economy

Africa Is Not Poor, We Are Stealing Its Wealth

Africa is poor, but we can try to help its people.

It’s a simple statement, repeated through a thousand images, newspaper stories and charity appeals each year, so that it takes on the weight of truth. When we read it, we reinforce assumptions and stories about Africa that we’ve heard throughout our lives. We reconfirm our image of Africa.

Try something different. Africa is rich, but we steal its wealth.

Tax on Sugar and Sweetened Beverages

Although the overall impact of a tax on sugar-sweetened beverages would be negative the effect would be “relatively small”, National Treasury said. 

During public hearings on government’s proposed tax that took place in Parliament on Tuesday, National Treasury said it expected job losses in the sugar and beverages industries to be 5 000 at most. 

“But the health outcomes associated with this tax need to be factored into the overall assessment of the tax proposal,” an official said. 

SA Credit Rating on the Brink

SA has made some progress in fixing problems identified by ratings agencies, but there are outstanding issues that might mean the country is given 'junk' status, warn economists Fatima Bhoola and Nimisha Naik.

Rating agencies are shortly expected to announce their decision on whether to retain South Africa’s sovereign credit rating, or to downgrade it.

The current rank assigned by Moody’s is two notches above sub-investment grade (with a negative outlook).

Fellow agencies Fitch and Standard and Poor’s both rank South Africa just one notch above “junk” status.

South Africa Ranks Fourth on the IIAG

The Mo Ibrahim Foundation says that South Africa is the continent's fourth-best governed country on the African continent.

It its latest Ibrahim Index of African Governance (IIAG), the organisation ranks all 54 African countries using 15 years of data from 33 independent institutions.

The organisation notes that each country gets an overall score out of 100, with the total scores composed from four main categories (each with their own subcategories): safety and rule of law, participation and human rights, sustainable economic opportunity, and human development.

WEF Gets Underway in Cape Town

The World Economic Forum on Africa which takes place in Cape Town this year, has already attracted over 1 000 participants from more than 75 economies.
 
Three heads of state including President Jacob Zuma are expected to address delegates and this year's meeting will focus on 10 global challenges of the World Economic Forum.
 

Govt Warned Over Labour Law Amendments

The South African Institute of Race Relations (SAIRR), a liberal think-tank, states that, the labour law amendments to regulate labour broking and plans to extend minimum wages will keep unskilled youngsters out of the economy.
The SAIRR says, “Contrary to what it claims‚ the government is doing more to hinder than to help young people participate in the economy.”

Africa-Nordic Dialogue Focuses on Poverty Reduction

Poverty reduction, inequality and unemployment are expected to take a centre stage as the 14th session of the Africa-Nordic foreign ministers dialogue enters its second and final day at Mookgopong in Limpopo. 

The forum, which was established in the year 2000, aims to establish new perspectives for the friendship, cooperation and solidarity that exists between various African countries and the Nordic countries. 

Pages

NGO Services

NGO Services
Subscribe to RSS - economy