Babobski's Blog: News and opinions from South Africa and around the world

A South African blog with an international flavour


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The 2008 global financial crises will already go down in history as the biggest loss in confidence in the markets since 1929. The JSE has plunged by nearly 30 % already and the Nikkei lost another 10 % on 8 October.

Pushed to the back of our minds are other concerns we have about the world. Global warming is hardly mentioned anymore, who knows what’s happening in the wars in Iraq or Afghanistan. Pakistan have already had skirmishes with US special forces operating in cross border raids into Pakistan in what appears to be a new front in the War on Terror.

Robert Mugabe has seized power again in Zimbabwe, under the disguise of power sharing with the MDC. And yet again he is getting away with it as the world turns its attention to the financial crises.

There have been mutterings from Harare about why is it a problem when Bob prints money but its fine in the eyes of the world when “that little Bush” prints money. Once again Mugabe’s timing is impeccable as he points out how deurmekaar* (*African word for confused) the Westerners are and that him and Zanu PF know how a run a show better than any Westerner would ever be able to.

Meanwhile Zimbabwe’s financial position implodes even further. 80 % unemployment, a currency that is worthless and an economy that is in total ruins.

There is no more talk about aid packages to Zimbabwe as European leaders scramble to prevent a depression occurring that would affect the entire world, Africa included. It would seem that South Africa will have to provide for the restructuring of the Zimbabwean economy as world aid funding comes under pressure or simply dries up.

Any why not? Our economy has stood up well to the financial crises. The South African government and big business must take hands and take the opportunity to help our neighbours to a prosperous financial future in a democratic political environment.

Give the big corporate’s tax incentives to invest in Zimbabwe and kick start a market driven economy. Tourism, agriculture, mining, construction and banking are just a few of the opportunities that are available to bolster the economy and stabilize the currency.

Let Zimbabwe become the bread basket of Africa again and lets all benefit from achieving it without the help of the rest of the world who can’t care as they try to solve their own economic meltdowns and wars against mythical enemies.


Written by admin

October 15, 2008 at 4:15 pm

One Response

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  1. South Africa will have to stabalize Zimbabwe if they are s.erious about attracting foreign investment into the country

    south coast

    October 16, 2008 at 7:40 pm

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