Investor confidence and political / economic certainty

PRESS RELEASE

Business Unity South Africa (BUSA)

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TO: PRINT & ELECTRONIC MEDIA HOUSES

FROM: KHANYISILE KWEYAMA (CEO: BUSA)

SUBJECT: INVESTOR CONFIDENCE AND POLITICAL / ECONOMIC CERTAINTY

DATE: THURSDAY, 17 MARCH 2016

 

Recent speculation regarding the Ministry of Finance and other government departments and public sector institutions has severely undermined business and investor confidence. This needs to be urgently addressed, particularly as BUSA believes that, if South Africa pursues the approach as outlined in the recent Budget, we can collectively do enough to avoid a ratings downgrade. Decisive action by government in support of that policy is required.

 

Business has recently held a number of high level engagements with government and continues to work on preventing a ratings downgrade, SME / Entrepreneur development and investment opportunities. BUSA stands ready to continue to work with government and labour in implementing the NDP to bring about inclusive economic growth. We commend government and, in particular, the Ministry of Finance, in its efforts to work with business and other social partners to address some of the structural and regulatory barriers to inclusive economic growth.

 

A stable political environment is of critical importance in underpinning growth and development. BUSA calls on government and all South Africans to demonstrate continued and renewed respect for our hard won constitutional democracy.

 

Going forward, business stands ready to play its part in building a prosperous future in partnership with government and other stakeholders. To achieve this, we believe that the goal of maximising inclusive economic growth should be paramount. To do this, the following is required:

  • A firm commitment to macroeconomic and fiscal stability.
  • Policy certainty and improved communication on the part of government.
  • A stable, certain regulatory environment.
  • Reliable and affordable infrastructure.
  • Functioning and competent, fit for purpose SoEs.
  • Improved education and skills to drive competitiveness.
  • An enabling environment for business to grow, particularly SMMEs.
  • Respect for and upholding of the constitution.

 

 

ISSUED ON BEHALF OF BUSA

For more information, please contact:

Miyelani Shikwambana

Associate: Brunswick Media

Tel: 011 502 7300 / 082 828 6649

Email: MShikwambana@brunswick.co.za

 

 

Domestic Worker Minimum Wage Increase

Wage Tables for the Domestic Worker Sector
Table 1 Minimum wages for domestic workers who work more than 27 ordinary hours per week
Area A
Bergrivier Local Municipality, Breederivier Local Municipality, Buffalo City Local Municipality, Cape Agulhas Local Municipality, Cederberg Local Municipality, City of Cape Town, City of Johannesburg Metropolitan Municipality, City of Tshwane Metropolitan Municipality, Drakenstein Local Municipality, Ekurhulen Metropolitan Municipality, Emalahleni Local Municipality, Emfuleni Local Municipality, Ethekwini Metropolitan Unicity, Gamagara Local Municipality, George Local Municipality, Hibiscus Coast Local Municipality, Karoo Hoogland Local Municipality, Kgatelopele Local Municipality, Khara Hais Local Municipality, Knysna Local Municipality, Kungwini Local Municipality, Kouga Local Municipality, Langeberg Local Municipality, Lesedi Local Municipality, Makana Local Municipality, Mangaung Local Municipality, Matzikama Local Municipality, Metsimaholo Local Municipality, Middelburg Local Municipality, Midvaal Local Municipality, Mngeni Local Municipality, Mogale Local Municipality, Mosselbaai Local Municipality, Msunduzi Local Municipality, Mtubatu Local Municipality, Nama Khoi Local Municipality, Nelson Mandela, Nokeng tsa Taemane Local Municipality, Oudtshoorn Local Municipality, Overstrand Local Municipality, Plettenbergbaai Local Municipality, Potchefstroom Local Municipality, Randfontein Local Municipality, Richtersveld Local Municipality, Saldanha Bay Local Municipality, Sol Plaatjie Local Municipality, Stellenbosch Local Municipality, Swartland Local Municipality, Swellendam Local Municipality, Theewaterskloof Local Municipality, Umdoni Local Municipality, uMhlathuze Local Municipality and Witzenberg Local Municipality.
Minimum rates for the period 1 December 2014 to30 November 2015 Minimum rates for the period 1 December 2015 to30 November 2016 Minimum rates for the period1 December 2016 to

30 November 2017

Hourly Rate (R ) 10.59 Hourly Rate (R ) 11.44 Previous years minimum wage + CPI*** +2.5% Hourly Rate (R ) Previous years minimum wage + CPI*** +2.5%
Weekly Rate (R ) 476.68 Weekly Rate (R ) 514.82 Weekly Rate (R )
Monthly Rate (R ) 2065.47 Monthly Rate (R ) 2230.70 Monthly Rate (R )
Wages in Area A will be subjected to a CPI plus 2.5% increase for the period 1 December 2015 to 30 November 2016. The CPI***(for the lowest quintile) six weeks prior to 1 December 2015 is 5.5%.This means that wages for this period was calculated as follows: CPI plus 2.5% for Area A = 5.5% + 2.5% =8%.

MOU Between KBF and KRBDC

In pursuit to strengthen business relations and develop reciprocal cooperation, the KOUGA AND RURAL BUSINESS DEVELOPMENT CHAMBER (KRBDC) and the KOUGA BUSINESS FORUM (hereinafter defined to as the Parties), concluded the following Memorandum of Understanding.

The purpose of this MOU is to establish a practical framework for the development of stronger business relations between the two Parties, and to set forth the procedures of cooperation, which can enhance the implementation of reciprocal economic objectives.

Article One

The Parties shall encourage, promote and facilitate economic cooperation among their business communities to the mutual interest of both entities.

Article Two

The Parties shall coordinate to establish and expand a business network which facilitates the circulation of business opportunities available to both entities among the members of the two Parties.

Article Three

The Parties shall encourage the flow of reciprocal economic information and ensure making them accessible for the member of both parties to facilitate trade contracts and activate joint projects.

Article Four

Each Party assist the other in organizing or participating in trade fairs, exhibitions, conferences, seminars and other similar activities held by and/or for both Parties

Article Five

The Parties shall do their best to eliminate any obstacles that may hinder growth of trade and business, by identifying the barriers and finding the suitable solutions.

Article Six

Each Party shall support solving the complaints that may arise as a result of the business transactions between the two Parties, and help settling commercial disputes by mediation, conciliation or arbitration. In this regard, business people from both entities will be advised to incorporate conciliation/arbitration in their business contracts.

Article Seven

The Parties shall support and encourage the exchange of technical expertise know-how and training opportunities between their respective members.

Article Eight

Unless otherwise agreed, each Party shall bear the costs and expenses for its participation in activities under this Memorandum. The capacity of each party to carry out activities under memorandum shall be subject to the availability of funds, personnel and other resources.

Article Nine

For the purpose of implementing this MOU the two Parties shall jointly review the provisions from time to time, taking into consideration the new matters that may necessitate introducing new articles or amending the existing ones. This memorandum may be amended at any time subject to the Parties agreement.

Article Ten

This Memorandum of Understanding shall come into effect upon signature by the Parties, and shall remain in effect until both, or either Party request its termination by a letter addressed to the other. The Memorandum may be terminated at any time after consultations among the Parties.