Cape Town – Business Unity South Africa (BUSA) has ended its Nedlac cooperation with the Black Business Council (BBC) over a difference of opinion regarding the effects of South Africa’s ratings downgrade.
“The decision to terminate the participation of the BBC through BUSA in Nedlac (National Economic Development and Labour Council) was taken unanimously by the BUSA board,” the organisation, led by Telkom chairperson Jabu Mabuza, said in a statement on Monday.
“It was informed by recent developments at Nedlac where it became apparent that BBC and BUSA were not aligned in relation to key issues facing the economy,” it said.
