HURRY UP
South Africa can score quick wins with the right focus, Goldman Sachs sub-Saharan Africa investment banking head Colin Coleman said last week after presenting data-rich evidence of South Africa’s financial sector and corporate strong points. Speaking at the Gordon Institute of Business Science, Coleman put the stabilisation of South African mining at the top of a list of eight priorities for this country, which the world-leading investment bank found had an extremely sound financial sector and low hard-currency external debt – but red-flashing 24%-to-34% unemployment lights. To raise economic growth, each of this country’s social partners would need to phakisa, which, translated, means ‘to hurry up’ – government needing to create a conducive environment for business, business needing to raise capital investment to drive domestic growth and jobs, and labour needing to create a stable environment for industrial relations.
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