Nina Bambeni | nina@radioislam.co.za
13 September 2023 | 17:00 CAT
1 min read

Photo Credit: Sowetan Live

In an interview with Radio Islam International, Songezo Zibi explained that South Africans paid close to R27 billion monthly interest on the national debt. An estimated R6-700 billion is owed by state-owned companies to investors and banks that the government guarantees. 

Zibi said that this situation is due to years of reckless spending, corruption and mismanagement of the economy by the government. He added that as ordinary South Africans, we must pressure the government to protect the less privileged during this financial crisis and consider reprioritising expenditure. 

Zibi opined that the government is shying away from this matter because of fear of accountability. Rise Mzansi has started holding the government accountable for all unnecessary expenses, putting our country deep into debt. 

Listen to the full interview on Sabahul Muslim with Sulaimaan Ravat and guest Songezo Zibi of RiseMzansi here.