<h2 class="wp-block-heading" id="h-topline"><a href="https://policies.google.com/privacy" target="_blank" rel="noreferrer noopener"></a>TOPLINE</h2>



Global carbon emissions reached another record high in 2023—even after both the U.S. and E.U. cut fossil fuel emissions, according to a recently published study.



<h2 class="wp-block-heading" id="h-key-facts">KEY FACTS</h2>



This year’s global carbon emissions from fossil fuels are projected to total 36.8 billion tonnes—a 1.1% rise from 2022, according to a study published by&nbsp;<a href="https://globalcarbonbudget.org/" target="_blank" rel="noreferrer noopener">Global Carbon Budget</a>.



The report, compiled by an international team of climate researchers from more than 90 universities, determined that time is “running out fast” to avoid the worst impacts from climate change.



The global rise comes even after a sizable reduction in emissions from the European Union and the United States, decreasing by 7.4% and 3% respectively.



However, emissions from India are projected to increase by 8.2%, and emissions from China are expected to rise by 4%.



<h2 class="wp-block-heading" id="h-key-background">KEY BACKGROUND</h2>



According to the Global Carbon Budget, emissions have largely plateaued in the last 10 years. The world did not see a significant increase compared to 2022, which also saw emissions increase by 1%. However, experts say this stabilization will not be enough to ensure emissions breach the 1.5ºC threshold—after which the earth will experience irreversible damage from climate change. The Global Carbon Budget now estimates that there is a 50% chance the world will exceed the 1.5C threshold in just seven years.



<h2 class="wp-block-heading" id="h-crucial-quote">CRUCIAL QUOTE</h2>



Professor Corinne Le Quéré of the University of East Anglia’s School of Environmental Sciences said the annual changes are “not profound or widespread enough” to deter climate change. “All countries need to decarbonise their economies faster than they are at present to avoid the worse impacts of climate change,” Le Quéré said.



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



The study was released as the UN’s annual climate conference, COP28, takes place in the United Arab Emirates. COP28 president-delegate Sultan Al Jaber, the CEO of the UAE’s state-run oil and alternative energy companies, has faced steep criticism since the conference began. Last week, <a href="https://www.forbes.com/sites/zacharyfolk/2023/12/01/cop28-advisory-board-member-resigns-over-reports-uae-used-climate-talks-to-push-fossil-fuels/?sh=480addf4a37e">leaked memos</a> appeared to show Al Jaber was using the conference to pursue more oil and natural gas deals. On Sunday, comments Al Jaber made at a SHE Changes Climate summit on November 21 attracted further criticism. “There is no science out there, or no scenario out there, that says that the phase-out of fossil fuel is what’s going to achieve 1.5C,” Al Jaber said, in remarks first reported on by the <a href="https://www.theguardian.com/environment/2023/dec/03/back-into-caves-cop28-president-dismisses-phase-out-of-fossil-fuels" target="_blank" rel="noreferrer noopener">Guardian</a>. The COP28 president’s beliefs seem to directly conflict with the UN’s stated position on meeting the threshold. “The science is clear: the 1.5-degree limit is only possible if we ultimately stop burning all fossil fuels,” UN Secretary General Antonio Guterres said in an address at COP28. “Not reduce. Not abate. Phase out.”

Reports Indicate 2016 Was Hottest Year On Record

Global Carbon Emissions Reached Another Record High In 2023, Study Suggests

<h3 class="wp-block-heading has-text-align-center" id="h-adecadeofunder30">#ADecadeofUnder30</h3>



It’s that time of the year when anticipation gives way to excitement as FORBES AFRICA prepares to welcome and honor, yet again, the next cohort of young innovators, influencers and intellectuals taking the continent by storm.



Marking 10 years of the FORBES AFRICA 30 Under 30 list, this edition will also hark back to the journey of unearthing Africa’s youngest and brightest people taking the continent to the future. The 10th annual list will highlight the potential of what is yet to come.



“It has been 10 years of showcasing tomorrow’s titans and billionaires! This list continues to draw great interest from our readers, young and old. And on a continent with the world’s youngest population, it’s more pertinent than ever to unravel these young movers and shakers who will be tomorrow’s global newsmakers,” says Renuka Methil, Managing Editor, FORBES AFRICA.



With thousands of applicants and hundreds of list-makers over the past decade, FORBES AFRICA has shone the spotlight on award-winning musicians, actors, tech trailblazers, business leaders, sports stars and social entrepreneurs, among others, who have gone on to become behemoths in their own right. The list has also evolved in the past decade to look at the new wealth creators from the world of content creation and digital media.


<div class="wp-block-image">
<figure class="aligncenter size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="1024" src="https://cms.forbesafrica.com/wp-content/uploads/2023/12/instagram-daily-2023-12-04T172738.612-1024x1024.png" alt="" class="wp-image-60428" style="width:770px;height:auto" srcset="https://cms.forbesafrica.com/wp-content/uploads/2023/12/instagram-daily-2023-12-04T172738.612-1024x1024.png 1024w, https://cms.forbesafrica.com/wp-content/uploads/2023/12/instagram-daily-2023-12-04T172738.612-300x300.png 300w, https://cms.forbesafrica.com/wp-content/uploads/2023/12/instagram-daily-2023-12-04T172738.612-150x150.png 150w, https://cms.forbesafrica.com/wp-content/uploads/2023/12/instagram-daily-2023-12-04T172738.612-768x768.png 768w, https://cms.forbesafrica.com/wp-content/uploads/2023/12/instagram-daily-2023-12-04T172738.612.png 1080w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure></div>


From names like Tems, Thuso Mbedu, Sho Madjozi and Burna Boy or influencers like Kay Yarms, Mihlali Ndamase and Elsa Majimbo, and let’s not forget business pioneers such as Shamim Nabuuma Kaliisa or Charlot Magayi, it has been a journey of listing stellar achievements. &nbsp;



Now is the time to invite the next 30 visionaries, risk-takers, change-makers and pioneers from Africa to take their place in the class of 2024. This is a list that promises to be our biggest and best yet as we foray our way into the next decade.



Our rigorous nominations process will require extensive paperwork including police clearance certificates (PCC) or a report from your country verifying that you have no criminal record, no ongoing or upcoming court cases and that you are a citizen of that country. The FORBES AFRICA 30 Under 30 team of curators will also need a recommendation/reference letter from a financial institution (like your bank), ensuring that you are a legitimate business/brand employing funds responsibly. We recommend that you contact your financial institution or advisor to prepare for this part of the process as well as apply for your PCC as it could potentially take 4-6 weeks.



Should you wish to nominate someone or yourself, please read the following.



<h3 class="wp-block-heading" id="h-the-judging-process-will-take-place-in-four-stages">The judging process will take place in four stages:</h3>



<ul>
<li>The first stage will be the evaluation of your motivation. If you do not hear back from us (within a specific period), please deem your nomination as unsuccessful.</li>



<li>The second stage will require potential candidates to submit further documentation for the next stage of assessment.</li>



<li>The third stage will include an analysis of your financials, revenue model and credibility as in-depth research will be conducted into who you are and your company/team (no criminal records, troubling lawsuits/bankruptcies, allegations of crime, bad behavior, sexual harassment/abuse cases or fraud).</li>



<li>The final stage will have an expert panel of judges assess the strong candidates, whittling them down to the final 30. The editorial and research team makes the final selection based on judges’ scoring/remarks and adjusts for diversity across company type, gender, background, etc.</li>
</ul>



NOMINATIONS AND APPLICATION CRITERIA:&nbsp;



Please read and take careful note of the following before applying.



<h3 class="wp-block-heading has-text-align-center" id="h-business-and-technology-categories-nbsp">Business and Technology categories&nbsp;</h3>



<ol start="1" style="list-style-type:1">
<li>Must be an entrepreneur/founder aged 29 or younger as on&nbsp;31&nbsp;March 2024&nbsp;</li>



<li>Should have a legitimate&nbsp;REGISTERED&nbsp;business on the continent&nbsp;</li>



<li>Business/businesses should be two years or older&nbsp;(please ensure you have your audited financial documents for at least two years as well as your company’s registration documents; should you make the second stage, this will be required)&nbsp;</li>



<li>The more innovative the business the better&nbsp;(as it speaks to Africa’s growth story)&nbsp;</li>



<li>Have you/your company created social impact on the African continent?&nbsp;</li>



<li>The company must be profit-generating&nbsp;</li>



<li>Must employ people in Africa&nbsp;</li>



<li>All applications must be in English&nbsp;</li>
</ol>



<h3 class="wp-block-heading has-text-align-center" id="h-sports-category">Sports category</h3>



<ol start="1" style="list-style-type:1">
<li>Must be a sports person aged 29 or younger as on 31 March 2024</li>



<li>Must be representing an African team</li>



<li>Should have a proven track-record of no less than two years</li>



<li>Should be making significant earnings</li>



<li>Endorsement deals and/or awards of any kind would be a bonus</li>



<li>Entrepreneurship and social impact are a plus, especially if applying under the Business/Technology category. However, the business must oblige by the same rules as under Business/Technology</li>



<li>All applications must be in English</li>
</ol>



<h3 class="wp-block-heading has-text-align-center" id="h-creatives-category-nbsp">Creatives category&nbsp;</h3>



<ol start="1" style="list-style-type:1">
<li>Must be a creative aged 29 or younger as on 31 March 2024&nbsp;</li>



<li>Must be from or based in Africa&nbsp;</li>



<li>Should have significant earnings&nbsp;</li>



<li>Should have a proven creative record of no less than two years&nbsp;</li>



<li>Awards/recognition of any kind should be mentioned&nbsp;&nbsp;</li>



<li>Social media presence will be taken into consideration&nbsp;</li>



<li>Entrepreneurship and social impact are a plus, especially if applying under the Business/Technology category. However, the business must be legitimate, registered and also two years or older&nbsp;</li>



<li>All applications must be in English&nbsp;</li>
</ol>



<h3 class="wp-block-heading has-text-align-center" id="h-health-science-category-nbsp">Health/Science category&nbsp;</h3>



<ol start="1" style="list-style-type:1">
<li>Must be a creative aged 29 or younger as on 31 March 2024</li>



<li>Must be from or based in Africa&nbsp;</li>



<li>Should have a proven track-record in the field of health and/or science for no less than two years</li>



<li>Must have social influence and impact&nbsp;</li>



<li>If the nominee is a doctor/professor, please provide us with documentation and a reference letter from the institution where the applicant received a doctorate or Ph.D.&nbsp;&nbsp;&nbsp;</li>



<li>Entrepreneurship and social impact are a plus, especially if applying under the Business/Technology category. However, the business must be legitimate, registered, and also two years or older&nbsp;</li>



<li>All applications must be in English</li>
</ol>


<div class="wp-block-image">
<figure class="aligncenter size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="1024" src="https://cms.forbesafrica.com/wp-content/uploads/2023/10/logounder30-blk4-1-1024x1024.png" alt="" class="wp-image-59683" style="width:302px;height:302px" srcset="https://cms.forbesafrica.com/wp-content/uploads/2023/10/logounder30-blk4-1-1024x1024.png 1024w, https://cms.forbesafrica.com/wp-content/uploads/2023/10/logounder30-blk4-1-300x300.png 300w, https://cms.forbesafrica.com/wp-content/uploads/2023/10/logounder30-blk4-1-150x150.png 150w, https://cms.forbesafrica.com/wp-content/uploads/2023/10/logounder30-blk4-1-768x768.png 768w, https://cms.forbesafrica.com/wp-content/uploads/2023/10/logounder30-blk4-1-1536x1536.png 1536w, https://cms.forbesafrica.com/wp-content/uploads/2023/10/logounder30-blk4-1-2048x2048.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure></div>


<a href="https://form.typeform.com/to/n0RuVTFD">Please apply here </a>



<div data-tf-widget="n0RuVTFD" data-tf-opacity="100" data-tf-iframe-props="title=30 Under 30" data-tf-transitive-search-params data-tf-medium="snippet" style="width:100%;height:500px;"></div><script src="//embed.typeform.com/next/embed.js"></script>

under2023_4 (1)

Call For Nominations To FORBES AFRICA’s 10th Milestone 30 Under 30 List: The Class Of 2024

Finance is a crucial change agent in society, government, and technology.



The introduction of artificial intelligence (AI) is fundamentally altering the financial world. AI is a form of technology that confers intelligence on machines. In my 2013 book, Economic Modeling Using Artificial Intelligence Methods, I demonstrated how



AI could forecast economic indicators, predict stock prices in stock exchanges, perform credit scoring in banks, and model complex financial instruments such as options, futures, and derivatives. In our 2017 book, Artificial Intelligence and Economic Theory, Evan Hurwitz and I demonstrate how AI affects how economists think about demand and supply, pricing, and behavioral economics. Utilizing AI’s capabilities, the financial sector is on the verge of massive disruptive changes that present new opportunities and risks. This article examines how AI affects economic systems, specifically the financial sector, markets, and the government.



Using machine learning, predictive analytics, and natural language processing, AI has the potential to revolutionize the way institutions operate. Additionally, AI opens up new avenues for customer service, risk management, and business advice.



For example, AI-powered chatbots and virtual helpers help with customer service around the clock, simplifying user interfaces and making it easier to answer questions quickly.



Consequently, they enhance consumer experience and reduce expenses. For instance, in risk management and credit scoring, AI algorithms can examine enormous amounts of data to identify patterns and assess risk levels. This makes financial services available to a larger population.



In the investment world, robo-advisors have become popular. They use AI’s analytical capabilities to offer cheap, personalized financial advice. Through these changes, AI is making it easier for more people to use financial services and driving the global financial system to be more open to more people.



AI is also changing the way financial markets work. For example, AI has changed how stocks are bought and sold with high-frequency algorithmic trading. AI can analyze vast financial data in milliseconds to identify trends and make trades. This is a substantial improvement over traditional methods making markets move faster, more open and work better. However, increased market speed ushers market stability and systemic risks, requiring protection and strong oversight to avoid these problems.



Regulators worldwide seek to deal with AI’s problems, such as data protection and algorithmic transparency. Accordingly, there should be a balance between encouraging innovation and protecting the financial security and consumer interests in regulations. AI can simplify compliance procedures, monitor



financial transactions in real-time for illicit activities, and predict market glitches, making regulators more proactive.



In the African market, the African Continental Free Trade Area (AfCFTA), a trade deal that aims to increase trade significantly within Africa, offers unique opportunities for AI.



The agreement covers a broad range of aspects of Africa’s economy, such as digital trade and the protection of investments. Moreover, the number of countries in the AfCFTA will make it the largest free trade area globally, linking 1.3 billion people in 54 countries with a combined GDP of $3.4 trillion. AI can make the AfCFTA work better and reach its goals.



For example, AI can help improve trade logistics by making delivery systems, customs processes, and tracking and tracing more efficient. It can find the best ways to move goods, predict delays, and give traders real-time information. In addition, AI can analyze trade data to identify patterns, trends, and connections. This can help policymakers make better choices and predict and respond to future trends better.



AI-powered systems can make cross-border e-commerce more efficient, a sector expected to grow under the AfCFTA. AI can create personalized product recommendations and automate customer service. In education and training, AI can help people acquire the skills they need for an African economy that works better together.



However, for AI to achieve the goals of the AfCFTA, it is essential to have good AI governance and regulation. Furthermore, we need to invest in digital infrastructure and education.



In conclusion, AI is vital to changing how the world’s economic system works. It affects financial services, markets, and regulation. AI is ushering in a new age of innovation and efficiency.



However, as AI continues to change how the financial world works, a cautious and thorough approach is needed to make the most of its prospects and manage its risks well. There needs to be strong regulatory frameworks, investments in AI literacy and skills, and a commitment to ethical AI values. These objectives are essential if we want an AI-driven financial future that is both prosperous and sustainable in Africa.

Manager engineer control Innovation of robotics  automation robot ai Business data analytics process management

How Artificial Intelligence Affects The Financial Sector In Africa

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



An uptick of mycoplasma pneumonia cases in children has caused outbreaks in Ohio, Massachusetts, China and Denmark, though officials say they aren’t connected or linked to a “new or novel” virus.



<h2 class="wp-block-heading" id="h-key-facts">KEY FACTS</h2>



The illness is caused by a bacteria called “mycoplasma pneumoniae,”&nbsp;and results in typically mild respiratory infections, though the illness can progress into a serious lung infection that calls for hospitalization,&nbsp;<a href="https://www.cdc.gov/pneumonia/atypical/mycoplasma/index.html" target="_blank" rel="noreferrer noopener">according</a>&nbsp;to the Centers for Disease Control and Prevention.



Mycoplasma pneumonia is sometimes dubbed “<a href="https://www.vinmec.com/en/news/health-news/general-health-check/what-does-a-white-chest-x-ray-indicate/#:~:text=A%20white%20lung%20or%20white,be%20detected%20and%20treated%20promptly." target="_blank" rel="noreferrer noopener">white lung pneumonia</a>” due to white patches caused by the disease that present on the lungs during X-rays.



The Warren County Health District in Ohio released a&nbsp;<a href="https://warrenchd.com/wp-content/uploads/2023/11/WCHD-Media-Release-Update-2.pdf" target="_blank" rel="noreferrer noopener">statement</a>&nbsp;Thursday indicating a pneumonia outbreak that began in August has affected at least 145 children between the ages of three and 14.



“Mycoplasma pneumoniae”&nbsp;was among the specimens at fault, along with “streptococcus pneumoniae” and adenovirus, which all cause pneumonia and other respiratory illnesses, the WCHD indicated in a separate&nbsp;<a href="https://warrenchd.com/wp-content/uploads/2023/11/WCHD-media-release-pneumonia-112923-004-1.pdf" target="_blank" rel="noreferrer noopener">statement</a>&nbsp;released Wednesday.



The WCHD said the increase of pneumonia cases is not linked to a “new or novel” respiratory illness, but rather a spike in normal pediatric cases, and stated the outbreak isn’t related to any other outbreaks statewide, nationally or globally.



Massachusetts is also <a href="https://www.westernmassnews.com/2023/11/29/doctors-seeing-increase-walking-pneumonia-rsv-cases-kids/" target="_blank" rel="noreferrer noopener">reporting</a> an outbreak of pediatric “<a href="https://www.lung.org/blog/what-is-walking-pneumonia#:~:text=%22Walking%20pneumonia%22%20is%20a%20non,common%20bacterium%20called%20Mycoplasma%20pneumonia." target="_blank" rel="noreferrer noopener">walking pneumonia</a>” cases—which refers to mild pneumonia infection often caused by “mycoplasma pneumoniae”—as well as an uptick in other respiratory illnesses like respiratory syncytial virus.



<h2 class="wp-block-heading" id="h-key-background">KEY BACKGROUND</h2>



Mycoplasma pneumonia has also been spreading in China and Denmark. Researchers from Denmark’s Statens Serum Institute have&nbsp;<a href="https://www.ssi.dk/aktuelt/nyheder/2023/der-er-epidemi-med-mycoplasmainfektioner-ogsaa-kendt-som-kold-lungebetaendelse" target="_blank" rel="noreferrer noopener">stated</a>&nbsp;mycoplasma pneumonia infections have reached epidemic status in the country. The spike began during the summer, but quickly increased over the past five weeks. Over 540 cases were reported last week—triple the number of cases reported in mid-October. Chinese officials reported during a health conference in November there has been an uptick in respiratory illnesses since mid-October,&nbsp;<a href="https://www.who.int/emergencies/disease-outbreak-news/item/2023-DON494" target="_blank" rel="noreferrer noopener">according</a>&nbsp;to the World Health Organization. However, they blamed this surge on the lifting of Covid restrictions and said it was linked to known illnesses, like Covid, RSV, the flu and mycoplasma pneumonia. WHO echoed China’s sentiments,&nbsp;<a href="https://www.who.int/emergencies/disease-outbreak-news/item/2023-DON494" target="_blank" rel="noreferrer noopener">saying</a>&nbsp;though the surge is early in the typical flu season, it’s not unexpected due to the removal of Covid restrictions in the country. Republican lawmakers&nbsp;<a href="https://www.forbes.com/sites/antoniopequenoiv/2023/11/30/cdc-director-says-respiratory-illnesses-in-china-not-caused-by-new-virus/?sh=61bcf670722b">grilled</a>&nbsp;CDC director Mandy Cohen on Thursday about China’s trustworthiness in reporting the surge in infections. Rep. Cathy McMorris Rodgers (R-Wash.) likened the surge and the alleged lack of information from China to “a troubling parallel to 2020,” in reference to the early days of the Covid pandemic. Cohen said the rise in cases isn’t linked to a “new or novel” virus, but instead due to respiratory illnesses like mycoplasma pneumonia, an explanation in line with China and WHO.



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



Mycoplasma infection is most common in the fall and late summer, and though anyone can get infected, it mainly affects children and younger adults,&nbsp;<a href="https://www.health.ny.gov/diseases/communicable/mycoplasma/fact_sheet.htm#:~:text=Typical%20symptoms%20include%20fever%2C%20cough,mild%20and%20rarely%20requires%20hospitalization)." target="_blank" rel="noreferrer noopener">according</a>&nbsp;to the New York State Department of Health. Usual symptoms include sore throat, sneezing, coughing, runny nose, wheezing, headache, ear infection and chest soreness, a&nbsp;<a href="https://www.ncbi.nlm.nih.gov/books/NBK430780/" target="_blank" rel="noreferrer noopener">study</a>&nbsp;published in StatPearls reports. Symptoms typically last for a few days but can stretch for more than a month, and they usually begin between two to three weeks following exposure. Though most infections are mild, they can lead to severe complications like lung abscess, respiratory failure, fluid buildup in the lungs and pus in the lungs. There are no vaccines to prevent mycoplasma infection, but it can be treated with antibiotics as it is a bacterial infection, unlike Covid and the flu.



<h2 class="wp-block-heading" id="h-further-reading">FURTHER READING</h2>



<a href="https://www.forbes.com/sites/antoniopequenoiv/2023/11/30/cdc-director-says-respiratory-illnesses-in-china-not-caused-by-new-virus/?sh=61bcf670722b">CDC Director Says Respiratory Illnesses In China Not Caused By New Virus</a>&nbsp;(Forbes)



<a href="https://www.who.int/emergencies/disease-outbreak-news/item/2023-DON494" target="_blank" rel="noreferrer noopener">Upsurge of respiratory illnesses among children-Northern China</a> (The World Health Organization)

Shot of little african-american boy  being vaccinated on her arm by a pediatrician at doctor’s office.

What Is Mycoplasma Pneumonia? Dubbed ‘Walking Pneumonia’ Or ‘White Lung Pneumonia’ And Linked To Pediatric Outbreaks In Ohio And Massachusetts

For many, the reality of raising a family is an arduous journey – and often a silent one. In recent years, there has been remarkable progress in the field of reproductive technologies. These technologies include medical procedures used primarily to address infertility. In fact, the global assisted reproductive technology market size was valued at $28.2 billion in 2021 and is expected to reach $42.5 billion by 2030, according to a research report published by Spherical Insights &amp; Consulting.



In the African context, research suggests that our constantly and rapidly changing lifestyle is fundamentally impacting fertility. Fertility has emerged as a medico- sociocultural problem. The continent also has a higher prevalence of sexually transmitted infections (STI), and postpartum and postabortion infections, which contribute to both male and female infertility.



In fact, a 2019 study conducted by Ombelet and Onofre found that infertility had a higher prevalence in low-resource countries, particularly in sub-Saharan Africa. At the time, it was estimated that more than 180 million couples were impacted by infertility in the region. As the authors concluded: “The magnitude of childlessness in African countries has dimensions beyond its prevalence.” At its core, infertility is a human rights issue that demands attention.



In the 21st century, what are the ethical implications of reframing our creation of humans? As we venture into our own ‘brave new world’, we must do so with a framework in place. We find ourselves in the midst of the fourth industrial revolution (4IR), defined by great disruption to technology, industries, and society, which calls for changes to policy and our approaches.



There are two broad factors to consider in this shift: how do we safeguard core legal values – such as equal treatment under the law, procedural fairness, and due process and adequate access to justice for all, for instance – and how do we adapt to these broad societal changes? There are also key concerns in our own context. Infertility in Africa is impacted by epidemiological barriers as there is a lack of data informing the burden of infertility, the need for reproductive technologies and even access. Moreover, inequalities are starkly presented in conversations around access both from a geographical standpoint and a financial perspective.



Ombelet and Onofre’s study found that “more than 98% of the continent cannot afford In Vitro Fertilization (IVF) because it is either too expensive or because of a lack of IVF centers”.



In 2018, Botha et al. found that ‘inaccess’ was driven by the confluence of widespread poverty, inadequate government or insurance support, insufficient resource allocation for capacity building, and the absence of facilities. There are also challenges in the cultural, religious, and societal perception of both infertility and its treatment, which are pervasive in many parts of Africa. In some cases, this is largely the impact of limited knowledge of the public, patients, and even healthcare providers. This is coupled with restrictive health policies, which have to be challenged.



What is required is a comprehensive and culturally sensitive approach that takes into account the socioeconomic context.



Some solutions include raising awareness and education about available treatments and the benefits and risks; addressing cultural and religious beliefs around the technology and encouraging open dialogue; making artificial reproductive technologies more affordable on the continent through reducing 



costs; comprehensive healthcare coverage and public-private partnerships; and increasing research capabilities and data collection in this field to allow for infrastructure development.



Additionally, as other technologies of the 4IR have demonstrated, we need sound ethical frameworks. This will be the basis for our approach to regulation. This will require the legal fraternity to keep up with developments in the space and respond accordingly. While there are broad ethical frameworks in place, it is imperative that we get more specific as these technologies shift from theory to practice. Researchers Pepper and Slabbert state: “Legislation in its broadest sense should be seen as a permanent work- in-progress requiring ongoing review.” 



This is how we continue to break barriers and explore the unknown ethically. Legislation is largely reactive. In the 4IR, however, there is an increasing argument for a proactive approach.



What is apparent is that as these technologies increasingly emerge, society needs to respond accordingly. If we have any hope of ensuring greater access and acceptance, then we must ensure that we are adapting to this shifting context. As the biologist and author of Daedalus, JBS Haldane, once poignantly wrote, “We can foretell little of the future save that the thing that has not been is the thing that shall be.”

doctor analysing cell samples in a clinical fertility laboratory

The Ethics And Legality Of Artificial Reproductive Technology In An African Context

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



Hours after Elon Musk told companies to &#8220;go f***&#8221; themselves for pulling their advertisements from X over concerns about antisemitism—and called out Disney CEO Bob Iger by name—a group of right-wing users on the social media platform have called for Disney+ subscribers to cancel their accounts.



<h2 class="wp-block-heading" id="h-key-facts">KEY FACTS</h2>



<a href="https://twitter.com/CollinRugg/status/1730227884957040938" target="_blank" rel="noreferrer noopener">Multiple</a>&nbsp;<a href="https://twitter.com/realmichaelseif/status/1730275154805068020" target="_blank" rel="noreferrer noopener">right-wing</a>&nbsp;<a href="https://twitter.com/ChayaRaichik10/status/1730296643872792752" target="_blank" rel="noreferrer noopener">accounts</a>&nbsp;on X, the platform formerly known as Twitter, called on subscribers to Disney’s streaming service Disney+ to cancel their subscriptions, with the X account End Wokeness&nbsp;<a href="https://twitter.com/EndWokeness/status/1730218208324395011" target="_blank" rel="noreferrer noopener">posting</a>&nbsp;instructions for cancellation with the caption: “Stop giving money to people that hate you.”



Those calls follow Disney’s decision earlier this month to&nbsp;<a href="https://www.forbes.com/sites/brianbushard/2023/11/17/apple-and-disney-pull-x-ads-after-musks-promotion-of-antisemitic-post-joining-these-other-companies/?sh=3f0da76a34fb">suspend its advertising</a>&nbsp;on the social media platform, joining a growing list of companies including Apple, IBM, Lionsgate and Xfinity, following the release of a scathing report that found advertisements on X alongside pro-Nazi posts, and after Musk endorsed a post&nbsp;<a href="https://www.forbes.com/sites/tylerroush/2023/11/16/elon-musk-condemned-after-calling-antisemitic-post-actual-truth/?sh=7e010cc14020">widely condemned</a>&nbsp;as antisemitic.



Disney’s decision to stop running ads on X could cost the social media platform millions of dollars, while X users’ calls for a boycott of Disney+ would have to reach many of its&nbsp;<a href="https://www.forbes.com/sites/tonifitzgerald/2023/08/09/new-record-for-disney-sheds-117-million-subscribers-password-crackdown-coming/?sh=5fe4d2b51d7b">146 million</a>&nbsp;subscribers (as of August) to have an equivalent effect.



Speaking at the New York Times’ DealBook Summit on Wednesday, Musk&nbsp;<a href="https://www.forbes.com/sites/antoniopequenoiv/2023/11/29/elon-musk-says-advertisers-that-have-left-x-shouldnt-come-back/?sh=1f7dc21b10c0">accused advertisers</a>&nbsp;that left the platform of “blackmailing” him with money and crudely told them to “go f**k themselves,” while addressing Iger in the crowd, saying, “hi Bob.”



Iger, also speaking at the summit,&nbsp;<a href="https://www.youtube.com/watch?v=8pSxx1e5n34" target="_blank" rel="noreferrer noopener">said</a>&nbsp;he has “a lot of respect for Elon and what he’s accomplished,” but took exception with Musk’s endorsement of the post on X, saying: “By him taking the position that he took in quite a public manner, we just felt that the association with that position and Elon Musk and X was not necessarily a positive one for us.”



Forbes Daily: Get our best stories, exclusive reporting and essential analysis of the day’s news in your inbox every weekday.Sign Up



By signing up, you accept and agree to our&nbsp;<a href="https://www.forbes.com/terms-and-conditions" target="_blank" rel="noreferrer noopener">Terms of Service</a>&nbsp;(including the class action waiver and arbitration provisions), and you acknowledge our&nbsp;<a href="https://www.forbes.com/privacy" target="_blank" rel="noreferrer noopener">Privacy Statement</a>.



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



X could lose as much as $75 million in lost advertising revenue due to more than a dozen companies including Airbnb, Coca-Cola, Disney, IBM, Microsoft and Xfinity pulling out, the New York Times&nbsp;<a href="https://www.nytimes.com/2023/11/24/business/x-elon-musk-advertisers.html" target="_blank" rel="noreferrer noopener">reported</a>.



<h2 class="wp-block-heading" id="h-key-background">KEY BACKGROUND</h2>



IBM became one of the first in a string of high-profile advertisers to&nbsp;<a href="https://www.forbes.com/sites/mollybohannon/2023/11/16/ibm-suspends-advertising-on-x-after-ads-appear-near-pro-nazi-posts/?sh=17f133ce6a4d">suspend its ads</a>&nbsp;on the platform this month, after a report from left-wing watchdog Media Matters for America found advertisements for the company—as well as Apple, Oracle and Xfinity—appeared near neo-Nazi posts and posts praising Adolf Hitler. Musk suggested the watchdog went out of its way to achieve the result, claiming the finding represented a wildly different experience from that of a typical user. X Corp. later&nbsp;<a href="https://www.forbes.com/sites/tylerroush/2023/11/18/elon-musk-threatens-thermonuclear-lawsuit-against-group-reporting-antisemitic-x-posts-appearing-near-ads/?sh=27c854462b13">filed a defamation lawsuit</a>&nbsp;against Media Matters. Musk also came under fire after he&nbsp;<a href="https://www.forbes.com/sites/tylerroush/2023/11/16/elon-musk-condemned-after-calling-antisemitic-post-actual-truth/?sh=648123644020">shared</a>&nbsp;a post on X in which a user claimed “Jewish communities have been pushing the exact kind of dialectical hatred against whites that they claim to want people to stop using against them,” an argument Musk called “the actual truth.” The White House also&nbsp;<a href="https://www.forbes.com/sites/brianbushard/2023/11/17/white-house-condemns-musk-over-abhorrent-promotion-of-antisemitic-and-racist-hate/?sh=4990834c1ea5">condemned</a>&nbsp;that post, issuing a statement calling the claim an “abhorrent promotion of antisemitic and racist hate.” Musk on Wednesday apologized for the post and&nbsp;<a href="https://www.theverge.com/2023/11/29/23981771/musk-says-the-antisemitic-post-was-a-mistake" target="_blank" rel="noreferrer noopener">admitted</a>&nbsp;it was “one of the most foolish, if not the most foolish, thing I’ve done” on the platform.



<h2 class="wp-block-heading" id="h-big-number">BIG NUMBER</h2>



$7.2 billion. That’s how much Disney spent on advertisements in fiscal year 2022, surpassing its advertising budget in 2021 ($5.5 billion) and 2020 ($4.7 billion).



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



Disney became the latest in a wave of major companies to draw the ire of right-wing critics largely online. Earlier this year, Bud Light drew&nbsp;<a href="https://www.forbes.com/sites/conormurray/2023/05/20/far-right-pundits-are-slamming-companies-including-nike-adidas-and-ford-for-lgbtq-outreach-as-pride-month-nears/?sh=64d1685f76d0">massive pushback</a>&nbsp;among right-wingers, including pundits Candace Owens and Ben Shapiro, after the beer brand launched a partnership with transgender TikTok star Dylan Mulvaney. Fast food chain Chick-fil-A also came under fire after right-wing online circles expressed outrage over its hiring of a director of diversity, equity and inclusion in 2021, while Adidas faced right-wing pushback for a marketing campaign that included trans-inclusive swimwear. Target additionally faced right-wing blowback online for an LGBTQ Pride product line. In response to the criticism, Target&nbsp;<a href="https://www.forbes.com/sites/conormurray/2023/05/24/target-removes-pride-items-after-conservative-firestorm-sparking-criticism-from-lgbtq-groups/?sh=18e16e20e512">pulled</a>&nbsp;items from that line in late May, just a week before the start of Pride month, claiming in a statement that threats and criticism it received over the products were “impacting our team members’ sense of safety and well-being,” though the move also sparked pushback in LGBTQ circles over claims the company caved to right-wing blowback.



<h2 class="wp-block-heading" id="h-further-reading">FURTHER READING</h2>



<a href="https://www.forbes.com/sites/antoniopequenoiv/2023/11/29/elon-musk-says-advertisers-that-have-left-x-shouldnt-come-back/?sh=1f7dc21b10c0">Elon Musk Says Advertisers That Have Left X Shouldn’t Come Back</a>&nbsp;(Forbes)



<a href="https://www.forbes.com/sites/brianbushard/2023/11/17/apple-and-disney-pull-x-ads-after-musks-promotion-of-antisemitic-post-joining-these-other-companies/?sh=3f0da76a34fb">Apple And Disney Pull X Ads After Musk’s Promotion Of Antisemitic Post—Joining These Other Companies</a> (Forbes)

Popular Streaming Services Photo Illustrations

Disney Vs. Musk: Right-Wing X Users Push For Disney+ Cancellations As Disney Pulls Ads

I attended the US-Africa Business Summit in July in Botswana, a country I have lived in in my youth, as a bachelor and then as a parent to boot.



The kids were born in the country’s new and first private hospital, GPH, efficient and chic, way back in the 1990s.



The conference center is equally so today – sparkling, purpose-driven, punctuated by smart cops along the brand-new roads leading there. A hallmark of Botswana. No wastage. Elegantly done at just the right time.



I left Botswana 25 years ago and have traveled the globe a bit. A journey that made me understand geopolitics and see its hypocrisies. Yet, this Kalahari country of my youth quietly got so many things right: control over its primary resources, universal free health, education, buffering cattle farmers from market volatilities, infrastructure, institution building, respect for the law, clean elections, conservatism, and a policy-driven government staying true to its manifesto.



A case study on getting things done.



Yet, many of my old friends, prosperous and welcomed as they have been in their adopted country, remain critical.



I dare say I left them unmoved. Familiarity breeds contempt?



But if the country still had many flaws, diamonds too need imperfections to shine.



The weather that week was the quintessential Kalahari winter I had long forgotten. Cold and crisp in the shade and warm in the sun, dry in its core but embracing in its reach; epitomizing the Motswana spirit.



‘What you see is what you get.’ A GDP (Purchasing Power Parity) per capita of about $20,000, Africa’s best credit rating, and a literacy rate of about 90%. The country has shown what planning and execution can achieve in only five decades.



I have a special bond with it.



1966 is my birth year and the year of Botswana’s independence.



At that time, one of the poorest – with a GDP per capita of about $70 per year – landlocked and two-thirds desert, it has transformed itself from being hopeless to a developed country today.



The country’s tale of self-rule is intertwined with that of white supremacy to prevent a marriage between an African chieftain destined to be the first President and his white British fiancée. They overcame it against all odds while maintaining peace with an unapologetic British government and an apartheid neighbor, South Africa.



It is a story of love and self-belief.



And above all, supreme diplomacy from a rustic but wise nation to forge a modern nation. Indeed, a testament to the rural fabric of fortitude and patience.



If indeed a country’s future lies in its history, this country’s common sense is its foundation.



While there, my evenings were laced with nostalgic dinners. Soaked in old stories, revealed, regaled, and rekindled.



Touchingly, those lovely people of Gaborone, the country’s capital, served up my favorite cravings and my special indulgences. Bonded with love and tied with memories.



Humane but often elusive. Serene indeed to see people from yesteryears making time for you. The President is an imposing figure with conviction; he’s articulate and clearly visualizes a thriving, peaceful Botswana.



And indeed, he is so comfortable as an African thought leader.



I recalled the days of a ‘quiet’ Botswana.



Now, their charismatic leader espouses African collaboration, instilling hope, and embracing the wisdom that deliverance for Africa must come from ‘us, the people’.



He reiterates the enormous possibilities, the need to share knowledge within Africa and the necessity of collective bargaining.



The miracle that the continent survives despite the incessant barrage of exogenous influences should embolden us for greater things, not derail us.



I bow to Botswana, the cradle to my young impressionable days where the seeds of inspiration were sown in me.



I learned the joys of networking, collaborating, and understanding different cultures in this little unheralded town.



I learned humility was a tool, humanity a constant and hubris a disease. For prosperity, peace, and progress. In a continent of discontent, Botswana is that beacon of hope and tranquility. May it drive the destiny of Africa. A harbinger of greatness and a poster boy of solidity in the maligned and exploited continent of Africa. Thank you, Botswana, as you seek your rightful place among the great nations of this world.

Gaborone, South East, Botswana 27 April 2017 aerial panorama of  Main Mall

A Homecoming: To The Beacon Of Hope And Tranquility

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



Israel and Hamas on Thursday agreed to extend an ongoing temporary ceasefire by an additional day, just minutes before it was set to expire, a move that will allow for continued negotiations on the release of more hostages from Gaza in exchange for Palestinians held in Israeli prisons.



<h2 class="wp-block-heading" id="h-key-facts">KEY FACTS</h2>



The extension was announced by the&nbsp;<a href="https://twitter.com/MofaQatar_EN/status/1730096017763107245" target="_blank" rel="noreferrer noopener">Qatari Foreign Ministry</a>—which is mediating discussions between the two sides—just minutes before the ceasefire agreement was set to expire at 7 a.m. local time.



The extended truce maintains the same conditions both sides had agreed to previously where Hamas will release at least 10 Israeli hostages every day in exchange for 30 Palestinian prisoners.



Qatari officials said efforts for permanent ceasefire agreement are still ongoing.



The Israeli Prime Minister’s office said it has already informed the relatives of hostages who are expected to be released on Thursday, with&nbsp;Haaretz&nbsp;<a href="https://www.haaretz.com/israel-news/2023-11-30/ty-article-live/12-israelis-four-thai-nationals-released-from-hamas-captivity-in-gaza/0000018c-1e28-db78-adcc-be7c50fb0007?liveBlogItemId=720471109&amp;htm_source=site&amp;htm_medium=button&amp;htm_campaign=live_blog_item#720471109" target="_blank" rel="noreferrer noopener">reporting</a>&nbsp;that the list could include eight women and children.



This is a developing story.

Two-Day Truce Extension Promises Release Of More Israeli Hostages And Palestinian Prisoners

Israel-Hamas Ceasefire Extended By One More Day Minutes Before It Was Set To Expire

In South Africa, a revolutionary method for dark matter search that is setting a new trajectory for future explorations.



The quest to unravel the mysteries of dark matter has taken a significant turn with the latest research from the University of the Witwatersrand (Wits) in South Africa. Spearheaded by Professor Deepak Kar and his former PhD student, now postdoctoral researcher Sukanya Sinha, this study is published in Physics Letters B and marks a pivotal shift from traditional approaches in dark matter exploration.



Dark matter, invisible yet comprising about a quarter of the universe&#8217;s mass, has long puzzled scientists. Traditional searches have focused on weakly interacting massive particles (WIMPs), but to date, these efforts have not yielded concrete evidence of its existence. The Wits team, working at the ATLAS experiment at CERN (a center for scientific research in Switzerland), ventured into uncharted territory by investigating semi-visible jets, a novel concept in Dark Matter searches.



Kan, in an interview with FORBES AFRICA, sheds light on the significance of this new approach: &#8220;We looked for a very specific signature of dark matter, which no one has ever looked at, and we didn&#8217;t find it. So what does it tell us? That the dark matter probably doesn&#8217;t exist in that form, or even if it does, the fraction is probably much, much smaller.&#8221; This discovery informs and directs future research, eliminating certain possibilities in the elusive search for dark matter.



Kan further elaborates on the practical implications of their findings: &#8220;Future research in the exploration of dark matter would be informed by this&#8230; Our study is the most prominent result because it&#8217;s an experimental research.&#8221; He also notes the broader impact of their work: &#8220;Our research informs new ways we can look for dark matter in, say, visible jets and beyond. It tells us what is not there, reducing the possibilities.&#8221;



Discussing the relevance of dark matter research to daily life, Kan states: &#8220;It&#8217;s not something which helps in everyday lives directly&#8230; but it might lead to the development of technologies and techniques which can be used in more practical research.&#8221;



He highlights the long-term potential of such fundamental research, drawing parallels with the development of the World Wide Web and advancements in machine learning and artificial intelligence, which originated from similar scientific endeavors.



This research by the Wits University team not only propels the scientific community closer to understanding one of the universe&#8217;s greatest mysteries but also exemplifies the profound impact of fundamental research on technological and practical advancements. As the quest for dark matter continues, this novel method introduced by the Wits team stands as a beacon of innovation in the expansive field of astrophysics.

Researchers Prof Deepak Kar and Sukanya Sinha; Image supplied1

Wits University’s New Direction In Understanding One Of The Universe’s Greatest Mysteries

Traveling for work these days is not as simple as booking a flight, packing a suitcase and heading for the nearest airport lounge.



With the price of airline tickets sky-rocketing and the cost of hotel rooms in the stratosphere, companies are encouraging employees to get better bang for their travel buck.



To cut costs, bosses suggest cramming more meetings into the time away, driving to destinations instead of flying and – yes, you guessed it – sharing a hotel room with a colleague.



Many bosses have tried to dress up shared accommodation arrangements by telling employees that cohabitating is the perfect opportunity to build camaraderie and team work.



Some have been more direct and told staff that room shares might prevent a reduction in head count if they are forced to tighten their belts down the line.



Others have told staff it is not unlawful to ask colleagues to share rooms and recommended that they go with the flow and “buddy up” to save their company dollars.



But just because employees can share a hotel room does not mean they should.



Sharing with a colleague can be bad under any circumstance let alone if you are feeling unwell, experiencing “gassy” conditions, are prone to allergies or experience congestion during the evening.



And it can be uncomfortable to share a room with an early riser when you are a night owl or when you are forced to endure your colleague’s snoring or realize your roommate is a sleep walker.



Besides, being forced to witness your colleague in a towel or their sleepwear, share their soap when you shower and navigate their toiletries in the bathroom all go way beyond the call of duty.



It is important in the modern workplace that we get to know our colleagues though we only want to learn about work- appropriate aspects, not their more intimate or private sides.



Sharing rooms erodes the professional boundaries that we spend considerable time establishing.



You will not view your colleague Anna the same way if you become aware that she downs three shots of vodka each evening to help her to sleep. You will probably have a different view of Alan if you have been forced to listen to his raunchy sleep talking. And you will most likely have an alternative view of Alice after witnessing her 10-step bedtime regime, which includes two hours of reading before retiring but leaving a light on throughout the night.



If that is not enough to seal the case against sharing a hotel room with a workmate, there is more to consider.



Some people have medical conditions they would prefer not to disclose or be forced to manage in front of colleagues.



And of course the risk of sexual harassment is very real when unwanted advances take place behind closed doors in a shared hotel room.



Some employees will get around the problem of shared hotel rooms by paying for their own single room. Yet paying out of their own pockets is neither a reasonable nor fair solution to this escalating dilemma.



What is needed is for more workers to push back and make the point work travel is draining and that it is important to be well-rested to be effective in their line of work.



The more workers oppose shared accommodation arrangements then the greater the chance that employers will listen.



There is also the prospects of employers reducing costs by using cheaper hotel chains, making greater use of day trips without overnight stays and organizing virtual meetings as an alternative to travel.



But if the boss does require room-sharing, secure your employer’s assurance they will cover the expense of booking a separate room if your roommate’s behavior affects your ability to get a good night’s sleep.



Employees who travel for business to benefit their employer should be treated with the respect and regard they deserve.



This includes privacy and safety, a place for downtime away from colleagues and the opportunity to relax without having to worry about the views, emotions, routines and rituals of their colleagues.



Forcing employees to get to know each other in such an intimate way is not appropriate and can end up diminishing or destroying otherwise good working relationships between individuals.



To put this matter to bed once and for all, companies must refrain from asking employees to share rooms when traveling for work.



The risks will always outweigh the savings.

Interior of hotel room with twin beds

Sharing Rooms On Work Travels: The Good, Bad And Ugly

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



Shein, a China-based company that dominates the fast-fashion industry, has confidentially filed to go public, the <a href="https://www.wsj.com/business/fast-fashion-giant-shein-files-to-go-public-30a97410?mod=business_lead_story" target="_blank" rel="noreferrer noopener">Wall Street Journal</a> and <a href="https://www.cnbc.com/2023/11/27/shein-files-for-us-ipo-as-fast-fashion-giant-looks-to-expand-its-global-reach.html" target="_blank" rel="noreferrer noopener">CNBC</a> reported Monday.



<h2 class="wp-block-heading">KEY FACTS</h2>



Shein will be working with Goldman Sachs, JPMorgan Chase and Morgan Stanley as underwriters on the offering, the Wall Street Journal reported.



The initial public offering could happen as soon as 2024, people with knowledge of the matter told CNBC and the Journal.



Last year Shein was valued at $100 billion—worth more than the combined value of two of its fast-fashion competitors, Zara and H&amp;M, according to previous Forbes <a href="https://www.forbes.com/sites/janeho/2022/11/09/founder-of-fast-fashion-phenomenon-shein-joins-ranks-of-chinas-richest-after-new-fundraising/?sh=10f1cb782bc7">reporting</a>—though Bloomberg reported the value <a href="https://www.bloomberg.com/news/articles/2023-11-07/shein-targets-up-to-90-billion-valuation-in-us-ipo-sources-say?embedded-checkout=true#xj4y7vzkg" target="_blank" rel="noreferrer noopener">dropped</a> to between $50 billion and $60 billion this year as higher interest rates and an uncertainty cloud the market.



Shein declined to comment to Forbes.



<h2 class="wp-block-heading">WHAT TO WATCH FOR</h2>



Earlier this month, people familiar with Shein’s IPO intentions&nbsp;<a href="https://www.bloomberg.com/news/articles/2023-11-07/shein-targets-up-to-90-billion-valuation-in-us-ipo-sources-say?embedded-checkout=true#xj4y7vzkg" target="_blank" rel="noreferrer noopener">told</a>&nbsp;Bloomberg the company hopes to get a valuation of around $80 billion or $90 billion before going public, which would be one of the largest initial public offerings ever.



<h2 class="wp-block-heading">KEY BACKGROUND</h2>



An IPO has long been rumored for Shein, which was founded in 2008 and quickly gained ground in the fast-fashion field. It’s known for selling trendy clothes that target Gen Z buyers with dirt cheap prices, regularly offering products for under $10. The company has faced its fair share of controversy and has regularly been criticized for relying on cotton produced with forced labor in China’s Xinjiang region. Earlier this year, 16 state attorneys general formally asked the Securities and Exchange Commission to not allow Shein to go public until it can prove the company doesn’t use forced labor, CNBC&nbsp;<a href="https://www.cnbc.com/2023/08/30/shein-faces-scrutiny-over-forced-labor-before-ipo.html" target="_blank" rel="noreferrer noopener">reported</a>. Shein is also under investigation by a House committee scrutinizing China, and a&nbsp;<a href="https://selectcommitteeontheccp.house.gov/media/press-releases/select-committee-releases-interim-findings-shein-temu-forced-labor" target="_blank" rel="noreferrer noopener">report</a>&nbsp;from June said Shein and Temu—another fast fashion company—“raise serious concerns about the continued presence of products made with forced labor contaminating American imports.” Shein has denied that it uses forced labor, Bloomberg&nbsp;<a href="https://www.bloomberg.com/news/articles/2023-10-24/us-lawmaker-seeks-investigation-that-could-bar-shein-apparel" target="_blank" rel="noreferrer noopener">reported</a>.



<h2 class="wp-block-heading">FORBES VALUATION</h2>



We estimate <a href="https://www.forbes.com/profile/chris-xu/?sh=237275327aa4">Sky Xu</a>, founder and CEO of Shein, to be worth $11.2 billion as of Monday evening, making him the 166th wealthiest person in the world. He was also listed at No. 19 on Forbes’ <a href="https://www.forbes.com/lists/china-billionaires/?sh=4cbb22262d43">China’s Richest list</a>, published earlier this month.



<h2 class="wp-block-heading">KEY BACKGROUND</h2>



An IPO has long been rumored for Shein, which was founded in 2008 and quickly gained ground in the fast-fashion field. It’s known for selling trendy clothes that target Gen Z buyers with dirt cheap prices, regularly offering products for under $10. The company has faced its fair share of controversy and has regularly been criticized for relying on cotton produced with forced labor in China’s Xinjiang region, home to the Uyghur population. Earlier this year, 16 state attorneys general formally asked the Securities and Exchange Commission to not allow Shein to go public until it can prove the company doesn’t use forced labor, CNBC&nbsp;<a href="https://www.cnbc.com/2023/08/30/shein-faces-scrutiny-over-forced-labor-before-ipo.html" target="_blank" rel="noreferrer noopener">reported</a>. Shein is also under investigation by a House committee scrutinizing China, and a&nbsp;<a href="https://selectcommitteeontheccp.house.gov/media/press-releases/select-committee-releases-interim-findings-shein-temu-forced-labor" target="_blank" rel="noreferrer noopener">report</a>&nbsp;from June said Shein and Temu—another fast fashion company—“raise serious concerns about the continued presence of products made with forced labor contaminating American imports.” Shein has denied that it uses forced labor, Bloomberg&nbsp;<a href="https://www.bloomberg.com/news/articles/2023-10-24/us-lawmaker-seeks-investigation-that-could-bar-shein-apparel" target="_blank" rel="noreferrer noopener">reported</a>.

Trending Apps Photo Illustrations

Shein Reportedly Files For IPO Amid Fast-Fashion Surge

The African Cup of Nations (AFCON), the continent’s most important international men’s association football competition, is less than two months away. FORBES AFRICA offers some insight into what one can expect in the build-up to this much-anticipated exhibition.



Few times, if ever, has the favorite going into an Africa Cup of Nations (AFCON) tournament emerged after a month of intense action hoisting aloft the trophy.



But two years ago, at the last edition in Cameroon, Senegal were certainly a sentimental favorite because they had come so close on several previous occasions but never won, and so when they emerged as victors, it was to many neutrals’ delight.



As reigning African champions, that will make them among the fancied sides this time round, which if historic precedence is followed, will not be welcome.



No team since Egypt in 2008 has been able to hold on to the African crown and Ghana and Cameroon are the only other countries able to retain their title.



The 34th edition Cup of Nations will kick off on January 13 and is being hosted in the Côte d&#8217;Ivoire – a second time for the West African country after the 1984 finals.



Then it was an eight-team tournament, completed in the space of 14 days, but Africa’s continental championship is much evolved. This time round, the Ivorians host 24 teams at six different stadia, four of them newly built for the tournament, which will have a bevy of top stars on display, with the ever-increasing number of African players now featuring in the top leagues in Europe.



Their clubs are not happy they will be absent for up to a month but FIFA rules dictate national teams enjoy preference on the players’ service over clubs when a continental championship, like AFCON, is hosted. Ideally, the players should not have to suffer the tug of club versus country.



But this tournament was moved back six months because of concerns over the rainy season in the region and is now being hosted slap bang in the middle of the league season to the chagrin of the clubs who now lose the services of their best African players.



The concerns over the weather should have been raised when the Ivorians first bid to host the finals but are genuine and have already caused much consternation long before a ball has even been kicked.



The newly-built showpiece Stade Olympique d&#8217;Ebimpé in Abidjan, where the final is due to be played on February 11, turned into a paddling pool in September when the Ivory Coast played Mali in a friendly and the heavens opened. There was no proper drainage and eventually the game had to be called off to the embarrassment of the Ivorians.



There were pitch problem at the last Cup of Nations in Cameroon too, to the consternation of the Confederation of African Football (CAF), and they can ill afford a repeat this time, seeking to assure that the playing surfaces are of a quality that ensures a good footballing spectacle. French experts have been called in to make sure all the pitches are ready for carpet football once the event gets underway.



If all conditions do turn out to be top class, it is tournament that has the potential to be a top quality event, given the strength and depth of the protagonists.



Of the 24 participating nations, half have won the tournament previously. This time there are no newcomers but some tricky minnows with a proven pedigree for creating carnage. Equatorial Guinea and the Gambia, for example, were giant killers at the last finals and return again with the ability to upset the established pecking order.



Hosts Côte d&#8217;Ivoire, who have won twice before in 1992 and 2015, have a talented squad but are a little short of tournament temperament. They will look to the former England international Wilfred Zaha to lead their hopes and he certainly has the x-factor to lead them to the winners’ podium.



Morocco, on the back of their heroic exploits at the 2022 World Cup, will be the most fancied side but teams from Arabic-speaking North Africa have a long history of struggling when AFCON is hosted south of the Sahara.



Egypt did win in Burkina Faso in 1998 and again in Ghana 10 years thereafter, but Morocco have pointedly failed time and again in the continental championship, particularly when they have been hailed as pre-competition favorites.



Perhaps this will be their time given the confidence they collected in Qatar, where the 2022 World Cup took place, when they became the first African, and Arab, nation to reach the semi-final.



Algeria will have a heavyweight selection of French-born players from the massive Diaspora that they have across the Mediterranean, while Egypt are ever dangerous, particularly if Mohamed Salah is on song. Egypt lost narrowly in the last Cup of Nations finals to Senegal on post-match penalties.



It has been a decade since Nigeria last won the competition but this could be their opportunity again with a squad brimful of attacking talent. It is led by the striker Victor Osimhen, who finished top scorer in Italy last season where he helped Napoli to win the league.



Often times, however, the players’ ambition is let down by the foibles of their administrators, whose incompetence might make things tough for Nigeria to realize its massive potential.



The tournament is being played in Abidjan (two stadiums), Bouake, Korhogo, San Pedro and Yamoussoukro with all but two of the venues built specifically for the tournament.

South Africa v Morocco – Africa Cup of Nations

The Pride Of African Football: A Look Ahead

A vision to enhance Nigeria&#8217;s power landscape and facilitate a transition to a more sustainable energy mix.



In a strategic move in Abuja, Nigeria&#8217;s federal capital territory (FCT), the minister of power, Bayo Adelabu, held a meeting with Sun Africa LLC, a US-based renewable energy solutions provider. &#8220;Together, we solidified a collaboration to enhance Nigeria&#8217;s power landscape,&#8221; he affirmed. The collaboration aims to deliver 961 megawatts peak (MWp) of solar photovoltaic (PV) generation infrastructure and 455 megawatt-hours (MWh) of battery energy storage systems, amounting to a $2.2 billion investment.



Adelabu disclosed this while sharing the vision during his visit to Cotonou, Benin Republic. &#8220;I had the honor of representing Mr President [Bola Tinubu] at the commissioning of the West African Power Pool&#8217;s (WAPP) Communication and Coordination Center,&#8221; he posted via his X account on November 19.



This initiative by the Economic Community of West African States (ECOWAS) promises &#8220;seamless power transmission and market-driven energy trading across the West African sub-region.&#8221;



Excitement resonated in the minister&#8217;s words as he shared his anticipation of the positive impact of the solar PV generation infrastructure on Nigeria. &#8220;This collaboration is a crucial step in transitioning to a more sustainable power mix, vital for economic growth and environmental responsibility,&#8221; he emphasized. The commitment from Sun Africa aligns with his power sector transformation roadmap, focusing on distributed power leveraging renewable energy.



This is coming on the heels of the visit of the president of the World Bank, Ajay Banga, where he co-convened a private sector roundtable with discussions held on the crucial role electricity plays in the country&#8217;s economic development. The World Bank notes that 85 million Nigerians lack access to electricity, and if left unaddressed, this figure is expected to rise to 94 million by 2030.



The financial backing for this ambitious venture is equally robust. &#8220;Financing partners ING Bank and Citi, backed by the US Export-Import Bank (US-EXIM Bank), actively support this venture, committing up to $10 billion over the years,&#8221; revealed the minister.



This support, according to Adelabu, not only ensures the success of the initial phase but also lays the foundation for future developments. Collaborating with Sterling and Wilson Renewable Energy Limited as the Engineering, Procurement, and Construction (EPC) partner further solidifies the project&#8217;s strategic execution.



He expressed gratitude to all stakeholders involved, recognizing this collaborative effort as a milestone in advancing sustainable and reliable energy solutions for Nigeria. &#8220;Together, we forge a path towards a brighter, greener, and more energy-efficient Nigeria,&#8221; he concluded.

Laptop, farm and engineer team together at night for renewable energy, power and wind turbine. Electrician or technician man and woman in nature for electricity, eco and green environment maintenance

Nigeria And Sun Africa Spearhead $2.2 Billion Renewable Energy Solution

Analysts express concerns over the second postponement of the Central Bank of Nigeria&#8217;s (CBN) Monetary Policy Committee (MPC) meeting, crucial for interest rates, leading to uncertainties in the market.



While investors began the week on a negative note, resulting in a 0.15% decrease in Nigeria&#8217;s equities market, it closed with a 0.07% gain on Thursday. This was propelled by bargain activities in small to mid-cap stocks.



On Monday, Stanbic IBTC Holdings, CWG, and Caverton Offshore Support Group witnessed profit-taking, leading to share price declines. Stanbic IBTC Holdings saw a 7.08% drop, CWG lost 3.14%, and Caverton was down by 2.78%. However, on Thursday, Beta Glass led market advancers, rising by 10%, while Multiverse, Mecure Industries, and Nigerian Enamelware also experienced significant gains.



At the close of Thursday&#8217;s session, the Nigerian Exchange Limited (NGX)-All-Share Index (ASI) increased to 71,052.85 points from 71,008.7 recorded on Monday. Market capitalization reached ₦39.074 trillion ($40.85 billion), bringing the year’s return to 38.63% from 38.55%. In 6,579 deals, investors exchanged 563,707,721 shares worth ₦3.442 billion ($3.59 million).



“For this week, we expect a couple of factors to impact investors’ sentiment. Specifically, we anticipate a downturn in market momentum driven by concerns around the inconsistency of the Monetary Policy Committee (MPC), [as it further postponed its next meeting scheduled to hold during the week].



“Also, we foresee profit-taking activities across tickers that have realized significant gains. However, we do not rule out the possibility of bargain-hunting activities during the week as investors strategically take positions on stocks with attractive entry points.



“Overall, we expect the market to trade on a mixed note with a prevailing bearish sentiment. Thus, we expect the NGX-ASI to close in the red zone this week,” Meristem research analysts reportedly said in their stock recommendation for Monday.



The devaluation of the Naira in June has had a significant impact on Nigerian businesses, particularly foreign-owned subsidiaries trading on the Nigerian Exchange.



Companies with foreign parent groups, importing a substantial portion of their inventories, experienced unrealized FX losses due to the devaluation.



The MPC of the Central Bank of Nigeria (CBN) has twice postponed its 293rd meeting, initially set for September 25 and 26, since the nomination of the new governor, Yemi Cardoso, in the same month.



The meeting, intended to address various issues, including the decision on interest rates, was rescheduled for the second time on Monday, shifting to an unspecified date. This meeting would have signified the inaugural rates meeting under Cardoso. While acting as CBN governor from June to September, Folashodun Shonubi oversaw two interest rate increases at the bank.



With the enactment of the new CBN Act (2007) by the National Assembly, the reconstituted MPC &#8220;meets bi-monthly, except in the event of an emergency&#8221;. The two-day meeting occurred in January, March, May, and July 24 and 25. According to the Act, the meeting was supposed to take place in September and November, raising concerns about efforts to stabilize the nation&#8217;s currency, which has plummeted about 42% this year, contributing to inflation which worsened in October.



Nigerian analyst Kolawole Oyebola weighs in on the situation, attributing the negative sentiment to global economic concerns and regional factors impacting investor confidence.



Oyebola notes that the early-week downturn was a reflection of the cautious approach adopted by investors amid geopolitical tensions and fluctuating commodity prices. &#8220;The market experienced a slight dip on Monday as investors reacted to external pressures, exhibiting a typical risk-averse behavior,&#8221; Oyebola tells FORBES AFRICA.



&#8220;The mid-week recovery suggests that investors reevaluated their positions, with a focus on the underlying strength of the Nigerian economy,&#8221; Oyebola explains. He highlights positive indicators, including increased trading volumes and strategic investments in key sectors.



While uncertainties persist, Oyebola expresses optimism about the market&#8217;s ability to navigate challenges. &#8220;Investors are becoming more discerning, and we&#8217;re witnessing a more mature approach to risk management,&#8221; he remarks.



The analyst urges stakeholders to closely monitor global economic developments, emphasizing the interconnected nature of financial markets. &#8220;I encourage investors to adopt a balanced and informed strategy to navigate the evolving landscape.&#8221;

Central Bank of Nigeria headquarters in Abuja.

Nigerian Equities Overcome Early Week Slump, Close With Gains On Thursday

The Nairobi-based co-founder of Craydel, an online career guidance platform, speaks to FORBES AFRICA about its ambitions to democratize higher education and scale across Africa. But first, more on what sparked his entrepreneurial journey.



Manish Sardana is in the midst of a busy day, opening yet another office, a bigger one, in Nairobi’s upscale Westlands area when we catch up for a conversation on Craydel, the edtech startup he successfully co-founded in Kenya in 2021, at the height of the Covid-19 pandemic.



“Right now, we have five offices – three in Nigeria and two in Kenya – and about 70-odd employees and we are growing rapidly,” the platform’s 43-year-old CEO says about the growth of what was once “just an idea in his head”.



At a time when most startups are battling to survive and retrenching staff, Craydel is hiring rapidly and on its way to profitability in 2024, he adds. On the cards: expansion to more markets such as Ghana, Uganda and South Africa. The investors are keen and Sardana is optimistic.



“When you are building something that has a real vision trying to solve a real problem, you get people gravitating towards you,” says Sardana of his platform that dispels misinformation and biases for students and guides decisions on college and course selection.&nbsp;Craydel is building the tech infrastructure to empower African learners to search, match and apply to their best-fit higher education institutions.



In 2021, Sardana, along with his co-founders <a href="https://www.linkedin.com/in/john-nguru-38677638/?originalSubdomain=ke" target="_blank" rel="noreferrer noopener">John Nguru</a> and <a href="https://www.linkedin.com/in/shayne-aman-premji/?originalSubdomain=ke" target="_blank" rel="noreferrer noopener">Shayne Aman Premji</a>, secured $1 million for Craydel in a pre-seed round led by Enza Capital, a private venture fund that invests in early-stage tech startups across Africa. Subsequently, they secured another $1.5 million to grow the platform.



Craydel – a play on the word ‘cradle’ – &nbsp;hand-holds students wanting to pursue higher education – from graduation to post-graduation to PhD – at any point in their student or professional career. In fact, 50% of their postgraduate enrolments are working professionals looking for a career change, says Sardana.



The tech startup has 380 direct partnerships with universities so far and seeks to democratize access to tertiary education, in turn, addressing the low gross enrolment rate, of about 9%, in sub-Saharan Africa (SSA). This includes working professionals who have not been to college before, for want of access to capital and resources.



Two years in, Sardana says they have figured out the formula for success.



“We know that if you do X, Y and Z, you are going to be successful. That equation is very clear to us now.



We want to show that we can build a real unicorn out of Africa, creating real impact.”



But there’s a reason why Craydel may as well be on its way to savoring billion-dollar success in the future. Sardana has a track-record of building and scaling successful businesses from the ground-up.



His penchant for entrepreneurship had its humble beginnings in India, and followed him to Africa, a continent that he now calls home and one that has “given so much” to him.&nbsp;&nbsp;



“I owe it to Africa,” he explains of his mission to expand opportunities in education.



“One of the things I realized early on in life is to observe things around me… What I love is looking at ecosystems and how things work, and understand how it is broken, and use technology to disrupt that ecosystem. There&#8217;s also a theory I use, which is called ‘perpetuators versus agitators’; wherein perpetuators perpetuate an ecosystem because it benefits them, while an agitator can really shake this up from the outside and create a better, more efficient ecosystem,” says Sardana.



‘Serial entrepreneur’



His first tryst with entrepreneurship was at the age of 10. From a middle class home in Delhi – with three rooms and 16 family members – Sardana was born to parents who worked in the government and instilled in him a love for reading.



He engaged this by creating “a sharing concept or library with a common pool of books and comics from everyone in one place”, renting books out to friends and relatives. The venture failed, but not without him realizing how much he enjoyed the process of creating it. All through school and college, he found enterprising ways to make pocket money, becoming “a serial entrepreneur more out of necessity than anything else”.



His parents allowed him these entrepreneurial bouts, so long as he was going to top his class, study economics and go on to become a civil services officer. Whilst studying for an economics degree in Delhi University’s Hansraj College, Sardana was also teaching students. But disillusionment set in.



“I mean 90% of what I studied two years ago, I had no recollection of, and I could not see how that education was going to ever help me in life. And especially because I had kind of exposed myself to building businesses, I did not see any practical application of what I was studying.”



Along with a couple of friends, he soon set up his own publishing business – a college magazine in Delhi University that proved to be very popular on campus. He hustled, spending nights at the printing press and knocking on advertisers’ doors during the day, thumbing through the Yellow Pages directories and traveling across Delhi on his dad’s scooter. This was in the year 2000.



“My parents said I have got to stop this and do my master’s degree,” says Sardana. His mom filled out a form to the prestigious Delhi School of Economics. Some of India’s greatest economists such as Nobel laureate Amartya Sen and former Indian Prime Minister Dr Manmohan Singh have taught at the institution. &nbsp;



Sardana cleared the entrance exam, quite by default. “I really did not study for it. The only way I cleared the exam was because I was teaching my classmates and charging them money for it. So I would [conduct] private tuitions for my own classmates, and in the process of teaching them, I would kind of learn myself.”



Very soon, he realized it was all theoretical economics and he had no passion for it. It didn’t challenge him enough, so three months into the course, he quit.



After that, he tried to rekindle the magazine business but had to close it down. He also authored an economics textbook for class 12 students. A year on, he went on to do his MBA at the FORE School of Management and was subsequently hired by advertising agency FCB Ulka. Before long, he felt “jaded” in the industry doing marketing campaigns. But Sardana was also closely watching from the sidelines the big renaissance unraveling in India’s technology sector.



“That was in 2004-2005, the internet was coming up, Amazon was becoming a big thing and Google had come up. I saw the power of technology really changing and transforming ecosystems and got really excited about it,” he recalls.



After that, he worked four years in a successful edtech startup called Vriti, and the company managed to raise a total funding of $35 million.



“It was a lot of money at the time… Eventually, I sliced the part of the company I was running and set up as a separate company. I sold my company to a financial investor. So that was my first successful exit, which I was really happy about.



“And then, after seven years, I needed a break, I was very much done. Startups can also be an emotionally-draining experience, you know, especially when you are just married and have kids.”



A six-month break ensued, during which time he also helped his wife set up her bakery business, delivering her cakes door-to-door in their black Maruti Esteem car.



That was in 2014 when Sardana’s Africa rendezvous was just about to begin.



‘Owe it to Africa’



One of his former bosses who had been following his journey in the technology space told him about an opportunity in Africa with multinational communications company, WPP to focus on the digital marketing side of the business.



Within 10 days of receiving the offer, Sardana was on a plane to Kenya, his first trip outside of India. It took him three years to settle down, to understand the market and the consumers, and he was promoted to Managing Director for WPP-Scangroup in SSA.&nbsp; &nbsp;



He won a lot of business for the company but the entrepreneur in him was beginning to surface, again. He built a marketing automation platform called Optimus for the company, which is when he met and worked with his current co-founder and CTO, Nguru.



He presented the product to the board but it didn’t work. He presented it to one of their clients, Barclays in Kenya, and thereby to the bank’s leadership in South Africa, who were very impressed and gave him a chance to deploy it across their markets, which he calls his “first lucky break”.



“Once Barclays happened, you know, success creates more success. Suddenly, at WPP, the guys woke up!”



Sardana says Optimus was also deployed by leading African entities such as Kenya Commercial Bank, Equity Bank, the Old Mutual Group and Airtel.



The epiphany after that was inspired by his wife, whose bakery business was also doing well.



“She said to me ‘you know, you guys keep building all this sophisticated technology for large blue chip companies, but what about building something to help small businesses like us scale’?



“That was my first moment in Africa when I said, ‘okay, I&#8217;m making a lot of money for myself, am building a lot of wealth for my organization and for my clients, who are very rich people to start with, but we are really not doing anything of any significance, of impact, using our skill sets, and our insights for the large masses, the small business sector. If you understand Africa, it&#8217;s really run on the back of very micro SMEs.”



This led to the creation of Optimus Mini for small businesses. Eventually, that platform was called Goby – “the smallest fish in the world”. He explains the philosophy behind it.



“The big fish eat the small fish. So we wanted to empower the small fish to fight and compete with the big fish, by giving them access to all the technology and resources they needed. It was essentially e-commerce-as-a-service platform, allowing small entrepreneurs to upload their product pictures and prices, and it will set up an entire e-commerce shop for them online, integrated with payment gateways and logistics partners to deliver the products.”


<div class="wp-block-image">
<figure class="alignright size-large is-resized"><img loading="lazy" decoding="async" width="682" height="1024" src="https://cms.forbesafrica.com/wp-content/uploads/2023/11/Manish-Sardana-image-supplied-682x1024.jpeg" alt="" class="wp-image-60328" style="width:335px;height:auto" srcset="https://cms.forbesafrica.com/wp-content/uploads/2023/11/Manish-Sardana-image-supplied-682x1024.jpeg 682w, https://cms.forbesafrica.com/wp-content/uploads/2023/11/Manish-Sardana-image-supplied-200x300.jpeg 200w, https://cms.forbesafrica.com/wp-content/uploads/2023/11/Manish-Sardana-image-supplied-768x1153.jpeg 768w, https://cms.forbesafrica.com/wp-content/uploads/2023/11/Manish-Sardana-image-supplied-1023x1536.jpeg 1023w, https://cms.forbesafrica.com/wp-content/uploads/2023/11/Manish-Sardana-image-supplied-1364x2048.jpeg 1364w, https://cms.forbesafrica.com/wp-content/uploads/2023/11/Manish-Sardana-image-supplied-scaled.jpeg 1705w" sizes="(max-width: 682px) 100vw, 682px" /><figcaption class="wp-element-caption">Manish Sardana; image supplied</figcaption></figure></div>


It really was just Nguru and Sardana developing it at that point.



“John is an exceptional technology guy, he&#8217;s amazing. I would come up with a product design, the user experience, the strategy, the business side of things and he would build the technology. Technology was always my handicap – I always regret not learning to code. I have all the stuff in my head but can’t build. I tell John he completes my handicap,” says Sardana.



In three months, they had 3,000 merchants signing up, deeming the platform a success. This was while they were still with WPP-Scangroup, when they had the reach, the capital and client access afforded by the company.



When Covid-19 struck in 2020, e-commerce took off and so did Goby. Leading brewer AB InBev approached them to sign on for “a B2B version of the product” to take orders online and deliver alcohol. Diageo, too, came along.



But the time had come for Sardana to go on his own, even if it meant giving up a lucrative salary and the comfort of a full-time job at WPP.



“Working with Manish was always magical, a journey into the future,” remembers Serah Katusya of that time, when she was the Managing Director at Mediacom, a sister agency at WPP-Scangroup; she is now the CEO of Belva and founder of WildMango.&nbsp;“He challenged and inspired with the same energy. He paved the way for many of us into tech, into thinking and building business solutions.&nbsp;He was definitely an agency leader decades ahead of his time.”



By the time he left WPP, Sardana had enough confidence in his abilities to build and scale real businesses. He wanted to build something in a very different space, specifically, in education.



“I think that was a very big inflection point in my life… that I was wasting all my knowledge, talent and experience building things for big companies, and I wanted to solve real problems on the ground. So that kind of gave me an exceptional amount of clarity… seeing the lives of ordinary Kenyans, doing fascinating things with very little resources and transforming their lives became a real thing.”



‘A cradle for young students’



Sardana’s research showed that there were government subsidies and funding for primary education but there was not a lot of momentum in higher education.



“The higher education infrastructure in sub-Saharan Africa is extremely weak. The problem is that in most schools, the career counselor is essentially a teacher with the least amount of workload…. This entire industry is run by agents who don&#8217;t understand career counseling; they essentially push students to universities, and make money.”



According to Craydel, more than 16 million African students spend $30 billion on higher education each year.



As a continent with the youngest population in the world, Africa presents tremendous opportunities in this regard, and Sardana was quick.



“We wanted to build a cradle for young students in Africa, for them to get all the nourishment in terms of the right advice, the career counseling, the psychometric assessment, and the right technology to get them off on their own feet.”



Whilst they were setting up the company, and during the pandemic, Sardana met Premji, the third co-founder, who is now Craydel’s CFO.



“Shayne is Canadian, but like me, stayed in Africa for 10 years. We stayed on the same street in Kenya but never knew each other. During the pandemic, he was changing houses, and walked into our apartment building. That&#8217;s how we met. He had a lot of experience in investment banking, and was doing extremely well in his career…



He is also impact-driven, so said he wanted to quit his job and join us full-time… he was extremely instrumental in raising our first round of a million dollars,” says Sardana.



For now, the trio is looking forward to what lies ahead. Their “vision and impact story” is shaping up.



“We&#8217;re in a good space now, and really excited about building this journey,” concludes Sardana, as he sets off to launch the company’s brand-new office, surely, one of many more to come.

Tag: Africa

FORBES AFRICA SOCIAL MEDIA