Date: 20 November 2017 | Author: Business Leadership South Africa | Category: Media Statement
20th November, Johannesburg: A ground-breaking report by Quantec Research, a leading South African economic consultancy, has revealed today the significant contribution made by South African business to the wealth of the nation. It re-iterates, amongst other things, the significant contribution of business to the South African economy.
The study was commissioned earlier this year by Business Leadership South Africa (BLSA) to better understand the national footprint of its membership. Quantec Research was asked to conduct empirical research on the scope and magnitude of BLSA’s members’ activities and their contribution to the economy. The study, published today, has revealed several striking findings about the role of business in society;
Quantec Research said: “It is clear from our footprint analysis that BLSA members play a significant and vital part in South Africa’s economy. The contribution of private sector entities, is an essential component of economic activity in the country and through this contribution plays an important role in the provision of sustainable and inclusive economic growth.”
Bonang Mohale, chief executive of BLSA, commenting on the findings of the report said: “This report confirms that business is a vibrant part of South African economy and society and a significant national asset. The footprint of BLSA’s members alone is notable – often bigger than that of government itself. It’s a reminder that business touches every part of South African life and has a positive role and voice to play in the success of the nation.”
He added: “Despite its already outsized contribution, business is committed to doing more to encourage inclusive economic growth and transformation. That is why earlier this year we launched our #Business Believes campaign where business made various commitments to society. Government must create the economic and policy conditions necessary for growth to occur, and then together business, government and civil society can work to put the South African economy back on track.”
* The economic value created by BLSA members refers to the combined revenue of the 57 members included in the study and the value created through their operations in 2016.
** Of the 73 BLSA member companies, 57 were included in the footprint study.
“Economic activity” refers to GDP.
Methodology: Quantec Research generated a snapshot of BLSA’s impact on the economy in 2016 by looking at direct operational and capital spending by the participating BLSA members and has developed a model to follow and measure the ripple effect of their operations in the economy. The model separates and reports:
Quantec Research: https://www.quantec.co.za/about/