Budget 2023
Share

Gordhan: Black, white must work together

Cape Town – It is time for black businesses and white businesses to find each other and work together to establish partnerships to build society, according to Finance Minister Pravin Gordhan.

He was the guest speaker at a post budget event hosted by the Association of Black Securities and Investment Professionals (Absip) and the Afrikaanse Handelsinstituut (AHi).

Gordhan said South Africa must also guard against creating a divide between poor young people and their wealthier counterparts.

In response to Gordhan's statement AHi president Ben Deysel said this business organisation is certainly not only for white businesses.

“We have more than a hundred branches all over the country and we want to work together to build the economy,” he said.

“However, often when business knocks on the door of government, government does not open the door.”

Deysel said this is due to a lack of trust which seems to exist between government and business and must be addressed.

“The government can accelerate economic growth with the help of the business sector," said Deysel.

"There are lots of opportunities. Our challenges after the budget are, however, to get government to allow us to participate.”

On economic growth Gordhan said it is important to see the performance of President Jacob Zuma’s government against the backdrop of the once-in-70-years recession.

“People ask why the recovery we are currently in is not taking us right back to 4% or 5% growth. That leads me to the question of what the structural weaknesses are that we have to address,” said Gordhan.

“It is because of the recovery process that we have decided not to tax you too much,” Gordhan told the audience.

Some of the fault lines that need to be addressed in his view are how to create a skilled labour force and how the agriculture sector could use its potential to provide jobs for unskilled labour and train these labourers.

He also pointed out energy and logistical constraints.

The government wants to continue to support the social wage and provide economic support, he said.

Gordhan also implored the media to help establish greater economic literacy among South Africans.

In answer to whether he plans to stay on as Minister of Finance after the upcoming elections, Gordhan said only President Jacob Zuma can decide who is in his cabinet. Those curious about his future would, therefore, have to wait and see.

“Of course the ANC will remain in government and we even hope to take the Western Cape,” said Gordhan.
 
To those who criticise his 2014 budget, he said it is easy to make all kinds of claims – like nationalising businesses – when one is not responsible to actually govern.

“Having the responsibility to govern is not the mad populism we see by people wearing berets. Their claims are not viable,” he said.

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.94
-0.9%
Rand - Pound
24.10
-0.9%
Rand - Euro
20.59
-0.7%
Rand - Aus dollar
12.42
-0.9%
Rand - Yen
0.13
-0.8%
Platinum
915.75
-0.8%
Palladium
1,028.36
-3.5%
Gold
2,159.96
+0.2%
Silver
25.03
-0.6%
Brent Crude
85.34
-0.1%
Top 40
66,252
0.0%
All Share
72,431
0.0%
Resource 10
53,317
0.0%
Industrial 25
100,473
0.0%
Financial 15
16,622
0.0%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders