The South African Government and the nation’s organized business sector have embarked on a joint partnership initiative to promote inclusive economic growth and job creation in the country. The partnership aims to address the key challenges and capitalize on South Africa’s untapped potential.
The partnership will focus on three immediate priority areas: energy, transport and logistics, and crime and corruption. The government and the business sector intend to work together to find practical solutions for South Africa’s economic recovery.
The partnership builds on the success of previous undertakings, such as the successful COVID-19 response, where the government and the business sector collaborated on implementing a nationwide vaccine rollout. South African President Cyril Ramaphosa expressed optimism about the partnership, noting that it demonstrates a shared determination to overcome current challenges and mobilize the nation’s resources towards achieving sustainable, inclusive growth.
The collaboration between the government and the business sector will be led by Business Unity South Africa (BUSA). CEOs of South Africa’s largest companies across various sectors have come together in a coordinated and committed manner to achieve South Africa’s vast potential and secure a brighter future for all citizens.
The cooperation between the government and the business sector will be managed through three priority workstreams led by Business for South Africa (B4SA), the implementation platform for BUSA. These workstreams are focused on energy, transport and logistics, and crime and corruption.
In the energy sector, the National Energy Crisis Committee (NECOM) will work collaboratively with businesses to end load shedding and achieve energy security. This will involve closing the current energy capacity gap and building confidence in restoring energy security.
In the transport and logistics sector, efforts will be made to stabilize and improve operational performance on key trade corridors, mobilize private sector resources, and accelerate the implementation of the National Rail Policy.
The fight against crime and corruption will be aided by the establishment of the Joint Initiative to Fight Crime and Corruption (JICC), which will serve as the delivery mechanism to implement related interventions.
Martin Kingston, chair of the B4SA steering committee, expressed confidence in the partnership’s ability to deliver critical recovery efforts. He stated that the collaboration between the government and organized business will result in practical solutions for South Africa’s economic recovery.
The partnership’s workstream priorities will be continually reassessed and reprioritized, with potential for additional focus areas such as water and infrastructure to be included in the future. Success in these priority areas is expected to create an environment that fosters economic growth and job creation.
As a result of this partnership, South African business leaders are committing their considerable skills and resources to addressing the country’s priorities. According to Cas Coovadia, BUSA’s CEO, success in this collaboration will lead to a significant impact on GDP growth, job creation, and the restoration of confidence among all stakeholders.
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