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Written by Lynelle Clark
On 14 March 2024, under the supervision of Daily Maverick’s MC, Rebecca Davis, senior journalist, leaders came together for a robust dialogue.
Rebecca Davis had her work cut out for her,
which she did with sophisticated flair.
Even from an online point of view, one noticed
the level of professionalism the conference held. In partnership with Ninety
One, Pick a Pay ASAP, The Friedrich Naumann Foundation and Henley Business
School, it was an enormous success.
The Gathering Twenty Twenty-Four conference had
six panels which touched on fundamental questions in our society. But I will
focus on what the economists had to say about South Africa’s current economic
environment.
With the elections around the corner, we are
holding our breath for the outcome. The 2024 election is a turning point, and
as important as that of the 1994 election.
South Africans are ready for change.
We pray for change.
Desire change.
But the question is, are we ready for change?
The right mindset to change is the key.
But the question that carries the most weight
is, do we have skilled leadership?
The narrative of the panel was: “How do you
give an economist the jitters? Tell them an election is coming. Low levels of
short-term confidence and certainty represent a risk to prospective investors.
What’s the possible long-term gain of a “change”? And what (realistic)
political scenario is most conducive to the business environment?”
We are not unfamiliar with the term A vote of
No-Confidence. In the political sphere, it is a common characteristic on
provincial and national level. Economic uncertainty and the continuous
breakdown of systems and dissolvents of institutions have marked our economy in
a terrible light.
Investors are pulling out; skilled people are
leaving, and our education system fails the next generation. South Africa
cannot afford another four years of this trend. Change must happen. Unless we
do not face the facts, it will continue on a downward spiral. And who will pay
the price? You and me.
Dr Iraj Abedian, founder and CEO of Pan-African
Capital Holdings, “Economy does not operate in a vacuum. It requires at least
two complementary solid foundations. One is the regulatory environment within
which different businesses have to operate. And, it requires another important
complementary pillar, a political system that is accum to the needs of the
economy.”
In layperson’s terms; we need governing
stability to grow. As Dr Abedian stated, the money is there, but we, as South
Africans, must show the international investors that we are credible. That we
believe in ourselves and act as a democratic country.
During the discussion, it was stressed that
unemployment is a human resource problem. The human resource training is no
longer effective and is stuck in old ways of thinking. It needs to change. We
are short of skills. Whether it is an electrician, an engineer, a doctor, or a
bricklayer, we need up-to-date skills.
Skills must translate to the ability of the
application.
Dr Abedian said, “The age of certification are
gone.” We must question the titles; if it does not translate to the ability to
lead, then we must strip the title bearer. If they cannot do the job or are not
honourable, they must be removed.
Capability is a must.
Accountability is a must.
Without it, we will not survive.
Old leadership must be replaced with new
thinking. “We need a 45-year-old president.” Said Mark Barnes, former CEO, SA
Post Office. “Africa is the undiscovered opportunity.”
We must think individual first.
Another problem we have is unskilled labourers.
The unskilled labourer cannot be ignored. They need to work. They have to eat.
They must pay rent. By giving them an opportunity, we help them to get ahead.
Skills are important, but for the unskilled
worker, even if it is the first job at a factory, it is their chance at
schooling. Schooling is necessary to change their situation for the better.
Stated Ann Bernstein, founder and executive director of the Centre for
Development and Enterprise (CDE).
What can the average person do for change?
Vote. Vote for a difference. Do not vote for the same party. Especially if they
haven’t produced.
The current government has impoverished this
country. In 1994, they wanted to change the lives of every black citizen, but
that didn’t happen. Currently, we have the highest unemployment rate in the
world.
We can only bring change when we stand
together.
The political environment that will be
conducive for the economic environment is: There is no shortage of money, there
is no shortage of investors. There is no shortage of opportunities. The funds
are waiting but we need credibility of the election process and the attraction
of economic resources. The government must understand how the economy function.
Because of lack of knowledge, they don’t know what is going on in the current
market. We need a government that understands the markets. We are not attractive
enough. Ignorance is bliss, is no longer an excuse. The second thing is
infrastructure upgrading. Our infrastructure needs radical change. Our roads,
railways, aviation, ports, bridges—everything needs an upgrade.
A new attitude towards the private sector and
how they work is needed. Only when we stand together is change possible.
South Africa needs a government that has
everyone on their mind and not only their party members. When the elect is in
the Office of the President, he/she cannot think party but people first.
We have to understand each other to co-inside
within a new cultural environment. We need commercial vividity. If we do not
set aside our own way of thinking and think community, individual first, all
the talk will not be enough to bring change.
South Africa is waiting for us.
Are we up for the challenge to change?
Copyright Lynelle Clark 2024
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