Busa, BBC to collaborate on mutual economic interests

7th August 2019 By: Marleny Arnoldi - Deputy Editor Online

Business Unity South Africa (Busa) and the Black Business Council (BBC) have signed a cooperation framework agreement to strengthen collaboration on specific areas of interest and develop a closer working relationship.

The organisations have the overall objective to ensure a united business approach towards inclusive growth and socioeconomic transformation.

Busa and the BBC will collaborate on broad-based black economic empowerment and socioeconomic transformation; small, medium-sized and microenterprise development; infrastructure development; and the Fourth Industrial Revolution.

The organisations consider these to be the most pressing challenges facing the country.

The agreement allows BBC to participate in the National Economic Development and Labour Council, since Busa is a member.

“The agreement will also enable business to speak with one voice on business matters. The agreement is timely as the country is crying for leadership on economic matters and the BBC and Busa should rise to the equation and take leadership,” said BBC CEO Kganki Matabane.

The organisations agreed on the negative impact of corruption and State capture on the economy and the functioning of the State and would, therefore, play an active role in working with stakeholders to rebuild institutions and governance destroyed under the previous administration.

In addition, Busa and the BBC have agreed to a code of conduct; a communication and reporting protocol; and to collaborate on platforms such as the BBC Black Business Summit and the Busa Business Economic Indaba, the Investment Summit and other business forums.

The framework agreement will be implemented through the four-a-side steering committee, with a working group on each of the four areas of focus.