Johannesburg, 7 May 2019 – Political stability, policy certainty, economic growth as well as reliable and uninterrupted power supply are some of the most important items that should feature prominently on the list of the winning political party’s agenda, Steel and Engineering Industries Federation of Southern Africa (SEIFSA) CEO Kaizer Nyatsumba said today.
Speaking ahead of tomorrow’s elections, Mr Nyatsumba said given the tough economic conditions that South Africa currently finds itself in, it is of paramount importance that the winning political party prioritizes economic growth, which would in turn contribute towards reversing social ills that are a direct result of stagnation, such as high unemployment rates, poverty and crime.
“Political stability and policy certainty are a pre-requisite for any country’s economic growth. In South Africa, political stability can ignite economic growth and generate much-needed employment, especially for the millions of young people who are neither in education nor employment,” Mr Nyatsumba said.
He added that for economic growth to happen, South Africa needs to ensure that there is also policy certainty and coherence as well as solid infrastructure, such as reliable and uninterrupted power supply. He said he was hopeful that the new administration would also tackle rampant corruption and maladministration, which would in turn boost investor confidence and improve South Africa’s credit ratings.
On the metals and engineering sector, Mr Nyatsumba said as a Federation representing companies operating in this crucial sector, SEIFSA calls upon the winning party or parties to be effective in implementing and monitoring designation of local content in production processes across all value chains.
He also called on the new administration to prioritise local businesses in all investment and construction projects, including Black Economic Empowerment partners in order to comply with South African rules designed to address racial disparities which continue to exist more than two decades after the end of apartheid
Mr Nyatsumba also called on all eligible South Africans to ensure that they exercise their right to vote in this election. He said that an election was a very concrete demonstration of the fact that power comes from ordinary citizens, to whom elected officials should always be accountable.
In conclusion, Mr Nyatsumba said SEIFSA stands ready to work hand in hand with the new administration in rebuilding South Africa’s economy and creating much-needed jobs.
“We remain committed to reversing the economic fortunes of our beloved country and are eager to engage robustly with the new leadership that will emerge after the elections,” Mr Nyatsumba said.
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