The Institute for Security Studies launched its Prospects 2043 report on Tuesday, with strong leadership seen as key to long-term stability in the country
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But there has been “rekindled hope” that the government of national unity could be a positive force in steering the country on a path of growth and accountability. South Africa needs accountable and competent leadership grounded in evidence-based policies to foster sustainable growth, according to the report.
The report said the key to reducing inequality and joblessness lay in stimulating rapid economic growth, particularly through more labour-intensive sectors. Moreover, economic reforms would only succeed if anchored in a stable macroeconomic environment. This meant keeping inflation low and ensuring sustainable public finances.
But the government must also address barriers to market access, including antiquated tariffs and poorly maintained infrastructure. Among the various sectors analysed for their potential to generate jobs, manufacturing emerged as a frontrunner, particularly light manufacturing. But without decisive action to address the dominance of the South African Democratic Teachers Union and corruption in educational institutions, the country’s human capital will continue to stagnate.
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