JurisTax’s Post

South African Economic Performance 2024 Q3 South Africa's economy contracted by 0.3% in Q3 2024, with agriculture plummeting 28.8%. However, manufacturing and finance sectors showed resilience, keeping the outlook steady. Consumer demand & high prices remain challenges, while 2024 growth is forecasted at a modest 0.7%. Policy clarity & structural reforms are critical to unlocking growth. Discover more: https://shorturl.at/OSdMJ #SouthAfrica #Economy #Agriculture #Finance #Manufacturing #EconomicGrowth #BusinessConfidence #PolicyReforms #Q3Update

South Africa secures the fourth spot as one of the most attractive investment destinations in Africa, as highlighted in Rand Mutual Bank’s (RMB’s) recent Where To Invest In Africa 2024 report. The continent offers diverse investment opportunities, each with unique demographics, wealth distribution, and operational frameworks. With 31 countries analyzed, the study aims to bridge the information gap for investors, shedding light on the varying macroeconomic climates across Africa. Investing in Africa proves to be a strategic move, tapping into flourishing sectors and abundant untapped resources. Discover the spectrum of investment possibilities, from high rewards to potential risks, within this dynamic and evolving market.

The economic landscape of Africa is diverse, but East Africa is emerging as the standout subregion, boasting the highest rate of economic growth in 2024. Key highlights from the recent World Bank report include: Robust Growth: The East African Community (EAC) has outperformed other subregions, achieving a growth rate of 4.7% in 2024, with projections reaching 5.7% for 2025–2026. Kenya's Prominence: Kenya is at the forefront, with its economy expected to grow 5% in 2024 and 5.1% in the following years. The Kenyan Shilling has rebounded impressively, appreciating 21% year-to-date by August 2024. Sectoral Recovery: Key sectors, particularly tourism and agriculture, are driving economic activity as improved macroeconomic conditions support private consumption and investment. Sub-Saharan Outlook: Growth is projected to surge in approximately 60% of Sub-Saharan African nations, highlighting a broader trend of recovery across the continent. As East Africa navigates these promising economic conditions, it sets a precedent for resilience and growth in Africa's economic landscape. At Fantein, we leverage data-driven insights to support businesses in adapting to these evolving market dynamics. Let's connect to explore opportunities together! WE KNOW AFRICA #EastAfrica #EconomicRecovery #Kenya #EAC #WorldBank #BusinessInsights #Fantein #WeKnowAfrica

Did you know that Africa is home to some of the fastest-growing economies in the world? 🌍 The continent's diverse economic landscape presents both immense opportunities and unique challenges. Let’s dive into the economic dynamics across Africa! Africa: GDP Over Time 🔸 Africa’s GDP growth is fueled by a mix of natural resources, agricultural production, and emerging service sectors. 🔸 Different regions within Africa, from the resource-rich nations in the north to the rapidly growing economies in the east, show varied economic development patterns. Key Components of GDP: Northern Africa: ✅ Natural Resources: Significant contributions from oil, gas, and minerals. ✅ Tourism: Major driver, especially in countries like Egypt and Morocco. ✅ Government Expenditure: Investments in infrastructure and social services. ✅ Trade: Strong export relationships, particularly with Europe and Asia. Sub-Saharan Africa: ✅ Agriculture: Major sector, employing a large portion of the population. ✅ Service Sector: Rapid growth in telecommunications, banking, and retail. ✅ Government Expenditure: Focus on development projects and social programs. ✅ Foreign Investment: Increasing foreign direct investment, boosting economic growth. Challenges: Northern Africa: ⚠️ Political Instability: Can affect economic stability and growth. ⚠️ Dependence on Natural Resources: Vulnerability to global price fluctuations. ⚠️ Youth Unemployment: High rates of unemployment among young people. Sub-Saharan Africa: ⚠️ Infrastructure Development: Needs substantial improvement to support growth. ⚠️ Poverty: Significant portions of the population still live in poverty. ⚠️ Health Challenges: Public health issues can impact economic productivity. The diverse economic landscapes within Africa present both opportunities and challenges. By addressing these issues and leveraging their strengths, African countries can drive sustainable growth and ensure long-term prosperity for their citizens. I have created an extensive article on this topic for those who want to dive deeper into the GDP comparison across Africa. See this link for additional information: https://lnkd.in/eBgWvF9F #analysisskills #datascientists

Africa’s economic future is bright.

🚀💼 East Africa's Economic Landscape: A Glimpse into Ethiopia and Kenya's Resilience and Growth in 2024 🌍 #eastafricaeconomy #economicresilience #growthoutlook Despite facing challenges such as inflation and internal conflicts, Ethiopia and Kenya are poised for economic recovery and growth in 2024, showcasing the resilience of East Africa's economy. Investments in infrastructure, tourism, and the liberalization of the financial sector in Ethiopia, alongside Kenya's agricultural and service sector enhancements, are key drivers of this positive trend. Both countries' focused efforts on structural reforms and fostering a conducive investment climate signal a promising future, underpinning a cautiously optimistic outlook for their economies. #investInafrica #economicreform #sustainablegrowth 📖 Full read here: https://lnkd.in/ddB6uEQp

As is set for the United Nations Economic Commission for Africa (ECA) Subregional office for Southern Africa (SRO-SA organised expert session on Unlocking Economic Growth: Strategic Development of Special Economic Zones in the SADC Region: scheduled Wednesday 31 July 2024, 14:00hrs- 16:00hrs, Rainbow Towers Hotel, Saphire Room on the sidelines of the the 7th #SADC Industrialization week. The development of Special Economic Zones (SEZs) is one of the strategic tools being employed by regional member States towards supporting inclusive industrialization for job creation and poverty and inequality reduction. Although SEZs have diverse characteristics and have been called differently in diverse jurisdictions – export processing zones, industrial parks, free trade zones, etc their key defining elements include being a distinct and demarcated geographical area under a unique regulatory regime different from the rest of the economy, most often with specially configured customs and fiscal rules, foreign ownership rules, access to land and employment rules and the guaranteed availability of infrastructure support. The session will focus on special economic zones as a tool to support industrial growth and development. Experiences from selected member States will be shared to provide insights into how countries can effectively anchor industrial development on this strategy. Deliberations will also explore the development of transboundary special economic zones as anchors of development. #SEZs #economicgrowth #industrialisation #cleanenergy #mineralvaluechains #regionalintegration #economictransfomation SADC Secretariat Confederation of Zimbabwe Industries Eunice G. Kamwendo Olayinka Bandele Coega Development Corporation https://lnkd.in/dQ4QC976

[TOP STORY] Botswana’s economy could shrink 1.7% this year, the first contraction since the COVID-19 pandemic, mostly because of a prolonged downturn in the global diamond market, finance minister Ndaba Gaolathe said. Read more: https://lnkd.in/dgSz5bgr #CNBCAfrica #DSTV410 #botswana #economy #covid19 #diamondmarket

Demand for housing in Africa to create $1.4trn investment opportunity by 2050 Akinwumi Adesina, president of the African Development Bank (AfDB), says Africa presents a unique investment opportunity that cannot be ignored. Adesina spoke at the opening ceremony of the 2024 Africa Investment Forum (AIF) Market Days Wednesday in Rabat, Morocco. Highlighting Africa’s potential, he said the continent’s food market is expected to grow to $1 trillion by 2030, and demand for infrastructure presents an annual investment opportunity of at least $170 billion. “Africa presents such a unique investment opportunity which cannot be ignored. Don’t just believe me, believe the data,” he said. “The New York Times said that the world is becoming more African, as 1 out of 4 people in the world by 2050 will be African. “The continent’s population will double to reach 2.4 billion by 2050. That will be the same size as the combined population of China and India today. “Population is destiny. Africa will brim with unparalleled demand for consumer goods and services, digital services, as well as housing, with the demand for housing expected to rise to an investment opportunity of $1.4 trillion. Seedufy Multibusiness Limited as a leading key player in the African real estate sector seeks to explore this huge $1.4 trillion investment opportunity through the provision of strategic premium affordable mass housing hostel units to combat the ever raising housing deficiency facing Africa. Part of the companies mid-term objectives is aimed at harnessing this $170 billion annual investment opportunity by forging solid investor relationships with Renowned world investors, Entrepreneurs, Stakeholders, Global leaders and key players for the purpose of sustainable wealth creation. #AFRICANDEVELOPMENTBANK #AFRICAINVESTMENTFORUM #SEEDUFYWEALTH #REALESTATE #AFRICA