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BLSA stresses need for implementation after credit rating downgrade

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The latest weekly newsletter by BLSA focuses on the importance of implementing various plans to recover the country’s economy, following the recent downgrade to full junk status.

Business Leadership South Africa’s (BLSA) Chief Executive Officer (CEO), Busi Mavuso took to Twitter on Monday, 23 November 2020, to circulate her weekly newsletter. The newsletter focuses on the recent announcement of the country being downgraded to full junk status by credit rating agencies, Moody’s and Fitch.

Mavuso stressed the importance of implementing the plans set out to recover the economy, in order to boost investor confidence in the country. In the newsletter, Mavuso claimed that the state often formulates sound plans but fails to see them through.

The newsletter read, “Initiatives such as Business for South Africa’s #PayIn30 campaign, where more than 50 big businesses have signed up to pay small business suppliers within 30 days, are crucial. We need a healthy and successful small businesses sector. The high number of small businesses makes them the best positioned to meaningfully dent our rising unemployment rate. If each small business is able to hire just one extra employee, that immediately makes an impact.”

See the post below.

Sabelo Makhubo
s.makhubo@politicalanalysis.co.za

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