ECONOMY INITIATIVE
Could CEOs be transformation saviours?
SA’s CEO Initiative has more than doubled its original membership. The biggest threat if faces is a hostile Jacob Zuma, writes Hilary Joffe
It was just over a year ago in a snowy Davos street that a group of South African CEOs had a chat with Finance Minister Pravin Gordhan about the possibility of working together to ward off the threat of a ratings downgrade. They were at the World Economic Forum and in their separate meetings had been trying to reassure investors, many of whom were so appalled at the 9/12 "Nenegate" debacle that they were no longer interested in talking to SA at all. Nedbank CEO Mike Brown and the bank’s chairman, Vassi Naidoo, were part of that small group, which is how it happened that Nedbank provided the venue for the January 29 meeting at which about 60 leading CEOs met Gordhan and his team. What they discussed — contrary to the Guptas’ allegation that they conspired to cut off the brothers’ bank accounts — was a joint initiative to save SA from junk status and find ways to unlock investment and boost growth. One year on, the CEO Initiative remains an informal network, but it has more than doubl...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.