South Africa's unemployment rate jumped to its highest since the global financial crisis more than a decade ago, data showed on Tuesday, piling pressure on a shrinking economy and President Cyril Ramaphosa's pledge to deliver a turnaround. Last week two ratings firms warned of the impact on an already dire economic growth outlook of the recent 59 billion rand ($4.15 billion) bailout for state power firm Eskom, sending the rand tumbling and raising the price of debt. That added to pressure coming from Ramaphosa's political battles with factions inside the ruling African National Congress (ANC), further dimming growth prospects in the continent's most industrialized economy. Second quarter unemployment rose to 29% in the second quarter from 27.6% in the first quarter, driven by employment losses in private households, transport and mining, data from Statistics South Africa showed. It was the highest jobless rate since 2008 when the quarterly survey started, statistician general Risenga … [Read more...] about South Africa’s unemployment rate hits highest since 2008 at 29%
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South Africa confront World Cup demons
Date created : 22/05/2019 - 10:45 Johannesburg (AFP) For South Africans, there is no escape from the reality of the country's bitter history of painful failure in World Cup knockout games."People will highlight the baggage -- it's like a big mirror that is always in front of you," said South African captain Faf du Plessis before departing for England.England was the scene of South Africa's most spectacular implosion, 20 years ago, when the World Cup was last played there.With the scores tied in a semi-final against Australia at Edgbaston, Lance Klusener and last man Allan Donald were involved in a near-farcical run-out that enabled Australia to go through to the final.South Africa have reached the semi-finals in four of their seven World Cup campaigns but have yet to reach a final.They have won only one of seven knockout matches, against Sri Lanka in the quarter-finals in 2015. That rare victory was followed by a dramatic semi-final against New Zealand in Auckland, which ended with … [Read more...] about South Africa confront World Cup demons
French invesment in South Africa’s railway engineers
With over 370 French companies operating in South Africa, France is the 4th largest investor in the country, providing 37,000 jobs and generating 8.5 billion euros for the South African economy.The transport sector is an area where the French-South African collaboration is proving particularly successful, with an ongoing partnership between Alstom, the French-based multinational transport company, and South African railways.Gibela is the result of this partnership. Founded in 2012, the Gibela Rail Transport Consortium is a joint venture where Alstom holds a 61 per cent stake of the shares while Ubumbano Rail and New Africa Rail own the rest between them.The Passenger Rail Agency of South Africa (PRASA) was looking for an international partner to revitalise the country’s railway industry and the tender went to Alstom, a company that has been operating in South Africa for the past 100 years. Way back in 1925, Alstom built South Africa's first electric locomotive … [Read more...] about French invesment in South Africa’s railway engineers
South Africa: Close encounters on the Eastern Cape
Less well known than other regions of the country, and less touristy, the Eastern Cape is a place I quickly discover leaves you feeling set free, and out in the middle of nowhere like nowhere else. And being in the middle of nowhere isn't just a state of mind. On average only three Irish tourists a year make it down to Victoria Manor hotel, which appears like a mirage on Market Street in Cradock, a faraway colonial farming town of about 35,000 people which is situated 250km - and often travelling over vast, sparse, flat and treeless plains - north east of Port Elizabeth, which happens to be the southernmost large city on the African continent. But that could be about to change. We get a welcome and a half from our hostess Lisa Ker who seems genuinely delighted to see us, and feeds us with the traditional South African dishes of bobotie - spiced minced meat and with an egg-based topping served with chutney - and koeksisters, syrup-coated doughnuts, and says she would love to see more … [Read more...] about South Africa: Close encounters on the Eastern Cape
Meghan Markle and Prince Harry’s shock plan to live in South Africa for four months a year after the birth of their baby
PRINCE Harry and Meghan are in talks to move to South Africa for four months a year in a bombshell that has stunned royal watchers. The country is top of a shortlist of African nations where they are expected to create a home from as early as next year, The Sun can reveal. Another Commonwealth state, Botswana, is a close second. The recommendations have been made in a top-secret briefing document about how the couple will establish their future after the imminent birth of their first child. But sources close to the Duchess of Sussex last night rubbished speculation that Meghan wanted to move back to the US and one day become the American president, insisting she had no political ambitions. We have learned senior members of the Royal Family, including the Queen and Prince Charles, have come on board with the African plan. But there are concerns within the royal household about the costs of the move. There would be a huge security bill for eight full-time police staff to relocate … [Read more...] about Meghan Markle and Prince Harry’s shock plan to live in South Africa for four months a year after the birth of their baby