Economics

Alafe Wakili is A Pioneer in African Media and Communications

Published

1 month ago

January 13, 2025

Alafe Wakili is A Pioneer in African Media and Communications

Early Life and Professional Foundation

Born in Ivory Coast, Alafe Wakili emerged from his early years with a passion for journalism and communications that would later shape West Africa’s media landscape. His journey began with a strong foundation in journalism, where he developed keen insights into the power of media to transform society and influence public discourse. This early exposure to media operations and communications would prove instrumental in his future endeavors.

Building a Media Empire

At the helm of multiple successful ventures, Wakili has established himself as a prominent figure in West African media. As the founder and CEO of SOCEF-NTIC, TOTEM COMMUNICATION and L’INTELLIGENT D’ABIDJAN TV” he has created a diversified media and communications group that sets industry standards. His flagship newspaper, “L’INTELLIGENT D’ABIDJAN,” stands as a testament to his commitment to quality journalism. The daily publication has become one of Ivory Coast’s most respected news sources, known for its independent reporting, comprehensive coverage, and unwavering commitment to journalistic integrity. Under his leadership, the newspaper has successfully navigated the challenging terrain of modern media, maintaining its relevance while adapting to digital transformations in the industry.

Communications Excellence and Innovation

TOTEM COMMUNICATION, under Wakili’s visionary leadership, has revolutionized the public relations and communications landscape in West Africa. The firm has distinguished itself through innovative approaches to strategic communications, crisis management, and public affairs consulting. Wakili’s expertise in developing comprehensive communication strategies has made TOTEM COMMUNICATION the go-to agency for corporations, organizations, and public figures seeking sophisticated media solutions. The company’s success lies in its ability to blend traditional PR practices with cutting-edge digital communications strategies, ensuring clients maintain effective presence across all media platforms.

Political Analysis and Strategic Consulting

Beyond his media enterprises, Wakili has earned recognition as an astute political analyst and strategist. His deep understanding of West African political dynamics, combined with his media expertise, has made him an invaluable consultant for political stakeholders across the region. His analytical prowess extends beyond mere commentary; he provides strategic insights that help shape political discourse and policy development. Through his work, he has contributed significantly to the understanding of complex political and social issues affecting West Africa, and particularly in Ivory Coast.

Literary Contributions and Thought Leadership

As an accomplished author, Wakili has contributed significantly to West African literature and journalism. His written works span various genres, from political analysis to social commentary, demonstrating his versatility as a writer and thought leader. His publications have become essential reading for those seeking to understand the nuances of West African society, politics, and media landscapes. Through his writings, he continues to influence public opinion and contribute to intellectual discourse in the region.

Innovation in Digital Media

Understanding the evolving nature of media consumption, Wakili has been at the forefront of digital transformation in West African media. He has championed the integration of digital technologies in traditional media operations, ensuring his media outlets remain relevant in an increasingly digital world. His forward-thinking approach includes developing robust online presence for his publications and implementing innovative digital solutions for his communications clients.

Professional Impact and Industry Leadership

Wakili’s influence extends beyond his own enterprises. He has played a crucial role in professionalizing the media and communications industry in West Africa. Through various initiatives, he has contributed to raising industry standards, promoting ethical journalism, and developing new talent in the field. His companies are known for their commitment to professional development and innovation, setting benchmarks for excellence in the industry.

Future Vision and Legacy

Looking ahead, Wakili continues to pursue an ambitious vision for African media and communications. His future objectives include further expansion of his media enterprises, development of new digital platforms, and enhancement of professional standards in journalism and public relations. He remains committed to fostering independent journalism, promoting digital innovation, and contributing to the development of a more sophisticated media landscape in West Africa.

Personal Philosophy and Leadership Style

Wakili’s leadership style combines strategic vision with practical execution. His approach to business and media management emphasizes innovation, integrity, and excellence. He believes in the power of media to drive positive social change and maintains a strong commitment to ethical practices in journalism and communications.

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Economics

Checks and Balance newsletter: Donald Trump’s pick-and-choose federalism

Published

8 hours ago

February 15, 2025

Business Finance News

This is the introduction to Checks and Balance, a weekly, subscriber-only newsletter bringing exclusive insight from our correspondents in America.

Economics

Washington D.C. unemployment spikes as Trump and Musk begin efforts to shrink the government

Published

9 hours ago

February 15, 2025

Business Finance News

Elon Musk listens to U.S. President Donald Trump speak in the Oval Office of the White House in Washington, D.C., U.S., Feb. 11, 2025.

Kevin Lamarque | Reuters

President Donald Trump’s moves to fire thousands of federal government workers have coincided with a surge in jobless claims in Washington D.C. that could get worse as the efforts intensify.

Since Trump has taken office, nearly 4,000 workers in the city have filed for unemployment insurance as part of a surge that began at the start of the new year, according to Labor Department figures not adjusted for seasonal factors.

In all, just shy of 7,000 claims have been filed in the six weeks of the new year, or about 55% more than in the prior six-week period. Filings rose to 1,780 for the week ending Feb. 8, a 36% increase from the prior week and more than four times around the same period in 2024.

By contrast, the total level of claims in the U.S. has been moving little, with the four-week moving average of initial claims at 216,000, little changed from the beginning of the year and actually trending lower for the most part over the past several months.

The jump in D.C. claims come as Trump and the Elon Musk-led Department of Government Efficiency advisory board have ordered layoffs across the government structure and instituted buyout programs for early retirement.

“I expect it to go higher, and definitely we’ll be watching it very closely,” said Raj Namboothiry, senior vice president at Manpower North America, the workforce solutions company.

While it’s unclear what share of the spike is directly related to federal government workers, the rise coincides with the White House ordering the layoffs of probationary employees along with thousands of others as the administration seeks a broad-based reduction in the labor force. In addition, some 75,000 employees have accepted the buyout offer.

Washington D.C. had one of the highest unemployment rates in the country at 5.5% as of December 2024, surpassed only by Nevada, according to the Bureau of Labor Statistics. However, the metropolitan area including the Arlington and Alexandria, Va., area was at just 2.7%. The national unemployment rate for the month was 4.1%, before slipping to 4% in January.

Broader labor picture still solid

Namboothiry said the reduction of the federal workforce could present some problems in the region, though it would do little to dent a national picture that he called “fairly stable.”

“Yes, the numbers are definitely sizable,” he said. “But because you’re spread across multiple [geographies], multiple skill sets, multiple sectors, I don’t see that playing a significant role in impacting the overall market.”

There are about about 2.4 million federal workers, excluding post office employees, with nearly one-fifth employed in the D.C. area and the others spread around the country. Outside of spikes around tax season, the number has held fairly constant since the late 1960s.

Still, Trump has targeted the federal employment rolls as a major part of his effort to shrink the size of government.

Displaced employees may not be out of work long, however. Namboothiry thinks their skill sets could be in high demand for certain sectors of the economy.

“This presents an opportunity, because there are clients who are looking for talent that’s exiting that may benefit,” he said. “There’s going to be some conversations around an interest from employers with this pool of talent.”

The cuts that Trump are targeting are spread around the government, with some agencies expecting dramatic cutbacks.

How those displaced employees fare will depend on their fields of work, said Allison Shrivastava, economist at the Indeed Hiring Lab.

“It might be that very few of them remain without work,” she said. “It definitely depends on sector. So for example, if you are, As Trump ramps up layoffs, unemployment claims start to spike in Washington, D.C. you’re in the accounting sector right now, that’s a sector that, in terms of job postings, we’ve seen perform pretty well. Say you’re in software development … those jobs have not been as in demand. The level of difficulty that you would have in finding a job would really be contingent on the sector that you’re in.”

Economics

Retail sales slumped 0.9% in January, down much more than expected

Published

1 day ago

February 14, 2025

Business Finance News

Retail sales slumped 0.9% in January, down much more than expected

Consumers sharply curtailed their spending in January, indicating a potential weakening in economic growth ahead, according to a Commerce Department report Friday.

Retail sales slipped 0.9% for the month from an upwardly revised 0.7% gain in December, even worse than the Dow Jones estimate for a 0.2% decline. The sales totals are adjusted for seasonality but not inflation for a month in which prices rose 0.5%.

Excluding autos, prices fell 0.4%, also well off the consensus forecast for a 0.3% increase. A “control” measure that strips out several nonessential categories and figures directly into calculations for gross domestic product fell 0.8% after an upwardly revised increase of 0.8%.

With consumer spending making up about two-thirds of all economic activity in the U.S., the sales numbers indicate a potential weakening in growth for the first quarter.

Receipts at sporting goods, music and book stores tumbled 4.6% on the month, while online outlets reported a 1.9% decline and motor vehicles and parts spending dropped 2.8%. Gas stations along with food and drinking establishments both reported 0.9% increases.

Stock market futures held in slightly negative territory following the release while Treasury yields lost ground. Traders raised bets that the Federal Reserve could cut interest rates again as soon as June.

“The drop was dramatic, but several mitigating factors show there’s no cause for alarm. Some of it can be chalked up to bad weather, and some to auto sales tanking in January after an unusual surge in December due to fat dealer incentives,” said Robert Frick, corporate economist with Navy Federal Credit Union. “Especially considering December was revised up strongly, the rolling average of consumer spending remains solid.”

Inflation remains ahead of the Fed’s 2% goal. The consumer price index posted a 0.5% gain in January and showed a 3% annual inflation rate. However, the producer price index, a proxy for wholesale prices, showed some softening in key pipeline inputs.

In other economic news Friday, the Bureau of Labor Statistics reported that import prices accelerated 0.3% in January, in line with expectations for the largest one-month move since April 2024. On a year-over-year basis, import prices increased 1.9%.

Fuel prices increased 3.2% on the month, also the biggest gain since April 2024. Food, feed and beverage costs rose 0.2% following a 3% surge in December.

Export prices also increased, rising 1.3%.