Debt counselling is an option for over-indebted South Africans, but experts recommend alternatives like negotiating with creditors directly.
Debt counselling is an option for over-indebted South Africans, but experts recommend alternatives like negotiating with creditors directly.
Patrick Bond
Patrick Bond
Desmond D'Sa
Desmond D'Sa

DURBAN – WHAT is junk status, why should we be worried about ratings agencies, and what does radical economic transformation mean?

The People’s Economic Forum aims to make the worlds of business, finance and economics easier to understand in a “festival of learning” to be held from April 27 to May 3, ahead of the World Economic Forum Africa in Durban from May 3 to 5.

“It is where people can ask questions about how world economics affects them. Today, words such as junk status and radical economic transformation are common parlance, but not many of us know how it affects us, and why we should be concerned.

"The forum creates the space to explore these concepts and learn,” said Nisha Rajah Naidoo, a committee member.

The forum, which takes place in various venues in the city, will comprise local and international speakers, workshops, films and creative activism.

Films will form a key part, and Naidoo said these include international Emmy award-winning director Rehad Desai’s The Giant is Falling, which will premiere in Durban at the forum, Kalushi: The Story of Solomon Mahlangu (SA) and Love Story (US) by Michael Moore.

Honorary University of KwaZulu-Natal political economics professor, Patrick Bond, also part of the committee, said the forum was the “antidote” to elitist control.

“We will explore why the world’s problems will not be solved by the elite,” he said.

South Durban environmental campaigner Des D’Sa said people needed to be part of the change, and that began with understanding the issues facing the world.

“There is a crisis out there and we need to act. Information will help us achieve that. Big business is profiting because we don’t take a stand. In this way the forum will educate and inform, and stimulate debate on these issues,” said D’Sa.

For more information, visit “People’s Economic Forum” on Facebook.