Posts tagged poverty

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A weak rand is bad news for the poor

Within hours of Zuma’s imprudent announcement that he was appointing as minister of finance an ANC backbencher and former mayor to 200 000 people in the West Rand (until residents burned down his house and chased him out), the South African banking index lost R128 billion in share value (its worst hit since October 2001), and the rand fell by 5.4% to a record low of R15.38 to the dollar. Within days, Zuma had to replace him by reappointing a former minister, Pravin Gordhan, to the job.

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Will the New President Save Tanzania?

“There is going to be blood this year if my party doesn’t win,” said the young man Tanzania, and his fellows cheered him on. For a country that is deemed to be a harbour of peace, it is especially scary to hear passionate young people throwing words like blood around in conversation, as if it were nothing. Yes we want change, but what price are we willing to pay for the change? Can this change also be peaceful?