Finally, our CEOs have dared to take a stand for good economic sense, and against fiscal insanity and political cronyism. Too often, we spend hours castigating our business leaders for not standing up when it matters. Of course, this hasn’t been without justification: last December, after finance minister Nhlanhla Nene was axed by president Jacob Zuma (shortly after the Guptas were shopping his job around), Business Leadership SA released a statement so tepid you could almost feel the paper it was printed on curdle with humiliation. Replacing Nene, Business Leadership SA said last year, "has raised doubts about our ability to maintain prudent macroeconomic policies". Well, as the market bloodbath illustrated (R169bn shed from the JSE in four days), investors were in absolutely no doubt whatsoever as they shorted the hell out of the rand and flogged assets as if it was an "everything must go sale" at the local Joshua Doore. Mercifully, this pusillanimous approach was jettisoned last ...
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