Zuma promises swing to business-friendly policies
Hindsight may prove that last week South Africa got the precise Election result it needed. A still dominant ANC lost enough ground to realise that job creation has to move from the words to action phase. And to achieve this it must align economic policies with global best practice. A Developmental State that crowds out the private sector will not attract the investment required to trigger fresh employment. On the other hand, the ruling party retained enough of a majority to provide breathing space to pursue non-populist policies. A Reuters team was on hand over the weekend to hear the country's President Jacob Zuma commit himself to the type of business-friendly policies that we have been hearing from African rivals Nigeria and Ghana for some years already. With a mandate to govern for the next five years and having shed the extreme left to the new EFF, we dare hope Zuma is now committed to address long-overdue blockages. The manner in which he realigns his new cabinet will tell us whether such hope is justified. – AH
By Ndundu Sithole and David Dolan
"This mandate gives us the green light to implement the National Development Plan and to promote inclusive economic growth and job creation," Zuma said in his acceptance speech, referring to a pro-business platform adopted by the ANC in 2012.
He is widely expected to now appoint a technocrat cabinet in an attempt to revive the economy and tackle 25 percent unemployment.
Zuma hinted this week that the ANC needed to take a more pro-business stance, accusing the main platinum union of irresponsibility for dragging out a four-month wage strike.