LETTER: Newcastle Business Unity responds to Cabinet reshuffle

Madam – Letter from the Newcastle Business Unity (NBU).

South Africa has just escaped from a full recession and only recorded 0.5% GDP growth in 2016.

The private sector believed that 2017 would be the turn as the business confidence index improved and the exchange rates of Rand also improved to its best in 17 months.

The decision of the President of the nation to recall the Minister of Finance and his Deputy from an important roadshow to meet foreign investors, and his announcement of the cabinet reshuffle has really affected business confidence and has already seen a fall in the Rand and downgrade of South Africa to junk status.

The outcries from his decision were not only within the ruling party but includes all the opposition parties, civil society, academics and the business sector.

People find the new cabinet list absurd simply because those underperforming ministers close to the President still remain or are redeployed to other ministries, and some ministers who delivered good results and were trusted, were axed.

The new list was based on personal preferences of the President to protect his own interest instead of focusing on national interests.

Businesses can strive and prosper only in a politically stable environment. We face competition from international and national level and must comply with many regulations imposed by our government departments.

We are expected to pay taxes and levies to national and local government and to create more jobs to sustain the growth of our country. The last thing we as business would expect from the government is a homemade crisis caused by the self-interest of the President.

The Newcastle NBU urges the ruling party to clean up its house to ensure that confidence in our country is restored so that existing business and new investors can continue to contribute to the future of our beautiful country.

Newcastle Business Unity

For more letters to the Editor, click here.

Reveshni Moodley

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