THE chorus of business executives warning South Africa to revive economic growth or risk becoming a failed state is getting louder.
The continent’s most-industrialised nation needs strong and decisive leadership to foster public-private partnerships and address high unemployment, poverty and inequality, ex-central banker and former head of the Presidential Climate Finance Task Team Daniel Mminele said at an event on Tuesday.
Mminele, chairman-designate of Nedbank Group, joins MTN Group’s Chief Executive Officer Ralph Mupita in warning against complacency.
South Africa has an unemployment rate of 32.7%, one of the highest globally according to the International Monetary fund, and is suffering from an energy crisis, which is increasing costs for companies. That’s making it difficult to create jobs needed to reduce poverty and inequality.
The country needs a “higher sense of urgency in tackling these issues and much stronger implementation frameworks and stronger accountability frameworks,” Mminele said. “Otherwise, we are indeed,
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