Zambia IDC is partnering with Mercuria!
Thoughts by Tshepo Magagane
When we were winding down Merchant banking operations over a decade ago, the Chinese decided to buy the bank’s International Trading arm!
Do you know what they did?
They brought in people to sit with the traders – showing them exactly what they do daily…
…financially rewarding key individuals to stay to ensure the skills transfer is “successful”!
For African countries, the model extends beyond Debswana to Royal Bafokeng. It should be far-ranging, converting royalty to equity stakes, Putting those stakes into operational control/management, and using that to build out stakes in other sectors—vision, governance,and excellence!
Africa cannot continue to be a spectator in the extraction sectors, the related infrastructure, and ecosystem build-outs!
NB: In all of this, when I assess all parties involved, even in this deal, you have a different type of African who is more strategic, big-picture-thinking, and has technical expertise. From my discussions with all, “they understand that the status quo cannot suffice and is unfit for purpose. Africa has to take a transformational role in the transition and its development”!
“Blindingly Adequate” is a term Connington used when Aegon Targaryen appointed Duckfield to the Kingsguard…I will use the term to describe what has previously happened with Africans with the best intentions…
When I speak to Africans in these various institutions, I immediately tell them that “these are just the same people I have encountered in New York, London, Zug, and Hong Kong.”
It gives me real hope that we are on the right track!
