This is a familiar pattern. International financial institutions socialise risk and privatise profit, while invoking development rhetoric to justify fossil fuel expansion in the Global South. Similar projects would be politically untenable in the Global North
The public confrontation between senior officials, the establishment of inquiries and the intense public debate surrounding the allegations all indicate that accountability mechanisms, although imperfect, are still functioning
Public budgets are unlikely to expand at the pace required to meet the escalating risks. A larger share of long-term capital will therefore need to come from private sources
If a commitment to youth-led initiative is to be taken seriously, it is imperative to include youth in decision making on where to direct investment, how to design curricula for skills training, which job markets to prioritise, including those that may not yet exist.
Zambia and Zimbabwe have each committed US$220 million to restarting the long-delayed $4.2 billion Batoka Gorge Hydropower Station near Victoria Falls
If the country is to move beyond crisis management, austerity must apply to all
As foreign banks retreat from the continent, local lenders are stepping up to fill the gap
The 99% are done waiting. Billionaire fortunes hit a record high and the G20’s effort on inequality has been deleted
As China enters a high-tech development era, Malawi positions itself to convert strategic partnership into industrial muscle, clean energy capacity and accountable governance
The controversial hirings have unsettled Malawi’s international partners, with funds critical for health, agriculture and infrastructure now at risk of suspension if donors conclude that accountability has been abandoned
For the economy to grow, it is imperative that the public and private sectors work together in a coordinated, transparent manner
In the past three years, Zambia has recorded a nearly 300% increase in international tourist arrivals, following the removal of visa fees
If the Department of State Policy Provisions Act is passed into law, the US will support Zimbabwe borrowing money from international lenders such as the World Bank
The state has tried the neoliberalism model in various forms for 31 years, and it has not worked
Endowed with a third of the world’s supply of them, the continent must push for actions that have the most benefits for its people
Thirty leaders from the continent met in Ethiopia to discuss a project to give 300 million people access to electricity
An international framework that prevents prolonged restructuring negotiations is required
But the financing models, which blend loans with private investments, could deepen African countries’ debt crisis
Among the truths is that most of the 17 sustainable development goals adopted by UN member states are doomed to fail
When the country takes over the presidency from Brazil in 2025, it should focus on reforming the global financial architecture
The party’s belief that the base pay should be phased out could scupper its coalition prospects
Thirty years since democracy, the country needs a radical shift to steer it out of stagnation
Plans like the one announced by employment and labour minister Thulas Nxesi won’t move the needle on joblessness
South Africa risks falling behind as much of the rest of the world embraces industrialisation to grow and protect economies
The new legislation stipulates jail terms of six months to three years for sex
Poverty doesn’t need to be the future for 8.2 million South Africans living on less than $2 or R38 a day
The Nordic model holds some insight into how to close South Africa’s yawning income and wealth gap
A report by treasury and the World Bank estimated the average funding gap for financing disaster response in South Africa at R2.3 billion
As two wars rage, the International Monetary Fund has warned that geopolitical fragmentation will hurt a still fragile global economy
To avert complete climate catastrophe, African countries need at least $277 billion per year in additional climate finance
The country’s biggest city will continue to grow as people seek jobs and a better life. But a ‘resentment’ towards urbanisation has prevented the government from unlocking its economic opportunities
A World Bank study has found that the pandemic put a strain on healthcare workers, which affected the health system