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Daily Podcast – September 28, 2020

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Daily Podcast – September 28, 2020

28th September 2020

By: Sane Dhlamini
Creamer Media Researcher and Writer

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For Creamer Media in Johannesburg, I’m Sane Dhlamini.

Making headline: SA commits $500 000 to empower female financial leaders, South Africa's post coronavirus economic recovery faces risks and, Nigeria's main unions suspend planned strike after government talks

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SA commits $500 000 to empower female financial leaders

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South Africa has made a commitment of $500 000 to the African Women Impact Fund, which seeks to empower women financial leaders.

South African President Cyril Ramaphosa, in his capacity as President of the African Union, said during a high level virtual panel, that this gesture was in support of greater economic and financial inclusion in African countries.

Forty percent of all public procurement will be reserved for women-owned businesses and the AU is working with its member States to develop similar policy guidelines across the continent.

 

South Africa's post coronavirus economic recovery faces risks

South Africa's post coronavirus economic recovery will face a number of constraints, with risks of a larger than forecast contraction this year tilted to the upside, ratings firm Moody's said on Monday.

A recession deepened by the impact of the coronavirus has frustrated economic reform efforts in the country aimed at reducing government debt and attracting foreign investment.

Moody's lead analyst for the country, Lucie Villa, said the main concern was the government's "exit strategy" as it unwound Covid-19 economic support measures and reinstated the fiscal consolidation promised before the pandemic.

 

Nigeria's main unions suspend planned strike after government talks

Nigerian labour unions agreed with the government on Monday to suspend a planned strike over fuel and power price rises hours before businesses were due to grind to a halt, the labour minister and trade unions said.

The Nigerian Labour Congress, which represents millions of workers across most sectors of Africa's biggest economy, including parts of the oil industry, last week announced its plans to embark on a general strike.

Nigeria cut costly subsidies in September to allow the petrol price to be determined by the market and increased the power tariff.

 

That’s a roundup of news making headlines today

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