Browsing: South Africa

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.…

• 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 …

• 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 …

• 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 …

• 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, …

• 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 …

• Mozambique’s Green Energy Transition Strategy (ETS) to drastically reduce its dependence on fossil fuels.
• As a nation with one of the world’s lowest electricity consumption rates, Mozambique is poised to leapfrog into a new era of energy sufficiency and independence.
• Mozambique’s success or failure of this venture could offer valuable lessons for other countries grappling with the complexities of sustainable development and climate-aligned economic growth.

Mozambique’s green energy move

Mozambique has embarked on an $80 billion Energy Transition Strategy (ETS) to drastically reduce its dependence on fossil fuels. This bold initiative, set to be unveiled by President Filipe Nyusi at the COP28 international climate summit in Dubai, represents a significant pivot towards sustainable development and positions Mozambique at the forefront of the global green energy transition.

At the heart of Mozambique’s strategy is integrating 2,000 megawatts of hydropower capacity by 2030, which aims to address the country’s energy poverty and …

• Artificial Intelligence (AI) offers new job opportunities for tech-savvy African graduates.
• African policymakers must, however, protect current employees from job losses in the new AI era.
• Gen AI has the potential to offer solutions for Africa’s medical, nutrition, and financial difficulties.

Artificial intelligence (AI) is the new frontier, offering numerous possibilities for efficient productivity. However, what does it mean for Africa’s job sector?

AI means new job opportunities for tech experts. Yet, it also means lost jobs for less tech-savvy staff. For example, Generative Artificial Intelligence (Gen AI) can generate text, images, or other media using generative models. This implies that graphic designers, copywriters, artists, personal assistants, and others are no longer needed.

“Gen AI is being embedded in everyday tools like email, word processing applications, and meeting software, which means the technology is already positioned to radically transform how people work,” writes Sandra Durth, a researcher with consulting firm, …

South Africa-based insurer Hollard International has extended its footprint into East Africa. Hollard, a privately owned insurance, has struck a deal to acquire a stake in Apollo Investments Limited, the parent company of Kenya-headquartered APA Insurance.

This strategic investment, subject to regulatory approvals, gives Hollard International a presence in the East African market. The new acquisition supplements its existing operations in Southern and West Africa. Once approved, Hollard will become the second international investor in APA Insurance, following Swiss Re, which acquired a stake in 2014.…

The African Development Bank (AfDB) has initiated a five-year plan to stimulate growth in South Africa, the continent’s most advanced economy. Dubbed the Country Strategy Paper (CSP) 2023-2028, AfDB has outlined two main lines of action. The Bank aims to enhance governance while deploying strategies to revamp the private sector.
Concerning governance, CSP 2023-2028 will support the South African government in its efforts to address persistent structural challenges. This approach aims to promote industrialisation and establish a faster, more inclusive growth trajectory to combat poverty.…