LETTER: This is no time for compromise
Should Ramaphosa falter, failure will result in SA becoming another African tragedy
"A Hard Sell" (Cover Story, May 23-29) indicated that many financial specialists are hesitant about the country’s future growth.
And while Colin Coleman’s initiative in hosting an investment conference speaks volumes, it will remain a false dawn unless positive steps are taken by the government, giving recognition to a free-market economy, and giving encouragement with less bureaucratic interference.
The Jacob Zuma years were disastrous: an atmosphere of distrust between government and the private sector widened, with the economy and employment suffering.
President Cyril Ramaphosa is making it easier for both sides to reconcile and establish a common vision for the country’s future, yet much will depend on his cabinet.
Our labour laws need to be revised; in the face of a heavily unionised and hostile workforce, investors remain wary of committing funds for development.
Land ownership needs to be prioritised, proving expropriation without compensation is an unnecessary objective.
Then there remain the problems of collapsing municipalities and dysfunctional state-owned enterprises, which are wasting valuable capital.
Our sovereign debt is at 60%, which raises the possibility of default — which would have collateral consequences, leading to serious unrest with increased unemployment.
Ramaphosa is expected to show leadership, demonstrating that he is in charge, choosing the high road instead of compromise. Should he falter, failure will result in SA becoming another African tragedy.
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