current events summary nov. 28

Countries in southern Africa have been having a hard time with their economies lately. While some countries have made improvements and are growing economically, most of them are still experiencing many problems and are stuck in poverty.
Some people, such as the writer Miriam Isa, think Africa is doing well, considering that the percentage of Africans living in poverty decreased 6% since 1990. But while she (writer) mainly focuses on the growth of African countries' economies, she sort of "admits"/says that there ARE (many) problems with those economies, including how "African exports had declined in importance as a share of national income, with little diversification and innovation" - John Page.
One improvement trying to be made in many African countries is making the internet more accessible to more people, partly due to their "need for opportunities". According to Internet World Stats, about 10% of the population of Zimababwe and South Africa uses the internet. I think if they could bump the percentage up, the economy might do a little better because some business happens over the internet so that would be better off, and people would have more resources for education and such, which might in the long run provide more "skilled laborers." Mobile usage in Africa has grown a lot, which is good, and many African nations are investing lots of money in the telocommunications infrastructure.
There are two different stories, or sides that I encountered about the recent investments in South Africa and other African countries that foreign nations have made. One side is that the U.S., European, and other institutional investors have been investing a lot more lately in African private equity, which, if true, says to me that African businesses must not be doing too bad if big countries are willing to risk lots of money in investing in them. But on the other side, some are saying that investors are losing confidence in southern Africa (a report from South African research company BusinessMap). The risk factors which potential investors scrutinize - political stability, transaction costs, extent of privatisation, and labor and infrastructure costs - have apparently increased, or are at least high enough to make investors hesitate. This "side" views South Africa as the exception because they are doing relatively well and have more investments. As to which "side" is correct, and whether African countries really are being invested in a lot or are not doing so well, I am not sure, but my conclusion is that its a little of both; South Africa and some other countries probably are doing pretty well while other countries are struggling and hence, not being invested in.
There are many problems in the economies of these African countries, and one of South Africa's problems is its lack of skilled labor. Many whites, which are "for historical reasons" considered the most skilled segment, have left South Africa since 1995. So now, there is a shortage of skilled laborers.
Also in South Africa, there have been mining incidents where many workers have been killed, and the rest of the workers are now considering a strike. South Africa is Africa's biggest gold exporter, and the strike would probably stop work at global firms and obviously put a dent in their exports.
General poverty in South Africa is also an issue. The number of people living on less than $1 a day has more than doubled in a decade, and many many people are jobless.
Zimbabwe has been experiencing bank troubles; they ran out of notes, currency has decreased in value and the people cannot get as much money as they asked for because it is sold for higher prices... its just a mess!
So, while there is continued growth in many countries' economies in southern Africa, there are still many problems that need solutions, and a seemingly everlasting amount of poverty that still remains very visibly.