Ricochet News

DA to march against rising unemployment

DA to march against rising unemployment

Democratic Alliance (DA) leader Mmusi Maimane has confirmed the party would stage a march in Johannesburg on January 27th, in protest against the country’s escalating unemployment rate.

Speaking in a statement, Maimane said President Jacob Zuma’s shock decision to fire Nhlanhla Nene as Finance Minister on Wednesday night, is likely to have a dramatic effect on the country’s already high unemployment rate of 25%.

“Since the decision, the rand has plummeted to record lows, investor confidence has further dampened and ratings agencies have issued comments that should make us very concerned about the probability of South Africa being downgraded to “junk status”, Maimane said.

“Thursday’s economic decline, in the context of broader mismanagement of the economy by President Zuma’s government, will undoubtedly see unemployment growing and the current 8.2 million unemployed people even further from job opportunities”.

Taking a swipe at Zuma’s failure to provide reasoning for dropping Nene in favour little known new minister David van Rooyen, Maimane said the president is “setting South Africa up to further impoverish our poorest [people]”.

“We cannot stand by and allow our country to be harmed irreparably by a President who does not care about us. It is time for change. Our country has achieved far too much to allow one man and his dishonest government to destroy our future,” he said.

A short while ago, the rand was trading at R15.83 against the US Dollar after briefly dipping below the R16/$ level.