Article by Murray Burger and Dennis Farrell (Dr)
Dawie Klopper states that “Investor sentiment is currently exceedingly negative. This is being driven by the current debate over land, allegations that expropriation without compensation will be implemented, service delivery protests, the parlous financial situation that Eskom finds itself in and the untenable conditions and poor governance that exist in our municipalities – not to mention ongoing corruption and allegations of corruption. Trains are being set alight and, in addition, the drought in the Western and Eastern Cape is severely hindering farmers as they strive to produce optimally. It is both disturbing and frustrating that no action seems to be being taken on these matters. President Cyril Ramaphosa, meanwhile, is conspicuous by his silence and is failing to provide strong leadership.” PSG Wealth Pretoria East newsletter dated 23 August 18
As responsible and committed South Africans we have over the past weeks increasingly asked ourselves what needs to be done to turn the tide, you may have asked yourself the same question?
To add to what Klopper said above, below are further “indicators” Errol Pillay of GIC Impact, shared with members of the George Business Chamber on 16 August 2018
▪ Official labour force size: 33.9 million (59,1% of population)
▪ 15,6 million South Africans are currently unemployed (27,1% of population) (Western Cape 23%)
▪ 9.5 million (61%) of those officially unemployed have been out of work for more than a year
▪ Nearly half (46%) of the economically active population is idle, with 74% of these are under the age of 24
▪ 10,3 million persons in our population is aged 15–24 years i.e. 52 % youth is unemployed
▪ The burden of unemployment is also concentrated amongst the youth as they account for 66% of the total number of unemployed persons
▪ By any measure, youth unemployment is easily South Africa’s most pressing socioeconomic problem
At this stage you may be considering stopping to reading further and / or you may even have thoughts of … “getting out of here” … as soon as possible. Please do not consider …” getting out of here” … or not reading further. We first need to add to the above, after which we are sure you would be re thinking your actions.
Read the full article by clicking on the link below.