South Africa

Zuma Warns South Africa’s Economic Recovery to be Slow. (BBC)

Addressing tens and thousands of party faithful over the weekend, Jacob Zuma, South African president said his country will take time to recover from the global financial crises. The aftermath of the recovery he said will come with a lag in job creation. Records indicate that out of every four South African, one is unemployed. All indications show that, recovery will take some time and will be temporary. Mr. Zuma has pledged to create fourteen million jobs by the end of 2014 but has not been able to create 500,000 new jobs last year. South Africa’s economy has suffered tremendously from the global downturn in May last year. The manufacturing and mining sectors recorded slow performances with the construction sector only remaining strong because of high government investment ahead of the world cup.

The president also called on his African National Congress Party to be united in the wake of the upcoming FIFA World Cup tournament this year.