South Africa did indeed face challenges the last few months that it didn’t in the years passed. From the Marikana debacle, other gold and platinum mine strikes, transport strikes, political unrest with the near coming Mangaung as well as a few downgrades from Moody’s. This all contributes to investors losing confidence in South Africa. As well as the e-toll system and ESKOM wanting to increase electricity costs again with 16%.
But we are not all that bad, and will not end up like Zimbabwe. We still have a lot of plus points. According to the Global Competitiveness Report of 2012, our financial system did very good. South Africa came first in the regulation of securities exchanges as well as first in the strength of auditing and reporting standards and third on overall financial market development. We have a flourishing tourism industry that is growing yearly (maybe Zuma’s Nkandla home will also attract more tourists). We are a country rich of resources that are globally in demand and will stay in demand.
The way forward for South Africa will be challenging, but it sure is not the end. The best way forward for South Africa will be to implement what is promised. To build infrastructure, build universities, provide learners with textbooks, provide efficient health care etc. If the government just implements all that it promises, it would already lead to sustainable development. If corruption within the government can be eliminated, more funds will be available to implement as needed.