Sydney Majoko
3 minute read
5 Nov 2019
6:25 am

Time’s up, the ship is sinking

Sydney Majoko

The business of endless bailouts to badly run SOEs has to stop. Ramaphosa knows what needs to be done. Will he do it?

Downward growth trajectory.

It is said that when King Boabdil received the news of the fall of his city of Alama in 15th century Iberia (now Spain), he killed the messenger. The country’s reaction to Finance Minister Tito Mboweni’s medium-term budget policy speech was akin to Boabdil’s: some unions which are less ideologically inclined to the minister’s thinking would rather kill the messenger proverbially through making sure his ideas do not come to fruition. What Mboweni did was what we’ve always been afraid to do: look in the mirror and see ourselves for what we are, warts and all. It is no secret...