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SA’s on a slippery slope: Mcebisi Jonas

‘Our political and economic problems are chronic….as we under-deliver, we generate more social and political discontent’.
South Africa is in a precarious state and urgent action is needed to stabilise its finances, according to former Deputy Finance Minister Mcebisi Jonas.

“Our political and economic problems are chronic,” Jonas told the Cape Town Press Club on Monday. “Our problem is that as we decline, we under-deliver. As we under-deliver, we generate more social and political discontent.”

South Africa is struggling to recover from the nine years of policy missteps and rampant corruption that characterised former President Jacob Zuma’s rule. While Cyril Ramaphosa, who succeeded Zuma in February last year, has sought to tackle graft and revive the economy, the country is contending with a 29% unemployment rate, a debt-stricken state power utility that’s draining state coffers and mounting public discontent over a lack of jobs and basic services.

Jonas, who served as Zuma’s deputy finance minister from 2014 to 2016 before being fired, alleged three years ago that members of the Gupta family offered him a bribe and the finance minister’s post in exchange for furthering their business interests – a proposal he rejected. The Guptas were friends with Zuma and have been linked to numerous cases of corruption at state companies. They and Zuma deny wrongdoing.

Jonas 59, who will join telecommunications company MTN Group Ltd. as chairman in December, said he still has hope that the country can get back on track.

“My theory is that we are not going to get a major blowout, like you have in Venezuela,” he said. “We need to bring back growth and refocus ourselves as a country. We need to go back and find each other as a nation.”

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Where were all of them during the Zuma years? It’s the same people man and everybody knows that.

Political discontent is not just a result of under delivery but the continues theft from the people by the political elite with no consequence.

When the tide turns against them Venezuela will be an attractive destination to run too.

As long as you feel your gatsack getting fatter by the day you just look the other way.

Even Mbeki cannot understand why things are as they are, and as for CR sitting next to Zuma!!! voting yes every time, voting to keep him there every time a no confidence debate ended…..they make you sick.

Now its a matter of come help fix what we told you , you would break.

The Communist Party and the Unions have to be thrown out of power.

Until the unions and labour laws change, there will only be growing unemployment.

Which foreign investor wants to invest in this country when you cannot fire anyone? It is madness to think otherwise.

The government’s role is not to be a major employer, but rather to create laws that allow business to flourish and grow, thus creating employment.

The Rand will only weaken….any country which does not have growing exports will eventually see it’s currency collapse; Zimbabwe is the example here.

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