Zuma haemorrhaging the economy, warns BLSA

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Cape Town - President Jacob Zuma and the African National Congress must act decisively to stem the economic fallout from his wholesale Cabinet reshuffle, said the Business Leadership South Africa (BLSA) on Friday in a strongly-worded statement.

BLSA is an independent association whose members represent South African big business leadership and major multinational investors.

"While we acknowledge that the makeup of the Cabinet is the President’s prerogative, last night’s decision and how it was taken has severely damaged investor confidence and will negatively impact private investment in the economy."

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