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07 March 2024 Photo SUPPLIED
Gcina Mtengwane teaches in the Community Development Programme at the Centre for Gender and Africa Studies, University of the Free State, Qwaqwa Campus.

Opinion article by Gcina Mtengwane, Centre for Gender and Africa Studies, University of the Free State.


The notion that 2024 could echo the transformative spirit of 1994 holds weight. South Africans find themselves in a pressing need for positive social, economic, and political change. Yet, the avenue through which this change will manifest - a reformed African National Congress (ANC), an opposition party or a coalition government - remains unchartered territory. South Africa is on a downward trajectory. As various international indexes project corruption and poor governance, noting also that those indexes may not at times be accurate, the lived experiences of South Africans echo despair, disillusionment, and a betrayal of promises for a better life, particularly among the working class and the poor. 

The first democratic election in 1994 heralded an era where a new government had the opportunity to represent the interests and aspirations of all citizens, countering the discriminatory policies of apartheid. It fostered optimism for equal access to opportunities and life chances regardless of race, religion, gender, class, or ethnicity.

However, the transition to democracy, like any new venture, brought forth both opportunities and challenges. Actualising the vision of a ‘rainbow nation’ necessitated tangible legislative reforms and macroeconomic strategies beyond mere rhetoric. Consequently, initiatives such as the Reconstruction and Development Programme (RDP) in 1994, the Growth, Employment and Redistribution (GEAR) strategy in 1996, The Accelerated and Shared Growth Initiative for South Africa (ASGISA) in 2005, the new Growth Path in 2010, and the National Development Plan vision 2030 were implemented. While the efficacy of these macroeconomic frameworks remains contested, there is a consensus that more can be done and perhaps differently.

Parallels between 2024 and 1994? 

South Africa grapples with high unemployment, alarming crime rates, and an education system ranked among the world’s worst. South Africa is among the most unsafe countries in the world with an estimate of 27 494 murders recorded in 2022-2023. Ranked at 50th out of 63 countries, its education system is rated among the worst performing in the world. The education system fails to equip matriculants with practical skills for sustainable livelihoods. Additionally, funding exclusions and high dropout rates plague higher education, exacerbating the crisis. NSFAS has proposed defunding certain qualifications from its budget and half of those who do make it to universities drop out in their first year.  Moreover, South Africa measures the highest income inequality in the world, with a Gini coefficient of around 0.67, race being a key factor in a society where 10 per cent of the population owns more than 80 per cent of the wealth.

Persistent income inequality and deeply entrenched racial disparities are hindering the opportunities for upward social and economic mobility for the majority, notably the youth. The unemployment rate among youth, which includes persons between 15 and 35 years old, is around 60%. There is low support for and a high failure rate of start-up small to medium enterprises (SMMEs) with between 70% to 80% failing in the first five years of operations. There is a high rate of youth neither in employment nor in education or training (NEETs).  Data shows that 32.6% of graduates struggle to find work within the first two years of graduation, implying that for some, regardless of educational attainment, there is no optimism regarding the prospects for a better future.

The issues highlighted above are just some of the issues facing South Africa. These challenges underscore the urgent need for well-conceived and actionable solutions. A governing party must demonstrate clear policy direction and effective implementation mechanisms to uplift the most vulnerable while safeguarding the rights of all citizens, irrespective of race. However, certain radical policy proposals, like affirmative action and land expropriation without compensation, pose significant ideological divides.

Opportunity to nurture democracy

South Africa boasts over 30 years of democratic experience, providing invaluable lessons from past elections. There is a unique opportunity to nurture democracy and freedom, as is enshrined in the constitution, ensuring the well-being of current and future generations. The prospect of a coalition government looms large, potentially marking a historic shift. While unprecedented at the national level, coalition governance has been trialled in various municipalities including Johannesburg, Nelson Mandela Bay, and Ekurhuleni. However, these experiments often resulted in governance failures, characterised by instability and policy dissonance, rather than cohesive leadership. Political rivalry among the parties undermined service delivery and good governance, leading to the failure of coalition governance at the local government level.

Policy misalignment emerges as the key impediment to coalition success. The recent formation of the ‘Moon-shot pact’ underscores the necessity for aligned policy positions among coalition partners to avert governance crises.

Voter implications

Voting entails entrusting a political party with the responsibility to serve the interests of millions. It demands an informed understanding of the party’s policies as outlined in its manifesto. While individual charisma may sway voter preferences, informed decisions are imperative amidst South Africa’s challenges and opportunities. 

News Archive

Alumni in the financial sector: money talks!
2016-12-26

Description: Marina Marinkov Tags: Marina Marinkov 

Marina Marinkov, Economist at the
International Monetary

Description: Evangelina Nailenge Tags: Evangelina Nailenge

Evangelina Nailenge, General
Manager: Investment Institutions at
Namibia Financial Supervisory Authority.

Description: Vuyelwa Vumendlini Tags: Vuyelwa Vumendlini

Vuyelwa Vumendlini, Chief Director:
Global and Emerging Markets, National
Treasury.

Description: Meshach Aziakpono Tags: Meshach Aziakpono

Prof Meshach Azaikpono, Professor of
Development Finance, University of
Stellenbosch.

Description: Anton Nicolaisen Tags: Anton Nicolaisen

Anton Nicolaisen, Provincial Head for
the Free State Province, Standard Bank.

Where are they now?

On good days, most of us battle to set our personal finances straight,  let alone be responsible for a large enterprise. So we are extremely proud of the well-trained and talented Kovsie alumni who fill prominent shoes. Operating mostly away from the public eye, they make decisions to improve the economy on various levels. It is heartening to know that the UFS contributes to financial matters and training all across the globe.  

Marina Marinkov


Courses: BCom (Economics), BCom Hons (Money and Banking), and MCom (Economics) (2000-2004)
Current position:
Economist at the International Monetary Fund
Biggest career obstacle: I once worked for an organisation with poor leadership which negatively affected employee morale and job performance. It still proved to be a great learning experience, though. Bad bosses can teach us powerful lessons.
Best career advice:
Stop doubting yourself, work hard and be humble.
Fondest memory of UFS: Time spent on campus with my classmates, whether studying for finals at the library or just catching up between classes. The UFS was also my first employer and I have plenty of wonderful memories with colleagues at the Department of Economics.


Evangelina Nailenge

Courses: BCom Hons (Money and Banking) MCom (Money and Banking) (2005-2006)
Current position: General Manager: Investment Institutions at Namibia Financial Supervisory Authority
Biggest career obstacle: At times, being one of the youngest requires you to work twice as hard to earn your voice and cue at the decision-making table.
Best career advice: “Whatever your hand finds to do, do it with all your might, for in the realm of the dead, where you are going, there is neither working nor planning nor knowledge nor wisdom.” Eccl. 9:10
Fondest memory of UFS: Walking around the campus. Its well-manicured lawns and gardens had a calming effect in the midst of academic pressures. I will forever treasure the moment I first saw my name engraved in the walls of FGG, as the best postgraduate student for both 2005 and 2006.

Vuyelwa Vumendlini

Course: BCom Hons (Economics) (1996-1999)
Current position: Chief Director: Global and Emerging Markets, National Treasury
Biggest career obstacle: Doubting your own capabilities.
Best career advice: The sky is the limit, go for it all out, but most importantly, do something that you are passionate about it. It makes your work much more meaningful.
Fondest memory of UFS: Working as a tutor in my honours year and being able to help other students. I also enjoyed hanging out at Mooimeisiesfontein on Saturday afternoons.


Prof Meshach Azaikpono

Course: PhD in Economics (2004-2008) “The Depth of Financial Integration and its Effects on Financial Development and Economic Performance of the Southern African Customs Union Countries”. He received the Founders’ Medal for the best PhD dissertation in Economics in South Africa.
Current position: Professor of Development Finance, University of Stellenbosch.
Biggest career obstacle: I was fortunate to never have experienced a major career obstacle.
Best career advice: Pursue and focus on your passion.
Fondest memory of UFS: Being a part-time student, I had very limited interaction with the broader university environment. But I really enjoyed the support provided by the library staff and the staff from the Department of Economics. It was always like coming to see friends.


Anton Nicolaisen

Course: BEcon (1986-1989), MBA (1999-2003)
Current position: Provincial Head for the Free State Province, Standard Bank
Biggest career obstacle: Earlier in my career, I fell into a comfort zone and had to acquire the willingness to change.
Best career advice: Continuously challenge yourself to be the best possible person you can be, and run your own race. Learn through difficult times, and be open to change.
Fondest memory of UFS: Although I was not the biggest academic, I enjoyed interacting with lecturers … their stories and unique characteristics. Back then, I interpreted some as funny or awkward, only later did I realise how much I had learned from them. And of course, I’ll always remember the team spirit at athletics meetings and intervarsity.




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