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Despite that fact that government is widely perceived to be South Africa’s biggest employer, business contributed R1.9-trillion to the country’s GDP, employing seven times more people than government. This is according to CEO of Business Leadership South Africa (BLSA), Bonang Mohale, who says that for every one Rand of economic activity that BLSA members generate directly, a further 64c is added to the country’s GDP with an economy-wide impact of R2.59.

These figures come from a study commissioned by the BLSA, conducted by economic consultancy firm Quantec Research. The report also found that for every 100 people that were directly employed by BLSA members, another 153 indirect job opportunities were supported.

The research found that BLSA members employed 1.29-million people, with another 1.97-million jobs supported in the supply chain, while 596 719 people were dependent on BLSA employees. The 57 member companies in the study contribute 23.5% of total private sector employment, and pay full-time and part-time employees just under R2-trillion. The 57 companies that were used to conduct the research included Standard Bank, Anglo American and Hollard.

Business a bigger contributor“Business is a key contributor to South Africa’s GDP. BLSA members contributed roughly 36% of the total South African domestic economy’s output in 2016, compared to government’s 11.7%, while contributing 34% of the country’s GDP,” Mohale says.

“It is clear from our footprint analysis that BLSA members play a significant and vital part in South Africa’s economy. The contribution of private sector entities is an essential component of economic activity in the country and through this contribution plays an important role in the provision of sustainable and inclusive economic growth,” Quantec Research said in a statement.

BLSA is an independent association whose members include the leaders of some of South Africa’s biggest and most well-known businesses in various sectors such as Alexander Forbes, Anglo American, Barclays Africa, British American Tobacco, Discovery, Deloitte, and Murray and Roberts.

Image: https://www.blsa.org.za/about-us/the-board/bonang-mohale/?url=/board-members/bonang-mohale/

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