Latest news with #FifaWorldCup
Straits Times
19 hours ago
- Politics
- Straits Times
US refuses visas for members of Senegal's women's basketball team, says PM
Senegal Prime Minister Ousmane Sonko told the country's minister of sports to cancel what was to have been a 10-day training camp in the US. PHOTO: AFP US refuses visas for members of Senegal's women's basketball team, says PM DAKAR - The United States rejected visa applications for multiple members of Senegal's women's basketball team which was scheduled to train in the country, the country's prime minister said on June 19, as he cancelled the group's participation in the practice. The visa refusals come amid US President Donald Trump's administration's immigration crackdown and tightened border controls. The United States is set to co-host the 2026 Fifa World Cup and the 2028 Olympics in Los Angeles. Senegal is among 36 nations that the United States is considering adding to a travel ban barring entry to its territory, according to an internal administration memo. Senegalese Prime Minister Ousmane Sonko posted on Facebook that he had been 'informed about the refusal to issue visas to several members of the Senegalese women's national basketball team'. He said that he had instructed the country's minister of sports to cancel what was to have been a 10-day training camp in the US. According to Mr Babacar Ndiaye, president of the Senegalese Basketball Federation, the US only renewed visas for 'those who held old visas and rejected new requests'. Les Lionnes had been slated to train in the US ahead of the Afrobasket 2025 tournament in Ivory Coast, which begins in July. A spokesperson for the US State Department told AFP that it was not able to comment on individual cases, while the US Embassy in Senegal did not reply to a request for comment. In addition to pulling the plug on the training, Prime Minister Sonko thanked China for having 'awarded dozens of training scholarships for our athletes and their coaches'. AFP Join ST's Telegram channel and get the latest breaking news delivered to you.
Daily Maverick
a day ago
- Business
- Daily Maverick
We have an investment strike! Reviving SA's economy through domestic investment
Domestic investment, commonly known in economics as gross fixed capital formation (GFCF), is a critical driver of sustained and accelerated economic growth. It encompasses the total value of purchases made by the government, state-owned enterprises and the private sector of fixed assets, including infrastructure, machinery, equipment and buildings. At its core, domestic investment focuses on enhancing the economy's productive capacity, boosting competitiveness and creating a foundation for future job creation and income growth. Sustained high levels of investment at between 25% and 30% of GDP are needed in South Africa to get the economy to grow above 3%. Domestic investment plays a vital role in driving economic growth, enhancing productivity and generating employment opportunities. Consistently high levels of GFCF are often indicative of a nation on a positive growth trajectory, where increased capital investment leads to better living conditions, technological progress and stronger economic resilience. Moreover, GFCF is closely linked to investor confidence and future outlooks – when businesses and the government invest in long-term assets, it reflects a positive sentiment and a commitment to the country's development and prosperity. In emerging economies such as South Africa, where unemployment and inequality are deeply rooted, domestic investment – particularly in infrastructure – is crucial for fostering inclusive growth by boosting short-term economic activity and enhancing long-term productivity and access. Despite its vital role in economic growth, South Africa's GFCF as a proportion of GDP has been alarmingly low and on a downward trend for over a decade, falling from around 24% in 2008 to below 15% in recent years, significantly short of the National Development Plan's 30% target. This sharp decline signals deeper structural issues in the economy. South Africa has been trapped in a low-growth, low-investment environment where a lack of investor confidence, policy uncertainty and deteriorating public infrastructure deter both private and public sector capital expenditure. In 1993, at the dawn of the new democratic dispensation, the domestic investment to GDP ratio was as low as 11.2%. By 2010, with the Fifa World Cup in SA, investment peaked at 18.7%, and in 2024 it had dropped back to 14.2%. In the first quarter of 2025 the ratio was even lower at 13.5%. From 2010 to 2025, GDP annual average growth was only 0.3% while domestic investment was a very disappointing -0.12%. This sustained decline reflects waning investor confidence, policy uncertainty and weak economic fundamentals. Low investment undermines future productive capacity, employment creation and long-term economic growth potential. Figure 1 illustrates domestic investment at constant prices from 2010 to 2025, disaggregated by the government, state-owned enterprises (SOEs) and the private sector, revealing a clear trend of decline and stagnation. Government and SOE investment dropped from 6.3% of GDP in 2010 to 3.9% in 2025, while private sector investment decreased from 11.5% to 9.7% over the same period. Additionally, the ratio of private to public investment shifted significantly from 1.8:1 in 2010 to 2.3:1 by 2025. This indicates severe fiscal constraints, inefficiencies in public investment management and weakened state capacity to drive infrastructure development, which traditionally plays a catalytic role in crowding in private investment. The private sector is increasingly disengaged owing to uncertainty, infrastructure bottlenecks, regulatory issues and energy challenges. The rising ratio does not reflect strength in private investment, but rather relative collapse of public sector investment. Table 1 presents a summary of investment by type from the first quarter of 2010 to the first quarter of 2025, highlighting a clear structural shift. Most categories have seen a decline in their contribution to overall investment, apart from machinery and related equipment (including computers), which increased by 23.8%, the only category showing positive growth over the period. This suggests a structural shift towards more capital-efficient, tech-based investment likely driven by cost-cutting, automation and digital transformation. However, the decline in construction-related investments reflects stalled infrastructure and housing development, further hampering job creation and urban development. Table 2 indicates the contribution of the various sectors to investment from 1995 to 2024. Over the 30-year period, only three sectors had positive growth rates namely trade (with catering and accommodation), agriculture and manufacturing. All the other sectors had negative growth rates. The economic base sectors (agri, mining, manufacturing and tourism) did well with a combined contribution to investment in 1995 of 37.5%, which increased to 41.3%. These gains suggest potential green shoots in export-linked or value-added sectors, but broader deindustrialisation and disinvestment remain a concern: Electricity, water, finance and transport, which are critical for economic infrastructure, all saw sharp declines. Mining investment (-15.5%) declined despite being a traditional backbone, likely owing to policy and regulatory uncertainty. Several key factors contribute to South Africa's weak investment performance: Low economic growth and business confidence: Investors, as rational decision-makers, allocate capital where they anticipate future returns. However, South Africa's weak economic performance, averaging below 1% annual growth over the past decade, has diminished these expectations. Adding to this, political instability, corruption scandals and governance shortcomings have significantly weakened business confidence; Energy, infrastructure and supply-chain constraints: The persistent electricity crisis has severely hindered production and heightened operational risks for businesses. Load shedding deters investment, particularly in energy-intensive sectors such as mining and manufacturing. When combined with inadequate infrastructure investment and maintenance, the overall appeal and value of investing have been significantly diminished; Policy uncertainty, lack of a strategic plan and regulatory complexity: South Africa's record of shifting policies, ranging from land expropriation without compensation debates to unclear mining regulations, has created uncertainty that inhibits new investment; Government fiscal constraints: Government debt has reached a fiscal cliff of 75% to GDP. This growing debt weak financial management with ineffective expenditure have significantly reduced capital budgets and investment in especially infrastructure; and Poor governance, weak leadership, poor institutional capacity and ongoing corruption: Poor governance and corruption are deeply entrenched in all spheres of government, and transgression has no consequences. The data indicates entrenched structural weaknesses such as poor governance, limited strategic planning and weak leadership, and a lack of investor trust. If South Africa is to break free from the current cycle of stagnation, decisive action is needed to revive domestic investment. The following policy interventions are essential: Build infrastructure capacity and well-functioning supply-chain systems; Implement a plan, create policy certainty, and reduce regulatory complexity; Restore good governance at all levels including municipal and SOE capacity; Boost business confidence and support SMEs; Leverage the green economy potential and digital transitions; Crowd in private investment, simplify investment processes and provide targeted incentives for manufacturing and technology upgrades; Sectoral investment strategy: Leverage growth in agriculture, manufacturing and trade to drive reindustrialisation and rural development; and Improve investment efficiency: Use public-private partnerships (PPPs) and performance-based budgeting to ensure quality and accountability. Conclusion: A time for good governance and new bold leadership The South African economic ship needs to change direction through various structural change strategies. Domestic investment is a critical driver of economic growth and development. We need to escape the downward spiral of stagnant growth and increasing unemployment. Restoring investor confidence is one of the strategies through good governance, clear policy guidelines and by reducing regulations. Achieving this will require strong political leadership and a firm commitment to long-term national development over short-term political interests. DM
NZ Herald
3 days ago
- Sport
- NZ Herald
Auckland City v Bayern Munich: 10 factors behind the Fifa Club World Cup mauling
Auckland City FC's 10-0 thumping at the hands of Bayern Munich was a new record defeat at a Fifa club tournament and also exceeded the previous-highest margin at a Fifa World Cup. The amateur team were always going to be rank outsiders, in one of the greatest underdogs scenarios in
The South African
4 days ago
- Sport
- The South African
Pirates chase PSL winger, while Chiefs seek Mayele's alternative
Orlando Pirates are hopeful they will sign uSuthu star Tshepang Moremi, who recorded ten goal contributions last campaign. The 24-year-old, who is also being monitored by Mamelodi Sundowns and Kaizer Chiefs, expressed his desires to partake in soccer's biggest stages, saying, 'I'd say that I am looking forward to keeping on improving. I aim to see myself playing in the Afcon and the Fifa World Cup, so I want to score goals and rack up assists.' Moremi has each of the PSL's big three after his signature, a testament to his skill and potential. 'There has been interest in Tshepang, and it's not only from Chiefs or Pirates,' a source revealed. 'Mamelodi Sundowns are also believed to be interested in him. However, the issue will be with AmaZulu, as they are not ready to release him unless the money is too good.' Meanwhile, Orlando Pirates' bitter rivals AmaKhosi are eyeing a Congolese attacker – and it's not Fiston Mayele. The player in question is Young Africans attacking midfielder Maxi Ngenzeli. 'At the moment the club has not yet signed some of the players who they want nor those they are looking at. It's believed that they are spreading the search wide so that they can get the kind of players they really need this season,' an inside source said. 'Apparently, Maxwell Nzengeli is one player they are also looking at. Coach Nabi knows him already, and the scouts and recruiters are also believed to have liked him and are looking at the possibility of getting him, depending on the conditions around the transfer.' Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1 Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news.
The South African
5 days ago
- Sport
- The South African
Orlando Pirates news: Moremi and Riveiro
Betway Premiership giants Orlando Pirates are set to announce Tshepang Moremi sooner rather than later. The need for Moremi comes before the imminent exits of Orlando Pirates wingers like Gilberto and Katlego Otladisa. The speedy winger recently spoke to the media after making his official international debut for Bafana Bafana. It was the 0-0 draw against Tanzania at the Peter Mokaba Stadium on 6 June. 'I'd say that I am looking forward to keeping on improving. I aim to see myself playing in the Afcon and the Fifa World Cup, so I want to score goals and rack up assists,' Moremi said via Sowetan … Full story here. Al Ahly's FIFA Club World Cup coach, Jose Riveiro, has cleared the air on why he left Betway Premiership giants Orlando Pirates in April. Days before Riveiro took Al Ahly to the FIFA Club World Cup to open the tournament against Lionel Messi's Inter Miami, the Spaniard spoke to the media about his exit from the Buccaneers. According to the former Orlando Pirates mentor who lifted three MTN8 titles and two Nedbank Cup trophies, it was time for new horizons. Mamelodi Sundowns news: Coetzee and Feutmba 'There was a narrative about my decision to leave Pirates. I have never said I'm going because of the distance. I did not leave in order to be close to my family,' said Riveiro on Metro FM . Junior Khanye: 'Tau can't goto Chiefs or Pirates' 'The distance from your own country and from your family can be a problem, but it's not the only thing. You know, when you think about taking your family with you, it is not an easy decision, trust me. It's more about our role in the club,' the former Orlando Pirates tactician added. 'The possibility that you change, maybe your family life, but in the end, maybe after two months, you have to be back at home… Full story here.
