Arising out of the engagement in Nedlac to address the impact of the credit ratings downgrade on the country, Business Unity South Africa (BUSA) today hosted a meeting with the Minister of Finance, Malusi Gigaba and the Deputy Minister Sfiso Buthelezi.
On the agenda were issues such as 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. The objective of the meeting was to explore ways in which BUSA and its members could continue to cooperate with Government and National Treasury in order to stabilise and grow a transformed economy on an expedited basis.
“We had a very frank and encouraging engagement with Minister Gigaba,” says BUSA CEO, Tanya Cohen. “The emphasis of the discussion was on: the need for consistent as well as 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 in a sustainable and accelerated manner – all of which were welcomed”.
BUSA together with its members, is fully committed to exploring strategic partnerships, so as to realise the full potential of the South African economy and its people. BUSA fully endorses the imperative to implement economic transformation, and its role as business, in order to give effect to the objectives of the NDP and in line with Government’s policy framework.
“Together with our BUSA members from all sectors of the economy, we look forward to exploring the strategic partnerships that the Minister referred to, about growing the economy so that business can play a meaningful role in ensuring that we sustainably transform the economy.” stated Cohen