South Africa has shed almost half a million jobs in the first half of the year – with things not looking like they will improve any time soon as the country heads for 0% growth.
Employment data released by Stats SA on Thursday showed that South Africa’s unemployment figures dropped slightly from 26.7% to 26.6% – however 129,000 jobs were still lost in the quarter.
In the first quarter of the year, 355,000 jobs were lost, taking the total to just under half a million (484,000) with prospects for the second half of 2016 looking bleak.
Jobs were lost in the services, agriculture, transport and mining sectors, Stats SA said.
According to economists, South Africa’s 0% growth outlook announced by the South African Reserve Bank in July, shows how much strain the country’s economy is under, with many sectors facing financial strain.
Some argue that the country is showing signs of already being in a recession – though it has managed to avoid the technical definition of two successive quarters of decline.
Finance minister, Pravin Gordhan has said that the country will likely avoid a technical recession, with Q2 expected to show GDP growth – but with the country entering into a highly political period with the upcoming elections and subsequent market reactions, the six months ahead will be tough.
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Vodacom to expand video service in Africa
Launched in August 2015, the VOD service offers a variety of e.tv and SABC TV programmes, for which customers pay R5 for a 30-minute show. It plans to have two VOD platforms, for the high end and low end of the market.
Vodacom is also in discussions to add more local and international video content.
The company’s strategy is centred on deploying super-fast wireless and fixed-line networks that will enable value-added digital services such as VOD and music streaming.
Vodacom also sees new revenue streams in areas such as the internet of things, and fibre to the home and business.
The group is spending about R9bn in SA on its network in 2016. As a result, Vodacom has seen a significant rise in data consumption helped by, among other things, the migration of customers to better packages and the uptake of its branded low-cost devices. The migration from 2G to 3G network had resulted in a tenfold rise in data consumption, said Joosub.
Gabon president warns of unrest ahead of elections
LIBREVILLE Gabon President Ali Bongo Ondimba has warned of possible unrest during the August 27 election which he said was the “strategy” of the opposition challenging his eligibility to seek a second seven-year term.
“It is to be feared, because it is the opposition’s strategy for many years,” Bongo said in an interview with the weekly “Jeune Afrique” published Sunday which asked him if he feared “abuses and even violence” after the vote.
The opposition “has started to heat things up by announcing that the election will not be transparent, that we will steal victory,” the president said.
Bongo described as “nonsense” the arguments of critics who have opposed his re-election on the grounds that he was a Nigerian who was adopted in the 1960s by his father, long-ruling former president Ali Bongo, and was therefore ineligible as a foreigner under the constitution.
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Rwanda: New Visa Fees Come Into Force
The Directorate of Immigration and Emigration announced new visa fees for visitors coming to Rwanda as it seeks to align fees with the global currency rate.
The new visa fees came into force effective July 31 and will remain applicable for the next 12 months, according to a statement issued by the directorate.
Making reference to annual average cross rate as provided by the central bank, the revision has seen a downward change on other currencies, save for the dollars.
The new transit and entry visa is now $30, while travelers with Euros will be paying €27 and those with pounds need to pay £20.
Tourist and family visa costs $50, while those with Euros and Pounds will pay €45 and £35, respectively.
Although travelers with diplomatic passports, as usual, are visa fee exempted, for travelers seeking conference visa the fee has remained 30 for those paying in dollars, while those paying in Euros will pay 27, and 20 for pound holders.
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South Africa Lost Half A Million Jobs In First Half Of 2016 – Employment Data
South Africa has shed almost half a million jobs in the first half of the year – with things not looking like they will improve any time soon as the country heads for 0% growth.
Employment data released by Stats SA on Thursday showed that South Africa’s unemployment figures dropped slightly from 26.7% to 26.6% – however 129,000 jobs were still lost in the quarter.
In the first quarter of the year, 355,000 jobs were lost, taking the total to just under half a million (484,000) with prospects for the second half of 2016 looking bleak.
Jobs were lost in the services, agriculture, transport and mining sectors, Stats SA said.
According to economists, South Africa’s 0% growth outlook announced by the South African Reserve Bank in July, shows how much strain the country’s economy is under, with many sectors facing financial strain.
Some argue that the country is showing signs of already being in a recession – though it has managed to avoid the technical definition of two successive quarters of decline.
Finance minister, Pravin Gordhan has said that the country will likely avoid a technical recession, with Q2 expected to show GDP growth – but with the country entering into a highly political period with the upcoming elections and subsequent market reactions, the six months ahead will be tough.
Source