What Private Equity Will Mean For The NFL

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="429" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/11/https___cloudfront-us-east-2.images.arcpublishing.com_reuters_UBA56WNMY5LWDEZ67BOH74TT2U-820x429.jpg" alt="" class="wp-image-554238" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/11/https___cloudfront-us-east-2.images.arcpublishing.com_reuters_UBA56WNMY5LWDEZ67BOH74TT2U-820x429.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/https___cloudfront-us-east-2.images.arcpublishing.com_reuters_UBA56WNMY5LWDEZ67BOH74TT2U-300x157.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/https___cloudfront-us-east-2.images.arcpublishing.com_reuters_UBA56WNMY5LWDEZ67BOH74TT2U-160x84.jpg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/https___cloudfront-us-east-2.images.arcpublishing.com_reuters_UBA56WNMY5LWDEZ67BOH74TT2U-768x402.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/https___cloudfront-us-east-2.images.arcpublishing.com_reuters_UBA56WNMY5LWDEZ67BOH74TT2U-1536x804.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/https___cloudfront-us-east-2.images.arcpublishing.com_reuters_UBA56WNMY5LWDEZ67BOH74TT2U.jpg 1920w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">The head of Nigeria&#8217;s state oil company NNPC, Mele Kyari, speaks during an interview with Reuters in Abuja, Nigeria August 7, 2019. REUTERS/Afolabi Sotunde/File Photo</figcaption></figure>



ABUJA, Nov 14 (Reuters)&nbsp;&#8211;&nbsp;Nigeria&#8217;s state oil firm NNPC said on Thursday it had increased oil production to 1.8 million barrels per day (bpd), with the possibility of getting to two million bpd by year-end.



Oil production at Africa&#8217;s top crude exporter was estimated at 1.3 million bpd in October, according to producer group OPEC&#8217;s latest report. Nigeria often counts condensate production of around 250,000 bpd as part of its production.



The NNPC said the increase was a result of collaborative efforts with its joint venture operators and its partners on production-sharing contracts, alongside security agencies and the government.



&#8220;The team has done a great job in driving this project of not just production recovery but also escalating production to expected levels that are in the short and long terms acceptable to our shareholders,&#8221; NNPC CEO Mele Kyari told a press briefing.



Nigeria has been battling crude theft in its Niger Delta production region, sabotage, and local unrest, which has hampered output growth.



In June, NNPC set up a &#8216;war room&#8217; to coordinate efforts of oil partners, the government and private security personnel to stem crude theft. Since then, several vessels used in stealing crude have been destroyed and some illegal refiners arrested.



Kyari said the interventions across every segment of the production chain, supported by rigorous pipeline monitoring from security agencies, had been critical to the recovery.



(Reporting by Camillus Eboh in Abuja and Isaac Anyaogu in Lagos. Writing by Chijioke Ohuocha. Editing by Tomasz Janowski and Mark Potter)

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Nigeria lifts oil production to 1.8 mln barrels per day

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="567" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/TAKTGYGGUFIUFGNJON3QOOIO24-820x567.jpg" alt="" class="wp-image-502655" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/TAKTGYGGUFIUFGNJON3QOOIO24-820x567.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/TAKTGYGGUFIUFGNJON3QOOIO24-300x208.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/TAKTGYGGUFIUFGNJON3QOOIO24-130x90.jpg 130w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/TAKTGYGGUFIUFGNJON3QOOIO24-768x531.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/TAKTGYGGUFIUFGNJON3QOOIO24-1536x1063.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/TAKTGYGGUFIUFGNJON3QOOIO24-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">South African Rand coins are seen in this illustration picture taken October 30, 2020. REUTERS/Mike Hutchings/File Photo</figcaption></figure>



JOHANNESBURG, Nov 14 (Reuters) &#8211; South Africa&#8217;s rand was stable early on Thursday after trading turbulently in the days after Donald Trump&#8217;s U.S. election win, ahead of September&#8217;s mining production data.



At 0803 GMT, the rand traded at 18.2400 against the dollar, near its previous close of 18.2450.



Mining data for September at 0930 GMT will give clues on the health of Africa&#8217;s most industrialised economy.



The rand has lost almost 5% against the greenback since the U.S. election last week as markets expect Trump&#8217;s policies to bring higher short-term economic growth but also potentially inflationary pressures.



&#8220;It&#8217;s not only the rand that has found itself in free fall, but all emerging markets,&#8221; said Rand Merchant Bank analysts in a research note.



&#8220;This sell off is by no means negative sentiment in South Africa but rather a very buoyant dollar,&#8221; the note added.



On the Johannesburg stock market, the blue-chip Top-40 index traded 0.1% down.



South Africa&#8217;s benchmark 2030 government bond was little changed in early deals, with the yield at 9.15%.



(Reporting by Tannur Anders; editing by Philippa Fletcher)

South African Rand coins are seen in this illustration picture

South African rand stable after big losses, mining data ahead

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="720" height="425" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/06/ANCK25OQIFMHTJYACOM5XU5T24.jpg" alt="" class="wp-image-498541" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/06/ANCK25OQIFMHTJYACOM5XU5T24.jpg 720w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/ANCK25OQIFMHTJYACOM5XU5T24-300x177.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/ANCK25OQIFMHTJYACOM5XU5T24-152x90.jpg 152w" sizes="auto, (max-width: 720px) 100vw, 720px" /><figcaption class="wp-element-caption">Kenya shilling coins and notes are pictured inside a cashier&#8217;s booth at a forex exchange bureau in Kenya&#8217;s capital Nairobi, April 20, 2016. REUTERS/Thomas Mukoya/File Photo</figcaption></figure>



NAIROBI, Nov 14 (Reuters) &#8211; The Kenyan shilling weakened on Thursday due to increased demand for dollars across various sectors in the economy, one trader said.



At 0704 GMT, commercial banks quoted the shilling at 129.30/129.50 to the dollar, compared with Wednesday&#8217;s closing rate of 128.75/129.75.



(Reporting by Sonia Rao; Editing by George Obulutsa)

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Kenyan shilling weakens due to increased FX demand from various sectors

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="4032" height="1960" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/11/NB4Q7CHLRFODVLN7TXTDGJIBOY-1.avif" alt="" class="wp-image-554153"/><figcaption class="wp-element-caption">Homes are submerged in water after a massive flood in N&#8217;djamena, Chad, October 14, 2022. REUTERS/Mahamat Ramadane/File Photo</figcaption></figure>



N&#8217;DJAMENA, Nov 14 (Reuters)&nbsp;&#8211;&nbsp;The deputy director of Chad&#8217;s National Meteorological Agency waggled his finger up and down to demonstrate how a motionless humidity gauge at the agency&#8217;s headquarters should have been working.



The broken hygrothermograph was among the dustblown outdoor equipment in the capital N&#8217;Djamena that is meant to help the agency known as ANAM to track weather patterns.



The situation in Chad is replicated across much of Africa, a continent sorely lacking the reliable forecasts that are a keystone of disaster management as climate change makes extreme weather more frequent.



At COP29 climate talks on Wednesday, U.N. Secretary-General Antonio Guterres called for urgent action to overcome a shortage of data and funding. The aim is to meet a target for universal protection by end-2027 from early warning systems to help preparation for extreme weather events.



For Chad, that appears a particularly ambitious goal.



Around 80% of the devices at the agency&#8217;s site in N&#8217;Djamena are not operational, Deputy Director Hamid Abakar Souleymane told Reuters in October, as Chad battled another season of devastating floods.



&#8220;The reliability of weather information depends on the resources invested in producing it,&#8221; he said, describing a relentless push for more funding and trained personnel.



Africa, a continent of 1.5 billion people, has the world’s least developed weather and climate observation network with fewer stations operating to global basic standards than Germany, according to the World Meteorological Organization.



&#8220;There are many declared stations that exist or may not exist. In fact, many of them are not sharing data,&#8221; said Albert Fischer, director of the WMO Integrated Global Observing System division.



As of the third quarter of 2024, only two out of 53 African WMO countries were compliant with basic requirements for ground-level observation stations, Fischer said.



Being unprepared has deadly consequences. Floods not only happen more often across Africa than in Europe and North America combined, but they kill four times more people on average due to a lack of preparedness and warnings, a 2023 article in the journal Nature said.



<h2 class="wp-block-heading" id="h-no-one-warned-us">&#8220;NO ONE WARNED US&#8221;</h2>



Good weather data alone is not enough, as evidenced by deadly floods in October in Spain when some local authorities were blamed for failing to raise the alarm in time.



Chad&#8217;s plight nevertheless shows the scale of what can happen when disaster strikes one of the most vulnerable and data-poor regions on earth.



Heavier-than-usual seasonal rains in parts of West and Central Africa drove rivers to break their banks in recent months, leading to floods in every one of Chad&#8217;s provinces with 1.9 million people affected, over 570 killed, and 72,000 heads of cattle swept away.



&#8220;Everywhere is flooded. We have lost our fields of sorrel, beans, and grain. Everything is destroyed now because no one warned us of such a catastrophe,&#8221; mother-of-four Josiane Allasra said, speaking at a makeshift camp for displaced people on the outskirts of N&#8217;Djamena in late October.



&#8220;We&#8217;re hungry and we have nowhere to shelter our children.&#8221;



ANAM did not have the resources to track the worsening conditions as the disaster unfolded across a country the size of France and Spain combined.



&#8220;We have significantly less than we need. We need stations and we need funding,&#8221; Souleymane said during a tour of ANAM&#8217;s N&#8217;Djamena facilities, where stacks of old weather data spilled out over the floor of the archive and packaged equipment gathered dust.



A 2023 review of Chad&#8217;s hydromet capacity, found that it had just two trained forecasters, making round-the-clock forecasting and warning impossible.



The agency also lacks the financial and technical means to maintain a network of new automatic weather stations from the U.N. Development Programme, which anyway only covered the south and centre of the country, the report said.



&#8220;There&#8217;s a lot of wasted investment and infrastructure that is scattered &#8230; around Africa,&#8221; said Ana Heureux, programme management officer at a U.N. fund that supports countries like Chad to close their vast data gaps.



Under a five-year programme, the Systematic Observations Financing Facility (SOFF) plans to help Chad upgrade or launch 34 weather stations to global observation standards. Chad currently has one surface-land weather station.



To avoid a situation in which authorities find themselves with technology they do not have the expertise and funds to maintain, SOFF&#8217;s strategy includes making use of advisers from developed countries. Once up-and-running, countries will continue to receive SOFF support provided they share their data internationally, Heureux said.



&#8220;Finally, we have one fund that&#8217;s really dedicated to long-term support,&#8221; said the WMO&#8217;s Fischer.



Since mid-2022, SOFF has supported 23 African countries. However, its own funding outlook is uncertain. Since 2020, it has raised $94 million out of a target of $200 million by 2025.



There &#8220;has been a bit of a challenging fundraising donor environment, with everything happening in the world,&#8221; said Heureux, adding that SOFF hoped to close the gap including via a big fundraising push at COP29.



(Editing by Barbara Lewis)

NB4Q7CHLRFODVLN7TXTDGJIBOY

Africa has world’s least developed weather observation network

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="350" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1040865674-612x612-1.jpg" alt="" class="wp-image-400879" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1040865674-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1040865674-612x612-1-300x172.jpg 300w" sizes="auto, (max-width: 612px) 100vw, 612px" /><figcaption class="wp-element-caption">Stock market report. 3d illustration</figcaption></figure>



JOHANNESBURG, Nov 14 (Reuters)&nbsp;&#8211;&nbsp;The following scheduled economic event, company announcements, equity and currency market moves may affect South African markets on Thursday.



<h2 class="wp-block-heading" id="h-economic-events">ECONOMIC EVENTS</h2>



September mining production data



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



MTN Group third quarter earnings



Gold Fields third quarter operational update



Sanlam third quarter operational update



Gary Arnold named Astral Foods chief executive officer, effective Feb. 1, 2025



<h2 class="wp-block-heading" id="h-south-african-markets">SOUTH AFRICAN MARKETS</h2>



South Africa&#8217;s rand staged a recovery on Wednesday after three days of heavy losses as markets fretted over what U.S. President-elect Donald Trump&#8217;s policies could mean for trade relations, while U.S. inflation rose as expected.



On the Johannesburg stock market, the blue-chip Top-40 index was down about 0.2%.



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



Weak China markets dragged broader Asian shares lower on Thursday, while longer-dated U.S. bond yields rose alongside the dollar as investors assessed the monetary policy and inflation outlook in the world&#8217;s largest economy.



<h2 class="wp-block-heading" id="h-wall-street">WALL STREET</h2>



The Dow and the S&amp;P 500 ended slightly higher on Wednesday while the Nasdaq lost ground after October data showed consumer prices rising in line with expectations, adding support to bets that the U.S. Federal Reserve will cut interest rates in December.



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



Gold fell for a fifth straight session on Thursday to hit its lowest level in eight weeks, pressured by a stronger U.S. dollar and rising Treasury yields amid uncertainty over the pace of the Federal Reserve&#8217;s interest rate cuts.



&#8211; &#8211; &#8211; &#8211;



Some of the main stories out in the South African press:



<h2 class="wp-block-heading" id="h-business-day">BUSINESS DAY</h2>



&#8211; Government to cut state guarantees for IPPs



&#8211; Treasury releases proposal for second phase of carbon tax



<h2 class="wp-block-heading" id="h-fin-24">FIN 24</h2>



&#8211; Carbon tax: Eskom to receive &#8216;price neutrality&#8217; in phase 2



(Compiled by Tannur Anders; Editing by Rashmi Aich)

Stock market report. 3d illustration

South African Markets – Factors to watch on Nov. 14

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="408" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1.jpg" alt="" class="wp-image-524583" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-135x90.jpg 135w" sizes="auto, (max-width: 612px) 100vw, 612px" /></figure>



The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday.



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



Weak China markets dragged broader Asian shares lower on Thursday, while longer-dated U.S. bond yields rose alongside the dollar as investors assessed the monetary policy and inflation outlook in the world&#8217;s largest economy.



<h2 class="wp-block-heading" id="h-world-oil-prices">WORLD OIL PRICES</h2>



Oil prices dropped slightly early on Thursday on expectations of higher global production amid forecasts for weak demand growth, while a firmer dollar also kept a lid on prices.



<h2 class="wp-block-heading" id="h-south-africa-markets">SOUTH AFRICA MARKETS</h2>



South Africa&#8217;s rand staged a recovery on Wednesday after three days of heavy losses as markets fretted over what U.S. President-elect Donald Trump&#8217;s policies could mean for trade relations, while U.S. inflation rose as expected.



<h2 class="wp-block-heading" id="h-nigeria-petroleum">NIGERIA PETROLEUM</h2>



Nigeria&#8217;s state oil firm, NNPC Ltd said on Wednesday one of its subsidiaries has agreed to supply 100 million standard cubic feet of gas per day to the Dangote oil refinery for the next 10 years.



<h2 class="wp-block-heading" id="h-kenya-markets">KENYA MARKETS</h2>



The Kenyan shilling weakened slightly against the dollar on Wednesday, one trader said, as the U.S. currency has strengthened globally following the presidential election, increasing local demand.



<h2 class="wp-block-heading" id="h-mauritius-election">MAURITIUS ELECTION</h2>



Veteran Mauritian politician Navin Ramgoolam was sworn in as prime minister for his fourth term on Wednesday, a decade after he last left power, following his coalition&#8217;s dramatic triumph in a general election.



<h2 class="wp-block-heading" id="h-democratic-republic-of-congo-imf">DEMOCRATIC REPUBLIC OF CONGO IMF</h2>



The IMF on Wednesday said it had reached a staff-level agreement with the Democratic Republic of Congo for a new three-year, $1.77 billion economic and financial program as well as a new three-year $1.1 billion climate-focused program.



<h2 class="wp-block-heading" id="h-ivory-coast-imf">IVORY COAST IMF</h2>



Ivory Coast will create a $500 million green finance fund to support sustainable growth initiatives, the International Monetary Fund (IMF) said in a statement. 



<h2 class="wp-block-heading" id="h-zambia-central-bank-rate">ZAMBIA CENTRAL BANK RATE</h2>



Zambia&#8217;s central bank raised its benchmark lending rate by 50 basis points on Wednesday, saying inflation risks were still skewed heavily to the upside.



((Compiled by Nairobi Newsroom))

istockphoto-1076949610-612×612-1

African Markets – Factors to watch on Nov 14

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="2048" height="1365" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/11/GettyImages-1770718226-scaled.jpg" alt="" class="wp-image-554129" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/11/GettyImages-1770718226-scaled.jpg 2048w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/GettyImages-1770718226-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/GettyImages-1770718226-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/GettyImages-1770718226-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/GettyImages-1770718226-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/GettyImages-1770718226-1536x1024.jpg 1536w" sizes="auto, (max-width: 2048px) 100vw, 2048px" /><figcaption class="wp-element-caption">Schoolgirl sitting at group desk working on digital tablet</figcaption></figure>



Social media has been described as a double-edged sword. On one hand, it connects us globally, helps to break barriers and is a platform&nbsp;for&nbsp;self-expression&nbsp;and&nbsp;creativity. On the other, it is also often blamed for eroding real-world, in-person connections.&nbsp;



However, the increased penetration of internet connectivity, mobile, and smart devices in Africa has seen young people on the continent embrace the use of social media to advance their education by accessing information and learning materials in real-time, helping them connect with other learners, educators, and mentors across geographical boundaries.&nbsp;&nbsp;



To give deeper insights into how young people are using social media for education and learning, the November edition of the Mastercard Foundation EdTech Mondays Africa featured views and opinions of undergraduate students from the United States International University of Africa (USIU-Africa) in Nairobi, Kenya. The discussions contextualized how young people at higher-learning institutions use social media to research, participate in discussion groups, communicate with lecturers, and collaborate with peers on group assignments. Through social media tools and platforms, young people are understanding the world in a way previous generations did not and are gaining exposure to diverse learning experiences. &nbsp;



“I spend almost eight hours a day on social media platforms. It has influenced my learning space tremendously. It also helps me complete my assignments and meet people who are more advanced in my career path, such as data scientists,” says Martin Kyaremateng, a Ghanaian undergraduate student in Data Science and Analytics at USIU-Africa.&nbsp;



Kyaremateng, who juggles his time between 20 WhatsApp groups adds, “I have also benefited from the influx of new social media platforms such as LinkedIn and Instagram. This is the best thing that has ever happened to the world of technology because when I was in high school, we only had WhatsApp as an information-sharing tool, but a lot of my connections today come because of my presence on platforms like LinkedIn.”&nbsp; &nbsp;



Carine Ishimwe from Rwanda is another undergraduate student at USIU-Africa, pursuing a degree in Information Systems and Technology and majoring in Cyberspace and Forensics. She uses social media not only for entertainment, but as a learning tool too.&nbsp;



Ishimwe spends close to 10 hours a day on social media, interacting with other learners and educators across 50 WhatsApp groups. And while some of her activities on social media are related to entertainment, many others, she says, are related to schoolwork. “Social media has changed my life for the better. I got scholarship links from one of my friends on WhatsApp,” says Ishimwe.&nbsp;&nbsp;&nbsp;



Global studies show educators are becoming increasingly aware of social media’s effect on the learning process. According to Georgetown University, students were said to react positively whenever a teacher was willing to use social media as a learning tool since “an online chat discussing a certain book gives students the ability to open up and share their opinions.”&nbsp;



That is how Dr. Collins Oduor, an Assistant Professor of Information Systems at USIU-Africa’s School of Science and Technology, prefers to look at technology – as an interactive communication tool for both learners and educators. Dr. Oduor engages his students on the school’s WhatsApp group where important messages are shared not only within his department but university wide.&nbsp;&nbsp;



Dr. Oduor says social media has opened up and enlarged the scope of education, since students are learning to do more research, learn more than what is presented in lectures, and assess the information&#8217;s value. It also makes student-teacher communication more convenient.



“My work has become very easy in terms of reaching out directly to the students because social media gets us close with each other in terms of breaking the barriers. I am able to reach them at any time, even after the official hours. They can also reach out to me at any given time. To me, the benefits of social media far outweigh the disadvantages,” says Dr. Oduor.&nbsp;



Dr. Oduor advises that rather than reduce their use of social media, learners need to be empowered to learn how to use it productively so that when they come to class, they can share meaningful ideas, have deep discussions, and see how the knowledge acquired can be applied for better outcomes.&nbsp;



However, there are also the dangers that come with the uncontrolled use of social media. Grace Makwaza, a student from Lesotho studying International Relations and Criminal Justice at the university, says she thinks social media presents a “challenge [to] our intrinsic values as human beings”.&nbsp;



Makwaza urges young people to strike a balance, rather than categorize social media as a good or bad tool. “Social media is a tool. However, the moment I see myself spending more than 12 hours there, I question my capacity to hold on to my value of discipline. Perhaps that discipline is not as strong as it is supposed to be,” she says. “So more than anything, I think we need to gauge how strong our intrinsic values are, instead of polarizing social media as either a good or a bad tool.”&nbsp;&nbsp;



Another major drawback of social media is the distraction caused by the constant flow of information. During class or examination time, Dr. Oduor ensures that school rules regulating the use of social media are strictly adhered to, including the prohibition of using phones in the exam room “unless the exam is an open book.”&nbsp;&nbsp;



There are also fears that social media distraction can interfere with the learning of subjects that require strict discipline. Jennifer Bessie, a Psychology student, says her professors will not allow them to be distracted by phones because that will interfere with work ethics as practicing psychologists in future.&nbsp;According to Bessie, uncontrolled use of social media is detrimental to the emotional and mental growth of learners in the younger brackets.&nbsp;



&#8220;As a student in the psychology field, we have learnt much about cyber bullying and its effects on mental health.&nbsp;Teenagers and other young learners have started to compare themselves with what they see on social media and that is very worrisome. Too much screen time affects the development of such young children,” she says.&nbsp;



However, Bessie says social media has key advantages&nbsp;in psychology, including online counselling.&nbsp;



“Due to the limited number of psychologists in the world and the rise in mental health issues, we found out that having online tools at USIU-Africa&#8217;s counselling centre where I trained as a peer counsellor is good because&nbsp;we can have online counselling sessions with those we can&#8217;t meet physically. You can still get in touch with such people and help them manage certain mental health issues. So, social media may have some distractions, but it has a lot of mental health advantages for those of us in the psychology field,” says Bessie.&nbsp;



Dr. Oduor says that “most institutions of learning do not have social media policies,” a challenge that both governments and learning institutions share.&nbsp;



As a way forward, he suggests that there is a need to craft policies that support the use of social media to achieve the true impact in education across board.&nbsp;



While more public schools are embracing usage of tablets and adding computer literacy to curricula, a lot more work needs to be done to streamline national and institutional-wide policies to promote positive use of social media in the learning environment. &nbsp;



With social media now an invaluable tool for learning in education and the work environment, such policies will need to be both protective and productive, unlike the reactive nature of current laws. In the meantime, it will require discipline and parental regulation on screen time for young learners, for all to benefit from social media while avoiding unintended drawbacks.&nbsp;



<div class="wp-block-group"><div class="wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained">
<h3 class="wp-block-heading" id="h-watch-the-full-episode">Watch the full episode:</h3>



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</div></div>

The Impact of Social Media on Education and Learning in Africa

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/11/UP2NUJ3FC5MHFCYLXSKRKTCMZA-820x547.jpg" alt="" class="wp-image-554111" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/11/UP2NUJ3FC5MHFCYLXSKRKTCMZA-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/UP2NUJ3FC5MHFCYLXSKRKTCMZA-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/UP2NUJ3FC5MHFCYLXSKRKTCMZA-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/UP2NUJ3FC5MHFCYLXSKRKTCMZA-768x513.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/UP2NUJ3FC5MHFCYLXSKRKTCMZA-1536x1025.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/UP2NUJ3FC5MHFCYLXSKRKTCMZA-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A supporter of Senegal&#8217;s Prime Minister and the head of the ruling Pastef party Ousmane Sonko reacts as he attends a campaign rally for the upcoming early legislative election, in Guediawaye on the outskirts of Dakar, Senegal, November 13, 2024. REUTERS/Zohra Bensemra</figcaption></figure>



DAKAR, Nov 14 (Reuters)&nbsp;&#8211;&nbsp;Senegal will vote in legislative elections on Sunday that will determine whether the new president and government can gain control over the national assembly and push through their agenda for reforms.



The high stakes in the election are threatening to spark renewed unrest following a period of calm. The run-up to the presidential election in March saw some of the worst violence in the country&#8217;s recent history.



Campaigning has grown heated in recent days and comes at a precarious time for the new government, which is navigating a spiraling fiscal crisis that could undermine its ability to deliver on promises to boost the economy and create jobs.



Prime Minister Ousmane Sonko, known for his fiery rhetoric, said this week that his supporters had come under attack and urged them to take revenge. He has also warned that restraint should not be mistaken for weakness.



&#8220;Let them not say that we&#8217;ve changed and that since we came, everyone can do as they please,&#8221; he said on Tuesday evening. &#8220;We could have used our strength, but we didn&#8217;t.&#8221;



Top priorities for Senegalese voters are jobs and the economy, as inflation has squeezed livelihoods and the nation&#8217;s growing youth population struggle to find employment.



More than 7 million registered voters will have the chance to vote for candidates for the 165 seat-assembly, choosing between 41 registered parties or other entities. Polls open at 8 a.m. (0800 GMT) and close at 6 p.m.



&#8220;We want a lower cost of living, affordable water, electricity, and transport, so everyone can work and live decently,&#8221; said Cheikh Diagne, a street seller in downtown Dakar.



Babacar Ndiaye, research director at the think-tank WATHI, said that Senegalese have historically voted in favour of the president during previous parliamentary elections.



&#8220;When they choose a president, they then give that president the means to work and govern,&#8221; he said. &#8220;Every time a president has won, he has in due course also gained an absolute majority in the National Assembly.&#8221;



The West African country is plunging towards a debt crisis after the new government said it had discovered the budget deficit was much wider than reported by the previous government. A $1.9 billion IMF programme is on hold while the government audit is reviewed.



The main threat to the ruling party Pastef&#8217;s ambitions is the unexpected alliance of two opposition parties, including the Republic party (APR) headed by the former Prime Minister Macky Sall.



The race also includes two smaller opposition coalitions. The one led by Dakar&#8217;s mayor, Barthelemy Dias, has clashed with supporters of Pastef.



Mariam Wane Ly, a former parliamentarian and trailblazer for women in politics in Senegal, said the campaign period had given leaders a chance to explain their agendas and she expected Pastef to win the majority it is seeking.



&#8220;I think it&#8217;s going to make up for all the unhappiness,&#8221; she said.



(Additional reporting by Portia Crowe; Editing by Alex Richardson)

Campaign rally for the early legislative elections in Dakar

Senegal heads to the polls amid fiscal crisis, threat of unrest

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="540" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/05/YPMFQQSS3NLHLJL3LP32C774LE-1-820x540.jpg" alt="" class="wp-image-486141" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/05/YPMFQQSS3NLHLJL3LP32C774LE-1-820x540.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/YPMFQQSS3NLHLJL3LP32C774LE-1-300x198.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/YPMFQQSS3NLHLJL3LP32C774LE-1-137x90.jpg 137w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/YPMFQQSS3NLHLJL3LP32C774LE-1-768x506.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/YPMFQQSS3NLHLJL3LP32C774LE-1-1536x1012.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/YPMFQQSS3NLHLJL3LP32C774LE-1-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A shopper walks past a Vodacom shop in Johannesburg, file. REUTERS/Siphiwe Sibeko/File Photo</figcaption></figure>



CAPE TOWN, (Reuters) &#8211; South Africa&#8217;s biggest mobile operator Vodacom is looking at taking a new low-price phone that uses the cloud to offer smartphone-style features to other African markets, an executive said on Wednesday.



Mobile internet penetration in sub-Saharan Africa was just 27% at the end of 2023, with millions struggling to access services because smartphones are too expensive or network coverage unavailable, according to the GSMA industry body.



The South African unit of Vodacom, majority-owned by Britain&#8217;s Vodafone, recently launched a cloud-based smart feature phone, which is manufactured by South African mobile phone firm Mobicel. Vodacom is a reseller.



Vodacom introduced it as a way to reduce the cost of smartphone access and to accelerate migrating customers from legacy 2G and 3G networks to modern 4G networks as South Africa starts phasing out these older networks.



&#8220;We have sold roughly a bit less than 100,000 devices in South Africa,&#8221; Davide Tacchino, managing executive for terminals at Vodacom South Africa, told Reuters at the Africa Tech conference, adding that the company was seeing interest from customers and distributors.



&#8220;At this stage, it&#8217;s South Africa, but we are evaluating to expand in the other markets.&#8221;



The phone, retailing at 199 rand ($11), leverages the power of cloud computing to deliver a range of features typically associated with entry smartphones at a more affordable cost.



It comes with popular applications such as YouTube, TikTok and Facebook, all accessed via the cloud, giving users a &#8220;smartphone lite&#8221; experience.



Mobile operators are racing to shift their customers to 4G and 5G networks as South Africa has proposed gradually phasing out and shutting down older networks by the end of 2027.



As well as introducing more affordable devices, operators are offering pre-paid device financing options, but they have also asked the government to cut taxes on smartphones.



South Africa&#8217;s Communications Minister Solly Malatsi told Reuters on Tuesday that he had held encouraging preliminary talks with the Treasury about his proposals to cut those taxes.



($1 = 18.1781 rand)



(Reporting by Nqobile Dludla. Editing by Mark Potter)

FILE PHOTO: A shopper walks past a Vodacom shop in Johannesburg

S.Africa’s Vodacom eyes taking cloud-based phone to other African markets

How AI is helping brands identify consumer trends faster

Meta and Snap both unveiled augmented reality smart glasses

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="1200" height="628" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/11/CMEP-socials-02_03.jpg" alt="" class="wp-image-553828" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/11/CMEP-socials-02_03.jpg 1200w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/CMEP-socials-02_03-300x157.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/CMEP-socials-02_03-820x429.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/CMEP-socials-02_03-160x84.jpg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/CMEP-socials-02_03-768x402.jpg 768w" sizes="auto, (max-width: 1200px) 100vw, 1200px" /></figure>



A mid-career executive program opens perspectives to market development in emerging economies



It’s a recurring problem in developing countries. Governments and local businesses lack the liquidity to finance pressing development projects and priorities. Borrowing money from distant financial hubs leaves them vulnerable to currency fluctuations.



This underscores the urgent need to develop local capital markets that connect investors to the critical needs of the economy. By doing so, these markets can reduce dependence on foreign debt and support stable growth. Yet in developing countries, capital markets often struggle to thrive, increasing the demand for knowledge sharing to advance their development.



In 2016, International Finance Corporation, the private-sector arm of the World Bank Group, partnered with the Milken Institute to create an ambitious program to transfer that knowledge by building the capacity of capital market regulators and financial professionals in middle- and lower-income countries.



The program equips participants with advanced skills, knowledge, and experience to develop effective and sustainable local capital markets in their home countries. In 2021, the English program was expanded to include francophone countries in partnership with Paris Europlace.



So far, the <a href="https://ifc.org/cmp">Capital Markets Postgraduate Program</a> has brought 270 officials from 64 developing and emerging economies to George Washington University in Washington, D.C., USA and Université Paris Dauphine-PSL in Paris, France. In August 2024, the U.S. side of the program moved to Georgetown University.



The participants undergo nine months of rigorous training on financial markets and on how they can be leveraged to address their home countries’ development needs.



Just as important as the training itself is the networking in the years that follow. Graduates return home and exchange ideas and expertise with each other and other colleagues, mentoring junior staff and sharing knowhow.



IFC recently carried out a <a href="http://wrld.bg/yTIf50TokT3">survey</a> of the program’s graduates on their professional growth and impact. It’s a diverse bunch—officials from the central banks of Madagascar, Egypt, and Botswana, regulators from Kenya, Pakistan, Uzbekistan, and the Philippines, to cite but a few examples. What joined them was a conviction that the program had helped their careers and given them useful knowledge they could share with colleagues.



At their home institutions, a striking 77% of respondents reported taking on new responsibilities, highlighting a significant shift in their roles. Nearly half said they were promoted, and 94 percent said they had gone on to mentor others with the knowledge derived from the program—a good sign that vertical knowledge-sharing has led to the horizontal variety, as the program’s designers had hoped.



The program has spread valuable knowledge across ministries of economy and finance, central banks, securities and exchange commissions, and stock exchanges throughout the emerging market economies.



Testimonies reflected these gains. After graduating in 2017, Christopher Legilisho was closely involved in helping the Nairobi Securities Exchange get approvals from the central bank to establish a derivatives market—which strengthens investors’ participation through a more efficient distribution of risk and allows domestic companies to access long-term financing.



Leah Simasiku joined a green-finance working group at Zambia’s Securities and Exchange Commission that helped design the country’s first green bond—a $200 million issuance for renewable energy. “When I have a new project, I search the network and find out which jurisdictions have done something similar,” said Simasiku, so her team can work on innovative capital markets products “without having to reinvent the wheel.”



“You always have someone to ring,” says Kenya’s Kefa Michael Ngoiri. “You can discuss something over the phone and before you know it, you’ve come up with a solution.”



The program has helped officials gauge the power of capital markets to strengthen their economies. “We have an economy that is so vast, so rich in every aspect. But we have a capital market that is yet to grow to its potential. In a country of over 200 million people, you have a listing of just 150 to 200 public companies,” said Dr. Timi Agama, a 2017 graduate who, in 2024, became Director General of <a>Nigeria’s Securities and Exchange Commission.</a>



Through the Capital Markets Postgraduate Program, education is proving to be a foundation for advancing local capital markets—one of development’s most critical and promising areas.



Click <a href="http://wrld.bg/yTIf50TokT3">here</a> to download IFC’s Capital Markets Postgraduate Program report.

CMEP-socials-02_03

Teaching Capital Markets

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/TE3RFSDQENJTFFYC6SW6PIPCBE-820x547.jpg" alt="" class="wp-image-529685" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/TE3RFSDQENJTFFYC6SW6PIPCBE-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/TE3RFSDQENJTFFYC6SW6PIPCBE-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/TE3RFSDQENJTFFYC6SW6PIPCBE-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/TE3RFSDQENJTFFYC6SW6PIPCBE-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/TE3RFSDQENJTFFYC6SW6PIPCBE-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/TE3RFSDQENJTFFYC6SW6PIPCBE-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: The International Monetary Fund (IMF) headquarters building is seen ahead of the IMF/World Bank spring meetings in Washington, U.S., April 8, 2019. REUTERS/Yuri Gripas/File Photo</figcaption></figure>



NAIROBI, Nov 13 (Reuters) &#8211; The International Monetary Fund should sell 4% of its gold to help offer debt relief to low income countries devastated by climate-related catastrophes, a study said as climate financing dominates early talks at the COP29 summit.



From the Caribbean to Africa, low income countries have turned to the IMF in recent years for support in the face of shocks like the COVID-19 pandemic, driving up repayments to the lender of last resort in subsequent years.



Although the IMF has a facility known as Catastrophe Containment Relief Trust (CCRT), this only covers 30 poor countries and has just $103 million available, said researchers from the Boston University Global Development Centre.



The CCRT is used to pay off an eligible member state&#8217;s loans to the IMF for up to two years, providing immediate relief and allowing those funds to be targeted at other priorities.



&#8220;Many climate-vulnerable countries have been unable to access the CCRT as its eligibility criteria fails to account for climate vulnerability &#8230; and funding is severely limited,&#8221; the researchers said in a report.



The solution lies in selling some of the IMF&#8217;s 90.5 million ounces of gold reserves, the report said, taking advantage of elevated prices to boost the fund and cover more countries.



Selling 4% of the IMF&#8217;s gold would generate $9.52 billion, the study said, covering debt relief for 86 countries.



&#8220;With current gold prices exceeding $2,600 per ounce, selling a small fraction of gold has the potential to generate significant revenues and easily replenish the CCRT,&#8221; it said.



Gold was trading at $2,606.42 per ounce on Wednesday.



IMF gold reserve sales are rare. The last was in 2009/10, when it offloaded an eighth of its reserves, which was triggered by the need to boost its lending capacity.



At its inception in 1944, member states used to pay their IMF quotas with gold, the research report said, meaning it accumulated reserves at a historical cost of just $45 per ounce.



Repayments of IMF loans are taking a bigger chunk of annual debt servicing costs for vulnerable economies, the report said.



The Indian Ocean island of Madagascar will pay $106 million to the IMF next year, a quarter of its debt service, rising to $158 million and 41% in 2026, the report added.



Mozambique will also experience an increase in repayments to the IMF during a similar period, the researchers found.



Any sale of IMF gold would require support from the bulk of its executive board members, and for member states to pledge to channel their share of the proceeds to the CCRT, they said.



&#8220;Replenishing the CCRT should be considered a high priority because, in contrast to other IMF lending programs, the CCRT comes with no conditionality,&#8221; they concluded.



(Reporting by Duncan Miriri; Editing by Alexander Smith)

FILE PHOTO: The International Monetary Fund (IMF) headquarters building is seen ahead of the IMF/World Bank spring meetings in Washington

IMF urged to cash in on gold price to help poor countries hit by climate change

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="546" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/11/GettyImages-452758655-820x546.jpg" alt="" class="wp-image-553742" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/11/GettyImages-452758655-820x546.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/GettyImages-452758655-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/GettyImages-452758655-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/GettyImages-452758655-768x511.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/GettyImages-452758655-1536x1022.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/GettyImages-452758655-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">JOHANNESBURG, SOUTH AFRICA &#8211; DECEMBER 01: Danny Jordaan (SAFA president) during the arrival of the FIFA World Cup Trophy at Lanseria Airport on December 01, 2013 in Johannesburg, South Africa. (Photo by Lee Warren/Gallo images)</figcaption></figure>



JOHANNESBURG, Nov 13 (Reuters)&nbsp;&#8211;&nbsp;South African Football Association (SAFA) President Danny Jordaan was arrested on Wednesday over allegations he used the organisation&#8217;s money for his own purposes, according to local media reports.



Jordaan, who was a leading figure in bringing the 2010 World Cup to South Africa, had tried to interdict his imminent arrest on Tuesday, but the Johannesburg High Court is only scheduled to hear his submission on Thursday.



The arrest stems from a raid by police on the SAFA offices in March, after which police spokesperson Katlego Mogale said the allegations are that &#8220;between 2014 and 2018, the president of SAFA used the organisation&#8217;s resources for his personal gain, including hiring a private security company for his personal protection and a public relations company, without authorisation from the SAFA board.&#8221;



Jordaan, 73, and his reported co-accused, SAFA chief financial officer Gronie Hluyo and businessman Trevor Neethling, are due to appear in court later on Wednesday.



Neither Jordaan nor SAFA responded to a request for comment from Reuters, but in his affidavit to court seeking to block his arrest, he denies any wrongdoing.



(Reporting by Nick Said; Editing by Christian Radnedge)

FIFA World Cup Trophy arrives at Lanseria Airport

South Africa FA president Danny Jordaan arrested

The World Bank and other IFIs should get serious about climate adaptation in low-income countries

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="2048" height="2048" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/11/HONOR-AfricaCom_1-scaled.jpeg" alt="" class="wp-image-553716" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/11/HONOR-AfricaCom_1-scaled.jpeg 2048w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/HONOR-AfricaCom_1-300x300.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/HONOR-AfricaCom_1-800x800.jpeg 800w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/HONOR-AfricaCom_1-90x90.jpeg 90w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/HONOR-AfricaCom_1-768x768.jpeg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/HONOR-AfricaCom_1-1536x1536.jpeg 1536w" sizes="auto, (max-width: 2048px) 100vw, 2048px" /></figure>



[Cape Town, South Africa – 12 November 2024] — HONOR, a global technology leader, spearheaded a panel discussion at AfricaCom and was joined by prominent leaders from Google and Cell C to explore how artificial intelligence (AI) and foldable smartphones are set to revolutionise the African market and transform people’s lives.



The fireside chat, led by Fred Zhou, CEO of HONOR South Africa featured Jorge Mendes, CEO of Cell C and Vinod Nenwani, Android Partnerships for North and South Africa at Google. The panel shed light on the potential of emerging technologies to drive sustained growth, boost digital inclusion, and accelerate connectivity across Africa. It also highlighted the need for collaboration among multiple stakeholders to fully unlock the continent’s digital potential.



In the discussion, HONOR reiterated its commitment to leveraging AI for good and working with stakeholders. “HONOR ensures it follows local regulations wherever we operate. We support the Ministry of Communications and Digital Technologies’ balanced approach to unlock AI&#8217;s full potential while ensuring its equitable benefits for all Africans,” says Fred Zhou, CEO of HONOR South Africa. In particular, HONOR shares the Ministry’s belief that responsible AI deployment must serve the greater good without compromising fundamental human rights.



<h2 class="wp-block-heading" id="h-revolutionising-connectivity-and-inclusion-through-innovation">Revolutionising connectivity and inclusion through innovation</h2>



The panelists emphasised that AI-powered smartphones and the proliferation of devices represent a new era in mobile technology. These innovations promise to make technology more accessible, intuitive, and beneficial for people in Africa. By improving user experiences, expanding possibilities for multitasking, and driving new applications for both personal and professional use, these advancements could significantly elevate the quality of digital life for millions.



“Technology has the power to change lives, and the amazing capabilities of smartphones is allowing us to use it for education and driving the growth of the digital economy,” comments Mendes. “We’re committed to working closely with partners like HONOR to ensure these advancements contribute meaningfully to bridging the digital divide.”



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="2048" height="2048" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/11/HONOR-AfricaCom_2-scaled.jpeg" alt="" class="wp-image-553717" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/11/HONOR-AfricaCom_2-scaled.jpeg 2048w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/HONOR-AfricaCom_2-300x300.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/HONOR-AfricaCom_2-800x800.jpeg 800w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/HONOR-AfricaCom_2-90x90.jpeg 90w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/HONOR-AfricaCom_2-768x768.jpeg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/HONOR-AfricaCom_2-1536x1536.jpeg 1536w" sizes="auto, (max-width: 2048px) 100vw, 2048px" /><figcaption class="wp-element-caption">From Left: Fred Zhou, HONOR South Africa CEO, Minister of Communications and Digital Communications, Solly Malatsi and Daniel Wang, President of MEA, HONOR</figcaption></figure>



<h2 class="wp-block-heading" id="h-honor-s-commitment-to-africa-s-digital-economy">HONOR’s commitment to Africa’s digital economy</h2>



HONOR’s involvement in the discussion comes as the company continues to make major investments in the South African economy, with over R400 million invested to date. These contributions include support for impactful initiatives such as the Youth Employment Service (YES) Program and the Code with HONOR initiative, which focuses on empowering the next generation with technological skills.



“HONOR is deeply committed to fostering local innovation and youth empowerment in South Africa,” add Zhou. “Our investment in projects like the YES Program and Code with HONOR not only supports job creation but also ensures young people are equipped with the skills needed to thrive in the digital age.”



<h2 class="wp-block-heading" id="h-the-role-of-collaboration-for-sustained-growth">The role of collaboration for sustained growth</h2>



The technology leaders agreed that the future of Africa’s smartphone market depends on multi-stakeholder collaboration. By working together, companies can address the unique challenges of the continent, from infrastructure limitations to affordability and digital literacy. Vinod Nenwani,&nbsp; Android Partnerships for North and South Africa, highlighted the importance of partnership-driven efforts to sustain rapid growth and economic development.



“What we are seeing is a platform shift. As we continue our mission to make information universally accessible, Google is dedicated to enhancing connectivity across Africa,” explains Nenwani. “As responsible players, we can ensure that the technology reaches even the most underserved communities, providing opportunities for economic empowerment and inclusion.”



Commenting on how AI needs to be inclusive, Zhou explains how the brand is making AI features accessible even in its midrange devices, a differentiator he believes to be paramount.



HONOR marked its debut participation at AfricaCom 2024 where it hosted a walk-through with the Minister of Communications and Digital Technologies, Solly Malatsi, showcasing its industry-leading technology.

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Teaching Capital Markets

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The World Bank and other IFIs should get serious about climate adaptation in low-income countries

HONOR Spearheads Dialogue on the Future of the Smartphone Industry, Echoes Transparent and Ethical Use of AI

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home

What Private Equity Will Mean For The NFL

Nigeria lifts oil production to 1.8 mln barrels per day

South African rand stable after big losses, mining data ahead

Kenyan shilling weakens due to increased FX demand from various sectors

Africa has world’s least developed weather observation network

South African Markets – Factors to watch on Nov. 14

African Markets – Factors to watch on Nov 14

The Impact of Social Media on Education and Learning in Africa

Senegal heads to the polls amid fiscal crisis, threat of unrest

S.Africa’s Vodacom eyes taking cloud-based phone to other African markets

How AI is helping brands identify consumer trends faster

Meta and Snap both unveiled augmented reality smart glasses

Teaching Capital Markets

IMF urged to cash in on gold price to help poor countries hit by climate change

South Africa FA president Danny Jordaan arrested

The World Bank and other IFIs should get serious about climate adaptation in low-income countries

HONOR Spearheads Dialogue on the Future of the Smartphone Industry, Echoes Transparent and Ethical Use of AI

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