SONA Review
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South Africans, the few who chose to watch the virtual State of the Nation address, and many who preferred to skip it and get the highlights of promises made and broken, were searching for signs of light to gauge how far down the tunnel we actually are.
Make no mistake, President Cyril Rampahosa has been dealt the worst hand ever by a South African president, coming in on the back of ten years of naked looting and corruption, which was preceded by ten years of slightly less obvious feeding at the trough of taxpayer funds.
He had his hands full recapacitating the state to take the much needed, and promised, economic reforms forward from plans on a piece of paper to actual implantable actionable outcomes, measured and, monitored and evaluated.
And then, as it appeared the reform agenda was getting into stride, Covid struck.
The speech was focussed on four pillars: defeat Covid; accelerate the economic recovery; accelerate economic reform to drive inclusive growth; and fight corruption. A determined focus on those priorities will help to address an array of the country's problems. But many slip twixt cup and lip as they say.
Michael Avery spoke to Warwick Lucas Chief Investment Officer at Galileo Asset Managers, & Raymond Parsons, professor in the School of Business and Governance at North West University, to find out how close we are to that light at the end of the tunnel after the President’s SONA.
Make no mistake, President Cyril Rampahosa has been dealt the worst hand ever by a South African president, coming in on the back of ten years of naked looting and corruption, which was preceded by ten years of slightly less obvious feeding at the trough of taxpayer funds.
He had his hands full recapacitating the state to take the much needed, and promised, economic reforms forward from plans on a piece of paper to actual implantable actionable outcomes, measured and, monitored and evaluated.
And then, as it appeared the reform agenda was getting into stride, Covid struck.
The speech was focussed on four pillars: defeat Covid; accelerate the economic recovery; accelerate economic reform to drive inclusive growth; and fight corruption. A determined focus on those priorities will help to address an array of the country's problems. But many slip twixt cup and lip as they say.
Michael Avery spoke to Warwick Lucas Chief Investment Officer at Galileo Asset Managers, & Raymond Parsons, professor in the School of Business and Governance at North West University, to find out how close we are to that light at the end of the tunnel after the President’s SONA.