JOHANNESBURG (Reuters) &#8211; South African retailer Shoprite looked set for its biggest fall in almost 20 years on Wednesday after it warned of a steep drop in half-year headline earnings citing foreign exchange setbacks and other factors.



Shoprite in a trading statement released after the market close on Tuesday said it expects headline earnings per share (HEPS) including an adjustment for hyperinflation to fall by as much as 26 percent to 388.6-441.1 cents for the 26 weeks which ended on Dec. 30.



It reported HEPS of 525.6 cents in the prior comparable period.



Excluding the hyperinflation adjustment, HEPS is expected to fall to 334.9-387.4 cents, the company said.



“The low turnover growth resulting from low food inflation, temporary stock availability challenges and currency devaluations combined with lower non-RSA (non-South Africa) gross margins and inflexible expense growth have adversely affected profitability,” Shoprite said in its trading statement.



The supermarket operator and furniture retailer also recorded numerous once-off costs.



At market open, shares in Shoprite plunged more than 16 percent before paring loses to trade 10.7 percent weaker at 159.47 rand at 0936 GMT. They were on track for their biggest one-day drop since July 1999.



Last Tuesday, Shoprite, which owns more than 2,800 outlets across Africa, reported flat half-year sales, held back by a strike at its largest distribution centre in South Africa and sharp currency devaluations elsewhere. [nL8N1ZM26W]



“Now we are seeing the impact of those poor sales on their earnings numbers. It makes sense, when a company is facing increasing costs but sales are flat, earnings are going to decline,” Vestact equities portfolio manager Byron Lotter said in a note.



In South Africa the retailer has seen cost increases in rent, electricity, security, transport and depreciation, it said.



“January 2019 has seen the improved trading trend continue and we are confident of an improved second half as the impact of various once-offs continues to ease,” Shoprite said.



Reporting by Nqobile Dludla; editing by Jason Neely

South Africa’s Shoprite sees biggest fall in almost 20 years, here’s why

By <a href="https://theconversation.com/profiles/lamech-mwapagha-332522">Lamech Mwapagha</a>, <a href="http://theconversation.com/institutions/namibia-university-of-science-and-technology-3423">Namibia University of Science and Technology</a>


All organisms are unique. Each having a set of genetic instructions for their build-up and maintenance. This set of genetic instructions is contained in genes that makeup a genome. 

The <a href="http://www.who.int/genomics/geneticsVSgenomics/en/">World Health Organisation</a> defines genomics as the study of genes and their complex interplay in influencing the growth and development of an organism. Through genomics, gene sequences can be manipulated to prevent – or manage – certain diseases and hence prolong life and improve public health. 

More and more <a href="https://academic.oup.com/bmb/article/112/1/37/2747691">research</a> is showing that a better understanding of the genomics of pathogens can play a crucial role in preventing and treating infectious diseases. Identifying genetic risk factors for diseases can ensure timely interventions. It can also help curtail the spread of emerging infections and drug resistance.

Because of this, genomic research has huge potential in helping African countries address public health issues. The problem is that Africa lags behind other regions. This is true in terms of research, resources as well as policy.

<h2>Burden of disease</h2>

Africa faces a heavy disease burden of both communicable and non-communicable diseases. In the last <a href="http://www.worldbank.org/en/news/feature/2013/09/09/global-burden-of-disease-findings-for-sub-saharan-africa">two decades</a>, the continent has succeeded in decreasing some communicable diseases such as cholera and polio. But others such as <a href="http://www.who.int/bulletin/africanhealth/en/">malaria and HIV</a> remain quite high.

This disease burden has been aggravated with the emergence of drug-resistant strains. 

In addition, non-communicable diseases such as cardiovascular diseases, cancer, diabetes and chronic respiratory diseases are also on the rise. The number of deaths from these is <a href="http://www.prb.org/pdf15/ncds-africa-policybrief.pdf">projected</a> to increase over the next decade.

This high disease burden can be significantly reduced. But it needs a proactive approach. This should include a combination of public health strategies as well as the use of genomics to help identify genetic risk factors. 

<h2>Why genomics matters</h2>

Some examples of how genomic research has been used to address public health issues include:

<ul>
<li>The identification of a new <a href="http://science.sciencemag.org/content/285/5433/1573">antimalarial</a> drug;</li>
<li>The development of new <a href="https://jamanetwork.com/journals/jama/fullarticle/193523">vaccines</a>; and </li>
<li>In the <a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3706975/">investigation</a> of causes of infectious disease outbreaks, including the Ebola virus.</li>
</ul>

Genomic analysis has also provided important prognostic indicators for breast cancer patients. This has helped identify the <a href="http://www.ncbi.nlm.nih.gov/pubmed/15891269">drugs</a> that individuals could best respond to. It opened the door to the new era of <a href="https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/503689/Healthcare_UK_Genomics__Personalised_Medicine__DIGITAL.pdf">personalised medicine</a> that aims to tailor therapy according to each person’s genetic makeup. 

A good example was the use of genome sequencing that pointed to a new treatment regimen for <a href="https://cen.acs.org/articles/91/i28/Next-Generation-DNA-Sequencing-Finds.html">Nicholas Volker</a> who had a gastrointestinal disorder that was cured with a bone marrow transplant.

To date, the US Food and Drug Administration has <a href="http://www.fda.gov/MedicalDevices/ProductsandMedicalProcedures/InVitroDiagnostics/ucm330711.htm">approved</a> 45 human genetic tests, and more than 100 nucleic acid-based tests for microbial pathogens. Most of this research is being carried out in the developed world. 

But scientists in Africa have also been attempting large-scale genome research studies focused on specific diseases. For example, the international <a href="https://www.genome.gov/10001688/international-hapmap-project/">HapMap</a> project and other previous studies have shown that people who live on the continent have the greatest genetic variation. Therefore understanding the genetic basis of both communicable and non-communicable diseases may provide useful insights into devising <a href="http://www.ncbi.nlm.nih.gov/pmc/articles/PMC2953791/">effective strategies</a> to combat diseases that have had a large impact on the continent.

<h2>Challenges</h2>

Africa still lags behind the rest of the world in the field of genomic research. This is largely attributed to the following challenges:

<ul>
<li>The cost of research remains prohibitive for African research centres. This is mainly due to lack of enough government funding and support;</li>
<li>There’s a shortage of African scientists with genomic research and computational expertise who can translate genomic information into clinical medicine;</li>
<li>A lack of biomedical research infrastructure to undertake genomic research;</li>
<li>Lack of collaborative research among African scientists;</li>
<li>A climate of fear about the potential for misuse and misinterpretation of genomic information among the public and health professionals in Africa;</li>
<li>Poor engagement with national and regional agencies in the uptake of genomic research as novel methodologies to help tackle health problems; and</li>
<li>No proper policies and clear guidelines to inform medical and public health professionals about the level of confidence and use of genomic information.</li>
</ul>

<h2>What to do</h2>

African Union member states have set a target of 1% of GDP to be invested on <a href="http://uis.unesco.org/en/news/rd-data-release">research and development</a>. But most member states don’t meet this target. Only South Africa, Kenya and Senegal are close – at around 0.8%. 

It’s crucial that genomic research is given higher priority on the continent. The research should be supported by establishing the infrastructure for genomic studies, capacity building and improving collaborations with credible international partners. 

African genomic scientists should also build networks and collaborations that enable the exchange of new ideas and the transfer of knowledge. This could indirectly influence policy makers to support investments in genomic research.

There are programmes that are supporting initiatives like this. These include the <a href="http://aasciences.ac.ke/programmes/easa/alliance-for-accelerating-excellence-in-science-in-africa-aesa/">Alliance for Accelerating Excellence in Africa</a>, created by the <a href="http://aasciences.ac.ke/">African Academy of Sciences</a> and the <a href="http://h3africa.org/">Human Heredity and Health in Africa</a>. These programmes support studies led by African scientists by providing research funds that foster genomics research, <a href="http://www.ncbi.nlm.nih.gov/pmc/articles/PMC4138491/">capacity building</a>, as well as specific scientific goals.

But there’s scope for considerable expansion. 

Overall, policymakers need to be involved from the beginning in all discussions and debates involving genomics research. They should be engaging with communities, academics and public health professionals to help develop research questions. They should also be involved in preparing to set up legal regulatory frameworks. This would go a long way towards ensuring the translation of genomic research findings into public health benefits.<img loading="lazy" decoding="async" src="https://counter.theconversation.com/content/110212/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/lamech-mwapagha-332522">Lamech Mwapagha</a>, Lecturer of Biochemistry, <a href="http://theconversation.com/institutions/namibia-university-of-science-and-technology-3423">Namibia University of Science and Technology</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-african-countries-need-to-give-genomic-research-a-major-boost-110212">original article</a>.

Why genomic research on the African continent needs a major boost

JOHANNESBURG (Reuters) &#8211; The South African government will soon debate whether to split up state power firm Eskom to make it financially viable, Public Enterprises Minister Pravin Gordhan said on Tuesday.



Eskom is vital to the health of Africa’s most industrialised economy as it supplies more than 90 percent of its power, but it is drowning in debt after a decade of steep financial decline.



Experts hired by President Cyril Ramaphosa to help revive the ailing company are proposing splitting it up into three state-owned entities responsible for power generation, distribution and transmission, sources familiar with the matter told Reuters last week.



Ramaphosa is due to meet the experts this week, and Eskom’s fate will also be debated at a cabinet meeting starting on Wednesday.



“Should Eskom be unbundled into generation, transmission and distribution, as is the worldwide practice? That is a debate we are going to have soon. And it is going to go beyond a debate because we need very fast movement,” Gordhan said at a business conference outside Johannesburg.



Gordhan, who also oversees struggling state firms Denel and South African Airways, added that the government would be willing to sell stakes in state firms to private investors “once we get to a level of stability in some of these outfits”.



“The fiscus doesn’t have space for endless bailouts,” referring to the budget.



Reporting by Alexander Winning; Editing by James Macharia

Should South Africa’s state power firm Eskom split? What you need to know…

<a href="https://www.cnbc.com/saheli-roy-choudhury/">By Saheli Roy Choudhury</a>



<a class="" href="https://www.cnbc.com/quotes/?symbol=FB">Facebook</a> has been paying people in secret to install an app that allows the tech giant to collect data on how they use their smartphones, <a class="" href="https://techcrunch.com/2019/01/29/facebook-project-atlas/">TechCrunch reported Tuesday evening</a>.



Since 2016, the social networking giant has been paying teenagers and adults up to $20 a month plus referral fees to install the so-called “Facebook Research” app on their Apple or Android phones, according to TechCrunch. To mask Facebook’s direct involvement, the program is said to be administered through beta testing services Applause, BetaBound and uTest and is referred to as “Project Atlas.”



TechCrunch revealed that according to a security expert, the app allows Facebook to collect data including private messages in social media apps, photos and videos to sent, emails, web searches and web browsing activities. It can also track ongoing location information from other location tracking apps installed in the user’s phone, according to the report.



A Facebook spokesperson acknowledged to CNBC that the company is running the program to gather data on usage habits.



“Like many companies, we invite people to participate in research that helps us identify things we can be doing better,” the spokesperson said. “Since this research is aimed at helping Facebook understand how people use their mobile devices, we’ve provided extensive information about the type of data we collect and how they can participate.”



“We don’t share this information with others and people can stop participating at any time,” the spokesperson added.



The move from Facebook could potentially be a violation of&nbsp;<a href="https://www.cnbc.com/quotes/?symbol=AAPL" class="">Apple</a>&nbsp;policy since many of the users on board the program are installing the app on iPhones.



Apple did not immediately respond to CNBC’s request for comments but a spokesperson told TechCrunch that the company is aware of the issue.



Last year,&nbsp;<a href="https://www.cnbc.com/2018/08/22/apple-removes-facebook-onavo-app-from-app-store.html" class="">Apple removed Facebook’s Onavo security app</a>&nbsp;from the App Store because it did not comply with its privacy rules that stated apps “should not collect information about which other apps are installed on a user’s device.”



<a class="" href="https://techcrunch.com/2019/01/29/facebook-project-atlas/">Read more about TechCrunch’s report on how Facebook pays users to install an app to collect data on them</a>.



This article was first published by CNBC https://www.cnbc.com/2019/01/29/facebook-paying-users-to-install-app-to-collect-data-techcrunch.html and is republished with its permission.

Is Facebook paying users to install an app that could collect all kinds of data from their phones?

HARARE (Reuters) &#8211; Zimbabwe’s high court on Tuesday ordered the release on bail of activist pastor Evan Mawarire, who was arrested on charges of subversion amid violent anti-government protests.



Mawarire is one of more than 1,000 people who were arrested in a security crackdown over their alleged roles in demonstrations that took place this month following a hike in fuel prices.



Reporting by MacDonald Dzirutwe; editing by John Stonestreet

Zimbabwe activist pastor Evan Mawarire released on bail

<a href="https://www.cnbc.com/todd-haselton/">By Todd Haselton</a>



There’s a <a class="" href="https://www.cnbc.com/2019/01/28/apple-facetime-bug-lets-you-listen-even-if-someone-doesnt-answer.html">massive privacy bug on iPhones</a> that lets people call you with FaceTime to hear you and see you — even if you don’t pick up the call.



Here’s the gist of how it works: Using the bug, someone can listen in or see you through your iPhone.



<a href="https://www.cnbc.com/quotes/?symbol=AAPL" class="">Apple</a>&nbsp;has since&nbsp;<a href="https://www.cnbc.com/2019/01/29/apple-removes-facetime-group-calling-as-it-tries-to-fix-spying-bug.html" class="">disabled Group FaceTime until it has a more permanent solution later this week</a>. To be extra safe, here’s how you can turn off FaceTime on your iPhone to prevent anyone from trying to snoop on you in the meantime.



<ul class="wp-block-list"><li>Open Settings.</li><li>Choose FaceTime.</li><li>Toggle the button so that FaceTime is off (there’s no green showing.)</li></ul>



That’s it. I tested it on my own iPhone and it stopped FaceTime calls from coming in entirely, so nobody could just listen in or try to watch me through my iPhone’s camera.



Here’s the full response Apple provided to CNBC: “We’re aware of this issue and we have identified a fix that will be released in a software update later this week.”



 This article was first published by CNBC https://www.cnbc.com/2019/01/29/how-to-disable-facetime.html?__source=twitter%7Cmain and is republished with its permission.

Here’s how to disable FaceTime so people can’t spy on you by exploiting a bug

<a href="https://www.cnbc.com/todd-haselton/">By Todd Haselton</a>



There’s a FaceTime bug that lets you hear through someone else’s iPhone, even if they haven’t answered your phone call. It was previously reported on Twitter by user Benji Mobb and <a class="" href="https://9to5mac.com/2019/01/28/facetime-bug-hear-audio/">reported by 9to5Mac</a>.



CNBC tested it and verified that it’s a real bug. I tried placing a video call to my editor from my iPhone using Apple’s FaceTime app. Then, before he picked up, I used the menu option to add somebody else to the call and, as 9to5Mac’s directions state, I added myself to the call. Suddenly, I could hear my editor, even though he never picked up. We continued having a conversation while his phone only gave him the option to answer. There was no indication that the call had already gone through.



<a class="" href="https://www.theverge.com/2019/1/28/18201383/apple-facetime-bug-iphone-eavesdrop-listen-in-remote-call-security-issue">The Verge</a> reports that, if the person you’re calling tries to end it by tapping the power button on their phone, it sends video but no audio. That means the person calling you can see a video of you or your surroundings as if you’d answered the call. I replicated this with a friend.



<blockquote class="twitter-tweet" data-lang="en">Now you can answer for yourself on FaceTime even if they don’t answer?<a href="https://twitter.com/hashtag/Apple?src=hash&amp;ref_src=twsrc%5Etfw">#Apple</a> explain this.. <a href="https://t.co/gr8llRKZxJ">pic.twitter.com/gr8llRKZxJ</a>&mdash; Benji Mobb™ (@BmManski) <a href="https://twitter.com/BmManski/status/1089967572307640325?ref_src=twsrc%5Etfw">January 28, 2019</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>




This bug seems to rely on the FaceTime Group Call feature, since you’re trying to add another person to the call.&nbsp;<a href="https://www.cnbc.com/2018/11/20/how-to-use-group-facetime-on-iphone-ipad.html" class="">Group FaceTime launched last year</a>.



There’s obviously a big privacy concern here. You could theoretically call anyone with FaceTime and, using the steps above, listen in on their conversations.



<a href="https://www.cnbc.com/quotes/?symbol=AAPL" class="">Apple</a>, which is&nbsp;<a href="https://www.cnbc.com/2019/01/28/apple-q1-2019-earnings-preview-what-to-focus-on.html" class="">scheduled to report earnings on Tuesday afternoon</a>, said a fix is coming this week. “We’re aware of this issue and we have identified a fix that will be released in a software update later this week,” a spokesperson told CNBC. It also&nbsp;<a href="https://www.cnbc.com/2019/01/29/apple-removes-facetime-group-calling-as-it-tries-to-fix-spying-bug.html" class="">deactivated Group FaceTime to prevent people from exploiting the bug</a>&nbsp;before it releases a fix.



In the meantime, and to be extra safe, the fastest fix right now is to just turn off FaceTime. Here’s how:



<ul class="wp-block-list"><li>Open Settings on your iPhone or iPad.</li><li>Choose FaceTime</li><li>Toggle FaceTime to off.</li></ul>



 This article was first published by CNBC https://www.cnbc.com/2019/01/28/apple-facetime-bug-lets-you-listen-even-if-someone-doesnt-answer.html?&amp;qsearchterm=facetime and is republished with its permission.

There’s a bug on Apple’s FaceTime that lets you listen in on people you call, even if they haven’t picked up their iPhone

<a href="https://www.cnbc.com/alexandra-gibbs/">By Alexandra Gibbs</a>



Today, TransferWise is trusted by millions of customers worldwide, with the likes of Richard Branson and Peter Thiel having <a class="" href="https://transferwise.com/gb/about/our-story">invested in</a> its vision. Rewind 10 years or so however, and the picture was a lot different.



In 2008, Kristo Kaarmann — who’s now TransferWise’s CEO — was working as a management consultant in London and had received a Christmas bonus of £10,000 ($13,147), which he wanted to put to greater use.



Speaking to&nbsp;<a href="https://www.bbc.co.uk/news/business-46985443" class="">the BBC</a>, the businessman explained that as interest rates were higher in Estonia at the time, he chose to transfer the earnings from his British account to his Estonian savings account — expecting this would help him earn more from the money. This didn’t, however, go as hoped.



“I paid my U.K. bank a £15 fee, and transferred the £10,000, and then a week later I saw that £500 less than I had expected had arrived in the Estonian account,” Kaarmann <a class="" href="https://www.bbc.co.uk/news/business-46985443">told the U.K. broadcaster, BBC News</a>. The CEO explained how he looked into how this had occurred, and realized that he “had been incredibly stupid.”



“I had foolishly expected that my U.K. bank would have given me the exchange rate I saw when I looked on Reuters and Bloomberg,” he&nbsp;<a href="https://www.bbc.co.uk/news/business-46985443" class="">said</a>, adding that instead, “the bank had used an exchange rate 5 percent less favorable, which is how it and all the other banks get their cut. It was my mistake.”



As one of the latest business leaders to be&nbsp;<a href="https://www.bbc.co.uk/news/business-46985443" class="">profiled by the BBC</a>, Kaarmann said in its “The Boss” series, that this incident went onto see him try to discover a way of transferring cash overseas in a more cost-effective way. This led to Kaarmann meeting his soon-to-be business partner.



According to&nbsp;<a href="https://transferwise.com/about" class="">TransferWise’s website</a>, the two founders, Kaarmann and Chairman Taavet Hinrikus, met at a party and found out that they both worked in London but needed different currencies.



Kaarmann was paid in pounds but had a mortgage back in Estonia that was done in euros, while Hinrikus was paid in euros but needed British pounds to pay his bills in London.



After teaming up, the pair would&nbsp;<a href="https://transferwise.com/about" class="">informally transfer money</a>&nbsp;between one another, by looking at the mid-market rate of a certain day each month, allowing them to attain a fair exchange rate without paying additional bank charges.



This led to the businessmen building a network of Estonian friends transferring money,&nbsp;<a href="https://www.bbc.co.uk/news/business-46985443" class="">according to the BBC</a>, which went onto spark the start of their own business: TransferWise, which was launched in 2011.



Today, the money transfer service&nbsp;<a href="https://transferwise.com/help/article/1922918/basic-information/tips-for-getting-started-with-transferwise" class="">acts as an online account</a>&nbsp;for its 4 million-plus customers, allowing them to send money, get paid and spend money internationally, without being faced with high fees.



Now considered amongst Europe’s&nbsp;<a href="https://www.cnbc.com/2018/09/10/transferwise-earnings-second-year-of-profit-revenue-surges.html" class="">“unicorn” start-ups</a>&nbsp;— which are companies valued with at least $1 billion — TransferWise is thriving, with it being reported&nbsp;<a href="https://www.cnbc.com/2018/05/22/transferwise-2018-disruptor-50.html" class="">in 2018</a>&nbsp;that it had valuation of $1.6 billion.



<a href="https://www.bbc.co.uk/news/business-46985443" class="">Read the BBC’s article in full here.</a>



—CNBC’s Ryan Browne contributed to this report 



This article was first published by CNBC https://www.cnbc.com/2019/01/28/transferwise-kristo-kaarmann-on-what-led-up-to-the-business-idea.html and is republished with its permission.

How a simple mistake set in motion the start of a billion-dollar business

HARARE (Reuters) &#8211; Public sector unions gave Zimbabwe’s government a 48-hour ultimatum to make a new salary offer or face a strike after wage negotiations reached a deadlock, raising the prospect of more unrest following this month’s violent protests. 



President Emmerson Mnangagwa is under pressure to deliver on pre-election promises to revive an economy wrecked during the tenure of his predecessor Robert Mugabe, who ruled for 37 years before being forced to resign after a coup in 2017.



Mnangagwa’s government has also come under severe criticism for a crackdown on violent protests over a fuel price hike that rights groups say killed at least 12 people and injured scores. Police say only three people died.



The Apex Council, which groups 16 civil service unions, said government negotiators did not bring a new offer at a meeting on Monday. More talks are set for Wednesday, Apex Council secretary David Dzatsungwa told reporters after a four-hour meeting.



“The Apex council gives the government up to the meeting of Wednesday 30 January 2019 or face inevitable job action,” said Dzatsunga.



Unions want to be paid in dollars or have the monthly salary of the lowest paid worker increased from $414 to $1,700. There are 305,000 civil servants, including security forces.



With inflation at 42 percent, its highest since 2008, and a shortage of cash in circulation eroding ordinary Zimbabweans’ spending power, the fragile state of the economy is at the heart of the country’s political troubles.



Mnangagwa promised during campaigning for the July 2018 presidential vote, which he won amid charges of fraud from the opposition, to repair the economy and break with Mugabe’s politics.



But security forces dispersed demonstrations by force and cracked down on activists, leading to fears that Mnangagwa’s government is reverting to Mugabe-era strong-arm politics.



Several opposition officials and activists have gone into hiding and police said on Monday they wanted to question at least 27 of them over the Jan. 14-16 strike that turned into violent street protests.



On Monday, Mnangagwa said he had told authorities to arrest security forces filmed by Sky News assaulting a man in handcuffs. Last week he promised action on security forces who committed violence during the crackdown.



Reporting by MacDonald Dzirutwe, Editing by Angus MacSwan

Zimbabwe unions issue government with ultimatum to make a new salary offer or face a strike, what you need to know

<a href="https://www.cnbc.com/courtney-connley/">By Courtney Connley</a>



Roughly <a class="" href="http://rh-us.mediaroom.com/2018-06-06-More-Companies-offering-promotions-without-Raises-AND-many-workers-willing-to-accept-them?mod=article_inline">39 percent</a> of HR managers today say it’s common for their company to offer employees a promotion without a raise, according to data from the staffing firm OfficeTeam. That’s a 17-point increase from HR managers who said the same in 2011.



While receiving a promotion without extra pay isn’t ideal, career expert Lindsey Pollak says it can be okay to accept this deal&nbsp;—&nbsp;if&nbsp;the new promotion is in alignment with your long-term goals.



“If it is tremendously valuable to you to have that career title because of your career profile and the job you want next, then I don’t think you should&nbsp;not&nbsp;accept, ” she tells&nbsp;<a href="https://www.cnbc.com/make-it/" class="">CNBC Make It</a>.&nbsp;But Pollak warns that this situation should be temporary.



Below, Pollak and <a class="" href="https://www.monster.com/">Monster.com</a> career expert Vicki Salemi outline three things you should do now if you’re offered a promotion without a raise:



 1. Set a timeline



If you work for an organization where finances are tight, then it’s likely common for promotions to be offered without additional pay. But that doesn’t mean you should avoid initiating the conversation.



In fact, Pollak says when you are first offered the promotion you should ask your boss for an exact date when you can revisit the conversation about compensation. She says you can tell your boss something like, “I am very happy to take on this additional title and role, but in six months I would like for us to revisit the compensation component.”



Salemi agrees and says that whenever you have the discussion around pay, you should be sure to have the conversation in person or over the phone, rather than via email or text.



“The key is to just do what you can because at some point it is out of your control” she says. “But, what you can control is checking in, staying on top of your pay, following up and keeping track of your accomplishments.”



She adds that “how your boss reacts could be more motivation for you to just look for another job.”



 2. Negotiate for other benefits



Aside from negotiating pay, Salemi says there are other benefits you can ask for that will help you to better leverage your new position.



“Think of all the ways you can polish up and learn a new skill set that you can incorporate into your newly-revised resume,” she says. “Maybe there isn’t a budget for a raise, but you can ask if there is one for online learning or for traveling to attend a big conference in another area.”



Regardless of what you’re able to negotiate, Salemi says, you should “always keep your eyes on the prize” and think of your current promotion without pay as a temporary situation that’s helping you to build your resume.



3. Start applying for other opportunities



If salary conversations aren’t going in the direction you had hoped, then Salemi says it’s time for you to start seeking opportunities outside of your company.



As a suggestion, she says you should set up job alerts so that you can stay in the loop on any new positions that match your skill sets. She also advises employees to keep their resume updated and to be as detailed as possible about their new position and responsibilities.



“Let’s say before you were an associate director and now your new title is director,” Salemi explains. “You will need to get really quantifiable in your resume about the amount of the budget you’re managing, how many people you are managing, etc.”



Your promotion, she says, can be viewed as a way to help prepare you for the “job that maybe seemed out of reach” at one point, but is now in line with where you are career-wise.



 This article was first published by CNBC https://www.cnbc.com/2019/01/25/what-to-do-youre-offered-a-promotion-without-a-raise.html and is republished with its permission.

3 things to do if you’re offered a promotion without a raise

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



Perhaps the hardest part of being a member of the workforce today is predicting which skills and which jobs jobs will be needed in the economy of tomorrow.



On Thursday, the&nbsp;<a href="https://www.brookings.edu/research/automation-and-artificial-intelligence-how-machines-affect-people-and-places/" class="">Brookings Institute</a>&nbsp;released a sobering report that details the impact technologies such as Automated Intelligence (AI) will have on workers. “Almost no occupation will be unaffected by technological change in the AI era,” reads the report, which predicts one-quarter of jobs are at “high risk” of being automated.



One tool that can be used to predict which jobs will be in demand in the coming “AI era” is the&nbsp;<a href="https://www.cognizant.com/jobs-of-the-future-index?utm_source=newsletter&amp;amp;utm_medium=email&amp;amp;utm_campaign=newsletter_axiosfutureofwork&amp;amp;stream=future" class="">Cognizant Jobs of the Future (CJOF) Index</a>. The CJoF Index tracks the popularity of 50 jobs predicted to be in high demand in the future. Earlier this week, the index released its latest figures from the fourth quarter of 2018, providing insight into the jobs of the future.



Here are the jobs that had the largest growth in number of openings over the past year:&nbsp;



Software Developer/Engineer



≈ 84,000 more job openings



Cyber/Information Security Engineer/Analyst



≈ 12,000 more job openings



Cyber Calamity Forecaster



≈ 8,300 more job openings



UI/UX Designer/Developer



≈ 6,800 more job openings



The following jobs were the fastest-growing roles on the CJOF Index over the past year:&nbsp;



Fashion Designer



Job growth: +279 percent



Solar Engineer



Job growth: +257 percent



Career Counselor



Job growth: +181 percent



Social Media Strategist/Specialist



Job growth: +172 percent



Genetic Counselor



Job growth: +163 percent



Unsurprisingly, many of the jobs that topped the CJoF Index this quarter were roles in digital fields. “The employment growth in these areas reflects the greater demand for people with the software, cybersecurity and digital design to drive companies’ digital future,” states the Cognizant report.



However, many other more surprising roles also showed strong job growth. For instance, Cognizant reports that there was a 279 percent increase in the number of job openings with the title of “Fashion Designer” in 2018.



<a href="https://www.cognizant.com/futureofwork/author/details/benjamin-pring" class="">Benjamin Pring</a>, Director of the Cognizant Center for the Future of Work, says that these surprising and unsurprising job titles comes down to science, technology, engineering and math (STEM) training.



“STEM-style jobs that people have been saying are going to be important — data science, machine learning, cyber security — those sorts of STEM-based jobs that people have been saying are going to be important, the data is absolutely supporting that argument,” Pring tells&nbsp;<a href="https://www.cnbc.com/make-it/" class="">CNBC Make It</a>. “The argument is being proven that if you’re 16, or if you’re 25, or if you’re 35, trying to get yourself into one of those STEM areas is absolutely the right thing to do. There’s a clearly a huge demand for that kind of capability.”



However, Pring also says there will still be opportunities for workers in the future even if they don’t have these in-demand STEM skills. The key, he says using technology competently and mastering uniquely human characteristics.



“The notion that every kind of person, whether or not you’re maths-based or STEM-based, needs to be in a technical job, that doesn’t make sense. A lot of jobs will be STEM-based, tech-based jobs, but loads wont be. They’ll have a tech component within them, but they wouldn’t be tech jobs, per se,” he explains. “You have to double-down on the things that differentiate a human being from software, or from a machine, and they are those human qualities — the ability to be empathetic, to care, to be creative, to sell, to help, to support — all of those things that machines are not going to do any time soon.”



 This article was first published by CNBC https://www.cnbc.com/2019/01/25/cyber-calamity-forecaster-career-counselor-and-solar-engineer&#8211;here-are-the-fastest-growing-jobs-of-the-future.html and is republished with its permission.

These are the fastest-growing jobs of the future

By <a href="https://theconversation.com/profiles/gaathier-mahed-185827">Gaathier Mahed</a>, <a href="http://theconversation.com/institutions/nelson-mandela-university-1946">Nelson Mandela University</a>


Groundwater <a href="https://www.researchgate.net/publication/298688635_Groundwater_The_Cinderella_of_the_South_African_water_industry">has often</a> been seen as the underground resource that never runs out. This “out of sight out of mind” attitude means wells and boreholes are indiscriminately sunk and that groundwater <a href="http://www.satgi.co.za/Media/Default/Documents/Seminar/2017%2009%2028%20State%20of%20Water%20Resources%20-%20John%20Robberts.pdf">is abused</a> by the public and even by governments. This is exacerbated in times of drought and even more pronounced in arid areas.

Since groundwater was developed as a science 150 years ago by <a href="https://www.ldeo.columbia.edu/%7Emartins/climate_water/lectures/darcy.html">Henry Darcy</a>, several ideas using engineering and technology have cropped up on how best to manage it. Aquifers, which are groundwater reservoirs, have been used for centuries as a water source for drinking and agricultural purposes.

One idea is known as <a href="http://www.artificialrecharge.co.za/">managed aquifer recharge</a>. Here, groundwater is recharged in a controlled way into the aquifer. This allows water to be “banked” – stored underground – so that it can be used later. 

Banking water minimises the impact of evaporation and means that water can also be recycled from various sources, instead of being wasted. This recycled water could stem from stormwater or even wastewater treatment plants and then be put back into the aquifer.

The fundamental idea behind better groundwater management emerged from the Middle East during the 1st millennium BC, where they are known as <a href="https://researchonline.jcu.edu.au/32126/1/32126_Habashiani_2011_thesis.pdf">Qanat systems</a>. These were hand dug tunnel and outlet well systems, which basically lead groundwater from one point to another for abstraction. 

Today, various forms of managed aquifer recharge projects can be seen all over the world. In the US, they’ve <a href="http://www.artificialrecharge.co.za/coursenotes/AR_LecturePRESENTATION_Long.pdf">increased from</a> three well-fields in 1985 to approximately 72 in 2005 and many are in various stages of development. 

In Africa multiple projects are being developed in several countries including <a href="https://link.springer.com/article/10.1007/s40899-018-0213-0">Namibia</a> and <a href="http://artificialrecharge.co.za/authorising/Authorisation_rev5_PR_21Dec2010.pdf">South Africa</a>. 

South Africa’s <a href="https://www.ajol.info/index.php/wsa/article/viewFile/146982/136501">Atlantis dune field</a>, which is comprised of infiltration ponds, has been operating for over 40 years. It uses recharge basins that are larger than 50 hectares in size. The aquifer produces about four million cubic metres of water each year. This supplies the town of Atlantis with the majority of its water.

<h2>Recharging aquifers</h2>

Groundwater recharge, <a href="https://unesdoc.unesco.org/ark:/48223/pf0000132404">defined as</a> the addition of water to the aquifer once it has reached the water table, can happen in several ways:

<ul>
<li>Water flows downward, because of gravity, and reaches the water table </li>
<li>Water flows underground from one aquifer to another</li>
<li>Groundwater abstraction leads to pumping and changes in flow directions below the surface and so nearby surface water bodies release water into the connected aquifers</li>
</ul>

<figure class="align-center ">
 <img decoding="async" alt="" src="https://images.theconversation.com/files/254699/original/file-20190121-100285-1l455ef.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" srcset="https://images.theconversation.com/files/254699/original/file-20190121-100285-1l455ef.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=600&amp;h=277&amp;fit=crop&amp;dpr=1 600w, https://images.theconversation.com/files/254699/original/file-20190121-100285-1l455ef.jpg?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=600&amp;h=277&amp;fit=crop&amp;dpr=2 1200w, https://images.theconversation.com/files/254699/original/file-20190121-100285-1l455ef.jpg?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=600&amp;h=277&amp;fit=crop&amp;dpr=3 1800w, https://images.theconversation.com/files/254699/original/file-20190121-100285-1l455ef.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;h=349&amp;fit=crop&amp;dpr=1 754w, https://images.theconversation.com/files/254699/original/file-20190121-100285-1l455ef.jpg?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=754&amp;h=349&amp;fit=crop&amp;dpr=2 1508w, https://images.theconversation.com/files/254699/original/file-20190121-100285-1l455ef.jpg?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=754&amp;h=349&amp;fit=crop&amp;dpr=3 2262w" sizes="(min-width: 1466px) 754px, (max-width: 599px) 100vw, (min-width: 600px) 600px, 237px">
 <figcaption>
 
 
 </figcaption>
 </figure>

<ul>
<li>Artificial recharge. This can be done by means of borehole injection, via a well, or man-made infiltration ponds, which are permeable depressions allowing water to infiltrate into the aquifer.</li>
</ul>

This last means of recharge is managed aquifer recharge, where water is “banked” and can be used later on. It is also used in coastal aquifers, <a href="https://www.thesouthafrican.com/what-is-saline-intrusion-and-will-it-hit-cape-town/">to prevent</a> too much seawater from getting in by injecting fresh water into groundwater reservoirs. This minimises the impact which salt water has on the aquifer and extends the life of the groundwater reservoir.

There are many ways and models for managed aquifer recharge. These include: 

• Aquifer storage and recovery: water is injected into and extracted from the same borehole

• Aquifer storage, transfer and recovery: water is injected into and extracted from different boreholes in the groundwater reservoir. 

• Infiltration basin: when a large depression, made in a similar manner to a dam, allows surface water to infiltrate the soil and recharge the groundwater

• Bank filtration: wells located alongside surface water facilities are pumped to induce recharge

These are chosen based on the geology of the area or on how much water is needed. 

<h2>Successful banking</h2>

The process isn’t a magic bullet. It does have some issues. One of the major problems is that wells could get clogged up by organisms that grow due to the large amount of oxygen that accompanies water injection. But this can be solved by using heated water or chemical injections to kill off the microbes. 

For projects to be successful there also needs to be a reliable source of water, good engineering expertise and proper environmental and legal regulations. 

There also needs to be proper assessment on whether an aquifer can just be better managed – a simple, yet effective, solution that can cut costs and increase the longevity of an aquifer rather than implementing an managed aquifer recharge scheme. 

Banking water is not simple and needs meticulous planning and execution. But, in places where it is needed, the opportunities it presents allow us to minimise the impact which evaporation has on our water supplies and this means more water for more people.<img loading="lazy" decoding="async" src="https://counter.theconversation.com/content/110202/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/gaathier-mahed-185827">Gaathier Mahed</a>, Geohydrologist Department of Geosciences, <a href="http://theconversation.com/institutions/nelson-mandela-university-1946">Nelson Mandela University</a>

This article is republished from <a href="http://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/how-we-can-bank-water-underground-for-use-later-on-110202">original article</a>.

Here’s how water can be banked underground in order to be used later on

<a href="https://www.cnbc.com/tom-popomaronis/">By Tom Popomaronis</a>



We tend to think about success in terms of wealth and accomplishments. That’s a fair measurement, but the problem is that when we obsess over the victories, we tend to overlook the sacrifices required in order to get there. In fact, neglecting to account for the&nbsp;<a class="" href="https://www.cnbc.com/2016/12/30/13-things-you-should-give-up-if-you-want-to-be-successful.html">inherent sacrifices</a>&nbsp;is one reason why so many of us have a hard time sticking to healthy habits and following up on goals.



Time is a factor when it comes to making sacrifices. As Warren Buffett famously said, “It’s the only thing you can’t buy. I mean, I can buy anything I want, basically, but I can’t buy time.”



He’s absolutely right. In order to pursue hobbies with high returns when you only have 24 hours in a day, you must must forgo activities with low returns. Should you watch another episode of your favorite Netflix show&#8230;or give up TV for two months so you can plant that garden you always dreamed about?



Making the decision isn’t easy, but the good news is that we already do this innately. A&nbsp;<a class="" href="http://csjarchive.cogsci.rpi.edu/Proceedings/2009/papers/285/paper285.pdf">2009 study</a>&nbsp;from the University of Adelaide’s School of Psychology found that people are “far less willing to keep many options open” when some have bigger rewards than others. If the payoffs are unknown, however, we have a harder time giving them up. That’s why doing an activity audit is so important. You have to actually take the time to figure out the opportunity costs and gains of each and what to pursue over the other. 



Bill Gates and Warren Buffett, two incredibly successful business moguls, are two prime examples of how strategically giving up some activities to focus on more rewarding ones can help you reach your goals.The activity audit



While Gates’ love for technology helped him build a multi-billion-dollar company, he refuses to let it distract him from the important things.



“I stopped listening to music and watching TV in my 20s. It sounds extreme, but I did it because I thought they would just distract me from thinking about software,” the billionaire wrote in a&nbsp;<a class="" href="https://www.gatesnotes.com/Books/The-Headspace-Guide-to-Meditation-and-Mindfulness">blog post</a>. He applies the same values when it comes to parenting. Gates didn’t allow his kids to have cellphones until they were 14 (on average, kids are given their first cellphones at age 10). He also keeps a “no phones” rule during family meals.



Buffett is no fan of the distractions of technology, either. The Berkshire Hathaway CEO doesn’t keep a computer in his office. He limits Internet distractions by owning a flip phone — despite the many times&nbsp;<a href="https://www.cnbc.com/2018/01/10/warren-buffet-isnt-eager-to-trade-his-flip-phone-in-for-an-iphone.html" class="">Apple CEO Tim Cook tried convincing him</a>&nbsp;to join the iPhone revolution.Hobbies with high returns



Just because an activity is “productive” doesn’t mean it can’t be fun. The hobbies you do outside of work should always be rooted in what you’re passionate about. If you find it truly enjoyable and rewarding, stick with it. Simply sitting still can do wonders for your brain. It increases creativity, improves your decision-making skills and can even force you to come up with innovative solutions to existing problems.



For Buffett, that hobby is playing&nbsp;<a href="http://whartonmagazine.com/issues/summer-2015/playing-mind-games-with-warren-buffett/#sthash.S7DpT8Oy.dpbs" class="">bridge</a>, a game that requires a lot of patience, strategy and tactics. “It’s got to be the best intellectual exercise out there,” he claims. “You’re seeing new situations every ten minutes. Bridge is about weighing gain-loss ratios. You’re doing calculations all the time.”



Buffett also has a lifelong hobby of reading. When asked about his secret to success during a&nbsp;<a href="https://www.cnbc.com/2016/11/16/warren-buffetts-reading-routine-could-make-you-smarter-suggests-science.html" class="">Columbia Business School talk</a>, he picked up a big pile of papers and replied, “Read 500 pages like this every day. That’s how knowledge works. It builds up, like compound interest.” Even today, the billionaire investor spends 80 percent of his day reading.Every hour counts



In that vein, Malcolm Gladwell explains in his book “<a class="" href="https://www.amazon.com/Outliers-Story-Success-Malcolm-Gladwell/dp/0316017930">Outliers: the Story of Success</a>&nbsp;” how part of Gates’ success was built on the foundation of the “<a class="" href="http://www.talkativeman.com/bill-gates-10000-hour-rule/">10,000 hour rule</a>. ” The rule states that world-class mastery of a skill requires 10,000 hours of practice. In Gates’ case, it was programming practice.



Obviously, that’s a lot of time — and not all of us can afford to commit 10,000 hours into mastering a skill. The takeaway here is that Gates found something he loved, devoted his time to it, mastered the skill and built a business out of it. You can follow in his footsteps (to the best of your abilities, of course) by figuring out what you have the potential to be an expert in, and then selecting activities that will help you grow in that area.Keep moderation in mind



You can still enjoy the mindless joys of life. Go to happy hour. Binge on Netflix for an entire weekend. Go on a shopping spree if it’ll make you feel better. Gates’&nbsp;<a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC2863117/" class="">break from TV and music only lasted about five years.&nbsp;</a>It’s just a matter of cutting back on the less productive ones. And when you’re feeling uninspired, remember the tunes of Kenny Rogers: “You got to know when to hold ‘em, know when to fold ’em, know when to walk away – and know when to run.”



Tom Popomaronis&nbsp;is a commerce expert and proud Baltimore native. Currently, he is the Senior Director of Product Innovation at the&nbsp;<a class="" href="https://rhawkinsgroup.com/">Hawkins Group</a>. His work has been featured in&nbsp;Forbes, Fast Company&nbsp;and&nbsp;The Washington Post. In 2014, he was named one of the “40 Under 40” by the&nbsp;Baltimore Business Journal.



This article was first published by CNBC&nbsp;https://www.cnbc.com/2019/01/24/warren-buffett-and-bill-gates-agree-giving-up-this-one-thing-will-make-you-more-successful.html&nbsp;and is republished with its permission.

Warren Buffett and Bill Gates prove that quitting this 1 bad habit will help make you more successful in life

PRETORIA (Reuters) &#8211; South Africa’s agricultural industry body AgriSA will approach banks, agribusiness and government to raise 3 billion rand ($220 million) to help farmers hit by severe drought, its executive director said on Friday. 



Farmers have faced dry conditions over most of the nation for the last year, even as they are still recovering from a disastrous El Nino-induced drought in 2015.



“We have basically reached a point now where we don’t have any more fat in the system. There is no buffer any more in the agricultural sector,” AgriSA boss Omri van Zyl told reporters.



Van Zyl said the group will also speak to the government’s National Disaster Management agency to get access to the contingency reserves.



“We see this drought again as a national emergency because it is going to have an impact directly on consumer prices, it is going to have an impact on food affordability and it has an impact on the farmers on the land,” said van Zyl.



A survey of producers showed that 31,000 jobs and 7 billion rand ($510 million) in potential revenue were lost since January last year because of drought, AgriSA said.



White maize prices are just off a near two-year peak last week.



“The farmers didn’t get enough (income) to recuperate in 2016 so the grain sector is in a lot worse financial situation than it was. Our ability to absorb this current drought is under pressure,” Jannie de Villiers, head of producers body Grain SA, also told reporters at the briefing.



In early estimates for the 2018/2019 season, farmers have planted around 95 percent of the country’s yellow maize, which is mainly used in animal feed, and between 70 to 80 percent of the white maize, pushing prices higher.



The white maize futures contract due in March traded up 2.76 percent to 3,088 rand on Friday, just under a near two-year high of 3,255 rand reached last week.



South Africa’s official Crop Estimates Committee, which in October estimated farmers would plant 2.448 million hectares of maize in the 2018/2019 season, is expected to release the preliminary area planted estimates on Jan. 29.



($1 = 13.6750 rand)



Reporting by Tanisha Heiberg; Editing by Andrew Cawthorne

Why South African farmers are seeking $220 million

#WEF19: Africa’s Leadership in the New Global Context with Rwanda’s president Paul Kagame and South Africa’s president Cyril Ramaphosa

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



Your first job may not always feel like the most inspiring. But according to billionaire businessman&nbsp;<a class="" href="https://www.cnbc.com/jack-ma/">Jack Ma</a>, it will be your most important.



If he could share one piece of advice with young people, that would be it, the&nbsp;<a href="https://www.cnbc.com/quotes/?symbol=BABA" class="">Alibaba</a>&nbsp;founder told an audience at the&nbsp;<a href="https://www.cnbc.com/davos-world-economic-forum/" class="">World Economic Forum in Davos</a>.



“Your first job is your most important,” Ma said Wednesday during a session entitled “Meet the Leader with Alibaba Executive Chairman Jack Ma.”



That doesn’t mean it has to be your “dream job” — or even one you particularly enjoy, he continued. But it does have to be one where you can learn from others and stretch yourself.



 “Not necessarily a company that has a great name, (but) you should find a good boss that can teach you how to be a human being — how to do things right, how to do things properly — and (you should) stay there,” said Ma. 



That requires staying the course, allowing yourself time to figure out your strengths and where you want to end up — and all that takes time.



“Give yourself a promise: ‘I will stay there for three years.’ Then you start to move.”



Ma, who has been at the helm of the&nbsp;<a href="https://www.cnbc.com/china/" class="">Chinese</a>&nbsp;e-commerce behemoth for almost two decades, said he’s seen young workers often quit their jobs prematurely without allowing themselves time to bed in.



“It’s not good,” he said, mimicking people scrambling. “I’ve seen a lot of disasters.”



Ma’s comments mirror common criticism of the millennial workforce, which is accused of job-hopping and valuing workplace perks over longer-term career progression.



The 54-year-old’s advice reflects his own experience. Ma famously started out his career as an English teacher in&nbsp;<a href="https://www.cnbc.com/search/?query=Hangzhou" class="">Hangzhou</a>, China before banding together with a group of co-founders in the late-90′s to create what would become one of the world’s most valuable companies.



“One of the reasons I survived for 20 years was because I was a teacher,” Ma said, referring to his career at Alibaba.



That formative teaching job, he said, helped him learn to identify talented people and inspire them to excel. Having that skill enabled him to build and manage a strong team at Alibaba, he noted.



“You always want your students to be better than you, to be a mayor, not in prison,” said Ma.



“When I hire people, I hire the people who are smarter than I am. People who four, five years later could be my boss. I like people who are positive and who never give up,” he added.



Ma, who announced last year that he will&nbsp;<a class="" href="https://www.cnbc.com/2018/09/10/alibaba-jack-ma-succession-plan-daniel-zhang-to-take-over-as-chairman.html">step down as executive chairman of Alibaba</a>&nbsp;in September 2019, has said he hopes to return to his teaching career in the future.



This article was first published by CNBC https://www.cnbc.com/2019/01/24/careers-advice-jack-ma-alibaba-says-first-job-is-the-most-important.html and is republished with its permission.

Why Alibaba’s Jack Ma says your first job is the most important

JOHANNESBURG (Reuters) &#8211; South Africa’s Eskom could be split into three separate firms under proposals from experts President Cyril Ramaphosa has hired to help revive the ailing state power company, two sources familiar with the matter told Reuters. 



Reforming Eskom is vital to get Africa’s most industrialised economy firing on all cylinders. It supplies more than 90 percent of the nation’s power but is drowning in debt.



A Sustainability Task Team, picked by Ramaphosa, is due to report to the president next week, but shared its preliminary thoughts about Eskom with senior members of the ruling African National Congress (ANC) at a two-day meeting that ended on Monday.



One senior ANC source briefed by the task team said it proposed a “functional unbundling of Eskom,” which would involve separating it into three state-owned entities responsible for power generation, distribution and transmission.



A second source who met the task team recently confirmed it favoured splitting up Eskom &#8211; a strategy which analysts say should encourage greater efficiency and transparency.



Ramaphosa’s task team also told senior ANC members that Eskom, which has around 420 billion rand ($30 billion) of debt and is regularly cited as the biggest threat to the country’s public finances, needed another government bailout to survive, said the senior source, who asked not to be named.



“The ANC recognises that there is a need for a serious turnaround strategy for Eskom. But it feels very strongly that it should not lead to privatisation or massive job losses,” the senior source said.



Eskom’s debt pile was built up due to heavy staffing, stagnating power sales and rising coal costs that it has not been able to pass on to customers, analysts say. Cost overruns on building two major power plants have also hit its finances.



<h3 class="wp-block-heading">DIVISIONS</h3>



Traders said leaks about the task team’s proposals, which were also reported in South Africa’s Business Day newspaper, pushed Eskom bonds higher on Thursday, with the 2023 and 2025 bonds hovering near five-month highs.



Ramaphosa has made shoring up ailing state firms like Eskom a priority since replacing Jacob Zuma as president in February, but progress has been slow because of severe fiscal constraints.



He also has to deal with divisions in the ANC over how to manage the economy and trade unions which want to avoid layoffs.



Ramaphosa rejected a proposal by Eskom’s board of directors last year for the government to take 100 billion rand of the utility’s debt, saying other options needed to be looked at.



He told the World Economic Forum in Davos this week that his government would release Eskom’s turnaround plan “in the next few weeks”.



The task team’s members have agreed not to disclose their recommendations publicly, and Ramaphosa could choose to ignore their ideas. But analysts say action is needed as creditors are reluctant to lend more to Eskom without a credible rescue plan.



Eskom spokesman Khulu Phasiwe said he could not comment on the task team’s proposals. “The presidency will make formal pronouncements on this matter,” he told Reuters.



($1 = 13.7998 rand)



Additional reporting by Karin Strohecker; Editing by James Macharia and Edmund Blair

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South Africa’s Shoprite sees biggest fall in almost 20 years, here’s why

Why genomic research on the African continent needs a major boost

Should South Africa’s state power firm Eskom split? What you need to know…

Is Facebook paying users to install an app that could collect all kinds of data from their phones?

Zimbabwe activist pastor Evan Mawarire released on bail

Here’s how to disable FaceTime so people can’t spy on you by exploiting a bug

There’s a bug on Apple’s FaceTime that lets you listen in on people you call, even if they haven’t picked up their iPhone

How a simple mistake set in motion the start of a billion-dollar business

Zimbabwe unions issue government with ultimatum to make a new salary offer or face a strike, what you need to know

3 things to do if you’re offered a promotion without a raise

These are the fastest-growing jobs of the future

Here’s how water can be banked underground in order to be used later on

Warren Buffett and Bill Gates prove that quitting this 1 bad habit will help make you more successful in life

Why South African farmers are seeking $220 million

#WEF19: Africa’s Leadership in the New Global Context with Rwanda’s president Paul Kagame and South Africa’s president Cyril Ramaphosa

Why Alibaba’s Jack Ma says your first job is the most important

South Africa’s Eskom could be split into three separate firms, what you need to know

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