The World Bank estimates that for Nigeria to achieve its ambition of becoming a $1 trillion economy by 2030, it would need to grow five times faster than its current pace.



Nigeria’s economy expanded by 4.6% year-on-year in the final quarter of 2024, pushing annual growth to 3.4%—its fastest pace in a decade, excluding the temporary rebound from the Covid-19 pandemic, according to the World Bank’s newly released Nigeria Development Update (NDU).



Titled Building Momentum for Inclusive Growth, the biannual report highlights a cautiously optimistic economic outlook, crediting the acceleration to a stronger fiscal position and improved revenue collection.



The World Bank noted that Nigeria’s fiscal deficit narrowed sharply from 5.4% of Gross Domestic Product (GDP) in 2023 to 3.0% in 2024, driven by a surge in Federation revenues, which rose from ₦16.8 trillion (7.2% of GDP) in 2023 to an estimated ₦31.9 trillion (11.5% of GDP) last year.



This marks a rare turnaround for Africa’s most populous nation, which has long struggled to convert its natural wealth, especially from oil, into sustained economic development.



Despite previously boasting the continent’s largest economy, Nigeria has historically faced chronic underinvestment in infrastructure, high unemployment, and deep fiscal imbalances worsened by fuel subsidies and volatile oil prices.



“Now, the challenge is to consolidate macroeconomic stability and ignite inclusive growth through deeper, wider structural reforms. There is a need for the economy to generate more and better jobs at scale and reduce poverty,” the World Bank recommended in a statement.



Inflation, while still elevated, is expected to decline modestly, averaging 22.1% this year. The report attributes this trend to tighter monetary policy, which has helped to stabilize expectations after years of policy uncertainty.



The Central Bank of Nigeria (CBN) has faced mounting pressure to restore its credibility after previous years of multiple exchange rates and unorthodox interventions.



The government of President Bola Tinubu, who assumed office in mid-2023, has taken steps to roll back fuel subsidies and unify the exchange rate—a move welcomed by investors but controversial at home, where cost-of-living pressures remain acute. The World Bank emphasized that inclusive growth remains the missing link in Nigeria’s economic story.



“Nigeria can attain 3.6% growth this year by scaling cash transfers, pursuing public-private partnerships like India’s 2010s infrastructure push, and issuing diaspora bonds to tap $20.1 billion in 2023 remittances,” Nigerian analyst Liadi Oluwaseyi Jimoh says to FORBES AFRICA. “Policy reversals, as in Argentina, must be avoided. Without addressing inflation and global risks, momentum could falter.”

Flag of Nigeria and modern glass façade, Lagos, Nigeria

Nigeria’s Economic Growth Hits 10-Year High, World Bank Urges Deeper Reforms To Sustain Momentum

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



The White House announced it has lowered the tariff rate charged for small and low-value packages shipped from China from 120% to 54%—which could provide some relief to e-commerce platforms like Shein, Temu and AliExpress—after the two countries announced plans to cut back tariffs on each other&#8217;s goods for at least 90 days.



<h2 class="wp-block-heading" id="h-key-facts">Key Facts</h2>



The U.S. and China&nbsp;<a href="https://www.forbes.com/sites/siladityaray/2025/05/12/us-and-china-agree-to-roll-back-most-tariffs-for-90-days-as-negotiations-continue/">announced</a>&nbsp;Monday morning they were lowering tariffs on each other for 90 days, with the U.S. dropping its 145% tariff rate to 30% for Chinese goods, and China dropping its 125% rate to 10% for goods from the U.S.



The announcement did not initially mention the 120% rate applied to shipments from China valued at “less than $800,” but the White House shared an executive order late on Monday mentioning the lower 54% rate.



Under the original order, package from China valued at less than $800 faced a 120% levy, “or a flat $100 fee per postal item,” but while the tariff rate has been lowered, the flat fee option remains at $100.



The flat fee was supposed to rise to $200 on June 1, but Monday night’s order notes this hike has been paused.



<h2 class="wp-block-heading" id="h-key-background">Key Background</h2>



The U.S. and China have been in a trade war since Trump announced his “Liberation Day” tariff increases, which placed at least a 10% tariff on all countries the U.S. trades with, though many countries saw much higher tariff rates. China faced the highest rate, with Trump upping its tariff&nbsp;<a href="https://www.forbes.com/sites/alisondurkee/2025/04/10/trumps-tariffs-on-china-are-now-at-least-145-white-house-confirms-higher-than-he-previously-claimed/">rate to 145%</a>. Trump said it was at least in part because the country was not doing enough to limit the amount of fentanyl coming into the U.S., and in an effort to increase domestic manufacturing and have companies move production out of China. Last year, China was the third-largest exporter to the U.S., with $143.5 billion in Chinese exports coming to the states, but it had a $295 billion trade surplus, according to data from the&nbsp;<a href="https://www.census.gov/foreign-trade/statistics/highlights/top/top2412yr.html" rel="noreferrer noopener" target="_blank">Census Bureau</a>. Trump’s tariffs were a key part of his presidential campaign, and he worked quickly to enact them after being inaugurated, despite warnings from economists that they would have a negative impact on the economy and raise prices for American consumers. On April 25, Shein and Temu—two major online Chinese retailers known for cheap prices that have found success among American consumers—raised prices in response to Trump’s tariffs, which&nbsp;<a href="https://www.temu.com/common-policy.html?policy=temucustomernotice" rel="noreferrer noopener" target="_blank">both</a>&nbsp;<a href="https://us.shein.com/campaigns/sheincustomernotice" rel="noreferrer noopener" target="_blank">retailers</a>&nbsp;said increased their operating expenses.



<h2 class="wp-block-heading" id="h-big-number">Big Number</h2>



23%. That’s how much Shein’s U.S. sales dropped during the week of April 25 to May 1—after Shein implemented price increases—compared to the week before,&nbsp;<a href="https://www.bloomberg.com/news/articles/2025-05-07/temu-shein-see-us-sales-drop-in-week-after-tariff-price-hikes" rel="noreferrer noopener" target="_blank">Bloomberg</a>&nbsp;reported. Bloomberg also reported Temu’s sales dropped 17% over the same period.



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



Packages from China that were valued at less than $800—like many of the goods from Temu and Shein—were previously exempt from tariffs or customs duties through the “de minimis” loophole, which Trump eliminated, then&nbsp;<a href="https://www.forbes.com/sites/saradorn/2025/02/07/trump-reinstates-de-minimis-tariff-exemption-for-shipments-under-800-boosting-shein-and-temu/">reinstated</a>, then&nbsp;<a href="https://www.whitehouse.gov/fact-sheets/2025/04/fact-sheet-president-donald-j-trump-closes-de-minimis-exemptions-to-combat-chinas-role-in-americas-synthetic-opioid-crisis/" rel="noreferrer noopener" target="_blank">eliminated again</a>&nbsp;on May 2.



<h2 class="wp-block-heading" id="h-further-reading">Further Reading</h2>



<a href="https://www.forbes.com/sites/siladityaray/2025/05/12/us-and-china-agree-to-roll-back-most-tariffs-for-90-days-as-negotiations-continue/">US And China Agree To Roll Back Most Tariffs For 90 Days As Negotiations Continue</a>&nbsp;(Forbes)



<a href="https://www.forbes.com/sites/alisondurkee/2025/05/12/trump-offers-automakers-tariff-reprieve-latest-big-tariff-flip-flop-since-liberation-day/">Trump’s Major Tariff Flip-Flops As Administration Rolls Back China Tariffs</a>&nbsp;(Forbes)

Temu Shein

U.S. Lowers Tariffs On Parcels From China—Affecting Brands Like Temu And Shein

Starting with a $38 computer, they amassed over 50,000 downloads in the first five months.



Where there is a will, there is a way, even if it’s in a little village in South Africa’s Limpopo province.



Childhood friends Shibambu Mikhongelo Marvel (22) and Malunghelo Mathonsi (25) are defying the odds here, creating an African solution for an African problem.



In rural Gumbani, where the internet connection is as stable as the stock market, and where orange dust swirls over rondavels (traditional African circular mud homes), and innovation is a mirage, they are the brains behind the free, interactive e-learning app called NOVAR that’s gaining ground. &nbsp;



Officially released in December last year, it took two years before Mathonsi began developing NOVAR&#8217;s software, teaching himself code via YouTube tutorials and any free online resources he could get his hands on while battling &#8220;poor internet connection and frequent power cuts&#8221;, he tells FORBES AFRICA.



A R700 ($38) computer facilitated the process, which sometimes took three hours to open the necessary files.



Simultaneously, Marvel, studying Applied Mathematics at the University of Cape Town (UCT) and living on R310 ($17) a month, was in the Mother City unraveling the fundamentals to make NOVAR succeed.



&#8220;I was here at UCT researching its concept, like how this company should look like, how the app should look like, where do we go after building the app,&#8221; Marvel explains.



Split by 1,909km of South African terrain, their mission remained binding: provide free education to all of Africa&#8217;s children.



&#8220;My dream is for all learners—including my daughter–no matter where they are, to have access to quality education,&#8221; said Mathonsi.



When it is free, such an offering typically comprises basic tutorials and guides. NOVAR is lightyears beyond that.



It includes subjects such as quantum computing, AI, business, medicine, and advanced mathematics that coincide with our technologically evolving times, connecting rural Africa&#8217;s youth with the resources to not only adapt, but also solve global issues.



&#8220;NOVAR is a platform institution, even if you&#8217;re coming from a village, you can learn about AI, how to code, agriculture, mining, the economy and where the world is going, understand what&#8217;s happening on Earth and stick on top of technology. NOVAR is so flexible,&#8221; Marvel adds.



Within the app, are a medley of interactive features, including pre-recorded lessons, live learning, and learning hubs focused on high-school subjects, from mathematics to science, all of which have been manually taught, recorded, and uploaded by co-founders Marvel and Mathonsi.



There&#8217;s also a live feed enabling students to interact and discuss, along with NOVA Shorts, a Tik-Tok-like feature comprised of quick educational videos, exposing learners to worldwide innovation and on-the-go content. &nbsp;



&#8220;Learning has to be exciting,&#8221; says Marvel. &#8220;There needs to be a reason to come back and receive education in a much better projection than other people.&#8221;



NOVAR, which is available on Android and scheduled to be released on iOS in late May, has amassed over 50,000 downloads in its first five months. Even so, it’s future hangs by a thread.



With operation costs rising and no revenue stream, it was nearly wiped away in late April until South African news content creator @coolstorybru_za, shared their mission, raising R80,000 ($4,333) in 24 hours.



More than a week later, they received R193,500 ($10,482) in donations, allowing the dream to soar.



Education and Africa have a sour past, the former offered mostly to those who can afford it while much of the latter remains uneducated, undervalued, and without the resources to thrive in a society where one&#8217;s university degree is the golden ticket to a better life.



For centuries, rural Africa has lived inside a bubble where breaking the poverty line means pulling miracles from dry ground while others coast on smooth roads.



Technologically, socially, and agriculturally, the continent is experiencing an unprecedented transformation that could, for the first time, place it on equal footing with the Western world.



Modern, tech-driven cities are rising from Kigali to Cairo—but how can Africa seize this moment if its people are left behind?



Over six hundred million Africans live without electricity, and as AI continues to revolutionize industries, the need to educate rural regions on modern advancements has never been greater. If not, the damage could be irreversible.



Like decentralized finance to traditional banks, NOVAR is positioning itself to test the status quo of established schools unbothered by their inability to cater to those without the financial means or access to education.



By 2030, reportedly 42% of the world&#8217;s youth will live in Africa. This should sound alarm bells for education departments across the continent.



Experts agree that the current neglect of rural education cannot continue if Africa is to become the global force it has the potential to be.



Education shouldn&#8217;t come with a price tag. From Kakuma to Limpopo, NOVAR&#8217;s betting it can deliver what the system never did.



&#8220;Imagine having more young people in Africa with the mentality of problem-solving… who want to solve global issues,&#8221; Marvel says.



&#8220;Let&#8217;s prepare for what&#8217;s coming. What&#8217;s the next big thing on Earth…. If we want to stay relevant in this world, we have to build young people that are capable of innovating and solving the many problems this world is facing.&#8221;

It takes a village; NOVAR co-founders Shibambu Mikhongelo Marvel and Malunghelo Mathonsi; Image supplied1

Meet The Founders Of A Village-Born App That Could Educate A Continent

Good leaders and managers also need to be good communicators and effective public speakers. Some have used it as a tool for business and personal transformation and perfected it enough to be paid millions to talk.



Even in the age of screens and scrolls, nothing stirs the soul quite like a voice that knows what it’s saying. In an era of constant digital chatter, the art of public speaking is not just surviving—it’s evolving.



“People often feel alienated by technology,” says Arthur Goldstuck, a technology analyst, author, and the immediate past president of PSASA (Professional Speakers Association of Southern Africa), which offers a place to grow your voice and build a business. “Speakers restore the human touch to communication.” Goldstuck believes that while artificial intelligence can provide answers, it can’t offer the presence, empathy, or storytelling that only human speakers can. “You can learn facts from a screen,” Goldstuck explains, “but a great speaker takes you on a journey.” For him, the association is more than just a networking hub—it&#8217;s a training ground. “You learn the business of speaking, and you learn how to be a better speaker. Both are crucial.” Goldstuck is also candid about the challenges. “It’s hard to convince people to pay you to talk,” he says. “But once you’ve defined your value, once you’ve honed your expertise—and your delivery—the doors begin to open.” He has seen the profession take off in South Africa, and while he’s optimistic about its growth across the continent, he notes that infrastructure, budgets, and formal recognition of speaking as a profession remain hurdles in many regions. That said, breaking into the industry is possible—even without credentials—as long as one brings heart, hustle, and the ability to own a room. Just ask Billy Selekane. “When I was a few seconds old and the doctor smacked the hell out of me to check if I was alive,” Selekane jokes, “that’s when I started speaking.” And he’s never stopped. Today, he speaks around the world and earns millions doing it. The motivational powerhouse, who grew up in Tembisa on the East Rand in South Africa, turned school MC duties into a globe-spanning career built on grit, charisma, and relentless self-belief. From early on, Selekane knew his voice would take him places. “Even in high school, I believed that speaking was my passport to the world.” Selekane developed his own framework, ‘From Barefoot to Sneaker Nation’, a blueprint for personal transformation drawn from his own life. With no formal qualifications, he hustled his way into the corporate world, eventually earning himself a doctorate in Leadership and Management from Logos University in the United States, built his brand, and turned stages into strategy. “Speak less, get paid more,” he says. “This isn’t about ego—it’s about knowing your value.” He’s unapologetic about treating speaking as a business. “Too many people want the spotlight without building the structure behind it. But if you treat it like a business, it can pay like one.” “Your voice isn’t just sound—it’s your signature,” Selekane adds. “That’s what people remember.” Few understand the transformative power of voice quite like Stef du Plessis. Founder of PSASA, du Plessis has spent his career helping organizations shift culture from the inside out. His ‘Unwritten Ground Rules’ (UGRs) model has been implemented in more than 50 countries and has reshaped how companies and institutions operate. Former President Thabo Mbeki once remarked that du Plessis’s work “has nation-building potential”. Quietly impactful and focused more on results than recognition, du Plessis helped shape the very DNA of PSASA. The association’s highest honor, launched by Selekane when he was president, the Stef du Plessis Founder’s Award, is named after him—and it’s a fitting tribute. “It’s not about being the star of the show,” du Plessis says. “It’s about leaving people with insights and strategies that enable personal and business transformation. That can also impact a community, and even a country.” While South Africa has embraced public speaking as a professional pursuit, the rest of the continent is still catching up. Goldstuck believes markets like Nigeria are ripe for expansion. “The appetite is there,” Goldstuck says. “There’s so much talent—it just needs structure.” For aspiring speakers across Africa, the message from all three is clear: start where you are. Speak for free if you must—especially to gain experience, sharpen your voice, and serve meaningful causes. But once you’ve found your footing, know your worth. Exposure is valuable, but it shouldn’t be the only thing you walk away with. Define your value. Learn the craft. And above all, surround yourself with people who will challenge you to grow.

Speaker at business conference, corporate presentation, workshop, coaching training, news conference, company meeting, public or political event. Public speaking concept.

Want To Own A Room With Your Voice? Let’s Talk About The Speaking Business In Africa

The passion for rugby is alive and well, from Cape Town to Cairo. The game is being developed too in countries such as Uganda, the Ivory Coast, Ghana and Madagascar. But what else needs to be done?



Rugby Africa president Herbert Mensah is leading what he terms a “change in mindset” that he hopes will boost the development mandate of the organization and grow the game on the continent outside of powerhouse South Africa.



The Springboks are a global brand and household name for fans around the world, but while Namibia have been regular qualifiers for the Rugby World Cup and Kenya have a competitive team on the Sevens circuit, the rest of the continent lags well behind.



It will be no surprise that this largely comes down to funding, but Mensah is emphatic that the passion for the game is alive and well from Cape Town to Cairo.



Rugby Africa is an administrative body under World Rugby that is tasked with growing the game on the continent but does so on a shoestring budget.



“A country like England, for example, receives over 150 million pounds a year to develop the game and to prepare their national teams to be able to compete at the highest levels,” Mensah told FORBES AFRICA. “Africa, minus South Africa, receives two-point-something million dollars a year.



“And you have got to run multiple competitions. You have got to develop the game. That is the reason why Rugby Africa hasn&#8217;t got age grade competitions.



“We are trying to develop greater partnerships and associations with governments, persuading them that even though rugby is not a political tool (on the continent) as football is, the values of rugby mean building a better society.



“Rugby provides something that other sports do not. Some countries, like Morocco, have responded well. I stand to be corrected, but over 1% of GDP in Morocco is being allocated for sports, including at grassroots level. Uganda, Ivory Coast, Ghana have invested massively in the development of the game.”



Mensah points to Madagascar as an example of the popularity of rugby in so-called non-traditional playing nations.



“You can go and watch a domestic match in Madagascar and have 30,000 people in the stadium. What would happen if you are now able to invest a little bit more in Madagascar and in its rugby infrastructure?



“There are countries in Africa that play a test match once every two years. You can begin to immediately see that disparity, but there is great enthusiasm.”



Mensah, who has been in his role for the last two years, says the status quo cannot remain, and it starts with his own organization.



“We need to be creative. Think out of the box. We need to get governments more involved. We need to work with the Olympic solidarity fund to make more money available.



“We are not a third world country out there saying, ‘give me, give me, you owe me’. Because the commercial reality is, unless you have a contract, nobody owes you anything.



“So, get out there and show that you&#8217;ve got something to give. Sometimes you need to plant the seed, the right seed, in order to sow and reap the right crop, and that&#8217;s what we&#8217;re trying to do.”

Uganda vs Burkina Faso; image supplied

What Needs To Be Done To Invest In Rugby Across Africa

In 1930, British economist John Maynard Keynes predicted that by 2030, technological advancements would reduce the average workweek to just 15 hours.



His logic seemed solid. Between 1900 and 1930, United States’ GDP quadrupled, while the average workweek shrank from 53 to 47 hours. Clearly, advancements in agriculture, steam power, manufacturing, electricity, transportation, and communication had made work more productive. It was only natural for Keynes to assume this trend would continue—perhaps even accelerate—as new inventions allowed us to produce more with less.



But here we are, nearly a century later, and I don’t know about you, but I’m still waiting. And judging by the data, millions of others are too. For example, in Europe, the average workweek is 37 hours. In India, it’s 47 hours. And if you live in the United Arab Emirates, it’s reportedly over 50 hours.



So, what did Keynes get wrong?



Well for one thing, Keynes likely assumed that once people had enough, they would work less. But history has proven otherwise: we always want more.&nbsp;



More wealth. More travel. More education. More entertainment. More convenience. More homes. More computing power. More screens. More luxury. More speed. More food. More clothes. More time. More everything.&nbsp;



It doesn’t matter if we earn $2, $20,000, or even $200,000 a day—we always find ways to want more. And while newer innovations in energy, communication, and the internet have helped feed this demand, Keynes underestimated just how much labor would still be required to service it—especially with a global population which is now over 8 billion people.



Keynes also failed to account for the ripple effects of new technology. Take the automobile. It didn’t just make transportation faster—it spawned entirely new industries. Mass manufacturing created millions of jobs in car production. Gas stations, repair shops, and parking garages emerged. City planning changed to accommodate roads and highways. Financial services jumped in, offering vehicle loans and insurance. Taxis evolved into ride-sharing platforms, launching the gig economy.&nbsp;



Cars then became trucks, allowing commerce to expand globally.&nbsp;



Even the environmental damage caused by cars has created an industry of its own, from carbon offset programs to electric vehicle production.&nbsp;



You could therefore argue that the invention of the combustion engine has easily led to the creation of hundreds of millions of new jobs over the last century.



New jobs, which all require workers to spend more than 15 hours a week serving their employers.



And this pattern is not new. The invention of the printing press in 1440 created new jobs in publishing, journalism, education, advertising, and marketing. And today, social media platforms have allowed tens of millions of people to generate income by creating niche content that appeals to every walk of life on the planet.&nbsp;



But my question is this: will the combination of AI and robotics catalyze the same job creation cycle?



If history is any guide, we may not be able predict future jobs, but we should be confident that we will create them none the less.



Just as people in the 1930s couldn’t have imagined data scientists, app developers, or AI ethicists, we can’t yet predict the jobs that AI will create in the next 30 years.&nbsp;



But there is another possibility. What if Keynes was right all along—just a century too early?



Because AI and robotics aren’t like past technologies.&nbsp;



They’re not tools that only make humans more productive.&nbsp;



They’re tools that, if current development trends continue, soon won’t need humans at all.



Just yesterday, I read about a venture capital firm run entirely by AI. It analyzed startups, conducted interviews, and independently decided to invest $100,000—all with minimal human oversight.&nbsp;



Then, I watched a video of two humanoid robots collaborating in a kitchen, self-learning how to prepare and cook a meal.



This is different.&nbsp;



Every past technology—from the steam engine to the internet—still required people to operate, manage, and expand it. But AI isn’t just enhancing human productivity, it’s replacing humans altogether.



Which raises the possibility not that Keynes was right and we’ll eventually get our promised 15-hour workweek. Rather that we’ll be lucky to work at all.

Internet technology and people’s networks use AI to help with work, AI Learning or artificial intelligence in business and modern technology, AI technology in everyday life.

Expert-Speak: Will AI Finally Give Us The 15-Hour Workweek?

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



The U.S. and China on Monday announced they would significantly cut back tariffs placed on each other&#8217;s goods for at least 90 days as both sides plan to continue negotiations on a trade deal, triggering a major surge in U.S. stock futures and global markets.



<h2 class="wp-block-heading">Key Facts</h2>



As per a&nbsp;<a href="https://www.whitehouse.gov/briefings-statements/2025/05/joint-statement-on-u-s-china-economic-and-trade-meeting-in-geneva/" rel="noreferrer noopener" target="_blank">joint statement</a>&nbsp;issued by both sides, the U.S. has agreed to lower President Donald Trump’s “reciprocal tariffs” on China from 125% to 10%, while China has agreed to do the same.



A separate 20% tariff on Chinese goods that the president imposed over what he said was China’s alleged role in fanning the fentanyl crisis in the U.S. will remain in place, which means the total levy on Chinese goods will drop from 145% to 30%.



China also agreed to roll back some of the non-tariff measures its implemented in retaliation against U.S. tariffs—details for which are pending but could include a roll back on certain rare earth export restrictions.



While announcing the tariff pause in a press conference in Geneva, where the two sides were holding trade negotiations, Treasury Secretary Scott Bessent said both sides agreed that “we have a shared interest” and “neither side wanted a decoupling” of trade.



Bessent said the very high tariffs imposed by both sides was equivalent to a trade embargo and “neither side wants that” and rather the U.S. wants “more balanced trade.”



U.S. Trade Representative Jamieson Greer noted that the rollback does not cover “any sector-specific tariffs imposed globally&#8230;So some Chinese goods would still face a higher levy.”



<h2 class="wp-block-heading">What Have Chinese Officials Said About The Tariff Pause And Talks?</h2>



The Chinese commerce ministry&nbsp;<a href="http://www.news.cn/world/20250512/14b4cd0d67a7477f96b86b1ae08d4fdb/c.html" rel="noreferrer noopener" target="_blank">issued a statement</a>&nbsp;on the negotiations saying the high U.S. tariffs had “seriously damaged normal bilateral economic and trade exchanges and seriously undermined the international economic and trade order.” The ministry said the talks between the two sides in Geneva were “constructive” and the tariff reduction was “in line with the expectations of producers and consumers in both countries” and also in the best interests of both countries. Beijing said both sides have agreed to “mutually beneficial cooperation, maintain the healthy, stable and sustainable development of China-US economic and trade relations, and jointly inject more certainty and stability into the world economy.”



<h2 class="wp-block-heading">How Have Markets Reacted To The Tariff Reduction?</h2>



Chinese markets and U.S. stock futures cheered the announcement with S&amp;P 500 futures rising 2.54% to 5,822 points and Dow Futures rising 1.97% to 42,136 points. The tech-heavy Nasdaq Futures also surged 3.31% to 20,828 points. The Hong Kong Stock Exchange’s Hang Seng Index ended the day 3.02% up while the Shanghai Composite Index jumped 0.82% as both key indexes erased all their loses since Trump’s “Liberation Day” tariff announcement.



<h2 class="wp-block-heading">What To Watch For</h2>



As per the joint statement, both sides have agreed to “establish a mechanism to continue discussions about economic and trade relations.” Bessent and Greer will represent the U.S. side in these discussions, while Vice Premier He Lifeng will lead the Chinese side. These future talks may be held alternately in China and the U.S. or in a third country that both sides agree upon.



<h2 class="wp-block-heading">Key Background</h2>



<a href="https://www.forbes.com/sites/mollybohannon/2025/05/11/white-house-says-it-reached-a-trade-deal-with-china-though-details-remain-unknown/">Earlier on Sunday</a>, the White House issued a statement titled “U.S. Announces China Trade Deal in Geneva,” that did not offer any additional details. In the statement, Bessent was quoted as saying “we made substantial progress between the United States and China in the very important trade talks.” A comment by Greer was also cited in the&nbsp;<a href="https://www.whitehouse.gov/articles/2025/05/u-s-announces-china-trade-deal-in-geneva/" rel="noreferrer noopener" target="_blank">statement</a>, which said: “It’s important to understand how quickly we were able to come to agreement, which reflects that perhaps the differences were not so large as maybe thought.” U.S. and Chinese trade officials met in Geneva over the weekend for the first time since Trump announced sweeping “reciprocal tariffs” on several countries including China. The 34% levy on China—on top of the previously implemented 20% fentanyl tariffs—soon escalated into a full blown trade war with both sides hitting each other with rising tit-for-tat tariffs.



<h2 class="wp-block-heading">Further Reading</h2>



<a href="https://www.forbes.com/sites/mollybohannon/2025/05/11/white-house-says-it-reached-a-trade-deal-with-china-though-details-remain-unknown/">White House Says It Reached A Trade Deal With China—Though Details Remain Unknown</a>&nbsp;(Forbes)

Donald Trump Attends Roundtable Discussion On Threat Of China On U.S. Agriculture

US And China Agree To Roll Back Most Tariffs For 90 Days As Negotiations Continue

The wearable tech space is transforming with smart rings emerging as a promising new category since the release of the Samsung Galaxy Ring.



The smart ring arrived in South Africa in April with a price tag of ZAR8,000 ($438), making it the first mainstream launch by a smartphone brand.



It is reported that the South Korean smartphone maker had to increase production from 400,000 units to 1 million, based on pre-order numbers.



Until now, South Africans could get their hands on the lesser-known NexRing for under ZAR5,000 ($274), while cheaper options can be found online. Apple is also rumored to be developing a smart ring.



The Galaxy Ring works the way a typical smart ring would; it tracks health and wellbeing, like sleep, heart rate, blood oxygen, skin temperature, stress levels and select fitness activities.



Meanwhile, South African company Vezo Pay introduced a chargeless smart ring focused on payments, which supports Visa and Mastercard and is gradually rolling out to more banks beyond Nedbank.



According to the International Data Corporation (IDC), the smart ring space is currently dominated by specialists like Oura and Ultrahuman, but now larger brands are beginning to compete by incorporating rings into their existing ecosystems of devices.



The research firm believes the wearables market is evolving, with new form factors and innovative products driving growth. As consumer preferences shift, vendors will need to adapt their strategies to stay competitive in this dynamic landscape, it says.



Jitesh Ubrani, Research Manager for Mobility and Consumer Device Trackers at IDC, says: “The rate of technological innovation among smartwatches along with consumer interest has certainly slowed in recent quarters leaving vendors to innovate across price points instead.”



“Smart rings and glasses without displays are going to be the most interesting categories in the coming quarters as new entrants and new use cases help these products outshine other wearables,” says Ubrani.



The wildly popular Ray-Ban Meta smart glasses sold two million pairs by February 2025, according to its financial year end results, with plans to increase production to 10 million units by 2026.



According to Horizon Grand View Research, the smart ring market in the Middle East and Africa region is expected to reach a projected revenue of $46 million by 2030.



It adds that payment is the most lucrative application segment registering the fastest growth during the forecast period.



Smart rings are indeed promising and could become indispensable tools for personal health insights and effortless financial interactions.

Tracking health and wellbeing, like sleep, heart rate, blood oxygen, skin temperature, stress levels and select fitness activities; Photo supplied

From Tracking Better Sleep To Payments, Smart Rings Are Ringing In Change In South Africa’s Wearable Tech Space

South African golfer Casandra Alexander has the ambition to be the best in the world in the coming years and given her form over the last few seasons, you would be foolish to rule it out.



Alexander, 25, won the 2025 Investec Order of Merit after sizzling on the home circuit, and also tied for seventh at the prestigious 2024 Women’s Open in the United Kingdom.



The improvement in her game since 2023 has been stark and there is no doubt she is on a rapid upward trajectory. Crucially, she has the ambition to not just settle for home success, but take her talent global.



“I&#8217;m not number one in the world now, but if I keep doing what I&#8217;m doing and working hard, it could potentially be a possibility in the future,” Alexander told FORBES AFRICA.



She started playing around the age of 10 when a family friend took her to a local golf club and the youngster was hooked.



“I played a lot of sports growing up from about the age of eight and I loved all of them. Anything with a ball I was pretty interested in,” she says.



“Golf was just another sport at that stage, but it kind of stuck because I was pretty good at it from the start.



“When I got to high school, in my final years I only played hockey and golf. In the end I was better at hockey, so I decided to go to golf because I wanted to push myself and be better. I am a little bit stubborn like that.”



She turned professional in 2019 but her early career was stalled by the Covid-19 pandemic. But once up and running on the Ladies European Tour, she began to get rewarded.



Alexander likens life on the tour to gambling, where there is no guarantee you will come close to recouping the money you have to spend to play.



“You have to take risks in order to get what you want. And I did that,” she says. “When my caddie (Charles Moemedi) and I came to Europe, I said to him, ‘I have enough money to pay for four tournaments, and if we don&#8217;t make any money, you and I are both without a job’.



“And luckily, in those four weeks, we did extremely well. It was a big investment and a big risk on my end. People think getting your tour card is the tough part, but when you have the card, you also need the money to start.



“To play on the tour costs me R1.5-million ($82,000) a year, which means I need to make more than that just to break even. Never mind household running expenses and just living in general. That&#8217;s just the golf costs.



“So it’s risky. I say golf is like gambling. You can literally put all this money in and make zero. Or you can put all this money in and make a lot. And it is addictive, just like gambling is.”



Golf may be seen as a solo sport, but Alexander believes she would not be where she is today without the team behind her.



“I call Charles my second husband, we spend so much time together. He is family. He has carried for me from the start, all the way to Europe, to the Majors and the US Open.



“My mental coach is Mark Fairbank. We also work very closely together. He has worked with me since I went to Q School (qualifying school), and we&#8217;ve done great work. He&#8217;s probably one of the last guys I&#8217;d fire if I ever had to fire my team!



“My golf coach is Grant Veenstra, probably the best in the country, if not top 10 in the world. I&#8217;ve been working with him for the last two years. He&#8217;s a great guy and has changed my whole game around.



“Then obviously my biggest supporter is my husband (professional body builder Adrian Alexander). He doesn&#8217;t have a title, like a trainer or anything, but he&#8217;s probably the rock that keeps everything going.”

Casandra Alexander; photo supplied

‘Golf Is Like Gambling’: South African Golfer On Taking Risks And Aiming For Global Success

If he’d never given away a dime or sold a share of the software giant, Gates would have nearly 10 times more to give away.



On Thursday, Bill Gates publicly reiterated that he’ll give away almost all of his remaining wealth and wind down the namesake charitable foundation he cofounded with his ex-wife, Melinda French Gates, by the end of 2045. Fueled by Microsoft’s soaring stock price and dividends, Bill and Melinda have already poured a combined $60.2 billion into the Gates Foundation since its founding in 2000, helping cement their status as America’s second-biggest philanthropists. Even after their generosity, they’re still the 13th and 56th richest people in the world, worth an estimated $113 billion and $30.4 billion, respectively



But what if Bill and Melinda never discovered philanthropy–and never sold a share of Microsoft? They’d be worth $1.5 trillion combined,&nbsp;Forbes&nbsp;figures, and Bill would likely be the world’s first trillionaire, with a $1.2 trillion fortune, even after his 2021 divorce. That’s more than triple the net worth of Elon Musk, the richest person ever (estimated net worth: $388 billion, though he peaked at $464 billion in December). Melinda, meanwhile, would be worth an estimated $300 billion, assuming she would’ve gotten the same estimated percentage of the couple’s assets in the divorce, which would make her the third richest person in the world after Bill and Musk .



Just before he took Microsoft public in 1986, Bill owned 11.2 million shares of the company, representing a 49% stake worth around $200 million based on the IPO price. If he’d held onto all of that stock for the next four decades, he and Melinda would now own 3.2 billion shares combined after stock splits, giving them a 43% stake in Microsoft worth $1.4 trillion. The former couple would also have another $100 billion or so of cash from dividends after-tax, according to&nbsp;Forbes&nbsp;estimates. That cash pile alone is higher than the entire net worths of all but 18 of the world’s more than 3,000 billionaires.



In reality, Bill did not hold onto his Microsoft holdings. Instead he sold and gave them away steadily. Today his Microsoft ownership has shrunk to an estimated 0.9% stake worth only $28 billion (or a quarter of his net worth), as he and his Cascade Investments family office have broadly diversified what remains of his still sizable portfolio after all of his charitable giving and the divorce. Among his largest known holdings: waste disposal company Republic Services, tractor giant Deere &amp; Co and Four Seasons Hotels. Melinda, meanwhile, is estimated to own 380,000 Microsoft shares worth only $170 million (or less than 1% of her net worth). Neither Bill nor Melinda have shown up in Microsoft’s SEC filings since Bill stepped down from the board in 2020 after retiring as CEO to focus on his philanthropy in 2008.



Of course, this alternate reality in which Bill and Melinda hoarded all their Microsoft shares would have deprived the world of a lot of good. Through the Bill and Melinda Gates Foundation, which was renamed the Gates Foundation after Melinda resigned as co-chair in June 2024, the couple has doled out an estimated $47.7 billion to date to charitable organizations focused on health and poverty alleviation. That’s more than anyone other than Warren Buffett, who has given away an estimated $62 billion so far, mostly through the Gates Foundation; Buffett was long believed to have earmarked much of his wealth to the Gates Foundation, but&nbsp;<a href="https://www.forbes.com/sites/lindseychoo/2024/07/15/meet-the-most-powerful-philanthropists-in-america-warren-buffetts-kids/">wrote in a letter to Berkshire Hathaway shareholders in November 2023</a>&nbsp;that a charitable trust overseen by his three children will be the sole beneficiary of his estate. Then last June, Buffett told the&nbsp;<a href="https://www.wsj.com/finance/warren-buffett-gives-us-a-preview-of-his-will-419ad46d" rel="noreferrer noopener" target="_blank">Wall Street Journal</a>&nbsp;that “The Gates Foundation has no money coming after my death.”



Melinda has redrawn her philanthropic plans too, pouring $674 million into a new foundation called Pivotal Philanthropies in 2022. Then last June, after committing to donate $1 billion over three years to support womens’ and girls’ rights a month earlier, she announced that she would be getting another $12.5 billion for philanthropy as part of her decision to resign as co-chair of the Gates Foundation.



Both Bill and Melinda remain set on fulfilling the Giving Pledge, which they cofounded with Buffett in 2010, in order to encourage other wealthy individuals to give away at least half of their wealth before they die or in their will.



“My parents taught me what generosity looked like through how they used their time and resources,” Bill wrote in his Giving Pledge Letter. “When the time came to choose what to do with my wealth from Microsoft, I knew I had to follow their example. I decided that the vast majority of my wealth would go toward helping as many people as possible.”



Added Melinda in her Giving Pledge Letter: “I recognize the absurdity of so much wealth being concentrated in the hands of one person, and I believe the only responsible thing to do with a fortune this size is give it away—as thoughtfully and impactfully as possible.”

2019 New York Times Dealbook

Bill Gates Would Be Worth A Lot More Than Elon Musk If He’d Kept His Microsoft Stock

We are entering an era where technology no longer waits to be engaged; it anticipates, adapts, and quietly integrates into our surroundings. This is the promise of <a href="https://www.techtarget.com/searchenterpriseai/definition/ambient-intelligence-AmI">ambient intelligence</a>: environments embedded with sensors, artificial intelligence (AI), and the Internet of Things (IoT) designed to respond intuitively to human presence and context. Once confined to science fiction, ambient intelligence is becoming a reality.



Yet, amidst this excitement, a critical question emerges: who steers this silent revolution?



The appeal of ambient intelligence is obvious. It promises seamless personalization, proactive healthcare, innovative financial services, and responsive urban systems. But its ubiquity makes it so consequential and dangerous if left unchecked. These systems operate invisibly, powered by continuous data collection and autonomous decision-making, often beyond the user’s awareness or control.



At the core of ambient intelligence lies an insatiable appetite for data: intimate, behavioral, biometric, and contextual. This raises profound concerns about surveillance, consent, and data misuse. Can individuals meaningfully consent to data collection when the system is embedded in walls, furniture, or clothing? And how do we ensure that algorithmic decisions, especially in sensitive areas like healthcare or public services, do not entrench bias or reinforce inequity?



Even more pressing are the structural vulnerabilities. Ambient intelligence systems&#8217; interconnectedness makes them attractive cyberattack targets, potentially compromising entire communities. Moreover, as these systems make increasingly consequential decisions, they raise more profound questions about human agency. Does convenience come at the cost of autonomy? Are we outsourcing not just tasks but judgment itself?



The need for governing ambient intelligence has never been more urgent. But this must not be mistaken for opposition to innovation. It is about building a responsible foundation that ensures ambient intelligence serves society rather than destabilizing it.



To responsibly harness ambient intelligence’s transformative potential, we must develop it in a framework guided by four pillars: transparency, accountability, inclusivity, and sustainability.



Transparency must be a non-negotiable principle. As ambient intelligence systems operate invisibly in our environments, collecting data, making decisions, and influencing behavior, people must have the right to understand how these systems work. This includes clarifying what data is being collected, how it is processed, and how decisions are reached. Without such openness, trust cannot be built, and individuals are left vulnerable to opaque systems that shape their lives in unseen ways.



<a href="https://sloanreview.mit.edu/article/how-to-hold-general-purpose-ai-producers-accountable/">Accountability</a> is equally vital. Developers, operators, and data custodians must be answerable for the technologies they create and deploy. When an ambient intelligence system fails by amplifying bias, violating privacy, or causing harm, mechanisms must be established to assign responsibility and redress. Governance frameworks must ensure that ethical and legal obligations are not abstract ideals but enforceable standards.



<a href="https://www.wsg.ac.za/news/inclusivity-must-be-heart-ai-development-professor-marwala">Inclusivity</a> must guide the distribution of ambient intelligence’s benefits. These technologies can enhance lives, but only if access is equitable. Ambient intelligence should not entrench digital divides by privileging wealthier or more connected populations. Instead, it should be deployed to empower underserved communities and promote broader social and economic inclusion.



Finally, <a href="https://link.springer.com/chapter/10.1007/978-3-319-23485-4_4">sustainability</a> must be integrated into the core of ambient intelligence design. The infrastructure supporting ubiquitous computing, data centers, networks, and embedded devices carries significant environmental costs. As we scale these technologies, we must do so with an eye on their carbon footprint, material demands, and lifecycle impacts. Ensuring that ambient intelligence contributes to a smarter world must not come at the expense of a livable planet.



These four pillars are not merely policy suggestions but the ethical pillars necessary to ensure that ambient intelligence serves humanity rather than silently subvert it.



Implementing these principles requires more than good intentions. We must update and extend data protection laws to address continuous and ambient data flows. Ethical AI guidelines, such as those developed by the <a href="https://www.oecd.org/en/topics/sub-issues/ai-principles.html#:~:text=AI%20systems%20should%20be%20robust,safety%20and%2For%20security%20risks.">OECD</a>, must be enforced through binding standards, not advisory codes.



Interoperability must be mandated to prevent monopolistic lock-in and promote openness. To address unique risks, domain-specific rules must be developed for healthcare, finance, education, and other applications.



Institutional architecture matters. Independent oversight bodies, global regulatory harmonization, and public-private partnerships are essential. Crucially, we must invest in capacity-building, equipping policymakers, developers, and users with the skills to engage meaningfully with these systems.



The path forward is complex. But failure to act risks embedding opacity, inequity, and insecurity into the very infrastructure of our lives. Ambient intelligence&#8217;s governance is not just a technical necessity but a democratic and ethical imperative.



We must ensure that ambient intelligence&#8217;s invisible hand is not directionless. It needs a guiding compass rooted in rights, ethics, and shared global values. We can only shape an intelligent and just future through collaborative, cross-sectoral governance. It is time to act before this intelligence becomes so ambient that it slips beyond scrutiny.

Big data chart on city backdrop.Trade technology, and investment analysis.Business development, financial plan and strategy.

Expert-Speak: Why The Need For Governing Ambient Intelligence Has Never Been More Urgent

There are four clubs from Africa among the 32 teams that have qualified for the FIFA Club World Cup, which will kick off on June 15.



World football’s governing body FIFA are hoping the new-look Club World Cup, which will be hosted in the United States next month, will mark a new era for the game and develop a four-yearly competition that has as much relevance and reverence as the World Cup for national teams.



Africa will play a part in the new vision: there are four clubs from the continent among the 32 teams that have qualified for the tournament, which will kick off on June 15.



It includes Mamelodi Sundowns, who are through to this season’s African Champions League final later in May and will be hoping to make some impact on the new-look Club World Cup.



It is a momentous opportunity for a South African side, rubbing shoulders with the most successful club sides from across the globe over the last years.



Egypt’s Al Ahly, Wydad Casablanca from Morocco and Esperance of Tunisia are the other three African clubs who have qualified on the basis of their performances in the last four years of the African Champions League competition.



In their group, Sundowns have been drawn against Borussia Dortmund, who were runners-up in the UEFA Champions League last season; Rio de Janeiro giants Fluminense and Ulsan from South Korea.



It will be something of an upset if the Pretoria club progress past the first stage but even if they return home without a win, the tournament promises to be a massive learning curve and its financial spin off means Sundowns are set to continue their long-standing hegemony on the local scene.



They will reportedly receive a minimum of $9-million for participating in the tournament, with more money on offer for any victories they might achieve; $2 million is paid for winning group stage games, $7.5 million for playing in the round of 16 and $40 million to the team that wins the final at MetLife Stadium near New York on July 13.



FIFA aims to share $250 million among clubs worldwide who did not qualify for the tournament. But it is not yet clear how many clubs will be paid, or how much they will get.



The $1 billion Club World Cup prize pot is more than double the $440 million that FIFA shared among the 32 federations whose teams played at the 2022 World Cup in Qatar, further proof of their desire to make this new project work.



It is massive money for Sundowns to continue to buy the best players and extend their record-breaking run of championship success in South Africa’s Premier Soccer League.

Al Ahly v Mamelodi Sundowns – CAF Champions League

Money And Momentous Opportunity For Africa In New-Look Football Tourney

For countries like Nigeria—the continent’s most populous nation—and Ghana, which has made notable progress in maternal health but still struggles with regional disparities, such funds are crucial.



A new alliance has launched the Beginnings Fund, a $500 million initiative aiming to reduce maternal and newborn deaths across Africa.



Over the next five years, the Fund will invest in up to 10 African countries: Nigeria, Ghana, Ethiopia, Kenya, Malawi, Lesotho, Rwanda, Tanzania, Uganda, and Zimbabwe.



While 90% of the targeted funding has already been raised, Alice Kang’ethe, CEO of the Beginnings Fund, tells FORBES AFRICA: “Discussions on the level of partnership with individual countries are currently ongoing.”



Each year, an estimated 178,000 women and 1 million newborns die from preventable causes in Africa, alongside nearly 1 million stillbirths. The region remains the epicenter of this crisis, accounting for 70% of global maternal deaths, and newborn deaths within the first month of life remain the region’s leading cause of child mortality.



Without focused and sustained investment, countries like Nigeria and Ghana risk falling short of the United Nations Sustainable Development Goals (SDGs) for maternal and child health by 2030.



The Beginnings Fund is a coalition-led effort, supported by leading global philanthropies including the Mohamed bin Zayed Foundation for Humanity, the Children’s Investment Fund Foundation (CIFF), the Gates Foundation, Delta Philanthropies, The ELMA Foundation, and others.



There is also an additional $100 million earmarked for direct initiatives that align with the Fund’s mission.



In Nigeria, where maternal mortality remains among the highest globally—estimated at 512 deaths per 100,000 live births (as of 2018)—the Fund’s support could help bridge the resource and personnel gaps plaguing public health facilities. Similarly, Ghana, while having reduced maternal mortality by nearly half since 2000, still faces systemic challenges in rural regions where healthcare access remains limited.



At the heart of the Fund’s model is government ownership. According to Kang’ethe, the initiative is not just about delivering aid—it’s about “fostering long-term financial responsibility.”



This includes ensuring governments can gradually absorb the cost of expanded health workforces and maintain improved systems beyond the Fund’s timeline.



“Sustainability has been a core principle from the outset,” Kang’ethe notes. “We explicitly aim to strengthen—not substitute—existing systems.”

Mother’s hand holds black baby’s leg close-up

Nigeria, Ghana Among Beneficiaries Of New $500 Million Fund Targeting Maternal And Newborn Survival

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



Robert Francis Prevost, who was selected as the Catholic Church’s first American pope Thursday and took the name Leo XIV, has a family history that some were celebrating as uniquely diverse, with one genealogist claiming he has ties to “free people of color” in New Orleans.



<h2 class="wp-block-heading" id="h-key-facts">Key Facts</h2>



The maternal side of Pope Leo XIV’s family can be traced back to at least the 1840s among “free people of color” in New Orleans, according to Jari C. Honora, a genealogist with the Historic New Orleans Collection, a research center documenting the city’s history.



Rep. Troy Carter, D-La., who represents New Orleans, also released a statement Thursday highlighting Pope Leo XIV’s “ancestral ties to our Creole and Haitian families,” saying he was proud “As a Black man” and “a proud son of New Orleans.”



Pope Leo XIV’s maternal grandparents, along with his mother’s older siblings, were “identified in records as Black or mulatto,” Honora told Forbes, but the family “passed … into a white racial identity” when they relocated to Chicago, where the pope’s mother—Mildred Martinez—was born in 1912.



The pope’s grandparents resided in New Orleans’ Seventh Ward, an historically Black neighborhood, before moving to Chicago, Honora said.



Pope Leo XIV was born in Chicago on Sept. 14, 1955 to Martinez and&nbsp;<a href="https://www.newspapers.com/article/chicago-tribune-obituary-for-louis-m-pr/171963827/" rel="noreferrer noopener" target="_blank">Louis Prevost</a>, a World War II veteran of French and Italian descent.



Martinez’s descent has been widely reported as Spanish, and Pope Leo XIV does not appear to have made major public statements regarding Creole heritage—the Diocese of Chiclayo, where Pope Leo XIV served as bishop between 2015 and 2023, did not immediately respond to a request for comment from Forbes.



<h2 class="wp-block-heading" id="h-what-do-records-show-about-pope-leo-xiv-s-family">What Do Records Show About Pope Leo Xiv’s Family?</h2>



Honora said in a&nbsp;<a href="https://www.facebook.com/share/p/15TEXqKECE/" rel="noreferrer noopener" target="_blank">Facebook post</a>&nbsp;Thursday “Our Holy Father, Pope Leo XIV, has Creole of color roots from New Orleans on his mother&#8217;s side!” He told&nbsp;<a href="https://www.nola.com/news/first-american-pope-roots-new-orleans/article_3c7bfdf1-8f69-452e-af01-90aa012366df.html#tncms-source=featured-top" rel="noreferrer noopener" target="_blank">The Times-Picayune</a>&nbsp;a marriage license shows Joseph Martinez and Louise Baquié, the pope’s grandparents, married in 1887 at Our Lady of Sacred Heart church in New Orleans. Those records show Joseph Martinez listed Haiti as his birthplace, Honora told the newspaper. He added the family was listed as living at 1933 North Prieur St. in the city’s Seventh Ward, an area that was demolished during the construction of the Claiborne Avenue overpass, which&nbsp;<a href="https://www.bloomberg.com/news/features/2023-04-12/fate-of-a-controversial-highway-still-divides-new-orleans" rel="noreferrer noopener" target="_blank">critics say</a>&nbsp;significantly disrupted vibrant Black neighborhoods in the city.



<h2 class="wp-block-heading" id="h-key-background">Key Background</h2>



Pope Leo XIV, 69, was born in Chicago to his mother, Mildred Martinez, a librarian, and his father, Louis Prevost, a World War II Navy veteran and school superintendent. He also has two brothers, Louis Martín and John Joseph. He studied mathematics at Villanova University and earned a graduate degree in divinity from the Catholic Theological Union of Chicago. Ordained in 1982, his religious career took him to Rome and Peru, where he was naturalized as a citizen in 2014 around the same time the late Pope Francis appointed him apostolic administrator of the Diocese of Chiclayo, where he became bishop. He took his position in the Vatican overseeing the appointment of new bishops in 2023, the same year he was made a cardinal. Pope Leo was elected following four ballots on the papal conclave’s second day of voting. He is viewed as more of a centrist than Francis, and has been an advocate for migrants and the poor, with possible recent social media posts suggesting he has been critical of President Trump’s actions toward migrants.



<h2 class="wp-block-heading" id="h-further-reading">Further Reading</h2>



<a href="https://www.forbes.com/sites/conormurray/2025/05/08/who-is-robert-francis-prevost-what-we-know-about-pope-leo-xiv-the-first-american-pope/">Who Is Robert Francis Prevost? What We Know About Pope Leo XIV—The First American Pope.</a>&nbsp;(Forbes)



<a href="https://www.nola.com/news/first-american-pope-roots-new-orleans/article_3c7bfdf1-8f69-452e-af01-90aa012366df.html#tncms-source=featured-top" rel="noreferrer noopener" target="_blank">Pope Leo XIV has roots in New Orleans&#8217; 7th Ward. See his family lineage and history.</a>&nbsp;(The Times-Picayune)



<a href="https://www.forbes.com/sites/saradorn/2025/05/08/tweets-apparently-showing-pope-leo-xiv-criticizing-trump-resurface-heres-what-to-know/">Tweets Apparently Showing Pope Leo XIV Criticizing Trump Resurface—Here’s What To Know</a>&nbsp;(Forbes)

World Reacts To Election Of Pope Leo XIV

Pope Leo XIV’s Ancestry Celebrated: Congressman, Genealogist Tout Possible Creole, Black Roots

As winter approaches and the mercury dips, business leaders are bracing for the usual seasonal discomfort–cold mornings, foggy windscreens, and the annual return of thermal underwear.



But while many seek warmth and shelter, a growing number are doing quite the opposite.



They’re flinging themselves into tubs of freezing water–on purpose.



Cold plunging–otherwise known as ice bathing–is winning over wellness circles with founders, entrepreneurs, and business leaders willingly swapping the warmth for water that could make even a penguin wince.



Once a recovery tool reserved for athletes nursing sore muscles, the humble ice bath has rebranded itself as a staple of the self-care scene.



Fill a tub–or wheelie-bin, bath, barrel, or purpose-built plunge pod–with ice and water, then jump in, breathe through the shock, and sit still while your limbs freeze over.



All it takes, they say, is a few minutes of spine-tingling submersion, a deep breath or two, and the mental fortitude not to leap out screaming.



Some plunge first thing in the morning to start the day with a jolt, while others incorporate it into workout recovery routines.



But behind the brave faces and blue lips lies a frosty question: why are so many in the business community throwing themselves into the deep freeze in the name of health?



Part of the answer lies in the changing nature of wellness itself.



Health and wellness were once about a balanced diet and gentle exercise.



Fast forward to today, and it seems caring for your body is not enough–you have to show you’re punishing it and testing your own personal physical and mental limits.



And you get bonus points if it’s filmed and uploaded to social media, preferably with inspirational music and a caption about mental strength.



Supporters of this frosty phenomenon also point to a range of alleged benefits, including sharper focus, improved mood, better sleep, reduced inflammation, and boosted resilience–all qualities prized in today’s high-performance business environment.



But not everyone’s convinced.



While some research does support the release of feel-good chemicals after cold exposure, much of the broader hype is, well, on thin ice.



Besides, to those who have never taken the plunge, the trend can appear less like a path to enlightenment and more like an elaborate form of torture.



The fact is, plunging into an icy bath is a wintertime ritual that seems, quite literally, out of touch with reality.



After all, most of us spend winter avoiding cold at all costs–layering up, lingering in hot showers, and cranking the heater at the first hint of a chill.



Strangely enough, while most of us are dodging draughts and chasing heat, others are splashing out on backyard plunge pools just to freeze themselves on purpose.



None of this is to say that cold plunges are inherently bad.



For some, they offer a genuine boost.



But surely, it’s possible to care for one’s health without turning it into a test of endurance?



In the rush to fine-tune every habit, we can forget that self-care is meant to comfort, not toughen us.



That aside, for those still keen to take the plunge, some basic advice is available.



Start small, don’t stay in too long, and don’t let the trend mask your own instincts.



If it feels more punishing than serving any particular purpose, it’s worth paying attention.



And here’s a thought.



In a world that increasingly treats discomfort as a badge of honor, real resilience might just be about picking what’s right for you–even if that means giving an ice bath the flick.



So, this winter, while others are busy tipping ice into tubs and timing their plunges, it might be wiser to think about what wellbeing really looks like for you.



After all, wellness doesn’t have to come with a frost warning.

Tag: Featured

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