How will economy be stabilised? Business Unity SA asks Ramaphosa
The organisation had bemoaned the lack of a comprehensive plan and strategy for dysfunctional and over-indebted state-owned-enterprises.
JOHANNESBURG - Business Unity South Africa (Busa) has urgently demanded details from President Cyril Ramaphosa on how some of the bold plans he announced in his State of the Nation Address would be realised.
The organisation, which represents businesses in the country’s key economic sectors, had bemoaned the lack of a comprehensive plan and strategy for dysfunctional and over-indebted state-owned-enterprises.
Stabilising the country’s dwindling economy which declined by 3.2% in the first quarter of this year was one of Ramaphosa’s pressing priorities.
Busa wanted answers from Ramaphosa and wanted them now.
In a statement, the organisation said they needed to be recognised among business, government, labour and community that the country was in a crisis.
While Busa said it was willing to work with the president in line with his vision of a social compact that would help lift the economy, it would only do so if he took hard decisions and sent unequivocal messages that build investor confidence.
Ramaphosa’s plans for the economy as spelt out in his speech on Thursday night were heavily dependent on the buy-in of business.
He promised the creation of 155,000 jobs in the next five years based on the private sector’s commitment to invest R840 billion in 43 projects across 19 sectors.
Busa also described the president’s Sona as a restatement of the many challenges faced by South Africans, urging him to engage with business in order to establish plans with clear implementation timeframes and milestones.
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(Edited by Mihlali Ntsabo)