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Load-Shedding is Detrimental To SA's Economy And EAC Increases Import Tariffs To Project Local Manufacturers
During a press conference over the weekend by the Communication minister and government spokesman, Cameroon denied the alleged accusation of indiscriminate killings, arrests, and torture of people in the strife-hit English speaking Northwest/Southwest regions by the country's forces in a report by Amnesty International. The minister describes the report as hasty inference, unacceptable defamatory tactics in an attempt to destabilize the country. Tanzania and Kenya as part of the big four economies in East Africa Community announced a proposed tariff increase of some selected goods in an attempt to protect the local manufacture from any forms of unfair advantages by cheap imported and second hands goods. According to the agreement reached by the Finance ministers from EAC member states during their last meeting, there was a unanimous decision to effect changes to the CET and make amendments to the EAC Customs Management Act 2004, to protect local industries and farmers from cheap imports of items like sugar, maize, wheat and rice, as well as Customs-related taxation measures. Uganda and Rwanda have not proposed any tariff changes as yet. In a statement by Kenya's finance cabinet secretary, he disclosed that the local textile and footwear sector is closing down due to increased unfair competition from cheap imported textiles and footwear as well as secondhand clothing and footwear.
Chad-Cameroon Pipeline Recorded A Declined Revenue And Nigerian Equities Bled On Political Uncertainty
We started the show on an inspirational note; encouraging you to adopt an attitude of gratitude in your pursuit. Chad-Cameroon pipeline generated CFA8.38 billion for Cameroon for the first four months of the year 2018 with 12.88 million barrels of crude oil conveyed. Over the same period in 2017, the pipeline generated CFA9.01 billion for Cameroon and 11.27 million of crude oil moved. Over the last four months from January to April 2018, investors have lost N2.35 trillion on the Nigerian equity market attributed to concerns by Foreign Portfolio Investors, FPIs, and other domestic portfolio managers with the unfolding political events in the country in preparation for the coming 2019 general election as well as the cautious stands. The Kenyan Agriculture and Food Authority have given a go-ahead to the adoption of genetically modified cotton, on the ground that it could increase production threefold and create up to 600,000 jobs in farms and apparel factories. The South African Statistics Agency is scheduled to release the Real GDP data for the 1st quarter of 2018 on Tuesday the 5th June.
Bianca Botes, Corporate Treasury Manager at Peregrine Treasury Solutions joins us on today's show to give unpack what would be the effect of the current instability of South African Rand on the growth potential of the country according to the World Bank outlook 2018. The dollar had given up some ground on Wednesday following China’s announcement of a potential change in its US Treasury buying strategy, but quickly recovered, and the stronger USD and the continued Zuma saga continue to weigh on the rand. However, the rand is supported by stronger commodity prices and the afterglow of Cyril Ramaphosa’s NEC victory. The rand is currently doing a balancing act between politics and economics.
According to the World Bank global Economic outlook 2018, Global Economy is set to Edge Up to 3.1 percent in 2018, while growth in non-resource intensive African countries is anticipated to be more solid than the resource-intensive countries with regional growth projected to be recovering, supported by modestly rising commodity prices, strengthening external demand, and the end of the drought in a number of countries. The region's economic growth is projected to continue to rise to 3.2 percent in 2018 and to 3.5 in 2019, on the back of firming commodity prices and gradually strengthening domestic demand. South Africa is forecast to tick up to 1.1 percent growth in 2018 from 0.8 percent in 2017. Nigeria is anticipated to accelerate to a 2.5 percent rate this year from 1 percent growth in the year just ended. Growth in Angola is expected to increase to 1.6 percent in 2018. Côte d’Ivoire is forecast to expand by 7.2 percent in 2018; Senegal by 6.9 percent; Ethiopia by 8.2 percent; Tanzania by 6.8 percent; and Kenya by 5.5 percent as inflation eases.
ACBR assesses the performance of all 54 African countries in an 800-page infographic-driven report. It is a key resource for any business, government, organisation or institution that will find value in country-specific and comparative assessments of all 54 African countries. The report scores, ranks and insightfully assesses each country holistically, as well as across business, economic, political and social factors.
The Common denominator in the story of every African refugees is the abundance of natural resources like gold, crude oil, diamond etc. On this show, James Hall joined the conversation from Swaziland; Where do Africa's refugees originate in 2017 and what do they all have in common? How are refugee departures and foreign nationals arriving as affect a country's economy? How Economic refugees can assist their country's economies by sending earnings back to families as remittances discuss. What are the benefits to a country's economy of economic refugees who seek asylum in a country?
An interesting finding from the Africa Country Benchmark Report (ACBR) that we'll be putting out soon: that in the Business categories Africa countries score highest in Market Freedom. This is the only occurrence of such unanimity in the four ACBR quadrants, and is of interest to business-oriented ABR. What does this mean for Africa? What is the Significance of Market Freedom score, what it says about African government's recognition in their economic policies about the need for Market Freedom. While these scores are high relative to other scores, those other scores are poor and Market Freedom scores are mediocre. What is required for improvement? what are the encumbrances to market freedom, economically and politically? Once Market Freedom is established it is not a safe and absolute policy forever, but one that is compromised by States of Emergency, government corruption that distorts economies and other factors.
Africa’s landlocked countries have a built-in law enforcement and security disadvantage because they often lack absolute control over their borders. A key finding of the new Africa Country Barometre Report (ACBR), put out by the Johannesburg consultancy firm In On Africa, the publisher of Africa Conflict Monitor (ACM), concerns the vulnerability of landlocked states. The same cross-border economic disadvantages faced by Africa’s landlocked countries also exacerbate their security status. The ACBR 2017 examined key indicators of country performances in four major topics – business, economics, politics and society – and for the first time made aggregate rankings on an index that provides a comprehensive assessment of individual countries and African regions in the four topics. While a glance at index ratings provides revealing numbers, an analysis of the underlying meanings of index rankings has yielded some intriguing insights.
A successful digital transformation requires making trade-off decisions. Here’s how successful CEOs guide their business’s reinvention. Source: Mckinsey (http://www.mckinsey.com/business-functions/digital-mckinsey/our-insights/the-seven-decisions-that-matter-in-a-digital-transformation?cid=podcast-eml-alt-mip-mck-oth-1703)
Junk status beckons as rating agencies prepare to review South Africa, On tuesday, Tuesday, Nigerian National Bureau of Statistics (NBS) will release its March 2017 Monthly FACC Disbursements Report. Hard times bite in Kenya as the cost of food, fuels, water and rent escalate, putting a strain on the budgets of the poor and middle class families. The overall inflation rate in March stood at 10.3 per cent year-on-year. The South African Revenue Service (SARS) is releasing the preliminary 2016-17 tax collection figures on Monday against the backdrop of its target being revised down by R30bn. Manufacturing PMI Stands at 47.7% in March 2017 from 44.6% in February 2017 - Central Bank Of Nigeria. The rise in prices of goods and services slightly slowed down in the last 12 months thus helping Uganda to register a decline in annual headline inflation of 6.4 per cent for the year ending March compared to 6.7 per cent recorded last year.
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