Cabinet reshuffling in South Africa: Any lesson for Nigeria?

Proshare

Friday, May 31, 2019   / 4:00PM / United Capital Research  / Header Image Credit: USAfrica

 


South Africa’s President - Cyril Ramphosa recently announced the list of his cabinet members-50% of which were women and youth.  This came three weeks after his re-election on the 8th of May 2019, as the government prepares to bolster growth in the country’s economy over the next 5 years.

Worried about faltering economic momentum, energy sector crisis, high unemployment rate, a wide income inequality, and rising debt burden, the IMF is projecting growth at 1.3% in 2019. Thus, a swift appointment of cabinet members by the S/African President is a move to hit the ground running while hastening the implementation of the badly needed reforms required to salvage the ailing economy.

Juxtaposing the above with his Nigerian counterpart, a swift cabinet formation by the S/African President is a sharp contrast to a perceived delay in the announcement of his cabinet member by Nigerian President, who opted to postpone his inauguration speech, to June 12th, 2019.

With economic challenges in both the S/African and Nigerian economy showing signs of similarities, hitting the ground running with its policy programs & cabinet appointments would be a low hanging fruit for the Nigerian authorities to boost Growth in the Sub-Sahara Africa economy (alongside S/Africa) which continued to underperform since 2016 amid weaker growth in the two largest economies in the region. 

 

 

Top African Stories

Rwanda's bank of Kigali in talks to buy local insurance company Sonarwa - bank CFO: Bank of Kigali, Rwanda’s biggest lender by assets, is in talks to buy local insurance company Sonarwa, the bank’s chief financial officer said. Reuters

 

Total to hold talks with Algeria over Anadarko assets: Total will meet Algerian authorities for talks over its plans to buy Anadarko’s assets in the country and is not worried by media reports that Algiers would block the deal, Chief Executive Patrick Pouyanne said on Wednesday. Reuters

 

Egypt's M2 money supply growth slows to 11.33% y-o-y in April -c.bank: Egypt’s M2 money supply growth slowed in April to an annual 11.33% from 11.39% in March, data from the central bank showed on Thursday. Reuters 

 

World Bank approves $750 mln loan for budgetary support to Kenya: World Bank has approved a $750 million loan for budgetary support to Kenya, notably in agriculture and housing, the bank said in a statement. Reuters

 

Room for Kenya to borrow has shrunk, it needs to fix this – Central bank chief discusses: Kenya’s headroom for new borrowing has shrunk since it tapped the Eurobond market this month and it is time for the country to begin reorganising its debt, central bank governor Patrick Njoroge said on Tuesday. CNBC

 

 

Looking Forward

 

South Africa

Q1-19 GDP QoQ/ YoY– June 4th/5th

 

Tunisia

May-19 (CPI) Inflation - June 3rd - June 10th 

 

Visit African Markets in Proshare MARKETS


 Proshare Nigeria Pvt. Ltd.


 Proshare Nigeria Pvt. Ltd.

 

Proshare Nigeria Pvt. Ltd.

 


 

Related News

1.       The USA-ChinaTrade War – A Ploy To Colonise China?

2.      BMW, Daimler Most at Risk of US Tariff Rise, China Reprisal

3.      New Tariffs Would Signal Prolonged US Corporate Headwind

4.      African Countries: Taking the Easy Way Out?

5.      Emerging Market Demand Responsive to Global Financing Conditions – Fitch

6.      Tough Economic Lessons From Ghana

7.      Banks in AAA Jurisdictions Face Rising Household Debt Risk

8.     South Africa’s Credit Rating Postponement: A breather?

9.      Global Trade Growth Slows Down To 3.3% In 2018

10.  Minutes Of The Federal Open Market Committee, January 29-30, 2019 - Key Takeaways

11.   Eurozone 2019 Growth Forecast Cut to 1%; ECB Could Restart QE

12.  Open-Ended Bond Funds a Potential Risk to Financial Stability - Fitch


Proshare Nigeria Pvt. Ltd.

READ MORE:
Related News
SCROLL TO TOP