Remember this ‘hippo mouth’? It’s keeping Mboweni awake

hippo mouthRemember this image? Tito Mboweni presented this hippo mouth in June to explain that the country is at a cross-roads. The finance minister isn’t solely responsible for the plan to fix SA. He will have to get his fellow ANC leaders to buy in to a sensible plan to get the country back on track. 21 October has been pencilled in as the date when we will hear how those behind-the-scenes discussions have gone.

Fixing economies after Covid-19 is a global challenge, with the International Monetary Fund and World Bank expected to meet this week to thrash out suggestions to survive recession and push the Group of 20 largest economies to extend a freeze in debt payments from the poorest countries. However, SA was in trouble before the pandemic turned off global cashflow engines, with widespread corruption at state entities, a bloated civil service and policies that tie up businesses in red-tape and favour labour dragging the economy down.

PS: Thinking of diversifying offshore? Don’t miss the OrbVest webinar on Tuesday at noon when you will hear about lower risk property investment opportunities that generate US dollar returns. Free, but you must register to attend:  https://attendee.gotowebinar.com/register/8416944439687108877

Your Monday treat. Free access to BizNews Daily Insider subscribers: the audiobook of Anthony Butler’s masterful biography on SA president Cyril Ramaphosa. Read by BizNews founder Alec Hogg: https://iono.fm/c/5507.

Visited 548 times, 1 visit(s) today