South Africa is under considerable economic strain, brought on by the failure of key state-owned enterprises . SAA, facing financial ruin, has now been placed in business rescue – the last hope of saving the company from creditors. Prasa, also collapsing under the weight of debt and corruption, is now under administration.
It is only because of the action that has been taken over the last two years to clean up their boards and subject them to more rigorous discipline, that we have finally seen the true state of their decline. It is time to cease being held hostage by those who want to profit from our troubled past. Instead, we must build our national identity and play to our strengths. This requires an inclusive narrative, to focus what unites and not that which divides us. To deal with the past, this narrative should be forward-looking, engaging with the possibilities of global growth, not fearing its effects, and focused on equipping a society with the skills fit for purpose.
We delivered a political transformation when many expected chaos and collapse. We have excelled on the sporting field, punching above our weight. We produce leaders in global fields with regularity.We have a national skill for solving big problems, for staging big events and we never shy away from saying things as they are.
We must also embrace our diversity of expertise and accept that we all have different roles to play in the building of our nation. No one can do this alone. Most importantly, government must adopt a laser-like focus on growth and jobs. We must test every action, every proposed piece of legislation, every regulation against the simple question: Will this grow the economy and create jobs?
Big business must recognise the role it must play in supporting economic diversification, in promoting innovation in partnership with government, and in enabling new entrant firms to access global markets and value chains.
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