Tag Archives: economic growth

#KnowYourDA BEE pushes nothing new

I was snooping around the archives of the South African Institute of Race Relations during a visit earlier this year, particularly drawn to the boxes on the constitutional negotiations. One of these contained, among other things, the ANC’s position on a constitution for what would later become KwaZulu-Natal, academic and political discussions on federalism, and…

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Economic growth set to reduce poverty in Africa

Economic growth in sub-Saharan Africa is likely to reach more than 5% on average between 2013 and 2015 as a result of high commodity prices worldwide and strong consumer spending on the continent, ensuring that the region remains among the fastest growing in the world. In 2012, about 25% of countries on the African continent…

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Regional trade can boost Africa’s growth, jobs

There is strong consensus that regional integration is indispensable in promoting intra-African trade especially with a large African market of one billion consumers, which can be a powerful engine for growth and employment. Despite the underlying market potential for both cross-border and export trade, the volumes and values of the goods traded in the regional…

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South Africa 2013

South Africa’s potential growth has slowed over the last few years. Considerable efforts will be needed to meet the Government’s goal of raising per capita income and to create 11 million new jobs by 2030. Moreover, inequality continues to be unacceptably high, suggesting that making growth more inclusive remains an important policy challenge. Our government…

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SA’s woes will ripple through region

Growth in sub-Saharan Africa has remained generally robust against the backdrop of a sluggish global economy. Regional output is projected to expand by at least 5% in 2012 to 2013, a similar pace to that recorded in 2010 to 2011. That being said, there is significant variation across the region, with solid expansion being recorded…

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The Economist gets it wrong — again

It’s easy to satirise the kind of journalism that led to the now famous October 20 “Cry, the beloved country” cover story of the Economist magazine. There are two stories in the edition, a short “leader” article and the main story. This is the intro of the main story in the magazine: “It has made…

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Investment flows back into Africa

Over the past 10 years, foreign direct investment (FDI) has helped boost sustainable economic growth in many African countries. In theory, FDI can assist to accentuate productive capacity, employment and exports. When properly managed, it can also bring secondary benefits in the form of transfers of technology, management expertise and marketing skills. With continued liberalisation…

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The role of development banks in times of crisis

Within a historical context, development banks (DBs) have been a critical instrument for governments and administrations to promote and facilitate economic growth. This has traditionally been achieved through providing credit as well as a plethora of advisory and capacity building programs to households, small and medium enterprises and large private corporations, whose financial needs are…

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Keeping Africa’s growth up, poverty down

These are uncertain times for the global economy. The recovery in the US remains sluggish, the debt crisis in Europe is unresolved and more alarmingly, there are signs of a slower growth in China. The global economic crisis, which started in 2007, has not spared the African continent. According to the 2012 African Economic Outlook…

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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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