Johannesburg - South African President Kgalema Motlanthe warned Friday that the global financial crisis posed a serious threat to jobs in Africa's largest economy, where manufacturing and mining have shed thousands of jobs in recent months.
Delivering the president's annual State of the Nation speech at the opening of parliament in Cape Town, Motlanthe warned South Africans against underestimating the local fallout of recession in leading markets.
"The global economic meltdown does pose serious dangers for our economy, in terms of job losses and the quality of life of our people," he said.