In a country with 11 official languages, the language barrier is hard enough. Please find a glossary of some key terms we think are important:
Private Sector: The part of the economy that is owned and operated by individuals or private companies rather than by the government. It includes businesses and industries involved in producing goods and services for profit.
The National Government: In South Africa, the national government refers to the central authority responsible for governing the entire country. It is headed by the President and consists of various ministries and departments that handle national-level issues. These include issues such as defence, foreign affairs, and national economic policies.
Provincial & Local Government: South Africa is divided into nine provinces, with each having its own provincial government responsible for managing and overseeing matters within its boundaries. Local governments, on the other hand, are responsible for governing municipalities, cities, and towns within a province. They handle local-level issues like housing, sanitation, and local infrastructure.
Land Reform: Land reform in South Africa refers to the process of addressing historical land ownership imbalances due to apartheid and colonialism. Its goal is to provide access to land for landless or marginalised communities and to promote social and economic justice.
Land Expropriation: Land expropriation is the process of the government taking privately-owned land for public use. This is done to address specific issues, such as infrastructure development or land redistribution, but the landowner is usually compensated for the expropriated land.
Land Expropriation without Compensation: This concept emerged in the South African political landscape and involves the government taking privately-owned land without providing monetary compensation to the landowner. The purpose is to accelerate land reform and address historical injustices in land ownership.
Nationalisation: Nationalisation refers to the transfer of privately-owned assets or industries into public ownership under the control of the government. In South Africa, debates about nationalisation have revolved around industries like mining and banks, with some political groups advocating for the state to have more control over strategic sectors of the economy.
Social Grants: Financial support from the South African government to help vulnerable individuals and families in need, including child support, pensions for the elderly, disability assistance, and more.
Tax Incentives: Measures introduced by the government to encourage specific behaviours or investments in the economy, often involving tax deductions, credits, or reduced tax rates to promote growth, investment, and certain industries.
Free Market Policies: Economic principles that advocate minimal government intervention in the economy, allowing businesses and individuals to freely buy, sell, and produce goods and services. The forces of supply and demand determine prices and resource allocation, promoting competition and efficiency.
It goes without saying that there are an endless amount of key terms and political jargon worth learning. This is just the tip of the ice-berg aimed at guiding you into basic discussions.