South Africa: Mangaung Crucial for SA Economy - BUSA

Photo: Presidency
President Jacob Zuma.

Johannesburg — Policy decisions made by the ANC during its national conference in Mangaung can prevent the country's economy from declining, Business Unity SA (Busa) said on Monday.

"Busa sees the forthcoming ANC... conference in Mangaung as a crucial one for South Africa from the point of view of political leadership and policy certainty," it said in a statement.

"A clear affirmation of policy direction from the conference could do much to help build a South African economy which is bigger, stronger, and better in the years ahead."

South Africa had experienced "significant domestic developments" which had affected the country's economic outlook and confidence.

If these developments were not taken into account at the conference, the country would no longer be able to withstand the worst effects of the global financial crisis.

"In order to help meet SA's pressing socio-economic challenges, the Mangaung conference needs to take in key decisions that will boost investor confidence needed to underpin higher growth and employment," it said.

"Busa believes that South Africa's perceived economic decline can only be arrested if a firm policy basis is forged at Mangaung to find real solutions to the structural socio-economic challenges facing South Africa."

African National Congress secretary-general Gwede Mantashe wrote in this week's Sunday Times that the party's vision for economic growth would take "centre stage" at the conference.

Crucial issues, such as the nationalisation of mines and land redistribution, would be debated.

Mantashe wrote on nationalisation: "It is true that any further uncertainty on this matter will affect our ability to attract more investment to the country.

"While investor sentiment cannot dictate economic policy, uncertainty is not to be encouraged if we are serious about partnering locally and globally to build the economy that will aid us to tackle the challenges we all know about."

The conference will be held from Sunday.

Ads by Google

Copyright © 2012 South African Press Association. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 2,000 reports a day from more than 130 news organizations and over 200 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.

InFocus

South Africa: Zuma Still Ruling Party Leader

President Jacob Zuma.

President Jacob Zuma has won a second term as the leader of the ruling African National Congress at the party's conference in Mangaung. His running mate Cyril Ramaphosa is the ... Read more »