Business Leadership South Africa (BLSA) said on Tuesday that they welcomed the decision by the African National Congress’s (ANC's) national executive committee to recall President Jacob Zuma after his refusal to voluntarily step down.

"The refusal to resign shows Mr Zuma, and his defenders and supporters are driven by nothing more than avarice, myopia and unbridled self-interest, and it demonstrates that he’s uniquely unfit to hold this important office," said Bonang Mohale, the CEO of BLSA.

BLSA said that the impasse over Zuma's tenure has created debilitating uncertainty for South Africa's economy as it had deferred important political calendar events, including the delivery of the State of the Nation Address, which effectively opened Parliament, and had threatened the national Budget’s delivery.

“It’s now important to end the two-week chaos. We urge the ANC’s new leadership to act swiftly, but constitutionally, in removing their deployee from the high office so that work of recovering our future which was imperilled by his ruinous regime – characterised by incompetence, corruption, state capture and low economic growth – can begin in earnest,” Mohale said.

“The task of rebuilding and strengthening the economy in order to address the triple challenges of poverty, unemployment and inequality cannot be postponed any further."