Industry bodies throughout South Africa have welcomed Jacob Zuma’s decision to step down as President.

The South African Chamber of Commerce and Industry (Sacci) on Thursday said it applauded Zuma’s remarks where he reaffirmed and pledged his commitment to the Constitution and the rule of law, and further urged his supporters not to engage in divisive or violent actions in his name.
 
“The dignity with which he handled his resignation should be commended as it was yet again a masterclass display in constitutional democracy with which South Africa has become synonymous and continues to give to Africa and the world,” Sacci added.
 
The National African Federated Chamber of Commerce and Industry, meanwhile, described Zuma’s decision to step down “as a relief in a situation that was bordering on social and political paralysis”.

“He has demonstrated that despite his misgivings and disagreement with the decision of [the] governing party which deployed him, he has placed the interests of the country above his own,” the organisation said in a statement.
 
Brand South Africa welcomed the political certainty that was expected to follow Zuma’s resignation.
 
“We have full confidence in the new leadership of the ruling party, as well as our institutions, to take the country forward,” Brand South Africa CEO Dr Kingsley Makhubela stated.

Meanwhile, Steel and Engineering Industries Federation of Southern Africa (Seifsa) CEO Kaizer Nyatsumba said that, under the Zuma administration, the South African economy was stunted and thousands of jobs were lost across many sectors.

“Corruption became pervasive and the country suffered multiple sovereign credit ratings downgrades,” he noted.

Nyatsumba congratulated the African National Congress leadership for its eventual decisive handling of the impasse surrounding Zuma this week, adding the ongoing stalemate had not been in the country’s best interest.

Also welcoming Zuma’s decision to step down, North-West University School of Business and Governance Professor Raymond Parsons said policy certainty now needs to be restored to the economy.

“This could be cumulative, just as its decline has been, and therefore beginning the process through political change is half the battle,” he noted.

Parsons added that the change in the top leadership of government will create the prospect of higher economic growth and employment, supported by policies which are growth-oriented, rather than patronage-driven.

“The resignation of Zuma and the accession of Cyril Ramaphosa to the Presidency now paves the way for better economic prospects. It marks the end of a period of political and policy uncertainty in which the country sacrificed considerable potential growth.”