View Full Version : ANC policies and joblessness

03-29-2012, 03:58 PM
Just read an article on Business Report about joblessness and government policies. And it strikes me that whilst they say they want to increase employment their policies say something completely different.

Article is an interesting read, full of nice stats but I'm not sure if it creates an accurate picture of the country, I still feel very optimistic about things but I don't think the government policies are doing our employment numbers any good.

Excerpt from article:

“They’ve got to make South Africa a much more attractive place for investment,” said Mark Mobius, the executive chairman of Franklin Templeton’s Emerging Markets Group. “I’m not only talking about foreign investment. I’m talking about local investment.”

Violent service delivery protests and a populist push by the ANC Youth League to seize mines, banks and land, together with inadequate power supplies and a labour system that is as rigid as in France and Sweden, is pushing investors to consider alternatives from Australia to Peru.

Policy uncertainty is preventing the country with the biggest mineral reserves globally, as assessed by Citigroup in 2010, from fully benefiting from demand in China and India. South Africa attracted $4 billion (R31bn) in mining investment in the first nine months of last year and Australia, which exports many of the same minerals to China, received $34bn.

This surprised me ... we have the biggest mineral reserves and yet we only received USD 4 billion compared to Australia's USD 34 billion. It just doesn't add up.

The World Economic Forum’s 2011/12 Global Competitiveness Report ranked South Africa 139th out of 142 countries in terms of the competitiveness of its hiring and firing practices, just behind France and Sweden and ahead of Portugal. It was 138th in flexibility in determining wages, just after Sweden, and 127th, after Mali, in the quality of its primary education system.

Okay so the stats don't look good but I think the country, at least for me, is better than the picture these created.

But then I have a stable job and a steady income - guess if I was jobless it would look a little different.

03-29-2012, 03:58 PM
Sorry forgot to post the link: http://www.iol.co.za/business/business-news/joblessness-policies-threaten-future-1.1265136