admincouldn’t help but be interested in what the media had to say about this suspension.
Most media houses had headlines like “Malema cut to size”, “Malema suspended”, Malema’s suspension a little too late” among other headlines. What I found to be of interest was the excitement in the
South African media, especially the white-owned ones.
There were mixed reactions in the black community about Malema’s suspension. Some in the black community saw Malema as their hero, the man who was pushing for their agenda.
Others who are benefiting under the current system, Malema is a nuisance and deserved what he got.
For the first time if the opposition parties in South Africa agreed with the ANC.
What I find to be very interesting was the response, not of the media, communities but of the economy.
Yes you got it right the ECONOMY also responded to the suspension of Malema and his team at ANCYL.
According to media reports and internet reports South African stocks extended gains after news of the suspension of Malema (30).
The rand also firmed slightly after the announcement of his suspension. One internet posting actually had a headline “SA stocks, rand cheer Malema suspension” others had articles like “South African mines will not be nationalised” all this after the Malema was suspended. So Malema’s suspension caused the economy to respond with the rand “firming slightly.”
It made me wonder what was going to happen to the South African economy if the ANCYL leadership was not suspended or given suspended sentences. Was the rand going to firm as mentioned? Or was it going to take a downward spiral?
This only cements the point that was mentioned by Dr Gideon Gono in his book the Casino Economy that you cannot separate politics and economics. I strongly believe if the ANC had not taken the position that it took against Malema and company, they would have lived to regret that decision economy wise.
I remember during the negotiations that gave birth to the GPA we have here in Zimbabwe, our economy in its state then responded to any news that was coming from the negotiations. I remember the moment that you hear that there is progress in the talks the prices stabilised a bit even the exchange rate would do the same.
This happened in its battered state that our economy was back then. The reverse would happen when the negotiators hit a brick wall. Now I understand why Dr Gono called it a “casino economy.”
Now Cde Malema has appealed against the decision of the National Disciplinary Committee of the ANC, how will the South African economy responds if Malema and his team are absolved of any
wrong doing and have their sentences set aside.
How will the media, opposition parties and or other anti-Malema sections of the South African community going to respond?
If you ask me, Malema is no longer fighting this suspension but also the perceived responses of any verdict which is not guilty. It’s no longer about his comments about Botswana or allegation of bringing the ANC into disrepute but also about the economy. Will Malema be afforded a fair trial in the appeal?
The appeal by Malema is already compromised and I don’t see him winning this one. It is no longer in the hands of the Appeals Committee of the ANC. I wonder how Cyril Ramaphosa and his team are going to handle this one.
There are many actors who really want Malema dead and buried, locked in political archives never to rise again. Remember he is the number one enemy of “so called international investors” and these are major actors of the South African economy.
Now that Malema has, presumably, been silenced, does that mean the poor have lost a channel through which their frustrations can be heard?
Will the causes Malema claimed to be fighting for disappear even if he loses the appeal he eventually moves into political wilderness?
Is the “economic freedom in our lifetime” ever going to see the light? Will it have life after Malema? Will the rand continue “firming” and the stocks “cheering”? And will Zuma secure the second term as the ANC president? Only time will tell.
Online Reporter