Sustained crisis’. I came across this terminology in a Harvard Business Review article recently, and it immediately struck a chord with my struggles running my company and also with what I see in the world around me.



The Covid-19 pandemic was a global crisis that came out of the blue, and we were all in it together. It did not matter which country we lived in or what our backgrounds were. It was a common fight.



But post-pandemic, we are dealing with a world that has become economically volatile for varying reasons, and it is becoming clearer that each country will first protect its own people and its own interests. Likewise, it has hit the interdependence of certain structures with a fragility like never before. And this has not abated since 2020.



For countries that are largely donor-dependent for their development needs and for humanitarian aid spending, vulnerabilities have increased. The aid narrative comes with its own politics and interests.



Several studies point to the fact that foreign aid is not as generous as it used to be.



In 2022, Ukraine accounted for a large chunk of foreign aid. And now many donor countries are facing pressures of their own from the post Covid-19 economic downturn to geopolitical vulnerabilities and political instabilities that have persisted over a long time.



Developing economies struggle with unsustainable debt burdens, rising food costs and liquidity crises. It is estimated by the World Bank that 7% of the world’s population will still be living in poverty by 2030.



For entrepreneurs in many countries, the ecosystem has changed significantly. Inflation persists and markets continue to shrink. Doing business has become costlier and more complex and negotiating the scale of challenges more difficult.



With increased advanced technological interface in business operations, the ecosystem demands a different resilience that government and business leaders must adopt and adapt to at a faster pace.



The common man is forced to navigate his needs confronted with higher prices, declining savings, more borrowing and employment loss. 



In Nepal, where I am, the middle- and lower-income demographic is struggling with job cuts, unpaid salaries, cutdown on consumer expenditure and access to loans. There is a relentless outflow of Nepali youth entering the international labor market. The country’s central bank macroeconomic report shows that in the first 10 months of the current fiscal year, the government has issued permits for over 660,000 Nepalis to work abroad. This number excludes Nepalis going to India for work and the migration of students. 



When young people see no future to build their lives in their country, it hurts the productivity and pride of the nation; but there is nothing to hold them back.



A crisis response is effective within a contained timeframe but when there is a prolonged state of crisis, the response needs to be inspired by a wider and more inclusive approach.



I ask what then is the lifeblood that will enable countries to navigate what is now a sustained crisis? Can countries do it alone?



Does this mark the departure of multilateralism? Why are the terms ‘deglobalization’ and ‘dedollarization’ increasingly making the rounds of panel discussions and economic reports?



The lifeblood perhaps lies in our ability to pause, reflect and continue. I believe that sustained crisis can only be overcome by sustained action. However, action must come from deeper values of integrity, innovation and compassion in the unfolding world order. It requires leaders – government and business – to be focused, flexible and decisive. Economic growth and social progress must be given equal emphasis. It requires citizens across the world to be more aware about their choices and actions. This is, perhaps, each one’s obligation and opportunity to create a meaningful world.



A writer-photographer from Nepal who keeps the values of freedom and compassion at the core of her work

View of the Swayambhunath stupa in the west of Kathmandu

Sustained Crisis Can Only Be Overcome By Sustained Action

Albert Einstein once said, “We cannot despair of humanity, since we ourselves are human beings.”



Einstein’s words deeply resonated with me as I pondered Africa’s human capacity.



The continent’s population, particularly its youth, are arguably a vital but often untapped resource in Africa’s story.



Africa’s population is growing at an astounding rate. The African Development Bank estimates that it has increased by 2.42% per year for the past 30 years. By 2050, it is projected to grow to 2.4 billion and is expected to expand to 4.2 billion in the next century. Currently, of the more than 1 billion people who live in Africa, half are under the age of 20. As the bank declared: “Human capital promises to be the key driver of African growth.”



Alongside this promise, there are expectations of access. Yet, a growing population presents its own risks. For example, access to healthcare, education, employment and sustainable development are fundamentally challenged. How do we begin to address these growing challenges? 



The African Union (AU) has outlined a human capacity development plan based on six key factors: transformative leadership, citizen empowerment, tapping into Africa’s potential, skills and resources, evidence-based knowledge and innovation, capacity developers and integrated planning.



Yet, a key question is how do we begin to implement this plan when the continent is demonstrably lagging behind in science, technology and innovation – prerequisites for global competitiveness? Our burgeoning youth population is not enough – we need to begin reframing our understanding of human capacity development to leverage it as a resource effectively. 



In recent months, I have argued that our adaptation to the fourth industrial revolution (4IR), which refers to rapid changes to technology, industries, societal patterns, and processes, needs to be accompanied by societal impact. In other words, as we embrace intelligent technologies, we must remain human-centric in our approach. This entails ensuring that this technology complements our human capacity.



It calls for the application of technology to ameliorate some of our most pressing humanistic challenges. Necessary in this process is an investment in education that equips the youth with the necessary skills, fostering ethical, technological development, promoting localized research and development, promoting human and intelligent technology collaboration, addressing disparities, and facilitating responsible technological adoption. This ensures that we tap into the potential of the 4IR while prioritizing the wellbeing and empowerment of humans.



As Africa continues to grapple with developmental challenges, merely embracing the 4IR is not enough. Policymakers and institutions must ensure that the shift is mindful of the knock-on effect on society. This calls for an ubuntu approach to leadership. In the African Journal of Social Work in 2020, Jacob Rugare Mugumbate and Admire Chereni defined ubuntu as: “A collection of values and practices that people of Africa or of African origin view as making people authentic human beings. While the nuances of these values and practices vary across different ethnic groups, they all point to one thing – an authentic individual human being is part of a larger and more significant relational, communal, societal, environmental and spiritual world.”



An ubuntu leadership style goes beyond the traditional hierarchical notions of leadership and focuses on building strong relationships, fostering social cohesion, creating purpose, and encouraging environments that promote collective well-being. Ubuntu offers an alternative approach to current leadership models in that it prioritizes interconnectedness and seeks to build bridges between different communities and groups. There is an argument to be made that this is the very lens we should be viewing the 4IR through. This is how we ensure that our approach emphasizes humanity and allows for a more just and equitable world to emerge. Critical in this process is seeing the continent’s growing youth population as a tool for 4IR with societal impact. Africa’s youth have the potential to become active participants and beneficiaries of technological advancements. We have to begin investing in our youth to realize this potential fully.



As the founder and chairman of the World Economic Forum, Klaus Schwab, phrased it: “The Fourth Industrial Revolution has the potential to empower individuals and communities, as it creates new opportunities for economic, social, and personal development. But it also could lead to the marginalization of some groups, exacerbate inequality, create new security risks, and undermine human relationships.” 



Ubuntu, and by implication, investment in human capacity, I would argue, emerges as the great divider between these realities.

Real estate agent on a meeting with customer at home – wearing face mask

Developing Human Capacity Should Prioritize The Continent’s Growing Youth Population

The June/July 2023 issue of FORBES AFRICA was my favorite reading for the month as it touched on a subject close to my heart – agriculture. In a conversation with Dr Akinwumi Adesina (President, African Development Bank) a few years ago, he talked about the importance of agriculture (one of his ‘High 5’ pillars is ‘Feed Africa’) and the need for the youth in Africa to engage in the sector. His famous words to me at the time were “we need to make agriculture sexy again so that the younger generation is motivated to enter this sector that can transform lives”. 



His words were inspired not only by the historic impor- tance but also by the opportunities being created by innovations in the sector. It was therefore hearten- ing to read stories of young ‘agripreneurs’ from all over Africa who are, through agritech, trying to bring innovation into the agricultural ecosystem and create more efficient supply chains from seed to soil to market.



Agriculture in Africa, as in a number of Asian economies, is the most important sector contributing an average of 20% to 24% of the total Gross Domestic Product of sub-Saharan Africa (SSA). In absolute terms, there are about 33 million smallholder farms of which an estimated 35,000 commercial farm units are in South Africa; 5,000 to 7,000 of these farms produce 80% of the agricultural output in South Africa.



Farmers living in these smallholder farms (who largely use their hands for cultivation) contribute 70% of the food supply on the continent. Corre- spondingly, 65%-70% of Africans rely on subsistence agriculture for their livelihood.



Considering that Africa has most (about 60%) of the world’s remaining uncultivated arable land, the continent imports between $35 billion to $45 billion of food/agricultural products each year, since only about 10% of the available land is being cultivated. This stems from poor infrastructure development and therefore limited access to a large part of the 700 million hectares to 800 million hectares that can be cultivated. Other than land, other areas that need machinery, technology, infrastructure development and distribu- tion. 



The most critical of all factors is easy access to low-cost finance and while financial institutions talk a good talk, very few provide reasonably-priced working capital to farmers. To make the continent self-suffi- cient, there is a need to invest almost $75 billion to $80 billion annually in the agricultural sector in Africa and there needs to be a concerted effort by policymaker to ensure that the banking sector comes to the party failing which, the continent, despite all its natural ad- vantages, will be unable to feed its growing population and alleviate poverty. 



An important factor today, not just in agriculture, but across all industries, is educa- tion and relevant literacy across all demographics.



A few years after the launch of CNBC Africa in 2007, I started a thought leadership discussion on the Future of Education in SSA. Over the years, we have identified areas including redefining the purpose of education to make it more relevant to today’s times. Each year, we have had some brilliant minds from around the world join the deliberations to bring forth different global perspectives. 



At the 2023 virtual sum- mit in July, we decided to unpack some of the current challenges, particularly relating to youth unemployment in Africa that has reached alarming levels. In many countries, more than 40% of fresh graduates do not find stable employment, even a year after finish- ing university. Part of the problem is the historic gap between the jobs being created and the number of students graduating from university. This problem, however, is being compounded by the transformation of existing jobs that require new skillsets, which ap- plicants do not have; nor can these be secured through unstructured staff development programs.



Owing to a very difficult history of colonization, the African education landscape is unique in its evolution reasonably-priced internet. SSA today has only 22% internet access compared to a global average of 63%. Furthermore, broadband access in Africa comes at a very high cost. In terms of afford- able pricing, India has the fifth lowest internet data rates in the world, with the cost of data at about 17 US cents per gigabyte. In comparison, South Africa at $2 per gigabyte is almost 12 times higher in price than India. The other important nuance is the low Gross Enrollment Ratio (GER) of 9.4% in Africa.



We live in a world today where artificial intel- ligence (AI) is responding to queries predicated on existing datasets. The debates are ongoing about the role of AI in all aspects of the future. No one can predict this accurately but it’s safe to say that if you can imagine something, coding, creativity and AI will find a solution. 



It sounds surreal, but it is the best time to be alive, as we have witnessed more possibili- ties in the last few years than we have seen in decades of analog. ChatGPT, the new kid on the block, has challenged the education arena with so many dimensions and has created a fear of redundancies and whether machines will take over most jobs. 



While these are genuine, short-term apprehensions, we do know that job displacements from what computers and machines can do are different from functions performed by human beings relating to creativ- ity, emotional intelligence, critical thinking, and problem-solving. As some jobs are being taken over by automation, more are being created that will continue to replace the older ones in the form of supervision of automated systems, programming, and maintenance. 



As an exam- ple, during the internet era, new jobs relating to web design and development, digital marketing and cyber security, to name a few, were created. Now, with blockchain, AI and virtual reality, the world is opening up to workplace transformation, where coding, computer sciences and creativity will play an important role in creating job replacements in areas that we are yet to discover.



Another important dimension that was discussed during the Future of Education Summit was the impor- tant and underlying role of the economics of transfor- mation. Conservatively, unemployment costs for coun- tries run into billions of dollars of wasted resources each year. Global GDP could go up by trillions of dollars if unemployment is curtailed. On the other hand, the cost of reskilling is estimated to be between $10,000-$20,000 per new graduate joining a company, which is cumu- latively running into billions of dollars for employers. What this points to is that these costs to business can be optimized if there is closer collaboration and conversations between governments, academic institu- tions, and the corporate world.



In practical terms, the most transformative out- comes are going to come from industry where large employers will define their needs to educational in- stitutions. Colleges and universities need to adapt to these requirements by designing bespoke curriculum that will increasingly become industry-certified. The day is not far when human resources (HR) departments in organizations will be driven by professors who will articulate the needs of the establishment and act as an interface with academia.



The role of humanities will continue to increase critical thinking and creativity into sciences making up for the inherent deficiencies in machines. This blend of the two worlds of Arts and Sciences, which have always been historically segmented into silos, will provide the solutions in the future world of AI. In this context, one of the most interesting discussions was on the concept of “a factory within a university” or “a university within a factory”. 



The possibilities are endless, and the deliberations were animated and intense, but the trend line was clear that for a progressive continent, investment in capacity building is in education so that the future generations of youth have equal opportunities as their peers in other parts of the world.



An important event for us at the ABN Group is the annual All Africa Business Lead- ers Awards (AABLA) ceremony that recognizes business leadership on the continent in vari- ous categories. Being an entrepreneur, I know from three decades of experience that building a business at the best of times is a challenge.



However, when you establish businesses in emerging markets like SSA, where you cannot take anything for granted, the skills, adaptability, perseverance and commitment needed requires leadership to be a lot more versatile and humane. To recognize these heroes from amongst us, we hosted the event for the sec- ond time at the Convention Centre in Sun City, South Africa, before a gathering of 450 business leaders from across Africa.



The event this year was attended by a large contingent of international business leaders from Nigeria, Kenya, Botswana, Namibia, Rwanda, the US and the UAE. We were also privileged to have in our midst, and perform- ing for our guests, two-time Grammy award- winner, Wouter Kellerman. An issue that limits greater participation is the restriction on business visas by South Africa. 



Many guests from Nigeria and Rwanda were unable to trav- el for the AABLA. As we talk about increasing strategic relationships, inter-Africa trade and other collaborations, we are still unable to develop a basic agreement on cross-border travel for Africans. These barriers need to be lifted at the earliest to have meaningful people-to-people engagements for better understanding and social engagements that are essential for building a strong foundation for collaborations.

Rakesh Wahi

The Important Conversations Around Agriculture And Education In Africa

The unfortunate developments relating to the Black Sea grain shipments are not good news for India and the African continent. Food prices and security are threatened and big power rivalry is ensnaring us developing countries once again.



India believes the G20 agenda should be protected from this rivalry and it has done its best, during its presidency this year, to keep the development agenda and the Sustainable Development Goals (SDGs) in focus.



The country has also challenged the G20 membership to accept the African Union (AU) as a peer. Given the Indian emphasis on heralding the voice of the Global South during the presidency, it is befitting that the largest regional organization of the Global South, the AU, should be a G20 member rather than an invitee.



This initiative is unprecedented. Since the G20 was formed, no new members have been admitted.



In January 2023, India sought a collective articulation of the Voice of Global South (VoGS) through a virtual summit.



Having Africa speak for itself is important. The continent suffered deeply from the impact of Covid-19 and the Ukraine crisis.



African countries enthusiastically participated in the VoGS summit manifesting their expectations and priorities.



President Macky Sall of Senegal, the AU chair in 2022, formally sought AU inclusion into the G20 and several AU partners like the United States (US), European Union (EU) and China enunciated support.



While it remains uncertain if Africa’s partners intend to use this as a step to include other candidates by opening the membership issue, for India, it is a leap of faith to champion the AU alone and not be held back by claims of ASEAN, Latin American institutions, and permanent invitees like Spain.



Prime Minister Narendra Modi wrote to all G20 members seeking the inclusion of the AU as a member of the G20 and would like this announced at the G20 Summit in New Delhi in September 2023. Through this direct approach, India placed the proposal on the agenda of the G20. Each G20 member now must state a clear response to this.



Some who vocally articulated support for the AU bilaterally have to abide by their commitment. Others who were quiet would need to break their silence. It’s also worth noting that this issue was also discussed in the Modi-Biden summit, and Modi included it in his address to the US Congress in June.



This is a significant recognition of Africa, by one of its oldest and steadfast partners, India, which has shown its commitment to ensure that African voices are audible in all international fora. Clear examples include the Bandung Conference in 1955 and NAM from 1961 which were Indian-supported efforts for Africa to be heard after decolonization. The ‘AU-in-G20’ initiative is a 21st century ‘Bandung moment’ for resurgent Africa.



Added to the fact that Africa and India lack a permanent presence in the United Nations (UN) Security Council and that the UN reform process is crawling slowly, stymied by China, among others, India has decisively grasped the opportunity afforded by its presidency of the G20 to enable Africa its largest opportunity for representation at an intergovernmental forum on a permanent basis.



The AU <a href="https://au.int/sites/default/files/decisions/42725-Assembly_AU_Dec_839_-_865_XXXVI_E.pdf">adopted a decision at its summit in February</a> 2023 to obtain its place at the G20. Presently, the African Union Commission and the African Union New Partnership for Africa’s Development (AU-NEPAD) are invitees and South Africa is the only African member. The AU-NEPAD invitation was specially created when NEPAD was a separate entity.



One thing is certain, since 2008 when the G20 transitioned to a summit, Africa has changed remarkably and it needs the platform to be able to speak for itself.



– The writer is a former Ambassador of India to Germany, Indonesia, Ethiopia, ASEAN and the African Union

Redeveloped And Illuminated ITPO complex

‘African Union Must Be In The G20′

If the thought of being told to fly something up the flagpole, put on a record to see who dances or stir-fry things in the ideas wok makes you want to lose your lunch, you are not alone.



Jargon monoxide – a dangerous concoction of distasteful, pungent and sometimes colorful language – is seeping into workplaces to create nauseating conditions for those forced to inhale the noxious fumes.



Every workplace has its fair share of jargon, buzzwords, bizspeak and abbreviations.



Sometimes the language serves a useful purpose like condensing a complicated process into a single word or phrase to save time.



But when it slips out of the boss’ mouth once too often it is usually for the wrong reasons, which is when jargon monoxide poisoning takes place.



More and more workers have been “circling back” only to discover their boss’ misused business babble has created unnecessary “pain points”.&nbsp;



This has arisen from those in charge either failing to “bring to the table” some “fully baked”, “out-of-the-box thinking”, “putting lipstick on a pig” to camouflage the truth or disguising the fact they are simply not capable of doing the “heavy lifting”. &nbsp;



In other words, workers are being contaminated by jargon-mongering bosses who seem intent on using the latest cringeworthy cliches to hide the truth, cover up stuff-ups or obscure the fact they lack what it takes to get the job done.



It is necessary to “drill down”, “unpack” or “open the kimono” to get a “high-altitude view” on how workers are exposed to jargon monoxide on a daily basis.



The truth is many bosses allow gobbledygook to seep from their mouths and into the workplace to conceal the fact they are not “best of breed”: in other words, to obscure their ineptness.



So when “parking a project” rolls of your boss’ tongue, it probably means an initiative was an unmitigated disaster under their direction.



If the same boss suggests there has been a “wrong-siding of the demographic”, it is safe to assume their poor public relations caused customers to become extremely disgruntled.



Other bosses restrict their polluting ways to using buzzwords to disguise negative messages and, in doing so, compromise transparency.



Some bosses substitute the term “redundancy” with the likes of “trimming the fat”, “cutting capacity”, “delayering”, “downsizing”, “right-sizing”, “right-shoring” and “moving to an outsourced model” – all jargon used to make sacking staff sound more palatable than it actually is.&nbsp;



And you might have noticed how many bosses resort to “going forward” (or its close relation “moving forward”) when they have no clue about what they ought to do in the aftermath of a challenging situation like a pandemic, public relations nightmare or financial crisis but still need to say something.



“Going forward” conveys that an embattled boss is leading their people on a purposeful path to a brighter future.&nbsp;



Yet the overused phrase is ambiguous in relation to specific actions, timelines and accountability and could easily be substituted with “I don’t have a clue what to do next”.



Perhaps of more concern is the fact that at the very time we are trying to reduce spiralling levels of antagonistic behavior, bullying and harassment in our workplaces, some bosses poison their workplaces with newfangled aggressive office speak just to appear as part of the “in-crowd”.



Common phrases of aggression including “you smashed it”, “you are killing it” and “you crushed it” – somewhat ironically – are all buzzwords used to denote progress rather than destruction.



Think, too, about the impact on others of hearing the boss say “there is only one throat to choke”, the team is a “dysfunctional circular firing squad” or that you are a “decision sniper”.



Climbing the corporate ladder is often synonymous with losing the ability to speak or write clearly. The higher the climb, the greater the use of overblown language.



It should not be that way.



It might be time for all good bosses to “give 110 per cent”, “lean in” and take a closer “look under the bonnet” to get better “optics” on the impact of their poisonous prattle on those around them.



“At the end of the day” it is perhaps best to keep in mind that jargon monoxide is a language which can pollute and poison an otherwise healthy workplace.



For those in charge, do not let it loose. And for those lower down the “food chain” and at high risk of contamination, avoid breathing it in.



The writer and professor is CEO with the Australian Institute of Management Western Australia and a workplace and social affairs expert.

Co-workers having meeting with laptop in conference room

Time To Move The Needle On ‘Jargon Monoxide’ In Our Workplaces

We all live and we all die, what makes us different are the things we do and the impact of our actions on the world. When it comes to the human mindset, we only think in terms of human-dominated ecosystems. However, with the climate crisis now upon us, the environment is everybody’s business, especially for those in business.



For entrepreneurs and industrialists, the time has come to not just reflect but to put into meaningful action the values that drive work. It is time to think about impact not just on our species but the world in its entirety, to create entrepreneurship beyond the terminology of just buying and selling, and to truly understand that profit is an output, not a purpose.



Research suggests that companies that struggle to answer the purpose question, or that answer it only in terms of the hard metrics of profit, market share and shareholder returns are most likely to encounter lower employee engagement, higher turnover, an uninspiring work culture, and lack of respect for the environment and communities they operate in. This is irrespective of whether the company has prestige, market dominance or great potential for growth.



As per the Climate Risk Country Profiles developed by the World Bank Group, Nepal, where I live, and South Africa, both share climate vulnerabilities.



Nepal is experiencing changes in temperature and precipitation at a faster rate than the global average. From the loss of lives to the loss of livelihoods, natural hazards in different parts of the country put people and ecosystems in distress year after year.



What does climate risk really mean and how does it affect us? Climate risk is commonly defined as extreme changes in weather, floods, disasters, rising sea levels, erosion, biodiversity loss etc. Why does it matter is simple–because people suffer due to these risks, it changes how we live, it changes our health, our livelihoods, our environment.



And where do businesses factor in? The opening statement of a PricewaterhouseCoopers article reads: “The race for net zero has captured the imagination of countries and companies alike. And not a moment too soon: the latest report from the United Nation’s Intergovernmental Panel on Climate Change finds that greenhouse gas emissions (GHGs) must peak no later than 2025 to avoid the most dangerous and irreversible effects of climate change.”



It goes on to state that companies are not paying enough attention to their decarbonization commitments. Citing what businesses can lose, the report gives the example of how extreme weather events can cost a business conglomerate several hundred million dollars as soon as 2030 due to supply chain disruption. The examples are many and eye-opening. Businesses are forced to give due consideration to reports and articles such as these not just for the financial implications on their operations but also because governments around the world are aligned to the Net Zero Commitment including the top polluters– the US, China, EU and India.



The private sector does have a crucial role in fighting climate change. From reducing the carbon footprint of their product to cultivating climateconscious practices at work, businesses need to tackle their climate and social impact.



Consumers must commit to eating, traveling, living and shopping more mindfully. 



Governments must pledge to tangible actions that go beyond policy discourse and debates. Even as the world feels increasingly complex and unpredictable, meaningful action is needed to maintain a natural balance in how we use our resources and treat the world we inhabit. 



Climate change then is not just an ecological, environmental, social or economic issue, it is really about our personal ethics and the choices we make from moment to moment.



We do not have another planet to move to, what then do we choose for our children and the generations to come?



The writer-photographer from Nepal who keeps the values of freedom and compassion at the core of her work

Businesswoman giving presentation in board room

‘The Environment Is Everybody’s Business, Especially For Those In Business’

How did you go bankrupt?” Bill asked.



“Two ways,” Mike said. “Gradually and then suddenly.”



This passage from American writer Ernest Hemingway’s The Sun Also Rises perfectly summarizes the process almost every organization eventually faces. 



Or at least it did up until Tuesday, May 2. Because that was the day when ChatGPT claimed its first victim, the online education platform Chegg.



It seems gone are the days when companies could expect a death spiral of years and years before the CEOs called it a day. 



Blockbusters and Blackberry are two examples that spring to mind. But Chegg’s stock plummeted by more than 50% in just a few hours, and at the time of writing this piece, it was worth just a third of what it was prior to the launch of ChatGPT.



The reason of course, why every business ultimately fails is because the market shifts.



In Blackberry’s case, they lost out as consumers decided they didn’t want keyboards.



For Blockbusters, their customers decided to stay at home and stream.



And for Chegg, Wall Street is predicting that they will lose their students to generative AI.



What’s fascinating and scary though, is we have just entered a phase of business disruption that is exponential in nature. AI, Cloud, 5G, IoT and a host of other technologies are working perfectly in concert to allow anyone in the world to develop new products and services at a fraction of historical costs in record time.



ChatGPT is a case in point. 



On release, it registered 1 million users in one week and hit the 100 million mark within two months. That’s 5x faster than TikTok managed; 30x faster than Facebook. So with barriers falling left right and center because of technological advancements, what must boards do to improve their company’s survival chances?



If you guessed innovate, you are partially right. Boards absolutely need to impress on their executive teams the importance of doubling down on their innovation strategies.



But this will only work if boards think laterally about deliberate actions they can take to encourage their executive teams to become less hubristic.



Because leadership hubris is the catalyst of inertia, not innovation, and inertia is what ultimately kills most organizations. To be fair to executives, they operate in environments that encourage overconfidence.



When you are running a successful multi-billion dollar business, it’s not easy to consider the possibility that it could be fallible, or worse, that it might fail on your watch. I for one don’t know many CEOs who’ll admit they are fearful of being disrupted. And those that do typically fail to place the necessary disruptive business bets.



How can companies remove hubris from their executive teams? 



I humbly suggest by setting up environments that culture a certain amount of fear and a huge amount of curiosity. One of the best examples of a leadership team that encourages this is Amazon. Jeff Bezos is well-known for emphasizing the importance of staying paranoid and maintaining a sense of urgency.



In his 2017 shareholder letter he wrote: “Day 2 business is stasis. Followed by irrelevance. Followed by excruciating, painful decline Followed by death. And that is why it is always Day 1.” 



The goal?



To encourage his team to continually think like a startup, not a multi-billion dollar listed entity. And this idea then gets consistently reinforced in a multitude of ways, ranging from their choice of building names



(Amazon’s head office is named Day 1) to how they encourage executives to make decisions carefully when the outcomes are irreversible, but quickly in all other instances (the two-door/ one-door model).



These systems and frameworks were deliberately introduced to encourage healthy levels of paranoia that in turn, helped motivate a culture of curiosity.



It should not be surprising when successful innovators state that “curiosity” is mission-critical. What is surprising is how knowing this, so few boards demand their leadership teams implement systems to agitate and encourage curiosity.



Perhaps this was acceptable when we lived in a world where change was glacial. But in a world where bankruptcy may skip the slowly part and just come suddenly, boards need to stop worrying about the risks of doing business and start cultivating leaders who understand the need to adapt or die and have the curiosity and courage to attempt to do just that. 



– The writer curates thought leadership events that help executive teams transform their organizations; visit coliniles.com.

Adapt Or Die: What Must Boards Do To Improve Their Company’s Survival Chances?

ChatGPT, a cutting-edge language model developed by OpenAI, has revolutionized how we interact with technology and access information through artificial intelligence (AI). As an AI-driven conversation agent, ChatGPT has the potential to significantly impact various sectors in Africa, offering opportunities for growth and development. However, ChatGPT also presents unique challenges that we must address to harness its benefits fully. 



This article explores the implications of ChatGPT for Africa, focusing on its potential applications in education, healthcare, agriculture, and language preservation, as well as the challenges associated with its adoption.



Before discussing the applications of ChatGPT in Africa, it is crucial first to discuss what ChatGPT can and cannot do. Firstly, ChatGPT, like many AI technologies, depends on existing data. Therefore, it cannot incorporate what does not already exist. For example, it will not recommend medications not yet discovered. Consequently, it would not have invented Einstein&#8217;s theory of relativity. However, it can gather and summarize existing information, which may help find new medicines. Despite these,



ChatGPT can be a valuable tool for enhancing education in Africa by providing personalized learning experiences, facilitating access to knowledge, and supporting educators. By offering tailored content based on individual learning needs, ChatGPT can help bridge the gap in educational resources and improve overall learning outcomes. Additionally, it can assist teachers by providing instant feedback on student performance, identifying areas for improvement, and suggesting targeted interventions.



ChatGPT can be crucial in providing medical information and support in Africa, where access to healthcare professionals is often limited. It can serve as a health assistant, offering advice on common health issues, symptom analysis, and self-care tips. This could help reduce the burden on healthcare systems and facilitate timely intervention, particularly in remote or underserved areas. For this to happen, we need to retrain existing and new medical professionals to develop competency in the seamless use of technology in medical care. This, therefore, calls for revising the medical curriculum to incorporate more technology.



Another application of ChatGPT is in the area of agriculture. ChatGPT can contribute to developing sustainable agriculture in Africa by providing farmers real-time information on weather patterns, pest control, and crop management. This could help farmers optimize their operations, improve yields, and enhance food security for the continent. This requires farmers to form learning communes where issues of agricultural performance are discussed together to augment existing recommendations of ChatGPT, which is based on existing information.



ChatGPT can be used for language preservation. Africa is home to a rich linguistic diversity, with over 2,000 languages spoken across the continent. ChatGPT can be trained to understand and interact in various African languages, promoting language preservation and cultural heritage. By making technology more accessible and inclusive, ChatGPT can help bridge the digital divide and empower local communities. However, for this to happen, we need to infuse the ethos of AI transfer learning methodology to ensure that all languages are included, irrespective of size.



One of the primary challenges for ChatGPT adoption in Africa is the lack of robust digital infrastructure. Limited access to the internet, unreliable connectivity, and high data costs can hinder the widespread use of ChatGPT and its associated benefits. To fully harness the potential of ChatGPT, investments in digital infrastructure and affordable internet access are essential. However, for this to happen, we need to bridge the digital divide and ensure that telecommunications data and affordable devices are accessible.



The adoption of ChatGPT in Africa also depends on the population&#8217;s digital literacy level. Therefore, promoting digital literacy through education and training programs is crucial to ensure people can effectively utilize ChatGPT and other digital technologies.



As with any AI technology, ChatGPT raises concerns about data privacy and security. Therefore, ensuring that ChatGPT complies with data protection regulations and safeguards user privacy is essential to build trust and encourage widespread adoption.



AI models, including ChatGPT, can inadvertently perpetuate biases and stereotypes in the data they are trained on. Addressing these biases and ensuring that ChatGPT&#8217;s interactions are culturally sensitive and contextually appropriate is crucial for its successful implementation in Africa.



ChatGPT has the potential to significantly impact various sectors in Africa, offering opportunities for growth and development. By harnessing its potential in education, healthcare, agriculture, and language preservation, Africa can benefit from the advancements in AI technology. However, addressing challenges related to digital infrastructure, digital literacy, data privacy, and ethical considerations is crucial for successfully adopting ChatGPT on the continent through collaborative efforts from governments, the private sector, and African civil society.



– The writer is a Rector of the United Nations University (UNU) Rector based in Tokyo, Japan. UNU has campuses in Ghana, Japan, China, Malaysia, Finland, Germany, Holland, Portugal, Belgium, Venezuela, Canada and the US.

In this photo illustration, the ChatGPT (OpenAI) logo is

ChatGPT In Africa: Opportunities And Challenges

Africa is simultaneously contending with three realities: the continent has the youngest growing population; the Covid-19 pandemic has spurred substantial development and growth setbacks; and employment opportunities are flailing. This is seemingly a direct antithesis of the Africa rise narrative that dominated just a few years ago. If we consider this post-pandemic era as an opportunity for growth, this is a crisis we must address. 



Africa has a population that is under 25 in excess of 60%. Young Africans are anticipated to make up 42% of the world’s youth by 2030. Yet, we are demonstrably not tapping into this potential.



As Audrey Donkor wrote for Foreign Policy in 2021: “Such a large youthful population might ordinarily symbolize an ample and energetic workforce, a boon for the development prospects of any region. But the dire employment situation for young people across Africa continues to snuff out their potential.”



The African Development Bank (AfDB) asserts that only one in six young people aged 15 to 35 are employed for pay, another third are vulnerable workers, and a third are unemployed and discouraged.



Intriguingly, in sub-Saharan Africa, unemployment rates overall are relatively low. However, if one were to delve into the statistics, these figures do not consider the quality of employment.



Much of this work is informal, wages are low, and little to no social safety nets exist. It is thus difficult to make any comparisons to more advanced economies. The trend demonstrates that many engage in insecure jobs for income.



Research suggests that youth unemployment leads to increased poverty levels, migration, social exclusion, social instability, welfare increases, human capital erosion, and even conflict. Moreover, high levels of unemployment stunt a nation’smdevelopment. Evidence suggests that if most of the youth are economically active, there are distinct opportunities for poverty and inequality reduction and greater economic growth as dependency ratios are lowered. This phenomenon comprises part of the democratic dividend, which speaks to the growth associated with the age structure of a region.



As Julius Maina, regional editor of The Conversation, aptly argued: “The media frequently portray young people excluded from wage work as inactive, aimless and alienated from mainstream society. This image feeds into fears of crime, violence, and social unrest in which jobless people are cast as a ‘ticking time bomb’ that threatens a country’s stability. But this is a very misleading characterization. Most analyses of unemployed youth fail to grapple with the reality that unemployment in the sense of ‘doing nothing’ is not a feasible option for most young people.



&#8220;In South Africa, of course, unemployment presents itself starkly; 3.4% of those in the 15-34 age range are unemployed.



Against this context, there is a clear intersection between unemployment, economic growth and social security. Social security broadly refers to public measures provided by society against economic and social distress. In Africa, there is a distinct gap between the first economy, which is competitive and globally integrated, and the second economy, primarily comprised of the unemployed and characterized by underdevelopment.



The question is, how do we bridge these two worlds? Much of Africa lacks comprehensive social security systems, leaving the population, particularly the youth, vulnerable to economic shocks and social instability. These programs often face significant challenges in implementation, including limited funding and inadequate infrastructure. 



The introduction of strategic social security programs could provide support for youth seeking employment. Implementing social security measures in Africa while also ensuring empowerment, job creation, and economic growth requires a comprehensive and holistic approach that addresses the region’s underlying causes of poverty and joblessness. 



One strategy is job training programs and youth entrepreneurship programs. This emphasizes both skills-building and the creation of safety mechanisms.



Partnerships with universities and vocational training institutions as well as initiatives that support innovation and entrepreneurship can help achieve this. The University of Johannesburg, for instance, has partnered with the Youth Employment Service (YES) to provide students with internship opportunities.



Another strategy is to invest in infrastructure, including transportation, telecommunications, and energy systems. In particular, investments in renewable energy technologies can create new industries and job opportunities while contributing to sustainable development. To address unemployment and create growth, these social security systems need to be strengthened to ensure access and provide a safety net.



A comprehensive social security system could well be the remedy.

Youth Day Is Celebrated in South Africa

Why Africa Must Strengthen Social Security Systems To Address Youth Unemployment Meaningfully

The most welcome news on May 8 was the announcement by the World Health Organization (WHO) that Covid-19 is no longer a global emergency. While the stand-down siren has been sounded, we must remain vigilant and take precautions as there are still thousands of people around the world contracting milder forms of the virus; in some cases still resulting in serious issues for people who have underlying health conditions. Some facts from the WHO website suggest that (as of early May 2023), over the last three years, approximately 756 million Covid cases were recorded with approximately 7 million people who lost their lives. 



Assuming the global population at about 8 billion, this translates to almost 9.5% of the population being infected and approximately 0.09% of the population having died. Comparing this with the Spanish Flu that started in February 1918 and lasted approximately two years, 500 million people or a third of the then global population were infected and about 50 million people died (3.3% of the global population). Though spread a century apart, these are events, particularly Covid-19, that have prepared us to deal with and overcome adversity together as a global community.



There were many lessons from this dark period in human history, the most significant of which was the importance of leadership at all levels. Some countries, with comparable economic, demographic, social and developmental status, managed better than their peers. A trait that was consistent with good leaders was effective, clear and periodic communications. There is no greater leadership failure in a crisis than delayed, ineffective and inconsistent communications. People understand problems as it’s a sad reality of the majority of human existence. Reinforcing problems and assigning blame only spreads uncertainty and creates panic which is synonymous with most politicians; what people want to know is that they are secure and that appropriate, quantifiable and urgent action is being taken to protect them.



What the last three years have further reinforced is that the world is not and will never be an equal place; the disparity between the developed and developing world will continue to grow, particularly if third world countries do not break the shackles of infinite bondage and over-reliance on the first world countries. No one has any interest in seeing Africa become self-sustainable except the people of Africa and the focus now should be on building sustainable ecosystems within geographic proximity. Never has the need for localization been more critical than now. 



Never has there been a need for more African unity ever before, than now. Guided by a polarized world, African nations cannot get submerged in futile politics and the self-serving defence and economic policies of Western countries. Even if they plunder their combined resources through a false sense of ego and self-righteousness, the developed world will continue to have sustainable reserves for several generations. The African agenda needs to be focused on consolidating its position by rapidly strengthening and transforming intra-African relationships.



As the threat to life from the pandemic has reduced, people in general have begun to get back to a near normal way of life. Travel and tourism have bounced back with a vengeance and despite high costs, people are making up for the time lost from 2020-22. The war in Ukraine has continued with no immediate solution that has compelled a change in geopolitical alignments. 



This event, in my opinion, is going to impact the future much more than even the pandemic or any other historic economic crisis. The trust deficit that exists between the permanent members of the United Nations Security Council (UNSC) is at its highest. With a deep divide in the UN, no decision or change can ever be made if there is a conflict with any of the permanent members of the UNSC. Changes to the structure of the UN are being demanded by member nations but even as membership is being expanded in key functions of the UN, the final authority and ‘veto’ still rests with the five countries that not only have contradictory interest but also have a deep fissure in ideologies between the United States, the United Kingdom and France on one side and China and Russia on the other.  



Sadly, this very aggressive demeanor resulting from the Ukraine conflict has witnessed the dramatic and wasteful increase in defence budgets of all countries around the world. Rather than spending money on green energy, ESG, housing, healthcare, education, and alleviating poverty, resources are senselessly being allocated to defence systems and extremely destructive munitions that will lead to the doom of our future. Paradoxically, the price of this perceived and notional security will be the very reason that people will continue to live in bondage and poverty. 



The beneficiaries are just a few countries that are the usual suspects in much that is going wrong with the world. My question therefore remains–‘where does accountability lie in the free world’ where, shrouded in extreme conflicts of interest, the ‘judge, jury and the executioner’ are the same? The smallest issues in governance in the developing world are highlighted and severely dealt with through harsh measures but there seems to be no apprehension about the larger issues that are crippling the world.



These inconsistencies have alarmed and prompted reactions from the oil-rich Arab world. The unilateral imposition of sanctions and freezing the assets of nations by Western countries is creating an insecurity for the future. For perhaps the first time and a marked change from historic conformity, there is an apparent move by Saudi Arabia to sidestep Western-imposed sanctions and build harmony within the Middle East. Syria has been invited back into the Arab League after 12 years and Saudi Arabia has also started playing a pivotal role in settling the various conflicts between Syria, Iran and Yemen. It would appear that with the start of consular services between the Arab world and Iran, and with Iraq largely neutralized, things could gradually return to normal within the Persian Gulf. These developments are happening as China and Russia get closer in a strategic collaboration and China, with its large balance sheet, is starting to play a more active role in the Middle East. These realignments are expected to provide more security, both financial and strategic, to nations in Asia.



European countries have supported various countries in Africa through aid packages for various reasons including a sense of responsibility for historic injustices like colonization and slavery. The source of the aid, by country, can be traced according to the language spoken by the European countries i.e. English, German, Dutch, French or Portuguese. This aid has come at a high cost as a lot of tangible benefits for donors were traded in lieu of the aid. A lot of exploitation has taken place in extractive industries to include oil, gold, diamonds, precious stones, minerals etc. and agricultural products. 



Very little value addition has happened on the continent and no effort has been made to create an enabling environment. Interestingly, the United States has so far had an erratic and inconsistent policy on Africa that has given the Chinese a headstart on establishing a strong foothold in Africa including but not limited to two permanent military bases that have been established in East Africa and West Africa. These developments, along with Russian and European interests, will polarize the countries in Africa and developing independent bilateral and multilateral intra-Africa partnerships may get adversely influenced. Remaining neutral and non-aligned is a key ingredient to self-determination, self-reliance and enhanced sovereignty; very few African countries have managed to keep this neutrality.



A factor that has remained congruous for financial security is the dominance of the US Dollar (USD) as a reserve currency. A lot of currencies have remained pegged to the USD. However, with the growing mistrust with US policies, the rise of the Chinese Yuan and a distinct move to create mechanisms for the bilateral settlement of payments between countries, it is likely that over the medium term the USD will lose its place as a reserve currency. The Afreximbank’s brainchild, the Pan-African Payment and Settlement System (PAPSS) to facilitate inter-convertibility amongst African currencies has yet to be finalized as it still faces several structural impediments although the Afreximbank is providing a $3 billion settlement cover as an overdraft facility. The greatest saving for Africans will be the $5 billion paid in transfer fees to international banks.



Less reliance on the USD will give rise to alternative means of storing wealth. While gold is the most likely reserve medium in the short-term, crypto and digital assets will most likely dominate the future of convertibility, transferability and storage in a decentralized and secure manner. While cryptocurrencies are a relatively new area, their mass adaptation will be the most transformative milestone in the history of financial services. Although there is growing adaptation in Nigeria (eNaira), Kenya, South Africa and Zimbabwe, African countries are trailing in the crypto journey. Education and regulations along with cultural changes and building basic trust in this digital asset will play an indispensable role in the adaptation of this far-reaching and revolutionary change.



Despite the general negativity in current affairs and the economic volatility and correction caused by the failure of the Silicon Valley Bank and Signature Bank, the general market trends have remained positive. Most countries in Europe and Asia have seen a turnaround post-pandemic. In some countries like the United Arab Emirates (UAE), in particular the emirate of Dubai, the first quarter reports, across all sectors, have been exemplary. 



The first indication was on the travel and tourism industry where things are getting back to 2019 levels. Despite the high costs of flights and hotels, the tourism sector has been thumping since October 2022. The property market is once again buoyant with prices having shot up and the construction frenzy is back to normal with developers working hard to keep up with demand. Coming from all over the world, enticed by excellent policies, safety, stability and long term visas, there is an exponential increase in the numbers of people making the UAE their residence.



African countries have started making their own recovery post the pandemic. Traveling through some of the countries, one gets the distinct feeling that governments are working to bring about the necessary change. The change in Kenya away from dynasty politics will be a great pilot to see whether the country thrives under a new leadership or will get sucked back into the maladies of power and abuse. There are smaller yet shining stars like Rwanda that continue to give hope and the smaller economies like Botswana that are showing tremendous promise. 



We have an arduous journey ahead but we must plod along irrespective of the odds and remember the closing stanza of Robert Frost’s famous poem: “The woods are lovely, dark and deep. But I have promises to keep. And miles to go before I sleep. And miles to go before I sleep.”

Lessons From A Dark Period And The Way Forward

March 1 marked the beginning of my term as Rector of the United Nations University (UNU). Along with my initial excitement and ambition is the recognition that I am starting my Rectorship in an era defined by our shared efforts to address immense challenges — climate change, lasting peace, and sustainable development for all. 



It is also an era where technology will play a pivotal role in our success, challenge our ethics, and reshape our values. UNU’s contributions and expertise are more vital than ever as we approach the 2030 Sustainable Development Goals’ (SDGs) deadline and overcome the very real SDG setbacks caused by the Covid-19 pandemic and our structural inequalities. 



Access, distribution and capacity are demonstrably skewed, and our divisions have grown. As a 2021 UN report on the SDGs found, the SDGs have long been off track. If we hope to reverse this trend, we will all have to work hard to achieve them. The work of UNU and our partners must be grounded in justice that transcends our physical, mental, and digital capacities.



In Africa, the challenges of achieving the SDGs are compounded. This is because development seems to have stalled. A 2022 Organisation for Economic Co-operation and Development (OECD) publication demonstrated that Africa’s growth rates in the aftermath of the Covid-19 pandemic hindered its convergence with other global economies. This lag in growth is, in turn, stunting the continent’s development and has pushed more than 29 million people into extreme poverty.



The research and application thereof that emerges from the UNU present a unique opportunity to emerge from this malaise while addressing broader global challenges. Hassatou Diop N’Sele of the African Development Bank (AfDB) stated in an October 2022 report: “The economic and security shocks experienced by Africa over the last few years have been devastating, both in their reach and their repercussions. If there was ever a time to reaffirm the relevance and critical role of security and its interrelation with development, that time is now.”



To help meet these challenges, three principal actions need to be implemented by UNU. First, we should raise the University’s global profile. Second, we should expand the activities of UNU, especially in the Global South. And third, we should increase UNU’s capacity in teaching, learning, research, and policy-work in partnership with universities and other key stakeholders worldwide.



We need to mobilize financial, political, human and intellectual resources in both the Global South and Global North to achieve these goals. UNU should continue to create partnerships that provide sustainable support for our work in new regions and communities. We should use digital platforms to expand the teaching, learning, research, and policy offerings of UNU. 



We should produce and spread digital programs primarily targeting a just transition to the fourth industrial revolution. We should prioritize using artificial intelligence and other technologies for responsible, peaceful, and sustainable policies and applications. We need to further UNU’s role as a critical player in tackling contemporary global challenges and position UNU as an essential intellectual resource for stakeholders worldwide.



The work currently being done by the UNU is innovative, exciting and impactful in positing sustainable solutions. The institutes and programs now span Japan, China, Malaysia, Finland, Germany, Holland, Portugal, Ghana, Belgium, Venezuela, New York and Canada. There is a call to expand further into the Global South physically and through our work. 



Additionally, there is a call for a greater focus on technology. As the pandemic has demonstrated, we are deeply entrenched in a digital era characterized by intelligent technology. It would be myopic to approach any of our shared challenges without an awareness of this context or to use these tools to contribute towards sustainability. As a 2020 PwC report states: “For all the potential that these technologies offer, however, they could also put greater stress on the Earth, its resources, and on our society.



We should ensure, therefore, that these technologies are harnessed in the right way, to fulfil their potential to revolutionize our world, transform the lives of people, and unlock new pathways to prosperity – fast-tracking sustainable development globally.”



My approach to UNU in the coming months will be a convergence of the emphasis on the solid collaboration network that spans from the Global South to the North facilitated by technology to achieve lasting peace and sustainable development. This is how we create a more equitable world and ensure that Africa and the rest of the world are part of the conversation and action.



The writer is a Rector of the United Nations University based in Tokyo.

Aerial view of a green highway and railway tunnel covered with solar panels in Belgium.

A Critical Player In Tackling Contemporary Global Challenges: An Africa Perspective

By Colin Iles



What do all great leaders have in common?



Number one on my list is they have all achieved mastery in using storytelling to influence at scale.



The book Uncle Tom’s Cabin is widely recognized as having contributed to the end of slavery in the United States. The novel humanized slaves, portraying them as complex characters with emotions, families, and dignity, rather than just as property.



It was a powerful story which polarized opinion and catalyzed support for the abolitionist movement that eventually saw the ending of slavery in 1865.



Powerful stuff, but we shouldn’t be surprised.



Because stories are what have driven human behaviors since the beginning of time. In fact, stories have shaped our history in every regard, whether that relates to religion, politics or the underlying fabric of different cultures around the world.



It should therefore be no surprise that effective storytelling is a powerful tool in business.



By telling stories that emotionally resonate, we can influence others to do incredible things.



And business is all about influence.



Influencing investors to stay the course.



Staff to be more productive and innovative.



Customers to become advocates.



And I’m not the only one who believes in storytelling’s power.



Steve Denning, a former executive of the World Bank, said: “When it comes to inspiring people to embrace a vision or a change in behavior, storytelling isn’t just better than the other tools, it’s the only thing that works.”



Steve Jobs was perhaps one of the greatest proponents of the power of storytelling in business. As he once said, “The most powerful person in the world is the storyteller. The storyteller sets the vision, values and agenda of an entire generation that is to come.”



One of the best examples of how he inspired people with fantasy, not fact, came when he successfully asked American businessman John Sculley to leave PepsiCo and join Apple.



“Do you want to sell fizzy water for the rest of your life or come and help me change the world?” Sculley later said that question landed like a punch in the gut.



If stories are such powerful business tools, why don’t more businesses use them?



Well, purposeful organizations do, and it is central to their success.



A purpose-driven company typically sets social or environmental goals as the primary purpose or mission.



For-profits, on the other hand, follow American economist Milton Friedman’s doctrine that an entity’s greatest responsibility is to satisfy its shareholders. Interestingly, researchers are consistently showing that purposeful organizations are typically outperforming their profit-driven peers.



For example, the book Firms of Endearment showcases how purpose-driven companies like TOMS, Unilever, Ikea and Amazon have, on average, outperformed the S&amp;P500 by 14 times over 15 years from 1998 to 2013.



And if you are looking for more anecdotal evidence, just write down your 10 favorite successful companies. I’d expect the majority to be purpose-led.



The most recent case study is, of course, OpenAI.



Their flagship product ChatGPT gained 100 million users within two months, making it the fastest growing consumer application in history.



But their purpose wasn’t to make a profit. Instead, they focused on “creating safe artificial intelligence that benefits all of humanity”.



Despite their best efforts they are now worth billions! Ok, so back to the why. Why are purposeful organizations such better storytellers and, therefore, influencers?



Well, for starters, for-profits have no inspiring stories to tell.



When your goal is to make money for the sake of making money, and your dream only extends to making more money, what role can you play in a story other than that of the villain?



On the other hand, purposedriven organizations offer ample storytelling opportunities because their purpose is the story, and their staff are the heroes who all want to be part of a movement that benefits society.



And that’s the type of environment that fosters trust, collaboration and innovation.



Purpose allows for storytelling. Storytelling lets you influence. Influence is key to success.



That’s why most of the leaders profiled in this edition have probably mastered using storytelling to influence at scale.



The writer curates thought leadership events that help executive teams transform their organizations; visit coliniles.com.

Entrepreneur Using Laptop At Home Office

Why Storytelling Is A Powerful Tool In Business

As a departure from our historic travel to Europe, my wife and I decided to do something different this year. I suggested Nepal as an alternative, which was instantly accepted. My choice was mainly because the last visit to Nepal was marred by the unfortunate earthquake in April 2015; the horrors of which remain etched in my memory. That year, I had taken 12 members of our university team in Dubai on a team-building exercise to trek up to the Everest Base Camp (EBC). Sadly we had to abandon our trip as the earthquake struck a few hours after we landed in Nepal’s capital Kathmandu. The devastation from this natural disaster stayed fresh in my mind: we had seen numerous bodies being pulled out of the wreckage as we tried to navigate through the rubble and debris without shelter or food for two days before we could fly back home safely to Dubai. EBC had remained on my mind for all these years and owing to work commitments and family pressure, I was unable to plan another expedition. More than anything else, I realized that I could not risk the lives of younger team members who have different responsibilities than an old man who is now hobbling through the last lap of his life.


<div class="wp-block-image">
<figure class="alignleft size-full is-resized"><img decoding="async" loading="lazy" src="https://cms.forbesafrica.com/wp-content/uploads/2023/04/Rakesh-Wahi-in-Nepal-in-January-2023.jpg" alt="" class="wp-image-57941" width="385" height="468" srcset="https://cms.forbesafrica.com/wp-content/uploads/2023/04/Rakesh-Wahi-in-Nepal-in-January-2023.jpg 841w, https://cms.forbesafrica.com/wp-content/uploads/2023/04/Rakesh-Wahi-in-Nepal-in-January-2023-246x300.jpg 246w, https://cms.forbesafrica.com/wp-content/uploads/2023/04/Rakesh-Wahi-in-Nepal-in-January-2023-768x935.jpg 768w" sizes="(max-width: 385px) 100vw, 385px" /><figcaption class="wp-element-caption">In Nepal in January 2023</figcaption></figure></div>


One of the reasons that I wanted to get away for a few weeks was to begin writing my second book (the first, Be a Lion, was published in November 2016).



I have always found myself to be at my creative best in quiet and cold environments. Previous choices, while writing my first book, were Montreux (Switzerland), Edinburgh (Scotland) and Prague (Czech Republic). 



Kathmandu in January seemed like a consistent choice.



With over three decades of travel around the world, our experience in Nepal was one of our best. Kathmandu is not without its infrastructure challenges; nor can you miss the ugly sight of excessive and dangerous electric cabling dangling all over. What makes up for some of the challenges is the weather, the breathtaking scenery and more than anything, the warmth and hospitality of the Nepalese people.



We stayed at the Gokarna Forest Resort about a 30-minute drive from Kathmandu. This jewel of a property was an old hunting retreat for the Nepalese royal family and is nested in a dense forest (with amazing wildlife) that in its midst has one of the most spectacular and challenging golf courses. The management and staff of the resort took hospitality to a notch above the best in the world; in short, it was a perfect choice for a retreat.



The highlight of our trip to Nepal was the helicopter ride to EBC (17,600 feet/5,364 meters) and Kalapathar (18,400 feet/5,644 meters). Since it was a clear day, we got great visibility of Mount (Mt) Everest from Kalapathar. On the whole it was one of the most magical moments in my life and another tick on my bucket list.



What was disheartening, however, was to see that in January, there was very little snow either at EBC, Kalapathar or on any of the towering peaks around Mt Everest. This is a stark reminder of the impact of the depleting ozone layer and the consequent changing weather patterns. The sad reality is that in the period ahead, this change is likely to impact the flow of water from the Himalayan Mountains into the various river systems across the subcontinent. Leaving Kathmandu was emotional for both my wife, Saloni, and I, but we left with the warm thought that this would form part of our periodic travel map in the years to come.


<div class="wp-block-image">
<figure class="aligncenter size-large is-resized"><img decoding="async" loading="lazy" src="https://cms.forbesafrica.com/wp-content/uploads/2023/04/wahi111-1024x775.png" alt="" class="wp-image-57942" width="576" height="435" srcset="https://cms.forbesafrica.com/wp-content/uploads/2023/04/wahi111-1024x775.png 1024w, https://cms.forbesafrica.com/wp-content/uploads/2023/04/wahi111-300x227.png 300w, https://cms.forbesafrica.com/wp-content/uploads/2023/04/wahi111-768x581.png 768w, https://cms.forbesafrica.com/wp-content/uploads/2023/04/wahi111.png 1183w" sizes="(max-width: 576px) 100vw, 576px" /><figcaption class="wp-element-caption">The towering peaks around Mt Everest</figcaption></figure></div>


Traveling back home to Dubai is always reassuring as the city serves as the epicenter of all our activity. Coming home provides the sense of safety and security like no other and was perhaps the cushion needed before getting back to a more hectic routine.



Being the travel hub of the world today, most friends, family and business associates are invariably transiting through Dubai. Additionally, a distinct change over the years has been the number of African friends who have relocated to the United Arab Emirates (UAE) for different reasons but most importantly, to take advantage of its strategic location at the geographic center of the business world.



The number of Africa-centered events here have also increased over the years.



A recent event that was most impactful was the Invest Africa roadshow conducted by the Rwandan Embassy in the UAE along with the Rwandan Development Board.



The response to the presentations was resounding with many UAE businessmen looking at investing into Africa with a positive lens. I am a great believer that these outreach events by investment promotion agencies are critical for all African countries. The Middle East has abundant capital that is looking for stable investments and these presentations catalyze changing the negative perceptions of the African continent.



The global gloom has not subsided. It is not just the senseless war in Ukraine but the recent humanitarian disaster caused by the earthquake in Turkey and Syria.



Over 50,000 lives were lost and thousands of people left without homes; all in a matter of hours after the earthquake struck. What was heartening, however, was to see the global community rally together and provide much-needed medical, food and other compassionate aid to the two countries. It will take a long time for these countries to recover from this disaster. It is also a constant reminder for countries and regions on fault lines to remain proactive and enforce construction guidelines while planning infrastructure projects; there is no control over nature and the mysterious changes invisible to the human eye will continue to work silently; in this instance, the tectonic plate on which Arabia sits has been gradually moving North towards Europe.



An important milestone during this period has been the elections in Nigeria with the usual concern regarding a fair process. As President Bola Tinubu prepares to take charge of the country, there is hope for change for the better and that a genuine effort is made by the new administration to improve the lives of average Nigerians.



The lack of power in the country remains horrific and so does the unimaginable shortage of petrol for one of the world’s largest producers of oil.



These problems, however, are completely eclipsed by the recent demonetization of the currency and the ensuing shortage during the elections.



Over the last few months most people were unable to draw money from ATMs and banks causing a major crisis in a country. It’s expected that the currency shortage will miraculously disappear now that the elections are over. Let’s pray that Nigeria reemerges from the ashes of poor governance of the last decade. We are all expectantly waiting to see some rays of hope; particularly in economies like Nigeria, that can have a material impact on the entire continent.



You see the power of hope when over 500 dynamic ladies from different walks of life get together to discuss the future. This was the outcome at the FORBES WOMAN AFRICA Leading Women Summit (#LWS2023) in Pretoria, South Africa, on March 8, International Women’s Day. The annual event, in its eighth episode, was organized by the ABN Group as an in-person celebration post the pandemic. The event in 2021 and 2022 was held as a virtual one and we did not have the opportunity to meet some of the ladies who had participated.



This year, we witnessed an excellent day packed with wonderful conversations that was kick-started by South Africa’s Minister of International Relations and Cooperation Dr Naledi Pandor (whom we all deeply admire) who delivered the welcome address to a full house. She spoke about all the achievements but also highlighted some statistics on women in managerial positions and on boards of companies that needed to be improved significantly through sustained activism. An important highlight was the number of young women who participated both as speakers and as participants.



I am personally a great supporter of the development of women. In my welcome speech at the FORBES WOMAN AFRICA Awards held on the same day, my key message was that while addressing the gaps regarding equal opportunities, gender-based violence, equal pay, workplace discrimination, lack of financial inclusion etc., the key need is to focus on the education of women at the grassroots level; this requires making sure that our girls are educated and receive the same opportunities at school, at vocational centers and at colleges. This is the important mindset change, where parents must give equal importance to the education of all their children. If we get this right within the family fabric of society, the rest of the change will be systemic.



We need a steady pipeline of well-educated and trained women in every sphere of activity who can lead their teams with confidence and not be a part of checking boxes. Since the room was packed with an inspired audience, I requested each one of them to take it as a mission to educate at least one girl child during their lifetime. This would be truly transformative and not just an ongoing compromise.



The FORBES WOMAN AFRICA Awards are always a delight to witness. Other than the high-quality performance for the opening by two-time Grammy-award winner, Wouter Kellerman, various awards categories were won by dynamic women from across the continent including Rwandan sports star Salima Mukansanga, Africa’s first female football referee at the Men’s World Cup for FIFA 2022.



The winners of the FORBES WOMAN AFRICA Lifetime Achievement Award this year were Louisa Mojela and Gloria Serobe who are an inspiration to future generations, as they followed other giants like Wendy Luhabe, Ellen Johnson Sirleaf and Dr Phumzile Mlambo-Ngcuka who have been winners of the award in previous years. Listening to the various conversations and imbibing the positivity in the room, we can infer that the world must continue to pay close attention to what is happening in Africa. This is indeed a region on the move and the younger generation is not going to accept the status quo. They are asking all the right questions.

‘Pay Close Attention To What Is Happening In Africa’

By Tshilidzi Marwala



As the twentyseventh session of the United Nations (UN) Framework Convention on Climate Change (COP27) unfolded in Egypt in November 2022, it became a signifier of Africa taking climate change into its own hands. The continent has often been placed on the back burner of other nations.



Yet, it is no secret that climate change has impacted Africa the most, even though its contribution to the world’s greenhouse gas emissions is less than 5%. As the African Development Bank states, this is because of the continent’s relatively low adaptive capability, caused by financial and technological weaknesses, and an over-dependence on rain-fed agriculture.



In fact, in September 2022, the State of the Climate in Africa 2021 UN report revealed the convergence of climate shocks that plague Africa. For example, 2021 Africa experienced at least the fourth warmest year on record. It is expected that by 2030, between 108-116 million people in Africa will be threatened by rising sea levels.



Furthermore, the drought in East Africa is worsening, whereas North Africa is experiencing extreme heat. In the past 50 years, drought has claimed the lives of over half a million people and this resulted in $70 billion economic losses. Furthermore, there has been a 34% reduction in agricultural productivity growth since 1961 as a result of increased temperatures. Therefore, climate change is a significant driver of displacement on the African continent and currently, only 40% of people are covered by MultiHazard Early Warning Systems. Resounding cries from young activists that the future was being stripped from Africa were heard beyond the doors of COP27 – a necessary and powerful call to action as the conference began. The first ‘African COP’ since 2016 represented a rewriting of the continent’s narrative as African nations made a case for climate justice.



As Absa’s Group Chief Strategy and Sustainability Officer Punki Modise phrased it: “COP27 marked a necessary – and overdue – concession to pragmatism and the recognition that if we are to effectively mitigate the impact of climate change at a global scale we need to slowly reframe climate issues, especially in the context of human dignity.” The impact of this shift was tangible.



Towards the end of November, the conference closed with a breakthrough agreement to reframe and create new funding avenues for vulnerable countries hit hard by climate disasters. New funding arrangements will be established alongside a dedicated “loss and damage” fund to assist developing countries. Additionally, a transitional committee was established to make recommendations on how to roll out funding, with the first meeting expected in March this year. 



The Santiago Network will accompany funding for Loss and Damage deployment to offer technical assistance to these nations.



Of course, as history has demonstrated, the implementation and fulfilment of pledges always fall short of what is needed for the world to deal decisively with climate change. It remains to be seen whether the money will flow – and whether this will be accompanied by necessary commitments from developed nations to phase out fossil fuels and curb the damage it has inflicted over the years.



In reframing the African narrative on climate change, however, there has also been a shift away from solely relying on the Global North to fulfil its commitments. The launch of the African Climate Risk Facility created by 85 insurers in the continent to protect against droughts, floods and tropical cyclones by providing climate risk insurance, represents Africa taking climate action into its own hands. The facility is a $14 billion local market-based funding tool to help African countries increase the resilience of their vulnerable communities.



This speaks to the argument made in the aftermath of COP26 in 2021 for localized solutions and inherently reframes the continent’s ability to respond when disaster hits in response to the often unfulfilled commitments of the Global North.



COP27 has been a valuable exercise in reaffirming developed nations’ commitments to vulnerable and less developed nations – a vital tool for tackling climate change and reframing the continent’s position. The messaging is clear: the Global North must continue acknowledging its role and providing funding and support, but Africa should no longer plead but take matters into its own hands.

Protest during the UN climate summit in Egypt

Climate Change Action Is A Necessity Africa Cannot Ignore, Anymore

Rwanda’s mining ambitions will soon be met as a result of increasing, and systematic, investment in productivity, exploration and value addition.



Last year, mineral exports were Rwanda’s largest foreign exchange earner, bringing in close to $800 million compared to just over $400 million in 2019. This huge jump in earnings was due to two main factors.



First, owing to increased mines productivity and mineral value addition through enhanced investment, overall export of minerals increased last year to 18, 658 tons from 7,343 tons in 2019.



Second, the increase in global commodity prices of coltan, to $48.82 per kilo in 2022 compared to $33.7 per kilo in 2019. Similarly, cassiterite prices doubled from $9.7 per kilo to $17.3 in the same period.



Rwanda has a long history of mining. The very first instances of mineral exploration took place between 1920-1930 when a team from UMH (Union Minière du Haut Katanga) sent a Belgian team to carry out geological studies. Following successful exploration, two companies MINETAIN (Ruanda-Urundi Tin Mines Company) and SOMUKI (Muhinga-Kigali Mining Company) started mining activities in 1934.



Following independence in 1962, further exploration took place between 1968 and 2020. Using geological mapping, airborne surveys and geochemistry, Rwanda was found to have deposits of wolfram, cassiterite, gold, colombo-tantalite, lithium, beryl, rare earth minerals and various gemstones. More focused investment is being planned to determine the minerals resources of country for de-risking mining investment.



While Rwanda is moving in the right direction in terms of mining revenues, there is still a long way to go before we reach the target set of $1.5 billion by 2024 as set out in the National Strategy for Transformation.



Rwanda Mines, Petroleum and Gas Board is working with the private sector to invest in modern mining techniques and equipment. As a result, we intend to recover between 60%-80% as compared to only 40% using less efficient and rudimentary tools.



By investing in refining and smelting, Rwanda has been able to add value to the ores that it mines as well as the by-products have created even more value. For example, Gasabo Gold Refinery at the Kigali Special Economic Zone, refines raw gold and also sells silver as a by-product. Similarly, Luna Tin Smelter located in Karuruma processes cassiterite and also sells coltan as a by-product. POWER- X coltan refinery has started to refine coltan ore and separate tantalum and niobium.



As a regulator, Rwanda Mines, Petroleum and Gas Board is working closely with the mining industry to ensure best practices in terms of safety and environmental protection. We also partner with the University of Rwanda and Rutongo School of Mining at Rwanda Polytechnics, as well as vocational training institutions, to increase the number of mining professionals in the country.



Traceability is an important aspect of the mining sector and that is why we partner with ITSCI (ITRI Tin Supply Chain Initiative) and BSP (Better Sourcing Program) to guarantee that Rwanda’s minerals are conflict-free.



The steps that Rwanda is taking are creating a modern, viable mining industry. In addition to its mineral potential, the progress that Rwanda has registered in terms of ease of doing business, transparent regulatory frameworks, security of persons and property, political stability, stable electricity, and zero tolerance for corruption makes Rwanda an attractive regional destination for mining and mineral processing.



The world is at the beginning of a green-energy revolution. And with soaring global demand for the technology metals i.e., tin, tungsten, coltan and Lithium, Rwanda is set to become a player in ore production and we are working to become mining hub, focusing on processing and trading.



Rwanda’s mining journey has been a long and difficult one, but with the right focus, strategy and investments, we are confident that the sector will continue to grow and make valuable contributions to our economy.



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By Amb. Yamina Karitanyi, Chief Executive Officer of Rwanda Mines, Petroleum and Gas Board

RMB Site visit to Piran Musha

Why Rwanda’s Mining Sector Is Poised For Even More Growth As Commodity Prices Continue To Rise

By Gary Martin 



It came with a snazzy new title, a salary rise big enough to starve off the impact of the spiraling cost of living, a corner office to die for and the promise of an engaging and supportive work environment.



Yet just one month into your new job, you realize you have been sold a pup as you come down with a bad case of “shift shock”. You desperately want to boomerang back to your old job but fear you might have slammed the office door shut a little too hard when walking out on your former employer.



As employees continue to jump from one job to the next to try to jag better pay and working conditions, more and more workers are discovering that the grass is not always greener on the other side.



Shift shock, also known as ‘quitter’s remorse’ or ‘new job regret’, is washing over those who have switched jobs only to find their new position is not living up to their expectations.



There is little doubt that plenty of workers are happy in their new jobs.



Yet for others, the grass on the other side is less green. Some job hoppers have discovered that the grass they have strayed onto is fake lawn. Despite assurances to the contrary, flexible work arrangements are rigid, the work environment frenetic rather than relaxed and open doors to managers are slammed shut.



Others have worked out that their fresh patch of lawn is exactly the same color as the old one. Their new role comes complete with the same feelings of dismay, disengagement, disappointment and disaffection that accompanied their old gig. Perhaps worse, some job switchers fast realize their new lawn requires even more water to maintain as their old patch – a metaphor for a new job that is even more demanding than the old one.



And many will be only too familiar with a scenario in which their new lawn starts out lush and well-manicured before slowly turning brown.



Under these circumstances, the rot sets in as they are drip-fed the harsh realities of a workplace culture beset by harassment, bullying and gossip. Those who job-hop can quickly find themselves sinking in quicksand rather than strolling across a patch of thriving, perfect-looking lawn.



No matter the depth of your due diligence or the length of an interview process, it will remain a gamble.



You will be spinning the roulette wheel on things like whether the new job makes adequate use of your existing skills, offers the development opportunities you have been seeking and provides the longer-term career path you had been hoping for.



While a little shift shock is to be expected until you find your feet in a new role, experts suggest the majority of those suffering from quitter’s remorse will last less than three months with a new employer.



For those who accept a new job only to find it is a poor personal fit or an oversold opportunity, three choices remain. You can stay with your new job and remain disillusioned indefinitely, look for another more suitable job or try to boomerang back to your former boss.



Boomeranging to an old position is increasingly attractive for those suffering from shift shock. This assumes, of course, they left their former employer on good terms and their old job or a similar role is available.



While asking for an old job back might be ego-bruising for some, capable former employees have little to fear.



Many former employees find themselves welcomed back with open arms. Some are even able to negotiate better employment conditions.



Employers acknowledge that where vacancies do exist, hiring a boomerang worker can save recruitment and on boarding costs because most former returning employees can hit the ground running.



There is a message in all of this for those workers contemplating a switch in jobs.



If there is something in your current role that you would like to change or improve, consider discussing it with your employer first before you exit the office door. It is a whole lot simpler than making a move and then hoping for a second chance when opportunities elsewhere do not turn out as planned.



So if you are thinking of jumping the fence to find a new and greener patch of grass, try watering the side you are on first before making the move.



– The writer is Chief Executive Officer of the Australian Institute of Management WA

Business colleagues in meeting discussing project

Op-Ed: Shift Shock Pushes Workers Back To Their Old Jobs

By Colin Iles



I was recently asked to comment on how the opportunities for women leaders have changed since I started work. And then, I was asked to share some thoughts about what changes we can expect over the next decade.



To the first question, my answer was simple. Not much. According to the World Economic Forum, only 15% of the Fortune 500 are run by women. In South Africa where I’m located, this drops to only 7% for Johannesburg Stock Exchangelisted companies.



And that’s despite billions being spent on diversity training, new hiring models and anti-bias algorithms.



Having lived through and led many cultural change programs, I’m not surprised. It is ridiculously hard to try and change human behavior.



And HR-led diversity initiatives are trying to fix behaviors that have become systemic and entrenched over decades. I don’t know if these behaviors were created by genetics or the persistent pre-teen brainwashing about what our respective roles in society should be.



I do know that unwinding behaviors, that have developed with 20-plus years of application prior to even entering the workforce, is always going to be a tough ask for any HR team, no matter how right, how passionate, and how resourced.



Depressing as this may be, I am still incredibly upbeat about the possibilities opening up for female leaders to do incredible things over the next decade.



But this change will not come because the incumbent male leaders have an epiphany about the benefits of diversity. It will be driven by organizations changing in a way that aligns better to diversified leadership.



And the good news is this transformation has already started.



Over the last decade, we have seen more and more examples of companies that focus on “doing good”, outperforming their profit-at-all-cost competitors. Case study after case study has shown how purpose-led companies have happier customers, more engaged employees and better support from their investors.



Patagonia, as one example, has cemented its place as a premium outdoor brand by focusing on using business to save the planet.



Thousands of other companies are now seeking accreditation from organizations like the US Based B-Corp, to showcase how they are using business to benefit people, communities and the planet.n(If you know Ben &amp; Jerry’s or Lemonade, they are both registered B-Corps.) 



And listed companies are also facing more pressure from institutional investors to apply the United Nations-led Sustainable Development Goals. BlackRock’s CEO Larry Fink has written regularly about how he is more likely to invest in businesses that make “a positive contribution to society”.



So the shift from “for-profit” looks to have momentum. This will obviously challenge those incumbents that have a symbiotic relationship between the CEO’s bonuses and shareholder returns, as purposeful organizations have more complex and ambiguous environments to manage.



This might mean taking the hard decisions not to operate in oppressive jurisdictions, accelerating the switch to renewables or doubling junior pay.



Bad for bonuses. Good for the planet.



Managing these trade-offs will require conviction, courage and curiosity, because there is no playbook for this new model.



And that is precisely why the opportunity for female leaders is better than ever before.



This new-styled leadership model is not male-dominated and females are already trailblazing in these somewhat unchartered waters.



Take Indra Nooyi for example. As PepsiCo’s CEO prior to 2018, she introduced “performance with purpose”, sold off a profitable set of food brands that didn’t align with her vision and made significant inroads in rebalancing the portfolio towards healthier, more sustainable food and drink offerings.



Transformation stories from leaders like Nooyi demonstrate why purpose is a more powerful motivator than profit, and how curious and courageous female leaders can drive transformation programs that benefit society as a whole. So, there is real opportunity for women in this new leadership paradigm. And we, as in society as a whole, really need them now to help transform business into a force for good, that can improve lives and save our planet.



This requires radical change. And diversity will be a critical step in achieving this.



The writer curates thought leadership events that help executive teams transform their organizations; visit coliniles.com

Working Late. Young woman, architect working late in office

Business Models Are Changing. Why It’s Good For Women

When I was packing my bags to leave South Africa at the end of November 2022, the country was going through political lobbying and hobnobbing that seemed to be far more fragmented than I had witnessed from my first visit in 2004. As I had predicted in 2004/5 and have spoken and written about for years, the time for true democracy in the country has come. This is not about any one individual or event, but history is evidence that nations emerging from any oppression or a change in system take time through disillusionment, to cast their old beliefs/misplaced loyalties and embrace change. The greatest example of this political change was seen in India that has gone through a very similar transition in its political system after 1947.



The Indian National Congress party lost national consensus in 1977 (30 years post-Independence), after which there was a long era of coalition governments the most successful of which was the BJP-led alliance from 1999 to 2004. No other coalition government between 1977 and 1999 managed to survive a complete five-year term in office. The Congress Party in India was almost annihilated in the 2019 elections when the party failed to secure 10% in parliament (less than 50 seats in a house of 543). It took 30 years to lose power and 72 years of dynasty politics for the party to be completely routed through implosion. There is no better lesson in political history than this experience to learn from. As I had written in 2021, the era of coalitions is likely arriving in South Africa and so has the emergence of new political parties that will provide the checks and balances that are desperately needed. There will be expected fragmentation in the provinces; the jury is now out whether the ruling but bankrupt African National Congress (ANC) will be able to hold on to a 51% electoral majority vote in 2024. Sadly, this process will bring with it a period of continued uncertainty and indecisiveness further compounding the problems that the country already faces.



Interestingly, there are about 25 African countries that are going to polls in the next two years. Amongst many others, these include Nigeria, Zimbabwe and Gabon in 2023 and South Africa, Botswana, Mozambique, Namibia, Mauritius, Rwanda, Ghana and Ethiopia in 2024. This is therefore, going to be an exceedingly important phase in the African continent where people will exercise their vote, after the pandemic, when being faced with growing unemployment, food, water and power shortages, growing economic disparity and increasing corruption. 2022 was also a telling year in Africa when the voters in Kenya surprised everyone by electing President William Ruto who defeated Raila Odinga, in a stark departure from historic dynasty politics.



In a paper published by the Africa Center for Strategic Studies in September 2022, research associate Paul Nantulya wrote: “Kenya’s 2022 general election has not followed the familiar script of voters exercising their civic duty only to helplessly sit back and watch their votes be manipulated. Kenyans have attempted to correct this through comprehensive constitutional reforms, an active and vigilant citizenry, and an increasingly independent judiciary. In the process, Kenyans have carved out a roadmap for themselves and democratic reformers across the continent to follow to enhance the integrity and legitimacy of their electoral process.”



These words are going to echo and reverberate in many countries as they head towards greater governance and accountability. The power of the people cannot be underestimated or their benevolence taken for granted in perpetuity. Their patience will run out bringing about the much-needed change. Ruling parties should pay heed to the needs of their people and take action that will create opportunity for greater good and not benefit a small section of society.



In addition to the expectation of these results for nationals, this is going to be a period of anticipation for investors into Africa. Over the last few years the common theme from Africa has been about the growing population that will bring about exponential growth rates and consequently economic opportunity. Every sector is expecting rapid growth to cater to the growing consumer demand. Other than historic investments in mining and extractive ventures, peers are gearing up for additional investments into infrastructure, industry, agriculture, power generation and distribution, education, retail and many other sectors. Technology and innovation are also playing a critical role in disrupting business models in retail, communications and banking. The outreach activities from African countries into the Middle East (a region known to be a net exporter of capital) are higher than ever before. This is a good time for policy-makers to ensure that on one hand, a more investor-friendly approach (including but not limited to simplifying visa procedures) is taken but on the other, incentives must only be given for long-term investments, industrial development and beneficiation. African economies will never be able to stand on their feet if raw material/minerals or agricultural produce continue to be exported and no value-added industries are set up locally.



A major risk in Africa remains currency risk. Some of the major economies that have fared badly are Nigeria, Ghana and South Africa. The Ghanaian Cedi in particular took a bruising starting at about Cedi6 to the US$ at the start of 2022 and ending the year between Cedi12-14 to the US$. The Nigerian Naira has devalued almost 50% since 2020 and remains a very volatile currency with no end in sight. The bigger problem in Nigeria remains remitting funds out of the country where businesses and individuals can lose up to 30% value while buying US dollars in the open market. The South African Rand has also remained extremely volatile. When we invested in 2006/2007, the Rand was at approximately ZAR6 to a US$ and is currently trading around ZAR17 to a US$. This volatility, coupled with the high-interest rates, particularly in West Africa, makes business expensive, unpredictable and unattractive particularly for foreign investors. The situation is not getting any better as borrowings are continuing to increase with countries like South Africa, Kenya, Ghana and Rwanda having debt to GDP ratios of between 70% to 100%; while these numbers are not as alarming as those of Japan, US, Singapore or other European countries, the ability of most African countries to repay debt is questionable. This forces inequitable negotiations with lenders that is continuing to impact growth.



It is evident that the continent will continue to suffer the historic maladies as mentioned above. This can however, slowly but surely, be mitigated through fiscal discipline, policy reforms and good governance. Key is the political will to make it happen.



While we have learned to deal with and live with Covid, we must not forget the experiences of the last 24 months. China has finally abandoned its zero-Covid policy that is likely to have an adverse impact as there will be a wave of visitors likely traveling all over the world. While this will give a boost to the tourism sector, it is possible that we may see a spurt of fresh strands of Covid in our midst.



I would advise against throwing caution to the wind; people must continue to behave responsibly and adhere to Covid protocols to prevent the spread of the pandemic. A lot of countries are watching the news coming from the East and some travel protocols are being put in place to ensure that tests are carried out as well as the mandatory vaccination certificates that are now a part of travel documents everywhere.



On the festive side, Dubai was at its colorful best during the year-end break between Christmas and New Year’s Eve. The city reportedly attracted over 12 million tourists in the first nine months of 2022 and possibly over 16 million for the year getting close to its pre-Covid numbers and re-establishing itself as one of the preferred global holiday destinations. The numbers in the last quarter were definitely skewed because of the FIFA World Cup in Qatar when a large number of spectators camped in Dubai and took advantage of the incredible logistics that had been set up by the Dubai Tourism department to ensure that there was sufficient hotel capacity and flights between Dubai and Doha. New Year’s Eve was a fairy tale experience, like every year, with thousands of visitors gathering to watch the fireworks at various landmark sites across the city; the most prominent of which was Burj Khalifa. There is not a single bit of real estate in Dubai that is not lit up to celebrate the coming of the New Year in an inclusive manner and without any incidents of crime or unpleasantness.



I often wonder why we are unable to get this kind of celebration in Africa. Although the continent has so much to offer, Africans leave behind this rich heritage and natural beauty and converge to other destinations around the world. As an example, Johannesburg is a dead city during New Year’s Eve. So much could be done to create magic in such a wonderful setting as in Johannesburg, Cape Town, Durban, Nairobi, Kigali and so many other exotic destinations across the continent.



What would it take to transform some of Africa’s main cities into tourist destinations with activities for families so that African culture and cuisine can be sampled by people from around the world? This needs to change and we need to make sure that African gems do not remain best-kept secrets; when visitors experience the rich culture, game reserves, sports, beaches and the warm African hospitality they will spontaneously and deliberately make the continent a destination for leisure, hospitality and consequently business. Wishing all our readers a very prosperous and healthy 2023.

From Coalitions To Currencies To Celebration, Thoughts On The Continent

By Tshilidzi Marwala



As the African continent, we find ourselves somewhat in an economic depression. Despondently, this represents a significant setback for the continent that showed an impressive growth trajectory just a few years ago. As Frankema and van Waijenburg indicated in a 2017 journal article, Africa Rising?&nbsp; From a Historical Perspective, the African growth story in the last two decades had overthrown the ‘Afro-pessimism’ narrative that dominated the 1980s–2000s and replaced it with an Afro-euphoric outlook.&nbsp; However, this is no longer the case.&nbsp;&nbsp;



An African Development Bank (AfDB) report recently revealed some of the deep fissures, including the effect of climate change, which is mounting a threat to the lives and livelihoods of Africans. The economic troubles are arising from the Russia-Ukraine war, and pushing a further 1.8 million people in the African continent into severe poverty. In 2023, these crises will add another 2.1 million to Africa’s additional financing needs estimated at $432 billion. Because of these reasons, it is apparent that our growth story is facing a trough.&nbsp;&nbsp;&nbsp;



We seem a world away from the rising Africa story that dominated before the pandemic. The economic boom we experienced at the time is projected to lift the region’s ‘bottom millions’ out of poverty by 2030.&nbsp; Yet, data indicates that around 30 million people in Africa were thrust into deeper poverty in 2021 due to approximately 22 million job losses. Furthermore, growth has faltered significantly in 2022 amidst a global environment with several new tremors, high volatility, and uncertainty. Some experts have called for a significant change to relaunch the African economies.&nbsp;&nbsp;



Arguably, this could arrive from the African Continental Free Trade Area (AfCFTA). The agreement brings together 55 African Union (AU) member states with a combined population of 1.2 billion people, a rising middle class, and a Gross Domestic Product (GDP) of approximately $3.4 trillion. The 2022 CEO Trade Survey Report by Pan African Private Sector Trade and Investment Committee (PAFTRAC) surveyed over 800 private sector players between March and June 2022 and found that while there was significant optimism that the AfCFTA will revitalize African trade, there is considerable uncertainty on how this will be rolled out. As a rudimentary explanation, through policy that emphasizes increased intra-African trade through deeper levels of trade liberalization and enhanced regulatory harmonization and coordination, the AfCFTA is envisioned as a way to reshape our approach to the economy on the continent through boosting trade ties between African countries.&nbsp;



The United Nations (UN) Economic Commission for Africa projects that the AfCFTA has the potential to increase African economic output by $29 trillion by 2050. Africa accounts for only about 2.4% of total global exports and is also considered a minor player in its own region. This is because trade barriers are immense, and poor infrastructure is in place. It has long been demonstrated that international trade drives growth and poverty reduction. The AfCFTA promises to usher in trade facilitation policies that reduce non-tariff barriers. For instance, the AfCFTA launched an online mechanism allowing businesses to report trade barriers and monitor them. Elsewhere, introducing trade facilitation policies such as standardizing procedures, implementing a common rule of origin and installing one-stop border posts is expected to open intra-African trade. Additionally, the emphasis on revitalizing the manufacturing industry on the continent will shift Africa’s economy away from one that is commodity and resource-dependent.&nbsp;&nbsp;



Though the pandemic presented a significant setback for implementing the AfCFTA, we have seen some progress in recent months. In October 2022, for instance, we saw the rollout of trade deals between eight member states with 96 different products that are duty-free and quota-free. This has been encouraging, given the lag between the promise of the AfCFTA and the tangible impact since its implementation. It seems that this agreement will be a manifestation of the vision of the former Ghanaian president Kwame Nkrumah, who once prophesied: “We shall accumulate machinery and establish steel works, iron foundries and factories; we shall link the various states of our continent with communications… It is within the possibility of science and technology to make even the Sahara bloom into a vast field with verdant vegetation for agricultural and industrial developments.”&nbsp;&nbsp;



Indeed, Africa rising may find the AfCFTA an avenue for a lasting narrative. 



– The writer is the outgoing Vice-Chancellor and Principal of the University of Johannesburg and on March 1, 2023, will become Rector of the United Nations University.

Global logistics network transportation, Map global logistics partnership connection of Container Cargo freight ship for Logistics Import Export background

‘Free Trade Necessary To Increase Africa’s Economic Development’

Using the words “work” and “home” in the same sentence usually stirs up a mixture of delight and disapproval – in almost equal parts.&nbsp;



On the one hand, those lucky enough to work from home tend to experience the sense of euphoria that comes from escaping the watchful gaze or sometimes intense glare of those in charge.&nbsp;



In sharp contrast, a mere mention of the concept of remote work plunges an increasing number of bosses into a sense of “productivity paranoia”.&nbsp;



Productivity paranoia refers to a boss’ heightened suspicion, scepticism or speculation that their employees are not being as productive while working from home, a local coffee shop or a co-working space.&nbsp;&nbsp;&nbsp;



The trending phenomenon, which sits alongside a bundle of other buzzwords generated by our workplace behaviors so far this year (think: quiet quitting, quiet firing, loud leadership), was revealed in Microsoft’s latest Work Trend Index.&nbsp;



The index declared that 87% of workers thought they were just as productive – if not more so – when working from home.&nbsp;



At the same time, only 12% of bosses felt fully confident that those working remotely were as productive as those sitting behind their desks in the office.&nbsp;



While employees work harder than ever, bosses simply do not believe them. In fact, some bosses label the practice of working from home as nothing short of a pantomime of productivity.&nbsp;



While the huge gulf between what managers and workers feel might come as a shock, the truth is some bosses have never truly embraced remote work practices.&nbsp;



At the heart of the kerfuffle between managers and remote-operating staff is the questionable assumption that workers are more productive when they are under the watchful eye of their supervisor.&nbsp;&nbsp;



Yet being in the office does not guarantee productivity.&nbsp;&nbsp;



Some workers fake productivity by appearing busy online, staying back late to keep up appearances, participating in endless purposeless meetings, engaging in superficial conversations with colleagues or making mountains out of molehills to portray an essence of efficiency.&nbsp;



Bosses’ productivity paranoia prevails despite remote workers claiming they tend to get more done from their loungerooms without the daily distractions of chatty colleagues and the frustrations of a time-sucking daily commute.&nbsp;



You will realize your boss has a bad case of productivity paranoia when you work from home and are asked to account for how you spent a day away from the workplace, when additional “supervisory” type meetings suddenly drop into your calendar or when you receive a high volume of calls or texts to “check in” on your progress on specific work tasks.&nbsp;



Perhaps worse, you will know your boss has an extreme case of productivity paranoia when they have some form of “bossware” installed on technology used in remote settings. It is a form of software that allows managers to spy on their employees’ online activity – or lack of it.&nbsp;



It is hard to explain why productivity paranoia has risen to such highs among managers.&nbsp;&nbsp;



A number of theories are emerging including that bosses feel they lack control when their employees are out of sight or miss the feeling of having team members running after them, looking up to them and paying them compliments.&nbsp;



It is also a firm possibility that well-meaning bosses have not been given adequate training to be able to manage in a remote-working office environment.&nbsp;&nbsp;&nbsp;



Organizations afflicted with productivity paranoia are likely to suffer the consequences.&nbsp;



Fear around the lack of productivity of those working remotely might lead to valued and highly capable employees quitting, cause those working at home to engage in productivity theatrics to prove a point or contribute to the emergence of workplace cultures that are characterized by mistrust, disrespect and inequality.&nbsp;



There will always be those who take full advantage of a lack of direct supervision while working remotely.&nbsp;&nbsp;&nbsp;



Regardless of whether an employee is working in the office or virtually, we will never fully know exactly what every employee is doing 100% of the time.&nbsp;



What every boss needs to realize is employees have fully embraced flexible work and that means remote work is here to stay.&nbsp;&nbsp;



It will require those with productivity paranoia to shift their mindset from one locked into “I can’t see you so I don’t know what you are up to” to a different way of thinking which asks remote workers “if you have everything you need to get your job done”.&nbsp;



Gary Martin- The writer and professor is Chief Executive Officer of the Australian Institute of Management WA

Closeup shot of an unrecognizable woman using a laptop while working from home

Why WFH Has Become A Pantomime Of Productivity For Some

By Paula Slier



As predicted, South African president Cyril Ramaphosa has won the presidency of the ruling African National Congress (ANC) for a second term. Even the markets appreciated the news with the South African rand strengthening against the dollar.



But judging from how ANC delegates behaved at the party’s 55th elective conference that wrapped up this week, it’s clear the political culture within the party is still the same. The division between Ramaphosa’s allies and the aggrieved and aspirant who are part of a loosely-defined group called the ‘Radical Economic Transformation’ (RET) is as obvious as it is concerning.



Despite its vagueness, the RET is destined to remain a central and powerful bloc within the ANC and a constant constraint on Ramaphosa’s leadership and any of his efforts to reform the economy and promote clean governance.



Still, the ANC made history when delegates voted three women to the top seven party positions. A first in the organization’s 110-year history, or as the newly elected Gwen Ramaphosa put it, “I am embarrassed to be the first woman to be elected as the ANC’s Treasurer-General”.



Seeking a second term as party President, Ramaphosa was described by many commentators as “a shoo-in for re-election” – the only question was who would surround him? But doubt seeped in following revelations of a robbery at his private game farm in 2020. It was less the robbery than the contents which sowed uncertainty about his presidential prospects. More than $500,000 was alleged to have been stuffed in his sofas when the alleged robbery took place.



True to character, Ramaphosa has been hiding for the better part of the past week, following a parliamentary panel report that found preliminary evidence of improper conduct by the President and recommended he face impeachment inquiry.



The question is what happens now? Will unity prevail among the two divided groups which are meant to be one within the ANC? And more urgent, what will be Ramaphosa’s priorities going forward?



South Africa needs him to govern on behalf of the country, not only the ANC. Party members have clearly given him the benefit of the doubt regarding the scandal at his game farm, the details of which he has still to fully explain. Not only is he expected now to heal the divisions within his party, but he should not repeat the mistake he made during his first term when he spent way too much time trying to unite the ANC and bringing in some of those members who wanted to get rid of him.



South Africa’s economy is hobbling along. The energy crisis has reached crisis levels as South Africans prepare for a bleak, load-shedding (power cuts) ‘festive’ season as the country’s electricity public utility, Eskom, generates output plummeting to completely new lows.



And then there’s the crime. More people die in South Africa each day than in the Russia-Ukraine conflict. This crime &#8216;capital&#8217; of the world continues to impact businesses and scare away investors. Many young South Africans, especially graduates, believe they live in a hopeless economy that does not create job opportunities for them. One of the main recommendations at the conference was to give the ANC leadership a new look by including young people in leading positions.



As for Africa, what does Ramaphosa’s re-election mean for the continent?



The South African president seemingly still has the interest of Africa at heart. In February this year he spoke highly about the developmental challenges the continent faces. He noted that building a better Africa and a better world was the cornerstone of South Africa&#8217;s foreign policy and that for Africa to



play a full and equal role in global affairs “we must first attend to the developmental challenges of the people of Africa,” he said.



“We must develop our own economies through the African Continental Free Trade Area (AfCFTA), promoting investment and tourism within Africa, accelerating industrialization and driving green growth and low-carbon development. We must end all conflict and entrench democracy and good governance.



“Africa has found a new voice. It is bold and unapologetic in its expectations of our partners. At the same time, we are determined that Africa&#8217;s challenges must be, are being, and will be, solved by Africans themselves,” said Ramaphosa.

ANC 55th National Conference Day 05 At Nasrec

What Does Ramaphosa’s Re-Election Mean For Africa?

It was wonderful to see the revival of the Forbes Global CEO conference that was held post Covid in Singapore in October this year. It was great to reconnect with global leaders as well as meet Forbes’ extended family from different parts of the world. The highlight of the event was the declaration from the organizers that the net worth in the hall of 400 delegates was $500 billion; it wasn’t surprising to hear that number considering that 30% of the wealth came from the richest man in the room – and third richest in the world as of November – &nbsp;Gautam Adani, whose speech was a leaf from ‘Invest India’. The mood was buoyant in Asia and despite all the troubles around the world, there was much optimism about the future of Asian economies including the rich GCC countries that remain optimistic because of stable oil prices. This was a sharp contrast from my stay in Europe in July and August where the metaphorical and absolute temperatures are getting to be a point of concern about the future.



I was also fortunate to go back to Namibia (after 10 years), at the request of Dr David Namwandi (the country’s former minister of education), to deliver a talk to a mixed audience of ministers, diplomats, businesspeople, and alumni at The International University of Management. Namibia remains a small country by all standards and is still highly reliant on a rich and powerful neighbor as evident from the fact that almost 90% of all retail brands are South African brands. However, Namibia is an economy on the move and determined on chartering its own future in the years to come. Not only has the country recently discovered oil but has also pioneered the green energy revolution through the green hydrogen project – Hyphen, which is a multi-billion-dollar investment that will take the country towards energy security and clean energy. I was particularly impressed with the quality of executives I met at the Namibian Investment Promotion and Development Board who have a clear mandate from the government to catalyze investments.



This push is becoming more evident from almost all Southern African Development Community (SADC) countries that see the opportunity being created by the vacuum from a weak South Africa; that is still tottering in an abyss of short- to medium-term economic gloom. I am a believer that South Africa will regain its position on the African and global stage in the medium-term, but the political uncertainties and institutional failures will see a gloomy outlook for the next decade. This is no different from Nigeria which is the other straggling economy in sub-Saharan Africa (SSA), with huge potential but poor political leadership. The economy that has the greatest opportunity over the next five years is Kenya. The country has new leadership and perhaps a good chance to bring about changes to take advantage of the global interest in SSA. Our problems in Africa are however nothing compared to what humanity faces today.



As we end 2022, we seem to be meandering in a state of oblivion where the blind continues to lead the blind and there is no sight of the ‘one-eyed king’ who can provide leadership or direction in a compass-less global society that is appearing to be more morally bankrupt than ever before. It’s not as though we do not know the problems, or we do not have the solutions. School children are standing and screaming solutions before a deaf audience of leaders who continue to provide lip service to imminent issues; they are silent as self-interest remains the guiding principle of our actions. Words come cheap and we can make all the commitments at global platforms, but the sad reality is that nothing will change.



My views on the failure of the United Nations (UN) as an apex body to regulate the safety and security of mankind remain unabated. The organization needs a complete overhaul if the world order needs to be rebalanced and powerful and developed nations held accountable for their actions. However, that remains a wishful dream like many others. However, toothless as the office of the UN Secretary General (UNSG) is, you cannot ignore the appeal of António Guterres&nbsp;before an audience of global leaders at COP 27 in Egypt (except for all who matter and who were conspicuous by their absence including leaders from China and India).



For those who missed reading the UNSG’s speech, I am quoting from it: “This UN Climate Conference is a reminder that the answer is in our hands.&nbsp;And the clock is ticking.&nbsp;We are in the fight of our lives.&nbsp;And we are losing.&nbsp;Greenhouse gas emissions keep growing.&nbsp;Global temperatures keep rising. And our planet is fast approaching tipping points that will make climate chaos irreversible.&nbsp;We are on a highway to climate hell with our foot still on the accelerator. The war in Ukraine, other conflicts, have caused so much bloodshed and violence and have had dramatic impacts all over the world. But we cannot accept that our attention is not focused on climate change. We must of course work together to support peace efforts and end the tremendous suffering. But climate change is on a different timeline, and a different scale. It is the defining issue of our age.&nbsp;It is the central challenge of our century. It is unacceptable, outrageous and self-defeating to put it on the back burner. Indeed, many of today’s conflicts are linked with growing climate chaos. The war in Ukraine has exposed the profound risks of our fossil fuel addiction. Today’s crises cannot be an excuse for backsliding or greenwashing.&nbsp;If anything, they are a reason for greater urgency, stronger action, and effective accountability.” And it continues….



These are the helpless words coming from one of the most influential men on earth. Let’s examine some of the realities on the ground.



It’s not surprising to see that all nations are behind the curve on their ‘carbon zero’ strategy. It’s a well-known fact that the developing world will not have the resources to make the changes and the commitments made by the developing countries have not been kept and as and when the allocations are made, they will come with caveats that will most certainly bind them to donor nations for all times to come. These caveats are not clear right now but going by history there will be no free lunches during this transfer of technology. Given that the developed world is struggling with an energy crisis right now, most of them are unlikely to be able to allocate significant funds towards developing countries particularly in Africa.



There is major reluctance on the part of policy-makers to make drastic changes in policy to get large and profitable corporates to participate in this transition. If the world is indeed at risk of perishing and if the words of the UNSG are to be treated seriously, there needs to be drastic action. Let’s explore the banking sector briefly. In 2018, the banks across the globe collectively made a profit after tax of $1.36 trillion. This number is significantly higher for 2021 and 2022. It doesn’t take a scientist to understand that one year’s profits from all the banks or even 50% of profits for a period of three to five years will provide adequate resources to start a meaningful process of change. Similarly, the tobacco industry, the gaming industry, casinos and all luxury goods companies, just to name a few, should mandatorily be required to forgo profits for the next few years. Ultimately, the banks have made their money from high-interest costs and fees; there is no reason why they should not see good sense in contributing back for a change. As far-fetched as these ideas may sound, this is one of the few ways to act; desperate times need desperate measures or then let’s accept our fate.



There are also some other realities that we must face. Very few are taking the magical three letters of ESG (Environmental, Social and Governance) seriously. In a recent conversation with a group of private equity players that have many multilateral financial institutions as their limited partners, the senior executives made very controversial statements like: ‘if we are faced with a choice between ESG and profits, we will choose profits every time’. ESG is therefore a buzzword in our world of reporting; everyone is going through the motions of ticking the boxes, but the true intention remains money over everything else. We have all the management guru’s and consulting companies and the big four preaching ESG and the importance of purpose; the reality is that the gap between intention and reality is continuing to increase.



I cannot but reflect on the words of former US President Barack Obama: “We are the&nbsp;first generation&nbsp;to feel the effect of climate change and the&nbsp;last generation&nbsp;who can do something about it.” Let’s not procrastinate and make it a true intent to start galvanizing resources towards fixing our problems before it’s too late.

‘Desperate Times Need Desperate Measures Or Then Let’s Accept Our Fate’

WITH THE Great Resignation beginning to fade into the background, a new kerfuffle is brewing and threatening workplace productivity.



Rather than moving onto another employer, some workers are choosing to stay put and “quietly quit” – putting in minimum effort while on the job so work does not take over their life.



While quiet quitting might offer relief to beleaguered bosses whose workplaces have become revolving doors in recent times, those who have decided to power down will deliver a new set of challenges.



The quiet quitting movement has sailed peacefully into our workplaces at a time when employers are doing everything possible to hold onto even the most average performers – and the chances of getting fired are lower than they have ever been.



The name might conjure up images of a worker shooting off a quick resignation email to the boss and silently slipping out the door.



Yet “quiet quitting” is best described as quitting a job without actually leaving.



Quiet quitters have made the conscious decision to dampen their enthusiasm for the job and instead take a bare-bones approach to getting their work done.



Quiet quitters leave the office right on time, refuse to play “catch-up” during the lunch break, avoid answering calls after hours and stay well away from their overflowing inboxes once they have clocked off.



While some are quick to accuse “quiet quitters” of being slack, those adopting a minimalist approach to their work argue they attend dutifully to all agreed tasks associated with their role.



What is missing are their attempts to excel, be innovative or extra helpful.



Being a quiet quitter means doing just enough work to pull your weight, justify a pay cheque, and remain employed.



While quiet quitting is nothing new, its recent surge in popularity is part of the broader pandemic fallout with many now wanting to live to work – and no longer work to live.



Quiet quitters are united by the belief that being too dedicated to work means they will miss out on other important things in their lives.



Many have become acutely aware that despite working long hours or overachieving, going above and beyond is not necessarily recognized or rewarded.



Some workers have already run themselves into the ground so being less committed forms part of their rehabilitation. Others have scaled back as a preventive strike against looming burnout.



Those in the process of seeking a new employer might also mentally check out since they do not see the need to give all of themselves to an organization they do not see a future with.



To some bosses, having a worker is better than having no worker at all – even if there is less commitment on display.



Others in charge recognize that quiet quitting will bring with it a raft of new challenges including high levels of job dissatisfaction, disengaged staff, uneven workloads across employees and declining productivity.



Those seeking to quietly quit should be aware that a move to achieve a better work-life balance will not go unnoticed, particularly if they are perceived to be in a downward spiral after previously over-extending themselves.



In that situation, quiet quitting might be viewed as the onset of serious laziness, disengagement or an extreme lack of commitment.



On top of that, the shift to becoming a quiet quitter is fraught with other hazards.



It is often difficult for quiet quitters to judge how far to downgrade to reach – but not undershoot – basic workplace expectations, they are likely to forgo promotional opportunities and those who are inherent people-pleasers will find it tough to say “no” when asked to do something extra.



This is not to say every worker should feel compelled to go above and beyond at work until they drop to the ground.



But the key to executing a successful quiet quitting manoeuvre is communication.



A discussion with the boss about the reasons for taking a backseat role might end up being the difference between keeping a job and being shown the door – particularly down the track when the employment market frees up again.



As for those who prefer to shy away from those types of conversations, it might be a sign they would actually be better off quitting.



After all, once you start a new job it is much easier to set up expectation from the get-go – removing any need to quietly quit down the track.



BY GARY MARTIN Professor Gary Martin is Chief Executive Officer of the Australian Institute of Management WA

Executive outside office with office equipment

After The Great Resignation Comes The Quiet Quitting Trend: How This Is Affecting Productivity 

AS ALL COUNTRIES CONTINUE to deal with meteoric inflation caused mainly by high energy prices and the disruption of supply chains, the conflict in Ukraine continues unabated. There is food and water shortage, fires, droughts in places, floods in others, unemployment, and rising prices of essential goods just to name some of the calamities being faced by almost everyone in the world today. 



The developed world can sustain the hardship in the short term but if the root cause of the issues is not dealt with expeditiously, there will be far-reaching consequences for everyone. More than anyone else, the real victims of the current brutality are the people of Ukraine, especially children, the elderly and the vulnerable. I have been listening to the numerous debates on television about the aftermath of this catastrophic event in history and worry about the basic understanding that our learned analysts have on the repercussions of a country devastated by conflict. They should simply ask the people of Iraq or Afghanistan who have had the most recent experience of conflict; a generation of development is going to pass them by. War is the surest way to go back to the stone ages and the consequences of this carnage will linger on in the form of hatred that will not only foster generational discord but will have societal degeneration resulting in more sociological disorder.



It is commonsense that for any dispute to be resolved, the leaders of the conflicting sides must be brought together. The word ‘parley’ is a noun that has been used through time immemorial to have a direct dialogue between adversaries to settle disputes. Intermediaries may strengthen you morally, spiritually, legally and in the case of conflict may provide you armaments to defend yourself, but they cannot ever find a solution to the dispute. More than anything, intermediaries always have different interests. The effort of global leaders from the beginning has been and should remain to bring the two leaders (Russia and Ukraine) into a room to thrash out the issues and arrive at a solution. Rather than look at broader issues of the EU and NATO, the parties should look at what is better for them as neighbors and erstwhile allies of the cold war.



As more blood is shed, every continuing day of the war will result in the hardening of positions of both sides and the end will be in the systematic destruction of decades of development. Arming Ukraine is not the answer as their stronger adversary is not going to be silenced through retaliation. Each building and bridge that is destroyed will have to be rebuilt and every citizen displaced will need to be provided for. No third party will do this for Ukraine. The leaders in Ukraine should know that there are no free lunches, and irrespective of outcomes they will eventually be burdened by so much moral and material debt that they will never be able to come out of the shackles of infinite financial bondage. More than anything else, in paying these debts, Ukraine will become an agricultural and mineral hinterland for the extended boundaries of a few nations that are fueling the war. The choice today is nothing other than between the ‘devil or the deep blue sea’.



Sanctions are not an all-inclusive answer to this conflict. The impact of sanctions is being felt not just by Russia but by all countries in the world but mostly the EU. Most countries are far removed from the problem and remain helpless spectators. There are world leaders who have negotiated with and who Putin will listen to, and it is time that leverage is used for the neighbors to settle this dispute in a bilateral discussion. The UN Security Council (permanent and non-permanent members) with the participation of the UN Secretary General must demand a ceasefire and ask the leaders to meet in a neutral territory and resolve the issue. Both sides will need ‘Stand-Still’ assurances during this period, and these must be provided with integrity. A sensible solution is possible, and this route must be expedited to cool down temperatures and stop this senseless conflict.



On another note, as the temperatures start soaring during summers in the Middle East, my wife and I visited the UK and Switzerland this year during July/August. Europe has always been the haven for the summer holidays to get respite from the high temperatures in the Middle East. Not any longer and this is not a one-off occurrence. It didn’t matter whether we were in London, Edinburgh, Geneva, Lausanne, Crans Montana or Zermatt, it was difficult to escape the unusually piercing heat in the afternoon. What we are seeing now is going to become a way of life for Western countries. Climate change is sadly irreversible and countries in Europe must adapt to this new reality as none of the countries are prepared for the scorching heat.



In this context I am reminded of my tenure at the Antarctic during my military career. I was selected, in 1987, as part of the seventh scientific expedition to start building India’s second permanent base in the Antarctic at a place called Maitri (latitude 70.76 South, longitude 11.73 East) in Queen Maud Land. The experience was one of the greatest adventures of my life as we toiled hard through blizzards and whiteouts for four months to finish, despite all the elements, the foundation work of the new station. What I am reflecting on today is not so much about the back-breaking work that we did there but what I saw from an ecological disaster perspective and the sad realities we are faced with today because we failed to act in time. Even as far back as 1987, scientists had flagged global warming and the need to course-correct. Icebergs the size of large islands were breaking off from the Antarctic continental shelf and floating into the Southern Ocean. The protective ozone layer was being gradually disseminated and the impact of ultraviolet radiations was predicted to have a far-reaching impact on rising temperatures and sea levels.



As a quick recap, the continent of Antarctica is 98% covered by ice that has an average thickness of 2.5 kilometers and is the largest reservoir of fresh water in the world; holding 70% of global fresh water. Hypothetically, if this and the ice in the polar region of the Northern pole melts, the sea levels across the world will go up by 230 feet, submerging every coastal city on our planet. This is an alarming thought. Furthermore, it is projected that by the year 3000, ocean levels around the world will go up by 13 feet. If you think your grandchildren will benefit from beach-front properties that you have willed them, think again!!



When I returned from the Antarctic and after leaving the forces in 1988, I started speaking at various events regarding the need for a drastic reduction in our Chlorofluorocarbons (CFC) and Hydrofluorocarbons (HFC) emissions and single-use plastics; my words fell on deaf years. In the following years, I started reaching out to high schools in Dubai to talk about the future of, and the need to preserve and safeguard, our planet. The simple analogy is “how will your body survive if your skin is peeled off”. The school children were more attentive and responsive to the discussion as they perhaps understood that they would likely see the impact of global warming within their lifetime. This was 34 years ago. What we have seen during this period is the gradual depletion of the ozone layer which is now becoming more blatant and harsher as we are exposed to the changing weather patterns arising from global warming. We have seen artificial intelligence (AI) rendered images of future cities by 2050, but no one is paying attention to the acidification of our oceans and the impact on marine life by 2050; an incidence of dying fish owing to possibly pollution have come up this year in the Oder River which borders Poland and Germany. It is flagged as an environmental and ecological disaster. This is just the start of the destruction of marine life, whether by drought or pollution, which will have a material impact on the world. While the subject is being dealt with, the sad reality is that the pace of change may never catch up with the impending crisis.



Coming closer to home, things on the African continent remain extremely volatile as well. The impact of global events always has a knock-off impact on African economies and it’s no surprise to see the repercussions of supply chain disruptions and food shortages in different parts of Africa. The short-term issues will continue to be vexing but my long-term prognosis on the future in Africa remains positive. This was validated by a breakfast meeting that I had a few weeks back in Johannesburg with some extremely enterprising individuals. The meeting was hosted by a long-time friend and outstanding businesswoman, Sneha Shah, who was formerly the Managing Director of Reuters Africa and has just finished her most recent assignment as the Managing Director of Business Accelerator at the London Stock Exchange Group, based in New York. Most of the attendees were young business leaders who were focused on relooking at ‘purpose’ and wanting to make a meaningful impact on the future of Africa.



My generation has made many unforgivable mistakes, but I am inclined to believe that our younger leaders have a better understanding of what the future needs. Their focus was clearly on responsible investing considering diversity, green energy, and transformation. It was heartening to hear the statistics on incremental growth in FDI into Africa and the interest from a lot of pockets of capital to invest into bankable transactions in Africa. I was also delighted to meet the founder of the Harambeans; an organization developing the younger generation of innovators and entrepreneurs in Africa. Despite the gloom at a macro level, there is much hope for the future of our continent.



Despite all the gloom, I am a die-hard optimist and believe strongly in the words of Nelson Mandela: “I am fundamentally an optimist. Whether that comes from nature or nurture, I cannot say. Part of being optimistic is keeping one’s head pointed toward the sun, one’s feet moving forward. There were many dark moments when my faith in humanity was sorely tested, but I would not and could not give myself up to despair. That way lays defeat and death.”

From Ukraine To The Antarctic And Africa: What The Future Needs

By Deepali Khanna and Siddharth Chatterjee



The world today faces a future that is in peril. Our challenges have become more complex and interconnected, as we see the impacts of the COVID-19 pandemic, an uneven economic recovery, a climate emergency, growing inequalities, and an increase in conflicts globally. This year also marks a grim milestone, with <a href="https://www.unhcr.org/refugee-statistics/insights/explainers/100-million-forcibly-displaced.html" target="_blank" rel="noreferrer noopener">over 100 million people forcibly displaced</a>.&nbsp;



These events accompany increasing division in the community of nations which threatens to push the achievement of the Sustainable Development Goals (SDGs) further out of reach for the Global South.&nbsp;&nbsp;



Adding to these crises, rising food and energy prices driven by the conflict in Ukraine, could push 71 million people into poverty, <a href="https://www.undp.org/publications/addressing-cost-living-crisis-developing-countries-poverty-and-vulnerability-projections-and-policy-responses" target="_blank" rel="noreferrer noopener">according to UNDP</a>. The Global South, typically comprised of countries in South America, Africa, Asia, and Oceania, was already grappling with economic issues now exacerbated by the triple planetary crisis.&nbsp;



With limited resources, high vulnerability, and low resilience, people in the Global South will bear the brunt of our inaction, on climate and elsewhere. Solely depending on external aid from the Global North or G7 countries cannot be the panacea. Here, countries of the Global South can empower themselves and combine efforts to achieve sustainable development.&nbsp;



Cooperating to catalyse change&nbsp;



In the face of global threats, international cooperation remains vital, as highlighted by the International Day for South-South Cooperation. South-South cooperation seeks to complement traditional development models by throwing light on the transformations needed to deliver on priorities, including the SDGs. It offers possible solutions from Global South to Global South.&nbsp;



Countries of the Global South have contributed to <a href="https://www.un.org/development/desa/en/news/intergovernmental-coordination/south-south-cooperation-2019.html" target="_blank" rel="noreferrer noopener">more than half of global economic growth in recent times</a>. Intra-South trade is higher than ever, accounting for over a quarter of world trade. It is time to further leverage these partnerships in the development space.&nbsp;&nbsp;



We already saw this while many countries were trying to obtain COVID-19 vaccines. Citizens of low and middle-income countries faced systemic discrimination in the global COVID-19 response, leaving millions without access to vaccines, tests, and treatments. India <a href="https://www.mea.gov.in/vaccine-supply.htm" target="_blank" rel="noreferrer noopener">sent over 254.4 million vaccine supplies to nations across the world</a>, under Vaccine Maitri – a vaccine export initiative.&nbsp;&nbsp;



Likewise, China has supplied <a href="https://www.fmprc.gov.cn/mfa_eng/topics_665678/kjgzbdfyyq/202202/t20220226_10645851.html" target="_blank" rel="noreferrer noopener">over 200 million doses of vaccines to the COVAX Facility</a>, in addition to providing millions of dollars in medical supplies to countries in the Global South, including in Africa, throughout the pandemic.&nbsp;



Informing partnership models with Africa &amp; China&nbsp;



To advance development priorities, partnerships need to be rooted in shared interests that can lead to shared gains, as seen in traditional development models and assistance from the Global North. This dynamic needs to be at the core of the China-Africa relationship as well.&nbsp;&nbsp;



China, an economic powerhouse, has the potential to advance development in the Global South, especially in Africa, by bringing its experience, expertise, and resources to bear, and its assistance must advance both its interests and those of the countries where it operates.&nbsp;&nbsp;



Investments in shared goals are reflected in <a href="https://www.fmprc.gov.cn/mfa_eng/wjb_663304/wjbz_663308/2461_663310/202208/t20220819_10745617.html" target="_blank" rel="noreferrer noopener">efforts by China</a> to improve public health in Africa, including in the construction of the Africa Centers for Disease Control and Prevention in Ethiopia, and in clean energy, through projects such as the Kafue Lower Gorge Power Station in Zambia.&nbsp;



China <a href="https://www.brookings.edu/blog/africa-in-focus/2021/12/27/an-examination-of-the-2035-vision-for-china-africa-cooperation/" target="_blank" rel="noreferrer noopener">promises to invest US$60 billion</a> cumulatively in Africa by 2035, directed at agriculture, manufacturing, infrastructure, environmental protection, and the digital economy. This is most welcome, and those planned investments must answer the needs of the local economies and societies.&nbsp;



What works in one country may not work elsewhere, but true collaboration allows for learning from mistakes and sharing successes. This is where the UN’s expertise can ensure cooperation is demand-driven, in line with local expectations and needs, national development priorities, and relevant international norms and standards. &nbsp; &nbsp;



Platforms like the Forum on China-Africa Cooperation (FOCAC) can work to improve that essential partnership. This mechanism has identified shared priorities like climate change, agriculture/food systems, global health, and energy security, among others, between China and Africa.&nbsp;&nbsp;



For the first time in FOCAC’s history and with support from The Rockefeller Foundation, the UN in China is engaged as a strategic partner in this bilateral mechanism between China and Africa. The UN in China is continuing similar efforts in close consultation with relevant counterparts, including the China International Development Cooperation Agency.&nbsp;



For The Rockefeller Foundation, it is a nod to its legacy in China dating back to 1914, rooted in redesigning medical education to improve healthcare and its current priorities to advance Global South collaboration, especially in public health, food, and clean energy access—all global public goods.&nbsp;



Beyond the Global South: Action Together&nbsp;



With less than eight years to achieve the SDGs, truly international cooperation is our only hope. Emerging trends in technology and innovation can get us there, along with enhanced South-South cooperation efforts. But doing so requires us to “flip the orthodoxy”, as UN Deputy Secretary-General Amina J. Mohammed advised.&nbsp;&nbsp;



The Ebola crisis is an example of where global cooperation, including South-South cooperation, enabled Sierra Leone to defeat the disease’s spread, <a href="https://www.theguardian.com/world/2014/oct/12/cuba-leads-fights-against-ebola-africa" target="_blank" rel="noreferrer noopener">notably through a brigade of 461 health workers</a> sent to Sierra Leone to support their overburdened system. Later, other countries made similar efforts to support Sierra Leone and nearby countries, such as Guinea and Liberia. This example shows the potential of South-South cooperation, but also triangular cooperation and North-South partnerships. Public-Private Partnerships (PPPs) are another mechanism for financing and capacity building.&nbsp;&nbsp;



This can be seen in Kenya, where the Government and the UN System convened an <a href="https://www.huffpost.com/entry/realizing-kenyas-vision-to-achieve-universal-health_b_59bd5965e4b0390a1564de1c" target="_blank" rel="noreferrer noopener">SDG Partnership Platform</a> with companies such as Phillips, Huawei, Safaricom, GSK, and Merck. The outcomes include a downward trend of maternal and child mortality in some of the country’s most remote regions. Similar PPPs can hold promise in unlocking global progress on the SDGs.&nbsp;



Today, while we face a more volatile world, the spirit of South-South cooperation shows a core value that we need: solidarity. As UN Secretary-General António Guterres said, “The last two years have demonstrated a simple but brutal truth &#8211; if we leave anyone behind, we leave everyone behind”.&nbsp;



<a href="https://www.rockefellerfoundation.org/profile/deepali-khanna/" target="_blank" rel="noreferrer noopener">Deepali Khanna</a> is Vice-President of the Asia Region Office at The Rockefeller Foundation. <a href="https://china.un.org/en/about/about-the-resident-coordinator-office" target="_blank" rel="noreferrer noopener">Siddharth Chatterjee</a> is the United Nations Resident Coordinator in China.&nbsp;

Screenshot 2022-09-12 at 08.41.07

United We Stand To Achieve Sustainable Development

It didn’t take long for Russia’s war in Ukraine to impact Africa. Already grappling with soaring inflation and still recovering from the Covid-19 pandemic, Africa now faces a shortage of at least 30 million metric tons of food —especially wheat, maize and soybean imported from Russia and Ukraine.



Fertilizer price hikes of over 300% make it increasingly difficult for African farmers to grow enough wheat, maize, rice and other crops. A growing number of people in Africa can no longer afford the price of bread.



Africa is struggling to mitigate a conflict-induced famine that could throw some 30 million Africans into catastrophic levels of food insecurity. It could deepen economic stress, and political unrest. With millions struggling to buy food, fuel and fertilizer, anti-government protests are a real possibility.



From the onset, the African Development Bank realized the strategic need to tackle the devastating impact of the war on Africa’s food security. It was important to prevent unrest and even more human suffering. In May, the Bank established a $1.5 billion African Emergency Food Production Facility. In less than 60 days, it put into action $1.13 billion-worth of programs under the facility, and across 25 African countries. Half a dozen more programs are expected to get underway by September as more governments apply to the facility.



The African Emergency Food Production Facility will deliver climate-adapted, certified wheat and other staple crop seeds — and increased access to agricultural fertilizers — to 20 million farmers. Over the next two years, the facility will allow farmers to produce 38 million additional tons of food — a 30% increase in local production —worth an estimated $12 billion. To facilitate even greater global investment in Africa’s agricultural sector, the facility will also support enhanced governance and policy reforms.



While this is a strong start, Africa needs the international community to fill a $200 million financing gap for the facility. President Joe Biden has endorsed the African Emergency Food Production Facility, and this is welcome support, as is his support for the African Development Bank’s Africa Disaster Risk Financing Program.



To help African governments pay drought and flooding insurance premiums and respond better to food insecurity caused by climate change, the Disaster Risk Financing Program, is a much-needed futures element of the Facility.



To boost agricultural production in Nigeria, Tanzania and Côte d’Ivoire, the Japan International Cooperation Agency has recently partnered with the African Development Bank to co-finance African Emergency Food Production Facility programs. International development agencies and a growing coalition of nations are also supporting the Africa Emergency Food Production Facility.



Launched in 2018, the African Development Bank’s successful flagship Technologies for African Agricultural Transformation (TAAT) program is delivering technologies in the form of climate-resilient crop varieties — seeds that are resistant to drought, high temperatures or pests, for example.



In Ethiopia, thanks to TAAT-funded, heat-tolerant wheat seeds, the country boosted cultivated farmland from 50,000 hectares to 675,000 additional hectares in just four years. TAAT’s climate-smart seeds allow the wheat crop to thrive in Ethiopia’s arid, lowlands where ordinary wheat varieties do not generally do well.



More locally grown wheat has reduced Ethiopia’s dependence on wheat imports. By embracing TAAT, the country did not need to import wheat, for the first time, this year. With the Bank’s continued support, Ethiopia will become a wheat exporter in 2023. It will export more than a million metric tons of wheat to Kenya and Djibouti. That is enough food to feed 10 million people for 12 months.



The African Development Bank knows what works.



TAAT has already reached 12 million farmers. We are calling on our international partners and governments to join us as we scale up TAAT through the new African Emergency Food Production Facility.



Our commitment to helping Africa grow more food by adapting to climate change has earned the support of UN Secretary General António Guterres, who recently said the Bank’s allocation of half of its climate finance to adaptation is the standard for international development partners to follow. The US Department of the Treasury has endorsed the African Emergency Food Production Facility as part of the International Financial Institution Action Plan to Address Food Insecurity — a shortlisted guide of programs for donor nation consideration.



Africa does not need food aid to feed itself. Africa needs right investments and seeds in the ground.



The Africa Emergency Food Production Facility will provide an immediate solution to twin global challenges of conflict and climate change, and play immediate, medium and long-term roles in growing Africa’s agriculture sector as a foundation for resilient African economies.



Policy reforms will help trigger structural reforms needed for market-based input distribution and to produce crops more competitively.



Today and well into the future, the African Development Bank is delivering a proven plan to unlock Africa’s food production potential and see Africa become a breadbasket to the world.



Dr Akinwumi A. Adesina – The writer is President of the African Development Bank Group

PRST Adesina

New African Emergency Food Production Facility Aiming To Avert A Food Crisis On The Continent

THE LAST THREE MONTHS WERE largely dominated with negativity; it started with the conflict in Ukraine that had a cascading impact on food shortage, supply chains, equity markets, commodities and currencies. The vulnerability of the crypto market was exposed as billions of dollars of value disappeared into the abyss of the dark web; a domain of which I only have a peripheral view. 



When the world of Non-Fungible Tokens (NFTs), crypto currencies and the ubiquity of the blockchain was becoming fashionable, I nostalgically reflected on my late father’s forlorn look when he struggled with what was the start of the internet era in the late 1990s. He was getting to 70 at that time and right until he passed in 2017, and despite his two engineering degrees and numerous doctorates, he grappled to align his education and experience with the world of internet.



The transition between his generation and mine was relatively gradual. Our generation (Boomers) also grew up using log tables, the slide rule (analog computer) was just getting phased out and calculators had just surfaced. From a consumer perspective, nothing earth-shattering happened between the 1960s and 1980s other than the travel industry that was revolutionized by the commercialization of aircraft and satellite television; so while we could reach places faster and watch color TV at home, we were quite satisfied with the linear pace of life including but not limited to the regular postal service that took 15 days to get a reply to a letter or travelers cheques when we traveled as credit cards didn’t exist.



In comparison, I was in a lift with three other people the other day and each one was frantically messaging as though their life depended on a response that could not wait until after disembarking from the elevator. I find it very difficult to even imagine the world we grew up in.



Perhaps I feel the same way as my father did, as the adaptation of technology and the evolution of consumerism has never been faster than today. As I turn to my son (Gen Y) looking for answers, he sagaciously and patiently explains to me where he sees the world going with blockchain, artificial intelligence (AI) and virtual reality (VR). He talked about DALL-E, an AI tool that facilitates the digital visualization of text and the fact that most repetitive tasks currently being performed, including those by accountants and lawyers, will be delivered through AI. But then, with his growing wisdom, he readily admits that the generation (Gen Z) after his has already started talking a language that he will soon too, not understand. He is 34. The irony now is that his one-year-old daughter, in her infancy, somehow knows that the cell phone gets everyone’s attention. I can’t even comprehend what she will be teaching him in 20 years. This rapid evolution is inevitable.



If history be the shepherd of what we witnessed with the internet bubble recovery post-2001 then one can perhaps make an educated guess that the current correction from the crypto bubble of 2022 will result in a more measured world where the learnings will be factored into tangible developments on the web and not just the mindless purchase of digital cartoon characters that were bought and sold for thousands of dollars validating the ‘greater fool theory’. The fools holding the baby will undoubtedly blame everything other than greed and portray themselves as the trailblazers who turned into the proverbial sacrificial lambs. The ‘hindsight 20/20’ pundits have already started talking about dollar cost average and consolidating positions; we have heard this every time the markets have corrected. If we believe in economic cycles, then the carnage of the current correction shall also pass until the next bubble. But the markets are not our pressing issue.



The real issue we continue to deal with is the pressing conflict in Ukraine and the realignment of nations. It will take decades for the world to completely redefine supply chains based on altered geopolitics. In the meantime, the global recession caused by this senseless conflict is imminent. There is a rise in prices of everything and the common man has nowhere to go. Consequently, there are strikes in all parts of the world for wage correction. These matters will be further exacerbated in the winters when there is a shortage of oil and gas supplies to Europe. Thousands have died, millions have been displaced and rendered homeless, billions of dollars of assets have been destroyed and the world has no answers. I continue to question the relevance of the permanent status given by the UN Charter to five sovereign states – China, Russia, USA, UK and France. When those who are custodians of good order perpetuate crimes against humanity (and this is not just Russia); who must call them to order?



This is at the root of the problem and until the Charter is re-written and takes away the veto rights from these five, the world will remain hostage to the whims of these nations; most of whom have lost their high ground to give moral lessons to the rest of the world. What is the pathway to stop 



this abuse of dominance while the world watches in shock and despair?



These concerns have been resonated by our business leaders in South Africa, where we are facing challenges of our own. The concerns are at many levels. The first relates to the economic future of the continent, both as an immediate concern on shortages and perhaps a wake-up call for policy-makers to rapidly incentivize indigenization of every industry vertical to achieve self- reliance. It is abundantly clear that Africa’s problems must be solved by its own people, and this will need a concerted effort from governments and business to ensure that we are insulated from global events as much as possible.



The future energy and food security of the continent is an important imperative as these shortages will see prices skyrocket and intensify poverty to painful thresholds that may result in civil unrest. I engaged with several policy- makers and the requirements are very clearly understood; the problem lies in the implementation.



The implementation rests largely with a strong administrative service or bureaucracy. The bureaucracy remains largely ineffective both on account of unqualified people running the departmental functions, too much interference from the politicians on the appointment of senior functionaries, and largely because good people don’t want to serve in a toxic environment and have left the service. The continuity and consistency of policy can only come from a strong bureaucracy. Strengthening this service based on meritocracy is a critical need in most African countries including South Africa.



The other anxiety is regarding the state of political play in South Africa. As the continent’s leading economy, South Africa is undoubtedly heading into a crevasse of political turbulence. Saving a miracle, the (un)surprisingly bankrupt African National Congress (ANC) is likely to drop below 51% leading to an era of fragmented provincial politics, the emergence of new parties and the era of coalition governments. While this will bring uncertainty, it will finally usher the much-needed accountability and a drive towards a path of true service to people. This fate is now accepted by a large number of people in South Africa including staunch ANC stalwarts who believe that the ANC has now outlived its charter and must go through reincarnation with a relevant doctrine to serve its people. This process is inevitable and necessary for South Africa as this is the only way that the country will come out of the downward spiral that it has gone into for the last decade or so. The fragmentation has already started with many political parties emerging and many more on the horizon. Some have a single agenda and that is to topple the ANC at any cost but eventually, the country needs a manifesto beyond superficial differences and move forward on a path to social and economic recovery.



But all has not been doom and gloom in the last few months. The business community in Africa has been vibrant and playing their part in keeping the wheels of prosperity in motion. It was time for us to celebrate African business leadership once again and on June 3 2022, after being subdued for two years (because of Covid), we decided to host the All Africa Business Leaders Awards (AABLAs) as an in-person event.



After much debate, we decided to organize and celebrate the tenth milestone AABLA event in Sun City (in South Africa’s North West province). Despite a two-hour drive from Johannesburg, and as validated by so many of our distinguished guests, it was a befitting decision. It was a memorable evening celebrating Africa’s most successful business leaders at one of the finest destinations in South Africa. We had some great acceptance speeches from formidable leaders such as Naseem Lahri, Shirley Machaba, Mxolisi Mgojo and Reuel Khoza.



We had another reason to celebrate. On June 1 2022, CNBC Africa completed 15 years of broadcasting. It was a dream that my partner Zafar Siddiqi and I had when we launched this amazing brand in Africa with the vision to change the negative perceptions of the African continent. Fifteen years on, we pride ourselves as being the most comprehensive business news network on the continent. Through all the disruptions and challenges, we have prodded along slowly but surely with some of the most talented members of the ABN family led by Roberta Naicker, Sid Wahi, Godfrey Mutizwa, Jill De Villiers, Renuka Methil, Jean Landsburg, Thameshan Sooriah, Denham Pons and Sue Gounden making a difference to the media landscape through responsible, timely, credible and comprehensive reporting.



This milestone, for me, was perhaps the most nostalgic and valuable toast.



As we start Women’s Month in South Africa, there were many other major milestones that I discovered in the past few weeks. The most satisfying was to see progress in diversity and equality within the business community in South Africa. Noteworthy was the earlier appointment of Nolitha Fakude as the first female President of Minerals Council South Africa in its 131-year history, Dr Nombasa Tsengwa as the first woman CEO to lead Exxaro, Nonkululeko Nyembezi as the first non-executive Chairman of the Standard Bank Group and Shirley Machaba as the first black woman CEO of PwC Southern Africa; these are just a few examples of the recognition of excellence of women in the workplace and to see that despite the many other flaws, South Africa is keeping pace with inclusivity.



In the words of Kofi Annan: “Gender equality is more than a goal in itself. It is a precondition for meeting the challenge of reducing poverty, promoting sustainable development and building good governance.”



Let us celebrate inclusion.

Moving Forward On A Path To Social And Economic Recovery

The Ukraine crisis has compounded global problems, which started with United States’ sanctions on China. The pandemic, economic recovery and now the Ukraine factor have unsettled the world. The Ukraine crisis is not of the making of any of the developing countries, yet we are all to face its consequences.



There is an increasing securitization of the global order, rather than pursuit of functional agenda of trade, climate, public health and the like; countries are being forced to delink from Russia. Summits like the Quad, EU, NATO, G7 and BRICS have followed this trend. There are many summits though ostensibly they are to create common agendas.



Developing countries are constrained now, since we have to deal with the realities of unilateral sanctions not under United Nations auspices. We are asked to swear by the UN Charter but then the bigger powers ignore it at will.



The US-China rivalry which troubles ASEAN (Association of Southeast Asian Nations) has spilled over into a revised US-Russia rivalry. The world is cleaved again. Strategic autonomy and a desire for a multi-polar world are the best options for the countries in the middle.



Periodically we are promised the benefits of globalization, of free trade, of new financing for green economies and for infrastructure. Yet when the time comes, developing countries who invested in globalization see the benefits shrink depending on the priorities of the developed countries. The World Trade Organization (WTO) meeting did not meet the good intentions in the various summit documents.



Currently, supply chains are in vogue. These include security supply chains and the emergence of the Quad (Quadrilateral Security Dialogue) and AUKUS (a trilateral security pact between Australia, the UK, and the US) and a more robust Indo-Pacific policy that show that challenges to international rules will be met.



On economic issues, no more is labor arbitrage and cheap cost of production the only concerns for international business: the reliability of supply and dependability of the country as part of a supply chain are important factors.



In this, India and developing partners like ASEAN and Africa under the African Continental Free Trade Area (AfCFTA) must look more to each other, to enhance regional supply chains. Japan and Germany can play a role in a Chair multipolar order. Whatever the dependence of all of us on China or Russia for that matter, it is time to find alternatives among us. Discover ways to prevent supply chains from disruption and the benefits of globalization promised to us may be better served. No country can escape from the reality that China and the US are major economic partners. Choosing among them is an unfortunate call. Neither should they impose their preferences on our development priorities.



A higher level of economic integration, whether through the WTO or through the COPs, has not brought about better harmony globally. Neither has the BRI (Belt and Road Initiative). The fragmentation underway now will not be easy to manage. Just as we prefer a strategic multipolar world, we have better chances of an economic multipolarity with several supply chains of more dependable countries.



For pharmaceuticals, vaccines, agricultural products and food grains India is well placed as a supplier. Six ASEAN countries and several African are importing from India. We need similar assured supplies for energy, fertilizers, components for solar panels, for rare earths… These need diversity to prevent disruption by natural disasters, internal disruption or sanctions by rivals of supplier countries



This implies that other countries should work together in a multipolar world so that everything is not determined only by a few countries. In this multipolar world, Japan, Germany, ASEAN and India all



play a role. We need to make sure that the world order will not be utilized by a few countries only for their own benefit. The rules agreed for all will be followed, and not changed when it suits them.



To deal with this, we need better communication and cooperation among the other poles of the global order so that a unipolar or bipolar world could be constrained.



There have been several summits recently. India participated in the BRICS summit followed by the G7 summit. In between was the Commonwealth Summit. A NATO summit followed. Later this year, there will be the East Asia Summit, the ASEAN Summit and the summit of the Asia-Pacific Economic Cooperation. An SCO Summit is in September.



The G20 summit will be held in November. The churning in the world due to the pandemic, the requirements of post-pandemic recovery, the convulsions due to the Russian invasion of Ukraine and the consequent disruption of the world economy are all being scrutinized.



Their impact is undeniable but not always predictable. The looming recession, a rise in interest rates in the US and in Europe and rising energy, food grain and fertilizer prices are all compounding the problems that the world finds itself in.



Despite these convulsions, developing countries within the G20 must come together to prevent an erosion of another multilateral body in which we are all invested. This year, Indonesia is the Chair, in 2023, it will be India and in 2024, Brazil will be the Chair.



India deftly kept abreast of the pandemic and the Ukraine crisis and despite initial criticism of its abstentions on the UN regarding Russia, it succeeded in getting its point of view understood by the G7 countries. The invitation to India to attend the G7 as a guest was a manifestation that Indian diplomacy had quietly done its work. The fact that India’s Prime Minister Narendra Modi could attend the BRICS summit with Russia and China and then go to the G7 summit showed that India, along with countries like Indonesia, South Africa and Argentina could be a bridge.



The strategic autonomy to deal with the increasing Big Power rivalry requires a path of dealing with everybody without exclusion. Since the larger multilateral organizations are not providing adequate relief to countries as a united entity there are more regional and related plurilaterals emerging. It is in out interest to remain strategically autonomous, build trust and confidence and take each decision as warranted by choice not alignment.



By Gurjit Singh – The writer is an author and former ambassador.

Russia Starts Large-Scale Attack On Ukraine

Why Developing Countries Need To Stand Together At This Moment

THE WORLD Health Organization (WHO) stated recently that we are still in the first phase of the Covid-19 pandemic. The five stages determined by WHO are ‘Pandemic, Deceleration, Control, Elimination and Eradication’.



While this projection did create debate from various groups, it’s complex to predict whether future mutations of the virus will be as severe as the Delta variant. Since it’s hard to have any certainty regarding future mutations, it’s best to err on the side of caution and remain vigilant. I believe that these phases are not mutually exclusive. Given all the expenditure on research and vaccine development, the phases will dovetail and expedite to the elimination phase and in time, the eradication phase of the virus. What is clear is that periodic boosters and the Covid-19 vaccination certificate, like the Yellow Fever card, will be an essential part of our travel documents. Despite all the underlying risks, the optimistic human mind has momentarily conquered the fear of Covid-19 as many people have boxed the virus into the category of a flu.



It was, therefore, not surprising to see that all flights out of Dubai, a global transit hub, over the last three months had extremely high occupancy. This is good for economic recovery, particularly for the tourism and hospitality sector which has seen a sharp resurgence in the first quarter of 2022. With lockdown behind us, we hurried to South Africa (SA) to take advantage of the interspersed windows of travel opportunity.



Johannesburg was, as always, full of action; the highlight was the in-person South Africa Investment Conference under the patronage of HE President Cyril Ramaphosa. The presentations were encouraging and the positivity in the conference rooms reassuring; it was a great time to catch up with old friends some of whom I was meeting after over two years. However, the speech that resonated the most with me was the keynote address at dinner by Dr Patrick SoonShiong, the South African-born scientist, entrepreneur and billionaire.



Dr Soon-Shiong’s journey is well-documented and has been a lifetime in the research and development of cancer-related Abraxane and then many other ventures including his current NantHealth and NantWorks that are focused on using his vast experience and resources to find a sustainable cure for cancer. He advocated the prioritization of healthcare in Africa, specifically building cancer centers, diagnostics and manufacturing in SA and perhaps over time, other parts of Africa. Of all the projects showcased, this one would unquestionably find financial backers including the African Development Bank that could easily underwrite the venture. 



It has to be seen whether the SA government steps up and accords approvals for expeditious implementation as this project could be a strategic pilot project that would inspire many others to follow. Another important message from Dr Soon-Shiong’s talk was his emphasis on self-reliance, particularly in the manufacturing of vaccines and medicines. Indigenization has been talked about for many years by almost all governments but the implementation ends up in vain as vested interests and unnecessary regulatory minefields prevent the setting up of sustainable projects in Africa.



In general, the continent is not short of raw materials, qualified people or money. What it lacks is research capacity, intellectual property, technology and most importantly, amidst corruption, political will and the lack of continuity and consistency in economic policy.



This gap continues to foster the export of raw material to different parts of the world with no sustainable development within the continent. What is required is a paradigm change towards indigenization not because of the opportunities as they present themselves but also because of the necessity demonstrated by recent global events.



The war in Ukraine is complex and is going to change the world in more ways than any previously known conflict. Other than the unnecessary and condemnable death and destruction that has been the immediate outcome, the economic and geopolitical ramifications are going to be far-reaching. Sadly, the lesson that has been propagated from this crisis is that countries must militarily align and spend more on defence for a safer future; the truth cannot be further from this.



It is undoubtedly every country’s mission to defend its territorial integrity but creating a war hysteria and overspending on defence is not a sustainable solution particularly for developing countries. There is far too much at stake and nations must not fall into debt traps by vested interests advocating the prioritization of defence spending over economic development.



The immediate global priority is that the war must end. Looking ahead, the realignment of power blocs will be the outcome of self-interest that will drive every nation towards making choices that suit their long-term goals. In my book, Be a Lion, I have talked extensively about ‘interdependence’ and that relationships diminish in value when there is inequitable dependence.



Developed nations are not vested into Africa and their interest could falter based on unpredictable external factors. How does one insulate against these risks of being left unaided in the time of need? The only answer is immediate diversification by prioritizing regional collaborations and creating greater interdependence.



Security in all its forms has to be derived from our neighbors and not from nations and allies so far removed that they have no interest in our long-term sustainability. The continent today has several economic blocs that include the Southern African Development Community (SADC), the Economic Community of West African States (ECOWAS), the Economic Community of Central African States (ECCAS), the East African Community (EAC), the Community of Sahel-Saharan States (CEN-SAD) and the Intergovernmental Authority on Development (IGAD). These blocs need to be further strengthened. In addition to these blocs are various trade partnerships, the most prominent of which is the African Continental Free Trade Area (AfCFTA) which came about in 2018 and the AfCFTA agreement is signed by 54 of the 55 African countries and ratified by 36.



AfCFTA could not have come at a better time for the African continent and has the right stated focus – “AfCFTA aims at accelerating intra-African trade and boosting Africa’s trading position in the global market by strengthening Africa’s common voice and policy space in global trade negotiations.”



It’s now time to start implementing various proposals and building self-sufficiency. There is absolutely nothing wrong in protecting your local markets and your people by deciding what is in your long-term interest. As we build infrastructure, industries, technology, power and logistics, the priority sector focus in Africa must be food and water security.



Africa has all the natural resources and an arable land mass; we must ensure that the continent is capable of feeding its population and then feeding the world. To entice the younger generation, there is a need to provide incentives and create an environment where the youth see the same value in agritech as they see in fintech.



There are other weaknesses that have emerged from the continuing war in Ukraine. The sanctions against Russia and its expected response has exposed the global supply chain vulnerability. To illustrate, the termination of Russian oil and gas supply can create significant disruption to the countries particularly in Eastern Europe. Switching suppliers is not as easy as it is being made out to be. Industries and refineries have been designed around certain raw material specifications; the cost and losses resulting from inefficiencies and medium-term supply will be catastrophic. On the Russian side, there is alienation from payment systems, credit cards, communications, logistics and just about everything, including but not limited to healthcare and food. As we condemn these acts, there are realities that we need to ponder over in the period ahead and implement plans to ensure that Africa is insulated from arbitrary actions that can cripple its development through over-reliance on external strengths. 



I had the good fortune to attend a seminar organized by the Schiller Institute that focused on the new security and development architecture for all nations.



The conference resonated with my beliefs for course correction and the need for a new world order. The webinar theme was around the fact that “our world is under the immediate existential threat of generalized warfare and economic destruction affecting billions of people, including the possibility of nuclear war, and thus the possible annihilation of the human species. It is therefore extremely urgent to establish a new Security and Development Architecture for all Nations, which must take into account the interest of every single nation on the planet”.



Through the various messages articulated was a profound message: “Man is the only species endowed with creative reason, which distinguishes him from all other living beings. This creative capability enables him to continuously discover new principles of the physical universe, which is called scientific progress. The fact that the human mind, through an immaterial idea, is able to discover these principles, which have an effect in the material universe in the form of technological progress, proves that there is correspondence between the lawfulness of the human mind and the lawfulness of the physical universe.



Seen from this perspective, the economy has nothing to do with monetary profit, but with the happiness of the people, in the sense meant by Gottfried Wilhelm Leibniz, i.e., that people are able to develop all the inherent potentials they have into a harmonious whole, and thus contribute to the best further development of mankind.”



The sheer brilliance of these words will resonate with every human because more than anything else, we strive towards happiness. This was further validated by an articulate Scott Galloway who ended his webinar on ‘provocative predictions’ by highlighting the most common question raised to him by audiences – “Where does one see the most investable opportunity in the post-pandemic world”? His response could not have been more profound – “Invest in your relationships and in happiness”. Your economic status has no bearing or value if at the end you do not have happiness or the unadulterated support of your near and dear ones.



In the words of the Dalai Lama: “Happiness is not something readymade, it comes from your own actions.” If the essence of life is happiness resulting from building close relationships, then why are we losing our way?

Op-Ed: Course Correction, Paradigm Shifts And A Profound Truth

By Yacine Fal



Of all continents, Africa is least responsible for climate change. It has contributed only a minute part of the greenhouse gas emissions that are responsible for the climate emergency the world faces today. Yet, Africa faces the same arduous battle as the rest of the world to tackle the impacts of climate change, and to make itself resilient to climate change.&nbsp;



Today, Africa remains one of the most vulnerable and the least climate-resilient regions in the world. This is manifest across all corners of the continent. In the Horn of Africa, millions are threatened as a historic drought looms. In the Sahel, climate change is fueling insecurity because of increasingly scarce resources. And southern Africa is experiencing lethal rain and floods. Action has never been more urgent.&nbsp;&nbsp;



These climate change-induced challenges cut across many countries and sub-regions of the continent. With improved regional integration and deeper regional cooperation, African countries could rally around collective climate adaptation solutions and accelerate a just energy transition. The regional approach would elevate the individual voices of countries and facilitate access to increased global climate finance.&nbsp;



The urgency of regional climate adaptation and climate mitigation action is critical to Africa’s future. This is why the African Development Bank is spearheading regional initiatives that intersect with climate adaptation, energy transition and sustainability across the entire continent. The Bank is integrating these initiatives into its country and regional strategies, anchoring them on its High 5 priorities and weaving them into every Bank-supported operation.&nbsp;&nbsp;



These operations encompass renewable energy, modernized transport infrastructure and logistics, industrialization and regional trade, and trade finance – initiatives all geared towards strengthening regional integration.&nbsp;



Bank financing in Kenya, Morocco, and Democratic Republic of the Congo has supported geothermal, solar and hydropower projects that are clean, renewable, and which bring electricity to underserved households and small business markets. In many cases, these investments are providing power across borders and encouraging growth in regional trade.&nbsp;&nbsp;



In agriculture, the African Development Bank is focusing on climate-proofing and modernizing agricultural systems. It is also increasing productivity. This is helping more African countries pursue sustainable practices and to graduate from subsistence to surplus economies. These efforts are tackling bottlenecks and practices that continue to cause food insecurity, displacements, and conflict.&nbsp;&nbsp;



More broadly, several African Development Bank initiatives are helping to lay an effective foundation for commodity-based regional value chains that will ensure African food security. Examples are the Bank’s Technologies for African Agricultural Transformation (TAAT) program, the Special Agro-Industrial Processing zones (SAPZs) initiative, and broader investments in physical infrastructure, logistics, information communications technology, and innovation. These initiatives are also helping to build a robust, surplus-generating, continent-wide agribusiness sector based on modern and sustainable practices.&nbsp;



As part of its strategic approach, the African Development Bank continues to collaborate closely with regional actors like Africa’s regional economic communities, African countries, and development partners to mobilize climate action and financing for the continent. The Bank’s leadership has full confidence that with all parties working together, it will achieve climate justice for Africa.&nbsp;



– The writer is Acting Vice President, Regional Development, Integration and Business Delivery at the African Development Bank Group.

Category: Op-Ed