The writing could well be on the wall when it comes to South Africa’s economic growth. The economy is under pressure and one of the bests ways to highlight this is through electricity demand, as data points to levels similar to those experienced in 2008, albeit debatable. But what’s needed to turn the tide? In an open letter to Parliament, Rhodes University professor Alexander Pierre Faure has a few recommendations. – Stuart Lowman
AP Faure’s open letter to members of Parliament*
Dear Honourable Members, Ladies, Gentlemen
It is possible for South Africa to exhibit sustainable high economic growth. This opportunity has been sorely neglected for decades (under the Nationalist and ANC governments), and unemployment, everyone’s central concern, remains one of the highest in the world.
This letter is an appeal (1) for careful consideration of the reasons for this state of affairs, and (2) for you to use your influence to bring about urgent corrective action.
There are many examples of countries which have turned a desperate situation into a success story within 20 years: Japan, South Korea, China, Singapore, etc.
There is no famine of advice on how to turn the South African economic story into a good one, and they are ad idem on the only solution (not the path to it): High and sustainable economic growth. Many of you will know the reasons for the absence of the solution, but perhaps not within the context of the many sources / drivers of economic growth. The document which follows this letter presents (1) a synopsis of the sources of economic growth, (2) comments on the South African situation within this context, and (3) inferred recommendations.
South Africa hosts a highly frustrated population, made up of people that are ready to work their fingers to the bone to transform South Africa into a winning nation. All that is required is political will, and time. It is our responsibility to influence the former, which will lessen the latter.
Yours faithfully
AP Faure
*Alexander Pierre Faure is a Rhodes University Professor with the following qualifications. Dipl (Agric) (US), MA (Economics) (US), DPhil (Economics)(US).
