The country is back in business

CEO: GOVERNMENT GETS ITS ACT TOGETHER

- Ina Opperman

The G20 summit and the credit rating upgrade from Standard & Poor's (S&P Global Ratings) offer SA a rare opportunity to show the world the country is back in business.

Busisiwe Mavuso, CEO of Business Leadership South Africa, said this shows “we have a government that has regained control of the nation’s finances and turned the trajectory towards sustainable, growth-supporting fiscal management”.

“The medium-term budget policy statement last week showed continued fiscal discipline, with Treasury on track to deliver another primary surplus despite weak growth. We have a financial system that is appropriately vigilant about abuse, putting us back in good standing with the Financial Action Task Force (FATF).

“Our exit from the FATF greylist last month, was recognition of the work done to strengthen our anti-money laundering and counterterrorism financing frameworks,” Mavuso said.

“These are not just bureaucratic achievements, as they matter for our ability to attract investment and participate fully in global financial markets.”