Business leaders urge Ramaphosa and Steenhuisen to resolve disputes and protect government stability

South African business leaders have issued a stark warning to President Cyril Ramaphosa and Democratic Alliance (DA) leader John Steenhuisen, urging them to settle their differences and safeguard the stability of the Government of National Unity (GNU).

The GNU, established after the African National Congress (ANC) lost its parliamentary majority in the May 2024 elections, is a coalition comprising the ANC, DA, and several smaller parties.

Leading figures in the business community, including Discovery Ltd.’s Adrian Gore and Anglo American Plc’s Duncan Wanblad, have expressed growing concern over a recent budget dispute that threatens to fracture the coalition.

They cautioned that the collapse of the GNU could have severe economic repercussions, including job losses and halted growth, potentially undoing the progress and positive economic outlook the country has experienced since the coalition’s formation.

The letter underscores the critical need to preserve the GNU to maintain a pro-business, reform-driven environment, especially as South Africa’s economy remains fragile and the threat of less market-friendly coalitions, such as those involving the EFF or MK Party, looms large.