Page 29 - Jonathan Katzenellenbogen News Today : Breaking News, Live Updates & Top Stories | Vimarsana

"Cabinet reshuffle was crisis-driven. But crisis will not drive reforms to boost economic growth and deal with unemployment."

26 May 2021 - Many countries have trade and industry ministers that either have commercial experience or, at least, have some understanding of business. Around the world this portfolio is often about defending the private sector’s corner in Cabinet meetings, as well as promoting investment and exports.

"We are stuck with economic consequences of Minister Patel, in the form of increasing costs for business and drop in competitiveness."

Insurgent attacks in the northern parts of Mozambique have claimed the lives of many, including one South African. A group with ties to the Islamic State has claimed responsibility for the attacks “that prompted thousands to flee Palma in the northern province of Cabo Delgado”, says Bloomberg. Martin Ewi of the Institute of Security Studies told BizNews editor-at-large Jackie Cameron about the attacks (listen below). “T he reason for this violent extremism in Cabo Delgado is that militants want to establish Sharia law in the region and in Mozambique.” Jonathan Katzenellenbogen writes ...

It would seem that Denel, South Africa’s state-owned aerospace and military tech company, is heading the same way as other SOEs. ‘In the financial year ending in 2020 its losses were R1.9bn, mainly due to rising operating costs, which is often a sign of high management overheads’, writes Jonathan Katzenellenbogen. He adds that the last time the company made a profit was in 2016/17, ‘R282m, which amounted to about 3.5 percent of sales’. Financial issues has seen some of Denel’s highly qualified employees pack their bags, seeking work elsewhere. According to Katzenellenbogen, this i...