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South Africa saw its most destructive riots in years this past July, ostensibly in response to former President Jacob Zuma's imprisonment and due to socio-economic factors. The Constitutional Court's sentencing of Zuma was widely hailed as a victory for the Rule of Law, but the commentariat in many cases remains blissfully unaware of its diagnostic blindspots.
After the shocking riots that engulfed South Africa last month, all of us in this beautiful country have cause for deep reflection, regardless of our race, religion, age or political views. Was this a singular event, why did it happen? Few would deny that the inequality in our society, poverty and unemployment of so many are among the root causes.
Written by the author of Incorruptible, The Unlikely Mr Rogue: A life with Ivan Pillay is the story of the quiet man behind the so-called ‘rogue unit’ at SARS who has become a lightning rod for so many in politics. It takes the reader on a journey from Ivan’s growing up in Merebank, KwaZulu-Natal, to his politicisation, his friendship with Pravin Gordhan and the story of Operation Vula, which Ivan ran from Lusaka, reporting to Oliver Tambo.
Statistics South Africa (Stats SA) reported on October 29 that South Africa’s unemployment rate increased from 29.0% in 2019 Q2 to 29.1% in the third quarter. This was the highest jobless reading since 2003, and South Africa now has the joint fourth-highest unemployment rate out of 182 countries tracked by Trading Economics.
Property, and the ownership of land, is an emotive topic in South Africa. While progress towards redressing inequality in land ownership and the property sector could be far quicker, the good news is that we know where we stand, and property offers unique prospects for achieving real social change.
Government needs to take bold and rapid action to extricate the country from the economic quagmire in which it finds itself. The local economy is struggling to generate the growth needed to address high unemployment and inequality, as well as arrest the declining productivity that has eroded the country's global competitiveness.
According to Oxfam, a new billionaire was created every two days in 2018. What an incredible, remarkable phenomenon. Never have people created so much wealth for themselves through businesses and trading.
John Kinsley has written a book that presents two macro-economic challenges facing the world today. There are two broad economic challenges facing economies around the world today: the one is ageing demographics (particularly in established economies) and the other is inequality.
A major takeout from the month-long bus strike earlier this year is that workers were prepared to strike for a protracted period until their main demands were met, including that they be paid for the month that they did not work as a result of the protest action.