Lack of skilled artisans hurting economic growth – survey

Submitted by admin on Tue, 04/30/2019 - 20:47

Few young people take up training in the 13 key critical areas of the artisan economy, as most prefer going to university after high school.

While South Africa’s unemployment rate of 27.1% in the fourth quarter of 2018 reflected a figure of 6.14 million jobless people – with youth unemployment above 50% – lack of skilled artisans has been singled out by experts as a major barrier to job creation and economic growth.

9 OFFICIALS SUSPENDED FROM SMALL BUSINESS DEPT OVER CORRUPTION

Submitted by admin on Tue, 04/30/2019 - 15:18

Small Business Development Department Minister Lindiwe Zulu placed the employees on suspension for their alleged involvement in corruption and fraud.

Nine officials from the Small Business Development Department have been suspended.

Minister Lindiwe Zulu placed the employees on suspension for their alleged involvement in corruption and fraud.

Eskom scores R6.8bn loan from Brics bank for Medupi power plant

Submitted by admin on Wed, 04/03/2019 - 20:02

This is separate from the US$180 million loan agreement signed on Monday to connect 670MW of renewable energy projects to the national grid.

The New Development Bank (NDB) will provide a project loan of US$480 million (about R6.8 billion) to Eskom for environmental protection project for Medupi Thermal Power Plant, National Treasury said on Tuesday.

Public Enterprises Minister Pravin Gordhan recently said that the Medupi and Kusile coal-fired power plants were “badly designed and badly constructed”.

Investors waiting for elections, want stability and certainty

Submitted by admin on Wed, 04/03/2019 - 19:58

Investment envoy Jacko Maree says investors are continually stressing the need for political and policy certainty and simpler regulations.

Companies were “sitting on their hands”, awaiting the outcome of the general elections before putting money into the South African economy, says one of the country’s special investment envoys.

Improved policy, regulation needed to help Eskom power SA, Brics Bank meeting told

Submitted by admin on Wed, 04/03/2019 - 19:49

Patrick Dlamini was speaking during a panel discussion at the fourth annual meeting of the New Development Bank.

Without alternative power generation capacity, unemployment will remain rampant in South Africa, said Development Bank of Southern Africa (DBSA) chief executive Patrick Dlamini on Tuesday.

“The policymakers, they have a decision to make to make sure that you can be able to enable and sustain the economy by coming up with measures that will ensure that there are other generators of power,” Dlamini said.

Eskom’s black hole of debt keeps on getting bigger

Submitted by admin on Wed, 04/03/2019 - 19:47

On top of the growing debt, coal quality and delivery remains a problem.

Moody’s credit opinion issued yesterday on the heels of its recent decision to keep South Africa’s credit rating one level above junk, said elevated government debt and contingent liabilities risks from state-owned enterprises (SOEs), limited government’s ability to absorb shocks.

JACK MA’S AFRICA NETPRENEUR PRIZE OPEN FOR SUBMISSIONS

Submitted by admin on Thu, 03/28/2019 - 10:43

The application process for the Africa Netpreneur Prize Initiative, the $10 million contest launched by Alibaba Group Executive Chairman Jack Ma to inspire an entire continent of entrepreneurs, is now officially open.

Applications to compete for the prize, which will award $1 million a year for the next 10 years to African entrepreneurs across all industries, will be open online through June 30. (To apply or find out more about the prize, go here.)