Today's Big Stories

We are marching towards a recession - Iraj Abidian

The Rand fell to its weakest level against the dollar as it reacts to the battle between Finance Minister Pravin Gordhan and the Hawks.

Iraj Abidian, Executive Chairman at Pan-African Capital Holdings says you don't have to be an expert to see how low the ship has sank.

He says what has been happening in the past few weeks in South African politics makes no sense at all.

We cannot make sense of the situation because its totally nonsensical, it is just antithesis of governance and antithesis of leadership from whatever angle we look at it

Iraj Abidian, Executive Chairman at Pan-African Capital Holdings

Remember political leadership is the key pillar of economic stability and prosperity.

Iraj Abidian, Executive Chairman at Pan-African Capital Holdings

Abidian says what is currently happening clearly shows that there is no stability and coherence in our economy. He says the leadership is undermining national interest and some individuals should be sued for betraying national interest.

He continued to say this country is marching towards recession.

If this nonsensical behaviour doesn't want to stop, rest assured that we will end up in negative growth which is recession

Iraj Abidian, Executive Chairman at Pan-African Capital Holdings

When asked what should be done to fix the situation, Abidian said that people should continue calling for sanity and accountability to the constitution and accountability to institutions of government.

Listen to the full conversation below:

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