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Daily podcast – February 26, 2013.

26th February 2013

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February 26, 2013.

From Creamer Media in Johannesburg, I’m Motshabi Hoaeane.

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Making headlines:

Economists say Finance Minister Pravin Gorhan has little room to manoeuvre ahead of the annual budget.

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Central African Republic rebels threaten to resume fighting.

And, AMCU signs a mine peace accord.

 

Economists say that Finance Minister Pravin Gordhan has a slim margin to manoeuvre on Wednesday, when he delivers the annual budget amid slow growth and falling revenue. Even so, he needs to reassure international ratings agencies that South Africa is on a sound fiscal path.

Nedbank senior economist Nicky Weimar said Gordhan's challenge would be to keep the deficit and negative investment sentiments in check.

On a similar note, Investec chief economist Annabel Bishop said policy uncertainty and labour constraints were key contributors to negative investor sentiment, which had prompted the sale of R5.5-billion worth of South African equities since mid-August.

The economists also said Zuma's announcement that Gordhan would undertake a review of the tax regime, notably on mining royalties, was unlikely to impact on this budget. However, they suggested income tax could rise as soon as 2014 and that top earners who already pay about a quarter of the country's income tax would bear the brunt of hikes.

 

Rebels in Central African Republic have threatened to resume fighting. They have accused President Francois Bozize of failing to honour a peace deal signed last month.

Bozize agreed in mid-January to form a national unity government to end an insurgency. The insurgency swept within striking distance of Bangui, the capital of the mineral-rich former French colony.

As a condition of this year's agreement, Seleka -a grouping of five rebel movements- demands the release of political prisoners and the withdrawal of most of the foreign forces that were brought to reinforce the army during the uprising.

A senior member of Seleka Nouredine Adam said that the rebels are waiting for Bozize to respect and implement the main points, otherwise they would be forced to take up arms again.

 

The emerging Association of Mineworkers and Construction Union (or AMCU) has now signed the peace and stability framework drawn up for the labour-ravaged South African mining industry.

Mineral Resources Minister Susan Shabangu reconvened on Monday to assure a full-house agreement by all the main mining stakeholders. The stakeholders included the Chamber of Mines, the South African Mining Development Association and organised labour made up of the National Union of Mineworkers, UASA, the National Union of Metalworkers of South Africa, Solidarity and now also AMCU, which was formerly absent.

The Ministry said that all stakeholders have agreed to the framework and signed.

AMCU president Joseph Mathunjwa described the framework for peace and stability in the mining industry as a positive stepping stone towards addressing socioeconomic challenges facing the working class, subsequent to identifying the root causes of the mining instability and violence.

 

Also making headlines:

UN chief Ban Ki-moon calls for a special force to combat DRC rebels.

Corruption Watch says government should do more than name and shame already convicted government officials.

And, Gauteng premier Nomvula Mokonyane reveals that the development of a master plan for the aerotropolis concept at OR Tambo International Airport is underway.
 

That’s a roundup of news making headlines today.

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