Deputy President Paul Mashatile
Business leaders from various European companies stationed in Johannesburg had a chance to discuss their concerns about electricity, logistics, skills development and the long periods attached to business visas in a dialogue with Deputy President Paul Mashatile.
Almost 40 CEOs and senior leadership executives from companies such as AB InBev, Alstom, B Braun, BMW, Bureau Veritas, Engie, Heineken, Interwaste, Siemens, Total Energies, Unilever and Volkswagen attended the event.
The discussion was organised by the French South Africa Chamber of Commerce and Industry (FSACCI) and public affairs consultancy The African Storyteller.
The Presidency said in a statement issued on July 20 that Mashatile had "robust and progressive discussions" with the business leaders and that the dialogue helped to harness expertise on how to advance the economy and create more jobs.
African Storyteller MD Thuli Phiri said it was important for government and business to foster a relationship for the broader benefit of the economy and South Africans.
FSACCI chairperson CEO Dr Yves Guenon added that, for businesses to grow and further contribute to the economy, there needed to be regular engagements with government, as everything that government did had a direct or indirect impact on businesses’ ability to succeed.
Likewise, Mashatile acknowledged that investor confidence was essential for driving economic growth and development and ensuring the nation’s prosperity. He commended big business for their resilience throughout the Covid-19 pandemic and through the enduring low growth cycle.
He assured the business leaders that government was streamlining the regulatory procedures through the Red Tape Reduction Task Team, which was established by the President to reduce excessively complex rules, regulations, procedures and processes that impede economic growth and job creation in key sectors.
Investors from the European Union make up 25% of South Africa’s gross domestic product and 75% of foreign direct investment. The main European investors account for more than 300 000 direct jobs and for more than 1.5-million jobs, including indirect jobs.
The business leaders reiterated their commitment to growing the South African industrial landscape despite the many challenges the country was experiencing, but urged that these issues be addressed and discussed openly. The business leaders also lauded government’s approach to increasingly seek solutions collectively with the private sector.
Mashatile concluded that creating a conducive environment for business to thrive was not a single side's responsibility, but that it required collaboration, partnership and a shared vision.
African Storyteller said another meeting with European investors would be scheduled in the near future.