Members of the academic community and the KwaZulu-Natal business leaders weighed in on issues that are affecting the local and national business sector ahead of the 2024 elections.
They were speaking at the 2024 General Elections in South African and It’s Impact on Business panel held at The Riverside Hotel on May 9.
Speaking at the event, Professor PS Reddy, a public governance expert at the Graduate School of Business and Leadership, University of KwaZulu-Natal said that the time before and after 2024 elections is destined to be a watershed moment in South Africa.
Zakhele Ndlovu, a political science lecturer at the University of KwaZulu-Natal and an independent political analyst said that the economy is growing, which is making a dent in the high unemployment rate in South Africa.
Other issues that South Africans are facing is poverty and rising inequality.
According to Ndlovu, South African voters are not educated enough or informed enough to make good decisions when they go to the booths at the voting stations.
In terms of election results, Ndlovu predicts that the ruling ANC will get just below or just over 50% of support from voters. He also predicted that there may be a coalition government in KZN between the ANC and the new MK Party.
Melanie Veness, CEO of the Pietermaritzburg and Midlands Chamber of Commerce called for more support for SMMEs in South Africa due to the high failure rate of those businesses in the country.
Veness also called for the issue of corruption to be resolved because money is lost to corruption as the wrong people are handed contracts.
Ebrahim Patel, founder and former president of the Minara Chamber of Commerce said that there is positivity in the economy as the rand has remained stable, despite a number of economic challenges that South Africa is facing.
Patel said that in order for growth in the business sector, the railway and logistics system needs to be fixed and a mass overhaul of the public transport system is needed so workers get to and from work safely and a lower cost.
All of the speakers said that the issues of lawlessness and crime need to be fixed in order for the South African business sector to thrive. According to the experts, businesses and investors would not want to invest in a country that has these major issues.
IOL Business