At this point, it’s fair to say that South Africa is a total mess. Anybody who disagrees with this assertion is fooling themselves.
All economic fundamentals are in terrible shape – and will likely deteriorate under the governing African National Congress (ANC).
Economic growth, foreign direct investment, consumer and business confidence, unemployment, are all in a dire state.
The saddest thing is not that these fundamentals are in tatters – it’s that we see a total refusal from the current government to implement the reforms that will reverse the awful situation.
Cyril Ramaphosa was initially seen as a man who would turn this country around for the better – after Jacob Zuma’s disastrous years. I was amongst those people who thought he would. Well, I was on the wrong side of history – and I regret it.
The expectations were that Ramaphosa would work towards restoring economic growth, business confidence and make South Africa an investment and business friendly environment through pro-market policies. He has not done that – and it doesn’t look like he will in future…..
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