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How to rescue SA’s ailing economy

Dr Nthabiseng Moleko: ‘Discard SAP-type economic management of the economy’

Let’s not repeat the mistakes of the past

In the 1980s we saw the devastation that hit many African economies when they adopted structural adjustment programmes (SAPs). Despite the hopeful dreams of democracy, new leadership and the discoveries of oil, platinum, copper and diamonds, this mineral surge was inadequate to bring the economic revival our continent desired. Financial mismanagement, coupled with the blind adoption of SAPs, worsened many nations’ economic conditions. The inadequate increase in per-capita gross domestic product (GDP) growth was coupled with stagnant or worsened welfare of the poor. 

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Nthabiseng Moleko
Dr Nthabiseng Moleko is a development economist at the University of Stellenbosch Business School and co-author of the report New Wine In New Wine Skins: An Alternative Economic Strategy for South Africa’s Economic Reconstruction
Martyn Davies
Dr Martyn Davies is managing director for emerging markets at Deloitte and dean of the Deloitte Alchemy School of Management
Duma Gqubule
Duma Gqubule is founding director at the Centre for Economic Development and Transformation

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