job creation - The African Mirror

Jan

14

2023

South Africa’s ANC alludes to greater central bank jobs focus

NEWS

KOPANO GUMBI SOUTH Africa's African National Congress (ANC) alluded to a greater focus on job creation by the country's central bank in resolutions from its recent national conference but stopped short of calling for its mandate to be changed. ANC officials have for years toyed with the idea of broadening the central bank's mandate as the governing party has struggled to lower the unemployment rate, which officially stands at 33% and is among the world's highest. The resolutions on economic transformation seen by Reuters on Friday said the South African Reserve Bank (SARB) should implement the monetary policy "in a balanced…

Job creation in South Africa: the president’s advisors discuss what it will take

SPECIAL FEATURES: ANALYSIS

AT the end of 2021, South Africa recorded its highest unemployment rate since the dawn of democracy, at 35.3%. The figure has marginally dropped but there is still concern about how the country will tackle this issue. Dori Posel spoke to Trudi Makhaya, economic advisor to South Africa’s President Cyril Ramaphosa, as well as Kenneth Creamer and Liberty Mncube, who are on the Presidential Economic Advisory Council, about unemployment, job creation, the informal sector and the country’s challenges with excessive market power. Author DORRIT POSEL, Professor in the School of Economics and Finance, University of the Witwatersrand Dori Posel: South…

Entrepreneur takes quality products to the township consumer

BUSINESS

TANYA McCLEAN TAKING the traditional stokvel business model to the digital level, reducing the cost of food for township communities and creating jobs - that's the win-win situation being implemented by owner of Thrift Online, Thabiso Mongane from Soweto. Mongane, who has a background in corporate banking, said that Thrift Online is a social commercial platform with the original goal being to target students and their grocery needs. The concept was simple, aggregate the student grocery demand and co-ordinate individual purchases into bulk purchases, making grocery shopping far more affordable for the student market. But then the Covid-19 pandemic hit…