BUSA News & the end of BUSA-BBC Cooperation in Nedlac

  1. It has been an eventful week, culminating in this morning’s engagement with the Minister and Deputy Minister of Finance – an engagement that was well received by BUSA members. BUSA made comment on the return of Brian Molefe to Eskom, as well as on the release of the 2016 Annual Employment Equity Report, demonstrating very slow and insufficient progress on employment equity particularly in top and senior management levels.  These media releases are set out below for your information.
  1. Please take note that as advised by BUSA President, Jabu Mabuza, this morning, the BUSA Board decided to formally end cooperation in Nedlac with the BBC. The decision follows the lapse of the 2012 – 2015 Memorandum of Understanding (MoU) between BUSA and the BBC. The MoU provided the cooperative framework in promoting the interests of business at the National Economic Development and Labour Council (Nedlac), which enabled the BBC representatives to participate in Nedlac proceedings through the BUSA seat at Nedlac.

Regrettably, notwithstanding numerous efforts, the two parties were unable to reach an agreement on the terms of a new framework for participation. Therefore, the BBC will no longer be represented through BUSA at Nedlac. BUSA will continue to represent the interests of the business constituency in Nedlac as the sole recognized voice of business. This does not prevent the BBC from seeking direct access in Nedlac.

BUSA remains committed to working with all organised business formations and stakeholders across the broader spectrum of society, including the BBC, within the spirit of co-operation, accountability, collaboration and mutual respect.

The above decision was reached by the BUSA Board after much deliberation, in the best interests of an independent and coherent voice of business at Nedlac.

Media Releases

BUSA meets with Finance Minister to discuss key economic issues

Arising out of the engagement in Nedlac to address the impact of the credit ratings downgrade on the country, Business Unity South Africa (BUSA) today hosted a meeting with the Minister of Finance, Malusi Gigaba and the Deputy Minister Sfiso Buthelezi.

On the agenda were issues such as the impact of the recent downgrade in the country’s sovereign credit rating, macroeconomic policy and the efforts being made to accelerate inclusive growth and economic transformation. The objective of the meeting was to explore ways in which BUSA and its members could continue to cooperate with Government and National Treasury in order to stabilise and grow a transformed economy on an expedited basis.

“We had a very frank and encouraging engagement with Minister Gigaba,” says BUSA CEO, Tanya Cohen. “The emphasis of the discussion was on: the need for consistent as well as stable macroeconomic policies with a focus on implementation; the necessity of bringing good governance and efficiency to State Owned Companies; and the imperative to grow and transform in a sustainable and accelerated manner – all of which were welcomed”.

BUSA together with its members, is fully committed to exploring strategic partnerships, so as to realise the full potential of the South African economy and its people. BUSA fully endorses the imperative to implement economic transformation, and its role as business, in order to give effect to the objectives of the NDP and in line with Government’s policy framework.

“Together with our BUSA members from all sectors of the economy, we look forward to exploring the strategic partnerships that the Minister referred to, about growing the economy so that business can play a meaningful role in ensuring that we sustainably transform the economy.”  stated Cohen

Extracts from the engagement with the Minister and his Deputy can be watched from here:

BUSA notes its grave concern with the announcement about the return of Brian Molefe to Eskom

BUSA notes with grave concern the Eskom board announcement on the return of Mr. Brian Molefe to his former role as Chief Executive of Eskom, given the circumstances of his resignation and his own expressed desire to “clear his name”. The decision by Eskom’s board flies in the face of the Public Protector’s report and is not in line with the expected levels of accountability and ethical leadership, particularly in such a crucial State institution. BUSA aligns itself with the concerns expressed by many South Africans, including the ruling party in this regard.

BUSA views Eskom as a vital entity in the health of our country’s economy and the attractiveness of South Africa as an investment destination that is supported by sustainable public finances. “The return of Mr Molefe as CEO of Eskom is inopportune, indefensible and undermines government’s messages around promoting good governance at State Owned Companies ” stated Tanya Cohen, CEO of BUSA.

BUSA responds to latest report by Commission for Employment Equity  – Business commends the progress made this year, but says that the current trajectory and pace of change is insufficient to make the shifts needed to transform the South African workforce at more senior levels. 

Business Unity South Africa (BUSA) has responded to the 2016 Annual Employment Equity Report, which was released earlier today. This is the 17th annual report released by the Commission for Employment Equity, and covers key indicators on workforce demographic composition. The theme for this year’s report is “Real Transformation Makes Business Sense”.

“ BUSA, wholeheartedly endorses the theme of this year’s report. Unless we take meaningful steps so that our workforce reflects the broad demographics of our society at every level, we will miss the opportunity to leverage the full human resource potential that South Africa has to offer”, stated BUSA CEO, Tanya Cohen.

BUSA noted that the 2016 Report demonstrates that significant progress has been made over time at junior and middle management and professional levels, however, the current trajectory and pace of change at more senior management levels is insufficient to achieve broad demographic representivity.

“The time has come to move beyond administrative compliance into substantial action”, stated Cohen. To this end, BUSA indicated that while the report is very useful in terms of quantifying progress over the reporting period, it would be even more helpful if it provided longer term analysis as to what progress has been made and what can be learnt from the past two decades.

BUSA indicated that it saw Employment Equity, together with skills development, as a critical enabler of transformation that would be required to secure inclusive growth and employment into the future. To this end, BUSA indicated that it was committed to working with the Department of Labour and the Commission for Employment Equity, as well as Organised Labour to find systemic and sustainable solutions that would accelerate transformation within the workforce.

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