Tag: South Africa

Despite their ostensibly noble intentions, licensing laws protect incumbent firms by preventing new, small businesses from entering the industry and competing. This is in addition to creating new avenues for corruption, and criminalising ordinary economic activities. South Africa’s licensing regime must be significantly scaled back.

Historical land dispossession has handicapped South Africa’s economic development, particularly of small businesses and small-scale agriculture. This, combined with continued restrictions on subdivision, lack of secure title, and threats to constitutional property rights, impede rapid land reform and economic growth.

South Africa’s tax laws were designed for a high-income society – a result of a long history of the country accommodating a small, wealthy economy, and a large, poor one. But for a country with tens of millions being either unemployed or receiving very little income, being one of the world’s highest-taxed states does not make sense, particularly when small business growth is so crucially important to our economic future.

The private sector in South Africa is seen as an evil that must be heavily restricted if not expressly prohibited. For a country wherein government service delivery is poor to say the least, one would expect that private enterprise, which keeps us safe through the various security firms and healthy through the various hospitals, would be celebrated.

Laws governing a country are never static. Legislation is the backbone of a society. It enforces the rights and responsibilities of individuals and authorities. As society changes, so must the law, it needs to constantly improve and be amended in line with what works and what does not.

South Africa is not only the most unequal country in the world, it also does not care well enough for its weak and sick. Its inequitable access to healthcare is iniquitous in many parts of the developing world. But to me, a former South African who left the country during one of South Africa’s darkest periods in history, which was rife with government oppression at the time, it reflects the legacy of apartheid.

Congratulations SA taxpayers - you've paid government - now what you earn is yours!

The 2022 Budget was tabled to Parliament on 23 February 2022 by South African Finance Minister Enoch Godongwana.

South Africa’s headline unemployment rate hit a record high of 34.4% in the second quarter of 2021, up from 32.6% in the first three months of the year as businesses shed staff resulting from the devastating economic impact of the COVID-19 lockdown.

During the years of Cyril Ramaphosa’s presidency South Africans have understandably become a tad cynical when his annual State of the Nation (SONA) takes place. Typically filled with big promises, his presidency is likely to be remembered for under-delivery.