SA’s govt business partnership raises stakes

Phase two of the Government Business Partnership was launched on October 1, 2024.

The transformative initiative aims to advance South Africa’s path toward sustainable, inclusive economic growth and job creation, through increased investment and more positive sentiment.

President Cyril Ramaphosa said the partnership with business had played an essential role in supporting and accelerating the agenda for growth and jobs.

He recognised the support of over 140 of South Africa’s leading chief executive officers (CEOs), who renewed their commitment to the Government Business Partnership, building on the momentum already achieved in the first phase.

The CEO Pledge underpins this groundbreaking partnership, initiated in 2023 to tackle some of the country’s most pressing challenges in energy, transport and logistics, as well as crime and corruption.

Business, through Business for South Africa (B4SA), is committed to a new era of collaboration with the government of national unity (GNU) and the 7th Administration. Thus far, it has contributed more than R250 million in catalytic funding towards the partnership — assigning more than 350 experts across the three focal areas.

The private sector has also invested R700 million and deployed over 500 security personnel to protect key rail corridors. Organised business has contributed over 9 000 hours of expertise to Eskom and invested R57 million to establish a forensic analysis centre to assist the Hawks in investigating priority crimes, as required to remove the country from the Financial Action Task Force (FATF) grey list. — Mo neyweb.

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