Educating for the 4th Industrial Revolution
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.
You may like
Grit divests from Letlole La Rona
Grit Services Limited, a member of the pan African real estate group, London Stock Exchange listed Grit Real Estate Income Group is divesting from Letlole La Rona Limited (LLR), a local real estate company established by government investment arm Botswana Development Corporation over a decade ago.
The Board of Directors of Letlole La Rona Limited this week announced in a statement to Unitholders that Grit Services Limited (‘Grit’) has informed them of its intention to exit its investment in the company.
Grit has been a material shareholder in LLR since 2019. On 07 March 2023, Grit sold 6 421 000 linked units, representing 2.29% of the Company’s total securities in issue, at a market value of BWP 22 537 710.
This trade follows previous sales of 6.79% in December 2022, as communicated to Unitholders on 10 January 2023, as well as a further sale of 4.78% (representing 13 347 068 linked units) on 24 February 2023 to various shareholders.
In aggregate, Grit has sold 13.9% shareholding in the Letlole La Rona between December 2022 and March 2023, resulting in current shareholding of 11.25% in the Company.
Letlole La Rona said in the statement that the exit process will take place in an orderly manner so as to maintain stability of the Company’s share price.
The statement explained that Grit’s sale of its entire shareholding in LLR is in line with its decision to exit investments where it does not have majority control, or where it has significant exposure to currencies other than US dollar, Euro or hard-currency-pegged revenue streams.
“Grit has announced similar decisions pertaining to certain of its hospitality assets in Mauritius recently. The Company would like to advise Unitholders that it remains focused on long-term value delivery to all stakeholders” LLR said
In July last year as part of their Go-to-Africa strategy Letlole La Rona acquired an initial 30% equity stake in Orbit Africa Logistics, with an option to increase this investment to 50%. OAL is a special purpose vehicle incorporated in Mauritius, owning an industrial asset in a prime industrial node in Nairobi, Kenya.
The co-investment was done alongside a wholly owned subsidiary of London listed Grit. The Orbit facility is situated on a prime industrial site on Mombasa Road, the principal route south of Nairobi center, serving the main industrial node, the port of Mombasa and the industrial town of Athi River and is strategically located 11 kilometers south of the international airport and 9.6 kilometers from the Inland Container Depot.
Grit shareholding in Letlole La Rona was seen as strategic for LLR, for the company to leverage on Grit’s already existing continental presence and expand its wings beyond Botswana borders as already delivered by Kenya transaction.
Media reports have however suggested that LLR and Grit have since late last year had fundamental disagreements on how to go about the Go-to-Africa strategy amongst other things, fuelled by alleged Botswana government interference on the affairs of LLR.
Government through LLR founding shareholder – Botswana Development Corporation has a controlling stake of around 40 percent in the company. Government is the sole shareholder of Botswana Development Corporation.
Letlole La Rona recently released their financial results for the six months ended December 2022, revenue increased by 4% to P50.2 million from P48.4 million in the prior comparative six months, whilst operating profit was up 8% to P36.5 million. Profit before tax of P49.7 million was reported, an increase of 8% on the prior comparative six months.
“We are encouraged by the strong results, notwithstanding a challenging economic environment. Our performance was mainly underpinned by annual lease escalations, our quality tenant base and below average market vacancy levels, especially in our warehouse portfolio,” Kamogelo Mowaneng, Letlole La Rona Chief Executive Officer commented.
LLR reported a weighted average lease expiry period of 3.3 years and escalation rates averaging 6.8% per annum for the period ended 31 December 2022.Its investment portfolio value increased by 14% year-on-year to close the period at P1.4 billion, mainly driven by the acquisition of a 30% stake in OAL in July 2022.
The Company also recorded a significant increase in other income, predominantly due to foreign exchange gains on the OAL shareholder loan. “We continue to explore pipeline opportunities locally, and regionally in line with our Go-to-Africa strategy and our interest remains on value-accretive investments,” Mowaneng said.
An interim distribution of 9.11 thebe per linked unit was declared on the 6th of February 2023 for the half-year period to 31 December 2022, comprising of a dividend of 0.05 thebe and debenture interest of 9.06 thebe per linked unit which will be paid to linked unit holders registered in the books of the Company at the close of business on 24 February 2023.
Stargems Group establishes Training Center in BW
Internationally-acclaimed diamond manufacturing company StarGems Group has established the Stargems Diamond Training Center which will be providing specialized training in diamond manufacturing and evaluation.
The Stargems Diamond Training Institute is located at the Stargems Group Botswana Unit in Gaborone.
“In accordance with the National Human Resource Development Strategy (NHRDS) which holds the principle that through education and skills development as well as the strategic alignment between national ambitions and individual capabilities, Botswana will become a prosperous, productive and innovative nation due to the quality and efficacy of its citizenry. The Training Centre will provide a range of modules in theory and in practice; from rough diamond evaluation to diamond grading and polishing for Batswana, at no cost for eight weeks. The internationally- recognized certificate offered in partnership with Harry Oppenheimer Diamond Training School presents invaluable opportunities for Batswana to access in the diamond industry locally and internationally. The initiative is an extension of our Corporate Social Investment to the community in which we operate,” said Vishal Shah, Stargems Group Managing Director, during the launch of the Stargems Diamond Training Center.
In order to participate in this rare opportunity, interested candidates are invited to submit a police clearance certificate and a BGCSE certificate only to the Stargems offices. Students who excel in these programs will have the chance to be onboarded by the Stargems Group. This serves as motivation for them to go through this training with a high level of seriousness.
“Community empowerment is one of our CSR principles. We believe that businesses can only thrive when their communities are well taken of. We are hoping that our presence will be impactful to various communities and economies. In the six countries that we are operating in, we have contributed through dedicating 10% of our revenues during COVID-19 to facilitate education, donating to hospitals and also to NGOs committed to supporting women and children living with HIV. One key issue that we are targeting in Botswana is the rate of unemployment amongst the youth. We are looking forward to working closely with the government and other relevant authorities to curb unemployment,” said Shah.
Currently, Stargems Group has employed 117 Batswana and they are looking forward to growing the numbers to 500 as the company grows. Majority of the employees will be graduates from the Stargems Diamond Training Center. This initiation has been received with open arms by the general public and stakeholders. During the launch, the Minister of Minerals and Energy, Honorable Lefoko Moagi, stated that the ministry fully endorses Stargems Diamond Training and will work closely with the Group to support and grow the initiative.
“As a ministry, we see this as an game changer that is aligned with one of the United Nations’ Six Priority Sustainable Development Goals, which is to Advance Opportunity and Impact for Diversity, Equity, and Inclusion (DEI). What Stargems Group is launching today will have a huge impact on the creation of employment in Botswana. An economy’s productivity rises as the number of educated workers increases as its skilled workmanship increases. It is not a secret that low skills perpetuate poverty and widen the inequality gap, therefore the development of skills has the potential to contribute significantly to structural transformation and economic growth by enhancing employability and helping the country become more competitive. We are grateful to see the emergence of industry players such as Stargems Group who have strived to create such opportunities that mitigate the negative effects of COVID-19 on the economy,” said the Minister of Minerals and Energy.
Food import bill slightly declines
The latest figures released by Statistics Botswana this week shows that food import bill for Botswana slightly declined from around P1.1 billion in November 2022 to around P981 million in December during the same year.
This content is locked
Login To Unlock The Content!