Business Unity South Africa (Busa) is part of the South African delegation, led by President Cyril Ramaphosa and the Department of Trade and Industry, attending the Group of Seven (G7) Summit, in Canada.
The business delegation will participate in a G7 roundtable, where they will focus on promoting business with South Africa, with an emphasis on the mining and financial sectors.
“Business recognises the growth and transformation imperative, which were also identified by Ramaphosa in his State of the Nation Address. South Africa needs to attract more global players into the economy to achieve meaningful, inclusive growth and transformation. The two are mutually reinforcing,” Busa CEO Tanya Cohen said in a statement on Thursday.
The change in political and executive leadership has resulted in greater stability and an investment-friendly approach, which should be well received, she noted.
“South Africa’s attendance is significant because this is the first time the country has been invited to a G7 event in seven years,” Cohen pointed out.
The G7 comprises an elite group of countries, including Canada, Japan, Germany, the US, the UK, France and Italy, whose collective gross domestic product make up more than 60% of the global economy.