Browsing: South Africa

load shedding
  • The energy crisis in South Africa has significantly impacted the nation’s economic growth, potentially reducing it by up to 3.2 percentage points in 2022.
  • President Cyril Ramaphosa declares that the end of load shedding in South Africa is “finally within reach.”
  • This president’s assertion is a ray of hope for millions of citizens who have endured the disruptive effects of load shedding for far too long.

South Africa has long grappled with the scourge of load shedding, a term that has become synonymous with power cuts and energy instability.

However, this week, President Cyril Ramaphosa during his 2024 State of the Nation Address (SONA) sparked optimism across the continent’s most advanced economy, suggesting that an end to frequent load shedding may finally be within reach.

President Ramaphosa’s Optimistic Proclamation

During his SONA in Cape Town, President Ramaphosa expressed confidence that South Africa is on the brink of overcoming its …

SIM swap fraud
  • The threat of SIM swap fraud looms large over South Africa’s telecommunications landscape.
  • Strengthening identity verification practices is paramount to safeguarding consumers and preserving trust in the digital ecosystem.
  • Operators need to define practical, robust security solutions that adhere to and surpass current telco legislation.

In today’s digital age, where mobile phones have become an indispensable part of everyday life, the threat of SIM swap fraud looms large over South Africa’s telecommunications landscape.

Gur Geva, founder and CEO of face authentication and identity verification platform , iiDENTIFii, underscores the critical importance for mobile networks to prioritize customer protection and combat this pervasive menace.

“While there has been a slight decline in reported SIM swap fraud cases, mobile service providers must remain vigilant and bolster their data security measures,” asserts Geva.

Despite strides in mitigating fraud, fraudsters continue to exploit vulnerabilities in identity verification processes, underscoring the imperative for enhanced …

Africa's economic growth 2024
  • Africa’s economic growth in 2024 is expected to be upward with the real GDP projected to grow by 3.2 per cent, up from 2.6 per cent in 2023.
  • East Africa, encompassing Ethiopia, Kenya, Uganda, Rwanda, Tanzania, and the DRC, will again power the continent’s growth prospects.
  • Despite the projected continental growth, the intelligence unit faces substantial risks, including security threats, political instability, and debt repayment burdens.

Africa’s economic growth 2024

According to the international research unit, Economic Intelligence, Africa is expected to grow at the second-fastest rate among major regions globally in 2024. The unit ranks behind Asia, which China and India will propel.

Except for Sudan and Equatorial Guinea, whose economies appear destined to decline this year, most African governments are predicted to report good growth stories.

The real African GDP is expected to rise by 3.2 per cent in 2024, up from 2.6 per cent in 2023,

IFC
  • International Finance Corporation targets specific projects in Côte d’Ivoire, Egypt, Kenya, Morocco, Senegal, and South Africa.
  • IFC’s $30 million (Sh4.8 billion), own-account investment will help Africa Infrastructure Investment Fund 4 Partnership (AIIF4) exceed its final close target of $500 million (Sh80.4 billion).
  • A pan-African infrastructure private equity firm called the Africa50 Infrastructure Acceleration firm I is raising up to $500 million for investments

Kenya is among six African countries that International Finance Corporation (IFC) will pump $30 million (about KSh4.8 billion) equity investment to fund works on essential infrastructure.

The fund, managed by Africa Infrastructure Investment Managers (AIIM), part of the Old Mutual Group, will support projects in the telecoms, renewable energy, and transport sectors across Africa but with a specific focus on Côte d’Ivoire, Egypt, Kenya, Morocco, Senegal, and South Africa.

In the telecoms sector, the fund will focus on financing data centers, fiber networks, and communications towers. In …

fastest-growing economies in 2024 | The Exchange

Africa will be the second fastest-growing regional economy in 2024. Over 10 African countries will experience substantial GDP growth. In October 2024, the International Monetary Fund emphasized Africa’s pivotal role in global economic development and resilience.

Africa could face economic headwinds this year. However, some of the continent’s brightest spots are lighting up the economic prospects. According to the International Monetary Fund, six of the top 10 performing nations globally are projected to come from Africa in 2024.…

US-Africa trade relations
  • Continuing from the discussion of evolving US-Africa trade relations, a key aspect of this dynamic is the strategic objective of countering Chinese influence on the continent.
  • By 2024, Africa is poised to undergo a significant shift in geopolitical and economic dynamics, emerging as a crucial arena for global powers such as China and the US.
  • The evolving focus on Africa is driven by its transforming economic landscape, marked by rapid growth, a youthful population, and abundant resources, attracting attention from major players seeking strategic advantages.

By 2024, Africa will have witnessed the beginning of a new age in the geopolitical and economic dynamics of the world. In recent years, the continent has shifted its focus from humanitarian issues and developmental assistance to becoming an important strategic arena for the world’s leading powers, particularly China and the US. Several elements are coming together to highlight Africa’s growing importance internationally, driving this …

SA1
  • One of the convenient instruments for shielding investment portfolios from market uncertainties is South African gold exchange-traded funds (ETFs).
  • South African Gold ETFs represent a distinctive investment vehicle designed to provide investors with exposure to the gold market without the complexities of owning physical gold.
  • These ETFs are created to mirror the movements in the price of gold, typically denominated in the South African rand.

Embarking on the realm of gold investment often stands as a pivotal shield for portfolios during periods of financial fluctuations and market uncertainties. One of the convenient instruments for such a purpose is South African gold exchange-traded funds (ETFs).

In this article, we delve into the prospects of investing in gold in South Africa, discussing potential benefits, risks, and the necessary steps to initiate engagement in this exciting market segment.

Understanding South African Gold ETFs

South African Gold Exchange-Traded Funds (ETFs) represent a distinctive …

Australia-Africa relations | Africa's mining sector
  • The mining sector, a vital generator of economic growth, will benefit significantly from Australia-Africa relations. 
  • Australia’s presence in Africa’s mining sector is both extensive and growing.
  • As part of Australia’s expanding economic footprint in Africa, several Australian mining companies have established notable operations across the continent, tapping into its abundant natural resources.

The mining sector, a vital generator of economic growth, has witnessed Australia making considerable inroads into Africa. The continent, rich in natural resources, has attracted a flurry of investments from Australian mining companies, recognizing Africa’s untapped potential and vital role in the global mining scene.

The scale of Australian investment in Africa’s mining sector

Australia’s presence in Africa’s mining sector is both extensive and growing. With over 145 ASX-listed mining companies operating just under 500 mines in various development phases across 34 countries, the Australian mining influence is expansive.

In a more comprehensive sense, at least 170 Australian …

Medical tourism
  • With untapped potential in private healthcare, skilled doctors, and a growing interest in medical care, South Africa is making its mark in providing top-notch healthcare services.
  • Only 297 people came to South Africa for medical reasons in October 2023, less than 0.1 per cent of all visitors. Even though it seems small, it's a sign that more people are choosing South Africa for specialized medical care.
  • Medical tourism refers to travelling abroad for medical care or treatments not available at home or which are more expensive there than elsewhere.

South Africa is becoming a popular choice for people seeking medical treatment, not just for vacations. The South African medical industry has pioneered many ground-breaking surgeries and medical research, including the world’s first heart transplant and more recently, the world’s first middle-ear bone transplant using 3D printed components. The Southern African Development Community (SADC) recognizes the country for its excellent healthcare,…

South Africa labour market
  • Artificial Intelligence (AI) is emerging as a key player in transforming South Africa's labour market and empowering its youth population.
  • Initiatives focused on AI education and skill development can equip the youth with the competencies necessary for the evolving job market.
  • This ensures that they are well-prepared for the increasing integration of AI technologies across various industries.

Africa is home to the world's youngest population, but unfortunately, 60 per cent of the continent's unemployed are youth, as highlighted by the United Nations. This trend is mirrored in South Africa, despite the government's efforts, such as allocating R5.2 billion in tax relief in the 2022 National Budget to spur economic recovery and encourage youth employment.

The impact of the COVID-19 pandemic has been acutely felt in South Africa's labour market. According to Labour market dynamics in South Africa 2022 report published by Statistics South Africa, stringent containment measures resulted in a