NEDLEC SUMMIT: The National Economic Development and Labour Council Summit (NEDLAC)’s 22nd Summit was recently held at Emperor’s Palace, under the theme Restoring integrity by combating corruption through good governance. Concerns regarding confidence and economic concerns were amongst the issues raised constituency. See highlights of key discussion points.
KEY TAKEOUTS FROM 22ND ANNUAL NEDLAC SUMMIT
We were in attendance at the 22nd Annual Summit of the National Economic Development and Labour Council Summit (NEDLAC) that recently took place at the Emperor’s Palace Convention Centre in Gauteng. Below is a summary of key issues from the Summit:
- There has been a significant demographic shift with regards to the youth, where 56% of those unemployed are the youth.
- There were also recommendations that State-Owned Entities (SOEs) must be redesigned to serve its purpose, and good governance restored.
- There is a real risk of further downgrade and an exacerbation of current economic and fiscal pressures, as political instability is prevalent.
In its presentation, business emphasized that social cohesion must be built amongst all social partners, however government must be held in a higher standard, as they are elected and mandated to manage public money. Business, nonetheless acknowledged the recent developments where Social Partners are applying their minds in a deliberate effort to address challenges of corruption. Business further stressed the imperative for likeminded people to have real discourse around this issue. “NEDLAC must thus be utilised to talk about the hard issues, compromises and trade-offs with all sectors of society in advancing the national interest and build social cohesion”.