Tag Archives: Business Unity South Africa

Zuma calls on business to stop fighting

President Jacob Zuma has called for an end to the squabbles that have resulted in a significant division within the country’s business sector subsequent to a recent decision by the Black Management Forum to cut ties with Business Unity South Africa. This has led to divisions, accusations and counter-accusations of racism from both parties.

However , on Tuesday, Zuma while addressing the inaugural Black Business Summit, moved to rein in the warring parties. He emphasised the necessity of unity within business, which he pointed out was critical to the achievement of the goals and objectives of the country.

He said government required a unified and united business voice to work alongside. “We therefore urge you, in your deliberations to debate the matter extensively with a view of finding solutions,” Zuma said.

 

President Jacob Zuma delivers keynote address at the Black Business Summit

 

As reported by Xolani Qubeka, one of several organisers, the summit was “influenced” by the decision by the BMF to withdraw from BUSA.

Zuma pointed out that he had intended to meet up with with BUSA last month however the meeting was later shelved as a result of BUSA’s unavailability at the time.

“Necessary arrangements are going to be made for us to meet. As government, our objective is to see unity … to be able to concentrate on the economic growth and development priorities that face the country,” he said.

He did admit that while politically the country had done well to establish a stable democracy, social and economic elements of transformation continue to lag behind. The impact of poverty and inequality was still glaring and human settlements still exposed the gap between the rich and poor, rural and urban, he said.

Zuma welcomed the attempts by black business to embark on internal dialogue with the intention to evaluate the progress made with the transformation of South Africa’s economy. The black business sector has repeatedly pointed out that a lot still needed to be done to completely transform the country’s economy, arguing that whites still enjoyed a tremendous advantage.

 

Xolani Qubeka Chairperson of Black Business Summit Organizing Task Team

 

A newly released report released by the Commission for Employment Equity unveiled that while black people accounted for about 86% of the employees in the workforce covered by the report, they only represented a mere 16.9% at top management level and 35% at the senior management level.

The report additionally pointed out that despite the fact that considerable progress had been made in creating a critical mass of both black people and women at the professionally qualified level, these groups appear to have “reached a glass ceiling.”

Zuma stated that government needed to makes use of the legislative environment to level economic playing fields, adding that it was in the interest of reconciliation, economic growth and control of the economy.

“We have witnessed the effectiveness of the affirmative action in the manner in which white women and Indian compatriots have benefited… We must draw lessons from that success to boost the empowerment of other designated groups, in particular Africans.”

When it comes to the ownership of the economy, Zuma said while authorities were pleased to see many blacks entering a variety of sectors of the economy, there were no visible “black industrialists.” South Africans were not seeing large factories and mines owned by black people or women.

Zuma told the summit delegates, which included mining magnate Patrice Motsepe and business tycoon Sandile Zungu, that the South African economy needed to create “authentic” black entrepreneurs who own factories and manufacture textile, furniture and metal products.

Source: BuaNews

Business SA cautiously optimistic on 2011 economic outlook

Business Unity South Africa (BUSA) is cautiously optimistic with regards to the economic and business outlook for South Africa in the year ahead.

Despite the fact that financial and economic recovery this past year appears to have been moderate, and is also almost certainly going to fall short of the 3% expected growth rate, in spite of this it looks like the future economic prospects for South Africa local economy in 2011 are much better according to BUSA President Futhi Mtoba.

She has forcasted that South Africa’s overall economy could quite possibly expand by 3.5 percent to 4 percent the coming year, sparked by healthier growth forecasts and predictions for the global economic system, in combination with optimistic local economic trends and development.

BUSA President Futhi Mtoba

According to BUSA, interest rates are most likely going to continue to be low for the majority of 2011.

Even though unemployment will continue to be high, BUSA hopes and anticipates that next year will see the introduction of new net employment creation, albeit on a small scale. Overall, BUSA is convinced the SA economy and climate will most likely be more robust, more prominent and better next year.

BUSA also commented that the debate and discussions regarding the New Growth Path appeared to be an outstanding opportunity and chance for local business and organisations to be able to contribute to and give rise to the vision as well as its implementation.


Regardless of what ambitious higher growth path SA ultimately sets for itself, unfortunately it will never be attainable unless we are able to better address the gaps recognized in our economic performance and system. It is a collective problem, predicament and challenge.

In addition, in order to achieve the expected growth rate, each and every sector will, in addition,  need to take responsibility for its function in our society in these modern times and be held accountable for their actions. The debate and discussions, which will eventually take place in Nedlac and elsewhere on the government’s proposals and recommendations for a higher all inclusive job rich growth and development path for SA, should be informed by cogent along with relevant economic and financial realities.

Source: BuaNews, agbiz.co.za