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South Africa Is Quietly Collapsing
From Jan Lamprecht
Pbs@IAfrica.com
www.AfricanCrisis.Org
| There have been a number of most troubling things which have
happened in South Africa in recent days which shows that the country's
economic base is slowly crumbling and falling apart. One was the accidental, but nevertheless troubling, run on SAAMBOU bank. Due to some troubling news reports there was a run on the bank (something which is virtually unknown in South Africa). One billion Rand was withdrawn and the bank was put undercuratorship and all withdrawals stopped. I am in the computer industry, and I hear all sorts of related stories, many of which do not make the wider news. The company I work for is part of a group of companies, and this entire group is facing collapse. We don't know how many months we have left. Dimension Data has retrenched hundreds of highly-skilled staff (mostly white) over the past year. I was told that they recently retrenched more. One of the companies in the PQ group also retrenched some people a few days ago. I knew, from intimate sources that this particular company in the group may face a very serious situation, in time to come due to certain internal problems which affect them. Since the market is highly competitive, this particular company is at a great disadvantage and it has been known to me for some time that its future may be very bleak. Just yesterday, Steve Tswete held a news conderence trying to instill faith in the country. Apparently a news report came out saying that South Africa was one of the most corrupt countries in the world. The government was highly upset by it and tried to create the opposite impression. However much they may try, the true facts will eventually get out and about and people will see that South Africa is slowly sinking and dying, and black and white alike are heading for extremely troubled times and a lot of hardship. |
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