MAPUTO (Reuters) &#8211; The United Nations will grant Mozambique and the Comoros Islands $13 million in emergency funds to help provide food and water and repair damage to infrastructure, the organisation said late on Sunday, after the second cyclone in a month slammed into the region.



Cyclone Kenneth crashed into the northern province of the southern African nation on Thursday just as it was recovering from Cyclone Idai that hit further south last month.



Idai, the worst tropical storm to hit the region in decades, moved into neighbouring Zimbabwe and Malawi, killing more than 1,000 people.



Weather experts are warning that Kenneth could dump twice as much rain on northern Mozambique as Idai did. It has already killed five people as it unleashed heavy rains and flooding that has seen rivers burst their banks and smash whole villages.



Cyclone Kenneth hit the northern Mozambican province of Cabo Delgado late on Thursday, flattening entire villages with winds of up to 280 kph (174 mph).



The World Bank estimates Mozambique and other countries affected by the tropical storm will need over $2 billion to recover.



Mozambique also faces a cholera epidemic after the cyclone wiped out water and sanitation facilities.



“This new allocation of Central Emergency Response Fund funds will help humanitarian partners to scale up the response to address the needs of those most vulnerable in the aftermath of Cyclone Kenneth”, said UN Humanitarian Chief Mark Lowcock in a statement.



Earlier in April The International Monetary Fund granted the southern African nation a $118.2 million credit facility.



Writing by Mfuneko Toyana; Editing by Toby Chopra

Mozambique to receive $13 million from UN for Cyclone Kenneth damage

By <a href="https://theconversation.com/profiles/seth-asare-okyere-279492">Seth Asare Okyere</a>, <a href="http://theconversation.com/institutions/osaka-university-1303">Osaka University</a>; <a href="https://theconversation.com/profiles/matthew-abunyewah-469315">Matthew Abunyewah</a>, <a href="http://theconversation.com/institutions/university-of-newcastle-1060">University of Newcastle</a>, and <a href="https://theconversation.com/profiles/stephen-kofi-diko-267891">Stephen Kofi Diko</a>, <a href="http://theconversation.com/institutions/university-of-cincinnati-1717">University of Cincinnati </a> 

Sub-Saharan Africa is already experiencing the realities of <a href="https://report.ipcc.ch/sr15/pdf/sr15_spm_final.pdf">a changing climate</a> – and the situation is only going to get worse. 

The reasons for this are complex. And they’re exacerbated by <a href="https://link.springer.com/chapter/10.1007/978-3-319-90975-2_6">deficits</a> in the region’s infrastructure, services and socio-economic dynamics. <a href="https://theconversation.com/policymakers-have-a-lot-to-learn-from-slum-dwellers-an-accra-case-study-96940">Urbanisation</a> is another major factor. The continent’s current urban population is only <a href="https://population.un.org/wup/Publications/Files/WUP2018-KeyFacts.pdf">43%</a> – but it’s rising fast. About <a href="https://unhabitat.org/wp-content/uploads/2016/02-old/Slum%20Almanac%202015-2016_EN.pdf">10 million</a> people move into towns and cities each year. 

It’s a <a href="https://link.springer.com/book/10.1007/978-3-030-04873-0?fbclid=IwAR3KjI_gCsdrsHPgkf1JIoXQqmyh1GhH_r8BZsEWi25Xj407h7rFKvxSIzI#toc">well established fact</a> that good climate change adaptation strategies can reduce urban areas’ vulnerability and strengthen cities’ resilience.

But there’s a problem. 

Global agendas acknowledge the critical role that urban adaptation plays towards sustainable development and poverty reduction. However, they <a href="https://citiesipcc.org/wp-content/uploads/2018/03/Informality-background-paper-for-IPCC-Cities.pdf">focus on</a> national governments and to a lesser extent urban governments. Citizens and civil society end up in subsidiary roles. This flies in the face of established <a href="https://onlinelibrary.wiley.com/doi/pdf/10.1002/eet.1795">evidence</a>: urban adaptation to climate change is more effective where local citizens participate and own the process.

How can this participation and ownership be nurtured? Our <a href="https://link.springer.com/chapter/10.1007/978-3-030-04873-0_14">research</a> examined the conditions that can support citizen 
led urban climate adaption in Sub-Saharan Africa through the lens of “<a href="https://www.taylorfrancis.com/books/e/9781134143191">machizukuri</a>”. This is a Japanese term which literally translates as “community building”. It sees <a href="https://www.taylorfrancis.com/books/e/9781134143191/chapters/10.4324/9780203961728-8">citizens and residents</a> take ownership of the issues that affect their local environment. 

We assessed Japan’s successful Machizukuri system to unearth the key principles needed to engage urban residents in climate adaptation in urban Africa. We found that there is potential for citizen-led urban adaptation in sub-Saharan Africa. Learning from the Machizukuri system, we can improve existing pockets of local activities, like tree planting and recycling, and identify new ones for climate adaptation.

<h2>The research</h2>

The Machizukuri system is considered to have <a href="http://www.usp.br/fau/iphs/abstractsAndPapersFiles/Sessions/36/WATANABE.pdf">emerged</a> from Japan’s citizen environmental movements in the 1960s and 1970s. 

In essence, this system underlines two critical points. First, that national governments must prioritise the role of citizens in urban climate adaptation. And second, the state should demonstrate commitment by actively working with citizens, community organisations and other stakeholders. 

By studying the system, we were able to draw out four key points. These could be considered by governments in sub-Saharan Africa that want to centralise the role of citizens in urban climate change adaptation. 

First, there’s the need for support networks and cooperation. Support networks include community groups or associations, civil society, local government, business organisations, researchers and professionals. Cooperation among these groups can strengthen technical support. It can also build local adaptive capacity and provide legitimacy to citizens’ role.

Secondly, urban climate change adaptation planning and processes must integrate existing citizen activities. This is crucial for legitimacy. It is a prerequisite to build trust and cooperation between communities and local government or related agencies. It also promotes a sense of value. Local people come to feel that their opinions and initiatives matter.

Thirdly, social capital in local areas could be harnessed to support citizens’ collective activities for urban climate change adaptation. Strong social ties and relationships in local urban communities can be highly beneficial. 

The <a href="https://www.sciencedirect.com/science/article/pii/S0305900612000803">Yasu city</a> of Shiga prefecture in Japan offers a good example. Its local government worked with the leaders of residents’ networks to draw attention to climate change issues and communicate with individuals within these networks. This made it possible for different residents’ groups to organise around various interest areas. They then initiated various environmental activities. These included restoring the city’s green areas, cleaning its rivers and encouraging recycling.

Harnessing social capital in this way also fosters collective organising. It keeps communities enthusiastic about what they’re doing.

Finally, the extent to which citizen-led urban climate change adaptation could be prioritised depends on the availability of resources – especially financial support. Access to regular finance is important for sustaining citizen-led urban climate change adaptation. Governments that are prepared to bring citizens on board in a meaningful way must also be willing to provide at least some of the money they need to be sustainable and successful.

<h2>Applications in Africa</h2>

There are already some examples of citizen engagement in climate adaptation in a few African cities.

<a href="https://theconversation.com/people-in-african-cities-are-taking-charge-of-their-water-supplies-and-its-working-91758">Malawi, Kenya, Tanzania and Zambia</a> are tackling seasonal drought and its effects by forming community networks and associations. In some cases, governments have noticed these initiatives and partnered with communities. They’ve provided technical and financial support to successfully implement the projects.

This suggests that the Machizukuri system, or variations of it, hold great promise for African cities. As Africa continues to <a href="https://cdkn.org/wp-content/uploads/2015/09/CDKN_Maputo-Mozambique_BP.pdf">experiment</a> with different ways to ensure adequate citizen engagement in climate adaptation, the Machizukuri system offers a useful blueprint. Citizen-led action can make all the difference for cities trying to adapt to the realities of climate change.<img loading="lazy" decoding="async" src="https://counter.theconversation.com/content/115726/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/seth-asare-okyere-279492">Seth Asare Okyere</a>, Assistant Professor, Division of Global Architecture, Graduate School of Engineering, <a href="http://theconversation.com/institutions/osaka-university-1303">Osaka University</a>; <a href="https://theconversation.com/profiles/matthew-abunyewah-469315">Matthew Abunyewah</a>, Sessional lecturer, School of Architecture and Built Environment, <a href="http://theconversation.com/institutions/university-of-newcastle-1060">University of Newcastle</a>, and <a href="https://theconversation.com/profiles/stephen-kofi-diko-267891">Stephen Kofi Diko</a>, Adjunct Instructor and PhD Candidate in Regional Development Planning, <a href="http://theconversation.com/institutions/university-of-cincinnati-1717">University of Cincinnati </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-a-japanese-system-can-help-african-cities-adapt-to-climate-change-115726">original article</a>.

Can this Japanese system help African cities adapt to climate change?

By <a href="https://www.cnbc.com/ryan-browne/">Ryan Browne</a> and <a href="https://www.cnbc.com/eustance-huang/">Eustance Huang</a> 





KEY POINTS



<ul class="wp-block-list"><li>The cryptocurrency market shed about $10 billion in value in the space of an hour late Thursday, CoinMarketCap data showed.</li><li>New York’s top lawyer alleges Bitfinex used at least $700 million from Tether’s cash reserves to cover up an $850 million loss.</li><li>Questions have arisen over whether Tether has enough dollar reserves to justify its token’s dollar peg and whether it was used to manipulate prices.</li></ul>



Cryptocurrencies fell amid reignited regulatory worries and questions around the legitimacy of so-called “stablecoin” tether.



The entire market shed about $10 billion in value in the space of an hour late Thursday, CoinMarketCap data showed. This after the New York attorney general&nbsp;<a href="https://ag.ny.gov/press-release/attorney-general-james-announces-court-order-against-crypto-currency-company-under" class="">accused</a>&nbsp;the operator of bitcoin exchange Bitfinex and tether issuer Tether Limited of hiding an $850 million loss.



The state’s top lawyer alleges Bitfinex used at least $700 million from Tether’s cash reserves to cover up the apparent loss of $850 million of client and corporate funds. Its findings were detailed in papers filed with the Manhattan Supreme Court.



Tether is a cryptocurrency that is meant to be pegged to the U.S. dollar — otherwise known as a stablecoin. Worries have been raised over whether Tether Limited holds enough dollars to back all the tokens in circulation.



The price of&nbsp;<a href="https://www.cnbc.com/quotes/?symbol=BTC=" class="">bitcoin</a>, the world’s largest cryptocurrency, has fallen 4% over the last 24 hours, according to industry website CoinDesk. In the same time period, the prices of ethereum and XRP — the world’s second and third-largest virtual currencies by market value — also dropped 6% and 3%, respectively. Tether’s price fell over 1%, coming off its dollar peg.



The attorney general’s office said Thursday that Bitfinex handed $850 million to a Panama entity called Crypto Capital without disclosing it to investors. Executives at Bitfinex and Tether then allegedly “engaged in a series of conflicted corporate transactions” — where Bitfinex gave itself access to Tether’s cash reserves.



“Those transactions — which also have not been disclosed to investors — treat Tether’s cash reserves as Bitfinex’s corporate slush fund, and are being used to hide Bitfinex’s massive, undisclosed losses and inability to handle customer withdrawals,” the attorney general’s office said.



A court order issued by New York’s legal chief requires the operators of Bitfinex and Tether Limited to cease further losses of its U.S. dollar reserves. They are also barred from deleting or permitting others to delete potentially relevant documents and communications.Bitfinex’s response



Bitfinex said in response that the attorney general’s court filings were “written in bad faith” and “riddled with false assertions.” It flatly denied the alleged $850 million loss, stating the funds were “not lost but have been, in fact, seized and safeguarded.”



“Bitfinex and Tether have been fully cooperative with the New York attorney general’s office, as both companies are with all regulators,” the crypto exchange said in a <a class="" href="https://www.bitfinex.com/posts/356">statement</a> on its website. “The New York attorney general’s office should focus its efforts on trying to aid and support our recovery efforts.”



The company added that both Bitfinex and Tether are “financially strong,” and that it would challenge the order by New York.Why it matters



Tether is one of the most notable stablecoins on the market. It’s meant to be backed 1:1 by U.S. dollars to provide a stable value, and is often used as an alternative to government-backed money for crypto trading.



But it’s not been without controversy. Questions have arisen over whether it actually has enough dollar reserves to justify that dollar peg and whether it was used to&nbsp;<a href="https://www.cnbc.com/2018/06/13/much-of-bitcoins-2017-boom-was-market-manipulation-researcher-says.html" class="">manipulate bitcoin’s huge price spike</a>&nbsp;in 2017.



Charles Hayter, CEO of digital currency comparison firm CryptoCompare, said the New York fraud probe into tether was affecting the market. He said it creates a knock-on effect as tether is “so ubiquitous and so enigmatic.”



Cryptocurrencies have slumped massively from a monster rally in late 2017. Bitcoin, once worth almost $20,000, has fallen steeply to just under $5,300 as of Friday. It had a <a class="" href="https://www.cnbc.com/2019/04/02/bitcoin-rallies-14percent-to-its-highest-level-since-november-last-year.html">recent pop</a> last month that experts attributed to algorithm-driven trading.



This article was first published by CNBC <a href="https://www.cnbc.com/2019/04/26/cryptocurrency-bitcoin-price-falls-on-ny-ag-bitfinex-probe.html">https://www.cnbc.com/2019/04/26/cryptocurrency-bitcoin-price-falls-on-ny-ag-bitfinex-probe.html</a> and is republished with its permission.

Cryptocurrencies shed $10 billion in an hour on worries over ‘stablecoin’ tether

<figure>
 <img decoding="async" src="https://images.theconversation.com/files/269622/original/file-20190416-147508-yot3ep.jpg?ixlib=rb-1.1.0&#038;q=45&#038;auto=format&#038;w=754&#038;fit=clip" alt="File 20190416 147508 yot3ep.jpg?ixlib=rb 1.1" />
 <figcaption>
 Nigeria’s education system is under funded.
 Shutterstock
 </figcaption>
 </figure>

By <a href="https://theconversation.com/profiles/isaac-adebayo-adeyemi-710347">Isaac Adebayo Adeyemi</a>, <a href="http://theconversation.com/institutions/nigerian-academy-of-science-2114">Nigerian Academy of Science</a>

The level of funding of the education sector has been <a href="https://thepointernewsonline.com/?p=40771">recognised</a> as one of the major factors that contribute to quality education. This, in turn, determines growth and development of a country. It’s also been <a href="https://www.un.org/sustainabledevelopment/education/">acknowledged</a> that quality education determines the success in achieving the sustainable development goals. 

As Irina Bokova, the former Director General, UNESCO, <a href="http://www.aitonline.tv/post-UNESCO_demands_improvement_on_budgetary_allocation_for_education">said</a>: 

<blockquote>
Quality education, inclusive education, has to be among those for the post-2015 agenda because if we don’t put it with all the responsibility that is entrusted upon us we would not live up, in my view, to the expectations of the global community.
</blockquote>

In the last 40 years government funding in the education sector in Nigeria has varied between <a href="https://www.thisdaylive.com/index.php/2018/04/09/funding-of-education-in-Nigeria-below-UNESCO-recommended-benchmark-says-ministry/">6% and 9%</a> of the national budget. This is <a href="https://www.pmnewsnigeria.com/2018/11/19/budgetary-allocation-to-education-nigeria-ranks-20th-in-the-world/">lower</a> than most other African countries which range between 11% and 30%.

This meagre allocation is also expected to fund the country’s higher education system. 

At independence about 60 years ago Nigeria had only two tertiary institutions. These were Yaba Higher College (founded in 1934), now Yaba College of Technology and the University of Ibadan,Ibadan was initially a College of the University of London, founded in 1948. 

After independence in 1960, all Nigeria’s states were determined to make education accessible at all levels. This, plus <a href="http://www.worldometers.info/world-population/nigeria-population/">population growth</a> led to a significant increase in the number of tertiary institutions. 

By 2018, Nigeria had 160 <a href="https://campusbiz.com.ng/list-of-universities-in-nigeria/">approved universities</a>. These included 43 federal universities, 48 state universities and 79 private universities. In addition, there were 113 <a href="https://en.wikipedia.org/wiki/List_of_polytechnics_in_Nigeria">polytechnics</a> and 47 <a href="http://www.nbte.gov.ng/monotechnics.html">monotechnics</a> ,<a href="https://nigerianfinder.com/schools-of-health-in-Nigeria/">71</a> colleges of health technology, 153 <a href="https://net.nbte.gov.ng/IEIs">innovation enterprise institutions</a>, most of which are privately owned and 132 <a href="https://www.theinfostride.com/forum/index.php?topic=38258.0">technical colleges</a>. There were 82 <a href="https://wikivisually.com/wiki/List_of_colleges_of_education_in_Nigeria">colleges of education</a>,consisting of 22 federal, 46 under the state’s care and 14 privately owned.

It’s clear that the budget allocation can’t do justice to the needs of these institutions. If Nigeria is going to join the league of industrialised countries it needs to fund its education sector adequately. Most importantly, it needs to invest in solid infrastructure for teaching, research and national development. 

<h2>Funding</h2>

The main source of funding for Nigerian tertiary institutions has been annual budgetary allocations from the state and federal governments. To complement these allocations, the federal government established an education trust fund in 1993. This agency has been supporting government tertiary institutions under the <a href="http://www.tetfund.gov.ng/index.php/2-uncategorised/2-tetfund-act">Tertiary Education Trust Fund Act</a>. This imposes a 2% education tax on the profits of Nigeria’s registered companies.

The fund has played a significant role in promoting quality and education standards in Nigerian tertiary institutions. These funds have been used for:

<ul>
<li>construction and rehabilitation of buildings and laboratories, </li>
<li>procurement of teaching and research equipment, academic staff training and research development, </li>
<li>Capacity building and teacher training,</li>
<li>information and communication technology, and</li>
<li>infrastructure, including boreholes and electric power generators. </li>
</ul>

Fees and levies are another source of income. For government-owned institutions, the <a href="http://www.pulse.ng/communities/student/free-education-if-you're-a-federal-university-student-tuition-fee-is%20now-illegal-in/1y15gsz.amp#referrer=https%3A%2F%2Fwww.google.com&amp;_tf=From%20%251%24s">directive</a> is not to charge tuition fees but to impose levies. The levies are approved by each governing council. This means that they vary from institution. 

Private institutions <a href="https://nigerianprice.com/school-fees-of-private-universities-in-Nigeria/">rely substantially</a> on tuition fees and other levies. These also vary from institution to institution. They are also substantially higher than those charged in public institutions.

Another source of revenue is internally generated income. Institutions are expected to generate additional income from grants, donations and other fund raising initiatives. But this has proved to be an <a href="http://www.abuad.edu.ng/funding-of-universities-in-nigeria-attitude-of-nigerians-to-giving">uphill battle</a>. Nigeria has a poor culture of donations because of the belief that the government is responsible for providing free education at all levels.

<h2>Fixing the problem</h2>

The first major step to fixing Nigeria’s tertiary education problems would be to <a href="https://www.legit.ng/1218432-asuu-insists-15-allocation-education-sector-strike.html">increase</a> budgetary allocations to between 11% and 15%. 

I don’t believe that raising fees is a sensible road to take. Instead, the government should reintroduce scholarships, bursaries, grants and loan schemes, as was the case before the oil boom. 

Another shortfall in Nigeria’s higher education sector is a lack of research grants. The public and private sectors have to create an enabling environment and work together with the higher education sector to achieve the country’s development goals. This is the path taken by developed countries. 

Another major hurdle that will need to be cleared is relations with labour unions, in particular the Academic Staff Union of Universities.

<h2>The role of private institutions</h2>

I also believe that private higher education institutions have a significant role to play in the delivery of quality education and national economic development. They have to be supported. While I was the chairman of the Committee of Vice-Chancellors and Registrars of Private Universities in Nigeria between 2014 to 2016, the committee proposed that private universities should also benefit from the Tertiary Education Trust Fund. 

This money would be used for staff development and research. Loans, at single digit interest rates, could be provided for infrastructural development. 

These recommendations were based on the believe that these institutions have the capacity to increase enrolment and cater for an increasing number of people seeking admission. This would also mean that thousands of students would no longer have to leave the country to pursue their studies elsewhere.

Unfortunately, the law that lead to the establishment of the Tertiary Education Trust Fund doesn’t accommodate private institutions. This needs to be amended. 

<h2>In conclusion</h2>

It is apparent that Nigeria has failed to deliver quality education due to poor funding of the education sector and rising costs of education, among other factors. 

There must be a methodical approach to improving education funding for Nigeria to achieve the sustainable development goals. The funds must be used appropriately and there must be accountability across the board.<img loading="lazy" decoding="async" src="https://counter.theconversation.com/content/114240/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/isaac-adebayo-adeyemi-710347">Isaac Adebayo Adeyemi</a>, Professor, <a href="http://theconversation.com/institutions/nigerian-academy-of-science-2114">Nigerian Academy of Science</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/nigerian-universities-are-suffering-from-neglect-why-this-should-stop-114240">original article</a>.

Nigeria’s higher education sector  faces a number of issues, here’s what the West African country can do to fix it

MAPUTO (Reuters) &#8211; Another tropical cyclone is expected to make landfall on Mozambique’s coast on Thursday, just over a month after a more powerful storm struck the Mozambican port city of Beira further south and killed hundreds of people.



Weather forecasters say Cyclone Kenneth will bring heavy rainfall, strong winds and waves of several metres to the southern African nation, which is still reeling from the effects of devastating Cyclone Idai.



International energy companies such as Exxon Mobil have been developing huge natural gas fields off the coast of northern Mozambique.



“It’s going to make landfall tomorrow afternoon in Cabo Delgado (province), on the northeastern coast of Mozambique, and it is going to be a cyclone with wind speeds which could be 140 km per hour (87 miles per hour),” said Jan Vermeulen, from the South African Weather Service.



A cyclone report issued by a regional cyclone-monitoring centre on the French island of La Reunion said parts of southern Tanzania could also be affected by Cyclone Kenneth.



Authorities in southern Tanzania ordered evacuations of residents from low-lying areas and the closure of some schools and offices before the cyclone makes landfall on Thursday.



“We’ve decided to evacuate all residents of valleys and other low-lying areas, and we advise them to seek refuge at public spaces,” Mtwara regional commissioner Gelasius Byakanwa told reporters.



Mozambique’s National Institute of Disaster Management said that about 682,500 people could be at risk from the storm in the northern Cabo Delgado and Niassa provinces. About 112,000 people were in areas where winds could be in excess of 120 km per hour, it said.



The rivers Rovuma, Messalo, Montepuez, Megaruma, Lurio and coastal waterways in Cabo Delgado and Nampula provinces could overflow, affecting more than 70,000 people, according to a separate presentation from the National Directorate for the Management of Water Resources.



The directorate issued a recommendation that people living in areas at risk should move immediately to high ground, while disaster management official Augusta Maita said warnings were being broadcast in local media.



The International Federation of the Red Cross said its volunteers in northern Mozambique were alerting communities in areas where concerns of flooding, erosion and landslides were high. The World Food Programme said it was working with other agencies and the Mozambican government on an emergency plan.



More than 1,000 people were reported killed by Cyclone Idai in Mozambique, Zimbabwe and Malawi.



That storm lashed Beira with wind speeds of up to 170 km per hour on March 14 and heavy rains prompted flooding which submerged entire villages. Mozambican health officials and international aid agencies have been battling cholera in the wake of the cyclone.



Reporting by Manuel Mucari in Maputo, Tanisha Heiberg and Emma Rumney in Johannesburg, and Stephanie Ulmer-Nebehay in Geneva; Writing by Alexander Winning; Editing by Gareth Jones

Mozambique expected to be hit with another cyclone, what you need to know

JOHANNESBURG (Reuters) &#8211; South Africa’s Gold Fields Ltd said on Thursday its quarterly bullion production increased by 10 percent with a recovery in production at its South Deep mine after a six-week strike.



Gold production for the quarter ended March. 31 rose to 542,000 from 490,000 ounces a year earlier.



“Gold Fields is now well placed to maintain a production profile of approximately 2 million ounces a year at our international operations in Australia, Ghana and the Americas over the medium to long term,” Chief Executive Officer Nick Holland said in a statement.



Reporting by Tanisha Heiberg; editing by Jason Neely

South Africa’s Gold Fields production up 10 % in Q1

By <a href="https://www.cnbc.com/michelle-fox/">Michelle Fox</a> 



If you want a more productive employee, give them a paid day off from work every week. 



That’s the philosophy of Andrew Barnes, founder of the New Zealand company Perpetual Garden. He tried the experiment last year, and the results made both Barnes and his employees happy. Now his workers enjoy a permanent four-day work week.



“This is all about working smarter, not working longer,” said Barnes, whose firm manages wills, trusts and estates.



“We have this perception that you’ve got to work five days a week, 9-5. What we are really talking about is changing how people are behaving when they are at the office,” he recently told CNBC’s “The Exchange. ”



In other words, less goofing off and more focusing on work. The idea is that employees give the company 100% productivity. They still get 100% of their salary, but only work 80% of the standard hours.



It’s a success because employees get the perk — and they concentrate more consistently on work during that time than their 9-5 counterparts do, suggests Barns.



Several studies back him up. According to a U.K. study done in 2017 by deals site Vouchercloud, the average employee spends two hours and 53 minutes each day working productively.



Separately, a 2018 survey by the Workforce Institute at Kronos found that more than half of full-time workers thought they could do their job in five hours a day if they didn’t have any interruptions. It polled 3,000 employees across eight nations.



Barnes is hoping other employers learn from his experience. He recently wrote a report that laid out his results and includes recommendations for how to implement a similar program.



However, he said many companies are “scared” to take the chance because they’ve been so conditioned about a five-day work week.



“What we’re saying is that if you engage with your staff, if you give them the opportunity to come up with ideas, if you say to them, ‘look, if you do things differently we will gift you this day off a week,’ what they do is they change how they behave at work,” he said.



“That improves the productivity and that delivers that much higher output, but at the same time gives you all the benefits of work-life balance, [and] a healthier, more loyal, more engaged staff,” he added.



Barnes is not alone in recognizing the benefits of a shorter work week. Last year, the Berlin-based project management company Planio introduced a 4-day work week for its small staff. The ad agency Grey New York, owned by WPP, also launched a program last year that allowed staff to work a four-day week for 85% of their full-time salary.



—Reuters contributed to this report.



This article was first published by CNBC <a href="https://www.cnbc.com/2019/04/23/a-4-day-work-week-results-in-more-loyal-more-engaged-staff.html?forYou=true">https://www.cnbc.com/2019/04/23/a-4-day-work-week-results-in-more-loyal-more-engaged-staff.html?forYou=true</a> and is republished with its permission.

Forget the 5-day work week—just 4 days results in ‘a healthier, more loyal, more engaged staff’

LAGOS (Reuters) &#8211; South African telecoms firm MTN has converted its Nigerian unit into a public company before its planned listing on the Nigerian bourse in the first half of the year.



MTN Nigeria said on Wednesday the conversion was a legal requirement to prepare for the listing and it was engaging with the Securities and Exchange Commission and Nigerian Stock Exchange.



“Our conversion to a Plc is a major step towards listing by introduction on the Nigerian Stock Exchange in the first half of 2019,” MTN Nigeria chief executive Ferdi Moolman said.



Nigeria is MTN’s biggest market, with 52.3 million users in 2017, and accounts for a third of the company’s annual core profit, but has proven problematic in recent years.



In December, MTN agreed to make a $53 million payment to resolve a dispute in Nigeria. The move ended a four-month multi-billion dollar dividend repatriation row that hammered its share price.



Moolman said last month he expected the listing on the Nigerian bourse to be “probably more towards April and May”.



The company expects to list the unit without raising money from investors immediately, and has said it would simplify its capital structure before the listing.



Reporting by Chijioke Ohuocha; Editing by Edmund Blair and Mark Potter

What you need to know about MTN converting its Nigerian unit to public company before planned listing

<figure class="wp-block-image"><img decoding="async" src="http://cnbc.africa/wp-content/uploads/2019/04/agriculture-13730152618Ej-1110x735.jpg" alt="" class="wp-image-335002"/><figcaption>Picture: Public Domain Pictures</figcaption></figure>



<h3 class="wp-block-heading">With Africa poised to have the largest workforce by 2035,
will we have enough food?</h3>



By <a href="http://cnbc.africa/?s=nnamdi+oranye">Nnamdi
Oranye</a> and Ryan Peter



I&#8217;m sure you know by now, but we&#8217;re at the dawn
of a new age. When you studied history at school, you probably (at least once)
wondered about what it might have been like to live in the dawn of the
industrial revolution, or the advent of the Renaissance, or perhaps even the
Tang dynasty in China, or some other key time period in human history. But in
generations to come, people will wonder what it was like to live in *your* time
period &#8211; the emergence of a new technological age; the time of the Fourth
Industrial revolution; the time when humanity and technology began to converge.



What will be the outcome? It remains to be seen.
There are a lot of alarmists out there, but when we look at the data, we&#8217;re
seeing the positives are far outweighing the negatives.



History shows us that this generally happens.
Think of what it must have been like at the beginning of the Agricultural
Revolution of the 18th century in Britain. This was a key time when
agricultural methods finally broke with the past, with new techniques and
scientific discovery led to better crop yields, greater diversity of crops, and
the ability to sustain more livestock. It was a huge contributor to Britain&#8217;s
growth, economy, and health, in particular. Farming suddenly became big
business, thanks to the invention of technology such as the horse-drawn seed
press, which made labour much less intensive and much more productive. Britain
actually progressed more rapidly than any other European country, despite its
smallness. The new methods meant more could be done on the same land than ever before.



<h2 class="wp-block-heading">Technology brings benefits &amp; social change </h2>



This Agricultural Revolution brought with it
major changes. The positive changes were obvious: food was more widely
available, could be sold for cheaper, and more people could sustain their
health. A healthy society is a more productive, happy society, which brings
with it all the benefits. Productivity and availability were all increased. But
it caused major social upheaval as well. In order to support the new methods of
farming, Enclosure Laws were passed, which limited the common land available to
small farmers. Wealthy lords soon swooped in and purchased public fields,
pushing out the small scale farmers, who migrated to the cities (and later
became the labor for new emerging industries in the Industrial Revolution).
Technology always brings with it tremendous benefits along with major social
change. 



Things are no different today. We&#8217;ve got the
emergence of Artificial Intelligence (A.I.) which is set to change everything &#8211;
and in numerous positive ways. The rise of self-driving farm vehicles is one
aspect in agriculture that is getting a lot of mainstream press. In the
Agricultural Revolution there was the horse-drawn seed-press, today there is
the computer-drawn seed press. But there is also a huge amount happening behind
the scenes with the advent of A.I. Machine learning models are being developed
to help both track and predict local weather and other environmental impacts,
or measure and predict soil quality. Access to the technology is also becoming
significantly easier.



<h2 class="wp-block-heading">The agriculture sector remains challenging</h2>



Nuru (Swahili for &#8220;light&#8221;), developed
by <a href="https://plantvillage.psu.edu/solutions">PlantVillage</a>
is an A.I. assistant that provides expert level farming knowledge to anyone who
has the app on their phone. It has learned to diagnose various diseases &#8211;
armyworm infections, potato disease, wheat disease, and others. Along with this
app, PlantVillage is looking to use drones that collect images and video and
help farmers to spot disease in their crops a lot easier. PlantVillage is even
looking to use satellite imagery to spot where crops are struggling. This is
being used in Africa today. A lot of this is making use of Tensorflow, which is
Google&#8217;s open sourced A.I. to help developers find solutions to real-world
problems. Just this week, Google opened its first A.I. lab in Ghana. The
company is clearly positioning itself as an A.I. company first and foremost. 



The Agricultural Sector remains one of Africa&#8217;s
most challenging sectors, but it is transforming quickly. In Sub-Saharan
Africa, it is projected to become a US$1 trillion industry by 2030, according
to <a href="https://www.pwc.co.za/en/press-room/tech-innovation-agribusiness.html">PriceWaterhouse</a>.&nbsp; With Africa to have the largest workforce by
2035, an increased healthy food production is absolutely key. We have to
challenge our traditional modes of thinking when it comes to farming. With so
much land available and so much new technology beginning to emerge,
agribusiness is sure to be good business looking forward.



We can&#8217;t go back. Technology has arrived, is
here to stay, and is ready to evolve along with us. Yes, it&#8217;ll bring societal
change. Yes, lawmakers will probably even make mistakes. Arguably, the
Enclosure Laws did help to create wide class gaps which the Industrial
Revolution exacerbated. But on the other hand, it also helped lift many others
out of poverty. The question for all of us is whether we will run ahead and
foresee the change coming, work with it, work with the players involved, and
guide it all towards greener pastures. 



Nnamdi Oranye
is an author and the CEO of Disrupting Africa, a research think-tank dedicated
to moving African innovation forward. He is the author of “<a href="https://www.amazon.com/Disrupting-Africa-Rise-African-Innovation-ebook/dp/B01EIG274S/ref=sr_1_2?keywords=nnamdi+oranye&amp;qid=1555507001&amp;s=gateway&amp;sr=8-2-spell">Disrupting
Africa: The Rise and Rise of African Innovation</a>” and “<a href="https://www.amazon.com/Taking-Silicon-Valley-Africas-Innovators-ebook/dp/B0759G581H/ref=sr_1_1?keywords=nnamdi+oranye&amp;qid=1555506964&amp;s=gateway&amp;sr=8-1-spell">Taking on
Silicon Valley: How Africa’s Innovators Will Shape its Future</a>”.



Ryan Peter
is a writer and the chief editor of the <a href="https://disruptingafrica.com/index.php?title=List_of_African_Innovators">Disrupting
Africa Encyclopedia</a>, which
has made it its mission to write the stories of Africa’s innovators and
entrepreneurs.

A.I. AgriBusiness is Good Business

JOHANNESBURG (Reuters) &#8211; More than 50 people were killed in southern and eastern parts of South Africa after heavy rains caused flooding and mudslides, authorities said on Wednesday.



Rescue workers were digging through collapsed homes and other buildings in coastal areas of KwaZulu-Natal province, where the death toll stood at 51, local officials said.



The region has been hit by heavy rains for days, but authorities did not anticipate the extent of the downpour late on Monday, said Lennox Mabaso, a spokesman for the provincial Cooperative Governance and Traditional Affairs department.



“As a result there was flooding and some structures were undermined and collapsed on people,” Mabaso said, adding some people were swept away by the water.



Multiple dwellings and houses collapsed in the mudslides, said KwaZulu-Natal Emergency Medical Services spokesman Robert McKenzie.



Some major roads in and around the port city of Durban were closed on Wednesday, local media reported.



Flooding also killed at least three people in the Eastern Cape province, state broadcaster SABC said on Wednesday.



President Cyril Ramaphosa will visit communities in both provinces, his office said on Twitter on Wednesday.



Last week, 13 people were killed during an Easter service in KwaZulu-Natal when a church wall collapsed after days of heavy rains and strong winds.



Reporting by Tanisha Heiberg and Olivia Kumwenda-mtambo; Editing by Alexandra Zavis and Janet Lawrence

Flooding in South Africa leaves 50 dead

<figure>
 <img decoding="async" src="https://images.theconversation.com/files/269588/original/file-20190416-147499-q95twj.jpg?ixlib=rb-1.1.0&#038;q=45&#038;auto=format&#038;w=754&#038;fit=clip" alt="File 20190416 147499 q95twj.jpg?ixlib=rb 1.1" />
 <figcaption>
 Young people view agriculture more positively than often assumed.
 Shutterstock
 </figcaption>
 </figure>

<a href="https://theconversation.com/profiles/thomas-daum-413470">Thomas Daum</a>, <a href="http://theconversation.com/institutions/university-of-hohenheim-2767">University of Hohenheim</a>

Africa has the youngest population of any continent – <a href="https://www.brookings.edu/blog/brookings-now/2019/01/18/charts-of-the-week-africas-changing-demographics/">60% are under age 25</a>. While this has evoked both hope and fear, it is clear that jobs are needed for the <a href="https://www.reuters.com/article/us-africa-agriculture-tech/africa-bets-on-technology-to-lure-youth-to-farming-idUSKCN1MD1Y6">12 million people</a> entering the workforce every year. 

Agriculture is <a href="http://blogs.worldbank.org/jobs/energy/africa-more-not-fewer-people-will-work-agriculture">best suited to provide a great many jobs</a> as it can <a href="http://www.fao.org/3/as290e/as290e.pdf">absorb</a> much labour, and because prospering farms trigger employment opportunities in the rest of the economy. But agriculture is <a href="https://www.sciencedirect.com/science/article/pii/S0305750X14001727">often unattractive for the youth</a>. 

To lure young people into farming, policymakers and development actors emphasise the need for modern technology, including <a href="https://www.reuters.com/article/us-africa-agriculture-tech/africa-bets-on-technology-to-lure-youth-to-farming-idUSKCN1MD1Y6">agricultural mechanisation</a>. But surprisingly little is known about the opinion of young people in rural areas. Few have asked them what farming and rural areas need to look like to be more attractive.

I conducted a <a href="https://research4agrinnovation.org/wp-content/uploads/2018/07/ZEF_WP_171.pdf">study in Zambia</a> and asked people in rural areas aged between 12 and 20 what would make farming attractive for them. I used two research methods to explore their aspirations and perceptions: interviews as well as drawing exercises.

The results show that young people find more positive aspects in agriculture than often assumed and that the attractiveness of farming doesn’t only hinge on modern technologies. While some technologies are needed, having diverse and sustainable farms, a healthy environment and an attractive rural life is equally important. 

<figure class="align-center ">
 <img decoding="async" alt="" src="https://images.theconversation.com/files/269616/original/file-20190416-147518-1x9t9kh.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" srcset="https://images.theconversation.com/files/269616/original/file-20190416-147518-1x9t9kh.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=600&amp;h=417&amp;fit=crop&amp;dpr=1 600w, https://images.theconversation.com/files/269616/original/file-20190416-147518-1x9t9kh.jpg?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=600&amp;h=417&amp;fit=crop&amp;dpr=2 1200w, https://images.theconversation.com/files/269616/original/file-20190416-147518-1x9t9kh.jpg?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=600&amp;h=417&amp;fit=crop&amp;dpr=3 1800w, https://images.theconversation.com/files/269616/original/file-20190416-147518-1x9t9kh.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;h=523&amp;fit=crop&amp;dpr=1 754w, https://images.theconversation.com/files/269616/original/file-20190416-147518-1x9t9kh.jpg?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=754&amp;h=523&amp;fit=crop&amp;dpr=2 1508w, https://images.theconversation.com/files/269616/original/file-20190416-147518-1x9t9kh.jpg?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=754&amp;h=523&amp;fit=crop&amp;dpr=3 2262w" sizes="(min-width: 1466px) 754px, (max-width: 599px) 100vw, (min-width: 600px) 600px, 237px">
 <figcaption>
 The ideal farm.
 Provided by author
 </figcaption>
 </figure>

<h2>The findings</h2>

Most of the people interviewed for the study were proud of the fact that they came from farming families that owned land and worked close to the nature. Ruth (15) expanded on this and said: 

<blockquote>
We do not pay for maize, land, water and fruits such as mangoes. We have nutritious food. 
</blockquote>

The respondents also commented on the attractiveness of the rural space. Asked where they want to live in the future, rural or urban, 53% preferred rural areas, because of their freedom and social networks. 

In contrast, urban life was often perceived as bad, characterised by road accidents, pollution, Satanism, thieves and drunkards. According to Talunsa (15) people are “poisoned by alcohol and fight”. 

Many also found farming unattractive, citing drudgery and weather dependence as reasons. They said they would rather aim for jobs with a regular salary such as teachers. Lozi (16) said: 

<blockquote>
I want to work with the government. Then I’ll get paid monthly. 
</blockquote>

Around half of the respondents preferred a future in urban areas rather than in rural areas. These respondents were “pulled” away from rural areas because they were attracted by the perceived positive sides of urban areas. But they were also “pushed” away from rural areas which they associate with a lot of challenges. These included the high labour burden and risks associated with farming. This is what some of the respondents said about these “push” factors:

<blockquote>
In the village, we always eat the same, beans and nshima, and we need to work hard.“ (Elina, 16)

In the village, you can be bewitched over small disputes and the fields are very small. I prefer to live in town.” (Jakob, 15).
</blockquote>

It’s important to note that the decision to reside either in a rural or urban area was rarely perceived as a lifetime decision. Respondents highlighted that one could work in town after harvest or for some years after school to save some money before returning to the village. 

<blockquote>
Some of my friends want to go to town but others want to stay. Of the ones who went, many came back after some years. (Alik, 14)

I want to raise some money in town but then I want to move back to my village. I will bring a tractor with me and cultivate a lot of land. (Raimond, 17)
</blockquote>

<h2>Making farming attractive</h2>

So what does farming need to look like to be attractive? 

The young people provided some direction on what they thought would make rural spaces more attractive. 

The most important factors were:

<ul>
<li>Modern technologies such as tractors and digital tools. But these shouldn’t be over emphasised. Low-tech solutions shouldn’t be neglected.</li>
<li>Non-material factors. Making agriculture attractive requires de-risking agriculture and promoting sustainable and diverse farms. These were clearly depicted in the drawings I’d asked the respondents to sketch of their ideal farm. The drawings typically showed highly diverse farms with trees, vegetables, fruits and animals. </li>
<li>Ensure healthy landscapes. Having a sustainable, pollution free environment was commonly mentioned as a key advantage of rural over urban life.</li>
<li>Rural areas must be <a href="http://gfpr.ifpri.info/?fbclid=IwAR3ZsgTg96WShUjLDf5mrTeP6F42-CTlDQdnQMSfaGoaeDLyYpTIIOL90QA">developed</a> in ways that go beyond just infrastructure. Social life and networks, which are still an asset in villages compared to cities, were also cited as important. This included networks of neighbours, relatives and friend and the communal celebration of traditions. </li>
</ul>

<h2>What next</h2>

Policymakers often highlight the need for modern technologies – including information, communication and technology – when discussing rural development. 

But the young respondents I spoke to emphasised more low-tech solutions such as increasing farm diversity, having water wells and using draught animals, which is already an advantage over manual labour.

This suggests that policymakers and development practitioners need to pay more attention to the actual aspirations of young people in rural areas to avoid well-intended but misguided policies. In addition, the findings suggest that there is a need for several policies to reflect several types of young people in rural areas.<img loading="lazy" decoding="async" src="https://counter.theconversation.com/content/115395/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/thomas-daum-413470">Thomas Daum</a>, Agricultural Economist, <a href="http://theconversation.com/institutions/university-of-hohenheim-2767">University of Hohenheim</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/what-young-zambians-have-to-say-about-making-farming-more-attractive-115395">original article</a>.

Young Zambians are looking for ways to make farming more attractive, what you need to know

By <a href="https://www.cnbc.com/sarah-berger/">Sarah Berger</a> 



The benefits of getting quality sleep are well-known and touted by moguls from&nbsp;<a href="https://www.cnbc.com/2017/04/21/why-jeff-bezos-makes-getting-8-hours-of-sleep-a-top-priority.html" class="">Jeff Bezos</a>&nbsp;to&nbsp;<a href="https://www.cnbc.com/2018/06/22/what-time-successful-people-to-go-bed.html" class="">Richard Branson</a>. And on Sunday’s episode of “Shark Tank” on ABC, Mark Cuban — who is&nbsp;<a href="https://www.cnbc.com/2019/03/19/mark-cuban-on-longevity-aging-and-what-he-does-to-stay-healthy.html" class="">interested in health and wellness</a>&nbsp;— was so impressed by an invention to help improve sleep, he invested half a million dollars.



The main purpose of the&nbsp;lightweight, breathable Somnifix mouth strips founder Nicholas Michalak pitched to the Sharks is to reduce or eliminate snoring and mouth-breathing at night. (The hypoallergenic adhesive strips are applied over the mouth and cause you to breathe through your nose, though there is a vent in case mouth-breathing is necessary.)



And that’s no small market: About 40 percent of adult men and 24 percent of adult women&nbsp;<a href="http://sleepeducation.org/essentials-in-sleep/snoring/overview-and-facts" class="">are habitual snorers</a>, which&nbsp;<a href="https://www.psychologytoday.com/us/blog/the-squeaky-wheel/201109/is-snoring-harming-your-marriage" class="">can take a toll</a>&nbsp;on relationships with sleeping partners and also cause a litany of&nbsp;<a href="https://www.webmd.com/sleep-disorders/snoring-basics" class="">health issues</a>. Plus, the strips are beneficial to non-snorers too, because nose-breathing has benefits like helping to achieve a deeper sleep,&nbsp;<a href="https://somnifix.com/pages/benefits" class="">according to the company</a>.



Cuban is especially impressed that Michalak and his family invested $1.4 million in the business, including running clinical studies of the product at Harvard Medical School.



“Good for you for doing that,” Cuban says. “Most companies won’t invest that, and they’ll just wing it.”



Michalak — who is seeking $500,000 in exchange for a 10 percent stake — also notes that Somnifix has nine granted patents and intellectual property protection in over 70 countries.



But Barbara Corcoran isn’t sold, and actually sees spending that much money on the product as a negative.



“Nick, I think you spent about twice as much money then you needed to to get this off the ground,” Corcoran says. “That always causes concern for me, in terms of financial judgement.”



She’s out, as are Daymond John (who says it isn’t for him), Lori Greiner (who is unsure of how the market will respond to the product) and Kevin O’Leary (who says the company doesn’t align with the other investments in his portfolio).



That leaves Dallas Mavericks owner Cuban, who asks whether a sports version of the strips is a possibility. Michalak agrees that proper breathing is important for performance and says the company is already working on an adhesive that doesn’t dislodge when it comes into contact with liquid, like sweat.&nbsp;



There’s just on caveat for Cuban: The product’s marketing materials read, “Your nose is for breathing and your mouth is for eating,” which “sucks,” according to Cuban. With Michalak willing to change the slogan, Cuban offers a non-negotiable $500,000 for 20 percent of the company and the deal is made.



This article was first published by CNBC <a href="https://www.cnbc.com/2019/04/22/shark-tank-cuban-invested-six-figures-in-invention-to-stop-snoring.html">https://www.cnbc.com/2019/04/22/shark-tank-cuban-invested-six-figures-in-invention-to-stop-snoring.html</a> and is republished with its permission.

‘Shark Tank’: Why Billionaire Mark Cuban invested $500,000 in this invention that helps stop snoring

NAIROBI (Reuters) &#8211; The Kenyan shilling weakened slightly against the dollar on Tuesday, driven by demand from the energy sector and merchant importers as trading resumed from Easter holiday, traders said. At 0945 GMT, commercial banks quoted the shilling at 101.45/65 per dollar, compared with 101.35/55 at Thursday’s close.



Reporting by John Ndiso; Editing by Hereward Holland

Kenya’s shilling weakens slightly against the dollar, here’s why

By <a href="https://www.cnbc.com/shawn-m-carter/">Shawn M. Carter</a> 



All eyes are on video-streaming giant Netflix, which faces new competition from&nbsp;<a href="https://www.cnbc.com/2019/04/15/what-a-1000-dollar-investment-in-disney-10-years-ago-would-be-worth-now.html" class="">Disney’s highly anticipated streaming platform,</a><a href="https://www.cnbc.com/2019/04/11/disney-plus-will-be-available-starting-november-12-for-6point99-a-month.html" class="">Disney+,</a>&nbsp;as it reported its<a href="https://www.cnbc.com/2019/04/16/netflix-reports-earnings-tuesday-after-the-bell.html" class="">&nbsp;first-quarter earnings</a>&nbsp;Tuesday.



Its stock fell more than 1% in after-hours trading, after closing with a&nbsp;<a href="https://www.cnbc.com/quotes/?symbol=NFLX&amp;amp;qsearchterm=netfli" class="">share price around $360</a>.



Still, investing&nbsp;<a href="https://www.nytimes.com/2007/01/16/technology/16netflix.html" class="">in early 2007</a>,&nbsp;<a href="https://media.netflix.com/en/about-netflix" class="">when Netflix first began streaming</a>, would have proved to be a good bet. A $1,000 investment made on Jan. 15, 2007, would be worth more than $110,000 as of midday April 16, 2019, according to CNBC calculations, fora total return of about 10,000%. Over the same period, the S&amp;P 500 was up just over 100%.



While the company’s stock took a slight dip after hours Tuesday, following its earnings release, it reported quarterly revenue that beat estimates and&nbsp;<a href="https://www.cnbc.com/2019/04/16/netflix-reports-earnings-tuesday-after-the-bell.html" class="">shares are up more than 34 percent</a>&nbsp;as of Tuesday’s close.



Many investors relayed optimistic messages early this week. In a note, analysts at banking firm KeyBanc <a class="" href="https://www.cnbc.com/2019/04/16/netflix-reports-earnings-tuesday-after-the-bell.html">seemed skeptical that new streaming competition could pose a significant threat</a>.



<figure class="wp-block-image"><img decoding="async" src="http://cnbc.africa/wp-content/uploads/2019/04/NFLX_chart-4.1555438177659.jpeg" alt="" class="wp-image-334850"/></figure>



CNBC: Netflix stock as of April 16, 2019



“While other services may carve out valuable add-on positions, we do not expect the launch of new services from Apple, Disney, AT&amp;T, or others to meaningfully impact Netflix,” they said. “We continue to view Netflix’s strategic positioning very favorably.”



Investment banking company Deutsche Bank&nbsp;<a href="https://www.cnbc.com/2019/04/16/deutsche-bank-buy-netflix-as-it-becomes-a-global-cultural-necessity.html" class="">raised its rating on Netflix shares from “hold” to “buy”</a>&nbsp;early Tuesday, saying the service is becoming more like a “platform” every day.



“Platform status brings network effects not available to peers and competitors,” analyst Bryan Kraft wrote in a note. “Specifically, this is making Netflix even more of a go-to destination when consumers want to watch something, and it means having Netflix is becoming more of a cultural necessity for people around the world. It also&nbsp;<a href="https://www.cnbc.com/2017/10/16/netflix-earnings-how-much-is-netflix-spending-on-content.html" class="">makes Netflix a magnet for talent</a>. ”



That means “consumers stay captive within the Netflix walled garden for significant amounts of time,” Kraft added. “Aside from pay TV, which is losing audience share, there are no other competing platforms that approach Netflix’s reach.”



Netflix had a&nbsp;<a href="https://www.cnbc.com/2019/02/13/netflix-will-double-subscribers-in-10-years-to-335-million-credit-suisse.html" class="">whopping 148 million total subscribers as of February</a>, and some analysts predict that number will grow to 335 million by 2028. By comparison, Disney+, which will&nbsp;<a href="https://www.cnbc.com/2019/04/11/disney-plus-will-be-available-starting-november-12-for-6point99-a-month.html" class="">officially start streaming mid-November</a>, expects&nbsp;<a href="https://www.cnbc.com/2019/04/12/disney-shares-are-surging-but-some-analysts-are-not-sold-on-the-streaming-service.html" class="">to reach 60 million to 90 million subscribers</a>&nbsp;by 2024.



While Netflix’s stock has shot up recently and has mostly done well over the years, though, any individual stock can <a class="" href="https://www.cnbc.com/2017/11/30/how-amazon-became-one-of-warren-buffetts-biggest-investment-regrets.html">over- or underperform</a> and <a class="" href="https://www.cnbc.com/2018/04/03/avoid-these-4-investing-mistakes.html">past returns do not predict future results</a>.



Not everyone is sanguine about the company’s prospects. While many believe Netflix’s platform won’t see major disruption thanks to Disney+,&nbsp;<a href="https://www.cnbc.com/2019/04/15/netflix-shares-look-risky-ahead-of-earnings-warns-technician.html" class="">shares fell a little more than 1%</a>&nbsp;following Disney’s announcement.



The “action obviously has nothing to do with anything other than a big competitor joining the ring, but what’s important here about Netflix is how poorly it’s been acting over the past one, two, three months and more,” analyst Carter Worth said on&nbsp;<a href="https://www.cnbc.com/options-action/" class="">CNBC’s “Options Action.”</a>



Worth, chief market technician at market research company Cornerstone Macro, acknowledged that Netflix’s stock is “one of the great winners of all time,” but added, “I think it’s risky to go into earnings long, at least full long. I’d reduce or buy puts or some other strategy to protect oneself.”



Disney+ will also be more affordable to consumers than Netflix, which&nbsp;<a href="https://grow.acorns.com/netflix-subscription-price-increase/?gsi=611kqv" class="">recently raised its prices</a>. Disney+ will start at $6.99 a month or around $70 a year for popular content such as the “Star Wars” franchise, as well as the original content it is spending heavily to produce. Netflix, which aimed to&nbsp;<a href="https://www.cnbc.com/2017/10/16/netflix-earnings-how-much-is-netflix-spending-on-content.html" class="">spend up to $8 billion on content last year</a>&nbsp;— including on original content — is priced at $13 per month for its standard plan.



Netflix also faces competition from streaming services by Amazon and Apple. However, some analysts at bank-holding company SunTrust say more streaming options could be a positive,&nbsp;<a href="https://www.cnbc.com/2019/04/12/netflix-is-falling-on-concerns-of-competition-from-disney.html" class="">causing consumers to “accelerate cord-cutting”</a>&nbsp;and focus on their favorites.



If you’re <a class="" href="https://www.cnbc.com/2018/10/11/when-the-stock-market-tank-dont-do-these-3-things.html">looking to get into investing</a>, seasoned investors such as Warren Buffett <a class="" href="https://www.cnbc.com/2017/05/17/warren-buffett-and-tony-robbins-agree-on-the-best-way-to-invest-your-money.html">suggest you start with index funds</a>, which hold every stock in an index, meaning they’re automatically diversified and tend to be low cost. Plus, because they fluctuate with the market, they’re typically less risky than picking individual stocks.



This article was first published by CNBC <a href="https://www.cnbc.com/2019/04/16/what-a-1000-dollar-investment-in-netflix-in-2007-would-be-worth-now.html">https://www.cnbc.com/2019/04/16/what-a-1000-dollar-investment-in-netflix-in-2007-would-be-worth-now.html</a> and is republished with its permission.

If you invested $1,000 in Netflix in 2007, here’s how much you’d have now

By <a href="https://theconversation.com/profiles/ishmael-munene-205098">Ishmael Munene</a>, <a href="http://theconversation.com/institutions/northern-arizona-university-764">Northern Arizona University</a>

Vice-chancellors of Kenya’s 33 public universities are demanding a three-fold <a href="https://www.universityworldnews.com/post.php?story=20190304130216137">tuition fee increase</a>. They <a href="https://www.universityworldnews.com/post.php?story=20190304130216137">point out</a> that the proposed fee increase will merely meet the actual cost of providing university education. 

Set 30 years ago, the current fee structure applies to all degree programmes irrespective of actual instructional cost. Over <a href="https://www.standardmedia.co.ke/article/2001231157/report-quality-of-kenyan-graduates-from-public-universities-wanting">49,000 students graduate</a> from public universities annually.

The proposed increase is a reflection of the changing landscape in financing university education in Kenya. The once financially healthy universities are in financial straits, putting in doubt their long-term sustainability.

Most public universities are unable to meet basic operating expenses such as salaries, pensions, health care, and maintenance of plant and equipment. The flagship University of Nairobi, for instance, has a debt of 1.6 billion Kenya shillings (US$16 million) in <a href="https://www.universityworldnews.com/post.php?story=20190213104207905">unpaid pensions and other statutory contributions</a>. The total <a href="http://dx.doi.org/10.6017/ihe.2019.97.10789">debt</a> of the 33 public institutions is around 110 billion Kenya shillings (US$1.10 billion). That’s equivalent to the state’s budgetary allocation over one year. The <a href="https://www.universityworldnews.com/post.php?story=20181129132142395">government spends</a> around 27% of its budget on education. Universities get around 100.3 billion (US$1.03 billion) compared to 200 billion (US$ 2 billion) for basic education. 

To manage the debt burden, universities have <a href="https://www.nation.co.ke/news/education/Amina-asks-varsities-to-lay-off-staff-in-cost-cutting-bid/2643604-4736934-78f8gwz/index.html">come under pressure to downsize</a> their bloated non-essential staff. They have also introduced a range of <a href="https://www.universityworldnews.com/post.php?story=20180824074737190">austerity measures</a>. The effect has been a decline in morale.

A tuition increase will provide much needed revenue to stabilise university finances. Universities are likely to use the extra funds in a number of ways. These could include improving the morale of both academic and administrative staff, improving the quality of instruction and better maintenance of plant and equipment.

But the proposed tuition increase comes with risks. A one-size-fits all raise fails to take into account the cost differential of various degree programmes. Medical, engineering and construction programmes, for instance, cost more than humanities and social sciences. Tuition fees should reflect these differences. If they don’t, under-investment in costly programmes will continue. 

In addition, the tuition increase shouldn’t happen in isolation. It should be matched with a commitment by the government to restore university funding to previous levels. This will ensure that a bigger burden of financing universities doesn’t fall on students. 

<h2>Diminishing revenue</h2>

The gloomy financial picture contrasts sharply with the healthy financial position that public universities enjoyed a decade ago. Then, universities had balanced budgets and even surpluses. 

In 2011, for instance, total revenues earned by universities through tuition fees, programme fees and other income generating activities slightly exceeded government funding. 

From 2010 to 2011 <a href="https://www.businessdailyafrica.com/corporate/Public-universities-revenues-hit-record-level/539550-1190922-nvump5/index.html">revenue growth</a> in the five top public universities ranged from 2% – 21%. 

There were a number of reasons <a href="http://dx.doi.org/10.6017/ihe.2019.97.10789">for the financial crisis</a>. These included diminishing revenue from privately-sponsored students who were a source much needed tuition revenues. Privately-sponsored students who did not attain the required high school graduation points to be awarded government scholarships. So they pay the full tuition in public universities. 

The other reasons included declining government funding, closure of satellite campuses, and more stringent supervision of high school examinations that has reduced the number of university applicants and, therefore, fewer university enrolments. 

In addition, poor financial management, and universities inability to develop robust income generating activities, and overall growth of the university institutions relative to demand have compromised university finances. 

The fee increase <a href="https://www.nation.co.ke/news/education/VCs-want-student-fees-increased-/2643604-4995414-10xygjp/index.html">proposal</a> doesn’t come close to covering the actual cost of a basic non-science degree. And universities argue that the fees aren’t enough meet the increasing costs of providing quality education and running the institutions.

<h2>Opportunity for reform</h2>

I believe that by simply introducing a blanket tuition increase without addressing the problems ailing the public university sector, the government is missing a golden opportunity for much deeper reform.

Increasing tuition fees without consolidation of the public university sector is throwing good money after bad. The government should face the fact that a good number of public universities were established to give the government political legitimacy because they were <a href="https://link.springer.com/article/10.1057%2Fhep.2012.18">established for political expediency</a> in 2012-2013. Quite a few operate under capacity.

In addition, the proposed tuition rate increase was arrived at without broad consultations with key stakeholders. The whole process has been administrator-driven. As a result, students have <a href="https://www.nation.co.ke/news/education/University-students-threaten-to-hold-demos-over-fees-/2643604-4998644-lq4i2gz/index.html">threatened</a> to go on strike while academics have <a href="http://dailyactive.info/index.php/2019/03/05/lecturers-reject-vice-chancellors-plea-to-increase-university-fee/">called for a review</a>. 

Another problem is that the vice-chancellors’ fee increase proposal comes with no safeguards to mitigate its effects on poor students. Students from disadvantaged backgrounds experience difficulties even with the current fee structure. Without a clear specification of financial aid programmes for vulnerable students, the fee proposal will only make a bad situation worse.

Any tuition fee increase needs to be undertaken in the wider context of reforming the financing of university education in Kenya. A knee jerk policy like the one proposed by the vice-chancellors leaves too many policy challenges unresolved.<img loading="lazy" decoding="async" src="https://counter.theconversation.com/content/115149/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/ishmael-munene-205098">Ishmael Munene</a>, Professor of Research, Foundations &#038; Higher Education, <a href="http://theconversation.com/institutions/northern-arizona-university-764">Northern Arizona 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/kenyas-universities-need-deep-reform-not-just-a-hike-in-fees-115149">original article</a>.

Why universities in this East African country are in need of deep reform

PRETORIA (Reuters) &#8211; South Africa’s economic growth will shrink by at least 1.1 percentage points in 2019 and there will be up to 125,000 job losses if nationwide electricity blackouts persist throughout the year, the central bank said on Wednesday. 



Ailing state utility Eskom switched out the lights across the country in February and March as low coal supplies, a severe cash crunch, and multiple failures at its ageing fleet of power stations throttled supply.



The debt laden state firm began by cutting supply by 1,000 megawatts before ramping up to 4,000 MW, leaving households in the dark and businesses across mining, manufacturing and retail unable to operate.



“Should these interruptions continue throughout 2019, it is likely to reduce growth by 1.1 percentage points,” the Reserve bank said in its Monetary Policy Review publication, the second for the year.



“Under these circumstances, employment is likely to be lower by an estimated 125,000 jobs, with around 48,000 jobs lost to the first shock and 77,000 to the second,” the bank said, referring to the mining and manufacturing sectors.



The review dimmed hopes for the economic rebound promised by President Cyril Ramaphosa and comes less than a month before national elections.



In its February budget the National Treasury forecast gross domestic product (GDP) expanding at 1.5 percent from 0.8 percent growth in 2018. At its policy meeting in March the central bank pushed down its growth forecast to 1.3 percent.



Bets of growth above 1 percent have helped the country cling on to its remaining investment grade credit rating from Moody’s.



Earlier this month the public enterprise minister said the government would help Eskom keep the lights on and resort to so-called stage 1 loadshedding – 1,000 MW of rolling blackouts – as a last resort.



But Eskom, burdened by debt of around 450 billion rand, said it needed more money in addition to the 69 billion rand bailout granted by the government, to keep the lights on.



That raised fears it may drag down growth and prompt Moody’s to downgrade the country’s sovereign rating to junk.



First quarter GDP data is only due in June, but indicators of private sector activity, business confidence, mining and manufacturing have already shown signs of a negative impact of the power cuts.



Reporting by Mfuneko Toyana; Editing by Susan Fenton and Emelia Sithole-Matarise

Why South Africa’s GDP growth is likely to shrink by 1.1 percentage points in 2019

<figure>
 <img decoding="async" src="https://images.theconversation.com/files/268687/original/file-20190410-2901-k2szwd.jpg?ixlib=rb-1.1.0&#038;q=45&#038;auto=format&#038;w=754&#038;fit=clip" alt="File 20190410 2901 k2szwd.jpg?ixlib=rb 1.1" />
 <figcaption>
 Human milk banks collect, pasteurise, test, store, and distribute donated breastmilk.
 NataBU/Shutterstock
 </figcaption>
 </figure>

By <a href="https://theconversation.com/profiles/elizabeth-kimani-murage-173579">Elizabeth Kimani-Murage</a>, <a href="http://theconversation.com/institutions/brown-university-1276">Brown University</a>

Kenya’s first human milk bank has opened at Pumwani Maternity Hospital. Moina Spooner, from The Conversation Africa, spoke to the team spearheading APHRC’s research efforts in the establishment of Kenya’s first milk bank.

How long has it taken to open? What were the biggest obstacles?

The process of establishment of human milk banking in Kenya started in 2016. It was spearheaded by the NGO <a href="https://www.path.org/">PATH</a>, in partnership with APHRC and Kenya’s Ministry of Health, among other partners. It was rolled out in two phases. 

During phase one <a href="http://aphrc.org/wp-content/uploads/2017/07/Human-Milk-Bank-Project-Briefing-Paper-APHRC.pdf">we assessed</a> people’s perceptions and acceptability of using donated human milk. We also looked at how feasible it would be to set a bank up. The results were encouraging. About 90% of participants were positive about it, 80% would donate their breast milk, and about 60% indicated that they would allow their children to be fed with donated human milk. 

A committee was also set-up to provide oversight and guidance on human milk bank work in Kenya. They were sent to South Africa to learn more about the human milk banking process. Finally, local strategies were developed. 

We are now in phase two of the project: the establishment of a pilot human milk bank in Pumwani Maternity Hospital. This includes the launch of a research project which examines its feasibility, effectiveness, acceptability and aims to estimate the cost of establishing an actual human milk bank in Kenya. 

There have been challenges. Being a new concept, there have been some logistical challenges, for instance some of the equipment wasn’t locally available so it took longer to get it all done and installed. 

There have also been concerns by some community members and health workers over the safety and quality of the donor human milk. 

However, we’ve had support from the government which has been critical in addressing the logistical challenges. Advocacy and communication activities are also being rolled out to create awareness on human milk banking and address any concerns. 

What is a milk bank and how does it work?

Human milk banks are facilities that systematically collect, pasteurise, test, store, and distribute donated breast milk. 

An effective system has many <a href="https://path.azureedge.net/media/documents/MCHN_strengthen_hmb_frame_Jan2016.pdf">operational processes</a> to ensure it provides safe, high quality donor milk. They start with screening and recruiting donors who must be healthy mothers with surplus milk beyond the needs of their own child’s. Donors must undergo health checks including tests that screen for HIV, syphilis, and hepatitis B and C. Diseases could be passed to children through breastmilk.

Donors must then express milk in hygienic conditions, after which the milk is pasteurised. This involves heating the milk in a water bath at 62.5°c for 30 minutes followed by rapid cooling. 

At the bank, the milk is frozen and stored at -20c. When needed, <a href="https://www.ncbi.nlm.nih.gov/pubmed/28103607">it’s thawed</a> to room temperature and issued to children who don’t have access to their own mothers’ milk. A prescription by a qualified health professional is needed for this. 

Why are they needed?

Although breastfeeding is the most natural and best way to feed infants, many babies may lack access to their mother’s milk. This could’ve happened for many reasons – maybe the mother is sick, hasn’t got enough breast milk or is dead. 

From our formative research, 44% of newborns in urban health facilities were separated from their mothers for varying periods of time. This ranged from less than an hour to more than 6 hours and even days after birth. Of these infants, only 14% were fed on mother’s own milk during separation. 36% of the newborns weren’t fed on anything during this period and an additional 23% were fed on formula or cow’s milk. 

When breastfeeding is not an option, the World Health Organisation (WHO) <a href="https://www.who.int/elena/titles/feeding_vlbw_infants/en/">recommends</a> donated human milk as a lifesaving alternative. Particularly for babies that were born early, have low birth weight, are orphaned, malnourished or are severely ill. 

<hr>

 
 
 Read more:
 <a href="http://theconversation.com/why-kenya-needs-to-adopt-milk-banks-to-reduce-infant-deaths-80755">Why Kenya needs to adopt &#8216;milk banks&#8217; to reduce infant deaths</a>
 
 

<hr>


<a href="https://www.ncbi.nlm.nih.gov/pubmed/24752468">Evidence</a> paints a very strong picture in favour of donated human milk over infant formula. It’s <a href="https://www.ncbi.nlm.nih.gov/pubmed/24752468">more effective</a> in reducing the risk of disease and infections – <a href="http://www.ncbi.nlm.nih.gov/pubmed/22371471">like</a> inflammatory bowel disease, leukemia and respiratory tract infections – in newborn babies and is <a href="https://www.ncbi.nlm.nih.gov/pubmed/16556615">better tolerated</a> by babies that are born prematurely. 

In the US and Brazil, the use of donated human milk was <a href="https://www.ncbi.nlm.nih.gov/pubmed/23241582">reported to reduce</a> the length of hospital stay for sick infants and save on the cost of health care. 

Given the benefits of using donated human milk over infant formula, the WHO has called for the global scale-up of human milk banks. These are expected to increase access to safe donor human milk.

Is this the first of many?

Although WHO recommends that the milk banks be set up, Kenya is just the second, after South Africa, to establish a human milk bank in sub-Saharan Africa – even though it is a pilot. 

We hope that human milk banking will be scaled up in Kenya and the rest of sub-Saharan Africa, using the evidence we generate from our research. 

Milka Wanjohi, Taddese Zerfu, Esther Anono and Eva Kamande from the African Population and Health Research Center contributed to the writing of this article.<img loading="lazy" decoding="async" src="https://counter.theconversation.com/content/115262/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/elizabeth-kimani-murage-173579">Elizabeth Kimani-Murage</a>, Research Scientist at the African Population and Health Research Center and Adjunct Assistant Professor, <a href="http://theconversation.com/institutions/brown-university-1276">Brown 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/kenyan-hospital-opens-human-milk-bank-a-rarity-in-sub-saharan-africa-115262">original article</a>.

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