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Saftu slams SA Investment Conference

SABC News Ramaphosa P - Saftu slams SA Investment Conference

The South African Federation of Trade Unions (Saftu) has slammed the second SA Investment Conference hosted by President Cyril Ramaphosa. Saftu says government is making plans on behalf of worker without including them.

It says the the rising unemployment rate is a clear sign that the conference has failed to yield any real returns for the working class since its establishment in 2018.

Social Development Minister Lindiwe Zulu received the labour formation’s memorandum of demands on behalf of President Ramaphosa.

Saftu National Organiser, Lebohang Phanyeko read the memorandum outside the University of Johannesburg  Campus in Soweto where government held the final day of the Investment Conference.

“Working class formation calls on both government and the private sector to do the right thing and act decisively before the SA economy reaches a point of no return. The following should be the basis of new investment drive; this is the solution we are giving them, comrades. We say the your austerity measure of cutting of expenditures will not help our economy to grow. You cannot cut public expenditure and reduce levels of investment and then hope that it will lead to growth. SA needs a real stimulus package of R500 billion to kick start the economy.”

 

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