A ‘new dawn’ for South African economy

2018-06-20 06:01
PHOTOs: suppliedA panel including (from left) Roshan Morar, Finance Minister Nhlanhla Nene, Zweli Mkhize, Melanie Veness and Themba Mathe answer questions from the audience.

PHOTOs: suppliedA panel including (from left) Roshan Morar, Finance Minister Nhlanhla Nene, Zweli Mkhize, Melanie Veness and Themba Mathe answer questions from the audience.

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MORAR Incorporated, a chartered accountants and registered auditors firm, held a business breakfast early on Saturday where Finance Minister Nhlanhla Nene attended and addressed business people in attendance.

Nene captivated the audience with his speech, titled “A New Dawn for the South African Economy.”

He said that ‘dawn’ symbolised an opportunity to reflect and to begin fresh and that, although the recent drop in the economy was worrisome, it was a much-needed wake-up call.

“Government now needs to deliver on the faults in our economy that have been highlighted in the recent drop. We need to improve our efforts in order to ease pressure on small medium enterprises (SME’s).”

Nene maintained that South Africa has the potential to grow at a rapid pace but issues such as entrepreneurship and youth unemployment needed to be addressed.

“Youth unemployment remains high and most of these youth have identified distance as one of the main factors contributing to unemployment. We also do not have enough SME’s in the country,” said the minister.

According to Nene, acting against corruption in the country is pivotal to grow the economy and government has set ambitious targets for it to achieve growth.

“The new dawn is on the horizon and the road ahead is not easy and we cannot walk it alone. We must continue to walk it together,” said Nene.

After his speech, a question-and-answer panel was held whereby Nene, managing director Roshan Morar, CEO of the Pietermaritzburg Chamber of Commerce Melanie Veness and acting CEO of the Ithala Development Corporation Themba Matha answered the audience’s questions.

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