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BUSA CEO believes structural interventions could save SA from unemployment crisis

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The BUSA CEO has highlighted the need for the government to make structural interventions and changes, in order to address and combat the current unemployment crisis.

On Wednesday, 25 August 2021, the Business Unity South Africa (BUSA) Chief Executive Officer (CEO), Cas Coovadia issued a statement in response to the latest unemployment statistics by Statistics South Africa (StatsSA). Coovadia stated that the latest unemployment rate has emphasised the severe crisis the country is facing, noting that BUSA has consistently indicated this and that South Africa is at the precipice of a cliff.

The CEO expressed that BUSA has always been clear in its engagement with the government and other social partners, that the only sustainable way to address unemployment is to allow businesses to grow and be profitable. Further, that this requires an environment in which businesses are confident to make long-term job-creating investments.

Coovadia also pointed out that BUSA has consistently indicated to the government that it needs to make structural interventions in the economy to attract investment, making it easier for businesses to start, grow and employ people. Some of these interventions would need to include changes to labour regulations, policy certainty, political stability, rule of law and security, releasing spectrum, and moving quickly towards renewable energy. BUSA noted that it is ready to work with the government to promote businesses to swiftly address the crisis.

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