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South Africa : New Year Message by President Jacob Zuma

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Fellow South Africans,

We have come to an end of a very eventful and productive year, which we had dedicated to our leader, the late Oliver Reginald Tambo.

The improvement of the quality of life of our people, especially the poor and the working class, remains a key priority of government, as we work to achieve the type of society that OR Tambo fought for.

In pursuit of this mission, significant strides were made in 2017, in fighting poverty, inequality and unemployment.

Despite serious challenges on the economic front, together we made substantial progress in providing basic services such as electricity, housing, roads, water and sanitation, health care, social grants as well as accessible education.

On the economic front, following a turbulant 2017, we are pleased that we emerged from the technical recession.

The country’s GDP began to show welcome improvements.

In the New Year, we will need to put extra efforts together, to reignite the economy and promote growth and also to make it inclusive and beneficial to all.

The programme of Radical Socio-Economic Transformation will thus be the main focus of government in the year 2018 and it will inform the delivery of our programmes.

Through our Industrial Policy Action Plan and other programmes, South Africa will continue to promote investments particularly in key strategic sectors such as energy, manufacturing, transport, telecommunications, water, tourism, the oceans economy, mining and agriculture.

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We will also continue to lay a firm foundation for greater growth through our infrastructure rollout programme.

We will also intensify investment in education in 2018.

We have already over the years expanded access to free education for children from poor households.

More than nine million children attend no fee schools, which represents at least 80 percent of our schools.

We will continue to eliminate mud schools and inappropriate school structures, replacing them with state-of-the-art buildings, especially in rural areas and other neglected communities.

We announced the provision of free higher education for young people at universities and colleges who come from poor households earlier this month.

The intervention must be the beginning of a skills revolution in our country, in pursuit of the radical socio-economic transformation programme.

Compatriots

We must work harder to build a truly caring society in 2018.

We must work together to eradicate crime, drugs and substance abuse as well as violence against women and children in our communities.

The year 2018 marks the centenary of the late President Nelson Mandela.

We should use the year to celebrate his contribution and promote unity and togetherness in our country.

Let us work together to build a truly united, non-racial, non-sexist, democratic and prosperous South Africa.

Where we disagree, let us do so with dignity and respect and promote unity and cohesion as we build our country together.

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As we enjoy our festive holidays, let us do so responsibly, and promote the safety and security of all in our country together.

We also wish the Matric Class of 2017 success as they await their National Senior Certificate results.

We wish you a happy, fruitful and prosperous New Year, 2018!

I thank you

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Ex-NCC Chair, Akande extols Senator Sarafadeen Ali on his 61st birthday

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Former Chairman of the Nigerian Communications Commission (NCC), Prof. Adeolu Akande, has extended warm felicitations to Barrister Sarafadeen Ali, the Senator representing Oyo South Senatorial district, on the occasion of his 61st birthday.

In a statement released on Saturday in Ibadan, the Oyo state capital, on Saturday, Akande lauded the lawmaker, describing him as a luminary whose life has been marked by distinguished service to the nation.

“Today, I join the world in celebrating you on your special day, as you mark 61 years of God’s abundant love and glorious impact on humanity,” the former NCC gaffer expressed.

He added, “I wish you many more years of God’s grace in your life.”

 

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Labour union protests Heritage Bank’s dismissal of 1,000 workers

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The headquarters of Heritage Bank at Victoria Island, Lagos, was besieged on Thursday by members of the labour union, protesting the recent dismissal of 1,000 support workers.

The National President of the National Union of Banks, Insurance and Financial Institutions Employees, Comrade Anthony Abakpa, led the demonstration, condemning the bank’s management for what he deemed a lack of adherence to due process in the termination of employment contracts.

Speaking during the protest, Comrade Abakpa asserted that the leadership of Heritage Bank failed to follow established protocols before executing the mass layoffs.

He emphasised the union’s commitment to pursuing justice for the affected workers, vowing to escalate their demands until the bank’s management rectifies the situation.

“We will intensify our demands for justice,” declared Comrade Abakpa, urging the bank’s management to take corrective action to address the grievances of the dismissed workers.

 

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Nigeria not using foreign reserves to defend naira, says CBN governor

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CBN governor

The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, clarified that Nigeria is not utilising its foreign reserves to bolster the naira, despite recent fluctuations in reserve levels.

Speaking from Washington DC, where he is attending the International Monetary Fund-World Bank Spring Meetings, Cardoso highlighted the influx of $600 million into Nigeria’s reserves account within the past two days.

While the naira has experienced a notable appreciation against the dollar in recent weeks, climbing over 40% from approximately N1,900/$ to about N1,000/$1, Nigeria’s foreign reserves have been dwindling. As of April 15, reserves dropped to approximately $32.29 billion, marking the lowest level in over six years.

Cardoso emphasised that the shifts in reserves are typical for any country, where various financial obligations, such as debt repayments, necessitate withdrawals.

He stated, “What you’ve seen with respect to the shift in our reserves is normal in any country’s reserves where, for example, debts are due and certain payments need to be made. They are made because that is also part of keeping your credibility.”

Continuing, Cardoso underscored the dynamic nature of the market, advocating for a system driven by willing buyers, willing sellers, and price discovery.

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He emphasised, “The shift in our reserves has really little or nothing to do with defending the naira, and that is certainly not our objective.”

 

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