South Africa

Increase is despite y/y decline in the final two months of 2017
The record bulk exports confirm that the South African economy has exited recession, analysts say [Xinhua]South African bulk export volumes rose by 4.9 per cent in 2017 to a new record of 171.3 million tons (Mt) after falling by 2.8 per cent in 2016 to 163.3 Mt, data from the Transnet National Ports Authority (TNPA) showed.
The record bulk exports confirm that the South African economy has exited recession and is on its way to surprising most economists with its renewed vigour.

Cyril Ramaphosa, the next President of South Africa, was the man behind the entry of international fast food behemoth McDonalds into the country, earning him the sobriquet “The Big Mac”. Zimbabwe’s new President Mnangagwa bears the nickname “The Crocodile” from his days as head of Robert Mugabe’s secret police for, like his namesake, coming out of nowhere to suddenly snatch[Read More...]

South Africa: The African National Congress, which is the ruling Communist Party of South Africa, announced its intention to expropriate land from white settlers without compensation. It also declared that the nation's ​privately-held Reserve Bank must be wholly owned by the state. ​These announcements sent the rand, also known as the ZAR, plummeting on the currency exchange. [...]

It’s been a difficult few months for Zuma but will ANC chief Ramaphosa now recall him? [Xinhua]
The recall of President Jacob Zuma by the African National Congress (ANC) will be the first test of the new leader of the ANC, Cyril Ramaphosa.
Unlike the recall of former President Thabo Mbeki however, South Africa does not have the luxury of waiting ten months, as Moody’s Investors Service gave the South Africa government 90 days starting in late November to put things right.

Recovery in gross operating surplus should boost Company Income Tax collections  
Is the South African economy finally turning a corner? [Xinhua]
The South African Revenue Service (SARS) said at its media briefing on the 2017 Tax Statistics on Tuesday that it expected a turnaround in tax collections as the economy improved after a slowdown in 2016.
“We expect a turnaround in company tax collections as the economy improves, but this will come with a lag,” Dr Randall Carolissen, the SARS head of revenue and research said.

Palestine Information Center – December 13, 2017 PRETORIA – “The Council of the Tshwane University of Technology (TUT) has resolved that TUT will not forge any ties with the State of Israel or any of its organizations and institutions,” TUT spokesman on the issue Professor Rasigan Maharajh told the African News Agency (ANA) during an […]

Transaction value rose by 8.4 per cent y/y to R2.5 billion ($183 million) on Black Friday
Is the South African economy on the rise again? [Xinhua]
Although Black Friday and Cyber Monday are American shopping “inventions”, South Africans did not follow American behavior slavishly as in the US, Cyber Monday had a higher online transaction value than Black Friday, whereas in South Africa Black Friday was more popular than Cyber Monday.

South African GDP growth held back by inventory depletion as resurgent demand outpaces ability to deliver the goods  
File photo: The Mall of Africa in Midrand, near Johannesburg, South Africa [Xinhua]
South African final demand, which is the demand from households, government, fixed capital formation and net exports, but excluding the change in inventories, surged by 3.6 per cent on a quarter-on-quarter (q/q) seasonally adjusted annualised (saa) basis in the third quarter after a 2.9 per cent gain in the second quarter.

There are far fewer children living under poverty in South Africa, the Child Gauge 2017 report found [Xinhua]
A new report from South Africa’s Children’s Institute is raising alarm bells that development of children in the country appears to be lagging behind.
The South African Child Gauge, published in Cape Town every year since 2005, monitors the progress of children in the country with particular emphasis on their rights.
This year, the report warned that violence against children remained widespread in South Africa.