Devote Your Education to Community Service

first_imgVice President Joseph Boakai has urged the graduating class of Nimba County Community College (NCCC) to devote their acquired education to community service as they walked out of the walls of the institution. VP Boakai’s admonition was contained in his commencement keynote address delivered at NCCC’s first convocation in Sanniqullie, Nimba County.Speaking on the topic “Devoting your Education to Community Service,” he called on the graduates to not treat his message as simple, trite or even mundane, but to accept it owing to the often mischaracterized weight assigned to virtues that undergird genuine service to community.“This is so because we have to realize the importance of commitment, diligence and patriotism as the ingredients needed for any society to develop and make progress,” he said.“You hold in your frame and fabric the capacity to make a difference in the mix of the turbulence that currently engulfs our political-economic landscape.”The VP reminded the graduates that their engagements only need to embody commitment, diligence and love for their country.“Our society is plagued by a long list of vices including greed, apathy, envy, theft, cheating, impatience, cynicism, ingratitude and worse, the resort to mob justice,” he said.In regards to these vices, Mr. Boakai cautioned the graduates to observe their roles as individuals belonging to a class, and be prepared to step forth and combat the contagious enticements of the aforementioned vices.“You stand today at a junction, projecting before you two paths from the forks of the road in your journey. The path you embark upon will be as critical to your very existence as it will be to the community in which you live and interact with your fellowmen.“Much like I have warned other peers of yours as they trooped out of the corridors of universities, let me similarly admonish you to not sit on your laurels, dose off in complacency or expect that now that you have earned a university degree, all things will come falling your way,” he told the graduates. He called on them to go forth with the right mental attitude, remaining true to the fine molding they have undergone in the classrooms and set fine examples as people who have acquired what was required of them.But should they do the contrary, Boakai warned: “Throughout all the years, all you have nursed is an aptitude for following the crowd and stooping for shortcuts and bypasses, settling for the ordinary; then of course your celebration amounts to naught, as far as the collective interest of society is concerned.” The NCCC’s first Commencement Convocation exercise, which started on December 8, was characterized by many activities beginning with the Faculty and Staff Night, the Students Class Night, the College President Tea Party and the Baccalaureate Service.The NCCC graduated 167 students who studied 14 disciplines including General Agriculture, Forestry, Natural Resource Management, Geology, Laboratory Technology, Nursing, Information Technology, Public Administration, Management, Accounting, Economic, Criminal Justice, Primary and Secondary Education as well as Gender Development Studies. 72 of the graduates come from the department of Science and Agriculture.The NCCC was established in 2010, but started full academic activities in 2011. It is run by the school’s president, Dr. Yar Gonway Donlah Gono.Dr. Gono said the school grew from 438 students to 1, 388, confirming the strong desire young Liberians have for education.The occasion was attended by high profile government officials and representatives from other colleges and universities around the country, including: Associate Justice Kabineh Ja’neh; Minister of National Defense, Brownie J. Samukai Jr.; the Director General of the National Commission on Higher Education, Dr. Michael Slawon; and the Minister of Post and Telecommunication, Dr. Federick Norkeh. Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)last_img read more

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160 Days to Go

first_imgFrom left: Boakai (UP), Brumskine (LP), Jones (MOVEE), Cummings (ANC) and Urey (ALP)There remains 160 days from today to the much talked about historical presidential and legislative elections that many Liberians believe would change the destiny of the country.The day, October 10, will determine eventual changes in the body politic of the country. Though there is much talk about the reality of the ‘controversial’ Code of Conduct, many Liberians interviewed are hopeful that there will be a way out for the country to move in unity.“The current progress is irreversible,” stated Ms. Saviour Tweh, a student of a university in Monrovia, “we cannot afford to let things divide us.” Hence many Liberians recognize the fact that whatever is done in the process to ensure transparency to the next government must be done with consistency of purpose, geared at greater unity for Liberia.Though some of the people interviewed said much has not been done in the last 12 years of President Sirleaf’s Administration, pointing the slow level of development and the increasing cost of living and the inability to control the rise of the United States’ dollar to the Liberian, such claims have been compared to former President Charles Taylor’s administration where he decided and the business community complied with his decisions as they affected the economic lives of the people.  It is the political leader of the Movement for Democratic Change (MOVEE), Dr. Joseph Mills Jones, who said last week during a tour of Bong County, “It is not that nothing was done, but much was not done.” He was making reference to the poor state of development in both the people and the country and even stated that when the Republic of Ghana was gaining independence in 1957, Liberia was 110 years old. “Ghana has left us behind in development and why?” he said, insisting it was because of poor leadership.Many Liberians, like Dr. Jones, believe that poor administrative strategies have failed the country since independence in 1847, and therefore, “we must stop doing business and begin to put people who have shown by their record that they have the people’s interest at heart.” He said last week in Salala that whenever Liberia is mentioned, people don’t mean trees and rocks but the people, hence Liberians must seek for leaders who have made impacts on their lives.And though Dr. Jones appears to have a clear-cut agenda or platform for the future, which reflects on his background as an economist, and the financial inclusion policy, which he explored at the Central Bank of Liberia (CBL), many of the political parties have not revealed what they would do differently.Many have also re-echoed the need to improve on education, infrastructure and ensure in vague terms that County Development and Social Development Funds allotted to counties annually would be used to benefit all. The Alternative National Congress (ANC) of Alexander Cummings has promised good leadership because it has the political will to ‘send corrupt officials to jail’ to defeat corruption. But his offer, among suggestions, is yet to be applauded evidence by statements that seem to indicate he might be affected by the controversial Code of Conduct (CoC), for his role as a member of the BWI Board of Directors of which he did not resign, two years before declaring his intent to run for office.On the other hand, All Liberia Party’s Benoni Urey, from recent statements is comfortable with the presence of the Code of Conduct and has indicated his unwillingness for any individual or group to recommend any suggestion to minimize the power of the Code of Conduct. Urey, an astute farmer, is reported to have gained popularity in the leeward counties and believes to be among unidentified frontrunners. Urey did not take it lightly with Governance Commission chairman, Dr. Amos Sawyer, for his recent suggestion for the government to ignore the Code of Conduct.Both the Liberty Party’s Charles Walker Brumskine and the Coalition of Democratic Change (CDC) see a new day to make a difference. The CDC has recently intensified membership campaigns after a number of defections and the LP has also benefitted from new members, including Musa Bility and vice standard bearer Harrison Kanwea of Nimba County. Criticized for his recent outburst against Vice President Boakai, Brumskine is working slowly but surely toward the objective he sought two elections ago.In all this, the objective is how to maintain peace and for this there are Liberians who have said that for the country to move forward there must be some justice against certain individuals who contributed to the country’s dark past, and have suggested that unless some of the people are sent to jail, the attainment of peace would be elusive.But as far as ensuring that some Liberians are held liable for the war, many others seem not to agree that anyone should be tried for the crimes committed during the war, because of arrangements made with the warlords, which ensured the restoration of peace to the country.  Howeverk the Truth and Reconciliation Commission, set up after the war, made some recommendations that are yet to be implemented, and others ignored for the sake of peace.Vice President Joseph N. Boakai, as a sitting second in command, is held with respect, and many are of the opinion that he could easily assume the mantle of leadership from President Sirleaf, though he may be tainted by the “faults” of the current administration.  Therefore, to allow him to continue would be to allow the same party to be in power for a third term, reminiscent of the years when Liberia was governed as a one-party state, from 1847-1980.Though many of the political parties are set for the contest on October 10, there is still the issue of the Code of Conduct (CoC) that was upheld as law by the Supreme Court that seems to indict several politicians, who did not actually resign from their posts, but were later petitioned to join the contest.The CoC makes references to “anyone with the desire to run for office” and many of those who did not resign and were later petitioned to run have said they did not have the desire to join the race till they were retired from their positions and were petitioned.The Coalition for Democratic Change (CDC) of Senator George Weah and the All Liberian Party (ALP) of Benoni Urey has called for the CoC to be upheld and have vowed to ensure that the country’s law is rigid and respected.Already many politicians have made huge investments in the country after National Elections Commission (NEC) qualified their respective parties, and have acquired large followings. Therefore, for any law to make any attempt to deny them the right to contest as mandated by the Constitution of Liberia could be a cause for discord.Many of those interviewed did not show any sign that they worried about the CoC being the cause for potential instability, but the Economic Community of West African States (ECOWAS) and their international counterparts recently issued a statement indicating how worried they are about the eventual withdrawal of the United Nations Mission in Liberia (UNMIL) forces from Liberia.With just 160 days to elections, what seems to be a key distraction is the claim that NEC chairman Cllr. Jerome Korkoya holds United States citizenship for which the National Democratic Coalition (NDC) recently threatened to go to court to remove him from the position.In any event, the government, the Supreme Court and the people of Liberia would have to determine what laws to uphold to sustain peace in a country that for 14 years saw many deaths and an insidious disease (Ebola) that killed over 4,000 others.Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)last_img read more

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Fort St. John Soccer Club still looking for youth soccer coaches

first_imgFORT ST. JOHN, B.C. – The Fort St. John Soccer Club has closed house league registration and is set to begin the regular season on April 30th, but they still need ten more youth soccer coaches.559 Fort St. John residents signed up for the house league program. The Inaugural house league tournament last week saw around 80 percent of registered players playing in the tournament.The house league will run divisions in U3-U4 Co-Ed, U5 Co-Ed, U7 Boys and Girls, U9 Boys and Girls, U11 Boys and Girls, U13 Boys and Girls, U15 Co-Ed, and U17-19 Co-Ed. They need two coaches in the U3-U4 Co-Ed division, the U5 Co-Ed division, the U7 Boys division, the U7 Girls division, and the U9 Boys division.- Advertisement -The competitive division’s Fort St. John Northern Strikers have already started their season as multiple teams travelled to the Gold Pan Tournament in Quesnel last weekend. Nine U15 players on the Northern Strikers also tried out for the B.C. Summer games team and are waiting to see if they make it to the second round of tryouts. Players from the U15 Boys trying out are Lee West, Dylan Buziak, Liam McGarvey, Sam Hafner, Jacob Haluszka, Harrison Sewell, and Tyson Nielsen. The two U15 Girls that tried out are Bella Ziebart and Mykenzie Beech.The U15 Boys have been invited back for an additional tryout in the next couple weeks. The girl’s results will be announced in two weeks.last_img read more

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Man City chairman promises “high-quality” signings this summer

first_imgManchester City chairman Khaldoon Al Mubarak has promised “high-quality” signings this summer after admitting the team failed to match expectations last season.City mounted an underwhelming defence of the Barclays Premier League title they won in 2014, capitulating in the second half of the campaign and failing to challenge champions Chelsea.They also flopped in both domestic cup competitions while their Champions League challenge was ended at the last-16 stage for a second successive season by Barcelona.Manuel Pellegrini’s men did recover to secure the runners-up spot in the Premier League – and Khaldoon recognises that relative success in the club’s history – but ambitious owner Sheikh Mansour is aiming much higher.Pellegrini’s position as manager appears to be safe but a significant injection of fresh faces to the squad is planned.Speaking in an interview with City TV to be published on Thursday, Khaldoon said: “We have a great nucleus here and we want to preserve this nucleus – but at the same time we want to go the next level.“We want a squad that is able and has the capability and quality to win the Premier League, compete and win the Champions League, compete and be able to go all the way in two cup competitions in England.“I think you will see some changes. You will see some players who have served us well and maybe it is time for them to move to their next challenge, and you will see us in the market bringing high-quality individuals that fit within what we are aspiring to coming in this summer.“I can assure you the squad will be stronger, the team will be more competitive. I am both confident and excited about what is coming next year.“I want the disappointment of last year behind me, behind us all. We have all turned the page. The energy right now is positive, the energy towards getting back on track, winning that Premier League and getting a better performance in the Champions League. This is absolutely what is driving all of us right now.”City have been heavily linked with Wolfsburg midfielder Kevin de Bruyne while Juventus star Paul Pogba and Liverpool’s Raheem Sterling are other reported targets.But Khaldoon insists there will be no return to the heavy spending that characterised the early years of the sheikh’s ownership following his 2008 takeover.He said: “We have gone from a club that was making promises of a future from a very low standpoint and therefore struggling to attract the quality of the players we would have aspired to. We were at a point having to pay big premiums in order to attract the type of players we wanted to attract.“Today I think we are in a different position. We are a club players want to come and play for. We are an institution today.“We can compete head to head with all the top clubs and players look at the track record of Manchester City over the last couple of years, look at the City Football Academy, the facilities we have, the infrastructure we have, look at the people we have in terms of management and coaches, look at the environment we have created here in Manchester. We have a very attractive proposition.” 1 Manchester City chairman Khaldoon Al Mubarak last_img read more

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Carlisle 0-3 Everton: Kone, Lennon and Barkley fire the Toffees into the fifth round of the FA Cup

first_imgEverton cruised into the fifth round of the FA Cup after putting three past Carlisle United at Brunton Park.Arouna Koné, Aaron Lennon and Ross Barkley got their names on the scoresheet, in a comfortable victory over the League Two outfit.It took only 90 seconds for the Toffees to stamp their authority on the game, and striker Koné – getting a rare start ahead of Romelu Lukaku – got the first goal of the game.Aaron Lennon surged into the box on the right flank, squaring the ball to Koné at the back post, who had the simplest of openings to tap home.Carlisle striker Derek Asamoah could have equalised for the hosts after two fine opportunities, gifted to him by sloppy Toffees defending, but he lacked composure.But only a few minutes later, Everton doubled their lead when Lennon – turning from provider to finisher – got his name on the scoresheet.After sublime play from Ross Barkley and Bryan Oviedo, the latter delivered a cross to former Tottenham Hotspur winger Lennon, whose excellent touch took him away from Mark Ellis, providing the space to then slot the ball into the back of the net.Despite the scoreline, Carlisle kept plugging away, with Asamoah continuing to look dangerous, while Toffees errors at the back awarded the League Two side plenty of set piece opportunities.They weren’t able to grasp their chances, though, leaving Everton in firm control at the break.While some may have looked back at Bradford City’s Cup heroics at Stamford Bridge last season, when they came from two goals down to seal a 4-2 victory over Chelsea, to show that anything can happen in the FA Cup, in truth the tie felt virtually done and dusted at the break.The hosts did emerge from the dressing room eager to ruffle the feathers of their Premier League opponents, but Carlisle’s resolve was finally halted by Ross Barkley.The England international was causing plenty of problems and, with little over 20 minutes to go, his powerful effort from 20 yards deflected off the head of Ellis, leaving Mark Gillespie helpless to stop the strike from hitting the back of the net.To their credit, the Cumbrians searched for a consolation goal, but their attempts proved fruitless as Everton emerged from their Brunton Park test with a clean sheet.After a disappointing run in the Premier League and a controversial exit in the League Cup this week, Toffees boss Roberto Martinez could hardly have asked for more. 1 Everton cruised into the fifth round of the FA Cup last_img read more

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MAN DAMAGED GARDA’S PRIVATE CAR WHEN HE THREW BOTTLE OF VODKA

first_imgA man caused €356 of damage to an off-duty Garda’s car when he struck it with a bottle of vodka.Rory Gildea, 22 was walking home from a party in Ballybofey when he threw the bottle across a road.Garda Kieran McDermott was driving home after completing his shift when the bottle struck the grill of his car, Letterkenny District Court was told. He contacted his colleagues who quickly arrested Gildea, of Forest View, Ballybofey.Solicitor for Gildea, Mr Kieran Dillon, said his client did not know Garda McDermott but was merely discarding the bottle which accidentally struck the passing car.He said he had never had any dealings with the Garda and was very sorry for the incident.Gildea appeared in court charged with criminal damage, intoxication and using threatening abusive or insulting behaviour.Judge Paul Kelly said the incident could have had very serious consequences for Garda McDermott.Inspector John O’Toole told the court that Gildea, whose partner is expecting a child, has previous convictions for burglary and criminal damage.Judge Kelly adjourned the case until May 25th for a probation report.He warned that he may not be in a position to give the accused community service.“This man has been causing a lot of trouble and he could have caused an accident with very serious consequences,” he said.MAN DAMAGED GARDA’S PRIVATE CAR WHEN HE THREW BOTTLE OF VODKA was last modified: March 20th, 2015 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window)last_img read more

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GAA: RESULTS ROUND-UP

first_imgMarley Coach Hire Division FourDateTeam 1ScoreScoreTeam 2VenueComment11-Jun-2011Red Hughs1 – 171 – 12ConvoyRed Hughs11-Jun-2011Naomh Padraig-Muff0 – 131 – 7Naomh Padraig LeifearMuff11-Jun-2011Naomh Ultan1 – 91 – 6Robert EmmetsDunkineelyCentra Supermarkets Division ThreeDateTeam 1ScoreScoreTeam 2VenueComment11-Jun-2011Buncrana1 – 91 – 6DowningsBuncrana Scarvey11-Jun-2011Naomh Colmcille1 – 142 – 14Aodh RuadhPairc ColmcilleBrian McCormack Sports Division One ReserveDateTeam 1ScoreScoreTeam 2VenueComment11-Jun-2011Four Masters2 – 110 – 11Naomh ConaillTir Chonaill Park Donegal TownBrian McCormack Sports Division OneDateTeam 1ScoreScoreTeam 2VenueComment11-Jun-2011St Eunans0 – 120 – 10Gaoth DobhairO Donnell ParkCentra Supermarkets Division ThreeDateTeam 1ScoreScoreTeam 2VenueComment11-Jun-2011Naomh Brid0 – 61 – 11BurtNaomh BridMcGlynns Resturant Castlefin Division TwoDateTeam 1ScoreScoreTeam 2VenueComment11-Jun-2011Sean MacCumhaills0 – 132 – 6GlenfinSean MacCumhaillsBrian McCormack Sports Division OneDateTeam 1ScoreScoreTeam 2VenueComment11-Jun-2011Cloughaneely0 – 90 – 5MalinPairc Naomh Fionnan FalcarraghMarley Coach Hire Division Four ReserveDateTeam 1ScoreScoreTeam 2VenueComment11-Jun-2011Naomh Ultan2 – 101 – 5Robert EmmetsDunkineelyCentra Supermarkets Division Three ReserveDateTeam 1ScoreScoreTeam 2VenueComment11-Jun-2011Naomh Colmcille0 – 61 – 19Aodh RuadhPairc ColmcilleBrian McCormack Sports Division One ReserveDateTeam 1ScoreScoreTeam 2VenueComment11-Jun-2011Cloughaneely2 – 200 – 5MalinPairc Naomh Fionnan FalcarraghBrian McCormack Sports Division OneDateTeam 1ScoreScoreTeam 2VenueComment11-Jun-2011Four Masters2 – 141 – 9Naomh ConaillTir Chonaill Park Donegal TownMcGlynns Resturant Castlefin Division Two ReserveDateTeam 1ScoreScoreTeam 2VenueComment11-Jun-2011Sean MacCumhaills4 – 84 – 6GlenfinSean MacCumhaillsCentra Supermarkets Division Three ReserveDateTeam 1ScoreScoreTeam 2VenueComment11-Jun-2011Buncrana3 – 93 – 7DowningsBuncrana ScarveyBrian McCormack Sports Division One ReserveDateTeam 1ScoreScoreTeam 2VenueComment11-Jun-2011St Eunans2 – 73 – 9Gaoth DobhairO Donnell ParkBrian McCormack Sports Division OneDateTeam 1ScoreScoreTeam 2VenueComment10-Jun-2011Dungloe0 – 111 – 8ArdaraDungloeBrian McCormack Sports Division One ReserveDateTeam 1ScoreScoreTeam 2VenueComment10-Jun-2011Dungloe1 – 90 – 8ArdaraDungloeGAA: RESULTS ROUND-UP was last modified: June 13th, 2011 by gregShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window)last_img read more

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GIVEN TO START IN FA CUP FINAL

first_imgShay Given is to start for Aston Villa in this afternoons FA Cup Final against Arsenal at Wembley.The FA Cup semi final win against Liverpool at Wembley Stadium was a breakthrough moment for Given and Villa seeing them defeat three Premier League sides on the road to today’s final with Shay playing in all five games.A win today would be a dream end to the Lifford man’s season and would ensure Villa with qualification for the Europa League. Although no stranger to Cup Final day, for the most part it’s been bittersweet for the Donegal man. Having played for Newcastle against Arsenal in the 1998 Cup final only to lose. To then return a year later to Wembley and yet another FA Cup Final only to be left on the bench by Ruud Gullit as Newcastle were defeated by Manchester United. He finally got a winner’s medal, as a Manchester City player in 2011. However he spent the afternoon on the bench watching from the sidelines. To win the FA Cup at this stage of his footballing career would be huge moment for Given and if they manage to overcome the odds and lift the trophy a monumental day for Villa. Arsenal are hungry for their second consecutive FA Cup win, while Aston Villa are hoping to win their first silverware since 1996.Arsenal will become the most successful team in the history of the FA Cup, If they win again this weekend, they will not only be the eighth side to retain the FA Cup but will become the first team to lift it 12 times.They start as strong favourites against a Villa side heading to their first FA Cup final for 15 years and who have not won the trophy since 1957. So it’s fair to say that Given and the rest of the Aston Villa side are not just in it for a day out. All the best Shay the whole of Donegal are behind you!GIVEN TO START IN FA CUP FINAL was last modified: May 30th, 2015 by Mark ForkerShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:donegalEntertainmentnewsShay GivensoccerSportlast_img read more

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Small uptick in South Africa’s consumer credit health

first_imgTransUnion, global credit and information management analyst, has released its South African Consumer Credit Index (CCI) report for the second quarter of the year. The index is unchanged from the first quarter, at 54.4.This indicates a marginal improvement in consumer credit health for the second quarter and the first half of the year compared to 2014, says the group. In addition, there has been an improvement in new account defaults and distressed borrowing levels.However, while the report shows a number of positive aspects, on-going economic challenges indicate that consumers are still under strain and will continue to feel the pressure in the second half of the year.The CCI is an indicator of consumer credit health that measures the ability of consumers to service existing credit obligations within the constraints of their monthly household budget. It is based on a 100-point scale, where 50.0 is the break-even level between improvement and deterioration of credit health.“Any number above 50 in the context of the CCI means that consumer credit health has improved over the past year,” explained Owen Sorour, the senior vice-president of analytic and decisioning solutions. “However, a number under 55 is considered only a moderate improvement. Given that the Q2 CCI is the same as Q1, we can ascertain that credit health has stabilised for the time being.“The improvement can be attributed in large part to more conservative lending from credit providers. We have seen a drop in the number of credit applications and an increase in the rate of declined applications, and these more prudent lending requirements by providers are paying off,” Sorour said.“However, despite this promising trend, the future for consumers is not optimistic. In the past few months the exchange rate and instability of the rand have resulted in price increases, and a recent interest rate hike will further contribute to decreased cash flow.”Fewer defaults, less distressed borrowingAccording to the TransUnion payment profile database, the rate of new consumer loan defaults, (accounts three months in arrears) declined by 8.3% year-on-year in Q2, compared with an 8.5% year-on-year decline in the first quarter. The rate of this decline has slowed since late 2014, which indicates that the best phase of improvement in repayment records may now be in the past.Distressed borrowing shows the amount of revolving credit, such as credit cards and store cards, used by consumers as a percentage of their overall credit limit. Currently, households are using just over 50% of their credit limits, up from around 40% in 2007.However, while the numbers have increased over the past eight years, for the first time since the third quarter of 2010, the CCI shows the level of distressed borrowing declining on a year-on-year basis. TransUnion data show that revolving credit utilisation fell by 0.3% year-on-year in the second quarter. The trend towards improvement first observed in the first quarter of 2012 continues.Reduced cash flowConsumers’ cash flow levels are also down, as a result of a number of factors. The household cash flow measure shows growth in household cash flow fell from 2.6% year-on-year in the first quarter to 1.6% year-on-year in the second quarter.Price increases on non-discretionary items such as food, accommodation, petrol and other basic necessities have placed strain on consumers, particularly those from lower income groups. In addition, disposable income growth has slowed.Inflation as a result of the unstable rand, coupled with slow gross domestic product growth, lower salary increases and high unemployment rates are all weighing on consumer cash flow and disposable income. And the Reserve Bank forecasts inflation will keep rising in the second half of the year. As such, household cash flow is likely to come under more pressure as the year continues.Growth in debt service costs remained stable in the second quarter, increasing modestly compared to the same quarter a year ago, TransUnion says. However, while the benchmark repo rate remained at 5.75% during Q2, the Reserve Bank raised this rate by 25 basis points to 6% in July.In addition, more rates hikes are likely on the cards to guard against the inflation risks resulting from a weaker rand. This suggests that debt servicing could become a bigger problem in months and quarters ahead.Implications for consumers and credit providersRand depreciation poses a significant risk, as a stronger US dollar and slow domestic economic growth are placing the currency under renewed pressure. A weaker rand raises inflation and interest rate risks, which in turn affects household budgets and can place strain on credit markets.Ultimately, what the CCI indicates is that the South African economy is struggling to recover from the downturn. In the short to medium term, we can expect pressure on consumers to remain as a result of rising interest rates and constrained cash flow.“For credit providers, the key message of the CCI currently is to continue with cautious and conservative lending measures,” Sorour said. “It is vital to continue to assess risk accurately and predict the lower risk income earners, in order to keep default levels and distressed borrowing as low as possible.“The new affordability assessment requirements mandated by the [National Credit Regulator] will ensure more sharing of information around affordability, which will in turn assist credit providers in making improved decisions around lending,” he concluded.About the CCIReleased quarterly, the TransUnion CCI measures aggregate consumer loan repayment records; tracks the use of revolving consumer credit facilities as an indicator of distressed borrowing; estimates household cash flow as a means of determining financial pressure/relief; and quantifies the relative cost of servicing outstanding debt.These aspects are then combined into a single numeric score of consumer credit health. The index is compiled by the TransUnion Credit Bureau with technical support from market intelligence firm ETM Analytics.SAinfo reporterlast_img read more

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Farmers getting caught up in between rains

first_imgShare Facebook Twitter Google + LinkedIn Pinterest In a small window of opportunity with no rain, many farmers around Ohio are getting in the fields while the getting is good. Bradley Ott, Account Manager with DuPont Pioneer talks about all of the activities going on in the southwest part of the state as farmers try to get as caught up as possible after the onslaught of June rains.last_img

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