By: Black Business Council 

The Black Business Council (BBC) would like to congratulate South Africa’s Deputy President Mr Cyril Ramaphosa as the newly elected President of the African National Congress (ANC) and calls him to dedicate his term on implimenation of policies in general and Socio-Economic Transformation policies in general.

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“the BBC is following closely on the policy discussions and is looking forward to engaging with both the new ANC leadership and the government on policy resolutions that will be taken by the conference. The BBC would advise the new leadership to put a concerted effort in the thorough implementation of policies including monitoring and evaluation. We further congratulate the ruling party for a peaceful democratic process” – said The BBC CEO, Kganki Matabane

The BBC Secretary General, Mr. George Sebulela says “the BBC calls on business, labour and community to work together with the newly elected leadership of the ANC following the conclusion of their elective conference. We also wish the new President all the best as he has to shift gears to engage the tough headwinds that he’s faced with on improving business confidence and navigating fiscal constraints following SA’s recent sovereign downgrade. We are positive that the new leadership will contribute hugely to creating an environment that is conducive for Radical Socio-Economic Transformation and job creation in the country to tackle the trible challenges of poverty,inequality and  unemployment.”

The BBC is very much aware that there are no quick fixes to our economic challenges. As such, we remain as committed as ever to ensure that South Africa’s economy gets on a stronger, sustainable and inclusive growth path. Fiscal prudence and policy certainty, the integrity of our institutions and a clear vision for the long-term sustainability of our country are critical to maintaining our investment-grade status. Socio-economic transformation remains the centre from which economic growth will spring from.

Mr. Sebulela added “we need to address the structure of the economy if we want to tackle these high unemployment rates. The approach to structural reform needs to be holistic and comprehensively gearing the ecosystem towards accelerated transformation. We further need to take a hard look at our SOC’s leadership to promote transparency, strong corporate governance and rigourous accountability through which corruption can be rooted out. On these pillars the SOCs can be the greatest catalyst to driving Radical Socio-Economic Transformation and develop a vibrant SME industry across all secotors, focusing on developing new black industrialists”


“The Black Business Council will continue to engage the Presidency and National Treasury to tackle prohibiting policies such as the PPPFA which is still not benefiting the intended benefitiaries including black and black women businesses including the youth. We expect the new President to ensure that the economy is sufficiently transformed in all sectors of the economy with concrete plans that will move the country to jobs-creating  economic growth of 5% and more” added Mr. Matabane

“We need to work together to avert further downgrades that is befitting of our ambitions for a better tomorrow. To this end, we anticipate conintued prudence and the strengthening of oversight to stop leakage at stressed SOCs so they can play their catalytic role in the economy and not be a strain on the fiscus. We would also like to see tightening of regulations to deal decisively with private sector fraud and corruption.” concludes Mr. Sebulela.