DUMA GQUBULE: Much more needed than Ramaphosa’s reform gimmicks
Raising the power licensing threshold will add only 0.5% to GDP
In the face of soaring unemployment, which has created an unviable society, and brutal energy blackouts in the middle of winter, President Cyril Ramaphosa has announced two structural reform gimmicks that will do little to resolve the country’s immediate economic and power crises.
According to Stats SA’s latest survey, the expanded unemployment rate for black Africans was 47.9% during the first quarter of 2021. For black African females it was 51.5%. In the Eastern Cape and Limpopo, the unemployment rates for people of all races were 49.6% and 49.5% respectively. The expanded youth unemployment rate was a staggering 74.7%...
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