"The Chamber is particularly encouraged by the bold decision taken by Cabinet to stabilise Eskom and other state-owned entities," said spokesperson Tshepang Ramosepele.

"We believe that the decision to split the power utility will in the long term yield the much-needed stable and reliable supply of electricity.

"The country’s economy has suffered a blow because of unreliable supply of electricity. Many companies have closed and jobs are lost in the process. It has also discouraged new investments in the country."

He said Nafcoc was also encouraged by the decision to freeze salary increases for ministers, premiers, parliamentarians and members of the executive council (MECs).

"This signals a new dawn where government walks the talk. The chamber, however, believes that these measures should be extended to the mayors, councillors and municipal managers whose municipalities are not performing.

"We believe that this could be a lasting solution to a range of problems facing municipalities."

In his medium-term budget policy statement Mboweni said ministers, their deputies, premiers and MECs would not be getting a salary increase 'for the foreseeable future'.

Ramosepele said the chamber further welcomed the indication that the process of liberating broadband spectrum would be fast-tracked.

"It would have been better if the Minister (Mboweni) had given South Africans a firm date as this process has been dragging for years.

"The Kenyans started this process after South Africa and implemented it while we are still bickering.

"Kenya, which has a population of around 50 million, has to date issued 64 free to air television stations. They have the fastest internet connection in Africa as a result of their broadband spectrum policy," Ramosepele said.

ANA