Category: Business- Africa

Windfall revenue from high commodity prices and changes to the way gross domestic product is calculated have brightened the outlook for South Africa’s economy.

With the economy now 11% bigger than previously estimated and tax and mineral royalty revenue likely to overshoot forecasts by R169 billion ($11.2 billion), the following charts show how the country’s prospects have improved.

Economists in a Bloomberg survey expect a consolidated budget deficit of 7.1% of GDP in the fiscal year through March 2022, compared with the National Treasury’s February estimate of 9.3% of GDP.

The budget gap for the previous year, when efforts to offset the initial damage wrought by the coronavirus pandemic upped spending and borrowing commitments, is also likely to have improved.

Still, at an estimated 11.6% of GDP, it’ll match the largest shortfall on record that was set in 1914.

Finance Minister Enoch Godongwana will present the government’s updated projections in his medium-term budget speech on 11 November.

Economists remain bullish on South Africa’s 2021 recovery prospects even as Covid-19 vaccine hesitancy – which leaves the country vulnerable to new strains of infection and stricter lockdown measures — and the resumption of rolling blackouts threaten to weigh on output.

The median estimate of 28 economists surveyed by Bloomberg is for GDP to expand 5.1%. That compares with a previous estimate of 4.7% and comes off a low base in 2020, when virus restrictions caused the economy to shrink the most in at least 27 years.

The recovery would have been stronger, were it not for deadly riots and port stoppages that disrupted activity in the third quarter.

With economic growth prospects seen as fragile, only a third of economists see the central bank raising its benchmark interest rate in November from a record-low 3.5%. Six out of 18 economists in a Bloomberg survey expect the South African Reserve Bank to lift the key rate by 25 basis points, while the rest see it standing pat.

Traders differ, with forward-rate agreements starting in one-month showing a more than 100% chance of a quarter-point increase at next month’s monetary policy committee meeting. Rate-hike bets jumped this month after the central bank warned of upside risks to its inflation outlook.

Read: Ramaphosa on load shedding: ‘We’re not the only country with problems’

Africa’s leading and licensed manufacturer and exporter of Italian and French antique furniture dealers, Jamila Home is making inroads a little over a year of operation in Ghana’s capital, Accra.

Having satisfied its targeted high class clients with quality antique furniture from its West Legon elegant edifice, it has birthed an equally imposing structure on the Christian Village-Pillar Two stretch barely a year on.

Similarly, the Christian Village luxurious showroom deals in artistically iconic interior and exterior décor as well as antique furniture, high-class wallpapers, and ceiling designs.

For more than 20 years, it has worked hard to define luxury for the highly profiled. As a luxury and antique home for furnishing, they do this by producing handmade antique furniture that is well-designed and functional.

Everything from smart home solutions to a large selection of luxury bedroom furniture, antique living room sets, office suites, dining suites, mirror and consoles, vitrines, lighting-( fully bronzed and crystallized chandeliers, wall and side lamps), curtains, and more are found in Jamila Home.

Tailored clients know they design and deliver sustainable, high-quality products of a limited edition. We take pride in delivering to you French-Style masterpieces, offering timeless classic craftmanship with an approach to cater for all tastes with a different collection of the finest artisans and Ebenistes of the beautiful era like Francois Linke, Jean-Henri Riesener (The favorite cabinet-maker of Marie Antoinette), Joseph-Emmanuel Zwiener, Andre Charles Boulle, Charles Crescent, Antoine Gaudreaux, Roger Vander cruse Lacroix, Pierre Antoine Foullet, Gilles Joubert and much more.

They also offer interior and exterior designing services, with its quality wood seam binders and divider walls, Italian 3D wallpapers, customized POP designs to complement. Our customization services help to complete the image of the creation with our vast collection of more than 1000 products and French masterpieces. Our Fountains, statues and taxidermy all include the quality home accessories we provide.

Jamila Home has become the preferred destination for many due to its age, beauty, rarity, condition, utility, personal emotional connection, and other unique features.

It is an object that represents a previous era or time period in human history.

Antiques have been highly valued and cherished for God knows how long over a couple of centuries now.

At Jamila Home, antique products are unique and high quality; all products at Jamila Home is of luxurious high standard designed furniture.

Jamila Home products are specially designed antique with 18 karat gold plated touches.

It is undoubtedly ranked among the best showrooms with grafted antiques and designs on the Continent.

 

 

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