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Tag: south africa
AFRICANGLOBE - The lolly lounges of Eldorado Park, a coloured township south of Johannesburg, have become infamous for drugs, sex, rape and emotional abuse. The name “lolly lounge” is derived from the glass pipe used to smoke drugs like crystal meth and tik and is shaped like a lollipop.
At the end of 2014, there were approximately 46,800 high net worth individuals living in South Africa, with a combined wealth of US$184 billion. This equates to roughly 31% of South Africa’s total individual wealth. But who are the wealthy? Where do they live? How did thy make their money? We provide a list of 10 things we know about South Africa’s super rich.
AFRICANGLOBE - What is now embarrassing to us Blacks is that the persons who freed us from the colonial shackles of an oppressive and racist white regime have not only failed to improve the lot of the majority of the Black South Africans but actually have worsened their plight.
AFRICANGLOBE - What is Africa's most prosperous country? According to new research from the Legatum Institute, which last week ranked prosperity in 38 African countries around criteria ranging from economics to education to health, the title belongs to...
AFRICANGLOBE - President, Jacob Zuma says he has already answered the "pay back the money" question in terms of Nkandla. Zuma was responding to a written question by EFF leader Julius Malema in South Africa's National Assembly on Thursday.
AFRICANGLOBE - South Africa is headed for a major crisis because important plans for the country are beginning to unravel under poor leadership. “The time for diplomatic conversations in our society is over. I am going to be fairly blunt and frank about what I think is the challenge of South Africa in 2015,”
AFRICANGLOBE - Economists are divided. Some argue that a minimum wage will make workers too expensive and unemployment and destitution will rise. Others argue that higher pay scales will not only curb poverty but will boost consumption; and the benefits of an increased disposable income will extend more widely to salaried workers and their dependents.
AFRICANGLOBE - Patrice Motsepe is a man who quite literally struck gold. In 1997, when the gold market was close to its lowest in the last three decades, he started buying gold mines at favorable prices and later founded the first South African Black-owned mining company, African Rainbow Minerals.
AFRICANGLOBE - Catching older European rivals like lafarge and Heidelberg Cement on the hop – both are now desperately scrambling to invest in african production – Dangote Cement has the continent in its sights.
AFRICANGLOBE - Some of the most commonly asked questions on the economy and business are: How do big businesses and companies, small and medium enterprises thrive, reduce unemployment and poverty by creating jobs. In short, how does a country spur economic growth? Every time we try and answer these questions, more questions arise. The latest is how is South Africa going to create and grow Black industrialists?
AFRICANGLOBE - Why South African Blacks unleash their indignation against another fellow Black rather than share their wrath against all? This the question being asked by the continent as to how the red or white are spared but targeted the vulnerable Blacks of the same flesh and blood. South African Blacks are notorious for their xenophobia which only seem reserved for Black immigrants from the continent. It’s just more than xenophobia because, in retrospect, they only targeted and killed Black foreigners in South Africa.
AFRICANGLOBE - A recent report from the African Economic Outlook (AEO) presented five options for accelerating Africa’s transformation, and we look at each in turn, identifying the strengths and weaknesses of each strategy, and suggesting the countries that are best suited for each.
AFRICANGOBE - “I’m scared,” she told the paper. “In my daily life there’s no one else that I feel threatened by except Black people. If a courier comes to my door and he’s white, coloured or Indian, I’d have no problem inviting him in for a glass of water. But I would feel threatened by a Black man.”
AFRICANGLOBE - South Africa and Russia signed two memoranda of understanding on nuclear power cooperation on Wednesday, part of efforts by Africa's most advanced economy to lessen its reliance on coal and overcome power shortages that threaten economic growth.
AFRICANGLOBE - South Africa over the past 14 years has seen High Net Worth Individuals outflow of about 8,000. Another African that has seen a large outflow is Egypt with 7,000. “The main reason people apply for a second residence or citizenship is to ensure freedom of global mobility and access, as well as security and wealth protection for their families,"
AFRICANGLOBE - “Hunters are not violent people who like to kill,” said Meyeridricks. “Hunting is an experience that brings you closer to nature. You must know how to interpret the bush. You have to immerse yourself to the point of being part of the ecosystem.” Despite their efforts to explain their side of the argument, hunters are facing more and more pressure.
AFRICANGLOBE - There are many Bakoni ruins around the modern town of Machadodorp in South Africa’s Mpumalanga Province, most of them situated on the hills above the town. The slopes here are covered with terraces made from stone walls and forming a large complex that also consists of settlements, fields and roads. The ruins clearly prove that African agriculture, prior to the arrival of European colonialists, was far from being the rudimentary system the Europeans believed it to be.