Despite progress over last 5 years, SA's institutional fabric remains 'butchered' - economist
Despite the progress made over the last five years, Standard Bank’s chief economist, Goolam Ballim, said that South Africa’s institutional fabric remained 'butchered'.
FILE: Deputy Chief Justice Raymond Zondo is seen during a session of the commission of inquiry into state capture in Johannesburg on 16 November 2020. Picture: AFP
JOHANNESBURG - Despite the progress made over the last five years, Standard Bank’s chief economist, Goolam Ballim, said that South Africa’s institutional fabric remained "butchered".
On Thursday night, President Cyril Ramaphosa delivered his last State of Nation Address (SONA) for the current administration.
This with the country preparing to head to the polls for national elections in the next few months.
The president on Thursday night spoke about the efforts to reign in state capture, after the damage done during his predecessor’s time in office, saying that "great progress [had] been made in bringing those responsible … to justice", with more than 200 being prosecuted.
But speaking to 702’s Bongani Bingwa on Friday, Ballim highlighted that while there was a growing list of people being arrested, successful prosecutions and incarcerations were "sparse".
"So, effectively, we find ourselves in a situation where the president, Ramaphosa, arrived with much fanfare in terms of the potential to reform South Africa’s institutional foundation and the macroeconomic landscape. I concede that in terms of institutional reform, there has been some progress at the headline level in terms of leadership changes but overarchingly, South Africa still is suffering from a butchered institutional fabric following the Zuma era."