For Creamer Media in Johannesburg, I’m Lynne Davies.

Making headlines: Ramaphosa congratulates Dire Tladi on new role at International Court of Justice, government scrambles to borrow more money and, Africa must do more to advance its own development, says Trevor Manuel

 

Ramaphosa congratulates Dire Tladi on new role at International Court of Justice

President Cyril Ramaphosa extended his congratulations to University of Pretoria Professor Dire Tladi for being selected by the United Nations to be a judge in the International Court of Justice.

The International Court of Justice is the principal judicial organ of the UN and one of its six principal bodies.

Tladi is the newest member of a law fraternity of South Africans globally who are in positions of service to the international community.

The President hopes “he will make important contributions to the better world we seek to build”.

Commenting on Tladi’s appointment, University of Pretoria pan-African collaborative research platform Future Africa director Dr Heide Hackmann said his appointment is a milestone in the pursuit of global peace and justice.

 

Government scrambles to borrow more money

The South  African government, which is being forced to sell ever more debt than planned because it’s spending more than it makes, is unlikely to reverse this spiral any time soon - especially not ahead of an election, economists say.

It emerged in the medium-term budget that over the next three years, the state will have to borrow more, issuing debt at an average of R552.7-billion a year to finance the widening gap between expenditure and tax collection, to refinance maturing bonds and to fund the Eskom debt-relief arrangement.

Finance Minister Enoch Godongwana said there were plans to cut state spending and that more cuts would be announced next year.

 

Africa must do more to advance its own development, says Trevor Manuel

Insurance and investment management company Old Mutual chairperson and former South Africa Finance Minister Trevor Manuel has said Africa's business sector and governments must push harder in addressing the challenges facing the continent, as the biggest threat to its development is complacency.

Economic growth of Southern Africa this year is expected at 2.5% and may go higher over time.

However, the demographic dividend suggests that the population is growing faster than the economy is growing.

Manuel warned that unless the continent engages with issues in a real way, per capita the gross domestic product will continue to decline.

He said what is holding South Africa back is the rate at which infrastructure is deteriorating. He said Eskom must be fixed and renewables brought on much faster than we have been doing. He also said hydrogen, and other such opportunities, must be seized.

That’s a roundup of news making headlines today

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