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IMF Lowers South Africa’s Economic Growth Forecasts

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IMF Lowers South Africa’s Economic Growth Forecasts

The International Monetary Fund (IMF) on Tuesday cut South Africa’s economic growth forecasts for this year and next, citing urgent reforms to shore up its growth.

The fund, in its latest World Economic Outlook report, said the country needed to implement reforms to improve policy certainty and the efficiency of state-owned companies.

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“The IMF now expects South Africa’s economy to expand 0.8 per cent, down from a forecast of 1.5 per cent in July.

“It also expects the economy to grow 1.4 per cent in 2019, down from a previous estimate of 1.7 per cent.

“Recent reforms in South Africa, such as measures adopted to tackle corruption, to strengthen procurement, and in the intention to eliminate wasteful expenditure, are welcome.

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“However, further reforms are needed to increase policy certainty, improve the efficiency of state-owned enterprises, enhance flexibility in the labor market, improve basic education, and align training with business needs,” the IMF said.

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Having stagnated for a decade, South Africa’s economy slipped further in the second quarter by entering recession for the first time since 2009.

In response, President Cyril Ramaphosa announced a plan to shift government expenditure and launch an infrastructure fund.

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African News

NYSC Introduces Biometric Clearance System To Curb Corruption – DG

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NYSC DG Sulaiman Kazaure

Director-General of the National Youth Service Corps, Major Gen Suleiman Kazaure, has disclosed that the corps has introduced a biometric clearance system to eliminate corruption and compromise by officials and corps members.

The DG stated this on Monday during a leadership and anti-corruption sensitisation workshop in Abuja, designed to raise a crop of officials that would imbibe good leadership qualities and enthrone a culture of transparency and accountability.

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He also revealed that the scheme had ensured strict compliance with government policies on the treasury single account, integrated personnel and payroll system, and government integrated financial management information system.

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The D.G says the introduction of biometric clearance system for corps members has virtually eliminated all chances of compromise by officials, as well as absenteeism and abscondence by corps members.

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The biometrics system now ensures only deserving corps members are paid the monthly and other statutory allowances.

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African News

Zimbabwe: Party Accused Of Partisan Distribution Of Aid To Victims Of Cyclone

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Zimbabwe: Party Accused Of Partisan Distribution Of Aid To Victims Of Cyclone

Zimbabwe’s ZANU-PF lawmaker for Chimanimani East, Nokuthula Matsikenyere, has been sucked into the eye of a storm over the partisan distribution of aid to victims of cyclone idai.

Chimanimani and Chipinge in the south east of Manicaland were the worst affected areas by the storm that left a trail of destruction and more than a hundred forty persons dead.

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Affected villagers have accused ruling ZANU-PF officials, including Matsikenyere, of politicizing the disaster relief donated by the United Nations International Children’s Emergency Fund (UNICEF).  They said the aid was given to only ZANU-PF supporters.

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In a heated meeting on Saturday in a village where the relief aid was distributed, Matsikenyere was quoted as openly saying to the disgruntled villagers they deserved to be deprived of the disaster relief because they did not vote for her during last year’s elections.

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The lawmaker later confirmed to a news crew that she directed the aid distribution, but that she was not involved in compiling names of recipients.  She did not admit to saying what the villagers attributed to her.

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African News

Study Shows Millions In Africa Live In Fear Of Losing Their Homes

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Study Shows Millions In Africa Live In Fear Of Losing Their Homes

A new study Prindex shows tens of millions of urban dwellers in Sub-Saharan Africa live in fear of losing their homes against their will.

The study shows that in eighteen countries surveyed, nearly thirty-two million adults in urban areas are “insecure in their rights to their home and land.”

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The study says this means that more than sixty million adults living in urban areas are tenure insecure.  If the trend continues, the study says insecurity could afflict more than two hundred million by 2050.

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Measuring security of tenure is one of the indicators used to assess progress in attaining the first of the sustainable development goals, which is the eradication of poverty.

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Prindex is an initiative launched by two think tanks—the global land alliance, and the London-based overseas development institute.

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