BANKING ASSOCIATION
Coovadia urges finance miniser to prioritise private sector tie-ups
Banking Association SA MD Cas Coovadia also emphasises the need for the government to revitalise the CEO Initiative
Finance Minister Malusi Gigaba should prioritise working with the private sector to tackle governance failures and management issues at state-owned enterprises (SOEs), says Banking Association SA MD Cas Coovadia. Coovadia also emphasised the need for the government to revitalise the CEO Initiative, which had fallen by the wayside after March’s cabinet reshuffle when Pravin Gordhan and Mcebisi Jonas were axed as finance minister and deputy finance minister, respectively. The CEO Initiative had helped bolster investment and engaged credit ratings agencies. The minister had to use the medium-term budget policy statement “to put clear and decisive steps that encourage national and global private sector investment on the table”, said Coovadia on Monday. “Without this, it remains all but impossible to address fiscal constraints and the expected shortfall in tax revenues that will continue to impact service delivery and the poor, who remain marginalised because of the inability to address ...
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