The CEO Initiative is to meet all three credit ratings agencies ahead of their reviews of SA to demonstrate sincerity towards making a difference in the country, says Stanley Subramoney, a steering committee member of the initiative. Subramoney was responding to comments by S&P Global Ratings that the agency had seen little progress on economic reforms since its June review of the country. Then, the agency affirmed SA’s sovereign credit rating because of the impetus from the government to implement growth-enhancing reforms. Subramoney said CEOs had been engaging with President Jacob Zuma, Deputy President Cyril Ramaphosa and the Cabinet, and that their solutions to the country’s economic malaise had been well received. The CEO Initiative, which is led by Telkom chairman Jabu Mabuza, has put in place strategic measures to boost economic growth, Subramoney said. The R1.5bn small-and medium-enterprise fund, led by Discovery’s Adrian Gore and Bidvest’s Brian Joffe, would be implemented ...
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