients in East and West Africa are used to high returns offered by the banks. They often expect high fixed-return USD returns as well. This comes with risks, and a certain percentage will have selective memory if things go wrong, as I have discussed before. Clearly Explain The Risks It can be difficult to deal with mismatches between client expectations of returns versus risk and the reality. Therefore, the process of explaining risks to clients is important. That risk includes currency risks because getting 7% a year in USD terms might be higher than 14% a year in local currency in some instances. As the market gets more sophisticated, it is also important to ensure that more products are offered to cater to these needs, such as truss, foundations, high-net-worth insurance and much else. This might not be a huge market now, but it will likely grow dramatically in the years ahead. All businesses will get things wrong when it comes to international expansion, both in terms of physical and remote/online expansion. Yet going with a learning mentality is one of the keys to succeeding in adapting to any market. Forbes Business Council is the foremost growth and networking organization for business owners and leaders. Do I qualify?