BUSI MAVUSO: We are in a crisis that needs innovation, not a rehash of old ideas
That the government is still toying around with bailing out companies such as SAA is a worrying trait that might keep us mired in the past
We are in a transformational economic crisis, as this is not merely one of a collapsing asset bubble in one of the world’s leading financial capitals but one that has an impact on all of us. The crisis runs much deeper than that as it will fundamentally change everything about our everyday life. As such, how we deal with it will need much more than just bailing out troubled industries or waiting out the storm; we are going to have to reimagine the SA economy and not rehash old thinking.
We entered the “great lockdown” on the back foot; our problems ran deep. We were weighed down by a state-owned electricity company in Eskom that simply couldn’t provide energy for an economy growing at under 1% and had reinstated bouts of load-shedding since the middle of December.