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Friday, 19 April 2024

Educating for the 4th Industrial Revolution

Business

BOITSHEPO BOLELE

Although the Fourth Industrial Revolution (4IR) was publicly announced in Davos in 2016, various elements related to what makes this new dimension has been ongoing for almost a decade. The term received wide publicity when German Chancellor Angela Merkel highlighted at the Hanover Fair in 2011, the emergence of Industry 4.0 to make German manufacturing more competitive.

Emergence of Industry Revolution 4.0

Industry 1.0: (1784) : Based on mechanical production equipment driven by water and steam power.
Industry 2.0: (1870): Based on mass production enabled by the division of labor and the use of electrical energy.
Industry 3.0 (1969): Based on the use of electronics and IT to further automate production.
Industry 4.0 (today): Based on the use of cyber-physical systems.

The reason to say that the fourth industrial revolution is in full force today is due to the fact that velocity and impact of current breakthroughs is like never before. The innovations and advances are omnipresent led by strong emergence of fields like Artificial Intelligence, Robotics, Internet of Things, Autonomous Vehicles, Biotechnology, Nanotechnology, 3-D Printing, Material Science, Quantum Computing and Energy Storage. The impact of such breakthroughs is so rapid that the fourth industrial revolution is evolving at an exponential pace, and disrupting almost every industry.

Opportunities brought by Fourth Industry Revolution

Industry 4.0 can play a vital role in raising the global income levels and take our current stand of living to a next orbit. Technology has made it possible to make products and services that enable us to lead a better life. This will drive gains within the efficiency and productivity of our current lifestyle, leading to:

  • Increase in global income levels
  • Enhanced quality of life with higher order technologies
  • Reduction in transportation and communication costs
  • Creation of new products and markets
  • Safer workplace as hazardous work is taken over by robots
  • Enhanced health services leading to longevity

Challenges of Fourth Industrial Revolution

On the contrary, one of the biggest challenges is that it could lead to even higher inequality, as emerging technologies take over labour intensive jobs. But, then Technology has always been destroying jobs, and it has always been creating jobs. Apart from this, the other challenges could be:

  •  Security issues of data and maintaining privacy
  •  Risk of greater inequality in labour markets
  •  Decrease in real income of workers as machines take over
  •  Displacement of workers by machines and artificial intelligence
  •  Creation of higher order human jobs is always a concern when automated technologies takeover day to day jobs


The Six Drivers of Change in workplace brought by Fourth Industrial Revolution

The Fourth Industry Revolution with its opportunities and challenges will bring to the forth the new drivers of change in workplace and organizations. These are summarized as follows:-

  • Extreme Longevity
  • Smart Machines & Sytems – tech can augment and extend our own capabilities.
  • Computational World – increase in sensors and processing makes the world a programable system;
  • New Media Ecology – new communication tools require media literacy beyond text;
  • Super Structured Organizations – social technologies drive new forms of production and value creation
  • Globally Connected World – diversity and adaptability is at center of operations.


The Skills of Tomorrow needed in the 4IR world

With the drivers of change as enumerated above, the skill-set that would be required by the “jobs- of –the- future” would change rapidly. Some of these skills are specified in the following info:-

New Media Literacy: ability to critically assess and develop content that uses new media forms and to leverage these media forms for persuasive communication.

Virtual Collaboration: ability to work productively, drive engagement, and demonstrate presence as a member of the virtual team.

Cognitive Load Management: Ability to discriminate and filter information for importance and understand how to maximise cognitive functions.

Social Intelligence – ability to connect to others in a deep and direct way to sense and stimulate reactions and desired interactions;

Computational Thinking – ability to translate vast amounts of data into abstract concepts and understand data based reasoning.

Transdisciplinary – literacy and ability to understand concepts across multiple landscapes;

Mindset Design – ability to represent and develop tasks and work processes for desired outcomes;

Need for Education 4.0 framework

One of the imperatives of the 4IR is human capital enhancements to be able to meet the knowledge and skills requirements. This, puts demand on knowledge production and innovation applications of knowledge. Also, changes in reading and learning habits need that educationalists devise new techniques.

The rapid pace of emergence of Industry 4.0 requires that Education 4.0 also leapfrogs from the current Education 2.0 framework to Education 3.0/4.0. Education 1.0: centuries of experience with memorization 
Education 2.0: Internet-enabled learning
Education 3.0: Consuming & Producing knowledge
Education 4.0: Empowering education to produce innovation

Boitshepo Bolele is the Director of Hlanganani ICT Botswana, a BQA Accredited ICT Institute and Secretariat of WOMEN IN TECH Botswana Chapter, located at Unit 21 THE OFFICE, Tel:  3132255 / 72537788.  You are invited to contact us for further engagement on the matter or to enroll for membership of WOMEN IN TECH Botswana Chapter.

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Business

LLR transforms from Company to Group reporting

9th April 2024

Botswana Stock Exchange listed diversified real estate company, Letlole La Rona Limited (“LLR” or “the Company” or “the Group”), posted its first set of group financial statements which comprise the Company and Group consolidated accounts, which show strong financial performance for the six months ended 31 December 2023, with improvements across all key metrics.

The Company commenced the financial year with the appointment of a Deputy Chairperson, Mr Mooketsi Maphane, in order to bolster its governance and enhance leadership continuity through the development of a Board and Executive Management Succession Plan.

At operational level, LLR increased its shareholding in Railpark Mall from 32.79% to 57.79% and proudly took over the management of this prime asset.

The CEO of LLR, Ms Kamogelo Mowaneng commented “During the period under review, our portfolio continued to perform strongly, with improvements across all key metrics as a result of our ongoing focus on portfolio growth and optimisation.

“We are pleased to report a successful first half of the 2024 financial year, where we managed to not only grow the portfolio through strategic acquisitions and value accretive refurbishments but also recycled capital through the disposal of Moedi House as well as the ongoing sale of section titles at Red Square Apartments. The acquisition of an additional 25% stake in JTTM Properties significantly uplifted the value of our investment portfolio to P2.0 billion at a Group level. Our investment portfolio was further differentiated by the quality of our tenant base, as demonstrated by above market occupancy levels of 99.15% and strong collections of above 100% for the period”.

The growth in contractual revenue of 9% from the prior year’s P48.0 million to the current year P52.2 million, increased income from Railpark Mall, coupled with high collection rates, has enabled the company to declare a distribution of 9.11 thebe per linked unit, which is in line with the prior year.

 

In line with its strategic pillars of ‘Streamlined and Expanded Botswana Portfolio’ as well as ‘Quality African Assets’, the Group continuously monitors the performance of its investments to ensure that they meet the targeted returns.

“The Group continues to explore yield accretive opportunities for balance sheet growth and funding options that can be deployed to finance that growth” further commented the CEO of LLR Ms Kamogelo Mowaneng.

Ms Mowaneng further thanked the Group’s stakeholders for their continued support and stated that they look forward to unlocking further value in the Group.

 

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Business

Botswana’s Electricity Generation Dips 26.4%

9th April 2024

The Botswana Power Corporation (BPC) has reported a significant decrease in electricity generation for the fourth quarter of 2023, with output plummeting by 26.4%. This decline is primarily attributed to operational difficulties at the Morupule B power plant, as per the latest Botswana Index of Electricity Generation (IEG) released recently.

Local electricity production saw a drastic reduction, falling from 889,535 MWH in the third quarter of 2023 to 654,312 MWH in the period under review. This substantial decrease is largely due to the operational challenges at the Morupule B power plant. Consequently, the need for imported electricity surged by 35.6% (136,243 MWH) from 382,426 MWH in the third quarter to 518,669 MWH in the fourth quarter. This increase was necessitated by the need to compensate for the shortfall in locally generated electricity.

Zambia Electricity Supply Corporation Limited (ZESCO) was the principal supplier of imported electricity, accounting for 43.1% of total electricity imports during the fourth quarter of 2023. Eskom followed with 21.8%, while the remaining 12.1, 10.3, 8.6, and 4.2% were sourced from Electricidade de Mozambique (EDM), Southern African Power Pool (SAPP), Nampower, and Cross-border electricity markets, respectively. Cross-border electricity markets involve the supply of electricity to towns and villages along the border from neighboring countries such as Namibia and Zambia.

Distributed electricity exhibited a decrease of 7.8% (98,980 MWH), dropping from 1,271,961 MWH in the third quarter of 2023 to 1,172,981 MWH in the review quarter.

Electricity generated locally contributed 55.8% to the electricity distributed during the fourth quarter of 2023, a decrease from the 74.5% contribution in the same quarter of the previous year. This signifies a decrease of 18.7 percentage points. The quarter-on-quarter comparison shows that the contribution of locally generated electricity to the distributed electricity fell by 14.2 percentage points, from 69.9% in the third quarter of 2023 to 55.8% in the fourth quarter. The Morupule A and B power stations accounted for 90.4% of the electricity generated during the fourth quarter of 2023, while Matshelagabedi and Orapa emergency power plants contributed the remaining 5.9 and 3.7% respectively.

The year-on-year analysis reveals some improvement in local electricity generation. The year-on-year perspective shows that the amount of distributed electricity increased by 8.2% (88,781 MWH), from 1,084,200 MWH in the fourth quarter of 2022 to 1,172,981 MWH in the current quarter. The trend of the Index of Electricity Generation from the first quarter of 2013 to the fourth quarter of 2023 indicates an improvement in local electricity generation, despite fluctuations.

The year-on-year analysis also reveals a downward trend in the physical volume of imported electricity. The trend in the physical volume of imported electricity from the first quarter of 2013 to the fourth quarter of 2023 shows a downward trend, indicating the country’s continued effort to generate adequate electricity to meet domestic demand, has led to the decreased reliance on electricity imports.

In response to the need to increase local generation and reduce power imports, the government has initiated a new National Energy Policy. This policy is aimed at guiding the management and development of Botswana’s energy sector and encouraging investment in new and renewable energy. In the policy document, Minister of Mineral Resources, Green Technology and Energy Security Lefoko Moagi stated that the policy aims to transform Botswana from being a net energy importer to a self-sufficient nation with surplus energy for export into the region. Moagi expressed confidence that Botswana has the potential to achieve self-sufficiency in electric power supply, given the country’s readily available energy resources such as coal and renewable sources.

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Business

MMG acquires Khoemacau in a transaction valued at P23Bn

9th April 2024

MMG Limited, the Hong Kong-based mining company specializing in base metals, has successfully concluded the acquisition of Khoemacau Copper Mine, a state-of-the-art, world-class copper asset nestled in the northwest of Botswana.

On Monday, MMG announced that the acquisition of Khoemacau Mine in Botswana was finalized on 22nd March 2024. “This acquisition enriches the company’s portfolio with a top-tier, transformative growth project and signifies a monumental milestone in the Company’s journey,” MMG communicated in an official statement published on the Hong Kong Stock Exchange.

Upon completion of the acquisition, MMG remitted to the Sellers an Aggregate Consideration of approximately US$1,734,657,000 (over P23 billion), a sum subject to potential adjustments post-Completion.

In addition to the Aggregate Consideration, MMG, in accordance with the Agreement, advanced an aggregate amount of approximately US$348,580,000 (over P4.5 billion) as the Aggregate Debt Settlement Amount, to settle certain debt balances of the Target Group (Cuprous Capital/Khoemacau).

On November 21, 2023, Khoemacau announced that the shareholders of its parent company [Cuprous Capital] had agreed to sell 100% of their interests to MMG Limited.

MMG is a global resources company that mines, explores, and develops copper and other base metals projects on four continents. The company is headquartered in Melbourne, Australia, and has a significant shareholder, China Minmetals Corporation, which is China’s largest metals and minerals group owned by the Government of the People’s Republic of China.

On December 22, 2023, Khoemacau Copper Mining (Pty) Ltd received the approval from the Minister of Minerals and Energy of Botswana regarding the transfer of a controlling interest in the Project Licenses and Prospecting Licenses associated with the Khoemacau Copper Mine, a result of the Acquisition.

 

The Botswana Competition & Consumer Authority (CCA) on January 29, 2024, notified the market that it had given its approval for the takeover of Khoemacau Copper Mining by MMG Limited.

On January 29, 2024, the CCA issued a merger decision to the market, stating that after conducting all necessary assessments, it was ready to proceed.

The Competition Authority affirmed that the structure of the relevant market would not significantly change upon implementation of the proposed merger as the proposed transaction is not likely to result in a substantial lessening of competition, nor endanger the continuity of service in the market of mining of copper and silver ores and the production, and sale or supply of copper concentrate in Botswana.

Furthermore, the CCA stated that the proposed merger would not have any negative impact on public interest matters in Botswana as per the provisions of section 52(2) of the Competition Act 2018.

Earlier this month, Minister of Minerals & Energy, Lefoko Maxwell Moagi, informed parliament that his Ministry was endorsing the Khoemacau acquisition by MMG Limited. He noted that not only was the company acquiring the existing operation but also committing to an expansion program that would cost over $700 million to double production, create more jobs for Batswana, and increase taxes and royalties paid to the Government.

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