No time to celebrate Ramaphosa’s election, says Bonang Mohale of BLSA

CAPE TOWN – There’s no time to celebrate the election of new President Cyril Ramaphosa who has several tasks waiting for him, says Business Leadership South Africa (BLSA) CEO Bonang Mohale.
Cyril Ramaphosa was elected president of Sotuh Africa at a sitting of Parliament on Thursday, and later sworn in by Chief Justice Mogoeng Mogoeng. His nomination was unopposed.
Mohale said Ramaphosa will have to urgently work on growing the economy and job creation, he said in a statement issued by BLSA. “There is no time to celebrate,” he said.
“Instead of celebrating BLSA is calling on the new administration to urgently focus on a few critical areas,” he further explained.
These will include making an improvement in public services and addressing the “capture” of key institutions like the South African Revenue Service (SARS) and the National Prosecuting Authority (NPA).
“Our State-Owned Enterprises are bankrupt. We need to address the leadership, capital structure and governance issues gripping the SOEs,’ added Mohale.
CEO of Business Unity South Africa (BUSA) Tanya Cohen, believes that the change in leadership is a “milestone” in the revival of investor confidence.
“The positive movement of the local currency following the events of the past few days is indicative of the importance of political certainty, accountability and good governance in advancing South Africa’s economic fortunes, Cohen said.
Ramaphosa also has an important task of tackling youth unemployment and small business growth.
Photo Credit- BuzzSouth Africa

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