EDITORIAL: The smart road to lasting recovery
Naspers’s announcement that it will invest a monumental R1.4bn in technology start-ups is the sort of foresight the country needs
If you’re going by the numbers alone, you’d have to say that President Cyril Ramaphosa’s investment summit last week was a huge success. About R290bn has been pledged towards SA’s economy over the next decade. "The investment strike by business is over," the former trade unionist exclaimed. This investment, he said, is "the type of flood to lift many boats". And he flagged "the employment of our people" as the most important boat of all.As you might expect, he dubbed the conference "a bold and unequivocal statement that we are determined to put behind us the period of uncertainty and discord and embrace a future of co-operation and partnership".He added that the goal was to build a country "driven by enterprise and innovation" to create a diverse economy with companies that can achieve sustainable returns for everyone. Nor did he skirt the elephant in the room: SA’s horrendous 27.5% unemployment rate, which leaves millions frozen out of the economic system.It may be true that Ramaph...
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