By <a href="https://theconversation.com/profiles/sean-mfundza-muller-298216">Seán Mfundza Muller</a>, <a href="http://theconversation.com/institutions/university-of-johannesburg-1275">University of Johannesburg</a>

Over the past decade South Africa’s public finances have <a href="https://theconversation.com/south-africas-finance-minister-delivers-a-budget-designed-to-steady-the-ship-112162">come under more and more strain</a>. The days when the economy was growing and former finance minister Trevor Manuel brought baskets of fruit to parliament have been replaced by declines in the <a href="https://tradingeconomics.com/south-africa/gdp-per-capita">size of the economy per person</a> and rising unemployment. This was symbolised earlier this year when finance minister Tito Mboweni <a href="https://www.fin24.com/Budget/mboweni-plum-season-is-over-but-it-can-come-again-20190220">brought</a> a few drought-resistant bitter aloes to his budget speech.

These hard times have three main origins: the economic legacy of apartheid, the effects of the 2008 global financial crisis, and the massive <a href="https://theconversation.com/why-ramaphosas-new-dawn-will-break-slowly-for-south-africas-finances-105302">damage done</a> by inaction and state capture during President Jacob Zuma’s tenure. 

Apartheid systematically limited the human development of the majority of the population. It destroyed communities, created costly spatial inequalities and led to extreme inequalities between race groups. Among the negative consequences were its contribution to skills shortages, high unemployment, high <a href="https://mg.co.za/article/2015-11-15-commuting-costs-the-poor-dearly">transport costs for workers</a>, dependency on the state and high crime rates. 

Twenty-five years later the country’s debt levels continue to exceed targets despite additional measures to raise tax revenue. The situation has been compounded by the worsening finances of state-owned enterprises. The result is that public finances are becoming a burden on the economy because of the tax revenues required. And due to increasing borrowing costs resulting from credit rating downgrades.

Because of these and other factors, South Africa faces a unique combination of challenges. This makes addressing the country’s economic problems vastly more difficult. Economic and fiscal policies used successfully in other countries cannot simply be imitated.

The presidency of Cyril Ramaphosa has shown a dramatic shift from the Zuma era. The main change is that it appears to genuinely carry good intentions – a focus on rebuilding the state and growing the economy, rather than looting both. 

But good intentions are, unfortunately, insufficient. On top of this, the quality of advice Ramaphosa and Mboweni have to draw on for bright ideas in these dark times appears very low and often ideologically tainted. That doesn’t bode well for the country’s prospects.

<h2>Bad advice across the spectrum</h2>

Good political leaders rely on the expert advice of others. This is also true when it comes to public finances and economic policy. But South Africa is thin on such expertise.

This is evident in the kinds of solutions put forward by commentators such as the former deputy finance minister, Mcebisi Jonas. He has <a href="https://www.timeslive.co.za/news/south-africa/2019-08-16-shock-therapy-to-shield-sa-from-collapse-plus-5-highlights-from-the-new-vrye-weekblad/">repeatedly called</a> for <a href="https://www.latimes.com/archives/la-xpm-1990-04-26-mn-343-story.html">“shock therapy”</a> for parts of the economy. Shock therapy was a term used for extreme measures taken in former Soviet countries. It was driven by ideologically conservative economists, to introduce various aspects of capitalism. 

This would be an inappropriate path to follow in a country like South Africa where, in any case, the private sector controls more of the economy than the state. It also reflects ignorance about the <a href="http://johnmarangos.eu/wp-content/uploads/2014/10/43-2007-Int.%20J.%20Economic%20Policy%20in%20Emerging%20Economies.pdf">history of shock therapy</a> and its failings. 

This is perhaps unsurprising. Even one of the most highly qualified economists on the presidential economic advisory council <a href="https://twitter.com/thabileoka/status/1156709421415878656">recently claimed</a> that austerity might help reduce South Africa’s high rate of unemployment. An assertion like this is, in my view, shocking. It ignores the <a href="https://www.theguardian.com/business/2013/jun/05/imf-underestimated-damage-austerity-would-do-to-greece">harm caused by austerity measures</a> and fails to acknowledge the structural origins of South Africa’s high unemployment rates.

On the left of the spectrum, some commentators still seem to be stuck in the arguments of the mid-1990s. There are calls for “<a href="https://www.dailymaverick.co.za/opinionista/2019-06-04-part-one-lets-build-a-new-economy-for-the-many-not-just-the-few/">fiscal stimulus</a>” or <a href="https://www.sowetanlive.co.za/news/south-africa/2018-09-05-ramaphosa-must-act-now-economists/">changes in monetary policy</a> to unlock economic growth. 

There are many reasons to believe that these proposals <a href="https://businesstech.co.za/news/energy/327305/south-africa-wont-consider-quantitative-easing-to-help-eskom/">are inappropriate</a>. In any event, they would have only a small chance of success. Worse still, the advocates of these policies <a href="https://www.businesslive.co.za/bd/opinion/letters/2019-08-08-letter-high-debt-cannot-be-ignored/">selectively ignore threats to public finances</a> and fail to consider the damage that would result from their proposals not working. 

While left-wing commentators are scathing about importing ideas from institutions like the International Moneary Fund (IMF), their own arguments about fiscal and monetary policy <a href="https://www.businesslive.co.za/bd/opinion/letters/2019-06-13-letter-quantitative-easing-cannot-be-used-as-policy-tool-to-drive-development-in-sa/">inappropriately parrot</a> those made by so-called heterodox economists in developed countries. An <a href="https://af.reuters.com/article/southAfricaNews/idAFL8N23B29A">infamous</a> manifestation of this was the African National Congress secretary-general’s damaging call for quantitative easing.

Another shibboleth is <a href="https://www.iol.co.za/business-report/budget/south-africa-to-reach-the-fiscal-cliff-by-2042-19443575">that</a> the country faces a “fiscal cliff” and must contain or cut public sector wages and social expenditure. 

In my view the <a href="http://www.scielo.org.za/scielo.php?script=sci_arttext&amp;pid=S0041-47512014000100009">concept is deeply flawed</a>. It is based on overly simplistic assumptions about trends in government spending and a conception of public finance sustainability that has no credibility internationally. 

<h2>Bold words, but timid policy</h2>

Ramaphosa and Mboweni have been doing their political part in playing up the prospects of the national treasury’s economic strategy paper. But the document is made up mostly of recycled ideas that are likely to have limited effect, or are simply bad. One example is that of introducing transport and water regulators, in the face of evidence that <a href="https://theconversation.com/south-africa-is-planning-more-regulators-this-is-a-bad-idea-123572">this would be a bad idea</a>.

The composition of the <a href="http://www.thepresidency.gov.za/press-statements/president-appoints-economic-advisory-council">advisory council</a> established by the presidency, while clearly well-intentioned, also leaves a lot to be desired. The presence of two high-profile international economists with limited local knowledge, along with private sector economists and academics who specialise in commentary rather than substantive analysis, makes the council appear rather superficial.

The country’s high debt levels, repeated under-collection of tax revenue, flailing state-owned enterprises and non-existent economic growth mean that there is very little room for creativity in public finances. Instead, while the upcoming medium-term budget may try to paint a positive picture of prospects in distant years it will – as is now the norm – be focused on crisis management.

In the absence of a clear-eyed vision for the role of the state in relation to the economy and socio-economic outcomes, only good fortune will spare South Africa from stagnation, or a further worsening of public finances.<img loading="lazy" decoding="async" src="https://counter.theconversation.com/content/125990/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important" />

<a href="https://theconversation.com/profiles/sean-mfundza-muller-298216">Seán Mfundza Muller</a>, Senior Lecturer in Economics and Research Associate at the Public and Environmental Economics Research Centre (PEERC), <a href="http://theconversation.com/institutions/university-of-johannesburg-1275">University of Johannesburg</a>

This article is republished from <a href="http://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/tough-times-and-bad-advice-are-holding-back-south-africas-economy-125990">original article</a>.

What’s holding back South Africa’s economy?

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Why the Arsenal deal is a big win for Rwandan tourism

By <a href="https://theconversation.com/profiles/maurice-soudieck-dione-831524">Maurice Soudieck Dione</a>, <a href="http://theconversation.com/institutions/universite-gaston-berger-3991">Université Gaston Berger</a>

Earlier this year Senegal’s president, Macky Sall, embarked on his second term as president <a href="https://www.aljazeera.com/news/africa/2019/04/senegal-macky-sall-starts-term-call-dialogue-190402170119221.html">pledging</a> “constructive” dialogue with the opposition. This followed tense elections in which Sall was <a href="https://www.bbc.com/news/world-africa-47400711">accused</a> of preventing some of his main rivals from running.

In principle, political dialogue is essential. But in Senegal it’s often used as a way to manipulate public opinion and provide breathing space for a government under fire for its authoritarian tactics.

Throughout Sall’s tenure it has given cover to multiple encroachments on Senegalese democracy. This includes <a href="https://www.jeuneafrique.com/791019/politique/senegal-controverse-apres-le-desaveu-de-lue-sur-le-systeme-des-parrainages/">tampering with the rules of the electoral system</a>, empty promises of dialogue and violations of the <a href="https://www.lemonde.fr/afrique/article/2018/04/19/au-senegal-une-manifestation-reprimee-l-ancien-premier-ministre-idrissa-seck-interpelle_5287772_3212.html">rights and freedoms of the opposition and government opponents</a>.

These tactics threaten national cohesion, progress and stability in the country. 

<h2>Broken promises</h2>

On taking office in 2012, President Sall cast aside a charter of structural reforms for national governance, the <a href="http://www.assisesnationales.org/?ans=doc">National Conferences Charter</a>, that he himself had signed. 

He also backtracked on his <a href="https://www.lemonde.fr/afrique/article/2016/02/17/macky-sall-ira-finalement-jusqu-au-bout-de-son-mandat-de-sept-ans_4866925_3212.html">oft-repeated</a> <a href="https://www.voaafrique.com/a/senegal-president-senegalais-renonce-a-reduire-son-mandat-en-cours/3193669.html">commitment to reduce his term in office</a> from seven to five years. 

Then, despite opposition and in a very short timeframe, in March 2016 he organised a <a href="https://www.pressafrik.com/Referendum-du-20-mars-C-est-parti-pour-sept-jours-de-campagne_a147321.html">constitutional referendum.</a>. 

But the proposed changes – which would have led to the balance of power being distributed more evenly, thus <a href="https://www.financialafrik.com/2018/08/03/senegal-une-exception-democratique-a-lepreuve-de-lhyper-presidentialisme/">streamlining</a> the country’s extremely top-heavy political system – failed to generate a strong consensus. In the end, no serious reforms <a href="https://fr.allafrica.com/stories/201711220787.html">were ever implemented</a> that would temper the president’s political, legal and institutional supremacy over executive and judicial power. 

<h2>Opposition persecution</h2>

As a way to demonstrate his commitment to inclusive government, Sall then <a href="http://www.chinafrica.cn/The_Latest_Headlines/201605/t20160520_800057264.html">launched a</a> national dialogue on May 28 – the day after the referendum. This brought together representatives of the political class, civil society, the private sector, trade unions and religious and traditional leaders. Some members of the opposition took part in good faith. 

The talks led to the quick release, <a href="https://www.jeuneafrique.com/336456/politique/senegal-gracie-macky-sall-karim-wade-parti-qatar/">through presidential pardon</a>, of Karim Wade, the son and former minister of ex-President Abdoulaye Wade. 

But Wade’s release shouldn’t be interpreted as signalling that the dialogue initiative was effective. 

A year earlier, Wade had been <a href="https://www.lemonde.fr/afrique/article/2015/03/23/senegal-karim-wade-condamne-a-six-ans-de-prison_4599445_3212.html">sentenced to six years in prison</a> for mis-appropriation of funds, by a special anti-corruption court. Established in 1981, and revived by Sall in 2012 after a long period of dormancy, the special court has been <a href="https://www.fidh.org/fr/regions/afrique/senegal/15499-senegal-la-crei-une-juridiction-d-exception-qui-ne-garantit-pas-le-droit-a">heavily criticised</a>.

The <a href="https://www.ohchr.org/FR/Issues/Detention/Pages/WGADIndex.aspx">UN stated</a> that <a href="https://www.ohchr.org/FR/NewsEvents/Pages/DisplayNews.aspx?NewsID=16997&amp;LangID=F">Wade’s imprisonment was arbitrary</a> and the West African States Community Court of Justice <a href="https://www.jeuneafrique.com/172087/politique/enrichissement-illicite-la-cedeao-recadre-dakar/">found that</a> constitutionally, as a former minister, he should have been brought before the Senegalese High Court of Justice. 

Sall therefore had no choice but to free Wade. But he also clearly took this opportunity to force Wade – a strong contender in the presidential elections – into <a href="http://www.rfi.fr/afrique/20180114-senegal-avenir-s-assombrit-karim-wade">exile</a> in Qatar. 

Khalifa Sall – then mayor of Dakar and another leading opposition contender – was then arrested in 2017 for allegedly embezzling US$3 million in public funds. Critics accused Macky Sall of making up the charges to remove him. Khalifa <a href="https://www.bbc.com/news/world-africa-49873340">was released</a> on a presidential pardon last month. 

Sall’s government has also continued its authoritarian tactics with <a href="http://www.rfi.fr/afrique/20140420-senegal-interdictions-manifestations-multiplient-dakar-libert%C3%A9s-publiques-macky-sall">systematic bans on opposition protests</a>.

Furthermore, Sall’s promise to institutionalise political dialogue failed to materialise: there was just one round of talks during his first term. 

<h2>Crisis of confidence</h2>

Parliamentary elections, held in July 2017, are seen to have contributed to the crisis facing the country. There were accusations of <a href="https://www.lemonde.fr/afrique/article/2017/07/30/au-senegal-les-elections-legislatives-se-sont-deroulees-dans-une-relative-confusion_5166696_3212.html">major irregularities</a>. And after the chaotic elections Sall <a href="https://fr.allafrica.com/stories/201901020554.html">refused</a> the opposition’s request for a non-partisan Minister of the Interior. The position is meant to be free of party affiliation, as it had been for <a href="https://www.lequotidien.sn/deces-du-general-lamine-cisse-fin-de-mission-dun-soldat/">about</a> 20 years. 

Sall then <a href="https://www.jeuneafrique.com/mag/560940/politique/senegal-les-parrainages-de-la-discorde/">pushed through a reform introducing electoral sponsoring, without consultation</a>. This requires all candidates standing in presidential elections to collect the signatures of at least 1% of the registered voters before being validated. This made it much harder for candidates to run.

<a href="https://www.lemonde.fr/afrique/article/2018/04/19/senegal-la-loi-sur-le-parrainage-votee-dans-un-climat-de-forte-contestation_5287952_3212.html">Opposition protests were subject to crackdowns</a> and their leaders were arrested. 

This new sponsoring law proved to be a boon to the government during the 2019 presidential elections because it limited the number of candidates. 

Candidates <a href="https://www.lepoint.fr/afrique/senegal-nous-voulons-des-elections-fiables-30-12-2018-2282538_3826.php">did not have access to the electoral roll</a> to confirm the validity of their sponsor signatures and thousands of sponsor signatures were invalidated on the false claim that they were not registered to vote. <a href="https://www.jeuneafrique.com/698797/politique/presidentielle-au-senegal-pourquoi-19-dossiers-de-parrainage-ont-ete-ecartes/">As many as 19 electoral hopefuls had their applications rejected</a> by the Constitutional Council. In the end <a href="https://www.bbc.com/afrique/monde-46863956">only five candidates were able to run</a>.



Today national dialogue is at a standstill, and it’s not surprising given the political manoeuvring that undermines it. This presents a worrying future scenario for Senegal. 

Translated from the French by Alice Heathwood for Fast ForWord.<img loading="lazy" decoding="async" src="https://counter.theconversation.com/content/124380/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important" />

<a href="https://theconversation.com/profiles/maurice-soudieck-dione-831524">Maurice Soudieck Dione</a>, Enseignant-chercheur en sciences politiques, <a href="http://theconversation.com/institutions/universite-gaston-berger-3991">Université Gaston Berger</a>

This article is republished from <a href="http://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/senegals-president-uses-political-manoeuvres-to-mask-authoritarian-tactics-124380">original article</a>.

Is Senegal’s president using political manoeuvres to mask authoritarian tactics ?

Press Release



Now in its third year, the Absa Africa Financial Markets Index evaluates financial market development in 20 countries across the African continent and the improvements show the progress being made within the financial markets.



Apart from the progress shown in the overall score, the biggest improvement was in ‘legality and enforceability of standard financial markets master agreements’, where the average score jumped to 55 from 47.



‘The steady improvement across African countries is partly a testament to the impact that our Index is having across the continent,’ says George Asante, Head of Global Markets for Absa Regional Operations. ‘The Index is putting the right level of peer pressure on policy makers across Africa and we are seeing a concerted effort to react to the findings. The Index is becoming a powerful barometer for policy makers and playing a role in building an Africa which is able to fund itself.’ An excellent example of this is Ethiopia, which announced plans to launch a stock exchange in 2020, a sure sign of the significant potential for improvement in the coming year.



We welcome these vital signs of improvement in several African countries,’ says David Marsh, chairman of OMFIF. ‘The launch of new products or regulatory improvements prove that the African continent is moving in the right direction, and our index is now a piece of important evidence for tracking progress in the region’.&nbsp;



For more visit &gt;&gt; https://www.absa.co.za/corporate-and-investment-banking/news-and-events/events/absa-africa-financial-markets-index1/

Here’s how Absa is planning to take you further into Africa than ever before

Nigeria cracks down on abusive Islamic schools

By <a href="https://www.cnbc.com/tom-huddleston-jr/">Tom Huddleston Jr.</a>



The NBA kicks off a new season on <a class="" href="https://scores.nbcsports.com/nba/preview.asp?g=2019102228">Tuesday night</a> with the defending champion <a class="" href="https://www.cnbc.com/2019/05/30/how-much-money-the-winners-of-the-nba-finals-could-take-home.html">Toronto Raptors</a> taking on the New Orleans Pelicans.



That game will feature one of the NBA’s ten highest-paid players — Toronto’s Kyle Lowry — while two more will face off later on Tuesday in Los Angeles when LeBron James and the Lakers tip off their season against Paul George and the Clippers.



The average NBA player salary is&nbsp;<a href="https://www.basketball-reference.com/contracts/players.html" class="">$7.7 million</a>&nbsp;for the season that starts on Tuesday and will run through June 2020. That number is up from an average salary of almost $6.4 million for the previous season, according to Basketball Reference.



NBA salaries continue to rise year to year, and the&nbsp;<a href="https://www.cnbc.com/2018/06/06/stephen-curry-is-the-highest-paid-player-in-the-nba.html" class="">highest-paid player’s</a>&nbsp;earnings are no exception, as the Golden State Warriors star Stephen Curry’s earnings for the 2019-2020 season are ticking upward to $40.2 million from $37.5 million for the previous season.



Here are the ten highest-paid NBA players for the league’s new season, starting with Curry, according to&nbsp;<a href="https://www.spotrac.com/nba/rankings/cash/" class="">Spotrac</a>.



<h2 class="wp-block-heading">1. Stephen Curry, 31, Golden State Warriors: $40.2 million</h2>



<figure class="wp-block-image is-resized"><img loading="lazy" decoding="async" src="https://www.cnbcafrica.com/wp-content/uploads/2019/10/gettyimages-1053195934-594x594.jpg" alt="" class="wp-image-348277" width="709" height="499" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2019/10/gettyimages-1053195934-594x594.jpg 594w, https://cms.cnbcafrica.com/wp-content/uploads/2019/10/gettyimages-1053195934-594x594-300x211.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2019/10/gettyimages-1053195934-594x594-100x70.jpg 100w" sizes="auto, (max-width: 709px) 100vw, 709px" /><figcaption>OAKLAND, CA &#8211; OCTOBER 24: Stephen Curry #30 of the Golden State Warriors reacts to the crowd chanting &#8220;MVP&#8221; during their game against the Washington Wizards at ORACLE Arena on October 24, 2018 in Oakland, California. Curry finished the game with 51 points. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement. (Photo by Ezra Shaw/Getty Images)</figcaption></figure>



The former MVP, who has won three championships with the Warriors since 2015, signed a five-year contract&nbsp;<a href="https://www.cnbc.com/2017/07/11/steph-currys-money-outlook-helped-him-score-a-200-million-contract.html" class="">worth $201.2 million</a>&nbsp;with the team in 2017. The deal pays Curry an average annual salary of more than $40 million, with the annual value eventually increasing to more than $45 million by 2021.



<h2 class="wp-block-heading">Tied &#8211; 2. Russell Westbrook, 30, Houston Rockets: $38.5 million</h2>



<figure class="wp-block-image is-resized"><img loading="lazy" decoding="async" src="https://www.cnbcafrica.com/wp-content/uploads/2019/10/gettyimages-1181957587-594x594.jpg" alt="" class="wp-image-348279" width="478" height="717" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2019/10/gettyimages-1181957587-594x594.jpg 396w, https://cms.cnbcafrica.com/wp-content/uploads/2019/10/gettyimages-1181957587-594x594-200x300.jpg 200w, https://cms.cnbcafrica.com/wp-content/uploads/2019/10/gettyimages-1181957587-594x594-280x420.jpg 280w" sizes="auto, (max-width: 478px) 100vw, 478px" /><figcaption>MIAMI, FLORIDA &#8211; OCTOBER 18: Russell Westbrook #0 of the Houston Rockets in action against the Miami Heat during the first half at American Airlines Arena on October 18, 2019 in Miami, Florida. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement. (Photo by Michael Reaves/Getty Images)</figcaption></figure>



Houston acquired Westbrook in a trade with the Oklahoma City Thunder in July. The All-Star guard had previously signed a five-year, $206.8 million contract extension with his previous team in 2017 that leaves him tied for the second-best annual salary in 2019 behind Curry, according to Spotrac.



<h2 class="wp-block-heading">Tied &#8211; 2. Chris Paul, 34, Oklahoma City Thunder: $38.5 million</h2>



<figure class="wp-block-image"><img loading="lazy" decoding="async" width="594" height="396" src="https://www.cnbcafrica.com/wp-content/uploads/2019/10/gettyimages-698880584-594x594.jpg" alt="" class="wp-image-348280" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2019/10/gettyimages-698880584-594x594.jpg 594w, https://cms.cnbcafrica.com/wp-content/uploads/2019/10/gettyimages-698880584-594x594-300x200.jpg 300w" sizes="auto, (max-width: 594px) 100vw, 594px" /><figcaption>NEW YORK, NY &#8211; JUNE 20: Athlete and designer Chris Paul attends the FIVE FOUR x Chris Paul Launch Dinner at Catch on June 20, 2017 in New York City. (Photo by Slaven Vlasic/Getty Images for FIVE FOUR)</figcaption></figure>



<a class="" href="https://www.cnbc.com/2018/07/02/what-houston-rockets-chris-paul-did-with-his-first-big-nba-check.html">Chris Paul</a>&nbsp;finds himself tied with Westbrook for second on the ranking of the NBA’s highest-paid players for the second year in a row. In fact, Paul and Westbrook will switch teams for the new NBA season, as the two players were traded for each other in the mega-deal between Houston and Oklahoma City over the summer. Paul’s four-year, $159.7 million contract expires in 2022.



<iframe loading="lazy" width="560" height="315" src="https://www.youtube.com/embed/ieWGlA-gysI" frameborder="0" allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen=""></iframe>



<h2 class="wp-block-heading">Tied-4. James Harden, 30, Houston Rockets: $38.2 million</h2>



<figure class="wp-block-image is-resized"><img loading="lazy" decoding="async" src="https://www.cnbcafrica.com/wp-content/uploads/2019/10/gettyimages-494742496-594x594.jpg" alt="" class="wp-image-348282" width="710" height="447" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2019/10/gettyimages-494742496-594x594.jpg 594w, https://cms.cnbcafrica.com/wp-content/uploads/2019/10/gettyimages-494742496-594x594-300x189.jpg 300w" sizes="auto, (max-width: 710px) 100vw, 710px" /><figcaption>HOUSTON, TX &#8211; OCTOBER 28: James Harden #13 of the Houston Rockets calls a play during their game against the Denver Nuggets at the Toyota Center on October 28, 2015 in Houston, Texas. (Photo by Scott Halleran/Getty Images)</figcaption></figure>



Another former league MVP, Harden is entering his 11th season in the NBA and the first year of a four-year, $171.1 million contract extension he signed with the Rockets in 2017 (the new deal extends a previous contract he signed in 2016 that paid him an average annual salary of $29.5 million).



<h2 class="wp-block-heading">Tied-4. Kevin Durant, 31, Brooklyn Nets: $38.2 million</h2>



<figure class="wp-block-image is-resized"><img loading="lazy" decoding="async" src="https://www.cnbcafrica.com/wp-content/uploads/2019/10/gettyimages-849622772-594x594.jpg" alt="" class="wp-image-348284" width="709" height="511" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2019/10/gettyimages-849622772-594x594.jpg 594w, https://cms.cnbcafrica.com/wp-content/uploads/2019/10/gettyimages-849622772-594x594-300x216.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2019/10/gettyimages-849622772-594x594-324x235.jpg 324w, https://cms.cnbcafrica.com/wp-content/uploads/2019/10/gettyimages-849622772-594x594-583x420.jpg 583w" sizes="auto, (max-width: 709px) 100vw, 709px" /><figcaption>SAN FRANCISCO, CA &#8211; SEPTEMBER 19: NBA Player and Durant Company/Thirty Five Media Partner Kevin Durant speaks onstage during TechCrunch Disrupt SF 2017 at Pier 48 on September 19, 2017 in San Francisco, California. (Photo by Steve Jennings/Getty Images for TechCrunch)</figcaption></figure>



<a href="https://www.cnbc.com/2018/05/29/what-kevin-durant-has-learned-about-investing.html" class="">Durant</a>&nbsp;left Golden State to sign a four-year contract worth $164.3 million with the Nets in the 2019 off season despite the fact that he’ll&nbsp;<a href="https://www.cnbc.com/2019/06/12/kevin-durant-injury-is-changing-the-nba-and-moving-wall-street-stocks.html" class="">miss the entire upcoming season</a>&nbsp;due to a torn Achilles tendon suffered during the 2019 playoffs. He’s set to make over $42 million in the final year of the contract, which expires in 2023.



<h2 class="wp-block-heading">Tied-4. John Wall, 29, Washington Wizards: $38.2 million</h2>



<figure class="wp-block-image is-resized"><img loading="lazy" decoding="async" src="https://www.cnbcafrica.com/wp-content/uploads/2019/10/gettyimages-1083516606-594x594.jpg" alt="" class="wp-image-348285" width="709" height="473" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2019/10/gettyimages-1083516606-594x594.jpg 594w, https://cms.cnbcafrica.com/wp-content/uploads/2019/10/gettyimages-1083516606-594x594-300x200.jpg 300w" sizes="auto, (max-width: 709px) 100vw, 709px" /><figcaption>WASHINGTON, DC &#8211; DECEMBER 16: John Wall #2 of the Washington Wizards dribbles against the Los Angeles Lakers during the second half at Capital One Arena on December 16, 2018 in Washington, DC. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement. (Photo by Patrick Smith/Getty Images)</figcaption></figure>



Wall is also&nbsp;<a href="https://www.cbssports.com/nba/news/john-wall-injury-update-wizards-owner-ted-leonsis-says-guard-probably-wont-play-next-season-due-to-torn-achilles/" class="">expected</a>&nbsp;to miss the entire upcoming season due to injury (he also tore an Achilles tendon). Regardless, the Wizards’ All-Star point guard will rank among the league’s highest-paid players for the foreseeable future, thanks to a four-year, $171.1 million contract extension he&nbsp;<a href="https://www.nbcsports.com/washington/washington-wizards/john-wall-agrees-four-year-extension-wizards" class="">signed in 2017</a>&nbsp;that will eventually pay him more than $47 million annually before it expires in 2023.



<h2 class="wp-block-heading">7. LeBron James, 34, Los Angeles Lakers: $37.4 million</h2>



<figure class="wp-block-image is-resized"><img loading="lazy" decoding="async" src="https://www.cnbcafrica.com/wp-content/uploads/2019/10/gettyimages-1066599734-594x594.jpg" alt="" class="wp-image-348286" width="710" height="546" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2019/10/gettyimages-1066599734-594x594.jpg 594w, https://cms.cnbcafrica.com/wp-content/uploads/2019/10/gettyimages-1066599734-594x594-300x231.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2019/10/gettyimages-1066599734-594x594-546x420.jpg 546w" sizes="auto, (max-width: 710px) 100vw, 710px" /><figcaption>LOS ANGELES, CA &#8211; NOVEMBER 29: LeBron James #23 of the Los Angeles Lakers celebrates his three pointer during a 104-96 win over the Indiana Pacers at Staples Center on November 29, 2018 in Los Angeles, California. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement. (Photo by Harry How/Getty Images)</figcaption></figure>



The four-time MVP took his talents to the Lakers in 2018, signing a four-year deal worth $153.3 million overall. As&nbsp;<a href="https://www.cnbc.com/2018/07/02/lakers-deal-will-make-lebron-james-highest-career-earning-nba-player.html" class="">CNBC Make It noted</a>&nbsp;at the time, James will have earned more than $387 million in total salary over his career by the time his current contract expires in 2022, which will give him the highest all-time contract earnings in NBA history.



<h2 class="wp-block-heading">8. Kyle Lowry, 33, Toronto Raptors: $34.9 million</h2>



<figure class="wp-block-image is-resized"><img loading="lazy" decoding="async" src="https://www.cnbcafrica.com/wp-content/uploads/2019/10/gettyimages-952246314-594x594.jpg" alt="" class="wp-image-348287" width="710" height="473" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2019/10/gettyimages-952246314-594x594.jpg 594w, https://cms.cnbcafrica.com/wp-content/uploads/2019/10/gettyimages-952246314-594x594-300x200.jpg 300w" sizes="auto, (max-width: 710px) 100vw, 710px" /><figcaption>WASHINGTON, DC &#8211; APRIL 27: Kyle Lowry #7 of the Toronto Raptors reacts against the Washington Wizards in the second half during Game Six of Round One of the 2018 NBA Playoffs at Capital One Arena on April 27, 2018 in Washington, DC. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement. (Photo by Patrick Smith/Getty Images)</figcaption></figure>



Lowry and the Raptors are entering the new season fresh off the franchise’s first-ever NBA championship. The veteran point guard will also see his salary jump a few million dollars from&nbsp;<a class="" href="http://www.espn.com/nba/salaries/_/year/2019/seasontype/1">the $31 million</a>&nbsp;he earned in the 2018-2019 season.



<h2 class="wp-block-heading">9. Blake Griffin, 30, Detroit Pistons: $34.5 million</h2>



<figure class="wp-block-image is-resized"><img loading="lazy" decoding="async" src="https://www.cnbcafrica.com/wp-content/uploads/2019/10/gettyimages-1039562198-594x594.jpg" alt="" class="wp-image-348288" width="711" height="474" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2019/10/gettyimages-1039562198-594x594.jpg 594w, https://cms.cnbcafrica.com/wp-content/uploads/2019/10/gettyimages-1039562198-594x594-300x200.jpg 300w" sizes="auto, (max-width: 711px) 100vw, 711px" /><figcaption>DETROIT, MI &#8211; SEPTEMBER 24: Blake Griffin #23 of the Detroit Pistons poses for a portrait during Media Day at Little Caesars Arena on September 24, 2018 in Detroit, Michigan. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement. (Photo by Gregory Shamus/Getty Images)</figcaption></figure>



<a class="" href="https://www.cnbc.com/2019/02/26/photos-nba-star-blake-griffin-selling-la-mansion-for-11-million-dollars.html">Griffin</a>&nbsp;was traded from the Clippers to the Detroit Pistons in January 2018, more than a year after he signed a five-year, $171.2 million contract extension that will expire in 2022.



<h2 class="wp-block-heading">10. Paul George, 29, Los Angeles Clippers: $33 million</h2>



<figure class="wp-block-image is-resized"><img loading="lazy" decoding="async" src="https://www.cnbcafrica.com/wp-content/uploads/2019/10/gettyimages-1177984879-594x594.jpg" alt="" class="wp-image-348289" width="711" height="503" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2019/10/gettyimages-1177984879-594x594.jpg 594w, https://cms.cnbcafrica.com/wp-content/uploads/2019/10/gettyimages-1177984879-594x594-300x212.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2019/10/gettyimages-1177984879-594x594-100x70.jpg 100w" sizes="auto, (max-width: 711px) 100vw, 711px" /><figcaption>PLAYA VISTA, CALIFORNIA &#8211; SEPTEMBER 29: Paul George #13 of the LA Clippers speaks to the media during the LA Clippers media day at Honey Training Center on September 29, 2019 in Playa Vista, California. (Photo by Josh Lefkowitz/Getty Images)</figcaption></figure>



The Clippers acquired George in a trade from the Oklahoma City Thunder in July, taking on the All-Star’s four-year, $136.9 million contract in the process.



Missing from this list of the 10 best-paid NBA stars are both last season’s MVP, Giannis Antetokounmpo of the Milwaukee Bucks, and the Clippers’&nbsp;<a href="https://www.cnbc.com/2019/06/10/toronto-raptors-kawhi-leonard-drove-97-chevy-tahoe-94-million-contract.html" class="">Kawhi Leonard</a>, who was crowned the NBA Finals MVP in June after winning a championship with Toronto.



Leonard, 28, just missed cracking the top 10, as he’ll make $32.7 million this season from a new three-year contract (worth $103 million overall) he&nbsp;<a href="https://www.nbcsports.com/bayarea/warriors/kawhi-leonards-shorter-contract-could-mean-short-reign-clippers" class="">signed</a>&nbsp;with the Clippers in July.



Meanwhile, the 24-year-old Antetokounmpo will make $25.8 million in the upcoming season (making him just the 41st highest-paid player in the NBA, according to&nbsp;<a class="" href="https://www.spotrac.com/nba/rankings/cash/">Spotrac</a>) as part of a four-year, $100 million extension he signed with Milwaukee in 2016. He’ll be a free agent in 2021, and Antetokounmpo is already&nbsp;<a class="" href="https://www.si.com/nba/2019/07/01/knicks-free-agency-failures-2021-cap-space-giannis-antetokounmpo">expected to be highly sought after</a>&nbsp;and could land a new deal that would make him among the league’s highest-paid players.



This article first appeared on CNBC <a href="https://www.cnbc.com/2019/10/22/highest-paid-players-in-the-nba-right-now.html">https://www.cnbc.com/2019/10/22/highest-paid-players-in-the-nba-right-now.html</a> and is republished with its permission.

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By Patience
Koku, Nigerian farmer, owner of Replenish Farms and member of the Global Farmer
Network



When food
systems are supplied by rain-fed agriculture, changes in rainfall can throw not
only farming, but also food security, into complete disarray.



This is
what farmers are experiencing in Nigeria, where the rains come much later now
and stop earlier than they once did. Whilst some areas of the country deal with
unseasonably wet periods, other areas contend with prolonged and more frequent
droughts.



These
changes have put unprecedented pressures on Nigerian farmers, with many of them
finding it difficult to cope. 



Thankfully,
Nigerian farmers can learn lessons from food producers elsewhere, who have also
coped with changing conditions, and one proven solution is the adoption of
“no-till” farming.



No-till
farming is the practice of growing crops without disturbing the soil through
tillage, which allows the soil to breathe, naturally maintaining its moisture
and reducing &#8211; or even eliminating – the risk of soil erosion.



What is
needed now is nothing short of a no-till revolution, a new period of Nigerian
farming that will build resilience for farmers across the country, helping them
contend with new climate pressures. 



But to
scale up the practice of no-till in Nigeria, we must overcome three fundamental
barriers.



Firstly,
many farmers are reluctant to adopt new practices that could help maintain soil
health, even in the face of extreme droughts. 



Nigerian
farmers, like those anywhere, tend to be very cautious when changing what they
do on their farm, which are already beset with risk. 



These
practices, known as agroecology, are essentially <a href="http://www.fao.org/family-farming/detail/en/c/415959/" target="_blank" rel="noreferrer noopener">farming practices designed to make
the most of nature’s resources</a>
whilst limiting the negative effects in return, but have yet to make a stamp in
the country.



Yet, we
have evidence from New Zealand, Argentina and many other countries of the
benefits of these approaches. Our colleagues in New Zealand, for example, have
shared stories about the impact no-till farming has had for them, including the
ability to <a href="https://www.no-tillfarmer.com/articles/6230-new-zealanders-benefit-from-no-till?v=preview" target="_blank" rel="noreferrer noopener">plant seeds
within days of a harvest</a>
or <a href="https://www.nzherald.co.nz/the-country/news/article.cfm?c_id=16&amp;objectid=12143141" target="_blank" rel="noreferrer noopener">eliminating
soil erosion entirely.</a>



These types
of stories have the power to convince farmers of the need to work much more
closely with natural processes, since farmers more likely to adopt a new
practice once they can be sure it will work. 



Secondly,
even if farmers were willing to take on new practices, many are missing the
necessary funding and finance needed to help put these new techniques into
practice. 



At
Replenish Farms in Nigeria, I am working to solve this by encouraging farmers
to share resources. Crop farmers are giving their harvest residue to
pastoralists, for example, in exchange for manure that can be used to naturally
fertilize crops. 



This means
less pressure to use mineral fertilizers, lower costs and more support towards
increasing the organic matter in soil, which provides optimum conditions for
plant growth. 



Lastly,
when it comes to farming with minimal disturbance of the soil, specialised
planting machinery in Nigeria is often expensive or not suited to our soils. 



My company,
1Hectare1Family, is addressing this by working in collaboration with a number
of partners to find cheaper, more efficient tools. 



<a href="http://www.crossslot.com/home" target="_blank" rel="noreferrer noopener">Cross-Slot</a>, a New Zealand-based company, is one of these
partners. They make the right equipment for efficient no-till farming in New
Zealand and are advising us on how to achieve this in Nigeria. 



We are also
attempting to forge a collaboration with the Registrar of the National Soil
Science Institute, in the hope that we can provide smallholder farmers with
both the right training and equipment to be able to convert their practices to
no-till.



In the
first year of adopting no-till at Replenish Farms, just one per cent of
production used it. In the following season, that was quickly scaled up to
around 10 per cent. 



Next
season, we will be expanding it to more than 50 per cent &#8211; evidence of just how
successful no-till has been. 



But my farm
is not unique. The potential of Nigerian farming is huge when we embrace the
lessons of elsewhere and adapt them to help us meet our needs.

Op-Ed: Three challenges to overcome for more sustainable farming in Nigeria

By Cobus De Hart – Chief Economist West and North Africa, NKC African Economics



After trending lower for three consecutive months, headline inflation increased by a larger-than-anticipated margin in September. 



The
consumer price index (CPI) rose by 11.2% y-o-y last month compared to an 11.0%
y-o-y rise in August. While fairly broad-based, upward pressure stemmed
primarily from the food price channel, with the reading on the sub-index up by
30 bps to 13.5% in September. So-called core inflation (all items less farm
produce) also trended higher, rising from 8.7% to 8.9%.



Nigeria
decided to shut its border with Benin in late August, reportedly to clamp down
on smuggling. According to Reuters, this strategy has now been elevated to a
whole new level. 



On
October 15, the news agency quoted Hameed Ali, comptroller-general of the
Nigeria Customs Service, as stating: “All goods for now are banned from being
exported or imported through our land borders and that is to ensure we have
total control over what comes in.” 



Reporters
at the news conference in Abuja understood Mr Ali’s comments in the context of
stating that legal trade across land borders will also be stopped, at least
temporarily or until authorities come up with a plan on “how best the goods can
be handled when we eventually get to the point where this operation will relax
for the influx of goods”. 



While
not explicitly mentioned, certain points are reportedly equipped with special
scanners where goods will still be allowed to cross the border. 



<figure class="wp-block-image"><img decoding="async" src="https://dk9s2z6zfj98v.cloudfront.net/publications/42265/OE_CHART_1_16-10-2019-0945263608.png?Expires=1602755126&amp;Signature=oQKd67pr5nc1xApprpSwY17EFYyqsVSlGAXy018tvepceHnknBsrC0Zu2jChWzHO6W10fyHtIcWxJFkweiah--Zxxwnx5JkUq1uwak043z1c4h~mZUabgxYG0AOVjRowsvKCViWsGBVzStYmC~nHAfA-EJb1-tNjePVPlsiNOk460odBOIVsH-x4T9QwxZkgHe1FXnbGN1JlGkdtrI45cWmBfR0YZfmBfzb~mk-cu5uyNCh7f0YrdxqzTDrusyjK7GAlUh-yAqpv4IXEv-iZS53lG8WYgTFWOb6E86D~wypz0Rn8sbOPKdvL1DqVJAiLLtMnstQ2ljeKwDD02RNLMg__&amp;Key-Pair-Id=APKAJVGCNMR6FQV6VYIA" alt=""/></figure>



The
closure of the land borders will have a significant impact on both the monetary
and real sides of the economy. The latest inflation print, with upward price
pressures fairly broad-based but still disproportionally stemming from higher
food prices, may already be an indication of the effect of the partial border
closures announced in August. 



Again,
as has been the case with Nigeria on numerous occasions over recent years, the
appropriateness of the latest policy is highly debatable. 



One
can certainly see the merit of the case being made in favour of formalising
trade and ensuring the necessary rules and costs are abided by; however,
outright banning of all land-based trade seems extreme. 



The
real issue arguably reflects the ineffectiveness of border controls more than
the incentive for people to smuggle goods, with the latter partially stemming
from the domestic opportunity arising as a result of market inefficiencies and
a lack of capacity and competitiveness.



Regardless,
the land-border closure will now add significant upward pressure on inflation
in the coming months as food items in particular will be in shorter supply.
Exporters of certain goods will also be affected. The extent of the impact will
partly depend on the duration of the land-border closure and whether traders
can find alternative routes. 



Smugglers will likely be more capable of finding these alternatives, with the real burden then falling on the law-abiding poor.

Op-Ed: Nigeria’s disinflation trend ends, as does land-based trade

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By <a href="https://theconversation.com/profiles/divine-kwaku-ahadzie-797968">Divine Kwaku Ahadzie</a>, <a href="http://theconversation.com/institutions/kwame-nkrumah-university-of-science-and-technology-knust-3522">Kwame Nkrumah University of Science and Technology (KNUST)</a> 

Over the past two decades, Ghana’s <a href="https://oxfordbusinessgroup.com/overview/forward-momentum-construction-sector-continues-be-major-engine-growth">construction sector</a> has both contributed to and benefited from a rapidly growing economy. The government is investing in rail, road and property projects across the country amid strong demand created by an expanding urban service economy. This is reflected in the increased spend in the 2019 <a href="https://www.pwc.com/gh/en/assets/pdf/2019-budget-highlights.pdf">budget</a>.

In 2016 and 2017, construction contributed 13.7% to GDP. It remains among the fastest growing of the 21 sub-sectors of the economy, according to Ghana Statistical Service <a href="http://www.statsghana.gov.gh/gssmain/storage/img/marqueeupdater/Annual_2013_2018_GDP_April%202019%20Edition.pdf">data</a> and it employs at least 3% of the <a href="http://www.statsghana.gov.gh/gssmain/storage/img/marqueeupdater/Annual_2013_2018_GDP_April%202019%20Edition.pdf">labour force</a>.

Ghana has joined the group of frontier <a href="https://allafrica.com/stories/201812070220.html">emerging</a> markets. It is moving towards becoming an advanced economy characterised by political stability, rapid economic growth and industrialisation. But rapid urbanisation could also create slums if infrastructure does not keep pace.

<a href="https://webapps.knust.edu.gh/staff/dirsearch/profile/blog/8e18e316170b/From-Developing-to-an-Emerging-Economy-The-Stakes-for-the-Ghanaian-Construction-Industry.html">My research</a> looked into whether the construction industry has the policies and strategies it needs in place to continue supporting Ghana’s economic growth. I found that it needs to be structured and regulated to be more competitive. 

This is not happening as fast as it should.

<h2>Construction and economic growth</h2>

Frontier emerging economies are <a href="https://marketrealist.com/2014/09/characteristics-frontier-markets/">characterised</a> by relatively low per capita income, high unemployment and low activity in business and industry. Though Ghana has created a structural and economic environment that inspires some confidence in attracting <a href="https://www.gipcghana.com/press-and-media/680-ghana-attracts-over-us-3-5-bn-fdi-in-2018.html">global </a>investments, much still needs to be done and the political dispensation needs to remain stable. 

One theory is that construction industry activities are critical in driving faster development towards emerging economy status. Known as the <a href="https://www.tandfonline.com/doi/abs/10.1080/01446193.2011.578959">Bon Curve</a>, it suggests that, as a nation migrates from developing country status to an emerging economy, it must be fully prepared to tap into the increasing volumes of construction activities that are critical in driving the accelerated development expected.

A construction sector index developed by the academic Victor Osei shows that the industry in Ghana has improved significantly over the last two decades. Osei also <a href="https://pdfs.semanticscholar.org/80e8/e45bcb8be45a2dc11520c013a1f5d5326b5f.pdf?_ga=2.238966596.531414011.1570391299-164945947.1570391299">demonstrated</a> that there has always been a positive relationship between construction activities and growth of the wider economy. 

In theory, the Ghanaian construction industry should be at the point of being able to propel that economic growth. It employs over 320,000 people and more than 2% of young people, as well as providing more training and apprenticeship opportunities to young people than any other <a href="http://www2.statsghana.gov.gh/docfiles/IBES_Questionnaires/IBES%201%20reports/NATIONAL%20EMPLOYMENT%20REPORT_FINAL%20%2024-5-16.pdf">sector</a>. This can only happen if appropriate strategic action plans are put in place. These include efforts to integrate the informal sector. 

Industry players have <a href="https://thebftonline.com/2018/business/companies/construction-industry-development-authority-a-priority-for-us-contractors/">called</a> for an industry development agenda which would provide an overall structure and direction. Efforts have been made towards drafting a construction industry development authority bill. 

Progress however has been slow. One reason is the lack of a unified construction industry body to lobby the government to pass the bill. Attempts to bring various professional bodies together have been met with apathy. Civil engineers, planners, architects, surveyors involved in the sector are instead on entrenching their positions within the sector. 

The industry bodies are also generally uncompetitive. This is because they have remained traditional. They have failed to transform current economic demand into an opportunity to compete with international players and to access new markets in, for instance, the sub-region. 

<h2>Informal and wasteful</h2>

This is consequent on the lack of deliberate policy direction in raising first-class contractors to be global competitors. Because of the transient nature of activities in the sector and its ability to absorb relatively large numbers of unskilled workers, the sector is also heavily informal. 

Above all, it appears that the political elite are using the industry to <a href="https://www.myjoyonline.com/opinion/2019/July-16th/infrastructure-development-in-ghana-wealth-creation-or-wealth-consumption.php">consume</a> wealth. This happens when projects are discontinued upon a change of government or completely abandoned. This leads to locked-up capital in several abandoned projects. 

Even though the constitution of Ghana mandates succeeding governments to continue projects started by their predecessors, it rarely happens. Completed projects that have turned into white elephants are <a href="https://citinewsroom.com/2019/02/govt-misses-deadlines-for-completion-of-abandoned-hospitals/">constantly in the news</a> and the political class plays the blame game. 

There are lessons to be learnt from emerging economies such as China, Brazil, South Africa and India, whose contractors are beginning to influence the international market. They all have an apex body regulating and providing a deliberate construction industry development agenda. They have taken steps to enhance productivity and efficiency; set performance standards and integrate new technologies for efficiency. They have also improved occupational safety, health and environmental practices. They encourage technology transfer including export of construction products. 

The global construction space is becoming more technologically advanced. Ghana cannot afford to remain stagnant and uncompetitive. There have been several <a href="https://www.graphic.com.gh/news/general-news/establish-regulatory-body-for-construction-industry-govt-urged.html">calls</a> for government policies to support better project management practices. 

The starting point would be to pass the construction bill into law. That would provide space to pursue the construction industry developmental agenda, in tandem with Ghana’s quest to become a firmly rooted middle income economy.<img loading="lazy" decoding="async" src="https://counter.theconversation.com/content/124733/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important">

<a href="https://theconversation.com/profiles/divine-kwaku-ahadzie-797968">Divine Kwaku Ahadzie</a>, Associate Professor of Competencies/Skills Development in Housing and Construction, <a href="http://theconversation.com/institutions/kwame-nkrumah-university-of-science-and-technology-knust-3522">Kwame Nkrumah University of Science and Technology (KNUST)</a>

This article is republished from <a href="http://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/ghanas-construction-industry-is-lively-but-needs-regulation-124733">original article</a>.

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What’s holding back South Africa’s economy?

Post #MTBPS2019 analysis: Finding solutions to SA’s debt crisis

Post #MTBPS2019 analysis: Business react to finmin Mboweni’s #midtermbudget speech

Post #MTBPS2019 analysis: Will State Owned Enterprises throw SA into junk status with Moody’s?

Why the Arsenal deal is a big win for Rwandan tourism

Is Senegal’s president using political manoeuvres to mask authoritarian tactics ?

Here’s how Absa is planning to take you further into Africa than ever before

Nigeria cracks down on abusive Islamic schools

These are the highest paid players in the NBA right now

Dubai Expo 2020: What will it mean for African investment?

How traditional broadcasters are reinventing themselves in the digital age

Bailouts for Eskom – throwing money into a bottomless pit

Hellen Zille staged a coup and the DA allowed her – Ralph Mathekga

Op-Ed: Three challenges to overcome for more sustainable farming in Nigeria

Op-Ed: Nigeria’s disinflation trend ends, as does land-based trade

#TheHashtag: Billionaire Mark Cuban’s lessons for entrepreneurs & SA vs. Japan at #RWC2019

Ghana’s construction industry is lively but it cannot afford to remain stagnant and uncompetitive

News Tips

Advertise With Us

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