The County’s emergence from recession is both a relief and a source of encouragement for business.
It is the sort of positive news we desperately need, but there is a great deal more that we need to do to ensure that the recovery is sustained.
One of the reasons for the improvement was the bounce back by agriculture after the drought in the northern parts of the country, but this was still an uncertain area for the Western Cape which has experienced a very dry winter.
In spite of this, the lifting of the dark cloud will encourage investment for further growth and this will send a good signal to the rating agencies.
In the long term, however, the country has to deal with fundamental problems like the corruption which is draining South Africa of the resources needed for investment and job creation. We also have to deal with the gross mismanagement of the State owned enterprises and get our municipalities into shape.
Structural reforms are urgently needed to make it easier for companies to employ the young and inexperienced and measures are needed to ensure stability in the labour market like the long-overdue use of secret ballots before a strike.
President of the Cape Chamber