Tito Mboweni warns that the South African economy faces tough times ahead

SAfm — Finance Minister Tito Mboweni has warned that the South African economy faces tough times ahead and that painful sacrifices will need to be made going forward. Mboweni wrote an opinion piece in a Sunday newspaper where he called for structural reforms of the South African economy. This follows the GDP shrinking by a record 51 percent in the second quarter, its forth quarterly contraction in a row. Mboweni says the contraction in growth is larger than anticipated by both the National Treasury and the Reserve Bank. Mboweni writes that private investments are needed in government entities such as Eskom in order to grow the economy. For more on Minister Mboweni's views and concerns, Professor Raymond Parsons from the North West University's Business School elaborates...