Business Unity South Africa (Busa) on Friday endorsed government’s imperative to implement economic transformation following a “frank” and “encouraging” engagement with Finance Minister Malusi Gigaba and Deputy Finance Minister Sfiso Buthelezi.
The organisation further committed to exploring strategic partnerships in an effort to realise the “full potential of the South African economy and its people”.
“The objective of the meeting was to explore ways in which Busa and its members could continue to cooperate with government and the National Treasury in order to stabilise and grow a transformed economy on an expedited basis,” Busa CEO Tanya Cohen said in a statement.
The meeting had covered the impact of the recent downgrade in the country’s sovereign credit rating, macroeconomic policy and the efforts being made to accelerate inclusive growth and economic transformation.
In addition, the discussions emphasised the need for consistent and stable macroeconomic policies with a focus on implementation; the necessity of bringing good governance and efficiency to State-owned companies; and the imperative to grow and transform the economy in a sustainable and accelerated manner.
“Together with our Busa members from all sectors of the economy, we look forward to exploring strategic partnerships . . . growing the economy so that business can play a meaningful role in ensuring that we sustainably transform the economy,” Cohen said.