WASHINGTON— South Africa is the most unequal country in the world, with race playing a determining factor in a society here 10 percent of the population owns more than 80 percent of the wealth, a
World Bank report said.
“South Africa … is the most unequal country in the world, ranking first among 164 countries,” the Washington-based institution said in a report called ‘Inequality in Southern Africa’.
Nearly thirty years after the end of apartheid, “race remains a key driver of high inequality in South Africa, due to its impact on education and the labor market,” it said.
When race is considered as a factor in income disparities, the report added, “its contribution to income inequality amounts to 41 percent, while contribution of education is reduced to 30 percent.”
“The legacy of colonialism and apartheid, rooted in racial and spatial segregation, continues to reinforce inequality.”
The country’s neighbours that make up the rest of the Southern African Customs Union — Botswana, Eswatini, Lesotho and Namibia — all finish high on the list of the most unequal countries in the world.
Gender also plays an important role.
In the region, women earn on average 30 percent less than men with the same level of education.
The pay gap between men and women reaches 38 percent in Namibia and South Africa.
The uneven distribution of agricultural land is also a factor driving inequality, especially in rural areas.
In Namibia, 70 percent of the 39.7 million hectares of commercial agricultural land “still belong to Namibians of European descent”, the World Bank said.
The report was produced before the Covid-19 pandemic and its authors used the Gini coefficient — an indicator of income inequality — to rank countries.
Limpopo Provincial Government led by Premier Mr. Chupu Stanley Mathabatha will, on Thursday 10 March 2022, host the Education Indaba under theme: “Moving Limpopo towards educational excellence”. The aim is to explore avenue and interrogate the declining trend in the National Senior Certificate performance. Limpopo Education Indaba will look at other contributing factors generally affecting the sector in the province.
Education is one of the apex priorities adopted in the Limpopo Development Plan (LDP) thus requiring sustained attention towards improvement thereof. This follows, the directive made by Premier Mathabatha that the province should host an Education Indaba before the end of the fourth quarter as part of Provincial Government’s concerted efforts to enhance education in the province.
The Premier, MECs, Executive Mayors, Heads of Departments, Director-General, experts and various stakeholders in the education sector will attend this all-important session. Members of the media are invited to attend as follows:
President Cyril Ramaphosa will host His Excellency Filipe Nyusi, President of the Republic of Mozambique, on a Working Visit to Pretoria tomorrow, Friday, 11 March 2022.
President Nyusi will attend the 3rd Session of the Bi-National Commission of Cooperation (BNC) between the Republic of South Africa and the Republic of Mozambique.
South Africa and Mozambique share strong historical ties arising from the solidarity formed during the two nations’ struggles against colonialism and apartheid.
Beginning in 1997, bilateral relations between South Africa and Mozambique were conducted at the level of the Heads of State Economic Bilateral Forum (HOSEB).
However, on 13 December 2011, the two countries signed an agreement on the establishment of Bi-National Commission of Cooperation (BNC), thus elevating the status of the relations to highest level.
The BNC comprises a Political and Diplomatic Committee; Defence and Security Committee; Economic Committee, and Social Committee which promote cooperation in these areas.
Since the establishment of the BNC in 2011, cooperation has resulted in the signing of a range of sectoral agreements and memoranda of understanding.
The BNC is preceded by meetings of senior officials and Ministers. The two Heads of State are also expected to share views on regional, continental and global issues of mutual interest, particularly peace, security and economic development matters.
The Commission will evaluate progress on all outstanding projects and the implementation of commitments of the 2nd BNC, and will reaffirm the bilateral relations and enhance cooperation between South Africa and its eastern neighbour.
Senegalese President and chair of the African Union Macky Sall has asked Russian President Vladimir Putin to seek a lasting cease-fire in Ukraine. Sall’s talk with Putin comes just a week after Senegal abstained from a U.N. vote to condemn the Russian invasion. African nations have interests in seeing an end to the war but also in not upsetting Putin.
Sall’s request as chairman of the African Union Wednesday was a contrast to his actions as Senegalese president a week prior, when Senegal joined 16 other African countries in abstaining from a U.N. vote to condemn the Russian invasion.
Senegal is considered a beacon of democracy in West Africa, so the move came as a surprise to many.
“[Non-alignment] has been the default posture for many African countries over the years where they prefer not to get involved or not to get in between great power rivalries,” said Joseph Siegle, the director of research for the Africa Center for Strategic Studies. “And so, it isn’t a vote of support for Russia, but a vote for trying to maintain neutrality.”
Russia has a plethora of business dealings throughout the African continent. Senegal, for example, signed a $300 million deal with Russian oil company Lukoil just last year. The company also has operations in Cameroon, Egypt, Ghana and Nigeria. Russian mining companies are also active throughout Africa, from extracting diamonds in Angola to aluminum in Guinea and uranium in Namibia.
Most notably, Moscow is Africa’s leading supplier of weapons. Since 2015, it’s signed military agreements with more than 20 African countries.
Furthermore, private Russia military companies with close ties to the Kremlin have gained an increasingly strong foothold in African countries such as Mali and the Central African Republic.
So, while it may be in the best interest of many African countries to avoid tension with the Kremlin, leaders are beginning to feel the ripple effects of the war.
“Russia is a country that exports a lot of products, notably gas and raw materials like wheat,” said Abdou Rahmane Thiam, head of the political science department at Dakar’s University of Cheikh Anta Diop. “That can have an economic impact especially with regards to trade.”
Luckily, the African Union does have some sway, Thiam said.
“International relations are not only decided by major world powers — the African Union is still a regional institution. It can be considered an influential voice,” Thiam said. “Russia also needs Africa. It’s in their best interest to listen to the spokesperson of the African Union.”
In a statement about the call, the Kremlin referred to the invasion as a “special military operation to protect Donbass” and did not mention Sall’s request for a cease-fire. Instead, it stated that Russia was asked to safely evacuate foreign citizens and said both leaders had reaffirmed their commitment to further develop Russian-African relations.
TEMECULA, Calif., March 09, 2022 (GLOBE NEWSWIRE) — Nikkiso Clean Energy & Industrial Gases Group (“Group”), a part of the Nikkiso Co., Ltd (Japan) group of companies, is proud to announce yet another expansion of their manufacturing capabilities for the growing Marine market. With this expansion, they have become one of the largest manufacturers providing localized assembly in both Busan Korea and Hangzhou China. This expansion represents their commitment to and support of the growth of the Asian shipbuilding industry.
Their Hangzhou China facilities are now equipped to manufacture and deliver marine skids and provide full integration and assembly in-house. This allows for greater quality control and reduced cost for their customers. The new, larger facility in Korea provides full-system Marine solutions. Together, these facilities now provide full localization for design, engineering and manufacturing.
As a unified Nikkiso Group, they are the only company that offers the core technology components completely in-house. They provide fully integrated turnkey fuel system solutions, cargo handling solutions and complex LNG missions. Through their China facility, they can now offer in-country full string testing and provide full fuel gasket testing to ensure meeting engine requirements. Their service capabilities in China and Korea have also been expanded with additional service offerings, long-term service agreements and more field service specialists.
“We are proud to be helping lead the way in the LNG powered Marine market and providing significant benefits to our Marine customers. Nikkiso CE&IG will now be able to provide complete systems and support our customers with a complete factory supported solution,” according to Peter Wagner, CEO of Cryogenic Industries and President of the Group.
Marine continues to be a major focus of the Group, and this expansion provides a strong support structure for future growth. The locations also eliminate the need for ocean freighting for shipment delivery, resulting in shorter delivery times to their customers.
ABOUT CRYOGENIC INDUSTRIES
Cryogenic Industries, Inc. (now a part of Nikkiso Co., Ltd.) member companies manufacture engineered cryogenic gas processing equipment and small-scale process plants for the liquefied natural gas (LNG), well services and industrial gas industries. Founded over 50 years ago, Cryogenic Industries is the parent company of ACD, Cosmodyne and Cryoquip and a commonly controlled group of approximately 20 operating entities.
Derek Aberle, former President of Qualcomm and Nick Stone, former VP of TPG Capital, are business leaders with extensive experience in technology, driving growth and capital markets
LeddarCar
The LeddarCar in Quebec City
QUEBEC CITY, March 09, 2022 (GLOBE NEWSWIRE) — LeddarTech®, a global leader in providing the most flexible, robust and accurate ADAS and AD sensing technology, is pleased to announce the appointments of Derek Aberle and Nick Stone to its Board of Directors.
Mr. Derek Aberle’s experience includes senior executive roles in large, global technology companies as well as the investment community. Mr. Aberle spent 17 years at Qualcomm Incorporated, a global leader in mobile and related technologies and products, in a variety of senior executive roles. From 2014 to 2018, he served as President of Qualcomm with responsibility for all business units, including its licensing and semiconductor businesses, as well as its marketing organization and regional offices worldwide. Prior to that, he served as EVP and Group President and as EVP and President of Qualcomm Technology Licensing. He was a member of Qualcomm’s executive committee for over a decade, helping to drive the company’s overall strategy. Mr. Aberle led many of Qualcomm’s global growth initiatives, including in markets beyond smartphones as well as its expansion in China. He also led Qualcomm’s technology and IP licensing business through a period of tremendous growth and profitability, established its 4G and 5G licensing programs, and structured and negotiated Qualcomm’s major license and other strategic agreements. Since leaving Qualcomm Mr. Aberle co-founded XCOM Labs, a company focused on developing and commercializing advanced wireless technologies, and presently serves as Executive Vice Chairman of XCOM Labs. He also is the CEO of Prospector Capital Corp., a special purpose acquisition company.
Mr. Aberle holds a B.A. in business economics from the University of California, Santa Barbara and a J.D. from the University of San Diego School of Law. He is a board member for XCOM Labs, Prospector Capital Corp., Jaws Juggernaut Acquisition Corp., the Alliance for SoCal Innovation and EvoNexus (a Southern California incubator).
Mr. Nick Stone possesses over 20 years of experience in the investment industry and has been partner with FS Investors since 2010. He previously served as Vice President of TPG Capital, one of the world’s largest private equity funds and an investment professional with Kohlberg Kravis Roberts Co. and Morgan Stanley. As a result, Mr. Stone brings a wealth of knowledge in finance, global markets and high-level investing. He has been involved in investments totaling $20 billion and approximately $2.5 billion in equity capital during his successful career.
Mr. Stone graduated cum laude from Harvard, was an Arjay Miller Scholar at the Stanford Graduate School of Business and resides in La Jolla, California.
“I am very proud to welcome Derek and Nick,” stated Mr. Michel Brûlé, Chairman of the Board of Directors of LeddarTech. “Our Board is comprised of an exceptional group of highly skilled and experienced leaders representing different industries and fields of expertise, including former senior managers and CEOs of companies such as Bosch, Texas Instruments, NXP, Tata Motors, GM, Faurecia, Geely, BMW and the Business Development Bank of Canada.” Mr. Brûlé continued: “The addition of Derek and Nick with their vast experience in technology, global markets and finance will even further enhance the Board’s expertise as well as strengthen our ability to accelerate the growth and success of LeddarTech,” concluded Mr. Brûlé.
“We are privileged to welcome Derek and Nick to our Board,” stated Mr. Charles Boulanger, CEO of LeddarTech. “There’s no doubt that our company’s leadership will be enhanced by Derek’s executive background in the technology industry, specifically in driving global strategies, expertise in international markets, artificial intelligence and wireless technology, and by Nick’s decades of experience in the financial markets where he has led key investments across numerous sectors and geographies,” added Mr. Boulanger. “Adding such exceptional, well respected individuals to our Board of Directors will undoubtedly build the momentum towards the advancement of our ambitious strategic objectives,” concluded Mr. Boulanger.
About LeddarTech
Founded in 2007, LeddarTech is a comprehensive end-to-end environmental sensing company that enables customers to solve critical sensing, fusion and perception challenges across the entire value chain. LeddarTech provides cost-effective perception solutions scalable from Level 2+ ADAS to Level 5 full autonomy with LeddarVision™, a raw-data sensor fusion and perception platform that generates a comprehensive 3D environmental model from a variety of sensor types and configurations. LeddarTech also supports LiDAR manufacturers and Tier 1-2 automotive suppliers with key technology building blocks such as LeddarSteer™ digital beam steering and the LiDAR XLRator™, a development solution for automotive-grade solid-state LiDARs based on the LeddarEngine™ and core components from global semiconductor partners. The company is responsible for several innovations in cutting-edge automotive and mobility remote-sensing applications, with over 100 patented technologies (granted or pending) enhancing ADAS and autonomous driving capabilities.
Contact:
Daniel Aitken, Vice-President, Global Marketing, Communications and Investor Relations, LeddarTech Inc.
Tel.: + 1-418-653-9000 ext. 232 [email protected]
Leddar, LeddarTech, LeddarSteer, LeddarEngine, LeddarVision, LeddarSP, LeddarCore, LeddarEcho, VAYADrive, VayaVision, XLRator and related logos are trademarks or registered trademarks of LeddarTech Inc. and its subsidiaries. All other brands, product names and marks are or may be trademarks or registered trademarks used to identify products or services of their respective owners.
