There is a fairly simple recipe for countries to progress to economic success. Why is it so difficult for South Africa to grasp this point? Instead, our country seems hell-bent on trying to prove that while economic success has eluded so many places, like Venezuela, Zimbabwe, Cuba and many others in Africa and South America, applying the same failed policies here will turn this country into an economic success.
President Ramaphosa is a very wealthy man indeed. Without having to create a business or to provide new work and opportunities for workers, or expand our economy, he was given shares in many companies, becoming exceedingly rich in the process. He is, of course, clever, a gifted speaker and a thoroughly engaging man.
A good politician. No one seems to know what his core principles are, however. Is he still a socialist, as his background would suggest? Or has he become a capitalist? Or at least a follower of the free market? Or does he still believe in the rubbish about the National Democratic Revolution, so beloved of the left wing in the ANC? The answer seems to be that it depends on the views of his audience.
The president knows what works economically and what does not. And yet…and yet… when it suits him he promotes changing the constitution to provide for expropriation without compensation (EWC), pretending that this will solve the land question for the millions of landless people in this country. Also, well knowing that the white voters now make up 7.5% of the electorate and the Afrikaners around 4% of that, he told black voters in the last election that if they did not go and vote “The Boere would be back in power.”
There are many places the president could look for inspiration about growing the South African economy. Let’s take just one of them: Mauritius; a member of the African Union. I know it quite well, having first visited there in 1973 when it seemed poor, very backward and with few prospects of success, and several times since then, with my last visit in February this year. What a metamorphosis in 45 years!
Andrew Amoils, head of research at New World Wealth issued a report for AfrAsia Bank and NWWealth on 3 August this year, stating that Mauritius is the fastest growing wealth market in Africa and one of the top three fastest growing worldwide over the past ten years.