If getting the South African economy growing was a national crisis before the outbreak of the Covid-19 pandemic in March, it has now become the greatest emergency that faces this economy in almost 100 years.
What a first half of the year we’ve had. We started 2020 focused on the Treasury’s ability to rein in a widening budget deficit while facing consecutive weeks of load-shedding from Eskom, which burst any hopes of a strong economic recovery.
Last week saw mounting excitement ahead of the ban on alcohol sales being lifted on Monday, the start of Level 3 of the risk-adjusted lockdown. The beginning of the week saw long queues outside bottle stores and other outlets that had been prevented from doing business since the end of March.
Leaders in society, established business, the government and labour have often been accused of not playing their part in working together to find solutions for a country that has been stumbling over its own feet for the past decade.
More than 10 years ago the politics of the governing ANC changed dramatically when, frightened by the financial crisis unfolding across the Atlantic Ocean, it called for an increased role for government in the state.
Through the various stages of the lockdown we’ve been through over the past two months, the period that starts on June 1 is the most the crucial as we begin to strike a balance between the health of South Africans and the economy.
A few weeks ago, I equated the closing of the economy at the end of March to placing it in an induced coma for the safety of South Africans.
OVER THE PAST few decades, we’ve seen technology playing an increasing role in the economy, which has raised questions about how its increased efficiencies would change the nature of the future of business.
With the country sliding deeper into recession every week as many industries remain closed or operate at half capacity, the urgency grows to reduce restrictions on the economy. The state needs to ensure the health of both its people and the economy.
Of all the flaws that Covid-19 promised to expose in the South African economy, the poor health of our state-owned enterprises was perhaps top of the pile.
For far too many years, management of the SA economy has been bedevilled by ideological debates that belong in the past century. It’s been a dogmatic approach, where the leaders in the governing ANC have lived in a world they want and not one shaped by the reality that capital has many homes. When the…
THE LOCKDOWN sometimes seems to blur the days into one as we are bombarded with dire news about the economy or the struggles of some of our oldest companies.