South Africa’s GDP grew by 2% due to agriculture

JOHANNESBURG - South Africa’s economy expanded 2% in the third quarter of the year down from an upwardly revised 2.8% recorded in the second quarter – but still beat market expectations of a 1.5% rise. The agricultural sector showed the biggest growth in the quarter under review surging 14.9% quarter on quarter- its biggest quarterly growth in 21 years. Higher production of field crops and horticultural products did most of the heavy lifting in the agricultural sector. Statistics South Africa said the nominal gross domestic product (GDP) grew R1.2 trillion in the third quarter, R22bn more than in the second quarter. Mining was up R7bn to R83bn, while manufacturing was up R9bn in the quarter to R140bn.  However, electricity was down R6bn to R39bn in the period.  Mining production in petroleum and basic metals divisions resulted in the secondary sector recording 2.1 percent in the third quarter. Macroeconomics statistics website Trading Economics said GDP Growth Rate in South Africa averaged 2.83 percent from 1993 until 2017, reaching an all-time high of 7.60 percent in the fourth quarter of 1994 and a record low of -6.10 percent in the first quarter of 2009.

South Africa: Finance Minister Congratulates New FIC Director

Finance Minister Malusi Gigaba has congratulated Advocate Xolisile Jennifer Khanyile on her appointment as the Director of the Financial Intelligence Centre.

"The Financial Intelligence Centre (FIC) plays a key role in ensuring that the financial system has integrity. We also believe that Advocate Khanyile will work with other industry stakeholders to ensure that transparency is improved in South Africa's financial system in order to support higher economic growth. We wish her well in her new role," said Minister Gigaba on Thursday.

Advocate Khanyile's appointment will be effective from 1 January 2018.

She holds a B Juris Degree from the University of Zululand, an LLB from the University of Zululand, and a Management Development Programme (MDP) from the University of the Free State Business School.

Positions Advocate Khanyile has held include that of Director of Public Prosecutions in the Free State; acting Director of Public Prosecutions in South Gauteng and Deputy Director of Public Prosecutions in the Asset Forfeiture Unit, among others.

The FIC collects information and analyses suspicious transactions


8 ways Ramaphosa plans to fix South Africa’s economy

After winning a bruising battle for control of South Africa’s ruling party, Deputy President Cyril Ramaphosa now faces an even more daunting task: rebuilding an economy battered by years of misrule, corruption and the appointment of incompetent officials. Ramaphosa has pledged to reignite growth, rebuild investor confidence and tackle a 28 percent unemployment rate. He’ll be the African National Congress’s presidential candidate in 2019 elections but could take over running the country even sooner should President Jacob Zuma make an early exit. Here’s what he plans to do:
Create at least 1 million jobs within five years Jobs will become the centerpiece of government policy. Special economic zones will be established and tax reforms and other incentives introduced to encourage manufacturers to hire. The government will also repair its relationship with the mining industry and provide it with greater policy certainty in a bid to persuade them to take on more workers. A youth-employment program will be scaled up to provide 1 million paid internships to unemployed people within three years.
Prioritize growth and investment The government will target 3 percent economic growth next year, up from about 0.7 percent this year, and 5 percent by 2023. It will take urgent measures to repair investor confidence, including improving institutional stability, restoring the credibility of the criminal-justice s

Block making machines |Mussan Group

Block making machine is increased massively with the onset of the Industrial revolution and the rise in factory building in England. For reasons of speed and economy, block making machine is increasingly preferred as building material to block making machine stone, even in areas where the stone was available chosen for construction to make the buildings more visible in the heavy fog and to prevent traffic. Transition from the traditional method of production block making machine known as hand moulding to a mechanised form of mass production block making machine slowly took place during the first half of the nineteenth century. Possibly the first successful block making machines  was patented. Block making machines  where capable of producing up to 18,000 bricks daily. Mechanical apparatus soon achieved widespread attention after it was adopted for use by  for brick making at their factory near Folkestone the  Block making Machines was patented. dominant manufacturer of block making machines. Bradley and Clayton  Craven Ltd. however was the block making machine patented by  Ver Valen in New York in 1852.  Demand for high office building construction at the turn of the 21th century, led to a much greater use of block making machine cast and wrought iron and later steel and concrete.  Use of block making machine for thick walls to maintain the structural integrity. Mussan Group is one of the leader of manufacturing block making ma