Daily Archives: November 8, 2016

University of Roehampton’s Online MSc in Psychology Receives Accreditation From the British Psychological Society

LONDON, Nov. 8, 2016 /PRNewswire/ — The University of Roehampton, London Online’s MSc in Psychology programme has been accredited by the British Psychological Society (BPS), the representative body for psychology and psychologists in the UK that is responsible for the development, promotion and application of psychology for the public good.

Logo – http://photos.prnewswire.com/prnh/20130822/CL67658LOGO

“Achieving this recognition makes us very proud as we are one of the few online psychology programmes to receive this accolade; it underpins the rigour and value students and employers expect from the University of Roehampton, London Online,” said Professor Clare Pickles, Vice President of Academic Affairs for the online programmes. “Gaining BPS accreditation helps graduates access a range of training, development and professional employment opportunities in psychology.”

BPS accreditation is an independent mark of quality defined and delivered in partnership with psychologists, demonstrating that the quality standards in education and training are continually met. Graduates of the online MSc in Psychology programme will be eligible for Graduate Basis for Chartered Membership (GBC) of the BPS.

The Roehampton Online MSc in Psychology allows students to grow on a professional and personal level while developing psychological literacy that helps provide a new understanding of how to relate to their environments. Students benefit from a thematic learning framework and programme structure that enables different psychological disciplines to be applied to real-world contexts. They can also discover how to apply a range of research methodologies, and develop a strong understanding of how to put psychological research into practice.

For more information on the MSc in Psychology programme, visit https://online.roehampton.ac.uk/programmes/msc-in-psychology.

About the University of Roehampton, London Online
Located in London, the University of Roehampton has a proud history that dates back 175 years. Today, working professionals from more than 150 countries have chosen to study online and earn a quality education assured by the UK government’s Quality Assurance Agency.

Roehampton Online believes that learning is a life-changing and lifelong journey that provides access to a brighter future, and offers a range of online masters programmes that have been designed to enrich students’ knowledge and help them develop practical skills that can be applied immediately and promote career advancement. For information about Roehampton’s online programmes, visit https://online.roehampton.ac.uk. These programmes are provided in partnership with online learning expert, Laureate Online Education. For more information about Laureate, visit www.laureate.net.

APR Energy remporte un projet de production d’énergie de 50 MW au Bénin

JACKSONVILLE, Floride, 7 novembre 2016 /PRNewswire/ — APR Energy, un leader mondial de solutions rapides en matière d’électricité, annonce aujourd’hui la signature d’un contrat pour un projet d’une durée de douze mois avec le Ministère béninois des Mines, de l’Énergie et de l’Eau, en vue de produire 50 MW d’électricité à l’aide de ses turbines dérivées des moteurs aéronautiques, souples en termes de combustibles. Les turbines seront alimentées en gaz naturel, avec la possibilité de passer sans difficulté au diesel en fonction du coût et des disponibilités. Le projet devrait entrer en service en décembre.

Logo – http://photos.prnewswire.com/prnh/20120207/FL48583LOGO

« Nous sommes honorés d’assister le Bénin dans ses efforts pour devenir auto-suffisant en matière de production d’électricité », a déclaré John Campion, le PDG d’APR Energy. « Le Bénin importe actuellement une part non négligeable de son électricité du Ghana, de Côte d’Ivoire et du Nigéria voisins ; ce projet permettra au Bénin de développer son économie grâce à une électricité produite sur place. Un avantage économique supplémentaire viendra du fait que la plupart des employés qui installeront, exploiteront et assureront l’entretien de notre centrale électrique seront recrutés et formés localement. »

Ajouté aux 50 MW au Bénin, APR Energy aura installé plus de 1 000 MW de capacité de production dans 11 pays africains depuis 2008. « En tant que partenaire de l’initiative Power Africa, lancée par le Gouvernement des États-Unis, nous sommes fiers de tenir un rôle important dans la fourniture d’électricité aux personnes et aux entreprises d’Afrique subsaharienne », a déclaré Campion.

À propos d’APR Energy

APR Energy est le premier fournisseur mondial d’électricité rapide par turbines mobiles. Nous fournissons de l’électricité rapide à grande échelle, offrant à nos clients un accès rapide à une source d’électricité fiable quand et où ils en ont besoin, et pour aussi longtemps qu’ils en ont besoin. Combinant une technologie de pointe, économe en carburant, à une expertise sans égal, nous fournissons des usines électriques clés en main au service des villes, des pays et des industries à travers le monde, tant sur les marchés développés que sur les marchés en développement. Pour de plus amples informations, consultez le site internet de la société : www.aprenergy.com.

Prospect of Offshore Oil a Mixed Blessing for Somalia

CAPE TOWN – Somalia looks more likely to strike oil than gas in its long pursuit of offshore riches, making it easier for the African state to exploit any windfall but also potentially upsetting the fragile recovery led by its Western-backed government.

The waters off Somalia, best known for years of piracy, may harbor hydrocarbons at a depth where crude is usually found, seismic services company Spectrum said last week its research showed. This is unlike the seas further south along the African coastline where gas is abundant.

That would be good news for Somalia, which would likely find pumping out oil onto tankers easier than securing the multi-billion dollar investment needed to liquefy gas for export.

Oil revenues could transform Somalia’s economy, where many people rely on subsistence livestock farming. However, it could prove a challenge for a government trying to rebuild a nation battered by clan rivalries and Islamist insurgents after it descended into war in 1991.

“Disagreements between the member states and the federal government could fuel violence and corruption in a country that is still very much trying to build and extend governance,” said Ahmed Soliman, an expert at British think-tank Chatham House.

Some fear oil rigs could also become a new target for pirates, who were the scourge of commercial shipping on nearby trade routes until naval protection and costly security on ships drove them away. The last major hijacking was reported in 2012.

“Somalia is still extremely fragile and hence the risk of the piracy resurfacing is a concern,” said Cyrus Mody, assistant director in the ICC International Maritime Bureau.

Seas of black gold

Onshore exploration in Somalia took place in the 1950s but the collapse of the government and ensuing conflict 25 years ago kept oil firms away. Much of the geophysical data that had been gathered by the state was lost or destroyed.

But explorers have been spurred on by finds of offshore gas in Tanzania and Mozambique and onshore oil in Kenya and Uganda, although exploiting those reserves has been hamstrung by the slide in oil prices and retrenchment by oil firms.

“It is very prospective,” Neil Hodgson, vice president for geoscience at Spectrum, told Reuters, adding that Somalia’s source rock was similar to that found in Mozambique and Tanzania but the deposits were not as deep, suggesting oil over gas.

Spectrum has acquired 20,000 km of 2D data from the government and shot 20,000 km itself as part of its research.

The so-called “gas window” for gas reserves occurs at depths of three to six kms and extremely high temperatures. Oil is usually found at lower temperatures, between two and four kms.

Round one begins

Somalia is pressing on with its exploration plans. Last week, officials announced its first offshore hydrocarbon licensing round at a conference in Cape Town.

The initial round will cover areas off central and southern Somalia and will exclude shallow water block concessions signed in 1988 with Shell and Exxon Mobil.

Abdulkadir Hussein, technical director-general in Somalia’s Petroleum Ministry, said a new majority-state owned national oil company and regulatory body should be operational next year.

Initially, the state oil firm would get a free 10 percent stake in all hydrocarbon ventures.

“Later, when the company becomes established it will participate with its own money, up to a limit of 30 percent,” he told Reuters.

Jamal Mursal, the Somali Oil Ministry’s permanent secretary, said Somalia was working to build capacity to handle the new industry. “We have more to do but are getting there,” he said.

But investors will also need more reassurance about doing business with a government that has had to fend off past criticism from donors about corruption and poor management. The country also needs to put in place legislation.

“There’s still uncertainty about the exact implementation of the petroleum law at all levels of government,” said Ed Hobey, an analyst with Africa Risk Consulting.

Source: Voice of America

Commission on Restitution of Land Rights hands over financial compensation vouchers to Masinenge and Mtshali claimants, 11 Nov

Invitation to the financial compensation handover event to celebrate the settlement of the Masinenge Community land claim and the Mtshali family claim

The Chief Land Claims Commissioner has recently approved the Phase 2 Submission for the settlement of the Masinenge Community land claim and the Mtshali Family claim through the payment of financial compensation. The total value of the Masinenge settlement is R7, 100,608. 00 for the benefit of 64 households who were verified as victims of land dispossession for purposes of Phase 2 settlement.

Source: South African Government

Deputy Minister Mcebisi Jonas: 2016 BSIP Financial Service Conference

President and the Executive leadership of ABSIP

Sponsors of ABSIP and this annual event

Leadership of ABSIP Student Chapter

Honoured guests

Ladies and gentlemen, Good morning

Before I begin with my opening remarks, I would like to acknowledge the sterling work that the Association of Black Securities and Investment Professionals (ABSIP) has been doing during the last four years under the strong leadership of Ms Tryphosa Ramona. I am told that her term of office as President is coming to an end this year. Thank you for providing guidance to the organisation during difficult and challenging times. The new leadership must protect the gains made during your term in office and continue to move the transformation agenda forward in the financial and asset management sector.

We hope that the transition and the process of electing a new President and the executive will be managed efficiently with outcomes consistent with the best and proud traditions of ABSIP, Well done Ms Ramona and good luck to ABSIP on its future endeavours.

Global growth slowed to a six-year low in 2015, and the outlook for 2016 and 2017 remains subdued. Economic pressures have been most hard-felt in emerging markets, especially Brazil, Russia, and South Africa. This is a result of slowing growth in China, weak commodity prices, lower and more volatile capital flows, higher interest rates in US, and less space for counter-cyclical fiscal policy and monetary policy support.

South Africa is often described as a fragile economy. Fragile economies are those that have become too dependent on unreliable sources of foreign investment to finance their own growth ambitions, and in South Africa’s case, even their infrastructure and social investments. What countries such as Brazil, Turkey, and South Africa have in common is their extreme vulnerability to external shocks, with susceptibility to large-scale financial crises caused by even relatively small economic shocks.

The reason for this has to do with the structure of the economy, and the failure to implement the necessary economic reforms. When one compares economies such as Brazil, Turkey and South Africa with more resilient economies such as South Korea, Malaysia, and even China, a number of core differences are evident.

Firstly, fragile economies have very low levels of gross domestic savings as a percentage of GDP (14% for Turkey, 16% for SA compared to 34% for South Korea and 35% for Malaysia). Both government and citizens in South Africa are heavily indebted, which makes us extremely vulnerable. Debt servicing has become the fastest growing budget item, again both of government and private households. To put it into perspective, we could fund the annual budget of an additional two provinces, or provide the additional costs for free higher education for the next five years, on what we spend on debt servicing in one year. Reigning in rampant government spending, addressing the contingent liability concerns in our SOEs, and terminating/deferring spending on unviable projects is non-negotiable.

Secondly, the more resilient economies have far higher levels of fixed capital investment. For example South Africa’s fixed capital investment as a percentage of GDP stands at 19%, Brazil at 18% and Turkey at 20%, compared to China at 47% and South Korea at 30%. We have to increase both public and private sector levels of investment in fixed capital.

Continued Government investment in infrastructure will not in itself enable us to escape our low growth trap. We need to urgently increase levels of private sector investment in our economy. To do this, we require economic policy certainty and more deliberate efforts to reduce the costs and ease of doing business in South Africa. I will pay more attention to this shortly.

The third area that sets fragile economies apart from more resilient ones, relates to the structure of the economy. Again the hard facts speak for themselves. Countries that are locked-in to global markets as primary commodity exporters find themselves extremely vulnerable in times of lower commodities demand and prices. This accounts for the poor performance of economies such as Russia, Brazil, Nigeria and of course South Africa.

Economies that have enjoyed higher and more equitable growth, and have proved far more resilient in the recent global downturn, are those with more diversified economies and higher levels of manufacturing value added. South Africa’s manufacturing value added as a percentage of GDP is around 12%, Turkey’s around 13% and Brazil’s 17%, compared to China (32%), South Korea (31%) and Thailand (33%). It is especially in the high technology exports that the real differences are exposed. As a percentage of manufactured exports, high technology goods make up only 4.5% in SA and 2% in Turkey, compared to 43% in Malaysia, and 26% in both China and South Korea. This is directly attributed to government support in areas of R&D, technology development, industrial policy, export incentives and logistics efficiencies.

Many economists describe the South African economy as being caught in a low growth trap since the 1970s. Growth in South Africa has been slowing since 2011, and despite the 3.3% growth recorded in the second quarter, we remain in a downward phase of the business cycle. Growth in the primary (extractive) sector has been volatile. A rebound in mining in 2015 following normalisation of strike affected PGM output was offset by a contracting agricultural sector beset by the worst drought in decades. The manufacturing sector has also remained flat since 2014, and even the services sector has been slowing since 2011. And our bad politics is not helping.

As the Finance Minister noted in the MTBPS, the country is at cross-roads. Continuation of our existing growth model, with its low growth and inherent structured inequalities, will increase spending pressures on welfare, social security and debt servicing. This is a scenario we cannot entertain.

Since 1994 we have reduced the number of people living in extreme poverty from 41.1 per cent to 21.5 per cent. This is a huge achievement, this was the cornerstone of our “post-94 social bargain” – what we could call “redistribution through welfare” – this however is on a dangerous path of becoming unviable and is unravelling, due to low rates of economic growth, particularly since 2008 and limits to fiscal income that can be redistributed.

There is no doubt that the social bargain -especially the welfare spending component – brought significant social returns in reducing extreme poverty and vulnerability, and extending access to basic services. School enrolment and access to services such as sanitation and electricity have increased dramatically.

Another major transformational outcome has been the creation of a black middle class, but this was mostly through state employment and we have been less successful in creating an entrepreneurial black middle class.

But social inequality has not reduced. We have not deracialised ownership of the economy, and our ambitious project of creating a developmental state has been hamstrung by patronage and corruption. Higher social returns have accrued to those already endowed with capital and skills. Our poor education and training outcomes have not helped.

According to the Department of Labour’s Commission for Employment Equity (CEE) Annual Report for 2015-2016, the white population group comprise 68.9 per cent of top management and 58.1 per cent of senior management in 2015, compared to their share of the economically active population of just under 10 per cent. By comparison, the black African population group comprise 14.3 per cent of top management and 21.2 per cent of senior management in 2015, despite comprising 77.4 per cent of the economically active population.

It is increasingly evident that we need a new social bargain – a new consensus – to build a faster growing and more inclusive economy.

This new social bargain should build on the great strengths we have as a country. We have strong institutions and a robust legal framework; we have well developed and deep capital markets; our share of GDP spending on infrastructure exceeds that of most other economies; we still have a good environment for business compared to many of our peers; and we are witnessing a renewed vigor from government, business and civil society for economic reforms.

At the heart of this new consensus for inclusive growth, we need to cultivate three new national obsessions that will re-inforce each other:

1. A national obsession with renewed growth and vigorous industrialisation, based on reducing growth constraints and fostering new technological capabilities that will grow employment, incomes and exports.

2. A national obsession with constructing a government that is stronger, more capable and less corrupt.

3. A national obsession with education and skills development, to achieve the first two.

Exceptional leadership within government, business, labour and civil society will be necessary to re-mobilise society as a whole behind this national project, and to extract the kind of concessions and compromises necessary. New institutional mechanisms for collective socio-economic governance and accountability will have to be developed as a matter of urgency.

The first and important task of this collective leadership is to unite to preserve our sovereign credit rating. We have no choice but to remain optimistic.

Secondly, we need deliberate and urgent actions among relevant ministries and SOEs to remove constraints to growth. Already many of these actions have commenced, including reducing high cross border costs (including port tariffs); addressing electricity supply issues; as well as addressing regulatory bottlenecks and labour market constraints, especially labour unrests. We are alleviating infrastructure constraints and bottle necks through allocating R865 billion over MTEF to improve infrastructure. We are also working with municipalities to improve the ease of doing business, and have established a one -stop-shop (Invest SA) to coordinate investment promotion, facilitation and after-care at the national level. Invest SA will also ease delays for investors in obtaining visas, licences, permits, registration and approvals. We are also easing certain immigration regulations, including business visa-waiver for India, China, Brazil, Russia and other countries.

Thirdly, we must address barriers to entry and deliberately enable increased black ownership of the economy. But this must be done through enhancing productivity and competitiveness, so that as we address anti-competitive behaviour among cartels, we do not negatively affect output, jobs and exports.

Key initiatives we are driving to enable black ownership includes using the PIC to inject R70bn into agriculture, mining, manufacturing, infrastructure and energy. We are also prioritising SME support through our Gazelles programme, and have also just established an SME public-private Venture Capital Fund.

Platforms such as ABSIP are critical for providing substance and leadership in our society.

ABSIP is a thought leader in the financial services industry – which is not only a critical element of the economy, given its size, but also in the role that it plays in directing investments – in other words, directing the course of the shape of our economy.

My thoughts are that we have made significant progress in transforming the financial sector, or at least putting the mechanisms for transformation in place, with regard to consumer protection, financial stability and BBBEE.

But I would want to challenge ABSIP to assess whether our financial sector is doing enough to grow a competitive economy. Are we directing sufficient financial resources into the productive economy and into economic infrastructure? Is the financial sector, to paraphrase my earlier remarks, obsessed with the country’s industrialisation? Is the financial sector contributing sufficiently to the country’s growth and development, and if not, what can be done to improve this? Is our financial services sector sufficiently patriotic? What role can our domestic financial sector play in making us less fragile?

I have no doubt that ABSIP is the correct organisation to take up these issues and be a central cog in the new growth coalition we need to build.

I thank you.

Source: South African Government