LUMKILE MONDI: Ramaphosa and his team steering SA in the right direction
Ramaphoria might have died down, but work done so far in stabilising SOEs and getting economic growth back on track are promising signs
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...
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.