Phuti Mosomane
Deputy President Paul Mashatile urged the business community to collaborate with the government in creating an environment conducive for investor confidence and economic growth.
Mashatile was on Tuesday addressing the African United Business Confederation in Bryanston Country Club, Sandton, Gauteng Province.
He said to build the South African economy, leaders from all sectors, including business, politics, Government, and civil society, must work together.
“We must collaborate, with each playing a distinctive part, to generate employment and boost trade investment between our nation, the continent and the world. Our roles are all important, and if one lags behind, it will affect the growth of our economy,” he said, adding that it is the duty of political leaders in Government to formulate policies that promote an environment conducive to economic growth.
This is because, Mashatile said, effective economic policies can stimulate innovation, promote entrepreneurship, and drive innovation.
South Africa’s journey to freedom and democracy illustrates the results of leaders who collaborated for the greater good, he said.
Since the advent of democracy, Mashatile continued, in an effort to attract investments, the government has created political stability by promoting free and fair elections, which he promised that “will continue to be the case in the upcoming election on 29 May 2024.”
He said a stable political environment is critical for investor confidence and economic growth.
“Your responsibility as a leader in the private sector is to foster entrepreneurship and innovation, both of which are vital to economic expansion and job creation.
“Furthermore, the private sector is key to enhancing the competitiveness of the South African economy. Together, as leaders, we possess the foresight to identify opportunities, mitigate risks, and make strategic decisions that drive sustainable economic development”.
Despite attaining political freedom and substantial advancements since 1994, Mashatile acknowledged that South Africa is yet to realise economic freedom and an economy that adequately provides for the majority of its populace.
“As present-day leaders across various sectors of our society, we must set aside our differences and concentrate on fully rousing the potential of South Africa’s economy,” he added.
He told delegates that both government and business must proactively address socio-economic challenges such as high unemployment, poverty, inequality, and corruption. While agreeing with what Deputy Chairperson of the Public Service Commission (PSC) Prof. Somadoda Fikeni once said; “Corruption is the biggest threat to SA’s democracy”, he said
To reach the goal of ending poverty and boosting economic growth set out in the National Development Plan (NDP), he said all partners must all work together to fight corruption and support accountability, openness, and good government.
“Indeed, this fight against corruption should be multifaceted, involving both the public and private sectors. We have to strengthen anti-corruption partnerships, intensify efforts, and promote a zero-tolerance approach to corruption led by capable leaders, who are resilient, highly adaptable and are willing to implement bold reforms to surmount our challenges and transform the economy”.
INSIDE POLITICS
