KZN government and business commit to strengthening social compact to drive radical economic growth
KwaZulu-Natal businesses have expressed confidence in the provincial government’s commitment to drive economic recovery and intervene with speed to ensure the ease of doing business.
KwaZulu-Natal Premier Sihle Zikalala as the Co-Chair of the KZN Growth Coalition, led the government delegation of MECs and Mayors during the two-day KZN Growth Coalition Business Workshop attended by over 100 CEOs from various corporate organisations. The Minister of Public Enterprises Pravin Gordhan also attended the high-profile engagement.
Business and government leaders agreed to collaborate on joint investment promotion to attract investors to the province as well as take advantage of the African export market through the African Continental Free Trade Area.
Reflecting on deliberations and resolutions of the workshop, Premier Zikalala said: “This was a highly successful engagement, and we can confirm that the social compact that we spoke about is embraced by all parties. The business community is eager to see business growing and as government we will do everything to support them. We have taken concrete resolutions with regards to issues of security and safety. We have also taken concrete resolutions on how to deal with issues of corruption and implementation of programmes. We have put in place mechanisms that will ensure that the implementation of catalytic projects is coordinated in a way that will expedite the implementation of all projects”.
Premier Zikalala said the engagement enabled the provincial government and business share strategies and develop a common plan of action.
“We believe the private sector will be our ambassadors and we will jointly reach out to the rest of the world and the African continent to attract investors into the province,” said Premier Zikalala.
The workshop which was held at the Estuary Hotel and Spa, Port Edward on 10 and 11 March, was a platform for the provincial government and business to discuss a social compact to grow the provincial economy. The business delegation was led by the Co-Chair of the KZN Growth Coalition Moses Tembe.
The major issues that were deliberated at the two-day workshop was to improve security and safety for business to effectively operate.
Leading the business delegation was the Co-Chair of the KZN Growth Coalition Moses Tembe.
When addressing the KZN Growth Coalition Workshop, Premier Zikalala said that from its inception, the KZN Growth Coalition was bolstered by the need to foster cooperation among social partners and to ensure that there was a shared agenda to promote growth and development in KZN.
“KwaZulu-Natal had excellent infrastructure developed over the years to position the province as serious economic player in the world. Reflecting on the turnaround of the economy Zikalala said that in the midst of the global turmoil, South Africa’s Gross Domestic Product increased by 1.2% in the fourth quarter of 2021, bringing the annual growth for 2021 to 4.9%. Mining, Agriculture and Manufacturing recorded the highest growth rates, with finance and personal services among the largest positive contributors to overall growth,” said Premier Zikalala.
Engaging with business leaders, Premier Zikalala said that he was inspired by former President Thabo Mbeki’s remarks at his Nelson Mandela lecture in 2006; saying: “We live in two different societies; society of the poor and rich. The poor are suffering. If nothing is done to address the poverty, the poor will break the doors of the rich.” Premier Zikalala warned that economic growth had to be inclusive.
“I challenge business on changing their own orientation, paying attention into the integration of young people and women into the economy,” Premier Zikalala said.
The Premier emphasised that government was changing its approach to implementation of service the delivery programme and invited business to commit to investing more in KZN.
“We need to invest in industrialisation of the provincial economy. We have taken a position to take advantage of the African Continental Free Trade Area to provide access of local companies to the rest of the Africa market. We are pledging that we must do things smartly and differently and deal with security issues and electricity supply,” said Premier Zikalala.
The Premier also announced that KZN presented deals at the Afreximbank Deal Room to the tune of R7.8 billion and a potential job-creation of 80 000.
Premier Zikalala commended the Durban Chamber of Commerce and Industry and other stakeholders for having taken time to register their concerns and for suggesting solutions on improving the image of KZN and attract more investments.
“We are a province with great potential. We must not meet when there are crises. We should be smart in anticipating challenges and respond wisely,” concluded Premier Zikalala.
