October 14, 2024.

For Creamer Media in Johannesburg, this is Polity’s daily podcast

Making headlines:

Politicians pay tribute to 'committed leader' Tito Mboweni

Ramaphosa believes SA heading in the right direction under GNU

And, World Bank cuts 2024 growth forecast for sub-Saharan Africa over Sudan

Politicians pay tribute to 'committed leader' Tito Mboweni

Fellow politicians of former Reserve Bank Governor and Labour and Finance Minister Tito Mboweni have described him as an activist, a steadfast opponent of corruption and a committed leader.

This after news of Mboweni’s death on Saturday following a short illness. He was 65 years old.

President Cyril Ramaphosa said Mboweni’s death came as a shock “given his sense of vitality and energetic and affable engagement with fellow South Africans”.

Democratic Alliance national spokesperson Karabo Khakhau said Mboweni’s legacy in South African politics was long and significant, describing him as a steadfast opponent of corruption and noting that he consistently championed fiscal responsibility.

The Inkatha Freedom Party said Mboweni was instrumental in fostering national reconciliation, social cohesion and dignity in the work space through labour law reforms.

Economic Freedom Fighters leader Julius Malema saluted Mboweni for his contribution in the struggle against apartheid and the many strategic institutions and departments he led, noting that Mboweni was never accused of any corruption or maladministration.

Ramaphosa believes SA heading in the right direction under GNU

President Cyril Ramaphosa said that widespread support for the seventh administration, made up of 11 political parties, and the continued reform agenda, has contributed to the improvement in sentiment of South Africa’s trajectory.

In his weekly letter to the nation, he reflected on the Government of National Unity’s first 100 days in office and said that the positive sentiment was supported by actual progress in addressing some of the country’s most pressing economic and social challenges.

He said nowhere has this been more evident than in the work done to resolve the energy crisis. The country has had more than 200 days without loadshedding.

He said this has also unlocked unprecedented levels of investment in the energy sector.

Ongoing reforms in the logistics sector are also improving the operational performance of port and rail networks, he added, which he said would positively impact export industries and broader economic activity.

World Bank cuts 2024 growth forecast for sub-Saharan Africa over Sudan

The World Bank said it had lowered its economic growth forecast for sub-Saharan Africa this year to 3% from 3.4%, mainly due to the destruction of Sudan's economy in a civil war.

However, growth is expected to remain comfortably above last year's 2.4% thanks to higher private consumption and investment, the bank said in its latest regional economic outlook report, Africa's Pulse.

Chief economist for the Africa region at the World Bank Andrew Dabalen said this is still a recovery that is basically in slow gear.

The report forecast next year's growth at 3.9%, above its previous prediction of 3.8%.

Moderating inflation in many countries will allow policymakers to start lowering elevated lending rates, the report said.

That’s a roundup of news making headlines today

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