DUMA GQUBULE: Fixing the economy needs guts, not gimmicks
President Cyril Ramaphosa must deliver solid plans in his state of the nation address
On Thursday, President Cyril Ramaphosa will deliver his second state of the nation address to parliament. However, there is still no plan to get the country out of its worst post-apartheid economic crisis a year after he became SA president. In his campaign to become ANC president, Ramaphosa called for a “new deal” for SA. There was a wave of optimism before and after his election as party president in December 2017. The rand appreciated 20% against the dollar to a high of R11.50c on February 26 2018. However, the “Ramaphoria” in financial markets had dissipated by the end of the first week of May as the rand had depreciated to about R12.60 against the dollar. In his 2018 state of the nation address, Ramaphosa promised to host two summits — on investment and jobs — that would develop a “a new partnership to build the nation”. In February of that year, then finance minister Malusi Gigaba delivered a budget that in effect cancelled out the impact of an inspiring state of the nation ad...
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.