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In Key African Nations, Widespread Discontent With Economy, Corruption

In South Africa and Nigeria – sub-Saharan Africa’s two largest economies – economic sentiments have turned sharply negative since 2015, according to a new Pew Research Center report.

Around seven-in-ten South Africans and Nigerians now say their economies are in bad shape. In the East African economic hub of Kenya, the report finds, just over half say the same. And large majorities in all three countries consider the lack of employment opportunities a very big problem. 

Just over a year ago, the United Nations agreed to an ambitious agenda for bettering the lives of people around the world – the Sustainable Development Goals (SDGs).

The SDGs call for countries to improve across 17 issue areas, including economic growth, accountable institutions and reduced inequality, among others. While the target for achieving the SDGs is not until the year 2030, the publics in Kenya, Nigeria and South Africa are increasingly concerned about some key development issues.

At the same time, they express considerable optimism about the future. 

Still, many believe the political and economic system is stacked against them. Political corruption – seen by many experts as a key stumbling block to a country’s development – is a major public concern.Broad majorities in all three countries name government corruption as a very big problem.

Most South Africans, Kenyans and Nigerians believe that government is run for the benefit of only a few groups of people in society. Perhaps most troublingly, only around a third of South Africans and Kenyans say government corruption will be less of a problem in their countries when today’s children grow up. Nigerians are more optimistic that there will be less corruption in the future – 60% expect things to improve. 



In the economic realm, most see rewards and opportunities going primarily to those at the top. Majorities in all three nations say the gap between rich and poor has increased over the past five years. And when asked why so many people lack jobs in their country, the top reason given is that many jobs go only to people with connections. 

Despite these concerns, there is considerable optimism about the future across the three nations surveyed.

At least six-in-ten in each country say health care and education – two key issue areas that are highlighted by the SDGs – will be better for the next generation. And even though their views about the current state of the economy are negative, most are upbeat about the short-term economic future: Majorities in Nigeria, South Africa and Kenya believe their countries’ economies will improve in the next 12 months.

Moreover, roughly three-in-four Nigerians, Kenyans and South Africans believe that young people today who want to live a good life should stay in their countries rather than move abroad. 

These are among the key findings of a new Pew Research Center survey, conducted in South Africa, Nigeria and Kenya among 3,330 respondents from March 29 to July 9, 2016. Additional key findings in the report include:

South Africa: South Africans are more dissatisfied with the way things are going in their country in 2016 than they were at any time the question was asked in the past eight years.

Whereas South Africans were split on their country’s direction in 2014 (47% satisfied, 49% dissatisfied), 74% now say they are unhappy with the way things are going and only 24% are satisfied. The poor state of the economy may be one driver of the souring mood in South Africa. A large majority (70%) describes the economy as bad, with 45% saying it is very bad. 

Kenya: While Kenyans are generally optimistic about the future, they still say a range of development issues pose serious challenges for their country today.

At the top of the list, with at least eight-in-ten Kenyans saying each is a very big problem, are government corruption (91%), economic issues such as a lack of employment opportunities (87%) and poverty (86%), and crime (82%). 

Nigeria: Poverty is the top issue for Nigerians, with 93% saying it is a very big problem in their country.

Energy shortages (e.g., blackouts or fuel scarcity), crime, government corruption and a lack of employment opportunities round out the top five concerns, with roughly nine-in-ten citing each as a very big problem. Over the past year, there have been food shortages in northern Nigeria and concerns about this issue have risen since our 2015 poll.

Lack of public participation in politics was the only issue tested not viewed as a very big problem by a majority of Nigerians. 

Models for Development: When South Africans, Nigerians and Kenyans are asked about the best example of an economically developed country, they tend to cite the U.S. and China.

And when asked what makes the U.S. or China the leading model for development, many respondents note the economic opportunities and growth in the two nations. Beyond this, however, people provide very different rationales for what makes the U.S. or China the best example. Respondents who name the U.S. tend to focus on American governance, citing good leadership and low levels of corruption, as well as education, as reasons why the U.S. is economically successful.

People who think China is the best example of an economically developed nation attribute this to Chinese technology, as well as the country’s manufacturing and exports and its work ethic. 

Pew Research Center is a subsidiary of The Pew Charitable Trusts, its primary funder. This report was made possible by The Pew Charitable Trusts, which received support for the survey from the Bill & Melinda Gates Foundation.y7

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China’s GDP expands 3% in 2022 despite various pressures

2nd February 2023
China’s Gross Domestic Product (GDP) expanded by 3% year-on-year to 121.02 trillion yuan ($17.93 trillion) in 2022 despite being mired in various growth pressures, according to data from the National Bureau Statistics.

The annual growth rate beat a median economist forecast of 2.8% as polled by Reuters. The country’s fourth-quarter GDP growth of 2.9% also surpassed expectations for a 1.8% increase.

In 2022, the Chinese economy encountered more difficulties and challenges than was expected amid a complex domestic and international situation. However, NBS said economic growth stabilized after various measures were taken to shore up growth.

Industrial output rose 3.6% in 2022 over the previous year, while retail sales slightly shrank by 0.2% data show that fixed-asset investment increased 5.1% over 2021, with a 9.1% hike in manufacturing investment but a 10% fall in property investment.

China created 12.06 million new jobs in urban regions throughout the year, surpassing its annual target of 11 million, and officials have stressed the importance of continuing an employment-first policy in 2023.

Meanwhile, China tourism market is a step closer to robust recovery. Tourism operators are in high spirits because the market saw a good chance of a robust recovery during the Spring Festival holiday amid relaxed COVID-19 travel policies.

On January 27, the last day of the seven-day break, the Ministry of Culture and Tourism published an encouraging performance report of the tourism market. It said that domestic destinations and attractions received 308 million visits, up 23.1% year-on-year. The number is roughly 88.6% of that in 2019, they year before the pandemic hit.

According to the report, tourism-related revenue generated during the seven-day period was about 375.8 billion yuan ($55.41 billion), a year-on-year rise of 30%. The revenue was about 73% of that in 2019, the Ministry said.

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Jewellery manufacturing plant to create over 100 jobs

30th January 2023

The state of the art jewellery manufacturing plant that has been set up by international diamond and cutting company, KGK Diamonds Botswana will create over 100 jobs, of which 89 percent will be localized.

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Investors inject capital into Tsodilo Resources Company

25th January 2023

Local diamond and metal exploration company Tsodilo Resources Limited has negotiated a non-brokered private placement of 2,200, 914 units of the company at a price per unit of 0.20 US Dollars, which will provide gross proceeds to the company in the amount of C$440, 188. 20.

According to a statement from the group, proceeds from the private placement will be used for the betterment of the Xaudum iron formation project in Botswana and general corporate purposes.

The statement says every unit of the company will consist of a common share in the capital of the company and one Common Share purchase warrant of the company.

Each warrant will enable a holder to make a single purchase for the period of 24 months at an amount of $0.20. As per regularity requirements, the group indicates that the common shares and warrants will be subject to a four month plus a day hold period from date of closure.

Tsodilo is exempt from the formal valuation and minority shareholder approval requirements. This is for the reason that the fair market value of the private placement, insofar as it involves the director, is not more than 25% of the company’s market capitalization.

Tsodilo Resources Limited is an international diamond and metals exploration company engaged in the search for economic diamond and metal deposits at its Bosoto Limited and Gcwihaba Resources projects in Botswana.  The company has a 100% stake in Bosoto which holds the BK16 kimberlite project in the Orapa Kimberlite Field (OKF) in Botswana.

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