The South African government last week announced a resumption in international visitors to the country amid a COVID- 19 infection reality. 

Earlier this year, South Africa, like many other countries, shut itself out from the world to control the spread of COVID within its borders. It immediately implemented local lockdowns which have been gradually lifted in different phases. 

Authorities had initially indicated that international borders were billed to be opened in February 2021. The country has, however, given the green light to international visitors in order to stimulate a faltering tourism sector.

Initially, borders were opened on October 1 but excluded visitors from many countries that were classified as high risk. 

Last week, the government updated its travel restrictions alert, opening up entry to all countries.

The opening up of borders is aimed at arousing the tourism sector in South Africa which contributes significantly to GDP. It has been …

Zimbabwe’s Mining Sector,

In the 6th State Of The Mining Industry Prospects For 2021 Report, Zimbabwe’s mining sector representatives projected an optimistic outlook for 2021, citing an improvement in COVID-19 control, rising commodity prices, and an improved fiscal environment.

The mining sector faced a difficult year on the back of falling commodity prices. The situation was exacerbated by the impact of the COVID-19 pandemic which ravaged the entire globe.

The findings of the report indicate that the mining sector business confidence index is expected to improve to +3.1 in 2021 from 2.2 in 2020. The mining sector business confidence index is a measure of optimism (or lack of it) among mining executives.

Of the respondent interviewed, 90% of the miners in the country said they are looking forward to expanding their businesses in the coming year. This is in contrast with the 10% that don’t foresee any change in …

South Africa bears a dark history of racist apartheid. Under the apartheid regime that came to an end in 1994, black people were considered inferior citizens with no rights whatsoever. The end of this callous regime brought policies meant to equalize the previously disadvantaged populace. 

Among these policies is the Broad-Based Black Economic Empowerment (BBBEE) policy that sought to empower and integrate black people into mainstream business and the corporate world.

Is Racism alive in Corporate South Africa?

Allegations of racism have risen in spite of the existence of BEE policies. If this case is anything to go by, it would appear that certain sections of the Corporate world are using the same policy meant to protect black people against them. 

In a matter to be heard in the courts tomorrow, Tuesday 10/11/2020, tech behemoth and businessman Andile Ngcaba is taking on a technology company, Dimension Data Middle …

The government of Zimbabwe has set in motion an economic roadmap for the next 5 years. The new blueprint is anticipated to achieve a 5% growth in the country’s economy over a period of 5 years to 2025

Dubbed the National Development Strategy (NDS) 1, the economic blueprint replaces the transitional development strategy phase which the government says has achieved critical success.

The NDS 1 will therefore be rolled out under better economic conditions than the TSP and carries with it bold strategies and policies to catapult economic growth,” Mnangagwa said.

The country’s president Emmerson Mnangagwa announced the new plan which he said was supported by accelerated growth on the back of improvements in mining, agriculture tourism, and the manufacturing sector. 

The country is finance minister is expected to deliver the financial banking of this plan when he presents his budget this month

Some of the highlights of the economic …

It looks like a Biden victory has for all intents and purposes been decided in the rather interesting election in the US elections 2020, which saw the largest voter turnout since 1990. The result of the elections stands to have a far-reaching effect on African economies and on South Africa in particular. 

Why is South Africa of consequence?

The US is one of South Africa’s largest export destinations with 2019 figures indicating exports to the USA valued at ZAR 89 billion ( USD5.7 billion) in iron and steel, precious metals, and mineral products among others. In terms of imports, the US commands a significant share of American imports, a figure that stood at ZAR 83 billion (USD5.3 billion) as of 2019.

South Africa is the second biggest gold producer and the largest procedure of minerals such as chrome, platinum, and vanadium. The country also has a significant agricultural sector …

China Development Bank

The Zambian government announced an agreement with the China Development Bank (CDB) to defer a loan repayment that fell due in October 2020.  The terms of the deal include a halt on interest payment for six months, with payment of interest expected to resume in April 2021. The principal due was also postponed and will be rescheduled over the entire loan period. Chinese lenders are not known for their flexibility which is why the deal comes as a welcome shock.

I’m glad to learn that China Development Bank has reached a debt deferral agreement with Zambia. This fully shows that in addition to official creditors, other Chinese financial institutions are also actively resolving the debt issue of Zambia and other African countries.

Wu Peng, Director-General, Department of African Affairs, MFA, China on Twitter

 

The government did not, however, disclose the size of the debt or the …