RW Johnson: Gordhan no Horatius on bridge, SA firmly on path to bankruptcy

accreditation
Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!

For a brief moment, those with an appreciation of economic realities were hoping the ANC had come to its senses. But despite the disaster of the past week, this afternoon’s ANC Press Conference turned out to be more of the same, with ranks closed around its leader Jacob Zuma. So ignoring the coffee shower delivered by global investors, for the moment at least the country continues along its path to bankruptcy predicted by former Oxford don RW Johnson in his best-selling How Long Will SA Survive? In this brilliant contribution Johnson applies his mind to the most recent developments, including the ad-libbed embarrassment where Zuma revealed himself , again, to be little more than “a semi-educated street corner activist”. Unfortunately, a rather expensive one for taxpayers. – Alec Hogg

By RW Johnson*

It says something that the best comment on the sacking of Nhlanhla Nene as Finance Minister came from Julius Malema. Describing the situation as one of “pathological crisis”, Malema said that “No one in the world will trust a political leadership that changes cabinet and finance ministers like underwear.” It is also difficult to argue with Malema’s reference to Nene’s replacement, David Van Rooyen, as having “questionable political credentials” – after all, Van Rooyen may have been mayor of the great city of Merafong but most diplomats and journalists would have some trouble locating that town on a map. Moreover he is not even a member of the ANC’s national executive committee.

Support independent journalism
Subscribe to News24 for just R75 per month to read all our investigative and in-depth journalism. You can cancel any time.
Subscribe
Already a subscriber? Sign in
Rand - Dollar
15.88
+0.3%
Rand - Pound
21.03
+0.4%
Rand - Euro
17.87
+0.6%
Rand - Aus dollar
11.30
-0.7%
Rand - Yen
0.14
+0.4%
Gold
1,780.78
+0.1%
Silver
22.37
-0.1%
Palladium
1,849.31
-0.3%
Platinum
960.28
+1.9%
Brent Crude
73.08
+4.6%
Top 40
66,514
+3.0%
All Share
72,939
+2.7%
Resource 10
70,120
+4.0%
Industrial 25
96,001
+2.8%
Financial 15
14,195
+0.7%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot