FUTURE SCENARIOS
HILARY JOFFE: Politics the cause of — and solution to — SA’s new economic meltdown
Whenever someone asks Reserve Bank governor Lesetja Kganyago for his view on SA’s politics, he parries the question with his usual sharp humour, replying that while the Bank employs many economists and monetary policy experts, it does not employ political analysts. It’s hard to imagine, though, that the Bank’s economists aren’t watching political developments closely, as are economists and financial analysts across the private and public sectors — because the outlook for SA’s economy now hinges, crucially, on its politics.It is in this second quarter that the battles in and beyond the ANC over Zuma’s presidency have heated up, the "radical economic transformation" narrative has taken centre stage and leaked Gupta e-mails have generated a stream of disclosures of state capture. And it’s been in these final weeks of the second quarter that Mineral Resources Minister Mosebenzi Zwane has shocked the markets with his Mining Charter and Public Protector Busisiwe Mkhwebane has shocked them...
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