By <a href="https://www.cnbc.com/anna-borges/">Anna Borges, Contributor</a> 



Our&nbsp;<a href="https://www.cnbc.com/2019/04/03/deepak-chopra-sanjay-gupta-simple-trick-to-training-your-brain-for-success-according-to-neuroscience.html">brains</a>&nbsp;are wired to make sense of things by drawing connections between thoughts, ideas, actions, and consequences. But sometimes, they can be straight up wrong, negative, or misleading.



Cognitive behavioral therapists call these instances&nbsp;<a href="https://psychcentral.com/lib/15-common-cognitive-distortions/" target="_blank" rel="noreferrer noopener">“cognitive distortions.”</a>&nbsp;These traps cause us to perceive reality differently than how it really is — and the&nbsp;<a href="https://www.cnbc.com/2020/01/13/mistakes-rich-and-successful-people-never-make-according-to-self-made-millionaires.html">most successful people</a>&nbsp;have learned how to recognize and avoid these errors in thinking at all costs.



While writing my book,&nbsp;<a href="https://theexperimentpublishing.com/catalogs/fall-2019/the-more-or-less-definitive-guide-to-self-care/" target="_blank" rel="noreferrer noopener">“The More or Less Definitive Guide to Self-Care,”</a>&nbsp;I researched and interviewed psychologists to learn how these thought patterns can get in the way of our health, happiness, and ability to past struggles and achieve our goals.



Here are some of the most common mental traps that hold us back from success — and how to overcome them:



<h2 class="wp-block-heading">1. Emotional reasoning</h2>



Mistaking our emotions as evidence for the truth is one of the most common mental traps we fall into.



Example: “I&nbsp;feel&nbsp;like my ideas are worthless, therefore I&nbsp;shouldn’t&nbsp;share them in this meeting.”



Emotional reasoning can often cause us to make poor choices. In his&nbsp;<a href="https://www.sec.gov/Archives/edgar/data/1018724/000119312516530910/d168744dex991.htm" target="_blank" rel="noreferrer noopener">2015 letter to shareholders</a>,&nbsp;<a href="https://cnbc.com/make-it/2019/05/03/dont-make-these-5-costly-mistakes-when-shopping-on-amazon-says-money-saving-bargain-expert.html">Amazon</a>&nbsp;founder&nbsp;<a href="https://www.cnbc.com/2019/04/05/amazon-billionaire-ceo-jeff-bezos-ask-yourself-these-12-questions-to-live-a-long-happy-life.html">Jeff Bezos</a>&nbsp;warned against the dangers of letting emotions overwhelm you when&nbsp;<a href="https://www.cnbc.com/2019/03/12/amazon-billionaire-jeff-bezos-explains-why-the-smartest-people-change-their-minds-often.html">making important decisions</a>, rather than taking a step back and trying to learn what you can about a problem.



“Some decisions are consequential and irreversible or nearly irreversible,” he&nbsp;<a href="https://www.sec.gov/Archives/edgar/data/1018724/000119312516530910/d168744dex991.htm" target="_blank" rel="noreferrer noopener">wrote</a>. “These decisions must be made methodically, carefully, slowly, with great deliberation and consultation.”



To combat emotional reasoning,&nbsp;<a href="https://www.psychologytoday.com/us/blog/evolution-the-self/201706/what-s-emotional-reasoning-and-why-is-it-such-problem" target="_blank" rel="noreferrer noopener">cognitive therapists</a>&nbsp;suggest asking yourself questions like, “What are the facts that support my emotionally-based determination?” Or, “Is it possible that my feelings are clouded by some bias that ought to be reevaluated?”



When you stop transforming your feelings into truths, you gain the logic and clarity that will allow you to make <a href="https://www.cnbc.com/2019/05/10/billionaire-warren-buffett-use-this-simple-test-when-making-tough-decisions.html">smarter decisions</a>.



<h2 class="wp-block-heading">2. Blaming</h2>



We engage in blaming when we hold others accountable for our own actions and feelings.



Example: On your way out to work, your cat escaped through the door. “Great,” you say. “Now I’m going to be late, and it’s the cat’s fault.”



We often blame others because it helps us “preserve our sense of self-esteem by avoiding awareness of our own flaws or failings,”&nbsp;<a href="https://www.psychologytoday.com/us/blog/fulfillment-any-age/201509/5-reasons-we-play-the-blame-game" target="_blank" rel="noreferrer noopener">according to Susan Whitbourne</a>, a Professor Emerita of Psychological and Brain Sciences at the University of Massachusetts Amherst.



But failing to take responsibility for the consequences of your own behavior means you’re not learning from your mistakes. And being able to grow through your experiences, especially the unpleasant ones, is crucial to success.



“Playing the blame game is irrational, and it stigmatizes the other party,” <a rel="noreferrer noopener" href="https://liberationist.org/how-to-stop-playing-the-blame-game/" target="_blank">says Gustavo Razzetti</a>, author of <a rel="noreferrer noopener" href="https://www.amazon.com/Stretch-Your-Mind-conquer-comfort-ebook/dp/B0797DZLQQ" target="_blank">“Stretch Your Mind.”</a> He <a rel="noreferrer noopener" href="https://liberationist.org/how-to-stop-playing-the-blame-game/" target="_blank">suggests</a> that practicing empathy can help you quit the habit of blaming. “Focus on understanding the other person. Try walking in his or her shoes. Get rid of the ‘right-wrong’ approach.”



<h2 class="wp-block-heading">3. Catastrophization</h2>



Many of us have fallen down the negative spiral of expecting disaster to strike, no matter what.



Example: The news reports that a storm is approaching. You start to imagine all the bad things that can happen: “What if my house gets destroyed?” “What if someone I love gets hurt?” “What if&nbsp;I&nbsp;get hurt?”



Fear, especially irrational fear, plays a big part in catastrophizing,&nbsp;<a href="https://www.medicalnewstoday.com/articles/320844.php" target="_blank" rel="noreferrer noopener">researchers have found</a>. But always anticipating the worst possible outcome is far from useful. In fact,&nbsp;<a href="https://www.ncbi.nlm.nih.gov/pubmed/25902153" target="_blank" rel="noreferrer noopener">studies</a>&nbsp;show that it can lead to anxiety and depression.



<a rel="noreferrer noopener" href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3330449/pdf/71.pdf" target="_blank">Psychologist Judith Beth</a>, best known for her work in cognitive behavioral therapy, <a rel="noreferrer noopener" href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3330449/pdf/71.pdf" target="_blank">recommends</a> listing the advantages and disadvantages of putting your time and energy into catastrophizing. Or, she says, it may help to play “devil’s advocate,” and list all the best-case (or even OK-case) scenarios. You may find yourself in a calmer, less anxious, and clearer state of mind.



<h2 class="wp-block-heading">4. Fallacy of fairness</h2>



In the fallacy of fairness, a person believes that every situation should be determined by what is fair.



Example: You’re bitter that your colleague got a promotion — and you didn’t. You complain to yourself that it isn’t fair: “She rarely shows up to work on time and I probably work much harder than her.”



But guess what? As you’ve probably been told several times as a child: Life isn’t always fair. When engage in the fallacy of fairness, you’re more likely to wind up&nbsp;<a href="http://www.byui.edu/counseling-center/self-help/stress-management/challenging-faulty-thinking#Fairness" target="_blank" rel="noreferrer noopener">feeling angry, resentful, or hopeless</a>.



<a href="http://www.byui.edu/counseling-center/self-help/stress-management/challenging-faulty-thinking#Fairness" target="_blank" rel="noreferrer noopener">Psychology professors at Brigham Young University-Idaho</a>&nbsp;suggest that&nbsp;<a href="http://www.byui.edu/counseling-center/self-help/stress-management/challenging-faulty-thinking#Fairness" target="_blank" rel="noreferrer noopener">stating your feelings as preferences</a>&nbsp;can help change the way you feel about a situation.



So instead of letting yourself be consumed by bitterness, tell yourself: “It would be nice to get a promotion, but I don’t always have control over that. Perhaps I can talk to my boss about how I can get one next year.”



<h2 class="wp-block-heading">5. Personalization</h2>



Personalization involves taking everything personally or assigning blame to yourself, without any logical reason.



Example: “My son got an ‘F’ on his final exam, and it’s all my fault. I should’ve spent more time helping him study.”



<a href="http://www.pacwrc.pitt.edu/curriculum/313_MngngImpctTrmtcStrssChldWlfrPrfssnl/hndts/HO15_ThnkngAbtThnkng.pdf" target="_blank" rel="noreferrer noopener">Psychologists</a>&nbsp;have found that personalization can lead to&nbsp;<a href="http://www.pacwrc.pitt.edu/curriculum/313_MngngImpctTrmtcStrssChldWlfrPrfssnl/hndts/HO15_ThnkngAbtThnkng.pdf" target="_blank" rel="noreferrer noopener">guilt, shame, and feelings of inadequacy</a>. To work through this cognitive distortion, take a step back and think about what part you played in the situation. Then consider how you might not be entirely to blame.



By looking at things from an outsider’s perspective, you may discover that there were a variety of factors at play, and that the outcome is not a direct reflection of you.



<a rel="noreferrer noopener" href="https://www.annaborgeswrites.com/" target="_blank">Anna Borges</a> is a writer, podcast host, mental health advocate, and author of <a rel="noreferrer noopener" href="https://theexperimentpublishing.com/catalogs/fall-2019/the-more-or-less-definitive-guide-to-self-care/" target="_blank">“The More or Less Definitive Guide to Self-Care.”</a> Her work has appeared in Cosmopolitan, The Outline, SELF, and more. She lives in Brooklyn, New York with her two cats. Follow her on <a rel="noreferrer noopener" href="https://twitter.com/annabroges" target="_blank">Twitter</a>.



This article was first published on CNBC <a href="https://www.cnbc.com/2020/01/15/5-mental-traps-successful-people-never-fall-for-according-to-psychologists.html">https://www.cnbc.com/2020/01/15/5-mental-traps-successful-people-never-fall-for-according-to-psychologists.html</a> and is republished with its permission.

Improperly appointed boards spell disaster for organisations

5 mental traps that successful people never fall for, according to psychologists

Embattled airline South African Airways is selling some of its fleet. In a tender document, the airline says it is selling nine Airbus A340-300 and a 600 model aircraft as well as 15 spare engines and 4 auxiliary power units for an unspecified amount. SAA is currently in business rescue and is waiting for R2 billion lifeline from the National Treasury to stay in operation into next month.



<div class="wp-block-image"><figure class="aligncenter size-large is-resized"><img loading="lazy" decoding="async" src="https://www.cnbcafrica.com/wp-content/uploads/2020/01/SAA-aircraft.png" alt="" class="wp-image-353625" width="764" height="560" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/01/SAA-aircraft.png 899w, https://cms.cnbcafrica.com/wp-content/uploads/2020/01/SAA-aircraft-300x220.png 300w, https://cms.cnbcafrica.com/wp-content/uploads/2020/01/SAA-aircraft-768x564.png 768w, https://cms.cnbcafrica.com/wp-content/uploads/2020/01/SAA-aircraft-80x60.png 80w, https://cms.cnbcafrica.com/wp-content/uploads/2020/01/SAA-aircraft-696x511.png 696w, https://cms.cnbcafrica.com/wp-content/uploads/2020/01/SAA-aircraft-572x420.png 572w" sizes="auto, (max-width: 764px) 100vw, 764px" /><figcaption> The National Treasury www.etenders.gov.za</figcaption></figure></div>

SAA_Wikimedia

SAA aircraft up for sale

JOHANNESBURG, Jan 16 (Reuters) &#8211; The United Nations World Food Programme said on Thursday that a record 45 million people in the 16-nation Southern African Development Community faced growing hunger following repeated drought, widespread flooding and economic disarray.



Southern Africa is in the grips of a severe drought, as climate change wreaks havoc in impoverished countries already struggling to cope with extreme natural disasters, such as Cyclone Idai which devastated Mozambique, Zimbabwe and Malawi in 2019.



Zimbabwe, once the breadbasket of southern Africa, is experiencing its worst economic crisis in a decade, marked by soaring inflation and shortages of food, fuel, medicines and electricity.



&#8220;This hunger crisis is on a scale we&#8217;ve not seen before and the evidence shows it&#8217;s going to get worse,&#8221; the WFP&#8217;s Regional Director for Southern Africa, Lola Castro, said in a statement.



&#8220;The annual cyclone season has begun and we simply cannot afford a repeat of the devastation caused by last year&#8217;s unprecedented storms.&#8221;



The agency plans to provide &#8220;lean season&#8221; assistance to 8.3 million people grappling with &#8220;crisis&#8221; or &#8220;emergency&#8221; levels of hunger in eight of the hardest-hit countries, which include Zimbabwe, Zambia, Mozambique, Madagascar, Namibia, Lesotho, Eswatini and Malawi.



To date, WFP has secured just $205 million of the $489 million required for this assistance and has been forced to resort heavily to internal borrowing to ensure food reaches those in need, it said.



In December, the United Nations said it was procuring food assistance for 4.1 million Zimbabweans, a quarter of the population of a country where shortages are being exacerbated by runaway inflation and climate-induced drought.



&#8220;Zimbabwe is in the throes of its worst hunger emergency in a decade, with 7.7 million people – half the population – seriously food insecure,&#8221; the agency said.



In Zambia and drought-stricken Lesotho, 20% of the population faces a food crisis, as do 10% of Namibians.



Castro said that if the agency does not receive the necessary funding, it will have no choice but to assist fewer of those most in need and with less.



(Reporting by Nqobile Dludla; Editing by Jon Boyle and Giles Elgood)

UN food agency says record 45 million people across Southern Africa face hunger

JOHANNESBURG, Jan 15 (Reuters) &#8211; South African telecoms company Telkom SA told unions on Wednesday it could cut up to 3,000 of more than 15,000 staff as it struggles with declining performance in fixed voice and fixed data services.



Like other African telecoms firms, Telkom, in which the government holds a stake of about 40%, is trying to keep pace with a surge in demand for the internet and data with growing smart phone usage.



It is also grappling with organisational and operational inefficiencies linked to fixed voice and data services, which require more staff to install, maintain and market, it said in a letter to unions seen by Reuters.



The telecom provider said it will consider voluntary severance and early retirement packages for employees affected by phase one of the job cut, which will affect employees at Openserve and the Consumer divisions from January to April.



The affected jobs include support employees, specialist, operational employees and supervisory and management levels in its wholesale division Openserve, the consumer unit as well as in its corporate centre.



The announcement comes two days after retailer Massmart Holdings, majority owned by U.S. retail giant Walmart , said it could cut up to 1,440 jobs under a plan to close some stores as it struggles to grow sales in a tough economy.



Telkom, which runs South Africa’s biggest fixed-line telecom network, is migrating customers to mobile voice and data as well as fibre, where it is one of the small players in a market dominated by Vodacom and MTN Group.



&#8220;The deterioration in the economic climate, increased operational, regulatory and competitive constraints, coupled with continuing rapid migration from fixed voice and data business have all had a major ongoing negative operational and financial impact on Telkom,&#8221; it said.



&#8220;For Telkom to survive the current and anticipated tough trading conditions, it is imperative to seek and implement measures which will drastically reduce costs, eliminate inefficiencies and improve operational and financial performance in the interest of securing its continued commercial viability and employment for the majority of the employees.&#8221;



Telkom said it wants a leaner structure in its Openserve and group IT division and a focused skills set in line with the new business demands of a mobile focused business. While in consumer, the unit needs to be more market driven and customer focused.



(Reporting by Nqobile Dludla; Editing by Susan Fenton and Elaine Hardcastle)

South Africa’s telecoms company Telkom could cut 3,000 jobs -letter to unions

DAVOS 2020 – WHY THE WORLD IS LESS COOL THIS YEAR. 



By Chris Bishop



Next week world leaders will meet at one of the coldest
spots on earth to discuss this divided planet’s burning issues that threaten
its very survival.



For years, the World’s Davos gathering has been around
issues of globalisation, the Fourth Industrial Revolution and artificial
intelligence. It is 50 years since the free market optimist Klaus Schwab
launched the gathering, in the Swiss ski village, aimed at bringing the world’s
economies closers.



The wags used to paint it as the great, good and the
powerful linking arms to sing: ‘We are the World.’ This year, the song of Davos
could be closer to a Bob Marley’s So Much Trouble in the World on the aptly
named album Survival.



As raging fires lay waste vast tracts of Australia – the
word is they won’t be doused until March – the World Economic Forum says the greatest
risk, in its 10 year outlook, is extreme weather destroying property and taking
life, followed closely by the failure to tackle climate change. Both lurk
beneath the glow of Australia’s ruinous bush fires.&nbsp; &nbsp;



The other greatest risks, according to 750 global experts
polled by WEF, are: environmental crime and mistakes, like radiation leaks and
oil spills; followed closely by the destruction of natural resources, tsunamis
earthquakes and geomagnetic storms. 



“The political landscape is polarised, sea levels are rising
and climate fires are burning. This is the year when world leaders must work
with all sectors of society to repair and reinvigorate our systems of
cooperation, not just for short-term benefit but for tackling our deep-rooted
risks,” said Borge Brende, President of the World Economic Forum. 



This is the second year running that that climate and
environment concerns top the list; one reason why issues like climate change
are shooting up news agenda in newsrooms around the world and causing companies
worldwide to rethink their investments. 



Aside from the fury of the elements, 2020 threatens to be a
dangerous and depressed year all round.



“The report forecasts a year of increased domestic and
international divisions and economic slowdown. Geopolitical turbulence is
propelling us towards an “unsettled” unilateral world of great power rivalries
at a time when business and government leaders must focus urgently on working
together to tackle shared risks’,” says the report.



The leaders of the South African delegation to Davos meet at
a plush hotel in Rosebank, Johannesburg, to set out their stall for yet another
pitch to the world for investors as the economy stalls with growth expected to
be less than one per cent this year.



As usual, the South Africans will be looking largely for
investors in heavy industry, tech and mining. Maybe the country – on of the
biggest polluters in Africa &#8211; should be looking to attract investment into
renewable energy to help avert climate change before the elements eat it for
breakfast. &nbsp;&nbsp;

These are the world’s greatest risks

JOHANNESBURG (Reuters) &#8211; South African retail sales rose 2.6% year-on-year in November following a revised 0.4% increase in October, Statistics South Africa said on Wednesday.



On a month-on-month basis, sales were up 3.1% and up 1.2% in the three months to the end of November compared with the same period last year, the statistics body said.



Reporting by Olivia Kumwenda-Mtambo; Editing by Alexander Winning

South Africa’s retail sales rose 2.6% year/year in November

By <a href="https://www.cnbc.com/jennifer-liu/">Jennifer Liu</a> 



The potential to work for a company from anywhere in the world has never been greater.



According to a&nbsp;<a href="https://www.shrm.org/hr-today/trends-and-forecasting/research-and-surveys/Documents/SHRM%20Employee%20Benefits%202019%20Executive%20Summary.pdf" target="_blank" rel="noreferrer noopener">report from the Society for Human Resources Management</a>, 69% of organizations allowed employees to work from home at least some of the time in 2019 — more than&nbsp;<a href="https://www.shrm.org/about-shrm/press-room/press-releases/pages/telecommuting-up-over-past-20-years.aspx" target="_blank" rel="noreferrer noopener">three times</a>&nbsp;the share of companies who allowed telecommuting 20 years ago.



Many remote workers are highly compensated (nearly a quarter earn&nbsp;<a href="https://www.cnbc.com/2019/09/17/owl-labs-state-of-remote-work-report-24-percent-of-remote-workers-earn-100k.html">$100,000 or more)</a>&nbsp;and they tend to be&nbsp;<a href="https://www.cnbc.com/2019/10/31/cebr-study-finds-remote-workers-get-105-hours-more-leisure-time-a-year.html">happier in their jobs</a>. A combination of factors, including improved worker satisfaction, greater productivity and more efficient use of company resources, are some reasons why the ability to work from just about anywhere is one of the&nbsp;<a href="https://www.cnbc.com/2019/12/18/buzzworthy-company-benefits-that-will-dominate-workplaces-in-2020.html">biggest workplace trends</a>&nbsp;to watch for in 2020 and beyond.



To determine which employers are leading the charge in this space, FlexJobs identified the&nbsp;<a href="https://www.flexjobs.com/blog/post/100-top-companies-with-remote-jobs-2020/" target="_blank" rel="noreferrer noopener">best companies to work for</a>&nbsp;to land a work-from-home job today.



The job listing site analyzed its database of over 54,000 companies and identified the ones that posted the highest number of remote jobs in 2019, suggesting they’ll continue to hire a large amount of remote workers in the new year. Jobs on the site can be advertised as being a either part-time or full-time remote work arrangement.



<h2 class="wp-block-heading">The companies that are hiring for remote workers, from tech to education</h2>



The No. 1 company hiring for remote workers is Appen, an Australian technology company that helps organizations develop machine learning and artificial intelligence products. While four of the top 20 companies on the list are international (China, India and Sweden are represented), the majority of companies are based in the U.S. and are largely concentrated in areas around Arizona (such as No. 4 Liveops) and California (such as No. 10 Williams-Sonoma).



Many roles within health care, computer and IT organizations can be done remotely, and these fields are well represented among the top companies filling remote jobs. These are also some of the largest and fastest-growing industries in the U.S., where&nbsp;<a href="https://www.cnbc.com/2019/11/07/the-industries-with-the-highest-share-of-open-jobs-how-much-they-pay.html">demand</a>&nbsp;and&nbsp;<a href="https://www.cnbc.com/2019/11/06/how-switching-careers-to-tech-could-solve-the-us-talent-shortage.html">pay</a>&nbsp;are strong, especially in today’s tight labor market.



Education companies also grew their remote workforce in the past year: Two e-learning companies, VIPKid and EF Education First, cracked the top 10.



“The most notable change we’ve seen over the past year is not so much the growth in the sheer volume of remote job listings, but the growth in the variety of remote job titles these companies are seeking to hire,” said Sara Sutton, founder and CEO of FlexJobs, in a statement to&nbsp;<a href="https://www.cnbc.com/make-it/">CNBC Make It</a>. “Companies are expanding the range of professional positions they’re allowing to work from home.”



According to FlexJobs,<a href="https://www.cnbc.com/2019/09/22/flexjobs-the-most-popular-remote-work-opportunities.html"> the most common job titles</a> for remote work are accountant, customer service representative, project manager, nurse and writer.



<h2 class="wp-block-heading">More companies are able to hire internationally</h2>



Global companies and those headquartered in high cost-of-living areas may be able to expand their talent pool by considering applicants who live in other parts of the country, and&nbsp;<a href="https://www.cnbc.com/2019/12/03/the-top-10-cities-in-the-world-for-expats-to-live-and-work-abroad.html">even the world</a>.



“The cost of living in many major U.S. cities is high and can be prohibitive,” Michelle Armer, chief people officer at job site CareerBuilder, told&nbsp;<a href="https://www.cnbc.com/make-it/">CNBC Make It</a>. “Broadly, we’re seeing people&nbsp;<a href="https://www.cnbc.com/2019/09/29/millennials-are-fleeing-big-cities-for-the-suburbs.html">move away from urban hubs</a>&nbsp;in favor of less popular areas where they can get more space for less.”



People who do their jobs from home, freelance or travel for work are increasingly leaving cities such as Los Angeles and San Francisco and taking their families — and jobs — to places including Denver and Boise, Idaho,&nbsp;<a href="https://www.wsj.com/articles/workers-are-fleeing-big-cities-for-small-onesand-taking-their-jobs-with-them-11567848600" target="_blank" rel="noreferrer noopener">according to The Wall Street Journal</a>.



Here are the top 20 companies, hiring hundreds of remote workers each.



<h2 class="wp-block-heading">1. Appen</h2>



Headquarters:&nbsp;Chatswood, New South Wales, Australia



Industry:&nbsp;Technology (machine learning and artificial intelligence)



<a href="https://www.flexjobs.com/jobs/telecommuting-jobs-at-appen" target="_blank" rel="noreferrer noopener">Remote jobs</a>:&nbsp;voice coach, linguist, web search evaluator, transcriber



<h2 class="wp-block-heading">2. Lionbridge</h2>



Headquarters:&nbsp;Waltham, Massachusetts



Industry:&nbsp;Software and business (language translation)



<a href="https://www.flexjobs.com/jobs/telecommuting-jobs-at-lionbridge" target="_blank" rel="noreferrer noopener">Remote jobs</a>:&nbsp;creative designer, social media assessor, project manager, scheduling assistant



<h2 class="wp-block-heading">3. VIPKid</h2>



Headquarters:&nbsp;Beijing, China



Industry:&nbsp;Education



<a href="https://www.flexjobs.com/jobs/telecommuting-jobs-at-vipkid" target="_blank" rel="noreferrer noopener">Remote jobs</a>:&nbsp;online English as a second language teacher



<h2 class="wp-block-heading">4. Liveops</h2>



Headquarters:&nbsp;Scottsdale, Arizona



Industry:&nbsp;Customer service



<a href="https://www.flexjobs.com/jobs/telecommuting-jobs-at-liveops" target="_blank" rel="noreferrer noopener">Remote jobs</a>:&nbsp;customer service representative, licensed insurance agent, health care resource specialist



<h2 class="wp-block-heading">5. Working Solutions</h2>



Headquarters:&nbsp;Dallas, Texas



Industry:&nbsp;Customer service



<a href="https://www.flexjobs.com/jobs/telecommuting-jobs-at-working_solutions" target="_blank" rel="noreferrer noopener">Remote jobs</a>:&nbsp;sales development representative, travel reservation specialist, corporate travel agent



<h2 class="wp-block-heading">6. Kelly Services</h2>



Headquarters:&nbsp;Troy, Michigan



Industry:&nbsp;Staffing



<a href="https://www.flexjobs.com/jobs/telecommuting-jobs-at-kelly_services" target="_blank" rel="noreferrer noopener">Remote jobs</a>:&nbsp;data entry operator, administrative assistant, software tester, data analyst



<h2 class="wp-block-heading">7. EF Education First</h2>



Headquarters:&nbsp;Cambridge, Massachusetts



Industry:&nbsp;Education



<a href="https://www.flexjobs.com/jobs/telecommuting-jobs-at-ef_-_education_first" target="_blank" rel="noreferrer noopener">Remote jobs</a>:&nbsp;language teacher, copywriter, content writer, college counselor, IT coordinator



<h2 class="wp-block-heading">8. SYKES</h2>



Headquarters:&nbsp;Tampa, Florida



Industry:&nbsp;Customer service



<a href="https://www.flexjobs.com/jobs/telecommuting-jobs-at-sykes" target="_blank" rel="noreferrer noopener">Remote jobs</a>:&nbsp;customer support agent, executive assistant, senior director of client management



<h2 class="wp-block-heading">9. Concentrix</h2>



Headquarters:&nbsp;Fremont, California



Industry:&nbsp;Business services



<a href="https://www.flexjobs.com/jobs/telecommuting-jobs-at-concentrix" target="_blank" rel="noreferrer noopener">Remote jobs</a>:&nbsp;sales and service representative



<h2 class="wp-block-heading">10. Williams-Sonoma</h2>



Headquarters:&nbsp;San Francisco, California



Industry:&nbsp;Retail



<a href="https://www.flexjobs.com/jobs/telecommuting-jobs-at-williams-sonoma" target="_blank" rel="noreferrer noopener">Remote jobs</a>:&nbsp;customer service agent, technical designer, copy manager



<h2 class="wp-block-heading">11. UnitedHealth Group</h2>



Headquarters:&nbsp;Minneapolis, Minnesota



Industry:&nbsp;Health care



<a href="https://www.flexjobs.com/jobs/telecommuting-jobs-at-unitedhealth_group" target="_blank" rel="noreferrer noopener">Remote jobs</a>:&nbsp;product director, medical director, health and wellness coach, call center nurse



<h2 class="wp-block-heading">12. LanguageLine Solutions</h2>



Headquarters:&nbsp;Monterey, California



Industry:&nbsp;Translation



<a href="https://www.flexjobs.com/jobs/telecommuting-jobs-at-languageline_solutions" target="_blank" rel="noreferrer noopener">Remote jobs</a>:&nbsp;interpreter, software engineer



<h2 class="wp-block-heading">13. TTEC</h2>



Headquarters:&nbsp;Englewood, Colorado



Industry:&nbsp;Business operations



<a href="https://www.flexjobs.com/jobs/telecommuting-jobs-at-ttec" target="_blank" rel="noreferrer noopener">Remote jobs</a>:&nbsp;Salesforce developer, software engineer, consultant, web developer



<h2 class="wp-block-heading">14. TranscribeMe</h2>



Headquarters:&nbsp;San Francisco, California



Industry:&nbsp;Information technology, translation



<a href="https://www.flexjobs.com/jobs/telecommuting-jobs-at-transcribeme" target="_blank" rel="noreferrer noopener">Remote jobs</a>:&nbsp;transcriptionist



<h2 class="wp-block-heading">15. Humana</h2>



Headquarters:&nbsp;Louisville, Kentucky



Industry:&nbsp;Health care



<a href="https://www.flexjobs.com/jobs/telecommuting-jobs-at-humana" target="_blank" rel="noreferrer noopener">Remote jobs</a>:&nbsp;sales manager, medical director, business and technology lead, sales executive



<h2 class="wp-block-heading">16. Cactus Communications</h2>



Headquarters:&nbsp;Mumbai, Maharashtra, India



Industry:&nbsp;Communications



<a href="https://www.flexjobs.com/jobs/telecommuting-jobs-at-cactus_communications" target="_blank" rel="noreferrer noopener">Remote jobs</a>:&nbsp;editor, medical writer, academic research evaluation



<h2 class="wp-block-heading">17. Transcom</h2>



Headquarters:&nbsp;Stockholm, Uppland, Sweden



Industry:&nbsp;Customer service



<a href="https://www.flexjobs.com/jobs/telecommuting-jobs-at-transcom" target="_blank" rel="noreferrer noopener">Remote jobs</a>:&nbsp;technical support representative, payroll administrator, customer service agent



<h2 class="wp-block-heading">18. BroadPath Healthcare Solutions</h2>



Headquarters:&nbsp;Tuscon, Arizona



Industry:&nbsp;Health care



<a href="https://www.flexjobs.com/jobs/telecommuting-jobs-at-broadpath_healthcare_solutions" target="_blank" rel="noreferrer noopener">Remote jobs</a>:&nbsp;director of service operations, provider service representative, insurance claims processor, data specialist



<h2 class="wp-block-heading">19. Dell</h2>



Headquarters:&nbsp;Round Rock, Texas



Industry:&nbsp;Computer technology



<a href="https://www.flexjobs.com/jobs/telecommuting-jobs-at-dell" target="_blank" rel="noreferrer noopener">Remote jobs</a>:&nbsp;program manager, account executive, consultant, sales executive



<h2 class="wp-block-heading">20. Aetna</h2>



Headquarters:&nbsp;Hartford, Connecticut



Industry:&nbsp;Health care



<a rel="noreferrer noopener" href="https://www.flexjobs.com/jobs/telecommuting-jobs-at-aetna" target="_blank">Remote jobs</a>: outreach coordinator, content quality reviewer, network relations manager, health coach



This article was first published on CNBC <a href="https://www.cnbc.com/2020/01/10/top-20-companies-hiring-remote-workers-and-best-remote-roles.html?forYou=true">https://www.cnbc.com/2020/01/10/top-20-companies-hiring-remote-workers-and-best-remote-roles.html?forYou=true</a> and is republished with its permission.

These 20 companies around the world are on a hiring spree for work-from-home jobs

NAIROBI (Reuters) &#8211; Kenya’s finance ministry cut its 2019 economic growth estimate to 5.6%, from an initial estimate of growth of about 6%, saying the move was caused by slower growth in the farming sector.



Economic expansion could bounce back to 6.1% this year, the ministry said.



Reporting by Duncan Miriri; Editing by Catherine Evans

Why Kenya’s Treasury cut 2019 growth estimate to 5.6%

<figure>
 <img decoding="async" src="https://images.theconversation.com/files/308779/original/file-20200107-123377-2bsrfa.jpg?ixlib=rb-1.1.0&#038;q=45&#038;auto=format&#038;w=754&#038;fit=clip" />
 <figcaption>
 High resolution satellite image of the Nile River’s delta.
 Shutterstock/TommoT
 </figcaption>
 </figure>

<a href="https://theconversation.com/profiles/ethan-d-coffel-389546">Ethan D. Coffel</a>, <a href="http://theconversation.com/institutions/dartmouth-college-1720">Dartmouth College</a> and <a href="https://theconversation.com/profiles/justin-s-mankin-930128">Justin S. Mankin</a>, <a href="http://theconversation.com/institutions/dartmouth-college-1720">Dartmouth College</a>

The Nile – the world’s longest river – runs through <a href="https://ascelibrary.org/doi/pdf/10.1061/9780784481394.026">11 countries</a> in Africa and <a href="https://www.internationalrivers.org/campaigns/nile-basin">has a basin</a> that covers about 3 million sq kms, nearly 10% of the continent’s landmass. About <a href="http://atlas.nilebasin.org/treatise/estimated-and-projected-total-population-in-nile-basin-countries/">250 million people</a> are reliant on the Nile’s waters in Ethiopia, Uganda, South Sudan, Sudan and Egypt. 

Nearly all of the rainfall that feeds the Nile’s two major tributaries – the Blue and White Nile – falls in the upper Nile basin, found in South Sudan, western Ethiopia and Uganda. The lower Nile basin receives very little rainfall and the countries there – Sudan and Egypt – depend heavily on the Nile for water. 

Climate projections suggest that, by the end of the century, the amount of rain in the Upper Nile basin could increase <a href="https://agupubs.onlinelibrary.wiley.com/doi/10.1029/2019EF001247">by up to 20%</a>. But our <a href="https://agupubs.onlinelibrary.wiley.com/doi/10.1029/2019EF001247">new paper</a> shows that, despite more rainfall, devastating hot and dry spells are projected to become more frequent in the Upper Nile basin. 

These conditions will occur simultaneously with the region’s rapid population growth, <a href="http://atlas.nilebasin.org/treatise/estimated-and-projected-total-population-in-nile-basin-countries/">anticipated</a> to double by the middle of this century. This will increase water stress in the region, irrespective of the modest rainfall increases.

At present, around 10% of the basin’s population faces chronic <a href="https://www.un.org/waterforlifedecade/scarcity.shtml">water scarcity</a> due to the region’s seasonal aridity and the highly unequal distribution of water resources. By 2040, according to our research – in a year with average temperatures and rain – the number of people facing water scarcity could reach 35%. That’s more than 80 million people without enough water to function in their daily lives.

Hot and dry conditions will make this worse. These conditions will kill crops, reduce hydropower, diminish the water available for people and industry and heighten tensions over the distribution of regional water resources. By 2040, a hot and dry year could push over 45% of the people in the Nile Basin – nearly 110 million people – into water scarcity. 

Even without these developments, population growth would drive water scarcity in the Upper Nile. But larger deficits in the amount of water flowing into streams and rivers during future hot and dry years will amplify this effect. This will leave an additional 5% to 15% of the future population in the Upper Nile basin facing water scarcity in hot and dry years.

These climate and population changes will project onto an already complex and tense socioeconomic and political landscape. 

The Nile’s 11 riparian states vie with one another for the river’s water. The downstream states of Egypt and Sudan try to assert control over the Nile flow, while upstream states try to find ways to secure water for their well-being. Coupled with the region’s strong dependence on subsistence agriculture and political instability, the region is at risk of severe food and water shortages. 

<h2>More hot and dry years</h2>

For our research, we wanted to understand how much more frequent hot and dry years could become, despite the slight increase in overall rainfall.

To do this we assessed historical climate trends in the Upper Nile Basin using eight observational data sets. These recorded rainfall and temperature in the Upper Nile basin between 1961 and 2005. We also used climate models to estimate how temperature and precipitation will change over the remaining century.

Our findings show that hot and dry years have become more common over the past four decades in the Upper Nile basin and that this trend is likely to continue. These hot and dry conditions will be similar to those that have resulted in crop failures, food shortages and humanitarian crises in the region over the past decades. 

By the late 21st century, the frequency of these hot and dry years may rise between a factor of 1.5 and 3. In the past, hot and dry years occurred about once every 20 years; but this increase in frequency means that in the future a hot and dry year could occur once every six to 10 years, making them a common experience for people in the region. 

In addition to becoming more frequent, they will also become more severe. Temperatures during heat waves in the region could rise between 2°C and 6°C, putting far more stress on people, animals and crops than occurs today.

We estimated the number of people facing water scarcity by comparing the total runoff – the amount of water flowing into streams and rivers – which is available for human consumption with the amount of water every person needs to meet their basic needs. When we make this comparison, we find that despite the small projected increase in rainfall, as the population rises and hot and dry years become more frequent, the total water supply will be far less than needed to meet the region’s needs.

<h2>Causes</h2>

What’s causing all this?

Like the rest of the world, the <a href="https://www.usaid.gov/sites/default/files/documents/1860/A%20Climate%20Trend%20Analysis%20of%20Ethiopia.pdf">Nile Basin region has been warming</a> due to rising global greenhouse gas concentrations. Because rainfall is projected to slightly increase in the region, the frequency of dry years won’t change significantly. However, the rise in temperature means that when dry years happen, they will be hot. 

Compounding this drying is a projected increase in the <a href="https://www.nature.com/articles/nclimate3273">year-to-year variations</a> in rainfall, which may be due to projected intensification of El Niño and La Niña cycles. This creates a <a href="https://www.nature.com/articles/s41558-018-0140-y">precipitation “whiplash”</a> in the region, where severe <a href="https://reliefweb.int/report/sudan/islamic-relief-responds-flash-floods-devastate-white-nile-sudan">wet</a> and <a href="https://www.hydrol-earth-syst-sci.net/18/1239/2014/">dry</a> years occur in quick succession. 

<h2>What can be done</h2>

One critical priority is to ensure that food and water are more equally available to all. Despite there being enough food and water on average, many people <a href="https://www.usaid.gov/sites/default/files/documents/1866/09.30.19_-_USAID-DCHA_Ethiopia_Complex_Emergency_Fact_Sheet_3.pdf">cannot afford or access it</a>. This will get worse.

A critical first step is for basin states to create an equitable water allocation scheme among them that not only addresses “historical rights” – such as Egypt’s long-held claims to <a href="https://www.tandfonline.com/doi/full/10.1080/03932729.2017.1333272">two-thirds of Nile flow</a> – but also to the needs of upstream countries like South Sudan and Ethiopia, which require water to build their economies. 

Cooperative water-sharing institutions within the basin could help avert contentious situations. For instance, Ethiopia is currently constructing the <a href="https://www.reuters.com/article/us-ethiopia-dam-factbox/factbox-key-facts-about-ethiopias-giant-nile-dam-idUSKBN1XG21L">Grand Ethiopian Renaissance Dam</a> on the Blue Nile River. Without strong regional institutions to provide political and legal assurances of fair Nile water use, the dam’s construction is provoking worries in Egypt, as it would likely reduce irrigation water availability for the country’s agriculture.

Water may be often pointed to as a source of conflict, but as with the case of <a href="http://www.columbia.edu/%7Etmd2118/situstudio/why_cooperation.pdf">Israel and Jordan</a>, it can also be a means to cooperation, getting nations to the negotiating table. In a future world with more people and less water, countries in the Nile Basin will need to work together to ensure the best use of the region’s resources to catch and store rainfall in the wet, flood risk years, and equally distribute that water in dry years. 

If the region’s governments fail to work together to prepare, the consequences for their people could be catastrophic.<img loading="lazy" decoding="async" src="https://counter.theconversation.com/content/129360/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/ethan-d-coffel-389546">Ethan D. Coffel</a>, Neukom Institute Postdoctoral Fellow, <a href="http://theconversation.com/institutions/dartmouth-college-1720">Dartmouth College</a> and <a href="https://theconversation.com/profiles/justin-s-mankin-930128">Justin S. Mankin</a>, Assistant Professor, Department of Geography, <a href="http://theconversation.com/institutions/dartmouth-college-1720">Dartmouth College</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/in-the-future-there-will-be-more-rain-but-less-water-in-the-nile-basin-129360">original article</a>.

Nile_River_Shutterstock_TommoT

In the future there will be more rain but less water in the Nile Basin, what can be done?

LAGOS (Reuters) &#8211; Nigerian President Muhammadu Buhari has signed into law a new bill that seeks to boost government revenue through a rise in the value-added tax rate while at the same time supporting small businesses in Africa’s biggest economy. 



Nigeria has been trying to boost tax income as part of efforts to diversify its economy to reduce dependence on sales of crude oil.



But raising more money from taxes has proved difficult in a country where most small businesses are not registered. The government has repeatedly said it wants to boost non-oil revenue since oil sales make up 90% of foreign-exchange receipts.



Under the finance bill signed into law on Monday, VAT rates will rise from 5% to 7.5%, which is still one of the lowest rates in the world.



The bill, passed by parliament last year together with the record 2020 budget of 10.59 trillion naira ($34.6 billion), aims to help lift Nigeria’s economy from low growth following a recession four years ago.



Under the new law, the government will introduce a graduated tax scale for small businesses, with firms that generate less than 25 million naira ($70,000) in annual turnover exempt from corporate tax.



Tax experts say the finance bill will seek to tax companies with digital activities that have significant presence in Nigeria and generate profits.



The government hopes the new bill will help to reform its domestic tax laws and provide incentives for investments in infrastructure and the capital markets while supporting small businesses.



Nigerian Stock Exchange chief Oscar Onyema said on Monday he expects the new bill and 2020 budget implementation to have a positive impact on corporate earnings and consumer spending.



So far, stocks are up 9.6% in the first seven days of trading in 2020, thanks to higher oil prices and gains in Nigeria’s second-biggest listed firm, MTN Nigeria.



($1 = 305.95 naira)



 



Reporting by Alexis Akwagyiram in Lagos; Writing by Chijioke Ohuocha; Editing by Matthew Lewis

Nigeria seeks to boost revenue, support small firms with new finance law, what you need to  know…

LAGOS (Reuters) &#8211; MTN Nigeria shares rose 10% on Monday to their highest in two weeks after the country’s attorney general withdrew a $2 billion tax demand against the South African telecoms firm.



The company and attorney general both said on Friday that Nigeria’s attorney general had withdrawn the tax case.



Reporting by Chijioke Ohuocha; Editing by Jan Harvey

MTN Nigeria shares up 10% after government withdraws $2 billion tax case

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1110" height="555" src="https://www.cnbcafrica.com/wp-content/uploads/2020/01/shop-now-sign-tablet-1110x555.jpg" alt="" class="wp-image-353226" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/01/shop-now-sign-tablet-1110x555.jpg 1110w, https://cms.cnbcafrica.com/wp-content/uploads/2020/01/shop-now-sign-tablet-300x150.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2020/01/shop-now-sign-tablet-820x410.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2020/01/shop-now-sign-tablet-768x384.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2020/01/shop-now-sign-tablet-1536x768.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2020/01/shop-now-sign-tablet-696x348.jpg 696w, https://cms.cnbcafrica.com/wp-content/uploads/2020/01/shop-now-sign-tablet-1068x534.jpg 1068w, https://cms.cnbcafrica.com/wp-content/uploads/2020/01/shop-now-sign-tablet-840x420.jpg 840w, https://cms.cnbcafrica.com/wp-content/uploads/2020/01/shop-now-sign-tablet-1920x960.jpg 1920w, https://cms.cnbcafrica.com/wp-content/uploads/2020/01/shop-now-sign-tablet.jpg 2000w" sizes="auto, (max-width: 1110px) 100vw, 1110px" /><figcaption>E-shopping Online Business Promotion Shopaholic Concept</figcaption></figure>



By Derek Cikes



Consumer demands for a frictionless, personalised experience which caters for their lifestyle needs are set to drive online retail trends in 2020.&nbsp; The result is a focus on creating a customised experience that supports and enhances shopping in the virtual environment, facilitating the buying journey.



Derek Cikes, Commercial Director at payment fintech Payflex,
shares the top 8 online retail trends for the year ahead.



<ol class="wp-block-list"><li>Omnichannel retailing</li></ol>



As shoppers expand their touchpoints with a brand, the online and bricks-and-mortar channels will increasingly merge into a seamless omnichannel experience within the brand ecosystem.&nbsp; In order to facilitate this, merchants need to provide shoppers with an integrated shopping experience across all channels that allows shoppers to browse, shop and return items across in-store and online channels. 



 2. Pop-up Shops



2020 will see pop-up shops expanding beyond
brand awareness to provide shoppers with a curated shopping
experience.&nbsp;&nbsp; Leveraging the scarcity and exclusivity principles
associated with these temporary storefronts, shoppers will have access to novel
or limited brand items.&nbsp; Brands in turn will have the opportunity to
engage one-on-one with their customers while collecting shopper data.



This intimate connection will also enable
pop-up stores to take on a new position of facilitating brand experiences
rather than only focussing on the commercial aspect of a retail pop-up store.



“By providing a compelling pop-up experience, brands are able to differentiate themselves and establish a unique relationship with their target market,” says Cikes.



 3. User experience



User experience will be optimised by levering online
channels. Simplicity is the key, enabling the user to effortlessly navigate the
website and find and acquire the desired items.



This includes reducing the number of
steps to complete a payment transaction such as the seamless single click
checkout process which can dramatically increase sales conversions.&nbsp; 



“Our experience has shown that the Payflex 1-click checkout process can reduce cart abandonment by a whopping 40% &#8211;&nbsp; a huge benefit for ecommerce merchants,” says Cikes.



 4. Online security



Concerns about online security and privacy are one of the key challenges to growing online sales in South Africa.&nbsp; To provide comfort to shoppers, 2020 will see a focus on creating a secure online infrastructure and being transparent about the use of data, so that shoppers feel comfortable sharing their financial information.&nbsp; 



 5. The customer journey



The year ahead will see online stores
optimizing the customer journey through each touchpoint with the brand.&nbsp;
This will translate into establishing a strong online communications infrastructure,
supporting customers through a variety of online and social media platforms
throughout their purchasing journey.



This optimizes the shopper’s online experience, allowing the next steps to follow naturally &#8211; increasing conversions, customer retention and eventually brand advocacy.



 6. Payment choices



Consumers are increasingly wary of incurring
debt to purchase lifestyle goods, which has opened the door to alterative
non-credit pay later solutions, such as Payflex.&nbsp;&nbsp; 



“Customers want more control of their spending, encouraging the online retail industry to incorporate payment experiences which meet their needs, such as the free spending solution from Payflex which can boost sales by 20-30%,” says Cikes.



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="624" height="330" src="https://www.cnbcafrica.com/wp-content/uploads/2020/01/Payment-Choices-1.jpg" alt="" class="wp-image-353225" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/01/Payment-Choices-1.jpg 624w, https://cms.cnbcafrica.com/wp-content/uploads/2020/01/Payment-Choices-1-300x159.jpg 300w" sizes="auto, (max-width: 624px) 100vw, 624px" /></figure>



 7. Online Ubiquity



The increase in social media retailing demands a pervasive online brand presence where shoppers can engage in a seamless experience with the brand and buy products directly from social media channels in a contained, accessible environment such as Instagram.&nbsp; 



 8. Machine Learning



The year ahead will leverage the
capabilities of artificial intelligence and machine learning to provide more
personalised shopping experiences.&nbsp; By using data and search history,
merchants can curate products and services specific to the shopper’s needs and
likes.&nbsp;&nbsp; This results in being able to customize each shopping
experience such as with sites like Amazon, where automatic suggestions are made
in addition to the purchase or music sites such as Spotify or Deeza which
leverage machine learning to provide a personal playlist based on a user’s data
and online search and listening history.



Final Comments



The
inter-relatedness of consumer demands and technological innovations creates one
of the central themes of online retail in 2020 – a symbiotic relationship
between shopper and technology.



“This will play out in new
avenues of innovation which meet consumer demands while leveraging technology
to create a meaningful online experience, moving shoppers further along the
customer journey to facilitate successful conversions,” concludes Cikes.

E-shopping Online Business Promotion Shopaholic Concept

Top 8 retail trends to watch in 2020

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1110" height="624" src="https://www.cnbcafrica.com/wp-content/uploads/2019/11/1571595826001_6110064209001_6110061003001-vs-1110x624.jpg" alt="" class="wp-image-351211" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2019/11/1571595826001_6110064209001_6110061003001-vs-1110x624.jpg 1110w, https://cms.cnbcafrica.com/wp-content/uploads/2019/11/1571595826001_6110064209001_6110061003001-vs-300x169.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2019/11/1571595826001_6110064209001_6110061003001-vs-820x461.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2019/11/1571595826001_6110064209001_6110061003001-vs-768x432.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2019/11/1571595826001_6110064209001_6110061003001-vs-696x392.jpg 696w, https://cms.cnbcafrica.com/wp-content/uploads/2019/11/1571595826001_6110064209001_6110061003001-vs-1068x601.jpg 1068w, https://cms.cnbcafrica.com/wp-content/uploads/2019/11/1571595826001_6110064209001_6110061003001-vs-747x420.jpg 747w, https://cms.cnbcafrica.com/wp-content/uploads/2019/11/1571595826001_6110064209001_6110061003001-vs.jpg 1280w" sizes="auto, (max-width: 1110px) 100vw, 1110px" /><figcaption>Jabu Mabuza: How Eskom plans to tackle its debt</figcaption></figure>



 ISSUED BY THE PRESIDENCY OF THE REPUBLIC OF SOUTH AFRICA 



President Cyril Ramaphosa has noted the resignation of Mr Jabu Mabuza as member and Chairperson of the Board of Eskom Limited. 



Mr Mabuza tendered his resignation today, Friday 10 January 2020. In his resignation letter Mr Mabuza apologised for Eskom’s inability to meet the commitment it made to the President, the Deputy President and the relevant Ministers at a meeting on 11 December 2019 to avoid load shedding over this period.



At this meeting, Eskom presented plans to ensure that the risk of loadshedding would be eliminated during the holiday period until 13 January 2020. Eskom also outlined the risks affecting the national grid.



As the Minister assigned responsibility for Eskom, Public Enterprises Minister Pravin Gordhan has accepted Mr Mabuza’s resignation. President Ramaphosa has expressed his gratitude to Mr Mabuza for serving Eskom and the nation during a challenging period and has commended Mr Mabuza for taking responsibility and accepting accountability for events under his leadership.



Government continues to support the measures being taken by Eskom to restore reliable electricity supply as a matter of priority, and is proceeding with measures to introduce new generation capacity – including self-generation – in the shortest possible time.



In the wake of Mr Mabuza’s resignation, Government will soon announce a re-configured Eskom board with the appropriate mix of electricity industry, engineering and corporate governance experience. . The President wishes Mabuza well in his future endeavours and his existing leadership roles in various sectors of the economy.

Jabu Mabuza: How Eskom plans to tackle its debt

Eskom chair Jabu Mabuza resigns from struggling power utility

By George Ott, Economist, NKC African Economics 



On December 21, Côte d’Ivoire’s President Alassane Ouattara announced that the eight member states of the West African Economic and Monetary Union (Waemu) and France had agreed to rename the CFA franc and implement a range of reforms to the long-standing regional currency.



Although talk of change had been in the air, the December announcement came as somewhat of a surprise, certainly to some others in the region.



The
formation of an independent monetary union and the adoption of a regional
currency has been a long-term goal for the broader 15-member Economic Community
of West African States (Ecowas), of which all the Waemu states are members.
Ecowas leaders met as recently as June 2019 and agreed to adopt a common
regional currency, to be called the ‘eco’, as early as 2020. 



However,
with manifold challenges facing this project, the Waemu states appear to feel
they were already in a position to get the reform ball rolling, ostensibly with
the goal of facilitating the eventual formation of an Ecowas regional monetary
union.



Aside
from the broader Ecowas debate, the reforms announced in December to be
implemented on the West African CFA franc include: renaming the CFA franc the
eco; scrapping the obligation requiring Waemu members to keep 50% of their
foreign reserves at the French central bank; and the withdrawal of all French
representatives from decision-making and management bodies of the West African
Monetary Union (comprising the same eight Waemu member countries). 



Significantly,
however, the eco will remain pegged to the euro and the Banque de France will
continue to guarantee the convertibility of the currency.



Although
these reforms represent the most substantial changes in the more than
seven-decade history of the CFA franc, it nevertheless received a mixed
reception. 



While
some commentators hailed the move as a significant breakaway from French
involvement and a step towards monetary independence, others pointed out that
the move was largely symbolic and the reforms ‘cosmetic’, as the maintenance of
the euro peg will continue to dictate the scope of regional monetary policy
decisions.



Another
significant challenge facing the eco lies in the Waemu member states satisfying
the convergence criteria for the adoption of the new common currency. 



Key
criteria are: maintaining a budget deficit of less than 3% of GDP; public debt
ratio of less than 70% of GDP; annual inflation rate of less than 10%; and, maintaining
a minimum of three months of import cover. Currently, it appears unlikely that
the majority of the Waemu countries will meet all these criteria by the very
ambitious inception date of July 2020.



Regional
giants and fellow Ecowas members Nigeria and Ghana have also weighed in on the
developments, adopting somewhat contrasting positions. 



While
Ghana came out strongly in favour of the eco and the formation of a broader
regional monetary union (although not in favour of the euro peg but rather a
floating exchange rate), Nigeria has taken a more cautious approach in first
considering its official response.



With
anti-colonial sentiment growing in the region, this move is perhaps mostly
symbolic at this stage, and is to the political benefit of Mr Ouattara and
France’s President Emmanuel Macron. However, this does not mean that it is not
significant. 



The
long-standing Ecowas goal of establishing an independent, regional monetary
union with a single currency remains in the minds of many in the region, and
the decision by the Waemu to make the first move may yet prove to be a valuable
viability test for this ideal. 



Yet, in the meantime, with the maintenance of the euro peg, the reforms are not expected to have much of an impact on the currency, at least not in the short- to medium term. Moreover, the goal of officially moving to the eco by mid-2020 may prove to be overly ambitious.

Westafrica_Wikimedia

Op-Ed: From CFA franc to ‘eco’, what you need to know about West Africa’s new currency

The 2010s kicked off a decade of uncertainty within the job market. Many sectors were still dealing with the aftermath of the Great Recession, the national&nbsp;<a href="https://www.bls.gov/opub/ted/2010/ted_20100217.htm" class="" rel="noreferrer noopener" target="_blank">unemployment rate</a>&nbsp;sat at 9.7%, the&nbsp;<a href="https://www.epi.org/press/class_of_2010_faces_worst_job_market_in_a_generation_says_epi_report/" class="" rel="noreferrer noopener" target="_blank">class of 2010</a>&nbsp;graduated into the worst job market in a generation, and by the summer of 2010, more than a million job seekers&nbsp;<a href="https://www.cnbc.com/id/37554163" class="">quit looking for employment</a>.



However, now at the close of the decade, the&nbsp;<a href="https://www.cnbc.com/2019/12/06/us-nonfarm-payrolls-november-2019.html" class="">job market has markedly improved</a>&nbsp;for most workers. That’s especially true for those in the technology space.



While developing tech has&nbsp;<a href="https://www.cnbc.com/2019/12/05/map-the-us-cities-where-robots-are-impacting-jobs-the-most.html" class="">eliminated some job functions</a>, it’s also&nbsp;<a href="https://www.cnbc.com/2019/11/27/high-paid-well-educated-white-collar-jobs-heavily-affected-by-ai-new-report.html" class="">redefined</a>&nbsp;and created completely new roles in the past 10 years — many that pay well, thanks in part to&nbsp;<a href="https://www.cnbc.com/2019/11/06/how-switching-careers-to-tech-could-solve-the-us-talent-shortage.html" class="">a short supply of workers</a>&nbsp;with the&nbsp;<a href="https://www.cnbc.com/2019/11/19/these-will-be-the-top-10-most-popular-tech-skills-of-2020.html" class="">right skill sets</a>&nbsp;to fill emerging jobs that are crucial to keeping businesses competitive.



<a class="" href="https://www.cnbc.com/make-it/">CNBC Make It</a> spoke with Glassdoor senior economic research analyst Amanda Stansell about the jobs that barely existed at the turn of the decade, but that have exploded in growth and median base pay through the 2010s.



<h2 class="wp-block-heading">Data scientist: $107,697 per year</h2>



In 2012, Harvard Business Review named data scientist&nbsp;<a href="https://hbr.org/2012/10/data-scientist-the-sexiest-job-of-the-21st-century" class="" rel="noreferrer noopener" target="_blank">“the sexiest job of the 21st century</a>.” And for the past four years, Glassdoor has recognized it as the&nbsp;<a href="https://www.cnbc.com/2019/01/22/glassdoor-the-20-best-jobs-in-america-in-2019.html" class="">No. 1 job in the U.S.</a>&nbsp;based on job satisfaction, pay and opportunities.



Stansell says demand for data scientists is still most concentrated within the tech industry, but that it’s growing across every sector: health care, finance, business, retail, media and beyond.



“All these companies have a need for a data scientist who can make use of the growing amount of data they have and turn it into something valuable,” Stansell says.



While the term “data science” was first coined as an independent discipline (separate from traditional statistics) in 2001 by&nbsp;<a href="https://www.stat.purdue.edu/~wsc/" class="" rel="noreferrer noopener" target="_blank">William S. Cleveland</a>, jobs in data science have grown most rapidly since 2010. That’s because as more companies are investing in technology to collect user data, the need for professionals to interpret said data has skyrocketed.



Because it’s still a relatively new field, many of today’s data scientists have varied backgrounds in computer science, math, statistics and engineering. However, <a class="" rel="noreferrer noopener" href="https://www.insidehighered.com/digital-learning/article/2017/03/15/data-analytics-programs-taking-colleges" target="_blank">more universities</a> have begun offering specific degrees, courses and even bootcamps in data science within the past decade.



<h2 class="wp-block-heading">Information security engineer: $100,553 per year</h2>



Since 2010, data breaches have&nbsp;<a href="https://www.cnbc.com/2019/12/23/the-10-biggest-data-hacks-of-the-decade.html" class="">compromised over 38 billion accounts,</a>&nbsp;according to the cybersecurity firm Risk Based Security.



These breaches, and the need to protect user data, has resulted in information security being one of the fastest-growing fields. Information security engineers work to safeguard an organization’s computer network systems, and plan and carry out security measures to protect sensitive information from infiltration and cyber attacks.



“As there have been more and more high-profile data breaches in recent years, this has translated to companies seeing the need for having people who can help them protect their data,” Stansell says.



The field is projected to&nbsp;<a href="https://www.bls.gov/ooh/computer-and-information-technology/information-security-analysts.htm" class="" rel="noreferrer noopener" target="_blank">grow by 32% through 2028</a>, according to the Bureau of Labor Statistics. (The average growth rate for all occupations is 5%.)



However, the need for information security engineers has far eclipsed the number of people with the skills to do the job. The U.S. Department of Commerce&nbsp;<a href="https://www.cnbc.com/2018/08/09/cybersecurity-jobs-non-technical-workers.html" class="">recently estimated</a>&nbsp;there are 350,000 unfilled cybersecurity jobs in the country. Cybersecurity Ventures, an analytics and research company, estimates 3.5 million jobs in cybersecurity around the world are likely to go unfilled by 2021.



This talent shortage means workers in the field are paid handsomely. While Glassdoor data says information security engineers earn a median base salary of just over $100,000 per year, top-level jobs in the field, like chief information security officer, can yield <a class="" href="https://www.cnbc.com/2018/08/09/cybersecurity-jobs-non-technical-workers.html">pay above $300,000 in top metro areas</a>, according to cybersecurity recruiting firm SilverBull.



<h2 class="wp-block-heading">Director of diversity and inclusion: $98,154 per year</h2>



The only top-paying emerging job of the decade that doesn’t fall into the tech space is one that focuses on workplace culture, particularly within diversity and inclusion. The position of D&amp;I director is so new, Glassdoor doesn’t have adequate pay data for the specific role, but uses Human Resources Director salaries with an average pay of $98,154 per year as a guide.



According to a&nbsp;<a href="https://www.glassdoor.com/about-us/diversity-inclusion-2019/" class="" rel="noreferrer noopener" target="_blank">2019 Glassdoor survey</a>, 61% of U.S. employees have witnessed or experienced discrimination in the workplace based on age, race, gender or LGBTQ identity. Meanwhile, the career site saw a 30% increase in the past year of diversity and inclusion job openings, such as D&amp;I director, program manager, diversity recruiter and D&amp;I consultant.



“This signals that these are issues employees are facing, and employers are catching up and trying to make an impact in this field,” Stansell says, “which is really an encouraging sign that employers are making the investment towards an inclusive workplace.”



Larger companies with 5,000 or more employees are the ones making the biggest investment in growing their D&amp;I departments, likely because they have the financial resources to do so.



Stansell predicts progress in these types of roles will continue into the next decade. According to a&nbsp;<a href="https://www2.deloitte.com/us/en/pages/about-deloitte/articles/press-releases/inclusion-survey.html" class="" rel="noreferrer noopener" target="_blank">2017 survey from Deloitte</a>,&nbsp;<a href="https://www.cnbc.com/2017/07/26/75-percent-of-execs-would-leave-their-company-for-one-that-values-diversity.html" class="">72% of employees</a>&nbsp;said they would consider leaving their company to join another with better diversity initiatives and programs.



“In the next few years, we’ll continue to see medium-sized companies invest in diversity and inclusion, especially as it is such an important thing to job seekers,” Stansell says.



<h2 class="wp-block-heading">Sales engineer: $90,000 per year</h2>



Sales engineers work for tech companies to sell customized software and products to other businesses looking to expand their IT efforts.



“As tech companies are offering really high-value products to potential customers, they need to have the ability to adapt to each individual [client],” Stansell says. “Having a sales engineer, who is a communicator between the sales and engineering aspects, is really important make sure that the needs of the potential customer are met.”



Because workers must have extensive knowledge of these products and understand the scientific processes behind their operations, sales engineers tend to have technical backgrounds (for example, a degree in computer science or engineering). However, Stansell adds they also need solid interpersonal skills such as communication, negotiation and marketing know-how in order to provide customized solutions to clients during the sales process.



Those with a marketing background may also be able to learn more about tech products and software in order to transition into this type of role.



While Glassdoor puts the annual median salary of a sales engineer at $90,000 per year, pay can vary based on what they’re selling. For example, the <a class="" href="https://www.cnbc.com/2019/04/23/glassdoor-the-7-highest-paying-sales-jobs-in-the-us.html">Bureau of Labor Statistics says</a> those operating in the telecommunications industry tend to earn the most, about <a class="" rel="noreferrer noopener" href="https://www.bls.gov/ooh/sales/sales-engineers.htm#tab-5" target="_blank">$118,000 a year</a>, followed by sales engineers in computer systems design and wholesale electronic markets, who also command six-figure salaries.



<h2 class="wp-block-heading">Salesforce developer: $80,357 per year</h2>



While Salesforce, the cloud-based software company that specializes in customer relationship management, was founded in 1999, its influence in U.S. workplaces expanded vastly in the past 10 years, so much so that the role of Salesforce developer became a sought-after position at companies such as&nbsp;<a href="https://www.glassdoor.com/Job/jobs.htm?sc.keyword=salesforce%20developer&amp;amp;locT=&amp;amp;locId=0&amp;amp;locKeyword=&amp;amp;jobType=all&amp;amp;fromAge=-1&amp;amp;minSalary=0&amp;amp;includeNoSalaryJobs=true&amp;amp;radius=25&amp;amp;cityId=-1&amp;amp;minRating=0.0&amp;amp;industryId=-1&amp;amp;sgocId=-1&amp;amp;seniorityType=all&amp;amp;companyId=-1&amp;amp;employerSizes=5&amp;amp;applicationType=0&amp;amp;remoteWorkType=0" class="" rel="noreferrer noopener" target="_blank">Google, Amazon, PwC and Uber</a>.



As a Salesforce developer, workers use the Salesforce platform or cloud technology to code software or application solutions for their company to better connect with customers, partners and potential customers.



“It’s a job completely born out of successful technology product that’s changed the ways companies function and organize data,” Stansell says.



Developers generally have a background in computer science and may&nbsp;<a href="https://www.cnbc.com/2019/11/19/these-will-be-the-top-10-most-popular-tech-skills-of-2020.html" class="">pursue certification</a>&nbsp;in specific&nbsp;<a href="https://trailhead.salesforce.com/credentials/developeroverview" class="" rel="noreferrer noopener" target="_blank">Salesforce applications</a>&nbsp;or processes. That said, these developers also need&nbsp;<a href="https://www.cnbc.com/2019/11/21/10-top-soft-skills-to-master-for-2020-if-you-want-a-raise-promotion-or-new-job.html" class="">soft skills</a>, such as communication, in order to interpret data and workflows for a non-technical audience.



“I think we’ll continue to see this trend in the future with really successful tech products,” Stansell says, adding, “people who are able to learn those skills and apply them for different companies can have really great career paths.”



This article was first published on CNBC <a href="https://www.cnbc.com/2019/12/30/5-high-paying-growing-jobs-that-will-be-booming-through-the-2020s.html">https://www.cnbc.com/2019/12/30/5-high-paying-growing-jobs-that-will-be-booming-through-the-2020s.html</a> and is republished with its permission.

These 5 high-paying, growing jobs didn’t exist a decade ago—but they’ll be booming through the 2020s

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1110" height="785" src="https://www.cnbcafrica.com/wp-content/uploads/2020/01/poster-2-2-1110x785.jpg" alt="" class="wp-image-353090" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/01/poster-2-2-1110x785.jpg 1110w, https://cms.cnbcafrica.com/wp-content/uploads/2020/01/poster-2-2-300x212.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2020/01/poster-2-2-820x580.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2020/01/poster-2-2-768x543.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2020/01/poster-2-2-1536x1086.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2020/01/poster-2-2-100x70.jpg 100w, https://cms.cnbcafrica.com/wp-content/uploads/2020/01/poster-2-2-696x492.jpg 696w, https://cms.cnbcafrica.com/wp-content/uploads/2020/01/poster-2-2-1068x755.jpg 1068w, https://cms.cnbcafrica.com/wp-content/uploads/2020/01/poster-2-2-594x420.jpg 594w, https://cms.cnbcafrica.com/wp-content/uploads/2020/01/poster-2-2-1920x1358.jpg 1920w, https://cms.cnbcafrica.com/wp-content/uploads/2020/01/poster-2-2.jpg 2048w" sizes="auto, (max-width: 1110px) 100vw, 1110px" /></figure>



FORBES AFRICA is on the hunt for Africans under the age of 30, who are building brands, creating jobs and transforming the continent, to join our Under 30 community for 2020.



JOHANNESBURG, 07 January 2020: Attention entrepreneurs,
creatives, sport stars and technology geeks — the 2020 FORBES AFRICA Under 30
nominations are now officially open. 



The
FORBES AFRICA 30 Under 30 list is the most-anticipated list of game-changers on
the continent and this year, we are on the hunt for 30 of Africa’s brightest
achievers under the age of 30 spanning these categories: Business, Technology,
Creatives and Sport.



Each year, FORBES AFRICA looks for resilient self-starters, innovators, entrepreneurs and disruptors who have the acumen to stay the course in their chosen field, come what may.



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1110" height="742" src="https://www.cnbcafrica.com/wp-content/uploads/2020/01/Under-30-online-2020-1110x742.jpg" alt="" class="wp-image-353085" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/01/Under-30-online-2020-1110x742.jpg 1110w, https://cms.cnbcafrica.com/wp-content/uploads/2020/01/Under-30-online-2020-300x201.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2020/01/Under-30-online-2020-768x513.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2020/01/Under-30-online-2020-1536x1027.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2020/01/Under-30-online-2020-696x465.jpg 696w, https://cms.cnbcafrica.com/wp-content/uploads/2020/01/Under-30-online-2020-1068x714.jpg 1068w, https://cms.cnbcafrica.com/wp-content/uploads/2020/01/Under-30-online-2020-628x420.jpg 628w, https://cms.cnbcafrica.com/wp-content/uploads/2020/01/Under-30-online-2020-1920x1283.jpg 1920w, https://cms.cnbcafrica.com/wp-content/uploads/2020/01/Under-30-online-2020.jpg 2048w" sizes="auto, (max-width: 1110px) 100vw, 1110px" /></figure>



Past
honorees include Sho Madjozi, Bruce Diale, Karabo Poppy, Kwesta, Nomzamo
Mbatha, Burna Boy, Nthabiseng Mosia, Busi Mkhumbuzi Pooe, Henrich Akomolafe,
Davido, Yemi Alade, Vere Shaba, Nasty C and WizKid.



What’s
different this year is that we have whittled down the list to just 30
finalists, making the competition stiff and the vetting process even more
rigorous.&nbsp; 



Says
FORBES AFRICA’s Managing Editor, Renuka Methil: “The start of a new decade
means the unraveling of fresh talent on the African continent. I can’t wait to
see the potential billionaires who will land up on our desks. Our coveted sixth
annual Under 30 list will herald some of the decade’s biggest names in business
and life.” 



If you think you have what it takes to be on this year’s list or know an entrepreneur, creative, technology entrepreneur or sports star under 30 with a proven track-record on the continent – introduce them to FORBES AFRICA by applying or submitting your nomination.



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="724" height="1024" src="https://www.cnbcafrica.com/wp-content/uploads/2020/01/poster-1-724x1024.jpg" alt="" class="wp-image-353088" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/01/poster-1-724x1024.jpg 724w, https://cms.cnbcafrica.com/wp-content/uploads/2020/01/poster-1-212x300.jpg 212w, https://cms.cnbcafrica.com/wp-content/uploads/2020/01/poster-1-768x1086.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2020/01/poster-1-1086x1536.jpg 1086w, https://cms.cnbcafrica.com/wp-content/uploads/2020/01/poster-1-696x984.jpg 696w, https://cms.cnbcafrica.com/wp-content/uploads/2020/01/poster-1-1068x1511.jpg 1068w, https://cms.cnbcafrica.com/wp-content/uploads/2020/01/poster-1-297x420.jpg 297w, https://cms.cnbcafrica.com/wp-content/uploads/2020/01/poster-1.jpg 1448w" sizes="auto, (max-width: 724px) 100vw, 724px" /></figure>



NOMINATIONS
CRITERIA:



Business
and Technology categories



<ol class="wp-block-list"><li>Must be an
 entrepreneur/founder aged 29 or younger on 31 March 2020</li><li>Should have a legitimate
 REGISTERED business on the continent</li><li>Business/businesses
 should be two years or older</li><li>Nominees must have risked
 own money and have a social impact</li><li>Must be profit generating</li><li>Must employ people in
 Africa</li><li>All applications must be
 in English</li><li>Should be available and
 prepared to participate in the Under 30 Meet-Up</li></ol>



Sports
category



<ol class="wp-block-list"><li>Must be a sports person
 aged 29 or younger on 31 March 2020</li><li>Must be representing an
 African team</li><li>Should have a proven
 track record of no less than two years</li><li>Should be making
 significant earnings</li><li>Should have some
 endorsement deals</li><li>Entrepreneurship and
 social impact is a plus</li><li>All applications must be
 in English</li><li>Should be available and
 prepared to participate in the Under 30 Meet-Up</li></ol>



Creatives
category



<ol class="wp-block-list"><li>Must be a creative aged 29
 or younger on 31 March 2020</li><li>Must be from or based in
 Africa</li><li>Should be making significant
 earnings</li><li>Should have a proven
 creative record of no less than two years</li><li>Must have social
 influence</li><li>Entrepreneurship and
 social impact is a plus</li><li>All applications must be
 in English</li><li>Should be available and
 prepared to participate in the Under 30 Meet-Up</li></ol>



Your
entry should include:



<ul class="wp-block-list"><li>Country</li><li>Full Names</li><li>Company name/Team you are
 applying with</li><li>A short motivation on why
 you should be on the list</li><li>A short profile on self
 and company</li><li>Links to published
 material / news clippings about nominee </li><li>All social media handles</li><li>Contact information</li><li>High-res images of
 yourself</li></ul>



Nominations
must be sent via email to FORBES AFRICA journalist and curator of the list,
Karen Mwendera, on <a href="mailto:Karen.Mwendera@abn360.com">Karen.Mwendera@abn360.com</a> 



Nominations
close on 3 February 2020.

poster-2-2

Applications Open for FORBES AFRICA 30 Under 30 class of 2020

By Emma Rumney



JOHANNESBURG, Jan 7 (Reuters) &#8211; Russian bank VTB is suing a Mozambique state-owned company over $535 million it extended as part a series of loans now at the centre of a $2 billion debt scandal.



An online court filing dated Dec. 23 shows VTB has lodged a lawsuit in Britain&#8217;s High court against the Mozambique state and Mozambique Asset Management, which borrowed the money from VTB as part of a costly project that U.S. authorities say was an elaborate front for a bribery and kickback scheme.



VTB had been in talks with the southeast African country over restructuring the loan, which the deputy head of VTB Capital&#8217;s legal department said in October represented a &#8220;significant exposure&#8221; for the bank.



&#8220;An agreed restructuring remains our preferred outcome but after 3 years of discussions with no tangible progress VTB must now consider all options available to it for a resolution,&#8221; VTB said in an emailed statement.



Mozambique&#8217;s Attorney General&#8217;s Office said it was waiting for formal notification of the lawsuit.



The court filing said the case relates to &#8220;general commercial contracts and arrangements&#8221; but no further information was available, other than that VTB Capital, the investment banking arm of VTB, is being represented by law firm Freshfields Bruckhaus Deringer.



The debt scandal has already sparked a series of court cases spanning London, New York and South Africa, ensnaring global investment bank Credit Suisse, three of its former bankers, Mozambique&#8217;s former finance minister and a past president&#8217;s son.



However this is the first time any of the cases have involved VTB, which is more than 60% owned by the state. It comes despite an increasingly close relationship between Russia and Mozambique, with President Filipe Nyusi visiting Russia twice last year and a series of agreements between Maputo and Moscow.



Credit Suisse and VTB provided or arranged a total of around $2 billion for the project, encompassing tuna fishing, maritime security and shipyard development. Hundreds of millions of dollars went missing, while the benefits never materialised.



Mozambique did not disclose some of the loans, which were guaranteed by the state. The International Monetary Fund and other donors cut off support when they came to light in 2016, triggering a currency collapse and sovereign debt default.



It remains on the hook for the money, the largest chunk of which now sits in a restructured eurobond. The country is trying to challenge the guarantee related to a $622 million loan from Credit Suisse, also in a London court.



The Jubilee Debt Campaign, which calls for the cancellation of unjust or unpayable debts of the poorest countries, said Mozambique should not have to pay a cent towards the loans, which were guaranteed without the approval of Mozambique&#8217;s parliament.



&#8220;The loan guarantee was in clear breach of Mozambican law, and the lenders, companies and politicians involved should all be held to account for their role in the deal,&#8221; Sarah-Jane Clifton, the campaign&#8217;s director, said.



(Additional reporting by Tatiana Voronova in Moscow; Editing by Lisa Shumaker, Kirsten Donovan)

Special Report

5 mental traps that successful people never fall for, according to psychologists

SAA aircraft up for sale

UN food agency says record 45 million people across Southern Africa face hunger

South Africa’s telecoms company Telkom could cut 3,000 jobs -letter to unions

These are the world’s greatest risks

South Africa’s retail sales rose 2.6% year/year in November

These 20 companies around the world are on a hiring spree for work-from-home jobs

Why Kenya’s Treasury cut 2019 growth estimate to 5.6%

In the future there will be more rain but less water in the Nile Basin, what can be done?

Nigeria seeks to boost revenue, support small firms with new finance law, what you need to know…

MTN Nigeria shares up 10% after government withdraws $2 billion tax case

Top 8 retail trends to watch in 2020

Eskom chair Jabu Mabuza resigns from struggling power utility

Op-Ed: From CFA franc to ‘eco’, what you need to know about West Africa’s new currency

These 5 high-paying, growing jobs didn’t exist a decade ago—but they’ll be booming through the 2020s

Applications Open for FORBES AFRICA 30 Under 30 class of 2020

This African country is being sued by Russia’s VTB over loan in $2 billion debt scandal

News Tips

Advertise With Us

Special Report

5 mental traps that successful people never fall for, according to psychologists

SAA aircraft up for sale

UN food agency says record 45 million people across Southern Africa face hunger

South Africa’s telecoms company Telkom could cut 3,000 jobs -letter to unions

These are the world’s greatest risks

South Africa’s retail sales rose 2.6% year/year in November

These 20 companies around the world are on a hiring spree for work-from-home jobs

Why Kenya’s Treasury cut 2019 growth estimate to 5.6%

In the future there will be more rain but less water in the Nile Basin, what can be done?

Nigeria seeks to boost revenue, support small firms with new finance law, what you need to know…

MTN Nigeria shares up 10% after government withdraws $2 billion tax case

Top 8 retail trends to watch in 2020

Eskom chair Jabu Mabuza resigns from struggling power utility

Op-Ed: From CFA franc to ‘eco’, what you need to know about West Africa’s new currency

These 5 high-paying, growing jobs didn’t exist a decade ago—but they’ll be booming through the 2020s

Applications Open for FORBES AFRICA 30 Under 30 class of 2020

This African country is being sued by Russia’s VTB over loan in $2 billion debt scandal

News Tips

Advertise With Us

Newsletters