BLSA’s CEO has expressed the need for a rebuilding of business confidence for South Africa, and for government not to lose momentum in creating economic investment and growth.
In a column published on Monday, 16 August 2021, Business Leadership South Africa’s Chief Executive Officer (CEO), Busi Mavuso addressed the need for securing the nation and focusing on reforms to rebuild confidence. This is in light of the July protests, which she described as a week where R50 billion was wiped off the country’s gross domestic product (GDP) as looting and fires flared in parts of KwaZulu-Natal (KZN) and Gauteng.
Mavuso noted that this week reflected the first bits of economic data from the month of July, with the South African Chamber of Commerce and Industry (SACCI) revealing that business confidence had fallen to its lowest level since October 2020. She also stated that in June, manufacturing output had fallen on a monthly basis for the third consecutive month, according to Statistics South Africa. Moreover, while the decline was a moderate 0.7 percent, it highlighted the fragile state of the economic rebound ahead of the social unrest and looting.
Mavuso further pointed out that the job of rebuilding confidence in South Africa has become more difficult for the government, and that the only solution is to not lose momentum in creating investment, growth and job creation.
See the post below.
Ensuring the security of everyday South Africans and businesses both big and small as they go about their daily lives is critical to get our rebound back on course, writes @BusiMavuso2 in @fin24. https://t.co/fn5loK5Vcy
— Business Leadership South Africa (@BLSA_Official) August 17, 2021
