The Intelligence from The Economist Antsy about ANC: reform in South Africa
Oct 17, 2019
Cyril Ramaphosa, President of South Africa, discusses his mission to reform the struggling African National Congress and tackle corruption left by former leader Jacob Zuma. He shares insights on the urgent need for reforms that balance immediate action with long-term stability for the economy. Robert Guest and John McDermott provide their expertise on South African politics, exploring how technological advancements in finance impact market behavior and the challenges posed by increasing political polarization in discourse.
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Ramaphosa's Reform Analogy
- Cyril Ramaphosa compared his reforms to a scene from Force 10 from Navarone.
- The commandos plant explosives, but the dam doesn't collapse immediately, requiring patience.
Urgency of Reforms
- Ramaphosa's honesty and reform efforts are acknowledged, but urgency is crucial.
- Foreign ambassadors consider him South Africa's last chance, highlighting the need for swift action.
Finance Minister's Proposals
- The finance minister suggests easing visa rules for skilled migrants.
- Privatizing parts of the power company is another proposal to improve functionality.