Magnus Heysteksays that the South African economy is speeding headlong into a financial crisis, the result of a “PERFECT STORM” that is gathering on the horizon, which could wreak serious havoc on employment, the value of the rand as well as government revenues.
Yet, in the face of this approaching economic precipice, we have a government seemingly unaware or, worse, unconcerned, with the flashing amber lights that are warning of great financial instability, rising unemployment and low-intensity social uprising in many parts of the country in the form of service delivery protests.
The collapsing levels of service deliveries, which has long been a part of daily existence in many country towns, have now moved to SA’s largest metropolitan area, the Johannesburg-Pretoria axis.
What was considered unthinkable even weeks ago is now set to become a feature of daily life for consumers and business people alike in many parts of the country, including Johannesburg and Pretoria.
Full opinion piece here: Magnus Heystek: We’re headed for R12 to US Dollar.