Business Leadership South Africa CEO Busi Mavuso, has emphasised that business had to come together on three main issues – defending the economy, working with labour to cushion the impact on workers and supporting the public health effort.
In a grim account of South Africa’s short term economic prospects, Business Leadership South Africa CEO Busisiwe Mavuso told Fin24 that, even if South Africa successfully manages to curb the spread of the coronavirus (Covid-19), its economic impact in the coming quarters is bound to be dire.
Chief Executive Officer at Business Leadership South Africa, Busi Mavuso says big business is worried about Small, Medium and Micro-sized Enterprises (SMME) sector amid the economic impact of coronavirus as this pandemic will be more dire on this sector.
The Covid-19 disease has affected all aspects of our lives.
BLSA CEO Busi Mavuso said: “This virus which has been rattling markets has also added more economic fears to the already struggling economy which is now in a technical recession and continues to be plagued by load shedding.”
The fiscus loses millions each day because of illicit trade. Sars can’t tackle this problem alone: it is up to all citizens to play their part
Business Leadership South Africa (BLSA) CEO Busisiwe Mavuso says Broad-Based Black Economic Empowerment (B-BBEE) needs to create job opportunities.
Bernadette talks to Busisiwe Mavuso, CEO of Business Leadership South Africa, about the #2020 Budget speech and unpacks what the most anticipated budget speech since 1994 means for business in South Africa.
Estimates of the size of the illicit trade in cigarettes, alcohol and illegally imported clothing runs into billions of rand of lost government revenue in excise duties and taxes, while hundreds of thousands of local jobs are also lost, according to research by Business Leadership South Africa BLSA .
Illicit trade is one of the biggest contributors to the strain that South Africa’s fiscus is currently experiencing, as the country is losing about R250-million a day in tax revenue as a direct result of illicit trade.
BLSA CEO Busi Mavuso expressed business’ views following the 2020 budget, saying the Minister tried his since there was no much room to manoeuvre amid economic challenges facing this country.
Business Leadership South Africa says increasing taxes is not an option.