If President Jacob Zuma’s firing of former finance minister Nhlanhla Nene flushed the extent of corruption and state capture out into the open and deflated investors’ confidence, then his manipulation of a resurgent black African nationalism to justify his purge of Pravin Gordhan and Mcebisi Jonas punctured it decisively. The ANC’s behaviour in shielding Zuma from scandal after scandal has fuelled the fear that it might be just a matter of time before SA fails. Adrian Gore, CEO of the Discovery Group who has travelled on several international roadshows with Gordhan, finds himself frequently called on to defend the country against such a view. "There are very few countries which have always had this question mark [hanging over it] — when is Armageddon coming? When is the country going to fail? For some reason, South Africans believe our problems are intractable," said Gore. "In the nineties it was crime, then we had the labour issues, then the Eskom issues and at the time, these were...

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