Friday January 21, 2011

From Creamer Media in Johannesburg, I’m Brad Dubbelman

Making headlines:

The South African Reserve Bank left its key policy rate unchanged as expected on Thursday, citing an improving economic outlook and rising inflation risk, and said that monetary policy should remain stable for some time. The decision, announced by Central Bank Governor Gill Marcus, could signal the end of a 650 basis point easing cycle that began in December 2008 as Africa's biggest economy was hit by the global financial crisis. It could also anger labour unions who have demanded more aggressive rate cuts, saying the economy needs further stimulus after its first recession in nearly two decades slashed about a million jobs.

The Central African Republic holds long-delayed Presidential and Parliamentary elections on Sunday that are unlikely to bring stability to the mineral-rich but fragmented nation. President Francois Bozize, in power since a 2003 coup, goes into the vote the favourite but could need a run-off to secure victory. Even then, his authority will continue to be challenged by political rivals and bands of rebels and bandits. Hundreds of candidates will also vie for 105 seats in a parallel vote for the country's Parliament on the same day. The polls, originally due last April, have been delayed three times due to lack of funds and trouble disarming rebels who have signed peace deals but still roam the northern areas, often involved in criminality as much as politics.

The Production Management Institute said that South Africa’s national schooling system is not producing the range and kind of skills required for meaningful socio-economic development in the country. Strategic projects GM Johan Botha said that business throughout South Africa would “grind to a halt” if it had to wait for the country’s education system to produce the skills they needed. This comes in the wake of ongoing criticism that the increased pass rate in the 2010 grade-12 results didn’t show to any improvements in quality. Botha pointed out that certain matric subjects, including mathematics, could be passed with marks as low as 30%.
He said that showed that it has okay to be wrong 70% of the time, which is clearly unacceptable in the real world of business, where mistakes have serious, and even fatal, consequences.

Also making headlines:
The African Union's mediator for the Côte d’Ivoire will hold talks with the leaders of Angola and South Africa, which are seen as potential weak points in efforts to force incumbent Laurent Gbagbo to step down.
Nigerian President Goodluck Jonathan's top advisers have urged him to cut the rising cost of government by merging ministries and agencies, freeing up funds for development projects.
And, last year tied for the hottest year on record, confirming a long-term warming trend, the World Meteorological Organization said.
That’s a roundup of news making headlines today.