Today’s Quote

“In a country well governed, poverty is something to be ashamed of. In a country badly governed, wealth is something to be ashamed of.”

Confucius

Africa

Nigeria overtakes India as the world’s poorest country

Africa’s biggest economy, Nigeria has overtaken India as the poorest country in the world. This projection was made by the Washington-based Brookings Institution on a report titled The Start of a New Poverty Narrative.

The Hustler’s Digest - Nigeria Becomes the World’s Poverty Headquarters

Projections at the end of May 2018 indicate that about 87 million people in Nigeria live in extreme poverty as compared to India who once topped the list with 73 million people. A difference of 14 million people in extreme poverty. While the poverty situation in India is declining, that of Nigeria is growing by six people every minute.

If caution is not taken, Africa will be having a predicted number of about 3.2 million extremely poor populations by the end of 2018.

According to this report, the Democratic Republic of Congo may at any time follow Nigeria as the world’s second poorest. With such trends, it will be difficult to eradicate poverty by 2030, thus leading to failure of SDG1, which is to end poverty in all its forms everywhere.

Nigeria, a country of mass graves & less value for human life

It was a black and bloody day in Barkin Ladi, Plateau State, Nigeria on Monday. The world rose up to the news of the massacre of 200 villagers by suspected herdsmen. Men. Women, boys, girls, and children were ruthlessly macheted in their homes and worship centers and left to die in the pool of their own blood.

The Hustler’s Digest - Nigeria Becomes the World’s Poverty Headquarters

While justifying the macabre act, the Nigerian herders’ association known as Miyetti Allah said it was a retaliatory attack on the community after 300 cows were allegedly stolen in the affected villages. Somehow, 300 cows have become equal and of the same value to the blood of 200 persons? Were the many children massacred also cow thieves?

Regrettably, very little has been done in terms of arrests. The leaders of the herders’ association who justified the killings in the media are, however, still moving freely, while the President, Mohamadou accused political rivals of masterminding the killings to paint him black (as a Fulani man) and derail his 2019 presidential re-election bid. He, however, sued for peace between the Fulanis and local villagers, pleading for peaceful cohabitation between different religious orientations within the affected villages.      

Cameroon to computerize all Customs Offices in 2019

Effective communication plays a vital role in every organization. With regards to this, the President of Cameroon, Paul Biya, instructed the four directorates-general in charge of financial administration placed under the supervision of the ministry of finance to interconnect and exchange information more easily.

The Hustler’s Digest - Nigeria Becomes the World’s Poverty Headquarters

“The finalization of the interconnection between these four directorates must be effective in 2019.” President Paul Biya ordered.  

Also, the President charges the ministers, their collaborators and public expenditure controllers to exploit all the possibilities offered by digital technology.

Cameroon government’s blood-soaked humanitarian help to Anglophone Refugees

The Cameroon government recently launched a 12 billion CFA francs emergency humanitarian aid for internally and externally displaced citizens of the conflict-torn English-speaking regions of the country. Anglophone elites and top government officials meeting within the week in Yaoundé launched the said emergency humanitarian initiative with the sum of FCFA 236.452.000.

The Hustler’s Digest - Nigeria Becomes the World’s Poverty Headquarters

The country has been in turmoil for almost three years now following government’s forceful attempt to foil a separatist movement. Unfortunately, the situation has, however, escalated into a full-blown conflict with a brewing civil war in the bilingual Central African nation.

Many have questioned how a government that declared war, causing the internal and external displacement of its citizens will be launching a humanitarian relief mission without a cease-fire. Is it a strategy to identify the hideouts of the population in the forests and eliminate them since they have been repeatedly described as terrorists? Many of such questions and many more continue to arise as the war rages on.   

Oppo Kenya partners with Lipa Later to offer credit payment plan

Oppo mobile in Kenya just entered into a partnership with credit company Lipa Later. The deal will allow customers to purchase Oppo devices on installments, most especially, as it aims to increase sales and step into the Kenyan market. The payment plan will give customers a 3.5% interest rate on the purchase of Oppo F7, a drop from the initial 4%.

The firm has walked the Kenyan market since March 2015 when it debuted three smartphones. As a brand, Oppo has always focused on offering products that are based on consumer feedback and meet their demands. According to the firm, this new arrangement will have a great impact on Oppo F7 and all other Oppo devices that are already performing well in the market. Oppo is, thus, confident that the Lipa Later partnership will boost sales and accelerate smartphone penetration in Kenya.

It is no doubt that the Oppo-Lipa Later partnership will go a long way to increase the sale of Oppo products and accessories.  This is part of the company’s commitment to focus on delivering to its customers, mid and high-range smartphones with the best possible camera technology with its F series of smartphones.

Ethiopia and Eritrea appear to be in a new diplomatic romance

Ethiopia, on Tuesday, welcomed the first delegation of top officials from longtime rival Eritrea for peace talks. This was history in the making as the visit was the first in two decades. While welcoming the delegation, Ethiopia’s prime minister Abiy Ahmed declared that the separation between the neighbors “is shattered down”.

The Hustler’s Digest - Nigeria Becomes the World’s Poverty Headquarters

The Eritrea delegation led by Foreign Minister Osman Sale came after a surprising exchange of goodwill that began early this month with a gesture to end one of Africa’s longest-running conflicts.

Eritrea is known as one of the world’s most reclusive countries. The decision by its leaders to engage in peace talks and to visit Ethiopia is, therefore, commendable. It is a sign that peace has returned between the two conflicting neighbors.  

Telkom appoints a new chief financial officer

The telecommunications provider in South Africa, Telkom, has made executive changes to enhance Telkom’s investment strategy.  Deon Fredericks is to step down as the Chief Financial Officer in favor of Tsholofelo Molefe.

The Hustler’s Digest - Nigeria Becomes the World’s Poverty Headquarters

Deon Fredericks has been the Group Chief Financial Officer of Telkom SA since September 2014. Due to his experience in the business field over the years, Deon will take on the responsibility of chief investment officer.

Making the announcement, Sipho Maseko, Telkom Group CEO, said: “Deon’s experience, intimate knowledge of the business and our resource allocation philosophy, makes him an ideal candidate to drive our investment strategy following his positive contribution to the turnaround phase of the business.”

Tsholofelo Molefe is a qualified chartered accountant who joined Telkom on July 1, 2016, as deputy CFO to Deon Fredericks. The appointment of Molefe as CFO will no doubt take Telkom to another level due to her experience in the field.

Elbalto launches mobile consultation service in Egypt

Health is wealth. Regardless of the chaos going on in the world today, most people still do care about the health of others. For the love of humans and one’s country, an Egyptian startup Elbalto has launched a mobile application that provides users with easy, reliable and affordable online video consultation service.   

The Hustler’s Digest - Nigeria Becomes the World’s Poverty Headquarters 

According to Mahmoud Abdalla, CEO of Elbalto, Egypt is currently suffering from a significant imbalance in the workforce distribution, with doctors concentrating on the big cities and urban setting.

Still motivated with love for humanity, Abdalla, however, intends to expand the consultation service to other countries but for now, it is just Egypt.

Congo to cooperate with the world’s oil leaders

The Republic of Congo has joined the Organisation of  Petroleum Exporting Countries (OPEC). Her membership was announced at the 174th Ordinary Meeting of OPEC held in Vienna, Austria on June 22, 2018. This makes her the newest member of the organization.

 

Most of Congo’s revenue comes from the oil industry. Joining OPEC, therefore, will help them monitor to their position in global oil markets and to ensure a sufficient flow of investments into hydrocarbons. For the past years, France Total SA and Eni SpA of Italy have been the companies controlling the Central African country’s oil industry.

According to the Republic of Congo’s Communication Minister, Thierry Moungalla, the country’s admission into OPEC is an opportunity for them to liberalize the oil sector and be exposed to other investors. France TOTAL SA and Eni SpA of Italy will, nevertheless, remain their main partners. Congo’s membership in OPEC has, therefore, increased Africa’s representation in the organization of the world’s oil leaders, presenting the continent as the most represented.

The foundation of another presidential dictatorship may just be on course in Zimbabwe

Zimbabwe is probably laying another foundation of presidential dictatorship in Africa. This follows last week’s incident where a bomb exploded at a ruling party (ZANU-PF) political rally in an apparent assassination target of President Emmerson Mnangagwa. President Mnangagwa is now set to make sweeping reforms on his security details.

The Hustler’s Digest - Nigeria Becomes the World’s Poverty Headquarters

There are already fears that such reforms may, however, be followed by other power consolidation reforms that could lead to a new dictatorship in the country after the fall of former dictator President, Robert Mugabe. This could be accompanied by a targeted elimination of all perceived enemies, especially, within the ranks of the ruling ZANU-PF party. It is a very likely possibility, especially, if president Mnangagwa wins a full mandate in the upcoming presidential election.

Sometimes, some African leaders often come to power with very good intentions on running open democratic system but circumstances, security breaches and a threat to their life like the case in Zimbabwe finally turn them into dictators. As such, they use every resource at their disposal to consolidate power and authority, ready to deal with any opposing voice within and without.

World

To tax or not to tax: states can now impose sales tax on e-commerce brands

The Supreme Court recently gave states the power to collect sales tax from online retailers, even if those companies don’t have a physical presence in the state. Big online retailers have managed to avoid paying sales tax since the court’s initial decision in 1992. The ruling had made much of the Internet, a tax-free zone and put traditional retailers at a disadvantage. The court has, however, changed its tune.

The Hustler’s Digest - Nigeria Becomes the World’s Poverty Headquarters

In their defense, a lot has changed since then. The court made the initial ruling at a time when mail-order sales totaled $180 million. Regardless, brick-and-mortar businesses have long complained about the disadvantage of having to pay sales taxes while many of their online competitors do not.

But innovators in the fintech space also stand to win big. Avalara, a sales tax automation company, saw its stock skyrocket 30% upon the ruling. Amazon shares were down 1% after the news broke. But at $1,730 a share, it’s safe to say they’ll be just fine. It’s, however, the smaller e-tailers that are feeling the pinch. EBay stock fell a whopping 12.6%, the popular home goods seller, Wayfair, fell 9.5%, and Etsy fell 5.7%.

Trade wars with the EU and China are kicking into high gear as China’s US investments tank

Trade wars with the EU and China are kicking into high gear. Thanks to tumultuous tariffs, Chinese investment in the US dropped 92% in the first half of 2018, reshaping trade across the globe. President Trump ran on the idea that the country’s current trade deals could hurt US workers. So earlier this year, the US threatened to hit countries with steel and aluminum tariffs. Over the past few months, the tariffs have, however, gone into effect. And not everyone is happy.

The Hustler’s Digest - Nigeria Becomes the World’s Poverty Headquarters

Last week, the EU hit back with billions in tariffs on US products ranging from bourbon to motorcycles. On Tuesday, Harley-Davidson said the new tariffs could cost the firm up to $100 million a year. So it’s packing up and moving some of its ops overseas. The Trump admin says China isn’t a fair player in the trade game. And is giving mixed signals about whether it wants to double-down on the country. Either way, China is apparently saying ‘bring it on.’ The stock market on its part just wishes we could get along like we used to in the past.

Now that countries are playing tit-for-tat, this trade war is showing no signs of stopping. And Harley-Davidson’s recent announcement is a sign that this could end up harming US workers more than helping. The trade war between the US and China has, however, been largely bluster so far. China has also vowed to match US tariffs dollar-for-dollar if Trump follows through with his jabs. So get ready to pay more for everything as the international bickering continues.

Mind Gym is going public at a $192 million valuation

On Monday, the corporate office culture development company, Mind Gym, announced plans for a $192 million listing. The company said the IPO will raise around $67 million for selling shareholders. And that this was a positive step in its plans to grow and diversify.

The London-based firm offers classes that look to promote better office culture by teaching employees how to work in healthier and more productive ways. We repeat: there are absolutely no classes that teach someone how to jump through a wood chipper and live to tell the tale.

 The past 12 months have, however, been busy for them. The group works with corporate big boys like Unilever, GlaxoSmithKline, and Microsoft, and their revenue spiked 17%, with a 25% jump in operating profits.

U.S. Supreme court backs Trump on travel ban

The U.S. Supreme Court on Tuesday handed Donald Trump one of the biggest victories of his presidency. The court upheld the president’s travel ban targeting several Muslim-majority countries.

The Hustler’s Digest - Nigeria Becomes the World’s Poverty Headquarters

The ruling, which saw the court’s five conservatives in the majority as against four others, puts an end to a fierce fight in the courts over whether Trump’s Muslim travel ban policy was unlawful or not. It is, therefore, a vindication for the president, after lower courts had blocked this executive order in September 2017.

The court held that the challengers had failed to show that the ban violates either U.S. immigration law or the U.S. Constitution’s First Amendment prohibition on the government favoring one religion over another. According to the Chief Justice John Roberts, the government “has set forth a sufficient national security justification” for the policy.

Silicon Times

Events

  • Don’t miss out on SheSkill’d Mushroom two days training on Mushroom production from June 29 – 30, 2018, 8 AM daily. Contact: 679247096 / 674900390.
  • You can’t afford to miss the TechStars Startup Weekend Buea 07/18, run from July 20, 8:00 AM – July 22, 2018, 10:30 AM at Catholic University Institute of Buea.
  • Don’t miss out on DEMO Africa Innovation Tour – Yaounde Edition on July 5, 2018, from 1:30 PM – 5:00 PM at ActivSpaces, Buea.
  • Register now for an insightful session with numerous networking opportunities at the Africa Singapore Business Forum (ASBF) 2018 from August 28 – 29, 2018, in Singapore.
  • Attend the event on Powering up at continent at POWER-GEN & DistribuTECH Africa 2018 from July 17 – 19, 2018 in Johannesburg, South Africa.
  • Don’t miss the East Africa Digital Construction from November 14 -15, 2018, Nairobi, Kenya.
  • Attend the Live Smart City Travel, Live, Work & Startup at Abuja-The World’s First from November 23, 2018, 9:30 am to November 24, 2018, 6 pm at Sheraton Abuja Hotel, Nigeria.
  • Grab an amazing opportunity to meet Human Resources Professionals during the Workshop on Writing HR Policies and Procedures from November 12-16, 2018, 9 am – 5 pm at HCA Learning Centre, Nigeria.

Jobs

  • Apply as a Deputy Director of Operations at International Rescue Committee. Cameroon. Closing date: July 07, 2018.
  • Work as a Senior Payroll Officer at Morgan Law firm based in South London. Deadline: July 26, 2018.
  • Trusted Recruitment is in need of a Digital and PR outreach personnel. Wilmslow Cheshire. Closing date: July 16, 2018.
  • Apply as a Grant Writer for Action Against Hunger in Niger. Closing date: July 20, 2018.
  • INTERSOS needs the service of a Project Manager in Cameroon. Deadline: July 04, 2018.
  • Work as a Safety Advisor at International NGO Safety Organization. Maroua – Cameroon. Closing date: July 13, 2018.
  • Apply as a Financial Manager at Islamic Relief – Kenya. Deadline: July 10, 2018.
  • Norwegian Church Aid is in need of a Camp Coordination and Camp Management Advisor. Adikpo – Nigeria. Deadline: July 09, 2018.

Opportunities

  • Apply for the Mandela Institute for Development Studies(MINDS) call for CVs-Interim Program Manager-Johannesburg, South Africa. Application Deadline: June 29, 2018.
  • Falling Walls Venture International Competition 2018 for science-based startups. Application Deadline: June 30, 2018.
  • Apply for Lafarge Ashaka Cement Limited 2018 Graduate Training Programs for Young Nigerian graduates. Application Deadline: July 13, 2018.
  • Participate in Tech 4Her GSC 2018 BatchBi: Jumpstart A Career in Web & Mobile Apps Developpement and Get Microsoft Certification (Tuition Free). Application Deadline: June 29, 2018.
  • Apply for the World Bank Group IFC Recruitment Drive 2018 for sub-Saharan African Professionals. Application deadlines vary with position.
  • Applications are open for the 2018 Google Impact Challenge Nigeria for nonprofits and social entreprises ( $250,000 grant and training from Google). Application Deadline: July 4, 2018.
  • Apply for Investec Bursary Programmes 2019 for Young South Africans. Application Deadline is August 31, 2018.
  • Participate in the Crick African Network’s African Career Accelerator (CAN ACA) Awards 2018 for African Post-Doctoral researchers. Application Deadline: August 1, 2018.
  • Grab the amazing opportunity and apply for L’Oreal South Africa Digital Marketing Internship Program 2018.
  • Call for nominations: Inspiring Fifty – South Africa 2018 for young South African women in Technology & Innovation. Application Deadline: July 9, 2018.
  • Apply for the Ministry of Economy, Trade, and Industry ( METI) Government of Japan Internship Program 2018 (Fully Funded to Japan). Application Deadline: June 30, 2018

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