The African > Economy

Kazan gathering: A turning point for the Global South?

Sun, 20 Oct 2024 06:30:00 GMT

Former president of Brazil and economist Dilma Vana Rousseff, the chairperson of the New Development Bank, addresses a Bank meeting at the Cape Town International Centre on August 31, 2024. The NDB is a multilateral development bank that aims to mobilise resources for infrastructure and sustainable development projects in BRICS and other EMDCs.

Instead of a climate villain, livestock can be a solution with legs

Thu, 10 Oct 2024 05:00:00 GMT

Maasai herders watch their cattle in Tanzania. For places where livestock is deeply embedded in livelihoods and culture, it is critical to see these farm animals from our perspective and help channel climate and biodiversity finance into their potential as a force for good. – Picture: Soleil-Chandni MousseauBy Ali MohamedLivestock are a vital component of both the African food system and rural livelihoods.

Focac: China, Africa join hands in busting poverty, growing economies

Tue, 17 Sep 2024 07:30:00 GMT

Ambassador of China to South Africa Wu Peng addresses South African National Press Club on September 13. Most journalists emphasised that Africa had a lot to learn from China especially in terms of eradicating poverty and boosting economic growth. China has done remarkably well in both aspects while Africa continues to struggle.

Internet of fish: empowering Lake Victoria women

Tue, 10 Sep 2024 05:30:00 GMT

Rio Fish women fish farmers weighing the fish they harvested from their cage farm near Rasira beach in Homa Bay County, Kenya. Along the shores of East Africa’s Lake Victoria, in Kenya, women fisherfolk including those known for being victims of sexual exploitation are harnessing the Internet of Things (IoT) to help them counter their abusers while enhancing their incomes, the writer says.

Economic diplomacy at the centre of renewed China, Africa relations

Sun, 08 Sep 2024 08:30:00 GMT

African leaders applaud Chinese President Xi Jinping, centre, after his speech at the opening ceremony of the Forum on China-Africa Cooperation (FOCAC) in Beijing’s Great Hall of the People on September 5, 2024. President Xi Jinping has enjoined China and African countries to pursue a modernisation process that was just and equitable and to act in accordance with national circumstances, as opposed to a Western modernisation process that has brought suffering and misery to developing countries.

KZN engineering graduates step up to end load shedding

Sun, 08 Sep 2024 06:00:00 GMT

Eskom’s leadership, from left, Group CEO Dan Markane and Chairperson Mteto Nyati in conversation with Minister of Electricity and Energy Kgosientso Ramokgopa at a media briefing on the country’s Energy Action Plan held on May 20 this year in Sandton. Eskom strengthened its policy oversight by having more credible suitably qualified people appointed to its board, under the leadership of a seasoned corporate leader Mteto Nyathi, who previously served as the CEO of MTN and Altron, the writer says.

A generational opportunity for the Global South

Sat, 07 Sep 2024 08:45:00 GMT

South Africa’s Deputy President Paul Mashatile speaks at the ninth annual meeting of the New Development Bank in Cape Town, South Africa. The G20 needs to go ‘Back to Basics’ where urgent intervention is needed as the IMF and powerful banks and creditors extract value and interest from the poorest nations while imposing austerity.

Read the full article

Lifting 800 million people out of extreme poverty: Lessons for South Africa from China

Thu, 05 Sep 2024 05:00:00 GMT

President Cyril Ramaphosa during a state visit to China, where he met with President Xi Jinping ahead of the Forum on China-Africa Co-operation (FOCAC). The two leaders issued a joint statement in which one of the points is that ‘China is committed to sharing with South Africa experience in poverty alleviation and rural revitalisation; in building poverty alleviation model villages and offering support for South Africa’s co-ordinated urban and rural development’.

Economic co-operation is the bond that binds Africa and China

Thu, 05 Sep 2024 04:30:00 GMT

President Cyril Ramaphosa greets Chinese ministers during his state visit on September 3, to China ahead of the 2024 FOCAC annual meeting in Beijing. Initiatives under the FOCAC framework have shown that platforms promoting South-South co-operation can deliver substantial outcomes, the writer says. – Picture: GCIS By Busani NgcaweniThe Forum on China-Africa Co-operation (FOCAC) summit has triggered a wave of optimism and anticipation.

Academics’ roles vital for building a high-quality China-Africa community – Xi Jinping

Tue, 03 Sep 2024 07:15:00 GMT

South African President Cyril Ramaphosa, right, and China’s President Xi Jinping during a ceremony for the delegation of South African Cabinet ministers on a state visit to China ahead of the 2024 FOCAC summit. African scholars’ interaction with Chinese President Xi Jinping prior to FOCAC 2024 underscores the important role of academics in China-Africa relations.

Trade unionism vs the oligarchy on Labour Day and every day

Tue, 03 Sep 2024 06:30:00 GMT

The working people of our country are increasingly aware of the unprecedented level of corporate greed and power we are now experiencing, and the outrageous level of income and wealth inequality that exists, the writer says. Picture: @BernieSanders / XBy Bernie SandersAs we celebrate Labour Day, 2024, there is some very good news.

Reversing local government financial rot needs a collective effort

Sun, 01 Sep 2024 06:30:00 GMT

Auditor-General (AG) Tsakani Maluleke reported, correctly, “on weaknesses in service delivery planning, reporting and achievement; failing municipal infrastructure; and the increasing pressure on local government finances due to a lack of careful spending”, the writers say. – Picture: twitter. com / channelafricaBy Michael Sutcliffe and Sue BannisterEach year around this time, the auditor-general releases the composite report of audit outcomes across the country’s 257 municipalities.

Revolutionising global development financing

Sat, 31 Aug 2024 06:00:00 GMT

Established in 2015 by BRICS countries, the NDB is a multilateral development bank for mobilising resources for infrastructure and sustainable development projects in BRICS and other EMDCs.

Read the full article

Focac: The 24th anniversary of the Forum on China Africa Co-operation

Tue, 27 Aug 2024 06:15:00 GMT

China’s President Xi Jinping addresses the Focac summit in Sandton, Johannesburg, in 2015. To help African countries improve their export capabilities, China has granted complete tariff exemptions for 95 percent of all African export products. The European Union continues to limit imports from Africa by imposing quotas or total import prohibitions for entire industries, such as citrus fruit and meat.

‘Adopting free market socialism, a just thing to do’

Fri, 16 Aug 2024 05:15:00 GMT

An automated container dock in Qingdao, east China's Shandong Province. By adopting a third alternative economic model, which has been tested successfully in Scandinavia, the UAE, and China, South Africa can, in five steps, prepare the ground for a prosperous socio-economic restructure. – Picture: Xinhua/Wang/Taken on May 16, 2018 By Hlumelo BikoFor several years after 1994, the hopes and dreams of every black South African family were sustained by the idea that democracy would usher in a new f. . .

China’s new quality productive forces

Wed, 14 Aug 2024 11:30:00 GMT

A cargo ship loaded with containers berths at a port in Lianyungang, in eastern China's Jiangsu province on August 7, 2024. - China's exports grew slightly slower than expected in July while imports surged, official figures showed on August 7, as the world's second-largest economy charts an uneven recovery.

Overcoming a ‘tapestry’ of conflicts the trigger for growth

Sun, 11 Aug 2024 06:30:00 GMT

People work at the construction site of the 385-meter-high Iconic Tower in New Administrative Capital, about 45 km east of Cairo, Egypt, on March 12, 2019. Carried out by China State Construction Engineering Corporation, the project is a landmark for the China-proposed Belt and Road Initiative. What mostly unites all the nations of Africa is a desire to grow our economies and to create a better life for all our people.

G20 in 2025: Can South Africa follow Brazil’s Big Development agenda?

Thu, 01 Aug 2024 05:00:00 GMT

By attending the AU summit earlier in the year, Lula set the scene for his broad development agenda by announcing the Global Alliance Against Hunger. At a time when the UN prepares for its historic Summit of the Future 2024, Brazil has anchored its G20 presidency on the UN Sustainable Development Goals agenda, the writer says.

China: CPC’s third plenum lives up to its billing

Sun, 28 Jul 2024 06:15:00 GMT

BYD auto maker’s electric cars at the international container terminal of Taicang Port at Suzhou Port, in China’s eastern Jiangsu Province. China, already a world leader in electric cars, seeks to develop its science and technology capabilities, which will see it become a world leader in technological innovation.

Kenyans reject the Finance Bill 2024 amid economic hardship and repression

Sat, 22 Jun 2024 06:00:00 GMT

Police heavily repressed the protests against the Finance Bill 2024 on Tuesday June 18. Hundreds were arrested and brutalised in Nairobi by police forces during protests against the government’s finance bill, the writer says. Picture: Mathare Justice CentreBy Nicholas MwangiOn Tuesday June 18, the streets of Kenya’s capital were the site of a major showdown, as peaceful protesters advocating for the rejection of the Finance Bill 2024 were met with brutal repression by state forces.

SA’s new GNU navigates multiple headwinds in the dynamic global order

Fri, 21 Jun 2024 04:00:00 GMT

President Cyril Ramaphosa and First Lady, Tshepo Motsepe, at the Union Buildings for his inauguration. Ramaphosa enters his second term under the new collaborative Government of National Unity (GNU), which includes parties such as the DA, IFP, Patriotic Alliance (PA), GOOD Party and the PAC. – Picture: Itumeleng English / Independent NewspapersBy Ashraf Patel2024 has been the big bonanza election year highlighting the chaos and discontents with democracy, with a mix of volatile outcomes.

Pakistan seeks closer economic co-operation with China

Thu, 13 Jun 2024 04:00:00 GMT

Pakistan Prime Minister Shehbaz Sharif with Chinese President Xi Jinping. Pakistan claims it shares a common world view with China of creating a “global community” with a shared future, and wishes to imitate Chinese development model to improve the lives of common Pakistanis. – Picture: Shehbaz Sharif / via Peoples DispatchBy Peoples DispatchPakistani Prime Minister Shehbaz Sharif visited China last week with a large delegation, seeking to enhance economic and political relations between the cou. . .

Skills development can ‘empower rural women’

Wed, 12 Jun 2024 05:00:00 GMT

Unique and Innovative Programmes

Read the full article

The perils and promise of the emerging multipolar world

Tue, 11 Jun 2024 05:00:00 GMT

A platform of the Mombasa-Nairobi Railway in Nairobi, Kenya. The Mombasa-Nairobi Standard Gauge Railway in Kenya has become a flagship project of China-Africa co-operation, a show of Chinese enterprises and a demonstration project of the Belt and Road Initiative. The world economy is experiencing a deep process of economic convergence, according to which regions that once lagged the West in industrialisation are now making up for lost time.

Migrating workers provide wealth for the world

Mon, 10 Jun 2024 07:00:00 GMT

Migrants are crucial for poverty reduction and for building wealth in society, but are treated as criminals, abandoned by their own countries who would rather spend vulgar amounts of money to attract much less impactful investment through multinational corporations. – Picture: via World Migration ReportBy Vijay PrashadEach year, the International Organisation for Migration (IOM) releases its World Migration Report.

Dar es Salaam Consensus sets agenda for Focac

Sun, 09 Jun 2024 06:00:00 GMT

President Cyril Ramaphosa, left, and President Xi Jinping at the Focac. The theme, China-Africa Practice: Building a Community with a Shared Future, underlines the strategic compatibility of China and Africa in the current global context, hence the need for the two parties to work hand in hand to chart a future in which their respective peoples will thrive, the writer says.

New gas, oil discoveries a boost for economic growth

Mon, 03 Jun 2024 04:00:00 GMT

A Galp Energia refinery. Portuguese oil company, Galp Energia, which has been granted the Petroleum Exploration Licence 83 by the Namibian government, says the field may have oil reserves of up to 10 billion barrels, according to the writer. – Picture: ANA By Sizo NkalaIt looks like Namibia will soon join the small club of African oil-producing countries.

Rebuild US unions ‘for the good of all’

Mon, 27 May 2024 04:30:00 GMT

UAW workers with signs. Either we think about unionism in new ways and establish new ways of joining other movements, or most of our unions die a long, slow, painful death, the writer says. – Picture: UAWBy Kim ScipesThe labour movement in the United States used to be respected and looked to for leadership; people cared about what positions labour took, watched when they mobilised, and noticed the causes they supported.

Trickle-down economics, not immigrants, threaten the American Dream

Tue, 14 May 2024 04:45:00 GMT

Guatemalan migrants Estuardo Mejia, left, Jeferson Rodriguez, right, and Venezuelan migrant Luis Villalobos, who are part of a caravan heading to the US, pose with rainbow flags at a makeshift camp in Huixtla, Chiapas state, Mexico. Thousands of migrants travel through Mexico in a bid to reach the United States.

Scramble for minerals intensifies conflict, rights abuses

Sun, 12 May 2024 07:30:00 GMT

By Sizo NkalaAs the world makes a concerted effort to limit global temperature increases to 1. 5ºC above pre-industrial levels to prevent catastrophic climate change, a transition towards greener and cleaner energy sources and technologies has begun in earnest. The adoption of green energy technologies such as solar panels, wind turbines, lithium-ion batteries that power electric vehicles and green hydrogen is on the rise.