Business
Google promises 300,000 jobs in South Africa
South Africa’s official unemployment rate was last reported at 31.9%, with youth unemployment for those aged between 15 and 35 sitting at 44.6%, according to Statistics South Africa’s labour force survey for Q4 2024.
Google says its investment in data centre infrastructure in Johannesburg, part of a greater R18 billion investment in Africa, should help create 300,000 jobs and contribute R1.7 trillion to the South African economy by 2030.
Mybroadband reports that the tech powerhouse added that South Africa also has the unique opportunity to rapidly develop its nascent artificial intelligence sector to become an AI leader on the African continent and the global stage, given its youth bulge and high unemployment rate.
This is according to Google’s Europe, Middle East, and Africa President Tara Brady, who spoke during a press conference on Wednesday at the launch of the company’s Johannesburg cloud region.
“I do believe that when you have a large number of organisations willing to invest in training, you could leapfrog many other countries and become an AI leader,” Brady said. Brady was commenting on the 300,000 jobs Google said their infrastructure investment in Johannesburg would help create by 2030.
He added that Google has identified a unique advantage in South Africa due to its high unemployment rate, which is not seen in other countries around the world.
“When you have such high unemployment, it means that we can put those people to work, which is an opportunity that we don’t have in other regions,” Brady said.
“So if South Africa wants to, we are prepared to invest in AI together here.
South Africa’s official unemployment rate was last reported at 31.9%, with youth unemployment for those aged between 15 and 35 sitting at 44.6%, according to Statistics South Africa’s labour force survey for Q4 2024.
Google CEO Sundar Pichai announced in 2021 that the tech giant would invest $1 billion (R18 billion) over five years in digital transformation on the continent.
Brady said that while a “large chunk” of this was dedicated to the cloud region, it also focused on skilling people in Africa and aiding tech startups in the region.
South Africa’s minister of communications and digital technologies, Solly Malatsi, who did not attend the event but delivered a prerecorded address, emphasised the importance of these skilling initiatives in the country’s vision of a digital future.
Business
Naira Rates To Dollar, Pound ,Euro… Friday, October 2
BLACK MARKET RATES
₦1375DOLLAR (USD)
₦1845 POUND (GBP)
EURO (EUR) ₦1550
₦1000 CANADIAN DOLLAR (CAD)
₦70 SOUTH AFRICAN RAND (ZAR)
₦370 UAE DIRHAM
₦190 CHINESE YUAN (CNY)
₦100 GHANA CEDI (GHS)
₦2350 CFA F.(XOF)
₦2250 CFA F.(XAF)
₦850 AUSTRALIAN DOLLAR (AUSSIE)
Official CBN Exchange Rates
DOLLAR (USD)₦1329.16
POUND (GBP)₦1766.59
EURO (EUR) ₦1510.06
SWISS FRANC (CHF) ₦1593.91
JAPANESE YEN (JPN)₦8.47
CFA FRANC (XOF) ₦2.30
WEST AFRICAN UNIT OF ACCOUNT (WAUA) ₦1807.23
CHINESE YUAN (CNY) ₦198.25
SAUDI RIYAL (SAR) ₦353.97
SOUTH AFRICAN RAND (ZAR) ₦81.18
Business
Obasanjo: “Aliko Embarrass Me”
He got all his workers together in that refinery and said, without telling me, and there, said…
Former President of Nigeria, Olusegun Obasanjo, has described Aliko Dangote as his “boss”, crediting the businessman’s industrial achievements to the policies and encouragement provided by his administration.
Obasanjo said this while speaking at the groundbreaking ceremony of the Dangote East Africa Refinery in Lamu, Kenya, where he recalled his recent visit to the Dangote refinery and the businessman’s acknowledgement of the role he played in his transition from cement importation to production.
He said, “About two months ago, three months ago, I visited the refinery which you visited last week. And I just couldn’t stop being surprised what Aliko did. But then Aliko embarrassed me.”
According to Obasanjo, Dangote had gathered his workers during the visit and publicly attributed part of his success in cement production and the eventual development of his refinery to the policies and encouragement of the former president.
He said, “He got all his workers together in that refinery and said, without telling me, and there, said, all of you working here, all of you, the man you have to thank is this man, that’s me. I didn’t have anything to do with his refinery or what it is.
He said, without this man, I would not have been in cement production.“And it is the cement production that provided the encouragement, the inspiration for the refinery. So, thank you. They all shouted and thanked me.”
Obasanjo said Dangote had expanded the opportunities created by his administration beyond Nigeria, particularly through cement production across Africa, and was now replicating the model in the petroleum refining sector.
“May God continue to expand your coast. And you are my boss. You will continue to be my boss.”
Business
Minister Tasks Charcoal Merchants on Sustainable Forestry
The minister gave the charge at the flag-off of the 2026 Operation One Million Trees Tree Planting Programme organised by the Association for Forest Conservation and Green Industrial Charcoal Merchants at the Faculty of Renewable Natural Resources, University of Ibadan.
•Charcoal merchants and other stakeholders in the forestry sector
The Minister of Environment, Balarabe Abass Lawal, has charged charcoal merchants and other stakeholders in the forestry sector to embrace sustainable practices and support the federal government’s efforts to reverse deforestation and restore Nigeria’s degraded forest landscapes.
The minister gave the charge at the flag-off of the 2026 Operation One Million Trees Tree Planting Programme organised by the Association for Forest Conservation and Green Industrial Charcoal Merchants at the Faculty of Renewable Natural Resources, University of Ibadan.
The programme, which brought together forestry practitioners, charcoal merchants, environmentalists, students, regulators and other stakeholders, is aimed at promoting afforestation and encouraging responsible management of Nigeria’s forest resources.
Speaking at the event, the minister described tree planting as one of the most practical measures for combating climate change, reversing deforestation, restoring biodiversity, controlling desertification and strengthening the resilience of the nation’s ecosystems.
The Chairman of the Association for Forest Conservation and Green Industrial Charcoal Merchants, Mr Adeshola Adebowale Idowu, emphasised that the event carried a clear message for everyone involved in the charcoal business and, indeed, every Nigerian.
Idowu said stakeholders should develop the habit of replacing trees removed from the environment, encouraging Nigerians to plant trees around their homes and communities.
He advocated a practice of planting several trees for every tree cut down, stressing that trees remain indispensable to human existence because many products used by society are derived from them
( THISDAY)
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