When Nelson Mandela became president of South Africa, nearly 20 years ago, the country was in deep economic trouble and close to bankruptcy after years of international anti-apartheid sanctions.
Plans by Mandela’s ANC party to nationalise the mines and banks were quickly abandoned to avoid driving away the international investors who were needed to avert economic collapse.
But long term the government has failed to slash unemployment, reduce inequality and promote growth.
The overall jobless rate remains at around 25 percent, with youth unemployment much higher.
Critics say the serious economic reforms that were needed were never initiated and the economy is growing far too slowly to bring down unemployment.