The World Economic Forum (WEF) recently stated that the “most problematic factors for doing business” in South Africa was an inadequately educated workforce, infrastructure and crime.
The unions in South Africa are constantly lambasting Tito Mboweni for his stance on inflation targeting. Unions should be more focused in getting our workforce more globally competitive.
This will enable us to sell our locally produced products internationally thereby creating more jobs.
The strength of the Rand and the state of the global economy has not helped either. South Africa has many of the raw materials needed for manufacturing products that are consumed. Government has also been calling for beneficiation to take place.
Beneficiation should benefit many of the workers and increase the workforce. This cannot be done if we are not globally competitive and our workforce is inadequately educated.
Investors will only invest if they can see a return on their investment. Globalisation has allowed us to distribute to the world, now we need our workforce to be globally competitive.
If we are not globally competitive, the country will not be able to create jobs, something the unions should focus on.
The cry against inflation targeting by the unions is really short sighted as goods and services will become more expensive for everyone if inflation is not kept in check but will hit the poorest of the poor more than the affluent. Lets hope tha Gill Marcus will not bow to unions demands
