ECONOMIC INSTITUTIONS
XOLISA PHILLIP: Mcebisi Jonas fears that the centre will not hold
Could Malusi Gigaba’s presence at the finance ministry bring the kiss of death to South Africa’s economy?
It is Tuesday May 16, a characteristically chilly winter’s evening spent at the University of Johannesburg’s Bunting Road Campus. There is a buzz in the air as the 2017 edition of the Mapungubwe Institute’s annual lecture is being delivered by none other than Mcebisi Jonas, two months after he and Pravin Gordhan were ousted from the finance ministry by President Jacob Zuma. The theme of Jonas’s lecture is Radical Economic Transformation: Are Fiscal and Monetary Authorities a Help or a Hindrance? Zuma had set the stage for discussions on radical economic transformation in his state of the nation address. And Gordhan touched on that leitmotif in the February budget, while the Black Business Council (BBC) made it its theme for the year. Business seemed sold on radical economic transformation too, releasing a series of statements in which it agreed on the need to shift up a gear on transformation.Even Deputy President Cyril Ramaphosa jumped on the radical economic transformation bandwag...
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