Economic growth encouraged at business breakfast

Roshan Morar, Jyoti Morar, Vivian Reddy, Melanie Veness, Dr Zweli Mhkize, and Finance Minister Nhlanhla Nene at the Morar Incorporated business breakfast.

South Africa is on the brink of a new economic dawn, according to Finance Minister Nhlanhla Nene, who spoke at a business breakfast hosted by accounting firm Morar Incorporated at the Imperial Hotel on Saturday.
Nene emphasised the need for the country to reach its potential. “Part of the initiative to increase the economic growth in South Africa is to reflect on our mistakes and realize our potential,” said Nene.
He added that citizens need to remain confident. “Despite the numerous economic challenges, citizens must remain optimistic. There is confidence. In order to sustain the confidence, we need to work harder. South African has the potential to grow faster. Rebounding confidence and replacement investment has risen to the opportunity for improvement in growth,” said Nene.

Minister Nene, Comfort Ngidi, Minister Mkhize and Mrs Mkhize interact with stakeholders.

An emphasis was placed on encouraging small business development and a call was made on the banking sector on what financial provisions are made for starter business owners.
Nene said that, with the decline of small businesses, government is now committed to addressing renewed efforts to remove uncertainty and commit to the implementation of structural reforms. These reforms are to raise employment through economic growth. He called municipalities the role-players in ensuring local businesses can grow so that young people, particularly graduates seeking jobs, will be able to find decent employment. Nene called on all citizens to look for opportunities that could transform into their own business ventures. He made a commitment that government has a one million job target within the next three years.

Stakeholders at the New Dawn business breakfast

Co-operartive Governance and the Department of Traditional Affairs (Cogta) Minister, Dr Zweli Mkhize, said Cogta had the last word when appointing municipal managers and chief financial officers. “You need qualified people if you want your institutions to be successful. People who resign from one municipality and appear to work in another, too far away from the other one they resigned at, holding the same job title, higher position, we not going to allow that,” said Mkhize.
He added that municipalities have two priorities. The first is service delivery and the second is creating a good environment for investment in businesses.
Mkhize further said that there is money to fund small businesses but they need to do work with big businesses and government.
Nene, Mkhize, and CEO of Pietermaritzburg Chamber of Commerce, Melanie Veness, answered questions posed by business owners and the public. They encouraged the community to support local businesses. Veness said citizens must make the effort to fix what makes them unhappy. “We must work towards a common plan as businesses, and then we will see results,” she said.

  AUTHOR
Keroshini Paltu, Shorne Bennie, Slindile Dube

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