Loading...
See More

Gigaba: Business must invest more

May 25 2012 14:52 Sapa

Related Articles

Private sector infrastructure aid needed

Gigaba: State battles to compete

Gigaba: SAA seeks aid for new fleet

Gigaba: SAA will get support into Africa

Eskom's funding to 2017 finalised

Transnet to cover part of expansion

 

Johannesburg - Workers must encourage the private sector to invest more in South Africa, Public Enterprises Minister Malusi Gigaba said on Friday.

"The workers of our country must continue to put pressure on South African business to throw their money into developing the South African economy," Gigaba told the National Union of Mineworkers (NUM) national congress at Kempton Park.

The private sector was sitting on large amounts of cash that it should be investing.

"... they must match the levels of investment that government is making in the economy."

He called on business not to react negatively to this call.

"This is an important challenge to which the South African private sector must not react with anger as they have done in the past."

Business should instead "respond with sobriety".

South Africa would not be able to reverse unemployment and poverty or reduce inequality without the help of the private sector, Gigaba said.

The R300bn infrastructure rollout programme announced by President Jacob Zuma earlier this year offered "massive opportunities" to business, the minister said.

NEXT ON FIN24X

 

Lastest Articles

Top tips to save money over the festive period Read More...
These are the top 5 most fuel efficient cars in SA Read More...
What to consider when switching medical aid schemes Read More...
Energy saving tips that'll save you money, too Read More...
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
5 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

Small Business

Retailers of any shape and size can now unlock the power of mobile transacting.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...