South Africa is a country in crisis with a glaring need for a national economic debate, a panel of leading representatives from business and civil society told the audience at a recent GIBS Forum.

Joel Netshitenzhe, executive director of the Mapungubwe Institute and Commissioner of the National Planning Commission (NPC), said the protests at Marikana and De Doorns in 2012 are the danger signals that something needs to be done:  “There needs to be recognition that the current levels of poverty and inequality will imperil both the poor and the rich of South Africa. If the country’s microeconomic dynamics continue as they are, we won’t be able to build walls high enough to stop the poor from invading our homes. A debate is in the common interest of society.”

“Frankly, the need for an economic Codesa is a no-brainer. The power that be have not seriously thought through how to manage the economy,” CEO of the Chamber of Mines of South Africa Bheki Sibiya said.

Source: Finweek