Category: ttzkitiu

January 19, 2020 | | Post a Comment

first_imgPhoto by Tristan Tamayo/ INQUIRER.netWendell McKines aired his grievances on his Twitter account after San Miguel decided to go the other way and replace him as its import in the ongoing 2017 PBA Governors’ Cup.McKines also expressed his regret not being able to play more games alongside June Mar Fajardo and not finishing his job with the team.ADVERTISEMENT Police seize P68-M worth of ‘shabu’ in Pasay Bishop Baylon encourages faithful in Albay to help Taal evacuees Don’t miss out on the latest news and information. Filipinos turn Taal Volcano ash, plastic trash into bricks PLAY LIST 01:40Filipinos turn Taal Volcano ash, plastic trash into bricks01:32Taal Volcano watch: Island fissures steaming, lake water receding02:14Carpio hits red carpet treatment for China Coast Guard02:56NCRPO pledges to donate P3.5 million to victims of Taal eruption00:56Heavy rain brings some relief in Australia02:37Calm moments allow Taal folks some respite Marcosian mode: Duterte threatens to arrest water execs ‘one night’ LATEST STORIES I wish I would have played more than 1 full game with Junemar. I wish the players the best and hope they go get that grand slam.— Wendell Mckines (@Mr_WensdayFC) September 2, 2017FEATURED STORIESSPORTSEnd of his agony? SC rules in favor of Espinosa, orders promoter heirs to pay boxing legendSPORTSRedemption is sweet for Ginebra, Scottie ThompsonSPORTSMayweather beats Pacquiao, Canelo for ‘Fighter of the Decade’ Britain’s Prince Harry and Meghan Markle to give up royal titles MOST READ The Beermen replaced McKines with Terik Bridgeman, who underwhelmed in his debut on Saturday, netting only two points on 1-of-4 shooting with six turnovers in the Beermen’s 90-79 defeat to Alaska.The loss sent San Miguel to only its second back-to-back losses this season.Sports Related Videospowered by AdSparcRead Next Hotdog’s Dennis Garcia dies US Open glance: Muguruza vs. Kvitova highlights 4th round OSG plea to revoke ABS-CBN franchise ‘a duplicitous move’ – Lacson Britain’s Prince Harry and Meghan Markle to give up royal titles The 29-year-old forward averaged 26.2 points, 14.2 rebounds, 4.4 assists, 1.4 blocks, and 1.2 steals in five games this conference but San Miguel went just 3-2 during that stretch. National Historical team rescues Amorsolos, artifacts from Taal Search on for 5 Indonesians snatched anew in Lahad Datu View commentslast_img read more

January 19, 2020 | | Post a Comment

first_imgDon’t miss out on the latest news and information. The Blue Eagles rallied past University of the Philippines, 96-82, on the day when the Bulldogs saved their season with a stunning come-from-behind 87-84 victory over Far Eastern U.JJay Alejandro accounted for half of the points in a 22-2 run that erased a 15-point deficit for the Bulldogs, who survived the Tamaraws’ torrid outside shooting for only their fifth win of the season.FEATURED STORIESSPORTSRedemption is sweet for Ginebra, Scottie ThompsonSPORTSMayweather beats Pacquiao, Canelo for ‘Fighter of the Decade’SPORTSFederer blasts lack of communication on Australian Open smog“This is the dream,” said an emotional NU coach Jamike Jarin. “This is what I was expecting from our players. I hope it’s not too late, I hope it’s not too late. We never bowed down. I’m happy right now because I saw the maturity from the players.”The loss was a huge blow for the Tamaraws, who nailed a league record 18 three-point shots. Coco’s house rules on ‘Probinsyano’ set OSG plea to revoke ABS-CBN franchise ‘a duplicitous move’ – Lacson MOST READ Carpio hits red carpet treatment for China Coast Guard PLAY LIST 02:14Carpio hits red carpet treatment for China Coast Guard02:56NCRPO pledges to donate P3.5 million to victims of Taal eruption00:56Heavy rain brings some relief in Australia02:37Calm moments allow Taal folks some respite03:23Negosyo sa Tagaytay City, bagsak sa pag-aalboroto ng Bulkang Taal01:13Christian Standhardinger wins PBA Best Player award Hitting eight of their first 16 shots from beyond the arc, the Maroons seemed poised for an upset and even led by 12 in the third period, before the Eagles clawed their way back into the contest.With the Tamaraws falling to the Bulldogs in the first game, the last Final Four berth remained up for grabs with FEU, NU and UP all in contention as they play their last elimination round games on Saturday.Unable to sustain their hot start, the Tamaraws dropped to 6-7, while NU improved to 5-8 to tie UP.Sports Related Videospowered by AdSparcRead Next Jake says relationship with Shaina ‘goes beyond physical attraction’ Jo Koy: My brain always wants to think funny Batang Pinoy faces possible cancellation Margot Robbie talks about filming ‘Bombshell’s’ disturbing sexual harassment scene Jake says relationship with Shaina ‘goes beyond physical attraction’ Using another late uprising, Ateneo stayed in the hunt for an elimination round season sweep and an outright finals berth on Wednesday, while National U grabbed a lifeline in its playoff push in UAAP Season 80 at Smart Araneta Coliseum.ADVERTISEMENT View comments It’s too early to present Duterte’s ‘legacy’ – Lacson Kiss-and-tell matinee idol’s conquests: True stories or tall tales? Redemption is sweet for Ginebra, Scottie Thompson LATEST STORIES Later in the day, Matt Nieto fired 19 points, while Isaac Go hit 13 points, including a pair of triples in the final period, as the Eagles completed a 26-point turnaround in the second half for their 13th straight victory.The Eagles’ focus now shifts to their highly anticipated duel with La Salle, which is hoping to deny Ateneo an automatic finals spot when they collide in the final playdate of the elimination round on Sunday.“It was like a playoff, a Final Four game already, so I think we will expect that also [going] into our next game,” said Ateneo assistant coach Sandy Arespacochaga.“There was certainly a lot of fight in UP in this game, they showed their heart, they came up with a lot of intensity from the very start. But toward the end of the third and the fourth quarter, our players showed a lot of character.”Playing with urgency after their Final Four hopes got a boost with FEU’s loss, the Maroons had the Eagles on the ropes for three quarters with their hot shooting, before Nieto and Go found their groove, combining for 14 points in the final frame.ADVERTISEMENTlast_img read more

January 17, 2020 | | Post a Comment

first_imgThe male-to-female cross-dressing case was on Wednesday adjourned to October when it was brought before Justice Carl Singh at the Court of Appeal.The case filed by the Guyana Trans United (GTU) with support from the Society Against Sexual Orientation Discrimination (SASOD) and the University of the West Indies Faculties of Law Rights Advocacy Project (U-RAP) sought to strike down laws which left transgenders open to arrest because of cross-dressing.Gulliver McEwan, representatives of SASOD and GTU, first filed the case after then Chief Justice Ian Chang ruled that cross-dressing by men is not a crime as long as they did not do so for an improper purpose.After the ruling, cross-dressers believed that it did not prevent them from being harassed and arrested by police. As such they moved to the Court of Appeal to have Chang’s ruling overturned.However, when the matter was called, the appellants filed their arguments but were told that the State is yet to file theirs.The Appeal Court noted that the arguments filed by counsel for the appellants were extensive and that it wished some time to fully review them and to receive the arguments from the State.During the hearing, justice Singh questioned the validity of SASOD being on the rubric of the appeal, since the organisation was struck out as a party at first instance.However, in response, representing attorney Nigel Hughes stated that the documents would be amended but added that a formal application would be made for SASOD to be joined in the appeal.Commenting on the ruling, McEwen stressed that excluding civil society organisations (CSOs) such as SASOD and GTU would inhibit marginalised persons from being able to access justice.“If civil society groups are not included in the case, then how can we as a community be represented in something that affects us all? This case does not just affect the four individual litigants, it affects us all.”Managing director of SASOD Joel Simpson posited that Caribbean courts have taken a very restrictive approach to the standing of organisations, which he finds untenable.He added that it is particularly important for advancing human rights in Guyana, where individuals are often stigmatised, re-victimised and face amplified risks to their safety and security when challenging the state to respect the rights of a minority group.last_img read more

January 12, 2020 | | Post a Comment

first_imgFifty-eight-year-old Michael Boodhoo, a miner of Lot 925 Covent Garden, East Bank Demerara, appeared on Monday before Georgetown Magistrate Judy Latchman on a charge of fraud, which detailed that he had written a cheque for over $800,000, knowing that he was not in receipt of that sum.It is alleged that with intent to defraud, Boodhoo, on December 11, 2016, at Georgetown, uttered to Latchmie Singh one forged Republic Bank cheque, #7406, valued at $844,000.On the same day and at the same location, Boodhoo obtained from Singh arch panel doors and arch windows by way of the said cheque valued at $844,000, knowing same to be forged.On December 9, 2016, Boodhoo ordered the items from Latchmie Singh’s place of business, and on December 11, 2016, his order was delivered by Latchmie Singh.However, when Singh visited Republic Bank on the same day to cash the cheque, it was revealed that the sum was not available in the defendant’s account.The matter was reported to the Police and Boodhoo was recently arrested and charged. He denied that he had defrauded Singh, and has been placed on $400,000 bail. He is expected to make his next court appearance on June 28.last_img read more

January 12, 2020 | | Post a Comment

first_imgCacique Accounting College, in collaboration with the Cancer Institute of Guyana, held its cancer awareness fair themed “Pink Out Saturday” over the weekend. The students and staff of Cacique Accounting College benefited from cancer sensitisation. Demonstrations were done to teach students how to perform self-breast examinations. The students were also educated on making healthy lifestyleStudents and staff of the Cacique Accounting College pose for a photo moment during their “Pink Out Saturday”changes, and free pap smear examinations were performed by members of the Cancer Institute of Guyana, Fiona Legall and her team.Legall noted that she was quite impressed with the turnout and she was also happy to be given the chance to make young people more aware of the signs, symptoms and risk factors associated with breast and cervical cancer.Cacique Accounting College Director Fazal Bacchus said he recognised the importance of raising awareness on breast cancer and also all other types of cancer and saw it fit to bring that awareness to the students.In recognition of the work by the Cancer Institute, Cacique Accounting College made a monetary donation to the body and remained committed to a continuous partnership with the Institute in the fight against cancer.last_img read more

January 11, 2020 | | Post a Comment

first_img“This crew, in particular, has always been an ardent supporter of education. A science center would certainly be a fitting tribute to their legacy,” said Dr. Jon Clark, an ex-NASA flight surgeon and widower of astronaut Laurel Blair Salton Clark. A ceremonial groundbreaking for the Columbia Memorial Space Science & Learning Center was scheduled for today. The site for the $12 million center, paid for by NASA and the city, was chosen by a congressional resolution in 2004. It’s expected to open in summer 2008. Design plans reveal a futuristic-looking, two-story building nestled in a 13-acre park on the former site that has since been redeveloped into a shopping center, movie studio and medical complex. The facade will be made of steel, glass and aluminum to invoke the feeling of openness. “The goal is to give the impression of space and the space shuttle,” said Alex Guerrero, executive vice president of Tower General Contractors, which is building the science center. Interactive exhibits are planned including a simulated space mission and a Mars robotic lab. DOWNEY – For decades, engineers worked behind the gates of a sprawling plant in this blue-collar city, designing and building parts for America’s space program, including the shuttle Columbia. The 160-acre complex closed in 1999 and with it, the city’s reputation as an aerospace hub. Now the city is reclaiming its aerospace past by converting part of the site into a memorial and the first education center dedicated to the 2003 Columbia disaster that killed seven astronauts. The Columbia families say it’s appropriate because the astronauts spent 16 days in orbit conducting science experiments. Shuttle flights since have focused on finishing construction of the international space station. Columbia broke apart during re-entry on Feb. 1, 2003, raining debris over Texas and Louisiana. Investigators determined its left wing was gashed by fuel-tank foam insulation during liftoff, allowing fiery gases to penetrate the shuttle. The Downey complex opened in 1929 and was primarily involved in aircraft manufacturing and missile design. During the space race, it played a key role in development of the Apollo program and later, the space shuttle fleet.160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set!last_img read more

December 25, 2019 | | Post a Comment

first_img AD Quality Auto 360p 720p 1080p Top articles1/5READ MORERose Parade grand marshal Rita Moreno talks New Year’s Day outfit and ‘West Side Story’ remake Hunter made the concession after a meeting of House and Senate negotiators on the defense bill on which Senate Armed Services Committee Chairman John Warner, R-Va., and top Democrat Carl Levin, D-Mich., told him the Santa Rosa idea would run into procedural objections under Senate rules that could stall the entire bill. “What this language does is subject this bill to a point of order in the Senate and the whole bill goes down,” Levin said. After the meeting, Hunter agreed to drop the language, House and Senate officials said. Hunter’s spokesman had no immediate comment. Santa Rosa Island is the second-largest of the five islands that make up Channel Islands National Park. 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! WASHINGTON – The chairman of the House Armed Services Committee abandoned a plan to give the military recreational use of 53,000-acre Santa Rosa Island after senators warned him Friday that the provision could trip up a major defense bill. Rep. Duncan Hunter, R-Calif., instead agreed to a deal offered by House Democrats to pursue the idea as stand-alone legislation after Congress reconvenes next year. His agreement cleared a final glitch for House and Senate negotiators putting the finishing touches on a defense policy bill lawmakers want to use to ban cruel, inhuman and degrading treatment of terrorism detainees in U.S. custody. Hunter wanted to turn Santa Rosa Island, 40 miles off the coast of Santa Barbara County, into a recreation destination for disabled veterans and others. His proposal would have allowed hunting of nonnative elk and deer on the island to continue indefinitely, even though a court-ordered settlement calls for it to end in 2011. Environmentalist say the animals are harming the island’s natural environment and native species, and also were concerned Hunter’s plan would have amounted to putting the island under military control and keeping the public out. last_img read more

December 24, 2019 | | Post a Comment

first_imgThe rugby legends are on the road to Donegal.A host of Irish rugby legends will be among 200 cyclists who ride into Letterkenny this evening (Thurs).The players include the Wallace Brothers as well as Paddy Johns, Mick Galwey, Phil Kearns, Simon Best & John Smit of South Africa to name a few.Fans can get chance to meet the players when they arrive at Letetrkenny Rugby Club at 6pm. Food and Drink supplied by Chef Martin Anderson.€20 – Book now or great Burgers & Soft Drink just €5 – loads of fun, chance to get a few autographs and some photos with the Legends of yesteryear.There will also be a Pub Quiz in DownTown Bar/VooDoo at 10.00 pm.We had a great night last year and this one promises to be even better.Cycle in the event or in a stage and get all the Official Kit Tomorrow, Friday Sep 11th, will see the 200 cyclists go to Malin to finish their trip in sunshine. IRISH RUGBY LEGENDS TO RIDE INTO DONEGAL THIS EVENING! was last modified: September 11th, 2014 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:LETTERKENNY RUGBY CLUBRugby Legendslast_img read more

December 22, 2019 | | Post a Comment

first_img Tags: Archbishop John Baptist OdamaArchdiocese of MbararatopUganda Episcopal Conference The AMDA Football Team at a previous game (COURTESY PHOTO)KAMPALA – The archdiocese of Gulu will this weekend play friendly football, netball and volleyball games with the Archdiocese of Mbarara, represented by their Kampala association (AMDA) in games intended to raise awareness for preparations for the Uganda Martyrs Day Celebrations 2019.Archbishop John Baptist Odama of Gulu will be the Chief Guest at the games that will be played at the Uganda Institute of Communication Technology (UICT) playground Nakawa, (Post Office Nakawa) on Saturday, February 23 starting at 2p.m.Archbishop Odama will thereafter on Sunday February 24, preside over Mass for the two groups at Kitante Primary School, in Kampala, starting at 10 am.The archdiocese of Gulu has been selected by the Uganda Episcopal Conference to lead the 2019 Uganda Martyrs Day celebrations, with Archbishop Odama set to be the main celebrant.According to Archdiocese of Mbarara Development Association (AMDA) Chairman Dr. Gaston Ampe, the friendly games between the two sister archdioceses is a great initiative that will foster unity in diversity brought through the intercession of the Uganda Martyrs.“We thank our brothers and sisters from Gulu for this initiative and pledge to work with them for the success of the 2019 Martyrs Day celebrations this year,” Dr. Ampe said.AMDA Chaplain Rev. Fr. Darius Magunda said:“Of all the communities and groups in Kampala, that Gulu Archdiocese under the leadership of Archbishop Odama chose our AMDA community, is a sign of the love they have for us and the solidarity existing between the archdiocese of Gulu and that of Mbarara. We hereby reciprocate that gesture and pledge our solidarity and support. We shall render support where we can in the preparations for the 2019 Uganda Martyrs celebrations at Namugongo, animated by Gulu Archdiocese”.The AMDA netball team in action (COURTESY PHOTO)Archbishop Odama said:“I thank all the members of Archdiocese of Mbarara Development Association (AMDA) for inviting me and my faithful of the Archdiocese of Gulu to share with you these two days in the context of celebrating the Uganda Martyrs Day 2019. Through your Chaplain, Fr. Darius Magunda, I thank my Brother Archbishop Paul K. Bakyenga for welcoming us and making this historic visit possible”.Archbishop Odama said the theme of this year’s celebrations will be, “Obey God Always and Everywhere (based on Acts.4:19), as a rallying call to all pilgrims who annually come to honor the Uganda Martyrs and indeed all mankind, to come back to God and be loyal to Him.“The pilgrimage to Namugongo is a celebration of the renewal of our faith, hope and love in God. This demands that we become conscious of the consistent presence of God among His people,” he said.Archbishop Odama called on their faithful to support preparations for Uganda Martyrs Day 2019.“I call upon all of us to use our resources to support the celebrations honoring the Uganda Martyrs in obedience to God. We thank all those who have come up to support this cause of celebrating the victory of God in the lives of the martyrs which rallies millions of people to God.We thank the people of the Archdiocese of Mbarara for this spontaneous initiative to come to play and pray together with our faithful. This is also a clear sign of and concrete expression our communality as a Church”, he said.Comments last_img read more

December 18, 2019 | | Post a Comment

first_imgAbundant resources, an advanced industrial sector, robust financial systems, a progressive legal framework – and the gateway to other African markets.The country remains rich with promise. (Image: Brand South Africa)Brand South African reporterWhile much of the world staggered in the wake of the global financial meltdown towards the end of the first decade of the new millennium, South Africa managed to stay on its feet – largely as a result of its prudent fiscal and monetary policies.The country is politically stable and has a well capitalised banking system, abundant natural resources, well developed regulatory systems as well as research and development capabilities, and an established manufacturing base.Ranked by the World Bank as an “upper middle-income country’, South Africa is the largest economy in Africa. In 2014, the World Bank listed its GDP at $350.1-billion (R5.416-trillion) and its population at 54 million. Per capita GDP is $6 483, according to the World Economic Forum.The country remains rich with promise. It was admitted to the BRIC group of countries of Brazil, Russia, India and China (now known as BRICS) in 2011.With a world-class and progressive legal framework, South African legislation governing commerce, labour and maritime issues is particularly strong, and laws on competition policy, copyright, patents, trademarks and disputes conform to international norms and standards. The country’s modern infrastructure supports the efficient distribution of goods throughout the southern African region.The economy has a marked duality, with a sophisticated financial and industrial economy having grown alongside an underdeveloped informal economy. It is this “second economy’ which presents both potential and a developmental challenge.Positive outlookIn its 2015-2016 Global Competitiveness Report, the World Economic Forum ranked South Africa 49th in its Global Competitiveness Index out of 140 economies, up from 56th in the previous reporting period. It ranked the country first for strength of auditing and reporting standards as well as financing through local equity market. South Africa was also ranked 12th for financial market development; it ranked 29th for market size, 33rd for business sophistication and 38th for innovation, out of 140.In its 2014-15 Global Competitiveness Report, the World Economic Forum ranked South Africa second in the world for the accountability of its private institutions, and third for its financial market development, “indicating high confidence in South Africa’s financial markets at a time when trust is returning only slowly in many other parts of the world’. The country’s securities exchange, the JSE, is ranked among the top 20 in the world in terms of size.Diversity and growthSouth Africa’s success in reforming its economic policies is probably best reflected by its GDP figures, which reflected an unprecedented 62 quarters of uninterrupted economic growth between 1993 and 2007, when GDP rose by 5.1%. With South Africa’s increased integration into the global market, there was no escaping the impact of the 2008-09 global economic crisis, however, and GDP contracted to 3.1%.The World Bank reports that while the economy continues to grow – driven largely by domestic consumption – growth is at a slower rate than previously forecast. Real GDP growth is estimated at 2.0% for 2015 and the same for 2016 “due to a combination of domestic constrains and external headwinds arising from the fall in commodity prices and slowdown of the Chinese economy”.But the bank predicts a slight recovery in 2017 with real GDP growth estimated at 2.4% as new electricity supply comes on line.According to figures from the National Treasury, total government aggregate spending will reach R1.56- trillion in 2017/18. This represents more than a doubling in expenditure since 2002/3 in real terms.To ensure that there is a similar improvement in service-delivery outcomes, the government is putting in measures to strengthen the efficiency of public spending and to root out corruption.It is allocating resources to South Africa’s core social and economic priorities while containing aggregate expenditure growth. Spending plans give effect to the priorities of the National Development Plan and the medium-term strategic framework. Spending on infrastructure investment and core social programmes has been protected.Under its inflation-targeting policy, implemented by the South African Reserve Bank, prices have been fairly steady. In November 2015, the annual consumer inflation rate was 4.8%, rising from October’s 4.7%. However, this was down from an annual average in 2014 of 6.1%. Stable and low inflation protects living standards, especially of working families and low- income households.South Africa has a diverse economy, with key sectors roughly contributing to GDP* as follows:Agriculture: 2.2%Mining: 10%Manufacturing: 13.3%Electricity and water: 2.6%Construction: 3.9%Wholesale, retail and motor trade, catering and accommodation: 14.6%Transport, storage and communication: 9%Finance, real estate and business services: 20.7%Government services: 17.6%Personal services: 5.9%* Note: Percentages based on third quarter 2015 GDP data from Statistics SA. The country’s outlook is affected both by national concerns, such as unrest in and pressure on the mining industry, as well as international sluggishness, with Europe as one of South Africa’s chief export destinations.However, trade and industrial policies encourage local firms to explore new areas of growth based on improved competitiveness. China, India and Brazil offer significant opportunities. Infrastructure, mining, finance and retail developments across Africa are helping to fuel a growth trajectory in which South Africa can participate.ChallengesSouth Africa’s economy grew by a marginal 0.7% in the third quarter of 2015, according to preliminary estimates of real gross domestic product (GDP) released by Statistics SA in November of the year, following a 1,3% contraction in the second quarter.Three of the 10 main industry groups shrunk in size: agriculture, mining, and electricity, gas and water supply. Manufacturing has posted an uptick in growth. Agriculture, mining and manufacturing, traditionally labour intensive sectors that employ unskilled workers now account for 19% of total employment, down from about 30% in 2000; the services sector now accounts for 72% of total employment.As the National Treasury is at pains to point out, development is not just the pursuit of growth – it is also about creating a more equitable future. The South African government is determined to address its key challenges through the economic integration of its previously disadvantaged majority.Unemployment, at a rate of 25% (compared to an average of 11% for upper middle income countries, according to the World Bank), remains the most challenging of South Africa’s hurdles: it is at the top of government priorities and at the heart of its economic policies.The New Growth Path, launched in November 2010, builds on plans to restructure the economy to ensure more inclusive and sustainable growth – and sets a target of creating five million new jobs by 2020. The road map to do this is provided by the Industrial Policy Action Plan, which proposes multisectoral interventions across agriculture, mining, manufacturing, tourism and other high-level services to create substantial employment.South Africa’s dream of growing an inclusive economy by drawing on the energies of its people is given voice through the National Development Plan 2030, launched in August 2012.The plan outlines two main strategic goals: to double GDP by 2030 and eliminate poverty, and to reduce inequality, as measured by the income Gini coefficient, from 0.70 to 0.60 by 2030 through expanding economic opportunity for all by:Investing in and improving infrastructure, as well as supporting industries such as mining and agriculture;Diversifying exports;Strengthening links to faster-growing economies;Enacting reforms to lower the cost of doing business;Reducing constraints to growth in various sectors;Moving to more efficient and climate-friendly production systems; andEncouraging entrepreneurship and innovation.View the National Development PlanRead more: “Jobs at heart of SA’s development plan’ and “South Africa’s plan for a better future’Since 1994, South Africa’s working-age population aged 15 to 64, has grown by 11 million, according to the World Bank. The age group comprises 65% of the country’s total population of 54.9 million in 2015. More than half of the working-age population is under the age of 25, and the sector is expected to grow by another nine million in the next 50 years.This is a “window of demographic opportunity” the bank says in its report, South Africa Economic Update: Focus on Jobs and South Africa’s Changing Demographics. The country could double its per capita income and eliminate extreme poverty by 2030 by generating jobs for its high and growing number of young workers.Green economyOne of the most important elements of the New Growth Path is a green economy, and the potential the creation of a lower-carbon economy has as a job generator as well as a spur for industrial development.President Jacob Zuma has committed South Africa to slowing its growth in greenhouse gas emissions by 34% by 2020, and by 42% by 2025.In 2009, South Africa created its world leading Renewable Energy Independent Power Producer Procurement Programme (REIPPPP), which put in place a target of 10 000 gigawatt hours of renewable energy.It is targeting onshore wind, concentrated solar thermal, solar photovoltaic, biomass solid, biogas, landfill gas and small hydro power plants.By May 2012, the government had approved 19 wind, solar and hydropower proposals worth R73-million to help boost clean energy.By April 2015, the Department of Energy had approved 79 REIPPPP projects with 5 243MW being added to a national grid desperately in need of power, at a capital cost of R168-billion. The project winners had to supply all their own capital. About 40% of the spend is local content and thousands of jobs have been created.Since 2011, the department had procured the renewable electricity in bid windows 1 to 4 of the REIPPPP and connected 37 projects, with a capacity of 1 827MW, to the national grid. On average, 15% of this energy was delivered to the power system during system peak periods, alleviating pressure on the power system.The energy contribution should grow to approximately 7 000 gigawatt hours a year with the first 47 renewable energy independent power producers fully operational and producing at full capacity by mid-2016.In 2011, the government entered into the Green Economic Accord, which aims to create 300 000 jobs in the next 10 years through investment in the green economy. In 2012, the Treasury allocated R800-million over two years to the Green Fund, which aims to provide finance for high-quality, high-impact, job-creating green economy projects around the country.Download the Green Economy Accord [PDF]InfrastructureOver the past decade, substantial increases in government social service spending have helped reduce poverty, but now the government has begun to place a greater emphasis on infrastructure, employment and economic growth.South Africa will spend R813-billion on infrastructure over the next three years, and in the 2015/16 financial year, its capital expenditure programme will come to R274- billion.In a massive public-sector investment, in the previous three-year budget cycle it spent R642-billion on infrastructure development – and it plans to spend more than R827-billion over the next three years to improve access to export markets and reduce costs in the economy.In the 2015 budget, South Africa included an update on its infrastructure plan, saying infrastructure spending has been quite high for some time. Between 2009 and 2014, the country spent just over a R1-trillion on infrastructure.In this fiscal year, most infrastructure spending will be on transport and logistics at R339-billion, followed by energy at R166-billion, and water and sanitation at R117- billion, over the next three years. At national government level, infrastructure spend will come to R451-billion over the medium term framework.Most of the infrastructure projects undertaken by national government (83%) are co-ordinated by the Presidential Infrastructure Co-ordinating Commission.InvestorsThe overall investment environment remains encouraging. A G20 country, South Africa is considered a low-risk investment destination for investors looking for a foothold into Africa. As the continent’s largest African investor, South Africa sends more than 25% of its manufactured products into the continent.Through investment incentives and industrial financing interventions, the government actively seeks to encourage commercial activity and attract foreign capital.Global foreign direct investment slowed by 16% to $1.23-trillion in 2014, according to the 2015 World Investment Report by the United Nations Conference on Trade and Development, released in June 2015. In line with this, the report said foreign direct investment flows into South Africa dropped by 31.2% to $5.8-billion in 2014, down from $8.3-billion in 2013.This was off earnings of about R42-billion in foreign direct investment in 2011, which was more than four times the amount in 2010.Principal international trading partners of South Africa (besides other African countries) include: China, the United States, Germany, Japan, and the United Kingdom.Chief exports are metals and minerals. Machinery and transportation equipment make up more than one-third of the value of the country’s imports. Other imports include automobiles, chemicals, manufactured goods, and petroleum.RatingsSouth Africa is the second highest-ranked African country, after Mauritius, and third-placed among the BRICS economies in the World Economic Forum’s 2015-2016 Global Competitiveness Index, ranking 49th out of 140 countries surveyed while placing first for strength of auditing and reporting standards as well as financing through local equity market, and 12th for financial market development.South Africa is ranked 73rd out of 189 countries for ease of doing business according to Doing Business 2015, a joint publication of the World Bank and the International Finance Corporation.In December 2015, Fitch Ratings downgraded South Africa’s long-term foreign and local currency Issuer Default Rating to “BBB-” from “BBB” and to “BBB” from “BBB+”, respectively, and said the outlooks were stable. The issue ratings on South Africa’s senior unsecured foreign and local currency bonds were also downgraded to “BBB-” from “BBB” and “BBB” from “BBB+”, respectively. It said key drivers for the rating decision included further weakening of GDP growth performance and estimates of growth potential. There had also been additional delays to the availability of new electricity generation capacity. However, Fitch also said electricity constraints had eased somewhat, that the banking system was strong and that the structure of government debt was highly favourable.Also in December 2015, Standard & Poor’s credit ratings agency revised the outlook on the South Africa to negative from stable, although it affirmed the long- and short-term foreign currency sovereign credit ratings on South Africa at “BBB-/A-3”; it also affirmed the “BBB+/A-2” long- and short-term local currency ratings. The agency said the negative outlook reflected its view that GDP growth might be lower than it expected, for instance, as a result of persistent electricity shortages, continued weak business confidence, or labour disputes escalating again. In June, S&P acknowledged that South Africa had several strengths, including broad political and institutional stability, policy continuity, and fiscal prudence, which would help to contain the country’s fiscal and external balances and deep financial markets.“While S&P noted that growth in 2015 would be limited as a result of electricity supply shortages, the agency said it expected growth to increase over 2016 to 2018 as electricity supply, domestic consumption and net exports improved. [The] government has committed to redouble the efforts to deal with the challenges identified by S&P,” the Treasury said in response.Updated December 2015Sources:National TreasuryDepartment of Trade and Industry Oxford Business GroupStatistics South AfricaInternational Monetary FundWorld BankWould you like to use this article in your publication or on your website? See Using Brand South Africa material.last_img read more