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A serious and complex perspective problem is developing in SA. Having been “gardening” in recent months before joining Intellidex, I was struck by the flip-flop in sentiment and genuine upset from the private sector that they had got the postpresidency transition period so wrong. It has been remarkable how a normally ever-sunny SA commentariat have become so depressed. Expectations for the stimulus package announcement from President Cyril Ramaphosa and the jobs summit were set at rock bottom. This week’s investment summit is similarly turning out to be a battle of expectations management between the presidency and commentators. All the recent summits and announcements have promoted necessary change. They all provide some help to get back to 2% growth by 2020. When I deliver this forecast to people their general reaction is “what happened to the bear we knew”. This is the problem having the expectations bar so low — it has been a distraction. Two percent growth seems amazing but it ...

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