14 November 2017

South Africa: Trainspotter - New Deal, Old Spiel - Ramaphosa Campaigns On Saving the South African Economy

Photo: Nick Roux/Wikimedia
South African Notes and Coins (file photo).
analysis

Um, WHAT economy? By RICHARD POPLAK.

'It defies logic, all parties are happy with their scores - it's a win-win situation for everybody.' - Cyril Ramaphosa, upon the successful negotiation of the Interim Constitution.

At precisely 18:00 military time, White Monopoly Capital's back line filed into the Orlando East Communal Hall - Investec's Stephen Koseff, Goldman Sach's Colin Coleman, FirstRand's Johan Burger, to name only a few. It was a touching moment: the cohort with the most to lose (at least in financial terms) had come in force to cheer on their Manchurian Candidate. They looked morose, as if they were deficient in iron and vitamin D, and who could blame them - the currency has apparently hung itself in a flophouse cupboard; the entire Johannesburg Stock Exchange is propped up by a Chinese internet company; Jacob Zuma is about to steal all of their money. They were down to one option: Cyril Ramaphosa, and a speech that was billed as a promulgation of his brand new economic policy.

You could basically feel the rand twitching.

But more important, where was the complimentary Rupert & Rothschild and the platters of artisanal biltong?

Despite all of the flash and financial muscle...

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