Godfrey Sigwela
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Rush to accumulate wealth robbed the poor in South Africa

Port Elizabeth, South Africa Current Affairs June 8 @ 11:07am

Promises of creating dozens of jobs start to haunt the South African government. At stake now is to determine the kind of relationship the South African Reserve Bank has as regard to creating jobs. What about introducing a new loan banking system that allow the banks to keep the portion of the money borrowed. That would allow the banks to have enough money in circulation and borrow less from the Reserve Bank. Repo Rate would remain low as well as the interest rates. Also many jobs would be created. The portion invested would be given to the borrower once the loan is settled.
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