Business Leadership South Africa (BLSA) has welcomed the sentiments expressed in a memorandum to President Cyril Ramaphosa. This comes after five countries wrote to the President warning him of threats to his R1.2 trillion investment drive.
Embassies of the United States of America, United Kingdom, Netherlands, Germany and Switzerland have reportedly urged President Ramaphosa to act against perpetrators of corruption and threats to the rule of law and investment, in a memorandum.
BLSA says the memorandum from the five countries seeks to put pressure on the government to act against corruption.
The body has called for those implicated in the various commissions of inquiry to face jail time. It says this will help restore the rule of law and deter others from getting involved in corruption.
BLSA Chief Operations Officer Busi Mavuso says government should not set up inquiries to be seen as though they are doing something against corruption, especially after state capture deliberately hollowed State Owned Enterprises through fruitless and wasteful expenditure.
BLSA says the concerns raised in the correspondence from the five embassies are not unfounded. The body also says that the US, UK, Netherlands, Germany and Switzerland accounts for 75% of foreign direct investment in South Africa.
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