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<p>Elsie Kanza, Head of Africa &#038; Member Executive Committee, WEF spoke to CNBC Africa’s Chris Bishop on the importance of strengthening trade ties within Africa and how the continent should take advantage of the fourth industrial revolution to grow its economies.</p>


World Economic Forum: Elsie Kanza on why Africa’s integration is important for trade

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<p>The World Economic Forum (WEF) held a pre-meeting press conference with South Africa&#8217;s Minister of Finance, Tito Mboweni. CNBC Africa’s Head of Programming Chris Bishop unpacks events that unfolded.</p>


Shaping inclusive growth and shared futures in 4IR: WEF Africa holds media briefing ahead of WEF 2019

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<p>CNBC Africa brings you the Road to Cape Town, as we build-up to the World Economic Forum on Africa that will take place between the 4th and 6th of September. The gathering of African leaders and experts from around the world is set to look at growth and development opportunities on the continent with a particular focus on the African Continental Free Trade Area as well the disruptive impact of the Fourth Industrial Revolution.</p>


Road to WEF Cape Town: What the Africa free trade agreement means for the continent

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<p>CNBC Africa brings you the Road to Cape Town, as we build-up to the World Economic Forum on Africa that will take place between the 4thand 6thof September. CNBC Africa’s Kenneth Igbomor discusses this year’s theme which is; Shaping Inclusive Growth and Shared Futures in the 4thIndustrial Revolution with Teju Abisoye; Acting Executive Secretary at the Lagos State Employment Trust Fund, Frank Aigbogun, is the Publisher and CEO of Businessday media and Abayomi Awobokun, CEO of ENYO Retail and Supply&#8230;.</p>


Road to WEF Cape Town: How West African economies can foster inclusive growth in the 4IR

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<p>Optimists have argued that the Forth Industrial Revolution gives Africa a chance to leapfrog and catch up with the rest of the world. Klaus Schwab, the founder of the World Economic Forum, argues that the single most important challenge facing humanity today is how to understand and shape the new technology revolution. What exactly is this revolution, and why does it matter, especially for Africa?  As we continue the road to the WEF in Cape Town CNBC Africa is joined by the Head of Global Operations and Integrations at Zipline, Israel Bimpe&#8230;.</p>


Road to WEF Cape Town: Equipping Africa’s next generation for the Forth Industrial Revolution

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<p>Digital technologies are fast becoming integrated into businesses and industries across the globe and the World Economic forum has found a solution to the issues that arise with these new technologies by establishing the centre for the Fourth Industrial Revolution. They are bringing experts into Africa as the World Economic forum has consulted with the South African minister of Science and Technology, Mmamoloko Kubayi-Ngubane to launch Africa&#8217;s first Fourth Industrial Revolution centre in South Africa. Murat Sonmez, Member of the Managing Board and Head of the Centre for the Fourth Industrial Revolution Global Network joins CNBC Africa for more&#8230;.</p>


WEF, SA to launch Africa’s first Fourth Industrial Revolution centre

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<p>One hundred and twenty seven individuals changing the world joined this year’s cohort of &#8211; WEF-Young Global Leaders, a dynamic community of people under the age of 40 who represent the best of their generation.</p>


Zimbabwean minister makes prestigious WEF Young Global Leaders 2019 list

World Economic Forum: Here are WEF’s Young Global Leaders pushing boundaries and changing the World in 2019

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<p>Following the World Economic Forum’s Globalisation 4.0 theme this year, the private and public sector was invited to a Fourth Industrial Revolution workshop on the 7th of March at the Industrial Development Cooperation in Sandton. CNBC Africa’s Chris Bishop caught up with Mark Nasila, Chief Analytics Officer of Consumer Banking and Chief Risk Office at FNB and asked him about the future of the digital economy and how the banking sector will be dealing with this.</p>


The impact of WEF’s Globalisation 4.0 on SA companies

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


<p>KAMPALA (Reuters) &#8211; Ugandan President Yoweri Museveni said telecom firm MTN Uganda needs to sell shares on the local stock exchange to facilitate domestic ownership of the company and ensure more of the money it earns stays in the country. </p>



<p>A unit of South Africa’s MTN Group, the company is the East African country’s largest telecommunications firm, controlling a subscriber base of more than 10 million.</p>



<p>However, relations between MTN Uganda and authorities have become strained after the country this week deported two of its executives after accusations they were compromising national security.</p>



<p>Museveni made the comments while meeting MTN Group’s President and CEO Rob Shuter on the sidelines of the World Economic Forum in Davos.</p>



<p>“It is important that you float shares on the local stock exchange to allow for local ownership,” Museveni was quoted as telling Shuter, according to a statement from his office on Thursday.</p>



<p>Museveni accused some unnamed telecoms companies of dodging taxes by under-declaring the volume of calls and that his government had bought machines that helped detect such activity.</p>



<p>Museveni also said telecommunication firms in Africa, which are often foreign owned, repatriate profits back home to the detriment of local economies.</p>



<p>“You should foresee these trade deficits. More locally owned companies should be allowed to earn money so that most of it remains here,” he said.</p>



<p>MTN Uganda did not immediately respond to an emailed request for comment.</p>



<p>The statement from the president’s office quoted Shuter as saying the firm was in negotiations with a Ugandan state-controlled National Social Security Fund (NSSF) for a possible sale of shares to the fund.</p>



<p>There was no confirmation from MTN.</p>



<p>MTN is in negotiations with Ugandan authorities for a ten-year extension of its operating license after it expired in October last year but there has been disagreements over the amount of licence fees to be paid.</p>



<p>Reporting by Elias Biryabarema; Editing by Omar Mohammed/Keith Weir </p>


Uganda’s Museveni wants MTN Uganda to sell shares on the local stock exchange, what you need to know…

#WEF19: Emerging Markets Outlook at Davos

#WEF19: A Conversation with Abiy Ahmed, Prime Minister of Ethiopia

#WEF19: South Africa’s Ramaphosa speaks at Davos

#WEF19: More than GDP

#WEF19: Achieving a Single Market in Africa


<p>Billionaire fortunes increased by 12
percent last year – or $2.5 billion a day &#8211; while the 3.8 billion people who
make up the poorest half of humanity saw their wealth&nbsp;<em>decline&nbsp;</em>by
11 percent, reveals&nbsp;a new
report from Oxfam today. The report is being launched as political and business
leaders gather for the World Economic Forum in Davos, Switzerland.</p>



<p>‘<em>Public Good or</em>&nbsp;<em>Private
Wealth’</em>&nbsp;shows the growing gap between rich and poor is undermining the
fight against poverty, damaging our economies and fuelling public anger across
the globe.&nbsp; It reveals how governments are exacerbating inequality by
underfunding public services, such as healthcare and education, on the one
hand, while&nbsp;under
taxing&nbsp;corporations and the wealthy, and failing to clamp down on tax
dodging, on the other.&nbsp;&nbsp;It
also finds that women and girls are hardest hit by rising economic inequality.</p>



<p>Winnie Byanyima, Executive Director of Oxfam
International, said:</p>



<p><em>“The size of your bank account should not dictate how
many years your children spend in school, or how long you live – yet this is
the reality in too many countries across the globe. While corporations and the
super-rich enjoy low tax bills, millions of girls are denied a decent education
and women are dying for lack of maternity care.”</em></p>



<p>The report reveals that the number of billionaires has
almost doubled since the financial crisis, with a new billionaire created every
two days between 2017 and 2018, yet wealthy individuals and corporations are
paying lower rates of tax than they have in decades.</p>



<p>·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Getting the richest one percent to pay just 0.5
percent extra tax on their wealth could raise more money than it would cost to
educate the 262 million children out of school and provide healthcare that
would save the lives of 3.3 million people.</p>



<p>·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Just four cents in every dollar of tax revenue
collected globally came from taxes on wealth such as inheritance or property in
2015. These types of tax have been reduced or eliminated in many rich countries
and are barely implemented in the developing world.</p>



<p><a>·</a>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tax rates for wealthy individuals and corporations
have also been cut dramatically. For example, the top rate of personal income
tax in rich countries fell from 62 percent in 1970 to just 38 percent in 2013.
The average rate in poor countries is just 28 percent.</p>



<p>·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In some countries, such as Brazil, the poorest 10
percent of society are now paying a higher proportion of their incomes in tax
than the richest 10 percent.</p>



<p>At the same time, public services are
suffering from chronic underfunding or being outsourced to private companies
that exclude the poorest people.&nbsp;&nbsp;In many countries a decent
education or quality healthcare has become a luxury only the rich can afford.
Every day 10,000 people die because they lack access to affordable healthcare.
In developing countries, a child from a poor family is twice as likely to die
before the age of five than a child from a rich family. In countries like Kenya
a child from a rich family will spend twice as long in education as one from a
poor family.</p>



<p>Cutting taxes on wealth predominantly benefits men who
own 50 percent more&nbsp;wealth than women globally, and control over 86
percent of corporations.&nbsp;&nbsp;</p>



<p>Conversely, when public services are neglected poor
women and girlssuffer most. Girls are pulled out of school first when the money
isn’t available to pay fees, and women clock up hours of unpaid work looking
after sick relatives when healthcare systems fail. Oxfam estimates that if all
the unpaid care work carried out by women across the globe was done by a single
company it would have an annual turnover of $10 trillion – 43 times that of
Apple, the world’s biggest company.</p>



<p><em>“People across the globe are angry and
frustrated.&nbsp; Governments must now deliver real change by ensuring
corporations and wealthy individuals pay their fair share of tax and investing
this money in free healthcare and education that meets the needs of everyone &#8211;
including women and girls whose needs are so often overlooked. Governments can
build a brighter future for everyone – not just a privileged few,”&nbsp;</em>added Byanyima.</p>


World Economic Forum

World Economic Forum: Elsie Kanza on why Africa’s integration is important for trade

Shaping inclusive growth and shared futures in 4IR: WEF Africa holds media briefing ahead of WEF 2019

Road to WEF Cape Town: What the Africa free trade agreement means for the continent

Road to WEF Cape Town: How West African economies can foster inclusive growth in the 4IR

Road to WEF Cape Town: Equipping Africa’s next generation for the Forth Industrial Revolution

WEF, SA to launch Africa’s first Fourth Industrial Revolution centre

Zimbabwean minister makes prestigious WEF Young Global Leaders 2019 list

World Economic Forum: Here are WEF’s Young Global Leaders pushing boundaries and changing the World in 2019

The impact of WEF’s Globalisation 4.0 on SA companies

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

Uganda’s Museveni wants MTN Uganda to sell shares on the local stock exchange, what you need to know…

#WEF19: Emerging Markets Outlook at Davos

#WEF19: A Conversation with Abiy Ahmed, Prime Minister of Ethiopia

#WEF19: South Africa’s Ramaphosa speaks at Davos

#WEF19: More than GDP

#WEF19: Achieving a Single Market in Africa

Oxfam report reveals billionaire fortunes grew by $2.5 billion a day last year while poorest saw their wealth fall, here’s why…

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Advertise With Us

World Economic Forum

World Economic Forum: Elsie Kanza on why Africa’s integration is important for trade

Shaping inclusive growth and shared futures in 4IR: WEF Africa holds media briefing ahead of WEF 2019

Road to WEF Cape Town: What the Africa free trade agreement means for the continent

Road to WEF Cape Town: How West African economies can foster inclusive growth in the 4IR

Road to WEF Cape Town: Equipping Africa’s next generation for the Forth Industrial Revolution

WEF, SA to launch Africa’s first Fourth Industrial Revolution centre

Zimbabwean minister makes prestigious WEF Young Global Leaders 2019 list

World Economic Forum: Here are WEF’s Young Global Leaders pushing boundaries and changing the World in 2019

The impact of WEF’s Globalisation 4.0 on SA companies

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

Uganda’s Museveni wants MTN Uganda to sell shares on the local stock exchange, what you need to know…

#WEF19: Emerging Markets Outlook at Davos

#WEF19: A Conversation with Abiy Ahmed, Prime Minister of Ethiopia

#WEF19: South Africa’s Ramaphosa speaks at Davos

#WEF19: More than GDP

#WEF19: Achieving a Single Market in Africa

Oxfam report reveals billionaire fortunes grew by $2.5 billion a day last year while poorest saw their wealth fall, here’s why…

News Tips

Advertise With Us

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