Zuma, Ramaphosa, Mashatile: SA Business must finally accept the problem is the ANC itself

During Thabo Mbeki’s time at the top, there was a rumble in business circles for a president less “aloof”. Jacob Zuma was welcomed in some quarters as a more “hands-on” executive, more connected with the people’s concerns, who would let those around him get on with the job. Business Unity SA (Busa) CEO Jerry Vilakazi said at the time: “We are pleased that the election of Mr Zuma creates certainty for the markets as to who is likely to lead the country in 2009.”

Remarkably, no concern was expressed at Zuma’s record of corrupt relationships following the jailing of his financial adviser, Schabir Shaik. Judge Hilary Squires mentioned Zuma 474 times in the publicly televised judgment, leading to the inescapable conclusion that Zuma had received bribes in exchange for using his influence, something for which he is still on trial, some 18 years later.

Vilikazi spoke instead of “the challenges that lie ahead”, which he defined as “unemployment and poverty”. The inescapable conclusion is that organised business thought it could do business with Zuma, moral quibbles aside.

Such optimism proved wishful thinking as Zuma emerged as less “hands-on” than “hands-in” (the till). Among the few who called it right at the time, Helen Zille stood out. Of the so-called “people’s person”, the DA leader warned: “This is a dismal day, not only for the ANC but for South Africa. It is an indictment on the ruling party that they could find no better candidate than Jacob Zuma to lead them.

“The Polokwane conference has also exposed many of Zuma’s supporters as unruly and ill-disciplined populists who cannot observe the basic norms of decent, democratic behaviour. These are the people to whom Zuma owes his election as ANC president and he will have to return the favour. He will be accountable to them.”

Only once civil society, the courts and the public at large turned on Zuma over his brazen State Capture project, did business finally find its voice. It took the 2017 firing of Pravin Gordhan as finance minister and his replacement by Malusi Gigaba to elicit a statement by the then Busa president, Jabu Mabuza, that the timing of the decision (note: the “timing”, not the decision itself) was “unfortunate”. He hastily added that business respected the president’s prerogative and intended to work with the new ministers. 

You could almost see the hands wringing.

Inevitably, Cyril Ramaphosa was welcomed as signalling the end of the chaos and corruption of the Zuma years, as a person who would understand what business wanted and needed, since he was from business — never mind the outstanding fact that he had made his money from his political connections.

And his pandering to the radical factions was seen as a means to keep the party together, keeping all sides, left and right, in the tent. “Radical economic transformation is, in essence, about building a more equal society through sustained inclusive growth,” explained Ramaphosa in 2017.  On taking over the presidency in February 2018, he said, “A new dawn is upon us and a wonderful dawn has arrived.” This proved to be a false start, in spite of the positive affirmation of the business community.

Among Ramaphosa’s strategies was the embracing of an EFF initiative to amend the Constitution to introduce unchecked land expropriation by the government, a move which eventually failed when the ANC and EFF could not agree on exactly how to parcel out the proceeds of this action.

Business confidence, which rose sharply on his taking over to register 45 on the RMB/BER Index, had fallen to just 36 in the first quarter of 2023. This index, which was overall higher during the Zuma than the Ramaphosa presidency so far, has barely been in positive territory — a score of over 50 — since 2008.

And now, we are told by some that Paul Mashatile is more decisive than the incumbent and will be the change that South Africa needs.

‘Perilous lunges and blunders’

Mistakes continue to be made