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South Africa: South Africa's Economy Is in a Mess. New Finance Minister Must Hit the Road Running
The Conversation Africa, 11 October 2018
The latest reshuffling of South Africa's finance minister, following the resignation of Nhlanhla Nene and appointment of Tito Mboweni, may have negative origins but it brings with… Read more »
Advice to Finance Minister Tito Mboweni - Hit the Ground Running!
Comeback kid Tito Mboweni served as labour minister in late president Nelson Mandela's Cabinet and was later appointed as Reserve Bank governor, before taking a break from the political arena. He replaces Nhlanhla Nene who left under a cloud after his meetings - with the Gupta brothers who are accused of state capture - was made known at the inquiry that has thus far heard damning testimony of corruption and maladministration. His resignation letter to President Cyril Ramaphosa was accepted. South Africa's unemployment rate is at a staggering 27%, while the price of petrol and other commodities are seeing record increases. The Rand is also doing poorly against the US Dollar, the Pound and the Euro.
InFocus
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President Cyril Ramaphosa has appointed a former labour minister and central bank chief as South Africa's new Minister of Finance. Untainted by corruption or recent governing party ... Read more »
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A South African delegation led by Deputy President Cyril Ramaphosa says it will use the 2018 World Economic Forum to restore investor confidence in the South African economy. The ... Read more »
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The economy moved into recession with the reported decrease of 0,7% in gross domestic product during the first quarter of 2017, following a 0,3% contraction in the fourth quarter ... Read more »
