Much to the expectation of analysts, the Reserve Bank has decided to keep the repo rate unchanged at 5.5% at the first meeting of the Monetary Policy Committee (MPC) this year.

The repurchase (repo) rate is that rate at which the Reserve Bank lends money to commercial banks, who in turn lend money to corporate and individual consumers at a higher rate, the prime interest rate – which is currently the repo rate plus 3.5%.

"The Monetary Policy Committee has decided to keep the repurchase rate unchanged at 5.5% per annum," Reserve Bank Governor Gill Marcus said at the end of the MPC meeting in Pretoria on Thursday.

The central bank said the main downside risk continued to come from global economic developments.

Analyst David Shapiro earlier today said he expected the repo rate to remain unchanged. "It is a matter of holding down," he noted, adding that although the economy was starting to show signs of recovery, there were a lot of disruptions in the economy last year, such as industrial action.

In December, the Consumer Price Index (CPI) remained at 6.1% for the second month in a row breaching the central bank's target range of between 3% and 6%. Food prices, fuel as well as administered prices played a role in December's figure.

Inflation to peak at 6.6%

The central bank added that it now expected inflation to remain above the upper end of the target range for a "more extended period".

Inflation is now expected to remain outside the upper end of the target range for the whole of 2012, and to peak in the second quarter of 2012 at around 6.6% before declining gradually and returning to within the target range in the first quarter of 2013.

Inflation is expected to measure 5.5% in the final quarter of 2013. The Bank's forecast of core inflation, which excludes food, petrol and electricity, shows a moderately rising trend, with the peak of around 5.5% expected in the first two quarters of 2013.

According to the central bank, the outlook for domestic inflation and economic growth has deteriorated since the previous MPC meeting, posing a serious challenge for monetary policy going forward.

The primary reason for the worsening domestic growth outlook is the risk of contagion from the persistent crisis in Europe, which shows no sign of a speedy resolution, the bank added.

"The MPC remains of the view that inflation pressures are primarily of a cost-push nature, but it is concerned that a persistent upward trend in inflation and prolonged breach of the inflation target could have an adverse effect on inflation expectations which could reinforce the upward inflation dynamics.

"The MPC is also cognisant of the slowing domestic economy and feels that given the lack of demand pressures, monetary tightening at this stage would not be appropriate," said Marcus.

She added that the global outlook remained clouded by the worsening conditions in the Eurozone. "It is now generally accepted that the Eurozone is likely to experience a recession in 2012, but the extent and duration is still uncertain."

Growth outlook remains subdued

According to the Bank's forecast, the annual real growth rate in 2011 is estimated to have been in the region of 3.1%, but the outlook for 2012 and 2013 has deteriorated relative to the previous forecast, mainly due to a downward revision to the global growth assumption.

Growth in 2012 is expected to average 2.8% compared with 3.2% in the previous forecast, while the forecast for growth in 2013 has been revised down from 4.2% to 3.8%.

"The MPC maintains a preference for a stable interest rate environment given the conflicting pressures on monetary policy at this stage.

"However the Committee will continue to monitor domestic and global economic and financial developments and the risks to the outlook, and remains ready to act appropriately to ensure the attainment of the inflation target over the medium term while being supportive of the domestic economy," said Marcus.

The last time the central bank cut the repo rate was in November 2010 - cutting it to its lowest in a period of 30-years.

SAinfo reporter and BuaNews

Francis Hweshe

The National Institute for the Deaf (NID) has called for sign language to be recognised as one of South Africa's official languages.

According to the NID, sign language is the fifth most used language in the country, with more people using it, for example, than those who speak SiSwati, IsiNdebele and TshiVhenda.

The NID said that about four-million South Africans had hearing difficulty, while 1.5-million were "profoundly deaf", with 93 percent of the deaf being unemployed.

This was revealed during public hearings on the South African Language Bill hosted by Parliament's portfolio committee on arts and culture in Cape Town on Tuesday.

Several organisations and individuals were set to add their input into the Bill. These include the Pan South African Language Board, the Law Society of SA, Afrikaanse Taal en Kultuur Vereniging, Vriende van Afrikaans, and FW De Klerk Foundation.

Ernest Kleinschmidt, one of the board directors at the NID, was one of those invited to add his voice to the Bill. He made a compelling appeal for the recognition of sign language.

"I'm a deaf person. I'm proud of the language I use," Kleinschmidt told the house, asking if there were people who did not use sign language in their daily life. He said people used sign language to express themselves, adding that "without communication, we are all deaf and dumb".

Avoidable suffering

He asked that the Bill be crafted to include sign language as one of the official languages in the country.

The NID said many deaf children suffered both at school and at home as they were not understood.

Committee chairperson Thandile Sunduza said the South African Constitution had to be amended to accommodate the language.

Among other things, the South African Language Bill seeks to provide for the "regulation and monitoring of the use of official languages by national government for government purposes". It calls for the adoption of language policies by national government departments, national public entities and national enterprises.

It also proposes the identification of at least two official languages that "a national department, national public entity or public enterprise will use for government purposes".

Indigenous languages

During his submissions, Dr Neville Alexander of the Xhosa Africa Network called for government and non-profit organisations to preserve indigenous languages.

"If we are serious about democracy, we should take indigenous languages seriously," Alexander said, indicating that democracy depended on people being able to communicate with each other.

He said the government should review the "language dispensation in this country".

"Languages can cause conflict, but they can also reconcile people," he said, cautioning that the language debate should not be a racial one.

He said languages such as Afrikaans, IsiZulu and IsiXhosa were equal, and called for each province to have a Language Act. Currently, only the Western Cape and Limpopo had legislative pieces governing languages.

Source: BuaNews

South Africa is a culturally diverse country, one nation made up of many peoples.

South Africa's national women's football team, Banyana Banyana, will have a smooth and trouble-free arrival in the United Kingdom ahead of the London Olympic Games next year.

The UK Border Agency has visited the team's headquarters to capture all the required information which will ensure that they enter the UK without any hassles.

Head of communications at the British High Commission, Gary Benham, said their office in Pretoria had been working with the South African Sports Confederation and Olympic Committee (Sascoc) to ensure that South Africa's Olympic athletes and officials avoided long queues when they arrived in the UK.

Exempt from visa requirements

Benham said that, while all members of the Olympic family were exempt from visa requirements for the Games, everyone entering the UK needed to provide biometric information in the form of digital photographs and fingerprints to immigration officials.

"Our visit to the Banyana Banyana team has helped us to capture all of the required information, which should mean the team will have a smooth and trouble-free arrival in London," Benham said in a statement this week.

"We hope to call on other sports federations, as and when qualification becomes confirmed, so that every member of Team South Africa can concentrate on the important business of winning medals during the greatest show on earth."

African qualifiers

Banyana Banyana and Cameroon will be the two African representatives in the elite 12-team women's football competition.

South Africa qualified for the Games by defeating Zambia, Tunisia, and Ethiopia over two legs.

Banyana, along with Cameroon and Nigeria, are up for the African Women's Team of the Year at the annual Confederation of African Football Awards, which take place later this month.

South African striker Nompumelelo Nyandeni has been nominated in the category Women's Player of the Year.

The 2012 Olympic Games kick off on 27 July.

Source: BuaNews

The Rainbow Nation

South Africa is a culturally diverse country, one nation made up of many peoples.

President Jacob Zuma has congratulated the South African delegation for their "outstanding achievement" at the UN climate summit (COP 17) in Durban.

Zuma, who is currently on a working visit to Benin, telephoned International Relations Minister Maite Nkoana-Mashabane, the president of COP 17, and Water and Environmental Affairs Minister Edna Molewa, the leader of the SA delegation, on Sunday to congratulate them on the outcome of the conference.

"The outcome in Durban is a coup for Africa," Zuma said. "Issues that had taken so long to resolve have been resolved on our soil. We are very happy and proud of the South African team that worked so hard with the United Nations Framework Convention on Climate Change (UNFCCC) to make Durban succeed.

"This is a moment of glory for South Africa and Africa."

'Well done to Team South Africa'

He also praised South Africa's COP 17 inter-ministerial committee, the Premier of KwaZulu-Natal and the Mayor of eThekwini Municipality, saying the "whole team has done exceptionally well and has made us walk tall."

Zuma also thanked local and foreign media, civil society, especially the Congress of SA Trade Unions (Cosatu), the interfaith sector, women's organisations and other stakeholders for their contribution to the conference's success.

"We cannot forget the people of eThekwini and surroundings who, as usual, welcomed the guests with open arms and warmth. Well done to Team South Africa! We did it again through working together."

The Durban Platform

After two weeks of negotiations, the parties at COP 17 agreed on a clear pathway to a legally binding instrument that will compel all countries, including the biggest polluters, to take action to slow the pace of global warming.

The package of agreements making up the "Durban Platform" also include a new commitment period for the Kyoto Protocol, the launch of the Green Climate Fund, and the implementation of the agreements made in Cancun, Mexico in 2010.

For the first time, governments agreed to adopt a universal legal agreement on climate change - one that includes both rich developed countries like the US as well as developing giants such as China and India - to be decided on not later than 2015 and to come into force by 2020.

Work on this will begin immediately under a new group called the Ad Hoc Working Group on the Durban Platform for Enhanced Action.

Governments, including 35 industrialised countries, also agreed a second commitment period of the Kyoto Protocol from 1 January 2013 - the current period expires on 31 December 2012.

To achieve rapid clarity, parties to the second period will turn their economy-wide targets into quantified emission-limitation or reduction objectives and submit them for review by 1 May 2012.

'Common but differentiated responsibilities'

Also agreed on in Durban was an advanced framework for reporting emission reductions that covers both developed and developing countries while taking into account the principle - something developing countries had been pushing hard for - of "common but differentiated responsibilities" of different countries.

In addition to charting the way forward for reducing greenhouse gases in the global context, governments meeting in South Africa agreed the full implementation of the package - agreed to in Cancun, Mexico in 2010 - to help developing nations adapt to and mitigate the worst effect of climate change.

The package includes the Green Climate Fund, an Adaptation Committee designed to improve the coordination of adaptation actions on a global scale, and a Technology Mechanism, all of which will become fully operational in 2012.

Assistance, funding for developing countries

Countries have already started to pledge to contribute to the start-up costs of the Green Climate Fund, meaning it could be made ready in 2012.

A focused work programme on long-term finance was agreed to, which will contribute to the scaling up of climate change finance going forward and will analyse options for the mobilisation of resources from a variety of sources.

With regard to adaptation, the Adaptation Committee will report to the COP on its efforts to improve the coordination of adaptation actions at a global scale.

The adaptive capacities of the poorest and most vulnerable countries are to be strengthened, with the most vulnerable to receive better protection against loss and damage caused by extreme weather events related to climate change.

Governments also agreed to a registry to record the mitigation actions of developing countries that need financial support and to match these with support.

SAinfo reporter and BuaNews

United Nations (UN) Secretary-General Ban Ki-moon welcomed the set of decisions reached at the UN climate summit in Durban, South Africa on Sunday, saying they represented "a significant agreement that will define how the international community will address climate change in the coming years".

After marathon negotiations extended over the weekend, the 194 parties to the UN Framework Convention on Climate Change (UNFCCC) agreed on a historic package of decisions known as the "Durban Platform".

New protocol or 'legal instrument'

These include the launch of a protocol or "legal instrument" that will apply to all members, a second commitment period for the existing Kyoto Protocol, and the full implementation of the Green Climate Fund.

In a statement on Sunday, Ban said the Durban Platform would be "essential for stimulating greater action and for raising the level of ambition and the mobilization of resources to respond to the challenges of climate change."

Ban also welcomed the agreement to establish a second commitment period of the Kyoto Protocol, saying it would "increase certainty for the carbon market, and provide additional incentives for new investments in technology and the infrastructure necessary to fight climate change."

Cancun Agreements to be implemented

Ban said he was gratified that the countries in Durban had reached a decision to implement the Cancun Agreements created at last year's conference in Mexico.

The new measures, which will come into full effect in 2012, include setting up a Technology Mechanism that will promote developing country access to clean, low-carbon technologies, and establishing an Adaptation Committee to coordinate activities to adapt to climate change on a global scale.

Ban welcomed the agreement to launch the Green Climate Fund, added that he was gratified that a number of countries had signalled their intent to contribute to it.

The Fund was created following the Cancun talks to help developing countries protect themselves from climate impacts, but had not been launched yet, and Ban had urged developed countries throughout the two-week conference in Durban to inject the necessary capital to kick-start it.

"Taken together, these agreements represent an important advance in our work on climate change," Ban said, calling on countries to "quickly implement these decisions and to continue working together in the constructive spirit evident in Durban."

SAinfo reporter

Sport Minister Fikile Mbalula has thrown his weight behind the South African under-23 squad as they fly out for an eight-nation African Olympic qualifying tournament in Morocco.

The tournament, running from 26 November to 10 December, will determine the African qualifiers for the 2012 London Olympic Games.

"I strongly believe that this team has the potential to conquer in Morocco," Mbalula said on Wednesday. "We wish them well, and they must go and fight to win.

'They look hungry'

"After interacting with the boys, I can tell you that they look hungry to make history," Mbalula said. "They've got the support of the nation, all they need to do is to go there courageous and confident to win, and I believe they are capable of doing that."

South African Football Association (Safa) president Kirsten Nematandani said: "We want these boys to leave our shores with pride; we want them to understand that the entire nation is behind them."

The Caf Under-23 Championships was initially scheduled to be played in Egypt, but was moved following the political uprising in that country.

Agreement reached with PSL

A week ago, some Premier Soccer League (PSL) teams refused to release their players, but following a meeting with a committee comprising members of both Safa and the National Soccer League, it was agreed that coach Shakes Ephraim Mashaba and his technical team would get all the players they need.

PSL teams also agreed during a board of governors' meeting to release the requested players, and that PSL teams whose players were taking part in the tournament would have their games postponed.

Good spirit

Mashaba, who thanked the PSL teams for releasing players to enable him to make up a 21-man strong squad, described the spirit in his camp as very high.

"From what I saw in our three training sessions, I can tell you that these boys are ready to face any team and emerge victorious; we have the best team right from the back to the strikers," Mashaba said.

"We want to promise South Africans that we are committed to bring what they are expecting us to bring back for them."

Black Leopards striker Rodney Ramagalela said: "Everyone at the camp is willing to make the nation proud, and I will not be goal-shy if I get an opportunity to play. I am in the squad to score goals."

Orlando Pirates striker Bongani Ndulula will not be part of the team after he was injured during the two friendly matches the squad played in Algeria.

South Africa has been drawn in group B along with Gabon, Ivory Coast and Egypt. Mashaba's charges will open their campaign with a match against Gabon on Saturday, 26 November.

Source: BuaNews

South Africa is a culturally diverse country, one nation made up of many peoples.

South Africa and Russia have agreed to increase their cooperation in energy, technology, trade and investment following a meeting of the Intergovernmental Committee on Trade and Economic Co-operation (Itec) between the two countries.

Itec is a platform for the South African and Russian Federation governments to enhance cooperation and relationships that already exist between the two governments, their people and businesses.

The meeting, which took place in Pretoria on Wednesday and Thursday, was chaired by International Relations and Cooperation Minister Maite Nkoana-Mashabane and Russian Minister of Natural Resources Yuri Petrovich Trutnev.

Although strategically poised, bilateral trade between South Africa and Russia has fallen below its potential.

To strike a balance, the two ministers agreed to take steps to increase trade, while shifting the focus to high value-added products, as well as to enhance cooperation in high-technology areas.

New trade and investment opportunities

Nkoana-Mashabane told a media briefing after the talks that South Africa and Russia would exploit new trade and investment opportunities and identify and resolve potential obstacles in areas of cooperation.

"This will facilitate economic competitiveness, develop skills, generate sustainable jobs and contribute towards an improvement in the livelihoods of the peoples of South African and Russia," Nkoana-Mashabane said.

Russia, which has highly skilled people in science and technology, offers huge opportunities for trade and investment partnerships, especially in minerals, energy, agriculture, education and skills development.

Nkoana-Mashabane was confident that the accession of South Africa to the BRICS group (Brazil, Russia, India, China and SA) would increase the potential for future cooperation, especially in science, technology and space exploration.

SA, Russia 'complement each other'

Commenting on Russia's investment direction in SA, Petrovich Trutnev said the cooperation was diversified and that the two countries complemented each other in different areas such as minerals, energy, space and raw materials, gold and diamonds.

Petrovich Trutnev was confident that great things lay on the horizon for Russian and South African trade.

Total trade turnover between South Africa and the Russian Federation increased by 6.42% in 2009, from US$484-million to $517-million.

The two parties also agreed to frequent interaction through the business council in order to enhance knowledge of commercial opportunities, while prioritising capacity building and skills transfer, particularly in high-technology areas.

Square Kilometre Array bid

On issues of mutual interest, Pretoria hoped that the BRICS countries would cooperate in securing Africa the Square Kilometre Array (SKA) radio telescope.

If Africa wins the bid against Australia – a decision expected in March 2012 – this would be a major step in developing high-level skills and cutting-edge technology infrastructure in Africa, and attract expertise and collaborative projects to the continent.

For its part, Russia flagged their confidence in South Africa ahead of the 17th Conference of the Parties (COP 17) on climate change in Durban later this year.

The meeting was sealed by the signing of two agreements on solar cooperation.

The next Itec meeting will be held in 2012.

Source: BuaNews

South African Deputy President Kgalema Motlanthe is on a working visit to China, where he will meet Vice-President Xi Jinping to evaluate the implementation of the Beijing Declaration establishing a comprehensive strategic partnership between the two countries.

The agreement, signed during President Jacob Zuma's state visit to China in August 2010, outlined SA and China's commitment to encouraging trade in manufactured value-added products, encouraging investment in SA's manufacturing industry, and promoting value-added activities in close proximity to the source of raw materials.

The countries also agreed to co-operate and provide mutual technical support in the "green" economy, to develop skills, provide industrial financing and encourage companies from both countries to work together on infrastructure projects.

On Tuesday, Motlanthe held a meeting with Party Secretary of Shanghai Municipality Committee of the Communist Party, Yu Zhengsheng. He was later hosted by Zhengsheng at a dinner.

He also delivered a public lecture at the China Executive Leadership Academy.

On the last day of his trip, Friday, Motlanthe is to meet Chinese President Hu Jintao.

South Africa and China enjoy cordial bilateral political and economic relations. At the political level, South Africa regards China as a key player in the global debates that characterise the shift to multi-polarity.

China's developing country status, its identification as a member of the Global South, BRICS and the G77 in the UN are elements that carry significance for South Africa.

For China, South Africa is a major player in Africa and thus an important partner in its broader African engagement strategy.

Trade exports from South Africa to China amount to over R39-billion; imports from China amount to over R43-billion, with a trade deficit of R3-billion in favour of China from January to June 2011.

Motlanthe is being accompanied on his trip by Trade and Industry Minister Rob Davies, Public Enterprises Minister Malusi Gigaba, Energy Minister Dipuo Peters, Mineral Resources Minister Susan Shabangu, Deputy Finance Minister Nhlanhla Nene and Deputy International Relations Minister Ebrahim Ebrahim.

Source: BuaNews

28 September 2011

British contemporary sculptor Ben Dearnley has created a bronze torso sculpture of South African Paralympic icon Oscar Pistorius, which will go on display in London as part of an exhibition ahead of the 2012 Olympic and Paralympic Games.

Pistorius's model will form part of Dearnley's series of 18 life-sized sculptures of celebrated athletes from both sets of games. They will go on show at the Avenue of Champions exhibition at Salisbury Cathedral next year.

The sculpture was unveiled by Pistorius and former UK sprinter Iwan Thomas at London's Trafalgar Square on International Paralympic Day earlier in September.

UK Prime Minister David Cameron, London Mayor Boris Johnson, former athlete and head of the London 2012 Organising Committee chair Lord Sebastian Coe, and many Paralympic athletes were also in attendance.

World champion sprinter

Including Pistorius in the exhibition was an obvious choice for Dearnley. "My sculpture of Oscar is just a small way of honouring his commitment to be free from his disability," Dearnley says.

Pistorius was born without a fibula in both legs. On the recommendation of leading medical specialists, his parents decided to have his legs amputated below the knees, as this would give him the best chance of learning to walk later in life.

Six months after the operation, Pistorius received his first pair of prosthetic legs and within days he learnt to walk with them.

Years later, he went on to become a world champion sprinter and the first Paralympian to win gold in the 100m, 200m and 400m sprints in Beijing in 2008.

His athletic ability has earned him the name of the "fastest man on no legs". He runs with the aid of Cheetah Flex-Foot carbon fibre transtibial artificial limbs, which is why he has come to be known as South Africa's Blade Runner.

Art in motion

Dearnley had an opportunity to arrange a casting session in May, when Pistorius was in Manchester for the Paralympic World Cup.

The Bath-based artist speaks with great admiration about working with Pistorius: "I jumped at the chance, as I know what an amazing athlete he is and what an inspiration he is to so many."

When making a sculpture of an athlete, the first step is to study them in motion. The artist studied Pistorius in action at the indoor track where he was training. "I see his running motion as a kind of flight, somewhere between the ground and the sun. His blades mean that nothing of himself is actually in contact with the ground," Dearnley explains.

He also had to decide on the best position for the casting, which is vitally important when working on a sculpture of an athlete. He wanted the Pistorius torso to reflect his movement, which is key to his success.

Pistorius was required to hold the position for up to 20 minutes while the casting plaster was applied to his body. The next step was to sculpt the torso in plaster and then get it made in bronze at the foundry.

"The colour patination of the bronze is sky-blue in reference to his flight," Dearnley says. Pistorius's signature is also engraved into the bronze, which shows as gold. "I polished a golden highlight around the top edge, which is a reference to the sun."

Pistorius has already challenged convention by running in the IAAF World Championships against able-bodied athletes and Dearnley says he has no doubt the South African will continue to "shake up the establishment" with record-breaking achievements.

"The sculpture captures for all time a true fragment of the athlete, frozen in mid-flight," he says.

First published by MediaClubSouthAfrica.com – get free high-resolution photos and professional feature articles from Brand South Africa's media service.

The Rainbow Nation

South Africa is a culturally diverse country, one nation made up of many peoples.

Nobel Peace Prize winners Archbishop Emeritus Desmond Tutu and former president FW de Klerk have pledged their support for Table Mountain – Nelson Mandela's "mountain of hope" – in the race to be named one of the New 7 Wonders of Nature.

South Africa's flat-topped wonder has already been voted one of the final 28 sites for the New 7 Wonders of Nature campaign, a contest which aims to attract more than 1-billion votes across the globe.

And with less than two months to garner support for Table Mountain – voting closes on 11 November 2011 – the Vote for Table Mountain Supporting Committee is proud to welcome two of South Africa's most famous faces to the list of ambassadors calling on all South Africans to vote.

'Mountain of hope'

They add their support to a third Nobel Peace Prize winner, Nelson Mandela, who called Table Mountain a "mountain of hope" in 1998.

At the opening of the Table Mountain National Park in 1998, Mandela, then President of South Africa, said: "During the many years of incarceration on Robben Island we often looked across Table Bay at the magnificent silhouette of Table Mountain. To us on Robben Island, Table Mountain was a beacon of hope. It represented the mainland to which we knew we would one day return.

"To the people of South Africa, the Table Mountain Range represents a great deal more than the rocky remains of millennia of sediment," Mandela said. "It is of immense ecological, cultural, religious and economic significance not only to the Western Cape Region, but also to the rest of the country."

God 'did something special here'

Tutu urged South Africans to "help us take our rightful place among the New 7 Wonders of Nature," adding: "I really can understand how, when God created all that there is, He said, 'I think I've got to do something special here'. And so God produced this fantastic gateway in the South – Table Mountain - our mountain, what a wonder!"

De Klerk, who received the Nobel Peace Prize in 1993 along with Mandela, said: "Table Mountain is the defining visual icon of Cape Town and South Africa. It has been the backdrop to the unfolding of South African history. Its imposing stature makes one forget that Table Mountain has more plant species than all of the United Kingdom, hence its declared status as a World Heritage Site.

"But Table Mountain does not belong only to the Western Cape," De Klerk said. "As a National Park it belongs to all of us in this country. As a World Heritage site, it belongs to the International Community.

"Elections seldom unite a country: occasions do," De Klerk said. "Last year the Soccer World Cup united us as a country. The Rugby World Cup [is uniting] us behind our Springbok team. But now we have an election that can unite us again. Vote for Table Mountain as one of the New Seven Wonders of Nature. I just did. Your turn now."

Source: Vote for Table Mountain Supporting Committee

Coastline

From the cold Atlantic of the northern Cape to the diver's paradise of Sodwana Bay.