DUMA GQUBULE: Clearly, the ANC does not have an economic plan
The economic transformation committee tells the executive nothing about SA’s worst economic crisis since 1994
After listening to President Cyril Ramaphosa’s conversation with journalists about the ANC’s national executive (NEC) meeting at the weekend and a briefing from its economic transformation committee (ETC) it became clear that the party still does not have a plan for the country’s worst economic crisis since 1994 less than a year before the national elections. The committee had nothing to say about it.
Ramaphosa referred to structural reforms, which will add little to investment over the next three years. The planned investment by independent power producers (IPPs) is R14.7bn. Since 2022 the national energy regulator has registered embedded generation facilities with a capacity of 4,600MW. That is equivalent to investment of about R90bn. Investment of only R35bn a year in a R7-trillion economy is spare change. But since half of this “investment” will create jobs in other countries, mostly China, the effect on the domestic economy will be limited...
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