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Is South Africa Worthy of Your Investment? PDF Print E-mail
Business
Written by Martha Chauke   
Thursday, 11 August 2016 00:47

Developing countries like South Africa need FDI (Foreign direct investment). They are investments in a business by an investor from another country for which the foreign investor has control over the company purchased. The Organization of Economic Cooperation and Development (OECD) defines control as owning 10% or more of the business. Increased FDI in developing countries contributes to the country’s economic development because of external capital and increased revenue. Helping developing countries create employment opportunities for its citizens, invest in local skills development and new local industries.

The developing government is able to use the capital infusion and tax revenue generated from FDI for economic growth by improving the physical and economical infrastructure of the country. Such as building roads, educational institutions, developing transport and communication systems and also subsidising the creation of domestic industries. Making it possible for all citizens to benefit from the FDI. Besides from the monetary aspect, FDI affords developing countries a learning experience which in turn leads to other growth paths. 

South Africa is currently losing Barclays, which owns Absa bank, as an investor and major newspapers are reporting that the country’s wealthiest individuals are taking their money out of the country because they are weary of the country’s economic future. To top things up, according to the latest World Investment Report 2016 FDI into South Africa is sitting at $1.8 billion, the lowest in 10 years, owing to factors such as lacklustre economic performance, lower
commodity prices and higher electricity costs.

Policy uncertainty by the government has a major part to play in the economic misfortune and lack of foreign investment confidence from Western industrialised countries which happen to be the country’s major source of FDI. South African households are extremely indebted while the government is short of funding both resulting in limited investment and domestic consumer growth. The future will only start looking brighter for South Africans once the country improves on domestic investments in the form of foreign direct investment.

According to risk analysts, South Africa has risk factors which prevent it from being a lucrative investment market which include the prevalence of white-collar crime and corruption and the increasingly inevitable outcome that South African bonds will be downgraded to “junk” status. Not to mention that South Africa is Africa’s most targeted region for cyber crime. Risk analysts also conclude that South Africa is still a good place to do business. There is plenty of slow and steady money to be made in the country. South Africa’s fundamentals are not as bad as they seem. If you are confident South Africa is worthy of your investment, click HERE for investment insights.       

 

Editorial

2016 Global Peace Conference to be held in Freetown---as IPRA 50th Birthday confab ends in Istanbul

 

The 26th biennal conference of the Internatonal Peace Research Association (IPRA) is billed to take place in  Freetown, Sierra Leone in November 2016, marking the second time Africa has hosted the conference since the founding of IPRA in 1964. This was announced following the re-election of  the two IPRA Secretaries-general, Dr Ibrahim Seaga Shaw (pictured) and Dr Nesrin Kenar, who co-ordinated the 25th  IPRA conference in Turkey,  at the organisation’s administrative meeting on August 14 during the 25th  IPRA  conference in Istanbul  to serve a second term of two years.

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Business News

Four illegal fishing cases found in Sierra Leone in four days

FREETOWN, Sierra Leone, April 20, 2017/ -- Four illegal fishing cases have been found during a joint surveillance mission conducted by Greenpeace (www.Greenpeace.org/Africa/en) and Sierra Leone fishery authorities. Two Chinese vessels and one Korean vessel have been arrested for infringements of Sierra Leone fishing legislation, including possessing or using illegal fishing nets on board, no visible marking and a lack of required paperwork, including log books and authorisation for unloading catch. Fishing authorities ordered the vessels to return to Freetown port for further investigation. A fourth vessel, owned by an Italian company, was found with four kilograms of shark fins on board. Though not illegal under Sierra Leonean laws, this is a clear violation of European Union (EU) fishing rules. This boat’s case will be taken further with relevant EU authorities.

In addition, more than 70 bags of shark carcasses were found on one of the Chinese vessels.

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Media News

44 Journalists in Beijing for China Development Studies and Media Exchange

The 4th session of the China Africa Press Center (CAPC) Program hosted by the China Public Diplomacy Association (CPDA) was officially launched on Wednesday 1st March 2017 in Beijing, China. This year’s event is running simultaneously with the China South Asia Center 2017 program. Both programs brought together forty-four journalists from Africa and South Asia.

The program you will give journalists the opportunity to cover major domestic and international events in China such as the upcoming Two Sessions, i.e, the 5th Session of the 12th National People's Congress (NPC) and the 5th Session of the 12th National Committee of the Chinese

People's Political Consultative Conference (CPPCC) (similar to Parliamentary sessions in many countries) in March, the Belt and Road Forum for International Cooperation in May and the 9th BRICS Summit in Autumn this year.

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Commentary

A NEW DAWN FOR JUSTICE AND HUMAN RIGHTS IN SIERRA LEONE, PARLIAMENT APPROVES MELRON NICOL-WILSON AS NEW OMBUDSMAN

The Parliament of the Republic of Sierra Leone has overwhelmingly approved the appointment of Mr Melron Nicol-Wilson as new Ombudsman, on Tuesday April 11, 2017. This follows him being named by H.E President Dr. Ernest Bai Koroma as the replacement to Justice Edmond Cowan - a long-standing legal icon, who now chairs the Sierra Leone Constitutional Review Committee.

A man whose action speaks louder than words, Mr Nicol-Wilson has been appointed as new Ombudsman for Sierra Leone, a position reserved for high-profile people, who are well-respected and with unblemished character. Mr Nicol-Wilson has the typical pedigree of an Ombudsman, best known both in Sierra Leone and internationally as a champion for justice and human rights.  

The Parliament’s decision to approve Mr Nicol-Wilson was anticipated, as the high-profile human rights lawyer emerged unscathed from an exchange of views with Members of Parliament.

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View Point

ELECTION IS A TESTIMONY TO PEOPLE’S SOVEREIGNTY

(The thoughts expressed in this article are purely and entirely the thoughts of the author)

Election in any democratic setting, include the enjoyment of those rights that will elicit the full participation of individuals in determining the political life of his/her country. An election is a decision making process through which eligible citizens(those who have reached the age of majority, 18 years and above and with sound mind) freely choose their leaders through the ballot box to hold public offices for a specified term.

Generally, people vote with the expectation that the office holders would represent their communitiesand or countries best interest.  Elections are viewed as a central feature of the rule of law, human rights, and democracy. Essentially, election is a testimony to peoples’ sovereignty and that ought to be respected and the process must be credible, otherwise there will be challenge with regards the acceptance of the result.

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News - Press Release

Police reject security for Alternative Peoples Independence Procession and Rally

April 24th 2017: On the occasion of the 56th anniversary of Sierra Leone’s independence, Movement for Social Progress (MSP) had requested the Sierra Leone Police to provide the necessary security for a peaceful Alternative Peoples Independence Procession and Rally that was planned to coincide with the official celebrations. The procession was planned to start from Clock Tower to Brima Atouga Stadium in the East end of the city while the official events are scheduled to take place in the West end of the city.

In a meeting with senior members of the Sierra Leone Police at the SLP headquarters, on Monday 24th April attended by the Inspector General, Francis Munu, the Head of Police Operations, Assistant Inspector General (AIG) Al-Sheikh Kamara, AIG Memuna Konteh Jalloh, AIG FUK Dabor, among others, the police top brass told members of MSP that they would not be able to provide security for the procession and rally.

The Inspector General of Police, Francis Munu, informed the meeting that they were overstretched with covering the official events, the traditional masquerade (or Odele) parade as well as the Lantern Parade on the eve of Independence.

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Society -Local News

AG to launch LAB in Waterloo

The Executive Director of the Legal Aid Board, Ms. Fatmata Claire Carlton-Hanciles has told the people of Waterloo that the Attorney General and Minister of Justice (AG), Hon. Joseph Fitzgerald Kamara will serve as the keynote speaker at the launch of the Legal Aid Board in Waterloo in the Western Area Rural District on 6 May 2017.

Ms. Carlton-Hanciles pointed out thatHon. Joseph Fitzgerald Kamara has served as keynote speaker in all the launches the Board has had around the country. He noted that the Office of the Attorney General and Ministry of Justice is the supervisory ministry for the Legal Aid Board and further underlined the importance of having the holder of the office at such events in terms of availing himself with the challenges ordinary people face in accessing the justice system. More importantly, it provides an opportunity for these issues to be discussed by the cabinet.

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Development

LAB wants transports to allocate seats to the blind

The Executive Director of the Legal Aid Board, Ms. Fatmata Claire Carlton-Hanciles has disclosed plans to launch a White Cane Campaign in the coming weeks.

Ms. Carlton-Hanciles made the disclosure while addressing a cross section of the Waterloo Community including stakeholders at the District Council Hall on Monday, 24 April 2017 in a meeting to plan the launch of the Legal Aid Board in Waterloo in the WesternArea Rural District on 6 May 2017.

She noted that the campaign will seek to address the challenges faced by blind people in using public transport. ‘Blind people have been suffering in silence for far too long,’ she said. ‘They have been discriminated against because of their disability and this cannot be tolerated.’

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Politics

SAM SUMANA TRAVELS TO GHANA ON "EMERGENCY TRAVEL CERTIFICATE"
Former elected Vice President Samuel Sam Sumana left Freetown International Airport, Lungi late afternoon Wednesday April 19, 2017 onboard Kenya Airways on an "Emergency Travel Certificate",  en route to Abuja, Nigeria on or about April 23/24, 2017 for the hearing of his petition filed on October 24, 2016 in the ECOWAS Community Court of Justice, "seeking an enforcement of his fundamental Human Rights arising from his unconstitutional removal from office, and for further orders contained in the application."
 
"This matter has been set down for hearing by the Court for April 26, 2017."
 
According to a spokesman for the Sam Sumana family Matthias Bendu who was with Sam Sumana at the airport until the aircraft was airborne because of advanced information reaching the family that there would be some problem awaiting Sam Sumana at the airport, Matthias Bendu told this Writer on the cellphone from the airport that Sam Sumana "was detained by Immigration Officers at the airport for more than thirty minutes  after the aircraft  landed, and it was due to the intervention of the Inspector General of Police Francis Munu who told the immigration Officers that Sam Sumana had not committed any crime and must be allowed to travel".
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