Tag Archives: World Bank

SA improves in World Bank Doing Business Report 2012


Doing Business 2012: Doing Business in a More Transparent World assesses regulations impacting on domestic businesses in 183 economies and ranks the economies in 10 aspects of business regulation, including starting a business, dealing with insolvency and trading across borders. This year’s report data cover regulations assessed from June 2010 through May 2011. The report rankings on ease of doing business have broadened to incorporate indicators on getting electricity. The report confirms that obtaining an electrical connection is most efficient in Iceland; Germany; Taiwan, China; Hong Kong SAR, China; and Singapore.

The ease of conducting business in South Africa advanced one place this year to rank 35 out of 183 economies. South Africa made starting a business less complicated by enacting the new Companies Act in April, as reported by the World Bank and the International Finance Corporation’s in the “Doing Business 2012: Doing Business in a More Transparent World”.

Morocco improved its business regulation by far the most when compared to other global economies, ascending 21 places to 94, by simplifying the construction permitting process, reducing the administrative burden of tax compliance, and offering increased protections to minority shareholders.

The new Company Act legal guidelines removed the requirement to reserve a company name and simplified the incorporation documents. Transferring property was made cheaper and a lot more efficient by lowering transfer duty and properly introducing electronic filing.

The report identified that South Africa in addition introduced a new reorganisation process to assist rehabilitate financially distressed companies. Throughout sub-Saharan Africa regulatory reform has been broadening, with 13 economies carrying out reforms to make it simpler to do business in three or more areas, the World Bank said.

The leading five economies where doing business was easiest were Singapore, Hong Kong, New Zealand, the United States, and Denmark.

 

 

 

South Africa considerably improved substantially in the starting a new business category, moving up from 74 last year to 44. It now required five procedures to start a business, one fewer than the year before, and 19 days, compared with last year’s 22 days. Furthermore there had also been long-term change for the better, as in 2004 it took nine procedures and 38 days to start a business.

With respect to the ease of registering property, South Africa moved up 14 places coming in at 76 this year. “Registering property requires six procedures, takes 23 days and costs 5.6% of the property value,” as stated by the report.

Addressing construction permits retained its rank over the two years at 31. “Based on data compiled by Doing Business, addressing construction permits demands 13 procedures, takes 127 days and costs 21.2% of income per capita,” the report uncovered.

South Africa shared 1st place with United Kingdom when it comes to the ease of obtaining credit. It was ranked 10th for safeguarding investors, the same place as last year.

Enforcing contracts advanced from 85 to 81 and resolving insolvency likewise gained ground from 79 to 77.

In spite of this, when it came to receiving electricity for new buildings, South Africa’s ranking fell from 122 to 124. This was worse than the sub-Saharan regional average ranking of 122. Mauritius claimed 44th place in getting electricity, Botswana was 91, Namibia 105, and Kenya 115, all ahead of South Africa.

SA lapsed from 18 to 44 in the ease of paying taxes. “On average, companies make nine tax payments a year, spend 200 hours a year filing, preparing and paying taxes and pay total taxes amounting to 24.4%,” the World Bank said.

 

To view Global RankingsClick here

 

Source: doingbusiness.org

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All new geopolitical period for Africa with SA in Brics

South Africa’s addition to the Brics comes with added new geopolitical relevance for the continent, proclaims International Relations Minister Maite Nkoana-Mashabane.

Brics – the formidable collection of emerging trading markets Brazil, Russia, India and China, along with SA being the most recent member – is without a doubt acquiring and maintaining muscle amid international investors, and in addition the African continent will as a result reap some benefits as a result of a greater depth of cooperation in a variety of areas.

Briefing mass media following on from the Sanya summit, Nkoana-Mashabane proclaimed Africa in its entirety would most likely reap the benefits of South Africa being a member of Brics, specifically in areas which include economic integration, trade and investment and improving good governance.

“Our fortunes [as African countries] are generally connected. As much as we did not approach the AU to seek out a mandate to join Brics, SA diplomats speak out for the well being of SA as well as the African continent in general,” Nkoana-Mashabane told a media briefing.

Nkoana-Mashabane stated with the continent accepted as a developing region, Africa can certainly anticipate to reap some benefits economically in areas which include agriculture, infrastructure, IT as well as assist Africa to benefit as a result of a great deal more equitable world governance bodies.

She pointed out that Brics’ drive for the reform of the global institutions of governance as well as the UN will assure that African issues enjoy centre-stage in deliberations within the UN Security Council, the IMF and World Bank.

President Jacob Zuma

The meeting, which contributed to bringing together the five fastest growing economies, contributed to a statement being issued by Brics elaborating on their vision for common development and shared prosperity, as well as put forward several new campaigns for global economic governance.

The three-day get together, that concluded on Friday, additionally called for the swift achievement of the targets for the reform of the International Monetary Fund accepted during the recent G20 summit, and reiterated that the governing structure of the international financing institution should preferably mirror the changes in the world economy.

The leaders promised to support the change and improvement in international monetary systems for the creation of a stable, reliable and broad-based international reserve currency system.

The five Brics nations made a decision to hold another meeting of high-level representatives later this year in China to talk about security issues, embark on joint research on economic and trade issues, promote cooperation in sports and encourage collaboration in scientific, technological and innovation cooperation.

Source: BuaNews, csmonitor.com, thenewage.co.za, news4u.co.in,

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World Bank: African economy growing

Africa’s overall economy is without a doubt on the right track and may even come up with a quicker financial recovery from the recession when compared to the US. This is based on the World Bank’s Global Economic Prospects report for 2011.

The report, released in mid-January, forecasted that sub-Saharan Africa would most likely improve its gross domestic product (GDP) from 4.7% in 2010 to 5.3% for this year. That number might possibly be bumped upwards to 5.5% in 2012.

The report in particular mentioned that price levels in metals, minerals and oil, along with more significant investment in manufacturing and telecommunications companies, have definitely contributed towards the growth.


As indicated by Phumelele Mbiyo, Standard Bank’s Senior Africa Strategist for Global Market Research, the numbers suggest that economic activity, particularly in relation to mining and construction, is without a doubt growing in the region.

“The reason behind this type of increase is simply because prices for commodities are fairly high and they have enticed investment, in particular from emerging markets such as China,” he said.

Mbiyo is convinced an average person would most likely reap the benefits of these types of optimistic forecasts, as companies have the desire to seek the services of locals.


“There has already been increased employment of locals within the mining and construction industries. There is certainly destined to be a considerable amount of employment in future, primarily by European and American based companies who have invested heavily in mining in Africa.”

High continental growth

Having said that, the report pointed out the fact that the best growth rates were not necessarily to emerge from South Africa, the region’s traditional economic hub. Rather, the greatest figures originated from countries such as Nigeria, Angola, Kenya, the Republic of Congo, Ethiopia, Mozambique, Botswana, Zambia, Malawi, and Tanzania.

South Africa has been projected at 3.5% for 2011 in contrast to other countries from the other countries in the region were believed to grow at an average of 6.4% for the same year.


Mbiyo outlined that this is simply not for the reason that South Africa’s growth is slowing down, but instead for the reason that other countries are beginning completely new industries now not to mention coming from a low base whereas South Africa had already established exactly the same industrial sectors years ago.

“Angola is set to grow by 7% on average whereas Ghana will average 13% over the following two years. Simply because the latter is beginning to supply oil,” said Mbiyo.

He added that Africa should really at this time concentrate on sustaining growth mainly because the continent continue to lags behind other major developing and developed economies.

Source: mediaclubsouthafrica.com,

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How 1Goal made a difference at the UN

The UN Millennium Development Goals Summit came to a close last week. There’s still a lot to sort through from the negotiations and announcements, but a few key facts are already clear.

Firstly, thanks to your help we have made some important strides towards guaranteeing every child the education they deserve. New pledges from several governments including Australia alongside pledges from the World Bank mean a likely increase in aid to primary education by around $700 million a year for the next 5 years.


Because of what happened last week over 4 million more children could have the opportunity to go to school for the first time. That’s more than the number of primary school children in London, New York and Paris combined – a great result for all of us that have called for action on Education for All this year.

Secondly, it’s clear much more must be done. With too few countries keeping their promises millions of children will still be denied the chance in life that an education brings. Several countries have indicated they will release their plans in a few months time. Our work must go on and we need to use these new announcements to throw down a challenge to other donors to come forward in the coming months.

Lastly, we want to say thank you for your support so far. There’s no doubt that the voices of the millions in the Global Campaign for Education’s 1GOAL campaign were heard — and you made a difference:

http://www.join1goal.org/news_intern.php?page=1&NewsID=135

On Monday, you helped set the tone for the entire summit. In less than 24 hours, 1GOAL supporters sent in thousands of personal stories and messages calling for urgent action on education. These comments were projected directly onto the wall of our high-level panel, in full view of leading international dignitaries and the global press.

1Goal Ambassador Danielle Lineker

The panel featured inspiring speeches by the likes of former UK Prime Minister Gordon Brown and 1GOAL co-founder and co-chair Queen Rania of Jordan — but above all it was the passion of 1GOAL’s individual supporters that showed attending dignitaries that the people of the world stand united behind this call.

1GOAL’s youngest ambassador, 12-year old Soweto student Nthabiseng Tshabalala, spoke at multiple events and drew standing ovations wherever she went. Backed by the words of vision and encouragement sent to her by 1GOAL supporters across the globe, Nthabiseng took the call for education straight to the hearts of the world’s most important decision makers.

Nthabiseng Tshabalala

And on Wednesday Nthabiseng and Queen Rania presented the 18 million declarations of support from 1GOAL supporters directly to the UN Secretary General, Ban Ki-moon. And he promised to do everything possible to encourage the nations of the world to keep the promise of a quality education to every single child.

As part of the Global Campaign for Education, 1GOAL is built on the strength of national campaigns working on the ground in over 100 countries to build support and fight for change. Each one of us should feel proud to be part of this amazing global network of millions of football fans, students, teachers, parents, and concerned citizens who have all come together for 1GOAL. Last week together we proved that when ordinary people combine our voices we can bring a brighter future a little closer for millions of children worldwide.

There’s still much work to do. We can’t sit back and wait until 2015 – we need to target the national, regional and global moments where we can secure the changes needed to achieve education for all. Over the coming months we will be in touch about these opportunities and will face the challenges ahead together knowing we are part of an incredible team.

With deepest appreciation for all you’ve done so far,

The 1GOAL team

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