Johannesburg - South Africa was facing trying times and needed its citizens to unite and work together to avoid the country being downgraded to junk status by rating agencies, Chief Justice Mogoeng Mogoeng said as he delivered the annual Oliver Tambo Memorial Lecture in Johannesburg.
“The economy of South Africa being downgraded to junk status should be avoided as much as one would avoid a mamba when they see one. Those of us in positions of leadership need to interact with the business sector, potential investors and do all that needs to be done for the sake of the economy,” Mogoeng said on Thursday.
Investors look for political stability in a country before they invest in it he said. South Africa needed to ensure political and economic stability. Leaders could differ in any way they saw fit, but never in a way that sent a message that their country was unstable, especially for potential investors.
Mogoeng cautioned those in power to be careful of what they said and to avoid creating the impression that all was not well in South Africa.
“If you do not want to be unfairly judged, why then can't you be proactive? All of us are wise enough to tell whether what we do and what we say has the possibility to communicate the unintended message that there is or there might be political instability or unpredictability. Perception means just about everything to the global community....particularly the private sector.
“When you find yourself located in a continent that has not known stability, you ought to know at all times that some suspicion will always be looming on the horizon and you may just go the same way as many other [countries] have gone...therefore, extra caution in ensuring that you're never suspected of what you are not is always called for.”
Harden attitudes
The problems the country faced demanded that everyone propose solutions and not “harden attitudes” as that would make the situation worse.
“We have a collective responsibility as South Africans because this is the only country we have, black and white, to make sure that like other nations, a few years down the line be able to look back and smile at the progress we would have made...I am inspired and fired up and will do more than I have already done and encourage all other South Africans to contribute to the development of this country and never assume that that is the responsibility of the government do do everything...all of us cannot afford to be complacent, we still have a long way to go until we achieve all what is promised in the Constitution.”
South Africa faces being downgraded to junk status before the end of this year as a stagnant economy and political infighting within the ruling party rages on.
The infighting has divided the African National Congress (ANC), the continent's oldest liberation movement, more so after Finance Minister Pravin Gordhan was charged with fraud by the country's head of prosecutions, Shaun Abrahams. Gordhan has received support from many of his comrades within the ANC, civil society and the private sector who see the charges as an attempt by those in power to remove Gordhan and be able to take charge of the public purse.
Earlier this year, Gordhan undertook an international roadshow to assure investors that the country was doing all it could to overcome its economic woes.
Thursday marked the birthday of Oliver Reginald Tambo, one of South Africa's anti-apartheid struggle heroes. He lived in the community of Wattville, Ekurhuleni, with his wife, Adelaide Tambo, from 1948 until he went into exile in 1960, and then on his return to South Africa in 1991. Tambo served as ANC president from 1967 to 1991. He died in April 1993, aged 76.
AFRICAN NEWS AGENCY