- Economy most pressing task
- Credible Cabinet key
- Structured engagement crucial
Business Unity South Africa (BUSA) congratulates the IEC, election observers and the justice cluster for ensuring a free, fair and credible election. BUSA wishes the ANC and its leadership well on the party’s electoral victory and acknowledges all the other parties who contested the sixth general election.
BUSA wishes to acknowledge the millions of South Africans who exercised their right to vote and commends the media for its coverage of the poll.
Economy and Cabinet
As the sixth democratically elected administration prepares to tackle its five-year mandate, BUSA considers the economy to be the most pressing task, requiring urgent action. South Africa’s growth rate remains low, its unemployment high, its investment levels inadequate relative to peer countries and its public finances a source of concern.
An aligned, focused, compact and capable Cabinet will enable speedier decision making and implementation to address the country’s economic challenges. Cabinet ministers, directors-general and other key staff in the economic and justice clusters need to be appointed on the basis of competence, capability, experience and integrity. These capabilities will be critical to oversee an economic turnaround and ensuring justice is served in the quest to combat corruption.
Investors require key interventions, including: swift implementation of comprehensive reform of state-owned entities, with Eskom at the top of the list; addressing public finances, particularly the fiscal deficit and rising public debt; eliminating barriers to investment by ensuring policy certainty; and addressing the low economic growth rate.
Business stands ready to partner with the newly elected administration. BUSA believes it is imperative that there be a structured engagement mechanism to drive forward the key priorities for investment, growth, employment and social compacting.
BUSA will be seeking an early engagement with the incoming administration to discuss these issues and how to form a partnership to achieve the collective objectives of inclusive growth.