Bonang Mohale not surprised at loss of business confidence in govt

CapeTalk's Kieno Kammies speaks to the newly appointed CEO of Business Leadership South Africa, Bonang Mohale about his new role in the organisation.

BLSA is an organisation of 80 CEOs from South Africa’s largest businesses and multinational companies in South Africa.

On Wednesday, the Rand Merchant Bank (RMB) Business Confidence Index compiled by the Bureau for Economic Research announced that its index has collapsed by eleven points.

Mohale says he is not surprised that business has lost confidence in this country because for the first time in the history of South Africa there is lack of leadership.

Mohale is the outgoing vice president at Shell.

It takes a minimum of six years for this government to make decisions because they are involved in other things.

Bonang Mohale, Newly appointed CEO at Business Leadership South Africa

The reason why we are downgraded is because the three rating agencies gave us five things to do and the president on the 31st of March went and did exactly what they told us not to do.

Bonang Mohale, Newly appointed CEO at Business Leadership South Africa

He says the only reason they were working with the President Jacob Zuma for the past 18 months was to try and avoid being downgraded and secondly to go on road shows to promote South Africa as a good investment destination.

All that was null and void when the president made a decision to fire the entire treasury, says Mohale.

To hear more of this interview with Bonang Mohale, listen below:


Recommended

by NEWSROOM AI
Read More
BLSA calls on Mogoeng Mogoeng to decide on state capture commission chair

BLSA calls on Mogoeng Mogoeng to decide on state capture commission chair

BLSA condemns Mantashe's comment that commission should investigate all business influence on state owned institutions since 1994.

Molefe's return to Eskom an insult to all SA citizens, warns BLSA

Molefe's return to Eskom an insult to all SA citizens, warns BLSA

Business Leadership SA chairman Jabu Mabuza says that the entire Eskom board needs to be expelled, reports EWN's Stephen Grootes.

'Land restitution failed because Government is the biggest owner of land'

'Land restitution failed because Government is the biggest owner of land'

Bruce Whitfield interviews Finance Minister Malusi Gigaba's advisor Chris Malikane and Business Leadership SA's Bonang Mohale.

Zuma responsible for turmoil, recklessness and irrationality  - BLSA

Zuma responsible for turmoil, recklessness and irrationality - BLSA

Reports have emerged that National Treasury director general Lungisa Fuzile has asked to leave his post at the end of this month.

President risks reducing SA to junk status - Business Leadership SA

President risks reducing SA to junk status - Business Leadership SA

The President has received a lot of criticism, including from the ANC, for axing Ministers and his subsequent appointments.

Business community concerned about rumours of Gordhan removal

Business community concerned about rumours of Gordhan removal

BLSA's Mark Lamberti says stable finance ministry is applauded by local and international investors and no disruption is needed.

Investor roadshows key to presenting 'united front' in SA, says Bonang Mohale

Investor roadshows key to presenting 'united front' in SA, says Bonang Mohale

Finance Minister Pravin Gordhan was called back from Treasury's investor roadshow and Bonang Mohale explains its importance.

‘Jacob Zuma, sign the anti-corruption Fica Bill now!’ - Business Leadership SA

‘Jacob Zuma, sign the anti-corruption Fica Bill now!’ - Business Leadership SA

President Jacob Zuma says the Fica Bill infringes on the rights of powerful people. BLSA says this objection is without merit.

Popular articles
How to pay up to 45% less tax (and save the SA economy while you’re at it)

How to pay up to 45% less tax (and save the SA economy while you’re at it)

The Money Show’s Bruce Whitfield interviews Darryn Faulds, a fund manager at Grovest Group.

Plans to end death penalty in Malaysia could see seven South African lives saved

Plans to end death penalty in Malaysia could see seven South African lives saved

The Department Of International Relations says it welcomes plans by the Malaysian government to abolish the death penalty.

'It's unacceptable that government officials pay R75 for luxury apartments'

'It's unacceptable that government officials pay R75 for luxury apartments'

IFP national spokesperson Mkhuleko Hlengwa says the party is calling for a review of these rates that are a cost to taxpayers.

[WATCH] Man exposes people selling stolen goods on Facebook

[WATCH] Man exposes people selling stolen goods on Facebook

Anton Fourie says he used his phone to record the interaction to create awareness of what is going on in the community.

Zondi tells court that she had to 'look happy' in church out of fear for Omotoso

Zondi tells court that she had to 'look happy' in church out of fear for Omotoso

Cheryl Zondi is testifying against Pastor Timothy Omotoso who is accused of rape and human trafficking in his Durban church.

Funny Cape fashionista Nadia Jaftha making waves with her mom

Funny Cape fashionista Nadia Jaftha making waves with her mom

Fashion blogger Nadia Jaftha takes fans through her serious love of style, as well as her silly moments with sidekick mom, Nawal.

3 emergency numbers you should have on speed dial and how they work

3 emergency numbers you should have on speed dial and how they work

These are the emergency numbers you should have on your cellphone and this is what you must understand about how they work.