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There are many suggestions as to how South Africa’s economy can be fixed, but I particularly enjoyed the latest Allan Gray Quarterly commentary. Allan Gray is one of the leading investment houses in South Africa and they say to a large extent our problems are as a result of the commodity market around the world – and oil would be a commodity as well – having dipped significantly in recent years and of course we make our money selling commodities such as gold, diamonds and platinum. They do say that there is also a poisonous relationship between government and business and until that is improved we are not going to see much growth. They say the simplest way to fix our economy is to learn from history and promote an environment which allows the private sector to thrive and basically the government must have the courage to create a business friendly environment. As they say, “Currently the private sector faces serious challenges. A plethora of new regulations and government programmes, almost all of which increased the cost of doing business, make it difficult to justify new investment … The cost of excessive wage demands is reduced employment.”
Posted by Michael de Broglio on Thursday 08-Jan-15
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Comments
Thabitha said:
on Friday 09-Jan-15 08:37 AM
I agree we can learn from the history if people like Mandela and Slovo manage to convince SA to unite and stand together against Apartheid why not the new SA WHY can't we stand against corruption, it was not easy for them and it is not going to be easy for us but they took that risk because they wanted a better country for everyone not a country like Zimbabwe or the country that is going down.
Alexis said:
on Friday 09-Jan-15 08:13 AM
What is there to say really. Money is being wasted on things that are unnecessary. They need to rethink their position and do what is necessary.
Safia said:
on Thursday 08-Jan-15 02:50 PM
i totally agree, there is a toxic relationship between government and businesses. corruption on every level . it is a slow decline. it will effect us all dramatically within next 20 years, i am thinking of SA will be like a better version of Zimbabwe? when the rand slides down more which is inevitable it will cause bigger inflation etc etc.
Elektra said:
on Thursday 08-Jan-15 10:57 AM
I am so tired of just hearing the wrong in this country, Yes basically EVERYTHING is wrong and its a slow sinking ship. But we all know it and I am tired of negative energy constantly consuming my attention. I choose to surround myself with more positive aspects and not complain about every this that is wrong.
Jade said:
on Thursday 08-Jan-15 09:59 AM
I think it is all good and well to look at those in power and just complain about what is wrong with the way that things are being done. But we always have to remember that businesses cannot be looked at in isolation. There are many issues that the Government has to balance for example, the effects of Apartheid on business, the importance of ensuring everyone's rights are upheld and not just the selfish rights of the fat cats at the top. This does mean that to a certain extent government does have to interfere in businesses more so than in first world countries that do not have our racially segregated history where workers live and work in good conditions and are at a lesser risk of being completely abused.
Sorea said:
on Thursday 08-Jan-15 09:03 AM
Suppose there isn't anything I can add here that I haven't said before regarding SA's labour laws and the government's corruption.
Juliet said:
on Thursday 08-Jan-15 09:01 AM
I really do believe that if government would ease up on the pressure they put businesses under, that these businesses would then have the resources to promote productivity instead of investing all efforts into constantly battling governmentally imposed rules. Instead of being at the CCMA all day defending themselves against an employee who stole from them, they could be at their business creating 2 new jobs for honest, hard-working people
Clare said:
on Thursday 08-Jan-15 08:47 AM
With all new laws that are coming in for the BEEE there wont be much jobs and the unemployment rates will be growing soon. They so focused on the change, they have not reliese the effect they doing to the this country
Lucretia said:
on Thursday 08-Jan-15 08:35 AM
If only government realised, they are not needed in every aspect of life. They should back out of not only private sector but sports and schools and family lives as well. One just has to look at the amount of unemployed domestic workers to realise, the private sector does not need governments input.
Johannesburg based attorney specializing in personal injury matters including Road Accident Fund claims and medical negligence matters. My interests include golf, reading and the internet and the way it is constantly developing. I have a passion for life and a desire for less stress!
