Ajay and Atul Gupta File photo
Johannesburg – Business Leadership South Africa (BLSA) has called for an independent commission of inquiry into state capture in order to restore confidence in the economy.

The group, which represents some of the country’s top businesses, said on Monday: “The toxic cloud hanging over the Office of the President is eroding the legitimacy of our government and hurting investor confidence.

"Unless this crisis is urgently stemmed, we will see increasing poverty and inequality in South Africa.”

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The BLSA said that the country was already suffering the consequences of a crisis of confidence. It said that the recent credit downgrades, which were in part triggered by concerns over corruption, particularly at state-owned enterprises such as Eskom, were hurting the economy.