There is no question that the actions of Cyril Ramaphosa and his affiliates over the past two weeks have provided much-needed inspiration to flagging business confidence in SA. The rand is at a two-year high, Eskom has a brand new board, the National Prosecuting Authority has been spurred into action and the national executive committee of the ANC has apparently devised an exit strategy for Jacob Zuma. Every bit of this is great for existing investment in SA, but it is only a temporary relief. Without unity in the ANC — and with that the development of a long-term succession plan for when Ramaphosa steps down — the capital investment our economy so desperately needs will be beyond our reach. Take for example the South African motor industry. Motor manufacturers are a useful bellwether of the long-run state of the economy because of the size of their investments. Setting up a local assembly or production plant requires massive capital investment. Decisions to invest or divest are mad...

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