Counting The Cost - Africa's fallen economy - 12 June 09-Pt1
This video looks at the reasons changing levels of income in Zambia. What factors influence income levels in Zambia at a local, national and global level. Watch only the first 4 minutes of this video.
West Africa political instability.
What factors are effecting levels of development in Nigeria? How could these effect education, life expectancy and income?
Africa's Economic Giants: South Africa & Nigeria - Part 1
This is a great video that DESCRIBES AND ACCOUNT FOR THE CHANGING PATTERNS OF INCOME:
Please make notes on one or two of these videos as comments to this Blog post. Please indicate which video you are commenting on.
Africa’s changing patterns of growth:
ReplyDeleteWest Africa Political Instability:
- leaders of west Africa countries met (in Nigeria)
- they went on to discuss the political instability of the region
- 2 days later , a military coup occurred in Niger
- supreme council overthrew the democratically elected president (with the help of high ranking military officials)
- resolve tensions between the government and people
- president tandra has the constitution changed to secure himself 3 more years in office
- he dissolved the parliament as well as the courts in order to do this
- this helped him retain power for more than 100 years
- he lost favour of the international community
Counting The Cost - Africa's fallen economy - 12 June 09-Pt1
ReplyDeleteFactor of affect the income
1. Lots of primary source → income increase
2. Increase of export company → income not evenly distribute
3. The growth of Africa shrink from 5.5% to 1.5%
4. Copper market is shrinking → alternative
5. $256M loan → infrastructure, healthcare, value-added
6. Government ownership to protect worker (nationalized-35% of the share) → gov. heavy burden
7. Government corruption
8. 2/3 export earning is from copper
9. 10% of people in that country work in copper industry
10. Try to make it more efficiency on mining
11. Income decrease → lower education
12. 60% of the population under $2 per day → income decreasing, try to nationalized
13. Tension between keeping a income and
14. Economic transition (copper → value-added) → generation lost
Compare and Contrast
Delete1. Zambia focus on primary resources while Nigeria focus on diversity.
2. Zambia have corruption while Nigeria have rules of laws to prevent corrupt.
3. Zambia don’t have much infrastructure while Nigeria have much infrastructure due to British influence
4. Zambia government focus on investing copper industry and Nigeria focus on investing education
Zambi's change in patter of income:
ReplyDelete- Global financial crisis
- Primary sources- exploitation
-Decline growth in income, from 5.5% to 1.5% sub saharan
-256M IMF loan,
- diversification
- Government take over the mines, to protect their workers from being employed.
- 2/3 of their export earnings in copper
-10% of the working population works in copper.
-"Make the mines more efficient"
- 60% of workers are receiving only 2 dollars a day.
- Attempting to delay the inevitable
-"Loss generation" an age group that would miss out.
Counting the Cost - Africa's fallen economy:
ReplyDeleteFactors affecting the decreasing income growth of Zambia:
- Zambia is rich in primary resources (minerals) -> expect income increasing, however there are issues of exploitation by multinational companies
- Economic growth will decline for 5.5% in 2008 to 1.5% in 2009
- Zambia wants to increase stake in mines to 35%
- Falling global demand -> over reliance on exporting copper
- Zambia should use its $256M IMF loan for infrastructure, education and diversification of the country
- Mine industry nationalized by the government to protect the workers
- Worries and concerns on corruption within the African government
- Workers receive 2/3 thirds of their earning from mining copper
- 10% of the country's working population works in the copper mining industry
- Only solution is to make copper mining more efficient to overcome loss in declining income and global demand
- Income declining will have an effect on the education, food production
- 60% of the population earn less than $2 a day -> this income is predicted to decline further
- Economic transition -> Lost generation of an entire age group
Counting The Cost - Africa's fallen economy
ReplyDelete- Africa income growth decline from 3.5% to 1.5%.
- Zambia $256m IMF loan
- Increase stake in mines 10% - 35% (nationalise industry, protect workers from unemployment)
- Governor corruption
- 2/3 of earnings from copper
- 10% of the people work in that industry
- Copper mine industry losing a billion a year
- 60% of the population earn under $2 a day and it's going to go down
2 countries, Nigeria and South Africa
ReplyDelete- Long road ahead at achieving optimum integration
- Integrating economies to try and make their economy stronger
- Economic co operation is the key to keep a lot of things going e.g. life expectancy
- Nigeria has issued more than 300 passports to south Africans
- Issues of organised crime
- GDP predicted to grow below 3% this year in South Africa
- Africa still has close links with Europe, but this is decreasing their income growth
- They are over dependant
- Nigeria is growing at 6%
- Africa's income growth is 1.5%
- South Africa is very diverse, They aren't just relying on one industry
- They manufacture most of Africa's cars
- Strong economy, education is improving
- What is pushing south Africa forward is the rule of law, infrastructure, access to finance, access to legal services and advice
- Total trade between south africa and nigeria is 23 billion rand from 174 million. (1999 - 2008) a quarter of South Africa's total trade in 2008
- Not trading in primary resource to each other
- SA has over 130 companies working in Nigeria.
Africa's Economic Giants: South Africa & Nigeria
ReplyDelete- half S-Africa GDP comes from these two countries
- working together to maximize efficiency and keep life expectancy , education , income going
- Nigerian government has issued more than 3000 passports
- professional Nigerians come in to stimulate the economy
- relationships between the two countries have worsened because of gang tensions
- South Africa is now the go to country for companies
- The close ties that they have with Europe is decreasing efficiency
- Relying too heavily on multinationals
- GDP is predicted to grow below 3% this year (depending on Nigeria’s starting point)
- Africa 1.5% , Nigeria 6% , S-Africa 3%
- large diverse economy (unlike Zambia)
- manufactures of most of Africa’s cars
- improving education system
- S.A fighting for the rule of law , infrastructure , access to finance and legal advice, better ropads , accounting and reporting
- total trade between SA and Africa has increase from 174 million to 23 billion rand from 1999-2008
- this amount to ¼ for SA total trade in 2008
- most exports to SA are missiles, vehicles (national defense)
- import from Nigeria , machinery , plastic products
- trade volumes has expanded to 30 billion USD
- this will increase because of Nigeria vas natural reserves
- SA has over 130 companies working in Nigeria
Africa continent 1.5 % increase in income
ReplyDeleteNigeria and South Africa working together to expand significantly in the past few years
Integrating economy
Driving economy Nigerians help invigorate SA economy
Nigeria gave passports to South Africa
High Drug, Crime rates which ruined the partnership between SA and Nigeria
SA strong trade practices links with Europe - decreasing level of income growth, transnational corporations
Grow 3% SA
Nigeria 6% depends on Nigeria’s starting point
SA companies diverse, in many sectors, manufacture most of SA cars. Strong economy, education
Pushing SA: Rule of law, prevent corruption, strong infrastructure, access to finance, legal services and advice, accountants
174 million to 23 billion rand trade between SA and Nigeria 10 years Trade in national products, planes, cars , minerals, machinery
Difference between income growth SA, Nigeria compared to Zambia
Causes Zambia focuses on primary resources whilst SA and nigeria douses on diversity and technological resources
SA and Nigeria combined economy working together whilst Zambia is a single country economy
Zambia has high level of corruption whilst SA and Nigeria have a rule of law to prevent corruption.
SA has strong infrastructure due to colonisation of UK for Nigeria and SA therefore british influence has left strong areas less prone to disasters which requires less money in aid and fixing buildings.
Difference between income growth SA, Nigeria compared to Zambia
ReplyDelete- Zambia focuses on primary resources whils SA and Nigeria focuses on diversity and technological resources
- Zambia heavily relies on the copper industry, SA and South Africa are trading resources and have combined their economy to make their growth much stronger
- Zambia has high levels of corruption whilst SA and Nigeria have a rule to prevent corruption.
- Zambia GDP is dropping going from 5.5 to 1.5%
- South Africa increase by 3% and Nigeria increased by 6%
Africa continent 1.5 % increase in income
ReplyDeleteNigeria and South Africa working together to expand significantly in the past few years
Integrating economy
Driving economy Nigerians help invigorate SA economy
Nigeria gave passports to South Africa
High Drug, Crime rates which ruined the partnership between SA and Nigeria
SA strong trade practices links with Europe - decreasing level of income growth, transnational corporations
Grow 3% SA
Nigeria 6% depends on Nigeria’s starting point
SA companies diverse, in many sectors, manufacture most of SA cars. Strong economy, education
Pushing SA: Rule of law, prevent corruption, strong infrastructure, access to finance, legal services and advice, accountants
174 million to 23 billion rand trade between SA and Nigeria 10 years Trade in national products, planes, cars , minerals, machinery
Difference between income growth SA, Nigeria compared to Zambia
Causes Zambia focuses on primary resources whilst SA and nigeria douses on diversity and technological resources
SA and Nigeria combined economy working together whilst Zambia is a single country economy
Zambia has high level of corruption whilst SA and Nigeria have a rule of law to prevent corruption.
SA has strong infrastructure due to colonisation of UK for Nigeria and SA therefore british influence has left strong areas less prone to disasters which requires less money in aid and fixing buildings.
Counting the cost – Africa’s fallen nation
ReplyDeleteZambia
Global financial crisis
Primary sources - exploitation
Decline in growth from 3.5% to 1.5% (sub-saharan Africa)
Zambia: $256 IMF loan
Diversification
Nationalizing the industry so that workers won’t loose their jobs
Government take over the mines, to protect their workers from
2/3 of earnings come from copper
10% of the countries working population is involved with the industry
The country used to produce 750,000 tons. Now earning 1billion US$ a year
The mines support 90% of a town
Internal-
ReplyDeleteStable and developed infrastructure
Diverse economy(not relying solely on one area of development)
External
Abundant multi-national corporations in the country
Strong trade with Nigeria(which ship the raw material and in exchange gets tools)
Nigerian professionals coming into the country