JOHANNESBURG (Reuters) &#8211; Old Mutual Ltd will launch its second share buyback of the year on Sept. 3, South Africa’s second-largest insurer said on Monday after posting a 10% rise in half-year profit.



The company will buy back up to 2.4 billion rand ($157.51 million) worth of shares subject to market conditions.



“The board believes that the share price is trading at a discount to its intrinsic value and is of the view that a share repurchase programme will deliver longer term incremental value to shareholders,” Old Mutual said.



In the past few years, the 173-year-old company has broken up an international conglomerate structure to return to its roots as an African financial services group with its primary listing in Johannesburg.



Shareholders had hoped this homecoming would bolster the value of the group’s stock, but instead it has dropped amid a damaging public dispute with sacked Chief Executive Officer Peter Moyo.



Shares have lost around 18% since the company suspended Moyo in May. Old Mutual fired him in June, but he has been temporarily reinstated by a court &#8211; a decision the insurer is appealing.



The company launched a buyback programme at the end of its last financial year in March, again intended to placate shareholders after a more than one-third drop in its share price since a listing in June 2018.



Adjusted headline earnings per share (HEPS) stood at 109.1 cents in the six months to June 30, compared with 98.9 cents a year earlier, Old Mutual said.



HEPS is the main profit measure in South Africa that strips out certain one-off items.



($1 = 15.2369 rand)



Reporting by Emma Rumney; Editing by Subhranshu Sahu

What you need to know about Old Mutual’s plan to buy back $158 million more shares

NAIROBI (Reuters) &#8211; Kenya’s inflation fell to 5.0% year-on-year in August from 6.27% a month earlier, helped by falling food prices, the statistics office said on Friday.



On a monthly basis, inflation was -0.90% from -0.36% in July, with the Food and Non-Alcoholic Drinks Index falling 1.89% compared with July, the Kenya National Bureau of Statistics said.



Reporting by George Obulutsa; Editing by Maggie Fick

Kenya’s inflation falls to 5.0% year-on-year in August

JOHANNESBURG (Reuters) &#8211; Sibanye-Stillwater is in talks over a potential acquisition of the world’s deepest gold mine, Mponeng, as current owner AngloGold Ashanti plans its South African exit, Sibanye said on Thursday.



A spokesman for the diversified miner confirmed the talks, after AngloGold said in May that it would review divestment options for Mponeng and other South African assets to focus on higher returns elsewhere.



“We have said we are open minded to the opportunity,” Sibanye chief executive Neal Froneman said.



“We are not panting after more deep-level gold mines but there are significant synergies and opportunities between Driefontein and Mponeng.”



He declined to comment further due to a non-disclosure agreement.



Sibanye swung into the red in the first half as a five-month strike at its South African gold operations weighed on profits despite improved financial results from the South African and U.S. platinum group metals (PGMs) operations.



Sibanye on Thursday reported a headline loss for the six months to end June of 54 cents per share, compared with a profit of 4 cents per share a year before.



“We have successfully navigated our way through this challenging period and I am confident that we have emerged in a stronger position,” Froneman said in a statement.



A five-month strike at the firm’s gold operations over pay and job cuts, which ended in April and cost Sibanye more than $100 million in lost revenue, also hit gold output.



Bullion production for the period fell to 344,752 ounces from 598,517 ounces a year earlier.



The miner, which is currently engaged in wage negotiations in the platinum sector, said it would be able to sustain a strike in the sector but that it was an unlikely scenario as negotiations were ongoing.



The sector’s majority union the Association of Mineworkers and Construction Union (AMCU), which originally demanded a hike of around 48%, said earlier this month that the offer by Sibanye for the Lonmin operations was a “slap in the face”.



Sibanye, which concluded the Lonmin acquisition in June to become the world’s second-largest platinum producer, said the assets were currently under a review which would be concluded during the third quarter.



“Whilst the improved PGM price environment may justify extending the operating lives of some of these operations, thereby mitigating the impact on job losses, a number of shafts have finite reserves and derive limited benefit from higher PGM basket prices,” Sibanye said.



Platinum prices are up 15% this year, while those of sister metal palladium are nearly 17% higher.



Froneman said a supportive precious metals price and a positive operational outlook would benefit earnings and cash flow in the second half, enabling it to pay down debt and possibly resume cash dividends payments in 2020.



Sibanye last paid a dividend in February 2016.



The firm said debt reduction will continue to be a priority after it was delayed by the impact of this year’s strike on its South African gold business.



Reporting by Tanisha Heiberg; Editing by Susan Fenton, Kirsten Donovan

Sibanye-Stillwater in talks over potential acquisition of AngloGold Ashanti’s Mponeng mine

By Jared Jeffery, Political Analyst, NKC African Economics



For three consecutive weeks leading up to 19 August 2017, police or intelligence agents allegedly followed opposition chief whip, and perennial thorn in the president’s side, Tundu Lissu wherever he went. 



&#8220;They
should work to fight criminals and not waste their time and money on taxpayers
worrying about citizens fulfilling their right to hold government to
account,&#8221; he told attendees of the Democracy and Progress Party’s
(Chadema) summit. 



Less
than three weeks later, on 7 September 2017, attackers armed with AK-47s
sprayed his vehicle with bullets outside his house at a guarded government
housing compound in Dodoma. He was shot 16 times but survived. 



Two
years later, the perpetrators have not been apprehended and the government is
trying to revoke Mr Lissu’s position as a Member of Parliament (MP) due to his
absence for medical treatment. 



The
High Court on Monday, August 26, dismissed the state’s attempt to block an
application by Mr Lissu to challenge the decision to strip him of his seat in
Parliament. 



A
minor victory in a campaign to return and take on President John Magufuli in
next year’s election. 



The
application, filed by his brother Alute Mughwai in his absence, also seeks to
suspend the swearing-in of Miraji Mtaturu of the ruling Revolutionary Party
(CCM) as MP for the Singida East constituency, according to The Citizen. 



Mr
Lissu is also facing a sedition case which has been adjourned until September
23 due to his medical absence. It is not yet clear whether he will return by
that date. 



Other
Chadema leaders are fighting their own court battles. National Chairman Freeman
Mbowe, Secretary General Vincent Mashinji, and seven other senior members
(including five MPs) are facing charges of sedition, unlawful assembly, and
inciting the commission of offences, among others, related to events last
February during the Kinondoni by-election. 



A
university student was killed by a stray bullet when police tried to break up
the demonstration organised by Chadema. 



Elections
are still over a year away but plans to counter the repressive turn that the
political environment has taken under Mr Magufuli will need to be put in place
soon if the opposition is to have any chance. 



Mr
Lissu’s return and a legal victory to keep his seat in Parliament would be a
significant boost. It would also signal that the judiciary is able to withstand
executive pressure. 



Even
if Mr Lissu and the Chadema leadership overcome the legal challenges they face,
we can expect more trumped-up charges (likely on sedition and insulting the
president) to be laid to hamper their campaign. 



Before
being shot, Mr Lissu had been arrested six times in 2017 alone. 



The
excessively empowered registrar of political parties, who benefits from the
recently passed Political Parties Act, will also likely do their best to keep
the opposition on the backfoot. 



The
year ahead is going to show what is left to salvage of the country’s democratic
progress pre-Magufuli. 



Hopes are not high.

Op-Ed: Shot and stripped of his seat, Tanzania opposition MP Tundu Lissu keeps fighting

By <a href="https://www.cnbc.com/2019/08/28/elon-musk-computers-will-surpass-us-in-every-single-way.html">Jordan Novet </a>



<a class="" href="https://www.cnbc.com/quotes/?symbol=TSLA">Tesla</a> CEO <a class="" href="https://www.cnbc.com/elon-musk/">Elon Musk</a> on Wednesday said that computers are getting smarter than humans in more and more spheres and that the trend will continue.



“We will be far, far surpassed in every single way. I guarantee it,” Musk said to&nbsp;<a href="https://www.cnbc.com/jack-ma/" class="">Jack Ma</a>, chairman of&nbsp;<a href="https://www.cnbc.com/quotes/?symbol=BABA" class="">Alibaba</a>, at the World Artificial Intelligence Conference in Shanghai.



The comments highlight an evolving landscape in technology, including in artificial intelligence — an area&nbsp;<a href="https://www.cnbc.com/2017/06/17/what-is-artificial-intelligence.html" class="">technology companies are tapping</a>&nbsp;to enhance their products and sell to businesses.



Musk pointed to advances in chess and the Chinese board game of Go as evidence of progress in AI.



“Your cell phone could crush the world champion of chess, literally,” Musk told Ma.



company is seeking to draw on AI for&nbsp;<a href="https://www.cnbc.com/2019/07/17/elon-musk-brain-machine-startup-neuralink-plans-human-trials-in-2020.html" class="">augmenting people’s cognitive capabilities</a>&nbsp;with brain-machine interfaces. The company is not there yet, though.



“The first thing we should assume is we are very dumb,” Musk said. “We can definitely make things smarter than ourselves.”



Ma had a different view, suggesting that a computer has never spawned a human being, or even a mosquito.



“I’ve never in my life, especially [in the] last two years, when people talk about AI, human beings will be controlled by machines,” he said. “I never think about that. It’s impossible.”



And Ma said that he does not want to play chess or Go against a machine. These games were designed for people to play against each other, he said.



“I’ll be happy to see two computers fight each other,” Ma added.



The Tesla chief has spoken previously about AI. In 2017&nbsp;<a href="https://www.cnbc.com/2017/09/04/elon-musk-says-global-race-for-ai-will-be-most-likely-cause-of-ww3.html" class="">he suggested</a>&nbsp;that competition among nations in AI could lead to World War III.



Tesla has sought to do more in AI. Musk revealed that Tesla was working on a custom AI chip&nbsp;<a href="https://www.cnbc.com/2017/12/08/elon-musk-talks-up-teslas-upcoming-artificial-intelligence-hardware.html" class="">in 2017</a>, and last month he said the automaker would “most likely” start retrofitting older vehicles with its chips by&nbsp;<a href="https://www.theverge.com/2019/7/8/20685873/tesla-fsd-chip-upgrade-2019-install-hw2-full-self-driving" class="">the end of 2019</a>.



In 2015 Musk co-founded <a class="" href="https://www.cnbc.com/2019/07/22/microsoft-invests-1-billion-in-elon-musks-openai.html">OpenAI</a> as an AI research nonprofit. He <a class="" href="https://www.cnbc.com/2018/02/21/elon-musk-is-leaving-the-board-of-openai.html">left the board</a> last year. He said in a tweet earlier this year that OpenAI and Tesla were at times both trying to hire the same people, and that he and OpenAI didn’t always see eye to eye.



<blockquote class="twitter-tweet">Also, Tesla was competing for some of same people as OpenAI &amp; I didn’t agree with some of what OpenAI team wanted to do. Add that all up &amp; it was just better to part ways on good terms.&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1096989482094518273?ref_src=twsrc%5Etfw">February 17, 2019</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>



This article first appeared on CNBC <a href="https://www.cnbc.com/2019/08/28/elon-musk-computers-will-surpass-us-in-every-single-way.html">https://www.cnbc.com/2019/08/28/elon-musk-computers-will-surpass-us-in-every-single-way.html</a> and is republished with its permission.

Billionaire Elon Musk: Computers will surpass us ‘in every single way’

By Dr Zweli Mkhize, MP and South Africa&#8217;s Minister of Health.



We
are all shattered by the sad news of the tragic and sudden loss of our beloved
Dr Thandi Ndlovu.&nbsp;



Dr
Ndlovu was an inspiring entrepreneur, a community developer, a freedom fighter,
a friend, a good doctor and a lovely human being.&nbsp;She inspired both
business women and men and was always elected to be their leader because of her
vision and her courage.&nbsp;



She
was trusted by many of us who still expected her to contribute a lot to the
future of our country. She worked hard and achieved many incredible milestones
in her career; making us all proud of her as a professional and a
businesswoman.



Personally,
I had the privilege to work closely with her as a comrade and business person
during my tenure as the Treasurer General of the African National Congress; as
she occupied leadership positions in various business organizations.



It
was fun to watch her in action &#8211; she was spectacular!&nbsp;



&nbsp;She
fought hard for Black business to be given space and be supported; taking up
their issues of unfair treatment and unpaid invoices as their spokesperson;
confronting inefficient and arrogant beaurocrats; with success.



In
the construction sector, Dr Ndlovu was known as the undisputed champion for
inclusivity, high quality performance and a fearless opponent for collusion and
injustice perpetrated against black contractors.&nbsp;



She
challenged chief executives and chairpersons of boards of the
large&nbsp;construction companies and on behalf of Black Business Council got
them to concede to a corrective process to address the past injustices; known
as Voluntary Rectification Program (VRP). This was a major achievements for the
BBC and government to enforce empowerment in the construction sector.



Men
and women in the industry respected her as a leader. 



For
her, being a woman was a source of confidence, strength, authority and decisive
leadership – it all came naturally. She was a strategist whose business acumen
made her a wise leader who was equally formidable and diplomatic in the board
room. These qualities made her ideas prevail.



Sisi
Thandi was a powerful force for transformation and economic emancipation!



&nbsp; South Africa&nbsp; has lost a leader and we
as a nation are all the poorer on such great a loss.



She
was a talented golfer,&nbsp; a generous person who loved people. She was always
cheerful with her loud infectious laughter.



She
was&nbsp; a good, humble and a caring soul and always a doctor at heart.&nbsp;



We
shall forever miss her sisterly love and warmth.&nbsp;



We
convey our deepest condolences to her beloved family, and to her friends.&nbsp;
May&nbsp; they be consoled to know that we
share in their grief.



May
her soul Rest In eternal Peace!

Op-Ed: A tribute to Dr Thandi Ndlovu

TOKYO (Reuters) &#8211; Japan will offer enhanced trade insurance to boost private sector investment in Africa, Prime Minister Shinzo Abe said on Wednesday as his country competes with rival China for influence in the resource-rich continent.



 “Let me make a promise,” Abe told the Tokyo International Conference on African Development (TICAD) attended by a few dozen African leaders and representatives of international organisations such as the World Bank.



“The Japanese government will do its utmost so that our private-sector investment in Africa, which came to $20 billion over the past three years, will be expanded continuously,” Abe added.



The enhanced insurance would fully cover loans to African governments, their affiliated institutions or private companies buying Japanese goods for infrastructure projects in Africa, according to government briefing materials and a state-run firm offering trade insurance.



“For example, our cooperation with local financial institutions will create a new trade insurance that could cover 100% of your transactions,” Abe said in his speech.



He did not make a major funding announcement at the Tokyo meeting.



At the last TICAD conference in the Kenyan capital Nairobi in 2016, Japan pledged $30 billion in public and private support for infrastructure development, education and healthcare in Africa over three years.



Foreign investment in sub-Saharan Africa rose 13% last year to $32 billion, bucking a global downward trend and reversing two years of decline, according to a United Nations report published in June. [nL8N23K3T7]



Last September at a summit with African leaders in Beijing, Chinese President Xi Jinping pledged $60 billion in financing for Africa and wrote off some debt for the continent’s poorer nations. [nL3N1VP28R]



Western critics say the Chinese funding is saddling the continent with unsustainable debt, but Beijing denies it is engaging in “debt trap” diplomacy. [nL3N1VQ2CD]



Reporting by Kiyoshi Takenaka; editing by Darren Schuettler

Here’s how Japan plans to drive Africa investment

LAGOS (Reuters) &#8211; Nigeria’s central bank has told lenders to stop processing milk imports on a credit basis, bankers said on Tuesday, after the bank last month said would ban access to foreign currency for the imports to spur local production.



Nigeria spends between $1.2 billion to $1.5 billion annually to import milk, the central bank says, which said in July it would add milk imports to its restricted list for dollar sales. The bank did not say when the ban comes into force.



In a circular to lenders, the central bank said milk imports will no longer be eligible under payment terms known as “bills for collection” which allowed the importer to buy on credit. Importers would need to fund their naira accounts and open letters of credit, bankers said.



Bankers said the central bank wanted to streamline payment modes for milk imports.



Industry groups had been lobbying the government against the bank’s planned dollar curb, arguing that domestic milk production was not enough to meet local demand.



Nigeria relies on imports for most of what its 180 million population consumes. In 2015, the central bank restricted access to forex for 41 items which it said can be produced in Nigeria.



The central bank has said the idea to add milk to the forex restriction list arose from the success of the currency restriction policy and the large amount spent on imports.



Last month the bank said it would extend low-interest loans to local milk producers to discourage imports.



Keen to reduce imports of products that can be produced locally and to conserve dollar reserves, the bank has also offered cheap credit to rice, tomato and starch importers for the same purpose.



Nigeria has been trying to shore up dollar liquidity on its currency markets and prop up the naira which has weakened in recent weeks after a fall in oil prices and foreign investors fled in the wake of lower yields on local debt.



President Muhammadu Buhari has made diversifying the economy away from oil a central policy, but a recent recession has slowed his plans, slashed government revenue and triggered a series of currency devaluations.



Buhari told the central bank this month to stop providing funding for food imports, his spokesman said.



Reporting by Chijioke Ohuocha; editing by David Evans

Nigeria’s central bank stops credit payments for milk imports, what you need to know…

CAPE TOWN (Reuters) &#8211; The South African government may be forced to inject more money into state power firm Eskom by the end of March next year, should the struggling utility fail to meet its borrowing plan, a National Treasury presentation to parliament said on Wednesday.



Treasury has already earmarked 59 billion rand ($3.9 billion) to Eskom over the next two financial years as part of a special appropriation bill, with 26 billion rand allocated until the end of March 2020.



“Failure to execute its funding plan may result in Eskom experiencing liquidity shortfalls at 31 March 2020 and require additional funding in addition to funding provided through the Special Appropriation Bill,” National Treasury’s director general, Dondo Mogajane, told lawmakers.



($1 = 15.2369 rand)



Reporting by Wendell Roelf; Editing by Alexander Winning

South Africa’s power utility Eskom may need more bailouts by the end of March 2020

By <a href="https://www.cnbc.com/ramit-sethi/">Ramit Sethi</a>



People have lots of reasons for not managing their money properly. A few of those reasons are valid, but most are just poorly veiled excuses for being lazy and not wanting to spend 10 minutes on research.



I’ve heard some blame the education system for not teaching them about money. It’s easy for people in their 20s to wish that their colleges had offered some personal finance training. But guess what? Most colleges&nbsp;do. You just didn’t take them!



The harsh truth is that you’re not victims. You’re in control of your own finances — and the sooner you internalize that, the sooner you can start to go on the offense.



The first step is to acknowledge some of the biggest money lies young people tell themselves:



<h2 class="wp-block-heading">1. “I need to focus on making passive income.”</h2>



To many millennials, passive income sounds like a dream. They hear about some guy who took a three-week vacation — while still continuing to earn money — and then say, “I can’t do that!” What they don’t see, however, is the amount of time and work it took to get there.



Most people, especially the young ones who are just entering the workforce, don’t need to focus on passive income. Instead, they should be putting more effort into improving their&nbsp;active&nbsp;incomes&nbsp;— by focusing on their careers. They can do this by sharpening their work skills, solving more problems for their bosses and basically out-hustling their co-workers.



A lot of people hate hearing this because it means that instead of fantasizing about earning a passive income of $500 a day, they actually have do some real work at their jobs.



I’ve also seen people who&nbsp;are&nbsp;hard workers, but are too afraid to ask for a salary increase because their “company doesn’t have the funds” or because “economy is bad.”



Why? Because it’s easier: If we accept a force that we believe is out of our control (like a “bad economy”) in dictating whether or not we get a&nbsp;<a href="https://www.cnbc.com/2019/05/17/dont-make-these-5-mistakes-when-negotiating-salary-says-self-made-millionaire-ramit-sethi.html" class="">get a raise</a>, we feel less pressure to put in the effort.



Solution: Put in the hours and get better at your job so you can earn more money. If getting a raise isn’t an option, find another job and&nbsp;<a href="https://youtu.be/CdbFwr1qcD4" class="">negotiate a higher salary</a>.



<h2 class="wp-block-heading">2. “If I just try harder, I can save more money.”</h2>



We all know we need to save money, the same way we know we need to exercise more, eat healthier and call our families regularly. But there are serious barriers to doing all these things.



Simply “trying harder” won’t help you succeed (there are even&nbsp;<a href="https://www.chronicle.com/article/When-Trying-Harder-Doesnt/136063" class="">studies</a>that will tell you the same thing).&nbsp;Trying&nbsp;to save money by buying the cheaper item isn’t enough.&nbsp;Trying&nbsp;to cut back on buying lattes won’t help, either.



In order to see results, you need to actually sit down and have a conversation with yourself about what needs to be done, step-by-step.



Take a look at your finances and ask yourself: What are you trying to do that takes a lot of effort, but for little gain? What’s not working no matter how hard you try? How can you make things easier for yourself?



Solution: <a class="" href="https://www.iwillteachyoutoberich.com/automate-your-personal-finances/">Automate your finances</a> so you’re not dependent on your willpower.



<h2 class="wp-block-heading">3. “I’m going to start keeping a budget.”</h2>



Most of us, at some point in our lives, will get motivated and decide: “Yes! I’m going to start keeping a budget!”



Creating a budget to cut down on your expenses is the sort of worthless advice that personal finance experts feel good prescribing to millennials. But the few people who actually attempt to budget completely fail after a few days because they eventually realize that it’s really difficult (and overwhelming) to track every penny they spend.



Also, more often than not, it doesn’t work because a budget tracks what you’ve already spent, and so when you look back at the end of the month, you feel horrible and guilty after realizing that you overspent. Budgets offer no forward-looking information.



Instead of keeping a budget, I recommend creating what I call a “Conscious Spending Plan,” a strategy that forces you to look to the future while also allowing you to&nbsp;<a href="https://www.iwillteachyoutoberich.com/blog/money-dials/" class="">spend extravagantly</a>&nbsp;on the things you love — as long as you cut costs mercilessly on the things you don’t love.



Solution: Create a Conscious Spending Plan by splitting up your income into four categories:



<ol class="wp-block-list"><li>Fixed costs: Rent, groceries, student loans, utilities, etc. (50% to 60% of your income)</li><li>Long-term investments: 401(k), Roth IRA, etc. (10% of your income)</li><li>Savings goals: Holiday gifts, vacations, down payment on a home, etc. (5% to 10% of your income)</li><li>Guilt-free spending: Dining out, movies, shopping, etc. (20% to 35% of your income)</li></ol>



By allocating your money this way, you can make sure you have enough to pay off all your responsibilities first. Then, any money left over can go towards your savings goals and everyday spending.



The guilt-free spending category allows you to buy what you want while knowing that your most important expenses are taken care of. (More on how to create a Conscious Spending Plan&nbsp;<a href="https://www.iwillteachyoutoberich.com/blog/budget-help/" class="">here</a>.)



<h2 class="wp-block-heading">4. “My friends earns less than me, yet they’re still able to go on four vacations every year!”</h2>



You friends are either highly skilled practitioners of Conscious Spending — or have absolutely no clue how to manage their money.



Think back to when you were a kid: How many times did you hear one of your parents ask the other: “Why can’t we go on vacations the way our neighbor does?” — without actually understanding how their neighbor’s spending breaks down. Chances are they’re not conscious spenders, but rather over-spenders.



Put another way, would you ask your friend who failed his English 101 class for grammar lessons? Hopefully not. So why would you look at your ordinary friends — who make ordinary money decisions and end up with ordinary results (a.k.a. not having enough money) — as role models?



Solution: Refocus your financial aspirations and strive to become like people who make conscious money decisions. Don’t follow the examples of those who show off by spending more than they have. If you suspect they can’t afford it, they probably can’t.



<h2 class="wp-block-heading">5. “I’m going to start investing.”</h2>



Ask any of your friends how much they’ve&nbsp;<a href="https://www.cnbc.com/2019/03/14/billionaire-warren-buffett-proves-successful-investors-always-ask-themselves-this-1-question-before-buying-or-selling.html" class="">invested in stocks</a>, and most of them will probably say they “don’t earn enough money” or “don’t have enough expertise” to do it.



According to a recent&nbsp;<a href="https://news.gallup.com/poll/233699/young-americans-wary-investing-stocks.aspx" class="">Gallup</a>&nbsp;poll, only 37% of young Americans ages 35 and under said they owned stocks between 2017 and 2018, compared to the 61% of people over the age of 35 did own stocks.



Opening an investment account gives you access to the biggest money-making vehicle in the history of the world — and you don’t have to be rich to do it. Many account providers will waive minimums (the amount required to open an account) if you set up an automatic monthly transfer.



So many people say they’re “going to start investing,” and then end up not doing it. Why? Because they don’t think they’re capable of understanding the basics and don’t want to risk losing their hard-earned money.



But for every day that you don’t invest, you’re&nbsp;<a href="https://www.cnbc.com/2019/05/15/self-made-millionaire-this-is-the-no-1-way-to-get-rich-ramit-sethi.html" class="">losing money</a>&nbsp;due to inflation — and you’ll never realize this until you’re in your 70s, at which point it’ll be too late.



Solution: Any new topic is overwhelming (i.e., diets, workout regimens, parenting). The answer isn’t to avoid it — it’s to pick a source of information to learn from and then actually start investing.



<h2 class="wp-block-heading">6. “Wanting to ‘get rich’ is bad.”</h2>



Obsessing over money and being consumed by greed is bad, but wanting a better future for you and your loved ones is anything but.



Having more money opens up an incredible amount of options for you and everyone around you. I’ve said this many times, and I’ll say it again: “Getting rich” isn’t just about money — it’s about living a rich life, and living a rich life might mean different things to different people.



For some, it means having the financial freedom to&nbsp;<a href="https://www.iwillteachyoutoberich.com/blog/money-dials/" class="">spend extravagantly on their hobbies</a>. For others, it means having the luxury of paying for a house cleaner every week.



For me, part of what living a rich life means is the ability to step away from my business for six whole months to go on my honeymoon.



Solution: Think about what living a rich life means to you and let that inspire you to take action in growing your money.



<a class="" href="http://iwillteachyoutoberich.com/">Ramit Sethi</a>, author of the New York Times best-seller ”<a class="" href="https://www.amazon.com/Will-Teach-You-Rich-Second/dp/1523505745">I Will Teach You To Be Rich, ”</a> has become a financial guru to millions of readers in their 20s, 30s and 40s. He became a self-made millionaire at a young age, thanks to his <a class="" href="http://www.iwillteachyoutoberich.com/">website</a> (which he started as a Stanford undergraduate in 2004), book and personal finance courses. 



This article first appeared on CNBC <a href="https://www.cnbc.com/2019/08/23/self-made-millionaire-6-biggest-lies-we-tell-ourselves-about-money.html">https://www.cnbc.com/2019/08/23/self-made-millionaire-6-biggest-lies-we-tell-ourselves-about-money.html</a> and is republished with its permission.

Self-made millionaire: 6 biggest money lies young people need to stop telling themselves

By <a href="https://theconversation.com/profiles/ernest-yeboah-acheampong-790269">Ernest Yeboah Acheampong</a>, <a href="http://theconversation.com/institutions/university-of-education-4021">University of Education</a> 

African footballers – like other players from developing countries – invariably earn sums of money far greater than their contemporaries back home.

On average, some African players in the elite leagues can <a href="https://www.tandfonline.com/doi/full/10.1080/17430437.2018.1551367">earn</a> between €15,000 and €100,000 or more as salaries. Those in leagues one, two and three can also earn around €10,000–50,000, €5000–20,000 and €2000–10,000. A few high-profile players earn more than €150,000 per month in prestigious European clubs.

As a result, there’s a great deal of pressure on players to show that they are spending some of what they earn back home. Some <a href="https://www.nber.org/papers/w14592">authors</a> have asserted that these professional footballers spend their earnings on conspicuous consumption, such as high-end imported goods. 

To get to grips with this perception I <a href="https://www.tandfonline.com/doi/full/10.1080/17430437.2018.1551367">examined</a> the effects of African migrant players’ “giving back” behaviour. I did this by analysing the various socioeconomic projects that they invest in in the communities they come from. 

As part of my study I interviewed former and current professional footballers in Europe to understand the rationale behind how they used their earnings and what investments they made in society. 

I found that some players invested in valuable projects like hospitals, schools, education, oil and gas businesses as well as football academies. This reflected what they termed as “giving back to the society”. 

My findings suggest that players who make investment contributions are demonstrating their social and cultural ties with families, relatives, friends, teammates and the communities where they might have started their football careers. 

<h2>The research</h2>

I developed a <a href="https://www.tandfonline.com/doi/full/10.1080/17430437.2018.1551367">database</a> of 1084 African professional players who are playing or had played in 30 different European leagues and other parts of the world. 

Most were from West Africa (58.3%), followed by North Africa (17.9%), Central Africa (17.34%), Southern Africa (4.7%) and East Africa (1.8%). 

The overseas leagues covered 44 African players for the 2012/2013 season. 

Five countries each from Southern and East Africa did not have professional players. This means that at the time of the research, they did not have any players plying their trade outside of their territories. These countries were Botswana, Lesotho, Malawi, Swaziland, Seychelles, Sudan, Eritrea, Tanzania, Djibouti and South Sudan. 

The interviews I conducted included speaking to former and current African professional players who have played in Europe and other parts of the world. Among them were Abedi Pele Ayew (Ghana), Emmanuel Eboue (Ivory Coast), Marcel Desailly (Ghana), Mike Alozie (Nigeria) Bouna Coundoul (Senegal), Samuel Eto&#8217;o (Cameroon), Reuben Ayarna (Ghana), Victor Wanyama (Kenya), Stephen Appiah and Asamoah Gyan (Ghana), and Chivuta Noah (Zambia). I interviewed 30 former and current African professional players that covered a period over five years – 2013 to 2018. 

The questions I asked were aimed at understanding how players used their resources from football, including money, and the rationale behind their decisions.

<h2>Where players came from</h2>

Most of the players I spoke to set out to pursue opportunities abroad because they had limited opportunities at home to support their professional aspirations and expectations. Nearly all came from financially deprived areas. This meant that they had to mobilise resources to support their careers at a formative stage.

This involved strategising to overcome the challenges with the contributions from significant others in the communities to become successful professionally abroad.

The study showed that players were able to mobilise resources from their families, friends, relatives, team mates and club officials. They had also been able to mobilise other kinds of support such as documentation, money, sport kits and gear. In addition, they had built social relations and networks via the societal support and contributions to help them achieve their professional status abroad. 

Eventually, when players became professional abroad and were being rewarded financially, some remitted in various ways to the country they came from. All of them remitted money which, according to the players, can be termed as an African culture.

<h2>Time to pay back</h2>

Players’ investment behaviour was classified according to the
type of projects they got involved in within the communities. This led to an appreciation of how and why they choose to do certain projects based on the support and resources they might have received from their communities. 

Players took very different investment initiatives. Some were purely economic; others had a more social dimension. Contributions from the players could be categorised into private investments, social enterprise investments and economic investments.

Contributions and assistance that constituted a form of “giving back” did not necessarily connote gifts and <a href="https://libcom.org/files/Mauss%20-%20The%20Gift.pdf">counter-gifts</a>. Instead, they served as a potential complement to support the efforts of local and regional growth. 

When deciding how to give back, the players considered those who had significantly contributed to their professional football careers. These included their families and extended families. Other factors that played a role were inter-generational obligations and non-familial actors. 

These investments into valuable social and economic initiatives in communities fulfilled two important functions. First, they enhanced local and regional developmental activities. Second, they helped safeguard the athletes’ post-playing career.<img loading="lazy" decoding="async" src="https://counter.theconversation.com/content/122414/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/ernest-yeboah-acheampong-790269">Ernest Yeboah Acheampong</a>, Lecturer, Health,Physical Education,Recreation and Sport (HPERS), <a href="http://theconversation.com/institutions/university-of-education-4021">University of Education</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/how-african-footballers-who-play-in-europe-spend-their-money-122414">original article</a>.

Here’s how African footballers who play in Europe spend their money

JOHANNESBURG (Reuters) &#8211; The Mozambican government formally launched an exchange offer for its defaulted 2023 Eurobond on Tuesday, seeking the consent of bondholders for a restructuring that would ease pressure on its strained public finances.



Mozambique said in May it had agreed a restructuring deal “in principle” with the majority of the holders of the dollar-denominated bond, one of the instruments at the centre of a hidden debt scandal that triggered a currency collapse.



In the exchange offer, Mozambique said settlement of the restructuring of the bond was expected to occur on Sept. 30, if the offer was approved by at least 75 percent of bondholders.



Reporting by Alexander Winning and Karin Strohecker; Editing by Alison Williams

Mozambique launches restructuring offer for 2023 Eurobond, what you need to know

LUSAKA (Reuters) &#8211; Zambia has introduced a cap on the price of maize to keep the staple food affordable, sparking protest from commercial farmers who accused the government of bringing back price controls.



Agriculture Minister Michael Katambo said on Sunday that millers, stockfeed manufacturers, chain stores and grain traders agreed in a meeting with the government to peg the price of maize at a maximum of 2,600 kwacha ($198.93) per tonne.



The price of maize meal, Zambia’s staple food, has in some cases doubled to 150 kwacha per 25 kg bag from 75 kwacha early this year.



Zambia’s 2019 maize production is expected to fall 16% to about 2 million tonnes from 2.39 million tonnes last year largely due to prolonged dry weather, Katambo said in May.



Katambo said on Sunday that the private sector panicked and rushed into the market thinking that there was not enough maize and this pushed up prices.



“Maize prices were rising every week because of this panic and the implication was that the mealie meal price was getting higher,” Katambo said, referring to maize meal.



Katambo said Zambia still had sufficient maize stocks and indications were that less than 1 million tonnes of maize had been bought from the 2 million tonnes the country produced.



“This price is not coming from the government but the private sector players who attended the meeting,” Katambo said.



In a statement on Sunday, the Zambia National Farmers’ Union (ZNFU), which represents commercial farmers condemned the cap, saying prices should be left to market forces.



ZNFU said its members were not invited to the gathering where the price was agreed and had called for an urgent meeting this week to discuss the decision.



($1 = 13.0700 Zambian kwachas)



Reporting by Chris Mfula; editing by Jason Neely

Here’s why Zambia has introduced a cap on the price of maize

KHARTOUM (Reuters) &#8211; Sudan needs $8 billion in foreign aid over the next two years to cover its import bill and help rebuild its ravaged economy after months of political turmoil, its new prime minister said on Saturday.



Abdalla Hamdok, sworn in three days earlier to head a transitional government after the ousting of veteran leader Omar al-Bashir, said up to another $2 billion of foreign reserves deposits were needed in the next three months to halt a fall in the currency.



The 61-year-old economist, who has worked for the U.N. Economic Commission for Africa, said he had started talks with the IMF and the World Bank to discuss restructuring Sudan’s crippling debt, and had approached friendly nations and funding bodies about the aid.



Mounting public anger over shortages of food, fuel and hard currency triggered mass demonstrations that eventually forced Bashir from power in April.



“We are in communication to achieve this,” Hamdok said in his first interview with a foreign media outlet. “The foreign reserves in the central bank are weak and very low.”



“However,” he said, “there won’t be a forced prescription from the IMF or the World Bank on Sudan.”



On the politically tricky topic of government subsidies for bread, fuel, electricity and medicine, Hamdok said any changes would only be made after “deep discussions” with the people.



“The people are the ones who will make the decision on this issue,” he said.



He also said he had been talking with the United States to remove Sudan from its list of state sponsors of terrorism &#8211; a designation which has left Khartoum isolated from most of the international financial system since 1993.



There was no immediate comment from the U.S. government, the IMF or the World Bank.



<h3 class="wp-block-heading">DEVALUED CURRENCY</h3>



Sudan has been in economic turmoil since it lost the bulk of its oil production in 2011 when South Sudan seceded after decades of civil war.



It has devalued the pound several times but not been able to halt the fall. One dollar currently fetches 65 pounds on the black market versus the official rate of 45.



“We will work to unify the exchange rate, and to manage the exchange rate using a flexible managed exchange rate,” Hamdok said, without going into details.



He said Sudan needed to restore trust in the banking system.



Hamdok, who studied agricultural economics, has also worked at the African Development Bank and most recently as a special advisor at the Trade and Development Bank in Ethiopia. He said Sudan needed to tap its agricultural potential.



Sudan is rich in agricultural resources but high taxes, corruption and mismanagement have held back investment in the sector for decades.



“We want to take the Sudanese economy from an economy based on consumption and imports to a productive economy, and stop exporting products such as livestock and agriculture as raw materials,” Hamdok said. “Instead, we will aim to process them so as to create added value.”



He also said he wants to focus on peace-building in a nation that has seen conflicts flare in multiple parts of the country, and endured a civil war that ended in the succession of the South.



“Stopping war, which represents 70% of the expenditure in the budget, will create a surplus that can be invested in production and particularly agriculture, livestock, and related industries,” he said.



Shortly after Bashir was ousted, the United Arab Emirates and Saudi Arabia pledged $3 billion in aid to Sudan, in the form of a $500 million deposit in the central bank, which Sudan has already received, as well as fuel, wheat, and medicine.



The generals who forced Bashir from power took over and then, after months of wrangling and further violent protests, agreed to set up a transitional body including civilians to pave the way to elections in three years time.



Many hope Hamdok can shepherd Sudan through the transitional period, but some opposition members and analysts worry that the power-sharing deal may fall short of expectations in a country where the military, backed by Islamists, has dominated for decades.



Writing by Nafisa Eltahir and Ulf Laessing; Editing by Andrew Heavens and Daniel Wallis

Why Sudan needs up to $10 billion in aid to rebuild economy

WASHINGTON (Reuters) &#8211; The U.S. Export-Import Bank said on Thursday its board intends to vote on a $5 billion direct loan for the development of a liquefied natural gas (LNG) project in Mozambique, the bank’s biggest export financing deal in years.



The government export lender said it has notified the U.S. Congress of the transaction, which will be ready for a final board vote in 35 days.



If approved, the transaction would support U.S. exports of goods and services for the engineering, procurement and construction of the onshore LNG plant and related facilities on the Afungi Peninsula in northern Mozambique.



EXIM said over the five-year construction period the financing could support 16,400 American jobs among suppliers in Texas, Pennsylvania, Georgia, New York, Tennessee, Florida and the District of Columbia.



It estimated interest and fee income from the transaction of more than $600 million from a consortium led by Occidental Petroleum Corp.’s recently acquired Anadarko Petroleum Co.



U.S. exports to supply the project, however, face competition from financing offered by foreign export credit agencies.



The project would be the single biggest financing deal since EXIM’s full lending powers were restored in May with the confirmation of three new board members. That ended a drought of nearly four years in which the bank could not approve loans and guarantees of more than $10 million due to a protracted fight in Congress over its future.



The bank, seen by some conservatives as providing taxpayer-backed “corporate welfare” and “crony capitalism,” was unable to finance major infrastructure projects like the Mozambique LNG plant and commercial aircraft built by Boeing Co. It needs Congress to renew its charter before Sept. 30 to keep operating.



U.S. President Donald Trump’s administration views the bank as a tool to boost U.S. exports in an increasingly competitive trade environment.



“This critical project is not only a win for American companies and workers, supporting over 10,000 jobs in the United States, but also for the people of Mozambique as well,” U.S. Commerce Secretary Wilbur Ross said in a statement.



EXIM said the Mozambique LNG project would begin to develop the Rovuma Basin, one of he world’s most extensive untapped reserves of natural gas, with a major impact on Mozambique’s economy.



Reporting by David Lawder; Editing by Dan Grebler

What you need to know about U.S. EXIM Bank seeking vote on $5 billion loan to LNG project in this African country

By <a href="https://theconversation.com/profiles/meron-teferi-taye-804226">Meron Teferi Taye</a>, <a href="http://theconversation.com/institutions/addis-ababa-university-2161">Addis Ababa University</a> and <a href="https://theconversation.com/profiles/ellen-dyer-804257">Ellen Dyer</a>, <a href="http://theconversation.com/institutions/university-of-oxford-1260">University of Oxford</a>

In July Ethiopians <a href="http://www.unenvironment.org/news-and-stories/story/ethiopia-plants-over-350-million-trees-day-setting-new-world-record">planted</a> 350 million trees in a single day. This was part of the country’s national <a href="https://pmo.gov.et/greenlegacy/">green legacy initiative</a> to counter environmental degradation and climate change. The initiative ultimately aims to grow 4 billion trees across the country.

Ethiopia has long struggled with land degradation problems in part caused by <a href="https://www.thegef.org/topics/land-degradation">unsustainable agricultural practices</a> – like <a href="https://link.springer.com/chapter/10.1007/978-3-319-19168-3_14">vegetation clearance and overgrazing</a>, among others. These pressures are increasing as the population grows.

Where water becomes scarcer due to climate change, <a href="https://www.longdom.org/open-access/climate-change-and-its-impact-on-land-degradation-imperative-need-to-focus-2332-2594.1000108.pdf">land degradation could worsen</a>. But what does the science tell us about the effects of climate change on water resources, and so on people and the economy, in Ethiopia?

Since 2015, the <a href="https://reachwater.org.uk/">REACH programme</a> – a global research programme to improve water security for the poor and in which we are involved – has attempted to answer this question. We focused on Ethiopia’s Awash River basin, one of the country’s most economically and socially important basins.

The basin represents about <a href="https://www.researchgate.net/publication/265483628_The_Water_of_the_Awash_River_Basin_a_Future_Challenge_to_Ethiopia">10% of the country’s land area</a>, and 17% of its total population. It is home to the capital city, Addis Ababa, and also plays a critical role for Ethiopia’s economy.

In Ethiopia, most studies on the effects of climate change on water resources focus on the Nile basin. Future projections also often lack consistency because of the differences in the models that are used. <a href="https://reachwater.org.uk/resource/climate-change-impact-on-water-resources-in-the-awash-basin-ethiopia/">Our research</a> aimed to develop better estimates of the effects of climate change on water availability in the Awash basin. We did this by using climate models that best represented the region’s characteristics. 

We found that, in the future, the basin will be hotter, drier and more water stressed. This could have severe consequences on human and economic development, highlighting the need for climate resilient policies to minimise impacts.

<h2>Water is crucial for people and the economy</h2>

In Ethiopia, rainfall and water availability are highly variable. The lack of water often impacts communities, industry and agriculture. Almost all food crops, and most industrial crops in Ethiopia, are <a href="http://www.fao.org/nr/water/aquastat/countries_regions/eth/ETH-CP_eng.pdf">produced by rain-fed agriculture</a>. Industrial crops alone contribute to <a href="https://www.undp.org/content/dam/ethiopia/docs/UNDP%20Ethiopia%20Fact%20Sheet%20-%20Agriculture%20Growth%20and%20Transformation%20-%20August%202014.pdf">85% of export earnings</a>.

In addition water is vital to electricity generation. Hydropower accounts for about <a href="https://www.hydropower.org/country-profiles/ethiopia">90% of Ethiopia’s electricity</a>. 

This high reliance on water means that Ethiopia is very vulnerable to water-related climate shocks – like water scarcity, drought and floods. <a href="https://reachwater.org.uk/resource/water-resources-extreme-events-awash-basin-economic-effects-policy-implications/">A modest 5% decrease in rainfall</a> could cause a 10% decrease in agricultural productivity and reduce the GDP derived from the basin by 5%.

The basin is already vulnerable. It often experiences floods and droughts. Besides, access to water is very geographically uneven, with rainfall and surface water being scarce downstream and relatively abundant in the highlands. To what extent would adding climate change to the mix worsen the situation?

<h2>Hotter and drier future</h2>

Using models that best characterise the basin, we projected future changes in temperature and precipitation. We then compared those to the historical average. Our climate projections suggest water stress will generally intensify in the future – although there are some spatial differences. Water availability will continue to decrease progressively until at least the end of the century.

These findings are particularly critical for the key irrigation period of April to June. During these months we find decreasing precipitation and increasing temperature will lead to lower water availability. 

These months are the peak irrigation period for both small-scale farmers and large-scale irrigators. Additionally, water allocation between hydropower and irrigators could be a source of conflict in the face of decreased water availability.

Finally, this will make water access more challenging for human needs such as drinking, sanitation and hygiene. This will be particularly true for poor and vulnerable communities, and those downstream.

<figure>
 <iframe loading="lazy" width="440" height="260" src="https://www.youtube.com/embed/A_w7odR1UAA?wmode=transparent&amp;start=0" frameborder="0" allowfullscreen></iframe>
 
 </figure>

<h2>Climate resilient policies</h2>

Developing climate resilient policies for allocating water, and planning for a reduced water availability, is ever more pressing. But incorporating climate information within management decisions is a complex task. This requires access to scientific information and a good understanding of the current and future hydroclimatic situation.

To support better water management and allocation policies, our research points to the need to:

<ul>
<li>Improve the accessibility of climate information and develop the capacity of staff in government and related institutions to be able to understand and use it for water management; </li>
<li>Sustainably develop additional water sources, such as groundwater, which could act as a buffer and supplement surface water supply;</li>
<li>Consider the needs of the poorest in the basin who are the most vulnerable to climate change.</li>
</ul>

Of course, decisions about how much water to allocate and to whom in a drier future will be politically challenging. They require effective management strategies, political will and investments and better stakeholder dialogue forums. Scientists will also need to work more closely with policy makers.

Ethiopia’s green legacy is a promising contribution towards tackling global climate change: trees can play an important role in removing atmospheric carbon dioxide. But can trees contribute to local climate adaptation and mitigate land degradation? 

This is a complex question and our view is that, for a country that will likely be hotter, drier, and more water stressed, climate resilient policies need to be grounded in robust science.

Alice Chautard, REACH Communications and Knowledge Exchange Manager, University of Oxford, contributed to the writing of this article.<img loading="lazy" decoding="async" src="https://counter.theconversation.com/content/121844/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/meron-teferi-taye-804226">Meron Teferi Taye</a>, Country Programme Manager, REACH: Improving Water Security for the Poor, <a href="http://theconversation.com/institutions/addis-ababa-university-2161">Addis Ababa University</a> and <a href="https://theconversation.com/profiles/ellen-dyer-804257">Ellen Dyer</a>, Postdoctoral researcher in African Climate Science, School of Geography and the Environment, <a href="http://theconversation.com/institutions/university-of-oxford-1260">University of Oxford</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/ethiopias-future-is-tied-to-water-a-vital-yet-threatened-resource-in-a-changing-climate-121844">original article</a>.

This East African country’s future is tied to water – a vital yet threatened resource in a changing climate

By <a href="https://www.cnbc.com/karen-gilchrist/">Karen Gilchrist</a>



<a class="" href="https://www.cnbc.com/search/?query=Artificial%20intelligence">Artificial intelligence</a> and <a class="" href="https://www.cnbc.com/cloud-computing/">cloud computing</a> are terms once reserved for the realms of science fiction. But, today, they’ve become an increasingly important — and lucrative — fixture of the employment landscape.



“Some of the top skills we’re seeing that are in great demand are artificial intelligence, big data, cloud computing,” Feon Ang, vice president for talent and learning solutions in Asia Pacific at professional networking site&nbsp;<a href="https://www.cnbc.com/quotes/?symbol=LNKD" class="">LinkedIn</a>.



The demand applies globally. However, it especially pertains to the <a class="" href="https://www.cnbc.com/2019/06/19/linkedin-these-are-the-most-in-demand-skills-jobs-in-asia-pacific.html">most sought-after skills in Asia Pacific</a>, which is currently suffering a “brain drain,” whereby talented workers are relocating overseas for better socio-economic prospects, Ang told CNBC’s “Capital Connection” Tuesday.



Tech skills should not be viewed in isolation, though — especially given the changing nature of technology.



By some measures, the average skill now lasts&nbsp;<a href="https://www.cnbc.com/2019/08/20/creative-skills-critical-to-protect-workers-from-automation-expert.html" class="">just six years</a>, which means that workers should be well-equipped with the skills to adapt to the changing work environment.



Such so-called soft skills include <a class="" href="https://www.cnbc.com/2019/06/21/future-of-work-these-5-traits-pose-the-biggest-skills-gap-linkedin.html">critical thinking, creativity, and problem solving</a>, noted Ang.



<div class="wp-block-image"><figure class="aligncenter is-resized"><img loading="lazy" decoding="async" src="https://www.cnbcafrica.com/wp-content/uploads/2019/08/CNBC-.png" alt="" class="wp-image-343463" width="436" height="526"/></figure></div>



Increasingly, employers and governments are looking at ways to prepare their workforce for such shifts in the jobs landscape.



Amazon&nbsp;<a href="https://www.cnbc.com/2019/07/11/amazon-plans-to-spend-700-million-to-retrain-a-third-of-its-workforce-in-new-skills-wsj.html" class="">announced last month</a>&nbsp;that it plans to invest $700 million to retrain a third of its workforce. Meanwhile, Democratic presidential hopeful Andrew Yang is&nbsp;<a href="https://www.cnbc.com/2019/08/19/andrew-yang-on-google-amazon-helping-pay-for-his-ubi-plan.html" class="">rallying support for a universal basic income</a>&nbsp;to help Americans cope with volatile future work prospects.



Non-profit organizations, such as international training academy&nbsp;<a href="https://www.womenwhocode.com/" class="">Women Who Code</a>, are also cropping up to address growing skills gaps.



Women Who Code provides training and support from women pursuing careers in tech specifically. But the firm’s CEO, Alaina Percival, told CNBC Tuesday that more companies should be providing training, regardless of whether or not their employees’ work is directly technical.



“This really needs to be done more broadly and it needs to be starting at even younger ages,” said Percival. “Every industry is becoming a technology industry. There aren’t enough highly skilled workers to fill the current market needs.”



However, the responsibility for picking up new skills also falls to individuals, said Ang.



She said the growing availability of free training courses has made accessing education much simpler.&nbsp;<a href="https://www.linkedin.com/learning/" class="">LinkedIn Learning</a>, for instance, hosts a wide range of video-based courses, she noted. Meanwhile, more than 10,000 free — or partially free — programs from&nbsp;<a href="https://qz.com/1437623/600-free-online-courses-you-can-take-from-universities-worldwide/" class="">a consortium of 800 universities are also available online</a>&nbsp;via a scheme called Massive Open Online Courses (MOOCs).



“It’s important for companies to continue to invest in their people so that they are upskilling and reskilling their people to keep up with the roles that are in demand,” said Ang.



“But, at the same time, people need to continue to invest in themselves and have a growth mind set,” she said.



This article first appeared on CNBC <a href="https://www.cnbc.com/2019/08/22/linkedin-ai-big-data-cloud-computing-among-top-future-tech-skills.html">https://www.cnbc.com/2019/08/22/linkedin-ai-big-data-cloud-computing-among-top-future-tech-skills.html</a> and is republished with its permission.

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What you need to know about Old Mutual’s plan to buy back $158 million more shares

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South Africa’s power utility Eskom may need more bailouts by the end of March 2020

Self-made millionaire: 6 biggest money lies young people need to stop telling themselves

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Here’s why Zambia has introduced a cap on the price of maize

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