Tag Archives | development
Applying sustainability thinking to transform rapidly urbanising African cities can yield lasting solutions to the prevailing development challenges. This must be done in deliberate and practical ways so as to deliver the required ideological shifts in mindset to truly place African cities on new development trajectories.
The African Development Bank (AfDB) identified the management of rapid urbanisation in already overburdened cities as one of the key challenges for African policy makers in the coming decades.
The emergence of African cities is the highest form of social organisation, often associated with advancing human development with cities incorporating economic, cultural and political factors. For instance Lagos in Nigeria has boomed from 300 000 inhabitants in 1960 to over 17 million today and Johannesburg is the largest city which boasts some of the richest mineral deposits the world has ever seen …
Africa Brief: Zimbabwe tries to keep rules, manufactured goods exports, AU ban on NGOs at summit and more
Zimbabwe was trying to reach an agreement to distribute its stones directly to China, Dubai and Israel without violating rules against the sale of gems from the Marange fields. The proposal would not violate Kimberley Process rules because Zimbabwe outside of Marange was certified compliant in 2010. Zimbabwe produced 8 million carats of diamonds worth $865 million (R8 billion) last year to be the seventh-largest producer.
By 2030 Africa will have 760 million urban residents. By 2050 the figure is expected to grow to 1.2 billion. This rapid migration has intensified the need to develop Africa’s megacities, and infrastructure has become one of the key strategic priorities amongst senior leaders throughout Africa.
Foreign Direct Investment (FDI) into Africa is on a path of continuous growth according to the Africa Emergence: Rise of the Phoenix report. Growth in the region, to date, has been referred to as only the “tip of the proverbial iceberg”. Our own Yunus Suleman added that the continent has much more to offer, and that Africa is set to hold its title as one of the largest FDI destinations and one of the fastest-growing economies.
Nedbank Group, which announced on Friday it was entering the Mozambican market, remains on target for a solid financial performance this year. Nedbank, Old Mutual Group’s bank subsidiary, is entering Mozambique by acquiring an initial 36.4% stake in Banco Unico for $24.4m. Nedbank plans to take a majority stake later. South African banks are targeting expansion opportunities elsewhere on the continent in line with strategies to tap faster-growing developing countries.
The centralisation of policy decisions in most African countries adds to this, leaving local municipalities out of the loop despite the impact of mega-infrastructure in their area. More comprehensive national development plans will be needed to ensure that the people on the ground enjoy the benefits of economic growth as they were envisaged in the AMV. Boylan suggests tying small business investment to PPP development to promote projects and encourage local participation.
The infrastructure deficit is often noted as having a massive impact on the continent’s development and growth, with infrastructure highlighted as a key area requiring investment. The 23rd World Economic Forum has a central theme of Delivering on Africa’s Promise, and has infrastructure as a dominant and recurring topic for discussion.
Agricultural transformation is about individual farms shifting from highly diversified, subsistence-oriented production towards more specialised, market-oriented production. This involves a greater reliance on input and output delivery systems and increased integration of agriculture with other sectors of the economy.
Diversifying Africa’s resource-dependent economies and speeding up the infrastructure development so vital to its future will be two of the main topics at this week’s World Economic Forum (WEF) on Africa. This week’s event carries the theme “Delivering on Africa’s Promise”.
The Africa Enterprise Challenge Fund has challenged private businesses to do just that. Its Renewable Energy and Adaptation to Climate Change Technologies (REACT) funding window calls for businesses to propose and test out innovative models …
By virtue of their combined size, BRICS nations represent 45 percent of the world’s workforce. But of this workforce a large number are unemployed or unemployable. For BRICS countries, as for Africa, the challenge is how to find ways to develop the skills of the workforce so that is more efficient and productive, to educate and train the unemployed so that they become employable, and – most importantly – to create meaningful jobs for them to fill.
Since BRICS’ inception, enormous opportunities have arisen for trade and investment within and through its member countries. China is currently South Africa’s biggest single-nation export market and South Africa is China’s biggest trade partner in Africa. India-South Africa bilateral trade is expected to reach US$15-billion by 2015, up from $11-billion in 2011.
Representing the world’s fastest-growing emerging markets, the Brazil-Russia-India-China grouping added South Africa to its ranks in 2011. Together the BRICS countries account for 42% of the world’s population …
Africa is the second fastest growing region globally, and as the economies of the African continent continue to grow, it’s important that governments support sustainable growth to create jobs, tackle inequality, and lift their people out of poverty. The theme of the World Economic Forum on Africa 2013 is “Delivering on Africa’s Promise” – apt given Africa’s growing middle class and the global demand for Africa’s resources.
Africa’s rate of urbanisation and the development of cities has been slow, but the rise of emerging African cities has coincided with the continent’s growth and rejuvenation …
After almost two decades of civil war, Mozambique is rapidly emerging as one of the fastest growing economies in Africa. Economic growth is expected to average around 8 percent over the next few years, inflation is slowing from 8 percent in 2012 to an estimated 6 percent by 2016, and current account deficits are declining as a proportion of gross domestic product (GDP) to around 4.8 percent by 2016.
From Cairo to the Cape, major new infrastructure projects are now being planned, developed and delivered with the promise of unlocking stranded natural resources, enhancing prosperity and improving the lives of the continent’s billion citizens.
Over the last few decades, many development objectives have been pursued through multilateral and bilateral donors channelling aid to developing nations through governments, Non-Governmental Organisations (NGOs), United Nations agencies and initiatives such as the Global Fund.
The first decade of the 21st century’s main goal was poverty reduction, but Private Sector Development (PSD) has recently received much priority. The aim of PSD is to get the economic fundamentals right, such as fiscal, monetary and trade policies, privatisation and ‘cutting red tape’.
South Africa remains the most targeted country for investment in Sub-Saharan Africa. The value of merger and acquisition investments in Sub-Saharan Africa increased by 18% in 2012, even though globally mergers and acquisitions deals decreased by 7%.
Majority of the M & A were in the materials, energy and power sectors. The Royal Bank of Canada and Golddman Sachs made the two largest investments. South Africa was the most active nation in the equity capital markets in 2012.
Tanzania bids to cut call costs – Tanzania Communications Regulatory Authority plans to increase the competition between telecoms operators by cutting the interconnection rates telecoms operators charge each other by 69% in March.
Gambian President Yahya Jammeh has declared Friday a rest day to allow for more prayer, social activities and agriculture. This four-day work week will take effect from 1 February.
Fraud and corruption will always be at the forefront of the minds of those looking to invest in Africa. In this regard, the recently published KPMG Africa fraud Barometer for 2011 reported some telling statistics about reported fraud on the continent. The Barometer was developed “to form a bigger picture of fraud prevalence on the African continent”, incorporating data from available news articles on Africa and other designated databases. The Barometer compares fraud reports from the six months ended June 2011 to the six months ended December 2011.
Many JSE companies are seeing Africa as the new frontier and an important source of long-term growth, especially those companies doing business in mature markets. The International Monetary Fund forecast the region to grow at 5.5% both this year and next. By comparison, South Africa’s economic growth rate is forecast at just 2.7%.
In this episode of the Africa Conversation Series, the panel of industry experts discuss the challenges that infrastructure poses of the progression and economic growth of Africa. The constraints to growth posed by inadequate infrastructure – whether it be road, rail, power, or ICT – is all too familiar. There is persistant talk of need to be physically building Africa. In this episode we hear a discussion on the pace of transformation and the strides that have been take in the area of infrastructure in Africa.