ANC faces historic election disaster – Standard Bank survey

Bongani Bingwa interviews Goolam Ballim, Chief Economist at Standard Bank.

Listen below.

Yesterday, President Cyril Ramaphosa delivered his final State of the Nation Address (Sona) for the sixth administration, with rife speculation about whether this marks the ANC's first departure from government since the start of democracy.

Standard Bank's latest survey indicates that the ANC is poised for its worst-ever electoral performance and that it will lose its majority.

Despite holding power since 1994 under Nelson Mandela and subsequent leaders, the ANC is steadily losing national support due to issues such as corruption, inadequate service delivery, and a stagnant economy, resulting in one of the world's highest unemployment rates.

Ballim recognises that there has been some improvement in institutional reforms through leadership changes, however, he contends that the country still bears the scars of a "butchered institution" from the Zuma era.

He emphasises that up to 75% of the reason any economy consistently prospers is due to adherence to the rule of law.

Regarding our governance structures, Ballim asserts that they have been "brutally undermined".

"The government is deeply incapacitated."

- Goolam Ballim, Chief Economist – Standard Bank

"Until we repair the foundation stones of the rule of law, of accountability and general sense of governance, then we will be in a perpetual state of attempting to stabilise the economy, rather than grow."

- Goolam Ballim, Chief Economist – Standard Bank

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