Tag: South Africa

  • Atiku takes campaign to South Africa

    Presidential candidate of the Peoples Democratic Party, (PDP),  Alhaji Atiku Abubakar will be meeting with Nigerians in  South Africa as part of his campaign.

    The Chairman of ‘Atikulated’ South Africa, Funsho Ademoye, made this known in Joanesbong,  South African capital.

    He said Atiku believes in the restructuring and has respect for the rule of law, adding that the PDP flag bearer would share details of his manifesto in his address at South Africa Institute of International Affairs (SAIIA) on November 28 in Johannesburg.

    Ademoye said that the outcome of the meeting held in October with the Peoples Democratic Party South Africa (PDP-SA) and other Diaspora support groups underlined the need to work together and make Nigeria work again.

    At the meeting held in Randburg  the Peoples Democratic Party, South Africa Chairman, Mr. Ekos Akpokabayen, said the need to support for Atiku was based on the fact that he is a seasoned politician, who possesses the needed maturity, patience and wisdom to keep the country united.

    According to Ademoye, the rate of unemployment and poverty in Nigeria is worrisome, adding that this stark reality only goes to show that Nigeria now needs a leader that can salvage the economy and bring it back from the brink of collapse. He said that the Buhari administration had failed Nigerians woefully and that Nigerians deserve a much better deal.

    He said that the state of affairs had become a major source of concern for Nigerians, given the nagtive effects  on the citizens and other African nations.

    Ademoye, had on his recent visit to Nigeria met with the Director-General of the Atiku Campaign Organisation,  Otunba Gbenga Daniel, and other organisations, interest groups and individuals committed to  good governance.

    He also visited the Atiku Campaign Office in Abuja where he had meeting with the Deputy Director Support Groups, Mr. Ola Fabiyi, Dayo Ogunjebe, who also is the House of Representatives PDP candidate representing Mushin Constituency1 and Atikulated ICG Director General, Hon. Fateema Muhammed amongst others.

    Ademoye who is also the Coordinator of Africa Disapora Mobilisation Movement (ADMM), said  the experience of African citisens in Diaspora has awakened their interest in ensuring good governance across Africa.

  • Nigeria, South Africa lead as Africa’s FDIs rise

    Nigeria, South Africa, Morocco, Kenya and Ethiopia accounted for 40 per cent of total foreign direct investments (FDIs) in Africa as foreign investors increased stakes on emerging  economies.

    In its latest report, Africa Attractiveness, Ernst & Young (EY) found that South Africa, Morocco, Kenya, Nigeria and Ethiopia remained the dominant anchor economies within their respective regions and accounted for 40 per cent of the continent’s total FDI projects.

    The EY 2018 report, ‘Turning tides’, provides an analysis of FDI,  into Africa over the past 10 years. The 2017 data showed that Africa attracted 718 FDI projects, up by 6.0 per cent from the previous year. This was in line with a recovery in the continent’s economic growth, following a difficult preceding year.

    The report indicated that Africa attracted 718 FDI projects in 2017, representing an increase of 6.0 per cent on the previous year.

    The four major sub-regions each attract similar FDI when measured by project numbers. For the first time ever, East Africa became the single largest beneficiary of FDI with 197 projects or 27 per cent of total projects. However, Southern Africa fared lowest of the four major regions with 162 projects or 23 per cent of total projects.

    According to the report, Nigeria is leading the growing momentum in West Africa as the region’s FDI project announcements rose by 12 per cent from 2016 levels.

    “In line with its recovery from recession in 2017, Nigeria garnered 25 per cent more FDI projects. According to the World Bank, Nigeria was among 10 economies globally with the strongest improvement in their business environment last year. The country jumped 24 places on the Ease of Doing Business index, thanks to concerted government efforts to tackle red tape, mismanagement and corruption,” the report stated.

    The report noted that United States’ investors were particularly confident about the Nigerian economy in 2017, launching 22 projects during the year as against 10 projects in the previous year. South African, Chinese and United Kingdom investors also increased their FDI activity into Nigeria.

    The report further noted that countries with business-friendly policies, with countries reforming to become more business-friendly, are most successful in outperforming their peers in attracting foreign investment.

    With this, governments will need to increasingly become more focused on policy reform and drive an agenda that stimulates and supports private sector economic activity.

    According to the report, recent initiatives in Ethiopia, as well as gains by Kenya and Nigeria in the World Bank Ease of Doing Business scores, illustrate that more Africa’s leaders are starting to prioritise the need for reform.

    The United States (U.S.) remains the single biggest country investing in Africa, while Western Europe is by far the biggest regional investor. After the US, three of the remaining top five investors are European countries, including the United Kingdom (UK), France and Germany. Of the 10 largest investing countries in Africa, six are from Western Europe.

    The higher project numbers were driven by interest in ‘next generation’ sectors, including manufacturing, infrastructure and power generation. Despite the rise in FDI, project numbers remain below the 10-year average of 784 projects per annum.

    The report also highlighted the countries with the strongest FDI gains, with Ethiopia, Kenya and Zimbabwe experiencing a major uptick in FDI during 2017. By contrast, South Africa, Egypt, Mozambique and Cote d’Ivoire experienced declines in FDI projects in the same year.

    Chief Executive Officer, Ernst & Young (EY) Africa, Ajen Sita, noted that 2017 was in many respects a key year for the continent as it saw multiple changes in leadership across a number of countries, including South Africa, Zimbabwe and Angola.

    He pointed out that changes in leadership have in turn led to a renewed urgency to implement fresh policies as new administrations move to address slow economic growth.

    Sita said there were major opportunities that the continent could benefit from after the recent leadership changes it had witnessed, but such opportunities require emboldened leadership to drive renewed policy reforms and implement new initiatives, which encourage inbound investment flows.

    According to him, there are some outstanding examples of how this emboldened leadership has already worked in some countries, not least Rwanda, which is able to attract FDI well ahead of other economies of similar size, and indeed, ahead of much larger economies.

    “By focusing on improving public sector efficiencies and finances, minimising bureaucratic processes and partnering the private sector on major projects, more countries can stimulate much needed FDI. In addition, they should continue to focus attention on increasing their scores on the ease of doing business and global competitiveness rankings,” Sita said.

  • Screening to Identify Perinatal Depression

    Babies and mothers in the Western Cape of South Africa now have a brighter future, thanks to a provincial government’s decision in September 2018 to start screening the mental health of pregnant women and new mothers during routine checkups.

    Maternal depression and anxiety are estimated to affect roughly one-third of women in South Africa before or after the birth of a child. Routine mental health screening, integrated to primary care, will allow common conditions like these to be picked up and treated early, with benefits for both infants and mothers.

    The screening tool used in the initiative was developed by the Perinatal Mental Health Project (PMHP), led by Dr Simone Honikman, based on research conducted at a midwife obstetric unit in Cape Town.

    A nonprofit entity based at the Department of Psychiatry and Mental Health of the University of Cape Town, the PMHP was launched in 2002 and has been providing counselling services ever since, ensuring screening and support for pregnant women in low income areas dealing with psychological distress.

    “Our screening tool picks up depression and anxiety, and now it is part of the maternal case record. It is brief and simple to use,” Honikman said, describing its adoption by the Western Cape as a victory for mothers and babies.

    The tool consists of a standardised questionnaire, developed by the PMHP team and administered by nurses, midwives or counsellors at the first antenatal visit. The questionnaire is available in the four languages spoken by most of the project’s beneficiaries — English, Afrikaans, isiXhosa and French.

    Infant and child psychiatrist Dr Anusha Lachman, from Stellenbosch University, said the decision to adopt this screening tool was long overdue. “I hope it will be rolled out to the rest of the country,” she added.

    ”Maternal depression in Africa is about three times higher than the international average, which is around 10 percent of pregnant women. The reasons for the high prevalence are clear: people’s socio-economic situations, high levels of intimate violence and substance abuse, and not being able to access support,” said Lachman.

    Support for women’s mental health before and after birth is particularly lacking in underprivileged communities. The PMHP is run by a professional counsellor working at the maternity unit of the Hanover Park Community Health Centre, in Cape Town — an area notorious for gang violence.

    “We see patients whose partners have been killed in gang shootings, who have recently been diagnosed with HIV, who are unemployed, who deal with substance abuse and domestic violence at home, and teenagers whose parents have kicked them out,” said PMHP counsellor Liesl Hermanus.

    Sharmaine Miller, a government health promotion officer who has worked at the maternity unit for 29 years, has taken on the mental health screenings and Hermanus does the counselling. They have developed a positive relationship with the nursing staff.

    “They have really embraced what we do and tell us when they identify vulnerable patients, like a mum who is very tearful in the labour ward,” said Miller..

    Hermanus has worked at the midwife obstetric unit for the last eight years. She usually sees patients in her office, where her energy, organisation and a basket of toys make women feel they are in safe hands.

    “I do lots of listening and psycho-education about bonding, explaining the importance of touch and talking to babies. Later on in a pregnancy, I see patients start feeling better and getting excited about their baby,” she said.

    Since its creation, the PMHP has screened more than 37,000 women, and counselled nearly 7,000 mothers in distress. Miller screens up to 15 pregnant women and new mothers on a daily basis, and teaches them skills such as breastfeeding.

    Practical advice, like how to apply for a child support grant, is also provided to parents, some of whom do not have enough money for the next meal, let alone nappies.

    One of the women helped by the PMHP said she felt so desperate she thought of taking her own life, until her counsellor made her feel safe. “I feel better when I talk to her; she’s always active, taking the positive side,” she said during a consultation.

    Then she addressed her counsellor directly: “I’m here now, I’m fine, because I know I have you on my side. I’m very proud to be a mum.”

    The project also trains nurses and health care professionals from across Africa to respect and care for women before and after childbirth.

    One of its programmes, for instance, teaches patients and health workers to step into one another’s shoes through role play.

    Honikman said that it helped increase empathy and respect between the maternity staff and their patients, which is crucial to screening.

    Cassey Chambers, operations manager for the NGO South African Depression and Anxiety Group, said it was common to get calls from mothers who were overwhelmed months after their babies were born.

    “They are feeling stressed, depressed and anxious. Many feel like they don’t have any support but are too afraid to speak to anyone in case others think they are bad mums or that something is wrong with them,” she said.

    “Everyone assumes that having a baby is the best thing ever, but no one addresses the issue that it is also the most stressful, loneliest and scariest time,” she added, noting that postnatal depression was a serious condition and that new mothers should be encouraged to seek support and treatment.

  • Eagles sure of victory in South Africa – Chukwu

    Christian Chukwu, former Coach of the Super Eagles and former Captain of the Green Eagles, on Tuesday gave the assurance that the Super Eagles of Nigeria would defeat South Africa’s Bafana Bafana in their own home.

    Chukwu told the News Agency of Nigeria that the Eagles had recently proved to be more prepared than South Africa.

    He noted that Nigeria’s victories over Libya in the first and second legs of the African Cup of Nations (AFCON), was a testimony of their preparedness.

    “The Super Eagles must let South Africa know that they are now more prepared than before.

    Read Also: AFCON: Don’t relax over victory, Chukwu tells S/Eagles

    “They must grab their three points from there without any doubt because they are good now,” Chukwu said.

    The former coach urged the Super Eagles to go all out for the three points which he said was imperative for their qualification.

    He observed that the Eagles were not prepared the last time South Africa met them.

    News Agency of Nigeria reports that Nigeria would meet South Africa for their second leg AFCON qualifiers on Nov. 17, in South Africa.

    South Africa had beaten Nigeria 2-0 in Uyo on June 10, last year in their first leg.

  • African Economic Development: IMF tasks countries on performance

    The International Monetary Fund (IMF) has called on Nigeria, South Africa and Angola to ensure solid economic footing to accelerate African economic growth.

    The IMF Chief Economist, Mr Maurice Obstfeld, made this call on Tuesday in Bali, Indonesia at the unveiling of the October 2018 World Economic Outlook, a publication of the IMF.

    He observed that their proper footing would check impediment of the growth of the African economy.

    According to IMF, Nigeria, South Africa and Angola, the three largest economies in the continent are impeding the growth of African economy.

    Read Also:IMF to release World Economic Outlook

    He said that the aggregate growth rate for the continent was held down by the fact that the three largest economies were not performing up to their potentials.

    According to IMF, Nigeria, South Africa and Angola, the three largest economies in the continent are impeding the growth of African economy.

    “Nigeria’s growth is at 1.9 per cent this year to 2.3 per cent next year and South Africa with 0.8 per cent this year, Angola contracting by 0.1 per cent this year.

    “So the aggregate is over three per cent this year and close to four per cent next year and this is in spite of the fact that the largest economies in the continent are doing poorly.”

    Obtsfeld, however, said the continent could do much better once the countries got solid economic footing, particularly South Africa and Nigeria.

    “This is because they are really large countries and their economic activities will always have effect on their neighboring countries,’’ he said.

    According to the report, Africa’s growth performance varies according to countries, while about half of the expected pickup in growth between 2017 and 2018 reflects the growth rebound in Nigeria.

    “Nigeria’s growth is projected to increase from 0.8 per cent in 2017 to 1.9 per cent in 2018 and 2.3 per cent in 2019 (0.4 percentage point higher than in the April 2018 WEO for 2019).

    “This is buoyed by the impact of recovering oil production and prices,” the report indicated.

    It also said that inflation pressures in sub-Saharan Africa had broadly softened, with annual inflation projected to drop to 8.6 per cent in 2018 and 8.5 per cent in 2019, from 11 per cent in 2017.

    “For Nigeria, inflation is projected to fall to 12.4 per cent in 2018, from 16.5 per cent in 2017 and to rise to 13.5 per cent in 2019.

    The report said that global growth was projected at 3.7 per cent for 2018-19, which is 0.2 percentage point lower for both years than was forecast in April.

    “In United States, momentum is still strong as fiscal stimulus continues to increase.

    “However, the forecast for 2019 has been revised down due to recently announced trade measures, including the tariffs imposed on 200 billion dollars of US imports from China.”

    The IMF, however, advised countries to foster cooperation and work together to tackle challenges that extend beyond their borders.

    It said cooperative efforts were also essential to complete the financial regulatory reform agenda, strengthen international taxation, enhance cyber security and tackle corruption.

    It said that to strengthen the potential for higher and more inclusive growth, all countries should grasp the opportunity to adopt structural reforms and policies that raised productivity and ensure broad based gains.

    The IMF also advised that low-income developing countries should improve on their convergence prospects.

    It explained that continued progress towards the 2030 United Nations Sustainable Development Goals (SDGs) was imperative to foster greater economic security and better living standards for a rising share of the world’s population.

    “Given their generally high levels of public indebtedness, low-income developing countries need to make decisive progress to strengthen their fiscal positions while prioritising well-targeted measures to reduce poverty.

    “They must also boost the resilience of their financial systems,” it said.

  • MTN shares up 2% on possibility of reduced repatriation

    South Africa’s MTN Group shares rose as much as 2.55 per cent after the Nigerian central bank said it might reduce the $8.1 billion it had ordered the telecoms firm to repatriate to Nigeria.

    At the Johannesburg Stock Exchange on Monday, MTN shares were up 2.03 per cent to 85.50 rand as early as 0837 GMT, due to the possibility of reducing the repatriation demand by MTN.

    Read Also:$8.1b: CBN raises MTN’s hope

    MTN and the central bank are in a dispute over the transfer of $8.1 billion of funds which the bank said the company had sent abroad in breach of foreign-exchange regulations.

    Godwin Emefiele said on Sunday the CBN may reduce the amount it had ordered MTN Nigeria to repatriate.

    Emefiele said, while addressing reporters in London that new documents provided by the telecom company would help to reduce the size of the claim.

    “I don’t think it will be staying at $8.1bn.

    “I want to believe that the figure will reduce. Whether it will be dropped completely, I honestly cannot say at this time,” he added.

    Emefiele said the central bank had received documents about two weeks ago from MTN and four lenders involved in the case.

    The lenders are Standard Chartered, Stanbic IBTC Bank, Citibank and Diamond Bank, adding that the apex bank was in communication with all parties involved.

    “The central bank will be examining these; then it will be escalated up to my level,” he said, adding that he expected to get the results in a couple of weeks,” he said.

  • Shun violence, Ohaneze advises Igbos in South Africa

    Chief Nnia Nwodo, President, Ohaneze Ndigbo worldwide, a pan-Igbo socio-cultural organisation, has urged Igbos living in South Africa to eschew violence and resolve their differences amicably.

    Nwodo gave the advice at the annual Igbo Day and New Yam Festival (Iriji Ndi Igbo) in Johannesburg on Sunday.

    The Secretary of Ohaneze Ndigbo, South Africa chapter, Mr Emeka Ezinteje, said that Nwodo was represented by Chief Julius Osakwe, the chapter’s President at the event.

    Read Also:Ohaneze warns PDP against denying South-East VP ticket

    “There is no need to resort to violence in settling disputes among yourselves and your hosts since there are other civilised avenues to do so,’’ Ezinteje said in a statement

    Nwodo condemned the violent deaths of some Igbos in South Africa, saying that the apex body of Ohaneze was not happy with the trend.

    He urged them to live peacefully as brothers and sisters and work for the progress of Ndigbo always.

    Ezinteje used the occasion to call for synergy between pro-Biafran activists and Ohaneze leadership to make Igbos speak with one voice on matters of national interest.

    Mr Godwin Adama, Nigeria`s Consul General in South Africa attended the event, while Eze Jonas Udeji, Traditional Prime Minister of Igbos in South Africa performed necessary traditional rites/rituals in the absence of Eze Igbo in South Africa.

    Ohanaeze Ndigbo is an apex Igbo socio-cultural group in Nigeria founded in 1976. The group represents all Igbo communities within and outside Nigeria.

    Igbos by census, represent one of the three largest ethnic groups in Nigeria.

    Although the group is not a political party, part of its objectives of creation is to foster unity among its members in order to better allow them to be representative within the political scenario of Nigeria.

  • South Africa’s rand weakens after World Bank cuts growth forecast

    South Africa’s rand retreated early after the World Bank cut its economic growth forecast and took a dim view of President Cyril Ramaphosa’s stimulus plan.

    The rand was 0.29 percent weaker at 14.6875 per dollar at 0650 GMT, having closed in New York at 14.6450.

    The currency is expected to trade between 14.4500 and 14.8500 to the dollar, NKC African Economics wrote in a note.

    The World Bank cut South Africa’s economic growth forecast for 2018 to 1 percent from an earlier forecast of 1.4 percent.

    Investors remain skittish on the rand following the announcement on September 21 of a stimulus programme that will see a reallocation of the budget but does not involve an injection of new cash.

    In fixed income, the yield on the benchmark government bond due in 2026 flat at 9.090 percent.

    Stocks are due open weaker at 0700 GMT, with the JSE securities exchange’s Top-40 futures index down 1.26 percent.

    Mining firms say Zambia’s tax hike plan would ruin economy

    Zambia’s proposed mining tax increases would hobble Africa’s second biggest copper industry, companies said, a further warning to investors already concerned about the country’s mounting debt.

    Several mines would become unprofitable if the tax plans were implemented with overall copper production likely to fall, Zambia Chamber of Mines President Nathan Chishimba said.

    “More tax regime instability, massive increases, and novel taxes not seen anywhere else in the world, will hurt the mining industry and all those who rely on its success,” Chishimba said in a statement.

    “As industry production shrinks through the impact, there will be less jobs, less taxes and as a result there will be less in the government’s bank account for many years to come.”

    Some companies have already scrapped expansion plans since Zambia announced new mining duties and an increase in royalties to help bring down mounting debt, Chishimba said.

    Zambia argues that its mainstay copper industry unfairly benefits foreign companies like First Quantum, Glencore and Vedanta Resources, while millions of its citizens suffer without basic services.

    Chishimba said attracting investment was the only way to boost growth and increase government revenue. Mining accounts for more than 70 percent of Zambia’s foreign exchange earnings.

    Concerns about Zambia’s rising debt, alongside accusations of additional hidden borrowing and government corruption, have spooked investors and Western donors in recent months.

  • Saudis seek deals with South African arms firms

    Saudi Arabia is in talks with South Africa’s major arms manufacturers and is considering taking an equity stake in the struggling state-owned defence firm Denel, the head of the Saudi state defence company told Reuters.

    Saudi Arabian Military Industries’ (SAMI) chief executive Andreas Schwer said he expected to conclude the first partnership deals with South African companies by the end of the year, though he would not identify those initial partners.

    South Africa’s Department of Public Enterprises, which oversees Denel, acknowledged the talks with SAMI but said it was too early to give details of any potential partnership arrangement.

    The Paramount Group, a privately held South African company, has already said it is in talks with Saudi authorities.

    “To make it clear, we are in discussions with all major South African companies, not only Paramount, not only Denel,” Schwer said in a telephone interview.

    South Africa’s defence industry once played a major role in the country’s economy, but more recently it has suffered from the impact of a squeeze on defence spending globally and a weak home market.

    Saudi Arabia is the world’s third largest defence spender behind the United States and China with an estimated military budget last year of nearly $70 billion.

    Since 2015, the Gulf state has been fighting a war against the armed Houthi movement in Yemen in support of the internationally recognised government there.

    With little local manufacturing capacity, however, it has long been forced to import the bulk of its military hardware.

    The Saudi government is now seeking to develop its own domestic defence industry with the goal of localising half of its military spending by 2030. Schwer said SAMI aimed to have all its foreign partnerships in place by the end of next year.

    “We are in discussions with the South African government in order to identify opportunities to set up strategic partnerships which could include an equity investment from our side into Denel. It’s not decided yet, but it’s one option,” Schwer said.

    Over 60 percent of Denel’s revenues come from exports. But the company has been grappling with a liquidity crunch after becoming embroiled in corruption scandals during the presidency of Jacob Zuma.

    “We hope to get access to their technology. They have to commit to transfer their technology to Saudi Arabia and to build up together with us local capabilities, not only manufacturing but also engineering,” Schwer said.

    He said those same conditions would apply to all of SAMI’s partners, and in return Saudi Arabia would offer preferred or exclusive market access to companies.

    Denel did not pay senior staff their salaries in full this month. Labour unions say it is critical that Denel receives financial support – either via additional government guarantees or a capital injection.

    A Denel spokeswoman said she was not aware of the discussions with SAMI and the Saudi government.

    “Denel would welcome any country that looks at South Africa for procurement of defence material,” the spokeswoman Vuyelwa Qinga, wrote in an emailed response to Reuters’ questions.

    President Cyril Ramaphosa visited Saudi Arabia in July and subsequently announced that the Saudi government pledged to invest at least $10 billion in South Africa.

  • Fighting corruption in Nigeria non-negotiable, Buhari tells Mbeki

    President Muhammadu Buhari on Thursday told the former South African President, Thabo Mbeki, that for his administration, fighting corruption is non-negotiable.

    Buhari said that fighting corruption is a must.

    Mbeki, who heads the African Union High Level Panel on Illicit Flows from Africa, was at the Villa to give the President, who is the current Champion of AU Anti-Corruption Campaign, critical updates.

    In a statement by the Special Adviser on Media and publicity, Femi Adesina, the President said “We must fight corruption frontally, because it’s one of the reasons we got elected.

    “We campaigned on three fundamental issues; security, reviving the economy, and fight against corruption. It’s the reason we got elected, and we can’t afford to let our people down.”

    Read Also: Buhari, Mbeki meet in Aso Rock

    Noting that the government was making progress on the anti-corruption war, “and not just talking,” the President said he was very pleased with the assignment the former South African President was carrying out for the African continent.

    He said that when Africa is vigorous with the war against corruption, “we will eventually appeal to the conscience of the rest of the world.”

    In his remarks, former President Mbeki said corruption was an African challenge that must be responded to, “as development challenges can only be met through the check of illicit financial flows.”

    He said he was delighted that President Buhari touches on the issue in most of his speeches, with the most recent being at the United Nations General Assembly last week.

    “We are pleased with the way you take up the matter. Countries need political will to stop the illicit flow. Nigeria has shown good example. The more we are showing that we are acting as Africans, the easier to get the rest of the world to cooperate,” Mbeki said.