News24
11 Sep 2019, 01:13 GMT+10
Massmart chair Kuseni Dlamini has joined a chorus of business leaders condemning the recent wave of attacks against foreign nationals in South Africa, saying "no country can prosper on its own".
Speaking at the Moody's Sub-Saharan Africa Summit on Tuesday, Dlamini said bold leadership was required to drive the narrative that Africans need to co-exist, in order to take on the world.
"Not one African country can prosper on its own. That is why I have been very saddened by the violence against foreign nationals in our country," he said.
"South Africa can't take the world on its own."
The violence which erupted in different areas in Johannesburg and Pretoria has been widely condemned by political and business leaders, leading to retaliation against SA businesses operating in other parts of the continent. MTN and Multichoice operations in Nigeria came under attack from angry locals, while some Shoprite supermarkets in Zambia were looted.
A new focus
The Moody's conference discussed various growth-related subjects, as well as fiscal outlook for South Africa. The ratings agency revealed that it had revised the country's growth forecast for 2019 from 1% to 0.7%.
Growth in the G20 emerging market economies will decline from an estimated 5.1% in 2018 to 4.4% in 2019, Moody's said.
Responding to SA's low growth trajectory and high unemployment, Dlamini said interventions aimed at boosting the economy required "single-minded focus" with policies geared towards improving investor confidence and job creation.
Dlamini also urged private companies to invest in the upskilling of their workforce, particularly the youth, to prepare for disruption brought by the Fourth Industrial Revolution.
He said companies no longer invested in their employees like they used to, adding that there was a need for a "massive re-skilling revolution" if Africa was to improve its competitiveness.
"New jobs are being created as a results of the disruption that is takes place, therefore we need to reposition ourselves."
Get a daily dose of Madagascar Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Madagascar Sun.
More Information(Photo credit: John Reed-Imagn Images) Top-ranked Auburn has clinched a double bye in the upcoming Southeastern Conference tournament...
Protests have been organized in Pretoria against Rheinmetall over weapon sales to Israel and Ukraine A group of demonstrators braved...
New Delhi (India), February 28 (ANI): European Commission President Ursula von der Leyen on Friday referenced the ongoing unique celestial...
African leaders announcing the closure of French military bases send a clear sign that the continent rejects France's policies ...
African leaders announcing the closure of French military bases send a clear sign that the continent rejects Frances policies France...
The African country has struck several deals with Moscow to boost bilateral relations ...
WARSAW, Poland: Deputy Prime Minister Krzysztof Gawkowski confirmed over the weekend that Poland has been covering the cost of Ukraine's...
Israel sustained the West's support for its slaughter in Gaza for 15 months only through an intensive campaign of lies. It invented...
WASHINGTON, D.C.: The Pentagon announced this week that it will cut 5,400 jobs as part of President Donald Trump's plan to shrink the...
SACRAMENTO, California: California Governor Gavin Newsom is urging Congress to approve nearly US$40 billion in federal assistance to...
WASHINGTON, D.C.: A U.S. government scholarship program designed to help students from underserved and rural areas attend historically...
WASHINGTON, D.C.: A proposed 10 percent U.S. tariff on oil imports could deal a US$10 billion annual blow to foreign producers, particularly...