Mining Mirror April 2019 | Page 3

Comment Cyril’s twilight days? Get in touch @LeonLouw3 [email protected] www.miningmirror.co.za A fter President Cyril Ramaphosa’s State of the Nation Address in early February, followed by Finance Minister Tito Mboweni’s budget speech more recently, it took two sober voices to bring me back down to earth. Ramaphosa and Mboweni are both exceptionally gifted speakers with lots of charisma, and they have the ability to make the worst of times feel like the best of times. My initial feeling was that South Africa is back on track, until I listened to economist Dr Azar Jammine and political analyst Aubrey Matshiqi at the Afrisam 2019 National Budget Breakfast held the morning after Mboweni’s speech. Their predictions were not encouraging. According to Jammine, what Ramaphosa is promising does not make sense and the figures just don’t add up. Sadly, the economy won’t recover overnight and might even get worse before it gets better. The so-called investment boom is unlikely to kick-start the fragile economy while Eskom and other SOEs continue to drag the country further into the red. Jammine says there is a real danger that Moody’s will downgrade South Africa’s investment status in future, which will be an additional shock to the system. But it was Matshiqi’s comments that caused the most gasps. His prediction that Ramaphosa might not be the president for too long after the national elections in May, will have most business people invested in the country grasping for any sort of heart medication. Most ANC members and South Africans believe that Ramaphosa is vital for the resuscitation of the South African economy, right? Wrong, says Matshiqi. Most ANC members oppose his policies and will vote him out at the slightest opportunity. Not only that, but other interest groups, especially the labour unions, will continue putting a spoke in the president’s plans. “So even if he survives his first five years in office, he will be the weakest president ever, as he will always have to look over his shoulder for new enemies,” Matshiqi said. On reflection, Matshiqi is right. The ANC following is just too wide-ranging to ever allow South Africa to move forward. One movement Corruption has been institutionalised, and it is too late to prevent the rot. alone cannot house such opposing groups and ideologies as free marketeers, capitalists, communists, and unionists. One cannot help but feel that the ANC has run its course. The core won’t hold, and the much-celebrated ‘party of the people’ will eventually tear right down the middle. And maybe it will be Ramaphosa’s disposal that prompts the split. While the business world applauds Ramaphosa’s and Mboweni’s reforms, a large group of the president’s own party members are plotting his downfall. Corruption has been institutionalised, and it is too late to prevent the rot. Ramaphosa won’t save the ANC or the country. No matter how noble his intentions are and irrespective of what the nation wants, his fate is in the hands of others, and among them are his fiercest opponents. People like Ramaphosa, Mboweni, Gordhan, and Manuel know what to do to fix the broken economy, but their efforts are continuously undermined by dark forces within the party itself. Until the ANC rids itself of these saprophytes, or splits in two, South Africa will be stuck in a state of torpor forever. Leon Editor APRIL 2019 MINING MIRROR [1]