Latest news with #AU
Zawya
17 hours ago
- Business
- Zawya
Migration should be embraced, not feared
"Migration is not a problem to solve, but an opportunity to seize," says Walter Kasempa, AU/IOM Migration Ambassador. As the most mobile and fastest-growing demographic on the continent, youth are both drivers and beneficiaries of migration. Whether searching for opportunity, escaping conflict, or building cross-border networks, young people are shaping the present and future of African migration. They are also at the forefront of innovation leveraging technology, advocacy, and entrepreneurship to create new pathways for social and economic inclusion. Seen through this lens, migration is not a crisis to manage, but a lever for growth and renewal. Yet many remain undocumented, which limits their access to formal systems and sidelines them from participating fully in society. Without legal identity, they remain invisible to institutions and vulnerable to exclusion. Ensuring young Africans are counted, protected by effective policies, and equipped to participate in migration governance is not just about inclusion. It is a strategic investment in the continent's future. In a video message recorded on the sidelines of a regional workshop on legal identity and migration organized by the Economic Commission for Africa in Harare, Zimbabwe, Walter Kasempa, AU/IOM Migration Ambassador, called on young Africans to take an active role in shaping systems that affect their mobility and inclusion. Mr Kasempa's message reinforced a central point shared by many participants: migration governance must be rooted in inclusion, and legal identity is foundational to that goal. Christian Oldiges, Chief of the Social Policy Section at the United Nations Economic Commission for Africa (ECA), underscored the role of youth in shaping migration policy. 'When young people see themselves as part of the solution, migration governance becomes not just inclusive, but transformative,' said Mr Oldiges. 'Legal identity must be recognized as a governance tool for poverty reduction as well as a public good, key to accessing rights, services and protections that every person is entitled to, regardless of their migration status. The African Continental Free Trade Area (AfCFTA), with a market of over 1.3 billion people, presents a major opportunity to boost intra-African mobility and economic growth. If fully implemented, it could help reduce the need for migration beyond the continent by enabling young people to move, work and innovate more freely within Africa. The AfCFTA also provides a framework for retaining Africa's talent. With better access to legal identity and mobility systems, young Africans can thrive as entrepreneurs, digital innovators, skilled professionals and business leaders within the continent. But realising this potential hinges on addressing the identity and governance gaps that still limit movement and access. Fixing these issues today is key to unlocking the continent's future. The Harare workshop, co-organized by ECA, the African Union and the International Organization for Migration, focused on improving legal identity and migration data systems. A practical toolkit was also validated to support national efforts. Distributed by APO Group on behalf of United Nations Economic Commission for Africa (ECA).
IOL News
19 hours ago
- Politics
- IOL News
Revive the Tana High-level forum: Facilitate the re-establishment of African Renaissance Clubs
, I urge the two Foundations to include the revival of the Tana High-level forum in their immediate flagship programme so that the human and intellectual capital served in the forum can use their institutional memory to guide and advise the envisaged clubs, the writer says. Image: File Sixteen years ago, the African Union (AU) convened a summit of heads of state in Tripoli, Libya, to analyse, among other matters, the state of conflicts, peace, and security across the continent. The summit resolved to eliminate the ongoing conflicts and promote sustainable peace and security throughout the continent. These heads of African states committed to implementing this resolution within the 'African-centred solutions to peace and security' framework. However, three years after that 2009 AU summit and following the wave of violent conflicts characterised as the 'Arab Spring' in countries such as Egypt, Tunisia, and Libya and others, the Tana High-Level Forum was established in 2012 as a centre for Pan-African conversation and facilitation of the practical realisation of the summit resolution. This high-level forum has evolved into an informal strategic platform for key decision-makers and civil society organisations (CSOs) across the continent to meet and not only exchange best practices, experiences, and ideas on conflict resolution, peace, and security, but also African ideas and thoughts. Interestingly, the forum adopted a baobab tree as its logo because historically, African 'Kings and elders would hold meetings under the baobab tree, with the belief that the tree's spirits would guide them in decision-making. Video Player is loading. 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Advertisement Next Stay Close ✕ It symbolises a meeting place where communities and individuals gather to share stories, conversations and wisdom among the young and the elders.' In October 2022, the Tana Forum celebrated a decade of existence; it is important to note that African women, Dr Hesphina Rukato, Ms Michelle Ndiaye and Ms Lettie Langwe have coordinated this initiative throughout this period. The forum has established itself as a genuine platform for exchanging ideas, showcasing well-researched Pan-African papers that set the agenda for the AU and commission meetings. It also aims to implement the call for 'African solutions to African problems'. Although this call is critiqued by some Africans, who argue that certain problems do not necessarily originate in Africa, I maintain that it is still critical because the intention is for African leaders to take ownership of Africa's destiny and foster collective self-reliance to activate African agency and promote Pan-African ideas in the 'global Africa'. I contend that the establishment of this high-level forum thirteen years ago has created a networking platform for Africans and produced crucial African literature that can serve as the foundation and reservoir of an indigenous knowledge system for the (re)-establishment of the African Renaissance Clubs, as proclaimed by a member of the Thabo Mbeki Foundation Advisory Council, Ambassador Ami Mpunguwe, during the 15th Thabo Mbeki Annual African Day Lecture in Tanzania. That in the coming months, the Thabo Mbeki, Julius Nyerere Foundations and other stakeholders will work on establishing Renaissance clubs from Dar es Salaam to the diaspora. These clubs aim to revive the Pan-African movement, igniting and accelerating the African Renaissance and agency by nurturing thought leaders, thinkers, and doers in the quest to realise the vision and dreams of the founding leaders of the Organisation of African Unity (OAU). I am confident that the TM Foundation has critically assessed the factors contributing to the decline of the previous Renaissance and Pan African structure and the Pan-African movement on the continent and has drawn valuable lessons from the movement in the diaspora. This assessment is necessary to avert the repetition of history, especially considering that the task ahead is daunting, as there is an argument that Africa is more dependent today than it was at the dawn of independence more than six decades ago. Therefore, I urge the two Foundations to include the revival of the Tana High-level forum in their immediate flagship programme so that the human and intellectual capital served in the forum can use their institutional memory to guide and advise the envisaged clubs. Already, the forum has produced research papers and recommendations that the African Union never implemented due to its leadership crisis and lack of political will to drive the African agenda and inspire hope to Africans. The foundations would need funding and partnerships to implement this critical Pan-African initiative. However, I posit that potential funders and partners must be critically examined. Because I argue that the Tana High-level forum was, to a greater extent, weakened by the external funders and partners with their nefarious agendas, according to one of the first women to coordinate the forum, Dr Rukato, the forum was started with six funders and partners with Ethiopia and its entities as core funder, and the structure generated significant interest among funders and partners on and beyond the continent, for example at the launch of the forum, German, Chinese and Indian governments had already developed interests to fund, however ten years later the forum had twenty six funders and partners. Dr Rukato asserts that this increasing sponsorship was needed. However, it created challenges for the forum because specific funders and partners began to organise parallel events and diluted the format and programmes of the forum; this unfortunate situation affected the quality of debates because the sponsors focused more on promoting themselves at the expense of the forum. I still argue that the AU and its member states must reset the engagement with the external partners and craft criteria in selecting funders and partnerships. This criterion must also be used to assess how the current partnerships and funders are assisting in implementing the AU Agenda 2063. Africa must rise, defend and advance its African-centred approach to development. In my view, the Tana High-level Forum was, in its initial stages, a true African Parliament, even more effective than the Pan-African Parliament (PAP) based in Midrand, South Africa. I agree with Dr. Rukato that 'a formal review of the forum is necessary as part of marking its 10th anniversary and adapting it to new and emerging factors that may have arisen in the past decade.' As an aspirant Pan-African scholar, I call on all Africans in the 'global Africa', to support this great initiative of the Thabo Mbeki and Julius Nyerere foundations to (re) establish the African renaissance clubs, however, we must also make a call for an incorporation of the revival of the Tana High-level forum in the broader strategic plan of the foundations. Orapeleng Matshediso is a Masters graduate of Pan African Development Studies and Research Associate at the University of Johannesburg (Institute for Pan African Thought and Conversation). The author is also an alumnus of the then Thabo Mbeki African Leadership Institute (TMALI). Orapeleng Matshediso is a Masters graduate of Pan African Development Studies and Research Associate at the University of Johannesburg (Institute for Pan African Thought and Conversation). Image: Supplied. BUSINESS REPORT Visit:
1News
a day ago
- 1News
Strange smell led Australian police to exotic animal traffickers
Noticing a strange smell, officials opened a package from overseas to discover snakes, iguanas, turtles and tarantulas — many of them dead. Two years later, a sweeping investigation into an illegal wildlife trafficking ring has led to a Queensland man being sentenced to jail. Jesse Sayeg pleaded guilty to three offences related to smuggling exotic animals into Australia in Caloundra Magistrates Court this week. It came after a multi-year probe spanning three states that exposed an illegal exotic wildlife trafficking gang, the Department of Agriculture, Fisheries and Forestry (DAFF) said. An alligator snapping turtle was among those discovered as part of the probe. (Source: Australian Department of Agriculture, Fisheries and Forestry) ADVERTISEMENT Officials were first tipped off when Australian Border Force officers noticed the smell coming from a package sent from the Philippines in March 2023. They tipped off the Department of Agriculture, Fisheries and Forestry which X-rayed the parcel, revealing its exotic contents. Overall 15 reptiles and spiders were discovered in drawstring calico fabric bags — six iguanas along with three snakes, soft-shell turtles and tarantulas. The mostly dead wildlife were in a consignment under a false name and misdeclared as toys, the federal department said. The investigation into the trafficking gang that unfolded stretched across Queensland, Western Australia and Victoria, with search warrants uncovering many more animals. An additional two hog nose snakes, 45 tarantulas, two scorpions, an African hedgehog and an alligator snapping turtle were among those discovered as part of the probe. An alligator snapping turtle was among those discovered as part of the probe. (Source: Australian Department of Agriculture, Fisheries and Forestry) ADVERTISEMENT Sayeg was involved in the trafficking ring, admitting to illegally importing live tortoises and turtles in Caloundra Magistrates Court. He was sentenced to nine months in prison. "The illegal wildlife trade is the world's fourth-largest illicit transnational trade, after arms, drugs and human trafficking," the department's deputy secretary of biosecurity, operations and compliance Justine Saunders said. "The Department of Agriculture, Fisheries and Forestry, along with other government agencies, are united in their commitment to eradicate the illicit wildlife trade and will take vigorous and relentless action to seek out those responsible, bring them to justice and stop this global crime." Saunders said animals introduced to Australia via illegal trafficking created "unacceptable biosecurity risks", and could be potentially devastating to agriculture, wildlife and even human health. "Any breach of Australia's biosecurity laws is taken extremely seriously." Individuals faced a maximum of 10 years in prison and fines of up to AU$1.65 million (NZ$1.77 million) or AU$8.25 million (NZ$8.89 million) for a company, she said. ADVERTISEMENT The two-year probe dubbed Operation Cascade was led by the Department of Agriculture, Fisheries and Forestry with help from the Department of Climate Change, Energy, the Environment and Water as well as Border Force and Victorian, Queensland and Western Australian agencies.
Techday NZ
a day ago
- Business
- Techday NZ
Strengthening cyber resilience in superannuation
In early April, cybercriminals infiltrated multiple superannuation providers using stolen credentials to drain half a million dollars, while four Australians saw their retirement savings vanish overnight. Investigators are racing to piece together the scale of the breach, emphasizing the growing cybersecurity risks threatening Australia's AU$4.2 trillion retirement savings pool. With 12.6 million superannuation members exposed in recent attacks, the question is no longer if fraudsters will strike, but how the industry can stay ahead in this battle. Even though the Australian Prudential Regulation Authority (APRA) praised multifactor authentication (MFA) as "one of the most effective controls an organisation can implement" in 2023, the rapid evolution of cybercrime demands more sophisticated defences. Limits of MFA in a changing threat landscape MFA remains one of the critical security measures, requiring users to verify their identity with two or more credentials, which adds an extra layer of friction to deter attacks in the login process. However, cybercriminals are also adapting, using modern tactics such as phishing, social engineering and AI-powered techniques to bypass these defences. Recent superannuation breaches highlight another vulnerability in the digital landscape: inadequate password practices. Many individuals still reuse passwords across platforms, unintentionally simplifying the task for cybercriminals who exploit stolen credentials. Attackers often conduct these crimes unnoticed, causing considerable financial damage before they are detected. Trade-off between cybersecurity and user experience According to the True Cost of Fraud Study by LexisNexis Risk Solutions, Australian organisations saw a 66% year-on-year increase in fraud, with every dollar lost costing firms AUD$3.68. This trend highlights the urgency for a more adaptive and layered approach to fraud prevention. At the same time, customers today expect both security and convenience. Applying MFA to every interaction could be a more robust approach but excessive friction can lead to abandonment, indirectly discouraging users from monitoring their accounts due to higher friction, making them less likely to notice when they have become victims of an attack. A more nuanced, risk-based approach that applies the right level of security based on the context and risks of each interaction allows organisations to detect and disrupt complex fraud in real time without adding unnecessary friction. By aligning protection with risk, businesses can strengthen security without compromising customer experiences. A comprehensive defence strategy involves multiple layers, and each layer strengthens defence against fraudsters. This ensures that if one security measure fails, others remain in place to detect and mitigate fraudulent activity. Key measures should include identity verification, device intelligence, behavioural intelligence and real-time risk scoring: Risk assessments analyse contextual risk signals, such as device reputation, IP geolocation, network patterns and login behaviours. This allows institutions to assess the risk level of each interaction. AI models analyse these signals in real time to assign a risk score, deciding whether extra authentication is necessary. AI-powered identity verification ensures that the individual behind the digital interaction is genuine. Comparing identity details with public records and data from multiple providers further validates the authenticity of the identity. Fraud assessments assess risk associated with an individual's identity by analysing a combination of digital, physical and behavioural signals. With holistic behavioural intelligence, such as keystroke dynamics, device interactions and mouse movements, this approach builds a dynamic profile of each user over time, and deviations from this may signal potentially bot or fraudulent activities. Adaptive authentication: Apply stronger verification for high-risk scenarios dynamically, while maintaining a smooth experience for legitimate users. Recent cyberattacks targeting superannuation funds highlight the need for a more robust digital defence strategy. APRA's multi-factor authentication guidelines offer a solid foundation, but static approaches alone are not enough to manage dynamic threats. Industry players must take a unified, layered approach to safeguard Australia's financial system.
Yahoo
a day ago
- Business
- Yahoo
Estimating The Intrinsic Value Of Yancoal Australia Ltd (ASX:YAL)
The projected fair value for Yancoal Australia is AU$5.02 based on 2 Stage Free Cash Flow to Equity Yancoal Australia's AU$5.34 share price indicates it is trading at similar levels as its fair value estimate Analyst price target for YAL is which is 100% below our fair value estimate Today we'll do a simple run through of a valuation method used to estimate the attractiveness of Yancoal Australia Ltd (ASX:YAL) as an investment opportunity by taking the expected future cash flows and discounting them to today's value. One way to achieve this is by employing the Discounted Cash Flow (DCF) model. Before you think you won't be able to understand it, just read on! It's actually much less complex than you'd imagine. We generally believe that a company's value is the present value of all of the cash it will generate in the future. However, a DCF is just one valuation metric among many, and it is not without flaws. If you want to learn more about discounted cash flow, the rationale behind this calculation can be read in detail in the Simply Wall St analysis model. We've found 21 US stocks that are forecast to pay a dividend yield of over 6% next year. See the full list for free. We use what is known as a 2-stage model, which simply means we have two different periods of growth rates for the company's cash flows. Generally the first stage is higher growth, and the second stage is a lower growth phase. To begin with, we have to get estimates of the next ten years of cash flows. Seeing as no analyst estimates of free cash flow are available to us, we have extrapolate the previous free cash flow (FCF) from the company's last reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years. A DCF is all about the idea that a dollar in the future is less valuable than a dollar today, so we need to discount the sum of these future cash flows to arrive at a present value estimate: 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 Levered FCF (A$, Millions) AU$765.8m AU$489.5m AU$370.2m AU$310.4m AU$278.0m AU$260.1m AU$250.7m AU$246.6m AU$246.0m AU$247.7m Growth Rate Estimate Source Est @ -52.80% Est @ -36.08% Est @ -24.37% Est @ -16.17% Est @ -10.44% Est @ -6.42% Est @ -3.61% Est @ -1.64% Est @ -0.26% Est @ 0.70% Present Value (A$, Millions) Discounted @ 6.4% AU$720 AU$432 AU$307 AU$242 AU$204 AU$179 AU$162 AU$150 AU$141 AU$133 ("Est" = FCF growth rate estimated by Simply Wall St)Present Value of 10-year Cash Flow (PVCF) = AU$2.7b The second stage is also known as Terminal Value, this is the business's cash flow after the first stage. The Gordon Growth formula is used to calculate Terminal Value at a future annual growth rate equal to the 5-year average of the 10-year government bond yield of 2.9%. We discount the terminal cash flows to today's value at a cost of equity of 6.4%. Terminal Value (TV)= FCF2034 × (1 + g) ÷ (r – g) = AU$248m× (1 + 2.9%) ÷ (6.4%– 2.9%) = AU$7.4b Present Value of Terminal Value (PVTV)= TV / (1 + r)10= AU$7.4b÷ ( 1 + 6.4%)10= AU$4.0b The total value is the sum of cash flows for the next ten years plus the discounted terminal value, which results in the Total Equity Value, which in this case is AU$6.6b. To get the intrinsic value per share, we divide this by the total number of shares outstanding. Relative to the current share price of AU$5.3, the company appears around fair value at the time of writing. Remember though, that this is just an approximate valuation, and like any complex formula - garbage in, garbage out. We would point out that the most important inputs to a discounted cash flow are the discount rate and of course the actual cash flows. If you don't agree with these result, have a go at the calculation yourself and play with the assumptions. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not give a full picture of a company's potential performance. Given that we are looking at Yancoal Australia as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 6.4%, which is based on a levered beta of 0.800. Beta is a measure of a stock's volatility, compared to the market as a whole. We get our beta from the industry average beta of globally comparable companies, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable business. Check out our latest analysis for Yancoal Australia Strength Currently debt free. Dividends are covered by earnings and cash flows. Dividend is in the top 25% of dividend payers in the market. Weakness Earnings declined over the past year. Opportunity Good value based on P/E ratio compared to estimated Fair P/E ratio. Threat Annual earnings are forecast to decline for the next 3 years. Whilst important, the DCF calculation shouldn't be the only metric you look at when researching a company. DCF models are not the be-all and end-all of investment valuation. Preferably you'd apply different cases and assumptions and see how they would impact the company's valuation. For example, changes in the company's cost of equity or the risk free rate can significantly impact the valuation. For Yancoal Australia, we've compiled three essential aspects you should consider: Risks: For example, we've discovered 2 warning signs for Yancoal Australia (1 shouldn't be ignored!) that you should be aware of before investing here. Future Earnings: How does YAL's growth rate compare to its peers and the wider market? Dig deeper into the analyst consensus number for the upcoming years by interacting with our free analyst growth expectation chart. Other Solid Businesses: Low debt, high returns on equity and good past performance are fundamental to a strong business. Why not explore our interactive list of stocks with solid business fundamentals to see if there are other companies you may not have considered! PS. The Simply Wall St app conducts a discounted cash flow valuation for every stock on the ASX every day. If you want to find the calculation for other stocks just search here. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
