South Africa’s economy is imploding, with key industries falling one by one like a set of dominoes after 15 years of mismanagement and poor government policy. The job cuts taking place at industrial giants such as ArcelorMittal, Goodyear South Africa, and several mining giants have resulted in the government being deeply concerned about the impact on the economy. However, the government has failed to make meaningful changes to its approach to economic policy in South Africa and create an environment conducive to investment and growth. The country’s economy has grown at an average annual rate of 1.1% for the past fifteen years and is now beginning to feel the consequences, with a looming financial crisis and an unemployment disaster.
Sam Busa