The 16th BRICS Summit commenced today in Kazan, Russia, uniting the leaders of Brazil, Russia, India, China, and South Africa, alongside new member states such as Iran and the United Arab Emirates (UAE). The summit’s agenda focuses on bolstering multilateralism and expanding the use of local currencies in intra-group trade, addressing some of the most pressing economic and geopolitical challenges facing the bloc today.



Held under the theme Strengthening Multilateralism for Just Global Development and Security, the summit, on until October 24, signals BRICS’ intention to reconfigure global governance structures in a more equitable and representative manner. The symbolic weight of holding this summit in Russia, amidst ongoing geopolitical tensions — particularly the war in Ukraine and escalating conflicts in Palestine and Lebanon — underscores BRICS’ ambition to position itself as a counterbalance to Western dominance, both economically and, potentially, politically.



Brazilian President Luiz Inácio Lula da Silva was notably absent due to a health-related issue, but he commented on the proceedings remotely. Meanwhile, South African President Cyril Ramaphosa, upon arriving in Kazan, met with Russian President Vladimir Putin to discuss mutual interests.



Highlighting BRICS&#8217; strategic importance, Ramaphosa emphasized in a statement, &#8220;BRICS plays an important role in a multipolar world, championing multilateralism, mutually beneficial cooperation, and sustainable development.&#8221;



As Gustavo de Carvalho, a Senior Researcher at the South African Institute of International Affairs, explains to FORBES AFRICA: “For most BRICS members, it&#8217;s not about replacing the U.S. dollar but about creating systems that give members options to trade, particularly using local currencies within the group.” He stresses that the BRICS agenda, while ambitious, aims to build economic resilience without severing ties to the broader global financial system.



Several key issues dominate discussions, including the integration of new members and the push for local currencies in trade. Yet, questions remain about the bloc&#8217;s ability to fully implement its vision amidst internal tensions and external geopolitical conflicts.



Local Currencies in Intra-BRICS Trade: A Practical Shift?



At the core of the summit’s economic agenda is the push for greater use of local currencies in trade between BRICS members — a move aimed at reducing reliance on the U.S. dollar. While this initiative is often misinterpreted as de-dollarization, BRICS members clarify that it is not about replacing the dollar but rather providing greater flexibility in cross-border transactions.



“It’s not about replacing the U.S. dollar outright, but creating systems that provide BRICS members the option to trade in their local currencies,” explains Carvalho. This approach aims to mitigate the risks of exchange rate volatility and external sanctions while allowing BRICS members to strengthen financial independence.



However, the path to local currency adoption is fraught with challenges. For example, Russia&#8217;s surplus of Indian rupees has already raised concerns about how currency imbalances might complicate these efforts. &#8220;There are practical limitations, especially when one country ends up with a surplus of another&#8217;s currency,&#8221; Carvalho adds, highlighting that balancing trade flows will be critical to making local currency trade viable.



In response, BRICS Finance Ministers have been tasked with preparing reports on how to advance the use of local currencies and payment platforms, following a request made at the Johannesburg Summit in 2023. President Ramaphosa reinforced the strategic importance of these initiatives, noting, &#8220;BRICS now covers 43% of the world&#8217;s population&#8230; providing opportunities to develop mutually beneficial cooperation that contributes to sustainable growth.&#8221;



Despite the long-term potential, the shift toward local currencies is expected to be gradual. The focus at this summit is on laying the groundwork for more substantive changes in the years ahead.



Iran’s Inclusion in BRICS: Geopolitical Implications



The inclusion of Iran, especially in the context of ongoing conflicts in the Middle East, adds another layer of complexity to the BRICS dynamic. Iran’s membership brings significant geopolitical weight at a time when the country remains isolated by Western powers, particularly as tensions in Palestine and Lebanon intensify.



BRICS, while not a formal political or military alliance, presents a platform for countries like Iran to engage with global powers outside Western influence. Yet, this inclusion is not without its challenges. &#8220;Geopolitical issues within BRICS tend to be divisive, making coordinated positions on specific disputes challenging,&#8221; Carvalho notes, reflecting the potential for discord over how BRICS members approach contentious global issues.



The geopolitical dimensions of Iran’s membership also raise questions about BRICS’ ability to serve as a counterbalance to Western dominance. While the bloc seeks to promote multilateralism, its capacity to form a unified stance on complex geopolitical matters — especially those involving longstanding regional disputes — remains uncertain. President Ramaphosa, however, remains optimistic, stating, &#8220;A founding value of BRICS is the shared vision of the urgent need to restructure global governance to be more fair, just, and representative.&#8221;



 Expanding BRICS



While the inclusion of new members like Iran and the UAE has been a focal point at the summit, further expansion is unlikely in the near future. Instead, BRICS is prioritizing its outreach program. The BRICS+ format, first introduced at the 2017 Shanghai Summit, allows non-member states to engage in development finance, trade, and infrastructure initiatives without full membership commitments.



Reports from BRICS Foreign Ministers on the development of the Partner Country model will be pivotal in shaping this program’s future. &#8220;While the possibility of expansion exists, it seems unlikely at this stage,&#8221; Carvalho notes, emphasizing that BRICS is more focused on refining its existing framework than rushing toward further enlargement.



The outreach program aims to foster partnerships across Africa, Asia, and Latin America, while maintaining BRICS&#8217; internal cohesion. By clarifying the roles of partner countries, the bloc seeks to expand its global influence without compromising its core mission of promoting economic cooperation among its members.



As the 2024 BRICS Summit progresses, the decisions made in Kazan will set the stage for the bloc’s future, particularly as Brazil prepares to take over the presidency in 2025.

Russian President Vladimir Putin meets with South African President Cyril Ramaphosa in Kazan

Ramaphosa Meets With Putin At BRICS 2024 In Russia: Pushing For Global Governance Reform Amid Shifting Geopolitical Tides

<h2 class="wp-block-heading" id="h-topline">Topline</h2>



An Aboriginal senator was escorted out of a parliamentary reception for King Charles III and his wife, Camila, in Australia on Monday, after yelling that he&#8217;d &#8220;committed genocide against our people&#8221; and demanding a treaty between British colonizers and Australia&#8217;s Indigenous people.



<h2 class="wp-block-heading" id="h-key-facts">Key Facts</h2>



Sen. Lidia Thorpe, who descends from several Aboriginal Australian groups, yelled at Charles at a reception hosted by Australian Prime Minister Anthony Albanese, saying, “Give us our land back, give us what you stole from us — our bones, our skulls, our babies, our people.”



She was stopped by security from directly approaching Charles, who spoke quietly with the prime minister until she was escorted out while yelling, “You are not our King,”&nbsp;<a href="https://x.com/KateMansey/status/1848199959763710154" rel="noreferrer noopener" target="_blank">now-viral videos</a>&nbsp;show.



The heckling has re-sparked online conversations about Australia&#8217;s relationship to the British crown; Australians decided in 1999 to retain then-Queen Elizabeth II as head of state (while&nbsp;<a href="https://web.archive.org/web/20050615110920/http://www.newspoll.com.au/image_uploads/cgi-lib.1278.1.1101republic.pdf" rel="noreferrer noopener" target="_blank">polls</a>&nbsp;showed a majority favored establishing a new republic, other factors, like&nbsp;<a href="https://www.npr.org/2024/10/21/g-s1-29159/indigenous-australia-senator-yells-king-charles" rel="noreferrer noopener" target="_blank">disagreement</a>&nbsp;about how a president would be elected, led to the referendum’s defeat).



Several groups, including the&nbsp;<a href="https://republic.org.au/" rel="noreferrer noopener" target="_blank">Australian Republic Movement</a>&nbsp;and Albanese&#8217;s center-left&nbsp;<a href="https://www.pbs.org/newshour/world/australia-to-remove-british-monarchy-from-new-bank-notes" rel="noreferrer noopener" target="_blank">Labor Party</a>, have advocated to transform Australia into a republic with an Australian citizen as head of state, severing its constitutional ties with Britain.



<h2 class="wp-block-heading" id="h-surprising-fact">Surprising Fact</h2>



Australia&nbsp;<a href="https://www.pbs.org/newshour/world/australia-to-remove-british-monarchy-from-new-bank-notes" rel="noreferrer noopener" target="_blank">removed</a>&nbsp;the British monarchy from its paper money in 2023, issuing new $5 bills that featured an Indigenous design rather than an image of King Charles III. The $5 bill was the last paper currency still featuring an image of the monarch. Coins in the country still picture the monarch.



<h2 class="wp-block-heading" id="h-key-background">Key Background</h2>



An&nbsp;<a href="https://www.awm.gov.au/articles/atwar/colonial" rel="noreferrer noopener" target="_blank">estimated</a>&nbsp;20,000 Indigenous residents (and 2,500 European settlers) are estimated to have died in conflicts in Australia between when the British first colonized in the late 1700s and the creation of the Commonwealth of Australia in 1901.&nbsp;<a href="https://www.npr.org/2024/10/21/g-s1-29159/indigenous-australia-senator-yells-king-charles" rel="noreferrer noopener" target="_blank">No treaty</a>&nbsp;has ever been struck between the British and Australia&#8217;s Indigenous people, and political groups are divided on how the country’s relationship with the British empire should look going forward. The center-left Labor Party of the prime minister wants to see an Australian installed as the head of state, while opposition leader Peter Dutton wants the British king&nbsp;<a href="https://www.npr.org/2024/10/21/g-s1-29159/indigenous-australia-senator-yells-king-charles" rel="noreferrer noopener" target="_blank">to continue on</a>&nbsp;as Australia’s monarch. Despite the disagreement, there hasn’t been a major push to make Australia a republic in more than 20 years (since the 1999 referendum). Thorpe is among those&nbsp;<a href="https://www.smh.com.au/national/without-treaty-incoming-senator-can-t-feel-part-of-team-australia-20200625-p55649.html" rel="noreferrer noopener" target="_blank">who believe</a>&nbsp;a binding treaty should be created to address the historical abuse of Aboriginal people, to return unused land to its original owners and to establish standalone Senate seats for Indigenous representatives. She also supports the &#8220;<a href="https://paytherent.net.au/" rel="noreferrer noopener" target="_blank">Pay the Rent</a>&#8221; campaign, which advocates for non-Indigenous Australians to voluntarily pay reparations to people from First Nations communities.



<h2 class="wp-block-heading" id="h-tangent">Tangent</h2>



Albanese, the prime minister who welcomed King Charles Monday, is an advocate for separating Australia from the British monarch. In his welcome speech,&nbsp;<a href="https://www.npr.org/2024/10/21/g-s1-29159/indigenous-australia-senator-yells-king-charles" rel="noreferrer noopener" target="_blank">he said</a>&nbsp;Charles has &#8220;shown great respect for Australians, even during times when we have debated the future of our own constitutional arrangements and the nature of our relationship with the Crown.” The premiers of the six states of Australia—who represent New South Wales, Victoria, Queensland, Western Australia, South Australia and Tasmania—all declined to attend Charles&#8217; reception Monday, which monarchists said was &#8220;<a href="https://www.bbc.com/news/articles/cg563r671zpo" rel="noreferrer noopener" target="_blank">insulting</a>.” The Australian Republic Movement requested a meeting with Charles during his visit, the Associated Press&nbsp;<a href="https://www.npr.org/2024/10/21/g-s1-29159/indigenous-australia-senator-yells-king-charles" rel="noreferrer noopener" target="_blank">reported</a>, but none appears on his official itinerary. So far the king&#8217;s visit has included a church service, two speeches, the reception and a stop to lay wreaths at the Australian War Memorial. The&nbsp;<a href="https://www.bbc.com/news/articles/c89lzznx0qpo" rel="noreferrer noopener" target="_blank">six-day visit</a>&nbsp;is Charles’s first visit to Australia since he became the monarch and the biggest trip since he started cancer treatment in February.

King Charles is seen waving the crowds before he leave the

King Charles Heckled In Australia: ‘You Committed Genocide Against Our People’

Do you think everyone should work at least one customer service or retail job in their life?



Home Depot seems to think so. The retailer will now require all its in-office and remote corporate employees to work an eight-hour shift every quarter, according to an internal memo seen by&nbsp;<a href="https://www.bloomberg.com/news/articles/2024-10-08/home-depot-ceo-orders-corporate-staff-to-work-in-stores-four-times-a-year?srnd=homepage-americas&amp;embedded-checkout=true" rel="noreferrer noopener" target="_blank">Bloomberg</a>.



Though site and client visits from corporate staff are within the normal standards of operation, quarterly requirements are a new step for the company, which makes more than $150 billion in annual revenue and employs 450,000 people. The policy’s success,&nbsp;<a href="https://www.forbes.com/sites/jackkelly/2024/10/09/home-depot-asks-corporate-employees-to-get-out-of-their-offices-and-work-8-hour-shift-in-stores/">writes senior contributor Jack Kelly</a>, will largely depend on its implementation. Poor in-store training for corporate employees could lead to inefficiencies, and if not taken seriously as a learning opportunity, it could also build resentment.



Apart from Home Depot and DoorDash, which implemented a&nbsp;<a href="https://careers.doordash.com/blog/wedash-doordash-employee-program-how-does-it-work/" rel="noreferrer noopener" target="_blank">similar program in 2022</a>&nbsp;that required corporate employees to complete at least one food delivery a month, few retailers have set requirements for “on the ground” work.



It is an unusual move, yes, but it comes at a time when rising labor activism has ignited unionization movements across industries.&nbsp;<a href="https://www.nlrb.gov/news-outreach/news-story/union-petitions-filed-with-nlrb-double-since-fy-2021-up-27-since-fy-2023#:~:text=Who%20We%20Are-,Union%20Petitions%20Filed%20with%20NLRB%20Double%20Since%20FY,Up%2027%25%20Since%20FY%202023&amp;text=From%20October%201%2C%202023%20to,the%20Agency%20received%202%2C593%20petitions." rel="noreferrer noopener" target="_blank">Union petitions</a>&nbsp;with the National Labor Relations Board have nearly doubled since 2021, and are up 27% in the last fiscal year.



Philadelphia Home Depot employees voted to unionize in&nbsp;<a href="https://www.bloomberg.com/news/articles/2022-10-12/home-depot-philadelphia-store-to-vote-on-union-in-first-for-chain" rel="noreferrer noopener" target="_blank">2022</a>, and just this year workers at&nbsp;<a href="https://www.bloomberg.com/news/articles/2024-07-27/apple-reaches-labor-contract-deal-in-maryland-union-says" rel="noreferrer noopener" target="_blank">Apple</a>,&nbsp;<a href="https://www.axios.com/2024/04/17/cvs-pharmacy-union" rel="noreferrer noopener" target="_blank">CVS</a>&nbsp;and&nbsp;<a href="https://www.cnbc.com/2024/06/04/amazons-first-us-labor-union-moves-to-affiliate-with-teamsters.html" rel="noreferrer noopener" target="_blank">Amazon</a>&nbsp;have unionized.



Happy reading, and hope you all have a lovely week!



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<h2 class="wp-block-heading" id="h-work-smarter">WORK SMARTER</h2>



Practical insights and advice from&nbsp;Forbes&nbsp;staff and contributors to help you succeed in your job, accelerate your career and lead smarter



Looking for new ways to increase your&nbsp;productivity at work?&nbsp;Here are some&nbsp;<a href="https://www.forbes.com/sites/jackkelly/2024/10/10/best-productivity-apps/">apps</a>&nbsp;that can help.



‘Your immediate work circle is enough,’ and more&nbsp;<a href="https://www.forbes.com/sites/niritcohen/2024/10/10/3-networking-myths-that-are-holding-your-career-back/">networking myths</a>&nbsp;that are&nbsp;holding your career back.



<a href="https://www.forbes.com/sites/jackkelly/2024/10/11/managers-are-glossing-over-workplace-issues-and-pushing-toxic-positivity/">What to do</a>&nbsp;if your&nbsp;manager is glossing over problems.



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<h2 class="wp-block-heading" id="h-careers-q-amp-a-tammy-sun-ceo-and-founder-of-carrot-fertility">CAREERS Q&amp;A: Tammy Sun, CEO and Founder of Carrot Fertility</h2>



&#8220;More than half of Americans get their healthcare through their jobs, and it&#8217;s an important part of how businesses are able to drive valuable business outcomes. [Providing menopausal support] is not philanthropy, it&#8217;s not do-goodery. It&#8217;s a smart business decision to invest in your women leaders and in your company,&#8221; says Tammy Sun.Carrot Fertility



Ahead of World Menopause Day on October 18,&nbsp;Forbes&nbsp;sat down with Tammy Sun, founder and CEO of Carrot Fertility, a fertility coverage program that companies can offer as a benefit, to talk about how menopause is affecting women (and men) in the workplace and how folks can advocate for increased benefits or support at work. Our conversation has been edited for length and clarity.



Carrot recently released its annual&nbsp;<a href="https://www.prnewswire.com/news-releases/new-report-reveals-millennial-workers-are-more-informed-than-ever-about-menopauses-impact-on-their-careers--and-theyre-ready-to-take-action-302262052.html" rel="noreferrer noopener" target="_blank">Menopause in the Workplace report</a>. What was one piece in that research that stood out to you the most?



One of the most surprising things for me is that about a third of Millennial women are already experiencing symptoms related to perimenopause. That is an enormous number. And upwards of 70% anticipate and believe that this is going to be a very significant workplace challenge as they move forward through perimenopause and into menopause. So the awareness, education and the de-stigmatization of this issue is contributing to our ability to really understand the depth of the problem. This data is important for us to make visible to both employees and employers that this is an issue. I’m heartened to know that more are feeling empowered to speak out about this.



Definitely. How are employees moving past this conversation between themselves and bringing it up to their employers?



I think there’s a lot of employee advocacy in this space. A lot of women are using women ERGs (employee resource groups) inside companies, and they’re bringing the topic into those ERG groups, organizing other women at work. These topics and conversations go straight up to the management team and even the boardroom [in the ERGs], so I think that is a very powerful trend that’s happening now.



What’s a piece of advice that you have for folks in these ERG groups to really be heard by management?



One of the things that holds people back from being heard is the sense that HR doesn’t care, or that it won’t really matter because ‘I’m just a single person.’ I think that’s a misconception about HR that is important for HR leaders, people leaders, benefit leaders, to react and respond to. It’s about hearing from employees about what they want because they only want to buy products and put programs in that people will actually use. So I think most people would be surprised to know that you would find a very open, receptive and communicative audience with your company’s benefit leaders. If even in that case you don’t feel comfortable bringing up the conversation on your own, if there’s not already an ERG, you can think about making a group of women at work and organizing a small group of colleagues to raise the issue together as a group. I’ve seen that work really well for menopause, but also for broader fertility benefits like IVF and egg-freezing where employees, both women and men, will self-organize and bring an issue to the benefits leader and sometimes the CEO. So don’t be afraid to approach your benefits team.



That’s an excellent point—how do you bring men into these conversations?



Yeah, men are also an important part of this conversation. It’s about advocating and supporting other women, but also themselves. I mean, men go through hormonal changes as well. And there’s issues around fertility––half of all infertility is male-related infertility. We have a low testosterone program in addition to a menopause program that supports men as they age and as their hormones change as well. And so I think it’s a really exciting time for women, but also an exciting time to make sure that we are being inclusive of men and that they have the opportunity and responsibility to engage in their healthcare. At the same time, I do think that lots of men would be willing and excited to join conversations that sponsor and promote better healthcare for women. They should want that! Because it’s better for their business. If you care about your business outcomes as a man, then you should care about how your women colleagues are being supported.



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<h2 class="wp-block-heading" id="h-touch-base">TOUCH BASE</h2>



News from the world of work



Boeing fights its union:&nbsp;After&nbsp;<a href="https://www.forbes.com/sites/siladityaray/2024/10/09/boeing-withdraws-offer-made-to-striking-factory-workers-no-further-negotiations-planned/">withdrawing its “last and final” offer</a>&nbsp;to its striking workers on Wednesday, it&nbsp;<a href="https://www.reuters.com/business/aerospace-defense/boeing-files-unfair-labor-practice-charge-against-striking-union-2024-10-11/" rel="noreferrer noopener" target="_blank">filed an unfair labor practice charge</a>&nbsp;against the union with the NLRB, saying that the International Association of Machinists and Aerospace Workers failed to bargain in bad faith.



PLUS: The aerospace firm also announced Friday&nbsp;it would be&nbsp;<a href="https://www.forbes.com/sites/antoniopequenoiv/2024/10/11/boeing-will-cut-about-10-of-its-workforce-amid-strike-and-financial-struggles/">laying off about 10% of its workforce</a>. A company spokesperson told the&nbsp;<a href="https://www.seattletimes.com/business/boeing-aerospace/boeing-layoff-plan-suggests-deep-white-collar-job-cuts/" rel="noreferrer noopener" target="_blank">Seattle Times</a>&nbsp;it would not be laying off striking employees, meaning the initial cuts could be among white-collar staff, including engineers and nonunion salaried employees across the organization. And now it’s looking to raise&nbsp;<a href="https://www.reuters.com/business/aerospace-defense/boeing-files-registration-statement-securities-stock-sale-up-25-bln-2024-10-15/" rel="noreferrer noopener" target="_blank">$35 billion in funds</a>&nbsp;via stock and debt offerings, as well as new credit.



Female leadership suffers when private equity firms invest, according to a new study by consultancy LCap of 1,424 European companies. On average, the percentage of women in leadership&nbsp;<a href="https://www.bloomberg.com/news/articles/2024-10-15/female-leadership-suffers-when-private-equity-firms-invest" rel="noreferrer noopener" target="_blank">tumbles to 16% by the end of a private equity investment period</a>, down from about 20% at the start. While the percentage decrease can be from new leadership brought in, only about 8% of new C-suite executives brought in by the firms were women.



Social security benefits will increase 2.5% in 2025 to reflect cost-of-living increases.&nbsp;<a href="https://www.forbes.com/sites/kellyphillipserb/2024/10/10/social-security-benefits-will-increase-in-2025-to-reflect-cost-of-living-adjustments/">Retirement benefits</a>&nbsp;could increase, on average, about $50 per month.



The largest federation of labor unions in the U.S. and the National Science Foundation, an independent federal agency,&nbsp;<a href="https://www.forbes.com/sites/shalinjyotishi/2024/10/10/labor-meets-science-policy-nsf-and-afl-cio-announce-partnership/">announced Thursday they would partner</a>&nbsp;to&nbsp;better&nbsp;understand the impact of technology, including AI and automation, on their jobs.&nbsp;The first of its kind, the AFL-CIO/NSF partnership could serve as a model for how unions work with other federal agencies on workforce development.



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<h2 class="wp-block-heading" id="h-number-to-note">NUMBER TO NOTE</h2>



<h2 class="wp-block-heading" id="h-500">500</h2>



<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
That’s the number of employees TikTok said it&nbsp;<a href="https://www.reuters.com/technology/bytedance-cuts-over-700-jobs-malaysia-shift-towards-ai-moderation-sources-say-2024-10-11/" rel="noreferrer noopener" target="_blank">laid off</a>&nbsp;on Friday. Though it’s a fraction of the 110,000 people the social media giant employs, cuts were mostly done in its content moderation department in Malaysia in a shift toward AI.



<h2 class="wp-block-heading" id="h-"></h2>
</blockquote>

Pick n Pay Stores Ltd. Launch New ‘QualiSave’ Brand Cut-Price Supermarket

Can Corporate Hack It On The Retail Floor?

Africa! It was the Formula 1 of political unrest, extremism, and democratic reversals, from 2020 – coups competing for attention, authoritarian powers vying for a podium finish and great-power competition clogging the tracks. The colosseum of Africa in the cauldron of discontent. Yet, U.S. engagement in Africa remains deprioritized in Washington, with only sporadic attention, notwithstanding the actions that can indeed reinvigorate democracy and stabilize the region. Instead, enhanced barriers to market access push African countries further away.



Between 2021 and 2024, the U.S. administration actually suspended a record eight African countries from the U.S. tra preference program, AGOA. The European Union’s Carbon Border Adjustment Mechanism puts further pit stops for African manufacturing exports.



And China is buying less crude oil from Africa.



Angola, the second-largest exporter of oil to China in 2010, now, ranks eighth. South Sudan, Sudan and Nigeria have seen declines hovering around 70% in their hydrocarbons’ trade with China. But it’s not all gloom and doom in this Olympiad of hidden agendas.



In minerals and metals trade, African exports to China was $50 billion in 2021, from $15 billion in 2010.



Impressively, Chinese investments are now extending into refining and processing on the continent. These include large lithium processing plants in Zimbabwe and Nigeria.



The latest African sport is China’s focus on semi-processed African agriculture exports. China has even committed to opening “green lanes” to fast-track inspection and quarantine processes. Thirty percent of Kenya’s avocados are exported to China today. Namibia began exporting beef in 2019. Ethiopia and Rwanda also send coffee to China.



These are promising signs in a continent where agriculture contributes a fifth of GDP but provides 50% employment.



As Chinese manufacturers accelerate efforts to relocate and avoid the great Western backlash, destinations have been Southeast Asia and Latin America as U.S. gateways.



Africa will benefit from these shifts if integrated into global manufacturing supply chains. There is much work to do.



As labor costs elsewhere rise, relocating production bases to Africa is sensible. This requires better infrastructure though.



China can then help Africa build up comprehensive industrial capacity in the coming years. Already, Chinese e-commerce platforms are a doorway for African suppliers. Innovative live streaming events on e-commerce platforms during shopping festivals in China boost sales.



Reportedly, the sales of Kenyan tea and Ethiopian coffee surged 409% and 143% respectively during one event alone.



Let’s now move to soft power. How it embeds if you catch them young.



China is the second-most popular destination for Africans seeking higher education abroad, with 81,600 students; 61 Confucius Institutes have been established in 48 African countries already. China supports over 30 African universities and programs to study Chinese language. Universities in China have added new courses for African languages, such as Amharic, Malagasy and Zulu. There is also a plan to train 500 vocational teachers and 10,000 technical personnel annually. Then comes the icing. Media and cultural exchanges between Africa and China have increased. Joint production and broadcasting of movies and television series are rising.



Footballers from Angola, Cameroon, Ghana, and Nigeria have joined China’s Premier League. Chinese tourists are growing as African countries provide visa-free/on-arrival entries to Chinese visitors. China’s Ministry of Culture and Tourism has listed 34 African countries for travel. But then, what is the battle of the heart and mind without a bit of money too? China is a prominent lender of last resort through rescue loans and central bank swaps to distressed countries. Not surprisingly, bilateral non-dollar Chinese Renminbi (RMB)-based financing is stealthily growing too.



The agreement reached by Zambia under the G20 Common Framework in June 2023 is a milestone for the Chinese approach to debt restructuring, which favors repayment extension instead of haircut relief.



But somewhere, something is missing which should help the other contestants. China Inc is shifting from infrastructure-oriented projects toward industrialization- oriented projects. African policy responses and the



ability of Western countries to muscle back through core infrastructure financing will be the cherry to pick.



The implementation of the Lobito Corridor by the Partnership for Global Infrastructure and Investment will test the G7’s commitment to infrastructure investments in Africa. Whether the U.S. continues to prioritize the



program’s continuity remains to be seen — especially with a new U.S. administration in 2025. To strike gold, you need a plan. The U.S. and its allies still lack that coherent, well- funded and coordinated strategy to solve the ‘trilemma’: defend democracy, ensure security and extend geopolitical influence; all a function of development and market access. Historically, other strategic priorities have always drawn Washington’s attention away from Africa; Gaza and Ukraine being the current distractions to a massive opportunity.



And hence for Africa, it’s got to be about making hay while the sun shines from the East. Textbooks on ‘how to do things’ are meaningless at the altar of cheque books at times of extreme desperation. Therein lies the current puzzle of how to matter to Africa now. African wisdom thus has to be to ‘run with the hare and hunt with the hounds’.

China-Africa Liner

Expert-Speak: How To Matter To Africa Now

The value of African art in the international market has reportedly more than doubled to $72 million.



At various times in the latter-day stages of its chameleonic three-billion-year life, it’s been known as Epher, Ophir, Ham, Corphye, and Faraqa. It’s been Alkebulan: ‘the mother of mankind’. This womb of creativity is Also Known As Africa, itself the mischievous title of an annual art and design fair returning for its ninth edition from October 18 to 20 at Le Carreau du Temple, Paris.



“Also Known As Africa is an open-ended question to all artists, art lovers, curators, collectors and professionals to join the conversation about what is each and everyone&#8217;s Africa,” says Victoria Mann, the fair’s founding director. “It’s about making no assumptions, and embracing everyone&#8217;s unique vision.”


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The fair features 37 exhibitors and over a hundred artists, with a “particular focus” on the ultra-marine scene.



“We created AKAA with the intention of presenting artists defined not by their location, but by the link to the African continent they highlight in their art practice,” says Mann. “These links go above and beyond borders. Highlighting the Caribbean and West Indies territories is in line with this approach, and we are thrilled to include talents who very naturally find their place alongside the diverse line-up of artists showcased at the fair.”



These wider cross-continental conversations reach out into the diaspora, facilitating a de-colonization of the creative ‘supply chain’ by supporting a multiplicity of perspectives. “Over the past nine years, we have seen incredibly compelling and innovative ways we can see contemporary African art from an angle that highlights these conversations through curatorial practices, residency programs, and within the market,” she says. “More contemporary artists from Africa are joining international galleries, who have a diverse roster of artists, and several galleries that specialized in the African contemporary art scenes are now working with artists from other parts of the world, creating that dialogue internally.”



In the 10 years since AKAA’s inception, the value of African art in the international market has more than doubled to $72 million, as biases about the nature of African art have shifted and matured into a more nuanced understanding of its diversity and breadth. “Our aim was to offer an economic and cultural platform that would contribute to the development and rise of this market, and that would allow the French public to understand and appreciate these art scenes without cliché or preconceptions,” Mann says. “This is no longer an emergent market, but one that is stable, and growing stronger. Galleries that participated in AKAA as their first international fair now travel the whole world, and young artists who were presented for the first time in Paris have been acquired by major collections.”



The venue, a covered market close to the 800-year-old enclosure where the royal family were held captive during the French Revolution, was an important curatorial choice that gives larger installations room to breathe and interact with the exhibition space.



“From the very start, the Carreau du Temple, with its urban metallic structures and high ceilings allowing natural light to pour in, was the ideal canvas to welcome a monumental installation,” she says. This year’s installation is by Malam, a Paris-based artist from Cameroon “whose work brings about a dialogue between the memory carried by discarded objects, and the consequences of overconsumption our modern-day society faces”.



This is a freedom not only of artistic scale, but to be and name oneself, celebrated in the country of liberation.



“I don&#8217;t believe that any artist today wishes to be qualified by where they come from, but rather by what they do,” Mann says. “It’s a much more dynamic, contemporary, and rich way to present these art scenes.”

Delphine Diallo, The Protector of Humanity_2023©FisheyeGallery

‘What Is Each And Everyone’s Africa’: Check Out This Art Liberation In The Streets Of Paris

Untitled design (35)

The World’s Highest-Paid Soccer Players 2024

<h2 class="wp-block-heading" id="h-topline">Topline</h2>



Israel’s military on Thursday confirmed&nbsp;<a href="https://www.forbes.com/sites/brianbushard/2024/10/17/who-is-yahya-sinwar-israeli-forces-close-in-on-prisoner-turned-hamas-leader/">Yahya Sinwar</a>, the leader of Hamas whom the U.S. and Israel&nbsp;<a href="https://www.justice.gov/opa/pr/justice-department-announces-terrorism-charges-against-senior-leaders-hamas" rel="noreferrer noopener" target="_blank">believe</a>&nbsp;orchestrated the militant group’s attack on Israel last year, was killed in a strike in Gaza on Thursday.



<h2 class="wp-block-heading">Key Facts</h2>



Israeli Defense Forces&nbsp;<a href="https://x.com/IDF/status/1846957737487278263" rel="noreferrer noopener" target="_blank">said</a>&nbsp;Sinwar was “eliminated,” after Israel’s military and the Israel Security Agency investigated whether the Hamas leader was among three militant killed during IDF operations in Gaza on Thursday



Israel Katz, Israel’s foreign minister, also confirmed Sinwar was killed Thursday,&nbsp;<a href="https://www.reuters.com/world/live-updates-yahya-sinwar-2024-10-17/" rel="noreferrer noopener" target="_blank">Reuters</a>&nbsp;reported,&nbsp;<a href="https://www.bbc.com/news/live/cy94zdd0nxlt" rel="noreferrer noopener" target="_blank">adding</a>&nbsp;his death “opens the possibility” for the “immediate release” of hostages.



There were no signs of Israeli hostages present in the building where the three militants were killed, according to the IDF.



Sinwar, 62, has served as Hamas’ leader in Gaza since 2017 and was named the group’s overall leader in August after Ismail Haniyeh, the group’s political chief, was&nbsp;<a href="https://www.forbes.com/sites/siladityaray/2024/07/31/hamas-political-chief-ismail-haniyeh-killed-in-iran-militant-group-blames-israel/">killed</a>&nbsp;in Iran—an attack Hamas blamed on Israel, which has not publicly acknowledged any involvement.



Senior Biden administration officials have believed that, if Sinwar was killed, Israel would end its conflict with Hamas,&nbsp;<a href="https://www.cnn.com/world/live-news/israel-iran-gaza-lebanon-10-17-24-intl-hnk/index.html" rel="noreferrer noopener" target="_blank">according</a>&nbsp;to CNN.



President Joe Biden said in a&nbsp;<a href="https://www.whitehouse.gov/briefing-room/statements-releases/2024/10/17/statement-from-president-joe-biden-on-the-death-of-yahya-sinwar/" rel="noreferrer noopener" target="_blank">statement</a>&nbsp;“this is a good day” for the U.S. and Israel, and compared the relief felt across Israel to that felt in the U.S. “after President Obama ordered the raid to kill Osama Bin Laden.”



<h2 class="wp-block-heading">Who Is Yahya Sinwar?</h2>



Sinwar was&nbsp;<a href="https://www.forbes.com/sites/brianbushard/2024/10/17/who-is-yahya-sinwar-israeli-forces-close-in-on-prisoner-turned-hamas-leader/">born in Gaza</a>&nbsp;in the early 1960s and joined Hamas after the militant group was founded in 1987,&nbsp;<a href="https://ecfr.eu/special/mapping_palestinian_politics/yahya_sinwar/" rel="noreferrer noopener" target="_blank">according</a>&nbsp;to the European Council on Foreign Relations think tank. He helped establish Hamas’ internal security force a year later, and was sentenced to life in prison that same year for plotting to kill two Israeli soldiers and for the deaths of four Palestinians he believed had collaborated with Israel. Sinwar was released by Israel in 2011 as part of a prisoner swap involving more than 1,000 Palestinians. The U.S.&nbsp;<a href="https://www.justice.gov/opa/pr/justice-department-announces-terrorism-charges-against-senior-leaders-hamas" rel="noreferrer noopener" target="_blank">filed</a>&nbsp;terrorism charges against Sinwar in September, accusing him and other Hamas leadership officials of orchestrating the group’s attack on Israel on Oct. 7, 2023. He has not been seen publicly since before the attack, and it is believed he has been hiding in tunnels beneath Gaza,&nbsp;<a href="https://www.reuters.com/world/middle-east/israeli-military-says-checking-possibility-that-hamas-leader-sinwar-has-been-2024-10-17/" rel="noreferrer noopener" target="_blank">according</a>&nbsp;to Reuters.



<h2 class="wp-block-heading">Crucial Quote</h2>



Vice President Kamala Harris also issued a statement on Sinwar’s death, saying “justice has been served &#8230; and the United States, Israel and the entire world are better off as a result.” Harris also expressed hope that “this moment gives us an opportunity to finally end the war in Gaza,” adding: “It is time for the day after to begin without Hamas in power.”



<h2 class="wp-block-heading">Key Background</h2>



Israel and Hamas have been at war since the militant group attacked Israel last year. Hamas killed about 1,200 people and took more than 250 hostages on Oct. 7, 2023, according to the State Department. Palestinian health officials have&nbsp;<a href="https://www.reuters.com/world/middle-east/gaza-death-toll-how-many-palestinians-has-israels-campaign-killed-2024-07-25/" rel="noreferrer noopener" target="_blank">reportedly</a>&nbsp;said at least 41,500 Palestinians have been killed by Israel since the conflict began, as of Oct. 1. Israel has carried out several attacks targeting high-ranking Hamas officials in recent months, and previously killed&nbsp;<a href="https://www.forbes.com/sites/antoniopequenoiv/2024/09/28/hezbollah-leader-hassan-nasrallah-target-of-israels-beirut-strike-confirmed-killed/">Hasan Nasrallah</a>, leader of the Iranian-backed Hezbollah militant group. The U.S. has pushed Israel and Hamas to seek an end to the conflict amid multiple failed attempts and proposals for a ceasefire, and has warned against a possible escalation with Iran, which backs both Hamas and Hezbollah. Hezbollah, which has supported Hamas in its war with Israel, has launched its own attacks against Israel, which has retaliated with air strikes in recent months. Iran&nbsp;<a href="https://www.forbes.com/sites/mollybohannon/2024/10/01/iran-launches-missile-strike-on-israel-israeli-military-says/">launched</a>&nbsp;missiles against Israel earlier this month, which Iranian officials suggested was a “first wave,” while Israeli officials have warned of retaliation.



<h2 class="wp-block-heading">What To Watch For</h2>



U.S. State Department spokesperson Matthew Miller said at a press briefing Thursday the U.S. will now “redouble its efforts” to return hostages still held by Hamas and end the war. “Over the past few weeks there have been no negotiations because Sinwar has refused to negotiate,” Miller said. “We now see an opportunity with him being removed &#8230; and we want to seize that opportunity.”

Yahya Sinwar, head of the Palestinian Islamic movement Hamas

Hamas Leader Yahya Sinwar Killed In Gaza Strike, Israel Confirms

The 2024 general elections in Mozambique seems to have highlighted tensions between the ruling party’s revolutionary past and present-day challenges as allegations of irregularities cast a shadow over the vote.



The 2024 general elections in Mozambique marks a pivotal moment in the nation’s political landscape.



Despite the backdrop of insurgency in the north and concerns raised by some observers, the long-dominant ruling party, the Mozambique Liberation Front (FRELIMO), is expected to secure a decisive victory, with preliminary reports indicating a lead in all 11 provinces, including the capital city of Maputo.



However, FRELIMO, which has governed the country since its independence from Portugal, almost half a century ago, reportedly faces growing scrutiny over alleged election irregularities. As the party seeks to retain control, it may contend with accusations of increasingly authoritarian rule and manipulation.



“This is a structural problem of election rigging,” says Borges Nhamirre, a political analyst at the Institute for Security Studies (ISS) to FORBES AFRICA, indicating that such issues are not new, adding, “the results from the polls are not the ones published by the electoral bodies”.



A Contested Field



The presidential race featured several parties, including the ruling FRELIMO, the Mozambican National Resistance (RENAMO), and the Democratic Movement of Mozambique (MDM). Daniel Chapo, FRELIMO’s candidate, is set to succeed current President Filipe Nyusi, should the party obtain victory.



RENAMO, historically the primary opposition, appears to be losing some of its influence as indicated by preliminary vote reports. Meanwhile, MDM’s Lutero Simango and independent candidate Venâncio Mondlane have sought to challenge FRELIMO’s dominance, with Mondlane standing as a notable contender.



Access and Oversight



According to a preliminary report from the European Union Election Observation Mission (EU EOM), “There was a notable lack of confidence in the reliability of the electoral register and on the independence of the electoral bodies”.



In a press release issued recently, Laura Ballarín, Chief Observer of the EU EOM, noted that FRELIMO benefited from “the misuse of state resources”, creating an uneven platform for other parties. She added that their “observers reported a slow counting process which suffered from disorganization and lack of clarity”.



Despite these concerns, the voting process was described as orderly. The EU EOM deployed 179 observers across Mozambique, though Ballarín acknowledged the lack of confidence in “the reliability of the electoral register and the independence of the electoral bodies”.



The Southern African Development Community (SADC) also had a significant presence, deploying 53 observers from 10 member states.



Dr Amani Abeid Karume, Head of the SADC Electoral Observation Mission, emphasized that the elections would be evaluated against SADC’s Principles and Guidelines Governing Democratic Elections.



While both SADC and EU observers noted peaceful conduct on election day, access to polling stations was not without its challenges. Some observers were reportedly denied access – a trend Borges criticized. “Observers only covered 1% of polling stations, mostly in city centers, and didn’t witness the broader issues,” he suggests.



Irregularities and Allegations of Fraud



Reports of inconsistencies have raised questions about FRELIMO’s anticipated victory. Borges pointed to areas with more registered voters than the eligible voting-age population, describing it as a “manipulation” tactic. He also alleged non-citizen voting, saying it’s “not uncommon for Zimbabweans to vote”, reflecting long-standing concerns over Mozambique’s electoral integrity.



These irregularities were noted by both local observers and international missions.



A Country on Edge



The credibility of Mozambique’s election process remains under scrutiny, with frustrations reportedly growing among citizens.



The EU EOM plans to release a final report with recommendations in the coming weeks, which they hope will prompt electoral reforms. Meanwhile, SADC’s Karume has called on Mozambique’s political stakeholders to respect divergent political views and exercise responsibility, stressing the importance of stability.



As Mozambique navigates these challenges, the elections serve as a litmus test for the resilience of its democratic institutions and the extent to which the public will tolerate any perceived injustices.

Voting begins in Mozambique to elect new president, parliament

Mozambique Elections: Results Trickling In Amidst Alleged Controversies

<h2 class="wp-block-heading" id="h-topline">Topline</h2>



Liam Payne, an English singer who rose to fame as a member of boy-band One Direction, died on Wednesday after falling from his hotel room in Buenos Aires, Argentina.



<h2 class="wp-block-heading" id="h-key-facts">Key Facts</h2>



The Buenos Aires police issued a statement saying Payne fell from the third floor of the Casa Sur Hotel, in the Argentinian capital which caused him “extremely serious injuries” and was declared dead on the spot by medics.



A local official cited by the&nbsp;<a href="https://apnews.com/article/liam-payne-dies-one-direction-6b7893a56e0d8701096775f611399dd8" rel="noreferrer noopener" target="_blank">Associated Press</a>&nbsp;earlier claimed Payne “had jumped from the balcony of his room.”



Police were reportedly rushed to the scene just after 5 p.m. local time after the hotel’s manager placed an emergency 911 call complaining about a guest “overwhelmed with drugs and alcohol…destroying the entire room,” the AP report added



<a href="https://www.bbc.com/news/live/cn4vem0l5ldt?post=asset%3A75912ea9-911a-47fd-9440-ea326d860257#post" rel="noreferrer noopener" target="_blank">According to</a>&nbsp;BBC, the manager also expressed concern that the guest “has a balcony, and we are afraid they might do something to put their life at risk.”



Local officials said they have launched an investigation into the death and the BBC reported that the UK Foreign office is in touch with Argentinian authorities on the matter.



<h2 class="wp-block-heading" id="h-how-fans-and-musicians-have-reacted-to-news-of-payne-s-death">How Fans And Musicians Have Reacted To News Of Payne’s Death?</h2>



Other members of One Direction have not yet publicly commented on Payne’s death. Harry Style’s mother, Anne Twist, appeared to mourn the singers death by posting an image of the broken heart on her&nbsp;<a href="https://www.instagram.com/p/DBNIp_1ITDv/?hl=en" rel="noreferrer noopener" target="_blank">Instagram</a>&nbsp;with the text “Just a boy.” Waliyha Malik, the sister of former band member Zayn, also shared several images of the singer with her brother in her Instagram story, with the caption “heartbroken.” One Direction fans mourned Payne’s death on social media while a large group gathered outside the Casa Sur Hotel to set up a vigil for the musician and sang One Direction songs.



<h2 class="wp-block-heading" id="h-key-background">Key Background</h2>



Payne was a member of One Direction—a band put together by judges on the British show “The X Factor” in 2010—along with Harry Styles, Niall Horan, Zayn Malik and Louis Tomlinson. They did not win the season, but the group blew up after the show and went on to have stadium tours and a number of pop hits including “Story of My Life” and “Best Song Ever.” The band announced it would take a temporary hiatus in 2015, though Malik had left earlier that year. Payne then pursued a solo career and released his first solo album, LP1, in 2019, before continuing to make pop, hip-hop, Latin, and electronic music. Payne <a href="https://variety.com/2024/music/news/liam-payne-dead-one-direction-1236180399/" target="_blank" rel="noreferrer noopener">talked</a> about his struggle with addiction in recent years, and said he suffered from suicidal thoughts while he a member of One Direction. In a<a href="https://www.youtube.com/watch?v=yIsk5qqE0qc" target="_blank" rel="noreferrer noopener"> 2023 YouTube video</a> Payne said he spend 100 days in rehabilitation and had “more of a grip on life and everything that was getting away from me” after being sober. Payne had four charting songs and one <a href="https://www.billboard.com/artist/liam-payne/" target="_blank" rel="noreferrer noopener">Billboard</a> Top 10 hit in his solo career, 2017’s “Strip That Down” featuring Quavo. He released his most recent song, “Teardrops,” earlier this year. Payne also had a <a href="https://people.com/parents/all-about-liam-payne-son-bear/" target="_blank" rel="noreferrer noopener">child</a> in 2017 with Cheryl Cole.

Hits Radio Live Manchester 2019 – Show

Liam Payne From One Direction Dead After Falling From Hotel In Argentina

<h2 class="wp-block-heading" id="h-growth-outlook-for-africa">Growth outlook for Africa</h2>



If you [look at] macroeconomics, it’s no longer one or two countries driving the continent’s growth. That versatility has started to come through, which they didn’t have earlier. The continent is currently growing at about 3.5% and that will go up&#8230; The governments in Africa realize the economies have to transform into digital economies, and there’s a tectonic shift taking place [in sectors] from manufacturing to services. The continent [will continue to] leapfrog into new tech, not just in payments; it will do well in tourism too, and the SME sector.



[Besides talk on] inclusion, I think access is also most important. So, if I get included, what access do I have to funding, better services, convenience and affordable products? Mobile money is big in Africa, but if you really look at the core – and I don’t think the continent is fully covered in terms of internet and mobile penetration – the per capita cost of providing these services in Africa is higher than the rest of the world. I think there are too many closed loop ecosystems that exist in Africa. You need to have open borders and open economies. And the scale will never happen in a single country. The scale can happen, and that’s why the versatility of having 10 countries have that growth rate is far more exciting than having one country that gives you double the growth rate. I feel the reason mobile phones became cheaper is when telcos (telecom companies) became interoperable between themselves, and that’s a huge learning. But I don’t see that being played out [across] the continent. I think creating broader ecosystems is the way to go.



The tourism sector will do well, and that’s not just for African tourists within the continent, it’s also for international tourists to come through. The one thing the pandemic taught us is people now value experiences more than [just] the physicality of experiences. Africa can give you that. But to do that, if you are sitting in Iceland and want to go to Kenya, how do you plan something that is customized for you? Digitization will help if you’re part of an included economy.


<div class="wp-block-image">
<figure class="aligncenter size-large"><img loading="lazy" decoding="async" width="1024" height="676" src="https://cms.forbesafrica.com/wp-content/uploads/2024/10/MSC03842-1a-1024x676.jpg" alt="" class="wp-image-63421" srcset="https://cms.forbesafrica.com/wp-content/uploads/2024/10/MSC03842-1a-1024x676.jpg 1024w, https://cms.forbesafrica.com/wp-content/uploads/2024/10/MSC03842-1a-300x198.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2024/10/MSC03842-1a-768x507.jpg 768w, https://cms.forbesafrica.com/wp-content/uploads/2024/10/MSC03842-1a-1536x1014.jpg 1536w, https://cms.forbesafrica.com/wp-content/uploads/2024/10/MSC03842-1a-2048x1352.jpg 2048w" sizes="auto, (max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">PHOTOS BY AJEESH LOTUS</figcaption></figure></div>


Agriculture is also going to be very big. Mastercard’s Farm Pass app is a solution that was born in Africa and exported to the rest of the world, including to India. Also significant is the work we do in education and using crowdfunding to actually get children educated.



Mastercard has been operating in Africa for almost 50 years, and now has 13 offices across the continent.



<h2 class="wp-block-heading" id="h-the-consumer-of-the-future">The consumer of the future</h2>



The consumer of the future is every single person. You almost have to go back to classic marketing 101, that the best marketing campaign is customized or tailored to an individual. When you look at your phone, you feel you’re almost there with your customization, but I don’t think you’re fully there. I feel the whole world will turn on its head, and the consumer will become king or queen. Open, enabling ecosystems that allow people to participate fairly is when innovation comes and you can empower everybody. The other dramatic thing for you to think through is that so many companies and industries are putting billions of dollars into digitization, but look at what they’re creating. They say ‘if you come into my digital environment, I’ll give you the best possible digital experience’. But you know what? I’m not just a consumer of a single firm. I am a consumer of the grocery store down the corner. I’m a consumer of an airline. I’m a consumer of a hotel. I’m a consumer of tea, coffee. I am a consumer of the bank. Are you going to make me go into 62 different environments? I feel that’s where it will change. You will now start to have a consumer who will have a digital interface, and then basically say, ‘I need coffee and you interface with me with your APIs, and it’s not me interfacing with you’. I know this sounds far-fetched, but I see a world like that. That’s disruption, that’s power, that’s inclusion.



Every industry will want to come to you and want your business. I think the consumer of tomorrow will not classically be segmented as affluent, super-affluent, middle income etc. It’s down to every single segment, and it’s customized up to it. I think consumers will have more power than ever before. That’s true empowerment. And the whole ecosystem helps them deliver that. By the way, we are only talking about this from the consumer side. I see that on the government side as well. In the end, I’m a citizen, and governments have to give me better services. And I can see how that can come through. I consume utilities, I can see how utility companies come to me, and so on. So, the world of tomorrow is really about the consumers and how they will be at the center of how things are made for them, customized perfectly to what they want.



<h2 class="wp-block-heading" id="h-uptake-of-new-technologies-and-innovations-by-various-african-governments">Uptake of new technologies and innovations by various African governments</h2>



The good news is that pretty much every government official, minister or policymaker understands the importance of digitization and financial inclusion. They get it. The question then is, how well-versed are they about the world of today versus the world of tomorrow? If you’re making policies for today, then you’re going to miss out on the future. I’m not saying that’s an issue, but that’s an area that requires a little more embellishment, in terms of knowledge structure, and thinking through the implications for the wider ecosystem in the economy. I do agree that governments have to create digital infrastructure but my question is if that’s the only way, or can you do this in a partnership? If not in partnership, you start to create single points of failures as well, especially with all of the cyber security [issues] etc. But by and large, governments are amiable to having the dialogue.



<h2 class="wp-block-heading" id="h-collaboration-with-fintechs">Collaboration with fintechs</h2>



Earlier this year, we signed a multi-market agreement with MTN Group Fintech that will set in motion a new era of collaboration to connect millions of people and small businesses across Africa with digital tools such as virtual cards, to transact through secure mobile payments, expanding access to the benefits of the cashless digital economy.



What we have is partnerships on the one side with fintechs. Mastercard Start Path supports and invests in several African fintech companies (such as Paycode, Ukheshe and Karri) to scale and grow. [All of this] allows us to play in different parts of the value chain. This also is testimony to the way we work. We are about partnerships and enabling ecosystems, because we sometimes don’t want to do everything ourselves; we see somebody else do it, and are like, ‘oh, this person does this stuff very well’, so, it becomes a mini ecosystem [through] that partnership model. That’s our DNA.



I think the intent is no longer an issue. The question is, how do you do it at scale and at an economics that makes sense. I think that’s the part where most people are struggling. And that’s why it requires a new approach to how you do it. And it has to be sustainable.



<h2 class="wp-block-heading" id="h-as-a-forecaster-view-of-the-future">As a forecaster, view of the future</h2>



I am very privileged to get access to information and the people I talk to… But if you were exposed to all of that, you would probably make similar predictions, walking the talk every day. It’s just as simple as that. As you get more experienced, you also start to think differently about the world of the future and what role you want to play. Nobody will ever remember you for the seniormost rank you had in a corporate, people remember you for how you enable other people, ecosystems, and lay foundations for the growth for others.



I actually do feel that in our lifetime, our mortality rate will improve by at least 15 years. I see the smartest people will proactively reinvent themselves [for that]. The way you spend your time and how you create value will be different. This will be a very big trend.



<h2 class="wp-block-heading" id="h-big-growth-markets-in-africa">Big growth markets in Africa</h2>



The space of payments and finance is obviously big. The tourism industry is going to be very big in the future, because, after the pandemic, a lot of people realize life’s not just about the material things, it’s about being human, it’s about the experiences we have. Africa is unspoiled, it has nature, and that’s what people want to connect with. The third sector is going to be agriculture, with Africa’s large land banks. There is so much opportunity to actually have better efficiency of crop production and the supply chain to the rest of the world.



<h2 class="wp-block-heading" id="h-what-makes-a-standout-leader">What makes a standout leader</h2>



You have to be really results-oriented, analytical and in tune with your business environment. But what makes a really good business leader and good person is somebody who knows to balance their heart and mind. Somebody recently told me that the mind is a humble servant of the heart and not the other way around. And it was a really profound statement for me, but if I really look back and think of how great decisions get taken, it’s not the mind. It’s actually when you make your mind do what your heart really thinks is the right thing to do.



<h2 class="wp-block-heading" id="h-your-personal-leadership-style">Your personal leadership style</h2>



I am results-oriented, so my style is [reaching] a desired outcome which is for the greater good, and it doesn’t always mean economic profit. Then you start thinking about your team, business environment, adaptability, flexibility… And I would add one other thing – resilience. A lot of times, it’s hard out there, and I think being resilient is something that has actually stood by me in good times and bad times.



<h2 class="wp-block-heading" id="h-building-an-entrepreneurial-mindset">Building an entrepreneurial mindset</h2>



It’s a bit of hard work and a little bit of luck, and experience matters. As you get more information, your mind starts to process the complexity of all of that. You look at the business environment, you start to look for trends and changes around that. And then you start to create an informal framework in your head that starts to analyze these things. It’s a little hard in the beginning, but over the years, that comes very naturally, because you’ve started to get the subtleties and insights in even simple sentences. And that shows you what the world needs, whether it’s a consumer or a customer or the business environment. And I think that is what gets you to an entrepreneurial mindset. The second thing is openness to change, openness to new things, and the ability to clench your teeth and hunker down when the going is really tough, and having the mental will to power through that time, because that’s what great entrepreneurs do.



<h2 class="wp-block-heading" id="h-the-technology-to-come-that-you-re-most-excited-about">The technology to come that you’re most excited about</h2>



I don’t know whether I’m excited about another gadget or another technology. What I’m excited about is how ecosystems are being built and that what we need as an enabling layer is finally coming together. I was joking with somebody the other day about the Internet of Things from five years ago. Nobody talks about that now. They talk about generative AI. What I’m excited about is I actually feel we now have the technology enablement that will allow all of these things to become bigger. In other words, there will be even more innovation, and probably a new gadget will come, or a new technology will come, but what I’m excited about today is the fact that we actually have the infrastructure that will allow for all of these things to take place. Because earlier, this was conceptual. Today, this can become a reality.



<h2 class="wp-block-heading" id="h-plans-for-the-next-five-years">Plans for the next five years…</h2>



I think [I will be] reinventing myself to create foundations and being involved with how the future looks. Retirement is a relative term. I have taken a personal pledge to help 100 million SMEs and 500 million people, but I don’t want to do this as a CSR exercise. I want to actually create a model that allows that. I also have a vision where even if you’re an entrepreneur and creating immense wealth, that wealth has to be shared in different countries, wherever you operate. I don’t have precise plans for each of them, but broadly, [I know] how that will work.



The answer is, [my plans] will be in AI for sure. I’ve started to kind of think about those things: it’s definitely about helping governments and industries who are creating digital infrastructure in a more inclusive way; about helping people create open ecosystems, in other words, creating foundations that allow for betterment. And lastly, giving back, and being available to people for pro bono work. I don’t think there’s a paucity of capital. I think the issue is, how do you take that quality capital and deploy it in the best possible way? I’m grateful and privileged for what Mastercard has given me, but I am taking that knowledge and helping SMEs, and [creating] more equitable systems and better convenience for citizens. I see all of that in the future.

MSC03810 copy-1a

On The Payments Ecosystem And Africa: ‘That’s Disruption, That’s Power, That’s Inclusion’

<a href="https://www.forbes.com/"></a><a href="https://www.forbes.com/search/"></a>U.K.-based startup Hertility provides at-home hormone tests to help women assess their risk of fertility decline and make informed decisions about whether to consider treatment like IVF or egg-freezing. It wants to advertise its services on TikTok, which women <a href="https://www.pewresearch.org/internet/2024/01/31/americans-social-media-use/" target="_blank" rel="noreferrer noopener">use at higher rates</a> than men. But it can’t.



That&#8217;s because Hertility ads that mention its diagnostic tests have been blocked by the platform. TikTok spokesperson Ben Rathe says it’s because the company prohibits advertising about fertility treatments and IVF care—something not stated publicly or explicitly in&nbsp;<a href="https://ads.tiktok.com/help/article/tiktok-ads-policy-healthcare-pharmaceuticals" rel="noreferrer noopener" target="_blank">TikTok&#8217;s healthcare advertising policy</a>—but Hertility doesn’t offer those. TikTok also offered a number of other reasons for the blocks: that Hertility offers medical appointments through its website (something not necessarily mentioned in its ads), or that an ad featured pharmaceutical content (when the company doesn’t sell prescription drugs).



When Hertility has managed to get an ad on TikTok, it&#8217;s been forced to water down its promotional language to the point that it’s no longer even clear what the company does. The company spent two years trying to find a way to market itself on the platform. But in the end, it’s just giving up.



“We are literally hitting our heads against a brick wall,” said Dr. Helen O’Neill, a Hertility cofounder and molecular geneticist who’s spent more than a decade researching infertility and embryonic development.



“We&#8217;re not trying to sell anyone egg-freezing or IVF; we&#8217;re trying to actually help them get on an IVF journey if they need to sooner,” O’Neill said. But the platform “blocks people from even just getting answers, even though [people] sell all sorts of untoward things on TikTok.”



Previously, Hertility’s ads had also been blocked by Meta. The Instagram and Facebook parent’s policies&nbsp;<a href="https://transparency.meta.com/policies/ad-standards/restricted-goods-services/health-wellness" rel="noreferrer noopener" target="_blank">allow ads</a>&nbsp;that promote sexual health, wellness and reproductive products and services—including IVF—as long as the users targeted are over 18, and the focus is on health and medical efficacy rather than sexual pleasure or enhancement, according to Meta spokesperson Daniel Roberts.



<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
“What this leads to more broadly is also that it negates normalizing conversations around sexual and reproductive health.”Caroline Hoffman, chief business officer at Nurx
</blockquote>



“I&#8217;m sad to say that it has something to do with the fact that anything involving women&#8217;s health becomes territorial,” O’Neill added. “We see it now with IVF and egg-freezing—that even the smallest bit of insight into women&#8217;s health will soon become under attack.”



Hertility isn’t the only fertility company that has struggled to advertise on social media: Startups across the space have seen their ads about in-vitro fertilization and egg-freezing blocked or restricted across TikTok, Google and Meta, according to leaders of multiple reproductive health companies.



On the one hand, these giant platforms have valid reasons for their strict advertising rules, often stemming from the need to meet complex legal requirements of regulations in healthcare and medicine, as well as user safety and privacy laws that vary between countries and states. On the other, some companies and brands in the space see these decisions as censorship of a topic deemed by many to be controversial, in a post-Roe v. Wade era when fertility care has become politicized in the race for the White House, Congress and state governments.



Social media platforms have long struggled to strike the right balance with content moderation: Its rules are ever-changing and often opaque, with imperfect detection and decisions. And the lines between what is or isn’t an ad have been blurred by influencer marketing, which is another (and arguably, more powerful) form of advertising that is not always disclosed, nor policed the same way as classic paid ads.



Different platforms have different rules about whether they allow political ads, but across the board, users and companies alike have raised concerns that politicized topics like women’s reproductive health are increasingly getting the ax. This has previously&nbsp;<a href="https://www.nytimes.com/2024/06/11/business/abortion-groups-tech-platforms.html" rel="noreferrer noopener" target="_blank">affected posts about abortion</a>&nbsp;and&nbsp;<a href="https://www.nytimes.com/2022/01/11/style/facebook-womens-sexual-health-advertising.html" rel="noreferrer noopener" target="_blank">ads about female sexual health</a>, which may be disproportionately suppressed or removed compared with similar ads geared towards men. In 2022, the nonprofit Center for Intimacy Justice&nbsp;<a href="https://www.intimacyjustice.org/petition" rel="noreferrer noopener" target="_blank">published a report</a>&nbsp;highlighting this disparity across Facebook and Instagram, which allowed ads from men’s health companies promoting products for their sexual endurance, erectile dysfunction and premature ejaculation while blocking ads about menopause, endometriosis and bladder control experienced by women. Hertility and other “femtech” startups banded together to lobby against the issue. And last year, Democrats in Congress&nbsp;<a href="https://www.hirono.senate.gov/imo/media/doc/2023_ftc_letter_meta.pdf" rel="noreferrer noopener" target="_blank">asked</a>&nbsp;the Federal Trade Commission to investigate.



Reproductive health companies “engage in a lot of work-arounds [to avoid getting their ads rejected] but by and large, other than obvious known knowns&#8230; you often have to guess what wasn&#8217;t right,” said Caroline Hoffman, chief business officer at Nurx, a telemedicine platform for women&#8217;s health aimed at expanding access to birth control, emergency contraceptives and reproductive care. She said Nurx spends millions per year advertising on TikTok and that they’ve had problems not only with paid ads, but also with organic posts. They see their organic content suppressed less on Meta platforms, and when their ads are rejected there, Meta offers more explanation than TikTok as to why, she said.



“What this leads to more broadly is also that it negates normalizing conversations around sexual and reproductive health,” she added. “It decreases the accessibility for credible and educational content. We want to play a much more active role in informing and sharing facts, and we think that this is our responsibility as a company to educate our patients. But it&#8217;s more and more difficult.”



<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
“Trying to conceive: Not a political issue, unless you are not in a traditional relationship. But egg freezing: Very controversial.”An anonymous fertility startup founder
</blockquote>



IVF and egg-freezing now appear to be the newest frontier for the problem. At the same time as startups in the space say they’re seeing their ads rejected or restricted, brands are using the same platforms to hawk dubious fertility products to enormous audiences. On TikTok Shop, for example, it’s easy to find unproven pills, powders, teas and gummies claiming to improve the quality of women’s eggs, circulation of their ovaries, functioning of the uterus and balance of their hormones, in apparent violation of company policies. (TikTok Shop&nbsp;<a href="https://seller-us.tiktok.com/university/essay?knowledge_id=1399532709988097&amp;default_language=en&amp;identity=1" rel="noreferrer noopener" target="_blank">prohibits</a>&nbsp;the sale of “unlicensed medicines, herbal or homeopathic products, and those making health claims.”)



Meanwhile, influencers being compensated by fertility clinics are broadcasting their IVF and egg-freezing journeys to followers as a promotional tool—<a href="https://www.forbes.com/sites/alexandralevine/2024/07/26/rise-of-the-ivf-influencers-fertility-creators-tiktok-instagram/'">without always disclosing the financial relationship</a>. (This, too, is not allowed on TikTok.) “That seems so ironic that a clinic can directly pay someone to get a procedure” as an advertisement, and “we want to enable people to just get answers, and we&#8217;re banned,” O’Neill, the Hertility founder, said.



The cofounder of an egg-freezing company said that TikTok regularly rejecting their ads is polarizing fertility issues that should be straightforward. They were told their ads violated TikTok’s policy on “medical devices,” though their company does not sell medical devices.



<hr class="wp-block-separator has-alpha-channel-opacity"/>



“Trying to conceive: Not a political issue, unless you are not in a traditional relationship. But egg freezing: Very controversial, because it means that you are someone who&#8217;s potentially looking to put off having a baby so you can pursue a career, education or other parts of your life,” said the cofounder, who requested anonymity because the company is actively lobbying to be able to advertise on the platform. They said they never expected egg-freezing to be controversial. And given the size of the audience for the TikTok hashtag #eggfreezingjourney — at one point 30 million viewers, they said — “Why wouldn’t they want our money as an advertiser to reach that audience?”



TikTok spokesperson Ben Rathe said ads for egg-freezing are allowed in the U.S., as long as they are targeted at individuals over 18 and comply with other rules set out in the company&#8217;s policies. But the egg-freezing startup said it met those age requirements.



<hr class="wp-block-separator has-alpha-channel-opacity"/>



These obstacles extend beyond traditional social media to search giants like Google.



Google has limited the advertising possible for AIVF, a startup using artificial intelligence to improve and digitize the end-to-end IVF process for patients, fertility clinics and embryology labs across the United States, Europe and Latin America, said AIVF’s vice president of marketing Eyal Katz.



IVF and egg-freezing fall under a Google advertising category called “birth control,” even though they are not a form of birth control. Google spokesperson Nate Funkhouser told&nbsp;Forbes&nbsp;advertising on these topics is restricted only in some parts of the world,&nbsp;<a href="https://support.google.com/adspolicy/answer/176031?hl=en#zippy=%2Ctroubleshooter-birth-control" rel="noreferrer noopener" target="_blank">banned in</a>&nbsp;China, Hong Kong, Iran, Lebanon, Palestinian Territory, Saudi Arabia, Ukraine and the United Arab Emirates, among other places. But AIVF’s Katz said their prospective U.S. market is affected, too.



“We are targeting countries not included as part of the policy… and still having issues with the policy rejecting our ads,” Katz said. “I was told by a Google representative that it would be wise to remove any mention of birth control or IVF from our landing pages and/or ads. However, unclear as to why I would need to do that in countries where the policy is not supposed to be enforced.”



Funkhouser, the Google spokesperson, said over email that “we have long allowed ads for fertility treatments and services in most countries,” but “to ensure advertisers don&#8217;t target people based on sensitive health information, we do implement certain protections.” As part of its&nbsp;<a href="https://url.us.m.mimecastprotect.com/s/og_pCzpqjMfzELZmuXhvF95Upl?domain=support.google.com" rel="noreferrer noopener" target="_blank">personalized advertising policies</a>, Google prevents those advertising fertility services—which it considers a sensitive category—from using certain ad customization tools. The goal, he noted, is to avoid targeting that could negatively impact user experience. But there are no restrictions on specific fertility-related words (except for users under 18), he said.



“It&#8217;s not that [Google] prohibits us from advertising to people in search of an IVF treatment, it just limits the ways that we can do it, into a way that makes it not very effective,” Katz told&nbsp;Forbes.



“Technology makes IVF something that is more accessible to a wider audience,” he added. “And with these platforms limiting it, they&#8217;re limiting the access that IVF treatment would have, especially for those types of audiences that need it.”



This story has been updated to clarify Meta’s ad policies.

Be always in contact.

TikTok Is Rejecting Ads About IVF, Egg Freezing And Fertility Services, Founders Say

<h2 class="wp-block-heading" id="h-topline">Topline</h2>



The once-highly anticipated fashion event and television ratings juggernaut, the Victoria’s Secret Fashion Show, will take place in New York tonight for the first time since 2018, after the annual event went on a hiatus amid a series of controversies that rattled the lingerie brand and declining viewership.



<h2 class="wp-block-heading" id="h-key-facts">Key Facts</h2>



The Victoria’s Secret Fashion Show is a typically star-studded annual event used by the company as a marketing tool for its lingerie and is known for the models (called “Victoria’s Secret Angels”) that walk the runway and wear the brand’s iconic wings.



This year’s show will take place in Brooklyn and will be hosted by&nbsp;<a href="https://www.harpersbazaar.com/fashion/fashion-week/a62337129/tyra-banks-victorias-secret-comeback-interview/" rel="noreferrer noopener" target="_blank">Tyra Banks</a>, who walked in nine shows as a Victoria’s Secret Angel before her retirement at the 2005 Victoria’s Secret show.



<a href="https://www.billboard.com/music/music-news/cher-2024-victorias-secret-fashion-show-all-women-lineup-1235777330/" rel="noreferrer noopener" target="_blank">Cher</a>&nbsp;will headline an all-female lineup of artists, which also includes the South African singer&nbsp;<a href="https://www.billboard.com/music/music-news/tyla-victorias-secret-fashion-show-performer-1235778829/" rel="noreferrer noopener" target="_blank">Tyla</a>&nbsp;and Thai singer and rapper&nbsp;<a href="https://vsnow.victoriassecret.com/fashion-show/musical-guest-lisa/" rel="noreferrer noopener" target="_blank">Lisa</a>.



Victoria’s Secret announced in May the fashion show would return and will “reflect who we are today,” likely referring to the brand’s attempt to&nbsp;<a href="https://www.cnn.com/style/article/victorias-secret-rebrand-vs-collective/index.html" rel="noreferrer noopener" target="_blank">overhaul its image</a>&nbsp;to become more inclusive of body types and gender identities.



<h2 class="wp-block-heading" id="h-who-is-participating-in-this-year-s-show">Who Is Participating In This Year’s Show?</h2>



Valentina Sampaio, a Brazilian model hired in 2019 as the brand’s first openly transgender model,&nbsp;<a href="https://www.instagram.com/p/DBJdgdKvSfJ/?img_index=1" rel="noreferrer noopener" target="_blank">said on Instagram</a>&nbsp;she will be in the show.&nbsp;<a href="https://www.instagram.com/p/C_2-0-WuSMq/" rel="noreferrer noopener" target="_blank">Gigi Hadid</a>, a Victoria’s Secret Fashion Show veteran, will also walk the runway, the company confirmed. Brazilian model&nbsp;<a href="https://people.com/adriana-lima-announces-she-return-to-2024-victorias-secret-fashion-show-8727934" rel="noreferrer noopener" target="_blank">Adriana Lima</a>, who spent two decades as a Victoria’s Secret model and walked in 18 of its fashion shows, will also walk the runway.&nbsp;<a href="https://www.usatoday.com/story/entertainment/celebrities/2024/10/15/victorias-secret-fashion-show-how-to-watch/75683705007/" rel="noreferrer noopener" target="_blank">Other models</a>&nbsp;set to walk include Barbara Palvin, Jasmine Tookes, Ashley Graham, Candice Swanepoel and Behati Prinsloo.



<h2 class="wp-block-heading" id="h-when-and-where-will-the-fashion-show-air">When And Where Will The Fashion Show Air?</h2>



The “pink carpet” before the show starts at 6:30 p.m. EDT Tuesday,&nbsp;<a href="https://www.victoriassecret.com/us/vs/vsinsider/fashion-show/all-access-pass" rel="noreferrer noopener" target="_blank">broadcast</a>&nbsp;live on Prime Video, as well as on Victoria’s Secret’s Instagram, YouTube and TikTok accounts. The show begins at 7 p.m. EDT, broadcast on the same channels.



<h2 class="wp-block-heading" id="h-what-controversies-did-victoria-s-secret-face">What Controversies Did Victoria’s Secret Face?</h2>



The brand faced a string of controversies in the late 2010s, including growing criticism over its lack of inclusivity for all body types. Its much-criticized “Perfect Body”&nbsp;<a href="https://abcnews.go.com/Lifestyle/victorias-secret-controversial-perfect-body-slogan/story?id=26735138" rel="noreferrer noopener" target="_blank">campaign</a>&nbsp;included photoshoots with only thin models, sparking a petition that garnered more than 30,000 signatures. One of the brand’s highest-profile models, Karlie Kloss, left the company in 2015, which she later said was because she “didn’t feel it was an image that was truly reflective of who I am and the kind of message I want to send to young women around the world about what it means to be beautiful.” Another model,&nbsp;<a href="https://www.instagram.com/p/BpBdRsenNxf/?utm_source=ig_embed&amp;ig_rid=62e25ac5-b7be-4b56-a8bc-17aa08b5bb88" rel="noreferrer noopener" target="_blank">Robyn Lawley</a>, led a boycott of the brand in 2018, alleging it tells women “only one kind of body” is beautiful. The brand faced a wave of renewed criticism in 2018 when Ed Razek, then the chief marketing officer for Victoria’s Secret’s then-parent company L Brands,&nbsp;<a href="https://www.vogue.com/article/victorias-secret-ed-razek-monica-mitro-interview?intcid=inline_amp" rel="noreferrer noopener" target="_blank">told Vogue</a>&nbsp;he doesn’t think the show should feature models who are “transsexuals,” stating: “Well, why not? Because the show is a fantasy. It’s a 42-minute entertainment special.” Razek&nbsp;<a href="https://www.hollywoodreporter.com/news/general-news/victorias-secret-backlash-ed-razeks-comments-trans-size-models-spark-outrage-1160446/" rel="noreferrer noopener" target="_blank">apologized</a>&nbsp;days later, stating: “To be clear, we would absolutely cast a transgender model for the show.” He&nbsp;<a href="https://www.retailgazette.co.uk/blog/2019/08/victorias-secret-cmo-ed-razek-quits-days-first-trans-model-hired/" rel="noreferrer noopener" target="_blank">stepped down</a>&nbsp;in August 2019, days after Victoria’s Secret cast Sampaio, its first transgender model. The&nbsp;<a href="https://www.nytimes.com/2020/02/01/business/victorias-secret-razek-harassment.html" rel="noreferrer noopener" target="_blank">New York Times</a>&nbsp;published an investigation in February 2020 alleging the company had a “culture of misogyny” characterized by “widespread bullying and harassment of employees and models,” alleging Razek was repeatedly subject to complaints of inappropriate conduct, including attempts to kiss models and touching one’s crotch. Razek said the allegations were “categorically untrue, misconstrued or taken out of context,” and the company said it is “committed to continuous improvement and complete accountability.” Former L Brands CEO, billionaire Les Wexner,&nbsp;<a href="https://apnews.com/general-news-40c85023f3854f3ebfc597d2a8e75ec3" rel="noreferrer noopener" target="_blank">apologized</a>&nbsp;in 2019 for his ties to Jeffrey Epstein, whom Wexner had employed to manage his finances until he severed ties in 2007.



<h2 class="wp-block-heading" id="h-how-has-the-company-attempted-to-shift-its-image">How Has The Company Attempted To Shift Its Image?</h2>



Victoria’s Secret replaced its “Angel” title for supermodels in 2021 with a new concept called the “<a href="https://www.cnn.com/style/article/victorias-secret-rebrand-vs-collective/index.html" rel="noreferrer noopener" target="_blank">VS Collective</a>,” a group initially composed of seven ambassadors formed to embrace diversity, including Sampaio, openly lesbian soccer player Megan Rapinoe, plus-size model Paloma Elsesser and actress Priyanka Chopra. Last year, instead of having a live fashion show, the company released a film on Amazon Prime Video titled “Victoria’s Secret: The Tour ’23” that it called “part documentary, part spectacular fashion event.” Critics noted the&nbsp;<a href="https://fashionista.com/2023/09/victorias-secret-the-tour-2023-fashion-show-review" rel="noreferrer noopener" target="_blank">casting</a>&nbsp;was more&nbsp;<a href="https://www.washingtonpost.com/style/fashion/2023/09/26/victorias-secret-fashion-show-world-tour-film-jennyfax/" rel="noreferrer noopener" target="_blank">diverse</a>&nbsp;for the special and included open discussion of topics like LGBTQ identities and bodily autonomy.



<h2 class="wp-block-heading" id="h-key-background">Key Background</h2>



The Victoria’s Secret Fashion Show was held annually between 1995 and 2018, and began broadcasting on television in 2001. The 2001 broadcast on ABC was a ratings hit, attracting 12 million&nbsp;<a href="https://www.wsj.com/articles/SB1006127270419778440" rel="noreferrer noopener" target="_blank">viewers</a>, and the show sustained that success for more than a decade, drawing nearly 10 million viewers on CBS in 2013. But ratings soon took a dive, declining year after year to a&nbsp;<a href="https://www.teenvogue.com/story/victorias-secret-fashion-show-lowest-ratings" rel="noreferrer noopener" target="_blank">new low</a>&nbsp;of just over 3 million viewers in 2018, the last show before the hiatus.



<h2 class="wp-block-heading" id="h-big-number">Big Number</h2>



$15 million. That’s how much the most expensive item ever worn at a Victoria’s Secret Fashion Show was valued to be. Model Gisele Bündchen wore the iconic “<a href="https://www.elle.com/fashion/news/g29153/victorias-secret-fantasy-bra/" rel="noreferrer noopener" target="_blank">Fantasy Bra</a>”—an item worn by one select model in each show—in 2000, the most expensive version of the bra that is worth millions each year.



<h2 class="wp-block-heading" id="h-further-reading">Further Reading</h2>



<a href="https://www.victoriassecret.com/us/vs/vsinsider/fashion-show/all-access-pass" rel="noreferrer noopener" target="_blank">Your All-Access Pass to the Victoria’s Secret Fashion Show</a>&nbsp;(Victoria’s Secret)



<a href="https://www.nytimes.com/2020/02/01/business/victorias-secret-razek-harassment.html" rel="noreferrer noopener" target="_blank">‘Angels’ in Hell: The Culture of Misogyny Inside Victoria’s Secret</a>&nbsp;(New York Times)



<a href="https://www.cnn.com/style/article/victorias-secret-rebrand-vs-collective/index.html" rel="noreferrer noopener" target="_blank">Victoria’s Secret is overhauling its image. Is it enough to regain relevance?</a>&nbsp;(CNN)

Victoria’s Secret Fashion Show 2024

Victoria’s Secret Fashion Show Returns Tonight—After Controversies Spurred Brand To Overhaul Image

<img loading="lazy" decoding="async" width="10" height="17" src="">It is a workplace reality that caring too much for your colleagues can hurt you.



It is the essence of ‘compassion fatigue’, a increasingly common concern in workplaces all around us.



Consider a librarian stacking books on a shelf designed to comfortably hold 20 volumes.



Day by day, more books are added to push the load to 30 and then 40. Eventually, the shelf buckles under the weight of twice its intended capacity.



The shelf is no longer able to perform its primary function without repair or reinforcement.



This analogy vividly illustrates the dangers of compassion fatigue – an affliction of growing concern in many workplaces.



Compassion fatigue occurs when individuals, particularly those in supervisory, management or leadership roles, find themselves absorbing the emotional stress of their team members well beyond their personal capabilities.



In the modern workplace, individuals are increasingly expected to navigate high-stress environments themselves while providing support and maintaining a high level of empathy and sensitivity towards their colleagues.



This often means they prioritize the needs of others above their own.



Over time, this unsustainable cycle leads to a breakdown and renders them incapable of assisting anyone – including themselves.



This phenomenon is characterized by a profound emotional and physical exhaustion that diminishes a person’s ability to empathize or feel compassion for others.



Originally identified among professions with high exposure to traumatic situations, in sectors such as healthcare, social work and emergency services, it is now recognized as a more widespread issue affecting individuals in a wide variety of workplaces.



For instance, nurses and doctors face daily trauma as they care for critically-ill patients, sometimes leading to emotional exhaustion and reduced empathy.



In a corporate setting, consider a project manager who oversees a high-pressure team with tight deadlines and significant client demands.



This manager constantly mediates conflicts, manages stress and provides emotional support to their team. Over time, the continuous emotional labor without adequate breaks or support can lead to compassion fatigue.



And employees in high-stress customer service roles, like call center agents, experience repetitive emotional strain from handling constant complaints, which can lead to diminished sympathy and patience.



Compassion fatigue can present differently in everyone while individuals might observe its symptoms in their personal life, their work environment or both.



Common signs include irritability, anger and anxiety, which are often accompanied by sleep disturbances such as insomnia or nightmares.



Individuals might feel burdened by the emotional demands of their roles, leading to reduced job satisfaction and a withdrawal from social interactions. Both physical and mental fatigue are common alongside a loss of enjoyment in daily activities.



There can be issues with concentration, a tendency to suppress emotions and a dread of work responsibilities – coupled with feelings of guilt.



Some might experience numbness, hopelessness or a sense of powerlessness.



Denial is also a significant barrier, preventing individuals from acknowledging their struggles and seeking help.



While compassion fatigue and burnout are often seen as the same, primarily because they both involve emotional and physical exhaustion, they differ in their origins and how they present.



Compassion fatigue arises specifically from prolonged exposure to others’ trauma or significant distress. Burnout stems from chronic workplace stress and overwork, affecting various job sectors beyond caregiving.



Recognizing these signs is crucial for safeguarding against the debilitating effects of compassion fatigue.



Prevention also requires an individual to cultivate a balance between being empathetic and maintaining emotional boundaries to prevent the over-absorption of others’ stress and emotional states.



For those who feel they might be at risk of succumbing to compassion fatigue, it is worth remembering the many adages that highlight the importance of self-care. So, heed the wisdom of adages such as “you cannot pour from an empty cup”, which underscores the importance of self-care in sustaining one’s ability to care for others.

Burnout businesswoman under pressure in the office

Expert-Speak: Compassion Fatigue – The Dangerous Descent From Helping To Hurting

Boasting an abundance of natural resources, a young workforce, a growing middle class, and a government-incentivized investment climate, Ghana is positioned as a premier investment destination in Africa. 



For generations, Ghana’s mineral wealth flowed outward, with a stream of gold, manganese, and bauxite feeding the industries of countries all across the globe. In recent years, however, the nation’s mineral resource stewardship has taken a novel shift, with a focus on adding value to its raw natural resources before they reach the global market. The establishment of a 400kg-capacity gold refinery through a public-private partnership in 2024 and the planned construction of a US$450 million manganese refinery this year, marks a bold stride towards this commitment. 



The latter is expected to raise Ghana’s revenue from manganese from the current 27% to nearly 40%, while creating 400,000 jobs for the youth. Large-scale salt mining is another positive development in the country’s economy. “We have a salt mine that is slated to become the biggest salt-producing facility in Africa. We are expanding its capacity from 650,000 metric tons of salt per annum to one million metric tons this year and to two million metric tons by 2027,” says Daniel McKorley, Executive Chairman of McDan Group. With increased demand for renewable energy sources, Ghana’s possession of copper and rare earth elements will also propel the nation to the forefront of the green mining revolution. 



Eliminating tariffs on most traded goods and encouraging regional value chains, the advent of the African Continental Free Trade Area (AfCFTA) has the potential to impact Ghana’s mining industry and other sectors. Ghanaian businesses will benefit from increased market access through the initiative, which will create a market of over 1.2 billion people and a combined GDP of US$3.4 trillion. As the designated host of the AfCFTA organization that will oversee the implementation of the agreement, Ghana plays a prominent leadership role in the initiative, one that is amplified by its strategic location within Africa. “Ghana is centrally located in Africa. It serves as a significant conduit for exports for a number of landlocked countries,” says Sam Aidoo, Executive Director of GCB Bank.  



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As one of the top recipients of foreign direct investment in West Africa, Ghana focuses on continuously improving investors’ experiences by streamlining bureaucratic procedures and offering tax incentives. Julie Essiam, Commissioner General of the Ghana Revenue Authority, says, “Ghana offers a welcoming environment for investors through several key structures. There are temporary taxation arrangements. Foreign investors can benefit from a tax rebate program offering around 5%. Manufacturers located in special economic zones such as the Accra-Tema zone enjoy significant tax breaks, with rates around 25%.” In 2019, Ghana conducted a year-long program dubbed ‘The Year of Return’ that focused on providing investment opportunities to welcome back the diaspora, boosting tourism, and attracting investment. “We have made great efforts to mobilize diaspora investment. Diaspora investors are seen as a source of stable capital, less likely to repatriate funds during periods of economic volatility,” says Alex Dadey, Executive Chairman of KGL Group. 



Building on this collaborative momentum, Ghana fosters a strong partnership with the private sector, leveraging the sector’s capital, expertise, and technology to accelerate the development of needed infrastructure and the provision of service delivery in the country. 



“The future is positive. The key lies in creating a level playing field for investors. This will unlock a domino effect, with increased investment leading to job creation, tax revenue growth, and a thriving economy. However, taking the first step is essential,” notes Mahesh Melwani, Joint MD of Melcom. This commitment to collaboration extends beyond infrastructure projects and reflects a broader national commitment to stability. 



The country has a long history of peaceful democratic transitions, making it a reliable and predictable environment for businesses to invest. Kosi Yankey Ayeh, CEO of Ghana Enterprises Agency, says, “Ghana is a beacon of democracy and stability. We’ve done pretty well as a nation. I think that successive governments and everyone have ensured that we are able to maintain stability through a peaceful transition of power with the future in mind.” From its supportive government policies to its dynamic market and focus on innovation, Ghana stands out as an attractive destination for investors seeking long-term success.

Kwame Nkrumah Circle Interchange in Ghana, Africa. Shot with a drone

Ghana: The Beacon of Democracy Part 2- West Africa’s Investment Powerhouse 

In the pristine wilderness of Gabon are the majestic and gentle Western Lowland Gorillas. A firsthand report from our travel writer on what goes into habituating them.



Sitting still in the forest with my tracker, we were awaiting the arrival of western low- land gorillas on their morning forage. And then, suddenly, as if on cue, they did, slowly but surely. In the thick ar- rowroot bush undergrowth, I noticed a juvenile western lowland gorilla staring at me through the verdant leaves. Soon, I was surrounded by juveniles, sub-adults and mothers watching me curiously. A baby gorilla and her sibling came almost 10ft from me at which time we had to hurriedly move away to keep a healthy distance – so as not to expose them to airborne human viruses. That moment still lives in me.



I am recollecting this experience from about a decade ago when visiting the Odzala-Kokoua National Park in the Republic of the Congo (ROC), also known as Congo-Brazzaville, where Dr Magdalena Bermejo, a Spanish primatologist, first habituated the western lowland gorillas in the early 1990s. Like the habituation of mountain gorillas at the Bwindi National Park in southwestern Uganda in 1991, enacting the same process for their western cousins had been a remarkable achievement.



The habituation of wild gorillas – the process of getting them to ignore the presence of humans, or be used to seeing and being around humans – has long proven to be a useful tool for research and conservation programs. It generates revenue for sustainable tourism for local communities, ends the practice of bushmeat hunting, enables detailed research on feeding ecology and social behavior in addition to protecting the forests where they live.



Mountain gorillas are large apes with long dark hair and an average weight of 440 pounds. They are to be found in mountainous areas, at elevations from 8,000ft to 13,000ft, in Uganda, Rwanda, and the Democratic Republic of the Congo (DRC); and they have adapted to freezing temperatures. Lowland gorillas, much smaller and weighing an average of 330 pounds, live in the equatorial rainforests in much warmer environments, and forage for food on adjacent swamp lands and savannah grasslands. They inhabit the countries of Gabon, Cameroon, Equatorial Guinea, the ROC and the Central African Republic (CAR).



During my Odzala trip in 2015, I was completely enamored by these gentle creatures and spent several hours watching them go about their daily lives. Over dinner once with Dr Bermejo, I learned about the difficulties and expenses of habituation, including the dangers of exposing human-borne viruses to these apes.



She said her biggest shock came when over 5,000 gorillas – including the nearly 200 animals her research group was observing – died during an Ebola outbreak in the ROC. She shared with me the research videos, captured using camera traps, of their social behavior.



In my quest to see these gorillas again, I traveled to Gabon in 2018. The country has the largest population of these animals inhabiting the Congo Basin, the world’s second-largest rainforest area after the Amazon. This second visit to see habituated gorillas took me to the Loango National Park where scientists from the Max Planck Institute from Leipzig, Germany, had begun their research since 2016.



With my interest peaking after visiting Gabon, I met Spanish conservationist Antonio Anoro, whose NGO, Gabon Untouched, has been developing eco-tourism in the country. For over a decade, Anoro has played a key role in bringing tourism to the remote Moukalaba-Doudou National Park, home to the one of highest numbers of western lowland gorillas and chimpanzees.



Gabon Untouched, in collaboration with Dr Etienne François Akomo-Okoue of IRET (Institut de Recherche en Ecologie Tropicale), have managed to protect a



17-member gorilla group – originally habituated by scientists from Kyoto University, Japan, in 2005 – for the sake of research, tourism and community development.



After yet another visit to Gabon in 2019, Anoro invited me to join his NGO as an advisor, thereby giving me an opportunity to help and also get a firsthand look at gorilla conservation and sustainable tourism development.



In 2023, Gabon Untouched and IRET launched a new program to habituate another group of gorillas. They selected an area on the perimeter of the Moukalaba-Dou- dou National Park, where intense ape activity had been noticed by villagers. Using scientific parameters proven by apex species surveys, camera traps were set up in three transects running over 2kms into the forest. Within weeks, the images of gorillas and chimpanzees approaching a nearby stream were recorded and a suitable site selected for the habituation process.



The habituation of gorillas in the tropical forests of Central Africa requires high-tracking skills prior to making the decision of which group to follow. As studies show, it is important to employ the same trackers to continue searching for gorillas in the forest – to increase their tracking skills and techniques. These abilities include finding the trails of gorillas from field signs (feces, footprint, food scraps), identifying the vocalization of gorillas and using the aforementioned techniques to locate them.



Accumulated experience in the forest and the ability to predict their location daily helps to follow trails of gorillas reliably and consistently.



Experience has shown that it takes four trackers, spending an average of nine hours per day in the presence of these animals, for habituation to take effect. Two to three years of such efforts, often accompanied by researchers, accelerate the habituation process. Silver- backs, the leaders of a gorilla family of up to 20 members, become semi-habituated within a year of regular contact. Historically, habituating females takes longer than males, and like the males, they start with avoidance, aggression and curiosity before habituation.



On my last trip to Gabon last year, I met Rodrigue Nzou, one of the leaders of community eco-tourism organization Papa Yitu in the Punu village of Doussala, at the edge of the Moukalaba-Doudou National Park.



Nzou told me: “Conservation has changed the way villagers look at wildlife. The employment from research and eco-tourism activities has stopped the hunting for bushmeat.”



It has been a tradition among the Punu people to call the silverback gorilla ‘Papa’ (chief in French). The name ‘Yitu’ means ‘hope’ in their language. As the head of Papa Yitu (hope for the gorillas), Nzou works closely with Gabon Untouched. Gabon, which is 90% forested and often called the Last Eden, is home to nearly 30,000 western lowland gorillas – that’s 25% of its estimated total population. Their protection also keeps the planet green by saving the forests where they live.

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