Ashinaga, an NGO that provides educational, financial and emotional support to orphaned young people around the world is offering a scholarship opportunity we are offering to orphaned young people from sub-Saharan Africa. Ashinaga’s 100 Year Vision Scholarship covers full tuition costs for African students to complete an undergraduate university degree abroad, as well as accommodation, travel and living expenses. The Scholarship also includes university application support and tutoring during a 5-month study camp. Ashinaga welcomes applications from any young person under the age of 22, who has already completed high school and who has lost one or both parents. The deadline for applications to the 100 Year Vision Scholarship Program this year is 29 February. More information about Ashinaga and the 100 Year Vision Scholarship can be found in the attached brochure and newsletter. The Scholarship application form can be found online here: ashinaga100-yearvision.org/en/year100/english.html. For any inquiries, please contact; admissions.en@ashinaga.org (English).

The Commonwealth Foundation has opened for applications from civil society organisations in the UK that have a project in an eligible Commonwealth Foundation member country. The Commonwealth Foundation offers grants for sustainable development projects that contribute to effective, responsive and accountable governance with civil society participation. The Commonwealth Foundation’s grants programme, which first opened for applications three years ago, provides grants of up to £30,000 to registered civil society organisations whose beneficiaries are from a Commonwealth Foundation member country. To be eligible for the funding, projects must take place in an eligible Commonwealth Foundation member country and address one of the following focus areas: Creative expression, Capacity development for civil society organisations engaging in policy advocacy that wish to have a stronger voice and message to effect change; Constructive engagement for civil society organisations working to participate effectively in a constructive engagement process with institutions in governance and/or the private sector; Learning and sharing for civil society organisations working on a policy/advocacy issue who wish to adapt a model of good and fit practice from another organisation, to help deliver their organisation’s work; The SAMOA Pathway for civil society organisations that wish to engage in the implementation of the SAMOA Pathway in their country. Applicants are encouraged to integrate the cross cutting theme of gender into the project design. There is a two-stage application process. The deadline for preliminary application forms is 5 January 2016 (5pm). Shortlisted applicants will be invited to submit a full application in March 2016. Full details, including the revised guidelines, can be found on the Commonwealth Foundation website

The world's largest youth leadership development organisation AIESEC, has released the results of its first YouthSpeak report​ on millennials worldwide. According to the report, the 42,257 millennials surveyed are increasingly worried about the widening gap between education and employment. Universities are not connected to their future goals and employers do not engage with them in a meaningful way. This also means that educators and employers who are making that strong connection with millennials stand out in the race for vital talent. Worldwide, millennials say they are lacking career guidance and support that would help them understand what they need for the ideal post-graduation career. Education was also given a very poor NPS (Net Promoter Score) globally, with millennials rating their satisfaction with their university experience at -42. Young people around the world are not satisfied with what they are getting out of their university experiences in connection to their future goals. With university advisors ranking last in the report's list of influencers to support career decisions, there is a bigger story to be told surrounding the role of universities. For most millennials beyond technical backgrounds, their degrees have not given them the value they were looking for. 53% of millennials see a disconnection between what they are learning today versus what they will need tomorrow. But it is not just the educators who can bridge this gap. One of the most important conclusions from the YouthSpeak survey is that students and employers have a vital role to play too. The YouthSpeak survey also looks at millennials' approach to work. One of the conclusions is that the notion of working nine-to-five, earning a high salary and having extensive vacation time is outdated. It's not so much about a work-life balance, but more about a work-lifestyle. Millennials seek global experiences as a highly valued method of learning and development. They need an environment in which they can constantly learn, grow and explore new opportunities. Combined with the fact that 64.1% of YouthSpeak respondents state that they aspire to hold a leadership or senior decision maker position in the future, it serves as a reminder for employers of the ambitious nature of millennials and how they want to hold responsibility in their jobs. If they want to attract these future leaders, employers need to develop an entrepreneurial work culture and an environment where the office becomes a hub of creativity.

Women overwhelmingly consider gender and racial diversity as essential to the success of US corporate boards, yet only about one-third of men feel that way, according to a report released last week. PricewaterhouseCoopers received responses from 783 public company directors to its 2015 Annual Corporate Directors Survey. The report found that 63 percent of female directors described gender diversity as a “very important” attribute for a board, compared to only 35 percent of male directors. Similarly, 46 percent of female directors describe racial diversity as “very important,” compared to only 27 percent of their male counterparts. Of the directors who responded to the survey, 74 percent serve on the boards of companies with more than $1 billion in annual revenue. Participants were 86 percent male and 14 percent female. Blacks, Latinos and Asians make up a smaller percentage of corporate boards, totaling 7.4 percent, 3.3 percent and 2.6 percent respectively at Fortune 500 companies. While 95 percent of directors who responded to the survey view diversity as at least a “somewhat” important attribute, more than 70 percent “somewhat” believe there are impediments to increasing board diversity. The top obstacle cited was the opinion that there is a limited pool of diverse director candidates. According to the survey, 46 percent of female directors said there were enough diverse candidates to choose from, while just 18 percent of men felt there were enough candidates. Women also were much more likely than men to understand the impact of having a diverse board. Women were twice as likely to “very much” believe diversity leads to enhanced board effectiveness, and 74 percent of female directors “very much” agreed that board diversity leads to enhanced company performance. Only 31 percent of males agreed. Meanwhile, newer directors place a much higher value on board diversity than long-serving directors, the survey found, noting that 62 percent of people who had spent less than a year on a board said they “very much” agreed that diversity was crucial. Just 39 percent of people who had the job for more than 10 years felt as strongly.

The gender pay gap is changing at a stubbornly slow rate despite overall wage increases, and growing calls for pay equality, the latest Office for National Statistics (ONS) data has revealed. Figures from its Annual Survey of Hours and Earnings report reveals the UK’s gender pay gap only improved by 0.2 percentage points in the last year, as the difference between what men and women earn fell from 9.6 per cent to 9.4 per cent. As it stands, this means women earn about £100 per week less than their male peers. Men working full time earn an average of £567 a week, while women earn £471. At such glacial pace of improvement, the TUC predicts the gender pay gap will take 50 years to close completely. However, while the gender pay gap for the UK only improved by fractions of a percentage, Scotland was found to have made better progress with its gap narrowing by a whole 1.8 percentage points to 7.3 per cent. Not all sectors share the same pay differences. The sector where the pay gap is at its widest is the skilled trades sector – where the gap stands at 24.6 per cent, while in sales, the gap is at its smallest – just 4.3 per cent.

Innovative ideas give a business the edge over competitors but research has revealed that employers are missing out on 18,000 of these opportunities a year because they don’t listen to their staff. Research with more than 1,000 employees, by idea management software firm Wazoku, found that each UK worker, in a company with 500 or more staff, suggests six innovative ideas to improve their business each year on average. Employee ideas that could add value to the bottom line are lost because of a lack of processes to collect and develop them effectively, a survey by the software firm suggested. More than half (52 per cent) of employees questioned told researchers that although their organisation is full of people with great ideas, there is no established process for them to be shared and filtered. And 59 per cent of respondents said that suggestions they make about improving business processes are frequently ignored. Of the suggestions that are acknowledged by management, 39 per cent are implemented and positively impact the organisation. However, only 43 per cent of ideas are even acknowledged by employers. The research findings are outlined in The EveryDay Innovation Report, which was produced with Cisco, Waitrose, Great Places to Work and The Future Shapers. 

Professional services firm PwC is to launch a returnship programme to help people in the UK back into work after an extended break. The 12-week scheme ‘Back to Business’ is open to all applicants, however, it is predominately aimed at women wishing to return to work. Under the PwC scheme, participants will receive a week-long induction with training, which will cover both the firm’s processes and procedures, including IT and softer skills such as personal brand, resilience, and networking. People on the programme will also have the opportunity to work on client-facing projects that draw on their experience and existing knowledge. PwC said it hopes the scheme will improve diversity at the firm and strengthen their pipeline of female future leaders. Already popular in the USA, returnships, are becoming more common in the UK. Returnship programmes were recommended by Project 28 - 40, a piece of research commissioned by Opportunity Now and conducted by PwC last year. It found that many women on career breaks wanted to return to work but were worried about their progression prospects (56 per cent) and being barred from the best opportunities (51 per cent). A recent study by WorkingMums.co.uk revealed similar results. Just under half (48 per cent) of the 2,300-plus mothers surveyed said they had been unable to find a job in their field after taking time out, despite 61 per cent of those reporting that they enjoyed work so much that they would continue to do so even if money wasn’t an issue. Women’s fears about being frozen out of the best career routes are not unfounded, with research from the Equality and Human Rights Commission suggesting that more than 50,000 new mothers are forced out of work every year, with 11 per cent reporting that they have been either shut out at work or treated so poorly that leaving was their only option.

Almost a quarter (23 per cent) of people, which is equivalent to 12.6 million people, in the UK lack at least one of five digital skills deemed important by digital skills charity Go ON UK. The basic digital skills measured by the charity in their Basic Digital Skills UK report, 2015 are managing information, communicating, transacting (including buying and selling goods online), problem solving and creating basic digital content. Older people fared poorly, with basic digital skills starting to decline in the 45 to 54 age range. Less than half (43 per cent) of those in the 65-plus age bracket demonstrated all five of the skills.  Substandard digital skills are causing recruitment problems as almost all jobs are advertised online only and are applied for online. Without the skills either to look for a job online, let alone to create a CV or apply for a job online, fill in the application form online, applicants are disadvantaged. Being employed seems to support digital skills, with 89 per cent of those in work having all five digital skills, compared to 72 per cent of unemployed people and 47 per cent of retirees. Students and those at school have the highest levels of digital skills, with 93 per cent possessing all five skills. The report also highlights regional differences. Greater London has the highest levels of people with all five digital skills (84 per cent), followed by Scotland and East Anglia (both 81 per cent). Wales, however, has the lowest proportion of people with all the digital skills they need (62 per cent). The report’s findings have been incorporated into the charity’s new Digital Exclusion Heatmap, which illustrates the level of digital skills across the UK.

Women could achieve gender equality in the highest ranks of business by 2030, a study with global executives has found. The global survey, by Weber Shandwick with 327 executive respondents, found that while 73 per cent believe gender equality will be achieved at executive level by 2030, only 44 per cent said there were goals in place to achieve this. The survey revealed “push and pull factors" around developing and promoting more women into top level roles, with some supporting female advancement and some preventing it. The study's authors urged leaders to act now or risk being left without sufficient numbers of women primed to move into senior positions. It also warned that employers who fail to act could find themselves in a situation where they need to defend their reputation on diversity in the years ahead. In the study six “push forces” were identified as supporting female progression into senior roles, including: media attention on gender equality; a resurgence of the war for talent; recognition of the value senior women add to the bottom-line; increases in female ambition; millennials’ expectations of equality of opportunity; and stakeholder pressure. Of those surveyed, 43 per cent of female executives said that if changing jobs they would seek an employer which promotes gender equality, while 76 per cent of non-C-Level female executives said they were interested in pursuing a C-level position compared with 56 per cent of non-C-level men. However, the study also revealed four “pull forces”, which act as barriers to gender equality. These were: gender equality not being a C-level priority; gender pipeline fatigue; the glass ceiling remaining intact; unequal pay undercutting motivation. The study found only 39 per cent of senior executives agreed that creating a diverse team is a priority, ranking it seventh among a list of 10 concerns. The number one reason given by men (42 per cent) as the reason women fail to progress was that there are not enough qualified women in the pipeline, while only 23 per cent of women said this was the case. A further 25 per cent of women said equality was not a priority for their CEO, while 18 per cent felt there was unequal pay for equal work. When asked what the tipping point would be for achieving gender equality, 55 per cent of respondents said that legislation could achieve equal pay as the number one issue, while 40 per cent cited access to universal provision of low-cost, high-quality child care. Pressure from stakeholders was identified as a tipping point by 44 per cent of respondents.

According to Bloomberg News bonuses crimped by regulation and choppy markets, long hours and job security threatened by cost-cutting have taken a toll on finance job satisfaction: 30% of investment bankers and 32% of traders ages 35 to 45 said they would’ve gone into a different trade, according to recruiter Options Group. The survey reached 1,467 workers in the U.S., Asia and Europe in a survey completed this month. While job satisfaction fell this year at big banks, investment boutiques and hedge funds, the drop was most pronounced at the biggest global investment banks: 51% of respondents were satisfied with their jobs, compared with 58% in 2014. Investment bankers cited the buy side - that is, hedge funds and pensions (8%) - along with medicine (7%), private equity (6%) and engineering (5%) as the most appealing alternative careers.

Too many UK apprenticeships are poor quality and employers need to take greater ownership of this type of training to boost the quality, a report from Ofsted has said. The report, Apprenticeships: developing skills for future prosperity, found that while apprenticeship numbers are increasing, many schemes fail to give learners the skills and knowledge employers need. It said that employers should work more closely with schools and further education providers to address this. UK government efforts to create three million more apprenticeships by 2020 were also examined and the report said this ambition was being “undermined” by the variable quality of programmes available. Ofsted inspected 45 apprenticeship providers, such as colleges and private companies, and found a third were not providing sufficiently high-quality training. The report accused employers and providers involved in poor quality, low-level apprenticeships of "wasting public funds and abusing the trust placed in them by government and the apprentices". Sir Michael Wilshaw, chief inspector of education, children's services and skills for Ofsted, said: "The reforms are commendable. But we are kidding ourselves if we think good intentions are enough." Inspectors found weaker provision in sectors where employers and providers had little previous experience of apprenticeships, particularly in the care, customer service, administration and retail sectors. Many were found to have a high proportion of apprentices aged 25 and over, involved little or no formal training and lacked collaboration between employers and providers to plan apprenticeships that taught the skills employers needed. Employers with the best apprenticeships, according to Ofsted, were in the motor vehicle, engineering and construction sectors. These were found to provide good on and off-the-job training and were well assessed and planned. Wilshaw urged employers to take ownership of apprenticeships and called for better local co-ordination. He said too many employers had not engaged with schools or organised themselves effectively to make the apprenticeship system work.

Nearly half (48 per cent) of HR leaders expect their workforce to expand over the next 12 months as the global economy shows positive signs of recovery, a survey from recruitment firm Michael Page has found. The UK and Ireland lead the way in demand for global talent, with 60 per cent of organisations expecting an increase in total workforce, and over half (54 per cent) of these respondents reportedly spending more than 10 per cent of their total budget on recruitment to meet these expectations. This is significantly more than in other countries, with an average of 31 per cent of HR leaders stating the same. The survey of more than 2,500 HR leaders from 65 different countries shows regional differences in expected headcount growth. Just 47 per cent of HR managers in Continental Europe expect to see an increase in staffing levels over the next 12 months, compared to 75 per cent in the Middle East. Michael Page's 2015 Global Insights HR Barometer suggests that the top business priorities for global firms are talent management (33 per cent), training and development (33 per cent) and talent acquisition and recruitment (32 per cent).  Just 4 per cent are focused on diversity and inclusion, the findings show. Both India (66 per cent) and the UK and Ireland (60 per cent) report particular staffing pressures, according to the survey.

The Calibre Prize for an Outstanding Essay is intended to generate high quality original essays and to foster new insights into culture, society, and the human condition. Essays must range from 3,000 to 7,000 words and must be written in English. Anyone writing in English is eligible, regardless of where they live. The tenth Calibre Prize will be judged by 2015 Calibre winner Sophie Cunningham and ABR Editor Peter Rose. The Prize for an Outstanding Essay is worth AU$5,000. The winning essay will be published in the print edition and ABR Online. ABR welcomes essays from leading authors and commentators, but also from emerging writers. All non-fiction subjects are eligible. Entries are welcome from writers anywhere in the world. There is no age limit. The 2016 deadline for applications is 18 January 2016. See the website for more details.

The Virgin Media Accelerator has been set up to identify and support the most innovative and disruptive digital start-ups from around the world. The three-month mentorship-driven accelerator programme is designed to support companies working in innovative businesses. Ten start-ups will be chosen to take part. The accelerator programme involves 13 weeks of intense mentoring and guidance. Throughout the programme the start-ups will get access to senior experts from Virgin Media and its parent company Liberty Global, as well as Techstars’ global network of more than 7,000 founders, mentors, investors and corporate partners. Supported companies will have the option to receive up to US$120,000 (approximately £78,000) of funding in exchange for an equity stake and convertible loan note. This is broken down as follows: Upon entering the programme, Liberty Global Ventures and Techstars will acquire a 6% equity stake in each of the 10 selected start-ups in exchange for an initial US$20,000 (approximately £13,000) investment. Each company will also have the option to take an additional US$100,000 (approximately £65,000) convertible loan note backed by Liberty Global Ventures and Techstars, for up to an additional 4% equity stake. The sponsor is looking for everyday simple ideas. Ideas rooted in connectivity and networks – but with the ability to reach into the everyday lives of millions to make good things happen. It is actively encouraging start-ups from every corner of the digital sector to apply. Applicants could be involved in Internet of Things (IoT), telecom infrastructures, customer data and experience, social enterprise, connected homes, connected goods and services, interactive home experiences, home health and wellness, and connectivity for social good. Anyone from anywhere in the world can apply, however they must be legally based in the UK during the programme. The deadline for applications is 07:00 GMT on 9 January 2016. The programme is 13 weeks long and begins 27 March 2016 and ends 23 June 2016. See the website for more details.

The educational level of the labour force is improving worldwide but access to a higher education is not leading to lower unemployment at the global level, says the 9th edition of the ILO’s “Key Indicators of the Labour Market” (KILM). According to the latest edition of the KILM, which is part of the broader ILO statistical database (ILOSTAT ), all but two of 64 countries with available data have registered an increase in the share of the labour force with a tertiary education over the past 15 years. The biggest increases were seen in Canada, Luxembourg and Russia. At the same time, there has been a drop in the share of labour market participants with only a primary-level education or less. However, this does not mean that workers with tertiary-level education automatically have a better chance of finding a job. While they are less likely to be unemployed in most high-income economies, tertiary graduates in low- and lower-middle-income economies are actually more likely to be among the unemployed than workers with lower educational levels.

There are signs of “real progress” in gender equality for leadership roles as a study by McKinsey finds women are more confident about career opportunities and gender diversity is now a top 10 priority for employers. The research, conducted on behalf of the 30% Club and unveiled at its Leadership Forum, examined gender balance in the UK professional services sector and follows on from comparable research published by the 30% Club in 2012. The findings, outlined in the report: The needle starts to shift: Increasing the number of women in UK partnerships, showed that the promotion gap between men and women in law firms has narrowed since 2012 with the expectation that men were more likely to be promoted than women falling from 10 times more likely to three times more likely. And across a wider range of professional service areas, including law, accountancy and consultancy firms, men and women showed equal career confidence and ambition, suggesting employers were making good progress. However, despite these positive results, a separate piece of research by employment law firm Clyde and Co showed there had been no increase in the proportion of female high earners in the past four years. This is despite nearly one million more individuals paying the higher rate of tax and ongoing pressure to improve pay equality. Pressure has come in the form of equality campaigns such as the 30% Club and legislation including compulsory gender pay gap reporting, due to come into force next year, and the Lord Davies Review targets to increase the number of women on boards. Clyde and Co analysed data obtained from Her Majesty’s Revenue and Customs to find that while the number of higher rate tax payers had grown, women accounted for just 27 per cent of all higher rate tax payers in each of the past four financial years.

The International Monetary Fund (IMF) has forecast a four per cent growth rate for Nigeria’s Gross Domestic Product (GDP) in 2015, as the country continues to contend with the challenge of declining income from the drop in crude oil prices. The latest growth forecast by the fund is 2.25 percentage points lower than its last year’s projection for Nigeria. The multilateral donor agency stated this in its 208-page World Economic Outlook (WEO) titled, “Adjusting to Lower Commodity Prices. In the 2015 budget, the federal government had initially forecast a real GDP growth rate of 6.4 per cent in 2015 but was forced to slash it to 5.5 per cent owing to declining oil prices. Oil accounts for the bulk of government revenue in Nigeria, but global crude prices have more than halved over the past one year. Continuing, the IMF stated that it anticipated growth in sub-Saharan Africa to also slow this year to 3.8 per cent, from five per cent in 2014. Similarly, it forecast that growth in low-income developing countries would also fall to 4.8 per cent this year, more than one percentage point weaker than in 2014, before picking up to 5.8 per cent in 2016. But the IMF pointed out that its projections for the low-income countries would be shaped by the outlook for sub-Saharan economies, “in particular Nigeria; the resilient growth in low-income developing countries in Asia, particularly Bangladesh and Vietnam. Among the region’s oil importers—projected to grow at four per cent on average—a majority will continue to experience solid growth, especially low-income countries, where investment in infrastructure continues and private consumption remains strong. Countries such as Côte d’Ivoire, the Democratic Republic of the Congo, Ethiopia, Mozambique, and Tanzania are still expected to register growth of about seven per cent or above this year and next. But others, such as Sierra Leone and Zambia, are feeling the pinch from lower prices for their main export commodity, even as lower oil prices relieve their energy import bill,” the fund stated. Nonetheless, the IMF projected that growth for the region would pick up in 2016 to 4.3 per cent, with the global recovery supporting a moderate pick-up in external demand, the modest recovery in oil prices benefiting oil exporters, and an improvement in the outlook for Ebola-affected countries.

The TEN Project is on track to achieve its first oil by August next year with a gross daily operation capacity of 80,000 barrels (bopd), according to Tullow Oil. The project derives its name from the three fields — Tweneboa, Enyera and Ntomme – and has a current scope to develop 300million barrels of oil equivalent (mmboe) over the lifetime of the field, which is approximately 20 years. Around 80% of this is oil and 20% gas. It is led by Tullow Oil, with partners Ghana National Petroleum Corporation, Kosmos Energy LLC, Andarko Petroleum and PetroSA. The reservoirs are spread over 800 kilometres and lie in water depths of between 1,000 and 1,800 metres. The TEN appraisal programme started in January 2011 and continued in 2012 with the drilling of three wells. The Owo-1RA well was drilled and successfully tested in January 2012 at combined rates in excess of 20,000 bopd. Enyenra-4A was drilled in March 2012, intersecting 32 metres of oil-pay. Water injection tests on this down-dip well were carried out in April 2012, with results proving that the Enyenra channel sands are suitable for water injection to support oil production.

The Nigeria Deposit Insurance Corporation (NDIC) has said it had extended maximum deposit insurance coverage of N500,000 to individual subscribers under the mobile payment system in the country, according to the Director, Research, Policy and International Relations of NDIC, Mr Jacob Afolabi. According to Afolabi, the move was to protect the mobile subscribers who constitute most of the unbanked in the country. He said each subscriber using the mobile money platform would be entitled to as much as N500,000 in case of failure in a deposit bank. The move was in the adoption of the pass-through deposit insurance scheme by the NDIC and would recognise individual subscribers in the pool account instead of treating the pool account as a single account. This move is intended to engender confidence in the under-banked, to increase the level of financial inclusion in the country. Afolabi noted that although there were challenges on mobile money transactions, the corporation was working at eliminating such challenges to boost financial inclusion in the country.

The President of Mauritius, HE Dr. Ameenah Gurib-Fakim, has been appointed Vice Chairman and Trustee of the Planet Earth Institute (PEI), an international NGO and charity working for the ‘scientific independence of Africa’. As Vice Chairman and Trustee of the PEI, Dr. Gurib-Fakim will work alongside fellow Board Members, Dr Álvaro Sobrinho, the prominent Angolan philanthropist and businessman, Rt Hon Lord Boateng, a member of the UK House of Lords, Prof. Sir Christopher Edwards, the distinguished academic, and Prof. Sir Magdi Yacoub, the pioneering cardiothoracic surgeon. The PEI’s expansion to Mauritius will build upon its international work to support African science, technology and innovation, as well develop a number of locally focused initiatives to be announced in early 2016. HE Dr. Gurib-Fakim was appointed as President of the Republic of Mauritius in June 2015, following a highly distinguished career as a scientist and businesswoman, including a role as Pro Vice Chancellor of the University of Mauritius. In recognition of her significant contributions to scientific research, she was awarded L’Oréal-UNESCO Award for Women in Science in 2007.

The Chinese government has reiterated its commitment to support industrialisation in South Africa and the rest of the African continent by pledging $50-billion (R668- billion) towards industrialisation projects. The pledge was announced during a recent courtesy visit by China's commerce vice-minister, Zhang Xiangchen, to Lionel October, the director-general in the Department of Trade and Industry, in Pretoria ahead of the Forum on China-Africa Co- operation (Focac), which took place in Johannesburg in December. Initiatives like these fall in line with South Africa's National Development Plan that has as its aim an improved country and continent. Its goals are to end poverty and build a strong, resilient and smart economy. China-Africa industrialisation partnerships will be at the forefront of any development in the continent followed by agricultural activities. China also pledged to increase investments in Africa especially in the special economic zones and provide training in those sectors. The Chinese government plans to provide 50 technical experts in building and upgrading of industrial parks and new power plants, 200 000 industrial managers to train and develop local industrial managers, as well as 40 000 training opportunities in different sectors.

Confidence amongst business leaders in Africa declined in the third quarter of 2015, falling to its lowest recorded level in six years. The YPO Global Pulse Confidence Index for Africa, which tracks CEO confidence levels in the region on a quarterly basis, slipped 3.1 points from 57.4 to 54.3, its lowest level since the inception of the survey. Having consistently recorded the greatest levels of confidence in the world throughout 2013, confidence amongst African leaders now lags behind every other region in the world, with the exception of Latin America. Confidence in Africa now trails the global composite reading of 58.1 by 3.8 points. The decline in confidence within Africa was largely due to pessimistic outlooks in Kenya and Nigeria. Kenya plummeted 15.0 points from 64.5 to 49.5, whilst Nigeria slipped 5.6 points from 53.7 to 48.1. However, South Africa, which has the highest weighting in the YPO survey, remained relatively unchanged, losing half a point to land at 58.1. Globally, the YPO Global Pulse Confidence Index fell 2.8 points to land at 58.1, its lowest level in four years. This decline in confidence was evident in all of the major economic regions, with the United States falling 2.9 points to 59.9, Asia dropping 4.7 points to 57.3, and the European Union slipping 1.4 points to 60.2. When considering the immediate short-term business and economic conditions affecting their organisations, only a quarter (26%) of CEOs across Africa felt that conditions would improve over the next six months, compared with a third (34%) who expected conditions to deteriorate, and 40% who expected to see little change. Despite ongoing concerns about the general economic environment, CEOs in Africa did however remain confident about their own organisations’ prospects for growth and investment in the year ahead. Whilst the YPO Global Pulse Sales Index for Africa dropped 4.0 points from 68.8 to 64.8, this is still a relatively positive reading. Indeed, two-thirds (66%) of CEOs in Africa expected to increase revenues over the next 12 months, with only 10% predicting a decline. Similarly, although the YPO Global Pulse Fixed Investment Index slipped fractionally by 0.1 point to 59.4, almost half (45%) of CEOs expected to increase fixed investment in the next year, versus only 12% who expected to cut back in this area. The quarterly electronic survey, conducted in the first two weeks of October 2015, gathered answers from 1,915 chief executive officers across the globe, including 179 in Africa. Visit www.ypo.org/globalpulse for more information about the survey methodology and results from around the world.

Despite the size of agriculture in Nigeria in relation to other African nations, the country lags behind its peers in the sector in terms of research funding directed at increased agricultural productivity. For every $100 of agricultural output, Nigeria invests only $0.42 into agricultural research, as compared to $0.94 and $1.40 in Ghana and Uganda respectively, says a report by ActionAid, a global non-profit organisation of people with a commitment to furthering human rights and defeating poverty for all. The budget of Ghana just for major science and technology agencies, for instance, soared from US$5 million in 2007 to US$39 million in 2008, says the International Food Policy Research Institute (IFPRI). Ghana however has a smaller population and agricultural industry and by 2008, it had the equivalent of 537 full time researchers working in agriculture. Nigeria has the highest agricultural research system in Africa though, in terms of investments and number of researchers, with over 80 government and high education institutes and over 2,000 researchers engaged in research. However, budget implementation is often low and official fraud limits funds from reaching their points of critical need. Annual government documents show that the Federal Government spent just 2 percent of its agriculture budget on research from 2007 to 2011, while the 36 state governments spent less than 1.5 percent on agricultural research. Yet, investing in agricultural research and development is vital for imparting knowledge to farmers, developing improved crop varieties and techniques to increase yield, and managing water and other natural resources more sustainably. Nigeria is said to have produced over 200 agricultural technologies since 1997, yet the participation of farmers in these processes has been low.

Standard Bank Group has expanded its already extensive East African footprint with the official opening of a representative office in Ethiopia, giving Standard Bank, Africa’s largest bank by assets, a continent-wide footprint in 20 African countries. The representative office, which is based in Addis Ababa, was opened by Standard Bank Chief Executive, Ben Kruger. It will act as an entry point for clients seeking to invest in Ethiopia and will be administered by Standard Bank’s head office in South Africa. The growth potential for the East African region continues to attract significant investment. With an established presence across four of the key markets in the region, namely Kenya, South Sudan, Tanzania and Uganda, the opening of the Ethiopian representative office is indicative of the group’s commitment to the region. Ethiopia’s remarkable growth has been underpinned by high public investment and a growing consumer base. The country boasts the second largest population on the continent, behind Nigeria, at around 90 million. GDP growth has averaged about 10.0% over the past 5 years. Heavy public investment in agriculture, energy and transport are likely to continue to support growth in the medium term as the government ramps up its productive sectors. The energy sector is also set to boom with power projects at various stages of development, and with Ethiopia emerging as a major power hub in the region, energy exports will likely become a major foreign exchange earner in the near future. Industry and manufacturing, a top priority for Ethiopia, are likely to start making a more significant contribution in the country’s GDP going forward which will largely be facilitated by the increased electricity supply.

The manufacturing sector in Tanzania has overtak­en gold in generating foreign exchange earnings. That has raised hopes to industry players that the sec­tor is in the right direction to support Tanzania’s economy. According to the Bank of Tanzania’s September eco­nomic review, manufacturing generated $1.31 billion in the year ending August while gold had $1.29 billion. Manufacturing becomes second after tourism which generated $2.21 billion. Mr Hussein Kamote, the director of policy and advo­cacy at the Confederation of Tanzania, says the situation might have been favoured by a fall in gold prices in the world market and the fact that Tan­zania’s power supply was bet­ter last year. According to him, the chal­lenge ahead for this year is the shortage of power sup­ply which has affected opera­tions in several regions and volatile exchange rate that makes imported raw materials more expensive. Gold used to be the lead­ing foreign exchange earner which reached $2 billion mark but has been deteriorating due to mainly price declines in the world market. Gold shipments declined from $1.78 billion in the year ending September 2013 to $1.29 currently. Manufacturing exports increased from $978 million in 2013 to $1.31 billion currently while tourism also rose from $1.86 billion to $2.21 billion in the same period. The value of exports of goods and services was $9.36 billion in the year ending August 2015, an increase by 9.8 per cent from the correspond­ing period in 2014. The value of imports of goods and services rose to $13.47 billion.

The growth of mobile money services is transforming the lives of millions of Ghanaians previously excluded from the West African country's financial sector. The service, which is a fast, simple, convenient, secure and affordable way of transferring money, making payments and doing other transactions using a mobile phone, has grown significantly since advent four years ago, almost doubling to 7,17 million clients presently. Previously, it was almost impossible for non-bank account holders to receive money. There are four mobile money service providers -MTN Mobile Money, Tigo Cash, Airtel Money and lately, Vodafone Cash. According to the Central Bank, the mobile money service has helped to boost the number of financial account holders in the country to 35 percent up from 29 percent in 2011. Furthermore, active usage by subscribers increased from 23 percent in 2013 to 35 percent in 2014. According to Global Findex 2015 report, 13 percent of Ghanaians, of a total population of 25,9 million, now use a mobile money account, compared to 12 percent in Sub-Saharan Africa. In an effort to bring mobile money services to the doorsteps of subscribers, the four mobile operators have partnered a number of local banks, including Access Bank, Agricultural Development Bank, Cal Bank, Ecobank, Fidelity, GT Bank, Universal Merchant Bank, Stanbic, United Bank of Africa and Zenith. The services are available across all Metropolitan, Municipal and District Assemblies (MMDAs) and key villages and towns in the country. They also available in all the over 100 telecom network service centres and over 20 500 mobile money merchants doted across Ghana. In addition, Ghanaians abroad are able to send money to their relatives and friends via the service. Mobile money users can pay their satellite television and electricity bills, school fees, purchase airline tickets, as well as pay for goods purchased at a number of shops and online shops. Thousands of unemployed Ghanaians are now in work thanks to this technological advancement, and Tigo alone provides employment for over 7 000 Ghanaians.

Following the success of its 2012 and 2014 bidding rounds, the Ministry of Mines, Industry and Energy of Equatorial Guinea has announced it will launch a new bidding round for all remaining deep and ultra-deepwater blocks in 2016. Two operators have confirmed they will further explore prospects in Equatorial Guinea in 2016: RoyalGate Energy will drill Block Z and Brazil’s G3 Oleo e Gas will drill Block EG-01. The Minister also stated that the production sharing contract for the Zafiro field, operated by ExxonMobil, will not be extended. ExxonMobil has been active in Equatorial Guinea since 1995 as operator of offshore Block B, which contains the producing Zafiro field. ExxonMobil holds a participating interest of 71.25 percent, GEPetrol has 23.75 percent and the Equatorial Guinea government holds the remaining 5 percent. The Ministry will not approve the sale of Hess Corporation’s producing offshore assets in Equatorial Guinea to foreign bidders. The US company operates the Ceiba and Okume fields, which began production in 2000 and 2006, respectively. It also states it is not willing to approve Noble Energy’s Carla and Diega developments in Blocks O and I due to project delays. The Carla discovery was made in 2011 and Diega was discovered in 2010.

Merck, a leading science and technology company, has announced the opening of its new office in Nigeria by Stefan Oschmann, CEO-elect of Merck, and Karim Bendhaou, President of North & West Africa. It’s the company’s first in the country and part of its strategy to grow its market share in the West African region. Merck products have already been present in the country for several years and today the company announced that this portfolio was expanded with the launch of the Muse Auto CD4/CD4% System(1), a compact and easy to use HIV/AIDS Diagnostic Kit, which is able to monitor the progression of the HIV/AIDS virus in patients. Besides a presence through their products, the company has been working closely with the Nigerian government and international organizations to increase access to health solutions in Nigeria. Furthermore, as part of its commitment to improving access to healthcare in developing countries, the company is supporting the World Health Organization (WHO) in the fight against schistosomiasis in Africa. Merck has delivered healthcare services in Africa since 1897. With a population rising faster than in any other global market and a growing middle class, the company is increasingly tapping into the continent’s innovative spirit to create health awareness and help respond to unmet medical needs. The Group’s Executive Board is visiting 10 African countries this week to underscore its commitment and rising importance of the continent. Among others, Merck seeks to start local production diabetes treatment Glucophage in Algeria, inaugurate an office in Nigeria and start the sale of its Muse® Auto CD4/CD4% System to detect HIV.

Access Infra Africa has signed a joint development agreement with Nigerian Quaint Global Energy Solutions for a 50 megawatt solar power plant that is expected to provide electricity for over 600,000 homes in northern Nigeria. The West African nation has chronic power shortages due to a dilapidated transmission grid and natural gas constraints while the new generating and distribution companies are still struggling to be profitable since the 2012 privatisation of the sector. Power output has risen since President Muhammadu Buhari was inaugurated at the end of May, but the level is still far below the country’s needs. Businesses rely heavily on expensive diesel generators while the average Nigerian must put up with days of blackouts. The ABIBA plant in northern Kaduna state is expected to be built in the next two years though the partners must still negotiate a Power Purchase Agreement (PPA) with the Nigerian Electricity Regulatory Commission (NERC) before it can seek financing from banks. Access Infra Africa, a renewable power developer with a presence in 17 African countries, will contribute the bulk of the 30 percent equity put down for the $100 million project. Quaint has also received a $1.3 million grant from the U.S. Trade and Development Agency for ABIBA. If successful, the solar farm would be the first in the country and largest such plant on the continent outside South Africa.

Bharti Airtel Africa, a leading telecommunications service provider with operations in 17 countries across Africa, has announced its partnership with Facebook which will see the launch of Free Basics in Africa. Free Basics is a set of basic websites and services to introduce people to the internet and demonstrate how it adds value to their lives. They include providing free health, education and finance-related information to people in developing countries so that they can make informed choices and decisions to improve their lives.  In the first phase, Free Basics will be launched in Airtel Nigeria, DRC, Gabon and Niger followed by other Airtel Africa markets. Customers with an Airtel mobile connection will be able to access all the services that form part of Free Basics without paying extra for data charges or rental. Airtel Africa had already been working with Facebook since 2014 in enhancing accessibility to the internet in an affordable manner through the launch of Free Basics in Zambia, Kenya, Malawi, Ghana, Seychelles and Rwanda. With the launch of Free Basics, these markets will also now have access to more free services and the Free Basics platform. Airtel customers currently using the app and mobile website will be able to continue using the Android app, though it will now be called Free Basics by Facebook in Google Play. And the mobile web version, which will redirect from the previous URL, can be accessed at FreeBasics.com.

The Central Bank of Nigeria (CBN) has approved mobile money as part of international money transfer services nationwide. According to the CBN, the approval followed a series of representations by financial stakeholders on the need to facilitate foreign exchange transactions through a more convenient and flexible payment window. The government bank also said its approval followed widespread use of mobile telephones in Nigeria and in recognition of its potential as a tool for financial inclusion and efficient payment system. According to the CBN the International Mobile Money Remittance Services will complement existing guidelines on the use of mobile telephone locally. The guidelines cover the business rules governing the operation of the IMMRS and specify the infrastructural and risk management requirements for international mobile payments services in Nigeria. They also identify participants and define their roles and responsibilities in mobile telephone money transfers. The policy sets the basis for the regulation of services offered by the participants. The previous 2009 guidelines only moderated users and operators of mobile payments services in local currency transactions in Nigeria and the CBN 2014 guidelines on International Money Transfer Services in Nigeria did not cover money remittances via mobile applications.

Hifikepunye Pohamba, the former President of Namibia, has been awarded the 2014 Ibrahim Prize for Achievement in African Leadership at a special ceremony in Accra, Ghana. The Ibrahim Prize recognises and celebrates excellence in African leadership. It is an annual US$5 million award paid over 10 years and US$200,000 annually for life thereafter. Presenting the award to President Pohamba, Dr Salim Ahmed Salim, Chair of the independent Prize Committee, said: "President Pohamba’s focus in forging national cohesion and reconciliation at a key stage of Namibia's consolidation of democracy and social and economic development impressed the ‎Prize Committee. His ability to command the confidence and the trust of his people is exemplary.”

Merck, a leading science and technology company, has announced that it plans to considerably expand its presence on the African continent over the next five years and is counting on the region’s entrepreneurial spirit and innovation power for growth. The company currently has around 400 employees across ten African countries and aims to increase this number to around 1,000 by 2020. Merck’s largest location is South Africa, from where the company also steers business in South-East Africa including Kenya, Angola and Mozambique. Merck’s sales in Africa will climb to around € 200 million in 2015 and are expected to reach € 500 million by 2020. Merck has delivered healthcare services in Africa since 1897. With a population rising faster than in any other global market and a growing middle class, the company is increasingly tapping into the continent’s innovative spirit to create health awareness and help respond to unmet medical needs. The Group’s Executive Board visited ten African countries this week to underscore its commitment to and growing importance of the continent. Among other things, Merck announced plans to start local production of the diabetes treatment Glucophage in Algeria, inaugurated an office in Nigeria, and launched the sale of its Muse® cell analyzer, used to detect HIV. In addition to selling products in Africa, Merck also aims to tap into the continent’s potential for cutting-edge innovation, which can shape Africa’s future and inspire solutions to tackle global challenges. Among other things, Merck has started an online and mobile platform for diabetes risk assessment, apps for diabetes and fertility patients and a mobile platform for doctors, all of which were developed in Africa. Merck’s growth strategy for Africa mainly includes its Healthcare and Life Science businesses. In Healthcare, 2016 will be a year of investment in selected African countries for Merck’s Consumer Health business, which comprises prescription free over-the-counter pharmaceutical products. Among others, the company plans to market well-known brands such as Seven Seas, Femibion and Neurobion in Africa. In Biopharma – also part of Healthcare – Merck is counting on its experience in markets with high-growth potential around the globe and intends to match the right products with healthcare needs in selected markets. In Life Science, Merck intends to expand its presence in Nigeria, Kenya, Algeria, and Angola. As part of its corporate responsibility activities, Merck has pledged to eliminate the devastating infectious disease schistosomiasis. More than 200,000 people die from schistosomiasis every year. In children, the parasitic worm disease also stunts growth and reduces their ability to learn.