On-target Lady Spikers to defend UAAP crown against Lady Tamaraws

first_imgLike the juggernaut that it is, two-time defending champion La Salle crushed National University Sunday as it barreled its way into a 10th straight Finals stint in UAAP women’s volleyball.With a potent system and smarts that marked their campaigns the past decade, the Lady Spikers punished the hapless Lady Bulldogs, 27-25, 25-22, 25-11, in their semifinal match at Mall of Asia Arena.ADVERTISEMENT MOST READ Volcano watch: Island fissures steaming, lake water receding Turned out that was all the Lady Bulldogs can do as they mimicked their season where they rocked the field with a 6-1 record in the first round of eliminations only to lose all but one of their succeeding games.Ironically, NU advanced to the Final Four after La Salle slammed the door on Adamson, which could’ve forced a playoff with the Lady Bulldogs for the last semifinals seat had it prevailed over the Lady Spikers.NU’s 6-foot-5 star, Jaja Santiago, ended her collegiate career with a whimper. Despite being the most dominant player in the league for years, she failed to give the Lady Bulldogs a championship.She finished with 17 points and was in tears as La Salle celebrated on center court.In men’s action, NU barged into its sixth straight Final after besting University of Santo Tomas, 25-13, 25-13, 31-29. It will face the winner between Ateneo and FEU which will settle their Final Four duel this Wednesday.La Salle’s Kim Kiana Dy said their performance all season—including a nine-game winning streak—would be “back to zero” when they take on the Lady Tamaraws.ADVERTISEMENT Jo Koy draws ire for cutting through Cebu City traffic with ‘wang-wang’ View comments LATEST STORIES WANTED: NSA Godfathers In fight vs corruption, Duterte now points to Ayala, MVP companies as ‘big fish’ Truck driver killed in Davao del Sur road accident “We should start preparing for the finals,” said Dy.Sports Related Videospowered by AdSparcRead Next Green group flags ‘overkill’ use of plastic banderitas in Manila Sto. Niño feast Lights inside SMX hall flicker as Duterte rants vs Ayala, Pangilinan anew But unlike the past six seasons, La Salle will dispute the crown not against archrival Ateneo but opposite title-hungry Far Eastern University, which made the best-of-three championship series on Saturday.They will go at each other’s throats for the first time since 2009, when La Salle took the crown and FEU last made the Finals. Game 1 will be on Saturday at Smart Araneta Coliseum.FEATURED STORIESSPORTSGinebra beats Meralco again to capture PBA Governors’ Cup titleSPORTSAfter winning title, time for LA Tenorio to give back to Batangas folkSPORTSTim Cone, Ginebra set their sights on elusive All-Filipino crownLa Salle encountered a minor hitch in the first set when it trailed 12-7.“At the start of the match, we were very tight,” said La Salle coach Ramil de Jesus in Filipino. “I told the players to get out of the box and not limit ourselves to what we can do.” Don’t miss out on the latest news and information. Scientists seek rare species survivors amid Australia flames P16.5-M worth of aid provided for Taal Volcano eruption victims — NDRRMC Carpio hits red carpet treatment for China Coast Guard PLAY LIST 02:14Carpio hits red carpet treatment for China Coast Guard02:56NCRPO pledges to donate P3.5 million to victims of Taal eruption00:56Heavy rain brings some relief in Australia02:37Calm moments allow Taal folks some respite03:23Negosyo sa Tagaytay City, bagsak sa pag-aalboroto ng Bulkang Taal01:13Christian Standhardinger wins PBA Best Player award ‘Stop romanticizing Pinoy resilience’last_img read more

Ravena said he had no intention to hit Escoto: ‘There was no extra motion’

first_imgDon’t miss out on the latest news and information. As Almazan goes missing, six PBA teams interested in his services Allen Durham still determined to help Meralco win 1st PBA title For the complete collegiate sports coverage including scores, schedules and stories, visit Inquirer Varsity. Ravena was called for an unsportsmanlike foul, which was also his fifth personal with 3:02 left in the game, prompting his early exit in the Blue Eagles’ 63-60 loss.Referees blew their whistles after Ravena, as the video replays showed, dragged Richard Escoto’s head down while attempting a shot in the lane.FEATURED STORIESSPORTSGinebra beats Meralco again to capture PBA Governors’ Cup titleSPORTSJapeth Aguilar wins 1st PBA Finals MVP award for GinebraSPORTSGolden State Warriors sign Lee to multiyear contract, bring back ChrissRavena said he had no intention of hitting the Tamaraw’s head and that he didn’t even see Escoto, who was guarding him at the waist.“To be honest, to clarify things, there was no extra motion and for me I didn’t even see him,” said Ravena Wednesday at Mall of Asia Arena. “I was surprised because he was guarding me from such a low position and I hit him.” Lights inside SMX hall flicker as Duterte rants vs Ayala, Pangilinan anew Trending Articles PLAY LIST 00:50Trending Articles00:50Trending Articles02:14Carpio hits red carpet treatment for China Coast Guard02:56NCRPO pledges to donate P3.5 million to victims of Taal eruption00:56Heavy rain brings some relief in Australia02:37Calm moments allow Taal folks some respite03:23Negosyo sa Tagaytay City, bagsak sa pag-aalboroto ng Bulkang Taal01:13Christian Standhardinger wins PBA Best Player award LATEST STORIES Luck wasn’t on Thirdy Ravena’s side Wednesday when Ateneo faced Far Eastern University in the UAAP Season 81 men’s basketball tournament.ADVERTISEMENT Phivolcs: Slim probability of Taal Volcano caldera eruption Gov’t to employ 6,000 displaced by Taalcenter_img Tim Cone, Ginebra set their sights on elusive All-Filipino crown Sports Related Videospowered by AdSparcRead Next MOST READ Lights inside SMX hall flicker as Duterte rants vs Ayala, Pangilinan anew Ateneo trailed the Tamaraws 56-49 during Ravena’s exit and it also costly for the Blue Eagles, whose comeback fell short in the final minutes.The Blue Eagles managed to cut the lead to three, 61-58, after Mike Nieto’s layup with 1:04 left in the game but that was the closest Ateneo got apart from the deficit in the final scoreline.Ravena, though, accepted his mistakes and the referees’ decision.“My fouls troubles are part of the game and I respect the call of the referees,” said Ravena who had eight points, four assists, two steals, and one block.ADVERTISEMENT Japeth Aguilar embraces role, gets rewarded with Finals MVP plum Gretchen Barretto’s daughter Dominique graduates magna cum laude from California college Nadine Lustre’s phone stolen in Brazil View commentslast_img read more

9 Lawmakers Sign Resolution for War Crimes Court

first_imgRep. Dennis with Reps. Sonwarbi and Domah shortly after the ceremony. Nine of the 73 representatives signed a resolution seeking the establishment of a war crimes court for Liberia at a conference for lawmakers held in Paynesville last week, Representative Rustonlyn Suacoco Dennis of Montserrado District #4 has said.Rep. Dennis, who chairs the House’s Committee on Claims and Petitions, did not name the signatories to the Resolution for the Establishment of War Crimes Court in Liberia (H. Res. 001). However, their signing of the resolution, drafted by the Liberia National Bar Association (LNBA) in April this year is the first ever move by members of the Legislature to support a future war crimes court in the country.The resolution still needs at least 40 more votes to be passed by the House before it is sent to the Senate, according to the House’s rule requiring a two-thirds majority vote.“Just within a day we were able to get nine signatures, while we are on break,” Rep. Dennis informed the conference delegates, noting, “Just imagine when we would have resumed session, we will get other representatives to sign,” Dennis added to the applause from conference delegates.The TRC report listed a number of lawmakers to be prosecuted for crimes they allegedly committed, including Representative George Boley of Grand Gedeh, Senator Prince Johnson of Nimba and Senator Dan Morias of Maryland County. Even House Speaker Bhofal Chambers has voiced opposition to the court.Rep. Dennis said the executive branch of government has influenced the legislature not to be independent, but she remains optimistic that both the House and the Senate would pass the resolution.“We consider this quest for the establishment of a war crimes court very cardinal for ending impunity in this country,” she said, noting, “I am sure we will get the 49 signatures.”A number of Liberians have been tried, and indicted in connection to crimes committed during the country’s war in Europe and the North America.Ten years ago, Liberia’s TRC recommended the court be set up, but that has not happened so far. President George Weah has shown no political will for the court like his predecessor Ellen Johnson Sirleaf, and previous legislatures have also shown no interest to establish the court.The United Nations has given Liberia only up to July next year to address crimes committed during its civil war, one Africa’s bloodiest conflicts, which lasted from 1989 to 2003. And if the resolution passes both houses of the Legislature, President Weah would be under pressure to sign it into law.The Resolution calls on the President to support the establishment of the court, and urges him to seek the support of the international community and civil society organizations for the trials of accused individuals to be free and fair as well as held in accordance with international standard.It also calls for a full implementation of the recommendations of the TRC, which recommended the erection of memorial for victims and reparations for survivors.The conference was a collaboration of the Secretariat for the Establishment of a War Crimes Court in Liberia (SEWACCOL), Civitas Maxima, University of Nottingham and the Global Justice and Research Project (GJRP).The House’s Committees on Claims and Petitions, Judiciary, Good Governance and Government Reform, Ways Means and Finance Development, and Peace and Reconciliation requested for the conference, according to a news release by Civitas Maxima.Other lawmakers present at the conference promised to sign the resolution.“We will sign this resolution and we will take it from county to county on the floor to make our colleagues to express publicly how they feel about this burning national issue that needs to be dealt with to make us be represented among the comity of nations as a civilized country,” remarked Representative Larry P. Younquoi (#8), who has been one of the court’s staunchest supporters. He said and other lawmakers would push the resolution to a referendum if the Senate refuses to pass it.Aaron Weah, a member of SEWACCOL and the country director of  Search for Common Ground, made a presentation about wartime massacre across the country that moved lawmakers attending the conference.He referenced the TRC report, which recorded 32 massacre sites in Lofa, 30 in River Cess, 24 in Grand Cape Mount County and 18 in Gbarpolu County. These four, according to Mr. Weah, are the highest among massacre sites in other counties across the country.Representatives Beyan D. Howard Lofa County (#5), and Joseph N. Sonwarbi of Nimba (#3) upon Weah’s presentation, requested that copies bearing the massacre sites be produced and distributed among members of the House of Representatives and Senate to help them make an informed decision on the court.“Some of us are just getting to know this information, and I believe most of some of our colleagues under the influence of the Executive [who are] opposing this resolution do not know,” Representative Howard charged.  “When the information is distributed and they see what happened in their counties, they will see reason to agree with us,” Rep. Howard said.There were also calls for the media and civil society to get involved.“Civil society organizations and the media should help in this process to provide awareness to the people of our districts so that the people will know and share their views on the horrible massacres that took place in their areas, because they are not aware of these things,” said Representative Vincent Willie, II of Grand Bassa County (#4). “By that, they will fall in support of justice and will not oppose war crimes court establishment here,” said Representative Willie.”Representative J. Fonati Kofa of Grand Kru (#2) also expressed support for the resolution, but said that it should be drafted in line with the Constitution to protect both victims and perpetrators.This story was a collaboration with New Narratives as part of the West Africa Justice Reporting Project. The donor has no say in the story’s content.Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)last_img read more

Barbadian man who killed Guyanese wife still at large

first_imgBarbadian man who killed Guyanese wife still at largeDavid King, the man who killed his Guyanese wife in front of her two children on Saturday at her place of employment in Mandela Mall in Barbados, is still at large. Barbados Police are, however, encouraging the suspect to turn himself in.Onica and David King in happier timesKing’s deceased wife had been 36-year-old Onica King of Leadvale, Christ Church, Barbados, a former resident of Belladrum, West Coast Berbice.According to Nation News in Barbados, Social Care Minister Steve Blackett has confirmed that the two children who had witnessed the act will be counselled.“I know that the Child Care Board has come on board and is offering services and is offering counselling. That is my principal aim, to have those children counselled,” Blackett told the CBC News Agency on Sunday evening.As he decried acts of domestic violence, the minister said he hopes estranged parties could solve their issues “before they reach the point where a life is lost. It saddens me every time something like this happens”.The Guyanese nail technician was on Saturday afternoon attacked and stabbed to death by her husband at her Swan Street, Barbados place of employment.Based on reports gathered, the suspect reportedly turned up at the woman’s workplace and an argument ensued. The man, according to information, might have premeditated the murder, since he whipped out a knife that he was carrying and attacked the woman.The woman’s throat was slit, and she was stabbed several times before the suspect made good his escape.After the stabbing incident, shocked onlookers contacted the emergency services, but by the time the ambulance arrived at the scene, Onica King had already passed away.Barbados Police, in an official statement, said the Police received a report of a stabbing during an altercation between a man and a woman.last_img read more

Missed Messi penalty costs Barcelona in cup derby defeat

first_img“We knew this day would come, we tried to delay it as much as possible but it couldn’t be today,” said Sergio Busquets after the match.“The good thing is that we have the second leg to try to mount a comeback. We are lucky to have that game at home, and we will have to win whatever happens.”In a match of few chances Barca’s penalty, which came after a foul on Sergi Roberto, looked to be the decisive moment for the away side, but Espanyol keeper Diego Lopez dived superbly to his left to push Messi’s powerful shot wide.Navarro then came close to giving the hosts the lead in the 83rd minute with a dipping free-kick that forced an excellent save from Jasper Cillessen, before five minutes later setting up the goal that gave Espanyol their first win over Barcelona in nearly nine years.“This victory is important for the history of the club and to break down all those walls,” said Espanyol coach Quique Sanchez Flores.“It was telling how long ago it had been since we’d won against Barcelona, now the counter is back zero and we’re immensely happy about that.”Atletico Madrid’s forward Diego Costa (L) shoots against Sevilla’s goalkeeper Sergio Rico Gonzalez on January 17, 2018 © AFP / PIERRE-PHILIPPE MARCOU– Atletico stunned –Diego Costa’s third goal in four matches wasn’t enough for Atletico Madrid as Sevilla twice scored late to stun their hosts 2-1 in the first leg at the Wanda Metropolitano.Costa struck for dominant Atletico on his first appearance since being sent off for wildly celebrating his last goal, in a 2-0 league win against Getafe, this one a superb first-time shot past Sevilla keeper Sergio Rico after the ball ricocheted to him in the 73rd minute.However Sevilla grabbed a hugely fortunate and barely deserved equaliser seven minutes later when a speculative cross deflected off Atletico defender Lucas Hernandez and was then inexplicably pushed into his own net by keeper Miguel Angel Moya.New Sevilla coach Vincenzo Montella sealed his third win since arriving in Spain — all of coming them in the cup — with a much better goal two minutes from time, Joaquin Correa racing on to Wissam Ben Yedder’s knock-on and tucking a fine finish past Moya.Valencia came close to being shocked at their Mestalla stadium by Alaves, who are languishing in 17th place in La Liga and are just two points above the relegation zone, but Goncalo Guedes and Rodrigo scored in nine second-half minutes to overturn Ruben Sobrino’s 66th-minute opener for the away side.Struggling Real Madrid and their under-fire boss Zinedine Zidane travel to Leganes on Thursday hoping to banish all talk of a crisis at the domestic and European champions after the weekend’s shock home defeat to Villarreal.0Shares0000(Visited 1 times, 1 visits today) 0Shares0000Barcelona’s forward Lionel Messi reacts during the Spanish “Copa del Rey” quarter-final first leg football match against Espanyol January 17, 2018 © AFP / Josep LAGOMADRID, Spain, Jan 17 – Lionel Messi missed a penalty as Espanyol struck in the dying moments to consign Barcelona to their first defeat since August, 1-0 in the first leg of the Copa del Rey quarter-finals on Wednesday.Oscar Melendo slotted home a neat finish with two minutes remaining of a temperamental derby cup tie, racing onto Marc Navarro’s low cross to punish Messi for missing a 62nd-minute penalty and send the home crowd into raptures.last_img read more


first_imgKillybegs Credit Union, which serves all of South West Donegal, is in a very healthy condition with receipts for the past year in excess of €8.5m.KillybegsThe body’s income is running more than half a million euro ahead of expenditure for the 12 months, and reserves comfortably in excess of Central Bank requirements.This was stated at the 45th annual general meeting of the organisation in the Bay View Hotel which was attended by more than 80 members. Killybegs Credit Union serves the area south the Gweebarra and west of Inver bridge, including the communities of Glenties, Ardara, Glencolmcille, Carrick, Kilcar, Bruckless, Dunkineely and, of course, Killybegs.Outgoing chairman, Mr Colm Cunningham, emphasised to the AGM the importance of new legislation and the changed relationship with the Central Bank of Ireland.But he stressed that Killybegs Credit Union had no reason to be anxious about the changes as it more than met all requirements. He thanked the members, his fellow directors and the staff and volunteers for their help and support during his time as chairman.The following were elected to serve for the coming year: Anne Marie Burke, Alan Darnell, Colm Cunningham, John Mc Swiggan, Conor Conaghan, Marian Mc Guinness, and Colin Mabon. KILLYBEGS CREDIT UNION POST HEALTHY RECEIPTS OF €8.5MILLION was last modified: February 12th, 2014 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:Killybegs Credit Unionlast_img read more

No. 5 Cerritos falls short in women’s volleyball

first_imgNancy Marin had 22 kills and Stephanie Crowell totaled 51 assists for the Cerritos College women’s volleyball team Friday night, but the Falcons (9-2, 2-1) ranked fifth in the state fell 26-30, 30-20, 30-26, 30-27 to second-ranked El Camino (10-0, 3-0) in a South Coast Conference match at Cerritos. Naomi Hobayan added 18 digs for the Falcons. Irvine Valley 3, Cypress 1 The Chargers (3-5, 1-2) fell at home in Orange Empire Conference play, 30-26, 24-30, 30-19, 30-27. Chloe Maxwell had seven blocks for Cypress. Shaneka Gordon scored two goals to help the Vikings (12-0) beat the visiting Hornets (5-8-1) in a nonconference game. Chico State 2, Cal State Dominguez Hills 1 The Toros (7-4-1, 2-3-1) fell at home in California Collegiate Athletic Association play. Tora Senff had the CSDH goal. MEN’S SOCCER Cypress 3, Riverside 1 Trevor Rice scored in the 12th and 20th minutes to help Cypress (5-7-2, 1-3-0) win at home in OEC play. Riverside fell to 0-2-1 in conference. LBCC 2, Compton 1 Willie Oberegon and Felipe Ramos netted goals to help the Vikings (7-4-2, 2-1) beat the visiting Tartars in SCC play. Cal State Dominguez Hills 2, Chico State 0 Kei Kamara and Jason Koza scored goals to help the Toros (10-1-1, 4-1-1) beat visiting Chico State (3-6-2, 2-3-1) in CCAA play. 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREThe top 10 theme park moments of 2019 WOMEN’S SOCCER Cerritos 3, Mt. SAC 0 Lupe Sanchez, Yesenia Montenegro and Melissa Zapata had goals to help the Falcons beat the visiting Mounties in SCC action. Falcons goalie Elizabeth Sanchez earned the shutout with four saves. Cypress 1, Santiago Canyon 1 Danielle Carty scored a goal and Sarah Balderas made five saves to help the visiting Chargers (10-0-2) tie Santiago Canyon (10-0-2) in OEC play. LBCC 4, Fullerton 0 center_img WOMEN’S WATER POLO Long Beach City 7, Diablo Valley 2; LBCC 6, Fullerton 2 Heather Penna scored five goals to help the Vikings win two games in the Merced Tournament on Friday. In the first game, LBCC got 12 saves from Jenna Beer. In the second game, Beer made 14 saves in a victory over Fullerton. LBCC is now 14-4. last_img read more

Bacterial Parcel Service Discovered

first_imgBacteria send letters and parcels to one another.  Some of them are love letters, some of them are letter bombs.  This amazing packaged system of communication, separate from the mere sending of diffusible chemicals, was described in Nature1 with the title, “Microbiology: Bacterial speech bubbles.”  Stephen C. Winans described what is known about bacterial communication:Many bacteria socialize using diffusible signals.  But some of these messages are poorly soluble, so how do they move between bacteria?  It seems they can be wrapped up in membrane packages instead.   (Emphasis added in all quotes.)He said that two research studies in the same issue of Nature, one on how bacteria talk to their friends, and another on how they attack their enemies, met in an “unexpected convergence.”  One type of parcel, for instance, is “released in bubble-like ‘vesicles’ that also contain antibacterial agents and probably toxins aimed at host tissue cells as well.”    Through this form of packaged communication, a community of microbes engages in “quorum sensing” to detect whether it is alone or surrounded by its own kind or other species.  Some genes only turn on when there is a quorum reached.  One of these Winans mentioned is bioluminescence – turning on the lights.    The parcels can contain chemicals, proteins, toxins and other molecules in a lipid envelope.  The packaging permits delivery of proteins and chemicals that otherwise might be insoluble.  Some bacteria have three separate kinds of signal parcels.  The packages form lipid bubbles around them as they emerge from the bacterial membrane.  These can merge with a friendly neighbor or, depending on the need of the moment, deliver a toxin to an enemy – a package bomb on the scale of bacteria.    To work, the system requires multiple parts: the contents, the packaging, the delivery method, and the response to received parcels.  Winans did not speculate on how this system might have evolved, other than to say, “Various groups of bacteria use diffusible chemicals to signal to their own kind, and this method of communication seems to have evolved independently several times.”1Stephen C. Winans, “Microbiology: Bacterial speech bubbles,” Nature, 437, 330 (15 September 2005) | doi: 10.1038/437330a.This is an interesting phenomenon that deserves further investigation by science and medicine.  Since humans are sometimes targets of the toxins delivered by these vesicles, interrupting or targeting the bacterial UPS might lead to cures for disease.  Was this system originally a beneficial delivery service that got co-opted for harm?  It seems unlikely that a mindless bacterium could come up with such a complex system of interacting parts once, let alone several times, by an evolutionary process of trial and error.    It’s a stunning thought to envision lowly bacteria with a social life and a coordinated, effective package delivery system.  Rather than assuming it arose spontaneously as an opportunistic mechanism for serving the bacterial “self,” perhaps it is best to look at this phenomenon from the vantage point of systems biology (06/15/2005, 06/20/2005).  What role might it play in the bigger picture?    “Attacking and killing enemies” is a metaphor with metaphysical baggage (see “Metaphors Bewitch You,” 07/04/2003).  Another way of thinking about the “parcel bombs” might be with the give-and-take metaphor of action/reaction, feedback/feedforward, agonist/antagonist – i.e., a sensory mechanism of messages and responses that keeps a larger dynamic system in balance (homeostasis).  Such balancing interactions take place at many levels in biology, from interactions between molecules and proteins within the cell all the way up to interactions between higher organisms.  If too much of one side causes pain and suffering, that does not preclude the possibility that, in balance, the operation had a beneficial role.    An evolutionist would undoubtedly study this bacterial UPS as a byproduct of selfish genes at work trying to ensure their own survival.  A design theorist could continue investigating it with just as much curiosity and enthusiasm, but without the tunnel vision of Darwinian self-centeredness.  He or she would ask, in the big picture, what role does it play, and has that role gone awry? (Visited 6 times, 1 visits today)FacebookTwitterPinterestSave分享0last_img read more

Mandela’s South Africa: Two decades of freedom

first_imgClick on image to download the report. “In April 1994, the South African economy literally had junk status,” says Colin Coleman of Goldman Sachs. “South Africa confounded apartheid apologists by enjoying a peace dividend from 1994 to 2007 with real GDP growth averaging 3.6% per annum, only slowing to 2.3% following the 2008 global financial crisis.” (Images: Goldman Sachs) MEDIA CONTACTS • Goldman Sachs International 13th Floor The Forum 2 Maude Street Sandton 2196 + 27 11 303 2700 RELATED ARTICLES • Take action for competitiveness • Ramaphosa unpacks the NDP • SA is getting plenty right • We look up to you: Ibrahim • One Young World celebrates MandelaColin Coleman, Partner Managing Director, Goldman SachsAfter almost two decades of democracy the world is asking: “What has Nelson Mandela’s South Africa done with its freedom?” With the 95-year-old father of the nation ailing, the 52-million South Africans who see him almost universally as a hero are also asking what lies ahead long after Madiba.To contribute towards a balanced narrative, Goldman Sachs has constructed a data rich, empirical analysis of how South Africa has changed in the past 20 years, revealing what South Africa still needs to tackle.When Nelson Mandela became president in 1994 he took over a state in crisis. South Africa had no foreign exchange reserves, double digit lending and inflation rates, a debt to GDP ratio of 50%, and 23% unemployment. Between 1980 and 1994 the economy grew at a real average rate of just 1.4%. Few believed that the previously-banned African National Congress (ANC) had the ability to manage Africa’s largest economy. Equally few people grasped just how bad the inheritance was. In April 1994, the South African economy literally had junk status.South Africa confounded apartheid apologists by enjoying a peace dividend from 1994 to 2007 with real GDP growth averaging 3.6% per annum, only slowing to 2.3% following the 2008 global financial crisis. By 2007 debt to GDP almost halved to 28%, and while now back at 42%, it still compares favourably to most developed markets.Post-1994, a “Golden Period”, the economy grew 2.5 times in size from $136-billion to just under $400-billion today. Inflation plummeted from an average of 14% in the 14 years to 1994 to an average of around 6.4% thereafter under the guidance of the Reserve Bank’s inflation targeting. South Africa now boasts a respectable $50-billion of gross gold and foreign exchange reserves. The tax net also grew, from 1.7-million taxpayers and $11-billion in receipts in 1994, to 13.7-million taxpayers and $81-billion in receipts in 2012. Notwithstanding a recent one notch downgrade, South Africa’s sovereign credit rating deservedly improved to investment grade today.Responsible macroeconomic stewardship has, generally, been accompanied by adherence to the rule of law, respect for the much admired South African Constitution, media freedom and strong independent institutions such as the Reserve Bank and judiciary.Perhaps the most striking successes since 1994 have been the creation of a growing and sizable African middle class, increased real wages for the employed, and the extension of social welfare and services to underprivileged communities. In the decade since 2000, the African middle class more than doubled in size. Real GDP per capita increased by 40% over this period, as 10-million South Africans, one out of five, graduated from lower to the middle and higher income bands.Welfare has been extended to 16-million people who receive monthly cash grants at an annual cost to the government of $10-billion. Disadvantaged households also receive far greater access to basic services such as sanitation, electricity and water. Collectively, these transfers provide a tangible “democracy dividend.”When economic isolation ended, trade patterns changed. While Europe remains its largest trading partner, China is rapidly catching up. The Johannesburg Stock Exchange (JSE) became the world’s 15th largest bourse, with a total market capitalisation twice that of local GDP, at around $800-billion and representing 80% of all African equity capital market flows. The corporate valuation gap between the JSE and developed markets closed, setting the stage for South African companies to compete globally for assets. The deeply liquid JSE is now the ideal investment hub for Africa.But major structural challenges remain.Click image for a larger view.South Africa is one of the most unequal societies in the world. By 2008, 85% of Africans were still in the impoverished or lower income categories receiving less than R1 400 per month compared to 87% of whites in the middle and upper income categories. Unemployment too has barely moved from the 23% inherited in 1994 to a post-apartheid average of 24.5%. With 70% of the unemployed under 34, the young are disproportionately affected.Job and export creating mining and manufacturing almost halved their share of GDP to 23% since 1986, while banking and real estate doubled to 24%. At 6.5% of GDP the current account deficit, is the highest among growth market peers while foreign direct investment (FDI) has averaged only $1.9-billion since 1994. The currency exchange rate acts as a “shock absorber.”With public service union membership rising, labour militancy is now as much an issue for government as it is for the private sector.Productivity in the private sector has not kept pace with wage inflation, while the public sector, despite increasing to 2-million employees, has seen its contribution to GDP fall from 19% in 1994 to 15% today. Despite increased budgets, health and education outputs lag emerging market peers on quality and effectiveness of spending when measuring life expectancy and quality of schooling. This is not sustainable. Productivity needs to outpace wage inflation.Since 1994, indebtedness (household debt to disposable income) has soared from 57% to 76%. 9.5-million South Africans have impaired credit records and as many as 10% may risk defaulting. This poses no systemic risk to the banking sector, but represents a potential source of instability.What needs to be done?Click image for a larger view.The government must reduce inequality, increase employment, especially amongst the youth and defend the gains made by the African middle class. It must improve public sector productivity, outputs and effectiveness.With sub-Saharan Africa GDP growing at over 5.5%, South Africa now lives in a “good neighbourhood.” But the anticipated tapering of quantitative easing means the time of easy money is over. South Africa must act fast to raise its game. It must build on its trade and linkages with African and Bric economies, stabilise and revive its job-creating mining and manufacturing sectors, drive technological innovation and research and development, and dramatically increase internet access, especially in schools.In the next 20 years South Africa should aim to raise its GDP annual growth rate from the past 20 years’ average of 3.3%, to 5% thereby growing the size of the economy to $1-trillion by around 2030. Such growth, if attained, would cut both the unemployment rate and debt/GDP % in half, and see GDP per capita double.To stave off its budget, and particularly its current account deficits, we believe net FDI should increase to an average closer to $5- to $10-billion per annum. This will require a more determined focus on improving the investment climate and creating a much more friendly regulatory, productivity and labour picture. To sustain fiscal expenditures, government must leverage state assets to “stretch” its resources.Finger-pointing in this still divided society will not help. A Team South Africa response by business, labour, government and civil society will. South Africa has the people, the talent, the institutions and the capital to do what needs to be done.Nelson Mandela’s dream depends on it.Colin Coleman is a Managing Director and Partner at Goldman Sachs.last_img read more

Join Brand South Africa live on Twitter with Homecoming Revolution’s Angel Jones

first_imgAngel Jones, founder and CEO of Homecoming RevolutionJoin Brand South Africa on Wednesday 18 March for a 20-minute live-tweeting conversation with the inspirational Angel Jones, founder and CEO of Homecoming Revolution. The session will reach out to Global South Africans for questions on contributing to skills and employment in South Africa.Brand South Africa will collect the questions from Global South Africans, and tweet them via its Twitter platform @Brand_SA to @HomecomingRev. The questions will be retweeted by Global South Africans.Brand South Africa will also direct the live Twitter questions it receives during the session to Homecoming Revolution.• Date: Wednesday 18 March 2015• Time: 1pm UK time, 3pm South African time• Hashtag: #GSAHomecoming• For more, visit @Brand_SA, @glosaf and @HomecomingRevAbout Angel JonesAngel is the founder and CEO of Homecoming Revolution, the one-stop platform that brings home African diaspora professionals.With a BA in English and Economics from the University of Cape Town, Jones spent seven years at M&C Saatchi in London before returning home to South Africa. In 2000 she co-founded Morrisjones Advertising, where she created the kulula.com brand, the Wimpy “Foreign” ad, the Bafana Bafana World Cup Parade and the Rubybox “Come to Me” ad.She is a founding member of Entrepreneur’s Organisation South Africa and is a board member of Roedean School. Her accolades include a mention by President Thabo Mbeki in the 2004 State of the Nation Address, SABC Shoprite Checkers Woman of the Year Award in Media in 2004, Ernst & Young World Entrepreneur Awards finalist 2007, and African Leadership Network New Generation Leader 2011.She is married to Carlos Gomes. They have an 11-year-old daughter, a seven-year-old son, two cats and seven chickens.Angel Jones loves• Being African• Being alive in the technology age, in which you can easily communicate with thousands of people around the world• Speaking at events, meeting new people and staying in touchAngel Jones hates• Unbalanced journalism on Africa• Realising she’s using too many exclamation marks• The Comic Sans typefaceWhy Homecoming Revolution?“It was Madiba himself who inspired me to return home from London,” Jones says. “I feel very privileged to be alive at this vital turning point for Africa, and I truly believe that we can play a major role in creating prosperity for Africa”Angel Jones’s favourite quote“The people who are crazy enough to think they can change the world, are the ones who do” – Steve Jobs, AppleAbout the Homecoming RevolutionEstablished in 2003, Homecoming Revolution is the proven brain gain company for Africa, with a focus on South Africa, Nigeria, Kenya, Uganda and Ghana. We introduce worldwide African professionals to employers and relocation services back home.last_img read more