PLEASE NOTE:

MyNews24 is a user-generated section of News24.com. The stories here come from users.

 
Donald Henderson
 
Comments: 4
Article views: 0
 
 
Latest Badges:

 
View all Donald Henderson's badges.
 

What's yours is mine

13 March 2014, 16:30

South Africans for many years have watched in wonder and amazement as Zimbabwe self-destructed economically, and politically, to such an extent that the local currency had to be abandoned with inflation at around 300million percent. While a period of “unity government” reversed the decline, the return of ZANU(PF) to full control of government last year has instigated the financial collapse once again. Oblivious to the desperate suffering of the people of Zimbabwe, Mugabe and his cronies are again on their familiar course of taking without contributing.

But, of course, it couldn't happen here, South Africans believe. Oh really?

Mugabe inherited a rich and vibrant economy with a healthy potential for more growth. But, after several years of little interference, he couldn't resist the temptations. Facing calls for political change Mugabe reacted by encouraging party supporters to take what they wanted. And they did. As the economy stuttered government joined in and Ministers took what they wanted, all for personal gain. Arable and productive land was laid waste and eventually businesses felt the pressure to allow selected friends of government to share profits while doing nothing to enhance business.

Last week the South African Government introduced legislation that will allow the state to take a “free” 20% stake in all new oil energy projects and to buy an additional share at an “agreed price”. Irrespective of the fact that this will terrify prospective investors, it smacks of similar legislation to the north. There is no suggestion that government wants to be involved as a financial investment so that it can offer expertise and direction as a direct input to the general fiscus. It smacks simply of taking for personal gain without any hint of commitment by contribution.

Mineral Resources Minister Susan Shabangu, responding to criticism from Opposition parties, claimed that it would not deter investors and accused those objecting of not being interested in change. “You're stuck in the past,” she claimed.

The Bill was passed by the National Assembly 226 votes to 66 votes and will now go to the National Council of Provinces.

Few would object to government being involved in projects of national importance if they showed real interest by buying into such projects and making a meaningful contribution as a stakeholder. But this plan to grab without any investment what others have made possible is a worrying feature that should be reversed. If the legislation goes ahead inevitably other areas of possible gain without pain will be considered and our country can kiss real investment a fond farewell.

Zimbabwe's economic woes are entirely self induced and should serve as a warning to others tempted toward that slippery slope.

Majority rule comes with many responsibilities. And an absolute majority, such as is embraced by the ANC, carries with it additional temptations of bulldozing through ill-thought legislation that provides a licence to reap what they did not sow. Most South Africans know what harvest that brings. Perhaps declining further Mugabe invitations to party would be a pleasant start.

Interestingly, Mugabe began his grab what you can policies 20 years after Independence. Should we be worried?

Disclaimer: All articles and letters published on MyNews24 have been independently written by members of News24's community. The views of users published on News24 are therefore their own and do not necessarily represent the views of News24. News24 editors also reserve the right to edit or delete any and all comments received.

 

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
4 comments
Comments have been closed for this article.

Read more from our Users

Submitted by
ElidKNaz (Writer)
Water: It’s Not Your Problem

I think that anyone living in an area not going through water restrictions needs to read this and take note of what I am saying. Read more...

0 comments 1966 views
Submitted by
Johnbosco Nwogbo
Memo to student protest leaders

To begin with, I would like to state my unremitting support for the cause for a free tertiary education in our life time. I think it is long overdue. Read more...

0 comments 426 views
Submitted by
CraigJoseph
"Free" is never free...

The #Feesmustfall movement is back in full swing after minister Blade Nzimande announced that the fee increases would be for each university to decide on. Read more...

0 comments 446 views
Submitted by
Faizel Laher
Are Students plotting their own d...

“Students” I implore you to please take stock and evaluate what has transpired since the FEESMUSTFALL initiative was started.  Read more...

0 comments 288 views
Submitted by
Anne Munro
What does " a right to free educa...

When students apply to a university, they are aware of the fees, terms and conditions so they know what they are in for.  Read more...

0 comments 1504 views
Submitted by
Skhenza Mkhize
For all the wrong reasons the rig...

All the revolutionary acts, all the revolutionary songs would have been sung for nothing. All the bravery displayed would have been shown all for sweet nothing.  Read more...

0 comments 940 views
 

services

E-mail Alerts The latest headlines in your inbox

RSS feeds News delivered really simply.

Mobile News24 on your mobile or PDA

E-mail Newsletters You choose what you want

News24 on Android Get the latest from News24 on your Android device.

SMS Alerts Get breaking news stories via SMS.

TV Get us in your home, on your television.

 
Interactive Advertising Bureau
 
© 2016 24.com. All rights reserved.
There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.




Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.