Neither communism nor multiculturalism has ever worked, yet South Africa is implementing both at the same time to disastrous effect! Now Ramaphosa has vowed to rebuild crashing confidence in South Africa’s economy, and desperate South Africans, who want concrete things that can make a difference in the economy, have no choice but to hope he does. He promised real actions that “move the needle,” however in Africa accountability is not required.
This year, the economy will record growth lower than expected, Ramaphosa said. The GDP growth forecast for 2019 has been revised by the National Treasury to 1.5 percent, from an estimated 1.7 percent in 2018.
“Much of the confidence that the country had 20 months ago has dissipated as the reality of the problems we face became clearer,” Ramaphosa said in his first weekly message (after 20 months?), basically admitting the “Ramaphoria” that appeared after Zuma was replaced and he was elected has well and truly dissipated.
According to Ramaphosa, the government should move in a determined way to effect change while remaining committed to rooting out corruption and malfeasance, a primary reason for the problems facing SA.
As part of efforts to rebuild confidence, funds have been redirected to stimulate economic activity, he said, adding that the government is also increasing the value of goods and services it procures from small business and cooperatives. These being only black businesses as the government is not allowed to transact with white businesses.
Ramaphosa also said that firm action needs to be taken to grow the economy and create jobs. “I am certain that with the active involvement of all sectors of society, this will be achieved.” However, once again government is only allowed to employ black people…
Africa’s most industrialized economy, which has sunk from largest to third largest post apartheid, is currently stuck in its longest downward cycle since 1945. Weak economic growth, a sharp drop in export volumes and a weaker currency, rising debt, and an unemployment rate of 29 percent and murder rate of 56 per day, continues to hurt the nation.