News - Afrikan Heroes

Africa Attracts $7.6b Development Fund Commitments from Donors

December 13, 2019

Patrick Dlamini CEO of the Development Bank of Southern Africa

Efforts to leapfrog development across the African continent received a boost with a pledge commitment of $7.6 billion from Africa’s development partners and shareholders of the African Development Fund (ADF). This replenishment which is a 32% boost from last replenishment aimed at supporting mostly Africa’s low-income, fragile and most vulnerable countries by tackling the root causes of fragility, strengthening resilience, and mainstreaming cross-cutting issues. These include gender, climate change, governance, private sector development, and decent job creation.

The ADF which comprises 32 contributing states and benefits 37 countries – including those experiencing higher growth rates, headed towards new emerging markets, and fragile states needing special support for basic service delivery. The Fund’s resources are replenished every three years. Speaking on the importance of the development, the President of African Development Bank Dr. Akinwumi Adesina said that this has exceeded the target set for this replenishment, pointing out that it was a great and successful replenishment story that is.

Over the past 45 years, the ADF has played an important role in the development journey of African low-income countries. In just nine years, the ADF has made a difference and positively impacted the lives of millions by improving access to electricity for 10.9 million people; providing agriculture infrastructure and inputs for 90 million people—including 43 million women; improving access to markets and connections between countries to 66.6 million people; contributing to the continent’s regional integration agenda by rehabilitating more than 2,300 km of cross-border roads; improving access to water and sanitation for 35.8 million people.

This funding will cover the period 2020-2022 and will build on successes of the fourteenth replenishment by being more selective and focused. It will focus on two Strategic Pillars: quality and sustainable infrastructure aimed at strengthening regional integration; and human governance and institutional capacity development for increased decent job creation and inclusive growth.

In pursuing these strategic priorities, the Fund will pay special attention to gender equality, climate change, private sector, and good governance promotion.

According to Patrick Dlamini CEO of the Development Bank of Southern Africa, DBSA, who spoke on behalf of South Africa’s Finance minister Tito Mboweni, the deliberations and outcome, demonstrated the confidence member countries place in the African Development Bank Group as “the cornerstone institution underpinning African development.” He added that “There is no better vehicle than the ADF, and that going forward, an ambitious programme of development lies ahead.”

This replenishment will address root causes of vulnerability by systematically applying a fragility lens in all its operations. This will be specifically targeted at regions such as the Sahel, which will see a 65% increase in resources from the ADF over the next three-year period. Observers say this is a welcome development as it is coming at a time of tremendous opportunities and challenges for ADF countries and the world.

During the next three years, the Fund will scale up its interventions with bold and profoundly transformative projects such as Desert to Power stretching across the Sahel region. This flagship programme, aims at transforming the Sahel into the world’s largest solar production zone with up to 10,000 MW of solar generation capacity and 250 million people connected to electricity.

As part of the initiative, the Yeleen Rural Electrification Project in Burkina Faso is set to provide access to electricity to 150,000 households, while the Djermaya Project in Chad will generate 10% of Chad’s power capacity.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

Zimbabwean Importers To Forfeit Their Goods For Obtaining Forex Through Black Market

Doing business in the Southern Africa country of Zimbabwe just got tougher for importers in the country. In its latest policy change, Zimbabwean importers will now be forced to declare sources of their foreign currency, and those who fail to prove they obtained the money from banks will made to forfeit their goods to the state.

“In the event that you are not able to declare the official source of foreign currency, you forfeit whatever you have to the state. So, this will deal with black market operations,” Deputy finance minister Clemence Chiduwa said.

Here Is All You Need To Know

Shortages of foreign currency, fuel and electricity are characterising Zimbabwe’s worst economic crisis in a decade, and have dashed hopes the economy might recover under president Emmerson Mnangagwa, who took over from Robert Mugabe in 2017.
According to Chiduwa, demand for foreign exchange was still high, even after the government ended a decade of dollarisation in June in a major step towards fully restoring its domestic currency.
This practice by Zimbabwean importers of indexing prices to the US dollar, said Chiduwa, was driving up inflation, which economists say reached 440% in October.
Foreign currency shortages have also been worsened by Zimbabwe’s failure to attract foreign investment and loans.

Under The Burden Of Loan

Zimbabwe currently owes foreign lenders more than US$9 billion, most of it arrears, and does not qualify for new funding.
Western nations channel financial help through local charities, but China has emerged as a major direct donor and investor by funding infrastructure like airports, power and water.
Just recently, however, China accused Zimbabwe of understating its financial help, after budget figures released last week showed that Beijing ranked poorly on the list of Harare’s foreign donors.
Finance minister Mthuli Ncube said China provided US$3.6 million between January and September this year, but the Chinese embassy in Harare said it had provided US$136.8 million.
Reuters reports that in a country where authorities have a history of quietly racking up foreign debt without the approval of parliament, the funding discrepancy immediately raised questions from government critics as to whether it was hiding figures, or it had just made an accounting error.
Last Friday, Chinese ambassador to Zimbabwe Guo Shaochun said it was an accounting issue by Zimbabwe, adding that Harare accepted that the figures released by China were correct.
Ncube said the issue has been resolved.

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based Lawyer with special focus on Business Law, Intellectual Property Rights, Entertainment and Technology Law. He is also an award-winning writer. Working for notable organizations so far has exposed him to some of industry best practices in business, finance strategies, law, dispute resolution, and data analytics both in Nigeria and across the world

Facebook Highlights Key Achievements in sub Saharan Africa in 2019

December 12, 2019

Regional Director Facebook Africa, Nunu Ntshingila

Global technology firm, Facebook, has released its ‘2019 Year in Review’ infographic, showcasing some of its investment and outstanding achievements across Sub-Saharan this 2019. Facebook pointed out that it is fully committed to giving people the power to build community and bring the world closer together, throughout the year this translated into significant support and investments into growing the ecosystem of developers, entrepreneurs, creatives, and many other communities.

According to Facebook Africa, the organization trained over 7,000 woman-owned businesses in digital skills across sub Saharan Africa and celebrated 79 Community Leadership Circle meetups with over 2, 650 people attending. Also it reached its 45th Developer Circle, with circles now in 17 African countries and representing more than 70,000 members.

During the year under review, Facebook hosted the first-ever iD8 Nairobi Conference with over 400 African developers and startups in attendance, and also expanded Third-Party Fact-Checking across 10 African countries. The firm equally announced the creation of the world’s most detailed population density maps of Africa, created by Facebook AI researchers to help humanitarian aid and relief agencies; and much more.

Speaking on these key milestones, the Regional Director of Facebook Africa, Nunu Ntshingila, said that “Africa is important to Facebook, and we’re committed to investing in its youth, entrepreneurs, the creative industries, tech ecosystem as well as its many other communities. Our 2019 Year in Review highlights just some of these investments, and the impact we’ve been able to have here in the region”. He expressed his excitement about the future of Facebook and its family of apps here in Africa, as well as the potential of this young, mobile and dynamic continent, and look forward to creating partnerships in 2020 and beyond.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

Skills Mismatch is Key Challenge to Youth Unemployment in Africa

Adamon Mukasa, senior researcher at the African Development Bank

There is need to address the issue of skills mismatch in jobs for the youth if the African continent hopes to tackle growing youth unemployment in the continent, participants at the ongoing African Economic Conference (AEC) were told yesterday. The Conference which hosted a panel of discussion to explore ways to create jobs for Africa’s youth, focused on the youth skills gap issue across the continent. According to Adamon Mukasa, senior researcher at the African Development Bank, under-skilled youth represented 28.9% of Africa’s population more than double the 13% recorded in other developing regions.

In education, around 8.3% of youth had reached tertiary education versus 20.6% of their peers in other developing regions. More than half, 56.9%, received basic to secondary education only, compared to 36.4% in other parts of the developing world. This mismatch impacts earnings, job satisfaction and job stability, he said.

“Under-skilled youth often accept mismatched jobs out of desperation,” Mukasa said at a breakout session, adding that they take the jobs as an alternative to being unemployed. To help close the skills gap, “African countries must develop policies to facilitate school-to-work transition of their youth.” He also suggested giving more prominence to science, technology, engineering, and mathematics (STEM) in the education system, to help build skills and knowledge youth need to enter the labor market at a higher level.

Essa Chanie Mussa, an Ethiopian assistant professor at the University of Gondar, zeroed in on the issue of youth employment in farming jobs in southwestern Ethiopia. Mussa highlighted several factors that continue to drive youth away from farming, a main resource in southwestern Ethiopia, towards cities, centered on their attitudes to farming. He said 51.2% of youth had negative perceptions about farming. Not all youth were leaving farming, however, some said they were willing to stay if provided with a better farming infrastructure and better transportation and communications, he noted.

Abel Alfred Kinyondo, Senior Lecturer at the University of Dar es Salaam in Tanzania, spoke about youth skills and unemployment in that country where the problem rests in the lack of soft skills, such as communication and teamwork, as opposed to technical skills. Kinyondo said in Tanzania, Swahili is the national language, while the official language is English, resulting in a discrepancy between labor demands and available soft skills.

He noted that Tanzania has taken steps to close the skills gap with the government with the launch of a Technical and Vocational Education and Training department, in addition to adopting an Education-Employment Link framework, aimed at connecting people who successfully completed their education with available jobs.

Giving an example of the mismatch between soft skills and labor market demands, he noted that someone applying for the job of a Swahili language teacher would still be interviewed in English. “The biggest issue is in the soft skills [in Tanzania] not in the technical ones,” Kinyondo said.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

Zambia Will Begin Internet Tax on WhatsApp, Netflix, Others In January, 2020

December 11, 2019

Barring any last minute changes, the Zambian government will start taxing internet services from January 2020. The move could effectively see internet services such as Netflix, WhatsApp and others taxed. According to Zambia’s VAT Amendment Bill 2019 which was issued on 20th November 2019, taxing of internet services companies will come into operational January 2020.

Here Is All You Need To Know

Under the new tax regime, companies offering internet services in Zambia but domiciled out of the country will be expected to appoint a tax agent to handle all tax matters in the country.
The Bill defines “Electronic Commerce” as the buying, selling and advertising or marketing of goods and services using the internet, mobile telecommunication networks and other electronic commerce infrastructure.

“A taxable supplier shall issue a tax invoice for the supply of goods and services using an electronic fiscal device. A taxable supplier who fails to issue a tax invoice commits an offence and is liable on conviction to a penalty not exceeding 300 penalty units or to imprisonment for a term not exceeding three years or to both,” the Bill says.

In the Bill, “Electronic Service” is defined as a service capable of delivery of data across multiple electronic platforms.
The Bill says the Supplier who does not have a registered office or Permanent address in Zambia shall appoint a tax agent resident in the Republic to act on behalf of the Supplier in tax matters.

“For the purposes of this Section, “Supply of Services” includes the supply of a service that is made by a supplier who is resident in Zambia or carries on a business outside the Republic to a recipient who is resident in Zambia.”

Comments:

With an estimated number of 7.1 million people connected to the internet in Zambia, out of its population of 15 million, Zambia, for the first time, is showing other African countries that global internet giants such as Netflix that makes money off Zambians could be taxed. Extending the tentacles of taxation across the barriers of geography could be a deal breaker for the nascent internet industry in Africa. However, it could be argued that companies with physical presence are already paying so much taxation. With Zambia’s tax to gdp ratio ( last reported in 2013) standing at 20.3 %, it makes sense that the Southern African country, rich in copper and other mineral resources, is turning to the 14.3 percent of its population who access the internet.

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based Lawyer with special focus on Business Law, Intellectual Property Rights, Entertainment and Technology Law. He is also an award-winning writer. Working for notable organizations so far has exposed him to some of industry best practices in business, finance strategies, law, dispute resolution, and data analytics both in Nigeria and across the world

Nigeria and Ghana top Projects Destinations in the Oil and Gas Industry in 2020

Nigeria and Ghana has been identified as leading investment destinations in the oil and gas industry in 2020 based on findings and surveys from the African Energy Outlook 2020. The Report which was launched last month by the African Energy Chamber highlighted the importance of increased infrastructure capacity in Africa’s long-term industrial development.

Spotlighting the $12 billion Dangote Refinery in Nigeria and Ghana’s Tema LNG Terminal, the Chamber noted essential role such projects play in revamping the sector and creating opportunities for private sector investors. “At a time when the low oil price is gripping treasury revenues, private capital is developing key oil and gas infrastructure projects which could have a significant impact on the African energy and power landscape over the next decade,” the report said.

On the Dangote Refinery, the Chamber called attention to the current state of Nigeria’s infrastructure and the contribution the project would have specifically as the country works towards tripling its refining capacity to 1.5 million bpd by 2025 as a means to reduce its reliance on fuel imports. To this, the Report said, “the refinery’s tank farms are set out for completion in Q4-19 and they may be used as a depot before the refinery’s production starts. This would provide an immediate increase to fuel storage capacity.”

Ghana’s determination to become sub-Saharan Africa’s first LNG importer in 2020 is set to become a reality as the Tema LNG terminal project nears completion. The project will be able to cover 25 percent of Ghana’s total electricity generation capacity, with gas providing a cheaper alternative to oil.

“The deal with Rosneft enables Ghana to diversify gas imports away from Nigeria, which has consistently failed to provide the agreed level of supply since the West African Gas Pipeline started operating back in November 2011,” the Chamber explained. Adding that the emergence of offshore storage and regasification technology is enabling smaller, lower-risk, rapid LNG solutions that could be replicated elsewhere in the region in countries with substantial gas reserves.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

Saudi Arabia’s Oil Company Aramco Becomes The World Most Valuable Company

It’s a massive day on the Saudi stock market as oil giant Aramco finally makes its debut — becoming the biggest listed company in the world.

Saudi Aramco is floating today, after raising $25.6bn through its sometime troubled IPO. That valued the company at $1.88 trillion — even more than Apple ($1.2 trillion).

The opening auction on the Tadawul is underway.

If Aramco’s shares rally today, then the $2trillion valuation craved by Crown Prince Mohammed bin Salman could be in sight again.

But it’s an usual float — just 1.5% of Aramco’s stock is actually floating. The rest is owned by the Saudi state.

Image result for World's most valuable company — World Most Valuable Companies and their year of reign -Source: CNBC.com

That scarcity could help push the stock higher, after international investors proved reluctant to back the IPO.

Shares of the state-owned oil company rose to 35.2 riyals ($9.38) in early deals in Riyadh, after initially debuting at 32 Saudi riyals, giving it a valuation of $1.88 trillion.

Aramco’s public debut, which listed 1.5% of its shares locally on the Saudi Tadawul, is the largest on record — topping the $25 billion Alibaba raised when it went public in September 2014.

The oil giant’s initial public offering has surpassed its earlier valuation of $1.7 trillion, announced when share pricing was disclosed last week at the top of market range. But the $1.88 trillion valuation remains below what the kingdom had initially been targeting and relying heavily on local investors after canceling international roadshows due to lackluster foreign interest.

Indeed local and regional buyers appear to be making up the bulk of the demand. That’s also created an interesting twist on the lockup period as the absolute monarchy seeks to privatize its assets, per the Wall Street Journal.

“Locals won’t rush to sell their piece of the kingdom’s crown jewel. The large group of high net worth individuals, government-related entities and other local institutional investors under pressure to buy shares are also unlikely to sell them early and risk the crown prince’s ire. Individual investors are in line to receive a 10% bonus allocation from the state’s holdings if they hold their shares for six months, capped at 100 additional shares. There are almost no fast-money hedge-fund investors involved.”

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based Lawyer with special focus on Business Law, Intellectual Property Rights, Entertainment and Technology Law. He is also an award-winning writer. Working for notable organizations so far has exposed him to some of industry best practices in business, finance strategies, law, dispute resolution, and data analytics both in Nigeria and across the world

Akufo-Addo, Kagame, Mo Sallah, Others Make List of 100 Most Influential Africans in 2019

December 10, 2019

The New Africa has released this year’s list of the 100 Most Influential Personalities in Africa with personalities cutting across diverse fields of endeavours from politics, to economy to social and sports. The list has notable personalities such as the Ghanaian President Nana Addo Dankwa Akufo-Addo who was re-appointed as the Co-Chair of Sustainable Development Goals Advocate Group by UN Secretary General.

Ghanaian President Nana Addo Dankwa Akufo-Addo

Also, the President of Rwanda, Mr. Paul Kagame made the cut for his sheer dynamism and the impact his decisions have on other countries. Notable footballer like Egypt and Liverpool’s Mohamed ‘Mo’ Salah made the list for showcasing extra ordinary talent in the game. He has so many followers that he no longer belongs to Liverpool or for that matter, Egypt – he belongs to the world, the publication notes.

Another notable presence on the list was Alaa Salah, an activist from Sudan who is called ‘Lady Liberty’, one of the iconic symbols of Sudan Uprising, also Siya Kolisi, Captain of South African Rugby team that won the Rugby World Cup made the list for his dexterity and grass to grace story, coming from a desperately poor beginning, his parents could not afford basic school fees, let alone his rugby kit, and now he captained a World Cup winning team. Expectedly, the Male Athlete of the Year by World Athletes, Eliud Kipchoge of Kenya made the list for being voted Male Athlete of the Year by World Athletics.

Nigeria’s Amina J. Mohammed who is the Deputy Secretary General of United Nations was recognized for being one of the most respected female figures in the world today for her determination to advance poverty eradication, gender equality and inclusive development in a peaceful world.

Activist, Thando Hopa of South Africa, a model and professional lawyer who was born with Albinism, and has became a powerful voice and advocate for diversity and inclusion in the beauty and fashion industry, among others especially for people living with albinism was recognized for her activism. Then the CEO of Merck Foundation who has been empowering many women through the Merck More Than a Mother Movement which has touched women across the continent of Africa. Rasha Kelej has been recognized for her efforts to empower women in general and infertile women in particular through the “Merck More Than a Mother” campaign.

Speaking about the recognition, Rasha Kelej, who hails from Egypt, said that she was thrilled and honored to receive this recognition and to be included in this prestigious list among such an eminent group of people. “As an African and an Egyptian woman, I strongly feel the need to empower girls and women, to be able to help them reach their true potential”, she said. She noted that through the Merck Mother Than a Mother Campaign, “we have always strived to bring a cultural shift to de-stigmatize infertility on all levels: By improving awareness, training local experts in the fields of fertility care and media, building advocacy in cooperation with African First Ladies and women leaders and by supporting childless women in starting their own small businesses, in addition to empowering girls in Education and women in STEM fields”. According to her, it is all about giving every woman the respect and the help she deserves to live a fulfilling life, with or without a child.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

Benin City to Design World Class Museum for Returned Stolen Artifacts from Europe

The ongoing campaign by African countries for the return of artifacts and art treasures stolen by European colonialists is gaining tractions as France and United Kingdom have started returning some of the treasures to their original owners. With this development, efforts by the Oba of Benin to construct a world class museum that will house the returned treasures is taking shape with the tapping of Dadid Adjaye, globally renowned architect, to design the Museum.

Globally renowned architect, Dadid Adjaye

It could be recalled that President Emmanuel Macron of France has championed a top-down approach to the issue of restitution, commissioning a report by the art historians Felwine Sarr and Bénédicte Savoy. They delivered their bombshell findings last November, urging restitution where appropriate. And within days, Macron had ordered the Musée Quai Branly–Jacques Chirac in Paris and the French Ministry of Culture, to return 26 works requested by the Republic of without delay. However, there was a snag as the restitution needs to be approved by the French senate. The artifacts, which include a throne looted by French troops, are destined for Benin’s new museum in the city of Abomey, which is due to be built with a €20 million loan from France and to open in 2021.

Architect David Adjaye, who designed the Ghana pavilion at the 2019 Venice Biennale, is already working on the layout of the new museum that could one day house treasures looted from the African kingdom of Benin during the colonial era. The British architect, who designed the Smithsonian’s critically acclaimed National Museum of African American History and Culture, has been commissioned to undertake a feasibility study for the new Benin Royal Museum in Nigeria.

The Edo state government has commissioned Adjaye Associates and its local partner in Nigeria, Agram Architects, to undertake the feasibility study. Building a new museum would be a major step in repatriating artifacts, such as the Benin bronzes, which were looted by the British army in the late 19th century and then sold to pay for the military campaign. Many ended up in museums across Europe, as well as in the Metropolitan Museum of Art in New York. The lion’s share of the trove went to the British Museum in London. Examples were recently acquired by the Louvre Abu Dhabi.

Benin’s lost treasures are a subject close to the heart of Adjaye, who was born in Tanzania to Ghanaian parents. Adjaye was invited to contribute his ideas for the new museum at the latest meeting of the Benin Dialogue Group, the members of which include representatives from major museums in Germany, the Netherlands, Austria, Nigeria, and the UK, including the British Museum.

The Benin Dialogue Group members have been discussing the new museum since 2018. At its last meeting Adjaye outlined his vision. The museum would “reunite” the most significant of Benin’s historical artifacts, currently housed in various institutions around the world. This effort will help develop cultural appreciation and also create employment while earning good revenue for Edo State.

The group pledged to undertake provenance research into their collections and share the results ahead of its next meeting at the British Museum in 2020. However, the legal issue surrounding the repatriation of pieces will probably mean they will be loaned rather than permanently returned. Some critics accuse the group of having a “colonial mindset” because of its stress on their institutions’ legal ownership of the artifacts.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

Uber Launches in Cote d’Ivoire, Promises to Expand in West Africa

December 8, 2019

With the series of regulatory clampdown it is suffering in some matured markets, the leading ride-hailing company Uber is hastening efforts to open up services in Africa especially as competitors are fast at its heels. To this end, it expanded its operations in West Africa with the launch in Abidjan, Cote d’Ivoire. A moved observers say is overdue, especially with Abidjan’s metropolitan status and presence of Africa’s premier development financial institution, the African Development Bank (AfDB).

Alon Lits, Uber’s general manager for sub-Saharan Africa

According to Uber, Abidjan, a commercial hub of nearly 5 million people, was a “perfect fit” adding that more than 50,000 people had tried to use its app there in the past year. “This means that for the thousands of taxi operators in Abidjan, there will be new clients for every single driver, in addition to the number they already have now,” Alon Lits, Uber’s general manager for sub-Saharan Africa, said.

With this entrance into Cote d’Ivoire, Uber is now in three West African countries after its initial launch in Nigeria, and later in Ghana. Abidjan now brings to 16, the number of cities with Uber services across sub-Saharan Africa. This means that for the thousands of taxi operators in Abidjan, there will be new clients for every single driver; in addition to the number they already have now.

There are also plans to launch in Dakar Senegal hopefully by 2020. Market watchers say that Uber wants to cover as much grounds as it could especially with Bolt coming up with nerve wrecking competition in Africa. Moreso, in places in Nigeria, there are other local competitions springing up some of which may venture outside Nigeria soonest, posing bigger threats to Uber’s market share.

Uber has experimented with new services in Africa, including ferries across the lagoon in Nigeria’s traffic-clogged megacity of Lagos, in a bid to woo the continent’s fast-growing population. This opens the door for Uber to innovate according to specific market needs.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry