LUMKILE MONDI: Government backs neither SOE executives nor those at the bottom of the pyramid
On the eve of SA’s democracy, the party chose to reinforce the economics of isolation and identity and rejected the reconstruction and development programme
President Cyril Ramaphosa is undoubtedly “shocked” by the real GDP contraction of 3.2% in the first quarter. Having campaigned on a ticket of “Let’s grow SA together”, this contraction provides a platform to introduce the kind of broad economic reforms that were last seen in 1996, when the ANC had a Damascene convergence towards an open, competitive and export-led economy in its growth, employment and redistribution (Gear) strategy.
PODCAST | Business Day Spotlight - Policy uncertainty, and a plummeting GDP cause economic upset