Less talk more action to solve 0% growth forecast says economist Iraj Abedien

A statement was issued yesterday by the South African Reserve Bank Governor Lesetja Kganyago that the bank has now cut its forecast for our economy, and that it now believes our economy will not grow at all this year.

Stephen Grootes speaks to Dr Iraj Abedien, Chief Executive Officer of Pan-African Capital Holdings, about future outlooks. Abedien says he is not surprised by the figure.

It's been a secular trend over the past four or five yeas, that our GDP has been continually scaled down, or projected down.

Dr Iraj Abedien, Chief Executive Officer of Pan-African Capital Holdings

Local and international projections suggest that there's a structural impediment to this economy regaining it's growth momentum.

Too much talking and analysing has caused paralysis, he says.

It's gone to the point of thinking that talk and feel good speeches or promises will turn the economy around. The economy has gone way beyond that pint, a long time ago.

Dr Iraj Abedien, Chief Executive Officer of Pan-African Capital Holdings

He says what does turn an economy around is "always delivering and under promising. Talk less, act more." The key is to demonstrate that you understand what is at stake and create confidence and a level of credibility.

This is where South Africa and the government as a whole, is failing us badly.

Dr Iraj Abedien, Chief Executive Officer of Pan-African Capital Holdings

The injection of investments into the economy by private and public sectors needs to be carefully monitored quarter by quarter, he says.

Unless investments begin to flow in a substantial way, no economy can turn the corner, no matter who is leading.

Dr Iraj Abedien, Chief Executive Officer of Pan-African Capital Holdings
Read More
Coup plotter accused named in court

Coup plotter accused named in court

A 33-year-old man faces charges of conspiracy to commit murder with an alleged hit list of 19 people, including Cabinet members.

October deadline for four universities to submit improvement LLB degree plans

October deadline for four universities to submit improvement LLB degree plans

Universities under review who wish to continue offering an LLB degree have to show they are going to improve standards says CHE.

Music streaming is the way to go (the CD is dying) - music blogger

Music streaming is the way to go (the CD is dying) - music blogger

Blogger Simon Hodgson responds to reports that revenue from music streaming in SA has increased by 334.2% over the past year.

Gordhan sounded like a typical politician (on CNN) says analyst

Gordhan sounded like a typical politician (on CNN) says analyst

Analyst Lesiba Teffo says former finance minister Pravin Gordhan should have taken a stand during Christiane Amanpour interview.

"My relationship with Helen Zille is difficult" - Mmusi Maimane

"My relationship with Helen Zille is difficult" - Mmusi Maimane

DA leader Mmusi Maimane says he is disappointed in Helen Zille over her tweet on colonialism.

Midday Report Freedom Day Special: 4 scenarios for South Africa's future

Midday Report Freedom Day Special: 4 scenarios for South Africa's future

Stephen Grootes discusses SA's future with Frans Cronje author of 'A time traveller's guide to our next ten years.'

Popular articles
Scopa could probe Fransman for R9 billion paid to consultants

Scopa could probe Fransman for R9 billion paid to consultants

The payments in question were made between 2005 and 2008 while Fransman was Transport and Public Works MEC.

"I'm no longer going to watch Isidingo"

"I'm no longer going to watch Isidingo"

Will Isidingo lose viewership over it's episode tackling racism?

Oldest apple tree found on Table Mountain

Oldest apple tree found on Table Mountain

Tru-Cape's varietal expert, Buks Nel unpacks the history of the oldest apple tree located on Table Mountain.

[Listen] SA's youngest female PhD grad opens up about her achievement

[Listen] SA's youngest female PhD grad opens up about her achievement

23-year-old North-West University student Musawenkosi Saurombe aces her PhD thesis passing with no amendments.

Sea Point's Mojo Market opens for business on Thursday

Sea Point's Mojo Market opens for business on Thursday

A new lifestyle market is set to open in Sea Point, offering a variety of food, art, fashion and entertainment seven days a week.

Still no trace of missing Charlotte Nikoi, one month on

Still no trace of missing Charlotte Nikoi, one month on

The husband of missing Charlotte Nikoi has pleaded with public to come forward with any information regarding her whereabouts.