The Other Side Of Life
Did you ever wonder how the hell we got here? I have always had this thought in my mind what would life be like on the other side. Let us highlight a few significant milestones which I just happen to come across on.
The economy of Angola expanded by 2,2% year on year (y/y)in the fourth quarter after a 0,9% y/y gain in the third quarter.
Consumer inflation in Egypt rose to 10,5% y/y in March from 8,8% y/y in February, 7,3% y/y in January and 5,9% y/y in December.
The Egyptian Purchasing Managers Index (PMI) eased to 46,5 in March from 48,1 in February, 47,9 in January and 49,0 in December.
The Ghanaian PMI eased to 47,2 in March from 49,6 in February, 50,8 in January and 51,8 in December.
The Kenyan PMI eased to 50,5 in March from 52,9 in February.
Consumer inflation in Mauritius rose to 10,7% y/y in March from 9,0% y/y in February and 7,4% y/y in January.
Consumer inflation in Mozambique eased to 6,67% y/y in March from 6,84% y/y in February and 7,8% y/y in January.
The Mozambique PMI eased to 50,6 in March from 51,2 in February.
Consumer inflation rate in Rwanda rose to 5,6% y/y in March from 4,2% y/y in February and 1,3% y/y in January.
The Ugandan PMI eased to 51,9 in March from 55,7 in February, 54,9 in January and 51,5 in December.
Consumer inflation in Tunisia rose to 7,2% y/y in March from 7, percent in the prior month.
The Zambian PMI eased to 49,6 in March from 50,3 in February, 49,9 in January and 51,5 in December.
The central bank of Zimbabwe raised its benchmark lending rate by 200 basis points to a record 80%.
Back home in South Africa this is what I am fully attentive too.
President Cyril Ramaphosa lifted the national state of disaster on 4 April.
The trade surplus with the US narrowed to $369m in February from $614m in January and $1,036bn in December.
The South African Reserve Bank’s foreign exchange reserves rose by $470m in March to $43,864bn.
Government’s cash balances eased by R31m in March after rising by R26,5bn in February to R274,2bn and remained below the record of R377,945bn set in December 2020.
Penalties on early redemptions of RSA savings bonds dropped to R240m in March from R346m in February, R136m in January after surging to R743m in December from R150m in November and only R93m in April.
Eskom’s Energy Availability Factor (EAF) eased to 59,08% in week 13 from 59,97% in week 12.
The renamed S&P Global (IHS Markit) PMI rose to 51,4 in March after being steady at 50,9 in February and January from 48,4 in December and 51,7 in November.
Electricity consumption was flat y/y in February after easing by 0,2% y/y in January and a 2,3% rise in 2021.
Imports of electricity rose by 12,4% y/y in February after a 28,1% y/y gain in January and soaring by 42,3% y/y in December, while exports rose by 6,2% y/y after growing by 12,9% y/y and a 11,5% y/y gain.
The power supplied by non-Eskom producers accounted for 9,6% of total generation in February from 10,7% in January, 11,8% in December and a record 12,0% in November.
The Department of Mineral Resources and Energy on 6 April officially launched the sixth bid window (BW6) of the Renewable Energy Independent Power Producer Procurement Programme (REIPPPP).
Tractor sales by 4,9% y/y in March to 641 units.
Most parts of South Africa, specifically its summer rainfall areas, have received above average rainfall since October 2021.
Vedanta approved the R7bn doubling of production capacity at its Gamsberg zinc facilities in South Africa’s Northern Cape province.
The director-general of the National Treasury, Dondo Mogajane, will leave on 7 June when his contract expires.
Over R8bn is needed to restore South Africa’s sewage and wastewater facilities to basic functionality.
Now you are wondering what on earth is this all about, well to me it is about the little changes and improvements that are made. Many might disagree with my sentiment, I am no diplomat nor economist but when progressive strides are made or some level of improvement, then surely we should acknowledge that. Many might say that South Africa is a fucked up country due to its failing government, over sensitive race relations, widening inequality and devaluing currency. With that being said we do have some really sound institutions not to mention that are on the forefront of advancement and growth. To the many that agreed to leave this country for whatever reason(s) may be, by all means leave. We are not here to hold your hand nor guide you as you consider greener pastures. Remember that the grass might be greener on the other side, however it still requires loads of water. Before I point a finger at anyone for thinking anything worse of my beautiful country, I ask myself this, would I rather stay and build or would I rather leave and die elsewhere?
One reads in the sensationalised media about this and that and all other ills that makes South Africa fucked up. The worst part is listening to various engagements of what and how many perceive my beautiful country. It is so easy to fall into the trap and point out all the bad instead of the good and when something good happens we still give it more pushback. This type of behaviour also pops in many day to day lives whereby we have become so caught up in the bullshit that we no longer love ourselves.
The many that think my country is shit, well I am grateful for the progressive strides we make. I am happy that we boast the wonders of the world and the most spectacular wildlife nowhere seen anywhere else on earth. We also boasts the largest annual animal migration nowhere to be seen anywhere else on earth. The most diverse, natural and resource blessed continent of Africa and South Africa, the only country in the world literally named after the continent. To the ignorant folks that get fed wrong information and distorted media about Africa, history lesson, Africa is a continent with a multitude of African countries and South Africa is one of them. By the way we are also getting Bullet Trains in South Africa soon. Africa our time is now.
Sources used: Ecosa Weekly Economic Forecast, Netflorist Africa, www.greatsayings.net, South African Reserve Bank, Conservation Frontlines Botswana.
Disclaimer I do apologise for the use of profanity well in advance.
