The value of the South African rand is in dramatic decline in the wake of allegations that South Africa supplied munitions to Russia, highlighting the urgent need for foreign policy guided by economic pragmatism and respect for human rights, and macro-economic policies that will ignite growth and job creation, according to ActionSA leader Herman Mashaba.
Mashaba said in a statement that the rand’s deterioration shows the disastrous impact President Cyril Ramaphosa’s ANC has had since his election as president in 2018.
“He has now presided over two recessions during his presidency,” said Mashaba.
According to him, the “damning allegations that South Africa supplied weapons to Russia also jeopardises our participation in the African Growth and Opportunity Act (Agoa) initiative, which grants us preferential duty-free market access to the US”.
Mashaba says that time after time, President Ramaphosa has proven that he is incapable of providing the leadership needed to turn around the economic crisis facing South Africa, and recent decisions by his government may worsen the economic and unemployment situation in the country.
“With each passing day, the ANC does more damage to South Africa’s global standing and economic prospects. Now, more than ever, we need a solutions-based alternative to the failed policies of the ANC. ActionSA, a party born out of a consultative process in the People’s Dialogue, is committed to providing this alternative.
“Over the next couple of months, ActionSA will be embarking on a wide-scale engagement process ahead of our policy conference from 12-14 September, 2023. This will include expert-led round-tables, extensive internal consultation, and broad public engagement. Just yesterday we launched an online public policy engagement process to allow all South Africans to share their ideas of how we can fix South Africa together,” said Mashaba
Mashaba added that South Africans are not only hungry for change, they are hungry for a solutions-based alternative to the failed political establishment.