Fellow South Africans!
New Year’s Day, the 1st of January 2010, marks the beginning of the most important year in our country since 1994.
Together as a nation we set the tone and made history in April 1994.
We embarked on a phase of reconciliation and forgiveness, and worked hard to build one nation, united in its diversity.
We began the socio-economic transformation of our country to build an inclusive society, out of the racial and ethnic divisions of the past.
We have done well in this regard, over the past 15 years.
The year 2010 is our next critical moment.
We have won the greatest marketing opportunity of our time, the rights to host the 2010 FIFA Soccer World Cup.
Greenpoint Stadium - Cape Town
Together as all South Africans, we must make this one of the most successful projects we have ever undertaken as a nation!
The World Cup must revive the spirit of unity and patriotism in the same manner that the 1995 Rugby World Cup brought the nation together.
It must remind us that there is a lot to celebrate about our country. Our successes have made us an inspiration to the world in a manner that many South Africans do not even realise.
We have proven to the world that it is possible to emerge from a horrible conflict, and work together as various political parties, to build a successful, peaceful, stable, multiparty constitutional democracy.
Together we have built a country that proudly espouses non-racialism and non-sexism, and which enshrines the supremacy of the Constitution and the rule of law.
Together we have built an accessible democratic State, founded on the values of human rights and freedoms. Among those who have played some part in these achievements are the opposition parties represented in our democratic parliament
Together we must make 2010 the year in which we renew our commitment to national unity and nation building.
This we must do as all political parties, traditional leaders, business, labour, youth, sports bodies, women, the media, religious leaders and all sectors.
It must be a year in which we put South Africa first, and take forward our collective mission to shape this country into one of the most successful constitutional democracies in the world.
It must be the year in which we work together to make the Soccer World Cup the biggest turning point in the marketing of our country.
The year 2010 must be the year in which for the first time, we all communicate positive messages about our country to the world - the successes and possibilities. We have to put the culture of negativity behind us.
Together we must ensure long-lasting benefits for the country. There is a lot to be gained from the World Cup.
We can already see the fruits of the tournament. We have new magnificent stadia, roads and new-look international airports.
Through the major boost to the construction industry, many of our people obtained work and training opportunities, and this helped to reduce the impact of the recession.
Working together we must ensure that the tournament enhances our country’s global competitiveness. It must contribute to long-term economic growth and the creation of decent jobs.
Fellow South Africans,
As hosts, we must be welcoming and hospitable to the thousands of international visitors and soccer teams. We must all be active ambassadors of our country!
We must support our National team, Bafana Bafana. With the nation behind them, they will perform well and make us proud.
Most importantly, we must make 2010 an exciting and most enjoyable year for all of us!
Happy New Year and Happy 2010 Soccer World Cup to you all!
Tags: Economic Development · Economy (General) · Education · Interesting Articles
Africa Classroom Connection is hosting a South African play “The Syringa Tree” on August 6, 2009 in Minneapolis. Please click on the invitation for more information. Your support for this event will be highly appreciated.
Tags: Tourism
A Pre-qualification Notice for the supply and maintenance of toll tags for the Gauteng Open Road Tolling system and all other toll roads in South Africa. Successful Applicants will be allowed to tender to supply and maintain approximately 1 million toll tags.
The South African National Road Agency (an Agency of the National Department of Transport) will highly appreciate it if you are able to distribute this Notification on your website or by any other means to any interested potential contractors in your country of responsibility as soon as possible, as questions will only be allowed until 20 April 2009 and applications closes on 29 April 2009.
Download Gauteng Toll Tags Supply - Pre qualification notice
Tags: Economic Development · Economy (General)
Written by Rozaane Johnson
Charges against African National Congress (ANC) leader Jacob Zuma were dropped on Monday, April 6, 2009. Mr. Zuma was faced with 16 charges of fraud, corruption and racketeering stemming from his relationship with Schabir Shaik, convicted fraudster. The National Prosecuting Authority (NPA) leaders decided to drop charges again Mr. Zuma due to internal political interference, which “made it ‘neither possible nor desirable’ to proceed with the prosecution.” Mr. Zuma may not be legally guilty of these charges, but this does not mean he was not involved with Mr. Shaik. Jacob Zuma maintains his innocence and insists that this was an attempt to hurt his reputation. Although no charges were brought against Mr. Zuma, there is no question that doubt and suspicion will follow him in his future, and it has instilled this same judgment on the ANC.
Zapiro Cartoons © Copyright Zapiro
In order to help with the economic difficulties in South Africa, a R4-billion expanded public works program by the government was launched; a second phase aimed at creating 4.5-million jobs in the next five years. The program aims at creating jobs across the board ranging from health care to community safety positions. This would significantly help South Africa’s 3.9-million (and growing) unemployed citizens. Job creation, poverty, and crime have been a central theme in the ANC’s political campaign; however Jacob Zuma’s recent corruption scandals have overshadowed these themes. There is a lot of skepticism of the feasibility and effectiveness of such a program, especially in such a short time period.
Another attempt at reducing the effects of the global economic downturn include interest rate cuts. General Matthew Phosa (treasurer of the ANC) addressed the ANC’s Progressive Business Forum, and mentioned that the slowdown in foreign exchange, stemming from the commodities “meltdown”, is one of South Africa’s biggest challenges. Phosa proposed interest rate cuts by the Reserve Bank, removing internal hurdles to competition. Some relief is expected from the 2010 Soccer World Cup. The event is expected to contribute R55.7-billion to the country’s GDP and generate R19.3-billion in tax income.
In March, South Africa’s gold and foreign currency reserves rose one percent, putting the central bank in a better position to buy dollars. Sustainability of building reserves is still unclear because it is uncertain whether the Rand will be able to hold on to its gains during these economic times.
Currently trade between North and Southern Africa takes between three and four days to cross the Zambia-Zimbabwe border. In order to improve the efficiency, The North-South Corridor initiative was started. This initiative aims to get goods to market faster and cheaper. They plan on improving infrastructure and cutting the border crossing time in half. This project also hopes to increase the overall living standard of citizens across the country.
World leaders pledged $100bn in aid for developing countries and promised to give more voice to developing countries in economic decision-making at the G20 meeting in London in early April. South Africa, which has so far avoided a recession, is the only African country in the G20.
South African President Kgalema Motlanthe said “We have as the central pillar of the recovery plan the saving of jobs because there’s a recognition that this summit could not only focus on technical aspects of the economy but that the economic meltdown affects people, affects ordinary working people.” SA Economists have been warning that up to 300,000 jobs could be lost this year, pushing South Africa’s unemployment up from the current level of 22%.
Tags: Economy (General) · Events
What:
This symposium explored foreign investment opportunities in Africa in the wake of the global economic downturn.
Featured were representatives from financial institutions and multinational corporations active in the Sub-Saharan region that highlighted the following topics:
- South Africa and Intra-Regional Investment
- U.S. Investment in Africa
- African Investments by the BRIC Countries
Sub-Saharan Africa is widely recognized as the “next frontier” of the global economy, with the Republic of South Africa as the international gateway to that richly endowed region.
Speakers:
Mark Chiavello, Director, Corporate Investment Banking, Standard Bank of South Africa
Dr. Anthonie Lombard, former Vice President of Ecolab
Dr. David Bartlet, Partner of BartlettEllis LLC.
Highlights:
Mr. Chiavello highlighted the importance of “South Africa and Intra-Regional Investment”. Specifically, he mentioned the growing stability of the African governments, and the effects this has on Intra-Regional trade and investments in Africa. He also discussed the major role that South Africa plays in the economic development of the Sub-Saharan region, and the potential of Nigeria to become one of these major players. Currently, Standard Bank is in the process of raising $100M USD (raised in the US) to provide small agricultural enterprises in Africa with the necessary financing to grow their business. For more information on Mr. Chiavello’s presentation, see the attachment Standard Bank - Symposium on Foreign Investment in Africa.
Dr. Anthony Lombard mentioned the opportunities for partnerships in Africa to innovate. He mentioned that in 2007, the trade with sub- Saharan Africa made up a mere 1.3% of total U.S. global exports. Most U.S. trade with sub-Saharan Africa is with a small number of countries. Eighty-one percent of U.S. imports from the region were from three SSA countries in 2007: Nigeria (49%), Angola (18%), and South Africa (14%). Exports were similarly concentrated, with 66% of U.S. exports to three countries: South Africa (38%), Nigeria (19%), and Angola (9%). The remaining countries each accounted for less than 6% of U.S. exports to the region. It was also highlighted that U.S. investment in Africa is heavily toward natural resources: 47% of total U.S. investment in Africa is in the mining sector (including petroleum). Given the relative success of initiatives such as AGOA and the notion that sub-Saharan Africa, provides both “Rising Tide” and a “Base for Growth” opportunities for US investors, Dr. Lombard thinks there are two burning questions:“Where should we focus?” and “What could the role of innovation and technology be?” During the remainder of the presentation he focused on some possible answers to these questions, as well as some additional sources for investment in Africa (Water Shortage, Life Expectancy, Sanitation in Africa). He closes by saying “Much has been said and written about South Africa’s economic role in Africa. In the context of US investment in Africa, there are many opportunities. From the dark days of US disinvestments, through re-investment and the realization that South Africa often should be the appropriate gate-way into sub Saharan Africa for many US firms.” For more information of Dr. Lombard’s presentation, see attachment: US Investment in Africa - Emphasis on sub-Saharan Africa.
Dr. David Bartlett focused on “African Investments by BRIC Countries”. These countries include Brazil, Russia, India and China. He first mentioned the predicted economic growth path (GDP growth) of the BRIC countries from 2008 to 2010; with an increasing GDP growth between 2009 and 2010. He also mentioned that China, specifically, is inreasing investment in Africa’s natural resources, contrary to what we are seeing from the US. The question of “Why doesn’t the US Invest more in Africa?” came up and caused for some debate. Dr. Bartlett highlighted that foreign direct investment of the BRIC countries have increased (with the exception of Brazil) from 2005 to 2007. Cross Border Mergers & Acquisitions (foreign purchases by sector) in Africa have changed between 2005 and 2007. M&A in the Primary Sector, as a percentage of total foreign M&A, have increased dramatically from a mere 9% to a startling 45%. He mentioned some global challenges that investors are faced with such as intellectual property, risk management, brand equity, and FDI protectionism. Dr. Bartlett concluded with a list of competitive advantages of the BRIC countries which included: Factor Costs, Human Capital, Entrepreneurial Energy, Technology, Second-Mover Advantages, South-South Affinities, Financial Resources, and Relations with Home States. For more information on Dr. Bartlett’s presentation, see attachment: African Investments by BRIC countries.
Sponsored By:
The College of Management and First College at Metropolitan State University
Standard Bank of South Africa
The International Marketing Council
The South Africa Minnesota Business Council
Attachments:
Standard Bank - Symposium on Foreign Investment in Africa
US Investment in Africa - Emphasis on Sub Saharan Africa
African Investments by BRIC Countries
Photos:
Tags: Agriculture · Economic Development · Economy (General) · Investing · SA Products
