Financial Mail

Much hard work still needed for SA

- Ted O’connor Albertskro­on

“Why Ramaphosa’s plan falls short” (Editorials, September 27-October 3) points out the many hurdles yet to be cleared in SA.

President Cyril Ramaphosa has the herculean task of restoring the state’s health, but our coffers are bare. The stimulus package he announced falls far short of restoring growth; he needs to take a scalpel to the problem — fire nonperform­ing ministers, engender goodwill from business, rein in the unions, downsize the public service, auction the assets of state-owned enterprise­s, drop the national health insurance project and clearly articulate how the land [expropriat­ion] will be fairly dealt with (much hinges on this).

Though former president Thabo Mbeki had a vision of broad, sunlit uplands, his successor, Jacob Zuma — with his communist and trade union allies — consigned this to the waste bin. As president, Zuma abrogated his authority, allowing his corrupt cronies and the Gupta family access to the country’s treasures. They unashamedl­y denied the poor their share of the nation’s wealth.

Begging for loans now is no solution — it would only add to our unmanageab­le debt burden.

We need to attract foreign investment with a welcoming environmen­t, and create more industries and labour opportunit­ies. Even then, the hard yards will still have to be covered.

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