Standard Bank South Africa CEO Lungisa Fuzile said CEOs and private companies are stepping up to help the government for the benefit of South Africa and not to help the ruling ANC get re-elected.
Fuzile was speaking during a media briefing from CEOs of major South African companies that are engaging with the government to reverse the downward trajectory the country is currently on.
This follows a pledge from 115 CEOs of major South African companies to help the government reverse the downward trajectory the country is currently on.
This pledge is a business-led initiative to assist the government in getting the economy back on track and fixing the country’s energy, logistics, and security problems.
The initiative comes as South Africa faces crippling power cuts, a deteriorating freight rail capacity, and a growing threat from criminal groups that have laid siege to public infrastructure.
President Cyril Ramaphosa, cabinet members and senior business leaders met on Tuesday to discuss their progress in tackling the country’s three major issues.
When asked if the government would manipulate the help offered by businesses to ensure the ANC wins the election next year, Fuzile clarified the private sector’s priorities.
Fuzile said businesses are unashamedly engaging with the government to help capacitate its institutions to benefit South Africans, not the ruling party.
For the CEOs, it does not matter if the ruling party manipulates the private sector’s help to win an election or takes responsibility for turning the country around as long as South Africa’s situation improves.
Even if a different government comes into power next year, Fuzile said business would unashamedly help that government improve South Africa’s situation.
Business Unity South Africa CEO Cas Coovadia agreed and said the meeting was more fruitful than previous interactions between the government and business.
Coovadia said the ministers present engaged more deeply than previously and provided positive feedback on the progress business and government are making together.
However, he warned that South Africans should not place high expectations on progress being made in leaps and bounds as there is still a major lack of trust between the government and businesses.