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.”

Rakesh Wahi

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 loading="lazy" decoding="async" 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 loading="lazy" decoding="async" 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.

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