According to Eunomix Business and Economics Ltd, measuring a range of social, economic and governance measures, South Africa's performance has slumped more in the past 12 years than any other nation, not at war.
Eunomix CEO, Claude Baissac, who helped compile the report, speaks to #702Breakfast's Bongani Bingwa.
South Africa's decline over the past 12 years is similar to that of war-torn countries like Mali and Ukraine, or countries that are affected by a significant political crisis and economic crisis like Venezuela.— Claude Baissac, CEO - Eunomix
We are still better ranked than these countries, but our decline over the past few years has been astounding.— Claude Baissac, CEO - Eunomix
He adds that South Africa was performing very well when the data collection began; however, since then there has been a decline.
If things continue trending the way that they are, we will be in the same league as countries we don't want to be.— Claude Baissac, CEO - Eunomix
Baissac says he doesn't believe that President Cyril Ramaphosa is a weak individual, but says in essence, the country is back to where it was 25 years ago.
The question is does he [Ramaphosa] have the kind of political leverage and an economic environment that would allow him to achieve the same type of turnaround and miracles.— Claude Baissac, CEO - Eunomix
The truth of the matter is he doesn't, for one, the political context within the African National Congress (ANC) is different from what it was back then.— Claude Baissac, CEO - Eunomix
The second element is the economy. While the South African economy was terrible at the end of apartheid, it benefited tremendously from goodwill internationally, and we currently don't have this context.— Claude Baissac, CEO - Eunomix
Joining in the conversation, CEO at Pan-African Investment and Research Services Dr Iraj Abedian says there is a great deal of truth in what Baissac says, however, he believes that the economy functions differently.
We have now realised that we are in crisis. The president doesn't enjoy the full support of his party but will he be able to create a critical mass change across parties and the society?— Dr Iraj Abedian, CEO - Pan-African Investment and Research Services
Can he create enough purpose to acknowledge that we have been plundered and destroyed? Secondly, can we gather our strengths and build on that?— Dr Iraj Abedian, CEO - Pan-African Investment and Research Services
Listen below to the interview:
This article first appeared on 702 : 'SA's decline over the past 12 years is similar to that of war-torn countries'