Latest news with #PhumzileMlamboNgcuka
The Herald
3 days ago
- Business
- The Herald
Improving literacy key to breaking cycle of poverty
A report by the 2030 Reading Panel, chaired by former deputy president Phumzile Mlambo-Ngcuka, has laid bare the devastating state of literacy in SA. A staggering 80% of grade 3 pupils cannot read for meaning in any language. In the foundational phase of education, when children should be learning the basics of reading and comprehension, SA is failing most of its young learners. At schools like Bongolethu and Glentana Junior Primary, in Nqweba (formerly Kirkwood) the situation is dire. The shortage of classrooms and qualified teachers is so acute that principals have begged for container classrooms just to reduce overcrowding. Teachers manage classes of up to 70 children, making one-on-one instruction impossible. With no libraries, limited books, and little to no security, these schools are trying to operate under conditions that make meaningful learning nearly impossible. The collapse of foundational literacy is a social emergency. Illiteracy affects a child's ability to succeed across all subjects and it affects their ability to participate in society, find employment, and break the cycle of poverty. As noted by education expert Mary Metcalfe, children who cannot read by grade 4 fall further behind each year as the curriculum becomes increasingly reliant on reading skills. Without urgent intervention, these children are being set up for systemic exclusion. The 2024 Reading Panel report makes it clear that SA is producing only half the number of foundation-phase teachers it needs. Early learning programmes reach too few children, with more than a million aged 3 to 5 still not enrolled. And the country spends a mere 0.5% of its budget on ECD, which is far below what is needed to build a literate future. We know what is possible when effort is put into grassroots literacy, as evidenced at schools like Astra Primary. The Gqeberha school launched a literacy initiative centre in 2019 that has reshaped classroom culture and sparked a love of reading. The results are tangible and it has started a movement of sorts that is spreading throughout the community, though space is limited. Over three weeks, The Herald, Daily Dispatch and Sowetan take a deep dive into the state of reading in SA, sharing lessons that would, we hope, spark necessary action and change to improve literacy levels. Our 'Turning the Page' project was made possible by the Henry Nxumalo Foundation. The Herald
Zawya
29-05-2025
- Business
- Zawya
CFA Institute Report Examines Policy Solutions to Capital Formation Barriers in Africa and the Role Private Markets Could Play in this Development
New research from CFA Institute ( Capital Formation in Africa: A Case for Private Markets ( examines the case for mobilizing private capital to support the structural investment needs of sub-Saharan Africa. The research identifies and analyses existing barriers to the development of capital markets and offers a series of policy recommendations for regulators, policymakers, the investment industry, and international institutions active in the region. Structured as a series of market-specific chapters, Capital Formation in Africa: A Case for Private Markets ( covers 11 African economies, with contributions from local investment industry leaders in Botswana, Ethiopia, Kenya, Mauritius, Nigeria, South Africa, Uganda, West Africa (with a focus on Côte d'Ivoire and Senegal), Zambia, and Zimbabwe. Dr. Phumzile Mlambo-Ngcuka, Former Deputy President of South Africa, writes in her foreword to the research: 'The CFA Institute research illuminates the current state of Africa's capital markets but also serves as a call for stakeholders to engage thoughtfully with the markets evolving dynamics. It is my hope that this work will inspire policy reform and innovative solutions that navigate the complexities of capital formation with investor protection and strategic foresight. In doing so, we can shape the future of finance and drive the socioeconomic development of Africa.' Ahmed Rashad Attout, Director of Financial Sector Development at the African Development Bank, also comments in his foreword to the research: 'At the African Development Bank, we are committed to building enduring partnerships with stakeholders who share our vision of a prosperous, inclusive, resilient, and integrated Africa. It is in that spirit that we welcome this important research from CFA Institute. The publication provides a much-needed local perspective on capital market development in Africa. Its conclusions and recommendations provide a basis for advancing the development of the investment solutions needed to build the efficient, dynamic, and integrated capital markets that Africa needs to drive its development agenda.' The research will be launched today in Abidjan, where the African Development Bank is holding its annual meeting, during a panel discussion ( moderated by Olivier Fines, CFA, Head of Policy Research and Advocacy at CFA Institute. Fines adds: 'There is historically a strong correlation in various parts of the world between capital market development and socioeconomic progress. This research seeks to consider the main barriers to capital formation in sub-Sahara Africa and whether private markets, particularly private equity and private debt, can be a catalyst for stronger capital market development in the region. The authors believe private capital is particularly suited to the region's current structural investment needs, including infrastructure and small- and medium-sized enterprise funding. The research also considers the potential for mixed finance projects and offers enduring lessons for sub-Saharan Africa based on the successes of the Asian tiger economies.' Recommendations in the report: For Regulators and Policymakers: Offer regulatory clarity and predictability through clear roadmaps and policy consultations when making significant changes to existing legislation Issue guidance on the regulatory treatment of private assets Develop strong and standardized corporate governance rules to improve corporate governance practices, the bedrock of investor confidence For Governments: Consider forming public-private partnerships to stimulate the growth of financial infrastructure Collaborate with local firms to deliver investor education campaigns and offer grants and scholarships to students and early-career professionals pursuing accredited professional licensing qualifications Consider initiating projects to create endowment-like funds aimed at generating economic growth in various sectors of the economy Coordination between public authorizers and the private sector can make clearer the objective to integrate capital markets within the economic fabric of society For Institutional Investors and the Investment Industry in Sub-Saharan Africa: Allocate resources and provide incentives for professionals to improve their skills; identify areas of skill deficits and recruit talent to address gaps Consider targeting small- and medium-sized enterprises in marketing campaigns that highlight the availability of funding and capital-raising options Develop private markets by aligning long-term and stable financing needs of SMEs and startups with private market's long-term investment horizon Leverage local institutional investors (local pension funds, insurance firms, and sovereign wealth funds) as long-term anchor investors in capital markets Distributed by APO Group on behalf of CFA Institute. For further information or to speak with the research authors, please contact: pr@ Follow CFA Institute on: LinkedIn X : @ CFAInstitute. About CFA Institute: As the global association of investment professionals, CFA Institute sets the standard for professional excellence and credentials. We champion ethical behavior in investment markets and serve as the leading source of learning and research for the investment industry. We believe in fostering an environment where investors' interests come first, markets function at their best, and economies grow. With more than 200,000 charterholders worldwide across 160 markets, CFA Institute has 10 offices and 160 local societies. Find us at About the CFA Institute Research and Policy Center: The CFA Institute Research and Policy Center brings together CFA Institute expertise along with a diverse, cross-disciplinary community of subject matter experts working collaboratively to address complex problems. It is informed by the perspective of practitioners and the convening power, impartiality, and credibility of CFA Institute, whose mission is to lead the investment profession globally. Visit the Research and Policy Center at
