Why art and culture contribute more to an economy than growth and jobs

Jen Snowball, Rhodes University There is growing international interest in the potential of the cultural and creative industries to drive sustainable development and create inclusive job opportunities. An indication of this is a recent set of UNESCO guidelines on how to measure and compile statistics about the economic contribution of the cultural industries. But should …

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Why the voice of Africa’s informal economy should be heard

Terence Jackson, Middlesex University The informal economy in Africa is big business. The International Labour Organisation (ILO) estimates that its average size as a percentage of gross domestic product in sub-Saharan Africa is 41%. This ranges from under 30% in South Africa to 60% in Nigeria, Tanzania and Zimbabwe. It is also a huge employer. …

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How currency markets work and why the South African rand is falling

Fatima Bhoola, University of the Witwatersrand Given that South Africa operates within a flexible exchange rate regime, the value of the rand, like any commodity, is determined by the market forces of supply and demand. The demand for a currency relative to the supply will determine its value in relation to another currency. Theoretically, the …

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Key tax changes that will affect business in South Africa

Muneer Hassan, University of Johannesburg There was a time when, from a tax perspective, South Africa’s “mini budget” used to be a non-event. The main emphasis used to be placed on the annual budget speech delivered in February each year when tax policy proposals were announced. But over the past few years there has been …

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Africa’s youth and abundant arable land are a potential winning combination

Eugenie W. H. Maïga, Université de Koudougou Sub-Saharan Africa has two abundant resources: its youth and agricultural land. With the youngest population globally and the largest share of the world’s arable land, Africa stands to benefit greatly from getting and keeping the youth involved in agriculture. Africa’s agricultural sector has the lowest productivity in the …

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