South Africa heading South
The new leader of South Africa will lead the country in the direction taken by Fidel Castro and others who believe government can manage businesses about which they know nothing. Their results are all that's needed to know what is ahead for South Africa. Scarce resources will become even scarcer and the country will need to rely on the kindness of foreigners more than ever.
South African President Mbeki Agrees to Step Down
Sept. 20 (Bloomberg) -- South African President Thabo Mbeki agreed to step down, bowing to an order by the ruling African National Congress and clearing the way for party leader Jacob Zuma to steer the continent's biggest economy.
Mbeki, who succeeded Nelson Mandela in 1999 to become the nation's second black president and oversaw its longest period of economic growth on record, ``will step down after all constitutional requirements have been met,'' his spokesman Mukoni Ratshitanga said by telephone from Pretoria.
The order by the ANC's 86-member National Executive Committee came eight days after a High Court judge suggested Mbeki pressured prosecutors to pursue corruption charges against Zuma, the likely winner in 2009 elections. He can't be named immediately because he is not a member of parliament. The legislature will choose an interim successor from its ranks.
Zuma, 66, has the backing of labor unions and the Communist Party, who opposed Mbeki's sale of state companies and efforts to balance the budget deficit. Zuma, who wrested control of the ANC from Mbeki in a Dec. 18 party vote, has pledged to increase spending on health and education and do more to fight crime.
``We are determined to heal the rifts that may exist'' in the party, ANC Secretary-General Gwede Mantashe told reporters today in Johannesburg.
Manuel Will Remain
Finance Minister Trevor Manuel, who has held the post since 1996, doesn't plan to resign, his spokeswoman Thoraya Pandy said by phone from Johannesburg today.
``The important thing is what happens to the rest of the cabinet, and investors will be keenly watching what decision Finance Minister Trevor Manuel will take on his future,'' Mike Davies, an analyst at Eurasia Group in London, said in a telephone interview.
The ANC still wants Mbeki to continue his mediation of the political crisis in neighboring Zimbabwe, Mantashe said.
Zuma has ruled out wholesale changes to Mbeki's economic policies even as unionists and communists have demanded changes to economic policies including the abolition of an inflation target and payments of income grants to the poor.
Since taking over the leadership of the ANC, Zuma has shifted his position on a range of policies, tailoring his comment to appease different audiences.
Policy Shifts
He said the government may make it easier for employers to fire staff and then pledged not to erode worker rights; he advocated public debate on reintroducing the death penalty and then said he opposed capital punishment; and he promised to protect the justice system's integrity as the ANC set about disbanding the agency investigating him, known as the Scorpions.
Zuma has also courted poor white Afrikaners, alienated by Mbeki's criticism of South Africa's white community and by affirmative-action policies.
``We are going to go through a phase of quite a lot of policy uncertainty,'' said Kevin Lings, an economist at Stanlib Asset Management in Johannesburg, said in a telephone interview. ``Zuma is by his nature, and the way he's approached things, more consultative than Mbeki. It will delay decisions on key policy initiatives.''
The ANC will approach all members of government and ask them to remain in their posts, Mantashe added. The party wanted to bring an end to instability and uncertainty in the financial markets, he said.
Deputy President Phumzile Mlambo-Ngcuka would quit if Mbeki did, her spokesman Denzil Taylor said before the ANC's announcement today. The ANC hasn't been informed of her decision, Mantashe said.
Zuma Investigations
Zuma has been under investigation for taking bribes from arms dealers since 2001, and charges against him were reinstated on Dec. 28.
Judge Chris Nicholson invalidated the charges on Sept. 12, saying prosecutors didn't follow proper procedures and that the case may have been politically motivated, a ruling the National Prosecuting Authority plans to appeal.
The ANC dominates South African politics, having won almost 70 percent of the vote in the last elections in 2004. New elections have to be held before the end of next July, after which Mbeki had to step down, having served a maximum two terms.
South African President Mbeki Agrees to Step Down
Sept. 20 (Bloomberg) -- South African President Thabo Mbeki agreed to step down, bowing to an order by the ruling African National Congress and clearing the way for party leader Jacob Zuma to steer the continent's biggest economy.
Mbeki, who succeeded Nelson Mandela in 1999 to become the nation's second black president and oversaw its longest period of economic growth on record, ``will step down after all constitutional requirements have been met,'' his spokesman Mukoni Ratshitanga said by telephone from Pretoria.
The order by the ANC's 86-member National Executive Committee came eight days after a High Court judge suggested Mbeki pressured prosecutors to pursue corruption charges against Zuma, the likely winner in 2009 elections. He can't be named immediately because he is not a member of parliament. The legislature will choose an interim successor from its ranks.
Zuma, 66, has the backing of labor unions and the Communist Party, who opposed Mbeki's sale of state companies and efforts to balance the budget deficit. Zuma, who wrested control of the ANC from Mbeki in a Dec. 18 party vote, has pledged to increase spending on health and education and do more to fight crime.
``We are determined to heal the rifts that may exist'' in the party, ANC Secretary-General Gwede Mantashe told reporters today in Johannesburg.
Manuel Will Remain
Finance Minister Trevor Manuel, who has held the post since 1996, doesn't plan to resign, his spokeswoman Thoraya Pandy said by phone from Johannesburg today.
``The important thing is what happens to the rest of the cabinet, and investors will be keenly watching what decision Finance Minister Trevor Manuel will take on his future,'' Mike Davies, an analyst at Eurasia Group in London, said in a telephone interview.
The ANC still wants Mbeki to continue his mediation of the political crisis in neighboring Zimbabwe, Mantashe said.
Zuma has ruled out wholesale changes to Mbeki's economic policies even as unionists and communists have demanded changes to economic policies including the abolition of an inflation target and payments of income grants to the poor.
Since taking over the leadership of the ANC, Zuma has shifted his position on a range of policies, tailoring his comment to appease different audiences.
Policy Shifts
He said the government may make it easier for employers to fire staff and then pledged not to erode worker rights; he advocated public debate on reintroducing the death penalty and then said he opposed capital punishment; and he promised to protect the justice system's integrity as the ANC set about disbanding the agency investigating him, known as the Scorpions.
Zuma has also courted poor white Afrikaners, alienated by Mbeki's criticism of South Africa's white community and by affirmative-action policies.
``We are going to go through a phase of quite a lot of policy uncertainty,'' said Kevin Lings, an economist at Stanlib Asset Management in Johannesburg, said in a telephone interview. ``Zuma is by his nature, and the way he's approached things, more consultative than Mbeki. It will delay decisions on key policy initiatives.''
The ANC will approach all members of government and ask them to remain in their posts, Mantashe added. The party wanted to bring an end to instability and uncertainty in the financial markets, he said.
Deputy President Phumzile Mlambo-Ngcuka would quit if Mbeki did, her spokesman Denzil Taylor said before the ANC's announcement today. The ANC hasn't been informed of her decision, Mantashe said.
Zuma Investigations
Zuma has been under investigation for taking bribes from arms dealers since 2001, and charges against him were reinstated on Dec. 28.
Judge Chris Nicholson invalidated the charges on Sept. 12, saying prosecutors didn't follow proper procedures and that the case may have been politically motivated, a ruling the National Prosecuting Authority plans to appeal.
The ANC dominates South African politics, having won almost 70 percent of the vote in the last elections in 2004. New elections have to be held before the end of next July, after which Mbeki had to step down, having served a maximum two terms.
posted by no_slappz at 11:41 AM
8 Comments:
good comment.
censorbugbear,
A shift toward communism in South Africa will lead to its collapse. Then it will be like all the other sub-Sahara African nations, unfortunately.
No, your comment is not a good one. There is no indication South Africa is about to shift towards communism. Judging by your anti-Obama and Muslim posts, you feel non-Whie people cannot govern a country successfully.
Thabo Mbeki has agreed to resign, he is not taking the whole of parliament with him, the majority of the current ministers will stay in government. None of them favours communism so where do you get your ideas from?
anonymous,
Read the article posted with my comments. The ANC leans left and eventually things will fall in that direction.
Meanwhile, with the exception of one or two black nations, the governments of blacks nations are totally corrupt and serve only as mediums through which thugs steal everything possible from the nations they control.
As a continent, Africa is a mess.
Over a million children die in Africa each year from drinking dirty water. In other words, the governments of the sub-Saharan nations are so heartless and incompetent that they fail to provide clean drinking water, which is one of the easiest public health issues to manage.
Let me know when you find a prosperous black nation.
Thank You.
You have just proved my point: that your comments are racist.
Thabo Mbeki, Barack Obama, any African Nation, Muslims... all are the same to you.
anonymous,
Of course you refused to answer the question about naming a prosperous black nation.
Why? Because they don't exist.
There are also no truly prosperous muslim nations. Why? Becasue the koran essentially forbids prosperity.
If it weren't for oil, the muslim nations of the middle east would be as poor today as they were in 1900.
Show me the intellectuals of the black and muslim world.
Where are the black scientists? The black engineers? The black financial innovators?
Where in the world are they?
Obama might win the election. That would be tragic for the country.
Here's the problem -- and obviously you can't grasp it.
He has very strong leanings to the left. His entire life is a testament to his belief that government should control everything.
Meanwhile, though you may deny it, he is the son of a muslim father. It is the custom is Islam to declare that the child of a muslim father is a muslim. Hence, Obama, whether or not you agree, was born a muslim.
Second, he lived in a muslim nation during his formative years and he attended a muslim school.
Everyone is deeply affected by their childhood experiences, and his experiences occurred in a muslim framework.
Furthermore, he spent 19 years at the foot of Reverend Wright, who praises Louis Farrakhan. If Wright were not an America-hating leader of a black church, he would have been on Farrakhan's staff.
Hence, Obama has remained close to his muslim roots even while attending a Christian church.
As president, Obama -- with the support of a Democratic Congress -- will create permanent nightmares for American taxpayers.
The current financial problems are temporary.
I love that country, loved there for 5 summers in a row
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