PCB Blog - Our Role in SA's Future
Our Role in SA's Future |
| 2011/07/13 |
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Melanie Veness: PCB CEO As a country, we have plenty to be proud of. We are a well-respected member of the international community, and were recently included as a member of the exclusive BRICSA. We have the 24th largest economy in the world and even though our population is only 6.5% of Sub-Saharan Africa's, we produce more than 30% of the region's GDP. Due to some very sound economic policies, our public debt is only 36% of GDP and external debt is sitting at a very acceptable 16%. According to the World Economic Forums' Global Competitiveness Report, our auditing and reporting standards and regulation of securities exchanges are the best in the world and we rank in the top seven in regard to the soundness of our banks, financial services and the efficacy of our corporate boards. We also scored favourably for local supplier quality and our anti-monopoly policy. But there are also things that we can't be proud of, things we should be addressing as a country - things that cost us. The constant reports of corruption, incompetence and maladministration in our government are unacceptable, especially when one considers our high unemployment levels. What of the hurtful, embarrassing and destructive racial politics that is destroying our credibility as a rainbow nation and breaking down the very fabric of our society, not to mention scaring off investors. Consider the shocking state of our health and education systems and the unacceptably high levels of violent crime. In recent times, our leadership seems to have been weak on addressing these issues. There are also some very serious threats to our economic sustainability, including the threat of nationalising our mines and the proposed changes to the labour legislation. In fact, a number of the Bills that are currently before Parliament are unacceptable.The freedom enshrined in our constitution is under threat from the Protection of Information Bill and our precious democracy is being threatened by the Land Tenure Security Bill. It is good to take pride in our achievements, but it is equally critical to play an active role in our country's future. We need to stand up and be counted. I am encouraged to see various elements of civil society taking stands against some of these challenges, but as ordinary South Africans we need to do more - we need to robustly engage when we don't agree and we need to hold our leadership accountable. |
| Tags: BRICSA(1) Economic(7) Competitiveness(1) Politics(2) Crime(5) |
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