economic growth

South Africa Urged to Grow Entrepreneurs

The Development Bank of Southern Africa (DBSA) says that focus on employment equity and wealth distribution has to shift to entrepreneurship and value creation if the economy is to grow.

The focus on employment equity and wealth distribution had to shift to entrepreneurship and value creation if the economy was to grow and create 500 000 jobs to satisfy the objectives of the New Growth Path.

The bank's comments are an admission that many government initiatives to broaden the economy, improve education and foster entrepreneurship, have failed.

SA Needs 10% Growth to Create Jobs - DBSA

The Development Bank of Southern Africa (DBSA) says that South Africa's gross domestic product (GDP) needs to grow by at least 10 percent a year if it is to create half a million jobs each year for the next decade.

Speaking at the launch of the bank's development report for 2011, 'Prospects for South Africa's Future', DBSA divisional executive for planning, Sinazo Sibisi, said that the GDP growth to date has been volatile and potentially unsustainable.

Freedom for All in South Africa

Despite a plethora of evidence that economically free societies are better off by virtually every measure of wellbeing than societies that are directed and controlled by a central authority, there continues to be significant opposition to ideas of political and economic freedom. Indeed, in the South African context much of the thinking still suffers from a planning paradigm and a persistent insistence that development is in a fundamental sense, up to the government rather than individuals.

UN Criticises West Africa Over Poor Governance

The United Nations (UN) report says despite the progress in shoring up peace and human rights in West Africa, paucity of good governance still undercuts progress in the region.

UN secretary-general's special representative for West Africa, Said Djinnit, disclosed this while presenting the Secretary General's latest report on the region to members of the Security Council.

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