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economy

economy

  • Africa Urged to Invest in Youth

    The United Nations Population Fund (UNPFA) says the returns on smart investments in young people could be as much as US$500 billion a year to sub Saharan economies over the next 30 years.

    In its report titled ‘The Power of 1.8 Billion: Adolescents, Youth and the Transformation of the Future’, the UNPFA highlights that developing countries with large youth populations could see their economics soar if the right investments are made in education, health planning and protection of rights.

    Editor of the report, Richard Kollodge, says: “Consider the evidence for East Asia, countries in that region invested in young people’s human capital, opening the door to an economic boom that lasted for decades…”

    To read the article titled, “UN report highlights significance of investment in youth,” click here.

    Source: 
    SABC News
  • Malawi the 8th Poorest Country in Africa

    New data by the Richest Lifestyle magazine, which captures the outlook of the gross domestic product (GDP) in each country as of 2014, reveals that Malawi is ranked the eighth poorest country in Africa.
     
    The ranking takes into account the total market value of goods and services produced by the national economy during the last year in regards to each person in the country.

    Malawi joins three other Southern African Development Community member states on the list, namely: Madagascar on number nine as well as Zimbabwe and the Democratic Republic of the Congo which are the two poorest countries of all.
     
    To read the article titled, “Malawi is number eight on the list of poorest countries,” click here.

    Source: 
    All Africa
  • Confusion Over Zim Unemployment Rate

    Zimbabwe’s opposition Movement for Democratic Change has recently described Zimbabwe’s unemployment rate of 85 percent as a ticking time bomb.
     
    In its 2013 election manifesto, President Robert Mugabe’s ZANU-PF party claimed unemployment levels stood at 60 percent.
     
    The secretary-general of the Zimbabwe Congress of Trade Union, Japhet Moyo, told a newspaper late in 2012 that the unemployment rate was between 80 and 90 percent while the country’s National Association of Non-Governmental Organisations suggested that overall unemployment in 2011 stood at 95 percent.
     
    To read the article titled, “Is Zimbabwe’s unemployment rate four percent, 60 percent or 95 percent?” click here.

    Source: 
    SABC News
  • E-toll Opponents Slam Retrenchments

    According to Justice Project South Africa chairperson, Howard Dembovsky, the company responsible for running the controversial e-tolling system in Gauteng ‘could not care less’ about employees affected by its decision to retrench.

    The Opposition to Urban Tolling Alliance (OUTA) believes this sends a clear indications that the system is going bust.

    Dembovsky is of the view that, “People are disposable liabilities and are considered to be ‘collateral damage’ by executives and corporations.” 

    To read the article titled, “E-toll opponents slam retrenchments,” click here.

    Source: 
    The Citizen
  • ‘Structural Problems Create Poverty’

    Senior researcher within the Humanity Faculty at the Mapungubwe Institute for Strategic Reflection (MISTRA), Leslie Dikeni, believes it is structural problems within societies that create poverty, ‘people are not born poor’.

    Speaking on SAfm’s Forum@8, Dikeni argues that although government has clear policies that seek to eradicate poverty, the debate of whether those policies are effective or not still needs to continue.

    According to social development minister, Bathabile Dlamini, South Africa has made significant strides in reducing poverty and hunger over the past 20 years.

    To read the article titled, “'Economy restructuring needed to reduce poverty',” click here.

    Source: 
    SABC News
  • OUTA: E-tolls Have Failed

    The Oppostion to Urban Tolling Alliance (OUTA) believes the questionable execution of e-tolling in Gauteng had paved its road to failure.

    Speaking at an advisory panel on e-tolls which looks at the systems socioeconomic impact, OUTA chairperson Wayne Duvenage was demonstrating reasons for the failure of the system.

    Duvenage, states that, “We are wasting everyday peoples’ money… we need to switch the system off.”

    To read the article titled, “E-tolls failed: OUTA,” click here.

    Source: 
    Times Live
  • Africa Set for Oil and Gas Boom

    According to a study by PriceWaterhouseCoopers, six of the top 10 global discoveries in 2013 were made in Africa, with more than 500 companies now exploring across to the continent.

    The report’s advisory leader, Chris Bredenhann, states that large gas finds in Mozambique and Tanzania would make the world ‘take note of east Africa as an emerging player in the global industry.’

    The boom has brought investment opportunities to Africa, despite the lingering challenges of corruption, lack of infrastructure and regulation.

    To read the article titled, “Africa set for oil and gas boom - report,” click here.

    Source: 
    The Citizen
  • NGO Warns of a Looming Coup in Zimbabwe

    A rights organisation warns that a coup remains imminent in Zimbabwe if the current ‘serious economic situation’ in the southern African country persists.

    Crisis in Zimbabwe Coalition chairperson, Dewa Mavinga, warns that there could be a military upset in the country if the cash-strapped government failed to pay the army.

    Mavinga compared the situation in Zimbabwe with that in Lesotho where an attempted coup forced Prime Minister, Tom Thabane, to flee to South Africa, cautioning that the Southern African Development Community should prepare for a potential catastrophe.

    To read the article titled, “Group warns of a looming coup in Zimbabwe,” click here.

    Source: 
    News 24
  • Zambia Lifts Ban on Safari Hunting

    Zambia’s government states that it has lifted the 20-month ban on safari hunting because it has lost too much revenue, but lions and leopards will remain protected.

    The ban was imposed in January 2013 over allegations of corruption in the awarding of government hunting concessions, and because of fears for the future of the country's population of big cats.

    Tourism Minister, Jean Kapata, declares that the country has lost too much revenue following the ban on hunting and the Zambia Wildlife Authority had a lot of financial problems, adding that, hunting fees will be raised.

    To read the article titled, “Zambia lifts ban on safari hunting,” click here.

    Source: 
    News 24
  • Integrated Approach Required to End Crime

    Police minister, Nkosinathi Nhleko, says that crime can only be successfully fought through an integrated approach between society and government.

    Speaking at the Cape Town Anti-Crime Conference organised by the Congress of the South African Trade Unions in the Western Cape, Nhleko said the ‘mother city’ is a world renowned tourism destination but it has its fair share of crime.

    “The socio economic condition, if it is not addressed, will always produce criminality and it's not the police that are going stand on the side with everything that they have to arrest everybody and then resolve the socio economic condition. It's not going happen that way,” he warned.

    To read an article titled, “‘Integrated approach between society and govt needed to end crime’,” click here.

    Source: 
    SABC News
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