Economics and Governance in South Africa

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Economics and Governance in South Africa
South Africa is one of the leading economic powerhouses in Africa. However unemployment, poverty, inequality, and poor governance continue to adversely affect social stability in the country. At the individual level, a majority of South Africans are poor and the huge disparity between the richest and poorest has resulted in heightened social unrest. As a result of the social turbulence, South Africa’s economy has been growing at a lower rate than is required to reduce unemployment and wealth inequity. The political revolution of the early 90s has not been supplemented with any sustainable economic structures that address structural unemployment, low productivity, and poor growth (Republic of South Africa). South Africa’s fiscal deficit as well as debt levels indicate that there is a limited ability to increase wealth redistribution unless the government starts implementing policies that consider marginalized populations and favor black economic empowerment.
The country’s economic woes are tied to its less tha...