Tag: economic growth

The first six months of the financial year were highly successful for the Group. Naspers accelerates growth with operations achieving topline growth of 24%. Consolidated e-commerce revenue reached US$3.3 billion during this period. Importantly, e-commerce adjusted EBIT increased fivefold to US$169 million.

As South Africa assumes the presidency of the Global Group of 20 (G20) in December, it faces significant opportunities. The country is set to lead global discussions on sustainable energy and economic development for the Global South. "Just energy transition" and financing solutions for economic growth are the top priorities on South Africa’s G20 agenda. This highlights the need for innovative, resilient, and green technology solutions.

There is a problem with Enterprise and Supplier Development (ESD) programmes in South Africa. We are finding out the nature of the problem and what can do about it. South Africa has a strong financial and capacity development landscape for Small, Medium and Micro Enterprises (SMMEs).

In Johannesburg, City Improvement Districts (CIDs) play a crucial role in urban development and management. These districts focus on collaboration. Property owners and tenants work together to tackle critical urban challenges. As a result, they enhance the quality of business environments.

Austerity does not need to mean suffering. Cutting public spending is urgent to address South Africa’s growing debt. Delaying cuts will only worsen debt and interest payments, making future cuts more severe. Reducing spending needn’t harm South Africans, as many wasteful expenses can be removed. In 2023, the Democratic Alliance (DA) estimated that the African National Congress (ANC)-led departments wasted around R40 billion in 2022/23 alone.

Africa is making slow, steady progress towards energy security, which will only be enhanced through collaboration. Energy access is undeniably one of the most crucial components of modern day living. Reliable energy supply ensures that economies are growing by supporting critical industries like mining, manufacturing, agriculture, healthcare and education, while improving the lives of billions of people.

Let's face it: South Africa's power grid is not winning any awards for reliability. Our data centres are feeling the heat - and not in a good way. These digital powerhouses not only keep our online world spinning but are also fuelling the recent Artificial Intelligence (AI) revolution - yet their ever-expanding capabilities hinge on one critical requirement: an uninterrupted power supply.

In a significant move to strengthen the integrity of the Employment Tax Incentive (ETI) scheme, the government has proposed amendments to Sections 1(1) and 5(3) of the Employment Tax Incentive Act, No. 26 of 2013. The ETI, introduced in 2013, aims to encourage employers to hire young job seekers by reducing the cost of employment through a government-supported cost-sharing mechanism.

As disability or incapacity consultants, we are exposed to many individuals with physical and mental conditions, which impede their quality of life. In most cases, it is often an accumulation of factors that lead to an individual being plagued by illness.

Collaboration between government and business is vital to realising economic growth. Government should set up a conducive environment for businesses to operate while businesses ensure that they help grow the economy and employ citizens. This partnership must ensure that socio-economic goals are also met for the benefit of citizens.