Kuseni Dlamini Smart choices can ensure SA’s success
As SA edges closer to its most contested elections since the dawn of democracy, it finds itself confronted by pedestrian economic growth, high and stubborn poverty, unemployment and inequality.
The good thing is that these challenges are not insurmountable. There are opportunities for quick wins to turn around investor sentiment and consumer confidence, which are key to inclusive and sustainable job-rich growth.
I recently participated in the Africa CEO Forum in Kigali, Rwanda, where the need for an investor-friendly landscape across Africa was centre stage, as was the role of a strong and entrenched private sector.
Rwanda is an epitome of excellence in attracting and retaining investments by doing, not just saying, the right things. To grow the economy and improve investor sentiment we have to do the right things all the time, or at least most of the time.
President Paul Kagame’s administration is modelled on the lines of Singapore’s founding father, Lee Kuan Yew. It is about efficiency, delivery, accountability, meritocracy and zero tolerance for corruption.
Singapore transitioned from being a third-world economy to a first-world one in a few decades through decisive leadership, effective management and sustained investment in the capabilities of its people — its only resource. Rwanda is doing that. SA must too.
Bold and decisive leadership and action that delivers results are needed more than ever before. Talking the talk but not walking the walk must end. Business confidence will be improved through confidence-building measures, no matter how big or small.
There is a very compelling case for our leaders in government and business to position SA as a magnet for vigorous and sustained foreign direct investment.
Low levels of investor, business and consumer confidence are the outcome of bad policies and practices. Leaders must be held accountable. SA is a beacon of promise, potential and prosperity in Africa and must lead the way in creating a world-class, inclusive economy and society.
SA’s levels of poverty, inequality and unemployment are an indictment of the country’s ability to make good use of its human and natural resources.
We need to grow the economy at 5% and above to reduce unemployment, poverty and inequality and improve the country’s rating to investment grade.
We need a compelling, high-growth and investment-grade improvement strategy that is proactive to move us beyond the defensive and reactive focus on avoiding the next downgrade by rating agencies.
Why are we not growing our economy at 5% or more as we ought to be? It’s a lack of leadership will and commitment to make the right, sometimes unpopular, decisions in the short term, but which may be popular in the medium to long term. We need a paradigm that is informed by doing what is right, even if it’s unpopular, for long-term growth and prosperity.
China’s prosperity, which we marvel at, is a product of long-term planning and decisive, results-driven action. We need leaders with courage, conviction and a unifying vision of a better future.
We need young people to challenge and transform obsolete leadership practices in the public and private sectors. It is through that, among other things, that SA can clear its path to greatness.
We must be glass-half-full optimists on SA. To fix broken systems, you must believe they can be fixed.
The current business and sociopolitical mood in SA requires resolve and creative approaches to address challenges. This is not the time for finger-pointing, which is, unfortunately, prevalent in our national discourse.
If you recall the cheerful sounds of vuvuzelas during the 2010 World Cup, that is what our democracy sounds like, now more than ever in the run-up to elections on May 8.
SA is Africa’s great hope, champion and flagship in the global economy. It has the responsibility to lead by the example of having a world-class economy and a society underpinned by competent, capable and inspiring leadership.
We have one of the world’s strongest and most progressive constitutions and a free, fearless, and critical press. Our judiciary is highly respected for its fierce independence and vigilant protection and advancement of the rule of law.
We are the most industrialised nation on the continent. We have an economy that is diverse, growing, and globally competitive. We have a democratic system that is vigorous, stable and inclusive. All these gains have been accomplished within a very short space of time.
The country has a lot to lose if our leaders take their eyes off the ball of ensuring a growing and inclusive globally competitive economy and society.
SA is poised for growth, greatness and development provided we are prepared to make the choices that inspire foreign and local investor confidence on a sustained basis.
We need leaders with courage, conviction and a vision of the future