People & Lifestyle

AfCFTA, the long road to Africa’s promised land of trade and prosperity

Published

3 years ago

August 2, 2021

Ameyaw Debrah

Bohani Hlungwane, Head of Trade and Working Capital Sales at Absa Group

The African Continental Free Trade Area (AfCFTA) has been touted as the supercharger of Africa’s long-term economic success. Bohani Hlungwane, Head of Trade and Working Capital Sales, at Absa Group, looks at how far we have come and what needs to be done.

There is little doubt that the African Continental Free Trade Area (AfCFTA) is one of the golden keys to unlocking the continent’s long-term economic prosperity.

The free trade area has been a long time in the making, and there are still considerable hurdles to overcome, not least of which is the requirement for each member state to deposit their full schedule of zero-tariff goods and services. Some states also have valid concerns about whether infant industries should be protected from stronger country or industry players, while financing and political risks remain. Then there are the non-tariff barriers in restrictive regulations affecting the ease of border crossings and product safety requirements, and requisite approval processes.

But as the milestones are ticked one by one, we should not lose sight of how far the continent has come in creating a single and unified African market to deepen trade and economic integration. From the 1980 Lagos Plan of Action of the then Organisation of African Unity, the forerunner to the African Union, to the 1991 Abuja Treaty, which created the platform for free trade areas, Africa’s path to economic freedom and prosperity is marked by steady and measured steps of progress.

We should not be under any illusions as to the size of the undertaking in putting a continental free trade are into place. Europe created a single market for the movement of goods, services, people, and money in 1993, and the ensuing years have seen the European Union bloc grow to include more countries, the healing of the deep historical divides of the past, and the adoption of a single currency. So even though Brexit caused a rupture in the EU family of nations, it bears remembering that Croatia became the 28th member state in 2013.

In Africa, we seek to create a single market comprising almost double the number of EU states. Furthermore, the EU has its genesis as far back as 1950 when six founding countries – Belgium, France, Germany, Italy, Luxembourg, and the Netherlands – formed the European Coal and Steel Community in a bid to unite European nations economically and politically in the wake of the end of World War II.

It can be daunting when one looks through the lens of needing to bring together 54 individual and diverse countries into a single market. But already, we have eight regional economic communities with varying levels of liberalisation, so while we still have a long way to go, it is not as far as 54 completely disparate entities.

So, where does African find itself today in terms of AfCFTA?

The 1st of January 2021 was the go-live date of the Free Trade Area. This meant that those countries whose Parliaments had ratified the agreement and deposited a schedule of tariffs under which 90% of the goods will be zero tariffed goods and services were permitted to trade under the area.

Countries that have still not deposited their schedule of tariff-exempt goods and services have been given until the end of June 2021 to complete this, which is very transformational in and of itself because, instead of having sets of levies for various imports and exports, the majority of those defined goods and services will be subjected to zero tariffs.

There are still important issues to clarify, including broad agreement and acceptance around the question of rules of origin and intellectual property and how this impacts the value of components added as part of the value chain.

Can Africa pull this off?

The other big and seemingly eternal question revolves around infrastructure, or the lack thereof across the continent.

There is a ready acceptance that Africa has an enormous infrastructure deficit, and by all accounts, the annual required spend is well upwards of USD100 million over at least the next decade, amounting to around USD1 trillion.

And while that is a daunting figure, the reality is that Africa will bridge the infrastructure gap because of the enormous potential and gains inherent in seeing the creation of a single inter-connected market. Moreover, global corporates, asset and fund managers see the opportunity presented by a single market in Africa and the potential evident in factors such as labour competitiveness that make the continent supremely primed for manufacturing and large-scale industrial development.

We already see essential infrastructure projects across the continent underway that will add to the growing network of roads, rail, port, and other notable infrastructure development nodes. This is critical because, as more infrastructure projects are completed, these will generate increased confidence among global investors and finance institutions demonstrating that Africa is on the right track. It also counters the narrative of Africa’s dismal record in moving projects to successful closure.

Added to this is a solid political will to make AfCFTA succeed. The issues around non-tariff barriers such as delays with customs as one example can sink the very best initiatives. However, the AfCFTA Commission has established a digital platform whereby countries and any person involved in the trade of goods and services can flag issues that hamper the effective and efficient trade movement. This points to a commitment to engage with key stakeholders to ensure that critical issues are addressed.

Digital infrastructure will play a critical role in facilitating the workings of the free trade area. For example, the registration of businesses and the movement of goods across borders and general business administration requirements are completed quickly and seamlessly.

As we have seen with Absa Regional Operations (ARO), the COVID-19 pandemic and large-scale drive towards digital transacting speaks to the very future of the free trade area and how business will increasingly be conducted. By its very nature, digitisation drives integration much faster than regulatory reform as entrepreneurs and SMEs seek innovative solutions.

The current reality and the challenges are stark. According to the World Bank, Africa has a population of 1.3 billion people with a combined gross domestic product estimated at USD3.4 trillion. Yet, despite its abundant resources and riches, the continent only contributes around 3% to total world trade, while intra-Africa trade sits below 20% of total trade on the continent.

For the first time, Africa is gearing up to ensure that the value found on the continent is to the ultimate benefit of African economies and her citizens.

By Bohani Hlungwane, Head of Trade and Working Capital Sales at Absa Group

People & Lifestyle

Richard Strauss-Ashiaby, the Best-Graduating Student from UniMAC-IJ, Gets the Hollard Prize

Published

9 hours ago

May 7, 2024

Ameyaw Debrah

Hollard Ghana, the country’s favourite insurer, has honoured Richard Della Strauss-Ashiaby, the valedictorian from the University of Media, Arts and Communication-IJ (UniMAC-IJ), with the Hollard Prize during the 2nd Congregation held in Accra.

To commemorate this remarkable achievement, Roswitha Adjoa Amoako, Head of Group Business at Hollard Life, presented Richard with the Hollard Prize, including a laptop, a citation, and a cash prize during the ceremony.

Speaking after the event, Cynthia Ofori-Dwumfuo, Group Head of Marketing and Corporate Affairs, commended Richard on his notable feat.

“We are thrilled to join in celebrating Richard Della Strauss-Ashiaby on his well-deserved award as the overall best-graduating student from the University of Media, Arts and Communications-IJ. At Hollard, we believe in the power of education to transform lives and shape the future. By supporting talented individuals like Richard, we are investing in the next generation of leaders who will drive positive change in our society, thus enabling better futures”, she stated.

Commenting on the award, the recipient, Richard, expressed his deep gratitude, saying, “I am truly humbled about this award, not only for the just-ended ceremony but also for the long-term partnership between Hollard and UNIMAC-IJ. I hope this award will inspire students to strive for excellence and positively impact their fields. Thank you, Hollard Ghana, for this incredible opportunity”.

Since its inception in 2022, the Hollard X Academia program has significantly improved the lives of numerous students and fostered a culture of excellence and innovation. This comprehensive initiative, which includes the Hollard Prize, Scholar Programme, Streetwise Finance engagement sessions, and Corporate Experience, is a testament to our commitment to investing in the next generation of leaders.

Anatasia Nana Aba Acquah, Gwendy Tetteh, Joshua Seidu Adams, and Sandra Kumah are some of the past beneficiaries of the Hollard Prize since its inception.

The country’s favourite insurance group is Hollard Ghana, with subsidiaries Hollard Insurance and Hollard Life Assurance. The group combines its deep local knowledge of the market, having previously operated in Ghana for 25 years as Metropolitan Insurance, with the world-class expertise of an international insurance brand in 18 countries worldwide. With feet firmly planted on Ghanaian soil but headquartered in South Africa, Hollard delivers innovative insurance solutions customised to the unique risks Ghanaians face. Hollard offers various life and general insurance products, including funeral, personal accident, motor, business, travel, home, and more, and can be reached via 0307000599. Beyond various nationwide office branches and Hollard 2U franchise shops, Ghanaians can find Hollard at Shell Fuel Station Welcome Shops, Melcom stores and online at www.hollard.com.gh, www.melcom.com/hollard-insurance and www.jumia.com.gh for all their insurance needs.

People & Lifestyle

Tech Talent Wars: Strategies to Retain Top Employees in a Hybrid World

Published

15 hours ago

May 7, 2024

Ameyaw Debrah

The hybrid work model, a blend of in-office and remote working, has reshaped how businesses operate and compete for top tech talent.

As technology companies embrace this approach, they’re also facing intense challenges in retaining skilled employees. The rise of remote work has broadened the competitive landscape, and companies must adapt their retention strategies to secure the best talent. This article explores how tech companies can retain top employees in a hybrid world, focusing on the challenges to hire Solana developers and the role of the best recruitment agencies in Perth.

The Hybrid Work Environment and Tech Talent Retention Challenges

A hybrid work model offers flexibility, but it also introduces new challenges:

Remote Burnout: Blurring lines between work and home can lead to overwork, fatigue, and eventual burnout, making employees feel disconnected.
Lack of Engagement: Reduced face-to-face interaction can cause disengagement, diminishing collaboration and morale.
Increased Competition: Hybrid work allows companies worldwide to recruit across borders, intensifying competition for specialized talent.
Strategies to Retain Top Tech Employees in a Hybrid World

To overcome these challenges, businesses can implement specific strategies to retain their tech workforce:

Flexible Work Policies: Allow employees to choose when and where they work best, providing them with the autonomy they value.
Career Growth Opportunities: Establish clear career paths and offer training programs that align with individual goals, helping employees visualize their future with the company.
Recognition and Rewards: Create recognition programs to celebrate achievements and offer tangible rewards for exceptional performance, whether through bonuses or additional leave.
Fostering Connection: Organize virtual team-building activities and maintain regular check-ins to nurture a sense of connection despite the physical distance.
Inclusive Culture: Embrace diversity and implement policies that prioritize employee well-being to foster a supportive environment.

Hiring Solana Developers: A Niche Challenge

Blockchain technology, particularly the Solana platform, is experiencing rapid growth, making the search to hire Solana developers competitive. Retaining these specialists requires a thoughtful approach:

Training and Upskilling Opportunities: Offer opportunities for continuous learning and skill enhancement to keep Solana developers at the forefront of their field.
Innovative Projects: Provide challenging and creative projects that push developers’ boundaries and satisfy their desire for meaningful work.
Community and Collaboration: Encourage collaboration and create opportunities to share knowledge and insights within a supportive developer community.

Best Recruitment Agencies in Perth and Their Role in Retaining Talent

Perth has become a competitive tech market, and the best recruitment agencies in Perth are pivotal in helping businesses find and keep top talent:

Deep Market Knowledge: They provide insights into local market trends, emerging skills, and salary expectations.
Networking and Candidate Relationships: Agencies build strong relationships with candidates to understand their goals and find roles aligned with their career aspirations.
Consulting Services: They guide companies on best practices for onboarding, engagement, and retention, offering strategies tailored to each company’s specific needs.
Final Tips and Recommendations for Retaining Top Tech Talent

To ensure businesses retain their tech talent in a hybrid work world:

Prioritize Communication: Keep communication lines open between leadership and employees, ensuring clarity about goals and expectations.
Continuous Feedback: Conduct regular surveys to gather employee feedback and address concerns promptly.
Employer Branding: Promote a strong employer brand that emphasizes company values, growth opportunities, and a supportive culture.

Conclusion

In today’s competitive hybrid work environment, retaining top tech talent is critical. This requires businesses to tailor their retention strategies to address remote work challenges and specialized roles like Solana developers. Companies can rely on local recruitment agencies, such as the best recruitment agencies in Perth, to find and retain the talent needed to succeed. Proactive communication, career growth, and a supportive culture will help businesses adapt and win the tech talent wars.

People & Lifestyle

Don’t Take Any Risk – Protect Your Car During Break-ins!

Published

18 hours ago

May 7, 2024

Ameyaw Debrah

With the crime rate rising daily, you must exercise caution and learn how to protect your car from burglars. It has been reported that more than 810,000 vehicles were stolen in 2023, which is a high number.

So, if you do not want to face a similar situation or become a victim of car theft, follow the simple steps we discuss.

1. Keep the doors and windows of the car locked

This is one of the simplest yet effective tricks to protect a car from theft—you must always lock the door and windows, even when you are not using the vehicle. Open windows attract thieves, who can easily access the car. A locksmith Portland Oregon, can customize locks for car windows.

2. Have access to the keys

Always be careful when you have a car. Never leave the keys lying around, and always be cautious to avoid losing them. Always keep spare keys so you are kept in the car when you lose one. Be mindful of not storing the car key inside or outside the vehicle, as it makes it easier for thieves to steal it.

3. Choose a secure car parking

You must be careful when choosing secured car parking. Do more than park it anywhere. It can be dangerous. To ensure complete safety, park the car where it does not have public access, and you can invest in building your garage or renting a garage. When parking outside, you must select a well-lit space, never choose a remote area, and choose a spot with CCTV camera access or any other security device.

4. Never keep valuables inside the car

If you keep valuables in the car, thieves can be tempted to break into or steal them. Valuables, including your purse, any expensive buy, or luggage, are easily visible in the vehicles. Even grocery bags can be enough to attract burglars, as they signal that there are more items inside the car. You can use a cargo cover based on your vehicle’s model.

5. Activate the car alarm

Most advanced cars have a built-in alarm system that triggers when anybody tries to open the car door. You must activate this alarm whenever you leave the car in the parking lot or garage. With just one intruding attempt to open the car, the alarm activates with a loud noise, which deters the thief. However, if your vehicle lacks one such alarm, you can buy a car alarm from the market and install it to keep it safe. These alarms are available in multiple options, allowing you to choose from various models and prices.

Summing it up

If you live in a safe location, then simple steps are enough; however, to maintain extra protection, install a few devices to prevent thieves, such as a vehicle immobilizer and steering wheel lock to discourage thieves. You can get help from a professional locksmith Gresham Oregon, to protect your car without any inconvenience. Find out who the leading professionals are and keep their contact details on your phone.

People & Lifestyle

The Psychological Impact of Colors and Graphics on Online Gambling Behavior

Published

18 hours ago

May 7, 2024

Ameyaw Debrah

If you are familiar with casinos, you already know how colorful they are. The physical ones are filled with bright buttons, colorful chips, and neon lights. Their online counterparts are no exceptions.

Online gaming and casino apps and sites have kept up with the trend, and you can see that in any such platform. Like just try the Betway Zambia login, and you will see what I am talking about. Today, we will take a vibrant ride learning how the colors and graphics can impact the games and gaming behaviors.

How Colors and Graphics Impact Psychotically Impact the Online Gambling Behaviors of the Users

The web design behind online casinos depends on various factors that can psychologically affect gamers. This includes colors, sounds effects and music, bonuses and rewards, and even user interface.

Now, let’s look at the role of colors and how various shades can impact the user’s psychology.

1.1) The Classic Red and Green

The bright reds and greens are undoubtedly the first shades that come to your mind when you hear the word ‘casino.’ Primarily associated with cards, pools, and roulettes, these hues give players the casino vibes.

While red is linked with risk-taking, the greens are related to money and winnings. Both attract the players and make them excited for the games.

1.2) Happy Yellow and Orange

The happy shade of yellow boosts your dopamine, while orange demands attention. Combining them reminds us of the buzzing environment of casinos and the excitement of playing the games and placing bets. This makes the players more eager and excited to play.

1.3) Black and Gold for the Royalties

The classy black and shiny gold background symbolizes special features and quality. These are particularly hit among the rich and loyal VIP customers and reward them with luxury gifts and rewards.

1.4) A Touch of Blue for Trust

Finally, safe and trusted online casinos try to encourage faith and trust in users by using calm shades of blue.

Especially for the navigational keys, the cool hues make you feel that each click is safe. It promotes the most crucial element of building successful user relations – trust.

The Role of Graphics

Along with the rainbow of shades, visual graphics also enhance the gaming experience to a vast extent. These can be done with:

Signs, symbols, and icons
Animations
Dynamic visuals

The flashing icons, spinning reels, and entertaining animations make games enjoyable.

However, you must remember that the best application of colors and graphics is with moderation and subtlety. The key is to find the balance. The graphics should excite the gamers but never overwhelm them. So, it has to be done correctly and with much care. That way, the gaming experience can become much more than slots, spins, and wins – it transforms into a real adventure!

The design behind online casinos and other gaming sites is an intricate combination of complex psychology, advancing tech, and unique creativity.

With the continuous evolution of technology and ingenious creative trends, it is equally important to focus on the psychology of gaming and how graphics can affect it. Along with cool sound effects, easy navigation, and attractive rewards, the proper application of colors and graphics can positively impact the gaming behaviors of the users.

People & Lifestyle

Met Gala 2024: See fashion highlights and best looks

Published

21 hours ago

May 7, 2024

VJ Scaro

The Met Gala’s red carpet never fails to deliver unforgettable moments in celebrity fashion, and this year’s event in New York City, themed “Sleeping Beauties: Reawakening Fashion,” was no exception. (more…)

People & Lifestyle

Social Trends: Elite Prom Night: Ugandan High Schoolers Arrive in Choppers & Supercars

Published

1 day ago

May 6, 2024

Ameyaw Debrah

Entebbe, Uganda – Elite High School’s prom night showcased opulence as students arrived in helicopters, Tesla cars, Mercedes-Benz, and Lamborghini, sparking social media buzz and discussions on the source of such wealth in a developing country.

Elite High School typically attracts attention from a wide range of people due to their extravagant Prom parties. The 2024 Prom party followed suit and garnered attention from government officials. On May 4th, a Saturday, students were eager to attend their Prom, which occurs before candidates start their final exams.

Beautiful scenes from Elite High School prom in Entebbe, Uganda
pic.twitter.com/qdZLuOtObC
— YabaLeftOnline (@yabaleftonline) May 6, 2024

Most students arrived dressed in their best attire, while some even hired luxurious cars. One student arrived in a helicopter with his date. After getting out of the helicopter, they were escorted into a luxurious car that transported them to the Prom venue.

Sky view of Elite High School Entebbe, Uganda.🔥🤯🙆🏾‍♂️ #elitehighschoolentebbe #elitehighschoolentebbeprom #prom pic.twitter.com/qGXktXRPCw
— #MrInfluencerUg 🇺🇬 🇳🇬 🇬🇭 (@MrInfluencerUg1) May 6, 2024

According to an interview with our presenters, Pam Malaika, and MC Ollo, sources revealed that the helicopter was hired from Bar Aviation at $1200 (approximately Ugandan Shillings 4.5 million), while the car, a V8 2022 Model, was hired for 6 hours at 3 million Ugandan Shillings.

Prom scenes from Elite High School Entebbe, Uganda.🔥🤯🙆🏾‍♂️ PART 2#elitehighschoolentebbe #elitehighschoolentebbeprom #prom pic.twitter.com/bAVdtgA6bC
— #MrInfluencerUg 🇺🇬 🇳🇬 🇬🇭 (@MrInfluencerUg1) May 6, 2024
Advertisement

Minister John Muyingo, however, expressed dissatisfaction with the Prom trends, stating, “Are these things happening in Uganda? Where are we going? Money is a scarce resource; it shouldn’t be given out and spent like that.