Big business urged to not sit on piles of cash - Prof Mthuli Ncube

Professor of Public Policy at Blavatnik School of Government at the University of Oxford, Mthuli Ncube, has called for big business in South Africa to stop sitting on piles of cash during uncertain times and urged them to spend it in programs that would create jobs.

Ncube teaches and researches in areas on macroeconomics, finance, development economics, political economy, and health economics. He spoke at the Old Mutual Wisdom Forum in Joburg, commenting on whether globalisation is crumbling or not.

You see the seeds of deglobalisation beginning to germinate is in things like Brexit, for instance, or the anti-immigration policies right across Europe.

Prof Mthuli Ncube. University of Oxford

Ncube points to the Syrian crisis as having brought on the perfect storm for Europe. The increase in that country's immigrants to central Europe occurred alongside the slowdown of those economies putting pressure on jobs, identity, social services and health.

_Prof Mthuli Ncube _(second from the left) appears on the Old Mutual Wisdom Forum panel with JP Landman (far left), Jeffrey Sachs and MC Eusebius McKaiser.

Worryingly, Ncube is of the opinion that mistakes are still being made. He cites credit lines to local banks that are being withheld, often in the name of managing risk. He says that has a demonstrable impact on trade financing on the continent.

There are real issues for Africa for example, the fact that global banks are no longer willing to give credit lines to some banks in Africa.

Prof Mthuli Ncube. University of Oxford

Asked whether the time for globalisation is over - Prof Ncube is of the opinion that a subtle tweak is all that is needed, that we should not weaken those institutions that facilitate globalisation but rather strengthen them, with some appointed to guard their integrity going forward.

Click below to watch the full interview...


Recommended

by NEWSROOM AI
Read More
Experience MTN Walk the Talk with 702 like you are in the crowd!

Experience MTN Walk the Talk with 702 like you are in the crowd!

50 000 people walking together for South Africa was always going to be a celebration of togetherness, and of Joburg's great people!

702 Truck of Love with Spar visits Vosloorus

702 Truck of Love with Spar visits Vosloorus

Our 28th Birthday has brought us to Mohau's Orphans and Disabled Home to spread some live and to meet a truly remarkable woman.

Break and rebuild to futureproof your business! - Pavlo Phitidis

Break and rebuild to futureproof your business! - Pavlo Phitidis

A new series of podcasts from Pavlo Phitidis illustrates the value of a (lesser known) business strategy.

702 Truck of Love with Spar visits Randfontein

702 Truck of Love with Spar visits Randfontein

In advance of 702's birthday, Spar has partnered with us to spread love to Gauteng's communities in need of smiles!

Ramaphoria has nothing on Coronation's latest campaign focusing on highs

Ramaphoria has nothing on Coronation's latest campaign focusing on highs

Popular investment manager evokes fond memories to promote its long-term valuation-driven investment philosophy.

[WATCH] Premier David Makhura's State of the Province Address

[WATCH] Premier David Makhura's State of the Province Address

Job creation, investment and improving the lives of people living in the province are themes expected to be covered by SOPA.

Popular articles
Are you ready to 'Walk the Talk' with 702 & MTN?

Are you ready to 'Walk the Talk' with 702 & MTN?

The annual MTN Walk the Talk with 702 takes place on 22 July this year, under the theme 'Walking for South Africa'.

From Cape to Cairo: 80-year-old Julia travels to Egypt using 20-year-old car

From Cape to Cairo: 80-year-old Julia travels to Egypt using 20-year-old car

‘It took approximately 4 – 5 months because I had to make some stops on the way for repairs.' - Julia Albu, the African Conquest

Madiba’s private secretary Zelda la Grange opens up about money (hers and his)

Madiba’s private secretary Zelda la Grange opens up about money (hers and his)

Bruce Whitfield interviews La Grange about her and Madiba's attitude to money (hopes and fears, successes and failures, etc.)

Unravelling Gupta links revealed in Parliamentary Eskom inquiry

Unravelling Gupta links revealed in Parliamentary Eskom inquiry

Journalists Sikhonathi Mantshantsha and Kyle Cowan discuss just how the Guptas and their associates helped capture Eskom.

How to make money through ‘buy-to-let’ (using very little of your own money)

How to make money through ‘buy-to-let’ (using very little of your own money)

Bruce Whitfield interviews Francois Janse van Rensburg, author of “Making Money through Buy-To-Let in South Africa".

An expert guide on 'hotwifing' and 'cuckolding' in the bedroom

An expert guide on 'hotwifing' and 'cuckolding' in the bedroom

Clinical sexologist Dr Eve shares insights into sexual fetishes and how partners negotiate them in their bedroom and relationship.

MTN Walk The Talk with 702: Get your entries in and be part of a united Joburg!

MTN Walk The Talk with 702: Get your entries in and be part of a united Joburg!

Join Joburgers from all walks of life come together peacefully, united in their diversity for a fun family day out.

3 easy questions could bag you R2000!

3 easy questions could bag you R2000!

WIN R2000! But only if you can prove you're a whiz of the MTN Biz Quiz by answering the following three questions...

Blesserfinder: Matching you with a sugar daddy near you

Blesserfinder: Matching you with a sugar daddy near you

Is social trend Blesserfinder, where girls are allegedly matching up with rich 'benefactors' in exchange for sex, a real thing?