U.S. Markets closed

South Africa Can Turn Brain Drain Into Brain Gain

PALO ALTO, CA--(Marketwired - Jul 15, 2013) - South Africa's talent migration abroad has created a valuable knowledge network and an untapped asset base that can further the competitiveness of the country, reports The SABLE Accelerator, a global group of South African expats advancing commercial innovation and exchange for their home country. SABLE (South African Business Link to Experts) is based in Silicon Valley.

While many of South Africa's best and brightest university graduates have left the country during the past 40 years to gain career experience, influential contacts and positions of prominence abroad, a new global alumni survey by Rhodes University in Grahamstown, South Africa, shows this so-called "brain drain" could actually translate to significant "brain gain," both onshore and offshore.

A sizable 72 percent of Old Rhodian expats living in more than 20 overseas countries believe their skills and knowledge would be useful and valuable to South Africa, and 48 percent say they would be interested in learning more about incentives to relocate back to South Africa.

Rhodes University conducted a comprehensive online survey of its alumni in May 2013 with the help of GlobalFluency (an international marketing firm) and The SABLE Accelerator. The survey assessed the input of 957 participants from 22 countries, and 40 percent of the respondents (387) currently reside abroad. Countries where Old Rhodian survey respondents are living include South Africa, the U.S., Canada, England, Scotland, Ireland, Germany, Italy, Greece, Switzerland, New Zealand, Australia, Hong Kong/China, Bermuda, India, Kenya, Zambia, Botswana, Malawi, Namibia and Zimbabwe.

Key findings from the survey on international Rhodes University graduates show that:

  • While 90 percent of Old Rhodians living abroad are satisfied with their lifestyle or professional position overseas, 32 percent would consider returning to or retiring in South Africa, and 28 percent are undecided.
  • Forty percent of Old Rhodians living abroad consider themselves ambassadors and champions of the new South Africa, and 33 percent visit South Africa more than once a year.
  • The majority of these global South Africans still identify with their home country; 36 percent say they have a strong emotional and cultural attachment, and 51 percent retain affinity and connections.
  • Thirty-six percent of Old Rhodians living abroad view transformation in South Africa positively compared to 24 percent who view it negatively; 34 percent are neutral.
  • Friends and family remain the primary way for 81 percent of offshore Old Rhodians to stay connected to news and developments in South Africa; other important sources include Internet websites (68 percent), international media (47 percent), and social media groups (41 percent).

"There is a massive pool of predisposed South African expatriate talent waiting to be tapped globally," noted Donovan Neale-May, Managing Partner of The SABLE Accelerator and Chairman of the Rhodes University Trust USA. "These standouts in many fields of endeavor are willing and eager to give back to the country. They just need to be invited, engaged and recognized through a formal process of interaction."

"Our partnership with SABLE in conducting this survey of our graduates is designed to ensure that we contribute to discussions of national and international importance," added Dr. Saleem Badat, Vice Chancellor of Rhodes University. "It will, in turn, help us to engage at an intellectual and institutional level with issues of interest to our alumni."

The SABLE initiative (http://www.sablenetwork.com), launched in August of 2012, is gaining real traction. It has a global advisory board of more than 50 illustrious business leaders, financiers, academics, researchers, consultants, medical and life science professionals who trace their roots back to South Africa. SABLE also has cooperating agreements with leading government-funded research centers, technology transfer offices of leading universities, diverse funding sources, incubators, trade and economic development agencies, as well as advocacy groups advancing both innovation and entrepreneurship. In addition, SABLE is working with a diverse group of emerging-growth companies from South Africa that are seeking access to the North American market.

A big part of the SABLE value proposition is the formation of an elite online community of expert global South Africans who possess knowledge, expertise, influence and access abroad. SABLE is using a customized version of the MentorCloud SaaS platform to enable these individuals to import their LinkedIn profiles, present their credentials and specify whether they wish to contribute as a consult, mentor, coach, speaker, lecturer, investor or board member. They will also be able to provide pro-bono coaching and mentoring services, extend their professional networks, and monetize their time and expertise.

South African-based innovators will also be able to register and post information about their intellectual property or new business models on the SABLE website with the aim of furthering links to experts and sources of funding and business development support worldwide. They will also be able to search for compatible and relevant global experts to help them take their IP or business models to market, as well as provide advice, coaching, mentoring and introductions.

About The SABLE Accelerator

The SABLE Accelerator (South African Business Link to Experts) aims to further South Africa's economic interests through global knowledge transfer and the growth of a trusted expert network of expatriate South Africans willing to contribute back to their country of birth through coaching mentoring, consulting, advising, teaching, training, funding or donating. SABLE consultants, advisors and academic faculty include a wide range of successful business leaders, international domain experts, educators, venture capitalists, consultants, authors, professional service providers, government representatives, advertising and marketing gurus, trade and commerce experts, as well as nonprofit innovators. More information is available at www.sablenetwork.com.

About Rhodes University

Rhodes University (www.ru.ac.za) is one of South Africa's top five research-intensive tertiary institutions. Based in the academic enclave of Grahamstown near Port Elizabeth in the Eastern Cape province, it has produced graduates of outstanding quality for 109 years. The smallest university in the country with 7,500 students, it boasts some of the highest graduation and throughput rates and is currently host to six national research chairs.

  • Russian Olympian Who Wore an 'I Don't Do Doping' Slogan Shirt Just Failed Her Drug Test

    Russian Olympian Who Wore an 'I Don't Do Doping' Slogan Shirt Just Failed Her Drug Test

    Nadezhda Sergeeva, pilot of the two-woman bobsled team representing the Olympic Athletes from Russia, proudly proclaimed her anti-doping stance when she appeared in a YouTube video wearing a sweatshirt with the slogan “I don’t do doping” stamped brightly across the front. The federation says that the bobsledder does not have a prescription for the drug.

  • Buffett says Berkshire can handle $400 billion mega-catastrophe

    Buffett says Berkshire can handle $400 billion mega-catastrophe

    Warren Buffett says: Bring it on. In his annual letter to shareholders of Berkshire Hathaway Inc , Buffett said "no company comes close" to his conglomerate in its ability to financially withstand even a mega-catastrophe that causes $400 billion of insurance losses. Buffett said the odds of such a catastrophe in any year is just 2 percent, but that Berkshire would lose only about $12 billion, a sum more than offset by annual profits from its non-insurance businesses.

  • Flu Killed 13 Children Last Week But May Be Winding Down, CDC Says

    Flu Killed 13 Children Last Week But May Be Winding Down, CDC Says

    This year’s sweeping flu season may be starting to wind down, but activity is still high throughout the country, according to the CDC’s latest update. With weeks of flu season potentially still to go, that number is likely to climb higher. Illness and hospitalization rates also remain high, with most of the continental U.S. reporting widespread flu activity.

  • Democrats distance themselves from Nancy Pelosi
    Fox Business Videos

    Democrats distance themselves from Nancy Pelosi

    Former President George W. Bush Deputy Assistant Brad Blakeman discusses why Democrats are starting to disengage from Senate Minority Leader Nancy Pelosi.

  • Here's How Much Bitcoin Elon Musk Owns

    Here's How Much Bitcoin Elon Musk Owns

    Musk revealed this week on Twitter how much Bitcoin he owns—and it’s not much. Musk shed light on his bitcoin ownership in response to a question from a Twitter follower asking why there were so many bots impersonating him to push cryptocurrency scams. “What’s with all the ETH spam?” the Twitter user asked, referring to the cryptocurrency Ethereum.

  • Latest Mueller indictment spells trouble for bankers, too
    Associated Press

    Latest Mueller indictment spells trouble for bankers, too

    Recently filed federal charges against President Donald Trump's ex-campaign chairman Paul Manafort could also pose legal and regulatory risks for the banks that loaned him millions of dollars against his New York real estate in recent years. The most serious exposure may be for a Rhode Island-based bank that employed a "conspirator" in Manafort's scheme to obtain a loan he couldn't afford, according to the 32-count new indictment unsealed this week. Dubbed "Lender B" in court papers, Citizens Bank not only lent Manafort $3.4 million based off of fraudulent documents but, in another case, appeared to help Manafort avoid being caught by sending back a crudely falsified financial statement that had been sent to them from a Manafort associate, according to federal prosecutors.

  • Retiring at 62 vs. 70: Pros and Cons
    Motley Fool

    Retiring at 62 vs. 70: Pros and Cons

    When most people think of retirement planning, they think about how much money they need to save. Social Security benefits play a major role in deciding your retirement age, though it's important to remember that claiming benefits and actually retiring don't always go hand in hand. The earliest you can claim Social Security benefits is age 62, but you'll receive a cut in benefits for every month you claim before your full retirement age (FRA), which is between 65 and 67, depending on the year you were born.

  • These 3 Dividend Stocks Offer Shares at a Discount
    Motley Fool

    These 3 Dividend Stocks Offer Shares at a Discount

    Dividend stocks can help investors benefit from the power of compounding. By reinvesting dividend payments to purchase additional shares of stock, you'll see the amount of income you receive grow over time, building on itself and creating a positive-feedback loop that can eventually produce huge amounts of income. In particular, Aqua America (NYSE: WTR), Franco-Nevada (NYSE: FNV), and Student Transportation (NASDAQ: STB) are three stocks that you can buy more cheaply through dividend reinvestment than you'll get on the open market.

  • These companies are cutting ties with the NRA
    Yahoo Finance

    These companies are cutting ties with the NRA

    In the wake of the mass shooting in a Florida high school last week, companies are dropping their partnerships with the National Rifle Association (NRA), which touts 5 million members. According to a list compiled by ThinkProgress, an advocacy organization, there are at least 22 corporations, including car-rental companies and financial institutions that have been offering discounts to NRA members. –First National Bank of Omaha: The largest privately held bank announced it will stop issuing the NRA Visa Card due to “customer feedback” on Thursday.

  • Trump Said to Weigh 'Red Flag' Orders to Take Guns Away Quickly

    Trump Said to Weigh 'Red Flag' Orders to Take Guns Away Quickly

    The White House is considering the idea of using restraining orders to take firearms away from people considered dangerous as part of its response to last week’s massacre at a Florida high school, two people familiar with the matter said. Under extreme risk protection orders, which are also known as red flag laws or gun violence restraining orders, firearms can be confiscated from people found to be at risk. The White House is studying an Indiana version of the law, and is considering other measures as well, according to the people, who requested anonymity to discuss policy deliberations.

  • Lisa Marie Presley Sues Manager for 'Reckless Mismanagement' of $100 Million Elvis Fortune

    Lisa Marie Presley Sues Manager for 'Reckless Mismanagement' of $100 Million Elvis Fortune

    Lisa Marie Presley and her financial manager Barry Siegel are in a legal battle after it was revealed that she’s $16.7 million in debt — Presley going after his “reckless and negligent mismanagement” of her inherited estate and Siegel claiming she “squandered” her own fortune due to her “excessive spending” habits. Much of that, she alleges, began in 2005 when Siegel sold 85 percent of her interest in Elvis Presley Enterprises in order to align himself with a famous investor tied to the holding company of American Idol. By 2016, Presley claims Siegel had liquidated almost all of the trust’s remaining principles — especially after the Idol holding company went bankrupt.

  • US asks judge to approve seizure of Pharma Bro's assets
    Associated Press

    US asks judge to approve seizure of Pharma Bro's assets

    NEW YORK (AP) — "Pharma Bro" Martin Shkreli appeared in court Friday for the first time since a judge locked him up for his online antics, and the brash former pharmaceutical CEO had a new look since his bail was revoked in September: a scruffy beard that made his appearance less boyish. "Under the circumstances, I think he's doing remarkably well," his attorney, Ben Brafman, told reporters when asked about his client's stint in a fortress-like federal jail in Brooklyn. Shkreli was convicted on charges he cheated investors in two failed hedge funds.

  • New tax scam can cause entire refund to vanish
    KGO – San Francisco

    New tax scam can cause entire refund to vanish

    The IRS told the I-Team that people are being targeted by scams from all directions. Not only are there fake IRS calls, but there are new tax scams gaining popularity, including one where your entire tax return can vanish.

  • Michael B. Jordan Had a Hilarious Response to an Internet Troll's Judgmental Opinion

    Michael B. Jordan Had a Hilarious Response to an Internet Troll's Judgmental Opinion

    Michael B. Jordan’s charismatic turn as villain Erik Killmonger in Black Panther has commanded the collective attention of the Internet, some of who have taken it upon themselves to do extensive research into how Jordan lives his life off-camera, which has prompted a response from the actor himself. In an interview last year with Vogue, Jordan revealed that he shares a home with his parents and that he’d love to visit Tokyo, Japan because he loves anime, two facts that a Twitter user slyly pointed out might not be as endearing if they hadn’t come from the charming Fruitvale Station actor. As might be expected, the tweet went viral, catching the attention of Jordan himself, who had a pithy clap back to the tweet of his own.

  • President Trump Went Way Off Script and Turned His CPAC Speech into a Campaign Rally

    President Trump Went Way Off Script and Turned His CPAC Speech into a Campaign Rally

    When President Donald Trump took the stage at the Conservative Political Action Conference (CPAC) Friday morning, he clearly wanted to have some fun. For more than an hour, Trump held court, largely eschewing a teleprompter filled with prepared remarks on North Korea sanctions and remembrances for Billy Graham and the victims of the Parkland, Fla. shooting, instead choosing to ramble enthusiastically about familiar themes in his typical campaign style. Early in his CPAC speech, Trump caught a glimpse of himself in a TV monitor and joked, “I try like hell to hide the bald spot,” turning around to show the audience the back of his head.

  • No Amazon Worries for FedEx

    No Amazon Worries for FedEx

    Shares of FedEx (FDX) rose 2.77%, to $252.22, on Friday, thanks in part to an upgrade from Bernstein's David Vernon and his team. Vernon boosted his rating to Outperform and his price target to $290, writing that the shares are attractively valued and offer mid-teens earnings- per-share growth marking the "highest rate of return in company history," thanks to a strengthening global economy, rising interest rates, and strong business-to-consumer demand. Lower corporate taxes also figure into his thesis. It's the business-to-consumer part that may be most eye-catching for investors, as it's impossible to talk about shipping these days without talking about Amazon.com (AMZN). Vernon writes that

  • GE says it may face U.S. action over subprime mortgage operations

    GE says it may face U.S. action over subprime mortgage operations

    General Electric Co (GE.N) faces potential action by the U.S. Justice Department over allegations that its GE Capital unit and now defunct WMC Mortgage Corp unit violated U.S. law in connection with subprime mortgages, according to a regulatory filing on Friday. GE said the department "is likely to assert" violation of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) "in connection with WMC's origination and sale of subprime mortgage loans in 2006 and 2007," the filing said. "WMC and GE Capital will explore whether an acceptable settlement of this matter can be reached.

  • Why Nvidia (NVDA) Stock Is the Cheapest It's Been in Nearly a Year

    Why Nvidia (NVDA) Stock Is the Cheapest It's Been in Nearly a Year

    It is no secret that Nvidia NVDA is one of Wall Street’s most popular stocks. The graphics chip maker is a dominant force in the global gaming industry, and its tireless investments in self-driving cars, machine learning, and artificial intelligence all but guarantee the company a spot among the tech industry’s leaders for years to come. Nvidia’s leadership and innovation have also led to a massive surge in the company’s stock.

  • President Trump Still Hasn't Forgiven John McCain for Killing Obamacare Repeal

    President Trump Still Hasn't Forgiven John McCain for Killing Obamacare Repeal

    President Donald Trump has again blasted Sen. John McCain for voting against the repeal and replacement of the Affordable Care Act last summer — but did not once call him by name. “We’re having tremendous plans coming out now, healthcare plans, at a fraction of the cost, that are much better than Obamacare,” Trump said Friday at the Conservative Political Action Conference. “Remember — one person walked into a room when he was supposed to go this way,” Trump added, giving a thumbs up sign, “and he walked in and went this way [thumbs down] and everyone said, ‘What happened?

  • In Your 60s? 3 Stocks You Should Consider Buying
    Motley Fool

    In Your 60s? 3 Stocks You Should Consider Buying

    OK, those of us in our 60s know this already, but I'm going to say it anyway: We are not old. The Pew Research Center conducted a study of aging and found that the definition of old age depends on who you ask. Well, I admit that how we feel about aging might not matter much in investing, but what does matter is longevity.

  • NYSE Top Dividend Paying Stocks
    Simply Wall St.

    NYSE Top Dividend Paying Stocks

    Williams Companies is one of our top dividend-paying companies that can help boost the investment income in your portfolio. These stocks are a safe way to create wealth as their stable and constant yields generally hedge against economic uncertainty and

  • Adam Schiff's Memo Has Been Released. Here's What It Says

    Adam Schiff's Memo Has Been Released. Here's What It Says

    Democrats on the the House Intelligence Committee on Saturday released a memo prepared as a counter to the one overseen by the committee’s chairman Devin Nunes that was publicized earlier this month. Overseen by Rep. Adam Schiff, the ranking Democrat on the committee, the memo from the Democrats attempts to contextualize the Nunes memo, which argued that the FBI displayed bias in obtaining a FISA warrant for former Trump campaign adviser Carter Page. That memo alleges that the FBI failed to disclose Christopher Steele, who compiled the notorious Steele dossier, was working for Fusion GPS or the firm’s founder Glenn Simpson, and that Deputy FBI Director Andrew McCabe — who is stepping down —said the FBI would not have sought a warrant without the dossier.

  • Like Dividends? I Bet You'll Love These 4 Stocks
    Motley Fool

    Like Dividends? I Bet You'll Love These 4 Stocks

    Crestwood Equity Partners is a master limited partnership (MLP) that operates oil and natural gas pipelines, processing plants, and storage facilities across most of America's fastest-growing shale regions. The company uses that cash to support its generous distribution, which at the moment yields 8.8%, and which Crestwood covered with cash flow by a comfortable 1.4 times in 2017.

  • 3 Cheap Dividend Stocks That Helped Warren Buffett Earn $3.7 Billion in Dividends in 2017
    Insider Monkey

    3 Cheap Dividend Stocks That Helped Warren Buffett Earn $3.7 Billion in Dividends in 2017

    Warren Buffett, the revered billionaire investor and Chairman and CEO of $500 billion holding company Berkshire Hathaway, just released his annual shareholder letter in which he discussed a number of intriguing topics. Perhaps the most noteworthy one was the revelation that Republican tax cuts contributed $29 billion to Berkshire Hathaway Inc. (NYSE:BRK.A)‘s bottom-line last year. That clearly proved irksome to Buffett, who supported Hillary Clinton during the 2016 Presidential Elections and was not fond of the idea of tax cuts for the wealthy. As Buffett made clear in the letter, the windfall “did not come from anything we accomplished at Berkshire.” The letter also revealed that Berkshire earned

  • 8 memorable quotes from Warren Buffett's newest shareholder letter
    Yahoo Finance

    8 memorable quotes from Warren Buffett's newest shareholder letter

    In his annual letter to Berkshire Hathaway (BRK-A, BRK-B) shareholders, legendary investor Warren Buffett muses on the M&A environment, his aversion to leverage, opportunities to buy during downturns, and his disregard for fees charged by active managers.