Today's Big Stories

SA business throws their weight behind Pravin Gordhan

Deputy Chairman of Business Leadership South Africa, Bonang Mohale, says the pledge signed by 81 South African businesses is not just for the support of an individual, but to protect the integrity of our economic institutions.

As Finance Minister Pravin Gordhan prepares to face his accusers in court on November 2, support for him and calls for the NPA to withdraw charges against him continues to grow.

We are supporting the office of Minister of Finance in the same way all of us ought to respect the office of the President even though we might individually not like the occupant of that office at this moment.

Bonang Mohale, Deputy Chairman of Business Leadership South Africa

Mohale says the charges against Pravin Gordhan, according to legal experts, are without factual and legal foundation therefore as business they are joining forces with the voices that are supporting the Finance Minister.

He says this is a crucial time for South Africa because the country will be going under review by the ratings agency in less than six weeks.

As a country, we should be working on the five things the three rating agencies recommended in order to avoid a down grade, says Mohale.

The reason why we don't want a downgrade is because when we are graded below investment grade, the people on the street are going to pay more for milk and bread.

Bonang Mohale, Deputy Chairman of Business Leadership South Africa

It is very clear that there are some forces at play here... as business we are choosing to be on the side of the rule of law...

Bonang Mohale, Deputy Chairman of Business Leadership South Africa

Mohale further explained why SA needs to avoid a down grade, click below to listen:

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