EFF's Floyd Shivambu shares plan to save South Africa from job crisis

EFF's Floyd Shivambu shares plan to save South Africa from job crisis

- In an opinion piece, Floyd Shivambu said the EFF would reduce unemployment by increasing industrialization and focusing on South Afrian-made goods and services

- The proposals are in line with the party's election manfiesto unveiled over the weekend

- However, some are skeptical about the effectiveness of the kinds of policies Shivambu advocates

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Floyd Shivambu has said that the EFF has plans to save South Africa from its job crisis.

He made the claims in an opinion piece published by News24.

His solutions included stimulating sustainable industries, drastically reducing imports and focusing on industrialization.

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Shivambu's job proposals come after the EFF unveiled its election manifesto over the weekend. The manifesto includes radical policies such as nationalising all land, shifting all banks and financial institutions to majority black ownership within a year, as well as upping the minimum wage for several professions.

While the manifesto recieved some support, others expressed skepticism, calling it populist and unfeasible.

Shivambu's statement on the EFF's plan to reduce unemployment mostly fits the themes and policies of the manifesto. 

He says that a major cause of high unemployment is the fact that South Africa imports so many products.

As a solution, Shivambu proposes amending the Public Finance Management Act to ensure that the government buys 80% of all its goods and services from local sources. 

 He says that this focus on South Afrian-produced products should go hand in had with increased industrialization.

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While these policies may help fledgling South African businesses and could produce jobs, some economist argue that the kind of trade protectionism Shivambu is advocating may have negative consequences as well, such as limiting consumers' choice and also driving up the prices of products and services.

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Source: Briefly.co.za

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