A bad week for Tito Mboweni
The finance minister ought to be more focused on trying to fix the country’s economic and unemployment crisis
E-commerce giant Alibaba’s 10th annual Singles Day set a new record for the platform, clocking up $30.8bn in sales on November 11, which was 27% up on last year — a nice boost for founder Jack Ma’s successor Daniel Zhang, who cooked up the idea of celebrating the virtues of being single with the one-day spectacular. By comparison, last year’s Black Friday weekend brought in an estimated $14.05bn and Amazon’s Prime Day sale in July generated an estimated $4bn for the more traditional online retailer.
He may think it clever to threaten the media via Twitter with war, boast of his martial forebears, announce a question-and-answer session on the state of the economy then call it off at short notice — but people are starting to wonder whether Tito Mboweni doesn’t have more serious business to be getting on with. Instead of jousting with journos and emulating tweeter-in-chief Donald Trump, the finance minister ought to be more focused on trying to fix the country’s economic and unemployment crisis.