How To Get SA Back On Track

Things do look grim – but with a radical rethink, solutions for South Africa’s economic woes can be found, writes financial journalist Peter Bruce

WILL he stay or will he go? This is the question many South Africans are asking as President Jacob Zuma fights to stay in office. But as he ducks and dives in a desperate bid to see out the rest of his term, which ends in 2019, many sections of our society are coming together to talk – not so much about how to stop him, but what to do once he goes. Is it possible to repair what he’s broken?

Whoever steps in to fill his shoes will inherit a big mess, yet it’s not hopeless. There’s still a chance to turn things around. “The passing of the Zuma era is a wonderful opportunity for renewal,” says Peter Bruce, editor-in-chief of the Financial Mail. “It’s a time to get it right.”

In this thought-provoking manifesto the respected political and economic commentator maps out the radical action that needs to be taken to put South Africa back on track.

REALITY CHECK

First, it’s time to face facts. No stable society can live with our levels of poverty, so urgent economic reform is needed. Change must come.

Right now the biggest thing holding us back is our inability to understand why we can’t grow; to assume that if you say you want “radical economic transformation” it will somehow happen and will magically produce the growth you seek. Basically, if we’re serious about turning this ship around, with every reform we consider there are only two questions that need to be asked: Does it encourage inclusion? And will it help economic growth?

If it doesn’t tick both these boxes, then it’s not worth doing. The point is to leave no one behind. We’ll be an inclusive economy only when every South African has a stake in the country’s success.

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