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The South African economic landscape has been tainted, with the effects showing in business confidence levels, inflation and now in South Africans spending .The South African industry insights report for the second quarter of 2019 has shown that citizens are increasingly relying on credit and loans to finance their lives. Carmen Williams, Director of Research and Consulting at TransUnion Africa joins CNBC Africa for more.

South Africans relying more and more on loans, credit cards to survive

By <a href="https://www.cnbc.com/2019/09/21/bill-gates-13-best-ted-talks-you-need-to-watch.html">Tom Popomaronis</a>



<a class="" href="https://www.ted.com/talks">TED Talks</a> are one of the best online resources for anyone who loves learning. I try to dedicate some time every week to watching a few of them. But there are so many good ones that it’s impossible to choose.



Luckily, I recently came across a&nbsp;<a href="https://www.facebook.com/BillGates/photos/a.10150331291841961/10152060779241961/?type=1&amp;amp;theater" class="">2014</a>&nbsp;playlist of&nbsp;<a href="https://www.ted.com/playlists/35/bill_gates_my_13_favorite_tal" class="">Bill Gates’ favorite TED talks</a>. Naturally, I had to watch them all.



The Microsoft co-founder whittled down his favorites to 13 essentials. There’s a broad range of topics to digest in the videos. Some of them, like ones about <a class="" href="https://www.gatesfoundation.org/what-we-do/global-development/polio">polio eradication</a> and <a class="" href="https://www.gatesfoundation.org/What-We-Do/US-Program/K-12-Education">fixing the education system</a>, are specific to Gates’ own interests.



But there’s one common thread throughout the videos: They’re all about how we can positively shape both ourselves and the world.Even if you aren’t interested in algorithms and robotics, there’s something for everyone here — and you’ll definitely finish the videos feeling smarter, wiser and more hopeful.



Here’s the complete list of Gates’ favorite TED talks, and what you can learn from each one:



1.&nbsp;<a href="https://www.ted.com/talks/hans_rosling_shows_the_best_stats_you_ve_ever_seen?referrer=playlist-bill_gates_my_13_favorite_tal#t-76874" class="">“The Best Stats You’ve Ever Seen,”</a>&nbsp;by Hans Rosling



Putting a bunch of data together in a coherent and captivating way is a challenge. But Rosling, a physician and epidemiologist who died in 2017, was brilliant in his creative use of visual aids.



In this talk, which has been viewed more than 14 million times, the stats guru dispels common myths about the so-called “developing world” by zeroing in on global trends in health and economics.



The most fascinating part of the talk is Rosling’s stunning presentation technique — using interactive bubble charts, compelling data and an energetic speaking style, which has been likened to the “drama and urgency of a sportscaster.”



Even if global health economics isn’t your thing, “The Best Stats You’ve Ever Seen” will give you insight into how the use of stats, visualization and lively body language can shift perspectives.



2.&nbsp;<a href="https://www.ted.com/talks/michael_specter_the_danger_of_science_denial?referrer=playlist-bill_gates_my_13_favorite_tal" class="">“The Danger of Science Denial,”</a>&nbsp;by Michael Specter



Specter, a staff writer for The New Yorker and author of “Denialism,” explores why the world has increasingly begun to fear scientific advances, instead of embracing them.



“I don’t need to say this, but vaccines are essential,” he says in the talk. “You take them away, and disease comes back, horrible diseases. That’s happening. We have measles in this country now. And it’s getting worse.”



Specter does a great job using several examples — vaccine claims related to autism, “Frankenfood” bans, the herbal cure craze — to illustrate the public’s fear and denial of science and reason. His talk encouraged me, and hopefully many others, to reflect on the consequences of ignoring scientific consensus.



Another great takeaway: There’s nothing more powerful than the scientific method, which involves trying stuff out, seeing if it works and changing it when it doesn’t. As Specter says, “It’s one of the great accomplishments of humanity.”



3.&nbsp;<a href="https://www.ted.com/talks/david_christian_big_history?referrer=playlist-bill_gates_my_13_favorite_tal" class="">“The History of Our World in 18 Minutes,”</a>&nbsp;by David Christian



Christian, a historian who is specifically a scholar of Russian history, starts the talk by winding back to the beginning of time: 13.7 billion years ago.



“Around us, there’s nothing,” he says. “There’s not even time or space. Imagine the darkest, emptiest thing you can and cube it a gazillion times — and that’s where we are. And then suddenly, bang! A universe appears, an entire universe.”



If you’ve ever wanted to learn the complete history of the universe, from the Big Bang to the internet, in a less amount of time than a “Simpsons” episode, here’s your chance. Or, maybe you don’t care to learn about history at all. If that’s the case, watch it anyway.



I was at first skeptical about how long my attention span could last watching this video, but after a full 18 minutes, Specter made me realize that in order to understand the challenges and opportunities in front of us, we must first learn about the journey that got us here.



4.&nbsp;<a href="https://www.forbes.com/sites/matthewherper/2012/04/15/melinda-gates-fights-to-put-birth-control-on-the-global-agenda-and-save-childrens-lives/#429919652f16" class="">“Let’s Put Birth Control Back on the Agenda,”</a>&nbsp;by Melinda Gates



Since the moment it was introduced, contraception has been a controversial topic. But Melinda Gates, co-chair of the Bill &amp; Melinda Gates Foundation, believes many of the world’s social change issues depend on ensuring that women are able to control their rate of having kids.



In the talk, Gates tells the story of a young business woman she met in Nairobi, who made and sold backpacks out of her home. When asked why she chose to have only three children, the woman said, “I wouldn’t be able to run my business if I had another child.”



Her income afforded her just enough to provide an education to all three of her children. “This is the same mental calculus that hundreds of millions of men and women have gone through,” Gates explains. “They’re able to give their children more opportunities by exercising control over when they have them.”



The list of priorities for countries both rich and poor is a massive one, but this talk makes a compelling argument about how essential something like access to birth control is.



5.&nbsp;<a href="https://www.ted.com/talks/bruce_aylward_how_we_ll_stop_polio?referrer=playlist-bill_gates_my_13_favorite_tal" class="">“How We’ll Stop Polio for Good,”</a>&nbsp;by Bruce Aylward



It’s not surprising to find this one on Gates’ list of favorites. Like Gates, Aylward, a Canadian physician and epidemiologist, is fighting to make a polio-free world.



Polio is almost completely eradicated, but as Aylward says in his talk, “Almost&nbsp;isn’t good enough with a disease this terrifying.” The disease, which affects mainly children, can cause paralysis, sometimes within a matter of hours, and death.



Aylward’s plan to continue the “scientific miracle” that ended polio in most parts of the world — and finally stop it for good — will inspire you to get the word out and encourage governments to keep their generosity up in helping to eradicate this horrible disease.



6.&nbsp;<a href="https://www.ted.com/talks/atul_gawande_how_do_we_heal_medicine?referrer=playlist-bill_gates_my_13_favorite_tal" class="">“How Do We Heal Medicine?”</a>&nbsp;by Atul Gawande



Doctors are capable of extraordinary things, and we depend on them to keep us healthy. But Gawande, a doctor and writer, argues that in order to do their job effectively, they must take a step back and look at new ways to do medicine.



Doctors used to know everything (at least in their area of expertise) and do everything themselves; those days are over, says Gawande. Physicians need to work together, and a new system for that may be as simple as a checklist, or a new way of coaching one another.



And his point isn’t exclusive to physicians; it applies to all of us, no matter what field we’re in. As Gawande says, “We’ve come to a place where we have no choice but to recognize, as individualistic as we want to be, complexity requires group success. We all need to be pit crews now.”



7.&nbsp;<a href="https://www.ted.com/talks/steven_pinker_on_the_myth_of_violence/transcript?referrer=playlist-bill_gates_my_13_favorite_tal#t-1337790" class="">“The Surprising Decline in Violence,”</a>&nbsp;by Steven Pinker



Pinker, a professor of cognitive science, makes a bold claim in this talk: We are far less likely to die violently than members of any previous generation.



“Until 10,000 years ago, all humans lived as hunter-gatherers, without permanent settlements or government,” he says.



Pinker uses visuals to show the corresponding statistic from the U.S. and Europe in the 20th century, and includes all the deaths of both World Wars. “If the death rate in tribal warfare had prevailed during the 20th century,” he says, “there would have been 2 billion deaths rather than 100 million.”



While I don’t doubt his data, the statistics are hard to believe. Has violence really declined? If the answer is yes, then could this decline be reversed? And if the answer to&nbsp;that&nbsp;is yes, how can we prevent it? These are all important questions we must ask.



8.&nbsp;<a href="https://www.ted.com/talks/nathan_myhrvold_could_this_laser_zap_malaria?referrer=playlist-bill_gates_my_13_favorite_tal" class="">“Could This Laser Zap Malaria?”</a>&nbsp;by Nathan Myhrvold



This was a fun and insightful one that I ended up watching twice. Myhrvold, who used to work at Microsoft, rolls out a live demonstration of a mosquito-zapping gizmo he and his team created.



It basically involves a “photonic fence” that uses lasers to track and obliterate disease-carrying mosquitoes. Of course, this talk was given nearly a decade ago, so it’s unclear how far Myhrvold’s invention got or where it is now.



His enthusiasm and obvious brilliance, however, are not only entertaining, but are also a simple reminder of how boldness and creativity can contribute to our efforts in tackling problems, big or small.



9.&nbsp;<a href="https://www.ted.com/talks/salman_khan_let_s_use_video_to_reinvent_education?referrer=playlist-bill_gates_my_13_favorite_tal" class="">“Let’s Use Video to Reinvent Education,”</a>&nbsp;by Salman Khan



If you’re not familiar with the Khan Academy, it’s a non-profit organization that provides a series of educational videos, in subjects like math, arts and humanity, and science.



Khan, a former hedge-fund analyst with degrees from MIT and Harvard, talks about how and why he created the Khan Academy. He also explains why interactive exercises through video are a key ingredient to humanizing the education system.



Not only can this help those in parts of the world with limited access to education, but it can also benefit the “adult learner, who’s embarrassed to go back and learn stuff they should have known before going back to college,” says Khan.



Gates, who moderates the talk, calls Khan’s efforts “amazing,” and an example of how technology can help create a more educated world.



10.&nbsp;<a href="https://www.ted.com/talks/blaise_aguera_y_arcas_demos_photosynth?referrer=playlist-bill_gates_my_13_favorite_tal" class="">“How PhotoSynth Can Connect the World’s Images,”</a>&nbsp;by Blaise Agüera y Arcas



Engineer Agüera y Arcas gives a luminous demo of a PhotoSynth, a software originated from Microsoft Live Labs and the University of Washington.



PhotoSynth uses still photos culled from the Web to build breathtaking dreamscapes, and then lets users navigate them. (While Microsoft shut down the software in 2017, its features returned later that year within the&nbsp;<a href="https://www.zdnet.com/article/microsoft-brings-back-photosynth-in-its-pix-app-for-ios/" class="">Microsoft Pix app for iOS</a>.)



We’ve come a long way in using technology to connect the world’s images, but the real inspiration here is about all the things we can do with the social environment. “This is now taking data from everybody — from the entire collective memory, visually, of what the Earth looks like — and linking all of that together,” says Agüera y Arcas.



11.&nbsp;<a href="https://www.ted.com/talks/david_blaine_how_i_held_my_breath_for_17_min/transcript?referrer=playlist-bill_gates_my_13_favorite_tal" class="">“How I Held My Breath for 17 Minutes,”</a>&nbsp;by David Blaine



“As a magician, I try to create images that make people stop and think,” Blaine says in the beginning of his talk. “I also try to challenge myself to do things that doctors say are not possible.”



One of those challenges: holding his breath for 17 minutes. I won’t give too much away (you’ll have to watch the video), but it involves meeting with a neurosurgeon, researching pearl divers and some major oxygen deprivation.



“I push through the pain to be the best that I can be,” Blaine says, as he gets a little emotional. “And that’s what magic is to me.”



Whether you’re a magician or not, he reminds us that with practice, training and lots of experimenting, you can do things that seem impossible.



12.&nbsp;<a href="https://www.ted.com/talks/susan_cain_the_power_of_introverts?referrer=playlist-bill_gates_my_13_favorite_tal" class="">“The Power of Introverts,”</a>&nbsp;by Susan Cain



In a world that prizes extroverts, looking inward is a virtue, not a problem, argues Cain, author of the best-selling book, “Quiet: The Power of Introverts in a World That Can’t Stop Talking.”



Some of the most influential people in history were introverts, she says, including Eleanor Roosevelt, Rosa Parks and Gandhi.



“Introversion,” Cain explains, “is different from being shy. Shyness is about fear of social judgment. Introversion is more about how you respond to stimulation, including social stimulation.”



Extroverts crave large amounts of stimulation, whereas introverts feel at their “most capable” when they’re in quieter, more low-key environments. But the problem is that places like our schools and workplaces are designed mostly for extroverts.



Cain offers a number of suggestions for how we can create a better balance between the two types. It’s essential, she says, especially if we want to maximize&nbsp;all&nbsp;of our talents.



13.&nbsp;<a href="https://www.ted.com/talks/vijay_kumar_robots_that_fly_and_cooperate?referrer=playlist-bill_gates_my_13_favorite_tal" class="">“Robots That Fly &#8230; and Cooperate,”</a>&nbsp;by Vijay Kumar



Kumar, dean of the University of Pennsylvania’s School of Engineering and Applied Science, gives an interesting lecture about something he and his team built: flying quadrotors, or small, agile robots that swarm, sense each other and form ad hoc teams. They can be used for construction, surveying disasters and far more.



He demonstrates the several features of the robot, which is built like a cross, with four rotors — each on an end of the cross pointed straight up. “You can send them inside buildings as first responders to look for intruders, maybe look for biochemical leaks [or they] can be used for construction and for transporting cargo,” Kumar says.



They can even be sent to collapsed buildings to assess the damage of disasters, he continues, or to map nuclear radiation levels after a nuclear accident. Even today, with all the advancements in the robotics industry, it’s amazing to watch and think about how far we’ve come.



<a class="" href="https://urldefense.proofpoint.com/v2/url?u=https-3A__www.linkedin.com_in_tpopomaronis_&amp;d=DwMFaQ&amp;c=LO_8KzsOlAGvgA6hdGI4v02U_XLiES0sR51Zca0yIy4&amp;r=fnb6sKq7SKN8iiAQiVc8NQSbL93Ztb9TeGwNUoj2-0Y&amp;m=P_Ys4FkTrXS6d3lDujeEcG0RASS_Te__ciXliHG8uo0&amp;s=rHzz9dkDjfkID7To9v-Lu83SKuT7yQyc4bQT7r89G-o&amp;e=">Tom Popomaronis</a> is a commerce expert, cross-industry innovation leader and Vice President of Innovation at <a class="" href="https://urldefense.proofpoint.com/v2/url?u=https-3A__www.massivealliance.com&amp;d=DwMFaQ&amp;c=LO_8KzsOlAGvgA6hdGI4v02U_XLiES0sR51Zca0yIy4&amp;r=fnb6sKq7SKN8iiAQiVc8NQSbL93Ztb9TeGwNUoj2-0Y&amp;m=P_Ys4FkTrXS6d3lDujeEcG0RASS_Te__ciXliHG8uo0&amp;s=MAZG4XFe5vj2XGn8I5ATujLEG6mysjDhAM2R5QnyNpQ&amp;e=">Massive Alliance</a>. His work has been featured in Forbes, Fast Company and The Washington Post. In 2014, he was named one of the “40 Under 40” by the Baltimore Business Journal.



This article first appeared on CNBC <a href="https://www.cnbc.com/2019/09/21/bill-gates-13-best-ted-talks-you-need-to-watch.html">https://www.cnbc.com/2019/09/21/bill-gates-13-best-ted-talks-you-need-to-watch.html</a> and is republished with its permission.

These are Bill Gates’ 13 favorite TED talks—and they’ll make you feel smarter, wiser and more hopeful

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eThekwini Municipality has catalytic projects most of which are infrastructure projects seeking to stimulate economic growth and create employment. The city has partnered with the private sector to turn the whole of Durban into a construction site. Joining CNBC Africa is Carlos Correia, CEO of Fundamentum Property Group.

eThekwini Municipality looks to boost economy in construction drive

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With heightened risks of recession ahead, falling trade and rising corporate debt threatening to push many countries into distress situations, developing countries face an extremely difficult climate. CNBC Africa spoke to Diana Barrowclough, Senior Economist from UNCTAD to discuss what measures can be used to reform countries.

UNCTAD on financing a global green new deal

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Banking union Sasbo and Cosatu have postponed tomorrow&#8217;s strike after the Labour Court interdicted them. The banking strike was expected to be the biggest since 1920. The union which has about 50,000 members wants a moratorium placed on job cuts. Cosatu National Spokesperson, Sizwe Pamla joins CNBC Africa for more.

Court blocks banking strike, union reacts

JOHANNESBURG (Reuters) &#8211; South African lender Capitec Bank on Thursday reported profit for the first half of the year grew 20%, in line with expectations, thanks to strong customer growth and a smaller impairment charge.



The performance outshone more muted growth at many rivals, who have struggled after the economy suffered its worst contraction in a decade and the unemployment rate hit an 11-year high after years of already stagnant growth.



“We’re fortunate to be growing, continuously hiring employees and not retrenching,” Capitec CEO Gerrie Fourie said in a statement.



Many South African lenders registered flat or minimal growth in their domestic retail banks, and large traditional lenders have been shuttering branches and cutting jobs in a bid to modernise their operations and bring costs down to compete with a host of new, digital-only rivals.



Headline earnings per share &#8211; the main profit measure in South Africa &#8211; stood at 2,545 cents for the period ending Aug.31, compared with 2,128 cents a year earlier. Stripping out non-operational factors, income from operations rose 7%.



Its shares were up 0.49% at 0728 GMT, with the strong results largely expected by the market after the lender previously said half-year earnings could rise by up to 21%.



“The result was more or less guided for&#8230; so that wasn’t a surprise,” Harry Botha, banking analyst at Avior Capital Markets, said, adding Capitec’s growth was more muted if a 17% decline in the bank’s credit impairment charge was excluded.



In the past two years, the bank has been reducing its exposure to the lowest-income consumers and tightening its credit policies, as well as trying to diversify away from a reliance on risky unsecured lending.



The reliance on risky lending and focus on the lower-income market leaves Capitec more exposed than peers to any increase in bad debts, and analysts had been concerned over a potential rise in troubled loans during the period.



But while the bank’s gross loan book grew by 17% to 60.25 billion rand ($4.02 billion), its total arrears of up to three months had decreased by 11% by the end of Aug 2019 &#8211; one of its best performances on arrears to date, Fourie said.



($1 = 14.9799 rand)



Reporting by Emma Rumney, Editing by Deepa Babington

South Africa’s Capitec profit meets expectations after jumping 20%

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In just over a month Britain is to leave the European Union but it all up in the air again , as this week the supreme court ruled that UK Prime Minister Boris Johnson&#8217;s suspension of parliament was unlawful. So what is Johnson&#8217;s next move following the looming Brexit deadline? Joining CNBC Africa is Alex De Ruyter, Director of Centre for Brexit Studies, Birmingham City University.

What’s Boris Johnson’s next move following court ruling on parliament suspension?

By Gary van Staden, Head of Research, NKC African Economics.



Mozambique’s elections – due in less than a month – will go ahead as planned despite threats by a splinter group of Mozambican National Resistance (Renamo) fighters who have defied the party leadership and vowed to step up its violence unless campaigning for the upcoming polls is suspended. There are no plans on the part of the government to suspend campaigning or delay the vote.



Fresh
elections are due on October 15 and the splinter group of disgruntled fighters
who lost January elections for a new leader following the death of long-time
boss Afonso Dhlakama have threatened to step up their banditry activities that
(to date) include two messy and unsuccessful attempts to hijack vehicles and
kidnap the occupants. 



The
new peace agreements implemented on August 1 by President Filipe Nyusi, leader
of the governing Mozambique Liberation Front (Frelimo), and Renamo leader
Ossufo Momade, required Renamo’s armed wing to disband (for the second time),
where members could either retire with a government pension or join the
national army.



Renamo’s
coercive capacity has dwindled to almost nothing following the death of
hardliner Mr Dhlakama, leaving a few disgruntled groups of fighters to continue
to resort to sporadic violence. 



Among
them was a renegade self-appointed ‘general’, Mariano Nhongo, who has falsely
claimed in several interviews to be ‘chief’ of Renamo’s armed wing. That was
never the case according to Southern African Development Community (Sadc)
sources. 



“We
do not acknowledge the recently signed peace treaty. An election will not take
place. Anyone who makes calls for elections should know: We will kill him,” Mr
Nhongo told foreign media while also claiming to be the legitimate leader of
Renamo having previously threatened to kill Mr Momade. 



Mr
Nhongo claimed to command some 500 troops, but Sadc intelligence and security
sources believe the number to be significantly lower and that these troops are
the dregs of the former armed wing and not very well trained. 



Nevertheless,
the commander continued his threats, saying that should the election
campaigning continue, “our attacks will continue”. He claimed that his fighters
had been responsible for two recent attacks on the vehicles of provincial
heavyweights in central Manica which left a total of four people injured.
Gunmen attacked two cars along the main N6 road from Beira to Chimoio. 



Some
media reports stated that the attack took place in the village of Zimpinga,
Gondola district, Manica – a Renamo zone of influence. Others said that police
had arrived on the scene, relatively swiftly ending the attack and foiling an
apparent attempted kidnapping. 



Speculation
that the actives of this splinter group, which must now operate outside any
formal Renamo structures or logistical or other support, have a capacity to
destabilise the elections, let alone the country, are fanciful and far-fetched.




The
evidence rather suggests a ragtag outfit of disgruntled fighters unable or
unwilling to accept the terms of the peace agreement. However, that does not
mean they are harmless. 



Sporadic
attacks on unarmed motorists could unfortunately result in fatalities. 



Mozambique
seldom runs perfect elections and the debates over legitimacy will resurface
before, during, and after the polls. But elections have tended to express the
will of the people and we doubt any Renamo splinter group will have much impact.

Op-Ed: Mozambique elections will go ahead despite threats of violence

By Mary-Jean Nleya 



Africa balkanised in 1884 – 1885 



The balkanisation of African states is a colonial
construct, yet it has become one of the most Africanised phenomena of
contemporary Africa. During the wave of independence, a pan-Africanist movement
swept over much of the continent with Julius Nyerere as its ardent proponent.
However, the drawn lines of the Berlin Conference remained firm causing
national identity to trump over a shared African identity. The recent
xenophobic attacks in South Africa, particularly the targeting of other African
immigrants in South Africa, is a testament to identity markers that have been
forged along national geographies &#8211; a consequence of the Berlin Conference. Some
Nigerian citizens returned home last week as result of the violence. The recent
actions in South Africa and the reprisal attacks in other African countries
targeting South Africa makes African integration hang in the balance. 



Xenophobia &amp; economic
integration



The
xenophobic attacks come at a time when African countries recently concluded the
largest trade agreement, since the creation of the World Trade Organisation in
1994. The African Continental Free Trade Area (AfCFTA) has the potential to
connect over 1.3 billion people as well as to form an economic zone of over $3
trillion and boost&nbsp;<a href="http://www.intracen.org/uploadedFiles/intracenorg/Content/Publications/AfCFTA%20Business%20Guide_final_Low-res.pdf">intra-African trade</a> in agriculture, manufacturing, raw
materials and services. However, such a potential requires more than simply
diplomatic relations across the continent, but also steadfast unity among
African people. Looting and destroying businesses owned by other African
migrants in South Africa, particularly businesses owned by those at the lower
rung of the socio-economic pyramid and the consequent retaliatory attacks in
various other African countries, goes against the very foundations of economic,
social and trade integration. 



The
AfCFTA was seen as acting as a buffer to the current trade-war climate by
strengthening regional trade within the continent of Africa; while free trade
is under attack in much of the developed world. If anything, the US-China trade
war is an additional propeller for African states to deepen trade-relations
among themselves.



However,
what use is an African trade pact that aims at building bridges and dismantling
borders; when the African people do not see themselves as a single identity? 



Art and development: The unifying
force of music



As the African continent grapples with its developmental agenda, art and specifically music has the propensity to act as a unifying force among African people. The major milestone accomplished by the <a href="https://www.youtube.com/watch?v=-X7b8fYcYCk">Ndlovu Youth Choir’s</a> magnificent performances that celebrated Africa as a continent and its culture, and that ultimately landed them a record as the first African act to make it to the finals of the US’ major talent competition, is significant not just as entertainment but also in forging a unified African identity in the midst of the regressive social and economic moment of the recent xenophobic attacks. Music that was composed specifically following the September 2019 xenophobic attacks was a song “Africa Unite” that poignantly explored social themes of interdependence and African togetherness. 



Music
is an
enabler in building bridges and in articulating and
expressing the complexities of identity politics found in development processes.
It is also a vital medium in communicating
and illuminating themes central to development discourse (including regional
trade integration) at a time where the social infrastructure of the continent
is of importance and heightened social tensions among
Africans need to be eased. 



Conclusion



The
AfCFTA, with its potential to make significant contributions to economic
development, curbing unemployment and poverty alleviation if it is supported by
effective policies, is a starting point; but an ingrained pan-African vision
from those at the bottom of the socio-economic pyramid all the way to the top
is essential for the growth of the African continent. The world has much to
benefit from an integrated and united Africa.&nbsp;Africa Unite.

Op-Ed: Africa urgently needs a shared identity for its $3trn free trade club to work, could music be a unifier?

SA Reserve Bank keeps repo rate unchanged at 6.50% (Full Speech)

JOHANNESBURG (Reuters) &#8211; South African retail sales rose 2% year-on-year in July following a 2.4% increase in June, Statistics South Africa said on Wednesday.



On a month-on-month basis, sales were up 0.2% and rose 2% in the three months to the end of July compared with the same period last year, the statistics body said.



Reporting by Olivia Kumwenda-Mtambo; Editing by Toby Chopra

South Africa’s retail sales up 2% year-on-year in July

LILONGWE (Reuters) &#8211; Malawi’s economy is likely to expand by 4.5% this year, the International Monetary Fund (IMF) said late on Tuesday, boosted by improved agricultural production and the rebuilding of infrastructure damaged by Cyclone Idai.



The growth projection is down slightly from the fund’s March forecast of a 5% expansion to gross domestic product. Earlier in September the finance ministry said growth would advance 5%, up from 4% growth in 2018.



The small southern African nation’s economy is largely reliant on sales of tobacco, tea and sugarcane, with growth having slowed in recent years because of an El Nino-induced drought, electricity shortages and political uncertainty.



Cyclone Idai, the worst cyclone in Africa for decades, lashed Mozambique, Zimbabwe and Malawi in March, killing thousands and wrecking infrastructure.



“Over the medium term, growth could rise further to 6-7%, backed by greater access to finance, crop diversification, an improved business climate and more resilient infrastructure, including improved electricity generation,” the IMF said in a statement.



In April last year the IMF granted Malawi a $112 million credit facility to help the country to stabilise debt and fight poverty.



Writing by Mfuneko Toyana; Editing by David Goodman

IMF sees Malawi’s economy expanding by 4.5% in 2019

LONDON (Reuters) &#8211; Global energy trader Vitol and Mozambique’s state oil firm, ENH, have launched a trading joint venture called ENH Energy Trading, Vitol said on Tuesday, to focus on liquefied natural gas (LNG), liquefied petroleum gas and condensate.



The new entity will be incorporated and based in Singapore.



The move is part of a wider trend since last year that has seen energy firms either set up new dedicated gas trading desks or expand existing ones in Singapore. Asia is the fastest growing LNG market, led by Chinese demand.



Singapore has also been expanding its LNG infrastructure by increasing storage capacity.



Mozambique has an estimated 125 trillion cubic feet of technically recoverable gas resources and is expected to become a top LNG exporter with over 30 million tonnes per year, the statement said.



There are two mega LNG projects being developed in the southern African country.



One, now owned by Total following the takeover of ex-operator Anadarko by Occidental Petroleum, has taken a final investment decision. The other, led by Exxon Mobil Corp, is expected to do so later this year.



Vitol traded 7.8 million tonnes of LNG last year and 7.4 million barrels per day of crude, making it the largest independent oil trader.



Reporting by Julia Payne; Editing by Louise Heavens and Mark Potter

What you need to know about Vitol and Mozambique’s state oil firm’s trading joint venture

JOHANNESBURG (Reuters) &#8211; South Africa’s economic growth is unlikely to reach the treasury’s target of 1.5% in 2019 because conditions have changed and the country is facing increasing headwinds, Finance Minister Tito Mboweni said on Friday.



This week ratings agency Moody’s, the last of the top three credit firms to rate South Africa’s debt at investment level, said it had lowered its growth forecast to 0.7% from 1%.



The central bank sees gross domestic product at 0.6% this year.



Both have cited slow economic reforms as the key drag on economic activity, and massive bailouts to state-owned companies, including 59 billion rand ($4.05 billion) to power firm Eskom.



This has limited the government’s scope for stimulus and raised debt while the resultant uncertainty has kept investment subdued.



“The assumptions underlying the forecasts have clearly changed &#8230; the actual deficit now is probably much higher,” Mboweni told a banking conference in Johannesburg.



He said that increasing calls for the treasury to bail out state firms was putting pressure on growth and spending.



“We must re-focus our economy on agriculture …but we also have to continue to support Eskom, because without electricity there is no growth,” Mboweni said.



A Reuters poll of economists this week forecast South African economic growth at 0.7% this year, up from 0.6% in the previous forecast. Second quarter growth bounced back 3.1% after a revised contraction of 3.1% in the first quarter.



($1 = 14.5521 rand)



Reporting by Mfuneko Toyana; editing by Andrew Heavens and Jason Neely

South Africa’s is likely to miss 1.5% growth target, here’s why

JOHANNESBURG (Reuters) &#8211; South Africa’s market regulator has fined retailer Steinhoff a record 53 million rand ($3.6 million) for making “false, misleading or deceptive statements” to the market, the company said on Thursday.



Steinhoff disclosed the hole in its accounts in December 2017 which shocked investors and wiped more than 200 billion rand off its stock market value.



The company said the penalty would have been 1.5 billion rand, but was reduced in recognition of the fact that the fraud was perpetrated by former employees and that the company had cooperated with regulators.



“Even after this reduction it remains the largest single fine ever imposed by the FSCA,” Steinhoff said in a statement, quoting the regulator.



The Financial Sector Conduct Authority (FSCA) ruled that multiple, significant restatements of the company’s accounts after December 2017 supported the conclusion that Steinhoff failed to meet its obligations under the Financial Markets Act.



Steinhoff CEO Louis du Preez said there were no more further FSCA enforcement actions outstanding against the Steinhoff.



“We are pleased that the matter has now been brought to a conclusion and that the FSCA has recognised our full co-operation with the investigation,” said Preez.



An independent report by PwC released in March found Steinhoff had overstated profits over several years in a $7.4 billion accounting fraud involving a small group of top executives and outsiders.



($1 = 14.6256 rand)



Reporting by Tanisha Heiberg; Editing by Mark Potter

Steinhoff has been fined R53 million for misleading markets

By <a href="https://theconversation.com/profiles/elvira-bolat-392016">Elvira Bolat</a>, <a href="http://theconversation.com/institutions/bournemouth-university-1215">Bournemouth University</a> and <a href="https://theconversation.com/profiles/nasiru-taura-773412">Nasiru Taura</a>, <a href="http://theconversation.com/institutions/bournemouth-university-1215">Bournemouth University</a>

Digital technology has created new opportunities for businesses in sub-Saharan Africa to compete on a more equal footing. However, these businesses have yet to enjoy the full benefits because of a difficult operating environment.

Our recently published <a href="https://www.palgrave.com/us/series/15149">book</a>, ‘Digital Entrepreneurship in Sub-Saharan Africa: Challenges, Opportunities and Prospects’, details case studies of economic sectors where digital technologies are making a positive impact.

In Ghana, digital technologies have had an impact on the agriculture sector. Agri-tech firms like Farmable, Farmerline and Esoko have successfully pursued the creation of new business ventures and renewal of existing, matured corporate business models. These agri-tech firms support farmers with pricing data, crowdfunding and communication activities. They are also connecting farmers with buyers as well as helping them work out what differentiates them from competitors.

Digital technologies are playing a role in Nigeria’s agricultural sector too.
<a href="https://primewavesltd.com">Prime Wave </a>, an engineering company that supplies equipment to rice processing firms, and Al-Wabel Trading Company Ltd, a rice miller, have been working together to invent new technological solutions. These are aimed at improving the performance of rice processing. The innovative solutions the company came up with for rice processing can be applied more widely across the agricultural sector. However, these firms have had to overcome regulatory and institutional challenges in the sector. 

<h2>Crossing boundaries</h2>

Digital technologies have also become a part of arts, media and entertainment, in particular in Kenya and Nigeria.

Case studies from <a href="https://link.springer.com/chapter/10.1007/978-3-030-04924-9_4">Nigeria</a> show how small and medium-sized new media players benefit from embracing a culture of experimentation, partnership and continuous learning. These businesses have adopted a “mobile first” mindset. They do this by using mobile technology as a resourceful, quick and flexible solution to do business, connect and promote their content. 

The advertising, game development and media companies that took part in the research had all invested substantially in establishing their own systems for sharing data. These firms also embrace the <a href="https://www.goodreads.com/book/show/45152042-the-passion-economy">Passion economy</a> which centres around social causes and <a href="https://europeansting.com/2019/08/29/how-to-turn-africas-manufacturing-sector-into-a-high-tech-powerhouse/">high access to mobile technology</a> “as driving forces of the business”.

Nigeria’s movie industry, too, has benefited from digitisation. The technology has improved production time and quality. It has also helped extend the reach of movies to wider audiences. Foreign investors are taking <a href="https://techcrunch.com/2019/07/15/canal-acquires-african-film-studio-rok-from-irokotv-to-grow-nollywood/">greater interest</a> in this <a href="https://www.thejakartapost.com/life/2019/07/08/nigerias-nollywood-film-industry-reels-in-foreign-investors.html">fast growing business</a>.

A potential drawback of digital technology in the arts is that cultural artefacts created digitally can also appear in many places at once. So, instead of gaining visibility it is actually lost in the digital crowd. But <a href="http://eprints.bournemouth.ac.uk/31756/">Kenyan artists</a> have managed to use social media networks to build their own “cultural capital” and gain access to physical galleries.

<h2>Innovation hubs</h2>

There’s also been an increase in the number of digital hubs across the sub continent. But do they really help business to start up and survive?

The number of innovation hubs in Africa has grown sharply. There’s BusyInternet and <a href="https://hubtel.com">SMSGH Solutions</a> in Ghana; <a href="https://link.springer.com/chapter/10.1057/978-1-137-57878-5_3">Erik Hersman’s iHub and Safaricom’s M-PESA</a> in Kenya; and Nigeria’s Yaba, a suburb of Lagos labelled the country’s Silicon Valley.

A chapter in <a href="https://www.hiig.de/publication/innovation-hubs-in-africa-what-do-they-really-do-for-digital-entrepreneurs/">our book</a> discusses the social complexity of engaging these hubs. In Accra, the Ghanaian capital, hubs could not provide support that is relevant to local digital entrepreneurs’ circumstances. Entrepreneurs in Harare thought that hubs “wasted precious resources”. Most hubs on the subcontinent also appear to make little contribution to the creation of new businesses. 

Perhaps <a href="https://ssir.org/articles/entry/to_augment_techs_transformation_of_sub_saharan_africa_impact_investors_should_focus_on_the_startup_ecosystem#">“impact-oriented” investors</a> who are passionate about the region should assist digital hubs to make the necessary changes to how they operate.

Local conditions and culture can shape the “ecosystems” in which businesses operate. Some of these conditions, such as corruption, are hostile to business efficiency. The <a href="https://www.newtimes.co.rw/news/inside-africas-bid-digital-economy">challenges</a> are most pronounced in the communications, transport, and energy networks. Much of the region’s infrastructure is inefficient, and more than three-quarters of the <a href="https://www.aa.com.tr/en/africa/sub-saharan-africa-s-future-linked-to-technology/1556198">population remains offline</a>.

Take Nigeria’s movie industry. It needs more than <a href="https://guardian.ng/business-services/bank-sees-opportunity-in-lending-to-creative-sector/">investment</a>. It also needs government to make regulatory changes to protect the creative sector. Government should also prioritise the development of movie industry skills. The same can be said about <a href="https://www.digitalmusicnews.com/2018/09/20/latest-nigeria-music-industry-pricewaterhouse-coopers/">the music industry</a>. 

<h2>Afrocentric digital solutions</h2>

Overall, the book highlights that in a region with multiple social, environmental, economic and political challenges there is a need for more interrogation into how both incumbent and new players in sub-Saharan Africa are shaping the landscape with a view to meeting the <a href="https://www.un.org/sustainabledevelopment/sustainable-development-goals/">UN Sustainable Development Goals</a>.

Digital technologies, as some of our case studies show, can play an important role in transforming African economies. However, digital technology solutions must not just be mere adaptations of dominant Western services and products. They must be aimed at meeting the sub-continent’s needs. In this regard, there’s a lot to learn from Japan. 

Demand for technology after the Second World War resulted in the development of a plethora of advanced solutions which secured Japan’s status as an innovator. 
There are promising new ventures such as <a href="https://edition.cnn.com/2019/04/14/africa/google-ai-center-accra-intl/index.html">Google’s Artificial Intelligence lab</a> in Ghana – the company’s first in Africa. This is a centre of research into digital solutions to Africa’s problems.<img loading="lazy" decoding="async" src="https://counter.theconversation.com/content/120005/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important" />

<a href="https://theconversation.com/profiles/elvira-bolat-392016">Elvira Bolat</a>, Principal Academic in Marketing, <a href="http://theconversation.com/institutions/bournemouth-university-1215">Bournemouth University</a> and <a href="https://theconversation.com/profiles/nasiru-taura-773412">Nasiru Taura</a>, Lecturer in Entrepreneurship and Innovation, <a href="http://theconversation.com/institutions/bournemouth-university-1215">Bournemouth University</a>

This article is republished from <a href="http://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/digital-technologies-are-transforming-african-businesses-but-obstacles-remain-120005">original article</a>.

Digital technologies are transforming African businesses, but what are the obstacles that remain?

<figure class="wp-block-image is-resized"><img loading="lazy" decoding="async" src="https://www.cnbcafrica.com/wp-content/uploads/2019/09/PxHere_xenophobia1.jpg" alt="" class="wp-image-344954" width="692" height="518"/><figcaption>Image by PxHere</figcaption></figure>



By Unathi Sonwabile Henema 



The looting of shops and the shutdown of several central business districts in several South African cities has unleashed violence and the destruction of property. The normal functioning of several cities has been disturbed by these acts, as public transportation was disturbed and this had a negative impact on employee attendance, destroying value for the public and private sector. 



The attacks on foreign nationals and their property are associated with xenophobia and opportunistic acts of crime. These acts of crime and violence are nothing short of being home-grown terrorism, and a form of economic crime. These acts have gained international attention and this had a detrimental impact on the brand image of destination South Africa. The brand image of a country is important in attracting investment and promoting tourism consumption. 



<h2 class="wp-block-heading">Perception trumps reality</h2>



In a world where perception trumps reality, negative perception of a destination is detrimental for the visitor economy. The tourism industry is one industry that depends on a country’s brand image to achieve its growth and sustainability. South Africa is one of the most beautiful countries in the world and is a bucket list destination. Potential tourists to South Africa always details the immense beauty of our country, and further ask about safety within the same sentence. 



Personal safety and security for tourists in South Africa is a challenge, that impacts on the competitiveness of South Africa negatively. The World Economic Forum’s Travel and Tourism Competitiveness Report under Safety and Security places South Africa at number 120 out of 136 countries, which means that safety for tourists is not guaranteed. Safety and security is supposed to be a dividend that is enjoyed by citizens and also tourists, and this is the responsibility of the state. Unfortunately, crime is rampant in South Africa, and it seems as if the only those perpetrators of crime who enjoy the fruits of our democracy. 



<h2 class="wp-block-heading">Tourism has been a cinderella industry</h2>



Tourism is disproportionally important for the economy of South Africa, which is in a growth trap. Tourism since 1994, has been a cinderella industry, whose growth rate has always been higher than the GDP growth of the economy. Tourism has therefore rightfully been declared the new gold as it drives the economy of South Africa as gold did. The growth of tourism is associated with the growth in jobs, due to the labour-intensive nature of the tourism industry. Jobs growth is what South Africa needs, and the tourism industry creates the number of entry-level positions at the lowest cost. 



The industry is able to assimilate labour that is both skilled and unskilled and is well-placed to mitigate the structural challenges facing South Africa, which includes the skills mismatch. The vast majority of tourists that visit South Africa are from the African continent, representing more than 60 percent of international tourists. In the latest ‘Tourism &amp; Migration’ it&#8217;s revealed that in June 2019, there were 154 361 international tourists, compared to 578 783 tourists from the African continent. 



<h2 class="wp-block-heading">Africa at the epicentre of SA&#8217;s tourism industry</h2>



The top 10 leading African inbound markets are represented by Zimbabwe at number 1 and Tanzania at number 10. The report further identified &#8220;other’&#8221; top leading inbound markets, which includes Nigeria (1), Kenya (2), Ghana (3) and Uganda (4). The report, therefore, paints a picture that the African continent is therefore the epicentre of our tourism industry. The acts of violence and xenophobia, therefore, threaten the tourism industry. African tourists travel to South Africa more frequently for shopping, healthcare, education, and visiting friends and relatives. Furthermore, research indicates that they are already outspending international tourists. 



Acts of violence and crime against tourists were declared an economic crime by the joint sitting of the Portfolio Committee on Tourism and Police. This means that acts of violence and xenophobia are a form of economic crime because it threatens the ability of South Africa to attract tourists.



Unathi Sonwabile Henama is an academic sangoma teaching tourism at Tshwane University of Technology

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Southern Africa

South Africans relying more and more on loans, credit cards to survive

These are Bill Gates’ 13 favorite TED talks—and they’ll make you feel smarter, wiser and more hopeful

eThekwini Municipality looks to boost economy in construction drive

UNCTAD on financing a global green new deal

Court blocks banking strike, union reacts

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Op-Ed: Africa urgently needs a shared identity for its $3trn free trade club to work, could music be a unifier?

SA Reserve Bank keeps repo rate unchanged at 6.50% (Full Speech)

South Africa’s retail sales up 2% year-on-year in July

IMF sees Malawi’s economy expanding by 4.5% in 2019

What you need to know about Vitol and Mozambique’s state oil firm’s trading joint venture

South Africa’s is likely to miss 1.5% growth target, here’s why

Steinhoff has been fined R53 million for misleading markets

Digital technologies are transforming African businesses, but what are the obstacles that remain?

Op-Ed: A tourism outlook on the looting of shops and xenophobia

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