JABU MABUZA: It’s no time for bystanders
The window of opportunity to fix SA's economy is closing, so we need to rethink our investment paradigm today
"Beyond this valley will be redemption and total renewal. Those who have been involved in malfeasance, wrongdoing and corruption must stand and be accountable to the nation." These words from President Cyril Ramaphosa, uttered after millions of South Africans went to the polls last week, acutely reflect the challenges and opportunities of this new era we’re entering in SA.
Over the past decade, the economy has been a tableau of ruin. Since 2011, there’s been a marked decline in growth, reaching a low point of a technical recession in 2018. Stats SA reported stubbornly high unemployment and inequality, spurring poverty and social instability. A crisis of confidence, driven by economic mismanagement and widespread re-purposing of public resources, led to investment falling.