Nomaxabiso Majokweni. Picture: SUNDAY TIMES
Nomaxabiso Majokweni. Picture: SUNDAY TIMES

ANY policy and investment environment signals contrary to the "strong message" sent by this week’s African National Congress (ANC) conference should be avoided to ensure the stability needed to unlock private fixed investment, Business Unity South Africa (Busa) CEO Nomaxabiso Majokweni warned on Tuesday.

Busa welcomed the outcomes of the conference, which took place in Mangaung, referring to it as positive and a confidence builder for the country in general.

The ANC rejected wholesale nationalisation of mines, much to the relief of business, but opted for strategic state involvement in key sectors where necessary.

The conference also resolved that labour brokers be regulated as opposed to being banned.

Ms Majokweni said business welcomed announcements that the government would consider tax breaks for employers to hire young job seekers to tackle chronic unemployment, and that the multibillion-rand infrastructure programme would be rolled out.

Business "commends the political leadership for the strong signals given, as this tone and commitment gives more certainty and predictability in policy", Ms Majokweni said. "But the overall result will be based on effective consultation, strong implementation and wide participation for a better South African economy."

It was hoped the key economic decisions that were adopted by the ANC would now boost investor confidence and spur economic growth, Ms Majokweni added.

The business umbrella body also welcomed the endorsement of the National Development Plan (NDP), which sets out the country's structured economic vision to 2030.

"Business remains strongly committed to co-operation with the government to address the critical issues of job creation, education, inequality and corruption and to leverage the government’s commitment to the NDP to meet urgent socioeconomic challenges," Ms Majokweni said.

Busa called for what it referred to as a trusting collaborative effort between the government, business and labour to implement the NDP and related policies, saying it was imperative if South Africa was to avoid a low growth trap in the years ahead.

The government should work with social partners to implement the commitments adopted at the conference, Ms Majokweni concluded.