Wednesday January 18, 2012

From Creamer Media in Johannesburg, I’m Brad Dubbelman

Making headlines:

A levy of R2.30/kg would be introduced on new tyres manufactured in or imported into South Africa from February 1 to pay for the collection and recycling of waste tyres, Water and Environmental Affairs Minister Edna Molewa announced yesterday. Over 200 000 t of tyres become waste tyres in South Africa every year, with about 11-million used tyres being dumped illegally or burnt to retrieve the steel wire in the tyre. “With this figure estimated to increase by around 9.5% annually, the country has a serious waste tyre problem,” Molewa said at a briefing.

Nigeria's graft watchdog has launched an investigation into corruption surrounding government subsidies on imported fuel, which critics say have bled billions of dollars from the Treasury into the pockets of fuel importers. The move follows a week of protests after President Goodluck Jonathan's administration tried to axe the popular subsidy to tackle corruption and waste in the sector but was forced to partially back down by a public outcry. Jonathan has been criticised, along with his predecessors, for doing too little to tackle entrenched corruption in Africa's most populous nation.

The world economy was at a critical juncture with UN economists predicting that 2012 would be a critical year to either maintain slow economic recovery or slip back into a recession. Persistent high unemployment, the eurozone sovereign debt crisis and premature fiscal austerity had slowed global growth over the past year and had increased the risk of another recession. The World Economic Situation and Prospects 2012 report, released by the UN, said that the baseline world gross product, based on relatively optimistic conditions, such as the sovereign debt crisis in Europe being contained, was expected to reach 2.6% and 3.2% in 2012 and 2013 respectively.

Also making headlines:
The Joburg Property Company presented about 305 beneficiaries with title deeds to the land they are occupying and four-roomed houses they secured through the reconstruction and development programme.

And, the findings of the Auditor-General's annual government audit are "scandalous" and heads should roll, trade unions and the Democratic Alliance said yesterday.

That’s a roundup of news making headlines today.