This is an extract of a keynote presentation I gave at the Sci-Bono Discovery Centre on Thursday, June 21 2012. The advanced development of the internet and the cornucopia of information it provides has only been in existence for just over 18 years. The internet at its current growth rate and development stands to be […]
Business
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The non-payment threat of the working class
By Themba Mbatha We have all accepted that the state’s economic preoccupation in the coming years should be the pursuit of a developmental state. To that end, President Jacob Zuma announced in the State of the Nation address an unprecedented public infrastructure spending programme to achieve the objectives of a developmental state. The estimated R800-billion […]
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Eurozone crisis: Where things stand
On Tuesday, President Jacob Zuma’s office announced that South Africa will contribute $2-billion (R16.3-billion) to an international fund created to bail out Europe’s debt-stricken nations. The government’s pledge is part of a $75-billion commitment from the Brics nations – Brazil, Russia, India, China and South Africa – to help bolster a $456-billion rescue fund administered […]
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The importance of private sector growth and development in Africa
The private sector is Africa’s primary engine of growth. It generates an estimated 70 percent of Africa’s output, approximately two-thirds of its investment and 90 percent of employment on the continent. Based on these statistics supplied by the African Union (AU), the creation and development of private sector jobs is seen as one of the […]
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Capitalism or socialism? We have no choice
It is not surprising that South Africans have trouble thinking straight. The poor live in a state of anxiety and insecurity, while high crime rates have led to a fortress mentality among the rich. Fear and anger permeate our opinions and shape our politics. The haves persist in the shadow of Zimbabwe’s ruin; the have-nots endure, […]
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Levels of peace and stability on the African continent
The concept of “peace” has traditionally been abstract in definition. Perhaps the most workable methodology of approaching the concept of peace is to define it in terms of harmony achieved by the absence of war or conflict. This definition applied to nation states would purport that those countries not involved in violent conflicts with neighbouring […]
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Macroeconomic convergence within the SADC region
Since its evolution from the Southern Africa Development Co-ordination Conference (SADCC) into the Southern Africa Development Community (SADC), the Southern African regional formation has targeted gradually deepening its integration, starting with the creation of a free trade area in the coming decade. In addition to this free trade area, further goals such as the achievement […]
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Euro crisis: What are they on about?
Europe’s debt crisis is looming large over the global economy. Reports are everywhere you turn, but they are often confusing. They tend to be heavy with jargon and light on background. The following quote from a story published by Reuters recently is fairly typical. “German debt prices rose and Spanish bond yields briefly jumped on […]
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Understanding the growing trend of large-scale land acquisitions in Africa
The exponential international interest in investing in African farmland has attracted considerable attention recently. A 2011 Africa Development Bank study notes that 29 million of the 56 million hectares of land – approximately 51.8 percent – sought after by foreign investors globally is located in sub-Saharan Africa. Though countries with abundant uncultivated land attracted the […]
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Challenges to regional integration and trade in Africa
History and the legacy of colonialism have bequeathed the African continent with a legacy of fragmentation. The African continent geographically is divided into 54 countries, 28 of which have a GDP under $10-billion. In addition, 26 countries have a population under 10-million inhabitants, and 16 nations are landlocked. This fragmentation has traditionally been a significant […]
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Tracking economic growth and poverty reduction in Africa
Africa is currently experiencing its most dynamic growth period in recent times. Our continent has achieved an overall growth rate above 6 percent for most of the last ten years. This makes Africa one of the fastest growing regions in the world today, with notable progress in nearly all dimensions of development. Between 2000 and […]
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South Africa’s development paradigm
Development policy in post-apartheid South Africa has traditionally focused on the debate over the superiority of either state-controlled or market systems. Like many other developing world countries before it, South Africa expected that globalisation and the replacement of traditional industries by modern sectors would become a panacea for economic development in our country. Based on […]