11/09/2017 | By Admin
Last month, business made its voice heard with a clear and simple message: Business Believes in South Africa.
In Alexandra, we launched a “Contract with South Africa” to demonstrate how we, too, want inclusive growth and transformation.
Central to that contract is our commitment to create jobs.
Research reveals South Africans are deeply pessimistic, with lack of access to jobs, poverty, corruption and nepotism amongst key concerns. Many of the nine million South Africans without work think it’s virtually impossible to get a job, and partly blame it on rife corruption. And they think the jobs of the 16 million employed are poorly paid.
This leads to huge disillusionment, with both business and government in the line of fire. However, business is seen as effective at creating and providing access to jobs, in contrast with the nepotism often associated with government jobs.
We need growth of over 3% per annum on average. The current under-1% levels just don’t cut it.
When business and Cosatu leaders met in June, we concluded urgent action is necessary to end unemployment, poverty and inequality. That dialogue identified a growth and transformation agenda:
That meeting also highlighted the effect of corruption and “state capture”:
We now need:
A new period of dynamism now hinges on the success of South Africans effectively defeating “state capture” in its entirety. Once this has been achieved, business can set about joining our partners in creating millions of jobs.
Colin Coleman is a Partner Managing Director, Goldman Sachs International and a Board Member of Business Leadership SA
Published in Business Times, Sunday Times (10 September 2017)
View article here.
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