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...

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