The Business Trust is founded on a corporate partnership of over 140 companies across industries and sectors in South Africa. It has mobilised multiple stakeholder partnerships at strategic, governance, operational and implementation levels. This has created an extraordinary set of public/private partnerships which have raised awareness of the development challenge for the business community, and the value of the business contribution for government and other actors. It has brought sponsorship, mentoring and other business resources to bear on South Africa's major challenges and established a structured basis for responsible local community interaction that supports national policies and strategies.
Corporate partnerships:
The leading companies operating in South Africa (including multi national companies) have agreed to work together on a defined strategy in partnership with government, NGO and other organisations. They are bound together by a vision of South Africa as a stable, prosperous country in which business is a trusted social partner, by the strategy they have agreed to implement, the formula on which funding is based and by irrevocable (written) undertakings to fund the Business Trust over an agreed five-year period. This has resulted in the most substantial venture of its kind undertaken in South Africa.
Strategic partnerships:
At inception the Business Trust proposed a consultative body to facilitate interaction between senior business and government leaders on national issues. Former President Mbeki agreed and established the President's Big Business Working Group (BBWG). He subsequently established similar groups for small business, labour and agriculture.
The BBWG is drawn from the leaders of the major corporations associated with the Business Trust who meet with senior cabinet members under the chairmanship of the President. Its purpose is to provide the President with leadership opinions on a range of national issues.
These opinions do not seek to represent the mandated positions of business or any of its representative bodies. Neither do they purport to be expert opinions. While addressing issues from a business perspective, the BBWG aims to present those views in what it believes to be the national interest.
The BBWG operates in a spirit of cooperativeness and in the belief that an exchange of opinion between business and government leaders will help to develop a shared appreciation of the challenges and opportunities South Africa faces and thereby enhance our ability to respond.
Governance partnerships:
Directors govern the Business Trust. These are made up of 26 business appointees and 16 government appointees. Decision making is by consensus.
Operating partnership:
Operating partnerships have been established at a number of levels.
Liaison committees have been established to manage the alignment of the work of the Business Trust with national priorities and objectives. The most senior members of the departments of Trade and Industry, Tourism, Public Works and Corporate Governance and Traditional Affairs meet with management of the Business Trust. These are governed by agreed operating protocols.