Poor are getting poorer – Manyi

2010-10-07 10:25

The country’s poor are becoming poorer, Black Management Forum (BMF) president Jimmy Manyi has said.

Manyi was addressing the BMF’s summit in Johannesburg today which was themed “Sustainable and Economic Growth in South Africa and the Rest of the Continent”.

“The BMF is greatly disappointed as we have seen that economic growth is not always synonymous with inclusivity,” Manyi said.

Just before the recession, South Africa’s economy had been bullish, yet unemployment had remained a problem.

Added to this was the “economic misery” on the continent that had led to southerly migration to South Africa.

Manyi said that when formulating a strategy, the conference had to take into consideration that economic growth had to be synonymous with job creation.

A skills deficit – and not a skills shortage – also remained a problem for South Africa and required a remedial strategy which the conference should study.

The BMF’s concerns on growth also extended to the rest of the African continent and for this the organisation was “unapologetic”.

“The political and economic stability of the rest of the continent has a bearing on South Africa’s own economic growth,” Manyi said.

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