Business leaders ready to help rebuild economy after violence, looting
Business leaders from industries affected by the recent violence have reaffirmed their commitment to work with government and rebuild South Africa’s economy.
The more than 90 business leaders from various sectors including retail, agriculture, automotive, telecommunications, banking and transport met with President Cyril Ramaphosa following the recent unrest, violence and looting in parts of Gauteng and KwaZuluNatal.
The lootings affected businesses and livelihoods, with government warning that 150 000 jobs may be at risk.
The president’s spokesperson Tyrone Seale says the meeting reflected on the challenges faced by key industries and discussed measures that need to be taken to rebuild.
“Business made practical suggestions for immediate recovery steps, support to small businesses and longer term inclusive economic growth. The President outlined government’s priorities, including the restoration and maintenance of stability with the increased deployment of security personnel; securing essential supplies by opening critical supply routes; provision of relief and support for rebuilding; and accelerating inclusive economic recovery,” says Seale.
The meeting held on Tuesday afternoon also emphasized the importance of focusing on rural and township economies and increased investment in infrastructure development.
“The meeting also discussed steps to assist companies, particularly small businesses, to claim insurance and access other support. The meeting agreed on the need to work with greater urgency to tackle poverty and unemployment and improve the living conditions of all South Africans. Among other things, this required a common effort to mobilise investment, develop appropriate skills and create opportunities for young people in particular.”
He adds that Ramaphosa welcomed the proposals raised by business leaders and their commitment to work with government to transform the economy.
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