economy

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.

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.

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.

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.

Economists, government officials and health experts agree that Zimbabwe’s deepening economic crisis is severely affecting the government’s ability to fund public health delivery and restricting poor people access to healthcare.

The economy showed signs of modest improvement under the government of national unity (GNU) between 2009 and 2013, however industry has been performing poorly and company closures have increased since the Zimbabwe African National Union – Patriotic Front (ZANU-PF) won the general elections in July 2013.

The South African government has ignored recommendations given to it after the Truth and Reconciliation Commission (TRC), and this has damaged South Africans’ chances of reconciliation.

Speaking in a panel discussion, Alex Boraine, former vice-chairman of the TRC, insists that reconciliation was ‘dead on the vine’ as it was not coupled with economic justice, and this had not happened.

The Deputy Minister of International Relations and Cooperation, Luwellyn Landers, says that young people should play a pivotal role if Africa’s envisaged development is to be realised.

Addressing a national youth consultative forum on the African Union’s Agenda 2063, Landers affirmed that, “We are fully cognisant that the young people of today are the main players and partners if we wish to move the process of the development of the continent forward.”

The government intends to accelerate the implementation of the National Development Plan (NDP) in a bid to unlock the country's growth potential.
 
According to Communications Minister, Faith Muthambi, the government is alive to the growth challenges that the country faces, following a Cabinet meeting.
 
“Government is committed to improving the regulatory environment, reducing skills shortages and accelerating its infrastructure investment programme as part of removing obstacles that are constraining growth,” she explains.
 

The International Women's Forum (IWF), a global organisation of prominent women of significant and diverse achievements, says that women are still marginalised in different sectors of the economy across Africa.

IWF president, Dr Vuyo Mahlathi, points out that a lot has to be done to ensure women’s participation in the economy.

The IWF hosted women from different parts of the world for an annual conference to focus on issues affecting women in Africa.

The World Bank says Zimbabwe could be headed for negative growth by 2016 if no measures are taken to halt the decline.

In its latest Global Economic Prospects Report for 2014, the global lender has revised downwards the country's growth to two percent, further predicting that 2015 will see further slump to one percent.

Zimbabwe is in the throes of deflation caused by a decrease in the demand for consumer goods and falling prices.