Stacey Vorster | University of the Witwatersrand
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On the evening of 26 July, over 5,000 people streamed into Wits Art Museum in Johannesburg to attend the opening of its latest exhibition, Warhol Unscreened: Artworks from the Bank of America Merrill Lynch Collection. Andy Warhol, an American artist known for his images of pop culture, celebrities and everyday objects, is arguably the person who invented fame and celebrity in the art world.
At the very least, Warhol is credited with coining the term “15 minutes of fame” after his statement that appeared in a programme for an exhibition in 1968.:
<blockquote>In the future, everyone will be world-famous for 15 minutes.</blockquote>
Warhol’s own world-fame has lasted decidedly longer. Almost 50 years later, he is still popular enough to pull unprecedented crowds to a museum on the southern tip of a continent that he never visited.
The Wits Art Museum show, which spans two floors, features many of Warhol’s iconic screen prints including a Marilyn and set of Campbell’s Soup Cans. And despite having seen these images in a hundred books, on t-shirts and mugs and countless TV and computer screens, it’s hard to not feel bewitched by the actual objects.
<img loading="lazy" decoding="async" class="alignright wp-image-280835 size-full" src="http://cnbc.africa/wp-content/uploads/2017/08/Andy-Warhol_Campbell-Soup-Cans_Flickr.jpg" alt="" width="1024" height="768" />
For one, they are much larger than expected and the surface quality of the print is so much more impressive in real life. Perhaps this reference is a ghost of some high school art history text book past, but Walter Benjamin’s “The Work of Art in the Age of Mechanical Reproduction”comes to mind. Published in 1936, German philosopher, Benjamin, differentiated between the original and the copy. He argued that the actual artwork has an “aura” that is complicated once a work is mass-distributed via reproduction.
For Benjamin, the aura is diminished by the copy, though he does not posit this as a negative effect. Rather, the death of the aura allows the viewer a different kind of subjectivity: one which is open to the politicisation of art.
<h2>The fragile surface of the American dream</h2>
Of course, in the context of mid-20th century America, Warhol’s works were political. They commented on capitalism and mass consumption. They commented on advertising and the fragile surface of the American dream advertised on larger-than-life billboards.
The process of screen printing is rooted in the very practice and effect of reproduction. What is fascinating, however, is that the blur between the original and the copy doesn’t seem to be at the forefront of the minds of visitors to the WAM exhibition.
Most of the works shown are one of an edition of 250 odd prints. In other words, these are “diluted” originals. They’re limited editions yes, but not in any way unique except for the small number marking the edition.
Nonetheless, the cult of genius that Warhol embodies, and which is clearly still inscribed onto the surface of these famous works, inspired thousands of selfies at the opening. Interestingly, the act of reproducing the images again — even viewing them through an additional screen in the form of cell phone cameras — seemed to be the mode through which the audience engaged. Warhol clearly had a prophetic grip on what the future indeed does look like.
<h2>Why is Warhol popular in Africa?</h2>
If we are to consider Benjamin’s prophecies too, it’s intriguing that the political context of post-apartheid South Africa manifests in small ways in the exhibition. Wits Art Museum has been under pressure in the last few years, caught in the crossfire of debates around what constitutes African art, who has the power to decide and how narratives are constructed, mediated and authored.
Increasingly, the museum is being challenged to show more African artists, contemporary and historical, rather than international blockbusters. The curators’ understandable self-consciousness of these issues comes through in several “feedback” installations, which ask the audience to consider the appropriateness of the Warhol exhibit in an African art museum. One of the panels asks:
<blockquote>Why do you think WAM should be showing the work of Andy Warhol?</blockquote>
And this is the question, right? Why is Warhol still so popular (in Africa) after the post-colonial turn? How do we reconcile the massive popularity of an exhibition of artworks by a dead white man, when Wits University, where the museum is located, is caught in the (sometimes violent) conflict of decoloniality?
Furthermore, as the #FeesMustFall and #RhodesMustFall student protest movements continue to unfold, how does the blatantly western capitalist flavour of these works go unnoticed as young people Instagram their participation in this spectacle? How is the late-capitalist neoliberal agenda screened or unscreened?
Un-ironically, the exhibition is sponsored by and comes from the collection of the Bank of America. But since Wits Art Museum couldn’t afford the copyright fees, the invitation and marketing of the show features imitation screen prints by local South African artists.
This exhibition embodies so many of the contradictions, complications and conflicts in both art and society in contemporary South Africa. What interrogation or translation of the exhibition can we look forward to as exams loom closer and universities brace for a possible third wave of protests? I look forward to reading the responses accumulated on the feedback panels in two months’ time.
Warhol Unscreened: Artworks from the Bank of America Merrill Lynch Collection runs until 8 October 2017

Op-Ed: Warhol in Africa – contradictions, complications and conflicts

Roger Southall | University of the Witwatersrand
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South Africa’s governing African National Congress has got itself into one hell of a pickle. The National Assembly is due to debate an opposition motion of no confidence  in President Jacob Zuma.
Were the motion to succeed, Zuma and his entire cabinet would be forced under the constitution to resign. The Speaker of the House would then become Acting President for up to 30 days while it goes about the business of electing a replacement, who would then serve as state president until the expiry of the present term of parliament in early 2019.
Yet the reality is that, save a political tsunami, the motion won’t succeed even though it’s common currency that Zuma is irredeemably corrupt and that he has sold his country out to the Gupta family. He has also alienated many of the ANC’s traditional allies, and the performances of the government and the economy under his rule have become increasingly shambolic.
Key figures in the ANC have indicated that their party’s MPs should vote with the opposition. These include former President Thabo Mbeki who has proclaimed that ANC MPs should vote in the national rather than the party interest. Similarly, the recently dismissed finance minister, Pravin Gordhan, has urged MPs to allow their consciences to dictate their votes.
Despite such calls, only two ANC MPs, Makhosi Khoza and Mondli Gungubele, have openly declared that they will vote with the opposition. The ANC has indicated it will subject Khoza to disciplinary proceedings. Gungubele may well face a similar fate. If the ANC follows through on its threats, both may lose their jobs (for if a party expels an MP from party membership, the MP concerned can no longer sit in parliament).
There are certainly other MPs sitting on the ANC benches who recognise the damage that Zuma has done. But it appears they have been held back from speaking out because of the threat of dismissal from parliament and the loss of salary and status that would involve.
It’s for this reason that the opposition has set such store on securing a secret ballot – reckoning that this will allow ANC MPs to vote in favour of the motion while circumventing the risk of party discipline.
<h2>ANC’s conundrum</h2>
When faced by the request of the opposition parties that she allow a secret ballot on the no confidence motion, Baleka Mbete, the Speaker of the House (and a member of the ANC’s National Executive Committee) declared that she did not have the power to grant the request under the rules of the Assembly. However, after being approached by opposition parties, the Constitutional Court subsequently ruled that a secret ballot was permissible, throwing the decision back into her lap. Mbete has yet to make public her decision.
In the end she sought to deflect criticism by announcing in favour of a secret ballot – but only at the last minute.
But even if enough ANC MPs were to align themselves with the opposition to unseat Zuma, the ANC would remain in control of the immediate situation because it would retain its majority in the House, and it would be another ANC MP who would be elected to serve as president.
Yet win or lose the vote, the consequences for the ANC are dire.
<h2>Options for the ANC</h2>
The party faces three possible options:
<ul>
<li>The ANC wins the vote by a substantial majority, with only a handful of ANC MPs voting with the opposition. Supposedly this would be a massive victory for the ruling party, yet it will fly in the face of not just the parliamentary opposition, but a massive body of popular opinion throughout the country. The ANC would have voted to keep a deeply corrupt president in power, with probable long term disastrous electoral consequences. Any internal ANC “reform” project will be more likely to fail.</li>
<li>The ANC just scrapes home by a small majority, indicating that a substantial body of the party’s MPs have voted for Zuma to go. Cue internal party turmoil. Will the dissident MPs own up? If they do, will they face party discipline? What would happen if the dissidents were known to include party heavyweights (and potential candidates for the party leadership at the party’s national congress in December 2017) such as Cyril Ramaphosa and Lindiwe Sisulu? Subjecting them to party discipline would risk not just massive intra-party division, but a split within the party – and the further danger that they might team up with the opposition.</li>
<li class="align-right ">The ANC loses the vote, and Zuma is forced to stand down as state president. In this case, the ANC is openly divided, and all hell would break out within the party ahead of its conference in December. An ANC MP, probably Deputy President Cyril Ramaphosa, would be elected as state president, but Zuma would remain as party president.
<div id="attachment_120551" style="width: 310px" class="wp-caption alignright"><img loading="lazy" decoding="async" aria-describedby="caption-attachment-120551" class="wp-image-120551 size-medium" src="http://cnbc.africa/wp-content/uploads/2017/04/Cyril-Ramaphosa-GovZA-300x213.jpg" alt="" width="300" height="213" />Photo: Government ZA</div></li>
</ul>
The ANC would be at war with itself, with little or no prospect of it facing the electorate in 2019 in one piece. Were the ANC to offer Zuma an amnesty from prosecution, they would face a massive public backlash. If they didn’t, they would face the very real prospect of his having to face trial, with the party’s extraordinarily dirty linen being washed in public for the foreseeable future.
Whatever happens, Zuma will work ceaselessly and ruthlessly after the debate to secure the party presidency for his former wife, (and favoured candidate) Nkosazana Dlamini-Zuma, reckoning that in so doing, he will retain the power to shape events (and not least, to keep himself out of jail).
Meanwhile, those opposing Zuma will need to rapidly group behind one leader (presumably the new state president) if they are to stand a decent chance of securing enough control over the party organisation to defeat Dlamini-Zuma in December. Rivalry between the prospective anti-Zuma candidates for the party leadership (notably Ramaphosa, Lindiwe Sisulu and Mathews Phosa), would only weaken their chances of victory.
<h2>Ominous future</h2>
Tim Cohen, editor of Business Day, has indicated, sagely, that the Zuma presidency has begun to wind down as the #Gupta Leaks – the series of emails detailing the extent of the Gupta family’s control of the state – reveal more and more dirt. More and more ANC rats will desert the sinking ship and seek safety on a new (anti-Zuma) ANC vessel.
Yet even if the anti-Zuma campaign was to gain enough momentum for victory in December, it will come at massive cost. Not the least of these dangers is that the already alarmingly high rate of intra-party killing of rivals will increase.
It’s difficult to imagine that the ANC will be in any reasonable shape to face the electorate in 2019. Although ostensibly it may yet put on a decent show, it seems inevitable that it will lose numerous votes and a large swathe of MPs.
The looming danger is that in facing the risk of defeat, the party will be tempted to subvert a contrary result in the 2019 election.

Op-Ed: Zuma no confidence vote: the ANC is the loser, whatever happens

Wessel Lemmer, Senior Agricultural Economist | Absa
The practice of cultivating grasses such as wheat, nearly 10,000 years ago, laid the foundations of today’s large urbanized communities. And strangely enough, traditional farming practices as we know today have not changed that much during this age.
It is only in the past century that we have seen significant leaps in agriculture, as the challenge of feeding a global population confronted producers. Machinery, irrigation, road and rail infrastructure, markets, and seed modification, are just some examples of technology that have revolutionized crop output in this time.
Water scarcity
In the last two decades, South Africa has lost close to 30% of its farmlands due to water scarcity. Recently, the Western Cape has seen the worst drought to hit the region in the last century. Deciduous fruit growers in the province feel increased pressure to conserve water as rainfall becomes less predictable and other industries demand a greater share of piped water. This means that farmers face the challenge of producing more fruit, while reducing the impact they have of the province’s water supply.
The Western Cape Agricultural Department has decided to fund the development of an open web portal, called FruitLook. This application grants farmer’s access to satellite-based information catered to their location, crop, water usage, and a multitude of other factors. The software also provides detailed weekly updates on actual evapotranspiration, biomass production and leaf nitrogen content.
Statistics released by SA Wine Industry and Systems, showed that 300 000 jobs relied on the wine industry in South Africa, and contributed R36 billion to the nations GDP in 2016. However, factors such as water scarcity and competitive global markets has had its affects, whittling away 900 producers in the past decade.
The Department has now made FruitLook free-to-use for farmers in the region, meaning meteorological data, satellite imagery and available local data that provide near real-time information on crop health, give farmers greater security and control of their businesses. Stress areas such as water, soil and disease, can then be investigated further to determine what solutions farmers can implement to mitigate production loss.
Technology disruption
Mobile technology is aiding in far more than physical data. Farmers in rural areas on the continent are increasingly using mobile solutions to source buyers, other traders that allow for better leveraging, and the best prices possible for their produce, using platforms such as Agrista, of which Absa is a partner.
Simple changes in practices can result in better efficiencies, reduced impact on the environment, and farmland less prone to climatic changes, all of which have a positive influence on production yields. There is much room for development to harness the potential of agriculture in young people’s lives, by improving financial literacy, building technology and innovation skills and creating a new breed of policymakers in order to see the implementation of better policies.
The South African wine industry and agricultural sector as a whole, has shifted towards a more intensified production system. This shift from the traditional sense of farming has included increased irrigation, fuel, mechanization, use of genetically modified seed and fertilizer inputs. In coping with increasing populations, and our fragile ecosystem experiencing more frequent droughts, modern technologies will continue to impact on farming methods we have traditionally come to know.
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Water scarcity drives a new wave of practices in Cape winelands

Faith Kiboro | SMC University
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The democratic ideal visualises a government in which supreme power is vested in the people. They exercise this power indirectly through a system of representation that allows them to elect the leaders of their choice.
In practice, the reality is far more complex. The influence of big business in financing parties and candidates means that some of the biggest owners of capital are inextricably linked to high-level politics.
For example, the funding of US presidential campaigns by big business interests is often hidden in contributions to independent political action committees, or super PACS. The committees can raise unlimited sums of money from corporations, unions, associations and individuals, then spend unlimited sums to overtly advocate for or against political candidates.
As an old maxim goes:
<blockquote>He who controls the country’s wealth controls its politics.</blockquote>
When wealthy business people invest in elections they expect their interests to be protected. This has been the expectation in Kenyan politics since the birth of the nation. Over the years, the influence of big business has grown and led to deeper entrenchment of the minority elite.
Big business interests in Kenya range from banking, to manufacturing, construction, retail and wholesale concerns, farming, insurance, and media among many others. Quite a number of large corporations and wealthy business people rely heavily on political patronage to maintain a steady growth trajectory.
Kenya is also experiencing the rise of the “tenderpreneur” &#8211; a person who uses their political connections to secure government contracts for personal advantage.
So who finances political campaigns in Kenya? It’s a difficult question to answer because campaign financing arrangements are opaque, and there’s no legal obligation for sponsors to declare all their interests. Large corporations and high net worth individuals tend to be discrete about their donations, but have been known to attend fundraising dinners and to quietly join political foundations.
This model denies the people a seat at the table by allowing only the wealthy minority to participate in determining electoral outcomes. The effect has been to lower trust in the electoral system. Coupled with deep ethnic cleavages, this has led to violence and conflict around elections as different groups jostle for the privileges that come from holding power.
The relationship between big money and the electoral process is worth considering in Kenya at a time when inter-ethnic conflict and violence is so closely linked to the electoral cycle.
<h2>Redesigning campaign financing</h2>
There is a way out of this. In a functioning democracy financing would be open and transparent to the public and not limited to a small section of the population. This would reduce the monopoly of state tools by a minority elite, by increasing the democratic space for the majority voice.
True democracy presupposes equality of opportunity and transparency in campaigning that reduces the advantage held by wealthier parties and candidates.
But how to achieve this? Given Kenya’s context it wouldn’t make sense simply to mirror the political funding models of the West. The country needs to come up with its own system to suit the African context. Campaign financing needs to be redesigned so that it’s more transparent.
That said, some attempts at reform have been made. Kenya’s main political parties are now entitled to funding by the exchequer under the Political Parties Act. But a party must have received at least 3% of the total votes cast in a general election to qualify for funding. This means that only the big parties benefit.
In the 2014-2015 financial year, for example, the National Alliance received USD$866,679, Orange Democratic Movement USD$848,239 and United Republican Party USD$273,688 on the basis of their numbers in parliament.
According to the Election Campaign Financing Act (2013) political parties can receive up to Sh15 billion (USD$150 million) in contributions, and individuals can make single contributions of up to Sh3 billion (about USD$30 million). Presidential candidates are limited to spending Sh5 billion (USD$50 million) for the duration of the campaign period.
The law doesn’t bar political parties and candidates from raising funds to facilitate their campaigns, or making use of money raised by their friends through events such as fundraising dinners.
But even existing regulations aren’t strictly adhered to. For instance, political parties are failing when it comes to campaign-finance reporting. In practice, very little meaningful political finance data is reported, and even less is easily available to the public.
Reforms to Kenya’s laws on party financing are being considered. But crucial amendments to the legislation that would have improved transparency have stalled. This means that party finances are still not well tracked and therefore, large corporations and wealthy individuals can continue to heavily fund campaigns without much scrutiny.
<h2>What steps should be taken</h2>
There are steps Kenya should consider to increase the country’s resilience as a society especially during election time.
First, the country must acknowledge that there’s a connection between the money being spent and the influence of special interests on the political process.
Secondly, it’s critical to distinguish between the money necessary for a candidate’s voice to be heard, and that being used to corrupt the political process. If money must be raised for campaigns in a transparent way, then regulations and laws governing campaign financing are crucial.
Third, the issue is not necessarily the sheer amount being spent. The problem is a political system in which the overwhelming majority of political contributions come from a tiny number of individuals. Kenya must shift from this model of financing because it turns politics into a high-stakes game that very often turns violent.
Given that campaign contributions are often understood as purchases of “goodwill” whose returns benefit a select group of political entrepreneurs, reducing their margin of influence is a step in the right direction.

Op-Ed: Kenya’s election jitters have roots in campaign financing. It’s time to act

The leaders of Tanzania and Uganda laid a foundation stone on Saturday for the construction of a $3.55 billion-crude export pipeline that would pump Ugandan oil for international markets.
The 1,445 km-project &#8211; set for completion by 2020 &#8211; will stretch from landlocked Uganda&#8217;s western region, where crude reserves were discovered in 2006, to Tanzania&#8217;s Indian Ocean seaport of Tanga.
The project will become &#8220;the longest electrically heated crude oil pipeline in the world,&#8221; said Guy Maurice, Senior Vice President of Africa at Total Exploration and Production.
Total is one of the owners of Ugandan oilfields, alongside China&#8217;s Cnooc and Britain&#8217;s Tullow Oil.
Tanzanian President John Magufuli, flanked by his Ugandan counterpart Yoweri Museveni, urged the three joint venture partners to speed up construction of the pipeline.
&#8220;We don&#8217;t need to delay the completion of the project for almost three years. They can do it even night and day to ensure the project is completed as quickly as possible,&#8221; Magufuli said.
&#8220;Act with big speed and make sure you finish this project before 2020.&#8221;
Uganda estimates overall crude reserves at 6.5 billion barrels, while recoverable reserves are seen at between 1.4 billion and 1.7 billion barrels.
Kampala said it picked Tanzania over its other neighbour Kenya as the route for the proposed 24-inch export pipeline because it was a &#8220;least cost and least risky&#8221; option.
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&#8220;Tanzania offered several concessions to make the pipeline profitable inspite of the falling global crude oil prices,&#8221; said Museveni.
Tanzania agreed to waive taxes, offered to take up shares in the pipeline project and charge a tariff of $12.2 per barrel to make the project feasible, he said.
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Reporting by Fumbuka Ng&#8217;wanakilala; Editing by Aaron Maasho
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Uganda, Tanzania start work on construction of $3.5BN oil pipeline

KIGALI (Reuters) &#8211; Incumbent leader Paul Kagame has swept to a landslide victory in Rwanda&#8217;s presidential election, results showed early on Saturday, securing a third term in office and extending his 17 years in power.
Kagame has won international plaudits for presiding over a peaceful and rapid economic recovery in the Central African nation since the 1994 genocide, when an estimated 800,000 people Tutsis and moderate Hutus were killed.
But he has also faced mounting censure for what critics and rights groups say are widespread human rights abuses, a muzzling of independent media and suppression of political opposition.
With 80 percent of votes counted from Friday&#8217;s election, the 59-year-old former guerrilla leader had secured 98.66 percent, the National Electoral Commission&#8217;s Executive secretary Charles Munyaneza told a news conference.
&#8220;We expect that even if we get 100 percent of votes, there will not be any change,&#8221; he said.
The full count will be released at 1400 GMT on Saturday.
The board expects turnout to have topped 90 percent in the East African country of 12 million people, in an election that fielded only a single opposition candidate, Frank Habineza, and an independent.
Kagame said he would work to sustain economic growth in the tiny nation.
&#8220;This is another seven years to take care of issues that affect Rwandans and ensure that we become real Rwandans who are (economically) developing,&#8221; he said in a speech broadcast live on television.
Under his rule, some dissidents were killed after fleeing abroad, in cases that remain unsolved. The government denies any involvement.
		
				
		
Kagame, a commander who led Tutsi rebel forces into Rwanda to end the 1994 genocide, banned the use of tribal terms after becoming president.
He won the last election in 2010 with 93 percent of the vote and had said during this campaign for a further seven-year term that he again expected an outright victory.
Habineza, who has so far won 0.45 percent of the early count, had promised to set up a tribunal to retry dissidents whose convictions by Rwandan courts have been criticised as politically motivated.
		
				
		
Another would-be opponent, Diane Rwigara, was disqualified by the election board despite her insistence that she met all the requirements to run.
Some voters celebrated the election result into the early hours of Saturday, said John Habimana, owner of the popular Roasty Bar in the capital Kigali.
&#8220;Last night was fantastic. People kept coming in until my bar had more than 200 people. I usually get 100 on normal days. They were all celebrating and I left at 2 am but they were still dancing and more were coming,&#8221; he said.
Other residents were less happy.
&#8220;To me I see this as a one-man race. I simply did not go to vote,&#8221; said one man in Kigali who asked not to be named.
Writing by Aaron Maasho; Editing by Katharine Houreld and Gareth Jones

Elections: Rwanda’s Kagame wins third presidential term by a landslide

Global discount retailers Steinhoff and its subsidiary Steinhoff Africa Retail (STAR) have entered into call option agreements with Lancaster Group Proprietary, the Public Investment Corporation  and Titan Premier Investments, a family trust of Billionaire Christo Wiese to acquire economic and voting interests in Thibault Square Financial Services and Africa&#8217;s largest retail group &#8211; Shoprite for R8 billion or $593 million. Once the call option is exercised Steinhoff and its subsidiary will hold a 22.7% economic interest and 50% of the voting rights in Shoprite.
STAR is expected to list by the end of September, subject to market conditions. It will list by way of a capital raising in order to establish the public shareholding spread and liquidity required by the JSE. The proceeds will be distributed to Steinhoff.
STAR is likely to be included in the JSE Top 40 Index and other relevant emerging market 
indices, such as the MSCI Emerging Market Index.
http://cnbc.africa/news/financial/2017/05/17/steinhoff-international-list-african-retail-assets-jse/
Its brands include Pep in South Africa and the rest of Africa, Ackermans, Speciality division (comprising Dunns, John Craig, Refinery and Shoe City), JD Group (comprising Russells, Bradlows, Rochester, Sleepmasters, Incredible Connection and Hi-Fi Corporation), Steinbuild (comprising Buco, Timbercity, Hardware Warehouse and The Tile House), Poco South Africa and Tekkie Town.
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Steinhoff African unit to be part of JSE Top 40, buy stake in Africa’s largest retailer Shoprite

Rwandan voters queued in long lines on Friday to cast their ballots in a presidential election that incumbent President Paul Kagame is tipped to win by a landslide after 17 years in power.
Kagame has won international plaudits for presiding over a peaceful and rapid economic recovery in the tiny central African nation since the 1994 genocide, when an estimated 800,000 people Tutsis and moderate Hutus were killed.
But he has also faced mounting censure for what critics and rights groups say are widespread human rights abuses, a muzzling of independent media and suppression of political opposition.
Some political opponents were killed after they fled abroad, in cases that remain unsolved. The government denies any involvement and the cases appear to have done little to blunt Kagame&#8217;s domestic standing among Rwanda&#8217;s 12 million citizens.
&#8220;Even if I am poor, I voted for Kagame for restoring peace and security,&#8221; said 45-year-old farmer Appolinaire Karangwa, who cast his ballot in the capital Kigali.
Kagame, a commander who led Tutsi rebel forces into Rwanda to end the 1994 genocide, banned the use of tribal terms after becoming president. He won the last election in 2010 with 93 percent of the vote and during this campaign for a further seven-year term said he expected to win nearly 100 percent.
Kagame&#8217;s main opponent, Rwandan , voted early on Friday at Kimoronko, a polling station in Kigali.
He told reporters shortly after voting that his campaign had been hobbled because it could not compete with the machinery of the state.
&#8220;All state structures belong to his party. It is not very easy but we are also strong,&#8221; he said.
If elected, Habineza has promised to set up a tribunal to retry dissidents whose convictions by Rwandan courts have been criticised as politically motivated.
Another would-be opponent, Diane Rwigara, was disqualified by the election board despite her insistence that she met all the requirements to run.
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Additional reporting by Elias Biryabarema; Editing by Katharine Houreld and Gareth Jones
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Rwandan polls open in election expected to hand Kagame third term

KIGALI (Reuters) &#8211; Rwandan voters queued in long lines on Friday to cast their ballots in a presidential election that incumbent President Paul Kagame is tipped to win by a landslide after 17 years in power.
Kagame has won international plaudits for presiding over a peaceful and rapid economic recovery in the tiny central African nation since the 1994 genocide, when an estimated 800,000 people Tutsis and moderate Hutus were killed.
		
				
		
But he has also faced mounting censure for what critics and rights groups say are widespread human rights abuses, a muzzling of independent media and suppression of political opposition.
Some political opponents were killed after they fled abroad, in cases that remain unsolved. The government denies any involvement and the cases appear to have done little to blunt Kagame&#8217;s domestic standing among Rwanda&#8217;s 12 million citizens.
&#8220;Even if I am poor, I voted for Kagame for restoring peace and security,&#8221; said 45-year-old farmer Appolinaire Karangwa, who cast his ballot in the capital Kigali.
Kagame, a commander who led Tutsi rebel forces into Rwanda to end the 1994 genocide, banned the use of tribal terms after becoming president. He won the last election in 2010 with 93 percent of the vote and during this campaign for a further seven-year term said he expected to win nearly 100 percent.
Kagame&#8217;s main opponent, Frank Habineza, voted early on Friday at Kimoronko, a polling station in Kigali.
		
				
		
He told reporters shortly after voting that his campaign had been hobbled because it could not compete with the machinery of the state.
&#8220;All state structures belong to his party. It is not very easy but we are also strong,&#8221; he said.
<div class="DPSlot_container_2dHIN DPSlot_inline_1oeo6 in-article-tag">If elected, Habineza has promised to set up a tribunal to retry dissidents whose convictions by Rwandan courts have been criticised as politically motivated.</div>
Another would-be opponent, Diane Rwigara, was disqualified by the election board despite her insistence that she met all the requirements to run.
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Reporting by Clement Uwiringiyimana
Additional reporting by Elias Biryabarema; Editing by Katharine Houreld and Gareth Jones
</div>

Elections: Rwandan polls open, Kenya, Angola to follow later this month

Nigeria will legalise currently outlawed mini refineries in the Niger Delta oil hub by the end of the year and supply them with crude at a reasonable price, the presidency said on Thursday, fulfilling demands from community leaders.
On Monday, Niger Delta leaders threatened to pull out of peace talks with the government unless their demands were met by Nov. 1.
&#8220;The Federal Government has started the process of replacing illegal refineries in the region with modular ones,&#8221; the presidency said in a statement as Acting President Yemi Osinbajo met Niger Delta community leaders in Abuja.
Each of the Niger Delta states would receive two modular refineries to start up in the fourth quarter, the statement said.
The community leaders welcomed the outcome of the meeting.
&#8220;The meeting was excellent. We met with Mr Acting President and the discussion was very honest, truthful, forthright. We are very, very satisfied. No more ultimatum,&#8221; Edwin Clark, head of the community leaders, told reporters.
The government has been in talks with community leaders since last year to end militant attacks on oil production facilities, which cut the OPEC member&#8217;s output by 700,000 barrels a day for several months last year.
But a military crackdown on thousands of illegal refineries in the southern swamps, which process crude oil stolen from oil majors and state oil firm NNPC, has raised tensions.
The refineries process stolen crude in makeshift pipes and metal tanks hidden in oil-soaked clearings deep in the southern swampland&#8217;s thick bush land.
The Niger Delta leaders had presented President Muhammadu Buhari a list of 16 demands last November to drag the southern swampland out of poverty. The militants then halted attacks to give the talks a chance.
The presidency said it was also discussing with oil majors to move their regional headquarters to the Niger Delta, another demand from communities complaining they do not benefit from the crude in their region.
&#8220;There is more consensus,&#8221; Oil Minister Emmanuel Ibe Kachikwu said after the meeting, without elaborating. &#8220;Today was an environment of peace, calm, friendliness, and mutual dialogue of issues.&#8221;
Osinbajo was appointed by Buhari to head Nigeria while Buhari is on medical leave in Britain for an undisclosed ailment.
Oil exports are now set to exceed 2 million barrels per day (bpd) in August, the highest in 17 months, from as little as just over 1 million bpd at certain points last year, thanks to a steady decline in attacks on pipelines.
<div class="Attribution_attribution_o4ojT" data-reactid="46">
Reporting by Felix Onuah; Writing by Ulf Laessing; Editing by Grant McCool and Andrew Hay
</div>

Nigeria to legalize mini refineries, supply them with crude

Mills Soko | University of Cape Town
South Africa is reeling from a string of scandals involving state owned enterprises and the Guptas, a family with close ties to President Jacob Zuma. A trove of recently leaked Gupta emails exposed the involvement of prominent businesses in the extensive corruption networks. Sibonelo Radebe asked Mills Soko to explain the implications of the scandals.
What do you make of the situation?
If nothing else, the Gupta leaks have shown us how perilously close South Africa is to losing everything so many people fought so hard for. Not only does corruption divert capital allocated for public services away from the poor, it hollows out important state institutions and, ultimately, frays the social and economic fabric of the country. It threatens the hard won democracy and political stability.
The ongoing revelations around state capture and patronage are giving South Africans an unprecedented and frightening glimpse into the machinery of corruption. The most unnerving element of the emails is how many of the transactions appear blatant and almost casual. The absolute cynicism and lack of ethics revealed in this correspondence is breath taking.
What we do with this knowledge as a country is going to count for everything. As a business community we can look away and call these tales of corruption isolated incidents – or we can step up to ensure that our organisations hold themselves to a higher standard. Most critically the law must take its course.
What does it tell us about the role of business?
The emails remind us that in any corrupt interaction it takes two to tango. And while governments and public money are so often at the centre, the enablers of corruption are not in government but in the private sector.
With the Gupta’s at the centre of the rot, prominent international companies like accounting firm KPMG, consulting giant McKinsey, ICT player SAP, engineering company Liebherr and capital equipment manufacturer Shanghai Zhenhua Heavy Industries have been implicated in the mounting scandal. It’s worrying to see that companies of such calibre can be involved in such nefarious activity.
Corruption is, of course, not a new phenomenon – and nor is it unique to South Africa, as the Global Corruption Index shows. But certainly, the scale of what is going on in South Africa right now is unprecedented.
How do you rate the responses by the implicated businesses?
Companies have scrambled to distance themselves from the reputational firestorm that the Gupta leaks have unleashed. McKinsey acted promptly to suspend Vikas Sagar, a director in its South African office, to allow an internal investigation to proceed. For its part SAP, which originally denied the allegations, has similarly suspended South African staff while launching a full anti-corruption investigation , which is to be carried out by a multinational law firm and overseen by its executive board member Adaire Fox-Martin.
It’s convenient to blame these incidents on bad apples. But this doesn’t get below the surface of what is really going on. The scale of the corruption and the apparent ease with which it has been unfolding speaks to the fact that something is very wrong with the system. And it highlights an utter lack of business ethics and governance failures. This isn’t something the country can afford.
What should be done to root out the corruption?
While all of this may seem overwhelming, what is unfolding also presents the business community with an opportunity for some introspection. Calls have been made for greater purpose and responsibility on the part of South African leaders.
But how can we make sure these fine words and intentions are internalised? How do we make sure as a country that our business as well as our state institutions are committed to not allowing this to happen ever again?
Educational institutions, business schools in particular, are positioned as a first-line duty in making sure that graduates are equipped to recognise and reject corruption in any form. The country needs business leaders who are committed to building sustainable and profitable businesses but who are also mindful of their social and ethical obligations.
Citizens as workers and consumers also have a significant role to play. As individuals working in companies and purchasing goods and services from companies, they can condemn unethical behaviour from companies. This was partly reflected in how the general public put pressure on Bell Pottinger the UK based public relations firm which did work for the Gupta’s.
By rounding on Bell Pottinger, effectively causing the company to lock its Twitter account and issue a formal and unprecedented apology to the country (even though they also blamed the fiasco on bad apples rather than the system), South Africans have shown the power they can wield when united against wrongdoing.
But the country needs to go further. While government and business have not enjoyed the best relationship in recent times, they need to bury the hatchet and come together to fix the inequalities in this country. Deep divisions have laid South Africa open to the kind of racist exploitation that Bell Pottinger unleashed.
Until the country rights this situation, it will continue to remain vulnerable to these kinds of nefarious influences. South Africa needs to be united in the spirit of building a country that works for everyone – not just a select few. Things are broken, yes – but it’s not impossible to repair the damage.

South African business must own up to its part in the corruption scandals

Nelson Alusala | Senior Research Fellow, University of Pretoria
President Joseph Kabila of the Democratic Republic of the Congo has barely five months to save his 17-year regime from a cataclysmic ending. According to the 31 December 2016 all-inclusive political agreement, Kabila should organise elections and hand over power.
But in a recent interview, Kabila said he wasn’t going to “promise anything” on when he would leave office. This stand is in violation of the political agreement brokered by the Conférence Episcopale Nationale du Congo (CENCO).
The agreement sets clear terms for Kabila’s exit. His second presidential term ended on 19 December 2016. The agreement allowed him an extension of one year on condition that he would neither seek a third term, nor attempt to amend the constitution to remain in power beyond December 2017.
But Kabila has not implemented the reforms that would pave way for an election. In addition, the country’s national elections commission shows no momentum. The country’s national elections commissioner, Corneille Nangaa, stated recently that presidential elections would probably not take place this year because of the conflict in the Kasai region and the fact that there isn’t a comprehensive electoral register.
The opposition called Nangaa’s statement a declaration of war.
Read together, the president’s unwillingness to give a clear indication that he will step down, and Nangaa’s projection that there might not be a 2017 election, point towards a well orchestrated plan to delay the vote.
This has deeply polarised the country which is on the brink of increased violence. With just five months before Kabila’s one-year grace period expires, a number of warning bells have gone off from various corners of the globe.
<h2>Delay tactics</h2>
Even before the expiry of his constitutional mandate in 2016 Kabila employed various strategies to prolong his stay in power. His game plan dates back to early 2011 when he amended the constitution to establish a single-round, simple-majority election system.
Since then he has made numerous other attempts to manipulate the system to his advantage. Three stand out.
In January 2015, the National Assembly passed a law that called for a national census as a precursor to national elections. The opposition parties and the public saw this as a ploy to enable Kabila to stay in power indefinitely – a national census exercise had the potential to go on for years.
After mass demonstrations across the country the senate was forced to renounce the move.
The second attempt came in May 2016 when the DRC’s constitutional court ruled that if the election did not take place by the end of his second term, Kabila could stay in office until a new president was elected. This ruling exploited a constitutional loophole which states that,
<blockquote>“ …if for whatever reason, there is not a new president or a president-elect in place at the time when the current president’s term ends, then the sitting president stays in place, until there is a new president elect.”</blockquote>
The court ruling triggered mass demonstrations particularly in the capital Kinshasa.
In a third attempt, Kabila set out to placate the opposition and to convince them that organising an election within the required time frame would be impractical. In November 2015 he announced that the country would engage in national, all inclusive political dialogue bringing together the opposition, civil society and religious groups.
He highlighted five key areas of discussion. They included creating a credible voters roll, agreeing on the election calendar, securing the election process, financing the poll, and the role of international partners in the elections.
Many in the country were sceptical about Kabila’s proposal and by June 2016 it hadn’t gained support. This was despite the African Union appointing Edem Kodjo to mediate the process.
A MONUSCO (the United Nations Mission in the Congo) report stated that the main opposition groupings – Dynamique de l’opposition, and the Groupe des sept (G7) &#8211; were describing the call for dialogue as a ‘trap’ set by Kabila.
Kodjo’s facilitation finally culminated in a political agreement between Kabila’s coalition and the Union pour la Nation Congolaise, an opposition party led by Vital Kamerhe. Among other controversial decisions, the agreement stipulated that the current president would remain in power until elections were held and his successor assumed office, in line with the May 2016 constitutional court ruling.
The rest of the opposition, which had boycotted Kodjos’s mediation, denounced the AU-led agreement. The effect was to split the country in two.
In an effort to break the impasse, a mediation led by CENCO organised consultations between the signatories and non-signatories to the AU-led agreement leading to the all inclusive political agreement of 31 December 2016. As mentioned above, Kabila seems to be ignoring its implementation.
<h2>Unheeded warnings</h2>
The UN has warned that the political impasse, rising insecurity across the country, and the worsening human rights and humanitarian situation could easily plunge the country into total chaos. In particular, it has pointed to the ongoing inter-ethnic violence in the Kasai region.
The world body has called for a successful political transition underpinned by free, fair and inclusive elections.
The UK has also cautioned that unless Kabila holds elections within the agreed time lines, the political uncertainty and instability in Kinshasa will spread across the country.
And the UN Under Secretary General for Peacekeeping Operations Jean-Pierre Lacroix, has also warned that there’s a risk that the gains of the last 17 years will be reversed if Kabila fails to arrange a successful transition.
A change of heart by Kabila could see him go down in history as the first Congolese president to hand over power democratically. The decisions he makes in the next five months will determine whether his 17-year rule will be worthy a legacy.

Op-Ed: Why Kabila’s bid to remain in power is bad news for the DRC

Nigeria is expected to emerge from recession this year, but threats to recovery remained elevated and the economy will not grow enough to reduce unemployment and poverty, the International Monetary Fund said on Wednesday.
Nigeria slipped into a recession last year as low crude prices and oil production slashed government revenues, caused dollar shortages and crippled its economy.
The Fund projected Nigeria&#8217;s economy will grow 0.8 percent this year, it said in a report.
&#8220;Concerns about delays in policy implementation, a reversal of favorable external market conditions, possible shortfalls in agricultural and oil production, additional fiscal pressures, continued market segmentation in a foreign exchange market that remains dependent on central bank interventions, and banking system fragilities represent the main risks to the outlook,&#8221; the IMF said.
&#8220;Acting on an appropriate and coherent set of policies to enhance an economic recovery remains urgent,&#8221; it said after a team visited Nigeria last month to review reform implementation.
The IMF said the government saw significant revenue shortfalls in the first half of the year, with interest-payments remaining as high as 40 percent at end of June. It projected interest payments would rise further under current policies.
Nigeria expects a shortfall of $7.5 billion for its 2017 budget. It expect to raise around half that in foreign loans including, from the World Bank and from international debt markets.
<div class="Attribution_attribution_o4ojT" data-reactid="45">
Editing by Larry King
</div>

Nigerian economy to grow 0.8% this year, but risk remains: IMF

Keith Fenner | VP, Sage Enterprise Africa &amp; Middle East
Think back to the last time you attended a meeting with millennials. Did they seem disengaged? Distracted by their devices? More interested in what was happening on the other side of the window?
Could you not help but think back to when you were that age, when you diligently recorded appointments in paper diaries; when you paid attention to every word that was spoken during long internal meetings; when email and mobiles were only just entering the workplace and collaboration was a face-to-face exercise?
<img loading="lazy" decoding="async" class="aligncenter wp-image-258871 size-full" src="http://cnbc.africa/wp-content/uploads/2017/08/Millennials-Meetings.jpg" alt="" width="1550" height="815" />
Young adults of today, right?
But let me tell you something about this  younger generation of today. <a href="https://www.forbes.com/sites/lisaearlemcleod/2015/10/01/why-millennials-keep-dumping-you-an-open-letter-to-management/#6edaddf560b1">These digital natives make up 35% of the workforce</a>. By 2020, that figure will rise to 46%. In ten years, they’ll represent <a href="https://www.forbes.com/sites/kevinkruse/2017/05/11/how-to-harness-the-power-of-a-millennial-workforce/#7931d65f382b">75% of the working population</a>.
They are demanding change. They want to dictate their own hours, to work when they’re most productive, to use digital tools to collaborate, share information and get the job done – as quickly as possible.
The more things change, the more they stay the same
The winds of change are blowing through every enterprise but there’s one thing that hasn’t changed: meetings. If we’re honest, meetings are usually distracting, they often don’t achieve much and they hamper productivity.
And why are they always an hour long (or sometimes longer)?
If there’s one thing we can learn from this younger generation, it’s the value they place on their time. Why gather everyone in a room to discuss a project for an hour when it could just as easily be done in minutes over <a href="https://slack.com/">Slack</a> or a quick chat at the coffee machine? Why pull everyone away from their work when a message on Skype for Business or WhatsApp is more effective?
Here are a few ways you can improve collaboration and productivity, while making the most of your meetings:
<ul>
<li>Embrace technology. Standardise on a set of collaborative digital tools that make it easy to coordinate tasks and projects. With Slack, for example, you can quickly set up ‘channels’ by project, client or team, so that you can chat and share files in real-time.</li>
<li>Set an agenda. Outline what needs to be achieved or agreed upon by the end of the meeting and send it to all participants beforehand. This gives them time to prepare, resulting in shorter, more effective meetings. The agenda keeps everyone on track and helps the organiser to prepare adequately. Also, never call last-minute meetings. These are almost always a waste of time because attendees don’t have time to prepare and may feel disrupted.</li>
<li>Schedule shorter meetings. Having an agenda keeps everyone focused and lets you achieve more in less time. Communications expert <a href="http://www.andybounds.com/84/section.aspx/82/never_have_onehour_meetings">Andy Bounds</a> suggests limiting meetings to a maximum of 45 minutes. Shaving off 15 minutes from one meeting a day buys back an entire working week at the end of a year.</li>
<li>If a meeting is not going to be a valuable use of your time, decline it. The meeting organiser should have a solid reason why you need to attend and should only include people who can make a meaningful contribution to the action points. Ask the organiser what they need from you and see if you can supply that information over email. If you can’t add value to the discussion, excuse yourself from the meeting.</li>
<li>Plan for internal meetings. Tell your team when you are available for internal meetings and ask them to respect your time. Similarly, if you’re the one organising the meeting, be considerate of your team and clients’ time – is it crucial that they attend?</li>
</ul>
Meetings aren’t all bad. They can be good for team morale, collaboration and brainstorming. Cutting down on the quantity and focusing on the quality of meetings can make an enormous difference to productivity and employee satisfaction.,.;
Make the few meetings you have more meaningful, and you and your team will find them more productive.

How to make meetings bearable for millennials

Khomotso Molabe | Standard Bank
With South Africa’s economy in its current precarious state, careful money management and next-stage, goals-based financial planning is more important than ever if consumers are to put themselves on the path to financial stability and prosperity. Yet, just looking at our national consumer debt and saving statistics, it’s pretty clear that many SA adults know little about this subject.
“To help the next generation avoid the mistakes of their elders, and to live financially fit lives, they need to be taught the essentials about money,” says Beth Kobliner, author of Get a Financial Life, and a member of the US President’s Advisory Council on Financial Capability who spearheaded the creation of Money as You Grow, an initiative that offers age-appropriate money lessons for children.
It’s no secret that those who are wise with their money early on grow up to be more financially savvy and able to craft their individual successes from an early age. Khomotso Molabe, Head of Digital Banking and eCommerce at Standard Bank shows you how you can teach your children to save in ways that are inclusive, simple and fun &#8211; enabling them to make their next goal or dream a reality:
<ol>
<li> Give your children an allowance</li>
</ol>
According to experts, the best way to teach your children the value of money is to give them a little of their own to manage. “Just how much is a personal matter, as no two families are the same, each with their own individual circumstances to consider. Therefore a standard approach cannot be taken. However, the aim is to make it a regular amount, given at regular times, so your children learn to plan their spending on an ongoing basis,” advises Mr Molabe. “The fact that they now manage their own money should make them more careful about spending it, and creating a healthy respect for the value of money.”
<ol start="2">
<li> Turn shopping into a learning exercise</li>
</ol>
Author Beth Kobliner says that it’s important to explain to your children that money is finite, so they need to make wise choices, because once they’ve spent the money they have, they won’t have more to spend. To really drive this point home, she suggests the following while shopping with your children:
<ul>
<li>Include your children in financial decisions: For example, tell them that you are choosing the generic, unbranded pasta because it costs R2 less and it still tastes the same.</li>
<li>Talk aloud about your financial thinking: Say things such as, “Do we really need this, can we borrow it, would it cost less somewhere else?” etc.</li>
</ul>
<ol start="3">
<li> Needs versus wants</li>
</ol>
Parents should explain the difference between needs and wants to their children from an early age to help them make good spending choices in whatever they next hope to accomplish. “Teach your children that needs are things that your family must save and pay for, because you can’t do without them, like groceries, school fees and uniforms, and petrol,” Mr Molabe says. “Wants are things such as satellite TV, and the latest toys or electronics; these things are nice to have, but you can survive without them.”
“It is important to instil a sense of responsibility in your children, by teaching them that spending impulsively can have a knock-effect on their savings goals, i.e. spending money on the latest toy now, might take away from a bicycle, or similar, they have been savings for, for months”.
<ol start="4">
<li> The family’s budget is a family affair</li>
</ol>
It’s well-known that children’s attitudes to money are shaped by the way their parents talk about it and treat valuable items. “That’s why it’s important that every member of the family is involved in planning the family budget and take decisions together,” says Mr Molabe. “Parents should show responsible, careful leadership in planning the monthly family spend, but each member should have the chance to express their opinions and needs.”
<ol start="5">
<li> Make it fun, easy, personalised &#8211; and digital</li>
</ol>
Once you’ve decided to give your children an allowance, it is important to make finances fun and not a chore, so that it becomes a natural part of who they are. In this way they will enjoy saving and watching their money grow, and feel a sense of achievement when they gain savings.
There are many digital tools and apps that can assist parents with this, such as the Standard Bank’s Kidz Banking app. The app is the ideal additional tool to help teach children the value of money in a colourful, interactive and fun way.
“While still keeping financial control firmly in parent’s hands, the Standard Bank Kidz Banking app is a good way to pay your children their pocket money,” explains Mr Molabe. “It can be personalised to suit every family and children between 6-12 years of age. As savings are spent, debits are noted and the balance in the account is recorded, teaching the fundamental skill of money management to your children, who can access this information at any time.”
Taking the lesson further, parents can teach children to earn money by paying money into the app when allocated chores, such as cleaning their bedrooms, are completed.
“Think of it as tool for teaching your children the basics of finance while encouraging them in a way that will teach them early participation in the financial world. This will enable them to prepare for a stable financial future that will empower their journey into their next, no matter the state of the economy or size of their aspirations,” says Mr Molabe.
“When they see their money start to grow, their excitement will keep them on the path of financial security – a path that will lead them to achieving whatever their next dream, goal or ambition is.”

Teach your child to be financially fit

Residents of Kailer village normally live to the rhythm of mooing cows and bleating goats. But over the past year, silence has reigned over these swathes of dry land dotted with cacti and mathenge, a dense shrub.
Faced with severe drought, herders and their animals have had to travel further than normal to find water or grazing &#8211; and to escape worsening raids on their livestock at home, say the village&#8217;s women.
&#8220;We don&#8217;t know when they&#8217;ll return, as cattle raiders may attack them on the way,&#8221; said a worried Christine Lewatachum of Kailer, a village in the Rift Valley county of Baringo.
As climate change brings worsening drought and more erratic rainfall, competition for water and grazing is growing, stoking rivalry and theft between livestock herders.
Women and their children, left to mind some of the animals at home, also find themselves vulnerable to livestock raids &#8211; and left without an income when they happen.
But an unusual kind of livestock is helping: bees.
Since 2009, women in the village &#8211; and others like it in the region &#8211; have managed beehives as a new way of earning a living.
They use the hives to produce honey, soap, beauty creams, candles and cough syrup, among other products, and sell them to residents from neighboring villages.
While the business has been going on for some time, it is proving particularly valuable as droughts grow more frequent and severe as a result of climate change.
Even as conditions grow more uncertain, &#8220;we want to break free from poverty,&#8221; said Josephine Lemangi, one resident.
Solomon Kerieny, an animal production officer at the Ministry of Agriculture, said that a longer dry season and erratic rainfall have severely affected earnings from livestock, making families more vulnerable.
&#8220;When houses lose livestock, they lose their livelihood,&#8221; he said. &#8220;Women need to embrace alternative sources of income like beekeeping so they can withstand weather shocks like these.&#8221;
<h3 data-reactid="42">Foiling Cattle Raiders</h3>
For women in Baringo county, cattle raids and violence are a fact of life. In 2009, Faith Lekimosong, a member of the women&#8217;s group, was forced to leave her village of Kiserian without her livestock &#8211; 80 goats and 18 cows – after eight raiders attacked her home.
&#8220;After that I would hear gunshots ringing in my head for a long time,&#8221; she recalled, having found refuge in a nearby village.
&#8220;It is a nightmare to live in a place where you have no idea if your animals will be there tomorrow,&#8221; she added.
The women&#8217;s group, which Lewatachum co-founded in 2000, initially specialized in buying and raising dairy goats &#8220;to stop depending on our husbands&#8217; income&#8221;.
In 2005, however, cattle raiders stole most of the women&#8217;s herd. &#8220;It was too much,&#8221; said Lewatachum. &#8220;We sold the few remaining goats and had to find a new solution.&#8221;
They decided on beekeeping. &#8220;Raiders are less interested in bees as they don&#8217;t consider them as valuable as livestock,&#8221; Lewatachum said.
The Ministry of Agriculture and various charities donated five beehives to the women in 2009, and trained them on making honey-derived products.
<h3 data-reactid="50">Income and Jobs</h3>
Every three months, the group harvests and sells about 22kg of unprocessed honey for 4,000 Kenyan shillings (about $38). Processed honey sells for three times that price.
A 100g pot of body cream goes for 200 shillings ($2), while a piece of honey soap fetches between 20 and 30 shillings ($0.20-0.30).
Other products made from honey or honeycomb are more unusual.
&#8220;The arthritis and asthma syrup as well as the snake venom antidote are particularly popular,&#8221; said Lewachtum. &#8220;Residents often get bitten by snakes lurking in shrubs when fetching water or searching for grazing spots.&#8221;
The women display their products at weddings or farm fairs, she said. When they aren&#8217;t able to meet demand, they buy honey from other beekeepers.
&#8220;In times of drought there is no nectar for bees to feed on, so we can only harvest once a year instead of three times,&#8221; said Lemangi, another group member.
The women put the profit they make into a fund from which members can take out loans with a 1 percent interest rate.
This has allowed them to expand their operation to 14 beehives and to buy a 2.25-acre piece of land in the village, where they plan to set up a honey processing plant.
&#8220;We will use it (the plant) to increase our production so we can sell products in the rest of the country and offer jobs to women and girls,&#8221; said Lewatachum, as she straightened a crumpled bee suit in a makeshift shed.
She said the initiative has provided women with not only a better income but better prospects for the future.
<div class="DPSlot_container_2dHIN DPSlot_inline_1oeo6 in-article-tag"></div>
&#8220;When the members take out loans, they know they have to pay them back and that prompts them to think about potentially setting up their own businesses or renting a portion of land to farm it,&#8221; she said.
Group members now earn an average of 26,000 shillings (about $250) per month from their various businesses, compared to next to nothing previously, as everything was stolen by raiders, she added.
<h3>Security Still an Issue</h3>
While the women are becoming more secure economically, continuing insecurity threatens their progress, experts say.
&#8220;Without physical security, the women cannot establish long-term investments, as cattle raids or counter-attacks routinely burn houses and injure residents,&#8221; said Tom Nyamache, a professor of economics at Kenya&#8217;s Turkana University College.
In February, the government deployed over 100 police reservists to the area to reinforce local authorities &#8211; but even they were attacked by the bandits, Nyamache said.
But while cattle raids continue, the beehives have so far remained intact.

Kenyan women try new livestock: bees, in spite of drought and conflict

The article below was written by Momentum SP Reid
The Vanguard reports that the <a href="https://www.imf.org/en/Publications/WEO/Issues/2017/07/07/world-economic-outlook-update-july-2017">International Monetary Fund </a>(IMF) has 
projected that Nigeria&#8217;s economy will grow at a faster pace than South 
Africa&#8217;s in 2018, see table 1. According to its World Economic Outlook, WEO, for July 
2017, the IMF said Nigeria will grow at 1.9% in 2018, while South Africa will 
only climb by 1.2%.
In 2016, the Nigerian economy contracted by 1.6%, while South Africa 
expanded by 0.3%. Projections for 2017 put South Africa&#8217;s growth at 1%, 
while Nigeria is expected to muster just 0.8%. The Bretton Woods 
institution, which held global growth projections at 3.5% in 2017 and 3.6% 
in 2018, said growth was marked down in South Africa due to elevated 
political uncertainty.
<table class="financial weo-upd" border="0" cellspacing="0" cellpadding="0">
<colgroup>
<col width="292" />
<col span="4" width="51" />
<col width="19" />
<col span="2" width="65" />
<col width="19" />
<col span="3" width="52" /></colgroup>
<thead>
<tr>
<td class="xl92" colspan="12">Table 1. Overview of the World Economic Outlook Projections</td>
</tr>
<tr>
<td class="xl95" colspan="12">(Percent change unless noted otherwise)</td>
</tr>
<tr class="weo-yr">
<td class="xl63"></td>
<td class="xl94" colspan="7">Year over Year</td>
<td class="xl63"></td>
<td class="xl63"></td>
<td class="xl63"></td>
<td class="xl63"></td>
</tr>
<tr class="weo-q">
<td class="xl64"></td>
<td class="xl64"></td>
<td class="xl64"></td>
<td class="xl65"></td>
<td class="xl65"></td>
<td class="xl64"></td>
<td class="xl90"></td>
<td class="xl90"></td>
<td class="xl64"></td>
<td class="xl66" colspan="3">Q4 over Q4 2/</td>
</tr>
<tr class="weo-thead">
<td class="xl64"></td>
<td class="xl67" colspan="2">Estimate</td>
<td class="xl93" colspan="2">Projections</td>
<td class="xl64"></td>
<td class="xl67" colspan="2">Difference from April 2017 WEO Projections 1/</td>
<td class="xl64"></td>
<td class="xl67">Estimate</td>
<td class="xl93" colspan="2">Projections</td>
</tr>
</thead>
<tbody>
<tr>
<td class="xl67"></td>
<td class="xl84">2015</td>
<td class="xl84">2016</td>
<td class="xl85">2017</td>
<td class="xl85">2018</td>
<td class="xl66"></td>
<td class="xl85">2017</td>
<td class="xl85">2018</td>
<td class="xl66"></td>
<td class="xl84">2016</td>
<td class="xl85">2017</td>
<td class="xl85">2018</td>
</tr>
<tr>
<td class="xl68">World Output</td>
<td class="xl69">3.4</td>
<td class="xl69">3.2</td>
<td class="xl70">3.5</td>
<td class="xl70">3.6</td>
<td class="xl71"></td>
<td class="xl70">0.0</td>
<td class="xl70">0.0</td>
<td class="xl71"></td>
<td class="xl69">3.2</td>
<td class="xl70">3.5</td>
<td class="xl70">3.7</td>
</tr>
<tr>
<td class="xl86">Advanced Economies</td>
<td class="xl69">2.1</td>
<td class="xl69">1.7</td>
<td class="xl70">2.0</td>
<td class="xl70">1.9</td>
<td class="xl71"></td>
<td class="xl70">0.0</td>
<td class="xl70">–0.1</td>
<td class="xl71"></td>
<td class="xl69">2.0</td>
<td class="xl70">1.9</td>
<td class="xl70">1.9</td>
</tr>
<tr>
<td class="xl74">United States</td>
<td class="xl72">2.6</td>
<td class="xl72">1.6</td>
<td class="xl73">2.1</td>
<td class="xl73">2.1</td>
<td class="xl71"></td>
<td class="xl73">–0.2</td>
<td class="xl73">–0.4</td>
<td class="xl71"></td>
<td class="xl72">2.0</td>
<td class="xl73">2.0</td>
<td class="xl73">2.3</td>
</tr>
<tr>
<td class="xl74">Euro Area</td>
<td class="xl72">2.0</td>
<td class="xl72">1.8</td>
<td class="xl73">1.9</td>
<td class="xl73">1.7</td>
<td class="xl71"></td>
<td class="xl73">0.2</td>
<td class="xl73">0.1</td>
<td class="xl71"></td>
<td class="xl72">1.8</td>
<td class="xl73">1.9</td>
<td class="xl73">1.7</td>
</tr>
<tr>
<td class="xl87">Germany</td>
<td class="xl72">1.5</td>
<td class="xl72">1.8</td>
<td class="xl73">1.8</td>
<td class="xl73">1.6</td>
<td class="xl71"></td>
<td class="xl73">0.2</td>
<td class="xl73">0.1</td>
<td class="xl71"></td>
<td class="xl72">1.8</td>
<td class="xl73">1.9</td>
<td class="xl73">1.5</td>
</tr>
<tr>
<td class="xl87">France</td>
<td class="xl72">1.1</td>
<td class="xl72">1.2</td>
<td class="xl73">1.5</td>
<td class="xl73">1.7</td>
<td class="xl71"></td>
<td class="xl73">0.1</td>
<td class="xl73">0.1</td>
<td class="xl71"></td>
<td class="xl72">1.2</td>
<td class="xl73">1.7</td>
<td class="xl73">1.5</td>
</tr>
<tr>
<td class="xl87">Italy</td>
<td class="xl72">0.8</td>
<td class="xl72">0.9</td>
<td class="xl73">1.3</td>
<td class="xl73">1.0</td>
<td class="xl71"></td>
<td class="xl73">0.5</td>
<td class="xl73">0.2</td>
<td class="xl71"></td>
<td class="xl72">1.1</td>
<td class="xl73">1.1</td>
<td class="xl73">1.0</td>
</tr>
<tr>
<td class="xl87">Spain</td>
<td class="xl72">3.2</td>
<td class="xl72">3.2</td>
<td class="xl73">3.1</td>
<td class="xl73">2.4</td>
<td class="xl71"></td>
<td class="xl73">0.5</td>
<td class="xl73">0.3</td>
<td class="xl71"></td>
<td class="xl72">3.0</td>
<td class="xl73">3.0</td>
<td class="xl73">2.1</td>
</tr>
<tr>
<td class="xl74">Japan</td>
<td class="xl72">1.1</td>
<td class="xl72">1.0</td>
<td class="xl73">1.3</td>
<td class="xl73">0.6</td>
<td class="xl71"></td>
<td class="xl73">0.1</td>
<td class="xl73">0.0</td>
<td class="xl71"></td>
<td class="xl72">1.6</td>
<td class="xl73">1.2</td>
<td class="xl73">0.5</td>
</tr>
<tr>
<td class="xl74">United Kingdom</td>
<td class="xl72">2.2</td>
<td class="xl72">1.8</td>
<td class="xl73">1.7</td>
<td class="xl73">1.5</td>
<td class="xl71"></td>
<td class="xl73">–0.3</td>
<td class="xl73">0.0</td>
<td class="xl71"></td>
<td class="xl72">1.9</td>
<td class="xl73">1.4</td>
<td class="xl73">1.4</td>
</tr>
<tr>
<td class="xl74">Canada</td>
<td class="xl72">0.9</td>
<td class="xl72">1.5</td>
<td class="xl73">2.5</td>
<td class="xl73">1.9</td>
<td class="xl71"></td>
<td class="xl73">0.6</td>
<td class="xl73">–0.1</td>
<td class="xl71"></td>
<td class="xl72">2.0</td>
<td class="xl73">2.3</td>
<td class="xl73">2.0</td>
</tr>
<tr>
<td class="xl74">Other Advanced Economies 3/</td>
<td class="xl72">2.0</td>
<td class="xl72">2.2</td>
<td class="xl73">2.3</td>
<td class="xl73">2.4</td>
<td class="xl71"></td>
<td class="xl73">0.0</td>
<td class="xl73">0.0</td>
<td class="xl71"></td>
<td class="xl72">2.5</td>
<td class="xl73">2.1</td>
<td class="xl73">2.7</td>
</tr>
<tr>
<td class="xl86">Emerging Market and Developing Economies</td>
<td class="xl69">4.3</td>
<td class="xl69">4.3</td>
<td class="xl70">4.6</td>
<td class="xl70">4.8</td>
<td class="xl71"></td>
<td class="xl70">0.1</td>
<td class="xl70">0.0</td>
<td class="xl71"></td>
<td class="xl69">4.2</td>
<td class="xl70">4.9</td>
<td class="xl70">5.2</td>
</tr>
<tr>
<td class="xl74">Commonwealth of Independent States</td>
<td class="xl72">–2.2</td>
<td class="xl72">0.4</td>
<td class="xl73">1.7</td>
<td class="xl73">2.1</td>
<td class="xl71"></td>
<td class="xl73">0.0</td>
<td class="xl73">0.0</td>
<td class="xl71"></td>
<td class="xl72">0.6</td>
<td class="xl73">1.5</td>
<td class="xl73">2.0</td>
</tr>
<tr>
<td class="xl87">Russia</td>
<td class="xl72">–2.8</td>
<td class="xl72">–0.2</td>
<td class="xl73">1.4</td>
<td class="xl73">1.4</td>
<td class="xl71"></td>
<td class="xl73">0.0</td>
<td class="xl73">0.0</td>
<td class="xl71"></td>
<td class="xl72">0.3</td>
<td class="xl73">1.5</td>
<td class="xl73">1.8</td>
</tr>
<tr>
<td class="xl87">Excluding Russia</td>
<td class="xl72">–0.5</td>
<td class="xl72">1.8</td>
<td class="xl73">2.5</td>
<td class="xl73">3.5</td>
<td class="xl71"></td>
<td class="xl73">0.0</td>
<td class="xl73">0.0</td>
<td class="xl71"></td>
<td class="xl72">. . .</td>
<td class="xl73">. . .</td>
<td class="xl73">. . .</td>
</tr>
<tr>
<td class="xl74">Emerging and Developing Asia</td>
<td class="xl72">6.8</td>
<td class="xl72">6.4</td>
<td class="xl73">6.5</td>
<td class="xl73">6.5</td>
<td class="xl71"></td>
<td class="xl73">0.1</td>
<td class="xl73">0.1</td>
<td class="xl71"></td>
<td class="xl72">6.3</td>
<td class="xl73">6.6</td>
<td class="xl73">6.5</td>
</tr>
<tr>
<td class="xl87">China</td>
<td class="xl72">6.9</td>
<td class="xl72">6.7</td>
<td class="xl73">6.7</td>
<td class="xl73">6.4</td>
<td class="xl71"></td>
<td class="xl73">0.1</td>
<td class="xl73">0.2</td>
<td class="xl71"></td>
<td class="xl72">6.8</td>
<td class="xl73">6.4</td>
<td class="xl73">6.4</td>
</tr>
<tr>
<td class="xl87">India 4/</td>
<td class="xl72">8.0</td>
<td class="xl72">7.1</td>
<td class="xl73">7.2</td>
<td class="xl73">7.7</td>
<td class="xl71"></td>
<td class="xl73">0.0</td>
<td class="xl73">0.0</td>
<td class="xl71"></td>
<td class="xl72">6.0</td>
<td class="xl73">8.0</td>
<td class="xl73">7.6</td>
</tr>
<tr>
<td class="xl87">ASEAN-5 5/</td>
<td class="xl72">4.9</td>
<td class="xl72">4.9</td>
<td class="xl73">5.1</td>
<td class="xl73">5.2</td>
<td class="xl71"></td>
<td class="xl73">0.1</td>
<td class="xl73">0.0</td>
<td class="xl71"></td>
<td class="xl72">4.8</td>
<td class="xl73">5.2</td>
<td class="xl73">5.2</td>
</tr>
<tr>
<td class="xl74">Emerging and Developing Europe</td>
<td class="xl72">4.7</td>
<td class="xl72">3.0</td>
<td class="xl73">3.5</td>
<td class="xl73">3.2</td>
<td class="xl71"></td>
<td class="xl73">0.5</td>
<td class="xl73">–0.1</td>
<td class="xl71"></td>
<td class="xl72">3.3</td>
<td class="xl73">2.0</td>
<td class="xl73">4.2</td>
</tr>
<tr>
<td class="xl74">Latin America and the Caribbean</td>
<td class="xl72">0.1</td>
<td class="xl72">–1.0</td>
<td class="xl73">1.0</td>
<td class="xl73">1.9</td>
<td class="xl71"></td>
<td class="xl73">–0.1</td>
<td class="xl73">–0.1</td>
<td class="xl71"></td>
<td class="xl72">–1.3</td>
<td class="xl73">1.6</td>
<td class="xl73">2.1</td>
</tr>
<tr>
<td class="xl87">Brazil</td>
<td class="xl72">–3.8</td>
<td class="xl72">–3.6</td>
<td class="xl73">0.3</td>
<td class="xl73">1.3</td>
<td class="xl71"></td>
<td class="xl73">0.1</td>
<td class="xl73">–0.4</td>
<td class="xl71"></td>
<td class="xl72">–2.5</td>
<td class="xl73">1.5</td>
<td class="xl73">1.7</td>
</tr>
<tr>
<td class="xl87">Mexico</td>
<td class="xl72">2.6</td>
<td class="xl72">2.3</td>
<td class="xl73">1.9</td>
<td class="xl73">2.0</td>
<td class="xl71"></td>
<td class="xl73">0.2</td>
<td class="xl73">0.0</td>
<td class="xl71"></td>
<td class="xl72">2.3</td>
<td class="xl73">0.9</td>
<td class="xl73">3.2</td>
</tr>
<tr>
<td class="xl74">Middle East, North Africa, Afghanistan, and Pakistan</td>
<td class="xl72">2.7</td>
<td class="xl72">5.0</td>
<td class="xl73">2.6</td>
<td class="xl73">3.3</td>
<td class="xl71"></td>
<td class="xl73">0.0</td>
<td class="xl73">–0.1</td>
<td class="xl71"></td>
<td class="xl72">. . .</td>
<td class="xl73">. . .</td>
<td class="xl73">. . .</td>
</tr>
<tr>
<td class="xl87">Saudi Arabia</td>
<td class="xl72">4.1</td>
<td class="xl72">1.7</td>
<td class="xl73">0.1</td>
<td class="xl73">1.1</td>
<td class="xl71"></td>
<td class="xl73">–0.3</td>
<td class="xl73">–0.2</td>
<td class="xl71"></td>
<td class="xl72">2.2</td>
<td class="xl73">0.6</td>
<td class="xl73">1.4</td>
</tr>
<tr>
<td class="xl74">Sub-Saharan Africa</td>
<td class="xl72">3.4</td>
<td class="xl72">1.3</td>
<td class="xl73">2.7</td>
<td class="xl73">3.5</td>
<td class="xl71"></td>
<td class="xl73">0.1</td>
<td class="xl73">0.0</td>
<td class="xl71"></td>
<td class="xl72">. . .</td>
<td class="xl73">. . .</td>
<td class="xl73">. . .</td>
</tr>
<tr>
<td class="xl87">Nigeria</td>
<td class="xl72">2.7</td>
<td class="xl72">–1.6</td>
<td class="xl73">0.8</td>
<td class="xl73">1.9</td>
<td class="xl71"></td>
<td class="xl73">0.0</td>
<td class="xl73">0.0</td>
<td class="xl71"></td>
<td class="xl72">. . .</td>
<td class="xl73">. . .</td>
<td class="xl73">. . .</td>
</tr>
<tr>
<td class="xl87">South Africa</td>
<td class="xl72">1.3</td>
<td class="xl72">0.3</td>
<td class="xl73">1.0</td>
<td class="xl73">1.2</td>
<td class="xl71"></td>
<td class="xl73">0.2</td>
<td class="xl73">–0.4</td>
<td class="xl71"></td>
<td class="xl72">0.4</td>
<td class="xl73">1.3</td>
<td class="xl73">1.1</td>
</tr>
<tr>
<td class="xl88">Memorandum</td>
<td class="xl72"></td>
<td class="xl72"></td>
<td class="xl73"></td>
<td class="xl73"></td>
<td class="xl71"></td>
<td class="xl73"></td>
<td class="xl73"></td>
<td class="xl71"></td>
<td class="xl72"></td>
<td class="xl73"></td>
<td class="xl73"></td>
</tr>
<tr>
<td class="xl74">Low-Income Developing Countries</td>
<td class="xl72">4.6</td>
<td class="xl72">3.6</td>
<td class="xl73">4.6</td>
<td class="xl73">5.2</td>
<td class="xl71"></td>
<td class="xl73">–0.1</td>
<td class="xl73">–0.1</td>
<td class="xl71"></td>
<td class="xl72">. . .</td>
<td class="xl73">. . .</td>
<td class="xl73">. . .</td>
</tr>
<tr>
<td class="xl74">World Growth Based on Market Exchange Rates</td>
<td class="xl72">2.7</td>
<td class="xl72">2.5</td>
<td class="xl73">2.9</td>
<td class="xl73">3.0</td>
<td class="xl71"></td>
<td class="xl73">0.0</td>
<td class="xl73">0.0</td>
<td class="xl71"></td>
<td class="xl72">2.6</td>
<td class="xl73">2.8</td>
<td class="xl73">3.0</td>
</tr>
<tr>
<td class="xl75">World Trade Volume (goods and services) 6/</td>
<td class="xl69">2.6</td>
<td class="xl69">2.3</td>
<td class="xl70">4.0</td>
<td class="xl70">3.9</td>
<td class="xl71"></td>
<td class="xl70">0.2</td>
<td class="xl70">0.0</td>
<td class="xl71"></td>
<td class="xl69">. . .</td>
<td class="xl70">. . .</td>
<td class="xl70">. . .</td>
</tr>
<tr>
<td class="xl76">Advanced Economies</td>
<td class="xl72">4.0</td>
<td class="xl72">2.3</td>
<td class="xl73">3.9</td>
<td class="xl73">3.5</td>
<td class="xl71"></td>
<td class="xl73">0.2</td>
<td class="xl73">–0.1</td>
<td class="xl71"></td>
<td class="xl72">. . .</td>
<td class="xl73">. . .</td>
<td class="xl73">. . .</td>
</tr>
<tr>
<td class="xl76">Emerging Market and Developing Economies</td>
<td class="xl72">0.3</td>
<td class="xl72">2.2</td>
<td class="xl73">4.1</td>
<td class="xl73">4.6</td>
<td class="xl71"></td>
<td class="xl73">0.1</td>
<td class="xl73">0.3</td>
<td class="xl71"></td>
<td class="xl72">. . .</td>
<td class="xl73">. . .</td>
<td class="xl73">. . .</td>
</tr>
<tr>
<td class="xl75">Commodity Prices (U.S. dollars)</td>
<td class="xl72"></td>
<td class="xl72"></td>
<td class="xl73"></td>
<td class="xl73"></td>
<td class="xl71"></td>
<td class="xl73"></td>
<td class="xl73"></td>
<td class="xl71"></td>
<td class="xl72"></td>
<td class="xl73"></td>
<td class="xl73"></td>
</tr>
<tr>
<td class="xl76">Oil 7/</td>
<td class="xl72">–47.2</td>
<td class="xl72">–15.7</td>
<td class="xl73">21.2</td>
<td class="xl73">0.1</td>
<td class="xl71"></td>
<td class="xl73">–7.7</td>
<td class="xl73">0.4</td>
<td class="xl71"></td>
<td class="xl72">16.2</td>
<td class="xl73">6.2</td>
<td class="xl73">–0.8</td>
</tr>
<tr>
<td class="xl77">Nonfuel (average based on world commodity export weights)</td>
<td class="xl78">–17.5</td>
<td class="xl78">–1.8</td>
<td class="xl79">5.4</td>
<td class="xl79">–1.4</td>
<td class="xl80"></td>
<td class="xl79">–3.1</td>
<td class="xl79">–0.1</td>
<td class="xl80"></td>
<td class="xl78">9.9</td>
<td class="xl79">0.1</td>
<td class="xl79">0.1</td>
</tr>
<tr>
<td class="xl75">Consumer Prices</td>
<td class="xl72"></td>
<td class="xl72"></td>
<td class="xl73"></td>
<td class="xl73"></td>
<td class="xl71"></td>
<td class="xl73"></td>
<td class="xl73"></td>
<td class="xl71"></td>
<td class="xl72"></td>
<td class="xl73"></td>
<td class="xl73"></td>
</tr>
<tr>
<td class="xl76">Advanced Economies</td>
<td class="xl72">0.3</td>
<td class="xl72">0.8</td>
<td class="xl73">1.9</td>
<td class="xl73">1.8</td>
<td class="xl71"></td>
<td class="xl73">–0.1</td>
<td class="xl73">–0.1</td>
<td class="xl71"></td>
<td class="xl72">1.2</td>
<td class="xl73">1.7</td>
<td class="xl73">2.0</td>
</tr>
<tr>
<td class="xl76">Emerging Market and Developing Economies 8/</td>
<td class="xl72">4.7</td>
<td class="xl72">4.3</td>
<td class="xl73">4.5</td>
<td class="xl73">4.6</td>
<td class="xl71"></td>
<td class="xl73">–0.2</td>
<td class="xl73">0.2</td>
<td class="xl71"></td>
<td class="xl72">3.7</td>
<td class="xl73">4.0</td>
<td class="xl73">3.9</td>
</tr>
<tr>
<td class="xl75">London Interbank Offered Rate (percent)</td>
<td class="xl72"></td>
<td class="xl72"></td>
<td class="xl73"></td>
<td class="xl73"></td>
<td class="xl71"></td>
<td class="xl73"></td>
<td class="xl73"></td>
<td class="xl71"></td>
<td class="xl72"></td>
<td class="xl73"></td>
<td class="xl73"></td>
</tr>
<tr>
<td class="xl76">On U.S. Dollar Deposits (six month)</td>
<td class="xl72">0.5</td>
<td class="xl72">1.1</td>
<td class="xl73">1.6</td>
<td class="xl73">2.2</td>
<td class="xl71"></td>
<td class="xl73">–0.1</td>
<td class="xl73">–0.6</td>
<td class="xl71"></td>
<td class="xl72">. . .</td>
<td class="xl73">. . .</td>
<td class="xl73">. . .</td>
</tr>
<tr>
<td class="xl76">On Euro Deposits (three month)</td>
<td class="xl72">–0.0</td>
<td class="xl72">–0.3</td>
<td class="xl73">–0.3</td>
<td class="xl73">–0.2</td>
<td class="xl71"></td>
<td class="xl73">0.0</td>
<td class="xl73">0.0</td>
<td class="xl71"></td>
<td class="xl72">. . .</td>
<td class="xl73">. . .</td>
<td class="xl73">. . .</td>
</tr>
<tr>
<td class="xl81">On Japanese Yen Deposits (six month)</td>
<td class="xl82">0.1</td>
<td class="xl82">0.0</td>
<td class="xl83">0.0</td>
<td class="xl83">0.1</td>
<td class="xl71"></td>
<td class="xl83">0.0</td>
<td class="xl83">0.1</td>
<td class="xl71"></td>
<td class="xl72">. . .</td>
<td class="xl83">. . .</td>
<td class="xl83">. . .</td>
</tr>
<tr>
<td class="xl89" colspan="12">Source: IMF</td>
</tr>
</tbody>
</table>
&#8220;In Sub-Saharan Africa, the outlook remains challenging. Growth is 
projected to rise in 2017 and 2018, but will barely return to positive territory 
in per capita terms this year for the region as a whole&#8211;and would remain 
negative for about a third of the countries in the region,&#8221; the IMF said.
&#8220;The slight upward revision to 2017 growth relative to the April 2017 WEO 
forecast reflects a modest upgrading of growth prospects for South Africa, 
which is experiencing a bumper crop due to better rainfall and an increase in 
mining output prompted by a moderate rebound in commodity prices. 
However, the outlook for South Africa remains difficult, with elevated political 
uncertainty and weak consumer and business confidence, and the country&#8217;s 
growth forecast was consequently marked down for 2018.&#8221;
The IMF also added that global growth will be aided by growth in the US and 
the UK, who are projected to grow at 2.1% and 1.5%, respectively. 
&#8220;China&#8217;s growth projections have also been revised up (6.7%), reflecting a 
strong first quarter of 2017 and expectations of continued fiscal support. 
Inflation in advanced economies remains subdued and generally below 
targets; it has also been declining in several emerging economies, such as 
Brazil, India, and Russia.&#8221;
The IMF mentioned the risks threatening the strength and durability of the 
recovery such as election related risk, political uncertainty, failure to lift 
potential growth and make growth more inclusive and rising geopolitical 
tensions, among others. With the help of resilient global growth, we believe 
that both Nigeria and South Africa have the potential to grow above the 
forecast, assuming that appropriate policies are implemented to lessen 
some of the risks mentioned above.

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