Ramaphosa Rebukes Top CEOs for Intervening in GNU Crisis

President Cyril Ramaphosa has pushed back against calls from South Africa’s top CEOs urging political parties to preserve the Government of National Unity (GNU), insisting that business has no right to dictate government decisions.

The rebuke followed a joint letter sent last Thursday (3 April) by prominent business leaders—including Investec’s Fani Titi, Discovery’s Adrian Gore, Business Leadership South Africa’s Busi Mavuso, and Anglo American’s Duncan Wanblad—to both the African National Congress (ANC) and Democratic Alliance (DA).

In the letter, the business leaders warned that a collapse of the GNU—sparked by disagreements over the 2025 national budget—would threaten jobs, investment, and growth.

“We have a great deal to lose,” the letter stated. “A change in the core composition of the coalition government would undermine confidence, locally and globally. The damage could be significant and possibly irreversible in the short term.”

But Ramaphosa, speaking on Sunday (6 April), dismissed the suggestion that business should have a say in government composition.

“Business is not elected,” he said. “We are only dictated to by the people of South Africa. Finished and klaar.”

While acknowledging business as a key partner in the economy, Ramaphosa was clear that governance remains the domain of elected leaders.

“We listen to business, but what will not happen is for any business to give orders and dictate what should happen.”

The GNU is currently in crisis after the DA voted against the ANC’s proposed 2025 Budget on Wednesday (2 April), leading President Ramaphosa to declare that the DA had effectively “defined itself outside the GNU.”

Despite the ANC salvaging the budget vote with support from smaller parties, the DA’s stance has shaken markets, sending the rand down over 3% against the US dollar and further against the euro and pound.

On Monday (7 April), the ANC’s National Working Committee is expected to meet to decide the future composition of the GNU.

Business Push Meets Political Pushback

ANC Chief Whip Mdumiseni Ntuli also criticised the business letter, suggesting it implied that the ANC-led government lacks capacity without the DA.

“What the letter is saying to me is business believes the state has no capacity without the DA and that a government without the DA can’t be trusted,” Ntuli told Daily Maverick.

Ramaphosa, meanwhile, promised that the GNU’s future would be examined “coolly” and with the people’s interests in mind.

“This is a key moment of reconsideration. We’re going to examine everything properly without being driven by emotion or sectional interests.”

As uncertainty over the coalition’s stability deepens, investors, citizens, and global observers await the ANC’s next move—and whether political stability can be salvaged in time to steady South Africa’s fragile economy.

{Source BusinessTech}

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