Business leaders told President Jacob Zuma at a meeting last week that trust between the government and the private sector was destroyed when the South African leader fired his finance minister in March, Telkom chairperson Jabu Mabuza said. "We had a private dinner with the President and we raised lots of issues," Mabuza, who is one of the leaders of the so-called CEO Initiative, said in an interview on Thursday at the World Economic Forum (WEF) on Africa in Durban. "We raised our concern that our working together, the trust, has been destroyed by the developments of the last few weeks." Zuma ordered Pravin Gordhan, who was with business and labour leaders in London to meet investors on March 27, to return home, and dismissed him four days later, prompting the rand to plunge. Since being reappointed in December 2015, Gordhan led efforts to retain the nation’s investment-grade credit rating, meeting regularly with business and union leaders, and foreign investors. S&P Global Ratings ...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now