THICK END OF THE WEDGE
PETER BRUCE: Cyril Ramaphosa's regard for due process is excruciating to watch
The president's indecision makes him look weak, and stalls the resolution of SA's many urgent problems
You have to feel for President Cyril Ramaphosa. At least, I do. Not only is he confronted with a retreat by international investors from emerging markets, a world turned upside down by President Donald Trump and steadily rising crude oil prices, political events at home are all but demolishing the hopes that greeted his victory at the ANC leadership conference and his subsequent election as head of state. For now, he seems trapped at every turn. After starting well with new boards at Eskom, South African Airways and Denel, even those victories now seem diminished. Eskom, drowning in debt, is about to agree to pay its bloated staff a pay rise of more than 7% after load-shedding triggered by a strike against an initial offer of 0%. Moody’s, the only major debt ratings agency not to have downgraded our sovereign debt to junk status, has just pointedly warned the government that it regards Eskom as a final test of the ANC leadership’s resolve to get the national debt under control. SAA,...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.