Ramaphosa vows to reduce red tape for South African businesses
By the AFREEQUE newsroom, based on IOL
South African President Cyril Ramaphosa has pledged to reduce the administrative obstacles facing businesses, after Durban business leaders called for action on illicit imports, unreliable infrastructure and rules penalising struggling companies, IOL reports.
South African President Cyril Ramaphosa has promised to reduce the administrative obstacles holding businesses back, after Durban business leaders called for action on illicit imports, infrastructure and regulations applying to distressed companies. He was speaking on Wednesday evening at the gala dinner marking the 170th anniversary of the Durban Chamber of Commerce and Industry, IOL reports.
The Chamber’s managing director, Palesa Phili, called for a review of the rules governing distressed industries and action against counterfeit goods or products brought into the country illicitly through the port of Durban. She also called for reforms benefiting small and medium-sized enterprises, which face power cuts, a lack of financing and administrative burdens. According to her, these businesses account for about 60% of employment in South Africa, compared with nearly 80% in emerging markets such as Brazil and China.
Cyril Ramaphosa acknowledged that unreliable municipal services, the state of infrastructure, the cost of electricity, crime and logistical problems were holding back investment and growth. The previous day, he had promised work to tackle water shortages in eThekwini, the municipality that includes Durban, amid businesses’ concerns about problems linked to local services.
