The BLSA CEO takes a look at what the country achieved in its first 30 years and what can be expected in the next 30 years.“It does not matter who is in government – the facts do not change. I am confident that we will get it right in our next 30 years of freedom and will realise our potential as a country,” the Business Leadership South Africa CEO says as she considers what happened in South Africa over the past 30 years.
The business environment has deteriorated sharply with energy availability deteriorating every year until 2023, while the logistics system severely underperformed as extortion and corruption grew at an alarming rate, she says. Business also benefitted from broadly market-friendly policies, the dismantling of apartheid-era monopolies and the opening of global markets.
“With accountability diminished, corruption flourished at every level of government. The few institutions that continued to stand as obstacles, including the Reserve Bank and National Treasury, also came under attack.” “Inevitably, the market response was brutal, with the value of government bonds plummeting, threatening a devastating financial crisis. Van Rooyen lasted barely a week in the position before Zuma relented to pressure from business and political colleagues to replace him with Pravin Gordhan.”
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