About 140 Chief Executive Officers (CEOs) signed a pledge, last week, to assist Government to accelerate the structural reforms and interventions necessary to drive economic growth and job creation.
CEOs have allocated funding, resources, expertise and capacity towards the B4SA (Business for South Africa) initiative.
Adrian Gore, BUSA vice-president and co-convener of the Partnership, said B4SA, underpins the Government and Business Partnership, initiated in 2023, to tackle some of the country’s most pressing challenges in the areas of energy, transport and logistics, and crime and corruption.
“Its purpose is also to give hope to South Africans by realising the powerful potential that comes from working together to solve our country’s challenges.
Phase 1 of the partnership has demonstrated the power of collaboration, resulting in some significant achievements, most notably in dramatically reducing loadshedding” he said.
At a meeting convened by President Cyril Ramaphosa on 15 August 2024, business leaders renewed their commitment to the partnership, aligned with priorities of the GNU and the 7th administration.
Building on the momentum already achieved, Phase 2 of the Partnership, launched on 1 October 2024, is scaling these efforts with increased resources and a recommitment of the partners to doing what is necessary to achieve more rapid economic growth.
During the launch of Phase 2 on 1 October 2024, Gore said “central to Phase 2, is our shared vision to create a virtuous cycle of growth, jobs and improved narrative and confidence. Continued momentum and commitment could mean we are able to achieve 3.3% GDP growth by the end of 2025. This economic growth can generate around 1 million additional jobs by 2030. Sentiment is crucial because it underpins fundamentals, and the work we are doing to foster a more positive narrative is beginning to yield results.”
Martin Kingston, Chair, B4SA Steering Committee, said “this is a model of collaboration that has gifted us with a blueprint for a new era in the GNU. We are keen that the reforms are implemented with urgency. We are very optimistic about the next phase of the partnership. The achievements of Phase 1 have shown that when we unite with purpose, we can deliver real progress. This partnership is about laying the foundation for long term prosperity and social stability. By focusing on key priorities, we are investing in the future of our country, and there is no time to waste.”
Picture: Supplied