Zuma to lunch with business ahead of state of the nation speech

Cape Town – President Jacob Zuma invited business leaders to a lunch ahead of his state of the nation (Sona) address on Thursday February 9 to “further strengthen cooperation between government, organised labour and business.

In a statement issued on Sunday, the Presidency said the “pre-Sona" business investor luncheon, will take place at the Grand West Casino in Cape Town on Tuesday, February 7, and will be attended by business leaders and those from organised labour. 

“The meeting will serve as a platform to promote inclusive economic growth, radical socio-economic transformation and job creation in South Africa,” the Presidency said.

In 2016, Zuma and Finance Minister Pravin Gordhan have met with business leaders on a number of occasions, especially to mitigate the distrust following the sacking for former Finance Minister Nhlanhla Nene in December 2015, throwing South African markets into turmoil.  

READ: Markets react aggressively to Nene axing

A presidential CEO initiative – a formation of business people under the leadership of Jabu Mabuza, chairperson of Telkom SA - was started, among other things to work with government to avert sovereign credit ratings downgrades during the course of last year. 

The Presidency said 2016 was a “successful year of close cooperation between government, labour and business” aimed at reigniting economic growth.
 
Members of the inter-ministerial committee will accompany Zuma at the lunch on Tuesday on investment, which he established in 2016 to improve support and assistance to investors wishing to take advantage of vast investment opportunities in South Africa.
 
“This will be the second time that President Zuma meets with business leaders a few days before he delivers the State of the Nation Address,” the Presidency said. 

“This initiative underscores the importance that President Zuma attaches to close cooperation and unity in action between organised labour, business and government in turning around the economy and creating jobs.”