Global Scans · South Africa · Weekly Summary

WHAT'S NEXT?: Local elections in South Africa this year could see the ruling African National Congress lose control of key cities like Johannesburg and Pretoria for the first time. South Africa's economy is at risk of falling into recession and public confidence in the ANC is falling.

• [New] South Africa, Egypt, Algeria, and Nigeria will remain the top four economies in Africa until 2030. Business Insider Africa
• [New] Ships are taking a detour around South Africa's Cape of Good Hope, adding up to 3,000 nautical miles to their journey. Unofficial Networks LLC
• [New] The digital modernization of South African mines is a significant shift towards the Fourth Industrial Revolution with mining companies creating value and envisioning the future of work as they mature digitally. IT News Africa | Business Technology, Telecoms and Star
• [New] The Constitutional Court's ruling in the case of Capitec Bank versus the South African Revenue Service will have implications for tax law in South Africa. IOL
• [New] Migrants risk their lives to travel through Kenya, Tanzania and other countries in Southern Africa in a bid to reach South Africa. UN News
• [New] The landscape of international business opportunities in South Africa, particularly in Cape Town and the Western Cape, is witnessing a significant transformation, driven by strategic investments from global technology giants. I by IMD
• [New] South Africa offers a wealth of infrastructure investment opportunities for foreign financiers, with the Development Bank of South Africa alone promoting a R70 billion project pipeline. Energy Capital & Power
• The proposed bill, now in the House of Representatives, makes the claim that the South African government has a history of siding with malign actors and will consider whether South Africa has engaged in activities that undermine US national security or foreign policy interests. BizNews.com
• Nigeria and South Africa receive preferential trade benefits through the U.S. African Growth and Opportunity Act. Carnegie Endowment for International Peace
• The State Department accused South Africa of falling for Russian propaganda and influence, as well as warning all African countries to remain wary of China's interests and overtures. DNyuz
• The South African Weather Services warned of cold temperatures, widespread rainfall, and potential flooding expected over parts of South Africa this weekend into early next week. SAPeople
• Unlike South Africans, Namibians generally do not have a heightened perception of threat, including in the digital realm. Carnegie Endowment for International Peace
• As the founding members of BRICS (Brazil, Russia, India, China, and South Africa) are significantly larger and more economically powerful than the other members, there is a risk that they could dominate decision-making and sideline the interests of smaller countries. Modern Diplomacy
• For international businesses, the burgeoning AI talent pool in South Africa and the Global South represents a frontier of opportunity. I by IMD
• For South Africa and its peers in the Global South, the unique opportunity to leapfrog into the forefront of the digital economy would transform economies, create jobs, and, most importantly, offer a pathway out of poverty for millions. I by IMD
• While South Africa has had limited GDP growth over the past few years, it remains the most industrialized economy on the African continent and still presents many opportunities for investors despite the economic challenges. Global Finance Magazine
• The combined maize exports from South Africa and Tanzania are unlikely to meet the regional demand, and some countries will likely have to source grain from East Africa (Uganda) and South America to fill supply gaps due to below-average regional grain supply. Fews Net
• South Africa has plenty of environmental laws but none that specifically oblige government officials to consider the risks and impacts of climate change when they approve new developments. The Conversation
• The antibiotic consumption will approximately double in the BRICS countries consisting of Brazil, Russia, India, China, and South Africa. PubMed Central (PMC)
• In South Africa alone, the hydrogen economy could add 3.6% to South Africa's GDP by 2050 and create over 370,000 jobs, as highlighted by the Ministry of Science and Innovation of South Africa at the Hydrogen Council's recent meeting in Johannesburg. Hydrogen Council
• In a significant move that could reshape global financial transactions, the BRICS countries (Brazil, Russia, India, China, and South Africa) are set to develop a unified payment system utilizing digital currencies and blockchain technology. Crypto Reporter
• Houthi attacks on commercial ships have led shipping companies to divert their routes away from the Red Sea, choosing instead the longer path around South Africa's Cape of Good Hope. Sucden Financial
• Four African countries alone-Nigeria, Ghana, Kenya, and South Africa - could rake in $136 billion worth of economic benefits by 2030 if businesses there begin using more AI tools. MIT Technology Review

Last updated: 23 April 2024