Home Tags President Cyril Ramaphosa
Tag: President Cyril Ramaphosa
In spite of Cyril Ramaphosa’s ‘new dawn’, there are powerful forces in the ruling party that risk losing everything if corruption and state capture finally do come to an end. At the centre of the old guard’s fightback efforts is Ace Magashule, a man viewed by some as South Africa’s most dangerous politician.
The stakes have never been higher, and despite Minister Tito Mboweni’s always-jovial presence in parliament as he tabled Budget 2019, his words prepared us for the bitter medicine that must be swallowed before we can experience economic recovery.
As an election year, a second State of the Nation Address (SONA) will probably be held during June 2019 wherein the newly elected government will present their programme of action for the 2020 financial year. The SONA address that was delivered by President Cyril Ramaphosa on Thursday 7 February 2019, accordingly reflected on the Medium Term Strategic Frameworks designed and implemented in the past five years.
Over the last few weeks, President Cyril Ramaphosa said repeatedly that the private sector is invited to enter into meaningful partnerships with government in establishing an Infrastructure Fund. Ramaphosa said infrastructure expansion and maintenance had the potential to create jobs on a large scale, attract investment and lay the foundation for sustainable economic expansion.
There is a humorous saying: 'The definition of insanity is doing the same thing over and over and expecting different results. 'It’s often attributed to Albert Einstein, but he isn’t the one who said it. It isn’t the definition of insanity either—but it does describe a trait we could call crazy. Our species tends to repeat past mistakes hoping our 'good intentions' will be enough to change the results—this time.
Discovery CEO Adrian Gore mentioned at the recent Leadership Summit that there is an element of 'declinism' - a pessimism about the state of one’s country - in South Africa, and that it did not accurately represent the situation facing our country.
South Africa was once speculated to have a government workforce larger than that of the United States. Think about that for a second or two. A country whose population numbers close to 57 million with more civil servants than a nation of over 300 million individuals.
Reality can be avoided for only so long. The South African economy has slipped into its first technical recession since 2009. Cyril Ramaphosa’s confidence in growth for the economy has proven hollow. Without a change in the size and the amount of control the state has grasped over the lives of South Africans, without a change in policy from socialism to free markets, this recession was inevitable.
12Page 1 of 2