Natasha Marrian Deputy editor: Financial Mail

Political mismanagement by the administration of former president Jacob Zuma, who was fiercely protected and kept in power by the ANC, is to blame for the economic "mess" SA finds itself in today. The ANC’s head of economic transformation Enoch Godongwana admitted that mismanagement over the past five years had damaged the economy, which is in recession for the first time since 2009 when the global financial crisis caused a worldwide slowdown. Now, with the right leadership and economic framework, the economic situation was likely to stabilise, Godongwana told Business Day on the sidelines of a media briefing in which the party detailed its plan to turn the situation around. President Cyril Ramaphosa, who served as deputy president under Zuma, returned Nhlanhla Nene to the helm of the Treasury in a February cabinet reshuffle, but the economy is yet to improve, with unemployment remaining near record levels.

Under Zuma’s administration, SA had four finance ministers, including ...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now