Economy in South Africa

  • Nigeria and South Africa emerge from recession

    SOUTH AFRICA, 2017/09/09 Two of the major economies in Africa are growing again next recessions. Nigeria‘s GDP expanded by 0.55% in the second quarter of 2017 year-on-year, according to the National Bureau of Statistics, ending five consecutive quarters of contraction. Quarter-on-quarter increase for the same period was 3.23%.
  • Africa’s economic growth in 2016 was driven by East Africa

    BOTSWANA, 2017/08/20 While the continent’s major economies were hit by the fall in commodity prices in 2016, Africa retained its position as the second-fastest growing continent globally recording an average of 2.2% GDP increase, behind only South Asia, according to the African Development Bank Group (AfDB). Much of Africa’s increase in 2016, AfDB says, was driven by East Africa where several nations recorded “strong performances.” In general, of the continent’s sub-regions, East Africa posted the highest increase rate with 5.3%, led by Ethiopia.
  • IMF issues warning on SA economy

    SOUTH AFRICA, 2017/07/10 The International Monetary Fund (IMF) has warned South Africa's vulnerabilities have become additional pronounced and could increase unless economic increase is revived. The IMF says South Africa’s economic increase is projected to increase to 1% this year and just 1.2% in 2018.
  • South Africa has a tough fight to keep its title as Africa’s top economy

    SOUTH AFRICA, 2017/07/10 South Africa, Nigeria and Egypt have spent the last year shuffling around as the top three economies in Africa – but with a technical recession and economic growth slowing to a crawl, SA’s spot as “Africa’s number one economy” won’t be around for much longer. The IMF recently released its World Economic Outlook for April 2017, showing how all the countries in the world currently sit on a number of economic indicators, as well as how they are projected to perform to 2022.
  • Global economic gravity rapidly pulling towards Africa

    BOTSWANA, 2017/06/20 The second International Conference on the Emergence of Africa (ICEA) was held in Abidjan, Côte d’Ivoire, in March 2017. Since the initial conference in 2015 — at a time of robust economic increase on the continent — hopes for economic evolution have dimmed because of a crash in the price of commodities, volatile world financial markets and a slowdown in world increase. Before departing New York to attend the second ICEA conference, jointly organised by the World Bank, the African Development Bank and the United Nations Development Programme (UNDP), Assistant Secretary-General of the UN and chief of UNDP’s Regional Bureau for Africa Abdoulaye Mar Dieye sat down for an interview with Africa Renewal’s Kingsley Ighobor to talk about Africa’s economic development opportunities and challenges.
  • Take responsibility for transforming your countries – Akufo-Addo

    BOTSWANA, 2017/06/15 President Nana Addo Dankwa Akufo-Addo has urged African leaders to assume responsibility for the transformation of their economies, and depart from the mindset of aid, dependency and charity. “If we, Africans, are to transform our stagnant, jobless economies, built on the export of raw materials and unrefined goods, to price-added economies that provide jobs, to build strong middle-class societies and lift the mass of our people out of dire poverty, again we must take our destinies into our own hands and assume responsibility for this,” he stated on Monday at the same time as addressing the G-20 Partnership for Africa Summit, currently taking place in Berlin, Germany.
  • South Africa: Country's in a Recession. Here's What That Means

    SOUTH AFRICA, 2017/06/07
  • Rise of middle class, fact or fiction

    BOTSWANA, 2017/04/26 White-walled tyres on his bike appear to elevate a trendy young man from the lower classes but the question is whether he is contributing towards sustainable economic increase. THE middle classes in the world south have gained growing attention since the turn of the century, mainly through their rapid ascendancy in the Asian emerging economies. A side result of the economic increase during these “fat years” was a relative increase of monetary gain for a growing number of households. This as well benefited some lower gain groups in resource-rich African economies. A lot of part these crossed the defined poverty levels, which were raised in late 2015 from $1.25 (R16) a person a day to $1.90. As some economists had suggested, from as little as $2 they were considered as entering the “middle class”.
  • These Three Billionaires At Top of SA's Inequality Shocker

    SOUTH AFRICA, 2017/01/17 The wealth of three South African billionaires is equal to that of the bottom half of the country's people, said Oxfam SA in a statement released on Monday. The statement, entitled 'An economy for the 99%', coincides with the upcoming 47th World Economic Forum (WEF) annual conference in Davos. Oxfam South Africa research and policy lead Ronald Wesso confirmed to Fin24 by phone that the top three billionaires were retail tycoon Christo Wiese, Glencore CEO Ivan Glasenberg and Aspen Pharmacare chief executive Stephen Saad. This data is based on data made available by the JSE in December 2016, and is based on share holdings, according to Wesso.
  • Data can fuel Africa's economic growth

    BOTSWANA, 2016/11/30 Africa is home to some of the world’s fastest-growing economies and one of the majority promising regions for international investment . This increase could be accelerated by addressing a fixable problem: lack of good data. Reliable, accessible data plays a critical role in any economy. Investors require data before making decisions, and the additional complete and up-to-date the data, the better their willingness to invest. Data as well helps public officials make sound decisions that promote increase and innovation, and enables citizens to hold government and business accountable.