Fin24

Economy needs stability - Zuma

2012-10-04 22:20

Johannesburg - South Africa's economy needs stability to promote growth, President Jacob Zuma told the SA Chamber of Commerce and Industry on Thursday evening.

"We have gone through a difficult period in our country in the past few weeks with wildcat strikes, one of which tragically claimed the lives of 46 people in Marikana," Zuma said in a speech prepared for delivery in Johannesburg.

"Let me use this opportunity to remind business and labour of the need to ensure shop-floor peace and stability in the country, in order for us to continue the collective responsibility of promoting economic growth and development."

South Africans were renowned for constructive social dialogue, and needed to create an atmosphere conducive to development.

"We should not seek to portray ourselves as a nation that is perpetually fighting."

The average incomes of black South Africans increased by 51% between 1993 and 2008, compared to 35% for whites, he said.

"Unfortunately, ladies and gentlemen, despite these achievements, the gap between rich and poor still remains. In that case, income inequality is still extremely high in South Africa.

"It has therefore proven difficult and is taking longer to re-engineer the economy to provide opportunities for those who were pushed into impoverished and remote rural areas under apartheid."

The United States, European Union, Middle East and North Africa were experiencing economic difficulties, while Japan was recovering from natural disasters and China was battling with rising food and oil prices.

"These affected countries comprise more than two thirds of South Africa's export market," Zuma said.

The New Growth Path, which sought to create employment and promote growth, was implemented in an attempt to address economic and social challenges facing the country.

"We are confident that our infrastructure build and also our programmes of industrialisation, preferential procurement and localisation will bring new opportunities and partnerships for business.

"Given the economic climate, things will not be smooth or easy.

"But this is a country that is looking forward, and we are all equal to the challenge, business, government, labour, community and all sectors of our society," he said.

Comments
  • tobydt - 2012-10-04 22:39

    "South Africa's economy needs stability to promote growth" The man is a friggin genius.

      max.reynecke - 2012-10-04 23:11

      Not only a genius, he is must be a brain surgeon, helicopter pilot, inventor of the underwater ice cream toaster, etc. to come of with this level of intellectual brilliance...

      John - 2012-10-04 23:42

      Wow! I'm speechless. And I'm sure so is the rest of our private sector.... Who knew our fearless leader could give us such pearls of wisdom...almost as good advice as coming from a jack Russell humping your leg...

      amanda.victor.92 - 2012-10-05 00:26

      Yet his party still want to nationalise 'some' industries. This man speaks with a forked tongue - no wonder investors are confused.

      sally.lewitt - 2012-10-05 03:04

      And the spear sticks himself on the foot.. If he was a branch higher you won't be able to catch him..

      alan.gernet - 2012-10-05 06:10

      *Wonders why Sinu.. got thumbs down*??? Perhaps a little sarcastic poke at the prez is beyond the wits of some? Anyways Mr Prezzie, I think what SA needs is some good, honest and accountable leadership. Whaddya say to that? Oh and BTW, I don't think that the taxpayers should be paying 203Million bucks for upgrading the personal mansion at Nkandla.. in fact I think it has put the final nail in your Bob-like coffin, so to speak.

      mark.haupt.31 - 2012-10-05 07:16

      What is it with the thumbs down, don't people recognize sarcasm anymore?

      J.Stephen.Whiteley - 2012-10-05 07:30

      Bloody awful speechwriter you've got, Z. Oh, sorry, wrong blog.

      keith.f.murphy - 2012-10-05 07:45

      Becos the idiot cannot stabilise the economy and he knows that he is a useless so called leader

      michael.lockett.714 - 2012-10-05 08:19

      You don't have to be a rocket appliance to figure that out.

      nrgx.nrg - 2012-10-05 09:01

      Zuma believes none of this crap, he just "reads" whats put in front of him. To be honest, this sounds more like the spin doctor himself...Mac. Its almost as if someone is trying to sabotage zuma with these "pearls of wisdom" lately, but then again, this is the anc we are talking about!

      claudia.meads - 2012-10-05 10:23

      Blame others, blame others, blame others... – that should be the ANC chant banned by the court (not only that other death chant). All South Africa needs, to get a refund on its one-way ticket to hell-and-gone, is a mirror. The introspection will reveal that all SA needs is a massive improvement in PRODUCTIVITY – that is all..!

      alf.pop - 2012-10-05 16:11

      Did he come up with that while practising with his Zuma Wrestlers? The country has been going through a difficult period since Zipper took over! His only goal is to loot ands rape the country! Illiterate sod!

  • makavelithedonkilluminati.shakur - 2012-10-04 22:42

    And that gap between rich and poor is mainly caused by you,king zwelithini and the bunch of corrupt cde in the ANC.

      christelle.james.7 - 2012-10-04 22:55

      But he insists on fuelling the racial fire. And until they stop doing it, the hatred will continue and the fighting will not stop. Don't they get it.

      croix.mactee - 2012-10-05 05:52

      What this country needs is a NEW GOVERNMENT .......

      makavelithedonkilluminati.shakur - 2012-10-05 06:34

      @Croix,yes that's true,anything but not DA.

      bob.mcmillen.564 - 2012-10-05 09:39

      Shakur, why not the DA, they have actually proven themselves in the Western Cape, and pleeeeze don't come with this BS they are a White party, this is propaganda created by the ANC.

  • keamogetswe.seoma - 2012-10-04 23:00

    Is He Joking or wat..before u comment about economy, please tell us about R203 million house...I have lost respect for you and it is time for a change....or are you reading your speech written by someone

      John - 2012-10-04 23:44

      Or R55million king goodwill is getting for miscellaneous expenditures this year alone..

      john.bucknall.1 - 2012-10-05 05:02

      Give ol goodfornothing a break, one *itch, expensive, many *ithes will cause miscellaneous expenditures on a royal scale.

      alan.gernet - 2012-10-05 06:11

      All politicians have their speeches written by their Spin Doctors. If you want to see what Juju, The President etc REALLY THINK .. look at their actions.

  • KingSim007 - 2012-10-04 23:11

    Stupid man...everyone knows the economy needs stability...just implement it

  • Prince Bird - 2012-10-04 23:28

    Zuma wa ntshilikisha! When i hear anything from him i feel like vomiting. sis!

  • megan.perrow - 2012-10-04 23:28

    AND Mr President, just how much increase did military employees receive?????? A paltry 7%! Military hospitals are disgusting, have you been to one lately Mr President? Oh and don't even let me start on government pension plans. You Mr President need to stop letting others lead you and start intervening before you end up as the President of just another 3rd world African country! While you're at it Mr President, please start looking after your military, after all your military looks after you!

      croix.mactee - 2012-10-05 06:00

      Careful when you mention 'military' - that might just start a new "Arms Deal". We all know how the previous one 'enrisshed' an elite few.

  • arthur.vandermerwe - 2012-10-04 23:32

    Thank you Dr Obvious!!! Is this man clever or what??? lmfao

  • ben.spreeth - 2012-10-05 00:24

    Your own labour laws prevent stability in the economy.

  • ppisciotta - 2012-10-05 00:24

    This lard-ass melon head needs to be put out of commission. He and his fat wives destablize our economy simply by breathing.

  • vincent.vinsaint - 2012-10-05 01:23

    Political stability first Msholozi. Politics is the mother of all environments. Our economy, religion, technology, history and geographical environments are doomed if politics is in dinasour's mouth. All you care about is money neh???

  • dan.ledwaba.5 - 2012-10-05 02:10

    "Economy needs stability" - Zuma Firstly Mr President, you need to be stable...in what you say, in what you do, in how you do it. Secondly Mr President, if you are stable, everything else in South Africa will follow suit.

  • Yello Kiya Kamy - 2012-10-05 04:14

    bought yesterday5L petrol For R150 yesterday. are we turning to ZiM or we are already ?

      elgh.elgh - 2012-10-05 08:11

      Uhh, you should have a chat to who ever sold you a petrol at R30/L.

  • andre.vanzyl.58 - 2012-10-05 05:38

    For the past few years we watched as strikers brutally beat and murdered their peers while the government did nothing because they did not want to upset Cosatu. Now the violent strike culture is commonplace and Cosatu has lost control.... We should all be very worried.

  • yolandi.reichert - 2012-10-05 05:55

    Well Zuma why don't you start dealing with inequility by giving your R200mil for home renovations (which I am sure is not needed) for the building of RDP houses???? Put your money where your mouth is! Stop expecting business to save the economy I government is doing everything in its power to sink it!!!!

  • samuelk.mohlakoana - 2012-10-05 07:08

    Awu Zuma is speaking like an outsider in this country, its clear that South African economy is sinking now. He should act frst by not over using the state money. Everything is going high nw. Companies also continue paying millions to managements and paying peanuts to hard workers.

  • Tiaan Liebenberg - 2012-10-05 07:11

    Seriously? Come on mr pres - surely your 'advisors' knows better. What this country needs is a workforce that understands the consequences of their actions. Their 'constitutional right' to strike must be revoked - stop allowing idiots to ruin the economy THEN stability will come.

  • attie.gerber.1 - 2012-10-05 07:16

    zuma stop blaming apartheid it is long gone. your own leaders oppressed your people in the apartheid days. the homeland where given money by the government then to develop the homeland to build schools, houses hospitals etc. , but what did they do they stole the money. like lucas mangope and the rest of them. took the money and bought houses in the u k and france and the rest of the world. your own people are still stealing the money today which is given to them to improve the lives of the people. stop looking for excuses and sort out your mess. furthermore the economy of today is the doing of your own government and belief me it will not get better the way you and your government is going about. in your life time or even your kid's life time it will not change. it is the africa agenda. only certain people like yourself and cadres reap the benefits of the land.

      attie.gerber.1 - 2012-10-05 11:13

      zuma look ahet you and govt is doing to the rand at the moment. next month we will pay r 13-00 a litre of petrol

  • Sedeshan Naidoo - 2012-10-05 07:28

    Then stop destabilising it you bastard!!

  • Zahir - 2012-10-05 07:30

    Your anc policies and comrades like cosatu broke the economy get them to go fix it

  • gerrit.vanpletzen - 2012-10-05 07:38

    And what he failed to mention, is that stability is achieved by responsible and transparent governance, by a government committed to promoting growth and the eradication of corruption and poverty. A government led by people who are not obsessed with self enrichment, where the gap between rich and poor is not maintained by a president who is only interested in taking money meant for the poor to build palaces to bolster his own waning public image. Zuma, you make me sick!

  • carolyn.myburgh - 2012-10-05 07:43

    Then stop stealing all the money

  • hendrikvs - 2012-10-05 08:12

    And the genius ringmaster has spoken!

  • sean.odonnell.1466126 - 2012-10-05 08:27

    Where is a good LHO to pull a JFK, when we need it?

  • eugene.muller.7 - 2012-10-05 09:40

    Find the stolen BILLIONS and give it back. How much could have been done with that?

  • johan.jacobs.5680 - 2012-10-05 10:04

    Then stop the wasting,stealing,striking,and get down to work.

  • boltonbarry - 2012-10-05 10:05

    We first need a good captain at the helm that is able to steer the shipt in to safer waters.

  • jurgen.eksteen - 2012-10-05 11:52

    Man needs air to breath ...

  • talana.malherbe - 2012-10-05 13:21

    Oh wow what a speech! Again no solution, so not surprised!

  • FUNKMASTERFLEX.AKA.BAIN - 2012-10-05 14:17

    I mean do we really expect much more from a person with a std 3.Scary thing is, Is this is the only leader the anc had for president?.Does not say much of the competence of the ANc and keeps Africa down to be looked down on and not taken serious by the whole world

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