AFRICA NEWS
Cummins scoops skills development and learnership award
Awards at the Hyatt Hotel in
Johannesburg, South Africa.
Cummins South Africa’s entry
focused on sustainable talent
development initiatives that
positively change employees,
companies, civil society at
large, and ultimately, South
Africa. Promoting employee
engagement actions that
can be incorporated into the
workplace infrastructure, these
programmes are driven by
subject matter experts from
within the company.
Commenting after the
win, Vathiswa Mkatshane,
Cummins South Africa’s Skills
Development Facilitator who
championed the Cummins
entry, said: “For many years,
we have been recruiting
Cummins wins Employee Engagement Award 2018.
Cummins South Africa is the
proud recipient of the Skills
Development and Learnership
Award at the recently held
inaugural Africa-wide 2018
Africa Employee Engagement
and developing raw talent,
culminating in many of the
incumbents ultimately securing
permanent employment after
completing their respective
programmes. These initiatives
include Graduate Programmes,
Management Development
Programmes, Bursary
Programmes, Apprenticeship
Programmes, Learnership
Programmes, and the recent
June launch of the Technical
Education for Communities
initiative in Sebokeng.”
Adopting a ‘buddy, mentor,
or coach’ orientation, the
programmes also promote skills
transfer and are relevant to the
B-BBEE scorecard, Workplace
Skills Plan, and Annual Training
Report.
Four South African cities feature
on the top 10 wealthiest list
in Africa, according to the
Africa 2018 Wealth Report:
Johannesburg, Durban, Cape
Town, and Pretoria.
The report unpacks wealth
trends in Africa over the past 10
years. It defines ‘wealth’ as the
nett assets of a person in US
dollar terms — including property,
cash, equities, and business
interests — less any liabilities.
For the purposes of the report,
a country’s wealth includes all
individuals working or living there,
including expats. South Africa
was found to be the wealthiest
country in Africa, with total
wealth of USD722-billion.
Total individual wealth held
in Africa currently amounts to
around USD2.3-trillion. This is
expected to rise by 34% over the
next 10 years, reaching USD3.1-
trillion by the end of 2027.
The top African country in terms
of average wealth per person
was Mauritius, at USD32 700,
followed by South Africa.
Total wealth held in Africa
has risen by 13% over the past
10 years and by 3% over the
past year. Mauritius was the top
performing individual market
during both these periods.
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NOVEMBER 2018
Over the next 10 years, the
report expects Mauritius, Ghana,
Rwanda, and Uganda to be the
strongest performing wealth
markets in Africa.
On the other hand, the report
projects that wealth growth in
South Africa, Angola, Morocco,
Egypt, Ivory Coast, Tanzania, and
Nigeria will be less favourable,
but still positive.
The safest countries in Africa
are Mauritius, Botswana, and
Namibia.
Top 10 wealthiest cities in Africa
Johannesburg
Total wealth held in the city
(including Sandton) amounts to
USD276-billion. Major sectors in
the city include financial services
(banks), professional services
(law firms, consultancies),
construction, telecoms, and basic
materials.
Cape Town
Total wealth held in the city
amounts to USD155-billion. Major
sectors in the city include real
estate, financial services (fund
management), retail, and tourism.
Cairo
Total wealth held in the city
amounts to USD140-billion. Major
sectors in the city include real
Africa’s top 10 wealthiest cities
‘Durbs-by-the-sea’ is one of the four South African cities that made the list.
estate and construction, financial
services, and basic materials.
Lagos
Total wealth held in the city
amounts to USD108-billion.
Major sectors in the city include
basic materials, real estate and
construction, telecoms, transport,
and financial services.
Durban
Total wealth held in the city
amounts to USD55-billion.
Figures for Durban include
Umhlanga, Ballito, Zimbali, and
La Lucia. Major sectors in the
city include real estate, finance,
health care, construction, retail,
and transport.
Nairobi
Total wealth held in the city
amounts to USD54-billion.
Major sectors in the city include
financial services, real estate and
construction, retail, tourism, fast-
moving consumer goods (FMCG),
telecoms, and basic materials.
Luanda
Total wealth held in the city
amounts to USD49-billion. Major
sectors in the city include real
estate and construction, transport,
and basic materials (oil and gas).
Pretoria
Total wealth held in the city
amounts to USD48-billion. Major
sectors in the city include basic
materials, manufacturing, and
financial services.
Casablanca
Total wealth held in the city
amounts to USD42-billion. Major
sectors in the city include basic
materials, manufacturing, and
financial services.
Accra
Total wealth held in the city
amounts to USD38-billion. Major
sectors in the city include basic
materials, manufacturing, and
financial services.
Source: www.fin24.com
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