Consumer Goods Council of South Africa (CGCSA) Statement on the outcome of the vote of no confidence in President Jacob Zuma
Johannesburg, 9 August 2017 – The Consumer Goods Council of South Africa (CGCSA) has noted the outcome of the vote of no confidence in President Jacob Zuma and respects the wishes of the MPs who participated in the voting. Although Mr Zuma has survived the motion, the CGCSA still believes that South Africa has reached a crucial juncture where the Government, organised business and labour should urgently take practical steps to restore confidence in the economy and the country.
The issues raised by opposition political parties, business, civic society and ordinary South Africans related to governance, corruption and perceived poor leadership in Government, require resolute leadership if South Africa is to move forward to recover from recession and begin to grow the economy to achieve inclusive growth that addresses the triple challenges of poverty, unemployment and inequality.
The 14-point economic plan unveiled recently by the Minister of Finance is a start towards restoring economic stability and ensure growth. The CGCSA is however concerned about poor implementation of previous plans and we hope the 14-plan will not suffer the same fate. This is particularly important to avoid further ratings downgrade which will not only worsen an already weakened economy, but also result in more job cuts, further delaying sustained recovery.
The over 12 000 members of the CGCSA, who contribute 18.4% (or over R508.51 billion) to South Africa’s Gross Domestic Product and employ more than 2.9 million people, are willing to invest further but require policy clarity and certainty. The CGCSA will continue to engage with the Government for the common good of the country.