Newsweek International 6/18-6/25/2021

1984 As the Simpson-Mazzoli bill, “a landmark proposal on immigration reform headed toward a showdown vote” in the House, Newsweek reported on “the nation’s ambivalent attitudes toward illegal aliens.” How to handle illegal immigration and create a pathway to citizenship for those who have been living in the U.S. remain thorny issues. They were symbolized in the last administration by President Trump’s border wall construction. Now President Biden is reversing of many of his predecessor’s policies even as he attempts to mange the overcrowding conditions caused by an influx of migrants. 1979 Alien was “the blockbuster hit of the summer—and it’s just the tip of the reign of terror that is seizing the country,” said Newsweek following a resurgence of horror movies as the “prestige product of big-budget Hollywood.” The genre…

The South African economy was severely impacted by the Covid-19 crisis, with its tourism and service sectors facing considerable external shocks in the wake of rolling lockdowns and extended international travel restrictions. But the country’s macroeconomic fundamentals remain solid. It is Africa’s most stable, modern, and well-diversified economy, and rising global inflation has seen demand for key exports surge in recent months. The National Treasury projects GDP growth will rise by more than 10 percentage points y-o-y in 2021 to hit 3.3%. Growth will be supported by an ambitious recovery plan focused on aggressive infrastructure investment, in partnership with the private sector, as well as ambitious new job creation schemes aimed at boosting skilled employment and further modernizing the industrial base. Recovery fund spending will underpin steady mid- and long-term…

South African agriculture is fast-emerging as a critical post-pandemic growth driver, underpinned by rising exports of high-value cash crops and increasingly innovative farming practices. Unlike many others on the continent, South Africa’s agriculture industry benefits from being modern, highly-diversified, and market-oriented. Agricultural exports are rising as the country exits the pandemic, growing by 3% in 2020 to hit $10.2bn, or 10% of total export receipts. Leading local firms like Senwes are driving this growth. One of South Africa’s biggest and oldest agricultural firms, Senwes’ history in the country is rich and deep. Its roots date back 111 years, and today the group serves the agriculture and food sectors from farmgate to mill door, with business units focused on investment, equipment, logistics, finance, market intelligence, and corporate support services. Francois Strydom,…

As the continent’s undisputed financial hub, South Africa has witnessed more than a decade of stellar banking industry growth following 2007’s global financial crisis. Retail banking holds particularly high potential, and McKinsey reports that this segment will soar in the future, with South Africa projected to account for the highest share of retail revenue growth in Africa, at least $4bn between 2017 and 2023. Innovative local players Finbond Group is already capitalising on rising consumer demand, but its business model has proved so successful that it is also being exported to bigger markets. Established in 2003, Finbond was an instant hit in South Africa. The group made a name for itself with a unique offering: value- and solutions-based financial services products designed with the client, rather than institutional needs, in…

South Africa has set its sights on a post-Covid recovery driven by new investments: domestic and foreign direct investment (FDI) inflows, in both mainstay and emerging industries. Having set a target of attracting $100bn of new investment between 2018 and 2023, the government is already making steady progress, with the United Nation’s Conference on Trade and Development reporting that total FDI stocks in the country rose by 19% y-o-y in 2019 to hit $151 billion. As it now sets its sights on modernizing the existing industrial base and kick-starting growth in future industries, the Industrial Development Corporation (IDC) will play an important role in driving development. IDC is a national development finance institution tasked with contributing to sustainable, economic growth in South Africa. It was established in 1940 in response…

After a bruising year of pandemic-induced economic shocks, the South African economy is poised for a strong rebound, with GDP set to rise by more than 10 percentage points this year. Its renewable energy sector will play a huge role in shaping the country’s post-Covid economy, and a global shift towards green energy and climate spending puts South Africa in a good position to benefit from rising American and European investment in renewables. Leading domestic energy investor Reatile Group is bracing for the boom. Established in 2003 as an investment holding company, Reatile Group is a major player in the South African energy sector. Its board and executive management have more than 200 years of combined experience in the energy and allied sectors, and the group boasts a proven track…