SA’s biggest business organisation is meeting President Jacob Zuma late on Friday to discuss ways in which trust can be rebuilt between the government, business and labour. Business Leadership South Africa (BLSA) deputy chairman Bonang Mohale said: "We’re looking forward to meeting with the president on Friday and reshaping the relationship that’s been broken down." Trust between business and government broke down after Zuma recalled Treasury officials and key business leaders from an international road show, with the presidency saying at the time the trip was unauthorised. The recall was followed by a late-night cabinet reshuffle, which resulted in Pravin Gordhan and Mcebisi Jonas being fired from the executive. Shortly thereafter, S&P Global Ratings and Fitch cut SA’s sovereign credit rating to subinvestment grade, or junk status, citing the reshuffle. Both credit ratings agencies said the reshuffle created uncertainty about SA’s policy path. Mohale clarified that BLSA had no issu...
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