OPINIONISTA: The DA is the only party that can fix the Eskom mess By Natasha Mazzone Natasha9Mazzone
South Africa has been on a downward spiral for more than 10 years. This is demonstrated by the country’s dismal economic growth rate, rising unemployment, increasing inequality, constant downgrades of the country’s credit rating and now again, the risk of the national power grid collapsing. What is becoming clearer by the day is that the African National Congress and President Cyril Ramaphosa have put us in this situation.
At the most recent update on Eskom and the rolling blackouts, the Minister of Public Enterprises Pravin Gordhan basically told South Africans to prepare for worst and that they did not have a plan to resolve a crisis of their own making. When Gordhan was appointed, some had hope that he would bring drastic changes to state-owned enterprises. However, what we have seen is his old and overplayed “new boards and bailouts” strategy, which is no more than a façade of action being taken.
Put differently, would you invest your pension in VBS? It is estimated that about R100-billion in investment would flow out of South Africa in the case of a Moody’s downgrade. This will weaken the economy further and unemployment will inevitably increase as well.
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