As votes continue to be counted in KwaZulu-Natal where substantial shifts emerge, the sentiment among local businesses in the province is one of uncertainty and anticipation.
This is according to Cobus Oelofse, CEO of iLembe Chamber of Commerce.
Oelofse believes that recent economic indicators do reflect this uncertainty around anticipated economic dynamics and also the regulatory environment.
"Business hopes and trusts that the emerging provincial and national political dynamics would not impact or disrupt local government stability, efficiency and a commitment to effectively serve local businesses and the local economy,“ Oelofse said.
As the MK Party takes the lead in KZN with 760,572 votes and 58.34% of the voted counted, IOL asked Oelofse about the possibility of the MK Party running the province.
In response, Oelofse said that he would not like to comment on any specific party's performance.
“There will obviously be a lot of courting and matchmaking behind the scenes, and business trusts that whatever scenario finally emerges, that business and local economies will be front of mind, and will benefit.”
Oelofse said that following the elections, at a macroeconomic level, a positive investment climate, supported by social stability, will be welcomed by businesses in the province.
The CEO said that while the elections were on a national level, he hopes that the outcome will have a positive impact on KZN businesses.
“Although these were national elections, we trust that the outcome will allow local authorities to reflect on, and bolster local service provision, the ease of doing business, a willingness to address constraints to business and overall restoring confidence in our local economies,” Oelofse said.
When IOL reached out to the Durban Chamber of Commerce and Industry, this was there response:
“The Durban Chamber of Commerce and Industry is in no position to comment at this stage.”
IOL