It is almost a year since the SA economy avoided the total collapse that has defined post-colonial economic development after independence in most other countries. Following independence, the economy goes through a honeymoon of integration of the indigenous business class, economic boom and a growing middle class, followed by an economic bust that is sustained for a long period until the World Bank and IMF intervene through a structural adjustment programme. On the eve of the governing ANC’s 54th elective conference in 2017.then president Jacob Zuma announced a fee-free tertiary education programme for parents with a combined annual income of R300,000 or less, without any concern about the affordability of such a programme and the junk status two credit rating agencies had already imposed on SA. The future of the country was to be determined by about 4,700 ANC delegates. This ultimately resulted in a narrow victory by Cyril Ramaphosa, sparking “Ramaphoria”. SA returned to positive e...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now