“Keep your calm and carry on” says Justice Malala
Malala, political commentator for the past 25 years, visited the city as a guest of PSG Consult last week and prophesied the change will be significant post-Zuma, but asked if it would be significant enough.
POLOKWANE – ‘It’s over for Jacob Zuma now’. This was Justice Malala, renowned political commentator, writer and TV presenter’s opinion two days before the president resigned.
He said money must be put in the system and the police, National Prosecuting Agency, the judiciary and SARS, must be unbiased and be seen to be doing their job, and be above politics.
He mentioned the example of Tom Monyane, heading SARS, who he said, when it was divulged that Zuma received R1 million a month for four months from a businessman and did not pay tax, did not move to prosecute Zuma, but instead contacted his lawyers and went for Jacques Pauw, who divulged this in his book, The Presidents’ Keepers.
Malala said there are many institutions that need fixing, as the key lies in restoring trust and reducing institutional uncertainty. “Keep your calm and carry on,” Malala said.
He predicted that come 21 February, during the budget vote, that the president would not be in office.
Malala said the SA Council of Churches’ report about the political situation in the country last year was the last straw.
“There was a silent coup in the country, with Duduzane (Zuma) and the Guptas at the forefront.”
Malala said there were many lies told.
“Jonas was offered R600 million to be Minister of Finance, Des van Rooyen lied to Madonsela in the state capture report – he said he did not know the Guptas, but it was found that he visited the Guptas seven times in as many days.”
Malala said the ANC was hugely divided, as was the top six.
“Ace (Magashula) urged people recently to stop buying McDonald’s, knowing Ramaphosa is a majority shareholder of the company in South Africa, while Jessie Duarte’s son-in-law works for the Guptas.”
“There have been 17 probes instituted into the R50 billion theft of state resources, and Eskom’s board was replaced. I think Cyril can do it. He can turn around things.
“Our Constitution is among the best in the world. In the past we have been dealing with those without principles and values. Leaders must have principles and values.” Malala said one of the key issues Ramaphosa will have to deal with is the expropriation of land, as well as free higher education, racial reconciliation, corruption and the economy. He said the National Development Plan must be implemented to restore growth and the economy.
Two of PSG Consult’s top managers informed guests about investments and expected future trends. The outlook of global growth is good, he said.
Lower returns are expected from global assets, but investors were advised to keep on investing selectively. Local growth is depressed and changes will need time to really take effect. There are still good opportunities in the local market. Certain segments of the markets were neglected due to the political situation, but there are companies of above average quality and below average prices. Guests were urged to have a diversified, considered approach and invest in a built-in all-weather investment portfolio.
