SOUTH Africa risks becoming a failed state if its “lack of decisive, ethical, and courageous leadership” persists and no action is taken to bolster economic growth and address high levels of poverty, unemployment and inequality, according to the Institute of Risk Management South Africa.
“If South Africa continues to experience a continued breakdown of ethical and legal principles, unmanageable societal unrest and breakdown of the rule of law, complete economic collapse becomes almost inevitable,” the nation’s professional body for risk management said Monday in a report published on its website.
Leaders in the government and private sector need to urgently develop and execute risk mitigation strategies to respond to the country’s mounting challenges, IRMSA said.
President Cyril Ramaphosa’s pledge to effect widespread structural reforms when he took power in 2018, have been stalled by powerful vested interests, leaving the economy stuck in its longest downward cycle since World War
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