September 13, 2018.
For Creamer Media in Johannesburg, I’m Sashnee Moodley.
South Africa's economic recovery will be slow
Easing of water restrictions will restore international investor confidence in Cape Town
And, white youth urged to join the ANC Youth League
Ratings agency Moody’s has said a recovery in South Africa's economic growth will be slow and less than the Treasury's estimate of 1.5% for 2018 following a surprise contraction in the first two quarters.
Moody’s lead analyst Lucie Villa said growth was going to be below 1%
Moody's is the last of the top rating agencies to have Pretoria's long-term foreign-currency debt in investment grade.
Business leaders says the easing of the stringent water restrictions will restore international confidence in Cape Town as a destination for tourism and investment.
But it will take hard work getting the message out there.
Tim Harris, CEO of Wesgro, the agency that promotes tourism, trade and investment in Cape Town and the Western Cape said the lower water price that is to go with the lowering of restrictions on October 1 would be a great help for struggling businesses, particularly those who used water as a key input.
The move was especially welcome during this period of reduced national economic growth, he added.
Outgoing African National Congress Youth League secretary general Njabulo Nzuza says policies on the economy and land do not mean that the organisation only wants its membership to be dominated by black Africans.
He said young white South Africans needed to join the organisation for the true spirit of "non-racialism" to be reflected through its members.
He insisted that the league, like its mother body, could not exist as just an organisation for black Africans.
That’s a roundup of news making headlines today
To keep in touch with the news while you are on the move, visit m.polity.org.za