SOUTH AFRICA : PERSPECTIVE
I am aware of the problems we have in South Africa, but am of the opinion that the Zuma government is doing reasonably well. Lots of mistakes have been made and lots are still being made, but matters are slowly improving, well that is my opinion, but the facts are :
1. We hosted a successful World Cup Soccer Tournament and (although still far too high), crime is slowly decreasing in spite of serious problems with our Police, Courts (Justice System) and prisons.
2. Our growth rate in the last quarter was 4%
3. Our inflation rate was the lowest for a long time, about 3.6%
4. Our interest rate is the lowest it has been for 31 years. 7.5%
5. Plan are afoot for a major upgrade of our railway system, amongst others a fast speed rail service between Johannesburg and Durban and Johannesburg and Cape Town
6. Plans are afoot for 6 nuclear power stations
7. Overseas investors obviously have confidence in South Africa!
8. The Rand was R6.95 to the US $ yesterday which is very good.
9. Gold was over R1 300 per ounce
10. Wal-mart is negotiating the takeover of SA Massmart who owns among others Game, Dions, Macro and Builder’s Warehouse for about R30 billion
11. HSBC is negotiating to take over Nedbank SA for also about R30 billion
I believe the future in spite of all the present problems, is bright and I have faith in our beautiful country, South Africa.
Danie Miller - 30th September 2010
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