Ramaphosa meets with CEOs amid growing angst
and his cabinet met with business leaders as concern over the country’s energy crisis, logistic constraints and close ties with Russia grow.
Attendees discussed collaborating to obtain inclusive growth, inspire confidence in the economy and create jobs, the presidency said in a Twitter post. Five years after Ramaphosa ushered in a wave of business optimism that he’d revive the economy crippled by industrial-scale corruption under his predecessor, executives are running out of patience with the president, who is seeking reelection next year.Economic stagnation stoked by record daily power cuts, rampant crime, disintegrating infrastructure and foreign policy missteps is leading investors to the exits.
Executives including Daniel Mminele, Nedbank Group’s chairman, and MTN Group CEO Ralph Mupita have called for urgency in resolving domestic hindrances to economic growth and warned the country is at risk of becoming a failed state. Others such as FirstRand CEO Alan Pullinger have criticised the country’s relationship with Russia. The government’s indifference to the war in Ukraine and its friendship with Russia is “foolhardy in the extreme”, he said. —
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Business activity in South Africa falls to almost two-year low - TechCentralPrivate sector economic activity contracted for a third consecutive month in May, a survey showed on Monday.
Read more »
Altostratus Africa migrates Kenyan businesses to Google Workspace - TechCentralPromoted | Digicloud Africa partner Altostratus Africa Limited is helping Kenyan businesses migrate to Google Workspace.
Read more »
Commission approves Reunert deal to buy IQbusiness - TechCentralThe Competition Commission has approved Reunert’s acquisition of management and technology consulting firm IQbusiness.
Read more »
Feud erupts over memecoins swarming bitcoin blockchain - TechCentralThe coders who maintain bitcoin’s blockchain are clashing over whether to stamp out the memecoins swarming the network.
Read more »
Big US telcos 'not in talks' with Amazon over mobile service - TechCentralMajor US wireless carriers have denied they in talks with Amazon to offer low-cost wireless services to its Prime members.
Read more »