By <a href="https://theconversation.com/profiles/ini-dele-adedeji-683312">Ini Dele-Adedeji</a>, <a href="http://theconversation.com/institutions/soas-university-of-london-975">SOAS, University of London</a>


Nigeria is preparing for its general election. But will it be credible? Nigerian voters are well aware that the elections will not be won solely by votes or popular consensus. There are several other variables that influence election results. 

These include the incumbent’s control of state security apparatuses, grassroots structures, and control of institutions such as market traders associations, and the National Union for Road Transport Workers. 

The road transport workers’ union, which acts as a canopy for bus drivers, conductors, and motor park touts in Southwestern Nigeria, has a history of <a href="https://punchng.com/2019-transport-union-warns-members-in-lagos/">providing foot soldiers for employment as election thugs</a> with skills in ballot box snatching and voter intimidation tactics. 

In addition, the possibility that the election could be rigged cannot be ignored. 

Questions around the credibility of elections in post-independence Nigeria can be traced as far back as the “<a href="http://countrystudies.us/nigeria/68.htm">First Republic</a>” which lasted from 1960 &#8211; 1966. After allegations of massive rigging in the 1965 elections the country’s western region was engulfed in the infamous “<a href="https://www.tandfonline.com/doi/full/10.1080/02589001.2010.512737">Operation Wet-ie</a>” riots. 

The riots pitted rival political groups against each other leading to <a href="https://www.bbc.com/news/world-africa-35312370">Nigeria’s first military coup</a> in 1966. From then on the country experienced a series of coups. Between 1966 and 1999, when the country made a <a href="https://www.independent.co.uk/news/nigeria-ends-15-years-of-military-rule-1077682.html">decisive break with military politics</a>, Nigeria experienced <a href="http://news.bbc.co.uk/2/hi/africa/83449.stm">eight military coups</a>. In that same time period three general elections were conducted. 

<h2>Tumultuous past</h2>

The years outside of military rule were comparatively brief and arguably overshadowed by the spectre of the military. When elections did happen they were plagued by <a href="https://www.foreignaffairs.com/articles/nigeria/2007-07-01/nigerias-rigged-democracy">strong allegations of electoral fraud</a>. Since 1999, when the country broke with military rule, five elections have been conducted all of which have been tainted by controversy.

It’s clear to see that Nigeria has survived a tumultuous political history. Going into this next election, questions still remain about the credibility of the country’s electoral system, and the viability of it’s governance structures. Looking back things have often gone wrong, but are there instances where things have worked out well for the electorate?

I would argue that there have at least two instances when voters got what they asked for. One is the <a href="https://www.nytimes.com/1993/06/24/world/nigerian-military-rulers-annul-election.html">June 1993 presidential election</a>, which is considered to have been relatively free and fair in its conduct, its eventual annulment notwithstanding. Another is the presidential election of May 2015 when the incumbent Goodluck Jonathan, <a href="https://edition.cnn.com/2015/03/31/world/nigeria-election/index.html">gracefully accepted defeat</a> by conceding to President Muhammadu Buhari.

Yet I still feel that Nigeria’s electoral system needs a complete overhaul if it’s to perform its functions with as little external interference as possible.

<h2>Shadow of military rule</h2>

The country has been ruled by military administrators more than it has by democratically elected leaders. For 29 years of Nigeria’s independent history military dictators have had a grip on its leadership. This is compared to just 20 years of democracy. The result has been that electoral rigging and malpractice are rife within Nigeria’s electoral process. 

Since 1999, Olusegun Obasanjo and Muhammadu Buhari, both of whom were previously military dictators spent a combined 12 years in power. President Buhari is now seeking a second term. As a result, there are still those who argue that the country’s transition from military rule to democracy is <a href="https://punchng.com/nigeria-still-under-shadows-of-military/">not quite complete</a>.

The executive arm, for example, still maintains certain authoritarian characteristics that are reminiscent of the military era. One of these is the use of the armed forces to manipulate election processes. For instance, during the recent gubernatorial elections in Ekiti and Osun states <a href="https://www.crisisgroup.org/africa/west-africa/nigeria/268-nigerias-2019-elections-six-states-watch">voter intimidation by the security forces</a> was rife. This was done to scare away opposition voters and give the ruling All Progressives Congress an edge. 

<h2>The electoral commission</h2>

Another factor to consider is the supposed independence and impartiality of the Independent National Electoral Commission which is in charge of running the elections. Critics point to the fact that the commission chairperson and others in the commission are <a href="https://allafrica.com/stories/201003230023.html">nominated by the president</a>. This calls into question <a href="https://punchng.com/should-president-retain-power-to-appoint-inec-chairman/">the credibility</a> of the entire electoral commission. 

Further, Buhari has just <a href="https://www.thecable.ng/inec-picks-amina-zakari-as-head-collation-centre-for-elections">appointed Amina Zakari</a> as the new collation officer. Zakari will oversee the committee responsible for the national collation centre from where results of the presidential election will be announced. But Zakari has <a href="https://www.vanguardngr.com/2019/01/inec-who-is-this-amina-zakari/">been alleged to have a family relationship with the president</a>. This has raised suspicion within opposition circles that the government intends to rig the polls. 

To make matters worse, the behaviour of the electoral commission in previous elections hasn’t always been above reproach. This has lent credence to the criticisms bout the body’s impartiality. In the run up to the 2007 general for example, the Supreme Court ruled that the commission had <a href="https://allafrica.com/stories/200704170002.html">no power to disqualify candidates in the eleventh hour</a> as it had purported to do in the case of opposition candidate Atiku Abubakar. 

The opaque nature in which recent gubernatorial elections have been held has also added to the fears of a rigged presidential poll. The September 2018 gubernatorial election in Osun, for example, was panned by election observers as being <a href="https://www.premiumtimesng.com/news/headlines/286920-just-in-osunrerun-us-eu-uk-observers-speak-on-governorship-election-rerun.html">riddled with voting irregularities</a> like voter harassment, and interference by “inappropriate persons”. These irregularities were reinforced by the high number of <a href="http://dailypost.ng/2018/09/26/osun-election-tension-military-replaces-police-rerun/">security officers deployed</a> to the state during the election period. 

The involvement of the security apparatus in tilting this tightly contested election in favour of the ruling All Progressives Congress is considered to be an indicator of how things could pan out in the general election. 

<h2>Role of outsiders</h2>

Observers like the European Union and the US also exert a measure of influence on Nigerian elections. By <a href="https://www.premiumtimesng.com/news/headlines/306152-elections-u-s-expresses-concerns-over-neutrality-of-nigerias-security-services.html">ramping up the rhetoric</a> on the importance of free and fair elections they play into the hands of the opposition who have historically appealed to foreign powers to umpire the electoral process. 

Incumbent governments, on the other hand, have typically been on the other side of the argument. Nigerian governments have often cited what they call the “neo-imperialism” of countries like the UK and the US and decried their interference in Nigeria’s sovereignty. This resistance to foreign interference was most recently evidenced in comments made by Kaduna State governor, Nasir El-Rufai, who <a href="https://www.vanguardngr.com/2019/02/youll-leave-nigeria-in-body-bags-if-el-rufai-tells-foreign-powers/">threatened foreign observers with death</a> if they engaged with local politicians.

Former president Goodluck Jonathan also trotted out the “foreign interference” trope when he claimed in his <a href="https://allafrica.com/stories/201812120663.html">recently published memoir</a> that the US played a hand in ensuring that he lost the 2015 election. 

And a few weeks ago the ruling All Progressives Congress joined the bandwagon when they <a href="https://punchng.com/%E2%80%8Ecjn-nigeria-no-longer-a-colony-oshiomhole-replies-uk-us-eu/">issued a statement</a> telling the EU to not undermine Nigeria’s sovereignty.

<h2>Not all grim</h2>

Despite all of the above, it’s not all grim. There are some positive precedents that can be built on. 

For example, despite predictions that there would election violence during the 2015 poll, Jonathan did the honourable thing by <a href="https://www.youtube.com/watch?v=x_4EcfSHUDQ">conceding defeat</a> to Buhari. 

His concession reinforced the notion that elections need not be a “do or die” affair. This peaceful transition after just one presidential term in office also set a positive trend for elections across Africa. 

But with the slim margin between the incumbent, Buhari, and his main contender Abubakar of the People’s Democratic Party – this narrative might need to be reinforced when Nigeria goes to the polls again on February 16.<img loading="lazy" decoding="async" src="https://counter.theconversation.com/content/111093/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/ini-dele-adedeji-683312">Ini Dele-Adedeji</a>, Teaching Fellow, Politics &#038; Development Studies, <a href="http://theconversation.com/institutions/soas-university-of-london-975">SOAS, University of London</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/nigeria-has-a-history-of-dodgy-elections-will-it-be-different-this-time-111093">original article</a>.

Nigeria prepares for elections, is the country’s electoral system credible ?

<a href="https://www.cnbc.com/emmie-martin/">By Emmie Martin</a>



Amazon CEO Jeff Bezos has <a href="https://www.cnbc.com/2019/02/07/jeff-bezos-accuses-national-enquirer-publisher-of-blackmail-extortion.html">accused the National Enquirer and its publisher, American Media Inc., of blackmail and extortion</a>.



In a&nbsp;<a href="https://medium.com/@jeffreypbezos/no-thank-you-mr-pecker-146e3922310f">blog post published Thursday</a>&nbsp;that included copies of his email correspondence, he wrote that AMI threatened to make public compromising photographs of him. AMI called those images newsworthy because, he wrote, they would &#8220;show Amazon shareholders that my business judgment is terrible.&#8221;



In a statement Friday,&nbsp;<a href="https://www.cnbc.com/2019/02/08/national-enquirer-publisher-believes-it-acted-lawfully-on-bezos-story-vows-to-investigate-matter.html">AMI maintained it did nothing illegal</a>&nbsp;but said it would begin an internal investigation.



CNBC&#8217;s&nbsp;<a href="https://www.cnbc.com/2019/02/08/cramer-on-bezos-blackmail-if-youre-selling-amazon-off--this-youre-really-stupid.html">Jim Cramer has warned investors</a>, &#8220;If you&#8217;re selling Amazon off this, you&#8217;re really stupid.&#8221;



Other analysts agree. &#8220;I don&#8217;t think the allegations have a direct line into the fundamentals of Amazon,&#8221;&nbsp;<a href="https://www.cnbc.com/2019/02/08/amazon-analysts-shrug-off-bezos-enquirer-saga-see-no-impact-on-the-stock.html">said Anthony DiClemente, an internet analyst at Evercore ISI</a>. &#8220;Certainly from a public relations standpoint, I don&#8217;t think it&#8217;s ideal. When you look at the fundamentals, it&#8217;s hard to imagine it will have a negative impact.&#8221;



<a href="https://www.cnbc.com/quotes/?symbol=AMZN">Amazon</a>&nbsp;shares were down 2 percent in early trading Friday. Still, if you had invested $1,000 in Amazon in February 2009, your initial outlay would be worth more than $23,600 as of February 2019, according to CNBC calculations. That&#8217;s an increase of more than 2,000 percent.



While Amazon&#8217;s stock has performed well, any individual stock can <a 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 href="https://www.cnbc.com/2018/04/03/avoid-these-4-investing-mistakes.html">past returns do not predict future results</a>.



<figure class="wp-block-image is-resized"><img loading="lazy" decoding="async" src="http://cnbc.africa/wp-content/uploads/2019/02/amazon.jpg" alt="" class="wp-image-327890" width="610" height="409"/></figure>



Amazon&#8217;s stock prices as of Feb. 8, 2019, at 11:18 a.m. ET. 



So far, 2019 has been a mediocre year for Amazon. The company is up about 5 percent this year, but it has underperformed the market&#8217;s 7 percent gain.



On the heels of a hugely successful 2018, investors are starting to have concerns about the company&#8217;s spending — but not its founder&#8217;s personal life. In early January,&nbsp;<a href="https://www.cnbc.com/jeff-bezos/">Bezos</a>&nbsp;announced that&nbsp;<a href="https://www.cnbc.com/2019/01/09/jeff-bezos-and-wife-mackenzie-are-divorcing-.html">he and his wife are divorcing</a>.



There have been a few highlights, though. In January, the e-commerce giant briefly&nbsp;<a href="https://www.cnbc.com/2019/01/07/amazon-passes-microsoft-market-value-becomes-largest.html">surpassed Microsoft</a>&nbsp;to become the largest publicly traded company in the U.S. by market cap when it hit a valuation of $789 billion and later ended that day at a value of $797 billion. Apple fell to fourth place, trailing both Microsoft and Alphabet.



As of Feb. 8, Amazon has a&nbsp;<a href="https://www.cnbc.com/quotes/?symbol=AMZN">market cap of around $775 billion</a>. Microsoft and Apple are in a tight race for first place: Both hold fluctuating market caps of more than $800 billion.



<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">&#8220;If you&#8217;re selling Amazon off this, you&#8217;re really stupid.&#8221;-Jim Cramer, CNBC</blockquote>



Amazon is&nbsp;<a href="https://www.cnbc.com/2019/01/07/amazon-stock-could-surge-20-percent-in-2019-analyst-says.html">expected to see shares surge more than 20 percent in 2019</a>, according to a recent report from Pivotal Research Group.



In the note published in early January, analyst Brian Wieser predicted a $1,920 year-end price target for the retailer. That would mark a 21 percent rise in the price of the company&#8217;s stock and put Amazon&#8217;s valuation close to $1 trillion.



&#8220;Despite its current massive size, we see Amazon&#8217;s opportunities as mostly unconstrained based on a successful track record of capitalizing on consumer and IT department spending,&#8221; Wieser wrote.



The research note forecasts that Amazon&#8217;s digital advertising business will continue to be a major source of revenue growth. In 2018, the sector grew more than 70 percent and earned Amazon the <a href="https://www.cnbc.com/2018/09/19/amazon-third-largest-digital-ad-platform-behind-facebook-google.html">third-most digital ad sales for the year</a>, behind only Google and Facebook, according to market research company e-Marketer.



This article was first published by CNBC https://www.cnbc.com/2019/02/08/how-much-a-1000-dollar-investment-in-amazon-10-years-ago-would-be-worth-now.html?recirc=taboolainternal and is republished with its permission.

If you invested $1,000 in Amazon 10 years ago, here’s how much you’d have now

By <a href="https://theconversation.com/profiles/lauren-hermanus-403160">Lauren Hermanus</a>, <a href="http://theconversation.com/institutions/university-of-cape-town-691">University of Cape Town</a> and <a href="https://theconversation.com/profiles/catrina-godinho-686367">Catrina Godinho</a>, <a href="http://theconversation.com/institutions/university-of-cape-town-691">University of Cape Town</a>


South African President Cyril Ramaphosa has unveiled a new plan for the country’s beleaguered state owned power utility, Eskom. During his <a href="https://www.gov.za/speeches/president-cyril-ramaphosa-2019-state-nation-address-7-feb-2019-0000">State of the Nation Address</a> on 7 February, Ramaphosa announced that Eskom would be unbundled into “three separate entities – generation, transmission and distribution”. These would all be established “under Eskom Holdings”. 

This announcement has been a long time coming. It was first proposed and formalised 20 years ago in the country’s <a href="http://www.energy.gov.za/files/policies/whitepaper_energypolicy_1998.pdf">1998 White Paper on Energy Policy</a>. Among other things, the policy sought to break Eskom into distinct smaller entities.

Ramaphosa’s speech was the seventh State of the Nation Address in which a president committed to structural reforms in the electricity sector. Former Presidents <a href="https://www.sahistory.org.za/archive/2001-president-mbeki-state-nation-address-9-february-2001">Thabo Mbeki</a> and <a href="https://www.sahistory.org.za/archive/2010-president-zuma-state-nation-address-11-february-2010-0">Jacob Zuma</a> made similar promises. Given that they never followed through, Ramaphosa’s announcement may sound all too familiar – and hollow – to some.

But we believe the unbundling will have far reaching consequences for South Africa’s energy sector. Ramaphosa offered a comprehensive outline of the plan. His commitment also comes at a time when <a href="https://www.parliament.gov.za/storage/app/media/Links/2018/November%202018/28-11-2018/Final%20Report%20-%20Eskom%20Inquiry%2028%20NOV.pdf">Eskom is mired in financial, operational and governance crises</a>. This time, it seems, an electricity reform may really be on the horizon.

<h2>Unbundling explained</h2>

<a href="https://www.powerfutures.org/updates/2019/2/6/what-is-unbundling-understanding-electricity-sector-unbundling-in-sa">Unbundling</a> is a type of structural reform. In the electricity sector, vertical unbundling refers to the separation of a utility’s generation, transmission, distribution and (sometimes) retail functions. Horizontal unbundling refers to the creation or entry of multiple players into each of these functions. The players may compete against each other to deliver the same service. 

South Africa is certainly not the first country to undergo this type of reform. It can learn from examples of similar processes in countries like <a href="https://elibrary.worldbank.org/doi/abs/10.1596/9780821395561_CH19">Kenya</a> and <a href="https://www.era.or.ug/index.php/sector-overview/uganda-electricity-sector">Uganda</a>. 

There are a number of benefits associated with unbundling. These include: 

<ul>
<li>more efficiency, resilience and sustainability through a tighter focus and clearer incentives within each functional area; </li>
<li>More competition and diversification of players; </li>
<li>Clarity in costs and functions of unbundled entities, which increases accountability for the purposes of governance and oversight; and,</li>
<li>Low-cost procurement driven by effective planning, competition and transparency.</li>
</ul>

Eskom currently operates as a vertically integrated monopoly. This means it performs the generation, transmission, distribution and retail functions. Its current structure and governance systems were cemented by apartheid’s internationally isolated security state. This outdated structure, which is characterised by a lack of transparency and accountability, has continued to shape the utility in the years since democracy.

There is a narrow window for municipalities and the private sector to play a role in distribution and retail, and generation, respectively. 

But Eskom still generates approximately <a href="http://www.eskom.co.za/Whatweredoing/SupplyStatus/Pages/SupplyStatusT.aspx">95% of the country’s electricity</a>. It exercises tremendous power in controlling access to the national grid. It has used its dominance to oppose national energy policy by, for example, <a href="https://www.iol.co.za/business-report/energy/disagreement-over-benefit-of-ipp-projects-for-sa-14277850">refusing to sign power purchase agreements</a> with independent power producers.

<h2>South Africa is lagging behind</h2>

This kind of monopolistic structure is unusual by international standards, in both developed and developing countries. And it often comes with operational inefficiencies, bloated costs and poor governance. 

Eskom has experienced all of these maladies. This has been demonstrated by its conduct with independent power producers, its role in the <a href="https://www.fin24.com/Economy/Eskom/eskom-powers-ahead-with-nuclear-plans-report-shows-20171117">controversial nuclear deal</a>, which has now been put on ice, and endemic corruption exposed by the portfolio <a href="https://www.parliament.gov.za/storage/app/media/Links/2018/November%202018/28-11-2018/Final%20Report%20-%20Eskom%20Inquiry%2028%20NOV.pdf">committee on public enterprises’ inquiry</a> into allegations of state capture at the utility.

These challenges are not unique to South Africa. But the country is behind the curve when it comes to addressing the structural factors and ensuring that its energy sector is well positioned to benefit from technological developments and shifting investment trends.

<h2>What Ramaphosa’s announcement means</h2>

President Ramaphosa has committed to the full vertical unbundling of Eskom. Generation, transmission and distribution companies will have their own boards and executive structures. This process will take time to implement, probably in the region of <a href="https://www.powerfutures.org/updates/2019/2/6/what-is-unbundling-understanding-electricity-sector-unbundling-in-sa">five years</a>.

It will require legislative and possibly policy reform. Due to the urgent need for transformation in the sector, the president said immediate attention should be given to the establishment of an independent, state owned transmission grid company. 

A good starting point for the unbundling process would be the establishment of an Eskom subsidiary with its own board. This subsidiary would oversee the migration of relevant assets and personnel. The intention would be to combine the transmission, system operation, power planning, procurement and buying functions. This separation is intended to leave the grid company free to contract independent power producers and Eskom generation without the conflict of interest that currently exists. As it stands, Eskom transmission is incentivised to give its own generation plants preference, blocking new technology and new entrants to bolster its own operations. 

It’s not only the president’s explicit commitment to a comprehensive reform plan that makes this announcement different from those that came before. The sector is in a fundamentally different situation compared to the early 2000s and early 2010s. 

Eskom is in the midst of extreme financial, operational and governance crises which it will not be able to solve alone, especially within the context of the complex <a href="https://irena.org/publications/2018/Apr/Global-Energy-Transition-A-Roadmap-to-2050">global energy transition</a>. 

But, to ensure this plan doesn’t go the way of its predecessors, Ramaphosa must ensure meaningful consultation and dialogue with all key stakeholders, as well as credible and sustainable plans to address the needs of all those who may be affected. Without this, the president’s announcement will meet the same fate as previous South African energy policy reform pronouncements. Reform is a complex social and technical process. It is not without risk and costs. This time, however, failure of implementation is not something the country can afford.<img loading="lazy" decoding="async" src="https://counter.theconversation.com/content/111480/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/lauren-hermanus-403160">Lauren Hermanus</a>, Research associate, <a href="http://theconversation.com/institutions/university-of-cape-town-691">University of Cape Town</a> and <a href="https://theconversation.com/profiles/catrina-godinho-686367">Catrina Godinho</a>, Research associate, <a href="http://theconversation.com/institutions/university-of-cape-town-691">University of Cape Town</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/why-south-africas-latest-plan-for-state-owned-power-giant-could-work-111480">original article</a>.

Here’s why South Africa’s new plan for state-owned power utility Eskom could work

<a href="https://www.cnbc.com/abigail-hess/">By Abigail Hess</a>



Trendy offices with <a href="https://www.nytimes.com/2016/04/19/business/media/ad-agencies-need-young-talent-cue-the-bean-bag-chairs.html">beanbag</a> chairs and<a href="https://www.nytimes.com/2018/10/23/business/office-building-ameneties.html"> ping pong tables</a> won&#8217;t keep workers from quitting in <a href="https://www.cnbc.com/2018/12/21/workers-in-2018-quit-their-jobs-to-get-raisesthey-will-next-year-too.html">a tight labor market</a>. According to a new survey, the most coveted work perks let employees control their time — and not all employers have caught up to the demand.



Human resources consulting firm<a href="https://www.roberthalf.com/blog/compensation-and-benefits/popular-perks-incentives-and-benefits?utm_campaign=Press_Release&amp;utm_medium=Link&amp;utm_source=Press_Release">&nbsp;Robert Half</a>&nbsp;surveyed 1,500 workers and 600 HR managers across the country to see which benefits, perks and incentives employees want most and where employers miss the mark.



Overwhelmingly, employees surveyed asked for perks that helped them control their time. &#8220;In the past few years, there&#8217;s been a lot of employee interest in perks that offer greater control over where and when work is done, such as flexible schedules, compressed workweeks and telecommuting options,&#8221; Paul McDonald, senior executive director for Robert Half tells&nbsp;<a href="https://carbon.cnbc.com/103395579">CNBC Make It</a>.



Despite this demand, employers have been slow to meet these needs. While the survey finds that a whopping 88 percent of employees wanted a flexible work schedule, only just 62 percent of their employers offer this kind of flexibility.



The desire for a compressed workweek revealed one of the survey&#8217;s biggest gaps between what employees want and what their bosses provide. Approximately 66 percent of workers said they wanted to work less than five days a week but just 17 percent offer that option.



The tight labor market could force gaps like these to narrow.&nbsp;<a href="https://www.bls.gov/news.release/pdf/jolts.pdf">U.S. workers continue</a>&nbsp;to&nbsp;<a href="https://www.cnbc.com/2018/12/21/workers-in-2018-quit-their-jobs-to-get-raisesthey-will-next-year-too.html">quit their jobs at some of the highest rates</a>&nbsp;in 18 years. Last year, there were more&nbsp;<a href="https://www.cnbc.com/2018/06/05/there-are-more-jobs-than-people-out-of-work.html">unfilled jobs in the United States than there were unemployed workers</a>.



Says McDonald, &#8220;Besides salary, employees are considering factors such as perks, benefits and incentives when deciding whether to join or stay with a company. And with competition for skilled talent remaining high, today&#8217;s professionals have more options than ever in these areas.&#8221;



&#8220;Savvy employers are catching on to the fact that employees are increasingly demanding better work-life balance and the opportunity to get work done at non-traditional places and times,&#8221; adds Jim Link, chief human resources officer (North America) at global recruitment agency&nbsp;<a href="https://carbon.cnbc.com/1512766">Randstad</a>. &#8220;The four-day workweek is a perfect example of that.&#8221;



Even billionaire businessman&nbsp;<a href="https://carbon.cnbc.com/105625999">Richard Branson has predicted</a>&nbsp;the end of the five-day workweek saying, &#8220;The idea of working five days a week with two day weekends and a few weeks of holiday each year has become ingrained in society. But it wasn&#8217;t always the case, and it won&#8217;t be in the future.&#8221; Branson argues that technology will allow workers to be more productive and to work more flexibly.



&#8220;Offering employees a designated time to take care of personal responsibilities alleviates worker stress, allows them to focus their attention on key projects while in the office and also leads to a decrease in unplanned absences,&#8221; says McDonald.



To be sure, compressed weeks work better for certain types of companies and positions than others, McDonald says. &#8220;The nature of some businesses require staff coverage and customer service during key hours.&#8221;



Still, some experts say this more flexible future is not far away. &#8220;I believe that in this century, we can win a four-day working week, with decent pay for everyone,&#8221; Frances O&#8217;Grady, general secretary of British labor union organization<a href="https://www.tuc.org.uk/about-tuc-1"> Trades Union Congress</a> predicted in September.



This article was first published by CNBC https://www.cnbc.com/2019/02/10/66percent-of-workers-want-a-4-day-workweekjust-17percent-of-employers-offer-one.html and is republished with its permission.

66% of workers polled want a 4-day workweek—why just 17% of their employers offer it

JOHANNESBURG (Reuters) &#8211; South African state power utility Eskom said on Monday that it would implement controlled power cuts for a second day in a row because of a shortage of generating capacity.



Eskom said it would cut 2,000 megawatts from the national grid from 0700 GMT, likely until 2000 GMT.



Reporting by Alexander Winning; Editing by Kim Coghill

South Africa’s power utility Eskom to implement #LoadShedding for a second day in a row

JOHANNESBURG (Reuters) &#8211; South Africa’s National Union of Mineworkers (NUM) on Friday urged President Cyril Ramaphosa to reconsider his plan to split state power firm Eskom into three separate entities, saying it would lead to large-scale job losses.



“The NUM is going to fight tooth and nail against the unbundling of Eskom,” the union, which says it has more than 15,000 members at Eskom, said in a statement. “It is the privatisation of Eskom to enrich the elites.”



Reporting by Alexander Winning; Editing by Joe Brock

Should South Africa’s president Ramaphosa scrap Eskom split plan ? NUM thinks he should, here’s why

By <a href="https://theconversation.com/profiles/theo-neethling-393531">Theo Neethling</a>, <a href="http://theconversation.com/institutions/university-of-the-free-state-1944">University of the Free State</a>


Much has been made about China’s role and profile in Africa and the factors <a href="https://www.brookings.edu/research/africa-in-chinas-foreign-policy/">underlying its activities</a> on the continent. Less debated is the spread and depth of Russia’s contemporary presence and profile in Africa.

There was a strong Russian influence in Africa during the heyday of the <a href="https://www.sahistory.org.za/topic/union-soviet-socialist-republic-ussr-and-anti-apartheid-struggle">Soviet Union</a>. The post-independence governments of Angola, Mozambique, Guinea-Bissau, Democratic Republic of Congo, Egypt, Somalia, Ethiopia, Uganda and Benin at some point all received diplomatic or <a href="https://www.tandfonline.com/doi/pdf/10.1080/02589008108729373">military support</a> from the Soviet Union. 

But this began to change after the superpower started to collapse in <a href="https://www.britannica.com/event/the-collapse-of-the-Soviet-Union">December 1991</a>. More than a quarter of a century later Russia’s President Vladimir Putin seems to have new aspirations in Africa. This is in line with his desire to <a href="https://journals.sagepub.com/doi/pdf/10.1177/1478929915623967">restore Russia to great power status</a>.

Putin places a high premium on geopolitical relations and the pursuit of Russian assertiveness in the <a href="https://journals.sagepub.com/doi/pdf/10.1177/1478929915623967">global arena</a>. This includes reestablishing Russia’s sphere of influence, which extends to the <a href="https://www.washingtonpost.com/news/monkey-cage/wp/2014/03/06/how-putins-desire-to-restore-russia-to-great-power-status-matters/?utm_term=.766a992f312e">African continent</a>.

Like Beijing, Moscow’s method of trade and investment in Africa is without the prescriptions or <a href="https://www.diva-portal.org/smash/get/diva2:277664/FULLTEXT01.pdf">conditionalities</a> of actors like the International Monetary Fund and the World Bank. 

Russia is gradually increasing its <a href="https://issafrica.org/iss-today/russia-and-africa-meet-again">influence in Africa</a> through strategic investment in energy and minerals. It’s also using military muscle and soft power. 

Increasingly, the pressing question is: is the relationship between China and Africa as good for Africa as it is for China? The same question applies to <a href="https://www.forbes.com/sites/panosmourdoukoutas/2018/08/04/china-is-treating-africa-the-same-way-european-colonists-did/#729c3b72298b">Russia-Africa relations</a>.

<h2>Energy and minerals</h2>

Interaction between Russia and Africa has grown exponentially this century, with trade and investment growing by 185% <a href="https://issafrica.org/iss-today/russia-and-africa-meet-again">between 2005 and 2015</a>.

Economically, much of Russia’s focus in Africa centres on <a href="https://issafrica.org/iss-today/russia-and-africa-meet-again">energy</a>. Key Russian investments in Africa are in the <a href="http://www.nbs.ntu.edu.sg/NewsnEvents/Pages/Inthemedia-Details.aspx?news=2f0e3381-39a8-4c98-92f1-d54e19799c6e">oil, gas and nuclear power sectors</a>. 

The fact that 620 million people in Africa <a href="https://www.weforum.org/agenda/2016/09/africa-s-energy-poverty-is-keeping-its-people-poor">don’t have electricity</a> provides Russia’s nuclear power industry with potential markets. Several Russian companies, such as Gazprom, Lukoil, Rostec and Rosatom are active in Africa. Most activity is in Algeria, Angola, Egypt, Nigeria and Uganda. In Egypt, negotiations have already been finalised with Moscow for the building of <a href="https://www.power-technology.com/projects/el-dabaa-nuclear-power-plant/">the country’s first nuclear plant </a>.

These companies are mostly state-run, with investments often linked to military and diplomatic interests. 

Moscow’s second area of interest is Africa’s mineral riches. This is particularly evident in Zimbabwe, Angola, the Democratic Republic of Congo, Namibia and the Central African Republic.

In Zimbabwe, Russia is developing one of the world’s largest deposits of <a href="https://www.reuters.com/article/us-zimbabwe-mining-platinum/russian-zimbabwean-firm-to-invest-400-million-in-zimbabwe-platinum-idUSKCN1GR222">platinum group metals</a>.

Russia has also been reestablishing links with Angola, where Alrosa, the Russian giant, <a href="http://eng.alrosa.ru/the-deal-to-increase-alrosas-participation-in-catoca-is-approved-by-the-president-of-angola/">mines diamonds</a>. Discussions between Russia and Angola have also focused on hydrocarbon production.<a href="https://www.observer.com.na/index.php/national/item/8142-russians-rekindle-interest-in-nuclear-plant">Uranium in Namibia</a> is another example.

Russia’s current controversial involvement in the Central African Republic (CAR) began in 2017, when a team of Russian military instructors and <a href="https://www.rferl.org/a/explainer-what-russian-military-contractors-are-doing-in-central-african-republic/29405290.html">170 “civilian advisers”</a> were sent by Moscow to Bangui to train the country’s army and presidential guard. Shortly after that, nine <a href="https://www.ozy.com/fast-forward/russias-new-african-launch-pad-the-central-african-republic/89176">weapons shipments</a> arrived in the CAR.

Interest in the country has focused on exploring its natural resources on a concession basis. The murder of <a href="https://www.theguardian.com/world/2018/aug/01/russian-journalists-killed-central-african-republic-investigating-military-firm-kremlin-links">three Russian journalists</a> in a remote area of the country last year focused the world’s attention on what looked like a Kremlin drive for influence and resources. 

<h2>Military influence and diplomacy</h2>

Russia is the second largest exporter of arms globally, and a <a href="https://issafrica.org/iss-today/russia-and-africa-meet-again">major supplier to African states</a>. Over the past two decades it has pursued military ties with various African countries, such as Ethiopia, Nigeria and Zimbabwe. 

Military ties are linked to <a href="https://www.ozy.com/fast-forward/russias-new-african-launch-pad-the-central-african-republic/89176">bilateral military agreements</a> as well as providing boots on the ground in <a href="https://www.businesslive.co.za/bd/opinion/2018-08-06-death-diamonds-and-russias-push-into-africa/">UN peacekeeping operations</a>. Combined, China and Russia outnumber the other <a href="http://ask.un.org/faq/14518">permanent members of the UN Security Council</a> in contributing troop to UN peacekeeping efforts. 

Russia has also been actively supporting Zimbabwe. Shortly after it was reported in 2018 that China had placed new generation surface-to-air <a href="https://bulawayo24.com/index-id-news-sc-national-byo-143959.html">missiles in Zimbabwe</a>, Russian Foreign Minister Sergey Lavrov announced that his country was pursuing <a href="https://www.reuters.com/article/us-zimbabwe-russia/russia-seeks-military-cooperation-diamond-platinum-projects-in-zimbabwe-idUSKCN1GK2JK">military cooperation</a>. 

Significantly, Zimbabwe’s President Emmerson Mnangagwa has said that his country may need Russia’s help with the modernisation of its defence force during a recent <a href="https://www.reuters.com/article/us-russia-zimbabwe-military/zimbabwe-says-it-may-need-russia-to-help-modernize-its-army-ria-idUSKCN1P90QV">visit to Moscow</a>. 

<h2>Russia, Africa and the future</h2>

Both Russia and China are keen to play a future role in Africa. The difference between these two major powers is that China forms part of the Asian regional economy. This will surpass North America and Europe combined, in terms of global power &#8211; based on GDP, population size, military spending and <a href="https://www.dni.gov/files/documents/GlobalTrends_2030.pdf">technological investment</a>.

China and India have sustained impressive economic growth over many years. And, their enormous populations make them two world powers of extraordinary importance. Growth prospects for the Russian economy, on the other hand, remain modest &#8211; between <a href="http://www.worldbank.org/en/country/russia/publication/rer">1.5% and 1.8%</a> a year for 2018-2010, against the current global average rate of 3.5% a year. 

Still, Russia remains a major power in global politics. For African leaders, the key word is agency and the question is how to play the renewed Russian attention to their countries’ advantage, and not to fall victim to the contemporary <a href="https://issafrica.org/iss-today/russia-and-africa-meet-again">“geopolitical chess”</a> game played by the major powers on the continent.<img loading="lazy" decoding="async" src="https://counter.theconversation.com/content/110930/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/theo-neethling-393531">Theo Neethling</a>, Professor and Head: Political Studies and Governance in the Humanities Faculty, <a href="http://theconversation.com/institutions/university-of-the-free-state-1944">University of the Free State</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-russia-is-growing-its-strategic-influence-in-africa-110930">original article</a>.

Russia is growing its strategic influence in Africa, here’s how the country is doing this

By <a href="https://www.cnbc.com/marianne-hayes/">Marianne Hayes</a>



Student loans are no joke. The average borrower has a<a href="https://www.magnifymoney.com/blog/college-students-and-recent-grads/average-student-loan-debt-statistics/"> debt of $36,614 across at least three different loans</a>. It&#8217;s little wonder that student debt is the second-largest source of consumer debt in the United States, right behind mortgages.



The silver lining? &#8216;Tis the season of taxes, which could remove a sizable dent in your balance. Here are four ways to make the most out of your tax refund and shore up your financial health:



<h4 class="wp-block-heading">1. Pay off high-interest debt</h4>



If student loans are your highest-interest debt, a windfall of cash would be well spent on paying down your balance. This translates to a lump-sum payment you can direct right toward your principal balance.



Keep in mind that logging into your loan service website and making a bigger payment may not be enough. Some providers treat it like an early payment for your next installment due, so that money could end up going toward outstanding fees or interest. And if you have multiple loans, it could spread across all those balances, essentially diluting your efforts. Make sure you double-check with your loan provider that the money will be go toward your principal balance.



<h4 class="wp-block-heading">2. Refinance to invest in your future</h4>



<a href="https://www.magnifymoney.com/blog/college-students-and-recent-grads/refinancing-a-student-b-loan1091646352/?utm_expid=85770004-68.mmjBTVE3S0258ndVTgeAGA.1">Refinancing</a>&nbsp;your student loans is a great way to make your payments more manageable. When you refinance, you use one loan to pay off multiple outstanding balances. You&#8217;ll also have new repayment terms and, hopefully, a lower interest rate.



Typically, you can refinance both your federal and private student loans together. (Warning: When you refinance, your new loan will be from a private lender, so you may lose federal protections like income-driven repayment plans, loan forgiveness and deferment or forbearance).



<h4 class="wp-block-heading">3. Pay off loans and still treat yourself</h4>



Being too hardcore about paying off your student loans leaves little room for, well, life. And depriving yourself of little pleasures may actually make you more likely to backslide and slip up. If you can financially afford it, use just a portion of your refund to pay off student debt and the remaining amount for reasonable splurges that&#8217;ll make life an enjoyable experience.



You could even use the money to start a side business or passion project. Whether it&#8217;s selling handmade crafts on Etsy or launching your own blog, you can monetize your hobbies and turn them into long-term passive income streams. Remember: There&#8217;s nothing wrong with treating yourself. In fact, it&#8217;s vital to your long-term success. The trick is to find a healthy balance that doesn&#8217;t derail your big-picture financial health.



<h4 class="wp-block-heading">4. Bulk up your emergency fund</h4>



Lastly, it&#8217;s important to note that financial safety nets are vital — even if you have a big student loan balance. The point of having a solid emergency fund is to be able to quickly access it in an emergency (i.e., an unexpected car repair, medical bill or job layoff), so having it tied up in your 401(k) isn&#8217;t ideal. Instead, consider parking it in a high-yield&nbsp;<a href="https://www.magnifymoney.com/blog/earning-interest/best-online-savings-accounts275921001/">online savings account</a>.



Most experts agree that saving up an emergency fund that&#8217;s equal to three to six months&#8217; worth of expenses is a good cushion, butmore is<a href="https://www.cnbc.com/2018/11/01/david-bach-heres-how-much-money-you-need-in-your-emergency-fund.html">always better</a>. That means if all your monthly bills add up to $3,500 per month, you should aim to gradually sock away $10,500 to $21,000. (Don&#8217;t panic; you won&#8217;t get there overnight. At the end of the day, having just $1,000 on hand could get you through your next hiccup.)



<a href="http://mariannehayes.com/">Marianne Hayes</a>is a freelance writer and content marketing specialist. She covers everything from personal finance to spiritual growth. Her work has been published in <a href="https://www.magnifymoney.com/">MagnifyMoney</a>, Cosmopolitan, Redbook, Good Housekeeping and Forbes. Follow her on Twitter <a href="https://twitter.com/hayesmarianne">@hayesmarianne</a>



This article was first published by CNBC https://www.cnbc.com/2019/02/07/4-smart-ways-to-spend-your-tax-refund-if-you-have-student-debt.html and is republished with its permission.

South Africa's Quantum Foods warns of 38% drop in first-half profit

South Africa’s Quantum Foods warns of 38% drop in first-half profit. budget_shutterstock_249974521

Stuck in student loans? Don’t blow your tax refund — here are 4 smart ways to spend it

By Gary Van Staden, Senior Political Analyst at NKC African Economics



With
an election around the corner, it was always a little unrealistic to expect the
State of the Nation Address (Sona) given by the South African president in Cape
Town on Thursday, February 7, to be an era-defining speech. 



President
Cyril Ramaphosa delivered a talk more tilted toward the African National
Congress (ANC) than the country, but what politician would have done anything
different? Under sweltering heat-wave conditions there was nothing unexpected –
apart from the rather sudden announcement of May 8 as the date for this year’s
general election – but the tone was positive and left listeners with the
feeling that, certainly in terms of the economy, there was some prospect of an
improvement. 



Mr
Ramaphosa covered all the bases he had been expected to cover, including
announcing that power utility Eskom would be split into three entities,
responsible respectively for generation, transmission and distribution. 



There
was also, however, a lot of repetition. Mr Ramaphosa spoke about dealing with
corruption, strengthening state institutions, establishing strategic
partnerships in state-owned enterprises (SOEs), better education, more
investment, and more economic development plans – all familiar themes a year
into his presidency. 



To
our mind there was still too big a role for the state in his plans, and too
much superficial mention of “reform” without the major policy shifts that
reform will require. But then again… a May date looms for the ANC to try to
retain power. 



There
was a good dose of calling back the past with plans to reintroduce technical
high schools and formal pre-school learning. Business and investors would not
have found anything disagreeable in the presentation, and enough to be publicly
encouraging. 



That
will help sentiment, but positive sentiment will last only if implementation
and delivery follow the talk, and implementation has been and remains an ANC
weakness. 



Our
understanding from sources close to the Economic Freedom Fighters (EFF) was that
the leftist opposition party would allow its members to make only minor
interjections and not to be altogether disruptive of Sona. Also, there is clear
evidence to suggest that the apparently accidental meetings between Mr
Ramaphosa and opposition leaders, including Julius Malema of the EFF and Mmusi
Maimane of the Democratic Alliance (DA), were no accident. 



So,
Mr Ramaphosa was allowed to proceed with a speech that was a little too much of
all things to all people to provide any real insight into what we can expect
when he delivers his next Sona once the ANC has comfortably won the election
(if the result turns out to be in line with our expectations). 



Some
news channels searching bravely for breaking news in Sona got excited about the
formal announcement of the breakup of Eskom, a policy which had been pushed by
Public Enterprises Minister Pravin Gordhan and expected for some time to be
announced in the speech. We find it disappointing, however, that the three
operations – generation, transmission and distribution – will remain under the
SOE Eskom Holdings when only the natural monopoly of transmission should remain
a state function. 



We
expect that this will mean the companies will remain less efficient than they
could have been if they were sold at least partly to private operators, but it
does provide an opportunity to deal with Eskom’s massive surplus labour
problem. 



The
company is estimated to be overstaffed by between 40% and 60%, and the
restructuring provides a reason for retrenchments, but that is not a topic the
president was willing to tackle in this pre-polls speech. 



Mr
Ramaphosa also mentioned that the utility “will need more revenue through an
affordable tariff increase” and said that more detail about the state’s support
for Eskom would be included in the budget speech that Finance Minister Tito
Mboweni will deliver later this month.



The
plans to deal with Eskom and its financial problems are illustrative of the
whole speech: it was largely anticipated and covered all the bases. It was
somehow underwhelming without being overtly negative. The elections do loom
very large so perhaps we got the best Mr Ramaphosa was prepared to offer
without supplying his opponents – both within and outside of his own party –
with any political ammunition. 



In general, we are encouraged but hold back on too much hope given the ANC’s poor record of translating words into deeds, a weakness that Mr Ramaphosa has not entirely dispelled. Perhaps the main point, given the political tightrope Mr Ramaphosa must walk, is that unlike almost all previous Sonas of the past decade this one was a notch better than neutral rather than downright negative.

﻿Op-Ed: Plenty of heat on the street, but no fire in #SONA2019

JOHANNESBURG (Reuters) &#8211; South Africa’s rand weakened early on Thursday as a bounce-back by the dollar aided by positive economic data put the local currency on the back foot ahead of President Cyril Ramaphosa’s state of the nation address this evening.



At 0640 GMT the rand was 0.17 percent softer at 13.5700 per dollar compared to its close of 13.5475 overnight in New York.



The rand has now retreated around 2.5 percent since last Thursday’s rally to a two-and-a-half year peak, tracking fellow high-yielding emerging market currencies hit by a bout of risk aversion triggered by better U.S. economic data.



On Wednesday the United States reported a narrower trade gap, helping the dollar index to a fifth straight session of gains.



With no top-tier economic data due locally, focus is expected to shift to Ramaphosa’s speech after the market close, with investors looking for clues about the fate of cash-strapped state power firm Eskom.



On Wednesday a monthly measure of business confidence noted concerns about slowing progress in promised reforms to ailing state firms and the broader economy.



Bonds also weakened, with the yield on the benchmark government issue due in 2026 adding 2 basis points to 8.67 percent.



Stocks were set to open lower at 0700 GMT, with the JSE securities exchange’s Top-40 futures index down 0.48 percent.



Reporting by Mfuneko Toyana; Editing by Jan Harvey

South Africa’s rand weakens ahead of President Cyril Ramaphosa’s state of the nation address

PRESS RELEASE



DURBAN, 7 February 2019: Supermodel, Philanthropist, Activist and
Cultural Innovator Naomi Campbell, will headline this year’s FORBES WOMAN
AFRICA Leading Women Summit, hosted by KwaZulu-Natal Provincial Government,
taking place at Durban’s Inkosi Albert Luthuli International Convention Centre
on International Women’s Day &#8211; Friday, 8 March.



“We are truly honoured to be welcoming Naomi Campbell to the fourth
annual FORBES WOMAN AFRICA Leading Women Summit,” commented Methil Renuka,
Managing Editor of FORBES AFRICA and FORBES WOMAN AFRICA, and host of this
year’s event. “Having established herself as a global powerhouse in fashion, Naomi
Campbell has used her fame to benefit vulnerable communities, with much of her
charity work also focused on the African continent. We look forward to engaging
with her at this year’s ‘New Wealth Creators’ summit.”



British-born Naomi Campbell was one of five
original supermodels that revolutionised the fashion industry during the 1990s.
Her work on the runway has seen her grace countless magazine covers, as well as
featuring in numerous television shows, music videos and films. Naomi Campbell has used her unique
position in the spotlight to draw attention to several international charities,
among them the Nelson Mandela Children’s Fund, Made in Africa Foundation,
amfAR, and Breast Health International. 



Her charity work started
alongside Nelson Mandela in 1993, with Madiba bestowing her the title of
‘Honorary Granddaughter’ for her ongoing activism. In 2005, Naomi Campbell established her own charity,
Fashion for Relief which has presented shows in New York, London, Cannes,
Moscow, Mumbai and Dar es Salaam, raising millions of dollars for various worthwhile
causes. 



Sihle Zikalala, the KwaZulu-Natal
Minister for Economic Development, Tourism and Environmental Affairs, said: “We
extend a warm welcome to this year’s headline speaker, Naomi Campbell. We look forward to engaging with her on topics
that will extend the positive impact women in this country, and on the
continent, are having globally. Her involvement in this event indicates the
calibre of this summit, and the strides being taken by African women. We are
proud to have been selected as the host venue for the fourth FORBES WOMAN
AFRICA Leading Women Summit as this gives us an opportunity to showcase the
incredible business opportunities and inviting natural beauty of the place we
call home.”



Attendees to the summit, hosted in association with the IDC, will get
the chance to engage with a selection of the continent’s most influential women
through keynote addresses, panel discussions and personal interviews. In
addition to the daytime networking, attendees to the summit are invited to the
FORBES WOMAN AFRICA Awards’ – a glamorous gala dinner celebrating those who
have made a remarkable impact in the business, sports, science, entertainment
and leadership categories. The gala dinner will take place at Durban’s Inkosi
Albert Luthuli International Convention Centre.



Ticket sales for this dynamic day are now open and includes full access
to the FORBES WOMAN AFRICA Leading Women Summit from 7am to 4pm and the FORBES
WOMAN AFRICA Awards’ Gala Dinner. Tickets are limited so book now!



For more information, visit www.leadingwomensummit.co.za or follow
@LWSummit on various social media platforms (#LWS2019KZN).



The FORBES WOMAN AFRICA Leading Women Summit and the FORBES WOMAN AFRICA
Awards’ Gala Dinner will be produced by ABN Event Productions.

Naomi Campbell announced as headline speaker for the 2019 Forbes Woman Africa Leading Women Summit

By <a href="https://www.cnbc.com/marguerite-ward/">Marguerite Ward</a> and <a href="https://www.cnbc.com/kathryn-dill/">Kathryn Dill</a>



You’ve just landed a coveted job at a new company and the hiring manager presents the organization’s offer for your starting salary.



Do you accept the given number or negotiate for higher pay?



The prevailing wisdom says you should negotiate, but according to bestselling management author and CNBC contributor&nbsp;<a href="https://www.cnbc.com/2017/04/11/suzy-welch-the-career-secret-i-wish-id-known-in-my-20s.html" class="">Suzy Welch</a>, the prevailing wisdom is wrong.



“I know not everyone’s going to agree on my advice on this,” she says, “but here’s the advice I give my own kids: If the salary is within 10 to 15 percent of what you had in your head, say, ‘Yes, thank you. I’m excited. I can’t wait.’”



Waiting, she says, will pay off in the long run.



Data shows women negotiate less often than men, and earn&nbsp;<a href="https://www.cnbc.com/2017/04/04/these-2-simple-language-tricks-could-help-you-get-a-raise.html" class="">less money</a>as a result. But Welch says that asking for a raise at the start could come across as greedy, and&nbsp;<a href="https://www.cfa.harvard.edu/cfawis/bowles.pdf" class="">Harvard research</a>&nbsp;underscores that women are particularly vulnerable to this scrutiny.



“You want to walk in as a team player and be the person who believes that pay comes with performance,” Welch says.



Failing to do so can hurt your career. One woman who Welch describes as “talented” pushed for a 3 percent raise when starting at a new company. But she struggled to settle in and sensed that people were “cold to her in meetings.”



“It wasn’t worth it,” Welch says.&nbsp;Waiting for a raise isn’t just to avoid backlash. It’s also strategic, and “positions you perfectly for asking and getting a significant raise after you’ve done great work.”



Instead of asking for more money to begin with, Welch says you should set up a meeting with your boss six months into the new role. Be sure to&nbsp;<a href="https://www.cnbc.com/2017/04/04/these-2-simple-language-tricks-could-help-you-get-a-raise.html" class="">emphasize your shared goals</a>&nbsp;and how you’ve contributed to the team’s success. Explain how you’ve not only succeeded but over-delivered. Then say, “I hope that will be recognized in my compensation.”



Holding off several months gives you that extra time to show your boss that you recognize pay is performance-driven, as well as build your case for getting a raise. You’ll be more likely to get a larger raise, too.



“Go in with good will, do a great job,” she says, “and in the long run&nbsp;— and usually in the short run too — you’ll see the real reward.”



Suzy Welch is the co-founder of the <a class="" href="http://jwmi.com/?mcv=jdg469">Jack Welch Management Institute</a>and a noted business journalist, TV commentator and public speaker. If you have questions about your own career, email her at gettowork@cnbc.com.



This article was first published by CNBC https://www.cnbc.com/2017/07/18/suzy-welch-the-advice-youve-been-given-about-negotiating-your-salary-is-wrong.html and is republished with its permission.

Improperly appointed boards spell disaster for organisations

Why the advice you’ve been given about negotiating your salary is wrong

KIGALI (Reuters) &#8211; Rwanda said on Tuesday it had signed a $400 million deal to produce bottled gas from Lake Kivu, which emits such dense clouds of methane it is known as one of Africa’s “Killer Lakes”. 



The project by Gasmeth Energy, owned by U.S. and Nigerian businessmen and Rwandans, would suck gas from the lake’s deep floor and bottle it for use as fuel. This should, in turn, help prevent toxic gas bubbling to the surface.



The seven-year deal, signed on Friday, was announced on Tuesday.



Rwanda already has two companies that extract gas from Lake Kivu to power electricity plants.



Clare Akamanzi, chief executive of the Rwanda Development Board, told Reuters bottled methane would help cut local reliance on wood and charcoal, the fuels most households and tea factories use in the East African nation of 12 million people.



“We expect to have affordable gas which is environmentally friendly,” she said. “We expect that people can use gas instead of charcoal, the same with industries like tea factories instead of using firewood, they use gas. It’s part of our green agenda.”



The deep waters of Lake Kivu, which lies in the volcanic region on Rwanda’s border with the Democratic Republic of Congo, emit such dense clouds of methane that scientists fear they might erupt, killing those living along its shore.



Eruptions from much smaller methane-emitting lakes in Cameroon, one causing a toxic cloud and another sparking an explosion, killed a total of nearly 1,800 people. The shores of Lake Kivu are much more densely populated.



Gasmeth Energy said it would finance, build and maintain a gas extraction, processing and compression plant to sell methane domestically and abroad.



The bottled gas should be on sale within two years, Akamanzi said, adding that prices had yet to be determined.



Editing by Katharine Houreld and Edmund Blair

What you need to know about this $400 million deal that Rwanda just signed

LUSAKA (Reuters) &#8211; Zambia’s infrastructure and housing minister has been charged with concealing property believed to have been bought with the proceeds of crime, the Anti-Corruption Commission (ACC) said.



The ACC arrested Ronald Chitotela on Tuesday and released him on bail pending a court hearing. Chitotela did not immediately respond the Reuters’ attempts to contact him for comment.



The main opposition party has often accused President Edgar Lungu’s government of corruption. Chitotela, 47, is the first cabinet minister to be arrested on suspicion of graft since Lungu’s re-election in 2016.



Transparency International Zambia welcomed Chitotela’s arrest.



“We wish to use this occasion to encourage the ACC and all other law enforcement agencies to do their work without any fear or favour,” the anti-corruption campaign group said in a statement.



ACC Assistant Public Relations Manager Dorothy Mwanza said Chitotela had been charged on two counts of concealing property acquired in an upscale residential area in the capital, bought with the proceeds of crime and registered in the name of another person. She gave no further details.



If convicted, Chitotela faces a penalty of up to 5 years in prison.



Reporting by Chris Mfula; Editing by Robin Pomeroy

Zambia’s infrastructure minister has been arrested, what you need to know

HARARE (Reuters) &#8211; Zimbabwe’s President Emmerson Mnangagwa invited opposition leaders to a meeting on Wednesday to draw up terms for a national dialogue, they said, following a brutal crackdown on anti-government protests. 



More than 20 politicians who contested July’s presidential election were invited, two of whom &#8211; Lovemore Madhuku and Noah Manyika &#8211; said they would attend. It would be the first meeting between Mnangagwa and opponents since he took power from Robert Mugabe in November 2017.



Manyika however said he believed conditions were not yet right for meaningful dialogue, which could only happen if hundreds of people detained during the crackdown were released and soldiers withdrawn from streets and checkpoints.



“It can only take place if, as the president promised upon his return from his overseas trip, the heads of those who have been responsible for brutalising citizens roll,” Manyika said.



On Tuesday, a nationwide strike by public sector teachers for better pay got off to a patchy start, as some stayed at home while others attended school but did not teach amid fears of further intimidation.



The president hiked fuel costs by 150 percent last month and immediately travelled abroad, triggering unrest that drew a violent response from security forces and eventually persuaded him to cut short his foreign tour.



On his return home, Mnangagwa promised action against brutality by police and troops and called for a national dialogue.



There was no immediate comment on Tuesday’s invitation from Mnangagwa or his spokesman.



Nelson Chamisa, who heads the main opposition Movement for Democratic Change party and who counts Manyika among his allies, could not be reached for comment.



The MDC believes Zimbabwe is reverting to the authoritarian rule that characterised the regime of long-time leader Mugabe, and says the election that confirmed Mnangagwa as president in July was rigged, an allegation the judiciary rejected.



<h3 class="wp-block-heading">‘REPORT ALL INTIMIDATION’</h3>



The southern African nation is mired in an economic crisis marked by soaring inflation and shortages of cash, fuel and medicines.



Many government workers are demanding wage rises and payments in dollars to compensate.



On Tuesday the striking Zimbabwe Teachers Association (ZIMTA), the biggest teaching union, said most of its members had stayed at home but that security agents had gone to some schools taking details of absent teachers.



The union accused authorities of spreading fake news to discourage teachers from going on strike after state media reported that the stoppage had been called off.



“Report all forms of intimidation, we are building a dossier of such,” ZIMTA said in a notice to members.



Cabinet ministers declined to answer questions on the strike at a media briefing in Harare.



In schools around the centre of the capital, most teachers appeared to have turned up for work, but some were not taking lessons, witnesses said.



In a classroom at a primary school in Harare’s Mbare township, a Reuters photographer saw one teacher eating from her lunch box in class while pupils sat quietly.



Zimbabwe has more than 100,000 public-sector teachers.



Additional reporting by Philemon Bulawayo; Editing by James Macharia and John Stonestreet

Zimbabwe’s President Mnangagwa invites opposition leaders for talks, here’s what was discussed

NAIROBI, Feb 5 (Reuters) &#8211; Kenya’s private sector activity slowed slightly in January, hurt by a dip in the growth rate for new orders, although output rose, a survey showed on Tuesday. 



The Markit Stanbic Bank Kenya Purchasing Managers’ Index (PMI) for manufacturing and services fell to 53.2 from 53.6 in December. Any reading above 50.0 indicates growth.



“Owing to cyclical factors, private sector activity may soften somewhat over the next couple of months as growth broadly in the agriculture sub-sector eases,” said Jibran Qureishi, regional economist for East Africa at Stanbic Bank.



“However, despite these risks, lower international oil prices should help keep costs suppressed for the private sector and thus underpin purchasing activity.”



The survey showed new orders rising but at a slower pace than in December, while output also rose.



“Businesses have sustained output expansion for 14 consecutive months,” the survey said.



&#8211; Detailed PMI data are only available under licence from IHS Markit and customers need to apply for a licence.



To subscribe to the full data, click on the link below:&nbsp;<a href="https://www.ihsmarkit.com/about/contact-us.html">here</a>



For further information, please phone IHS Markit on +800 6275 4800 or email economics@ihsmarkit.com



(Reporting by George Obulutsa; Editing by Catherine Evans)

Here’s why Kenya’s PMI slowed to 53.2 in January from 53.6 in December

<a href="https://www.cnbc.com/cat-clifford/">By Catherine Clifford</a>



Mark Cuban grew up working class in Pittsburgh. His father installed upholstery in cars and his mom worked a myriad of odd jobs. Today, <a class="" href="https://www.forbes.com/profile/mark-cuban/">Cuban is worth more than $3 billion</a>, owns the Dallas Mavericks and is a star on ABC’s hit reality television show, “Shark Tank.”



He chased any number of random side-hustles on his way to the top, including selling baseball cards, stamps and coins. One thing Cuban did not do? Follow his passion.



“One of the great lies of life is ‘follow your passions,’”&nbsp;<a href="https://www.amazon.com/Mark-Cuban-Insights-for-Entrepreneurs/b?ie=UTF8&amp;amp;node=17395090011&amp;amp;ref=soussoa_mc_auth_insights&amp;amp;ld=SOUSSOA-MC-Auth-Insights" class="">says Cuban</a>&nbsp;as part of the&nbsp;<a href="https://www.amazon.com/b?node=17395088011&amp;amp;ref_=insights_nav_logo" class="">Amazon Insights for Entrepreneurs</a>&nbsp;series. “Everybody tells you, ‘Follow your passion, follow your passion.’”



Cuban says that’s bad advice because you may not excel at what you are passionate about.



“I used to be passionate to be a baseball player. Then I realized I had a 70-mile-per-hour fastball,” says Cuban. Competitive major league pitchers throw fastballs in the range of&nbsp;<a href="https://www.mlb.com/news/mets-top-2017-statcast-fastball-velocity-ranks/c-216314410" class="">90-plus miles per hour</a>.



“I used to be passionate about being a professional basketball player. Then I realized I had a 7-inch vertical,” says Cuban. Top contenders for the NBA draft in 2017 each had a&nbsp;<a href="https://stats.nba.com/draft/combine/" class="">max vertical leap over 40 inches</a>.



“There are a lot of things I am passionate about. A lot,” says Cuban.



Instead, pay attention to those things that you devote time to, says Cuban. Double down your investment there.



“The things I ended up being really good at were the things I found myself putting effort into. A lot of people talk about passion, but that’s really not what you need to focus on. You really need to evaluate and say, ‘Okay, where am I putting in my time?’” says Cuban.



“Because when you look at where you put in your time, where you put in your effort, that tends to be the things that you are good at. And if you put in enough time, you tend to get really good at it,” explains Cuban.



When you are good at something, you enjoy it, says Cuban. The effort and skill snowball.



“If you put in enough time, and you get really good, I will give you a little secret: Nobody quits anything they are good at because it is fun to be good. It is fun to be one of the best,” says Cuban.



“But in order to be one of the best, you have to put in effort. So don’t follow your passions, follow your effort,” says Cuban.



“I am going to give you one other secret: The one thing in life that you can control is your effort,” says Cuban.



The billionaire is not alone in his advice.



<a href="https://casper.com/press/jeff-chapin" class="">Jeff Chapin</a>, co-founder of direct-to-consumer mattress company Casper calls passion “<a href="https://www.cnbc.com/2017/11/22/casper-co-founder-how-to-figure-out-what-to-do-with-your-life.html" class="">whimsical</a>. ”



“There are so many things that can captivate you that don’t have to do with your passions,” he tells&nbsp;<a href="https://www.cnbc.com/make-it/" class="">CNBC Make It</a>.



And often, hearing the advice “follow your passion” translates into following your hobby. “I love kitesurfing, so I’m going to go start a kitesurfing business,” Chapin says as an example. “The reality is you probably ruined your hobby because now you turned your passion into your job.”



Instead, Chapin recommends identifying a simple problem you have a personal advantage at solving. Start small, solve that problem. Repeat.



“Find things where you can get successes quickly,” says Chapin. “Don’t tackle world peace. Figure out how to get food to the homeless person on the street down the corner. Start local and very small.”



 This article was first published by CNBC https://www.cnbc.com/2018/02/16/mark-cuban-follow-your-passion-is-bad-advice.html and is republished with its permission.

Special Report

Nigeria prepares for elections, is the country’s electoral system credible ?

If you invested $1,000 in Amazon 10 years ago, here’s how much you’d have now

Here’s why South Africa’s new plan for state-owned power utility Eskom could work

66% of workers polled want a 4-day workweek—why just 17% of their employers offer it

South Africa’s power utility Eskom to implement #LoadShedding for a second day in a row

Should South Africa’s president Ramaphosa scrap Eskom split plan ? NUM thinks he should, here’s why

Russia is growing its strategic influence in Africa, here’s how the country is doing this

Stuck in student loans? Don’t blow your tax refund — here are 4 smart ways to spend it

Op-Ed: Plenty of heat on the street, but no fire in #SONA2019

South Africa’s rand weakens ahead of President Cyril Ramaphosa’s state of the nation address

Naomi Campbell announced as headline speaker for the 2019 Forbes Woman Africa Leading Women Summit

Why the advice you’ve been given about negotiating your salary is wrong

What you need to know about this $400 million deal that Rwanda just signed

Zambia’s infrastructure minister has been arrested, what you need to know

Zimbabwe’s President Mnangagwa invites opposition leaders for talks, here’s what was discussed

Here’s why Kenya’s PMI slowed to 53.2 in January from 53.6 in December

Billionaire Mark Cuban: ‘One of the great lies of life is follow your passions’

News Tips

Advertise With Us

Special Report

Nigeria prepares for elections, is the country’s electoral system credible ?

If you invested $1,000 in Amazon 10 years ago, here’s how much you’d have now

Here’s why South Africa’s new plan for state-owned power utility Eskom could work

66% of workers polled want a 4-day workweek—why just 17% of their employers offer it

South Africa’s power utility Eskom to implement #LoadShedding for a second day in a row

Should South Africa’s president Ramaphosa scrap Eskom split plan ? NUM thinks he should, here’s why

Russia is growing its strategic influence in Africa, here’s how the country is doing this

Stuck in student loans? Don’t blow your tax refund — here are 4 smart ways to spend it

﻿Op-Ed: Plenty of heat on the street, but no fire in #SONA2019

South Africa’s rand weakens ahead of President Cyril Ramaphosa’s state of the nation address

Naomi Campbell announced as headline speaker for the 2019 Forbes Woman Africa Leading Women Summit

Why the advice you’ve been given about negotiating your salary is wrong

What you need to know about this $400 million deal that Rwanda just signed

Zambia’s infrastructure minister has been arrested, what you need to know

Zimbabwe’s President Mnangagwa invites opposition leaders for talks, here’s what was discussed

Here’s why Kenya’s PMI slowed to 53.2 in January from 53.6 in December

Billionaire Mark Cuban: ‘One of the great lies of life is follow your passions’

News Tips

Advertise With Us

Newsletters

Op-Ed: Plenty of heat on the street, but no fire in #SONA2019