Latest news with #JamesWiseman
IOL News
4 days ago
- Business
- IOL News
The African Continental Free Trade Area: a game-changer for the financial sector
Global intra-regional trade figures show Africa at roughly 16% - a stark contrast to Europe (65%) and Asia (43%). Image: James Wiseman/Unsplash Global intra-regional trade figures show Africa at roughly 16% - a stark contrast to Europe (65%) and Asia (43%). The African Continental Free Trade Area (AfCFTA) aims to address this disparity by establishing a unified market. For banking and financial institutions considering investing in Africa's future, this is a pivotal moment to engage in the continent's economic transformation. The AfCFTA encompasses 54 countries and 1.3 billion people. By 2035, intra-African trade will exceed $140 billion (R2.5 trillion), representing 15% of the continent's exports. With full implementation, these exports could reach $952bn – a 29% increase. These aren't mere statistics; they represent real opportunities for businesses. The AfCFTA investment protocol's holistic approach requires abolishing tariffs, introducing regulatory conformity, open cross-border transactions, and protecting investments and intellectual property while ensuring investor obligations. Such an investment climate will facilitate the free flow of capital and attract Foreign Direct Investment (FDI). Designed to use "Deep Trade Agreements" (DTAs) encompassing additional policy areas - free movement of goods, services, capital, people, and intellectual property - the vision aims for a broader and deeper economically integrated trade bloc. The challenge is turning this potential into reality. Recent research and our experience in African markets indicate four key areas needing attention: infrastructure investment, digital innovation, SME empowerment, and energy. Infrastructure development remains a critical hurdle. The continent needs significant investment in transportation, energy, and digital networks. The financial sector can address this by uniting government initiatives and private-sector capital. In South Africa, banks leverage the country's capacity for long-term local currency finance to support infrastructure projects and work with development finance institutions to increase funding for these investments. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. 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Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Next Stay Close ✕ Digital innovation has led to substantial investment in modernising cross-border payments and developing blockchain documentation systems to reduce processing times. These innovations are crucial in markets like Kenya, where digital lending platforms enable SMEs to get rapid approvals when upgrading their infrastructure. Focusing on SMEs is crucial as they are the backbone of African economies yet struggle to access traditional trade finance. This is being addressed through innovative solutions like supply chain finance and specialised trade finance products that reduce working capital requirements. Banks are addressing the $19bn SME financing gap by providing access to invoice-based financing and creating an online marketplace connecting verified customers with pre-screened suppliers. These platforms demonstrate how digital solutions can democratise access to finance and develop new opportunities. In South Africa, trade compliance and digital adoption workshops are helping SMEs navigate new market opportunities. In Cote d'Ivoire, banks have developed specialised financing solutions for the agricultural sector. These programs combine financial support with capacity building, creating a sustainable foundation for business growth. The final pillar is renewable and sustainable energy. The AfCFTA principles emphasise that economic development should be environmentally and socially responsible. Investment in sustainable energy infrastructure is crucial for enabling trade and promoting a greener future. By focusing on ESG-compliant projects in renewable energy and agriculture, we can ensure inclusive and sustainable growth. This approach goes beyond traditional banking. Current policy discussions with governments and regulators are shaping a better environment for trade and investment. The impact of these initiatives is visible. Digital supply chain finance solutions are reducing costs and processing times for smaller businesses. Reports suggest increased adoption could boost exports of Egypt, Ghana, Kenya, Nigeria, and South Africa by $34bn by 2035. This growth potential is significant as the AfCFTA pushes the continent toward value-added industries and away from reliance on primary commodities. The future of African trade is being written now, and it's a story of integration, innovation, and inclusive growth. The AfCFTA represents more than a trade agreement: it is a platform for technological advancement, economic resilience, and food security. The agreement's success will depend on our ability to embrace digital innovation, support SMEs, and facilitate strategic investments. A combination of financial expertise, digital innovation, and strategic partnerships are helping turn the AfCFTA's social vision into an economic reality. Chris Egberink is CEO & head of banking and coverage in SA for Standard Chartered. Image: Supplied Chris Egberink is CEO & head of banking and coverage in SA for Standard Chartered. BUSINESS REPORT
IOL News
14-07-2025
- IOL News
Why migration must be a priority for decision makers and planners
In Africa, roughly 80 % of migrants remain within the continent, moving from one African country to another. Image: James Wiseman/Unsplash Millions of people are leaving their home countries to permanently live in another country every year. During 2024 the number of international migrants stood at 304 million. According to the UN definition, a person is considered a migrant if they moved across an international border, changed their country of residence and is living in the receiving country for more than 12 months, regardless of the reason for their migration or the legal immigration status of the person. Four regions of the world are experiencing significant shifts in the portion of migrants as a share of their total population. In Oceania, 21.5% of the population are migrants, in Northern America it is 15.9%, in Europe 12.6%, and in Western Asia and Northern Africa 9.3%. The top destination countries for migrants between 1990 and 2024 were the United States of America, Germany, Saudi Arabia, United Kingdom, France, Spain, Canada, and the United Arab Emirates. In some regions of the world, migration is a controversial topic. There are numerous accounts of hostilities against migrants and actions to curb their movement. But, one should not lose sight of the potential benefits that migrants bring. For a host country, migrants could contribute knowledge and skills that are otherwise lacking, and in ageing populations, younger migrants could bring social and economic vitality. Remittances to migrants' countries of origin are making significant contributions to the financial wellness of their families that remained there, and in some cases those remittances make up a considerable portion of the sending country's GDP. In Africa, roughly 80 % of migrants remain within the continent, moving from one African country to another. These movements fuel urban growth and sustain remittance economies, but also concentrate pressure on services, housing and labour markets in fast-growing cities. For South Africa, the number of international migrants doubled between 1990 (1.29 million) and 2024 (2.63 million). The number of international migrants moving to South Africa reduced during and after the COVID-19 travel restrictions, but it is picking up again. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Ad Loading However, large numbers of South Africans also migrate between provinces. For example, during the period between 2021 and 2026, StatsSA projects that 1.38 million people will move into Gauteng and 0.6 million will leave the province for other provinces within South Africa, while more than half a million people will migrate out of the Eastern Cape, with almost 200 000 migrating into the province. Looking towards the future, one of the next main drivers of migration on the African continent may stem from the effects of climate change. It may accelerate rural-to-urban migration, turning cities into default safety nets for displaced people. Indications of such shifts are already observable. The northern and western parts of the continent are projected to experience significant desertification. Extreme weather events, like the recent cyclones in Mozambique and flooding in Nigeria's river basins could displace people, many of whom may end up in already overburdened urban settlements. These should not be seen as isolated shocks; they are symptoms of a deeper trend. According to World Bank projections, Africa could see more than 85 million internal climate migrants toward 2050. Decision makers and planners should take cognisance of how and why people could be moving in future. Our towns and cities are already not keeping up with the influx of people wanting to live there. Moreover, some migrants arrive in a precarious condition that adds to the pressure on already overburdened social support systems and urban infrastructure. Serious foresight-informed action is required, sooner rather than later. Dr Doris Viljoen is the Director of the Institute for Futures Research at Stellenbosch Business School. Image: Supplied Dr Doris Viljoen is the Director of the Institute for Futures Research at Stellenbosch Business School. *** The views expressed here do not necessarily represent those of Independent Media or IOL BUSINESS REPORT
Forbes
09-07-2025
- Sport
- Forbes
James Wiseman Returns To Pacers As Indiana Bets On Development And Potential
Indiana Pacers' James Wiseman (13) shoots over Cleveland Cavaliers' Tristan Thompson (13) during the ... More second half of a preseason NBA basketball game in Cleveland, Thursday, Oct. 10, 2024. (AP Photo/Phil Long) INDIANAPOLIS – The Indiana Pacers have re-signed center James Wiseman to a two-year contract. Wiseman's signing was originally revealed when Pacers President of Basketball Operations Kevin Pritchard spoke with reporters in the Pacers practice facility on Monday. 'We saw a lot of potential in him in the preseason and going up until his injury. Very long, very athletic, becoming a better shooter,' Pritchard said of Wiseman. 'I think he's getting to that point where his injury is allowing him to get on the court. Not full, but do a lot. And I think Jim Boylen has done a great job with him.' The injury Pritchard noted is a torn Achilles that Wiseman sufferred in the first regular season game of the 2024-25 season. It held him out for the rest of the campaign, and the Pacers ultimately traded Wiseman to get his salary off of their books. Even after the injury and trade, Wiseman rehabbed from his injury in Indianapolis. He could be seen in the Pacers practice facility down the stretch of the recent campaign – Indiana knows his recovery outlook better than anyone. Why did the Pacers re-sign James Wiseman? Now, he's back with the franchise for a second season. Wiseman had six points and one rebound in his lone appearance for Indiana last season – a win over the Detroit Pistons. 'The minutes he was in there [weren't] very long. Ended up being a six-point game, and he scored six points, so his minutes were meaningful,' Pacers head coach Rick Carlsile said that night. INDIANAPOLIS, INDIANA - OCTOBER 17: James Wiseman #13 of the Indiana Pacers attempts a shot while ... More being guarded by Moussa Diabaté #14 of the Charlotte Hornets in the fourth quarter during a preseason game at Gainbridge Fieldhouse on October 17, 2024 in Indianapolis, Indiana. (Photo by) Wiseman turned 24 earlier this year. He's still young despite being around for five NBA seasons, though two of them ended before they started. He was on the roster for the Golden State Warriors championship in 2022 and put up his best numbers (12.7 points and 8.1 rebounds per game) with the Pistons in 2022-23. Because he is young and relatively inexperienced (just 148 career games), Wiseman's signing with Indiana is once again a bet on the team's ability to develop. That was the case last summer, too, but the Pacers new outlook actually makes a development bet make more sense now. With Myles Turner departing for the Milwaukee Bucks and Tyrese Haliburton out for all of next season, the 2025-26 campaign could be more about a blend of winning and devleopment that recent Pacers seasons. Wiseman makes good sense in that environment, especially since Indiana clearly likes his skillset after signing him two years in a row. They also are comfortable with his rehab since they've seen it more than anyone. 'I just want to develop, I just want to learn. I don't have any expectations or anything,' Wiseman said last summer after signing with the blue and gold. 'This is already a winning team. So just coming in, just learning, just trying to see what I can do to [have an] impact.' Wiseman is huge and has hops, an arcehtype worth betting on. In the preseason last year, Wiseman played in four games for Indiana – he averaged 8.5 points and 5.8 rebounds per game while shooting 70.8% from the field. The Tennessee native signed a two-year contract with the Pacers. It's a minimum-salary deal that contains a team option on the second season and is partially guarateed in both years. That's a fairly team-friendly deal, but fair value for someone who hasn't found his NBA footing yet. Wiseman projects to be one on Indiana's top three centers. Jay Huff and Tony Bradley are currently under contract for the blue and gold at the position, and Isaiah Jackson is trending toward a deal, accoridng to Prithcard. Jackson and Huff would likely be the top two bigs in the pecking order among that four, though all four are young and bring something different to the table. The Pacers roster now has 14 players. Wiseman has averaged 9.1 points per game during his career.
Yahoo
08-07-2025
- Sport
- Yahoo
Indiana Pacers Land NBA Champion in Free Agency
Indiana Pacers Land NBA Champion in Free Agency originally appeared on Athlon Sports. After losing Myles Turner to the Milwaukee Bucks in NBA free agency, the Indiana Pacers have added, re-signed, or traded for Tony Bradley, Jay Huff, and Isaiah Jackson. Advertisement Add in last year's second-round pick Enrique Freeman, and they have a center rotation devoid of any proven, starting-caliber talent, but with plenty of depth. Continuing that trend, the Pacers signed free agent James Wiseman, who most recently played for the Pacers last season, tearing his Achilles and ending his season just five minutes into the first game of the season. Jackson would soon follow with the same injury, and the start of the Pacers' magical season was actually filled with concerns over depth more than anything else. Wiseman is being brought back on a one-year deal. In his last full season, he averaged 7.1 points and 5.3 rebounds for the Detroit Pistons. He was picked second overall by the Golden State Warriors in 2020 and is generally regarded as one of the biggest busts in recent memory, although he did win a ring with the Warriors in 2022. Advertisement Before his Achilles tear, the Pacers were very high on Wiseman, and think that they, his third team, can finally get the most out of him. "He's a guy that our fans are going to like a lot," said Rick Carlisle of Wiseman before his injury. "Our players have liked playing with him." Wiseman was traded in a salary-dump move to the Toronto Raptors last season and quickly waived, although he is given another, possibly his last, chance to prove that he belongs in the NBA. Check out the All Pacers homepage for more news, analysis, and must-read articles. Related: Indiana Pacers Reveal Surprising Plans for Next Season Related: Tyrese Haliburton Supports the Indiana Fever and Injured Caitlin Clark This story was originally reported by Athlon Sports on Jul 7, 2025, where it first appeared.
Yahoo
07-07-2025
- Sport
- Yahoo
Former No. 2 Overall Pick in the NBA Draft Signs With the Indiana Pacers
Former No. 2 Overall Pick in the NBA Draft Signs With the Indiana Pacers originally appeared on Athlon Sports. Throughout the history of the NBA Draft and the thousands of players selected in it, there's a fine line between each of them and what it takes to be considered a boom or a bust. Advertisement For 2020 No. 2 overall pick James Wiseman, many consider him more of a bust after getting selected by the Golden State Warriors. Injuries have played a major role in Wiseman's career. Playing with the Warriors from 2020 to 2022, Wiseman was fortunate enough to win an NBA championship in his final year with the team. He's bounced around the league since his time in Golden State, but after being traded from Indiana to Toronto this past season, Wiseman agreed to a contract that will bring him back to the Pacers, per president of basketball operations Kevin Pritchard. Wiseman suffered a season-ending Achilles tear early last season while playing for the Pacers, leading to Indiana dealing him to the Toronto Raptors. Advertisement Toronto later waived the 24-year-old center in February, and after months of looking for a new team to join, the Pacers agreed to bring him back on Monday. His career hasn't been what many envisioned after being selected early in 2020, but it appears that franchises in the league are still giving him a chance despite the long list of problems he's had with staying on the court in both college and in the NBA. Mar 4, 2021; Phoenix, Arizona, USA; Golden State Warriors center James Wiseman (33) against Phoenix Suns center Deandre Ayton (22) at Phoenix Suns Arena. © Mark J. Rebilas-Imagn Images The Pacers will look for different answers after long-time center Myles Turner chose to sign with the Milwaukee Bucks in free agency on a four-year, $107 million. James Wiseman will continue to rehab his Achilles injury, and hopefully get back to full-health for the start of the upcoming season. Advertisement In 148 total games played in the NBA, Wiseman has averaged 9.1 points and 5.6 rebounds while shooting 56% from the field. This story was originally reported by Athlon Sports on Jul 7, 2025, where it first appeared.
