Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
You are now subscribed
Your newsletter sign-up was successful
Want to add more newsletters?
Twice daily
MoneyWeek
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
Four times a week
Look After My Bills
Sign up to our free money-saving newsletter, filled with the latest news and expert advice to help you find the best tips and deals for managing your bills. Start saving today!
Over the past week, at least 22 people have been killed, hundreds more injured and 10,000 forced to flee their burned and looted homes in poor townships around Johannesburg after a series of attacks on immigrants by groups of South Africans.
Such violence may have surprised foreigners who view South Africa as a "modern, industrialised country, with one of the worlds most progressive constitutions", says Sean Jacobs in The Guardian. But the truth is that South Africa is also one of the "most xenophobic countries in the world".
Maybe, agrees Tendani Siala in The Sunday Times' South African edition, but you can't blame locals for worrying about the unprecedented flood of immigrants over the past decade. More than three million Zimbabweans alone have fled here since 2000, and although South Africa's economy has been booming averaging growth of more than 5% over the past five years very little of the wealth has filtered down.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Worse, local South Africans think immigrants and refugees are stealing their jobs, houses, and some men even think they're stealing their women. All this is embarrassing for Mbeki, who has made African solidarity a pillar of his presidency. What's needed now is a "massive anti-xenophobia education drive" alongside concerted efforts to help all South Africa's vulnerable families.
That's all very well, but many South Africans think Mbeki should simply leave the country and never come back, says Barney Mthombothi in The Wall Street Journal. The real problem here is Zimbabwe, whose recent violence is an indictment of Mbeki's "quiet diplomacy". His indulgence of the Mugabe regime has "severely damaged his country's image and interests". Zimbabwe could "have cemented Mbeki's legacy as one of Africa's great statesmen of his time". Instead, it will contribute to his downfall.
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Average UK house price reaches £300,000 for first time, Halifax saysWhile the average house price has topped £300k, regional disparities still remain, Halifax finds.
-
Barings Emerging Europe trust bounces back from Russia woesBarings Emerging Europe trust has added the Middle East and Africa to its mandate, delivering a strong recovery, says Max King
