Welcome back everyone this is Brian we're gonna continue our journey on Python 3 and we're gonna continue with basic string operations now When I said strings are complex data types. I was not joking and there's no way we can cover everything in these little two videos Especially because we haven't even covered the fundamental logic of programming So we have to stick with the basics for now. Don't worry later on in this series We are going to revisit some of the more advanced things we can do but right now you have to learn to crawl before you can walk So let's start crawling Gonna say variable str is going to be Hello world. This is a string Very very simple and we're gonna start off with here. So What we're gonna do in this video is we're going to do things like getting the length of the string Repeating the string replacing characters and things of that nature and even slicing them and getting the specific indexes or Positions within the string. Let's dive into the basic operations. So first things first Let's say we want to get the length. I'm gonna say print We're gonna call the lin function, which is not limited to just strings, but it is super super handy for strings And we are going to get fit just print out a comment here Get the length We run this we can see this is 30 characters long Now you might be inclined to say no wait a minute. It's a zero based indirect So it's actually 29. No, it actually gets the length not the position.  Let's demonstrate Hello world. Hello world. Hello world. So it did exactly what we thought it would do here Yes, the first time I did that I kind of sat back in my chair and went wait, what is that right? But it is actually a thing with Python if you're coming from another language You're probably sitting there just staring at your screen going what witchcraft is this but it's actually super handy if you need to repeat a string Now let's go ahead and let's look at replacing and If you're coming from another language, well, this is exactly what you think it is. It's just dead simple So in Python strings are a data type, but they're also a first-class object meaning They have functions built right into them. We haven't really covered functions yet But just know you can say you're a variable name dot and then call some code and we're gonna call the replace function and what this is gonna do It's going to take the string and replace a section of it. So let's say I want to replace Hello with Hola So if you're from Mexico or Spain or any Spanish-speaking country, that would be the correct way of saying hello as hola I'm probably mispronouncing that but you get the point. You can simply replace it. So Hola world. This is a string Makes it super simple to do that. You don't have to figure out where things are You can also do something like split a string So if you're coming again from another language, you've done this before And I'm gonna say SDR. I want to split and notice how it's looking for a separator here So let's go ahead and split this on that comma If you're not coming from another language, you're like, wait, wait, wait slow down. What is splitting? So we're gonna take this string and Turn it into two strings and we're looking for a separator value in this case this comma right here So it's going to say hello world and then this is a string and it's gonna give us two strings back Here we go Hello world and this is a string now. You may be going now. Wait a minute this commas here Look at these little brackets. You got this in brackets beginning bracket. What it's done is it's created a data type We haven't talked about yet, but we will in the next few videos and it's put two strings into that data type And then handed it to us very convenient way of saying hey split those up as you go on programming You're gonna actually use that quite a bit Now let's say we want to know if this starts with something so I say SDR and I want to say starts with Does it start with the letter H? I'm almost embarrassed to type that comment starts with because it's pretty self-explanatory what it's doing But just in case it's going to return a bull and it's gonna tell us hey Yes, it does if we switch this to like J. Does it start with the J? alts Very simple handy way of determining what's going on We can through the magic copy and paste switch this to ends with And let's say we want to make sure this ends with an exclamation true true there we go and Let's go ahead and look at uppercase lowercase and capitalization. We're just going to say print And we want upper It's gonna give us hello world This is string all in uppercase you notice how it's got these brackets here And that's because it is a function if we would omit those We're gonna get a built-in upper of string object and then this number you ever see something like this Basically, what you're trying to do is call a function without It's brackets and you need those you're wondering what this number is. That's a location in memory So an object is simply something that exists in memory and that's its location So admittedly this message is not super helpful for beginners, but I just wanted to explain what that was Around this out. We'll say Lower and I want to capitalize So now we have all uppercase all lowercase and capitalize the way it should be Let's take a look at slicing and when I first heard this term I actually I'd like this vision of whipping out a lightsaber and slicing something in half and it's actually Not far off from what we're talking about. We're talking about getting a substring now when I say a substring remember This string is just a series of characters and each one is at a position So the zero would be here and then one and so on and so on and so on and so on So what we want to do is get a substring or a slice Think of it like you have a pie in front of you and you're gonna get a slice of pie You're not taking the whole thing just apart. So for example, I could say I want the word world or I want just TH out of the word this or this specific space Or I wanted to get everything in the end up to that point You can do things like that very very rapidly in Python and this if you're coming from another language I'm gonna tell you is extremely cool once you wrap your head around it. So we're gonna say print And we're going to take our variable now, we're going to put those brackets there that indicates we're getting a slice The format here is very simple. We want the start It colon and an end position So the start position in this case, we're gonna say the zero or the starting position And we're gonna end in five and what this is going to do is it's going to get the first five This is a zero based index Let's print this out and see what happens here One two three four five. Hello is five letters. There we go. So it did exactly what we're trying to do here Like I said it looks a little confusing at first, but once you start wrapping your head around it It's not super hard Now I want to start at the sixth position and I'm going to omit the ending and What we're doing here is we're saying We want to get from the sixth position all the way to the end So when you omit something it automatically defaults to the beginning or the end depending on which one you omit So the sixth position would be you guessed it World all the way over here Ta-da works as expected Let's go ahead and grab this and Let's try something a little bit different We're going to start at negative seven now you may be going wait what negative how can we have a negative seven? Well, when you have a negative you actually start from the end So because we're starting with a negative it's going to start back here and count backwards Actually pretty cool how that works. So let's run this and The last seven is string exclamation pretty pretty cool Try doing that with some other languages in some are going to be very cool Some are just going to completely Infuriate you depending on the language and now let's get a substring. We're gonna say from 6 to 11 and we want to get 6 to 11 just for our notes here See what that looks like and it is the world world Very cool very simple very easy Now if you're coming from another language, you're probably still stuck on this right here Don't worry whenever you see that negative symbol. Just think you're starting from the end and working backwards Now slicing is cool and all but it's not super helpful unless you can actually Automate the way of getting the number because no one wants to sit here and count things, right? So let's look at how to get the index or the position of something What I'm gonna do is I'm going to Say L equals And we're gonna look for the comma now if we look at our original string We've got this comma right here, but we don't know the position. It's at so I'm gonna hide that off the screen And we just want to know hey we want to look for this We're gonna do it two different ways. We're gonna say C equals SDR find This is what I love about Python. It's very very Intuitive fine does exactly what you think it would it find something It's gonna tell us what we're looking for is the L and it's gonna tell us where it's at Or if it doesn't find it I'm gonna say negative one if not found Let's go ahead and say print and I want to say find return C Let's run this see what it does So whoops actually misspelled find there easy fix So find return C. So it is at the 11th position.  We want the computer to do the work for us So we know this at the 11th position now if we change this To just something Let's just do a single t You see find return negative one So in this case when you see negative one you can say it's just simply not there It's not going to return a zero because remember zero is the starting position So Find is really really cool. But if you're coming from another language, you're probably looking for index of which is something totally different So I'm gonna say i equal sdr index We're gonna give it the same thing the l And now we want to this And we're gonna say find return i And let's see what this does now remember we have this t in here Where is t in here? It's well right there, but it's a lowercase not an uppercase So it should return a negative one or will it actually no it does not Instead it gives you what's called a value error substring not found This is a convenient way of saying hey that must exist or throw an error something. We're gonna cover in future videos Just know that find will not return an error and index will return an error So most of the time you're gonna want find but if you're coming from another language you think you want index and you really want find Oh super confusing sometimes We'll throw an error Just want to make sure we put that in there just in case And let's switch this back And you see they both return 11 Because we're looking for that comma remember index will throw an error find. We'll just simply return a negative one Wrapping this up. Let's go ahead and say we want to create a new string from the substring. How do we do that? So we want to say x equals sdr and we're going to slice that string We're going to emit the starting position because we want to go from the beginning And we only want to go to the position of this comma If that seems super confusing, let's slow way down. So we have a string And it says hello world comma. This is a string exclamation So we're looking for this guy right here, which we found at the 11th position And we're saying okay, so from the very start Hello world actually just going to copy this whole thing right down here Copy this put it right here as a comment There we go So we're going to say so from the very beginning right here All the way up to the position we find We want to create a string and call it x now. We want to take that and just simply print it out Hello world super super simple So quick recap Strings our first class objects in python. They are unicode by default there utf-8 Although you can specify some other way of doing it google's your friend if you need to do that immediately And you can do some really cool things like get the length Repeat it replace it split it make sure it starts with ends with upper lower Capitalization you can slice it dice it do whatever you want to do and you can search for or find things Within the string And if you need to throw an error if it doesn't exist you can use index which I do not recommend because It's not really a good idea to throw an error in your code most of the time and You can create your own strings from substrings very simply very easily I hope you enjoyed this video you can find the source code out on github.com If you need additional help myself and thousands of other developers are hanging out in the void realms facebook group This is a large group with lots of developers and we talk about everything technology related Not just the technology that you just watched and if you want official training I do develop courses out on udemy.com. This is official classroom style training If you go out there and the course you're looking for is just simply not there drop me a note I'm either working on it or I will actually develop it I will put a link down below for all three of those and as always Help me help you smash that like and subscribe button The more popular these videos become the more I'll create and publish out on youtube. Thank you for watching


Okay. Good morning, everyone. Welcome to the TMRG panel. My name is Anthony. I am based in London, working the sales team at GitLab, and I'll be moderating this conversation really soon. So why don't we start with some introductions? We can start off just introducing the panel. Natalia, would you like to go first? Sure. My name is Natalia, and I live in Kyiv, Ukraine, and I work as a staff front and engineer for Create Knowledge Team at GitLab. Liam? So I'm Liam. I've been here for one year and nine months. Majority of the time I've been in the recruiting team, but recently transitioned over to a new role within the people group based in Sydney. Very nice. Sophia? I am software engineer and test currently working for the monitor stage. I'm based in Sydney. And I am based in Vilnius, Lithuania. Sophia? Vilnius. Peter? Oh, I don't think we can hear you, Peter, and not quite. We'll let Peter sort of get his mark and we'll get combat for an introduction there. Why don't we kick off with the first question? So I guess, yeah, it's sort of given an overview. So how was your experience at GitLab been different than your experience at other companies? And I guess we can kick off with Sophia with that one. Hi, Sophia. Can you hear me? Yeah, I can hear you. I think there was just a lot of echo in maybe different tabs somewhere. No worries. So how was your experience at GitLab been different than your experience at other companies? I believe that GitLab has a way of living up to the values, which I have not had the ability to see in my professional experience so far, in the sense that GitLab truly lives up to it. It's a truly open and transparent company. Management does also uphold its values. And the fact that our very clear communication guidelines creates a very safe and open collaboration environment between our colleagues. Love it. And the same for you, Natalia, from your perspective, how is it different from your previous company? So the things that were different here that impressed me the most was flexibility and transparency. By flexibility, I mean how flexible we are in terms of working hours, working days, vacations, parental leave. I'm a working mom and for me it's essential to plan my day in a way I can spend time with my kid, and which might be totally inappropriate if we had more rigid business hours, right? I'm also a conference speaker and I love that Freedom GitLab gives me to take a day off when I need to schedule my talks. I never had this benefit before in any previous company. Speaking about transparency, this feature is truly impressive not only for me, but for anyone who asks me about my work. What processes do you have? What benefits do we offer? What is the compensation level? I can say, oh, it's on our handbook. And I want to add this value in our documentation first approach. Truly inspire people and companies to follow our values even outside GitLab. Yeah, I love that. I'm definitely really aligning with the values of the company, those examples there. And Liam and then Pete, yeah, Liam, we could create to hear from your perspective as well. Sure, I think echoing what Sophia said, I think we're a values driven organization. And a lot of other companies that I've worked in, it's been very much about appearance of values and externally facing. In GitLab, it's very much an internal mantra that we have to follow through on our values. And you see it every day at work. So we help others realize values and conversations in MRs and issues. And we have people not afraid to speak up on that as well. But I also think that we do remote working correctly. I've worked remotely in the past, but I've never felt a real sense of belonging as part of a bigger business. So I really do feel as much of the company as anybody else regardless of my location. Nothing that's been really important. Yeah, absolutely. I definitely agree that GitLab is like a pioneer in remote working for sure, leading the best practice on that. And I guess for Pete, same question to you. So how's your experience at GitLab in different than experience at other companies? Sure, just double checking that you can hear me now. Yeah, loud and clear. Great, so I just do an introduction as well. So I'm Peter Quinn based in Sydney, Australia, and I'm responsible for field marketing in the APJ region. So the biggest difference for me is definitely our company culture, which may sound odd to people because we don't physically sit next to a team member, but there's definitely a strong sense of belonging and a supportive company environment. We might not have any offices and we might be alone when we're working, but we're all alone together. We all had a day one, so we all know how it feels. Also, it's been mentioned a few times now, but our company values our building blocks. We all live there. We all know that every decision that is made within GitLab is based on a values first approach. And as an example of that, transparency is one of our core values. I had someone today send me a message on LinkedIn because I had found one of my field marketing issues just online. And he sent me a message and said, hey, just checking, is this meant to be public? And my response was, yeah, GitLab is a transparent company and everything we do is public by default. Love that. That's powerful. The shock or the surprise for people outside GitLab is so, yeah, sort of not normal. So that's powerful. Love that example. So I guess moving on to the next topic. What sort of ways do you feel that GitLab has made you feel accepted and supported at the company? Natalia, maybe you can kick yourself. Sure. It's just amazing how company cares about our mental health. It's not just words like we are caring. We have mindfulness calls, for example. And when I got the first symptoms of burnout, and it's a big deal in our industry, right? I felt safe to share this with my manager. I was strongly recommended to take time off to recover. And I would also like to mention our family and friends days when every employee in the company takes a day off to spend time with your beloved ones. This is especially valuable right now when we have a lockdown. Yeah. I love that. I love that. And so what would you say, I guess, moving on to Sophia, if you could chime in on that as well. Sure. I also believe that the fact that we are able to work remotely and truly asynchronous enabled me to be... I'm originally from another country. So I'm originally from Portugal, living in Lithuania, where my partner is from. It allows me to actually learn the culture here and being able to go back and see my family as often as possible. And the fact that this is possible to integrate with my work just makes me bring my best self to GitLab every day and truly appreciate the opportunity to be able to reconcile both worlds. Yeah. And that's a big factor, I guess, on people choosing where to work as well and having to make that decision either or. So having that freedom is powerful. Liam, if you finish off a view on that one. Yeah. 100% agree with everything that's been said about myself in Sydney. But I also think that the ability to have really kind of conversations and feel heard and that actions are put in place to remove some of those blockers and stresses that you potentially have at work. And I've had a few managers here at GitLab and I always really feel the servant leadership side and I really feel that is well established here. And I feel that managers truly have a sort of empathetic ear and provide layers of support when needed and when necessary as well. And I haven't had that in previous organizations. Yeah. Yeah, definitely the E-group and leadership management are very accountable for trying to live up to the values. And I guess on that same, you know, how does having a TMRG group sort of help you feel connected at GitLab? What role does that play in terms of your experience at the company? Sofia, maybe you can start. I think that also living in a country right now where the laws for LGBTQ plus are not so advanced, for example, for same-sex marriage or even having a civil partnership. The fact that the environment is not probably the best one for me to thrive in and to live out in the open. This does not happen in GitLab, right? So the fact that it's a company that highly respects the diversity is making me feel accepted and belonged and therefore bringing myself to work. Yeah, definitely. There's loads of different groups that people can get involved in. Liam, I know you're quite involved in groups. What's your perspective on this? Yeah, for me, it just provides a place at work that allows me to represent myself and have other people who have similar or the same lived experience that I have to act as a sounding board of things that I'm experiencing both externally and internally. And it's also a place to be heard and develop actions and to provide some equity for those who are part of the group, again, externally and internally. Some people, as Sofia mentioned, may not be able to live this out in their personal lives, but there is definitely a place for everyone at GitLab. For me, it's been really, really, truly beneficial. Absolutely. Yeah, absolutely. It's actually encouraged. And yeah, I completely agree with you. It provides a better experience, a better environment for working. Pete, how about you? So for me, the resource groups are a platform that allows us to voice our concerns and be heard, but it also allows us to listen to other teammates or team members and what they're experiencing around the world. To me, it's a real privilege to have team members share their experiences, share their stories with me in a safe environment. And together, that's how we build trust and build a connection between team members. Yeah. Thank you for sharing that. I guess maybe coming up towards the end and wrapping up, how does the TMRG specifically work at GitLab? What kind of things are actually helping you feel like you belong at GitLab? Sophia? We have actually two channels, one public channel and one private channel in Slack, where we can voice more sensitive issues. And this enables us to really have private sharing. And since the team is so diverse and so all over the world, there are different contexts about LGBTQ issues around the world. And the fact that we can discuss them with our own experience and context is very valuable. Yeah. And Liam, would you second that? What are your thoughts? 100%. I think it's allowed me to grow even more conscious of the differences, even when you're a part of a community. So sometimes you need to be an ally, even in a group that you've identified with. And it's been able to help me gain new allies and new relations with people who probably I would never have had if I didn't work at GitLab as well and have the different contexts globally for different matters and different things. So it's really allowed me to have that lens to the wider communities that I'm a part of. Yeah. Pete, sort of finishing off with you on that. Do you have anything in addition to kind of comment on sort of specifically how the TMRG group or groups that you may be a part of help you feel like you connected at GitLab? Yeah. So often I'm on team member resource group calls where I find myself not contributing to the conversation because of my lack of knowledge or experience on the matter. One could easily feel that they don't belong in that situation. But in fact, it makes me feel even a stronger sense of belonging because I'm there, I'm listening, I'm learning, and I'm able to take away that knowledge and share it with the community that I'm in or the region in which I live and to spread the word and communicate those messages out. So there is still that belonging factor to it. Yeah. That's true. And sometimes it is. Like you said, it's just about joining the call or joining just to listen and learn. And that's also given the opportunity and transparency being able to do that is a unique as well. Working here.  What areas would you say there's still room for improvement at GitLab when talking about sort of, yeah, TMRB and diversity? Natalia, let's start with you. Yeah. I would definitely like to see more diversity in staff plus roles in engineering and to give a quick background for those who are outside GitLab. If you're an engineer at GitLab, you have two different paths in terms of your career growing. You can go to management, which is more of a classical way becoming a manager, director, and so on. But you also have an individual contributor path where after senior we have staffs, then we have distinguished and engineering fellows. And while we have certain goals for leadership in terms of diversity, we still don't have these goals in the senior engineering individual contributor path and it would be really nice to see some initiatives in this area. Yeah. And Sofia, what are your thoughts on that with Paris for improvement? I think GitLab is on a very good path because the fact that actually there is time allocated to do diversity inclusion and belonging initiatives, it's very important that this is being prioritized by the company. Although I think that it's also important to consider the intersectionality of these groups and where we can actually join and speak stronger instead of perhaps dividing certain groups. So perhaps having a conversation is necessary between the groups more often. Yeah. And sort of finishing off here with Liam, what are your thoughts on improvement? For sure. I think representation is key and I think being more purposeful on the highs that we make, particularly inside leadership. I think often companies get bogged down in big names and previous experience at big companies and big organizations where historically and systematically underrepresented groups haven't had the opportunity to work at those big organizations, particularly inside leadership. So if we don't help break that glass ceiling and provide those opportunities, we may become part of the issue. So having more conversations around how we can attract more people from underrepresented groups into leadership positions particularly I think would be a great next step. Yeah. There seems to be a theme, I guess, across all the sort of thoughts around sort of leadership and being more, I guess, intentional in sort of management and leadership position. So interesting. We have a few minutes left just before the end. I don't see any questions in the Google Docs. I'm wondering if Pete, if you had any thoughts on that particular area as well, just I guess putting you on the spot, any areas that you think that we could improve on that? I agree with Liam. I think leadership definitely plays a big role in how we kind of improve or amplify people in the business to take on those leadership type positions and I guess share the diversity, inclusion, belonging mantra across the leadership level, at the leadership level. Cool. Thank you for sharing that. So I guess let me just have a look. I don't see any questions here. Are there any sort of, given the last sort of three or four minutes, any final comments any of you would like to make or anything that comes to mind in addition to the comments you've shared so far? Sure. I'm happy to just mention that we have our TMRGs, but they're not full and final. So if you do join GitLab and you don't see yourself represented in one of the TMRGs that are already here, you have the ability to create a new one and get support and guidance on that. So don't think that just because it isn't already created you're not welcome and you're not represented here. I'm 100% more than happy to start those groups off. Perfect. I love that. I think that's a great way to end. So yeah, thank you very much everyone. It was great to hear your thoughts and have this conversation and hopefully it's helped people who attended today. Have a good day. Thanks everyone. Bye-bye.


Good morning traders, welcome to another Tick Mill chart here with me Patrick Manley. I want to draw your attention this morning to a developing opportunity in the Sterling Swiss on the daily time frame in this ascending trend channel here and we have a potential double top at this 130 level. We've got some nice momentum divergence here as well, the bearish rejection candle yesterday and I'm looking now for a break of the 129 level and the weekly pivot here 128-96 set short positions targeting initially a test of the 127 70 level which is the ascending trend channel support and weekly range support from there. Watch for bullish reversal patterns long positions to trade up into this 132 side target. As always traders plan the trade, trade the plan most importantly manage your risk. Until next time thanks very much


Good afternoon all. Thank you for inviting me. Thank you minister For those inspiring words absolutely appropriate about what's happening in Africa right now And I thank the Institute for inviting me for Irish aid for having me I give this talk this afternoon The title of my talk is about Africa so pathways to inclusive sustainable development of which the private sector plays a part Let me start off this way. You know, we we have a view of Africa because that's our mandate, but also we have a view of the world because we believe the world is impacting on Africa So what we see? globally, so what I see is the convergence of Three crisis what I call a perfect storm. So what you have is a initially we had a banking crisis That's one And now we've got a sovereign debt crisis. It's become more evident and and did we have a crisis of low growth and no jobs? So three three things coming together is what we call a perfect storm And so we watch and we've seen the what is what took place in Europe this week The whole deal at which the Greeks have decided to do a referendum on interesting I don't think that's that's probably will be helpful in the short term But we hope that thing things tend to turn out. Okay, and what we see basically is is is Europe? Focusing more on Stabilization which it should stabilize the situation and less on growth and structural reforms I guess that that would be the second phase and that's what is is required all of that is impacting on Africa But I must say that Africa is looking okay, and in my talk, I'll have three sections Which is what Africa looks like now what will it look like going forward? We go 50 years and so forth and what are the challenges and what was the different roles as a bank for us? Well, what should we be doing and what should our partners be doing now? If you take a look at this chart, you'll see that Africa has been the third fastest growing region In the world after Asia really in the Middle East So it's done very well in the last ten years and in fact coming out of the financial crisis Africa was growing something like six point two percent and it deep to about two point Six percent in two or nine and then it came back up And last year we recorded four point nine percent and this year expect something like five point seven percent and next year An average rate of orders of the order of more six six point one percent above six again So quite robust resilient growth in the last ten years And I think that there's got to do with the some of the partners. We've done a good job in helping Africa I must say that African the African economy is still small by the way by global standards It's size is about one point seven trillion. I'm going to use American dollars That's what we use and which is the same size as the Hall of Brazil or Russia But the population is there is a billion people at least so population Economic size you can see that the the income the capital can only be smaller But by definition so and and what's been missing in this strong growth in Africa is really what I call Inclusion inclusive growth, which is really explains the Arab Spring and it's including inclusion in many dimensions I'll come to this in a moment. So it's good growth strong growth, but not inclusive enough Wait a way where is African growth coming from? It's partly a commodity story. We've got a lot of countries in Africa with oil and gas various minerals and so forth With the commodity boom the commodity supercycle. That's been driving a lot of the growth in Africa However, the commodity story does not explain 30% of the growth in Africa what explains it is the domestic markets is the domestic markets You have had a you have got a a Bayesian in Middle class in Africa coming through I'll show you a slide later We've just done a paper which has become very popular We estimate that the middle of class in Africa is about 300 million people, which is 30% However, I hasten to say only half of that is stable mid-middle class The other half is unstable those people could fall back into poverty very quickly due to any shock bead political You know sharks governance issues Loss of a job a death in the family But that that 300 million people is responsible for the domestic demand that that that is growing in Africa Suddenly if you speak to a lot of the companies in the consumer sector, they'll tell you that their biggest margins Probably in Africa and nowhere else because you know of this class of people Um, but also a lot of African countries have done very well in terms of managing their economies I think the one thing that's often missed in my view When we when we analyze the structural adjustment that took place in Africa in the 80s where everyone concluded that it didn't work There was no growth What we forgot is that the it takes time it takes time and I think the fruits of structural adjustment is only showing now And it's it's it's it's likely about the quality of people that it produced who are running central banks Who are running ministers of finance good economic managers is what really come out of the structural reforms in Africa Um, also agriculture in some some parts of Africa is doing well The more needs to be done here I think without I think that with Africa if if you don't deal with the issue of Lentai cruel some kind of ownership rights the way vietnam did Will never make progress on agriculture and this is where 65 of Africans live they live in on on agriculture We'll never make progress, but again, it's a very difficult space in my view. It's very political Sometimes it's strongly cultural the chiefs have something to say in it in terms of real land ownership It's very complex but not easy But if we don't deal with it, we'll never get Africans quickly enough out out out out of poverty Now this is my this is the revolution slide A if just an example of of inclusive growth that's been missing in Africa If you take if you take the the green bars from 1984 to 2010 they show you the rate of unemployment in tunisia averaging 14 percent And this is what a lot of people were tracking or stable. Well, it's 14 might go down at some point But what what people were not focusing on including ourselves is the is the yellowish Light yellowish bar where it shows the unemployment of university graduates Which is rising from 2.3 to 84 To to 20 percent if not higher now now we think it's not more like 30 percent And that's your revolution taking place educated people smart people Who you know who don't have jobs? This is a problem. So so our our growth has not been been inclusive at all Now now I've already said inclusion is an issue the other issue around this growth in Africa is the political You know backdrop to it The the the voice and accountability is a problem in Africa That was the issue with banali in egypt in libya and everywhere else And the issue whole issue of the youth bulge Is an issue so while africa is growing there are risks and and the risks around inclusive growth in these components Just some of the growth figures For a few african countries we estimate that this year the fastest growing country is going to be gana Growing at least a 12 percent people turn the 12 percent is conservative So gana they've discovered oil as well so that that helps and then Ethiopia growing at 10 percent Doesn't anyone know how many people there are in Ethiopia? This is amazing. This is the first time the question has been answered. No hesitation If I ask the same question in africa in africa people say 10 million but in ireland 80 million it's actually 85 million 85 million the the point I'm making is that the the the the earlier point I was making about This the middle of the pyramid this 30 percent of the african population is partly responsible For Ethiopia's 10 percent rate of growth if you've been to a desert about flight and you're watching the The the buildings that are mushroomed all over the place is partially domestic investors But a lot of the european diaspora itself. So it's an investment driven growth Some people say without the figure and so forth But but if you go to Ethiopia you will see that it's really growing strongly Some of the countries that are growing strongly you see the drc. That's a resource effect Is in babu. That's a pure economic recovery effect and then south africa showing a more You know mutant growth at 3.6 percent quite low In you know, Nigeria 6.9 percent And then ivory coast because of the of the standard political standard of growing at a negative 7 percent And then up up north where we live in tunisia 1.1 libya minus 19 percent in egypt 1.6 percent So so this is almost like a twin trek africa north africa growing with negative rate of growth This is revolution and then sub-saharan africa growing much strongly with average of about 5.5 percent rate of growth so overall Okay Into africa trade is still weak It's still about 12 percent of you know of of trade with with globally. It's quite weak There are many reasons why africans don't trade with each other. It's about infrastructure. It's about weak manufacturing sectors. There are a lot of sectors Effectors, but clearly this is not a strong point original integration is is quite weak Now this slide you can't see what i've shown is if if you get the hard copy slides just to show you Progress has been made in africa in different areas In poverty reduction, suddenly poverty reduction. The progress has been made There are fewer poorer africans than they were you know 20 years ago progress on infrastructure development, suddenly there's been an improvement Progress in the private sector in the business climate. There has been an improvement if you look at the business climate If compared to where africa was 10 years ago, a lot has changed. There's still there's still a lot to do There's still a lot to do. It's not easy infrastructure Improvement, original integration very very little Agriculture and food security Small improvement others wouldn't be having this problem in the Horn of Africa It's quite clear that the Horn of Africa issue is not so much about Drought but rather more about governance because a shortage of food does not have to be a famine It becomes a famine if there's a governance failure. Somalia is the elephant in the room I did another report about a few months ago on the issue of piracy In the CNN did a something on it last week on the paper Which is highly costly and this explains what's going on in the Horn of Africa Gender and human development Progress it could be better frankly or governance and transparency. I'll show you a slide later africa has made Progress in a lot of the governance areas with the exception of voice and accountability That's that's still a gap and then in terms of political fragility Number of fragile states again. There's been been improvement overall. So so it's all looking positive, but you know things could be could be faster I think I'm going to skip skip these slides Now the one area that I want to spend a few minutes on is on infrastructure development This is a big gap in Africa the the we estimate that the africa needs something like 93 billion dollars a year worth of infrastructure investments from all the partners Currently only half of that is being funded. So easily 45 billion Pay goes unfunded and that is very costly to africans costing africa something like 3 percentage points in GDP growth So if you're just to close the infrastructure Gap you just add another 3 percent to grow Huge huge gap and that gap is right across the road and board It's in it's in you know length of the paved roads road density It's still in telephony Although a lot has been achieved in terms of mobile telephony It's in generation capacity In fact, we know that africa loses something like 30 percent in private productivity due to power outages Just power outages 30 percent of productivity gone You know, it's in water and sanitation Right across the board. This is a big issue and as a bank Almost 70 percent of our resources Invested in infrastructure of one from one another because we believe this is where change is going to come from Absolutely Then then just some some some wonderful maps that we've done. These are the missing the red are the missing power lines in africa You know green is what is in place Red is the missing power lines Right right across, you know So Yeah, that's missing power and then we have Missing roads as well. We also map these. We know which roads need to be put in place all the corridors and so forth So there's a lot that needs to be done Even in terms of the ict the the missing cables. I think they're going on to auto the the missing cables for both undersea and On the land we should be put in place and have not been put in place But and some of these projects have already been sculpted and they've been mapped out. We have a whole database of which projects are ready for investment But the investment just isn't there to to finance these projects, but we have all the information at the bank Um, I mentioned earlier about agriculture. I'm going to skip that. This is a useful picture on governance You can see if you just focus on the on the green line Uh, there's no pointer. You can see that the biggest gap really is on is on voice a voice and accountability. This is where Africa is not Doing doing well and perhaps if you are thinking of intervening or In the whole political space Just making sure that civil society Governments are more accountable. This is where a lot of work needs needs needs to be done in our view But there's improvement in other areas Even issues it has like corruption and and so forth government effectiveness political stability you know But but but this is the big one The other issue where there's a gap in my view is whole area of science and technology Higher education science and technology if you look at the enrollments Because no country can develop without investing in hard research Or at least in in some kind of vocational training in the in the hard Skills you can see south from Africa in Africa lower than m ocd east asia south korea costa rica is as an example of the country Again, we're working in these needs to be done here Now now I referred earlier to the to the domestic economy the domestic demand in africa growing This isn't an estimate our estimate of the the middle of the pyramid in africa or the middle class Is been growing you can see from 1980 something like, you know, 28% about 33% end of last year And it's about 300 million people They're responsible for for quite a large part of consumption In the on assets and we've tried to measure these middle class from different angles in terms of what they consume What are they on and what they save? We're coming up with the same figure 300 million of which half is stable 150 stable the other 150 is unstable So so it's something to Not to be scoffed not to be scoffed us. I also want to mention something that has been assisting Growth in africa is the africans Abroad africans not living outside their countries We estimate that 64% Of africans do not live in their countries. So they live and 64% live in africa And then the the remainder then live in other countries outside other regions outside africa And so and and these africans the african draspora send home something like 40 billion dollars a year 40 billion dollars a year and that's the same as the amount of oda that africa receives In fact, if in foreign direct investment in africa is usually the order of 50 billion. So if you add the diaspora Remittances that's the foreign direct investment.  So it's impact Therefore is not what can I say it's not as as you can leverage it. You can't leverage like you would do with Fdi or with oda you you can't leverage it But but it's it's not to be scoffed at is it's a big chunk and I think more effort should be made to see how This could be harnessed and pulled together. So it becomes an effective partner to oda flows and fdi flows I know that in kenya in their recent born issue For financing infrastructure. They've tapped tapped into the the diaspora remittances, so so that that that that's encouraging Just the figures to show you what I was talking about The remittances for this oda fdi Private debt and portfolio equity. This is a 208 figure. So a little bit outdated But the ballpark is what it is for the first three that that's really the ballpark Where do we think africa is headed If you look at the current gdp of africa is something like 1.7 trillion dollars In 50 years time, we estimated to be about about 15 trillion 15 trillion and we've plotted it every year all the way up to 50 years time That's where we think it is headed under the current growth conditions Now if if you look at the per capita gdp currently at below $2,000 per person in 50 years time We think it'll be sitting at about just over 6,000 and it is still below south korea's gdp current south korea's gdp per capita South korea is currently about what 17,000 or something. So africa will only get to 6,000 You know in 50 years time Unless we're able to to to push here and there to make sure that it accelerates Population, I think we've all been reading the the un population report You can see currently africa has just over a billion people And we think that in 50 years time the population will be more like 2.6 billion people Basically the the the extra people that will be added to the world between now and the next 50 years half of those will come from africa So you can see that the potential population pressure that's going to come through My team has just shown me a draft report which I was reading as I was coming Which I'm still cleaning up about the problem of the aging population africa We never reflect on the aging issue in africa We estimate right now that 3.6 percent of the african population is over 65 So that that's that's already in that retirement age And that's in over time is going to grow to as much as 10 percent over 50 years 10 percent Which is your typical, you know Percentage for the what you call the public the retirees in any society. I don't know what it is in Ireland Is it as much as 10 percent? Maybe that's too high So it's going to change a lot the dynamics of dependency going forward now By region the the the regions which will have the largest population are going to be east africa and west africa East africa and west africa very easy Well, you know, that's where the the back of the people are southern africa In central africa might might much lower That's where the those are the big population areas in africa now our urban population Currently the urban population is about 40 percent In africa in about 50 years We think it's going to rise to closer to 80 percent it'll be more like what you see in Ireland Of that order. So think of the pressure that's going to build on these africans That the minister was referring to On infrastructure on schools on health So a lot needs to be done to plan this african city is better If it doesn't happen, this is what is more likely to happen over time Now child mortality rates those those will improve. Absolutely AIDS death rates again. We see we see an improvement over time. It's already showing Absolutely life expectancy life expectancy Our kind estimates that Currently we know that the average life expectancy in africa is something like 55 years In about 50 years time is going to move to 70 So again, you can see the issue of the aging population the whole dependency ratio It is major implications in terms of investing in In in in contractual savings your life companies and so forth A lot of the african countries don't have an organized pension fund industry The whole construction contractual serving space needs to be to be dealt with and dealt with quickly Now literacy is going to improve a lot. It's going to move much closer to 90 percent over time So this is the africa that we see Going forward and we've all but by the way we produced a whole report on it Which was reviewed in the wall street journal Two weeks ago You know, it says africa in 50 years time the road towards inclusive growth is a lot. It's a very interesting paper If I think I did send it, I hope it's to be circulated to whoever wants to see it. It's free We're not going to charge you for it Right, but now i'm just going to double back in my third part of the presentation Looking at the development challenges and i'm going to be repeating here, but i'll try to move faster It's infrastructure. That's a big challenge for africa as a bank will focus on it Another issue is it really has to do with how africa manages what we call these new emerging partners china, russia, india, brazil tech, south korea and so forth There's certainly sources of of dynamism of energy Some of of exports a trading activity and so forth But africa does need a strategy to manage these these relationships more effectively for maximum benefit Certainly regional integration is a challenge that africa again must, you know, focus on on regional integration. I think that perhaps Rather focusing on the trading of goods and services. There's an issue about People movement a lot needs to be done about that movement of people and then the others about movement of capital Making sure that those two can move freely that will do a lot to purchase the regional integration pillar Improving the investment climate is something that that that needs still needs to be done a lot has been achieved More needs to be done and then promoting what I call direct domestic investment I think it's one thing to be focused on foreign direct investment and then governments forget about Developing the local entrepreneurs who become, you know, credible partners for the foreign investors For jv's and so forth again a lot needs to be done in in domestic direct investment And sm sms we have estimated In some study we've done that they're about A 65 million small to medium scale enterprises in africa And if you were to put a market value on them, their value would be something like 450 billion dollars Which is about a quarter of africa's cross domestic product And that makes a lot of sense because we know that at least 25 percent of economic activity in africa Comes from the informal sector from this sms sector. It's a sector that needs a lot of support The bulk of african people survive and and live on it Certainly another issue is economic transformation, especially for countries that are resource rich Botswana, Nigeria DRC a lot needs to be done to develop other sectors other than the natural resources That that are driving the the the economy Again, I've talked earlier about the issue of the population growth How to how should africa balance this demographic dividend, which is creating a Stable middle class overall over time With poverty rejection challenges because even higher population growth You have poverty coming through very quickly if growth is not coming through To support the population The issue of whole inclusive growth and youth unemployment High education vocational skills is something that in nature looked at Financial inclusion were very encouraged by what we see in kanya with the development of the mpesa You know technology Where people are able to move money Using mobile telephony and so forth to me. That's something that should be promoted But we know that it's not easy to manage the risks It's a new way of banking so naturally presents us with regulatory challenges But if those can be overcome is one way to really bring people Into the financial sector. I've talked earlier about agriculture that Here I really feel that if we as long as we don't deal with some kind of Some kind of property rights entitlements, which is very difficult to deal with We can't make much progress on in the architectural sector. All you can do is support here and there, but I'm not certain We can make a make a lot of progress On domestic resource mobilization African countries lose a lot from companies that invade taxes individuals that invade taxes mining companies and so forth But but also we know that afric african countries can do more to deepen their capital markets because these are also source of a source of domestic resources As I say, I'm very encouraged by what I see in kenya in terms of deepening capital markets getting the bone market going You know launching infrastructure bonds for targeted infrastructure all that is welcome suddenly as a bank This is something that that would like to support and and think about it, you know for for every dollar that Africa receives in ODA Africa itself raises ten dollars So there is something there to to work with something to work with there's a big potential It's after getting something like 40 billion in ODA itself is raising something like 400 billion And more and more could be done The second point is about is about natural resources. I think that african countries must Put in place or develop sovereign world funds if they've got natural resources Botswana has done an excellent job in that that that's already a model to follow I kind of like gabong Nigeria now you've got Uganda coming through they should all Develop or put in place sovereign world funds So these the revenues of natural resources are managed transparently And then you can do a three-way asset allocation, which is support the current expenditure, you know from from the revenues number two Invest in infrastructure number three lock away a portion for future generations, which is tucked away somewhere You know, so so so that is my I feel very strong about this point about You know how natural resources are managed in Africa Uh, it can't be that you know natural having natural resources is a cast always a cast it can't be surely It's an opportunity dealing with illicit financial flows. I've already referred to piracy as a big issue Just to give you an example The direct and indirect costs of piracy in in the uh, seychelles is something like four percent of gdp Everything with tourism fisheries Cost of insurance and all of that it is huge. It's a big issue. I should be down to Leveraging or da for private sector support I think I think it's time to reflect on how the african private sector or whoever is investing the private sector in africa Can work with Oda to to leverage to get more for for for for for for development It may even be worth from time to time considering Oda and some kind of insurance. It only comes in when a specific event Okay, what is called an insurance approach? So these are the issues that we think Should be done in africa given the scenario of where africa is right now Where it is most likely to be in 50 years time and what we think needs needs to be done To get there let me stop here for now and i'm happy to take questions