South Africa

Strong data from mining and manufacturing helped boost the South African economy in Q2 [Xinhua]
Low commodity prices, policy uncertainty and weak investor confidence have pushed the International Monetary Fund (IMF) to lower its 2017 economic growth forecasts for Africa’s two largest economies.
In its World Economic Outlook Report, the IMF brought South Africa’s forecast GDP expansion for next year down to 0.8 per cent, compared with the 1 per cent it had originally anticipated in July.

The new plan announced in South Africa yesterday relies on strong cooperation from range countries such as South Africa, Botswana, Kenya and others to boost the number of rhinos, already an endangered species [Xinhua]
South Africa has proposed a plan two years in the making to save rhinos from extinction on the continent.
Late on Sunday in Johannesburg, Minister of Environmental Affairs Edna Molewa brought forward the African Range State’s African Rhino Conservation Plan which she says presents a viable mechanism for the collective to maintain rhino populations in Africa.

An elephant roams the Maasai Mara National Reserve in Kenya. The illegal ivory trade as well as animal trafficking is the fourth largest criminal activity in the world, the EU says [Xinhua]
South African President Jacob Zuma on Saturday opened the 17th Conference of the Parties (COP) to the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES) in Johannesburg, a gathering which will discuss key wildlife conservation issues.
The conference is set to last until October 5.

Strong data from mining and manufacturing helped boost the South African economy in Q2 [Xinhua]
The South African economy has reaped the benefits of a weaker rand, with a 6.6 per cent increase on final sales in the second quarter, an 18.1 per cent surge in exports and 5.1 per cent decline in imports, a report from the national statistics agency showed on Tuesday.
Final sales are calculated by subtracting the change in inventories from the gross domestic product (GDP), on a quarter-by-quater (q/q) seasonally adjusted annualized (saa) basis.

The Centre for Development and Enterprise (CDE) has called the probe an attack on Gordhan and warned of dire consequences for the economy [Xinhua]
Controversy and high drama in South African politics took a sharp turn earlier this week when the Directorate for Priority Crime Investigation (also known as ‘the Hawks’) summoned Finance Minister Pravin Gordhan to answer questions in relation to a probe of a purported surveillance unit established while he was head of the country’s tax authority.

High youth unemployment means young people such as these students could graduate but fail to acquire the skills or experience needed to drive the economy forward [Xinhua]
The South African youth employment tax incentive has exceeded expectations, but as yet there is no indication that it will continue beyond the end of this year.
National Treasury Deputy Director-General Ismail Momoniat said the Treasury was engaging with members of the National Economic Development and Labour Council (Nedlac) on the incentive, but no decision had been reached on its extension.

South Africa’s collaboration in BRICS is aimed at contributing in a positive manner to the formation of global solutions to global challenges, says Nkoana-Mashabane [XInhua]
The BRICS Post (TBP) editor-in-chief Zeenat Saberin recently interviewed South Africa’s Minister of International Relations and Cooperation Maite Nkoana-Mashabane about the challenges of violence the continent faces, and the prospects of regional and global cooperation.

The currencies of three BRICS economies have steadily strengthened against the US dollar in recent weeks.
Brazil’s real, Russia’s ruble and South Africa’s rand have benefited from a ‘pause’ in the momentum to raise interest rates, particularly in the US.
All three countries have battled recession in contrast to BRICS members China and India, which are forecast to grow 6.7 per cent and 7.6 per cent, respectively, in 2016.
The rand is up nearly 15 per cent against the dollar in 2016 after suffering a significant slump in mid-2015.

Photo taken on Sept. 27, 2011 shows a worker checking trucks in a FAW plant in Johannesburg, South Africa [Xinhua]
The Coega Development Corporation has signed an R11 billion ($823 million) deal with the Beijing Automobile International Corporation (BAIC) to launch the biggest automotive investment in Africa in the last 40 years.

The five leaders of BRICS met in Ufa, Russia on 9 July 2015 [Xinhua]Chinese President Xi Jinping will host his four BRICS counterparts for an informal BRICS leaders meeting on the sidelines of the G20 Summit, the Chinese Foreign Ministry said on Monday.
Foreign Ministry Spokesperson Lu Kang said BRICS leaders Michel Temer, Russia’s Vladimir Putin, India’s Narendra Modi and South Africa’s Jacob Zuma will discuss bilateral ties and global issues in Hangzhou.
The G20 Summit will be held in Hangzhou, Zhejiang on September 4-5 this year.