Monday, 6 June 2016

South Africa, The Way Forward?

It is true, South Africa has so much potential and so much to offer. With the respect I have left for some of the country’s leadership I cannot help but think, should they have managed, respected and understood their roles better the country would be at its best at the moment. It is Africa’s time to shine on many platforms and the international stage and instead of leading the way like we always have we are slowly beginning to fall behind.

I am glad the fees must fall happened when it did and how it happened. The time for armchair politics is over, as the youth we need to recognise that we need to be pragmatic in our approach to solutions and answers for our country.

What the South Africa needs is a plan. We know that Government needs to successfully collaborate with the private sector and sketch a way forward. To move from a consumer based economy to a more manufacturing and production based economy. We have already seen the power of such collaboration between private and public sectors by the amount of funds raised to support SME's in tough times spearheaded by the private sector.

Then we need to empower entrepreneurs and our startup ecosystem to flourish.

Although a lot has been done to promote entrepreneurship, South Africa still has a long way to go. Contrary to a popular scenario, entrepreneurship in the country is on a concerning downward trend according to a Global Entrepreneurship Monitor (GEM) reportAnd simple things like registering a new business depending on who you are can be very expensive especially if you do not know how to do it yourself. 

To keep it short and sweet.

We set time frames and open windows of opportunity by easing up on the laws against foreign investment and venture capitalists to allow for financial support for small businesses and other institutions and markets that require foreign investment (With that being said, I am not particularly fond of foreign investment because no one invests without the hopes of getting capital plus returns so essentially leaving you with less than what you initially had in the first place. That is a topic for another day).

Hopefully, this allows for ease of access to funds by deserving SME’s and entrepreneurs, companies and businesses to empower and accelerate the manufacturing and production sector and relief some pressure on Government spending.

 Producing and manufacturing quality products and materials will offer our country great export opportunities. We adequately utilise funds that are necessary to ensure we see our plan through. Once there is enough capital and money in circulation, we slowly begin to tighten the belt on foreign investment wells, as a way to control the growth rate of the economy.  This will ensure that we monitor spending and use of funds and not unnecessarily inflating the economy. At this stage, we have invested enough in quality education systems and restructured it to support our economic ambitions to ensure we have enough courses and training centres to produce work-ready people available to fill the roles that have been created.

Sounds familiar? A great example of this would be the Chinese who earlier this year slowed down their economy.

Of course, this article touches the tip of the iceberg on the direction the country should be headed forward. There are many other things to take into consideration. Let me know, share your thoughts? 

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