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President Cyril Ramaphosa delivered his second State of the Nation Address (SONA) on 20 June. The speech was filled with rousing language as well as conciliatory offers to work together with members of the opposition. Unfortunately, no new details of his ostensible reform agenda were released, including details of how his dream for South Africa will come about.
Citing seven priorities, President Cyril Ramaphosa pledged to restore the National Development Plan to its place at the centre of our national effort, to make it alive and to make it part of the lived experience of the South African people.
When young Americans grow up, rarely do you hear them being excited about going to study in Europe when they leave school. Why would they be? They have world-class universities and immense opportunities at home. It is not uncommon, however, to speak to young South Africans who are keen to leave this country either for extended periods or indefinitely.
Cryptocurrencies, such as Bitcoin and Ethereum, have become well known for their volatile value. In contrast to this, 'stablecoins' are cryptocurrencies that have been specifically designed to have a stable value.
Stats SA’s April Statistics of Liquidations and Insolvencies paint a very grim picture. The number of business liquidations increased by 53.1% between April 2018 and April 2019. The number of insolvencies increased by 30.1% between March 2018 and March 2019.
The first quarter GDP growth of 2019 for South Africa announced 4 June, and it is once again a negative number. The numbers are showing that the South African economy contracted 3.2% year on year, following a 1.4% growth in the previous period. It was the sharpest decline in the GDP since the first quarter of 2009, as output declined sharply in manufacturing, mining, agriculture and utilities.
tructural reforms urgently needed as annual growth drops to 0% y-o-y. Statistics South Africa (StatsSA) reported on June 4 that the South African economy contracted by 3.2% quarter-on-quarter (q-o-q) during the first quarter of 2019 – the biggest decline in 10 years.
With these words, in front of a crowd of thousands, which included, former and current heads of state and other dignitaries, President Cyril Ramaphosa took the oath of office as president of South Africa, “I, Matamela Cyril Ramaphosa, swear that I will be faithful to the Republic of South Africa and will obey, observe, uphold and maintain the Constitution and all laws of the Republic.”