When FW De Klerk announced the unbanning of the ANC, SACP and other organisations on 2 February 1990 - thirty years ago this week - South Africa’s “reset” button was pressed and a new era of political freedom ushered in. It required immense personal courage from De Klerk and Mandela, both of whom placed country over party.
But economic freedom did not follow. Instead, the number of unemployed has risen from 3.7 million then to 10.3 million now. This is a major national crisis and far worse is yet to come as Eskom follows SAA into a death spiral, battered by a corrupt, incapable state. Our economy teeters on the brink of collapse.
Looting, bailouts and mismanagement have spun national debt out of control, yet our government continues to spend almost R1000 million more per day than it earns. That is why it is targeting people’s property, pensions and incomes, causing ever more capital and skills to flee our shores. We’re caught in a low-growth, high-debt trap and the situation has become highly combustible.
South Africa urgently needs another “reset”. We need sweeping structural reforms – a radical change to the “rules of the game”. The DA is not alone in calling for this change. Finance Minister Tito Mboweni warned last month: “If you cannot effect deep structural economic reforms, then game over!”