The State President of South Africa likes to call himself a businessman and entrepreneur which you would probably think is true because he is wealthy. The truth is 90% of the companies listed here are companies who gave him shares so they were BEE regulated and compliant in ownership. Some of these companies are big like McDonalds that Cyril was given the franchise rights for South Africa which he sold off making a fortune in 2016. The reason for the sale was a conflict of interest yet he still keeps his investment companies.
The problem with South Africa is obvious and that is leadership and decisions made by those leaders. Unemployment being at 32% or 34% makes very little difference with youth unemployment in the 60% area. The youth is misleading as this is the age group 16-34 so not exactly youth.
How are the leadership going to fix this when the "businessmen and entrepreneurs" have no idea how business even works. Everything they have owned is stolen through various manipulative means and not from hard work. The Standard Bank Cyril owns 1.2% and is or was a board member before his Presidency Those shares are worth a fortune.
SCAW metals is a metal group that has been under pressure from cheap Chinese imports and Cyril has done nothing to protect any local business. This highlights his share holding means nothing as he just keeps quiet and smiles. He tells everyone who wants to hear he has brilliant negotiation skills taught to him by Mandela and this is all fake.
Back in 2019 when Rhamaphosa won the leadership of the ANC over Zuma's cronies there was hope feeling the country could be saved. The feeling Rhamaphosa would not be the one stealing is because his is already wealthy and does not need the money. Once a thief always a thief and all he has done is moved his investments under another controlling investment house. Nothing changed, but the name which is still the same person.
The hope soon turned to despair as the economy has been tanking with no idea how to fix this. The problem is the next favorite to lead the country is none other than Ramaphosa's brother in law Patrice Motsepe. Motsepe earned his wealth through mining and he is also a WEF puppet. How he made his money I have no idea as it may have been through influence more than hard work. One just kind of presumes this with the so called elite as hard work and wealth don't mix with that type.
South Africa needs leadership that understands the economy and knows how a business operates. A funny story from when Zuma was in charge is when he chose our new Minister of Finance because he had heard that they had an online accounting degree. No one else he knew was qualified and presumed this guy would be ok. He lasted a few days and was replaced having not survived his first press interview.
The SA economy will not improve until there is proper leadership in SA and only then will we see unemployment decrease. This is obvious to fix yet frustratingly we will have to sit and wait for the right candidate if there is one around. They need a black ANC party member to fix this and many who have found business success independently are not ANC members.
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More like a shrewd thief than a businessman. Companies sadly can't do much other than cooperate because they're also in it for the money. Win-win at the top while the rest suffer the consequences. Sometimes, I think the system is so rotten that even leaders who can do the work better will have a hard time doing the work on such governmental environments.