JABULANI SIKHAKHANE: The importance of law in economic development
Legislators need to ensure that hurdles in the way of economic activity and innovation are not arbitrary or unnecessary
In his love letter to the nation this week, President Cyril Ramaphosa wrote about the recent progress his administration has made in loosening blockages to higher economic growth, a process referred to as structural reform.
Some of these key reforms have had gestation periods ranging from 10 years (the auction of the spectrum) to more than 15 years (the establishment of the National Ports Authority as a standalone subsidiary of Transnet). So the implementation of these reforms marks important milestones in the country’s structural reform journey...