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AHI Nuusflits/Newsflash: 08/07/2010
Posted on: 16 July 2010
1. Tweetalige benadering en aanpassing van die benaming “AHI Nuusflitse”
We have received a number of requests from some of our esteemed AHI members requesting that we also publish our weekly news flash in English. Due to time constraints in producing the bulletin at a certain deadline, it is unfortunately not possible to produce the bulletin in both Afrikaans and English, therefore in future we will apply a dual-language approach, where some items will be in English and some in Afrikaans. In future this product will now be named “AHI Nuusflits/Newsflash” and not “AHI Nuusflitse”.
Ons vertrou dat hierdie reëling lede sal pas en dat ons hierdeur al ons lede wil bereik en voorts die AHI se beeld en beleid van ʼn inklusiewe organisasie wil bevorder.
2. Wêreldbeker blyk lang termyn ekonomiese sukses te wees
Tydens Investec Batebestuur se wêreldbeleggingskonferensie vroeër die week, waar President ZUMA as gas spreker optree het, het hy gesê dat Suid Afrika met alle veiligheid kan sê dat die land goeie opbrengste uit die beleggings in die aanbied van die toernooi kan verwag. Volgens Minister Pravin Gordhan het berekeninge deur sy departement aangedui dat die toernooi sowat R 38 miljard sal inbring wat omtrent dieselfde bedrag is wat die land aan die bou van stadions, veiligheid en sekuriteit en vervoer-infrastruktuur bestee het. Zuma het gesê dat die belegging in infrastruktuur, stadions en telekommunikasie sowat 66 000 nuwe konstruksieposte geskep het en dat die sowat R 1.3 miljard wat aan veiligheid en sekuriteit spandeer is, sowat 40 000 nuwe polisielede tot gevolg gehad het.
Batebestuurders wat die konferensie bygewoon het, was dit eens dat die aanbied van die toernooi ʼn groot lang termyn voordeel vir Suid Afrika inhou, veral vanuit ʼn beleggingsoogpunt gesien, en dat die suksesvolle aanbieding van ʼn toernooi van die omvang duidelik gewys het dat Suid Afrika die potensiaal het om investering van die aard suksesvol te implementeer. Dit het ook die beeld van Suid Afrika verder versterk dat die land struktureel die vermoë het om beleggings en uitbreidings van die aard te hanteer en tot voordeel van beleggers te kan bestuur.
3. Reserve Bank Governor warns about double-dip recession
Reserve Bank Governor, Gill Marcus, yesterday warned about a double-dip recession and its implications for South Africa. “The reality is that we probably never really emerged from the crisis, which is now entering its next phase”, she said. Marcus further added that economic growth was expected to reach around 3% in 2010 after last year's recession but the recovery, which started in the third quarter of 2009, remained fragile owing to developments in Europe and to weak demand.
She explained that Europe accounted for about one third of South Africa’s manufactured exports and said that the slowdown in the Euro zone would unfortunately not be inconsequential. "The (local) recovery is taking place but it is hesitant, fragile and uneven. Sustainability will be dependent on global recovery in general and Europe in particular," she said, noting the country's Purchasing Managers' Index suggested private sector activity faltered in June. South Africa would lag other emerging markets, and that employment creation - after the recession shed about one-million jobs - would likely be slow.
In reaction to her views and based on recent data having pointed to stuttering growth, some analysts are now pencilling in another 50 basis-point cut. “The speech by Marcus ... significantly increases the risk of further monetary easing at the July MPC meeting,” said Razia Khan, head of Africa research at Standard Chartered.
- Regarding the Governor’s warning on a possible double-dip recession, the AHI wishes to add that such fears are certainly not unfounded but, that the opposite side of the coin is that South Africa was relatively well protected from the first round of the global economic crisis and it may buck the trend again
ʼn Geseënde sakeweek aan al ons lede, and for all those that went holidaying the past few weeks, consider this –
“There's a fine line between fishing and just standing on the shore like an idiot”
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