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Cape Town - Despite pockets of encouraging news, business confidence in South Africa remains worryingly low, according to Viola Manuel, executive director of the Cape Chamber of Commerce.
She spoke at a recent meeting between members of the chamber and members of Cape Town's city council.
"The South African Chamber of Commerce announced that the July Business Confidence Index (BCI) increased by just 0.5 to 90.7 in June," said Manuel.
She quoted the Sacci CEO, Neren Rau as saying that although the BCI remains depressed, global economic conditions appear to be bottoming out.
He went said the openness of the South African economy is not only an opportunity and an advantage, but also a major challenge in that it compels South Africa to actively work at maintaining a competitive edge.
"No one in this room can doubt that Cape Town has a competitive edge when it comes to how we are viewed compared to other cities in South Africa," said Manuel.
"However, we need to take a closer look at what Mr Rau meant when he spoke of the 'openness' of our economy."
She said the very premise of the concept of "open" allows for inclusive participation.
"By tapping into the collective and by taking the best of the external advances and adding them to the deep, insightful internal knowledge within your organization, we gain exponentially," she said.
"As business owners we all know that the most successful entrepreneurs have turned to mentors, who can apply their knowledge and market experience and help guide the business owner when making decisions."
Patricia de Lille, mayor of Cape Town, said at the event that she understands that in order to create economic opportunity, everyone needs to live in the kind of society that allows them to succeed.
"It is near impossible to tell a person living in a shack without electricity or water that they need to remain positive and try and find a job," she said.
"It is a situation that needs to change. Documents like the National Development Plan (NDP) have mapped the way forward for many of these."
She said in the economy of the 21st century, cities are the drivers of economic growth.
"This comprehension is changing the way businesses choose their investments," said De Lille.
"Indeed, the McKinsey Global Institute has advised that, over the coming decades, growth will be determined by a class of mid-size cities that understand, build-on or develop competitive advantages or competitive specialisations."
Fred Jacobs, president of the chamber, expressed his concern about the number of public servants in SA that has increased to 3.07 million and now make up 22.6% of the country's labour force.
"What we have here is a formula for paralysis. With so many chiefs and a desperate shortage of qualified and experienced staffers we are not going to get good decisions," he said.
"Even worse, the chances for successful implementation of any decisions that do eventuate must be close to zero."
Jacobs said indecision creates a climate of uncertainty.
"That is the very last thing the country needs when new investment is essential and if we are to have any real growth in the economy and new jobs," he said.
- Fin24
She spoke at a recent meeting between members of the chamber and members of Cape Town's city council.
"The South African Chamber of Commerce announced that the July Business Confidence Index (BCI) increased by just 0.5 to 90.7 in June," said Manuel.
She quoted the Sacci CEO, Neren Rau as saying that although the BCI remains depressed, global economic conditions appear to be bottoming out.
He went said the openness of the South African economy is not only an opportunity and an advantage, but also a major challenge in that it compels South Africa to actively work at maintaining a competitive edge.
"No one in this room can doubt that Cape Town has a competitive edge when it comes to how we are viewed compared to other cities in South Africa," said Manuel.
"However, we need to take a closer look at what Mr Rau meant when he spoke of the 'openness' of our economy."
She said the very premise of the concept of "open" allows for inclusive participation.
"By tapping into the collective and by taking the best of the external advances and adding them to the deep, insightful internal knowledge within your organization, we gain exponentially," she said.
"As business owners we all know that the most successful entrepreneurs have turned to mentors, who can apply their knowledge and market experience and help guide the business owner when making decisions."
Patricia de Lille, mayor of Cape Town, said at the event that she understands that in order to create economic opportunity, everyone needs to live in the kind of society that allows them to succeed.
"It is near impossible to tell a person living in a shack without electricity or water that they need to remain positive and try and find a job," she said.
"It is a situation that needs to change. Documents like the National Development Plan (NDP) have mapped the way forward for many of these."
She said in the economy of the 21st century, cities are the drivers of economic growth.
"This comprehension is changing the way businesses choose their investments," said De Lille.
"Indeed, the McKinsey Global Institute has advised that, over the coming decades, growth will be determined by a class of mid-size cities that understand, build-on or develop competitive advantages or competitive specialisations."
Fred Jacobs, president of the chamber, expressed his concern about the number of public servants in SA that has increased to 3.07 million and now make up 22.6% of the country's labour force.
"What we have here is a formula for paralysis. With so many chiefs and a desperate shortage of qualified and experienced staffers we are not going to get good decisions," he said.
"Even worse, the chances for successful implementation of any decisions that do eventuate must be close to zero."
Jacobs said indecision creates a climate of uncertainty.
"That is the very last thing the country needs when new investment is essential and if we are to have any real growth in the economy and new jobs," he said.
- Fin24
