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Cape Town - Comments in this week's top ten were largely constructive following the Association for Savings and Investment South Africa (Asisa) conference where delegates charted a way forward for an injured SA economy.
The Sanlam CEO's assertion that 'SA can avoid ship from sinking' sparked interesting conversation around the National Development Plan and the government's policy of Black Economic Empowerment.
Commentators were also vocal about the news that 'SA wants to import oil from Iran'. After an extensive comment, user Sizwe Zondi said "this is a great partnership and people must just take a chill pill".
Frustration at Eskom continues as load shedding becomes part of SA's reality. At the Asisa conference economist JP Landman drew attention to Eskom's huge power grip over SA.
Below is the fifth weekly dose of top ten Fin24 user comments selected for their wit, value-add to the topic at hand and contribution to healthy debate in a country so much in need of constructive dialogue.
Top ten users comments on:
SA can avoid ship from sinking, says Sanlam CEO:
1. Jurgen Hartmann – Dr van Zyl is on the button and very courageous for pointing out what is going on. We have two opposing forces in SA, the private sector which is efficiently run and productive, and the government/quasi government which is extremely unproductive and corrupt, and effectively sucks up resources and money - READ STORY
2. Jacques Ackermann II - The framework of the NDP can grow our economy but factors like BEE and taxes curb economic growth. We cannot grow the economy if there is a system that forces businesses to comply with unrealistic demographic goals. After 20 years of BEE we are seeing the compounded effect on the economy. Instead of creating a long-term sustainable development model with competent workers in their respective positions, we have a crony system that only benefits those well connected - READ STORY
3. Bryan Pistol Sebola - @Jacques. First of all, if it was not for BEE no white company would give a small black business the time of the day in the private sector. We are still struggling to be even given the opportunity to prove ourselves as black business even with BEE in place. Government can only create a conducive environment through legislation for all to do business in this country, but the private sector also needs to come to the party and give everyone the opportunity to prove themselves. Instead of just shutting us down without even considering our proposals for business - READ STORY
Eskom has huge power grip over SA:
4. Buck Rogers423 - The problem is not caused by Eskom, like any business they would love to be able to meet demand. But, their biggest customer - local governments - do not pay them hence they have fallen way behind. This, like the Post Office, SAA, SANRAL are all products of a grossly inefficient central government. The ANC is wholly and solely to blame for load shedding and most other ills that all citizens are concerned about. Fact is we have more public servants than the USA which has 300 million people and an economy to match, the only way the ANC can keep votes is to create jobs for their brothers, whether they are needed or not - READ STORY
SA told to forget about communism, capitalism:
5. Fannie Mashilo - Pragmatism is a fraternal twin of capitalism - period, this one is a monster that has the capacity to skyrocket the widening gap between the rich and poor around the globe, the people who might benefit from this are those politically connected, especially in Africa, this pragma thing will blind the government by the dime they pay in the form of tax for short term. Neither communism nor capitalism can address all the social ills and inequality growing daily all over the world. Ever heard about the so called mixed economy? - READ STORY
6. Johan Schoeman - I think the problem is more in the red tape that government imposes on small businesses and small scale entrepreneurs. Having been involved in a start up recently, all the hoops you have to jump through and the costs are just crazy - READ STORY
SA wants to import Iran oil – official:
7. Laurence Weyers - Actually Iran rents our strategic oil bunkers just outside Langebaan to store their oversupply of oil I believe. So as much as I am sceptical of a "joint venture", and the current ANC members' desire to line their own pockets. If a joint venture is done correctly, it will benefit this country. However I have definitely come to mistrust the current ANC - READ MORE
8. Sizwe Zondi - I do not understand all the noise this report is bringing. Why must each and every piece of reporting lead to ANC and their corruption or end up being about racism?? Grow up guys....both black and white, if you do not have any positive knowledge and enriching comments, rather abstain from commenting.
By the way what is wrong with dealing with Iran? We have been buying oil from them for a long time...I read in one of the comments someone saying "ALL" the crude oil prices are fixed in terms of how we pay for petrol locally - that's incorrect. The famous "brent crude oil" price that everyone so claims to be an expert on simply refers to a certain grade..."A" grade if you want to call it, then you still have other grades that are way cheaper that can still produce the products depending on which mode you run a refinery or the setup of the refinery.
And that's where the difference is and that's where Iran comes in. Their oil is way cheaper in comparison to, say, the oil from Arabia. So in short...this is a great partnership and people must just take a chill pill - READ MORE
9. Tony Robbins - RSA needs to strike exclusive oil deals with these countries, either Saudi or Iran, so that we have exclusive rights over Southern Africa. If we can export fuel to Southern Africa, that will really help with our GDP - exports and Current Account Deficit. This will have an immediate impact on the strengthening of the Rand. A better GDP and Balance of Trade, is the only thing that will attract investors, which in turn stimulates the economy - READ MORE
'Marshall Plan' for SA:
10. Jim Boorman- Good article but you missed the most important point - Labour Laws that don't just stifle employment within small and medium size business sectors; these Labour Laws are killing any potential growth in employment. And this is in the sector that collectively employs more people put together than any other in an economy that has progressive Labour Laws. One has to wonder how long it will take for those in power to realize - READ MORE
Disclaimer: All letters and comments published in MyFin24 have been independently written by members of the Fin24 community. The views are therefore their own and do not necessarily represent those of Fin24.
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