BLSA CEO Busi Mavuso Highlights Encouraging Perspectives from SA Ministers and Business Leaders at Davos

Last week was incredibly successful for Team SA.

The delegation from both business and government at the World Economic Forum showcased South Africa’s improved prospects and left a strong impression.

In contrast to a year ago, when elections were looming and load shedding plagued us, the atmosphere has dramatically changed. There was genuine interest in South Africa’s narrative.

This time, we were able to discuss our accomplishments and future possibilities, rather than just potential, as we did a year back.

We boldly articulated our goal of achieving 3% growth this year, and our audience was engaged and attentive.

It wasn’t solely Team SA’s message; global fund managers and financial institutions were also recognizing South Africa as one of the key nations to observe in the coming year.

Ministers and business executives collaborated closely to convey a unified message: South Africa is back in action, ready to offer new opportunities.

President Cyril Ramaphosa delivered one of the standout speeches of the week, reaffirming our dedication to sustainable development and inclusive growth.

He underscored the reforms aimed at creating a conducive business environment and attracting investors through policy stability and fiscal improvements.

President Ramaphosa also emphasized the importance of infrastructure investment and the collaboration between the public and private sectors, highlighting numerous opportunities for investors to engage in public-private partnership initiatives.

He discussed South Africa’s strategic position as a gateway for investment across Africa, particularly leveraging the African Continental Free Trade Agreement for substantial opportunities.

Ministers and deputy ministers actively participated in panels throughout the event, presenting a clear and consistent narrative that our businesses could support.

South Africa is making significant strides towards resolving its structural challenges, demonstrating clear progress, and now is the time to seize the available opportunities.

Parks Tau promoted community-driven innovation, Blade Nzimande highlighted skills development in the digital era, and John Steenhuisen focused on food security while encouraging growth.

Finance Minister Enoch Godongwana stressed the importance of ongoing reforms that promote growth, suggesting that rating upgrades are on the horizon. Those seeking signs of disunity in the government of national unity found none.

Our role in hosting the G20 and B20 this year further elevated our presence in Switzerland.

I realized that South Africa is presented with a rare chance to position crucial policy issues affecting the Global South on the international stage through the G20, including climate adaptation.

We also have a platform to showcase our distinctive model for how governments and businesses can collaboratively advance developmental agendas.

We’ve created a fantastic framework for collaboration between the public and private sectors, which could serve as a valuable model for the world.

We now have a distinct vision of what successful hosting of the G20 entails.

Firstly, we should strive to reshape global perceptions of emerging markets and ensure sustainable debt, while promoting investment that drives development.

Secondly, we must emphasize the necessity of climate adaptation and the investments required to enhance resilience in the Global South.

Thirdly, we should highlight the advantages of close cooperation between business and government, and how this partnership leads to tangible solutions.

Fourthly, we should ensure that the world aligns with our ambition to achieve 3% economic growth this year.

Emerging from this experience, I believe Team SA feels invigorated and can return to the country with renewed energy to advance our efforts in the B20 and G20.

There is a wave of positive global energy regarding South Africa’s role and economic prospects, and we must convert that into lasting partnerships with the international community.

President Ramaphosa concluded his speech by inviting attendees in Davos to visit the “most beautiful country in the world,” instantly receiving a commitment from WEF Chairman Klaus Schwab to do so.

This encapsulated the sentiment shared throughout Davos.

The world is acknowledging our progress in implementing economic reforms, addressing the electricity crisis, tackling corruption, and improving logistics.

As the president mentioned, few countries exhibit long-term collaboration among business, government, and labor, signifying stability and promising greater economic growth.

The world has listened to our message.

*This column was first published in the Business Leadership South Africa (BLSA) weekly newsletter. The author Busisiwe “Busi” Mavuso, is the CEO of BLSA.

*The views Busi Mavuso expresses in this column are not necessarily those of The Bulrushes