By Chris Yelland, EE Publishers



Eskom has applied to the National Energy Regulator of South Africa (NERSA) for a 15% tariff increase from 1 April 2019 for three consecutive years compounded, on top of a 4,5% RCA price increase already awarded by NERSA for this date, and further RCA applications in the pipeline.



The power utility is facing dire financial constraints with excessive corporate debt of more than R420-billion (as per its interim results presentation on 28 November 2018).



Current outstanding arrear municipal and Soweto debt (for electricity delivered but not paid for) amounts to some R28-billion, and is rising by about R1-billion a month.



It would appear clear that Eskom cannot simply pass its severe financial sustainability problems on to the customer through increased tariffs. When NERSA does not give Eskom what it wants, others need to step in to help share the burden.



Eskom itself must share the burden through a lower rate of return on assets, increased efficiency and belt-tightening across the board.



The shareholder – namely government and thus the taxpayer – must share the burden through further equity injections (bailouts) linked to performance in terms of a credible recovery plan supported by government and the Treasury.



Eskom executives, management, staff and workers must share the burden through reduced pay, forgoing bonuses, reduced staff numbers, retrenchments and improved productivity.



In their own interests and to protect their existing Eskom debt, financial institutions, banks and lenders must share the burden through refinancing of existing Eskom loans with better repayment terms and lower interest rates, and by extending new loans even though with higher risk



To protect their existing Eskom business, coal suppliers must share the burden through better prices and special pricing agreements to reduce Eskom’s primary energy costs.



The justice department, police, director of public prosecutions, Hawks, courts and Eskom itself must all play their part to root out and punish perpetrators of fraud, corruption, maladministration and unauthorised expenditure at Eskom, without fear or favour.



Simply expecting electricity customers to bear the burden alone through huge tariff increases will just accelerate the utility death spiral, with severe economic consequences for the whole country.



All the combined efforts must of course be conditional upon Eskom implementing a credible restructuring and recovery plan supported by government, business, labour, communities and civil society.



Article supplied by EE Publishers.

Op-Ed: Is there a way to deal with Eskom’s ever-rising electricity tariffs?

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



Economic powerhouses like the <a class="" href="https://www.cnbc.com/united-states/">United States</a>, <a class="" href="https://www.cnbc.com/china/">China</a> and <a class="" href="https://www.cnbc.com/japan/">Japan</a> may be home to the highest proportion of the world’s wealthy, but when it comes to minting new millionaires, opportunities abound in some surprising places.



That’s according to a&nbsp;<a href="https://www.wealthx.com/report/high-net-worth-handbook-2019/?utm_campaign=HNWH2019&amp;amp;utm_source=broadcast&amp;amp;utm_medium=referral&amp;amp;utm_term=hnwh-2019-press&amp;amp;utm_source=broadcast&amp;amp;utm_medium=referral" class="">new report from wealth research firm Wealth-X</a>, which found that the countries on track for the fastest growth in their wealthy populations are select emerging nations across Africa, Asia and Europe.



The study, taken from Wealth-X’s inaugural “High Net Worth Handbook 2019,” drew on research from more than 540,000 high net worth individuals — those with a net worth of $1 million to $30 million — to forecast its outlook for global wealth growth over the next five years. It took into account current wealth levels, population growth estimates and anticipated future investment opportunities.



The report found the West African nation of&nbsp;<a href="https://www.cnbc.com/nigeria/" class="">Nigeria</a>&nbsp;to be the front runner, set to see its high net worth population balloon by a compound annual rate of 16.3 percent between now and 2023. It was followed by&nbsp;<a href="https://www.cnbc.com/egypt/" class="">Egypt</a>&nbsp;at 12.5 percent and&nbsp;<a href="https://www.cnbc.com/bangladesh/" class="">Bangladesh</a>&nbsp;at 11.4 percent.



Here’s the full list of the 10 fastest-growing high net worth countries:



<figure class="wp-block-image is-resized"><img loading="lazy" decoding="async" src="http://cnbc.africa/wp-content/uploads/2019/01/105680569-1547602238061wealth-x-1110x578.jpg" alt="" class="wp-image-325929" width="698" height="364"/><figcaption> Wealth-X </figcaption></figure>



The research points to a common trend among growth forecasts, whereby less developed countries with a lower initial base line — in this case wealth — see greater relative growth.



To be sure, it would be much more difficult for incumbents like the U.S. and China — with their respective millionaire populations of 8.7 million and 1.9 million — to record the same rates,&nbsp;<a href="https://www.cnbc.com/2018/09/06/crazy-rich-asians-wealth-in-asia-grows-faster-than-us-europe-in-2018.html" class="">even though China is forecast for impressive growth</a>. However, the report unearths some interesting outliers.



Poland and Kenya, for example, are “surprising cases,” the report noted, because they are not seen in traditional groupings of top emerging nations familiarized by terms such as BRICS (Brazil, Russia, India, China and South Africa) and MINT (Mexico, Indonesia, Nigeria and Turkey).



“The top ten countries with the fast growing HNW (high net worth) populations are a motley group,” the report noted. “With a growth measure we would expect to see some less affluent countries with small HNW populations but Poland and Kenya are two surprising cases.”



The sources of each of the nations’ wealth growth are disparate too. Commodity rich nations like Nigeria and Egypt can likely attribute much of their wealth accumulation to energy exports,&nbsp;<a href="http://www.worldultrawealthreport.com/" class="">Wealth-X noted in a separate report</a>&nbsp;from 2018. Meanwhile, Bangladesh — which has seen the world’s fastest growing ultra wealthy population (those with a net worth of more than $30 million) over the past five years — draws its success from rapid urbanization and increased infrastructure investment.



Vietnam, India, the Philippines and Kenya are among the other countries to feel the impact of greater structural investment. While Ukraine and Poland can attribute their much recent growth to a boon in their tech sectors.



Lastly China, a hotbed for new wealth, continues to benefit from its government’s comprehensive national economic agenda. The Asian giant is forecast to become home to 32 of the world’s 40 high net worth cities over the next five years.



This article was first published by CNBC https://www.cnbc.com/2019/01/16/countries-with-the-fastest-growing-millionaire-billionaire-populations.html and is republished with its permission.

These countries are set to see their millionaire populations skyrocket in the next 5 years

JOHANNESBURG (Reuters) &#8211; South African retailer Mr Price Group Ltd reported a much slower sales growth for the third quarter, as financially constrained consumers spent less on clothes during the crucial months of November and December.



An increase in value-added tax, a rise in unemployment and inflation levels, coupled with higher fuel prices and an interest rate increase in November have reduced spending power in South Africa, Mr Price’s largest market.



This also resulted in lower Black Friday sales in November, while in December school holidays commenced a week later than the corresponding period, the group said in a statement.



During the three-months ended Dec.29, group retail sales and other income grew 3.5 percent to 7.1 billion rand ($517.36 million), while total sales of 6.7 billion rand were 2 percent higher. This compared with an 8.5 percent increase in total sales in the corresponding period.



Comparable store sales were down 0.8 percent.



Mr Price, known for its no-frills clothing and furniture stores, has grown for more than three decades by undercutting competitors and catering to thrifty shoppers’ fashion needs. But it too was not immune to the deteriorating South African consumer confidence.



($1 = 13.7234 rand)



Reporting by Nqobile Dludla; Editing by Subhranshu Sahu

South African retailer Mr Price reported slow sales growth in Q3, what you should know

Attention entrepreneurs,creatives, sport stars and technology geeks — the 2019 FORBES AFRICA Under 30 nominations are now open. FORBES AFRICA is on the hunt for Africans under the age of 30, who are building brands, creating jobs and representing and transforming the continent, to join the Under 30 community of 2019. 



JOHANNESBURG, 17
January 2019: FORBES AFRICA is on the hunt for Africans under the age of 30,
who are building brands, creating jobs and representing and transforming the
continent, to join the Under 30 community for 2019.



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



Past honorees
include Kwesta, Nomzamo Mbatha, Ink Eze, Isaya Yunge, Jokate Mwegelo, Yannick
Nzonde, Gilbert Eugene Peters, Yemi Alade, Vere Shaba, Kevin Lubega, Davido,
Rivo Mhlari, Nasty C and Wiz Kid.



&nbsp;“2019 will
be the fifth anniversary of the FORBES AFRICA Under 30 list. Every year, there
emerges, in the continent of a billion-plus people, young luminaries who are
blazing a trail to the finish line, and the idea of the list is to unearth and
uncover them on their way up,” says FORBES AFRICA’s Managing Editor, Methil
Renuka.



In addition to
the three categories – Creatives, Technology and Business in 2018, this year, FORBES
AFRICA introduces a new category — Sports.



&nbsp;“Leaders
are also born in the world of sport. It requires grit and determination to be a
game-changer and they definitely need to be celebrated early,” says Renuka.



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



Nominations
close on 15 February 2019.



NOMINATIONS
CRITERIA:



Business and
Technology categories



<ol class="wp-block-list"><li>Must bean entrepreneur aged 29 or
 younger on 30 June 2019</li><li>Should have a legitimate
 REGISTERED business on the continent</li><li>Business or businesses should be
 two years or older</li><li>Nominees must have risked own
 money and have a social impact</li><li>Must be profit generating</li><li>Must employ people in Africa</li><li>All applications must be in
 English</li><li>Should be available and prepared
 to participate in the Under 30 Meet-Up</li></ol>



Sports
Category



<ol class="wp-block-list"><li>Must be a sports person aged 29 or
 younger on 30 June 2019</li><li>Must be representing an African
 team</li><li>Should have a proven track record
 of no less than two years</li><li>Should be making significant
 earnings</li><li>Should have some endorsement deals</li><li>Entrepreneurship and social impact
 is a plus</li><li>All applications must be in
 English</li><li>Should be available and prepared
 to participate in the Under 30 Meet-Up</li></ol>



Creatives



<ol class="wp-block-list"><li>Must be a creative aged 29 or
 younger on 30 June 2019</li><li>Must be from or based in Africa</li><li>Should be making significant
 earnings</li><li>Should have a proven creative
 record of no less than two years</li><li>Must have social influence</li><li>Entrepreneurship and social impact
 is a plus</li><li>All applications must be in
 English</li><li>Should be available and prepared
 to participate in the Under 30 Meet-Up</li></ol>



Your entry should include:



<ul class="wp-block-list"><li>Country</li><li>Full Name</li><li>Company name/Team</li><li>A short reason why they should be
 an Under 30</li><li>Links of published material about
 nominee</li><li>Contact information</li></ul>



Share your photographs, via email.
Nominations must be sent to 



<a href="mailto:30under30@abn360.com">30under30@abn360.com</a>, <a href="mailto:Ancillar.Mangena@abn360.com">Ancillar.Mangena@abn360.com</a> and Karen.Mwendera@abn360.com



All nominees
will be vetted by a panel, FORBES AFRICA editors and the editorial team.



Each year, FORBES AFRICA looks for resilient self-starters, innovators, entrepreneurs and disruptors who have the acumen to stay the course in their chosen field, come what may. Past honorees include Kwesta, Nomzamo Mbatha, Ink Eze, Isaya Yunge,Jokate Mwegelo, Yannick Nzonde, Gilbert Eugene Peters, Yemi Alade, Vere Shaba, Kevin Lubega, Davido, Rivo Mhlari, Nasty C and Wiz Kid.



&nbsp;“2019 will be the fifth anniversary of the FORBES AFRICA Under 30 list. Every year, there emerges, in the continent of a billion-plus people, young luminaries who are blazing a trail to the finish line, and the idea of the list is to unearth and uncover them on their way up,”says FORBES AFRICA’s Managing Editor, Methil Renuka. 



In addition to the three categories – Creatives, Technology and Business in 2018, this year,FORBES AFRICA introduces a new category — Sport. 



&nbsp;“Leaders are also born in the world of sport.It requires grit and determination to be a game-changer and they definitely need to be celebrated early,” says Renuka. 



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



Nominations close on 15 February 2019.



<h2 class="wp-block-heading">Nominations criteria:</h2>



<h3 class="wp-block-heading">Business and Technology categories </h3>



<ol class="wp-block-list"><li>Must bean entrepreneur aged 29 or younger on 30 June 2019</li><li>Should have a legitimate REGISTERED business on the continent</li><li>Business or businesses should be two years or older</li><li>Nominees must have risked own money and have a social impact</li><li>Must be profit generating </li><li>Must employ people in Africa</li><li>All applications must be in English</li></ol>



<h3 class="wp-block-heading">Sports Category</h3>



<ol class="wp-block-list"><li>Must be a sports person aged 29 or younger on 30 June 2019</li><li>Must be representing an African team </li><li>Should have a proven track record of no less than two years </li><li>Should be making significant earnings </li><li>Should have some endorsement deals </li><li>Entrepreneurship and social impact is a plus </li><li>All applications must be in English</li></ol>



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



<ol class="wp-block-list"><li>Must be a creative aged 29 or younger on 30 June 2019</li><li>Must be from or based in Africa</li><li>Should be making significant earnings </li><li>Should have a proven creative record of no less than two years</li><li>Must have social influence </li><li>Entrepreneurship and social impact is a plus </li><li>All applications must be in English</li></ol>



Your entry should
include: 



<ul class="wp-block-list"><li>Country</li><li>Full Name</li><li>Company name/Team</li><li>A short reason why they should be an Under 30 </li><li>Links of published material about nominee </li><li>Contact information </li></ul>



Share your photographs, via email. Nominations must be sent to Ancillar Mangena:



<a href="mailto:30under30@abn360.com">30under30@abn360.com</a> or <a href="mailto:Ancillar.Mangena@abn360.com">Ancillar.Mangena@abn360.com</a> 



All nominees will be vetted by a panel, FORBES AFRICA editors and the editorial team.



<h1 class="wp-block-heading" id="mce_1">&nbsp;</h1>

Forbes Africa Under 30 opens nominations for 2019

JOHANNESBURG (Reuters) &#8211; South African retail sales rose 3.1 percent year-on-year in November after increasing at a revised year-on-year rate of 2.1 percent in October, the statistics office said on Wednesday.



On a month-on-month basis, sales rose 3.3 percent in November. Sales were up 2.0 percent in the three months to the end of November compared with the same period last year, Statistics South Africa said.



Reporting by Olivia Kumwenda-Mtambo; Editing by James Macharia

South Africa’s retail sales rose 3.1 percent year-on-year in November

GENEVA (Reuters) &#8211; At least 890 people are believed to have been killed in ethnic violence in northwestern Democratic Republic of Congo last month, the United Nations human rights office said on Wednesday.



The toll doubles an estimate provided on Monday by a local priest and a civil society activist who said that at least 400 people had been killed in bloodshed which led the government to cancel voting there in last month’s presidential election.



“According to allegations from credible sources, at least 890 people were killed between 16 and 18 December in four villages in Yumbi territory, Mai-Ndombe province in the west of the Democratic Republic of the Congo, in what appear to have been clashes between the Banunu and Batende communities,” the U.N. human rights office said in a statement.



Communal fighting and widespread pillaging around the town of Yumbi, a normally peaceful area, led to an estimated 16,000 people seeking refuge by crossing the Congo River into the Republic of Congo, it added.



It was not clear if the violence was directly related to the election, the results of which are disputed. But it pointed to the kind of unrest that can quickly be unleashed.



The U.N. human rights office said 465 houses and buildings, including schools, a health centre, market and office of the national electoral commission, had been burned or pillaged.



“It is crucial that this shocking violence be promptly, thoroughly investigated and the perpetrators be brought to justice,” said U.N. High Commissioner for Human Rights Michelle Bachelet.



Reporting by Stephanie Nebehay; Editing by Angus MacSwan

At least 890 people killed in ethnic violence in DRC during December – UN

HARARE (Reuters) &#8211; Econet Wireless Zimbabwe, the country’s largest mobile operator, said on Wednesday its internet services had been cut off following an order from the government amid deadly protests in the country.



“We are obliged to act when directed to do so and the matter is beyond our control,” Econet said in a text message to customers, adding that all networks and providers had suspended their services.



Three people, including a police officer, died during Monday’s demonstrations in the capital and second city Bulawayo, which were called by the main labour union to protest a sharp rise in the price of fuel and economic hardship.



Zimbabweans accuse President Emmerson Mnangagwa of failing to live up to pre-election pledges to kick-start growth, having seen their purchasing power eroded by hyper-inflation, and using force to crush dissent like his predecessor Robert Mugabe.



Internet services were cut by mid-morning on Tuesday, leaving many people without access to social media platforms amid accusations that the government wanted to prevent images of its heavyhandedness from being broadcast around the world.



Mnangagwa has promised a clean break from 37-year rule of Mugabe, who was forced out in a de facto coup in November 2017.



Reporting by MacDonald Dzirutwe; editing by Darren Schuettler

Strive Masiyiwa’s Econet cuts off internet services in Zimbabwe following government order

HARARE (Reuters) &#8211; Armed Zimbabwean police arrested activist pastor Evan Mawarire at his home on Wednesday and were to charge him with inciting public violence following protests that left three people dead this week, his lawyer said.



A Reuters witness saw about a dozen heavily armed police officers bundling Mawarire into the back seat of a truck and his lawyer Beatrice Mtetwa, who was present, told reporters that the pastor would be charged at a police station.



Reporting by MacDonald Dzirutwe and Gift Sukhala; Editing by James Macharia

Zimbabwean #ThisFlag activist pastor Evan Mawarire arrested, here’s why

By Chris Bishop



President Cyril Ramaphosa said Wednesday that South Africa’s
Reserve Bank will be left alone despite concerns that the economy is not
creating enough jobs.



The Reserve Bank, a private company with shareholders,
manages the country’s monetary policy based around inflation targeting.&nbsp;



“There is no interest whatsoever to tamper or tinker with
the independence of the Reserve Bank,” Ramaphosa said at a pre-Davos breakfast
at a Johannesburg hotel.



“Our wish is as it goes about with policy it should keep an
eye on the issue of employment.”



The Reserve Bank has cropped up in many political speeches
in recent years as the South African economy has struggled. Critics say the
central bank should forget about inflation and concentrate on stimulating job
creation &#8211; an analysis dismissed as facile and unworkable by the people who run
the central bank.

President Ramaphosa: This is what we plan to do with South African Reserve Bank

By Chris Bishop&nbsp;



President Cyril Ramaphosa took on the thorny issue of land
that is likely to raise a number of uncomfortable questions at the World
Economic Forum in Davos next week.



The ruling &nbsp;African National Congress surprised many
last year when it vowed to go along with land expropriation without
compensation in line with the calls from the radical opposition party the
Economic Freedom Fighters. It sent shivers down the spine of many foreign
investors who fear it could be the thin end of a nationalisation wedge.



“It will not be done out of vengefulness where people go
around grabbing land. That is how we do things in South Africa,” Ramaphosa told
a pre-Davos breakfast in Johannesburg.



“We are not going to cut off our noses to spite our faces
but we are going to push the interests of our people.”



Ramaphosa said the furore around land has put the issue to
the top of the agenda, which was good. He said it had lit a fire under
government to move it forward in sorting out the land question.



“Landowners have also come forward saying they now realise
how important this is and have offered to &nbsp;put land into the pot.” Says
Ramaphosa.



The president said the government would concentrate on
appropriating state owned, abandoned and unused land.



The ruling ANC goes to the polls in May in the hope of
extending its nearly 25-years in power in South Africa. It is unlikely to lose
its grip on power but knows that the land issue is likely to be a vote winner.

﻿President Ramaphosa reveals what team SA, plans to tell investors in Davos on concerns over land expropriation

NAIROBI (Reuters) &#8211; Kenya’s president said early on Wednesday that security forces had killed all four militants who stormed an upscale hotel complex in Nairobi the previous day, in an attack that killed at least 14 people.



Uhuru Kenyatta said 14 civilians were confirmed dead and over 700 others had been safely evacuated.



The attack on the dusitD2 hotel began shortly after 3 p.m. on Tuesday with an explosion in the parking lot and then a suicide bomb blast in the foyer, police said.



Somali militant Islamist group al Shabaab claimed responsibility for the attack.



At least two groups of people had still been trapped inside as dawn broke, and gunfire continued to ring out around the complex in Riverside Drive.



An earlier estimate put the death toll at 15



Eleven Kenyans, an American and a Briton were among the casualties, morgue staff said. Two victims had not been identified.



Additional reporting by Katharine Houreld; Duncan Miriri; Writing by John Stonestreet

Kenya’s President Uhuru Kenyatta says militants who stormed Nairobi hotel have been killed

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



On <a class="" href="https://www.cnbc.com/make-it/">CNBC Make It</a>’s professional makeover series “Fix My Career,” bestselling management author and CNBC contributor Suzy Welch offers her no-nonsense advice to individuals looking to make a major change in their career.



In the latest episode, Welch sits down with Lisa Rachel Snyder. Snyder, 35, formerly worked in the television and film industry, and had decided to transition to entrepreneurship after her brother’s tragic death by suicide. The shock of his death inspired her to pursue a more fulfilling life, including making a career change and seeking treatment for an eating disorder she says she struggled with for 20 years.



Snyder wanted to help others build healthy relationships with food, and sought Welch’s advice on how to turn her passion into a business.



Welch says that that those looking to make it as entrepreneurs need to have three things:



<ol class="wp-block-list"><li>&nbsp;“A crazy passion for an idea”</li><li>&nbsp;“A burning desire” to be their own boss</li><li>&nbsp;“A product or service that people will actually pay money for”</li></ol>



Right now, Welch says, “Lisa’s got two out of three, and that ain’t bad.” But in order to build her business, she’ll need a clearer idea of the exact service she plans to offer.



“Lisa is at a crucial moment for any entrepreneur defining her product and its market,” she explains. “What is she selling, exactly? Who is she selling it to, and how? How much will it cost? Who else is doing the same thing? How is she different and better than her competitors?”



To help her figure out the answer to all of these questions, Welch asked Snyder to envision what she wants her life and business to look like 10 years from now. She advised her to create a business plan, and map out precisely what it is she’s selling. She told her to start thinking about where she will get her customers who truly believe in her business.



“I think about Lisa’s life as a before-and-after story,” says Welch. “Before her brother’s untimely death, she was trying out jobs and careers and searching for some elusive concept of success. After, her grief and recovery helped her find her dream and her drive: a life of helping people heal their relationship with food.”



When Welch checked in with Snyder seven months later, she’d settled on a name for her service,&nbsp;<a href="https://lisarachelsnyder.com/" class="">Beautiful Badass Method</a>, and created a seven-step program for individuals looking to develop intuitive eating habits and build self-love. She had completed a testing phase, offering the service for free for several months, and says 50 people signed up.



“I got wonderful feedback. I got testimonials,” says Snyder, who says she’s developed two online courses and also has a few speaking engagements lined up. “It was like my trial round.”



When asked how she thinks her brother would feel about what she’s doing now, Snyder responded confidently: “I think he’d be really really proud of me.”



Suzy Welch is the co-founder of the&nbsp;<a class="" href="http://jwmi.com/?mcv=jdg469">Jack Welch Management Institute</a>and a noted business journalist, TV commentator and public speaker. Think you need Suzy to fix your career? Email her at gettowork@cnbc.com.



This article was first published by CNBC https://www.cnbc.com/2019/01/14/suzy-welch-here-are-the-3-things-you-need-to-start-and-build-a-business.html and is republished with its permission.

3 signs you’ve got what it takes to be a successful entrepreneur

Terror has erupted in the streets of Nairobi. Militant group, Al-Shabaab, has claimed responsibility for the attack at Dusit D2 hotel in Nairobi, Kenya. 



<blockquote class="twitter-tweet" data-lang="en">I am in 14 Riverside drive hiding in a bathroom and we are under attack <a href="https://twitter.com/RobertAlai?ref_src=twsrc%5Etfw">@RobertAlai</a>&mdash; Ron Ng&#39;eno (@ronald_ngeno) <a href="https://twitter.com/ronald_ngeno/status/1085155029265367040?ref_src=twsrc%5Etfw">January 15, 2019</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>




<blockquote class="twitter-tweet" data-lang="en">There was a massive bombs blast then gunshots, please <a href="https://twitter.com/USEmbassyKenya?ref_src=twsrc%5Etfw">@USEmbassyKenya</a> <a href="https://twitter.com/IsraelEmergency?ref_src=twsrc%5Etfw">@IsraelEmergency</a> HELP SOS&mdash; Ron Ng&#39;eno (@ronald_ngeno) <a href="https://twitter.com/ronald_ngeno/status/1085155399001653248?ref_src=twsrc%5Etfw">January 15, 2019</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>




<blockquote class="twitter-tweet" data-lang="en">If I die I love the Lord and believe I will go to heaven please tell my family I love then I love you Caleb, Mark and Carol&mdash; Ron Ng&#39;eno (@ronald_ngeno) <a href="https://twitter.com/ronald_ngeno/status/1085156127434788864?ref_src=twsrc%5Etfw">January 15, 2019</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>




<blockquote class="twitter-tweet" data-lang="en">We are still in bathroom gunshots in building, please pray for us.&mdash; Ron Ng&#39;eno (@ronald_ngeno) <a href="https://twitter.com/ronald_ngeno/status/1085190507129491457?ref_src=twsrc%5Etfw">January 15, 2019</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>




<blockquote class="twitter-tweet" data-lang="en">Phone charge almost off, please pray&mdash; Ron Ng&#39;eno (@ronald_ngeno) <a href="https://twitter.com/ronald_ngeno/status/1085190741461102595?ref_src=twsrc%5Etfw">January 15, 2019</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>




<blockquote class="twitter-tweet" data-lang="en">This is after the 1st bomb. I told my friend we run out fast. Some locked themselves in offices. I hope they are well <a href="https://twitter.com/hashtag/riverside?src=hash&amp;ref_src=twsrc%5Etfw">#riverside</a> <a href="https://t.co/5QtsEQoj75">pic.twitter.com/5QtsEQoj75</a>&mdash; Kebaya (@armchairtycoon) <a href="https://twitter.com/armchairtycoon/status/1085164591208976384?ref_src=twsrc%5Etfw">January 15, 2019</a></blockquote>
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<blockquote class="twitter-tweet" data-lang="en">Security Alert: There is an ongoing attack at DusitD2, 14 Riverside Nairobi <a href="https://t.co/omezoIoD13">pic.twitter.com/omezoIoD13</a>&mdash; ツ steven 24 rona ツ ?? (@stevenrona) <a href="https://twitter.com/stevenrona/status/1085163431945105409?ref_src=twsrc%5Etfw">January 15, 2019</a></blockquote>
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<blockquote class="twitter-tweet" data-lang="en">Explosion, heavy gunfire at 14 Riverside in Chiromo, Nairobi that houses a hotel, bank and several offices; Recce Squad at the scene. <a href="https://t.co/8eQJEfSp8z">pic.twitter.com/8eQJEfSp8z</a>&mdash; Vincent Babu (@BabuHamis) <a href="https://twitter.com/BabuHamis/status/1085166596178497536?ref_src=twsrc%5Etfw">January 15, 2019</a></blockquote>
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<blockquote class="twitter-tweet" data-lang="en">Terror Attack and heavy gunfire reported in Nairobi on 14 Riverside Drive off. Kenyan Special forces have reportedly taken over. Video shared via WhatsApp. <a href="https://t.co/keuqWUQtxX">pic.twitter.com/keuqWUQtxX</a>&mdash; #CanaryReports (@CanaryMugume) <a href="https://twitter.com/CanaryMugume/status/1085163911882702849?ref_src=twsrc%5Etfw">January 15, 2019</a></blockquote>
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<blockquote class="twitter-tweet" data-lang="en">Let&#39;s pray for the casualties reported to be currently attacked by terrorists at Dusit Hotel 14 Riverside Drive in Westlands, Nairobi Kenya <a href="https://twitter.com/hashtag/RiversideAttack?src=hash&amp;ref_src=twsrc%5Etfw">#RiversideAttack</a> <a href="https://t.co/sx4O2VGpci">pic.twitter.com/sx4O2VGpci</a>&mdash; LArch. Meshack Khamala (@Prylade) <a href="https://twitter.com/Prylade/status/1085166925250998274?ref_src=twsrc%5Etfw">January 15, 2019</a></blockquote>
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<blockquote class="twitter-tweet" data-lang="en"><a href="https://twitter.com/hashtag/BREAKING?src=hash&amp;ref_src=twsrc%5Etfw">#BREAKING</a>: Al-Shabaab claims responsibility at Dusit D2 hotel in <a href="https://twitter.com/hashtag/Nairobi?src=hash&amp;ref_src=twsrc%5Etfw">#Nairobi</a>, <a href="https://twitter.com/hashtag/Kenya?src=hash&amp;ref_src=twsrc%5Etfw">#Kenya</a>. Tune in on <a href="https://twitter.com/hashtag/CNBCAfrica?src=hash&amp;ref_src=twsrc%5Etfw">#CNBCAfrica</a> as we bring you the live coverage &gt;&gt; <a href="https://t.co/l0g4UQjptw">https://t.co/l0g4UQjptw</a> <a href="https://t.co/yDy4v7jFv6">pic.twitter.com/yDy4v7jFv6</a>&mdash; CNBC Africa (@cnbcafrica) <a href="https://twitter.com/cnbcafrica/status/1085184154294136832?ref_src=twsrc%5Etfw">January 15, 2019</a></blockquote>
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[IN TWEETS] Nairobi under explosive attack

THE HAGUE (Reuters) &#8211; International Criminal Court judges on Tuesday acquitted former Ivorian leader Laurent Gbagbo of all war crimes charges and ordered his immediate release in a blow to prosecutors who have lost other major cases in recent years. 



Presiding Judge Cuno Tarfusser said prosecutors failed to prove their case against Gbagbo and co-defendant Charles Blé Goudé, a close ally and former political youth leader, who were ordered to be set free.



“The majority finds that the prosecution has failed to demonstrate there was a common plan to keep Mr. Gbagbo in power that included the commission of crimes against civilians,” Tarfusser said.



Outside the courthouse, dozens of Gbagbo supporters, many who travelled to The Hague by bus from Paris, broke into cheers and dancing when the verdict was announced.



“Ooh-la-la, the judge completely dropped the charges,” said Gbagbo supporter Olivier Kipre in the Ivorian capital Abidjan.



“I’m so joyful. I will become crazy today because I didn’t believe he would be released.”



Gbagbo was the first former head of state to stand trial at the ICC.



Acquittal was a major setback for the prosecution, stung by defeats in cases against Jean-Pierre Bemba, the Congolese ex-vice president released last year after his war crimes conviction was overturned, and Kenyan President Uhuru Kenyatta, who had charges against him dropped in 2015.



Prosecutors have only won three war crimes convictions over the past 15 years.



Gbagbo, 73, and Goudé, had been on trial since 2016 for war crimes allegedly committed under Gbagbo’s leadership.



The former leader faced four counts of crimes against humanity, including murder, rape, persecution and other inhumane acts during post-electoral violence in Ivory Coast between December 2010 and April 2011, when Gbagbo refused to accept defeat by rival Alassane Ouattara.



“There is no need for the defence to submit further evidence as the prosecutor has not satisfied the burden of proof,” added the judge Tarfusser.



Gbagbo heard the ruling dressed in a dark blue suit, and the judge had to order supporters in the public gallery to calm down as they erupted in cheers.



Additional reporting by Toby Sterling in Amsterdam and Ange Aboa in Abidjan; Writing by Anthony Deutsch; Editing by Andrew Cawthorne

Former Ivorian leader Laurent Gbagbo acquitted of all war crimes charges, what you need to know

DAR ES SALAAM (Reuters) &#8211; Tanzania’s central bank has transferred the assets and liabilities of Bank M to Azania Bank, Deputy Governor Bernard Kibesse said on Tuesday.



The Bank of Tanzania took over the management of Bank M in August saying it had critical liquidity problems and was unable to meet its obligations.



“After acquiring the assets and liabilities of Bank M, Azania Bank will now have a capital of 164 billion Tanzanian shillings ($71.46 million), which is way above the minimum capital requirement of 15 billion shillings,” Kibesse told a news conference.



At the time it was put under administration, Bank M had an asset base of 1 trillion shillings.



“Bank M failed to meet liquidity requirements and could not meet its maturing obligations, hence the decision by the central bank to put the bank under administration,” Kibesse said.



Tanzania’s financial services sector is dominated by lenders such as CRDB Bank and NMB Bank.



In December, the International Monetary Fund said nearly half of Tanzania’s 45 banks were vulnerable to adverse shocks and risk insolvency in the event of a global financial crisis.



($1 = 2,295.0000 Tanzanian shillings)



Reporting by Fumbuka Ng&#8217;wanakilala; writing by George Obulutsa; editing by Jason Neely

Here’s why Tanzania’s Bank M assets and liabilities have been transferred to Azania Bank

<a href="https://www.cnbc.com/kathleen-elkins/">By Kathleen Elkins</a>



Amazon CEO Jeff Bezos and his wife of 25 years, <a class="" href="https://www.cnbc.com/2019/01/09/mackenzie-bezos-could-become-one-of-the-richest-women-in-the-world.html">MacKenzie</a>, announced in a tweet Wednesday that <a class="" href="https://www.cnbc.com/2019/01/09/jeff-bezos-and-wife-mackenzie-are-divorcing-.html">they are divorcing</a>. The news started an ongoing conversation about the <a class="" href="https://www.cnbc.com/2019/01/10/bezos-divorce-highlights-usefulness-of-prenuptial-agreements.html">usefulness of a prenuptial agreement</a>, since, TMZ reports, the couple <a class="" href="https://www.tmz.com/2019/01/10/jeff-bezos-prenup-mackenzie-lauren-sanchez-divorce-affair/">did not have one</a>.



Do you need one? How do you know?&nbsp;<a href="https://www.cnbc.com/make-it/" class="">CNBC Make It</a>&nbsp;asked some experts to help you figure it out.What is a prenup?



“A prenuptial agreement is an agreement entered before marriage,” says New York City divorce lawyer&nbsp;<a href="https://nycdivorcelawyer.com/" class="">Jacqueline Newman</a>. “Generally, what prenups will cover are the two big D’s in life: divorce and debt.



“Depending on how much you want to put into the agreement, it has the capacity to dictate how assets are going to get distributed upon divorce, how spousal support — or alimony — is going to be distributed, and it also will deal with the state rights.”



What a prenup doesn’t address, Newman says, is anything to do with kids: “It cannot address custody or child support.”Who should consider a prenup?



Contrary to popular belief, prenups aren’t only for the super rich, says certified financial planner at Betterment&nbsp;<a href="https://www.betterment.com/resources/author/nickholeman/" class="">Nick Holeman</a>. But “they are expensive,” he says. “Depending on how complex the situation is and where you live and which attorney you use, I’ve seen them be anywhere from $2,000 to $15,000 or more.



“It’s not just a little purchase and so I do think you need to have some assets to justify it, otherwise it’s probably not worth the cost.”



A general rule of thumb is that “if you have a few hundred thousand dollars [in assets], you should at least consider a prenup,” says Holeman. “But in my experience working with clients, the big cause for actually needing a prenup isn’t necessarily on the dollar amount.”



Rather, “it’s when there are unequal amounts coming in from the marriage.”



In other words, if one member of the couple has a much higher income or significantly more assets than the other, it’s worth considering a prenup. “When one person has way more than the other, that’s where it gets a little dicey,” says Holeman.



If you’re both bringing in roughly equal amounts to the marriage, a prenup is “less needed, because it’s more of an equal playing field between both spouses,” says Holeman. Though, of course, he adds, that doesn’t mean you shouldn’t discuss getting one.



Newman agrees. Besides unequal income or assets, there are other reasons to consider getting a prenup, she says: If you own a business, are inheriting family money, had a prior marriage or you actively manage your assets.



“Let’s say you have $1 million in a brokerage account and you’re actively managing it and it appreciates to $1.3 million during the marriage,” she says. “That $300,000 worth of appreciation would be considered marital” in New York (<a href="https://www.hg.org/divorce-law-center.html" class="">laws vary by state</a>). Without a prenup, depending on where you live, that money could get divided evenly in the event of a split.



Overall, while the topic of a prenup can be uncomfortable to bring up, “marriage is a contract, and it’s a super expensive contract if it doesn’t work out,” says wealth manager and bestselling author <a class="" href="https://davidbach.com/">David Bach</a>. “It’s not fun to do — it’s difficult to do because it’s another contract — but you’re basically pre-negotiating what’s going to happen if the marriage doesn’t work.”



And that happens more than you may think:&nbsp;<a href="https://www.apa.org/topics/divorce/" class="">The divorce rate in America is still quite high</a>, although&nbsp;<a href="https://www.bloomberg.com/news/articles/2018-09-25/millennials-are-causing-the-u-s-divorce-rate-to-plummet" class="">millennials are doing their part to bring it down</a>. They’re divorcing less, partly because they’re marrying later if they marry at all, experts say.&nbsp;<a href="https://www.cnbc.com/2019/01/09/millennials-are-talking-about-debt-and-finances-more-before-marriage.html" class="">Millennials are also much more comfortable talking about money</a>&nbsp;than older generations.



Seen in that light, discussing a prenup with your partner could be an opportunity to grow as a couple. “I’ve had experiences where prenuptial agreements have actually been a strengthener of the marriage,” says Newman.



“If prenuptial agreement discussions are handled properly, it really can give everybody the vehicle to be able to learn how to have difficult conversations and talk about things that are uncomfortable — because marriage isn’t easy and it’s important to be able to have tough conversations with your spouse.”



This article was first published by CNBC https://www.cnbc.com/2019/01/14/how-to-figure-out-if-you-need-to-get-a-prenup.html and is republished with its permission.

Billionaire Amazon founder Jeff Bezos didn’t get a prenup—do you need one? Here’s what experts say

JOHANNESBURG (Reuters) &#8211; South Africa’s rand steadied against the dollar in early trade on Tuesday ahead of closely watched data releases including mining output later in the day and an interest rates decision on Thursday.



Reporting by Olivia Kumwenda-Mtambo; Editing by Subhranshu Sahu

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Op-Ed: Is there a way to deal with Eskom’s ever-rising electricity tariffs?

These countries are set to see their millionaire populations skyrocket in the next 5 years

South African retailer Mr Price reported slow sales growth in Q3, what you should know

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﻿President Ramaphosa reveals what team SA, plans to tell investors in Davos on concerns over land expropriation

Kenya’s President Uhuru Kenyatta says militants who stormed Nairobi hotel have been killed

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[IN TWEETS] Nairobi under explosive attack

Former Ivorian leader Laurent Gbagbo acquitted of all war crimes charges, what you need to know

Here’s why Tanzania’s Bank M assets and liabilities have been transferred to Azania Bank

Billionaire Amazon founder Jeff Bezos didn’t get a prenup—do you need one? Here’s what experts say

South Africa’s rand stabilises against the US dollar in early trade

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President Ramaphosa reveals what team SA, plans to tell investors in Davos on concerns over land expropriation