SOUTH AFRICA – Leading food companies in South Africa have joined South Africa’s leading corporations in an unprecedented show of solidarity to country and commitment to building its battered economy.
The pledge was made by CEOs from over 115 of South Africa’s leading corporations which includes various food industry heavyweights like RCL Foods, Unilever, South African Breweries, and PepsiCo.
Other major food companies that signed the pledge include fast food restaurant chain Nandos, soft beverage company Coca Cola, and fish harvesting and processing companies Oceana group and Sea harvest.
South Africa’s economy has in recent times faced a number of crises including low economic growth, collapsing infrastructure, rampant crime and corruption, and unacceptably high levels of inequality and unemployment.
The CEOs however expressed their firm belief in the immense potential of the economy which is the second largest in sub-Saharan Africa after it was overtaken by Nigeria.
“We are committed to building it and have come together to address the current challenges with the aim of achieving sustainable, inclusive economic growth,” the CEOs said.
“Through strategic partnerships and focused interventions, we have the power to make a significant and positive impact on our nation, creating hope for all South Africans. We are resolutely committed to being a force for good”.
The scale, diversity and depth of the companies and CEOs behind this pledge is unprecedented and includes other sectors including banking & finance, energy and mining, manufacturing, Manufacturing and logistics, and legal and professional services.
According to the statement, the value of the listed entities that signed the pledge exceeds R11 trillion, employing more than 1.2 million people.
Business’s partnership with government – recently announced by the President and leading CEOs – is a primary example of this type of collaborative effort, which is focused on addressing key fundamentals.
According to the CEOs, the intention is to bring resources and capacity to bear to address the socioeconomic crises facing our country.
Their statement further revealed that process of securing extensive resources including funding, skills and expertise to assist government in addressing these initial priorities has started and is being procured.
This is being done through organised business, including BUSA, B4SA, Business Leadership South Africa, and the Resource Mobilisation Fund (RMF), which recently raised R100 million to contribute expertise to the government via the National Energy Crisis Committee.
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