African leaders have signed accords setting up a continental free-trade area that’s expected to boost commerce within the 55-member African Union. More than 40 nations signed the African Continental Free Trade Area agreement, or AfCFTA, which commits governments to removing tariffs on 90% of goods and phasing in the rest in future. The agreements will still require ratification by the individual governments and will only come into force when ratified by at least 22 countries.
Zuckerburg Apologises For Data Breach
Facebook Inc Chief Executive Mark Zuckerberg said on Wednesday that his company made mistakes in how it handled data belonging to 50 million of its users and promised tougher steps to restrict developers’ access to such information. Facebook is facing growing government scrutiny in Europe and the United States about a whistleblower’s allegations that London-based political consultancy Cambridge Analytica improperly accessed user information to build profiles on American voters which were later used to help elect US President Donald Trump in 2016.
Five Million Jobs Losses To AI By 2020
The World Economic Forum predicts that five million jobs will be lost by 2020 as the Fourth Industrial Revolution continues to transform labour markets. Many of the casualties will be repetitive manufacturing and mining tasks and those considered dangerous for humans to perform, but white-collar jobs in banks and other services industries are also under threat.
Fuel Fund Case To GO To Court
The Central Energy Fund (CEF) and its SFF subsidiary have approached the High Court in Cape Town to have the 2015 and 2016 sales declared unlawful and set aside. Former energy minister Tina Joemat-Pettersson and the then CEO of the Strategic Fuel Fund (SFF) Sibusiso Gamede have been named in court papers as the people at the centre of one of the biggest heists of state assets — the secret sale 10-million barrels of strategic fuel reserves in 2015.
Ghost Students Created To Defraud Universities
Six suspects appeared in the Specialised Commercial Crimes Court in Pretoria on Monday after allegedly manipulating a bursary system at the University of South Africa (Unisa) by creating ghost students. According to the Hawks, a Unisa payroll administrator, Thandie Esbie, created ghost students and defrauded the South African Agency for Science and Technology (SAAST), under the administration of the National Research Foundation of South Africa, to the tune of R1.7 million.
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