LAND EXPROPRIATION
CAROL PATON: The inexorable pull of populism takes SA down a cul de sac
Despondency is growing among businessmen, investors and members of the professional class in SA. In the past three months the future has become less certain. The economic turnaround, if it can be pulled off at all, will be more difficult than imagined. At the same time, the ANC and President Cyril Ramaphosa are being driven ever further down a developmental cul de sac, as they fear losing power and are making it up as they go along, pushed in the direction of short-sighted populism because of earlier failures. Ramaphosa’s announcement on land expropriation without compensation last Tuesday was an important example. In and of itself it will have profound implications for whether SA is considered a good place to invest. But just as importantly there is reason to believe it will not be the ANC’s last capitulation to populism. It is also a critical indicator of another disturbing trend: the declining influence of business and the investor community in shaping government policy. How we g...
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.