The company hosted its midyear economic update, focusing on both international developments and SA’s political dynamics.
Internationally, concerns have grown around the possible effects of new tariffs from the United States and the broader slowdown in global trade. However, there was cautious optimism around SA’s forthcoming presidency of the G20, which Old Mutual says could offer the country a chance to strengthen its international standing.
Locally, the political climate took centre stage, with the Government of National Unity (GNU) under close scrutiny. Political analyst Prince Mashele, who spoke at the event, criticised the GNU arrangement, calling it a fragile alliance of rival political forces. He described it as “a collection of political enemies pulling in different directions.”
Mashele went further, warning that the internal divisions within the African National Congress (ANC) have accelerated opportunistic behaviour. “Some ANC officials are stepping up looting, driven by the fear that the party’s dominance is slowly slipping away,” he said. He also pointed to alleged links between politicians and criminal networks, describing it as part of a deeper governance crisis.
Old Mutual believes that while these risks are significant, there remains potential for progress if SA leverages its leadership role in the G20 to drive reforms and attract investment.
–ChannelAfrica–
