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SACCI: Statement by Neren Rau, CEO of South African Chamber of Commerce and Industry, Business Engages with Minister Nene on the Economy (12/09/2014)

Neren Rau
Neren Rau

12th September 2014

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/ MEDIA STATEMENT / The content on this page is not written by Polity.org.za, but is supplied by third parties. This content does not constitute news reporting by Polity.org.za.

The South African Chamber of Commerce and Industry (SACCI) welcomes the commitment by Minister Nhlanhla Nene of the National Treasury to improve business conditions and include the private sector in working towards more efficient public service delivery. Minister Nene briefed the SACCI membership on broad fiscal policy issues on 11 September and was hosted by Discovery. The engagement with the Minister forms an important part of SACCI's continued engagement with Government and Business leaders leading up to the SACCI Annual Convention on 22 and 23 October.

Mr. Vusi Khumalo, Vice President of SACCI, opened the meeting and welcomed all of the guests. “The policy discussion informs South Africa as to where we are heading as a country and as a continent,” said Mr. Khumalo. Mr. Khumalo noted that the various SACCI meetings with Government and Business leaders laid the foundation for the forthcoming SACCI Annual Convention.

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Minister Nene started the briefing by noting that although the global economy continues to strengthen, there is uneven growth and downside risks. South Africa’s government finances are in a tough position due to rising international interest rates, amongst others. “The fiscal space has been eroded by growing debt, but we seek to seek to stabilize this growth. The paramount concern at the moment is saving,” said Minister Nene. He turned to South Africa’s domestic conditions and their impact on the private sector. “The key challenge is largely domestic and within our control on the supply side,” alluding to the severe effect industrial action in mining and manufacturing has had on South Africa’s economic growth trajectory. Despite the concerns, there are specific plans to address them. “Government is working hard to improve business conditions not only on the supply side but also on policy alignment and policy certainty. Partnership with business in public service delivery can have more efficient results than departments working in isolation.” The Minister urged Business to join Government to make the NDP work.

Mr. Adrian Gore, CEO of Discovery, thanked the Minister for his participation and talked to the general issues facing South African Business. “We live in complex times with substantial geopolitical change,” said Mr. Gore. “South Africa has a fragile growth. We have challenges but also opportunities. Business must be excellent and has a massive role to play.”

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SACCI is proud to have hosted Minister Nene and looks forward to work with Government in order to support the implementation of the NDP.

Issued by SACCI

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