Home / News / News24.com | Lessons from the ANC: How to mess up a good thing

So . . . what was the point of the land hearings that are, in fact, still happening around the country? I thought that the point was to get all the opinions and then have a parliamentary debate on the subject, and then decide an appropriate action and whether we need a constitutional amendment of not. 

Yet, before the hearings are even over, our “compromised” president says that the ANC are going ahead with the amendment. I say compromised because I‘m sure it wasn‘t his decision, but rather imposed by the old “crony” brigade that he is forced to keep in office, by the compromise called “unity”.

The rand tanked against the dollar from 13.10 last night to 13.40 this morning . . . it honestly feels like a JZ moment – and the stupid decisions made by his government to keep in power and of course, on the gravy train.

In the last week or so, the rand has made gains against the dollar after Trump‘s trade war saw it take a knock. Share prices started to rise – these are things that point to an improvement in the economy potentially coming. And we all know how desperately we need that.

But then, President Ramaphosa bows to the cronies and does something stupid. Mr President – at some point soon – you are going to have too grow a pair and take charge of these cronies – before they destroy the goodwill you have created in, and more importantly, outside SA.

Unnecessary expropriation agendas may win an election, but is not going to do SA or the economy any good. Capital flight (IE wealthy South Africans moving their money offshore – and themselves) is on the increase this year – faster now than under JZ. That should be a huge concern for you. The cronies don‘t care – “let those whites leave if they want” – but you, as an intelligent businessman know that this is not a good sign.

Oh, and by the way, the wealthy leaving, they‘re not all white. That capital they leave with is money that would otherwise be invested right here. Bringing in a few billion foreign dollars on one side doesn‘t help if you‘re losing a few billion dollars on the other side. So, in future when you tell us about foreign investment you have secured you also need to tell us the offset of money leaving. I‘ll bet that‘s a higher number.

You asked us to “send you”. That‘s great, but Mr President… we didn‘t send you to mess up a good thing.